Document:

EX-10.1

 Exhibit 10.1 

SECOND INCREMENTAL FACILITY AMENDMENT, dated as of January 25, 2017 (this “Agreement”), to the Term Loan Credit
Agreement dated as of November 9, 2015 (as amended by that certain First Incremental Facility Amendment dated as of December 29, 2016, as further amended by that certain Amendment No. 1 to the Term Loan Credit Agreement dated as of
January 25, 2017 (“Amendment No. 1”), as further amended by that certain Amendment No. 2 to the Term Loan Credit Agreement dated as of January 25, 2017 (“Amendment
No. 2”) and as amended, supplemented or otherwise modified through the date hereof, the “Credit Agreement”), among T-Mobile USA, Inc.,
a Delaware corporation (the “Borrower”), the several banks and other financial institutions or entities from time to time parties thereto as lenders and Deutsche Bank AG, New York Branch, as administrative agent and
collateral agent (in such capacities, the “Administrative Agent”). 

A.    Deutsche Telekom AG (“DT”) is willing to extend to the Borrower incremental term loan
facilities in an aggregate principal amount of up to $4,000,000,000. 
 B.    Pursuant to the First Incremental Facility
Amendment, DT (in its capacity as First Amendment Incremental Term Loan Lender) agreed to provide to the Borrower the First Amendment Incremental Term Loan Commitments in an aggregate principal amount of up to $660,000,000. 

C.    DT (in its capacity as First Amendment Incremental Term Loan Lender) is willing to increase the First Amendment
Incremental Term Loan Commitments by $1,340,000,000 (“Additional First Amendment Incremental Term Loan Commitments”) such that the aggregate First Amendment Incremental Term Loan Commitments shall be equal to $2,000,000,000.

 D.    In addition, pursuant to Section 2.23 of the Credit Agreement, the Borrower has
requested that DT (as the person set forth on Schedule I hereto (the “Incremental Term Loan Lenders” and, together in its capacity as the First Amendment Incremental Term Loan Lender, the “Incremental
Term Loan Lender”) provide additional commitments in respect of Other Term Loans (the “Incremental Commitments”, and such Other Term Loans, the “Incremental Term Loans”) to the
Borrower under the Credit Agreement in an aggregate principal amount of up to $2,000,000,000, the terms of which shall be different to the terms of the First Amendment Incremental Term Loan Commitment. 

E.    The Incremental Term Loan Lender is willing to provide the Additional First Amendment Incremental Term Loan
Commitments and the Incremental Commitments to the Borrower on the Incremental Facility Effective Date (as defined below) on the terms set forth herein and in the Credit Agreement and subject to the conditions set forth herein. 

F.    The Incremental Term Loans shall constitute additional Term Loans under the Credit Agreement. The First Amendment
Incremental Term Loans shall comprise a separate Class of Loans from, when drawn, the Second Amendment Incremental Term Loans (as defined herein). The Second Amendment Incremental Term Loans shall comprise a separate Class of Loans from,
when drawn, the First Amendment Incremental Term Loans (as defined herein). 

 G.    The proceeds of the Incremental Term Loans will be used by the Borrower
for general corporate purposes (including, without limitation, for redemptions and/or repayments of Indebtedness) and to pay fees and expenses incurred in connection with the incurrence of the Incremental Term Loans. 

H.    The First Amendment Incremental Term Loan Lenders, the Second Incremental Term Loan Lenders, the Borrower and the
Administrative Agent also wish to make certain other amendments to the Credit Agreement. 
 Accordingly, in consideration of the mutual
agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto agree as follows: 

SECTION 1. Definitions. Capitalized terms used but not defined in this Agreement have the meanings assigned thereto in the Credit
Agreement. The provisions of Section 1.2 of the Credit Agreement (as hereby amended) are hereby incorporated by reference herein, mutatis mutandis. This Agreement shall be an “Incremental Facility
Amendment” for all purposes of the Credit Agreement and a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents. The Incremental Term Loans shall be additional “Term Loans” for all purposes of
the Credit Agreement and the other Loan Documents. Each Incremental Term Loan Lender shall, upon the effectiveness of this Agreement in accordance with Section 5 hereof, be a party to the Credit Agreement, have the rights
and obligations of a Lender thereunder, and shall be a “Lender” for all purposes of the Credit Agreement and the other Loan Documents. 

SECTION 2. Amendments to the Credit Agreement. Subject to the satisfaction or waiver of the conditions set forth in
Section 5 hereof, the Credit Agreement is hereby amended as follows: 
 (a) Section 1.1
of the Credit Agreement is hereby amended by inserting the following definitions in the appropriate alphabetical order therein: 

“DT”: Deutsche Telekom AG. 

“Second Amendment Incremental Term Loan Commitment”: the commitment of a Lender to make a Second Amendment Incremental Term
Loan pursuant to Section 2.4 and the other terms and conditions of this Agreement, and “Second Amendment Incremental Term Loan Commitments” means such commitments of all of the Lenders in the aggregate. The Second Amendment
Incremental Term Loan Commitment amount of each Second Amendment Incremental Term Loan Lender is set forth opposite such Lender’s name in Schedule 1 to the Second Incremental Facility Amendment, as such amounts may be adjusted from time to time
in accordance with this Agreement. The aggregate amount of Second Amendment Incremental Term Loan Commitments as of the Second Incremental Effective Date is $2,000,000,000. 

  
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 “Second Amendment Incremental Term Loan Installment Date”: as defined in Section
2.3(c). 
 “Second Amendment Incremental Term Loan Facility”: as defined in the definition of “Facility”. 

“Second Amendment Incremental Term Loan Lenders”: each Lender that is the holder of a Second Amendment Incremental Term Loan
Commitment or a Second Amendment Incremental Term Loan. 
 “Second Amendment Incremental Term Loan Percentage”: with respect
to any Lender on any Second Amendment Incremental Term Loan Installment Date, the percentage which the aggregate principal amount of such Lender’s Second Amendment Incremental Term Loans then outstanding and subject to repayment pursuant to
Section 2.3 on such date constitutes of the aggregate principal amount of the Second Amendment Incremental Term Loans of all Second Amendment Incremental Term Loan Lenders then outstanding and subject to repayment pursuant to Section 2.3
on such date. 
 “Second Amendment Incremental Term Loans”: the Incremental Term Loans incurred pursuant to
Section 2.4. 
 “Second Incremental Draw Period”: with respect to the Second Amendment Incremental Term Loan
Commitments, the period from and including the Second Incremental Facility Effective Date to (and including) January 31, 2017. 

“Second Incremental Facility Amendment”: the Second Incremental Facility Amendment dated as of January 25, 2017, among
the Borrower, the Administrative Agent, and the Lenders party thereto. 
 “Second Incremental Facility Closing Date”:
January 31, 2017. 
 “Second Incremental Facility Effective Date”: the date on which the conditions set forth in
Section 5 of the Second Incremental Facility Amendment have been satisfied or waived. 
 “Second Incremental Facility Maturity
Date”: January 31, 2024. 
 (b) Section 1.1 of the Credit Agreement is hereby further amended by
replacing the following definitions in whole or in applicable part (if in applicable part, only to the extent indicated between ellipses) as follows: 

“Adjusted LIBO Rate”: with respect to any Eurodollar Borrowing, for any Interest Period, an interest rate per annum equal to
(a) the LIBOR Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate; provided, that, solely with respect to Eurodollar Borrowings comprising Term Loans (other than the First Amendment Incremental Term Loans or
the Second Amendment Incremental Term Loans) the Adjusted LIBO Rate shall in no event be less than 0.75%; provided further, that, solely with respect to Eurodollar Borrowings comprising First Amendment Incremental Term Loans or Second
Amendment Incremental Term Loans, the Adjusted LIBO Rate shall in no event be less than 0.00%. 

  
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 “Alternate Base Rate”: for any day, a rate per annum equal to the greatest of
(a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus  1⁄2 of 1.00% and (c) the Adjusted
LIBO Rate that would be calculated as of such day (or, if such day is not a Business Day, as of the next preceding Business Day) in respect of a proposed Eurodollar Loan with a one-month Interest Period plus
1.00%; provided, that, solely with respect to ABR Borrowings comprising Term Loans (other than the First Amendment Incremental Term Loans or the Second Amendment Incremental Term Loans) the Alternate Base Rate shall, in no event, be less than
1.75%; provided further, that, solely with respect to ABR Borrowings comprising First Amendment Incremental Term Loans or Second Amendment Incremental Term Loans, the Alternate Base Rate shall in no event be less than 1.00%;
provided, further, that for the purpose of clause (c), the Adjusted LIBO Rate for any day shall be based on the rate determined on such day at approximately 11:00 a.m. (London time) by reference to the ICE Benchmark Administration Limited (or
such other Person that takes over the administration of such rate) LIBO Rate for deposits in US Dollars (as set forth by any service selected by the Administrative Agent that has been nominated by the ICE Benchmark Administration Limited (or such
other Person that takes over the administration of such rate) as an authorized vendor for the purpose of displaying such rates). If the Administrative Agent shall have determined (which determination shall be conclusive absent manifest error) that
it is unable to ascertain the Federal Funds Effective Rate for any reason, including the inability or failure of the Administrative Agent to obtain sufficient quotations in accordance with the terms of the definition thereof, the Alternate Base Rate
shall be determined without regard to clause (b) of the immediately preceding sentence until the circumstances giving rise to such inability no longer exist. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal
Funds Effective Rate or such Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or such Adjusted LIBO Rate, respectively. 

“Applicable Margin”: (a) with respect to the Senior Lien Term Loans, a rate per annum equal to (i) for ABR
Loans, 1.75%, and (ii) for Eurodollar Loans, 2.75%, (b) with respect to First Amendment Incremental Term Loans, a rate per annum equal to (i) for ABR Loans, 1.00%, and (ii) for Eurodollar Loans, 2.00% and (c) with
respect to Second Amendment Incremental Term Loans, a rate per annum equal to (i) for ABR Loans, 1.25%, and (ii) for Eurodollar Loans, 2.25%. 

“Class”: (a) when used with respect to Lenders, refers to whether such Lenders are Senior Lien Term Loan Lenders, First
Amendment Incremental Term Loan Lenders, Second Amendment Incremental Term Loan Lenders, Extending Term Lenders (of the same tranche) or other Term Loan Lenders (of the same tranche, including for Replacement Term Loans or Incremental Term Loans),
(b) when 

  
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used with respect to Commitments, refers to whether such Commitments are Senior Lien Term Loan Commitments, First Amendment Incremental Term Loan Commitments, Second Amendment Incremental Term
Loan Commitments, or any other Term Loan Commitments (of the same tranche, including for Replacement Term Loans or Incremental Term Loans) and (c) when used with respect to Loans or Borrowings, refers to whether such Loan or the Loans
comprising such Borrowing, are Senior Lien Term Loans, First Amendment Incremental Term Loans, Second Amendment Incremental Term Loans, Incremental Term Loans (of the same tranche, including Other Term Loans), Replacement Term Loans (of the same
tranche), Extended Term Loans (of the same tranche), or loans in respect of the same Class of Commitments. 
 “Disqualified
Stock”: any Capital Stock 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 of the Capital Stock), or upon the happening of any
event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the date on which any
outstanding Term Loan Facility under this Agreement matures; provided that any class of Capital Stock of such Person that, by its terms, requires such Person to satisfy in full its obligations with respect to the payment of dividends or upon
maturity, redemption (pursuant to a sinking fund or otherwise) or repurchase thereof or otherwise by the delivery of Capital Stock, and that is not convertible, puttable or exchangeable for cash, Disqualified Stock or Indebtedness, will not be
deemed to be Disqualified Stock, so long as such Person satisfies its obligations with respect thereto solely by the delivery of Capital Stock. Notwithstanding the preceding sentence, any Capital Stock that would constitute Disqualified Stock solely
because the holders of the Capital Stock have the right to require the Borrower to repurchase such Capital Stock upon the occurrence of a change of control or an asset sale will not constitute Disqualified Stock if the terms of such Capital Stock
provide that the Borrower may not repurchase or redeem any such Capital Stock pursuant to such provisions unless such repurchase or redemption complies with Section 6.1 hereof. The amount of Disqualified Stock deemed to be outstanding at any
time for purposes of this Agreement will be the maximum amount that the Borrower and its Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified Stock,
exclusive of accrued dividends. 
 “Facility”: each of (a) the Senior Lien Term Loan Commitments and the Senior Lien
Term Loans made thereunder, together with any Incremental Facility of Senior Lien Term Loans added to the same tranche pursuant to Section 2.23 (the “Senior Lien Term Loan Facility”), (b) the First Amendment Incremental Term
Loans, together with any Incremental Facility of First Amendment Incremental Term Loans added to the same tranche pursuant to Section 2.23 (the “First Amendment Incremental Term Loan Facility”), (c) any Second Amendment
Incremental Term Loans, together with any Incremental Facility of Second Amendment Incremental Term Loans added to the same tranche pursuant to Section 2.23 (the “Second Amendment Incremental Term Loan Facility”), (d) any
Incremental Facility of Other Term Loans and the Commitments and extensions of credit thereunder and (e) any Replacement Facility and the Commitments and extensions of credit thereunder. 

  
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 “First Amendment Incremental Term Loan Commitment”: the commitment of a Lender
to make a First Amendment Incremental Term Loan pursuant to Section 2.4 and the other terms and conditions of this Agreement, and “First Amendment Incremental Term Loan Commitments” means such commitments of all of the Lenders in the
aggregate. The First Amendment Incremental Term Loan Commitment amount of each First Amendment Incremental Term Loan Lender is set forth opposite such Lender’s name in Schedule 1 to the Second Incremental Facility Amendment, as such amounts may
be adjusted from time to time in accordance with this Agreement. The aggregate amount of First Incremental Amendment Incremental Term Loan Commitments as of the First Incremental Effective Date was $660,000,000. The aggregate amount of First
Amendment Incremental Term Loan Commitments as of the Second Incremental Effective Date is $2,000,000,000. 
 “Lenders”: the
Persons listed on Schedule 2.1 and any other Person that shall have become a party hereto as a lender pursuant to an Assignment and Assumption or an Incremental Facility Amendment, other than any such Person that ceases to be a party hereto as a
lender pursuant to an Assignment and Assumption or a repayment in full of all Term Loans funded by such Person. 
 “Maturity
Date”: (i) with respect to the Senior Lien Term Loan Facility, the Senior Lien Term Loan Maturity Date, (ii) with respect to the First Amendment Incremental Term Loan Facility, the First Incremental Facility Maturity Date and
(iii) with respect to the Second Amendment Incremental Term Loan Facility, the Second Incremental Facility Maturity Date; provided, that the reference to Maturity Date with respect to any other Term Loans shall be the final maturity date
as specified in the applicable Incremental Facility Amendment or Replacement Facility Amendment, and with respect to any Extended Term Loans in respect thereof, shall be the final maturity date as specified in the applicable Extension Offer. 

“Permitted Investments”: 

... 
 (i) any payment on or with
respect to, or purchase, redemption, defeasement or other acquisition or retirement for value of (i) any of the Term Loans or (ii) any other Indebtedness that is pari passu in right of payment with the foregoing, other than Subordinated
Indebtedness and Indebtedness secured by a Lien ranking junior to that securing any of the Senior Lien Term Loans, the First Amendment Incremental Terms Loans and the Second Amendment Incremental Term Loans; 

... 
 “Qualified
Counterparty”: with respect to any Specified Hedge Agreement or Cash Management Obligation, any counterparty thereto that that is designated as such by written notice by the Borrower to the Administrative Agent. 

  
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 “Term Loan Facility”: the Senior Lien Term Loan Facility, the First Amendment
Incremental Term Loan Facility, the Second Amendment Incremental Term Loan Facility, a facility consisting of Incremental Term Loans, or a Replacement Facility consisting of Term Loans. 

“Term Loans”: any term loans made pursuant to this Agreement (including for the avoidance of doubt, any Senior Lien Term
Loans, First Amendment Incremental Term Loans, Second Amendment Incremental Term Loans, other Incremental Term Loans, Replacement Term Loans, and Extended Term Loans, if any). 

(c) Section 1.2 of the Credit Agreement is hereby amended by adding a new Section 1.2(f) as follows: 

(f)    When used in respect of any Facility, Borrowing or Loan, the verb “mature”, the noun “maturity”,
the defined term “Maturity Date” (whether used in isolation or within any other defined term herein), the defined term “Stated Maturity” and the expression “maturity date” shall be deemed to refer to the final maturity
date of such Facility, Borrowing or Loan following any extension of the initially specified maturity date, pursuant to the provisions hereof. 

(d) Section 2 of the Credit Agreement is hereby amended by adding a new Section 2.26 as
follows: 
 2.26. Automatic Extension of First Incremental Term Loan Facility and Second Incremental Term Loan Facility.
(a) Notwithstanding any other provision of this Agreement to the contrary, unless written objection is provided either by any Lender under and with respect to any portion of the First Amendment Incremental Term Loan Facility to the Borrower and
the Administrative Agent or by the Borrower to such Lender and the Administrative Agent no later than 30 days prior to the First Incremental Facility Maturity Date, such Lender and the Borrower mutually agree that the First Incremental Facility
Maturity Date for all amounts due and payable under such portion of the First Amendment Incremental Term Loan Facility shall be automatically extended for an additional period of two years plus 180 days. 

(b) Notwithstanding any other provision of this Agreement to the contrary, unless written objection is provided either by any Lender under and
with respect to any portion of the Second Amendment Incremental Term Loan Facility to the Borrower and the Administrative Agent or by the Borrower to such Lender and the Administrative Agent no later than 30 days prior to the Second Incremental
Facility Maturity Date, such Lender and the Borrower mutually agree that the Second Incremental Facility Maturity Date for all amounts due and payable under such portion of the Second Amendment Incremental Term Loan Facility shall be automatically
extended for an additional period of three years plus 180 days. 

  
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 (e) Section 2.3 of the Credit Agreement is hereby amended by replacing
its heading and adding a new Section 2.3(c) as follows: 
 2.3     Repayment of Senior Lien Term Loans, the
First Amendment Incremental Term Loans and Second Amendment Incremental Term Loans. 
 (c)    The Second Amendment
Incremental Term Loan of each Second Amendment Incremental Term Loan Lender shall be repaid in consecutive quarterly installments on the last day of each fiscal quarter of the Borrower or, if such date is not a Business Day, on the last Business Day
of such fiscal quarter (each, a “Second Amendment Incremental Term Loan Installment Date”), commencing on March 31, 2017, each of which shall be in an amount equal to such Lender’s Second Amendment Incremental Term
Loan Percentage multiplied by the amount equal to 0.25% of the aggregate principal amount of the Second Amendment Incremental Term Loan Facility on the Second Incremental Facility Closing Date; provided, that the final principal repayment
installment of the Second Amendment Incremental Term Loans repaid on the Second Incremental Facility Maturity Date shall be, in any event, in an amount equal to the aggregate principal amount of all Second Amendment Incremental Term Loans
outstanding on such date. 
 (f) Section 2.4 of the Credit Agreement is hereby replaced in its entirety as
follows: 
 Subject to the terms and conditions hereof, (i) each First Amendment Incremental Term Loan Lender severally agrees to make
available to the Borrower, and the Borrower hereby requests from each First Amendment Incremental Term Loan Lender, to make available, in a single draw, a term loan (which shall be funded at 100% of the principal amount thereof) on the First
Incremental Closing Date in an amount of the First Amendment Incremental Term Loan Commitments of such First Amendment Incremental Term Loan Lender and the Type of such term loan shall be a Eurodollar Loan with the initial Interest Period specified
in the Borrowing Request for the First Amendment Incremental Term Loan and (ii) each Second Amendment Incremental Term Loan Lender severally agrees to make available to the Borrower, and the Borrower hereby requests from each Second Amendment
Incremental Term Loan Lender, to make available, in a single draw, a term loan (which shall be funded at 100% of the principal amount thereof) on the Second Incremental Closing Date in an amount of the Second Amendment Incremental Term Loan
Commitments of such Second Amendment Incremental Term Loan Lender and the Type of such term loan shall be a Eurodollar Loan with the initial Interest Period specified in the Borrowing Request for the Second Amendment Incremental Term Loan. 

(g) Section 2.12(b)(i) of the Credit Agreement is hereby replaced in its entirety as follows: 

(i)    any mandatory prepayments of Term Loans pursuant to Section 2.14 shall be applied to the remaining scheduled
principal installments (a) in the case of the Senior Lien Term Loans, the First Amendment Incremental Term Loans and the Second Amendment Incremental Term Loans, in direct order of maturity and (b) in the case of any other Term Loans, in
the order specified in the applicable Permitted Amendment, and 

  
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 (h) Section 2.14(a) of the Credit Agreement is hereby amended by replacing the first
sentence therein with the following: 
 “If Indebtedness is incurred by any Group Member (other than Indebtedness permitted under
Section 6.3), then on the date of such issuance or incurrence, an amount equal to 100% of the Net Proceeds thereof shall be applied to the prepayment of the Senior Lien Term Loans (together with accrued and unpaid interest thereon), the First
Amendment Incremental Term Loans (together with accrued and unpaid interest thereon) and the Second Amendment Incremental Term Loans (together with accrued and unpaid interest thereon) on an equal and ratable basis as set forth in Section
2.14(f).” 
 (i) Section 2.14(b) of the Credit Agreement is hereby replaced in its entirety as follows: 

“(b) If on any date there shall be any Excess Proceeds, and the aggregate amount of such Excess Proceeds shall exceed $100.0 million,
then no later than 20 days thereafter and subject to Section 2.14(i), an amount equal to 100% of the amount of such Excess Proceeds (not only the amount in excess of $100.0 million) shall be applied to the prepayment of the Senior Lien Term Loans
(together with accrued and unpaid interest thereon), the First Amendment Incremental Term Loans (together with accrued and unpaid interest thereon) and the Second Amendment Incremental Term Loans (together with accrued and unpaid interest thereon)
on an equal and ratable basis as set forth in Section 2.14(f).” 
 (j) Section 2.14(g) of the Credit Agreement is hereby
replaced in its entirety as follows: 
 (g)    Notwithstanding anything in this Section 2.14 to the contrary, if any
amount shall be required to be applied to prepay Senior Lien Term Loans, the First Amendment Incremental Term Loans or Second Amendment Incremental Term Loans pursuant to clauses (a), (b) or (c) above (such amount, the “Required
Prepayment Amount”), and at the time that any such prepayment would be required, the Borrower is required to, or required to offer to, repurchase or redeem or repay or prepay any other Indebtedness secured on a pari passu basis with the
Obligations pursuant to the terms of the documentation governing such Indebtedness (such Indebtedness required to be, or to be offered to be, so repurchased, redeemed, prepaid or repaid, “Other Applicable Indebtedness”), then the
Borrower may apply such Required Prepayment Amount on a pro rata basis (determined on the basis of the aggregate outstanding principal amount of the Senior Lien Term Loans, First Amendment Incremental Term Loans, Second Amendment Incremental Term
Loans, and Other Applicable Indebtedness at such time; provided, that the portion of such net proceeds allocated to the Other Applicable Indebtedness shall not exceed the amount of such net proceeds required to be allocated to the Other
Applicable Indebtedness pursuant to the terms thereof, and the remaining amount, if any, of such net proceeds shall be allocated to the Senior Lien Term Loans, the First Amendment Incremental Term Loans and the Second Amendment Incremental Term
Loans in accordance with the terms hereof) to the prepayment of the Senior Lien Term Loans, the First Amendment Incremental Term Loans and Second Amendment Incremental Term Loans and to the repurchase or repayment of Other Applicable Indebtedness,
and 

  
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the amount of the prepayment of the Senior Lien Term Loans, the First Amendment Incremental Term Loans and Second Amendment Incremental Term Loans that would have otherwise been required pursuant
to this Section 2.14 shall be reduced accordingly; provided, further, that to the extent the holders of Other Applicable Indebtedness decline to have such indebtedness so repurchased or repaid, the declined amount shall promptly
(and in any event within five Business Days after the date of such rejection, or, if later, the date on which the portion of the Required Prepayment Amount allocated to the Senior Lien Term Loans, the First Amendment Incremental Term Loans and
Second Amendment Incremental Term Loans are applied to prepayment of the Senior Lien Term Loans, the First Amendment Incremental Term Loans and Second Amendment Incremental Term Loans) be applied to prepay the Senior Lien Term Loans, the First
Amendment Incremental Term Loans and Second Amendment Incremental Term Loans in accordance with the terms hereof (to the extent such amount would otherwise have been required to be so applied if such Other Applicable Indebtedness was not then
outstanding). 
 (k) Section 2.14(h) of the Credit Agreement is hereby replaced in its entirety as follows: 

(h)    Notwithstanding anything in this Section 2.14 to the contrary, any Senior Lien Term Loan Lender, First
Amendment Incremental Term Loan Lender or Second Amendment Incremental Term Loan Lender (and, to the extent provided in the applicable Permitted Amendment, any other Term Loan Lender) may elect, by notice to the Administrative Agent by telephone
(confirmed by hand delivery, facsimile or, in accordance with the second paragraph of Section 9.1, e-mail) at least one Business Day prior to the required prepayment date, to decline all of any mandatory
prepayment of its Term Loans pursuant to clauses (b) and (c) of this Section 2.14, in which case the aggregate amount of the prepayment that would have been applied to prepay Term Loans but was so declined may be retained by the Group
Members (such declined amounts to the extent retained by the Group Members, the “Declined Proceeds”). 
 (l) Section
2.23(a) of the Credit Agreement is hereby amended by replacing the first sentence therein with the following: 
 “At any time and
from time to time, subject to the terms and conditions set forth herein, the Borrower may, by notice to the Administrative Agent (whereupon the Administrative Agent shall promptly deliver a copy of such notice to each of the Lenders), request to
incur additional Senior Lien Term Loans, incur additional First Amendment Incremental Term Loans, incur additional Second Amendment Incremental Term Loans or add one or more additional tranches of term loans (such term loans under such additional
tranches, the “Other Term Loans” and, together with any additional Senior Lien Term Loans, any additional First Amendment Incremental Term Loans and any additional Second Amendment Incremental Term Loans incurred pursuant to this
Section 2.23, the “Incremental Facilities”; the loans thereunder, the “Incremental Term Loans”).” 

  
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 (m) Section 2.23(b) of the Credit Agreement is hereby replaced in its entirety as
follows: 
 (b)    Any Other Term Loans (i) shall rank pari passu in right of payment and security with the
Obligations in respect of the other outstanding Term Loans as set forth in the relevant Incremental Facility Amendment (which shall be reasonably satisfactory to the Administrative Agent) and shall not be guaranteed by any Subsidiary that is not
also a Guarantor, (ii) for purposes of prepayments, shall be treated substantially the same as (or, to the extent set forth in the relevant Incremental Facility Amendment, less favorably than) the other outstanding Term Loans and
(iii) other than amortization, maturity date, conditions precedent and pricing (including interest rate, fees, funding discounts and prepayment premiums) (as set forth in the relevant Incremental Facility Amendment), shall have and be issued on
the same terms as the Senior Lien Term Loans, First Amendment Incremental Term Loans and Second Amendment Incremental Term Loans or such terms that are, when taken as a whole, not materially more favorable (as reasonably determined by the Borrower
in good faith) to the investors or lenders providing such Other Term Loans than the terms and conditions, taken as a whole, applicable to the then existing Senior Lien Term Loans, the First Amendment Incremental Term Loans and Second Amendment
Incremental Term Loans (except with respect to covenants (including any financial maintenance covenant added for the benefit of lenders providing such Other Term Loans) and other provisions so long as such covenants or other provisions (1) are
also added for the benefit of the Lenders of all then outstanding Term Loans or (2) only become applicable after the Latest Maturity Date of the then outstanding Term Loans at the time of such incurrence of such Other Term Loans);
provided, that (A) in respect of any Other Term Loans incurred on or prior to the date that is 18 months after the Closing Date, if the effective yield (which, for such purpose only, shall be deemed to take account of interest rate
margin and any then applicable benchmark floors (provided, that such differential between interest rate floors shall be equated to the applicable effective yield only to the extent an increase in the interest rate floor under the Initial
Senior Lien Term Loans would cause an increase in the interest rate then in effect thereunder) and including any amendment to the applicable interest rate margin on the Initial Senior Lien Term Loans that became effective subsequent to the Closing
Date but prior to the time of the addition of such Incremental Facilities, recurring fees and all upfront or similar fees or original issue discount (amortized over four years) payable to all Lenders providing such Other Term Loans (but excluding
any bona fide arrangement, underwriting, structuring, syndication or other fees payable in connection therewith that are not shared with all Lenders (in their capacity as such) providing such Other Term Loans)) on such Other Term Loans determined as
of the initial funding date for such Other Term Loans exceeds the effective yield (determined on same basis as the preceding parenthetical) on the Initial Senior Lien Term Loans immediately prior to the effectiveness of the applicable Incremental
Facility Amendment by more than 0.50%, the Applicable Margin relating to the Initial Senior Lien Term Loans shall be adjusted and/or the Borrower will pay additional fees to Lenders holding such Initial Senior Lien Term Loans in order that such
effective yield on such Other Term Loans shall not exceed such effective yield on the Initial Senior Lien Term Loans by more than 0.50% (provided, that to the extent such adjustment is required due to the application of a higher interest rate
benchmark floor on such Other Term Loans, such adjustment shall be effected (to such extent) solely through an increase in the interest rate benchmark floor of the Initial Senior Lien Term Loans (or if no interest rate benchmark floor applies to the
Initial Senior 

  
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Lien Term Loans at such time, an interest rate benchmark floor shall be added)), (B) any Other Term Loans shall not have a final maturity date earlier than the then Latest Maturity Date of the
then remaining Senior Lien Term Loans, First Amendment Incremental Term Loans, Second Amendment Incremental Term Loans or other then existing Incremental Term Loans and (C) any Other Term Loans shall not have a Weighted Average Life to Maturity
that is shorter than the Weighted Average Life to Maturity of the later of the then remaining Senior Lien Term Loans, First Amendment Incremental Term Loans or Second Amendment Incremental Term Loans, or other then existing Incremental Term Loans,
as applicable (determined, solely for the purposes of this clause (C), without giving effect to prepayments that reduced amortization of the then remaining Term Loans). 

(n) Clause (B) of the proviso in Section 2.24(b) is hereby replaced in its entirety as follows: 

“(B) any Replacement Term Loans shall either (x) not be subject to any amortization prior to final maturity or (y) be subject to
the same amortization schedule as the then remaining Term Loans under the applicable Class (determined, solely, for the purposes of this clause (B), without giving effect to prepayments that reduced amortization of the then remaining Term
Loans),” 
 (o) Section 4.2(a) of the Credit Agreement is hereby replaced in its entirety as follows: 

(a)    the representations and warranties in Section 3 (other than Section 3.2) of the Credit
Agreement shall be true and correct in all material respects (or, in the case of any such representation that is qualified by materiality, in all respects) on and as of the Second Incremental Facility Effective Date as if made on and as of such
date, except for representations and warranties expressly stated to relate to a specific earlier date, in which case such representations and warranties, as applicable, shall be true and correct in all material respects (or, in the case of any such
representation that is qualified by materiality, in all respects) as of such earlier date; 
 (p) Section 4.2(d) of the Credit
Agreement is hereby amended by replacing the words “substantially in the form of Exhibit A to the First Incremental Facility Amendment” with “substantially in the form of Exhibit A to the Second Incremental Facility Amendment.”

 (q) Section 4.2(f) of the Credit Agreement is hereby amended by replacing the words “substantially in the form of Exhibit B
to the First Incremental Facility Amendment” with “substantially in the form of Exhibit B to the Second Incremental Facility Amendment.” 

(r) The Credit Agreement shall be amended by adding the following as a new Section 4.3: 

4.3 Conditions to Second Incremental Facility Closing Date. The agreement of each Second Amendment Incremental Term Loan Lender to make the
Second Amendment Incremental Term Loans requested to be made by it pursuant to Section 2.4 is subject to the satisfaction (or waiver in accordance with Section 9.2), prior to or concurrently with the making of such extension of credit on
the Second Incremental Facility Closing Date, of the following conditions precedent: 
 (a)    the
representations and warranties in Section 3 (other than Section 3.2) of the Credit Agreement shall be true and correct in all material respects (or, 

  
 12 

 
in the case of any such representation that is qualified by materiality, in all respects) on and as of the Second Incremental Facility Closing Date as if made on and as of such date, except for
representations and warranties expressly stated to relate to a specific earlier date, in which case such representations and warranties, as applicable, shall be true and correct in all material respects (or, in the case of any such representation
that is qualified by materiality, in all respects) as of such earlier date; 
 (b)    no Default or
Event of Default has occurred and is continuing on the Second Incremental Facility Closing Date or after giving effect to the incurrence of the Second Amendment Incremental Term Loans to be made on the Second Incremental Facility Closing Date; 

(c)    as of the Second Incremental Facility Closing Date, the aggregate amount of the Incremental
Facilities incurred under the Credit Agreement (including the Second Amendment Incremental Term Loans) does not exceed the amount permitted under Section 2.23(a) of the Credit Agreement; 

(d)    the Administrative Agent (or its counsel) shall have received a certificate of the Borrower
substantially in the form of Exhibit C to the Second Incremental Facility Amendment, dated the Incremental Facility Closing Date, certifying that the conditions set forth in Sections 4.3(a), 4.3(b), and 4.3(c) herein have been satisfied; 

(e)    all fees and expenses in connection with the Second Amendment Incremental Term Loans (including
reasonable out of pocket legal fees and expenses) payable by the Borrower to the Second Amendment Incremental Term Loan Lenders and the Administrative Agent on or before the Second Incremental Facility Closing Date shall have been paid to the extent
then due; provided, that all such amounts shall be required to be paid, as a condition precedent to the Second Incremental Facility Closing Date, only to the extent invoiced at least two Business Days prior to the Second Incremental Facility Closing
Date; 
 (f)    the Administrative Agent shall have received a solvency certificate substantially in the
form of Exhibit D to the Second Incremental Facility Amendment from a Responsible Officer of the Borrower with respect to the solvency of the Borrower, on a consolidated basis together with its Subsidiaries, after giving effect to the incurrence of
the Second Amendment Incremental Term Loans; and 
 (g)    the Administrative Agent shall have received
delivery of a Borrowing Request substantially in the form of Exhibit I not later than 11:59 p.m., New York City time, on the Second Incremental Facility Closing Date. 

(s) Section 5.12 of the Credit Agreement is hereby replaced in its entirety as follows: 

5.12 Ratings. (i) At all times, the Borrower shall use commercially reasonable efforts to maintain a public corporate credit rating
from S&P and a public corporate family rating from Moody’s, in each case with respect to Parent; and (ii) upon written request by any 

  
 13 

 
Lender, use commercially reasonable efforts to cause the Term Loan Facility to be rated by S&P and Moody’s (it being understood that, upon any such request and rating, there shall be no
obligation to maintain specific ratings from either S&P or Moody’s). 
 (t) Section 6.1(a)(iii) of the Credit Agreement is
hereby replaced in its entirety as follows: 
 “(iii) make any payment on or with respect to, or purchase, redeem, defease, or otherwise
acquire or retire for value any Subordinated Indebtedness or Indebtedness secured by a Lien ranking junior to that securing the Senior Lien Term Loans, First Amendment Incremental Term Loans and Second Amendment Incremental Term Loans (excluding any
intercompany Indebtedness between or among the Borrower and any of its Restricted Subsidiaries), except a payment of interest or principal at the Stated Maturity thereof; or” 

(u) Clause (b) of the second paragraph of Section 6.4 of the Credit Agreement is hereby amended
by replacing each occurrence of the words “Senior Lien Term Loans and First Amendment Incremental Term Loans” therein with the words “Senior Lien Term Loans, First Amendment Incremental Term Loans and Second Amendment Incremental Term
Loans”. 
 (v) Section 6.6 of the Credit Agreement is hereby amended by replacing each occurrence of the
words “Senior Lien Term Loans, the First Amendment Incremental Term Loans” with the words “Senior Lien Term Loans, the First Amendment Incremental Term Loans, the Second Amendment Incremental Term Loans”. 

SECTION 3. Incremental Term Loans.  

(a) Interest will begin accruing on the Second Amendment Incremental Term Loans on the Second Incremental Facility Closing Date. 

(b) From and after the date hereof, the Second Amendment Incremental Term Loan Lenders shall constitute “Lenders” and the Second
Amendment Incremental Term Loans shall constitute “Term Loans”, in each case for all purposes of the Credit Agreement and the other Loan Documents. 

(c) The proceeds of the Second Amendment Incremental Term Loans will be used by the Borrower for general corporate purposes (including,
without limitation, for redemptions and/or repayments of Indebtedness) and to pay fees and expenses incurred in connection with the incurrence of the Second Amendment Incremental Term Loans. 

SECTION 4. Representations and Warranties. To induce the other parties hereto to enter into this Agreement, the Borrower hereby
represents and warrants to each Agent and each Lender party hereto that: 
 (a) (i) the execution and delivery of this Agreement is
within the corporate, limited liability company, or partnership (as applicable) powers of each of the Loan Parties party hereto, and has been (or as of the Second Incremental Facility Closing Date will be) duly authorized by all necessary corporate,
limited liability company or partnership (as applicable) and, if required, stockholder, member or partner (as applicable) action (including, any action required to be taken by any class of directors of the Borrower, whether interested or
disinterested, 

  
 14 

 
in order to ensure the due authorization of this Agreement) on the part of such Loan Parties, (ii) this Agreement has been duly executed and delivered by each Loan Party party hereto and
constitutes a legal, valid and binding obligation of such Loan Party enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and
subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law, and (iii) the execution, delivery and performance by each Loan Party of this Agreement (x) will not violate any applicable law,
regulation or any order of any Governmental Authority or the charter, bylaws or other organizational documents of Parent or any Group Member (except for any violation of any applicable law, regulation or order of any Governmental Authority that
would not reasonably be expected to have a Material Adverse Effect), (y) will not violate or result in a default under any Material Contractual Obligation binding upon Parent or any Group Member or its Properties, or give rise to a right thereunder
to require any payment to be made by Parent or such Group Member (except for any of the foregoing that would not reasonably be expected to have a Material Adverse Effect) and (z) will not result in the creation or imposition of any Lien on any
Property of Parent or any Group Member (other than Permitted Liens); 
 (b) the execution and delivery of this Agreement does not require
any consent or approval of, registration or filing with, or any other action by, any Governmental Authority or any other third Person (including shareholders, or any class of directors, whether interested or disinterested, of the Borrower or any
other person), nor is any such consent, approval, registration, filing or other action necessary for the validity or enforceability of this Agreement, except (i) such as have been obtained or made and are in full force and effect,
(ii) filings necessary to create, maintain or perfect Liens on the Collateral granted by the Loan Parties in favor of the Secured Parties, (iii) such consents, approvals, registrations, filings or other actions, other than those specified
in clause (iv) below, the absence of which or failure to obtain, would not reasonably be expected to have a Material Adverse Effect, and (iv) to the extent that the exercise of certain of the rights, powers, privileges and remedies of the
Administrative Agent or the Lenders may constitute a de jure or de facto voluntary or involuntary assignment of an FCC License or a voluntary or involuntary transfer of de jure or de facto control of the holder of any such FCC License, the
FCC’s prior consent thereto; 
 (c) no Default or Event of Default has occurred and is continuing; and 

(d) the representations and warranties in Sections 3.3, 3.4 and 3.5 of the Credit Agreement are true and correct in all material respects
(or, in the case of any such representation that is qualified by materiality, in all respects) on and as of the Incremental Facility Effective Date as if made on and as of such date, except for representations and warranties expressly stated to
relate to a specific earlier date, in which case such representations and warranties are true and correct in all material respects (or, in the case of any such representation that is qualified by materiality, in all respects) as of such earlier
date. 
 SECTION 5. Conditions Precedent to the Effectiveness of this Agreement. The effectiveness of this Agreement shall be subject
to the satisfaction (or waiver by Incremental Term Loan Lenders) of each of the following conditions (the first date on which all conditions are so satisfied or waived, the “Incremental Facility Effective Date”): 

(a) the Administrative Agent (or its counsel) shall have received counterparts of this Agreement that, when taken together, bear the
signatures of (1) the Borrower, (2) each Guarantor and (3) each Incremental Term Loan Lender; 

  
 15 

 (b) the representations and warranties in Sections 3.3, 3.4 and 3.5 of the Credit Agreement
shall be true and correct in all material respects (or, in the case of any such representation that is qualified by materiality, in all respects) on and as of the Incremental Facility Effective Date as if made on and as of such date, except for
representations and warranties expressly stated to relate to a specific earlier date, in which case such representations and warranties, as applicable, shall be true and correct in all material respects (or, in the case of any such representation
that is qualified by materiality, in all respects) as of such earlier date; 
 (c) no Default or Event of Default has occurred and is
continuing on the Incremental Facility Effective Date; 
 (d) the Administrative Agent shall have received, with respect to each Loan
Party: 
 (i) a copy of the charter or other similar Organizational Document, including all amendments thereto, of such
Person, certified as of a date reasonably near the Incremental Facility Effective Date as being a true and correct copy thereof by the Secretary of State or other applicable Governmental Authority of the jurisdiction in which such Person is
organized or incorporated; 
 (ii) a copy of a certificate of the Secretary of State or other applicable Governmental
Authority of the jurisdiction in which such Person is organized, dated reasonably near the Incremental Facility Effective Date, certifying that such Person is in good standing under the laws of such jurisdiction; and 

(iii) a certificate of the Secretary, Assistant Secretary or other appropriate Responsible Officer of such Person dated the
Incremental Facility Effective Date and certifying (A) that attached thereto is a true and complete copy of the by-laws or operating, management or partnership agreement of such Person as in effect on the
Incremental Facility Effective Date and at all times since a date prior to the date of the resolutions described in clause (B) below, (B) that attached thereto is a true and complete copy of resolutions duly adopted by the Board of
Directors (or other applicable body) of such Person authorizing the execution, delivery and performance of this Agreement and the transactions contemplated hereby, including, in the case of the Borrower, the Borrowings contemplated hereunder, and
that such resolutions have not been modified, rescinded or amended and are in full force and effect, (C) that the certificate or articles of incorporation or organization, partnership agreement or other constitutive document of such Person have
not been amended since the date the documents furnished pursuant to clause (i) above were certified, and (D) as to the incumbency and specimen signature of each officer executing this Agreement or any other document delivered in
connection herewith on behalf of such Person; 
 provided, that if the Administrative Agent shall have received a certificate of the Secretary or
Assistant Secretary of any Loan Party certifying that any certificate or articles of incorporation or organization or certification of formation, or by-laws or operating (or limited liability company)
agreement required to be delivered by such Loan Party pursuant to this Section 5(d)) has not been amended, restated or otherwise modified since the version thereof delivered in satisfaction of the conditions precedent to the Closing Date,
then no copy of such document shall be required to be delivered pursuant to this Section 5(d)); 

  
 16 

 (e) the Administrative Agent (or its counsel) shall have received a certificate of the Borrower,
dated the Incremental Facility Effective Date, certifying that the conditions set forth in Sections 5(b) and 5(c) herein have been satisfied; 

(f) the Administrative Agent shall have received all documentation and other information about the Loan Parties as has been reasonably
requested in writing five Business Days prior to the Incremental Facility Effective Date by the Administrative Agent with respect to applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT
ACT; and 
 (g) Amendment No. 2 to the Credit Agreement shall have become effective. 

SECTION 6. Effect of this Agreement. Except as expressly set forth herein, this Agreement shall not by implication or otherwise limit,
impair, constitute a waiver of, or otherwise affect the rights and remedies of the Lenders or the Agents under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions,
obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle any Loan
Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances.
This Agreement shall apply and be effective only with respect to the provisions of the Credit Agreement specifically referred to herein. After the Incremental Facility Effective Date, any reference to the Credit Agreement shall mean the Credit
Agreement as modified hereby. 
 SECTION 7. Reaffirmation. Each of the Borrower and each Guarantor identified on the signature pages
hereto (collectively, the “Reaffirming Loan Parties”) hereby acknowledges that it expects to receive substantial direct and indirect benefits as a result of this Agreement and the transactions contemplated hereby. Each
Reaffirming Loan Party hereby consents to this Agreement and the transactions contemplated hereby, and hereby confirms its respective guarantees (including in respect of the Incremental Term Loans), pledges and grants of security interests, as
applicable, under each of the Loan Documents to which it is party, and agrees that, notwithstanding the effectiveness of this Agreement and the transactions contemplated hereby, such guarantees, pledges and grants of security interests shall
continue to be in full force and effect and shall accrue to the benefit of the Secured Parties (including in respect of the Incremental Term Loan Lenders). Each of the Reaffirming Loan Parties agrees that, neither the modification of the Credit
Agreement effected pursuant to the Agreement nor the execution, delivery, performance or effectiveness of this Agreement (a) impairs the validity, effectiveness or priority of Liens granted pursuant to any Loan Document, and such Liens continue
unimpaired with the same priority to secure repayment of all Obligations (as defined in the Guarantee and Collateral Agreement and including the Incremental Term Loan), whether heretofore or hereafter incurred or (b) require that any new
filings be made or other action taken to perfect or to maintain the perfection of such Liens. Each of the Reaffirming Loan Parties further agrees to take any action that may be required or that is reasonably requested by the Administrative Agent to
effect the purposes of this Agreement, the transactions contemplated hereby or the Loan Documents and hereby reaffirms its obligations under each provision of each Loan Document to which it is party. 

  
 17 

 SECTION 8. Counterparts. This Agreement may be executed in one or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery by telecopier or other electronic transmission (e.g., “PDF” or “TIFF”) of an executed counterpart of a
signature page to this Agreement shall be effective as delivery of an original executed counterpart of this Agreement. 
 SECTION 9.
Headings. Section headings used herein are for convenience of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 10. Governing Law; Jurisdiction, etc. This Agreement shall be construed in accordance with and governed by the laws of the
State of New York. The provisions of Sections 9.9 and 9.10 of the Credit Agreement shall apply to this Agreement, mutatis mutandis. 

[Remainder of page intentionally left blank.] 

  
 18 

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

			
	BORROWER:
	
	T-MOBILE USA, INC.
		
	By:	 	 /s/ Dirk Wehrse

	Name:	 	Dirk Wehrse
	Title:	 	Senior Vice President, Treasury & Treasurer

 [Signature Page to the Second Incremental Facility Amendment to the Term Loan Credit Agreement] 

 
	
	GUARANTORS:
	
	IBSV LLC
	METROPCS CALIFORNIA, LLC
	METROPCS FLORIDA, LLC
	METROPCS GEORGIA, LLC
	METROPCS MASSACHUSETTS, LLC
	METROPCS MICHIGAN, LLC
	METROPCS NETWORKS CALIFORNIA, LLC
	METROPCS NETWORKS FLORIDA, LLC
	METROPCS NEW YORK, LLC
	METROPCS TEXAS, LLC
	METROPCS NEVADA, LLC
	METROPCS PENNSYLVANIA, LLC
	POWERTEL MEMPHIS LICENSES, INC.
	POWERTEL/MEMPHIS, INC.
	SUNCOM WIRELESS HOLDINGS, INC.
	SUNCOM WIRELESS INVESTMENT COMPANY, LLC
	SUNCOM WIRELESS LICENSE COMPANY, LLC
	SUNCOM WIRELESS MANAGEMENT COMPANY, INC.
	SUNCOM WIRELESS OPERATING COMPANY, L.L.C.
	SUNCOM WIRELESS PROPERTY COMPANY, L.L.C.
	SUNCOM WIRELESS, INC.
	T-MOBILE CENTRAL LLC
	T-MOBILE FINANCIAL LLC
	T-MOBILE LEASING LLC
	T-MOBILE LICENSE LLC
	T-MOBILE NORTHEAST LLC
	T-MOBILE PCS HOLDINGS LLC
	T-MOBILE PUERTO RICO HOLDINGS LLC
	T-MOBILE PUERTO RICO LLC
	T-MOBILE RESOURCES CORPORATION
	T-MOBILE SOUTH LLC
	T-MOBILE SUBSIDIARY IV CORPORATION
	T-MOBILE US, INC.
	T-MOBILE WEST LLC
	TRITON PCS FINANCE COMPANY, INC.
	TRITON PCS HOLDINGS COMPANY L.L.C.
	VOICESTREAM PCS I IOWA CORPORATION
	VOICESTREAM PITTSBURGH GENERAL PARTNER, INC.
	VOICESTREAM PITTSBURGH, L.P.

  

			
	By:	 	 /s/ Dirk Wehrse

	Name:	 	Dirk Wehrse
	Title:	 	Authorized Person

 [Signature Page to the Second Incremental Facility Amendment to the Term Loan Credit Agreement] 

 
			
	 DEUTSCHE BANK AG, NEW YORK BRANCH,

as Administrative Agent

		
	By:	 	 /s/ Dusan Lazarov

	Name:	 	Dusan Lazarov
	Title:	 	Director
		
	By:	 	 /s/ Peter Cucchiara

	Name:	 	Peter Cucchiara
	Title:	 	Vice President

 [Signature Page to the Second Incremental Facility Amendment to the Term Loan Credit Agreement] 

 
			
	 DEUTSCHE TELEKOM AG,
 as First
Amendment Incremental Term Loan Lender and Second Amendment Incremental Term Loan Lender

		
	By:	 	 /s/ Markus Schaefer

	Name:	 	Markus Schaefer
	Title:	 	VP Treasury
		
	By:	 	 /s/ Igor Soczynski

	Name:	 	Igor Soczynski
	Title:	 	VP Treasury

 [Signature Page to the Second Incremental Facility Amendment to the Term Loan Credit Agreement] 

 SCHEDULE I 

to the Second Incremental Facility Amendment 

Incremental Term Loans 
 First
Amendment Incremental Term Loan Commitments 
  

					
	 FIRST AMENDMENT INCREMENTAL
TERM

               
             LOAN LENDER                        

	  	FIRST AMENDMENT INCREMENTAL TERM
LOAN
COMMITMENTS	 
	 Deutsche Telekom AG
	  	$	2,000,000,000	  
		  	  
	  
	 
	 TOTAL:
	  	$	2,000,000,000	  
		  	  
	  
	 

 Second Amendment Incremental Term Loan Commitments 

 

					
	 SECOND AMENDMENT INCREMENTAL

               
  LOAN TERM LENDER                 
	  	SECOND AMENDMENT INCREMENTAL TERM
LOAN
COMMITMENTS	 
	 Deutsche Telekom AG
	  	$	2,000,000,000	  
		  	  
	  
	 
	 TOTAL:
	  	$	2,000,000,000	  
		  	  
	  
	 

 EXHIBIT A 

First Amendment Incremental Facility Closing Certificate 

CLOSING CERTIFICATE 
 T-MOBILE USA, INC. 
 [January 31], 2017 

Pursuant to Section 4.2(d) of the Term Loan Credit Agreement dated as of November 9, 2015 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”; terms defined therein being used herein as therein defined), among T-Mobile USA, Inc., a Delaware corporation (the
“Borrower”), the Guarantors, the several banks and other financial institutions or entities from time to time parties thereto as incremental term loan lenders and Deutsche Bank AG New York Branch, as administrative agent (together
with its successors and permitted assigns in such capacity, the “Administrative Agent”), the undersigned [    ], [    ] of the Company, hereby certifies on the date hereof as follows: 

1.    The representations and warranties in Section 3 (other than Section 3.2) of the Credit Agreement are true and correct in
all material respects (or, in the case of any such representation that is qualified by materiality, in all respects) as of the date hereof, except in the case of any representation expressly stated to relate to a specific earlier date, in which case
such representation is true and correct in all material respects (or, in the case of any such representation that is qualified by materiality, in all respects) as of such earlier date. 

2.    At the time of and immediately after giving effect to the making of the First Amendment Incremental Term Loans and Second Amendment
Incremental Term Loans, no Default or Event of Default shall have occurred and be continuing. 
 3.    The aggregate amount of the
Incremental Facilities incurred under the Credit Agreement (including the First Amendment Incremental Term Loans and the Second Amendment Incremental Term Loans) does not exceed the amount permitted under Section 2.23(a) of the Credit Agreement.

 [Signature page follows] 

 EXHIBIT A 

First Amendment Incremental Facility Closing Certificate 
  

 IN WITNESS WHEREOF, I have executed this certificate on the date first written above. 

 

			
	T-MOBILE USA, INC.
		
	By:	 	  

	Name:	 	[    ]
	Title:	 	[    ]

 EXHIBIT B 

First Amendment Incremental Facility Solvency Certificate 

SOLVENCY CERTIFICATE 

[January 31], 2017 
 This
Solvency Certificate is being executed and delivered pursuant to Section 4.2(f) of that certain Credit Agreement dated as of November 9, 2015, among T-Mobile USA, Inc., a Delaware corporation (the
“Borrower”), the several banks and other financial institutions or entities from time to time parties thereto as lenders, and Deutsche Bank AG New York Branch, as administrative agent and collateral agent (together with its
successors and permitted assigns in such capacities, the “Administrative Agent”), as amended by that certain First Incremental Facility Amendment, pursuant to which the First Amendment Incremental Term Loan Lenders have agreed to
increase their First Amendment Incremental Term Loan Commitments under the First Amendment Incremental Term Loan Facility in the aggregate principal amount of $1,340,000,000 and the Second Amendment Incremental Term Loan Lenders have agreed to
provide the Second Amendment Incremental Term Loan Facility to the Borrower in the aggregate principal amount of $2,000,000,000, and as further amended by that certain Amendment No. 1 to the Credit Agreement and that certain Amendment
No. 2 to the Credit Agreement (the “Credit Agreement”; the terms defined therein being used herein as therein defined). 

I, [                    ], a Responsible
Officer of the Borrower, in such capacity and not in an individual capacity, hereby certify as of the date hereof on behalf of Borrower as follows: 
  

	1.	The sum of the debt and liabilities (subordinated, contingent or otherwise) of the Borrower and its Subsidiaries, on a consolidated basis after giving effect to the incurrence of the First Amendment Incremental Term
Loans (the “Transaction”), does not exceed the fair value of the present assets of the Borrower and its Subsidiaries, on a consolidated basis after giving effect to the Transaction. 

 

	2.	The capital of the Borrower and its Subsidiaries, on a consolidated basis after giving effect to the Transaction, is not unreasonably small in relation to their business as conducted or contemplated to be conducted on
the date hereof. 

  

	3.	The present fair saleable value of the assets of the Borrower and its Subsidiaries, on a consolidated basis after giving effect to the Transaction, is greater than the total amount that will be required to pay the
probable liabilities (subordinated, contingent or otherwise), on a consolidated basis, of the Borrower and its Subsidiaries as they become absolute and matured. 

  

	4.	The Borrower and its Subsidiaries, on a consolidated basis after giving effect to the Transaction, have not incurred and do not intend to incur, or believe that they will incur, debts or other liabilities, including
current obligations, beyond their ability to pay such debts or other liabilities as they become due (whether at maturity or otherwise). 

  

	5.	For purposes of this Solvency Certificate, the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the
amount that can reasonably be expected to become an actual or matured liability. 

  

	6.	In reaching the conclusions set forth in this Solvency Certificate, the undersigned has (i) reviewed the Credit Agreement and other Loan Documents referred to therein and such other documents deemed relevant and
(ii) made such other investigations and inquiries as the undersigned has deemed appropriate. The undersigned is familiar with the financial performance and prospects of the Borrower and its Subsidiaries. 

 EXHIBIT B 

First Amendment Incremental Facility Solvency Certificate 
  

	7.	The undersigned confirms and acknowledges that the Administrative Agent, the First Amendment Incremental Term Loan Lenders and the Second Amendment Incremental Term Loan Lenders are relying on the truth and accuracy of
this Solvency Certificate in connection with the First Amendment Incremental Term Loans and the Second Amendment Incremental Term Loans under the Credit Agreement. 

[Signature page follows] 

 EXHIBIT B 

First Amendment Incremental Facility Solvency Certificate 
  

 IN WITNESS WHEREOF, I have executed this Solvency Certificate on the date first written
above. 
  

			
	T-MOBILE USA, INC.
		
	By:	 	  

	Name:	 	[     ]
	Title:	 	[     ]

 EXHIBIT C 

Second Amendment Incremental Facility Closing Certificate 

CLOSING CERTIFICATE 
 T-MOBILE USA, INC. 
 [January 31], 2017 

Pursuant to Section 4.3(d) of the Term Loan Credit Agreement dated as of November 9, 2015 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”; terms defined therein being used herein as therein defined), among T-Mobile USA, Inc., a Delaware corporation (the
“Borrower”), the Guarantors, the several banks and other financial institutions or entities from time to time parties thereto as incremental term loan lenders and Deutsche Bank AG New York Branch, as administrative agent (together
with its successors and permitted assigns in such capacity, the “Administrative Agent”), the undersigned [    ], [    ] of the Company, hereby certifies on the date hereof as follows: 

1.    The representations and warranties in Section 3 (other than Section 3.2) of the Credit Agreement are true and correct in
all material respects (or, in the case of any such representation that is qualified by materiality, in all respects) as of the date hereof, except in the case of any representation expressly stated to relate to a specific earlier date, in which case
such representation is true and correct in all material respects (or, in the case of any such representation that is qualified by materiality, in all respects) as of such earlier date. 

2.    At the time of and immediately after giving effect to the making of the Second Amendment Incremental Term Loans, no Default or Event
of Default shall have occurred and be continuing. 
 3.    The aggregate amount of the Incremental Facilities incurred under the Credit
Agreement (including the Second Amendment Incremental Term Loans) does not exceed the amount permitted under Section 2.23(a) of the Credit Agreement. 

[Signature page follows] 

 EXHIBIT C 

Second Amendment Incremental Facility Closing Certificate 
  

 IN WITNESS WHEREOF, I have executed this certificate on the date first written above. 

 

			
	T-MOBILE USA, INC.
		
	By:	 	  

	Name:	 	[    ]
	Title:	 	[    ]

 EXHIBIT D 

Second Amendment Incremental Facility Solvency Certificate 

SOLVENCY CERTIFICATE 

[January 31], 2017 
 This
Solvency Certificate is being executed and delivered pursuant to Section 4.2(f) of that certain Credit Agreement dated as of November 9, 2015, among T-Mobile USA, Inc., a Delaware corporation (the
“Borrower”), the several banks and other financial institutions or entities from time to time parties thereto as lenders, and Deutsche Bank AG New York Branch, as administrative agent and collateral agent (together with its
successors and permitted assigns in such capacities, the “Administrative Agent”), as amended by that certain First Incremental Facility Amendment, as further amended by that certain Amendment No. 1 to the Credit Agreement and
that certain Amendment No. 2 to the Credit Agreement, and as further amended by that certain Second Incremental Facility Amendment, pursuant to which the Second Amendment Incremental Term Loan Lenders have agreed to provide the Second Amendment
Incremental Term Loan Facility to the Borrower in the aggregate principal amount of $2,000,000,000 (the “Credit Agreement”; the terms defined therein being used herein as therein defined). 

I, [                    ], a Responsible
Officer of the Borrower, in such capacity and not in an individual capacity, hereby certify as of the date hereof on behalf of Borrower as follows: 
  

	1.	The sum of the debt and liabilities (subordinated, contingent or otherwise) of the Borrower and its Subsidiaries, on a consolidated basis after giving effect to the incurrence of the Second Amendment Incremental Term
Loans (the “Transaction”), does not exceed the fair value of the present assets of the Borrower and its Subsidiaries, on a consolidated basis after giving effect to the Transaction. 

 

	2.	The capital of the Borrower and its Subsidiaries, on a consolidated basis after giving effect to the Transaction, is not unreasonably small in relation to their business as conducted or contemplated to be conducted on
the date hereof. 

  

	3.	The present fair saleable value of the assets of the Borrower and its Subsidiaries, on a consolidated basis after giving effect to the Transaction, is greater than the total amount that will be required to pay the
probable liabilities (subordinated, contingent or otherwise), on a consolidated basis, of the Borrower and its Subsidiaries as they become absolute and matured. 

  

	4.	The Borrower and its Subsidiaries, on a consolidated basis after giving effect to the Transaction, have not incurred and do not intend to incur, or believe that they will incur, debts or other liabilities, including
current obligations, beyond their ability to pay such debts or other liabilities as they become due (whether at maturity or otherwise). 

  

	5.	For purposes of this Solvency Certificate, the amount of any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the
amount that can reasonably be expected to become an actual or matured liability. 

  

	6.	In reaching the conclusions set forth in this Solvency Certificate, the undersigned has (i) reviewed the Credit Agreement and other Loan Documents referred to therein and such other documents deemed relevant and
(ii) made such other investigations and inquiries as the undersigned has deemed appropriate. The undersigned is familiar with the financial performance and prospects of the Borrower and its Subsidiaries. 

 EXHIBIT D 

Second Amendment Incremental Facility Solvency Certificate 
  

	7.	The undersigned confirms and acknowledges that the Administrative Agent and the Second Amendment Incremental Term Loan Lenders are relying on the truth and accuracy of this Solvency Certificate in connection with the
Second Amendment Incremental Term Loans under the Credit Agreement. 

 [Signature page follows] 

 EXHIBIT D 

Second Amendment Incremental Facility Solvency Certificate 
  

 IN WITNESS WHEREOF, I have executed this Solvency Certificate on the date first written
above. 
  

			
	T-MOBILE USA, INC.
		
	By:	 	 
	Name:	 	[    ]
	Title:	 	[    ]Exhibit 4.1 

 

 

 

PATTERN
ENERGY GROUP INC.

 

as Issuer

PATTERN US FINANCE COMPANY LLC

 

as Guarantor

5.875% SENIOR NOTES DUE 2024

 

 

 

 

INDENTURE

Dated as of January 25, 2017

 

 

 

 

 

 

 

Deutsche
Bank Trust Company Americas

as Trustee

 

 

 

 

 

 

    

    

    

 

TABLE
OF CONTENTS

 

 

	 	Page
	 	 
	Article 1	 
	Definitions and Incorporation by
    Reference	1
	 	 
	Section
    1.01.   Definitions.	1
	Section
1.02.   Other Definitions.	16
	Section
    1.03.   Incorporation by Reference of Trust Indenture Act.	17
	Section
    1.04.   Rules of Construction.	17
	 	 
	Article
    2	 
	The Issuance of Notes and Additional Securities	18
	 	 
	Section
    2.01.   Form and Dating of Notes; Creation of Additional Securities.	18
	Section
    2.02.   Execution and Authentication.	22
	Section
    2.03.   Registrar and Paying Agent.	22
	Section
    2.04.   Paying Agent to Hold Money in Trust.	23
	Section
    2.05.   Holder Lists.	23
	Section
    2.06.   Transfer and Exchange.	23
	Section
    2.07.   Issuance of Additional Notes.	39
	Section
    2.08.   Replacement Securities.	39
	Section
    2.09.   Outstanding Securities.	40
	Section
    2.10.   Treasury Securities.	40
	Section
    2.11.   Temporary Securities.	40
	Section
    2.12.   Cancellation.	41
	Section
    2.13.   CUSIP Numbers.	41
	Section
    2.14.   Defaulted Interest.	41
	 	 
	Article
    3	 
	Redemption and Prepayment	41
	 	 
	Section
    3.01.   Notices to Trustee.	41
	Section
    3.02.   Selection of Notes to Be Redeemed or Purchased.	42
	Section
    3.03.   Notice of Redemption.	43
	Section
    3.04.   Effect of Notice of Redemption.	44
	Section
    3.05.   Deposit of Redemption or Purchase Price.	44
	Section
    3.06.   Notes Redeemed or Purchased in Part.	44
	Section
    3.07.   Optional Redemption.	44
	Section
    3.08.   Mandatory Redemption.	46
	 	 
	Article
    4	 
	Covenants	46
	 	 
	Section
    4.01.   Payment of Notes.	46
	Section
    4.02.   Maintenance of Office or Agency.	46
	Section
    4.03.   Reports.	46

 

    i 

    

    

 

	Section
    4.04.   Compliance Certificate.	48
	Section
    4.05.   Taxes.	48
	Section
    4.06.   Stay, Extension and Usury Laws.	48
	Section
    4.07.   Liens.	48
	Section
    4.08.   Offer to Repurchase Upon Change of Control Triggering Event.	50
	Section
    4.09.   Existence.	53
	 	 
	Article
    5	 
	Successors	53
	 	 
	Section
    5.01.   Merger, Consolidation or Sale of Assets.	53
	Section
    5.02.   Successor Entity Substituted.	54
	 	 
	Article
    6	 
	Defaults and Remedies	55
	 	 
	Section
    6.01.   Events of Default.	55
	Section
    6.02.   Acceleration.	57
	Section
    6.03.   Other Remedies.	58
	Section
    6.04.   Waiver of Past Defaults.	58
	Section
    6.05.   Control by Majority.	58
	Section
    6.06.   Limitation on Suits.	58
	Section
    6.07.   Rights of Holders of Notes to Receive Payment.	59
	Section
    6.08.   Collection Suit by Trustee.	59
	Section
    6.09.   Trustee May File Proofs of Claim.	59
	Section
    6.10.   Priorities.	60
	Section
    6.11.   Undertaking for Costs.	60
	 	 
	Article
    7	 
	Trustee	60
	 	 
	Section
    7.01.   Duties of Trustee.	60
	Section
    7.02.   Rights of Trustee.	61
	Section
    7.03.   Individual Rights of Trustee.	63
	Section
    7.04.   Trustee’s Disclaimer.	63
	Section
    7.05.   Notice of Defaults.	63
	Section
    7.06.   [Intentionally omitted].	64
	Section
    7.07.   Compensation and Indemnity.	64
	Section
    7.08.   Replacement of Trustee.	65
	Section
    7.09.   Successor Trustee by Merger, etc.	66
	Section
    7.10.   Eligibility.	66
	 	 
	Article
    8	 
	Legal Defeasance and Covenant Defeasance	66
	 	 
	Section
    8.01.   Option to Effect Legal Defeasance or Covenant Defeasance.	66
	Section
    8.02.   Legal Defeasance and Discharge.	66
	Section
    8.03.   Covenant Defeasance.	67

 

    ii 

    

    

 

	Section
    8.04.   Conditions to Legal or Covenant Defeasance.	67
	Section
    8.05.   Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions.	69
	Section
    8.06.   Repayment to Company.	69
	Section
    8.07.   Reinstatement.	69
	 	 
	Article
    9	 
	Amendment, Supplement and Waiver	70
	 	 
	Section
    9.01.   Without Consent of Holders of Notes.	70
	Section
    9.02.   With Consent of Holders of Notes.	71
	Section
    9.03.   [Intentionally Omitted].	72
	Section
    9.04.   Revocation and Effect of Consents.	72
	Section
    9.05.   Notation on or Exchange of Notes.	73
	Section
    9.06.   Trustee to Sign Amendments, etc.	73
	 	 
	Article
    10	 
	Guarantees	73
	 	 
	Section
    10.01.   Guarantee.	73
	Section
    10.02.   Limitation on Guarantor Liability.	74
	Section
    10.03.   Execution and Delivery of Guarantee.	75
	Section
    10.04.   Releases.	75
	 	 
	Article
    11	 
	Satisfaction and Discharge	75
	 	 
	Section
    11.01.   Satisfaction and Discharge.	75
	Section
    11.02.   Application of Trust Money.	77
	 	 
	Article
    12	 
	Miscellaneous	77
	 	 
	Section
    12.01.   [Intentionally Omitted].	77
	Section
    12.02.   Notices.	77
	Section
    12.03.   [Intentionally Omitted].	79
	Section
    12.04.   Certificate and Opinion as to Conditions Precedent.	79
	Section
    12.05.   Statements Required in Certificate or Opinion.	79
	Section
    12.06.   Rules by Trustee and Agents.	79
	Section
    12.07.   No Personal Liability of Directors, Officers, Employees and Stockholders.	79
	Section
    12.08.   Governing Law.	80
	Section
    12.09.   Waiver of Trial by Jury.	80
	Section
    12.10.   No Adverse Interpretation of Other Agreements.	80
	Section
    12.11.   Successors.	80
	Section
    12.12.   Severability.	80
	Section
    12.13.   Counterpart Originals.	80
	Section
    12.14.   Table of Contents, Headings, etc.	80

 

    iii 

    

    

 

	Section
    12.15.   U.S.A. Patriot Act.	80

 

 

EXHIBITS

 

		Exhibit A	FORM OF NOTE

		Exhibit B	FORM OF CERTIFICATE OF
TRANSFER

		Exhibit C	FORM OF CERTIFICATE OF
EXCHANGE

 

    iv 

    

    

 

INDENTURE
dated as of January 25, 2017 among Pattern Energy Group Inc., a Delaware corporation, the Guarantor (as defined herein) and Deutsche
Bank Trust Company Americas, a New York banking corporation, as trustee (the “Trustee”).

 

The Company,
the Guarantor and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders
(as defined herein) of the 5.875% Senior Notes due 2024 (the “Notes”) and any other Additional Securities issued
pursuant to this Indenture after the date hereof:

 

Article
1

Definitions and Incorporation by Reference

 

Section 1.01.     
Definitions.  For purposes of the Notes, the following terms will have the meanings set forth in this ‎Section
1.01. For purposes of any Additional Securities issued under this Indenture, the Supplemental Indenture in respect of such Additional
Securities will specify the defined terms to be used therein, which may include some, all or none of the terms contained in this
‎Section 1.01.

 

“144A
Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Legend and
the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee
that will be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A.

 

“144A
Global Security” means a Global Security, in the form specified in the applicable Supplemental Indenture pursuant to
which such Series of Securities is created, bearing the Global Legend and the Private Placement Legend and deposited with or on
behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding
principal amount of the Securities sold in reliance on Rule 144A.

 

“Additional
Notes” means additional Notes (other than the Initial Notes) issued from time to time under this Indenture in accordance
with ‎Section 2.02, as part of the same series as the Initial
Notes.

 

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

 

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

 

    

    

    

 

“Agent”
means any Registrar, co-registrar, Paying Agent or additional paying agent.

 

“Applicable
Laws” means, as to any Person, any law, rule, regulation, ordinance or treaty, or any determination, ruling or other
directive by or from a court, arbitrator or other governmental authority, including any independent system operator, or any other
entity succeeding thereto, in each case applicable to or binding on such Person or any of its property or assets or to which such
Person or any of its property or assets is subject.

 

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

 

(1)       1.0%
of the principal amount of such Note; or

 

(2)       the
excess (if any) of:

 

(a)       the
present value at such redemption date of ‎(i) the redemption
price of such Note at February 1, 2020 (such redemption price being set forth in the table appearing in ‎Section
3.07) plus (ii) all required interest payments due on the Note through February 1, 2020 (excluding accrued but unpaid interest
to the redemption date), computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points;
over

 

(b)       the
then outstanding principal amount of the Note.

 

“Applicable
Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules
and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange.

 

“Bankruptcy
Law” means Title 11, U.S. Code or any similar federal or state law for the relief of debtors.

 

“Beneficial
Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act. The terms “Beneficially
Owns” and “Beneficially Owned” have a corresponding meaning.

 

“Board
of Directors” means:

 

(1)       with
respect to any corporation, the board of directors of the corporation or any duly authorized committee thereof;

 

(2)       with
respect to any partnership, the board of directors or managers of the general partner of the partnership or any duly authorized
committee thereof;

 

(3)       with
respect to a limited liability company, the managing member or members, board of managers or analogous governing body, or any
controlling committee

 

    2

    

    

 

of
managing members thereof (or any Board of Directors or committee of any such managing member; and

 

(4)       with
respect to any other Person, the board or any duly authorized committee thereof or committee of such Person serving a similar
function.

 

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

 

“Business
Day” means any day other than a Legal Holiday.

 

“Capital
Lease Obligation” means, at the time any determination is to be made, the amount of the liability in respect of a capital
lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP, and the Stated Maturity
thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which
such lease may be prepaid by the lessee without payment of a penalty.

 

“Capital
Stock” means:

 

(1)       in
the case of a corporation or company, corporate stock or shares;

 

(2)       in
the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock;

 

(3)       in
the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership interests;
and

 

(4)       any
other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions
of assets of, the issuing Person;

 

but excluding
from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any
right of participation with Capital Stock.

 

“Change
of Control” means the occurrence of any of the following:

 

(1)       the
direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a
series of related transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries taken
as a whole to any “person” (as that term is used in Section 13(d) of the Exchange Act, but excluding any employee
benefit plan of the Company or any of its Subsidiaries, and any person or entity acting in its capacity as trustee, agent or other
fiduciary or administrator of such plan) other than a Permitted Holder;

 

    3

    

    

 

(2)       the
adoption of a plan relating to the liquidation or dissolution of the Company;

 

(3)       the
consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person”
(as defined above), other than a Permitted Holder, becomes the Beneficial Owner, directly or indirectly, of more than 50% of the
Voting Stock of the Company; or

 

(4)       the
first day on which the Guarantor ceases to be a Wholly Owned Subsidiary of the Company.

 

Notwithstanding
the foregoing, a transaction will not be deemed to involve a Change of Control if (a) the Company becomes a direct or indirect
Subsidiary of a holding company, ‎(b) such holding company
beneficially owns, directly or indirectly, 100% of the Capital Stock of the Company and ‎(c)
upon completion of such transaction, the ultimate Beneficial Ownership of the Equity Interests of the Company has not been modified
by such transaction.

 

“Change
of Control Triggering Event” means the occurrence of a Change of Control and a Rating Event.

 

“Clearstream”
means Clearstream Banking, S.A.

 

“Company”
means Pattern Energy Group Inc., and any and all successors thereto.

 

“continuing”
means, with respect to any Default or Event of Default, that such Default or Event of Default has not been cured or waived.

 

“Corporate
Trust Office of the Trustee” means the address of the Trustee specified in ‎Section
12.02 or such other address as to which the Trustee may give notice to the Company.

 

“Contractual
Obligation” means, as applied to any Person, any provision of ‎(i)
any stock, shares, partnership interests, voting trust certificates, certificates of interest or participation in any profit-sharing
agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured,
convertible, subordinated or otherwise, or in general any instruments commonly known as “securities” or any certificates
of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to
subscribe to, purchase or acquire, any of the foregoing; or (ii) any indenture, mortgage, deed of trust, contract, undertaking,
agreement or other instrument to which that Person is a party or by which it or any of its properties is bound or to which it
or any of its properties is subject.

 

“Credit
Agreement” means that certain Amended and Restated Credit and Guaranty Agreement, dated as of December 17, 2014, among
the Guarantor, the other borrowers and guarantors party thereto, Royal Bank of Canada, as administrative agent, and the other
financial institutions party thereto, as amended, restated, supplemented, modified or replaced from time to time.

 

    4

    

    

 

“Credit
Facilities” means one or more debt facilities (including, without limitation, the Credit Agreement), credit agreements,
commercial paper facilities, note purchase agreements, indentures, or other agreements, in each case with banks, lenders, purchasers,
investors, trustees, agents or other representatives of any of the foregoing, providing for revolving credit loans, construction
loans, term loans, receivables financing (including through the sale of receivables or interests in receivables to such lenders
or other Persons or to special purpose entities formed to borrow from such lenders or other Persons against such receivables or
sell such receivables or interests in receivables), or letters of credit, notes, earn-out obligations constituting Indebtedness
or other borrowings or other extensions of credit, including any notes, mortgages, guarantees, collateral documents, instruments
and agreements executed in connection therewith, in each case, as amended, restated, modified, renewed, refunded, restated, restructured,
increased, supplemented, replaced or refinanced in whole or in part from time to time, including any replacement, refunding or
refinancing facility or agreement that increases the amount permitted to be borrowed thereunder or alters the maturity thereof
or adds entities as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender group of
lenders, counterparties or otherwise.

 

“Custodian”
means the Trustee, as custodian for DTC with respect to the Notes in global form, or any successor entity thereto.

 

“Default”
means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

 

“Definitive
Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with ‎Section
2.06. Definitive Notes will be substantially in the form of Exhibit A hereto except that such Note shall not bear the Global
Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached thereto.

 

“Definitive
Security” means a certificated Security registered in the name of the Holder thereof and issued in accordance with ‎Section
2.06. Definitive Securities with respect to all other Series of Securities will be in the form specified in the Supplemental Indenture
pursuant to which such Series of Securities is created.

 

“Depositary”
means, with respect to the Securities issuable or issued in whole or in part in global form, the Person specified in ‎Section
2.03 as the Depositary with respect to the Securities, and any and all successors thereto appointed as depositary hereunder and
having become such pursuant to the applicable provision of this Indenture.

 

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

 

“Environmental
CapEx Debt” means Indebtedness of the Company or any of its Subsidiaries incurred for the purpose of financing capital
expenditures to the extent deemed reasonably necessary, as determined by the Company or any of its Subsidiaries,

 

    5

    

    

 

as
applicable, in good faith and pursuant to prudent judgment, to comply with applicable Environmental Laws.

 

“Environmental
Laws” means all former, current and future federal, state, local and foreign laws (including common law), treaties,
regulations, rules, ordinances and codes, and legally binding decrees, judgments, directives and orders (including consent orders),
in each case, relating to protection of the environment, natural resources, occupational health and safety or the presence, release
of, or exposure to, hazardous materials, substances or wastes, or the generation, manufacture, processing, distribution, use,
treatment, storage, disposal, transport, recycling or handling of, or the arrangement for such activities with respect to, hazardous
materials, substances or wastes.

 

“Equity
Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any
debt security that is convertible into, or exchangeable for, Capital Stock).

 

“Equity
Offerings” means any public or private sale after the Issue Date of Capital Stock of the Company, the proceeds of which
have been contributed to the Company as common equity, other than:

 

(1)       public
offerings with respect to the Company’s common stock registered on Form S-4 or Form S-8; and

 

(2)       issuances
to any Subsidiary of the Company.

 

“Euroclear”
means Euroclear Bank, S.A./N.V., as operator of the Euroclear system.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations
promulgated by the Commission thereunder.

 

“Existing
Liens” means Liens on the property or assets of the Company and/or any of its Subsidiaries existing on the date of this
Indenture securing Indebtedness of the Company or any of its Subsidiaries (other than Liens incurred pursuant to clause ‎(i)
of ‎Section 4.07).

 

“Fair
Market Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction
not involving distress of either party, determined in good faith by the Company’s Board of Directors or senior management.

 

“GAAP”
means generally accepted accounting principles 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 have been approved by a significant segment of the accounting profession,
which are in effect from time to time; provided, however, that if any operating lease would be recharacterized as
a capital lease due to changes in the accounting treatment of such

 

    6

    

    

 

operating
leases under GAAP since the Issue Date, then solely with respect to the accounting treatment of any such lease, GAAP shall be
interpreted as it was in effect on the Issue Date. At any time after the Issue Date, the Company may elect to apply IFRS accounting
principles in lieu of GAAP and, upon any such election, references herein to GAAP will thereafter be construed to mean IFRS (except
as otherwise provided in the indenture); provided that any calculation or determination in the indenture that requires
the application of GAAP for periods that include fiscal quarters ended prior to the Company’s election to apply IFRS will
remain as previously calculated or determined in accordance with GAAP; provided, further, that the Company may only
make such election if it also elects to provide any subsequent financial reports required to be provided pursuant to the covenants
set forth under ‎Section 4.03 in accordance with IFRS. The
Company will give notice promptly of any such election made in accordance with this definition to the Trustee and the Holders
of the Notes.

 

“Global
Legend” means the legend set forth in ‎Section 2.06(f)(ii),
which is required to be placed on all Global Securities issued under this Indenture.

 

“Global
Notes” means, individually and collectively, each Restricted Global Note and each Unrestricted Global Note deposited
with or on behalf of and registered in the name of the Depositary or its nominee that bears the Global Legend and that has the
“Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with ‎Section
2.01, ‎2.06(b)(iii), ‎2.06(b)(iv),
‎2.06(d)(ii) or ‎2.06(f).

 

“Global
Securities” means, individually and collectively, each Restricted Global Security and each Unrestricted Global Security
(including the Global Notes) deposited with or on behalf of and registered in the name of the Depositary or its nominee that bears
the Global Legend and that has the “Schedule of Exchanges of Interests in the Global Securities” attached thereto,
issued in accordance with ‎Section 2.01, ‎2.06(b)(iii),
‎2.06(b)(iv), ‎2.06(d)(ii)
or ‎2.06(f). The Global Security in respect of the Notes will
be in the form of Exhibit A hereto.

 

“Government
Securities” means direct obligations of, or obligations guaranteed by, the United States of America (including any agency
or instrumentality thereof) for the payment of which obligations or guarantees the full faith and credit of the United States
of America is pledged and which are not callable or redeemable at the issuer’s option.

 

“Guarantee”
means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct
or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement
agreements in respect thereof, of all or any part of any Indebtedness (whether arising by virtue of partnership arrangements,
or by agreements to keep-well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement
conditions or otherwise).

 

“Guarantor”
means Pattern US Finance Company LLC, a Delaware limited liability company.

 

    7

    

    

 

“Hedging
Obligations” means, with respect to any specified Person, the obligations of such Person under:

 

(1)       currency
exchange, interest rate or commodity swap agreements, currency exchange, interest rate or commodity cap agreements and currency
exchange, interest rate or commodity collar agreements; and

 

(2)       ‎(i)
agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates, commodity
prices or commodity transportation or transmission pricing or availability; (ii) any netting arrangements, purchase and sale agreements
for renewable energy credits, fuel purchase and sale agreements, swaps, options and other agreements entered into for hedging
purposes, in each case, that fluctuate in value with fluctuations in energy, power or gas prices; and (iii) agreements or arrangements
for commercial or trading activities with respect to the purchase, transmission, distribution, sale, lease or hedge of any energy
related commodity or service.

 

“Holder”
means a Person in whose name a Security is registered.

 

“IFRS”
means the international accounting standards promulgated by the International Accounting Standards Board and its predecessors,
as adopted by the European Union, as in effect from time to time.

 

“Indebtedness”
means, with respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables, except
as provided in clause (5) below), whether or not contingent:

 

(1)       in
respect of borrowed money;

 

(2)       evidenced
by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof);

 

(3)       in
respect of banker’s acceptances;

 

(4)       representing
Capital Lease Obligations in respect of sale and leaseback transactions;

 

(5)       representing
the balance of deferred and unpaid purchase price of any property or services with a scheduled due date more than six months after
such property is acquired or such services are completed; or

 

(6)       representing
the net amount owing under any Hedging Obligations;

 

if and to
the extent any of the preceding items (other than letters of credit and Hedging Obligations) would appear as a liability upon
a balance sheet of the specified Person prepared in accordance with GAAP.

 

    8

    

    

 

In addition,
the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified Person
(whether or not such Indebtedness is assumed by the specified Person) and, to the extent not otherwise included, the Guarantee
by the specified Person of any Indebtedness of any other Person; provided that the amount of such Indebtedness shall be
deemed not to exceed the lesser of the amount secured by such Lien and the value of the Person’s property securing such
Lien.

 

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

 

“Indirect
Participant” means a Person who holds a beneficial interest in a Global Security through a Participant.

 

“Initial
Notes” means the first $350,000,000 in aggregate principal amount of Notes issued under this Indenture on the Issue
Date.

 

“Initial
Purchasers” means, with respect to the Initial Notes, Morgan Stanley & Co., LLC, Merrill Lynch, Pierce, Fenner &
Smith Incorporated, BMO Capital Markets Corp., Citigroup Global Markets Inc., RBC Capital Markets, LLC, SMBC Nikko Securities
America, Inc. and MUFG Securities Americas Inc., and shall include any other entity designated as such with respect to Additional
Notes or in any Supplemental Indenture with respect to any Series of Securities issued after the date of this Indenture.

 

“Investment
Grade Rating” means a rating of Baa3 or better by Moody’s or BBB- or better by S&P.

 

“Issue
Date” means January 25, 2017.

 

“Legal
Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City of New York or at a place of
payment are authorized or required by law, regulation or executive order to remain closed. If a payment date is a Legal Holiday
at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest
shall accrue on such payment for the intervening period unless otherwise specified.

 

“Lien”
means, with respect to any asset:

 

(1)       any
mortgage, deed of trust, deed to secure debt, lien (statutory or otherwise), pledge, hypothecation, encumbrance, restriction,
collateral assignment, charge or security interest in, on or of such asset;

 

(2)       the
interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing
lease having substantially the same economic effect as any of the foregoing) relating to such asset; and

 

(3)       in
the case of Equity Interests or debt securities, any purchase option, call or similar right of a third party with respect to such
Equity Interests or debt securities.

 

    9

    

    

 

“Moody’s”
means Moody’s Investors Service, Inc. or any successor entity.

 

“Necessary
CapEx Debt” means Indebtedness of the Company or any of its Subsidiaries incurred for the purpose of financing capital
expenditures (other than capital expenditures financed by Environmental CapEx Debt) that are required by Applicable Law or are
undertaken for health, safety or emergency reasons. The term “Necessary CapEx Debt” does not include any Indebtedness
incurred for the purpose of financing capital expenditures undertaken primarily to increase the efficiency of, expand or re-power
any power generation facility.

 

“Non-U.S.
Person” means a Person who is not a U.S. Person.

 

“Notes”
has the meaning assigned to it in the preamble to this Indenture. 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.

 

“Offering
Memorandum” means the offering memorandum dated January 20, 2017 in connection with the offering of the Initial Notes
by the Company.

 

“Officer”
means, with respect to any Person, the Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief
Operating Officer, the Chief Financial Officer, the Chief Accounting Officer, the Treasurer, the Chief Investment Officer, Assistant
Treasurer, the Secretary, the Controller, Assistant Secretary or any Senior Vice President, Executive Vice President or Vice President
of such Person.

 

“Officer’s
Certificate” means a certificate signed on behalf of the Company by an Officer of the Company, who must be the principal
executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company, that meets
the requirements of ‎Section 12.05.

 

“Opinion
of Counsel” means an opinion in writing from legal counsel who is reasonably acceptable to the Trustee, that meets the
requirements of ‎Section 12.05. The legal counsel may be an
employee of or counsel to the Company or any Subsidiary of the Company. Each such opinion shall include the statements provided
for in ‎Section 12.05 if and to the extent required by the
provisions of such ‎Section 12.05.

 

“Participant”
means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or
Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream).

 

“PEG
LP” means Pattern Energy Group LP, a Delaware limited partnership, and its successors and assigns.

 

“PEG
LP 2.0” means Pattern Energy Group 2 LP, a Delaware limited partnership, and its successors and assigns.

 

    10

    

    

 

“Permitted
Holder” means PEG LP and PEG LP 2.0 and any of their respective controlled Affiliates and any “person” (as
such term is used in Section 13(d)(3) or Section 14(d)(2) of the Exchange Act or any successor provision) or entity included in
a “group” of which PEG LP or PEG LP 2.0 or any of their respective controlled Affiliates is a member; provided
that in the case of such group and without giving effect to the existence of such group or any other group, PEG LP or PEG
LP 2.0, as applicable, or any of their respective controlled Affiliates, in the aggregate, have direct or indirect Beneficial
Ownership of more than 10% of the total voting power of the Voting Stock of the Company.

 

“Permitted
Equity Commitments” means obligations of the Company or any of its Subsidiaries to make any payment in respect of any
Equity Interest in any Project Subsidiary (and any related guarantee by the Company or any of its Subsidiaries).

 

“Permitted
Project Undertakings” means guarantees by or obligations of the Company or any of its Subsidiaries in respect of any
Project Obligation.

 

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

 

“PPA”
means, with respect to any Project, a long-term power purchase agreement, energy hedge contract or similar agreement.

 

“Principal
Property” means any building, structure or other facility, and all related property, plant or equipment or other long-term
assets used or useful in the ownership, development, construction or operation of such building, structure or other facility directly
owned or leased by the Company or the Guarantor and having a net book value in excess of 2.0% of Total Assets, except any such
building, structure or other facility (or related property, plant or equipment) that in the opinion of the Board of Directors
is not of material importance to the business conducted by the Company and its consolidated Subsidiaries, taken as a whole.

 

“Private
Placement Legend” means the legend set forth in ‎Section
2.06(f)(i) to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture.

 

“Project”
means a solar, wind, biomass, natural gas, hydroelectric, geothermal, renewable energy (including battery storage), conventional
power, electric transmission and distribution or water installations project (or a hybrid energy generating installation that
utilizes a combination of any of the foregoing), in each case whether commercial or residential in nature, and shall include economic
rights, creditor rights and other related rights in such project or convertible bonds or similar instruments related to such projects.

 

“Project
Debt” means any Indebtedness owed to a Person unrelated to the Company or any of its Subsidiaries or Affiliates with
respect to which neither the

 

    11

    

    

 

Company nor the Guarantor (a) is, or has any obligation (contingent or otherwise) to become, an obligor
under any agreements or contracts evidencing such Indebtedness (other than pursuant to Permitted Project Undertakings or Permitted
Equity Commitments) or ‎(b) has granted a Lien on any of its
assets as security (or has any obligation, contingent or otherwise, to do so).

 

“Project
Obligation” means, as to the Company or any Subsidiary of the Company, any Contractual Obligation (excluding, for avoidance
of doubt, Indebtedness for borrowed money) under

 

(1)       power
purchase agreements;

 

(2)       agreements
for the purchase and sale of energy and renewable energy credits, climate change levy exemption certificates, embedded benefits
and other environmental attributes;

 

(3)       decommissioning
agreements;

 

(4)       tax
indemnities;

 

(5)       operation
and maintenance agreements;

 

(6)       leases,
development contracts, construction contracts, management services contracts, share retention agreements, warranties, bylaws,
operating agreements, joint development agreements and other organizational documents; and

 

(7)       other
similar ordinary course contracts entered into in connection with owning, operating, developing or constructing Projects or selling
energy and renewable energy credits, climate change levy exemption certificates, embedded benefits and other environmental attributes.

 

“Project
Subsidiary” means

 

(1)       any
Subsidiary of Company that (a) ‎(i) is the owner, lessor and/or
operator of (or is formed to own, lease or operate) one or more Projects or conducts activities reasonably related or ancillary
thereto, (ii) is the lessee or borrower (or is formed to be the lessee or borrower) in respect of Project Debt in respect of one
or more Projects, and/or (iii) develops or constructs (or is formed to develop or construct) one or more Projects, ‎(b)
has no Subsidiaries and owns no material assets other than those assets or Subsidiaries necessary for the ownership, leasing,
development, construction or operation of such Projects or any activities reasonably related or ancillary thereto and ‎(c)
has no Indebtedness other than Project Debt and intercompany Indebtedness, and

 

(2) any Subsidiary
of the Company that (a) is the direct or indirect owner of all or a portion of the Equity Interests in one or more Persons, each
of which meets the qualifications set forth in (1) above, ‎(b)
has no Subsidiaries other than Subsidiaries each of which meets the qualifications set forth in clause (1) or clause (2)(a) above,
‎(c) owns no material assets other than those assets necessary
for the ownership, leasing,

 

    12

    

    

 

development,
construction or operation of Projects or any activities reasonably related or ancillary thereto and ‎(d)
has no Indebtedness other than Project Debt and intercompany Indebtedness.

 

“Rating
Event” means (x) the rating on the Notes is lowered and (y) the Notes are rated below an Investment Grade Rating, in
either case, by both of S&P and Moody’s on any day within the period (the “Trigger Period”) commencing on
the earlier of ‎(i) the occurrence of a Change of Control
and (ii) public announcement of the occurrence of a Change of Control or the Company’s or any Person’s intention to
effect a Change of Control and ending 60 days following the consummation of such Change of Control (which period will be extended
so long as the rating of the Notes is under publicly announced consideration for a possible downgrade by either of S&P or
Moody’s); provided, however, that a Rating Event otherwise arising by virtue of a particular reduction in
rating will not be deemed to have occurred in respect of a particular Change of Control (and thus will not be and thus will not
be deemed a Rating Event for purposes of the Change of Control Triggering Event) if (1) during the Trigger Period, the relevant
rating is subsequently upgraded to its level at the beginning of the Trigger Period (or better) or (2) S&P or Moody’s,
as applicable, publicly announces or informs the Trustee in writing at the Company’s request that the reduction was not
the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the applicable
Change of Control (whether or not the applicable Change of Control has occurred at the time of the Rating Event).

 

“QIB”
means a “qualified institutional buyer” as defined in Rule 144A.

 

“Refinancing
Liens” means Liens granted in connection with amending, extending, modifying, renewing, replacing, refunding or refinancing
in whole or in part any Indebtedness secured by Liens described in clauses ‎(ii)
through ‎(x) of ‎Section
4.07; provided that Refinancing Liens do not (a) extend to property or assets other than property or assets of the type
that were subject to the original Lien or ‎(b) secure Indebtedness
having a principal amount in excess of the amount of Indebtedness being extended, renewed, replaced or refinanced, plus the amount
of any fees and expenses (including premiums) related to any such extension, renewal, replacement or refinancing.

 

“Regulation
S” means Regulation S promulgated under the Securities Act.

 

“Regulation
S-K” means Regulation S-K promulgated under the Securities Act.

 

“Regulation
S-X” means Regulation S-X promulgated under the Securities Act.

 

“Regulation
S Global Note” means a Global Note substantially in the form of Exhibit A hereto bearing the Global Legend and
the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued
in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 903 of Regulation S.

 

    13

    

    

 

“Regulation
S Global Security” means a Global Security, in the form specified in the applicable Supplemental Indenture pursuant
to which such Series of Securities is created, bearing the Global Legend and the Private Placement Legend and deposited with or
on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal
amount of the Securities sold in reliance on Rule 903 of Regulation S.

 

“Responsible
Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of the Trustee
(or any successor group of the Trustee) who shall have direct responsibility for the administration of this Indenture and the
Notes and also means, with respect to a particular corporate trust matter, any other officer of the Trustee to whom such matter
is referred because of such person’s knowledge of and familiarity with the particular subject.

 

“Restricted
Definitive Note” means a Definitive Note bearing the Private Placement Legend.

 

“Restricted
Definitive Security” means a Definitive Security bearing the Private Placement Legend.

 

“Restricted
Global Note” means a Global Note bearing the Private Placement Legend.

 

“Restricted
Global Security” means a Global Security bearing the Private Placement Legend.

 

“Restricted
Period” means the 40-day distribution compliance period as defined in Regulation S.

 

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

 

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

 

“Rule
903” means Rule 903 promulgated under the Securities Act.

 

“Rule
904” means Rule 904 promulgated under the Securities Act.

 

“S&P”
means S&P Global Ratings or any successor entity.

 

“SEC”
means the Securities and Exchange Commission.

 

“Securities”
means all debentures, notes and other debt instruments of the Company of any Series authenticated and delivered under this Indenture,
including all Notes and Additional Securities.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

    14

    

    

 

“Series”
or “Series of Securities” means each series of Securities created pursuant to ‎Section
2.01 (for the avoidance of doubt, the Notes constitute a Series of Securities).

 

“Significant
Subsidiary” means any Subsidiary that would be a “significant subsidiary” as defined in ‎Article
1, Rule 1-02(w)(1) or (2) of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the
date of this Indenture.

 

“Stated
Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the date on
which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the
first date it was incurred in compliance with the terms of this Indenture, and will not include any contingent obligations to
repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof.

 

“Subsidiary”
means, with respect to any specified Person:

 

(1)       any
corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock
entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’
agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation,
association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more
of the other Subsidiaries of that Person (or a combination thereof); and

 

(2)       any
partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person
or ‎(b) the only general partners of which are that Person
or one or more Subsidiaries of that Person (or any combination thereof).

 

“Supplemental
Indenture” means any supplemental indenture entered into pursuant to ‎Section
2.01 to evidence the issuance of any Additional Securities after the date of this Indenture.

 

“TIA”
means the Trust Indenture Act of 1939, as amended (15 U.S.C. §§ 77aaa-77bbbb).

 

“Total
Assets” means, as of any date of determination, the total consolidated assets of the Company and its Subsidiaries, determined
on a consolidated basis in accordance with GAAP, as shown on the most recent internal consolidated balance sheet of the Company
available as of such date, but giving pro forma effect to any acquisition or disposition occurring on or prior to such date of
determination.

 

“Treasury
Rate” means, as of any redemption date, the yield to maturity as of the earlier of (a) such redemption date or ‎(b)
the date on which the Notes are defeased or satisfied and discharged, of United States Treasury securities with a constant maturity
(as compiled and published in the most recent Federal Reserve Statistical Release H.15 that

 

    15

    

    

 

has become publicly available at least
two business days prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available
source of similar market data)) most nearly equal to the period from the redemption date to February 1, 2020; provided,
however, that if the period from the redemption date to February 1, 2020 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.

 

“Trustee”
has the meaning assigned to it in the preamble to this Indenture.

 

“Unrestricted
Definitive Note” means a Definitive Note that does not bear and is not required to bear the Private Placement Legend.

 

“Unrestricted
Definitive Security” means a Definitive Security that does not bear and is not required to bear the Private Placement
Legend.

 

“Unrestricted
Global Note” means a Global Note that does not bear and is not required to bear the Private Placement Legend.

 

“Unrestricted
Global Security” means a Global Security that does not bear and is not required to bear the Private Placement Legend.

 

“U.S.
dollars” or “$” means the lawful currency of the United States of America.

 

“U.S.
Person” means a U.S. Person as defined in Rule 902(k) promulgated under the Securities Act.

 

“Voting
Stock” of any specified Person as of any date means the Capital Stock of such Person that is at that time entitled to
vote in the election of the Board of Directors (or comparable governing body) of such Person, measured by voting power rather
than number of shares. For the avoidance of doubt, the sole managing member of a sole-member-managed limited liability company
owns 100% of the Voting Stock of such limited liability company and the sole general partner of a limited partnership owns 100%
of the Voting Stock of the limited partnership.

 

“Wholly
Owned Subsidiary” means, with respect to any specified Person, a direct or indirect Subsidiary of such Person, 100%
of the outstanding Capital Stock or other ownership interests of which (other than directors’ qualifying shares) is at the
time owned by such Person or by one or more Wholly Owned Subsidiaries of such Person.

 

Section 1.02.     
Other Definitions. For purposes of the Notes, the following terms will have the meanings set forth in the Sections
noted below. For purposes of any Additional Securities issued under this Indenture, the Supplemental Indenture in respect of such
Additional Securities will specify the defined terms to be used therein, which may include some, all or none of the terms contained
in this ‎Section 1.02.

 

	Term
	 	Defined
in Section 

	“Authentication Order”	 	‎2.02

 

    16

    

    

 

	Term
	 	Defined
in Section 

	“Automatic Exchange”	 	‎2.06(b)(v)
	“Automatic Exchange Date”	 	‎2.06(b)(v)
	“Automatic Exchange Notice”	 	‎2.06(b)(v)
	“Automatic Exchange Notice Date”	 	‎2.06(b)(v)
	“Change of Control Offer”	 	‎4.08
	“Change of Control Payment”	 	‎4.08
	“Change of Control Payment Date”	 	‎4.08
	“Covenant Defeasance”	 	‎8.03
	“DTC”	 	‎2.03
	“Event of Default”	 	‎6.01
	“Legal Defeasance”	 	‎8.02
	“Paying Agent”	 	‎2.03
	“Payment Default”	 	‎6.01
	“Registrar”	 	‎2.03
	“Relevant Law”	 	‎12.14

 

Section 1.03.     
Incorporation by Reference of Trust Indenture Act. No provisions of the TIA are incorporated by reference in or
made a part of this Indenture unless explicitly incorporated by reference. Unless specifically provided in this Indenture, no
terms that are defined under the TIA have such meanings for the purposes of this Indenture. Whenever this Indenture refers to
a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.

 

Section 1.04.     
Rules of Construction. Unless the context otherwise requires:

 

(i)           
a term has the meaning assigned to it;

 

(ii)           
an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

 

(iii)           
“or” is not exclusive;

 

(iv)           
“including” is not limiting;

 

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

 

(vi)           
 “will” shall be interpreted to express a command;

 

(vii)           
provisions apply to successive events and transactions; and

 

(viii)           
references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of successor
sections or rules adopted by the SEC from time to time.

 

    17

    

    

 

The terms
and provisions contained in this Indenture will apply to any Additional Securities issued from time to time pursuant to this Indenture,
except as may be otherwise provided in the Supplemental Indenture with respect to such Additional Securities. Any notices required
to be provided to Holders of Securities under this Indenture shall be deemed given upon mailing by U.S. first class mail.

 

Article
2

The Issuance of Notes and Additional Securities

 

Section
2.01.      Form and Dating of
Notes; Creation of Additional Securities. (a) Securities to Be Issued in Series. The aggregate amount of
Securities that may be authenticated and delivered under this Indenture is unlimited, subject to compliance with ‎Section
2.07. The Securities may be issued in one or more Series. All Additional Securities will have the terms set forth in the
Supplemental Indenture pursuant to which such Series of Additional Securities is created, which Supplemental Indenture will
detail the adoption of the terms of such Series of Additional Securities pursuant to the authority granted under a Board
Resolution. In the case of Securities of a Series to be issued from time to time, the Supplemental Indenture creating such
Series will detail the adoption of the terms thereof pursuant to the authority granted under a Board Resolution and
will provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which
interest shall accrue) are to be determined. Securities may differ between Series in respect of any matters; provided
that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture.

 

At or prior
to the issuance of any Series of Additional Securities, the following terms shall be established in the Supplemental Indenture
in respect of such Series created pursuant to authority granted under a Board Resolution and executed and delivered by the Company
and the Trustee (and, if applicable, any guarantors of such Additional Securities):

 

(i)           
the title of the Series (which shall distinguish the Securities of that particular Series from the Securities of any other
Series);

 

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

 

(iii)           
any limit upon the aggregate principal amount of the Securities of the Series which may be authenticated and delivered
under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for,
or in lieu of, other Securities of the Series pursuant to this ‎Article 2);

 

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

 

(v)           
the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate
or rates (including, but not

 

    18

    

    

 

limited to, any commodity, commodity index, stock exchange index or financial index) at which the
Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date
or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on
any interest payment date;

 

(vi)           
the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where
the Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or
upon the Company in respect of the Securities of such Series and this Indenture may be served, and the method of such payment,
if by wire transfer, mail or other means;

 

(vii)           
if applicable, the period or periods within which the price or prices at which and the terms and conditions upon which
the Securities of the Series may be redeemed, in whole or in part, at the option of the Company;

 

(viii)           
the obligation, if any, of the Company to redeem or purchase the Securities of the Series pursuant to any sinking fund
or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which
and the terms and conditions upon which Securities of the Series shall be redeemed or purchased, in whole or in part, pursuant
to such obligation;

 

(ix)           
the dates, if any, on which and the price or prices at which the Securities of the Series will be repurchased by the Company
at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations;

 

(x)           
if other than denominations of $2,000 and any integral multiples of $1,000 in excess thereof, the denominations in which
the Securities of the Series shall be issuable;

 

(xi)           
the forms of the Securities of the Series in bearer or fully registered form (and, if in fully registered form, whether
the Securities will be issuable as Global Securities);

 

(xii)           
if other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall
be payable upon declaration of acceleration of the maturity thereof pursuant to ‎Section 6.02;

 

(xiii)           
the currency of denomination of the Securities of the Series, which may be U.S. dollars or any other currency, including,
but not limited to, the ECU, and if such currency of denomination is a composite currency other than the ECU, the agency or organization,
if any, responsible for overseeing such composite currency;

 

    19

    

    

 

(xiv)           
the designation of the currency, currencies or currency units in which payment of the principal of and interest, if any,
on the Securities of the Series will be made;

 

(xv)           
if payments of principal of or interest, if any, on the Securities of the Series are to be made in one or more currencies
or currency units other than that or those in which such Securities are denominated, the manner in which the exchange rate with
respect to such payments will be determined;

 

(xvi)           
the manner in which the amounts of payment of principal of or interest, if any, on the Securities of the Series will be
determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a
commodity, commodity index, stock exchange index or financial index;

 

(xvii)           
the provisions, if any, relating to any security or guarantee provided for the Securities of the Series, and any subordination
in right of payment, if any, of the Securities of the Series;

 

(xviii)           
any addition to or change in or deletion of any of the covenants set forth in Articles ‎4 or 5 which
applies to Securities of the Series;

 

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

 

(xx)           
any addition to or change in or deletion of any of the provisions and terms set forth in Articles ‎7
and ‎9 which applies to Securities of the Series;

 

(xxi)           
any other terms of the Securities of the Series (which may modify or delete any provision of this Indenture insofar as
it applies to such Series and/or add additional provisions); and

 

(xxii)           
any depositories, interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities
of such Series if other than those appointed herein.

 

All Securities
of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture,
if so provided by or pursuant to the Supplemental Indenture pursuant to which such Series is created, and the authorized principal
amount of any Series may be increased to provide for issuances of additional Securities of such Series, unless otherwise provided
in such Supplemental Indenture.

 

(b)            
The Notes. The Notes shall be issued in registered global form, except as otherwise provided in ‎Section
2.06, without interest coupons. The Notes and the Trustee’s certificate of authentication shall be substantially in the
form of Exhibit A

 

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hereto
and shall include the Private Placement Legend unless it is removed as contemplated by ‎Section 2.06. The Notes may
have notations, legends or endorsements required by law, stock exchange rule or usage. The Company shall furnish any such notations,
legends or endorsements to the Trustee in writing. Each Note shall be dated the date of its authentication. The Notes shall be
in minimum denominations of $2,000 and integral multiples of $1,000 in excess of $2,000.

 

The terms
and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of the Indenture and the Company,
the Guarantor and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions
and to be bound thereby. However, to the extent any provision of the Note conflicts with the express provisions of this Indenture,
the provisions of this Indenture shall govern and be controlling.

 

(c)            
Global Securities. Notes issued in global form shall be substantially in the form of Exhibit A attached hereto
(including the Global Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto.
All other Global Securities will be in the form specified in the Supplemental Indenture pursuant to which such Series of Securities
is created). Notes issued in definitive form shall be substantially in the form of Exhibit A attached hereto (but without
the Global Legend thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto).
All other Global Securities will be in the form specified in the Supplemental Indenture pursuant to which such Series of Securities
is created. Each Global Security shall represent such of the outstanding Securities as will be specified therein and each shall
provide that it represents the aggregate principal amount of outstanding Securities from time to time as reflected in the records
of the Trustee and that the aggregate principal amount of outstanding Securities represented thereby may from time to time be
reduced or increased, as appropriate, on the “Schedule of Exchanges of Interests in the Global Note” attached to such
Global Note to reflect exchanges and redemptions. The Trustee’s records and the “Schedule of Exchanges of Interests
in the Global Note” attached to such Global Note shall be noted to reflect the amount of any increase or decrease in the
aggregate principal amount of outstanding Securities represented thereby, in accordance with instructions given by the Holder
thereof as required by ‎Section 2.06.

 

(d)            
Rule 144A Notes. Notes offered and sold in reliance on Rule 144A shall be issued in the form of a 144A Global Note,
which shall be deposited on behalf of the purchasers of the Notes represented thereby with the Custodian and registered in the
name of the Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as hereinafter
provided.

 

The aggregate
principal amount of a 144A Global Note may from time to time be increased or decreased by adjustments made on the records of the
Trustee and the Depositary or its nominee, as the case may be, in connection with transfers of interest as hereinafter provided.

 

(e)            
Regulation S Notes. Notes offered and sold in reliance on Regulation S shall be issued in the form of a Regulation
S Global Note, which shall be deposited on

 

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behalf of the purchasers of the Notes represented thereby with the Custodian and registered
in the name of the Depositary or a nominee of the Depositary for the accounts of designated agents holding on behalf of Euroclear
or Clearstream, duly executed by the Company and authenticated by the Trustee as hereinafter provided.

 

The aggregate
principal amount of a Regulation S Global Note may from time to time be increased or decreased by adjustments made on the records
of the Trustee and DTC or its nominee, as the case may be, in connection with transfers of interest as hereinafter provided.

 

(f)            
Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear
System” and “Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of
Clearstream Banking” and “Customer Handbook” of Clearstream will be applicable to transfers of beneficial interests
in the Regulation S Global Security that are held by Participants through Euroclear or Clearstream.

 

Section 2.02.     
Execution and Authentication. One Officer must sign the Securities for the Company by manual or facsimile signature.

 

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

 

A Security
will not be valid until authenticated by the manual signature of the Trustee. The signature will be conclusive evidence that the
Security has been authenticated under this Indenture.

 

The Trustee
shall, upon receipt of a written order of the Company signed by at least one Officer (an “Authentication Order”),
authenticate Securities for original issue under this Indenture. The aggregate principal amount of Securities outstanding at any
time may not exceed the aggregate principal amount of Securities authorized for issuance by the Company pursuant to one or more
Authentication Orders, except as provided in ‎Section 2.08.

 

The Trustee
may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate
Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication
by such agent. An authenticating agent has the same rights as an Agent to deal with Holders, the Company or an Affiliate of the
Company.

 

Section 2.03.     
Registrar and Paying Agent. The Company will maintain an office or agency with respect to each Series of Securities
issued pursuant to this Indenture, where such securities may be presented for registration of transfer or for exchange (“Registrar”)
and an office or agency (which, in the case of the Notes, will be in the City and State of New York) where such Securities may
be presented for payment (“Paying Agent”). The Registrar will keep a register of all such Securities and of
their transfer and exchange. The Company may appoint one or more co-registrars and one or more

 

    22

    

    

 

additional paying agents. The term
“Registrar” includes any co-registrar and the term “Paying Agent” includes any additional paying agent.
The Company may change any Paying Agent or Registrar without notice to any Holder. The Company will notify the Trustee in writing
of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain another entity
as Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or
Registrar.

 

The Company
initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Global Securities.
The Company has entered into a blanket letter of representations with DTC in the form provided by DTC and the Trustee and each
Agent are hereby authorized to act in accordance with such letter and Applicable Procedures.

 

The Company
initially appoints the Trustee to act as the Registrar and Paying Agent and to act as Custodian with respect to the Global Securities.

 

Section 2.04.     
Paying Agent to Hold Money in Trust. 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 Holders of the Securities for which it is acting as Paying
Agent 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 notify the Trustee of any default by the Company in making any such payment. While any such default continues,
the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying
Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent (if other than the Company
or a Subsidiary) will have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent, it will segregate
and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or
reorganization proceedings relating to the Company, the Trustee will serve as Paying Agent for the Securities.

 

Section 2.05.     
Holder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list
available to it of the names and addresses of all Holders and shall otherwise comply with TIA §312(a). If the Trustee is
not the Registrar, the Company shall furnish to the Trustee at least seven Business Days before each interest payment date and
at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably
require of the names and addresses of the Holders and the Company shall otherwise comply with TIA §312(a).

 

Section 2.06.     
Transfer and Exchange. (a) Transfer and Exchange of Global Securities. A Global Security may not be transferred
except as a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another
nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary.
All Global Securities shall be exchanged by the Company for Definitive Securities if:

 

    23

    

    

 

(i)           
the Company delivers to the Trustee notice from the Depositary that it is unwilling or unable to continue to act as Depositary
or that it is no longer a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not
appointed by the Company within 90 days after the date of such notice from the Depositary;

 

(ii)           
the Company in its sole discretion determines that the Global Securities (in whole but not in part) should be exchanged
for Definitive Securities and any Participant requests a Definitive Security in accordance with DTC procedures (provided
that Regulation S Global Securities may not be exchanged for Definitive Securities pursuant to this clause ‎(ii)
prior to the expiration of the applicable Restricted Period and the receipt of any certificates required under the provisions
of Regulation S); or

 

(iii)           
there has occurred and is continuing a Default or Event of Default with respect to the Notes and DTC requests the issuance
of Definitive Securities.

 

Upon the
occurrence of any of the preceding events in ‎(i), ‎(ii)
or ‎(iii) above, Definitive Securities shall be issued in
such names and in any approved denominations as the Depositary shall instruct the Trustee. Global Securities also may be exchanged
or replaced, in whole or in part, as provided in Sections ‎2.08
and ‎2.11. Every Security authenticated and delivered in exchange
for, or in lieu of, a Global Security or any portion thereof, pursuant to this Sections ‎2.06
or ‎2.08 or ‎2.11,
shall be authenticated and delivered in the form of, and shall be, a Global Security, except for Definitive Securities issued
subsequent to any of the events described in clauses ‎(i),
‎(ii) or ‎(iii)
above and pursuant to clause ‎(c) below. A Global Security
may not be exchanged for another Security other than as provided in this ‎Section
2.06(a); however, beneficial interests in a Global Security may be transferred and exchanged as provided in ‎Section
2.06(b), ‎(c) or ‎(f).

 

None of the
Company, the Guarantor or the Trustee will be liable for any delay by DTC, its nominee or any direct or indirect DTC participant
in identifying the Beneficial Owners of the Securities. The Company, the Guarantor and the Trustee may conclusively rely on, and
will be protected in relying on, instructions from DTC or its nominee for all purposes, including with respect to the registration
and delivery, and the respective principal amounts, of the certificated Notes to be issued.

 

(b)            
Transfer and Exchange of Beneficial Interests in the Global Securities. The transfer and exchange of beneficial
interests in the Global Securities shall be effected through the Depositary, in accordance with the provisions of this Indenture
and the Applicable Procedures. Transfers of beneficial interests in the Global Securities also will require compliance with either
subparagraph ‎(i) or ‎(ii) below, as applicable, as well as one or more of the other following subparagraphs,
as applicable:

 

(i)           
Transfer of Beneficial Interests in the Same Global Security. Beneficial interests in any Restricted Global Security
may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same

 

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Restricted Global Security
in accordance with the transfer restrictions set forth in the Private Placement Legend; provided, however, that
prior to the expiration of the Restricted Period, transfers of beneficial interests in the applicable Regulation S Global Security
may not be made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Beneficial
interests in any Unrestricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial
interest in an Unrestricted Global Security. Any person who transfers a beneficial interest in the Regulation S Global Security
prior to the expiration of the applicable Restricted Period with respect to any Series of Additional Securities shall be deemed
to have certified that such transfer was not made to a U.S. Person or for the account or benefit of a U.S. Person (other than
an Initial Purchaser). No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers
described in this ‎Section 2.06(b)(i).

 

(ii)           
All Other Transfers and Exchanges of Beneficial Interests in Global Securities. In connection with all transfers
and exchanges of beneficial interests that are not subject to ‎Section 2.06(b)(i) above, the transferor of such
beneficial interest must deliver to the Registrar the applicable certificates prescribed by the succeeding sections and subparagraphs
and either:

 

(A)           
both:

 

(1)           
a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable
Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Security in an amount
equal to the beneficial interest to be transferred or exchanged; and

 

(2)           
instructions given in accordance with the Applicable Procedures containing information regarding the Participant account
to be credited with such increase; or

 

(B)           
both:

 

(1)           
a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable
Procedures directing the Depositary to cause to be issued a Definitive Security in an amount equal to the beneficial interest
to be transferred or exchanged; and

 

(2)           
instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive
Security shall be registered to effect the transfer or exchange referred to in (1) above; provided that in no event shall
Definitive Securities be issued upon the transfer or

 

    25

    

    

 

exchange of beneficial interests in a Regulation S Global Security prior
to the expiration of the Restricted Period therefor.

 

Upon satisfaction of all of the
requirements for transfer or exchange of beneficial interests in Global Securities contained in this Indenture and the Notes or
otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Security(ies)
pursuant to ‎Section 2.06(g).

 

(iii)           
Transfer of Beneficial Interests to Another Restricted Global Security. A beneficial interest in any Restricted
Global Security may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted
Global Security if the transfer complies with the requirements of ‎Section 2.06(b)(ii) above and the Registrar
receives the following:

 

(A)           
if the transferee will take delivery in the form of a beneficial interest in the 144A Global Security, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof;

 

(B)           
if the transferee will take delivery in the form of a beneficial interest in the Regulation S Global Security, then the
transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof;
and

 

(iv)           
Transfer and Exchange of Beneficial Interests in a Restricted Global Security for Beneficial Interests in an Unrestricted
Global Security. A beneficial interest in any Restricted Global Security may be exchanged by any holder thereof for a beneficial
interest in an Unrestricted Global Security or transferred to a Person who takes delivery thereof in the form of a beneficial
interest in an Unrestricted Global Security if the exchange or transfer complies with the requirements of ‎Section
2.06(b)(ii) above and:

 

(A)           
such transfer or exchange is pursuant to an effective Registration Statement under the Securities Act; or

 

(B)           
the Registrar receives the following:

 

(1)           
if the holder of such beneficial interest in a Restricted Global Security proposes to exchange such beneficial interest
for a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form of Exhibit C hereto,
including the certifications in item (1)(a) thereof; or

 

(2)           
if the holder of such beneficial interest in a Restricted Global Security proposes to transfer such beneficial interest
to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a

 

    26

    

    

 

certificate
from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof;

 

and, in each such case
set forth in this subparagraph ‎(B), if the Registrar so requests
or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect
that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein
and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act.

 

If
any such exchange or transfer is effected pursuant to subparagraph ‎(A)
or ‎(B) above at a time when an Unrestricted Global Security
has not yet been issued, the Company shall issue and, upon receipt of an Authentication Order in accordance with ‎Section
2.02, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the
aggregate principal amount of beneficial interests transferred pursuant to subparagraph ‎(B)
or ‎(B) above.

 

Beneficial
interests in an Unrestricted Global Security cannot be exchanged for, or transferred to Persons who take delivery thereof in the
form of, a beneficial interest in a Restricted Global Security.

 

(v)           
Automatic Exchange of Beneficial Interests in Restricted Global Securities for Beneficial Interests in Unrestricted
Global Securities. Upon the Company’s satisfaction that the Private Placement Legend shall no longer be required in
order to maintain compliance with the Securities Act with respect to a particular Restricted Global Security, the Company may,
but shall not be obligated to, cause the beneficial interests in such Restricted Global Security to be automatically exchanged
into beneficial interests in one or more Unrestricted Global Securities, in accordance with this ‎Section 2.06(b)(v),
without any action required by or on behalf of the Holder (the “Automatic Exchange”) at any time on or after
the date that is the 366th calendar day after (A) with respect to the Security issued on the Issue Date, the Issue Date or (B)
with respect to Additional Security, if any, the issue date of such Additional Security, or, in each case, if such day is not
a Business Day, on the next succeeding Business Day (the “Automatic Exchange Date”). Upon the Company’s
satisfaction that the Private Placement Legend shall no longer be required in order to maintain compliance with the Securities
Act with respect to a particular Restricted Global Security, the Company may, but shall not be obligated to, (1) provide written
notice to the Trustee at least 15 calendar days prior to the Automatic Exchange, instructing the Trustee to direct the Depositary
to exchange all of the outstanding beneficial interests in such Restricted Global Security to one or more Unrestricted Global
Securities, which shall have previously been made eligible for the Depository’s book-entry delivery and depository services,
(2) provide prior written notice (the “Automatic Exchange Notice”) to each Holder of such Restricted Global
Security at such Holder’s address appearing in the register of Holders at least 10

 

    27

    

    

 

calendar days prior to the Automatic
Exchange (the “Automatic Exchange Notice Date”), which notice must include (w) the Automatic Exchange Date,
(x) the section of the Indenture pursuant to which the Automatic Exchange shall occur, (y) the CUSIP number of the Restricted
Global Security from which such Holder’s beneficial interests will be transferred and the (z) CUSIP number of the Unrestricted
Global Security into which such Holder’s beneficial interests will be transferred, and (3) on or prior to the date of the
Automatic Exchange, deliver to the Trustee for authentication one or more Unrestricted Global Securities, duly executed by the
Company, in an aggregate principal amount equal to the aggregate principal amount of Restricted Global Securities to be exchanged
in the Automatic Exchange. At the Company’s request on no less than 5 calendar days’ notice, the Trustee shall deliver,
in the Company’s name and at its expense, the Automatic Exchange Notice to each Holder of the Restricted Global Security
that is subject to the applicable Automatic Exchange at such Holder’s address appearing in the register of Holders. Notwithstanding
anything to the contrary in this ‎Section 2.06, during the period between the Automatic Exchange Notice Date
and the Automatic Exchange Date, no transfers or exchanges other than pursuant to this ‎Section 2.06(b)(v) shall
be permitted without the prior written consent of the Company. As a condition to any Automatic Exchange, the Company shall provide,
and the Trustee shall be entitled to rely upon, an Officer’s Certificate reasonably acceptable to the Trustee to the effect
that the Automatic Exchange shall be effected in compliance with the Securities Act and that the restrictions on transfer contained
herein and in the Private Placement Legend shall no longer be required in order to maintain compliance with the Securities Act
with respect to the Restricted Global Security to which such Automatic Exchange relates, and that the aggregate principal amount
of the particular Restricted Global Security may be transferred to the particular Unrestricted Global Security by adjustment made
on the records of the Trustee to reflect the Automatic Exchange. Upon such exchange of beneficial interests pursuant to this ‎Section
2.06(b)(v), the aggregate principal amount of the Global Security shall be increased or decreased by adjustments made on the records
of the Trustee, to reflect the relevant increase or decrease in the principal amount of such Global Security resulting from the
applicable exchange. The Restricted Global Security from which beneficial interests are transferred pursuant to an Automatic Exchange
shall be canceled following the Automatic Exchange.

 

(c)            
Transfer or Exchange of Beneficial Interests in Global Securities for Definitive Securities. Transfers or exchanges
of beneficial interests in Global Securities for Definitive Securities shall in each case be subject to the satisfaction of any
applicable conditions set forth in ‎Section 2.06(b)(ii), and to the requirements set forth below in this ‎Section
2.06(b)(v).

 

(i)           
Beneficial Interests in Restricted Global Securities to Restricted Definitive Securities. If any holder of a beneficial
interest in a Restricted Global Security proposes to exchange such beneficial interest for a Restricted Definitive Security or
to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted Definitive Security, then,
upon the occurrence

 

    28

    

    

 

of any of the events described in clause ‎(i), ‎(ii) or ‎(iii)
of ‎Section 2.06(a) and receipt by the Registrar of the following documentation:

 

(A)           
if the holder of such beneficial interest in a Restricted Global Security proposes to exchange such beneficial interest
for a Restricted Definitive Security, a certificate from such holder in the form of Exhibit C hereto, including the certifications
in item (2)(a) thereof;

 

(B)           
if such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item (1) thereof;

 

(C)           
if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule
903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof;

 

(D)           
if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the Securities
Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications
in item (3)(a) thereof;

 

(E)           
if such beneficial interest is being transferred to the Company or any of its Subsidiaries, a certificate to the effect
set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or

 

(F)           
if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act,
a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof,

 

the Trustee shall cause
the aggregate principal amount of the applicable Global Security to be reduced accordingly pursuant to ‎Section
2.06(g), and the Company shall execute and, upon receipt of an Authentication Order, the Trustee shall authenticate and deliver
to the Person designated in the instructions a Definitive Security in the appropriate principal amount. Any Definitive Security
issued in exchange for a beneficial interest in a Restricted Global Security pursuant to this ‎Section
2.06(b)(v) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such
beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant.
The Trustee shall deliver such Definitive Securities to the Persons in whose names such Securities are so registered. Any Definitive
Security issued in exchange for a beneficial interest in a Restricted Global Security pursuant to this ‎Section
2.06(c)(i) (except transfers pursuant to clause ‎(F) above)
shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein.

 

    29

    

    

 

(ii)           
Beneficial Interests in Regulation S Global Securities to Definitive Securities. Notwithstanding ‎Section
2.06(c)(i)(A) and ‎Section 2.06(c)(i)(C), a beneficial interest in the Regulation S Global Security may not
be exchanged for a Definitive Security or transferred to a Person who takes delivery thereof in the form of a Definitive Security
prior to the expiration of the applicable Restricted Period therefor, except in the case of a transfer pursuant to an exemption
from the registration requirements of the Securities Act other than Rule 903 or Rule 904.

 

(iii)           
Beneficial Interests in Restricted Global Securities to Unrestricted Definitive Securities. A holder of a beneficial
interest in a Restricted Global Security may exchange such beneficial interest for an Unrestricted Definitive Security or may
transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security only
if:

 

(A)           
such exchange or transfer is effected pursuant to an effective registration statement under the Securities Act; or

 

(B)           
the Registrar receives the following:

 

(1)           
if the holder of such beneficial interest in a Restricted Global Security proposes to exchange such beneficial interest
for an Unrestricted Definitive Security, a certificate from such holder in the form of Exhibit C hereto, including the
certifications in item (1)(b) thereof; or

 

(2)           
if the holder of such beneficial interest in a Restricted Global Security proposes to transfer such beneficial interest
to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Security, a certificate from such holder
in the form of Exhibit B hereto, including the certifications in item (4) thereof;

 

and, in each such case
set forth in this subparagraph ‎(B), if the Registrar so requests
or if the Applicable Procedures so require, such holder delivers to the Company an Opinion of Counsel in form reasonably acceptable
to the Company to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions
on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the
Securities Act.

 

(iv)           
Beneficial Interests in Unrestricted Global Securities to Unrestricted Definitive Securities. If any holder of a
beneficial interest in an Unrestricted Global Security proposes to exchange such beneficial interest for a Definitive Security
or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Security, then, upon
the occurrence of any of the events described in clause ‎(i), ‎(ii) or ‎(iii)
of ‎Section 2.06(a) satisfaction of the conditions set forth in ‎Section 2.06(b)(ii), the
Trustee shall cause the

 

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aggregate principal amount of the applicable Unrestricted Global Security to be reduced accordingly pursuant
to ‎Section 2.06(g), and the Company shall execute and, upon receipt of an Authentication Order, the Trustee
shall authenticate and deliver to the Person designated in the instructions a Definitive Security in the appropriate principal
amount. Any Definitive Security issued in exchange for a beneficial interest pursuant to this ‎Section 2.06(c)(iv)
shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial
interest requests through instructions to the Registrar from or through the Depositary and the Participant or Indirect Participant.
The Trustee shall deliver such Definitive Securities to the Persons in whose names such Securities are so registered. Any Definitive
Security issued in exchange for a beneficial interest pursuant to this ‎Section 2.06(c)(iv) will not bear the
Private Placement Legend.

 

(d)            
Transfer and Exchange of Definitive Securities for Beneficial Interests.

 

(i)           
Restricted Definitive Securities to Beneficial Interests in Restricted Global Securities. If any Holder of a Restricted
Definitive Security proposes to exchange such Security for a beneficial interest in a Restricted Global Security or to transfer
such Restricted Definitive Securities to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted
Global Security, then, upon receipt by the Registrar of the following documentation:

 

(A)           
if the Holder of such Restricted Definitive Security proposes to exchange such Security for a beneficial interest in a
Restricted Global Security, a certificate from such Holder in the form of Exhibit C hereto, including the certifications
in item (2)(b) thereof;

 

(B)           
if such Restricted Definitive Security is being transferred to a QIB in accordance with Rule 144A, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (1) thereof;

 

(C)           
if such Restricted Definitive Security is being transferred to a Non-U.S. Person in an offshore transaction in accordance
with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item
(2) thereof;

 

(D)           
if such Restricted Definitive Security is being transferred pursuant to an exemption from the registration requirements
of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (3)(a) thereof;

 

(E)           
if such Restricted Definitive Security is being transferred to the Company or any of its Subsidiaries, a certificate to
the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or

 

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(F)           
if such Restricted Definitive Security is being transferred pursuant to an effective registration statement under the Securities
Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof,

 

the Trustee will cancel the Restricted
Definitive Security, increase or cause to be increased the aggregate principal amount of the applicable Restricted Global Security.

 

(ii)           
Restricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities. A Holder of a Restricted
Definitive Security may exchange such Security for a beneficial interest in an Unrestricted Global Security or transfer such Restricted
Definitive Security to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security
only if:

 

(A)           
such exchange or transfer is effected pursuant to an effective registration statement under the Securities Act; or

 

(B)           
the Registrar receives the following:

 

(1)           
if the Holder of such Restricted Definitive Securities proposes to exchange such Securities for a beneficial interest in
the Unrestricted Global Security, a certificate from such Holder in the form of Exhibit C hereto, including the certifications
in item (1)(c) thereof; or

 

(2)           
if the Holder of such Restricted Definitive Securities proposes to transfer such Securities to a Person who shall take
delivery thereof in the form of a beneficial interest in the Unrestricted Global Security, a certificate from such Holder in the
form of Exhibit B hereto, including the certifications in item (4) thereof;

 

and, in each such case
set forth in this subparagraph ‎(B), if the Registrar so requests
or if the Applicable Procedures so require, such Holder delivers to the Company an Opinion of Counsel in form reasonably acceptable
to the Company to the effect that such transfer is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities
Act.

 

Upon
satisfaction of the conditions of any of the subparagraphs in this ‎Section
2.06(d)(ii), the Trustee will cancel the Restricted Definitive Securities and increase or cause to be increased the aggregate
principal amount of the Unrestricted Global Security.

 

(iii)           
Unrestricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities. A Holder of an Unrestricted
Definitive Security may exchange such Security for a beneficial interest in an Unrestricted Global

 

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Security or transfer such Definitive
Securities to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security at any
time. Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Unrestricted Definitive
Security and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Securities.

 

If any such
exchange or transfer from a Definitive Security to a beneficial interest is effected pursuant to subparagraphs ‎(ii)
or ‎(iii) above at a time when an Unrestricted Global Security
has not yet been issued, the Company will issue and, upon receipt of an Authentication Order in accordance with ‎Section
2.02, the Trustee will authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the principal
amount of Definitive Securities so transferred.

 

(e)            
Transfer and Exchange of Definitive Securities for Definitive Securities. Upon request by a Holder of Definitive
Securities and such Holder’s compliance with the provisions of this ‎Section 2.06(e), the Registrar shall register
the transfer or exchange of Definitive Securities. Prior to such registration of transfer or exchange, the requesting Holder must
present or surrender to the Registrar the Definitive Securities duly endorsed or accompanied by a written instruction of transfer
in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition,
the requesting Holder must provide any additional certifications, documents and information, as applicable, required pursuant
to the following provisions of this ‎Section 2.06(e).

 

(i)           
Restricted Definitive Securities to Restricted Definitive Securities. Any Restricted Definitive Security may be
transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Security
if the Registrar receives the following:

 

(A)           
if the transfer will be made to a QIB in accordance with Rule 144A, then the transferor must deliver a certificate in the
form of Exhibit B hereto, including the certifications in item (1) thereof;

 

(B)           
if the transfer will be made pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the form
of Exhibit B hereto, including the certifications in item (2) thereof; and

 

(C)           
if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act,
then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates
and Opinion of Counsel required by item (3) thereof, if applicable.

 

(ii)           
Restricted Definitive Securities to Unrestricted Definitive Securities. Any Restricted Definitive Security may be
exchanged by the Holder thereof for an Unrestricted Definitive Security or transferred to a Person or

 

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 Persons who take delivery
thereof in the form of an Unrestricted Definitive Security if:

 

(A)           
any such exchange or transfer is effected pursuant to an effective registration statement under the Securities Act; or

 

(B)           
the Registrar receives the following:

 

(1)           
if the Holder of such Restricted Definitive Securities proposes to exchange such Securities for an Unrestricted Definitive
Security, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof;
or

 

(2)           
if the Holder of such Restricted Definitive Securities proposes to transfer such Securities to a Person who shall take
delivery thereof in the form of an Unrestricted Definitive Security, a certificate from such Holder in the form of Exhibit
B hereto, including the certifications in item (4) thereof;

 

and, in each such case
set forth in this subparagraph ‎(B), if the Registrar so requests,
such Holder delivers to the Company an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such
exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
Private Placement Legend are no longer required in order to maintain compliance with the Securities Act.

 

(iii)           
Unrestricted Definitive Securities to Unrestricted Definitive Securities. A Holder of Unrestricted Definitive Securities
may transfer such Securities to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security. Upon receipt
of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Securities pursuant to the
instructions from the Holder thereof.

 

(f)            
Legends. The following legends will appear on all Global Notes and Definitive Notes issued under this Indenture
unless specifically stated otherwise in the applicable provisions of this Indenture. Additional Securities will bear the legends,
if any, provided for in the Supplemental Indenture pursuant to which such Series of Additional Securities is created.

 

(i)           
Private Placement Legend. (A) Except as permitted by subparagraph ‎(B) below, each Global Note
and each Definitive Note (and all Notes issued in exchange therefor or substitution thereof) shall bear the legend in substantially
the following form:

 

“THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED,

 

    34

    

    

 

SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL
INTEREST HEREIN, THE HOLDER (1) REPRESENTS THAT (A) IT AND ANY ACCOUNT FOR WHICH IT IS ACTING IS A “QUALIFIED INSTITUTIONAL
BUYER” (WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT) AND THAT IT EXERCISES SOLE INVESTMENT DISCRETION WITH
RESPECT TO EACH SUCH ACCOUNT, (B) IT ACQUIRED THIS NOTE OR SUCH BENEFICIAL INTEREST IN A TRANSACTION THAT DID NOT REQUIRE REGISTRATION
UNDER THE SECURITIES ACT OR (C) IT IS NOT A U.S. PERSON (WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT) AND (2)
AGREES FOR THE BENEFIT OF THE COMPANY THAT IT WILL NOT OFFER, SELL, PLEDGE OR OTHERWISE TRANSFER THIS NOTE OR ANY BENEFICIAL INTEREST
HEREIN, EXCEPT 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 OR (E) 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.

 

PRIOR TO
THE REGISTRATION OF ANY TRANSFER IN ACCORDANCE WITH (2)(E) ABOVE, 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. NO REPRESENTATION IS MADE AS TO THE
AVAILABILITY OF ANY RULE 144 EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.

 

WITH RESPECT
TO ANY SECURITY THAT IS SOLD PURSUANT TO THE ORIGINAL DISTRIBUTION IN CANADA, UNLESS PERMITTED UNDER CANADIAN SECURITIES LEGISLATION,
THE HOLDER OF THIS SECURITY MUST NOT TRADE THIS SECURITY BEFORE [INSERT DATE THAT IS FOUR MONTHS AND A DAY AFTER THE DISTRIBUTION
DATE].”

 

Except
as permitted by subparagraph ‎(B) below, each Global Note
and Definitive Note issued in a transaction exempt from registration pursuant to Regulation S shall also bear the legend in substantially
the following form:

 

“THIS
NOTE (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND

 

    35

    

    

 

MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE
ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES
ACT. BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON, NOR IS IT PURCHASING FOR THE ACCOUNT
OF A U.S. PERSON, AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES
ACT. UNTIL 40 DAYS AFTER THE LATER OF COMMENCEMENT OR COMPLETION OF THE OFFERING, AN OFFER OR SALE OF SECURITIES WITHIN THE UNITED
STATES BY A DEALER (AS DEFINED IN THE SECURITIES ACT) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IF SUCH
OFFER OR SALE IS MADE OTHERWISE THAN IN ACCORDANCE WITH RULE 144A THEREUNDER.”

 

(B)           
Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraphs ‎2.06(b)(iv), Sections
‎2.06(b)(v), ‎2.06(c)(iii), ‎2.06(c)(iv), ‎2.06(d)(ii), ‎2.06(d)(iii), 2.06(e)(ii) or ‎2.06(e)(iii) of this ‎Section 2.06 (and all Notes issued in exchange therefor or substitution thereof)
will not bear the Private Placement Legend.

 

(ii)           
Global Legend. Each Global Security will bear a legend in substantially the following form (with appropriate changes
in the last sentence if DTC is not the Depositary):

 

“THIS
GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT
OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY
MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION ‎2.06
OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION ‎2.06(a)
OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION ‎2.12
OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF PATTERN
ENERGY GROUP INC.

 

UNLESS AND
UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY
THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY
OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH

 

    36

    

    

 

SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“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 SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE
TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.”

 

(g)            
Cancellation and/or Adjustment of Global Securities. At such time as all beneficial interests in a particular Global
Security have been exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled
in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance
with ‎Section 2.12. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged
for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security
or for Definitive Securities, the principal amount of Securities represented by such Global Security will be reduced accordingly
and an endorsement will be made on the “Schedule of Exchanges of Interests in the Global Note” attached to such Global
Security and a notation will be made on the records maintained by the Trustee or by the Depositary at the direction of the Trustee
to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Security, such other Global Security will be increased accordingly
and an endorsement will be made on the “Schedule of Exchanges of Interests in the Global Note” attached to such Global
Security and a notation will be made on the records maintained by the Trustee or by the Depositary at the direction of the Trustee
to reflect such increase.

 

(h)            
General Provisions Relating to Transfers and Exchanges. (i) To permit registrations of transfers and exchanges,
the Company shall execute and the Trustee shall authenticate Global Securities and Definitive Securities upon receipt of an Authentication
Order in accordance with ‎Section 2.02 or at the Registrar’s request.

 

(ii)           
No service charge shall be made to a holder of a beneficial interest in a Global Security or to a Holder of a Definitive
Security for any registration of transfer or exchange, but the Company and the Trustee may require payment of a sum sufficient
to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or
similar governmental charge payable upon exchange or transfer pursuant to Sections ‎2.11, ‎3.06,
‎4.08 and ‎9.05).

 

    37

    

    

 

(iii)           
The Registrar shall not be required to register the transfer of or exchange of any Security selected for redemption in
whole or in part, except the unredeemed portion of any Note being redeemed in part.

 

(iv)           
All Global Securities and Definitive Securities issued upon any registration of transfer or exchange of Global Securities
or Definitive Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits
under this Indenture, as the Global Securities or Definitive Securities surrendered upon such registration of transfer or exchange.

 

(v)           
The Company shall not be required:

 

(A)           
to issue, to register the transfer of or to exchange any Securities during a period beginning at the opening of business
15 days before the day of any selection of Securities for redemption and ending at the close of business on the day of selection;

 

(B)           
to register the transfer of or to exchange any Security selected for redemption in whole or in part, except the unredeemed
portion of any Security being redeemed in part; or

 

(C)           
to register the transfer of or to exchange a Security between a record date and the next succeeding interest payment date.

 

(vi)           
Prior to due presentment for the registration of a transfer of any Security, the Trustee, any Agent and the Company may
deem and treat the Person in whose name any Security is registered as the absolute owner of such Security for the purpose of receiving
payment of principal of and interest on such Securities and for all other purposes, and none of the Trustee, any Agent or the
Company shall be affected by notice to the contrary.

 

(vii)           
The Trustee shall authenticate Global Securities and Definitive Securities in accordance with the provisions of ‎Section
2.02.

 

(viii)           
All orders, certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to
this ‎Section 2.06 to effect a registration of transfer or exchange may be submitted by facsimile or email.

 

(ix)           
The Company and the Trustee reserve 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 of any Restricted Global Security or Restricted
Definitive Security is being made in compliance with the Securities Act or the Exchange Act, or rules or regulations adopted by
the SEC from time to time thereunder, and applicable state securities laws.

 

(x)           
The Trustee shall have no 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 Security

 

    38

    

    

 

(including any transfers
between or among depositary participants or beneficial owners or holders of any Global Security) other than to require delivery
of the Form of Assignment and Transfer attached to the Security, and to examine the same to determine substantial compliance as
to form with the express requirements hereof.

 

(xi)           
None of the Trustee, the Note Registrar or the Paying Agent shall have any responsibility or obligation to any beneficial
owner of an interest in a Global Security, any agent member of the Depositary (an “Agent Member”) or other
member of, or a participant in, the Depositary or other Person with respect to the accuracy of the records of the Depositary or
any nominee or participant or member thereof, with respect to any ownership interest in the Securities or with respect to the
delivery to any Agent Member or other participant, member, beneficial owner or other Person (other than the Depositary) of any
notice or the payment of any amount or delivery of any Securities (or other security or property) under or with respect to such
Securities. All notices and communications to be given to the Holders and all payments to be made to Holders in respect of the
Securities shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary or its nominee
in the case of a Global Security). The rights of beneficial owners in any Global Security shall be exercised only through the
Depositary, subject to its applicable rules and procedures. The Trustee, Note Registrar and Paying Agent may rely and shall be
fully protected in relying upon information furnished by the Depositary with respect to its Agent Members and other members, participants
and any beneficial owners.

 

(xii)           
Neither the Trustee nor any agent shall have any responsibility or liability for any actions taken or not taken by the
Depositary.

 

Section 2.07.     
Issuance of Additional Notes. The Company shall be entitled, upon delivery to the Trustee of an Officer’s
Certificate, Opinion of Counsel and Authentication Order, to issue Additional Notes under this Indenture which shall have identical
terms as the Initial Notes issued on the Issue Date, other than with respect to the date of issuance and issue price. The Initial
Notes issued on the Issue Date and any Additional Notes issued shall be treated as a single class for all purposes under this
Indenture; provided, however, that if the Additional Notes are not fungible with the existing Notes for U.S. federal
income tax purposes, the Additional Notes will have a separate CUSIP number.

 

With respect
to any Additional Notes, the Company shall set forth in a Board Resolution and an Officer’s Certificate, a copy of each
which shall be delivered to the Trustee, the following information:

 

(a)            
the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; and

 

    39

    

    

 

(b)            
the issue price, the issue date and the CUSIP number of such Additional Notes.

 

Section 2.08.     
Replacement Securities. If any mutilated Security is surrendered to the Trustee or the Company and the Trustee receives
evidence to its satisfaction of the destruction, loss or theft of any Security, the Company will issue and the Trustee, upon receipt
of an Authentication Order, will authenticate a replacement Security if the Trustee’s requirements are met. If required
by the Trustee or the Company, an indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee
and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may
suffer if a Security is replaced. The Company and the Trustee may charge for its expenses in replacing a Security.

 

Every replacement
Security is an additional obligation of the Company and will be entitled to all of the benefits of this Indenture equally and
proportionately with all other Securities of the applicable Series duly issued hereunder.

 

Section 2.09.     
Outstanding Securities. The Securities outstanding at any time are all the Securities authenticated by the Trustee
except for those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Security
effected by the Trustee in accordance with the provisions hereof, and those described in this ‎Section 2.09 as not
outstanding. Except as set forth in ‎Section 2.10, a Security does not cease to be outstanding because the Company
or an Affiliate of the Company holds the Security; however, Securities held by the Company or a Subsidiary of the Company
shall not be deemed to be outstanding for purposes of ‎Section 3.07(a).

 

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

 

If the principal
amount of any Security is considered paid under ‎Section 4.01,
it ceases to be outstanding and interest on it ceases to accrue.

 

If the Paying
Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) holds, on a redemption date or maturity date, money
sufficient to pay Securities payable on that date, then on and after that date such Securities will be deemed to be no longer
outstanding and will cease to accrue interest.

 

Section 2.10.     
Treasury Securities. In determining whether the Holders of the required principal amount of Securities have concurred
in any direction, waiver or consent, Securities owned by the Company or the Guarantor, or by any Person directly or indirectly
controlling or controlled by or under direct or indirect common control with the Company or the Guarantor, will be considered
as though not outstanding, except that for the purposes of determining whether the Trustee will be protected in relying on any
such direction, waiver or consent, only such Securities that the Trustee has received written notice from the Company or the Guarantor,
as applicable, certifying that the relevant

 

    40

    

    

 

Securities
are owned by either the Company or the Guarantor, as applicable, will be so disregarded.

 

Section 2.11.     
Temporary Securities. Until certificates representing Securities are ready for delivery, the Company may prepare
and the Trustee, upon receipt of an Authentication Order, will authenticate temporary Securities. Temporary Securities will be
substantially in the form of certificated Securities but may have variations that the Company considers appropriate for temporary
Securities and as may be reasonably acceptable to the Trustee. Without unreasonable delay, the Company will prepare and the Trustee
will authenticate definitive Securities in exchange for temporary Securities.

 

Holders of
temporary Securities will be entitled to all of the benefits of this Indenture.

 

Section 2.12.     
Cancellation. The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and
Paying Agent will forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment.
Upon receipt of written direction from the Company, the Trustee and no one else will cancel all Securities surrendered for registration
of transfer, exchange, payment, replacement or cancellation and will destroy canceled Securities (subject to the record retention
requirements of the Exchange Act). The Trustee shall dispose of canceled Securities in accordance with its then customary procedures
and, after such disposition, shall deliver a certificate of such disposition to the Company upon the Company’s written request.
The Company may not issue new Securities to replace Securities that it has paid or that have been delivered to the Trustee for
cancellation.

 

Section 2.13.     
CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use),
and, if so, the Trustee shall use “CUSIP” numbers in all notices issued to Holders as a convenience to such Holders;
provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed
on the Securities or on such notice and that reliance may be placed only on the other identification numbers printed on the Securities.
The Company shall promptly notify the Trustee in writing of any change in the “CUSIP” numbers.

 

Section 2.14.     
Defaulted Interest. If the Company defaults in a payment of interest on the Notes, it will pay the defaulted interest
in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on
a subsequent special record date, in each case at the rate provided in the Notes and in ‎Section 4.01. The Company
will notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed
payment. The Company will fix or cause to be fixed each such special record date and payment date. At least 10 days before the
special record date, the Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the
Company) will mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and
the amount of such interest to be paid.

 

    41

    

    

 

Default interest
will be payable with respect to Additional Securities on the terms provided in the Supplemental Indenture pursuant to which such
Series of Additional Securities is created.

 

Article
3

Redemption and Prepayment

 

For purposes
of the Notes, ‎Article 3 provides the terms upon which redemption
and prepayment may occur. For purposes of any Additional Securities issued under this Indenture, the Supplemental Indenture in
respect of such Additional Securities will specify the terms upon which redemption and prepayment may occur, which may include
some, all or none of the terms contained in this ‎Article
3.

 

Section 3.01.     
Notices to Trustee. If the Company elects to redeem Notes pursuant to the optional redemption provisions of ‎Section
3.07, it must furnish to the Trustee, at least 45 days (or such shorter period as the Trustee in its sole discretion may allow)
but not more than 60 days before a redemption date, an Officer’s Certificate setting forth:

 

(i)           
the clause of this Indenture pursuant to which the redemption shall occur;

 

(ii)           
the redemption date;

 

(iii)           
the principal amount of Notes to be redeemed;

 

(iv)           
the redemption price (or the method by which it is to be determined); and

 

(v)           
the CUSIP number.

 

Section 3.02.     
Selection of Notes to Be Redeemed or Purchased. If less than all of the Notes are to be redeemed at any time, the
Trustee shall select Notes for redemption in accordance with the current requirements of the Depositary among all outstanding
Notes or, if the Notes are listed on any national securities exchange, in compliance with the requirements of the principal national
securities exchange on which the Notes are listed, in either case, unless otherwise required by law or depositary requirements.

 

In the event
of partial redemption by lot, the particular Notes to be redeemed or purchased shall be selected, unless otherwise provided herein,
not less than 30 nor more than 60 days prior to the redemption by the Trustee from the outstanding Notes not previously called
for redemption.

 

The Trustee
shall promptly notify the Company in writing of the Notes selected for redemption and, in the case of any Note selected for partial
redemption, the principal amount thereof to be redeemed. Notes and portions of Notes selected shall be in amounts of $2,000 or
whole multiples of $1,000 in excess of $2,000; except that if all of the Notes of a Holder are to be redeemed or purchased, the
entire outstanding amount of Notes held

 

    42

    

    

 

by
such Holder, even if not a multiple of $1,000 shall be redeemed or purchased. Except as provided in the preceding sentence, provisions
of this Indenture that apply to Notes called for redemption also apply to portions of Notes called for redemption.

 

No Notes
of $2,000 or less shall be redeemed in part. Notices of redemption shall be delivered at least 30 but not more than 60 days before
the redemption date to each Holder of Notes to be redeemed at its registered address, except that redemption notices may be delivered
more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction
and discharge of this Indenture.

 

Section 3.03.     
Notice of Redemption. At least 30 days but not more than 60 days before a redemption date, the Company shall deliver
a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except that redemption notices
may be delivered more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes
or a satisfaction and discharge of this Indenture pursuant to Articles ‎8 or ‎11.

 

The notice
will identify the Notes to be redeemed and will state:

 

(i)           
the redemption date;

 

(ii)           
the redemption price (or the method by which it is to be determined);

 

(iii)           
if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after
the redemption date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion will
be issued upon cancellation of the original Note;

 

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

 

(v)           
that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

(vi)           
that, unless the Company defaults in making such redemption payment, interest on Notes called for redemption ceases to
accrue on and after the redemption date;

 

(vii)           
the paragraph of the Notes and/or Section of this Indenture pursuant to which the Notes called for redemption are
being redeemed; and

 

(viii)           
that no representation is made as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or
printed on the Notes.

 

At the Company’s
request, the Trustee shall give the notice of redemption in the Company’s name and at its expense; provided, however,
that the Company has delivered to the Trustee, at least 45 days prior to the redemption date (or such shorter period as the

 

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Trustee
in its sole discretion may allow), an Officer’s Certificate requesting that the Trustee give such notice and setting forth
the information to be stated in such notice as provided in the preceding paragraph.

 

Any redemption
and notice thereof may, in the Company’s discretion, be subject to the satisfaction of one or more conditions precedent.
If a redemption notice is subject to satisfaction of one or more conditions precedent, such notice will state that, at the Company’s
discretion, the redemption date may be delayed until such time as any or all such conditions are satisfied, or such redemption
may not occur and such notice may be rescinded in the event that any or all such conditions have not been satisfied by the redemption
date, or by the redemption date so delayed. The Company may provide in such notice that payment of the redemption price and performance
of the Company’s obligations with respect to such redemption may be performed by another person (it being understood that
any such provision for payment by another person will not relieve the Company and the Guarantor from their obligations with respect
to such redemption).

 

Section 3.04.     
Effect of Notice of Redemption. Once notice of redemption is delivered in accordance with ‎Section 3.03,
Notes called for redemption become, subject to any conditions precedent set forth in the notice of redemption, irrevocably due
and payable on the redemption date at the redemption price.

 

Section 3.05.     
Deposit of Redemption or Purchase Price. One Business Day prior to the redemption or purchase date, the Company
shall deposit with the Trustee or with the Paying Agent money sufficient to pay the redemption or purchase price of, accrued interest
and premium, if any, on all Notes to be redeemed or purchased on that date. Promptly after the Company’s written request,
the Trustee or the Paying Agent shall promptly return to the Company any money deposited with the Trustee or the Paying Agent
by the Company in excess of the amounts necessary to pay the redemption or purchase price of accrued interest and premium, if
any, on, all Notes to be redeemed or purchased.

 

If the Company
complies with the provisions of the preceding paragraph, on and after the redemption or purchase date, interest will cease to
accrue on the Notes or the portions of Notes called for redemption or purchase. If a Note is redeemed or purchased on or after
an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest shall be paid
to the Person in whose name such Note was registered at the close of business on such record date. If any Note called for redemption
or purchase is not so paid upon surrender for redemption or purchase because of the failure of the Company to comply with the
preceding paragraph, interest shall be paid on the unpaid principal, from the redemption or purchase date until such principal
is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the
Notes and in ‎Section 4.01.

 

Section 3.06.     
Notes Redeemed or Purchased in Part. Upon surrender of a Note that is redeemed or purchased in part, the Company
shall issue and, upon receipt of an Authentication Order, the Trustee shall authenticate for the Holder at the expense of the

 

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Company
a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered.

 

Section 3.07.     
Optional Redemption. (a) At any time prior to February 1, 2020, the Company may on any one or more occasions redeem
up to 35% of the aggregate principal amount of the Notes at a redemption price equal to 105.875% of the principal amount of the
Notes redeemed, plus accrued and unpaid interest, if any, to the redemption date, with an amount equal to the net cash proceeds
of one or more Equity Offerings, subject to the rights of Holders of the Notes on the relevant record date to receive interest
due on the relevant interest payment date; provided that:

 

(i)           
at least 50% of the aggregate principal amount of Notes originally issued under this Indenture (excluding Notes held by
the Company, its Subsidiaries and parent entities) remains outstanding immediately after the occurrence of such redemption (unless
all such Notes are concurrently repurchased or redeemed pursuant to another clause of this ‎Section 3.07 or
otherwise repurchased); and

 

(ii)           
the redemption occurs within 90 days of the date of the closing of such equity offering.

 

(b)            
At any time prior to February 1, 2020, the Company may on any one or more occasions redeem all or a part of the Notes at
a redemption price equal to 100% of the principal amount of the Notes redeemed, plus the Applicable Premium as of, and accrued
and unpaid interest, if any, to the applicable date of redemption, subject to the rights of Holders on the relevant record date
to receive interest due on the relevant interest payment date.

 

(c)            
Except pursuant to the preceding paragraphs (or pursuant to ‎Section 4.08(e)), the Notes will not be redeemable
at the Company’s option prior to February 1, 2020.

 

(d)            
On or after February 1, 2020, the Company may on any one or more occasions redeem all or a part of the Notes at the redemption
prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the Notes
redeemed, to the applicable date of redemption, if redeemed during the twelve-month period beginning on February 1 of the years
indicated below, subject to the rights of Holders on the relevant record date to receive interest on the relevant interest payment
date:

 

	Year
	 	Percentage 

	2020	 	102.938%
	2021	 	101.469%
	2022 and thereafter	 	100.000%

 

(e)            
Any redemption pursuant to this ‎Section 3.07 shall be made pursuant to the provisions of Sections ‎3.01
through ‎3.06.

 

    45

    

    

 

(f)            
The provisions of this ‎Article 3 do not prohibit the Company or its affiliates from acquiring the Notes in
private or open-market transactions by means other than a redemption, whether pursuant to a tender offer, negotiated purchase
or otherwise.

 

Section 3.08.     
Mandatory Redemption. The Company is not required to make mandatory redemption or sinking fund payments with respect
to the Notes.

 

Article
4

Covenants

 

For purposes
of the Notes, ‎Article 4 provides the terms of the various
covenants to which the Notes are subject. For purposes of any Additional Securities issued under this Indenture, the Supplemental
Indenture in respect of such Additional Securities will specify the terms of the covenants to which such Additional Securities
are subject, which may include some, all or none of the covenants contained in this ‎Article
4.

 

Section 4.01.     
Payment of Notes. The Company shall pay or cause to be paid the principal of, premium, if any, and interest on,
the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest will be considered paid
on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern 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.

 

The Company
shall pay interest on overdue principal at the rate specified therefor in the Notes, and it shall pay interest on overdue installments
of interest at the rate borne by the Notes to the extent lawful.

 

Section 4.02.     
Maintenance of Office or Agency. The Company will maintain an office or agency (which may be an office of the Trustee
or an affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for registration of transfer or for
exchange and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company
will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at
any time the Company fails to maintain any such required office or agency or fails to furnish the Trustee with the address thereof,
such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee.

 

The Company
may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for
any or all such purposes and may from time to time rescind such designations; provided, however, that no such
designation or rescission will in any manner relieve the Company of its obligation to maintain an office or agency for such purposes.
The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location
of any such other office or agency.

 

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The Company
hereby designates the Corporate Trust Office of the Trustee as one such office or agency of the Company in accordance with ‎Section
2.03.

 

Section 4.03.     
Reports. (a) Whether or not required by the SEC’s rules and regulations, so long as any Notes are outstanding,
the Company shall furnish or cause to be furnished to Holders, upon request, within the time periods (including any extensions
thereof) specified in the SEC’s rules and regulations:

 

(i)           
all quarterly and annual reports that would be required to be filed with the SEC on Forms 10-Q and 10-K if the Company
were required to file such reports; and

 

(ii)           
all current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to file such
reports.

 

All such
reports shall be prepared in all material respects in accordance with all of the rules and regulations applicable to such reports.
Each annual report on Form 10-K will include a report on the Company’s consolidated financial statements by the Company’s
independent registered public accounting firm. To the extent the Company files a copy of each of the reports referred to in clauses
‎(i) and ‎(ii)
above with the SEC for public availability within the time periods specified in the rules and regulations applicable to such reports
(unless the SEC will not accept such a filing), the reports shall be deemed to be furnished to the Trustee and Holders of Notes,
provided that the Trustee shall have no responsibility whatsoever to determine whether such filing has occurred.

 

If the Company
is no longer subject to the periodic reporting requirements of the Exchange Act for any reason, the Company shall nevertheless
continue filing the reports specified in this ‎Section 4.03(a)
with the SEC within the time periods specified above unless the SEC will not accept such a filing. The Company agrees that it
shall not take any action for the purpose of causing the SEC not to accept any such filings. If, notwithstanding the foregoing,
the SEC will not accept the Company’s filings for any reason, the Company shall post the reports referred to in this ‎Section
4.03(a) on its website within the time periods that would apply if the Company were required to file those reports with the SEC
and shall notify the Trustee in writing that such filing has been made on its website.

 

(b)            
In addition, the Company and the Guarantor agree that, for so long as any Notes remain outstanding, at any time they are
not required to file the reports required by the preceding paragraphs with the Commission, they shall furnish to the Holders and
to securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule
144A(d)(4) under the Securities Act.

 

(c)            
The Trustee shall have no obligation to determine if and when the Company’s or the Guarantor’s financial statements
or reports are publicly available and accessible electronically. Delivery of these reports, information and documents to the Trustee
is for informational purposes only and the Trustee’s receipt of them will not constitute constructive notice of any information
contained therein or determinable from

 

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information
contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled
to rely exclusively on Officer’s Certificates).

 

Section 4.04.     
Compliance Certificate. (a) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal
year ended after the Issue Date, a brief certificate (which need not comply with ‎Section 12.05) from the Company’s
principal executive officer, principal financial officer, principal compliance officer, principal investment officer or principal
accounting officer as to his or her knowledge of the Company’s compliance with this Indenture.

 

(b)            
So long as any of the Notes are outstanding, the Company shall deliver to the Trustee, forthwith upon any Officer becoming
aware of any Default or Event of Default, an Officer’s Certificate specifying such Default or Event of Default and what
action the Company is taking or proposes to take with respect thereto.

 

(c)            
(1) If a Default occurs for a failure to report or deliver a required certificate in connection with another default (an
“Initial Default”) then at the time such Initial Default is cured, such Default for a failure to report or
deliver a required certificate in connection with the Initial Default will also be cured without any further action and (2) any
Default or Event of Default for the failure to comply with the time periods prescribed in ‎Section 4.03 or otherwise
to deliver any notice or certificate pursuant to any other provision of this Indenture will be deemed to be cured upon the delivery
of any such report required by such covenant or notice or certificate, as applicable, even though such delivery is not within
the prescribed period specified in this Indenture.

 

Section 4.05.     
Taxes. The Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency, all material
taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where
the failure to effect such payment is not adverse in any material respect to the Holders.

 

Section 4.06.     
Stay, Extension and Usury Laws. The Company and the Guarantor covenants (to the extent that it may lawfully do so)
that they shall not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any
stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance
of the Indenture; and the Company and the Guarantor (to the extent that they may lawfully do so) hereby expressly waive all benefit
or advantage of any such law, and covenant that they shall not, by resort to any such law, hinder, delay or impede the execution
of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law
has been enacted.

 

Section 4.07.     
Liens. The Company will not, and will not permit the Guarantor to, create or permit to exist any Lien upon any Principal
Property owned by the Company or the Guarantor or upon any Equity Interests issued by, or Indebtedness of, any direct or indirect
Subsidiary of the Company to secure any Indebtedness of the Company or the

 

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Guarantor
without providing for the Notes to be equally and ratably secured with (or prior to) any and all such Indebtedness and any other
Indebtedness similarly entitled to be equally and ratably secured for so long as such Indebtedness is so secured; provided,
however, that this restriction will not apply to, or prevent the creation or existence of:

 

(i)           
Liens securing Indebtedness of the Company or the Guarantor under one or more Credit Facilities in an aggregate principal
amount pursuant to this clause ‎(i), measured as of the date of creation of any such Lien and the date of incurrence
of any such Indebtedness, not exceeding the greater of (a) 25% of Total Assets, and ‎(b) $1.0 billion;

 

(ii)           
Existing Liens;

 

(iii)           
Liens securing Indebtedness of any Person that (a) is acquired by the Company or any of its Subsidiaries after the date
hereof, ‎(b) is merged or amalgamated with or into the Company or any of its Subsidiaries after the date hereof
or ‎(c) becomes consolidated in the financial statements of the Company or any of its Subsidiaries after the
date hereof in accordance with GAAP; provided, however, that in each case contemplated by this clause ‎(iii),
such Indebtedness was not incurred in contemplation of such acquisition, merger, amalgamation or consolidation and is only secured
by Liens on the Equity Interests or assets of, the Person (and Subsidiaries of the Person) acquired by, or merged or amalgamated
with or into, or consolidated in the financial statements of, the Company or any of its Subsidiaries;

 

(iv)           
Liens securing Indebtedness of the Company or the Guarantor incurred to finance (whether prior to or within 365 days after)
the acquisition, development, construction or improvement of assets (whether through the direct purchase of assets or through
the purchase of the Equity Interests of any Person owning such assets or through an acquisition of any such Person by merger);
provided, however, that such Indebtedness is only secured by Liens on the Equity Interests and assets acquired,
constructed or improved in such financing;

 

(v)           
Liens in favor of the Company or any of its Subsidiaries;

 

(vi)           
Liens securing Hedging Obligations; provided that such agreements were not entered into for speculative purposes
(as determined by the Company in its reasonable discretion acting in good faith);

 

(vii)           
Liens relating to current or future escrow arrangements securing Indebtedness of the Company or the Guarantor;

 

(viii)           
Liens to secure Environmental CapEx Debt or Necessary CapEx Debt that encumber only the assets purchased, installed or
otherwise acquired with the proceeds of such Environmental CapEx Debt or Necessary CapEx Debt;

 

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(ix)           
Liens encumbering deposits made to secure obligations arising from statutory, regulatory, contractual or warranty requirements
of the Company or the Guarantor, including rights of offset and set-off;

 

(x)           
Refinancing Liens;

 

(xi)           
Liens on Equity Interest, assets or rights of Project Subsidiaries securing Project Debt of one or more Project Subsidiaries;

 

(xii)           
Liens on cash and cash equivalents securing Indebtedness incurred to finance an acquisition of assets or a business or
multiple businesses; provided that within 180 days from the date the related Indebtedness was incurred, such cash or cash
equivalents are used to (a) fund the acquisition (or a similar transaction), including any related fees and expenses, and the
related Indebtedness is (1) secured by Liens otherwise permitted under this ‎Section 4.07 or (2) unsecured;
or ‎(b) retire or repay the Indebtedness that it secures and to pay any related fees and expenses; and

 

(xiii)           
other Liens, in addition to those permitted in clauses ‎(i) through ‎(xii) above, securing
Indebtedness of the Company or the Guarantor having an aggregate principal amount, measured as of the date of creation of any
such Lien and the date of incurrence of any such Indebtedness, not to exceed the greater of ‎(i) 2.0% of Total
Assets and (ii) $75.0 million.

 

Liens securing
Indebtedness under the Credit Agreement existing on the date of this Indenture will be deemed to have been incurred on such date
in reliance on the exception provided by clause ‎(i) above.
For purposes of determining compliance with this ‎Section
4.07, in the event that a proposed Lien meets the criteria of more than one of the categories of Liens described in clauses ‎(i)
through ‎(xiii) above, the Company will be permitted to classify
such Lien on the date of its incurrence, or later reclassify all or a portion of such Lien, in any manner that complies with this
‎Section 4.07.

 

If the Company
or the Guarantor proposes to create or permit to exist any Lien upon any Principal Property owned by the Company or the Guarantor
or upon any Equity Interests or Indebtedness of any direct or indirect Subsidiary of the Company to secure any Indebtedness of
the Company or the Guarantor, other than as permitted by clauses ‎(i)
through ‎(xiii) of the previous paragraph, the Company will
give prior written notice thereof to the Trustee, who will give notice to the Holders of the Notes at the direction and expense
of the Company, and the Company will further agree, prior to or simultaneously with the creation of such Lien, effectively to
secure all the Notes equally and ratably with (or prior to) such other Indebtedness, for so long as such other Indebtedness is
so secured.

 

Section 4.08.     
Offer to Repurchase Upon Change of Control Triggering Event. (a) Upon the occurrence of a Change of Control Triggering
Event, the Company will make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any
part (equal to $2,000 or an integral multiple of $1,000 in excess of $2,000) of that

 

    50

    

    

 

Holder’s
Notes at a purchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid
interest, if any, on the Notes repurchased to the date of purchase, subject to the rights of Holders of Notes on the relevant
record date to receive interest due on the relevant interest payment date (the “Change of Control Payment”).
Within 30 days following any Change of Control Triggering Event, the Company will mail a notice to each Holder describing the
transaction or transactions that constitute the Change of Control and stating:

 

(i)           
that the Change of Control Offer is being made pursuant to this ‎Section 4.08 and that all Notes tendered
will be accepted for payment;

 

(ii)           
the purchase price and the purchase date, which shall be no earlier than 30 days and no later than 60 days from the date
such notice is mailed (the “Change of Control Payment Date”);

 

(iii)           
that any Note not tendered will continue to accrue interest;

 

(iv)           
that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment pursuant
to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date;

 

(v)           
that Holders electing to have any Notes purchased pursuant to a Change of Control Offer shall be required to surrender
the Notes, with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Notes completed, to the
Paying Agent at the address specified in the notice prior to the close of business on the third Business Day preceding the Change
of Control Payment Date;

 

(vi)           
that Holders will be entitled to withdraw their election if the Paying Agent receives, not later than the close of business
on the Business Day preceding the Change of Control Payment Date, facsimile transmission or letter setting forth the name of the
Holder, the principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing his election to
have the Notes purchased; and

 

(vii)           
that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased
portion of the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple
of $1,000 in excess of $2,000.

 

The Company
shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder
to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change
of Control. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this ‎Section
4.08, the Company shall comply

 

    51

    

    

 

with
the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this ‎Section
4.08 by virtue of such compliance.

 

(b)            
On the Change of Control Payment Date, the Company shall, to the extent lawful:

 

(i)           
accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer;

 

(ii)           
deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes
properly tendered; and

 

(iii)           
deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officer’s Certificate
stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company.

 

The Paying
Agent shall promptly distribute to each Holder of Notes properly tendered the Change of Control Payment for the Notes, and the
Trustee shall promptly authenticate and deliver (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; provided that each new Note shall be
in a principal amount of $2,000 or an integral multiple of $1,000 in excess of $2,000. The Company shall publicly announce the
results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date.

 

(c)            
The provisions described in Sections ‎4.08(a) and ‎(b) shall apply whether or not other provisions
of this Indenture are applicable.

 

(d)            
Notwithstanding anything to the contrary in this ‎Section 4.08, the Company shall not be required to make a
Change of Control Offer upon a Change of Control Triggering Event if (1) 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 ‎Section 4.08 and purchases
all Notes properly tendered and not withdrawn under the Change of Control Offer, or (2) an unconditional notice of redemption
has been given with respect to all outstanding Notes pursuant to ‎Section 3.07, unless and until there is a default
in payment of the applicable redemption price. A Change of Control Offer may be made in advance of a Change of Control Triggering
Event, with the obligation to pay and the timing of payment conditioned upon the occurrence of a Change of Control Triggering
Event, if a definitive agreement to effect a Change of Control is in place at the time the Change of Control Offer is made.

 

(e)            
If Holders of not less than 90% in aggregate principal amount of the outstanding Notes properly tender such Notes pursuant
to the Change of Control Offer and the Company, or any third party making a Change of Control offer in lieu of the Company as
described in ‎Section 4.08(d), purchases all of the Notes properly tendered by such Holders, the Company or such third
party will have the right, upon notice given not

 

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more
than 60 days following such purchase pursuant to the Change of Control Offer described in ‎Section 4.08(a), (and not
less than 15 days prior to the date fixed for redemption), to redeem all Notes that remain outstanding following such purchase
at a price in cash equal to 101% of the aggregate principal amount of Notes to be redeemed, plus accrued interest, if any, to
the redemption date. Any redemption pursuant to this ‎Section 4.08(e) will be made in accordance with ‎Sections
3.01 through ‎3.06, except as provided herein.

 

Section 4.09.     
Existence. Except as permitted by ‎Article 5, the Company shall, and shall cause the Guarantor to, maintain
its corporate or limited liability company existence, respectively, provided that the Company shall not be required to
maintain the existence of the Guarantor if its Board of Directors determines in good faith that the failure to so maintain the
existence of the Guarantor will not have a material adverse effect on the Holders of the Notes.

 

Article
5

Successors

 

For purposes
of the Notes, ‎Article 5 provides the terms upon which a Person
can succeed the Obligations of the Company or the Guarantor. For purposes of any Additional Securities issued under this Indenture,
the Supplemental Indenture in respect of such Additional Securities will specify the terms upon which a Person can succeed the
obligations of the Company or the Guarantor, if any, to such Additional Securities, which may include some, all or none of the
terms contained in this ‎Article 5.

 

Section 5.01.     
Merger, Consolidation or Sale of Assets. Neither the Company nor the Guarantor shall, directly or indirectly: (1)
consolidate or merge with or into another Person (whether or not the Company or the Guarantor is the surviving Person); or (2)
sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of the Company and
its Subsidiaries, taken as a whole, or the Guarantor and its Subsidiaries, taken as a whole, in one or more related transactions,
to another Person, unless:

 

(i)           
either:

 

(A)           
the Company or the Guarantor, as the case may be, is the surviving Person; or

 

(B)           
the Person formed by or surviving any such consolidation or merger (if other than the Company or the Guarantor, as the
case may be) or to which such sale, assignment, transfer, conveyance or other disposition has been made is a corporation, partnership
or limited liability company organized or existing under the laws of the United States, any state of the United States or the
District of Columbia; provided that if the Person is a partnership or limited liability company, then a corporation wholly
owned by such Person organized or existing under the laws of the United States, any state of the United States or the District
of Columbia

 

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that does not and will not have any material assets or operations shall become a co-issuer of the Notes pursuant to
a supplemental indenture duly executed by the Trustee;

 

(ii)           
the Person formed by or surviving any such consolidation or merger (if other than the Company or the Guarantor, as the
case may be) or the Person to which such sale, assignment, transfer, conveyance or other disposition has been made assumes all
the obligations of the Company or the Guarantor, as the case may be, under the Notes and this Indenture, pursuant to a supplemental
indenture or other documents and agreements reasonably satisfactory to the Trustee;

 

(iii)           
immediately after such transaction, no Default or Event of Default exists; and

 

(iv)           
the Company or the Guarantor shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel,
each stating that such consolidation, merger or transfer and such supplemental indentures, if any, comply with this Indenture.

 

In addition,
neither the Company nor the Guarantor will, directly or indirectly, lease all or substantially all of its and its respective Subsidiaries’
properties or assets taken as a whole, in one or more related transactions, to any other Person.

 

This ‎Section
5.01 shall not apply to:

 

(1)           
a merger of the Company or the Guarantor, as the case may be, with an Affiliate solely for the purpose of reforming the
Company or the Guarantor, as the case may be, in another jurisdiction or forming a direct or indirect holding company of the Guarantor
that is a Wholly Owned Subsidiary of the Company; and

 

(2)           
any sale, transfer, assignment, conveyance, lease or other disposition of assets between or among the Company and its Subsidiaries
(other than the Guarantor and its Subsidiaries) or between or among the Guarantor and its Subsidiaries, in each case including
by way of merger or consolidation.

 

Section 5.02.     
Successor Entity Substituted. Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance
or other disposition of all or substantially all of the properties or assets of the Company, the Guarantor and their respective
Subsidiaries taken as a whole in a transaction that is subject to, and that complies with the provisions of, ‎Section
5.01, the successor Person formed by such consolidation or into or with which the Company or the Guarantor, as the case may be,
is merged or to which such sale, assignment, transfer, conveyance or other disposition is made shall succeed to, and be substituted
for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, conveyance or other disposition,
the provisions of this Indenture referring to the “Company” shall refer instead to the

 

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successor
Person and not to the Company or, as the case may be, the provisions of this Indenture referring to the “Guarantor”
shall refer instead to the successor Person and not to the Guarantor), and may exercise every right and power of the Company or
the Guarantor, as the case may be, under this Indenture with the same effect as if such successor Person had been named as the
Company or the Guarantor, as the case may be, herein; provided, however, that the predecessor Company shall not
be relieved from the obligation to pay the principal of, premium, if any, and interest on, the Notes and that the predecessor
Guarantor shall not be relieved from its obligations under its Guarantee except in the case of a sale of all of the Company’s
or the Guarantor’s assets, as the case may be, in a transaction that is subject to, and that complies with the provisions
of, ‎Section 5.01.

 

Article
6

Defaults and Remedies

 

For purposes
of the Notes, ‎Article 6 provides the terms of defaults and
remedies. For purposes of any Additional Securities issued under this Indenture, the Supplement Indenture in respect of such Additional
Securities will specify the terms of defaults and remedies for such Additional Securities, which may include some, all or none
of the terms contained in this ‎Article 6.

 

Section 6.01.     
Events of Default. Each of the following is an “Event of Default”:

 

(i)           
default for 30 days in the payment when due of interest on the Notes;

 

(ii)           
default in the payment when due of the principal of, or premium, if any, on the Notes;

 

(iii)           
failure by the Company or the Guarantor for 90 days after written notice given by the Trustee or Holders of at least 25%
in aggregate principal amount of Notes then outstanding, voting as a single class, to comply with ‎Section 4.03;

 

(iv)           
failure by the Company or the Guarantor for 60 days after written notice to the Company by the Trustee or the Holders of
at least 25% in aggregate principal amount of the Notes then outstanding to comply with any of the agreements in this Indenture
(other than a default referred to in clause ‎(i), ‎(ii) and ‎(iii) of this
‎Section 6.01);

 

(v)           
default 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 the Guarantor (or the payment of which is Guaranteed by the Company
or the Guarantor), whether such Indebtedness or Guarantee now exists, or is created after the date of this Indenture, if that
default:

 

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

 

(B)           
results in the acceleration of such Indebtedness prior to its express 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 the greater of (1) 1.5% of Total Assets and
(2) $75.0 million; provided that this clause ‎(v) shall
not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property or assets securing
such Indebtedness to a Person that is not an Affiliate of the Company;

 

(vi)           
one or more judgments for the payment of money in an aggregate amount in excess of the greater of (1) 1.5% of Total Assets
and (2) $75.0 million (excluding therefrom any amount reasonably expected to be covered by insurance) shall be rendered against
the Company or the Guarantor or any combination thereof and the same shall not have been paid, discharged or stayed for a period
of 60 days after such judgment became final and non-appealable;

 

(vii)           
except as permitted by this Indenture, the Guarantee shall be held in any final and non-appealable judgment to be unenforceable
or invalid or shall cease for any reason to be in full force and effect or the Guarantor, shall deny or disaffirm its obligations
under its Guarantee;

 

(viii)           
the Company or the Guarantor pursuant to or within the meaning of any Bankruptcy Law:

 

(A)           
commences a voluntary case,

 

(B)           
consents to the entry of an order for relief against it in an involuntary case,

 

(C)           
consents to the appointment of a custodian of it or for all or substantially all of its property,

 

(D)           
makes a general assignment for the benefit of its creditors, or

 

(E)           
generally is not paying its debts as they become due; or

 

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

 

(A)           
is for relief against the Company or the Guarantor;

 

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(B)           
appoints a custodian of the Company or the Guarantor for all or substantially all of the property of the Company or the
Guarantor; or

 

(C)           
orders the liquidation of the Company or the Guarantor;

 

and the order
or decree remains unstayed and in effect for 60 consecutive days.

 

The Trustee
shall not be deemed to have notice of any Default or Event of Default unless a responsible officer of the Trustee having direct
responsibility for the administration of this Indenture and the Notes has received written notice of such Default or Event of
Default at the corporate trust office of the Trustee and such notice references the Notes and this Indenture and details the nature
of the Default.

 

Section 6.02.     
Acceleration. In the case of an Event of Default specified in clause ‎(viii) or ‎(ix) of ‎Section
6.01, with respect to the Company or the Guarantor, all outstanding Notes will become due and payable immediately without further
action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate
principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately. Upon any such declaration,
the Notes shall become due and payable immediately.

 

In the event
of a declaration of acceleration of the Notes because an Event of Default described in ‎Section
6.01(v) has occurred and is continuing, the declaration of acceleration of the Notes shall be automatically annulled if the Payment
Default or other default triggering such Event of Default pursuant to ‎Section
6.01(v) shall be remedied or cured, or waived by the Holders of the Indebtedness with respect to which a Payment Default has occurred
within 30 days after the declaration of acceleration of the Notes; provided that (1) the annulment of the acceleration
of the Notes would not conflict with any judgment or decree of a court of competent jurisdiction, (2) all existing Events of Default,
except nonpayment of principal, premium or interest on the Notes that became due solely because of the acceleration of the Notes,
have been cured or waived and (3) there has been deposited with the Trustee a sum sufficient to pay all sums paid or advanced
by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and
counsel.

 

At any time
after such a declaration of acceleration has been made and before a judgment or decree for payment of the money due has been obtained
by the Trustee as hereinafter provided, the Holders of a majority in principal amount of the Notes outstanding, by written notice
to the Company and the Trustee, may rescind and annul such declaration and its consequences if the Company has paid or deposited
with the Trustee a sum sufficient to pay installments of accrued and unpaid interest upon all Notes and the principal of any and
all Notes that shall have become due otherwise than by acceleration (with interest on overdue installments of accrued and unpaid
interest, and on such principal at the rate borne by the Notes at such time) and amounts due to the Trustee pursuant to ‎Section
7.07, and if (1) rescission would not conflict with any judgment or decree of a court of competent jurisdiction and (2) any and
all existing Events of Default

 

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under
this Indenture, other than the nonpayment of the principal of, and interest on, the Notes that shall have become due solely by
such acceleration, shall have been cured or waived.

 

Section 6.03.     
Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to
collect the payment of principal of, premium, if any, or interest on, the Notes or to enforce the performance of any provision
of the Notes or this Indenture.

 

The Trustee
may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay
or omission by the Trustee or any Holder of a Note in exercising any right or remedy accruing upon an Event of Default shall not
impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the
extent permitted by law.

 

Section 6.04.     
Waiver of Past Defaults. The Holders of a majority in aggregate principal amount of the then outstanding Notes by
written notice to the Trustee may, on behalf of the Holders of all of the Notes waive any existing Default or Event of Default
and its consequences hereunder, except a continuing Default or Event of Default in the payment of the principal of, premium, if
any, or interest on, the Notes (including in connection with an offer to purchase), if there has been deposited with the Trustee
a sum sufficient to pay all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and counsel. Upon any such waiver, such Default shall cease to exist, and any Event of
Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend
to any subsequent or other Default or impair any right consequent thereon.

 

Section 6.05.     
Control by Majority. Holders of a majority in principal amount of the Notes that are then outstanding may direct
the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee in its exercise of
any trust or power. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the
Trustee determines may be unduly prejudicial to the rights of other Holders of Securities or that may involve the Trustee in personal
liability.

 

Section 6.06.     
Limitation on Suits. Subject to ‎Section 6.07, no Holder of a Note may pursue any remedy with respect
to this Indenture or the Notes unless:

 

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

 

(ii)           
Holders of at least 25% in aggregate principal amount of the then outstanding Notes make a written request to the Trustee
to pursue the remedy;

 

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(iii)           
such Holder or Holders have offered the Trustee security or indemnity reasonably satisfactory to the Trustee against any
loss, liability or expense it may incur;

 

(iv)           
the Trustee does not comply with such request within 60 days after receipt of the request and the offer of security or
indemnity; and

 

(v)           
during such 60-day period, Holders of a majority in aggregate principal amount of the then outstanding Notes do not give
the Trustee a direction inconsistent with such request.

 

A Holder
of a Note may not use this Indenture to prejudice the rights of another Holder of a Note or to obtain a preference or priority
over another Holder of a Note.

 

Section 6.07.     
Rights of Holders of Notes to Receive Payment. Notwithstanding any other provision of this Indenture, the right
of any Holder of a Note to receive payment of principal of, premium, if any, or interest on, the Note, on or after the respective
due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of any
such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder.

 

Section 6.08.     
Collection Suit by Trustee. If an Event of Default specified in ‎Section 6.01(i) or (ii) occurs and is
continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company
for the whole amount of principal of, premium, if any, and interest on, remaining unpaid on the Notes and interest on overdue
principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel.

 

Section 6.09.     
Trustee May File Proofs of Claim. The Trustee is authorized to file such proofs of claim and other papers or documents
as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel) and the Holders of the Notes allowed in any judicial
proceedings relative to the Company (or any other obligor upon the Notes), its creditors or its property and shall be entitled
and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any
custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the
event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount
due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due to the Trustee under this Indenture, including without limitation, under ‎Section 7.07. To the extent
that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any
other amounts due to the Trustee under this Indenture, including without limitation, under ‎Section 7.07 out of the
estate in any such proceeding, shall be denied for any reason, payment of the

 

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same
shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties
that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement
or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt
on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of
any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.

 

Section 6.10.     
Priorities. If the Trustee collects any money pursuant to this ‎Article 6, it shall pay out the money
in the following order:

 

First:
to the Trustee, its agents and attorneys for amounts due under ‎Section
7.07, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the
costs and expenses of collection;

 

Second:
to Holders of Notes for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably, without preference
or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively;
and

 

Third:
to the Company or to such party as a court of competent jurisdiction shall direct.

 

The Trustee
may fix a record date and payment date for any payment to Holders of Notes pursuant to this ‎Section
6.10.

 

Section 6.11.     
Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit
against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any
party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable
costs, including reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits and
good faith of the claims or defenses made by the party litigant. This ‎Section 6.11 does not apply to a suit by the
Trustee, a suit by a Holder of a Note pursuant to ‎Section 6.07, or a suit by Holders of more than 10% in aggregate
principal amount of the then outstanding Notes.

 

Article
7

Trustee

 

Section 7.01.     
Duties of Trustee. (a) If an Event of Default with respect to any Series of Securities has occurred and is continuing,
the Trustee will exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill
in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs.

 

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

 

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(i)           
the duties of the Trustee will be determined solely by the express provisions of this Indenture and the Trustee need perform
only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall
be read into this Indenture against the Trustee; and

 

(ii)           
in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness
of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of
this Indenture. However, the Trustee will examine the certificates and opinions to determine whether or not they conform to the
requirements of this Indenture.

 

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

 

(i)           
this paragraph does not limit the effect of paragraph ‎(b) of this ‎Section 7.01;

 

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

 

(iii)           
the Trustee will not be liable with respect to any action taken, suffered or omitted to be taken in respect of the Securities
in accordance with a direction received by it pursuant to ‎Section 6.05 (or comparable provisions specified
in a Supplemental Indenture with respect to other Series of Securities).

 

(d)            
Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee
is subject to paragraphs ‎(a), ‎(b), and ‎(c) of this ‎Section 7.01.

 

(e)            
No provision of this Indenture will require the Trustee to expend or risk its own funds or incur any liability. The Trustee
will be under no obligation to exercise any of its rights or powers under this Indenture at the request of any Holders, unless
such Holder has offered to the Trustee security and indemnity satisfactory to it against any loss, liability or expense.

 

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

 

Section 7.02.     
Rights of Trustee. (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have
been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document.

 

(b)            
Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate. The Trustee will not be
liable for any action it takes or omits to take in good faith in reliance on such Officer’s Certificate. The Trustee may
consult with counsel and

 

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the
written advice of such counsel or any Opinion of Counsel will be full and complete authorization and protection from liability
in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon.

  

(c)            
The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any
agent appointed with due care. No Depositary shall be deemed to be an attorney or agent of the Trustee and the Trustee shall not
be responsible for any action or omission by any Depositary.

 

(d)            
The Trustee will not be liable for any action it takes or omits to take in good faith that it believes to be authorized
or within the rights or powers conferred upon it by this Indenture.

 

(e)            
Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company will
be sufficient if signed by an Officer of the Company.

 

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

 

(g)            
The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness
or other paper or document.

 

(h)            
The Trustee shall not be deemed to have notice of any Default or Event of Default, other than a Default or Event of Default
specified in ‎Sections 6.01(i) or ‎(ii) (or comparable provisions specified in a Supplemental Indenture
with respect to other Series of Securities) unless a Responsible Officer of the Trustee has received written notice thereof at
the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture.

 

(i)            
In no event shall the Trustee be liable for the selection of investments, if any, or for investment losses incurred thereon.
The Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any investment, if any, prior
to its stated maturity or failure to provide timely written direction.

 

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

 

(k)            
In no event shall the Trustee be liable for any failure or delay in the performance of its obligations under this Indenture
or any related documents because of circumstances beyond the Trustee’s control, including, but not limited to, a failure,

 

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termination,
or suspension of a clearing house, securities depositary, settlement system or central payment system in any applicable part of
the world or acts of God, flood, war (whether declared or undeclared), civil or military disturbances or hostilities, nuclear
or natural catastrophes, political unrest, explosion, severe weather or accident, earthquake, terrorism, fire, riot, labor disturbances,
strikes or work stoppages for any reason, embargo, government action, including any laws, ordinances, regulations or the like
(whether domestic, federal, state, county or municipal or foreign) which delay, restrict or prohibit the providing of the services
contemplated by this Indenture or any related documents, or the unavailability of communications or computer facilities, the failure
of equipment or interruption of communications or computer facilities, or the unavailability of the Federal Reserve Bank wire
or telex or other wire or communication facility, or any other causes beyond the Trustee’s control whether or not of the
same class or kind as specified above.

 

(l)            
The right of the Trustee to perform any discretionary act enumerated in this Indenture or any related document shall not
be construed as a duty.

 

(m)            
 The Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of
officers authorized at such time to take specified actions pursuant to this Indenture;

 

(n)            
The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right
to be compensated, reimbursed for expenses and indemnified, are extended to, and shall be enforceable by, the Trustee in each
of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder.

 

Section 7.03.     
Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee
of Securities and may otherwise deal with the Company or any Affiliate of the Company with the same rights it would have if it
were not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict within
90 days, apply to the SEC for permission to continue as trustee or resign. Any Agent may do the same with like rights and duties.
The Trustee is also subject to Section ‎7.10.

 

Section 7.04.     
Trustee’s Disclaimer. The Trustee will not be responsible for and makes no representation as to the validity
or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from
the Securities or any money paid to the Company or upon the Company’s direction under any provision of this Indenture, it
will not be responsible for the use or application of any money received by any Paying Agent other than the Trustee, and it will
not be responsible for any statement or recital herein or any statement in the Securities or any other document in connection
with the sale of the Notes or pursuant to this Indenture other than its certificate of authentication.

 

Section 7.05.     
Notice of Defaults. If a Default or Event of Default with respect to any Series of Securities occurs and is continuing
and if notice has been provided in

 

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accordance
with ‎Section 7.02(h) to a Responsible Officer of the Trustee, the Trustee will deliver to Holders of such Securities
a notice of the Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer has knowledge
of any Default or Event of Default. Except in the case of a Default or Event of Default in payment of principal of, premium, if
any, or interest on, any Security, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers
in good faith determines that withholding the notice is in the interests of the Holders of the Securities.

 

Section 7.06.     
[Intentionally omitted].

 

Section 7.07.     
Compensation and Indemnity. (a) The Company will pay to the Trustee from time to time reasonable compensation for
its acceptance of this Indenture and services hereunder as agreed to separately in writing with the Trustee. The Trustee’s
compensation will not be limited by any law on compensation of a trustee of an express trust. The Company will reimburse the Trustee
promptly upon request for all reasonable disbursements, advances and expenses incurred or made by it in addition to the compensation
for its services. Such expenses will include the reasonable compensation, disbursements and expenses of the Trustee’s agents
and counsel.

 

(b)            
The Company and the Guarantor will jointly and severally, indemnify the Trustee, its officers, directors, employees, representatives
and agents, against any and all losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance
or administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the
Company and the Guarantor (including this ‎Section 7.07) and defending itself against any claim (whether asserted by
the Company, the Guarantor, any Holder or any other Person) or liability in connection with the exercise or performance of any
of its powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence
or willful misconduct. The Trustee will notify the Company promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Company will not relieve the Company or the Guarantor of their obligations hereunder. The Company or
such Guarantor will defend the claim and the Trustee will cooperate in the defense. The Trustee may have separate counsel and
the Company will pay the reasonable fees and expenses of such counsel. Neither the Company nor the Guarantor need pay for any
settlement made without its consent, which consent will not be unreasonably withheld.

 

(c)            
The obligations of the Company and the Guarantor under this ‎Section 7.07 will survive the satisfaction and
discharge of this Indenture.

 

(d)            
To secure the Company’s and the Guarantor’s payment obligations in this ‎Section 7.07, the Trustee
will have a Lien prior to the Securities on all money or property held or collected by the Trustee, except that held in trust
to pay principal of, premium, if any, or interest on, particular Securities. Such Lien will survive the satisfaction and discharge
of this Indenture.

 

(e)            
When the Trustee incurs expenses or renders services after an Event of Default specified in clause ‎(viii) or
‎(ix) of ‎Section 6.01 (or comparable provisions

 

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specified
in a Supplemental Indenture with respect to other Series of Securities) occurs, the expenses and the compensation for the services
(including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy
Law.

 

(f)            
The Company’s and Guarantor’s obligations under this ‎Section 7.07 shall survive the resignation
or removal of the Trustee, any termination of this Indenture, including any termination or rejection of this Indenture in any
insolvency or similar proceeding and the repayment of all the Securities.

 

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

 

(b)            
The Trustee may resign in writing at any time and be discharged from the trust hereby created by so notifying the Company.
The Holders of a majority in aggregate principal amount of the then outstanding Securities of each Series may remove the Trustee
by so notifying the Trustee with respect to such Series and the Company in writing. The Company may remove the Trustee if:

 

(i)           
the Trustee fails to comply with ‎Section 7.10;

 

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

 

(iii)           
a custodian or public officer takes charge of the Trustee or its property; or

 

(iv)           
the Trustee becomes incapable of acting.

 

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

 

(d)            
If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee, at the expense of the Company, the Company, or the Holders of at least 10% in aggregate principal amount of the then
outstanding Securities of each affected Series may petition any court of competent jurisdiction for the appointment of a successor
Trustee.

 

(e)            
A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon,
the resignation or removal of the retiring Trustee will become effective, and the successor Trustee will have all the rights,
powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders.
The retiring Trustee will promptly transfer all property held by it as Trustee to the successor Trustee; provided all sums
owing to the

 

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Trustee
hereunder have been paid and subject to the Lien provided for in ‎Section 7.07. Notwithstanding replacement of the
Trustee pursuant to this ‎Section 7.08, the Company’s obligations under ‎Section 7.07 will continue
for the benefit of the retiring Trustee.

 

Section 7.09.     
Successor Trustee by Merger, etc. If the Trustee consolidates, merges or converts into, or transfers all or substantially
all of its corporate trust business to, another corporation, the successor corporation without any further act will be the successor
Trustee.

 

Section 7.10.     
Eligibility. There will at all times be a Trustee hereunder that is a corporation organized and doing business under
the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee
power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus
of at least $50.0 million as set forth in its most recent published annual report of condition.

 

Article
8

Legal Defeasance and Covenant Defeasance

 

For purposes
of the Notes, ‎Article 8 provides the terms upon which legal
defeasance and covenant defeasance can occur. For purposes of any Additional Securities issued under this Indenture, the Supplemental
Indenture in respect of such Additional Securities will specify the terms upon which legal defeasance and covenant defeasance
can occur for such Additional Securities, which may include some, all or none of the terms contained in this ‎Article
8.

 

Section 8.01.     
Option to Effect Legal Defeasance or Covenant Defeasance. The Company may at any time, at the option of its Board
of Directors evidenced by a resolution set forth in an Officer’s Certificate, elect to have either Sections ‎8.02
or ‎8.03 be applied to all outstanding Notes upon compliance with the conditions set forth below in this ‎Article
8.

 

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

 

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(i)           
the rights of Holders of outstanding Notes to receive payments in respect of the principal of, premium, if any, or interest
on such Notes when such payments are due from the trust referred to in ‎Section 8.04;

 

(ii)           
the Company’s obligations with respect to such Notes under ‎Article 2 and ‎Section
4.02;

 

(iii)           
the rights, powers, trusts, duties, indemnities and immunities of the Trustee hereunder and the Company’s and the
Guarantor’s obligations in connection therewith; and

 

(iv)           
this ‎Article 8.

 

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.

 

Section 8.03.     
Covenant Defeasance. Upon the Company’s exercise under ‎Section 8.01 of the option applicable to
this ‎Section 8.03, the Company and the Guarantor shall, subject to the satisfaction of the conditions set forth in
‎Section 8.04, be released from each of their obligations under Sections ‎4.03, ‎4.07 and ‎4.08
with respect to the outstanding Notes on and after the date the conditions set forth in ‎Section 8.04 are satisfied
(hereinafter, “Covenant Defeasance”), and the Notes will thereafter be deemed not “outstanding”
for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection
with such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it being understood
that such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with
respect to the outstanding Notes and Guarantee, the Company and the Guarantor 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 will not constitute a Default or an Event of Default under ‎Section
6.01, but, except as specified above, the remainder of this Indenture and such Notes and Guarantee shall be unaffected thereby.
In addition, upon the Company’s exercise under ‎Section 8.01 of the option applicable to this ‎Section
8.03, subject to the satisfaction of the conditions set forth in Sections ‎8.04, ‎6.01(iii), ‎(iv),
‎(v), ‎(vi) and ‎(vii) shall not constitute Events of Default.

 

Section 8.04.     
Conditions to Legal or Covenant Defeasance. In order to exercise either Legal Defeasance or Covenant Defeasance
under either ‎Section 8.02 or ‎8.03:

 

(i)           
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 Government Securities, or a combination thereof, in such amounts as will be sufficient, in the opinion of
a nationally recognized investment bank, appraisal firm, or firm of independent public accountants, to pay the principal of, premium,

 

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if any, and interest on, the outstanding Notes on the stated date for payment thereof or on the applicable redemption date, as
the case may be, and the Company must specify whether the Notes are being defeased to such stated date for payment or to a particular
redemption date;

 

(ii)           
in the case of an election under ‎Section 8.02, the Company must deliver to the Trustee an Opinion of
Counsel confirming that:

 

(A)           
the Company has received from, or there has been published by, the Internal Revenue Service a ruling; or

 

(B)           
since the date of this Indenture, there has been a change in the applicable federal income tax law,

 

in either case to the
effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding Notes will not recognize
income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income
tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not
occurred;

 

(iii)           
in the case of an election under ‎Section 8.03, the Company must deliver to the Trustee an Opinion of
Counsel confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes
as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and
at the same times as would have been the case if such Covenant Defeasance had not occurred;

 

(iv)           
no Default or Event of Default shall have 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 any similar concurrent deposit relating
to other Indebtedness), and the granting of Liens to secure such borrowings);

 

(v)           
such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under,
any material agreement or instrument (other than this Indenture and the agreements governing any other Indebtedness being defeased,
discharged or replaced) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries
is bound;

 

(vi)           
the Company must deliver to the Trustee an Officer’s Certificate stating that the deposit was not made by the Company
with the intent of preferring the Holders of Notes over the other creditors of the Company with the intent of defeating, hindering,
delaying or defrauding any creditors of the Company or others; and

 

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(vii)           
the Company must deliver to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all
conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with.

 

Section 8.05.     
Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions. Subject to ‎Section
8.06, all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying
trustee, collectively for purposes of this ‎Section 8.05, the “Trustee”) pursuant to ‎Section
8.04 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 acting as
Paying Agent), to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any,
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 non-callable
Government Securities deposited pursuant to ‎Section 8.04
or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the
account of the Holders of the outstanding Notes.

 

Notwithstanding
anything in this ‎Article 8 to the contrary, the Trustee shall
deliver or pay to the Company from time to time upon the request of the Company any money or non-callable Government Securities
held by it as provided in ‎Section 8.04 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(i)), 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 Company. 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, if any, or interest on, any Note and remaining unclaimed for two years after
such principal, premium, if any, or interest has become due and payable shall be paid to the Company on its written request or
(if then held by the Company) will be discharged from such trust; and the Holder of such Note will thereafter be permitted to
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, will thereupon cease; provided, however, that the Trustee or
such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once,
in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after
a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed
balance of such money then remaining shall be repaid to the Company.

 

Section 8.07.     
Reinstatement. If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government Securities
in accordance with ‎Section 8.02 

 

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or ‎8.03, 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 and the Guarantor’s obligations under this Indenture and the
Notes and the Guarantee will be revived and reinstated as though no deposit had occurred pursuant to ‎Section 8.02
or ‎8.03 until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with
Sections ‎8.02 or ‎8.03, as the case may be; provided, however, that, if the Company makes any
payment of principal of, premium, if any, 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

 

For the purposes
of the Notes, ‎Article 9 provides the terms of the Indenture with respect to amendments, supplements and waivers. For
purposes of any Additional Securities issued under this Indenture, the Supplemental Indenture in respect of such Additional Securities
will specify the terms with respect to amendments, supplements and waivers for such Additional Securities, which may include some,
all or none of the terms contained in this ‎Article 9.

 

Section 9.01.     
Without Consent of Holders of Notes. Notwithstanding ‎‎Section 9.02 of this Indenture, without the
consent of any Holder of Notes, the Company, the Guarantor and the Trustee may amend or supplement this Indenture, the Notes or
the Guarantee:

 

(i)           
to cure any ambiguity, mistake, defect or inconsistency;

 

(ii)           
to provide for uncertificated Notes in addition to or in place of certificated Notes;

 

(iii)           
to provide for the assumption of the Company’s Obligations to Holders of Notes in the case of a merger or consolidation
or sale of all or substantially all of the Company’s assets;

 

(iv)           
to make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely
affect the legal rights under this Indenture of any such Holder in any material respect;

 

(v)           
to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA;

 

(vi)           
to conform the text of this Indenture or the Notes to any provision of the “Description of the Notes” section
of the Offering Memorandum, relating to the initial offering of the Notes;

 

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(vii)           
to evidence and provide for the acceptance and appointment under this Indenture of a successor trustee pursuant to the
requirements hereof;

 

(viii)           
to provide for or confirm the issuance of Additional Notes and Additional Securities (including, with respect to Additional
Securities, changes to the events of default, covenants or other provisions of this Indenture that apply only to such Additional
Securities and not to the Notes) in accordance with this Indenture; or

 

(ix)           
to provide for the Guarantee with respect to the Notes or to effect the release of the Guarantor from any of its obligations
under the Guarantee or this Indenture to the extent permitted thereby.

 

Upon the
request of the Company accompanied by a Board Resolution and upon receipt by the Trustee of an Officer’s Certificate and
Opinion of Counsel, the Trustee shall join with the Company and the Guarantor in the execution of such amended or supplemental
indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities
under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such
amended or supplemental Indenture.

 

Section 9.02.     
With Consent of Holders of Notes. Except as provided below in this ‎‎Section 9.02, the Company and
the Trustee may amend or supplement this Indenture (including, without limitation, ‎Section 4.08), the Notes and the
Guarantee with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes (including,
without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, Notes), and, subject
to Sections ‎6.04 and ‎6.07, any existing 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, any 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 Guarantee may be
waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes (including, without
limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, Notes). ‎Section
2.09 shall determine which Notes are considered to be “outstanding” for purposes of this ‎Section 9.02.

 

Upon the
request of the Company accompanied by a Board Resolution and upon the filing with the Trustee of evidence satisfactory to the
Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of an Officer’s Certificate
and Opinion of Counsel, the Trustee shall join with the Company and the Guarantor in the execution of such amended or supplemental
indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities
under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such
amended or supplemental Indenture.

 

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It is not
necessary for the consent of the Holders of Notes under this ‎‎Section
9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it is sufficient if such consent approves
the substance thereof.

 

After an
amendment, supplement or waiver under this ‎‎Section 9.02
becomes effective, the Company shall mail to the Holders of Notes affected thereby a notice briefly describing the amendment,
supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, will not, however, in any way impair
or affect the validity of any such amended or supplemental indenture or waiver. However, without the consent of each Holder of
any Note affected, an amendment, supplement or waiver under this ‎‎Section
9.02 may not (with respect to any Notes held by a non-consenting Holder):

 

(i)           
reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver;

 

(ii)           
reduce the principal of or change the fixed maturity of any Note or alter the provisions with respect to the redemption
of the Notes (other than provisions relating to the covenants described in ‎Section 4.08 and provisions relating
to the number of days’ notice to be given in case of redemption);

 

(iii)           
reduce the rate of or change the time for payment of interest on any Note;

 

(iv)           
waive a Default or Event of Default in the payment of principal of, premium, if any, or interest on, any Note (except a
rescission of acceleration of any Notes by the Holders of at least a majority in aggregate principal amount of the then outstanding
Notes and a waiver of the payment default that resulted from such acceleration);

 

(v)           
make any Note payable in currency other than that stated in the Notes;

 

(vi)           
make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of Holders of Notes
to receive payments of principal of, premium, if any, or, interest on, the Notes;

 

(vii)           
waive a redemption payment with respect to any Note (other than a payment required by Section ‎4.08);

 

(viii)           
except as expressly permitted by this Indenture, release or modify the Guarantee of the Guarantor in any manner adverse
to the Holders of such Note; or

 

(ix)           
make any change in the preceding amendment and waiver provisions.

 

Section 9.03.     
[Intentionally Omitted].

 

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Section 9.04.     
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,
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 amendment, supplement or waiver becomes effective. An amendment, supplement or waiver
becomes effective in accordance with its terms and thereafter binds every Holder.

 

Section 9.05.     
Notation on or Exchange of Notes. The Trustee may place an appropriate notation about an amendment, supplement or
waiver on any Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee shall, upon receipt
of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver.

 

Failure to
make the appropriate notation or issue a new Note will not affect the validity and effect of such amendment, supplement or waiver.

 

Section 9.06.     
Trustee to Sign Amendments, etc. The Trustee shall sign any amended or supplemental indenture authorized pursuant
to this ‎Article 9 if the amendment or supplement does not adversely affect the rights, duties, liabilities or immunities
of the Trustee. The Company may not sign an amended or supplemental indenture until the Board of Directors of the Company approves
it. In executing any amended or supplemental indenture, the Trustee will be entitled to receive and (subject to ‎Section
7.01) will be fully protected in relying upon, in addition to the documents required by ‎Section 12.04, an Officer’s
Certificate and an Opinion of Counsel each stating that the execution of such amended or supplemental indenture is authorized
or permitted by this Indenture.

 

Article
10

Guarantees

 

For purposes
of the Notes, ‎Article 10 provides the terms of the Guarantee
of the Notes. For purposes of any Additional Securities issued under this Indenture, the Supplemental Indenture in respect of
such Additional Securities will specify the terms of guarantees for such Additional Securities, which may include some, all or
none of the terms contained in this ‎Article 10.

 

Section 10.01. 
Guarantee. (a) Subject to this ‎Article 10, the Guarantor hereby fully and unconditionally guarantees
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:

 

(i)           
the principal of, premium, if any, and interest on, the Notes shall be promptly paid in full when due, whether at maturity,
by acceleration,

 

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redemption or otherwise, and interest on the overdue principal of, premium, if any, and interest on, the Notes,
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

 

(ii)           
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 Guarantor will be obligated to
pay the same immediately. The Guarantor agrees that this is a guarantee of payment and not a guarantee of collection.

 

(b)            
The Guarantor hereby agrees that its obligations hereunder are full and 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. The 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 Guarantee will 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 Guarantor or any custodian,
trustee, liquidator or other similar official acting in relation to either the Company or the Guarantor, any amount paid by either
to the Trustee or such Holder, this Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect.

 

(d)            
The Guarantor agrees that it will 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. The Guarantor further agrees that,
as between the Guarantor, on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the obligations
guaranteed hereby may be accelerated as provided in ‎Article 6 for the purposes of this Guarantee, notwithstanding
any stay, injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (2)
in the event of any declaration of acceleration of such obligations as provided in ‎Article 6, such obligations (whether
or not due and payable) will forthwith become due and payable by the Guarantor for the purpose of this Guarantee.

 

Section 10.02. 
Limitation on Guarantor Liability. The Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that
it is the intention of all such parties that the Guarantee of the Guarantor not constitute a fraudulent transfer or

 

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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 the Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the
Guarantor hereby irrevocably agree that the obligations of the Guarantor will be limited to the maximum amount that will, after
giving effect to such maximum amount and all other contingent and fixed liabilities of the Guarantor that are relevant under such
laws, result in the obligations of the Guarantor under its Guarantee not constituting a fraudulent transfer or conveyance.

 

Section 10.03. 
Execution and Delivery of Guarantee. The execution by the Guarantor of the Indenture (or a supplemental indenture)
evidences the Guarantee of the Guarantor, whether or not the person signing as an officer of the Guarantor still holds that office
at the time of authentication of any Note.  The delivery of any Note by the Trustee after authentication constitutes due
delivery of the Guarantee set forth in this Indenture on behalf of the Guarantor.

 

Section 10.04. 
Releases. (a) The Guarantee of the Guarantor shall be released automatically:

 

(i)           
in connection with any sale or other disposition of all or substantially all of the assets of the Guarantor (including
by way of merger or consolidation) to a Person that is not (either before or after giving effect to such transaction) the Company
or a Subsidiary of the Company;

 

(ii)           
in connection with any sale or other disposition of Capital Stock of the Guarantor to a Person that is not (either before
or after giving effect to such transaction) the Company or a Subsidiary of the Company, if following such sale or other disposition,
that Guarantor is no longer a direct or indirect Subsidiary of the Company;

 

(iii)           
upon repayment in full of the Notes; or

 

(iv)           
upon Legal Defeasance or satisfaction and discharge of this Indenture pursuant to Articles ‎8 and ‎11.

 

(b)            
Upon delivery by the Company to the Trustee of an Officer’s Certificate and an Opinion of Counsel to the effect that
the action or event giving rise to the applicable release has occurred or was made by the Company in accordance with the provisions
of this Indenture the Trustee shall execute any documents reasonably required in order to evidence the release of the Guarantor
from its obligations under its Guarantee.

 

Article
11

Satisfaction and Discharge

 

For purposes
of the Notes, ‎Article 11 provides the terms upon which satisfaction
and discharge can occur. For purposes of any Additional Securities issued under this Indenture, the Supplemental Indenture in
respect of such Additional Securities will

 

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specify
the terms upon which satisfaction and discharge can occur for such Additional Securities, which may include some, all or none
of the terms contained in this ‎Article 11.

 

Section 11.01. 
Satisfaction and Discharge. This Indenture will be discharged and will cease to be of further effect as to all Notes
issued hereunder, when:

 

(a)            
either:

 

(1)           
all Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes
for whose payment money has been deposited in trust and thereafter repaid to the Company, have been delivered to the Trustee for
such Notes for cancellation; or

 

(2)           
all Notes that have not been delivered to the Trustee for cancellation have become due and payable by reason of the distribution
of a notice of redemption or otherwise or will become due and payable within one year and the Company or the 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 Notes, cash
in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities,
in such amounts as will be sufficient in the opinion of a nationally recognized investment bank, appraisal firm or firm of independent
public accountants, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the
Notes not delivered to the Trustee for cancellation for principal, premium, if any, and interest to the date of maturity or redemption;

 

(b)            
in respect of subclause ‎(2) of clause ‎(a) of this ‎Section 11.01, no Default or Event
of Default has occurred and is continuing on the date of the deposit (other than a Default or Event of Default resulting from
the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, or constitute
a default under, any other instrument to which the Company or the Guarantor is a party or by which the Company or the Guarantor
is bound;

 

(c)            
the Company or the Guarantor has paid or caused to be paid all sums payable by it under this Indenture; and

 

(d)            
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 on the redemption date, as the case may be.

 

In addition, the Company must
deliver an Officer’s Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction
and discharge have been satisfied.

 

Notwithstanding
the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to subclause ‎(i)
of clause ‎(a) of this ‎Section
11.01, the provisions of Sections ‎11.01 and ‎8.06
will survive. In addition, nothing in this ‎

 

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Section
11.01 will be deemed to discharge those provisions of ‎Section
7.07, that, by their terms, survive the satisfaction and discharge of this Indenture.

 

Section 11.02. 
Application of Trust Money. Subject to the provisions of ‎Section 8.06, all money deposited with the
Trustee pursuant to ‎Section 11.01 shall be held in trust and applied by it, in accordance with the provisions of the
Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its
own Paying Agent), to the Persons entitled thereto, of the principal, premium, if any, 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 Government Securities in accordance with ‎Section
11.01 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 the 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; 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 Government Securities held by the Trustee or Paying Agent.

 

Article
12

Miscellaneous

 

Section 12.01. 
[Intentionally Omitted].

 

Section 12.02. 
Notices. Any notice or communication by the Company, the Guarantor or the Trustee to the others is duly given if
in writing and delivered in Person or mailed by first class mail (registered or certified, return receipt requested), facsimile,
email or overnight air courier guaranteeing next day delivery, to the others’ address:

 

If to the
Company and/or the Guarantor:

 

Pier 1, Bay
3

San Francisco,
CA 94111

Attention:
General Counsel

Fax Number:
(415) 362-7900

Email Address:
generalcounsel@patternenergy.com

 

With a copy
to:

 

Davis Polk
& Wardwell LLP

450 Lexington
Avenue

New York,
New York 10017

Facsimile:
212-701-5674

 

    77

    

    

 

Attention:
Richard Truesdell

 

If to the
Trustee:

 

Deutsche
Bank Trust Company Americas

Trust &
Agency Services

60 Wall Street,
16th Floor

Mail Stop
NYC60-1630

New York,
New York 10005

Facsimile:
732-578-4635

Attention:
Corporates Team, Pattern Energy Group Inc.

 

With a Copy
to:

 

Deutsche
Bank Trust Company Americas

c/o Deutsche
Bank National Trust Company

Trust and
Agency Services

100 Plaza
One-6th Floor

Mail Stop:
JCY03-0699

Jersey City,
NJ 07311

Facsimile:
732-578-4635

Attention:
Corporates Team, Pattern Energy Group Inc.

 

The Company,
the Guarantor or the Trustee, by notice to the others, may designate additional or different addresses for subsequent notices
or communications.

 

All notices
and communications (other than those sent to Holders) will be deemed to have been duly given: at the time delivered by hand, if
personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged,
if sent via facsimile or email; and the next Business Day after timely delivery to the courier, if sent by overnight air courier
guaranteeing next day delivery.

 

Any notice
or communication to a Holder will be mailed by first class mail, certified or registered, return receipt requested, or by overnight
air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar, or, with respect to Global
Securities, in accordance with the Applicable Procedures. Failure to mail a notice or communication to a Holder or any defect
in it will not affect its sufficiency with respect to other Holders.

 

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

 

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

 

Section 12.03. 
[Intentionally Omitted].

 

    78

    

    

 

Section 12.04. 
Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company to the Trustee
to take any action under this Indenture, the Company shall furnish to the Trustee:

 

(i)           
an Officer’s Certificate in form and substance reasonably satisfactory to the Trustee (which must include the statements
set forth in ‎Section 12.05) stating that, in the opinion of the signers, all conditions precedent and covenants,
if any, provided for in this Indenture relating to the proposed action have been satisfied; and

 

(ii)           
an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which must include the statements set
forth in ‎Section 12.05) stating that, in the opinion of such counsel, all such conditions precedent and covenants
have been satisfied.

 

Section 12.05. 
Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a condition
or covenant provided for in this Indenture (other than the certificate required by ‎Section 4.04(a)) shall include:

 

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

 

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

 

(iii)           
a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to
enable him or her to express an informed opinion as to whether or not such covenant or condition has been satisfied; and

 

(iv)           
a statement as to whether or not, in the opinion of such Person, such condition or covenant has been satisfied.

 

Section 12.06. 
Rules by Trustee and Agents. The Trustee may make reasonable rules for action by or at a meeting of Holders. The
Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions.

 

Section 12.07. 
No Personal Liability of Directors, Officers, Employees and Stockholders. No director, manager, member, investor,
officer, employee, incorporator, stockholder, holder of Equity Interest, or affiliate of the Company or the Guarantor, as such,
will have any liability for any obligations of the Company or the Guarantor under any Securities, this Indenture, the Guarantee
or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting
any Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of any
Securities. The waiver may not be effective to waive liabilities under the federal securities laws.

 

    79

    

    

 

Section 12.08. 
Governing Law. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE
NOTES AND THE GUARANTEE.

 

Section 12.09. 
Waiver of Trial by Jury. EACH OF THE COMPANY, THE GUARANTOR AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS
INDENTURE, THE NOTES, THE GUARANTEE OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section 12.10. 
No Adverse Interpretation of Other Agreements. This Indenture may not be used to interpret any other indenture,
loan or debt agreement of the Company or its Subsidiaries or of any other Person. Any such indenture, loan or debt agreement may
not be used to interpret this Indenture.

 

Section 12.11. 
Successors. All agreements of the Company in this Indenture and any Securities will bind its successors. All agreements
of the Trustee in this Indenture will bind its successors. All agreements of the Guarantor in this Indenture will bind its successors,
except as otherwise provided in ‎Section 10.04.

 

Section 12.12. 
Severability. In case any provision in this Indenture or in any Securities 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. 
Counterpart Originals. The parties may sign any number of copies of this Indenture. Each signed copy will be an
original, but all of them together represent the same agreement.

 

Section 12.14. 
Table of Contents, Headings, etc. The Table of Contents, Cross-Reference Table and Headings of the Articles and
Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture
and will in no way modify or restrict any of the terms or provisions hereof.

 

Section 12.15. 
U.S.A. Patriot Act. In order to comply with the laws, rules, regulations and executive orders in effect from time
to time applicable to banking institutions, including, without limitation, those relating to the funding of terrorist activities
and money laundering, including Section 326 of the USA PATRIOT Act of the United States (“Applicable Law”),
the Trustee is required to obtain, verify, record and update certain information relating to individuals and entities which maintain
a business relationship with the Trustee. Accordingly, each of the parties agree to provide to the Trustee, upon their request
from time to time such identifying information and documentation as may be available for such party in order to enable the Trustee
to comply with Applicable Law.

 

 

[Signatures
on following page]

 

    80

    

    

 

SIGNATURES

 

Dated as of January 25, 2017

 

	 	PATTERN ENERGY GROUP INC.
	 	 
	 	 
	 	By:	/s/ Michael Lyon
	 	 	Name:Michael Lyon
	 	 	Title:Chief Financial Officer

 

 

	 	PATTERN US FINANCE COMPANY LLC
	 	 
	 	 
	 	By:	/s/ Michael Lyon
	 	 	Name:Michael Lyon
	 	 	Title:Chief Financial Officer

 

    
[Signature page to the Indenture]

    

    

 

	 	DEUTSCHE
BANK TRUST COMPANY AMERICAS, as Trustee

        

	 	 
	 	 
	 	By: Deutsche Bank National
Trust Company
	 	 
	 	 
	 	By:	/s/ Linda Reale
	 	 	Name:Linda Reale
	 	 	Title:Vice President
	 		 

 

    
[Signature page to the Indenture]

    

    

 

EXHIBIT
A

 

[Face of
Note]

 

CUSIP/CINS
[●]

 

5.875% Senior
Notes due 2024

 

	No. [●] 	$[●]

 

PATTERN ENERGY
GROUP INC.

 

promises to pay to or registered
assigns,

 

the principal sum of [●]
DOLLARS on February 1, 2024.

 

Interest Payment Dates: February
1 and August 1

 

Record Dates: January 15 and
July 15

 

	Date: [●], 20[●]	 	 
	 	 	 	 

 

    A-1

    

    

 

IN WITNESS WHEREOF, the parties
have caused this instrument to be duly executed.

 

	 	PATTERN ENERGY GROUP INC.
	 	 
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	This
is one of the Notes referred to in the within-mentioned Indenture:	 
	 	 
	DEUTSCHE
                    BANK TRUST COMPANY AMERICAS, as Trustee
	 
	 	 
	 	 
	By:	 	 
	 	Authorized Signatory	 

 

    A-2

    

    

 

[Back of
Note]

5.875% Senior Notes due 2024

 

[Insert
the Global Legend, if applicable pursuant to the provisions of the Indenture]

 

[Insert
the Private Placement Legend, if applicable pursuant to the provisions of the Indenture]

 

Capitalized
terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 

(i)           
INTEREST. Pattern Energy Group Inc., a Delaware corporation (the “Company”), promises to pay
interest on the principal amount of this Note at 5.875% per annum from [●], until maturity. The Company shall pay interest
semi-annually in arrears on February 1 and August 1 of each year, or if any such day is not a Business Day, on the next succeeding
Business Day (each, an “Interest Payment Date”), provided, that the first Interest Payment Date shall
be August 1, 2017. Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest
has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and
if this Note is authenticated between a record date referred to on the face hereof and the next succeeding Interest Payment Date,
interest shall accrue from such next succeeding Interest Payment Date. Interest will be computed on the basis of a 360-day year
of twelve 30-day months.

 

(ii)           
METHOD OF PAYMENT. The Company shall pay interest on the Notes (except defaulted interest) to the Persons who are
registered Holders of Notes at the close of business on the January 15 and July 15 next preceding the Interest Payment Date, even
if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in ‎Section
2.14 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium, if any, interest
at the office or agency of the Paying Agent and Registrar, or, at the option of the Company, payment of interest may be made by
check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer
of immediately available funds will be required with respect to principal of, premium, if any, and interest on, all Global Notes
and all other Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such
payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment
of public and private debts.

 

(iii)           
PAYING AGENT AND REGISTRAR. Initially, Deutsche Bank Trust Company Americas, the Trustee under the Indenture, will
act as Paying Agent and Registrar. The Company may change the Paying Agent or Registrar without prior notice to the Holders of
the Notes. The Company or any of its Subsidiaries may act as Paying Agent or Registrar.

 

    A-3

    

    

 

(iv)           
INDENTURE. The Company issued the Notes under an Indenture dated as of January 25, 2017 (the “Indenture”)
among the Company, the Guarantor and the Trustee in an aggregate initial principal amount of $350,000,000. The terms of the Notes
include those stated in the Indenture and those made part of the Indenture, and defined terms used but not defined in this Note
have the meanings set forth in the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture
for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture,
the provisions of the Indenture shall govern and be controlling. The Notes are unsecured obligations of the Company. The Indenture
does not limit the aggregate principal amount of Notes that may be issued thereunder.

 

(v)           
OPTIONAL REDEMPTION.

 

(a)   
At any time prior to February 1, 2020, the Company may on any one or more occasions redeem up to 35% of the aggregate principal
amount of the Notes at a redemption price equal to 105.875% of the principal amount of the Notes redeemed, plus accrued and unpaid
interest, if any, to the redemption date, with an amount equal to the net cash proceeds of one or more Equity Offerings, subject
to the rights of Holders of the Notes on the relevant record date to receive interest due on the relevant Interest Payment Date;
provided that:

 

(i)              
at least 50% of the aggregate principal amount of Notes originally issued under this Indenture (excluding Notes held by
the Company, its Subsidiaries and parent entities) remains outstanding immediately after the occurrence of such redemption (unless
all such Notes are concurrently repurchased or redeemed pursuant to another provision described in the Indenture); and

 

(ii)              
the redemption occurs within 90 days of the date of the closing of such equity offering.

 

(b)  
At any time prior to February 1, 2020, the Company may on any one or more occasions redeem all or a part of the Notes at
a redemption price equal to 100% of the principal amount of the Notes redeemed, plus the Applicable Premium as of, and accrued
and unpaid interest, if any, to the applicable date of redemption, subject to the rights of Holders on the relevant record date
to receive interest due on the relevant Interest Payment Date.

 

(c)   
Except pursuant to the preceding paragraphs (and pursuant to ‎Section
4.08(e) of the Indenture), the Notes will not be redeemable at the Company’s option prior to February 1, 2020.

 

    A-4

    

    

 

(d)  
On or after February 1, 2020, the Company may on any one or more occasions redeem all or a part of the Notes at the redemption
prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on the Notes
redeemed, to the applicable date of redemption, if redeemed during the twelve-month period beginning on February 1 of the years
indicated below, subject to the rights of Holders on the relevant record date to receive interest on the relevant Interest Payment
Date:

 

	Year
	 	Percentage 

	2020	 	102.938%
	2021	 	101.469%
	2022 and thereafter	 	100.000%

 

(e)   
Any redemption pursuant to this Section 5 shall be made pursuant to the provisions of Sections ‎3.01
through ‎3.06 of the Indenture.

 

(f)   
The provisions of ‎Article 3 of the Indenture do not
prohibit the Company or its affiliates from acquiring the Notes in private or open-market transactions by means other than a redemption,
whether pursuant to a tender offer, negotiated purchase or otherwise.

 

(vi)           
MANDATORY REDEMPTION. The Company is not required to make mandatory redemption or sinking fund payments with respect
to the Notes.

 

(vii)           
REPURCHASE AT THE OPTION OF HOLDER.

 

(a)   
Except as provided in the Indenture, upon the occurrence of a Change of Control Triggering Event, the Company will make
an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an
integral multiple of $1,000 in excess of $2,000) of that Holder’s Notes at a purchase price in cash equal to 101% of the
aggregate principal amount of Notes repurchased, plus accrued and unpaid interest, if any, on the Notes repurchased to the date
of purchase, subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest
payment date (the “Change of Control Payment”). Within 30 days following any Change of Control, the Company
will deliver a notice to each Holder (with a copy to the Trustee) setting forth the procedures governing the Change of Control
Offer as required by the Indenture.

 

(viii)           
NOTICE OF REDEMPTION. At least 30 days but not more than 60 days before a redemption date, the Company shall deliver
or cause to be delivered, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address, except
that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with
a defeasance of the Notes or a satisfaction and discharge of the Indenture pursuant

 

    A-5

    

    

 

to Articles ‎8 or ‎11
thereof. Notes and portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in excess thereof;
except that if all of the Notes of a Holder are to be redeemed or purchased, the entire outstanding amount of Notes held by such
Holder shall be redeemed or purchased.

 

(ix)           
DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and
integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided
in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements
and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture.
The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the
unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any Notes
for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the next succeeding
Interest Payment Date.

 

(x)           
PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as the owner of it for all purposes. Only
registered Holders have rights under the Indenture.

 

(xi)           
AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Indenture, the Notes or the Guarantee may be
amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding
Notes and any existing Default or Event of Default or compliance with any provision of the Indenture or the Notes or the Guarantee
may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes. In addition,
the Indenture provided that for certain purposes the Indenture and the Notes may be amended or supplemented without the consent
of any Holder of Notes.

 

(xii)           
DEFAULTS AND REMEDIES. In the case of an Event of Default specified in clause ‎(viii) or ‎(ix)
of ‎Section 6.01 of the Indenture with respect to the Company or the Guarantor, all outstanding Notes will become
due and payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the Trustee
or the Holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare all the Notes to be due
and payable immediately. Defaults may be waived, and accelerations rescinded, in accordance with the Indenture.

 

(xiii)           
TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its individual or any other capacity, may make loans to, accept deposits
from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if
it were not the Trustee. However, in the event

 

    A-6

    

    

 

that the Trustee acquires any conflicting interest it must eliminate such conflict
within 90 days, apply to the SEC for permission to continue as trustee or resign. Any Agent may do the same with like rights and
duties. The Trustee is also subject to and entitled to the benefits of ‎Article 7 of the Indenture.

 

(xiv)           
NO RECOURSE AGAINST OTHERS. No director, manager, member, investor, officer, employee, incorporator, stockholder,
holder of Equity Interest, or affiliate of the Company or the Guarantor, as such, will have any liability for any obligations
of the Company or the Guarantors under the Notes, the Indenture, the Guarantee or for any claim based on, in respect of, or by
reason of, such obligations or their creation. 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. The waiver may not be effective to waive liabilities
under the federal securities laws.

 

(xv)           
AUTHENTICATION. This Note will not be valid until authenticated by the manual signature of the Trustee or an authenticating
agent.

 

(xvi)           
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).

 

(xvii)           
CUSIP NUMBERS. Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures,
the Company has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption
as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon.

 

(xviii)           
GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS
NOTE AND THE GUARANTEE.

 

(xix)           
WAIVER OF TRIAL BY JURY. EACH OF THE COMPANY, THE GUARANTOR AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS
INDENTURE, THE NOTES, THE GUARANTEE OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

(xx)           
GUARANTEE. This Note is entitled to the benefits of the Guarantee set forth in ‎Article 10 of
the Indenture, notwithstanding the lack of a notation of guarantee on this Note.

 

    A-7

    

    

 

The Company
shall furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to:

 

Pier 1, Bay 3

San Francisco, CA 94111

Attention: General Counsel

Fax Number: (415) 362-7900

Email Address: generalcounsel@patternenergy.com

 

    A-8

    

    

 

ASSIGNMENT
FORM

 

To assign
this Note, fill in the form below:

 

(I) or (we) assign and transfer
this Note to:

 

 

	 	 
	 	(Insert assignee’s legal name)

 

 

	 
	(Insert assignee’s soc. sec. or tax I.D. no.)

 

 

 

(Print or
type assignee’s name, address and zip code)

 

and irrevocably appoint to transfer
this Note on the books of the Company. The agent may substitute another to act for him.

 

	Date:	 	 	 
	 	 	 	 

 

 

	 	 	Your Signature:
	 	 	 
	 	 	 	 
	 	 	 	(Sign exactly as your name appears on the face of this Note)

 

 

	Signature Guarantee*	 	 	 
	 	 	 	 

 

 

 

 

 

 

 

 

*Participant
in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

 

    A-9

    

    

  

Option of Holder to Elect Purchase

 

If you want
to elect to have this Note purchased by the Company pursuant to ‎Section
4.08 of the Indenture, check here: □

 

If you want
to elect to have only part of the Note purchased by the Company pursuant to ‎Section
4.08 of the Indenture, state the amount you elect to have purchased:

 

$

 

	Date:	 	 	 
	 	 	 	 

 

 

	 	 	Your Signature:
	 	 	 
	 	 	 	 
	 	 	 	(Sign exactly as your name appears on the face of this Note)

 

 

	 	 	Tax Identification
No.:
	 	 	 
	 	 	 	 

 

	Signature Guarantee*	 	 	 
	 	 	 	 

 

 

 

 

 

 

 

* Participant
in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee).

 

    A-10

    

    

 

SCHEDULE
OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE*

 

The following
exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part
of another Global Note or Definitive Note for an interest in this Global Note, have been made:

 

	Date
of Exchange 
	Amount
of

decrease in

Principal Amount

of

this Global Note
	Amount
of

increase in

Principal Amount

of

this Global Note
	Principal
Amount

of this Global Note

following such

decrease

(or increase) 
	Signature
of

authorized officer

of Trustee or

Custodian 

	 	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*
This schedule should be included only if the Note is issued in global form.

 

    A-11

    

    

 

EXHIBIT
B

 

FORM OF CERTIFICATE
OF TRANSFER

 

Pier 1, Bay 3

San Francisco, CA 94111

Attention: General Counsel

Fax Number: (415) 362-7900

Email Address: generalcounsel@patternenergy.com

DB Services Americas, Inc.

5022 Gate Parkway, Suite 200,

Jacksonville, FL 32256 USA

Attention: Transfer

 

Copy to:

 

Deutsche Bank Trust Company Americas

c/o Deutsche Bank National Trust
Company

Corporate Trust

100 Plaza One, Mailstop JCY03-0699

Jersey City, New Jersey 07311

Attn:  Corporates Team Deal
Manager – Pattern Energy Group Inc.

Fax:  732-578-4635

 

 

Re: 5.875%
Senior Notes due 2024 

 

Reference
is hereby made to the Indenture, dated as of January 25, 2017 (the “Indenture”), among Pattern Energy Group
Inc., as issuer (the “Company”), the Guarantor party thereto and Deutsche Bank Trust Company Americas, as trustee.
Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.

 

[●],
(the “Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex
A hereto, in the principal amount of $[●] in such Note[s] or interests (the “Transfer”), to (the “Transferee”),
as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that:

 

[CHECK ALL
THAT APPLY]

 

1. □
Check if Transferee will take delivery of a beneficial interest in the 144A Global Note or a Restricted Definitive Note pursuant
to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933,
as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the beneficial
interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial
interest or Definitive Note for its own account, or for one or more accounts with respect to which such Person exercises sole
investment discretion, and such Person and each such account is a

 

    B-1

    

    

 

“qualified
institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer
is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed
Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject
to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted
Definitive Note and in the Indenture and the Securities Act.

 

2. □
Check if Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a Restricted Definitive
Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under
the Securities Act and, accordingly, the Transferor hereby further certifies that ‎(i)
the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee
was outside the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the
Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated
offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged
with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule
903(b) or Rule 904(b) of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade
the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of
the Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than
an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend
printed on the Regulation S Global Note and/or the Restricted Definitive Note and in the Indenture and the Securities Act.

 

3. □
Check and complete if Transferee will take delivery of a beneficial interest in a Restricted Definitive Note pursuant to any
provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the
transfer restrictions applicable to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and pursuant
to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and
accordingly the Transferor hereby further certifies that (check one):

 

(a)
□ such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act;

 

or

 

(b)
□ such Transfer is being effected to the Company or a subsidiary thereof;

 

or

 

    B-2

    

    

 

(c)
□ such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance
with the prospectus delivery requirements of the Securities Act;

 

or

 

(d)
□ such Transfer is being effected to an Institutional Accredited Investor and pursuant to an exemption from the registration
requirements of the Securities Act other than Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further certifies
that it has not engaged in any general solicitation within the meaning of Regulation D under the Securities Act and the Transfer
complies with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Definitive
Notes and the requirements of the exemption claimed, which certification is supported by (1) a certificate executed by the Transferee
in the form of Exhibit D to the Indenture and (2) if such Transfer is in respect of a principal amount of Notes at the
time of transfer of less than $250,000, an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the
Transferor has attached to this certification), to the effect that such Transfer is in compliance with the Securities Act. Upon
consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive
Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive
Notes and in the Indenture and the Securities Act.

 

4. □
Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted Definitive
Note.

 

(a)
□ Check if Transfer is pursuant to Rule 144. ‎(i)
The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the
transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States
and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture,
the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in
the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.

 

(b)
□ Check if Transfer is Pursuant to Regulation S. ‎(i)
The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance
with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United
States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order
to maintain compliance with

 

    B-3

    

    

 

the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the
Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated
in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.

 

(c)
□ Check if Transfer is Pursuant to Other Exemption. ‎(i)
The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities
Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture and
any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation
of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note
will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global
Notes or Restricted Definitive Notes and in the Indenture.

 

This certificate
and the statements contained herein are made for your benefit and the benefit of the Company.

 

	 	 
	 	[Insert Name of Transferor]

 

 

	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	Date:	 	 	 
	 	 	 	 

 

 

    B-4

    

    

 

ANNEX A TO
CERTIFICATE OF TRANSFER

 

1. The Transferor
owns and proposes to transfer the following:

 

[CHECK ONE
OF (a) OR ‎(b)]

 

(a)
□ a beneficial interest in the:

 

(i) □ 144A Global
Note (CUSIP 70338P AC4), or

 

(ii) □ Regulation
S Global Note (CUSIP U70442 AA3), or

 

(b)
□ a Restricted Definitive Note.

 

2. After
the Transfer the Transferee will hold:

 

[CHECK ONE]

 

(a)
□ a beneficial interest in the:

 

(i) □ 144A Global
Note (CUSIP 70338P AC4), or

 

(ii) □ Regulation
S Global Note (CUSIP U70442 AA3), or

 

(iii) □ Unrestricted
Global Note (CUSIP [●]); or

 

(b)
□ a Restricted Definitive Note; or

 

(c)
□ an Unrestricted Definitive Note,

 

in
accordance with the terms of the Indenture.

 

    B-5

    

    

 

EXHIBIT
C

 

FORM OF CERTIFICATE
OF EXCHANGE

 

Pier 1, Bay
3

San Francisco,
CA 94111

Attention:
General Counsel

Fax Number:
(415) 362-7900

Email Address:
generalcounsel@patternenergy.com

 

DB Services Americas, Inc.

MS: JCK01-0218

Attention: Reorg. Department

5022 Gate Parkway, Suite 200

Jacksonville, FL  32256

DB.Reorg@db.com

Fax: 615-866-3889

Telephone Assistance (877) 843-9767

 

Copy to:

 

Deutsche Bank Trust Company Americas

c/o Deutsche Bank National Trust
Company

Corporate Trust

100 Plaza One, Mailstop JCY03-0699

Jersey City, New Jersey 07311

Attn:  Corporates Team Deal
Manager – Pattern Energy Group Inc.

Fax:  732-578-4635

 

 

		Re:	5.875% Senior Notes
due 2024

 

(CUSIP [●])

 

Reference
is hereby made to the Indenture, dated as of January 25, 2017 (the “Indenture”), among Pattern Energy Group
Inc., as issuer (the “Company”), the Guarantor party thereto and Deutsche Bank Trust Company Americas, as trustee.
Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.

 

[●],
(the “Owner”) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the
principal amount of $[●] in such Note[s] or interests (the “Exchange”). In connection with the Exchange,
the Owner hereby certifies that:

 

1. Exchange
of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or Beneficial
Interests in an Unrestricted Global Note

 

    C-1

    

    

 

(a) □
Check if Exchange is from beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global
Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial
interest in an Unrestricted Global Note in an equal principal amount, the Owner hereby certifies ‎(i)
the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected
in compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the Securities
Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture
and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial
interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state
of the United States.

 

(b) □
Check if Exchange is from beneficial interest in a Restricted Global Note to Unrestricted Definitive Note. In connection
with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the
Owner hereby certifies ‎(i) the Definitive Note is being acquired
for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions
applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on
transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any
state of the United States.

 

(c) □
Check if Exchange is from Restricted Definitive Note to beneficial interest in an Unrestricted Global Note. In connection
with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the
Owner hereby certifies ‎(i) the beneficial interest is being
acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions
on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with
the Securities Act and (iv) the beneficial interest is being acquired in compliance with any applicable blue sky securities laws
of any state of the United States.

 

(d) □
Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In connection with the Owner’s
Exchange of a Restricted Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies ‎(i)
the Unrestricted Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has
been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance
with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in
compliance with any applicable blue sky securities laws of any state of the United States.

 

    C-2

    

    

 

2. Exchange
of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or Beneficial
Interests in Restricted Global Notes

 

(a) □
Check if Exchange is from beneficial interest in a Restricted Global Note to Restricted Definitive Note. In connection
with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an
equal principal amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner’s
own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted
Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend
printed on the Restricted Definitive Note and in the Indenture and the Securities Act.

 

(b) □
Check if Exchange is from Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection
with the Exchange of the Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE] □ 144A Global
Note, □ Regulation S Global Note, the Owner hereby certifies ‎(i)
the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected
in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with
the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation
of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the
Indenture and the Securities Act.

 

This certificate
and the statements contained herein are made for your benefit and the benefit of the Company.

 

	 	 
	 	[Insert Name of Transferor]

 

 

	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

	Date:	 	 	 
	 	 	 	 

 

    C-3

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