Document:

Exhibit 10.2

 

AMENDMENT NO. 2

 

AMENDMENT NO. 2 (this “Agreement”) dated as of September 24, 2014 by and among ARES HOLDINGS L.P., a Delaware limited partnership (as successor by conversion to Ares Holdings LLC) (“Ares Holdings”), ARES DOMESTIC HOLDINGS L.P., a Delaware limited partnership (“Ares Domestic Holdings”), ARES INVESTMENTS L.P., a Delaware limited partnership (as successor by conversion to Ares Investments LLC) (“Ares Investments”), ARES REAL ESTATE HOLDINGS L.P., a Delaware limited partnership (“Ares Real Estate”, together with Ares Holdings, Ares Domestic Holdings, Ares Investments and any other Person that thereafter become borrowers under the Credit Agreement by joinder, are referred to hereinafter individually and collectively, jointly and severally, as the “Borrower”), the Guarantors party hereto, the Lenders identified on the signature pages hereto and JPMorgan Chase Bank, N.A., as Agent.

 

The Borrower and the Lenders party hereto wish now to amend that certain Sixth Amended and Restated Senior Credit Agreement, dated as of April 21, 2014 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) as follows:

 

Section 1.  Definitions.  Except as otherwise defined in this Agreement, terms defined in the Credit Agreement are used herein as defined therein.  This Agreement shall constitute a Loan Document for all purposes of the Credit Agreement and the other Loan Documents.

 

Section 2.  Amendments.  Subject to the satisfaction of the conditions precedent specified in Section 4 below, but effective as of the date hereof, the Credit Agreement shall be amended as follows:

 

2.01.  References Generally.  References in the Credit Agreement (including references to the Credit Agreement as amended hereby) to “this Agreement” (and indirect references such as “hereunder”, “hereby”, “herein” and “hereof”) shall be deemed to be references to the Credit Agreement as amended hereby.

 

2.02.       Amendment to Section 4.16.  Section 4.16 of the Credit Agreement shall by amended by deleting the provision in its entirety and replacing it with the phrase:  “[Intentionally Omitted]”.

 

2.03.       Amendment to Section 6.14(ii).  Clause (ii) of Section 6.14 of the Credit Agreement shall be amended by deleting the provision in its entirety and replacing it with the following:

 

(ii)           clause (a) of the foregoing shall not apply to (x) customary provisions in leases and other contracts restricting the assignment thereof or the property subject thereto, (y) customary provisions of any Purchase Money Debt, provided that such provisions apply only to the property or assets being acquired with such Purchase Money Debt, or (z) customary provisions in agreements governing Debt incurred under Section 6.1(b).

 

Section 3.  Representations and Warranties.  Each Borrower, individually as to itself only, represents and warrants to the Lenders and the Administrative Agent, that this Agreement has been duly executed and delivered by such Borrower and constitutes a legal, valid and binding obligation of such Borrower, enforceable in accordance with its terms, except as such enforceability may be limited by (a) bankruptcy, insolvency, reorganization, moratorium or similar laws of general applicability affecting the enforcement of creditors’ rights and (b) the application of general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

 

1

 

Section 4.  Conditions Precedent.  The amendments set forth in Section 2 hereof shall become effective, as of the date hereof, upon satisfaction of the following conditions:

 

(a)           Execution.  The Administrative Agent shall have received counterparts of this Agreement executed by the Borrower and the Lenders constituting the Required Lenders under the Credit Agreement.

 

Section 5.  Miscellaneous.  Except as herein provided, the Credit Agreement shall remain unchanged and in full force and effect.  Except as herein provided, this Agreement shall not operate as an amendment or waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents.  This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same amendatory instrument and any of the parties hereto may execute this Agreement by signing any such counterpart.  Delivery of a counterpart by electronic transmission shall be effective as delivery of a manually executed counterpart hereof.  This Agreement and any right, remedy, obligation, claim, controversy, dispute or cause of action (whether in contract, tort or otherwise) based upon, arising out of or relating to this Agreement shall be governed by, and construed in accordance with, the law of the State of New York without regard to conflicts of law principles that would lead to the application of laws other than the law of the State of New York.

 

2

 

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

 

	
 
    	
ARES HOLDINGS L.P.,
    
	
 
    	
a Delaware limited partnership
    
	
 
    	
 
    
	
 
    	
By: ARES HOLDINGS INC., its General Partner
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Naseem Sagati
    
	
 
    	
Name: 
    	
Naseem Sagati
    
	
 
    	
Title: 
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
ARES INVESTMENTS L.P.,
    
	
 
    	
a Delaware limited partnership
    
	
 
    	
 
    
	
 
    	
By: ARES MANAGEMENT, L.P., its General Partner
    
	
 
    	
 
    
	
 
    	
 
    	
By: ARES MANAGEMENT GP LLC, its General Partner
    
	
 
    	
 
    
	
 
    	
By: 
    	
s/ Naseem Sagati
    
	
 
    	
Name: 
    	
Naseem Sagati
    
	
 
    	
Title: 
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
ARES DOMESTIC HOLDINGS L.P.,
    
	
 
    	
a Delaware limited partnership
    
	
 
    	
 
    
	
 
    	
By: ARES DOMESTIC HOLDINGS INC., its general   partner
    
	
 
    	
 
    
	
 
    	
By: 
    	
s/ Naseem Sagati
    
	
 
    	
Name: 
    	
Naseem Sagati
    
	
 
    	
Title: 
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
ARES REAL ESTATE HOLDINGS L.P.,
    
	
 
    	
a Delaware limited partnership
    
	
 
    	
 
    
	
 
    	
By: ARES REAL ESTATE HOLDINGS LLC, its general   partner
    
	
 
    	
 
    
	
 
    	
By: 
    	
s/ Naseem Sagati
    
	
 
    	
Name: 
    	
Naseem Sagati
    
	
 
    	
Title: 
    	
Authorized Signatory
    
				

 

3

 

	
 
    	
JPMORGAN CHASE BANK, N.A.,
    
	
 
    	
as Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Lauren Gubkin
    
	
 
    	
Name: 
    	
Lauren Gubkin
    
	
 
    	
Title: 
    	
Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
U.S. Bank National Association,  
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Robert C. Mayer, Jr.
    
	
 
    	
Name: 
    	
Robert C. Mayer, Jr.
    
	
 
    	
Title: 
    	
Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Wells Fargo Bank, National   Association,  
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Luke Harbinson
    
	
 
    	
Name: 
    	
Luke Harbinson
    
	
 
    	
Title: 
    	
Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
City National Bank,
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Brandon L. Feitelson
    
	
 
    	
Name: 
    	
Brandon L. Feitelson
    
	
 
    	
Title: 
    	
Senior Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Citibank, N.A.,
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Eros Marshall
    
	
 
    	
Name: 
    	
Eros Marshall
    
	
 
    	
Title: 
    	
Vice President
    

 

 

	
 
    	
Royal Bank of Canada,
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Greg DeRise
    
	
 
    	
Name:
    	
Greg DeRise
    
	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SunTrust Bank,
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Doug Kennedy
    
	
 
    	
Name: 
    	
Doug Kennedy
    
	
 
    	
Title: 
    	
Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Morgan Stanley Bank, N.A.,  
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Harry Comninellis
    
	
 
    	
Name: 
    	
Harry Comninellis
    
	
 
    	
Title: 
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Barclays Bank PLC,
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Alicia Borys
    
	
 
    	
Name: 
    	
Alicia Borys
    
	
 
    	
Title: 
    	
Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Deutsche Bank AG New York   Branch,  
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Kirk Tashjian
    
	
 
    	
Name: 
    	
Kirk Tashjian
    
	
 
    	
Title: 
    	
Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Michael Winters
    
	
 
    	
Name: 
    	
Michael Winters
    
	
 
    	
Title: 
    	
Vice President
    

 

 

	
 
    	
Credit Suisse AG, Cayman   Islands Branch,  
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Doreen Barr
    
	
 
    	
Name: 
    	
Doreen Barr
    
	
 
    	
Title: 
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Michael Spaight
    
	
 
    	
Name: 
    	
Michael Spaight
    
	
 
    	
Title: 
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Bank of America, N.A.,
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Dominic Malleo
    
	
 
    	
Name: 
    	
Dominic Malleo
    
	
 
    	
Title: 
    	
Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
The Bank of New York Mellon,
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Jean Earley
    
	
 
    	
Name: 
    	
Jean Early
    
	
 
    	
Title: 
    	
Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Goldman Sachs Bank USA,
    
	
 
    	
as a Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Michelle Latzoni
    
	
 
    	
Name: 
    	
Michelle Latzoni
    
	
 
    	
Title: 
    	
Authorized SignatoryEX-4.1

 Exhibit 4.1 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THIS SECURITY IS A GLOBAL SECURITY AS REFERRED TO IN THE INDENTURE
HEREINAFTER REFERENCED. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL SECURITIES REPRESENTED HEREBY, TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A
SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

			
	REGISTERED	  	$250,000,000
		
	NO. 1	  	CUSIP No.: 232820 AK6
		  	ISIN No.: US232820AK60

 CYTEC INDUSTRIES INC. 

3.95% Senior Note due 2025 

CYTEC INDUSTRIES INC., a Delaware corporation (the “Company”), promises to pay to Cede & Co., or its registered assigns,
the principal amount of TWO HUNDRED FIFTY MILLION Dollars ($250,000,000) on May 1, 2025. 
 Interest Payment Dates: May 1 and
November 1, commencing May 1, 2015. 
 Record Dates: April 15 and October 15. 

Additional provisions of this Note are set forth on the other side of this Note. Such additional provisions shall for all purposes have the
same effect as if set forth at this place. 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile by its
duly authorized officers. 
 Dated: November 12, 2014 
  

			
	CYTEC INDUSTRIES INC.
		
	By:	 	  

		 	Name:
		 	Title:
		 	
		
	By:	 	  

		 	Name:
		 	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

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

Dated: November 12, 2014 
  

			
	 THE BANK OF NEW YORK MELLON,
as Trustee,

		
	By:	 	  

		 	Authorized Signatory

 3.95% Senior Note due 2025 

 

	1.	Interest 

 Cytec Industries Inc., a Delaware corporation (such corporation, and its
successors and assigns under the Indenture hereinafter referred to, being herein called the “Company”), promises to pay interest on the principal amount of this Note at the rate per annum shown above. The Company will pay interest
semi-annually on May 1 and November 1 of each year, commencing May 1, 2015. Interest on the Note will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from November 12, 2014.
Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. 
  

	2.	Method of Payment 

 The Company will pay interest on the Notes (except defaulted
interest) to the Persons who are registered holders of Notes at the close of business on the record date (whether or not a business day) immediately preceding the interest payment date even if Notes are canceled after the record date and on or
before the interest payment date. Holders must surrender Notes to a Paying Agent to collect principal payments. The Company will pay principal and interest in money of the United States that at the time of payment is legal tender for payment of
public and private debts. Payments in respect of the Notes represented by a Global Note (including principal, premium and interest) may be made by wire transfer of immediately available funds to the accounts specified by The Depository Trust
Company. The Company will make all payments in respect of a certificated Note (including principal, premium and interest) by mailing a check to the registered address of each Holder thereof; provided, however, that payments on a certificated Note
will be made by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating
such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). 
  

	3.	Paying Agent and Registrar 

 Initially, The Bank of New York Mellon (the
“Trustee”) will act as Paying Agent and Registrar. The Company may appoint and change any Paying Agent, Registrar or co-registrar without notice. The Company or any of its domestically incorporated Wholly Owned Subsidiaries may act as
Paying Agent, Registrar or co-registrar. 
  

	4.	Indenture 

 The Company issued the Notes under an Indenture, dated as of March 15,
1998, as supplemented and amended by the First Supplemental Indenture, dated as of May 11, 1998, and the Fourth Supplemental Indenture, dated as of November 12, 2014 (the “Fourth Supplemental Indenture”), between the Company and
the Trustee, as successor to JPMorgan Chase Bank, National Association, as successor to PNC Bank, National Association (collectively, the “Indenture”). The terms of the Notes include those stated in the Indenture and those made part of the
Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S.C. 77aaa-77bbb), as in effect on the date of the Indenture (the “Act”). Terms defined in the 

 
Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Act for a
statement of those terms. 
 The Notes are senior unsecured obligations of the Company initially limited to $250,000,000 aggregate principal
amount (subject to Section 2.11 of the Indenture). 
  

	5.	Further Issuance 

 The Company may from time to time, without notice to or the consent of
the Holders of the Notes, issue additional Notes (the “Additional Notes”) having the same ranking and the same interest rate, Maturity and other terms as the Initial Notes. Any Additional Notes and the Initial Notes shall constitute a
single series under the Indenture and all references to the Notes shall include the Initial Notes and any Additional Notes unless the context otherwise requires. 
  

	6.	Optional Redemption 

 The Notes may be redeemed, in whole or in part, at the
Company’s option at any time or from time to time. In such event, the Company shall notify the Trustee of its decision to redeem the Notes, in whole or in part, as provided in the Indenture. The redemption price for the Notes to be redeemed on
any Redemption Date before February 1, 2025 (the “Early Call Date”) shall be calculated by the Company and shall be equal to the greater of the following amounts: (i) 100% of the Principal Amount of the Notes to be redeemed on
the Redemption Date, or (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest on the Notes being redeemed to the Early Call Date discounted to the Redemption Date
on a semi-annual basis at the Treasury Rate, plus 25 basis points, plus, in each case, accrued and unpaid interest on the principal amount of the Notes being redeemed to, but not including, the Redemption Date. The redemption price for the Notes to
be redeemed on any Redemption Date on or after the Early Call Date shall be equal to 100% of the principal amount of the Notes to be so redeemed, plus accrued and unpaid interest on the principal amount being redeemed to, but not including, the
Redemption Date. 
 Notwithstanding the foregoing, installments of interest on the Notes that are due and payable on interest payment dates
falling on or prior to a Redemption Date shall be payable on the interest payment date to the registered holders as of the close of business on the relevant record date according to the Notes and the Indenture. The redemption price shall be
calculated on the basis of a 360-day year consisting of twelve 30-day months. 
 “Treasury Rate” means, with respect to any
Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its Principal Amount) equal to the
Comparable Treasury Price for such Redemption Date. 
 “Comparable Treasury Issue” means the United States Treasury security
selected by the Reference Treasury Dealer as having an actual or interpolated maturity comparable to the remaining term of the Notes to be redeemed to the Early Call Date that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of 

 
corporate debt securities of a comparable maturity to the remaining term of the Notes to the Early Call Date. 

“Comparable Treasury Price” means, with respect to any Redemption Date, (A) the arithmetic average of the Reference Treasury
Dealer Quotations for such Redemption Date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (B) if the Quotation Agent obtains fewer than four such Reference Treasury Dealer Quotations, the average of all
such Quotations; or (C) if only one Reference Treasury Dealer Quotation is received, such quotation. 
 “Primary Treasury
Dealer” means a primary U.S. Government securities dealer in the United States. 
 “Quotation Agent” means, for the purposes
of determining the redemption price for any optional redemption made pursuant to Section 3.03 of the Fourth Supplemental Indenture and this Note, a Primary Treasury Dealer appointed by the Company. 

“Reference Treasury Dealer” means (A) Citigroup Global Markets Inc., RBS Securities Inc. or Wells Fargo Securities, LLC (or
their respective affiliates which are Primary Treasury Dealers) and their respective successors; provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company shall substitute therefor another
Primary Treasury Dealer; and (B) one or more other Primary Treasury Dealers selected by the Company. 
 “Reference Treasury Dealer
Quotation” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage
of its Principal Amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

On and after the Redemption Date for the Notes, interest will cease to accrue on the Notes or any portion of the Notes called for redemption,
unless the Company defaults in the payment of the redemption price and accrued interest. On or before the Redemption Date, the Company shall deposit with the Paying Agent (or the Trustee) money sufficient to pay the redemption price of and accrued
interest on the Note to be redeemed on that date. 
 In the case of any partial redemption, selection of the Notes for redemption will be
made as set forth in Section 3.03(c) of the Fourth Supplemental Indenture; provided that no Note of $2,000 in original principal amount or less shall be redeemed in part. If any Note is to be redeemed in part only, the notice of redemption
relating to such Note shall state the portion of the principal amount thereof to be redeemed. A new Note in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original
Note. 

	7.	Notice of Redemption 

 Notice of redemption will be mailed at least 30 days but not more
than 60 days before the Redemption Date to each Holder of the Notes to be redeemed. Once notice of redemption is mailed, the Notes called for redemption will become due and payable on the Redemption Date and at the applicable redemption price, plus
accrued and unpaid interest to the Redemption Date. 
  

	8.	Repurchase upon a Change of Control Triggering Event 

 Upon the occurrence of a Change of
Control Triggering Event with respect to the Notes, the Company shall be required to make an offer to repurchase the Notes on the terms set forth in Section 3.04 of the Fourth Supplemental Indenture. 

 

	9.	Denominations; Transfer; Exchange 

 The Notes are in registered form without coupons in
denominations of $2,000 and whole multiples of $1,000 in excess thereof. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements or
transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange of any Notes selected for redemption (except, in the case of a Note to be redeemed in part,
the portion of the Note not to be redeemed) or any Notes for a period of 15 days before a selection of Notes to be redeemed. 
  

	10.	Persons Deemed Owners 

 The registered Holder of this Note may be treated as the owner of
it for all purposes. 
  

	11.	Unclaimed Money 

 If money for the payment of principal or interest remains unclaimed for
two years, the Trustee or Paying Agent shall pay the money back to the Company at its request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to
the Trustee for payment. 
  

	12.	Discharge and Defeasance 

 Subject to certain conditions and in accordance with Sections
8.01 and 8.02 of the Indenture, the Company at any time may terminate some or all of its obligations under the Notes and the Indenture if the Company irrevocably deposits with the Trustee money or U.S. Government Obligations for the payment of
principal and interest on the Notes to redemption or maturity, as the case may be. 

	13.	Amendment, Waiver 

 Subject to certain exceptions set forth in the Indenture,
(i) the Indenture or the Notes may be amended with the written consent of the Holders of at least a majority in principal amount outstanding of the Notes and (ii) the Holders of a majority in principal amount of the Notes by notice to the
Trustee may waive an existing Default. Subject to certain exceptions set forth in the Indenture, without the consent of any Holder, the Company and the Trustee may amend the Indenture or the Notes to cure any ambiguity, omission, defect or
inconsistency, or to comply with Article 5 of the Indenture, or to provide for uncertificated Notes in addition to or in place of certificated Notes, or to add guarantees with respect to the Notes or to secure the Notes, or to add additional
covenants or surrender rights and powers conferred on the Company, or to comply with any request of the SEC in connection with qualifying the Indenture under the Act, or to make any change that does not adversely affect the rights of any Holder, or
to evidence and provide for the acceptance of appointment of a successor Trustee or separate Trustee (or to change any provisions of the Indenture relating to such appointment). 

 

	14.	Defaults and Remedies 

 Under the Indenture, Events of Default include (i) the
Company defaults in any payment of interest, if any, on the Notes when the same becomes due and payable and such default continues for a period of 30 days; (ii) the Company defaults in the payment of principal of or premium, if any, on the
Notes when the same becomes due and payable at their Stated Maturity or upon redemption, declaration, required repurchase or otherwise; (iii) the Company fails to comply with any covenants or agreements on the part of the Company in the Notes
or in the Indenture with respect to the Notes, and such failure continues for 60 days after the notice specified below; (iv) certain events of bankruptcy, insolvency or reorganization of the Company; or (v) an event of default, as defined
in any indenture or instrument evidencing or under which the Company has at the date of the Indenture or shall thereafter have outstanding at least $50,000,000 aggregate principal amount of indebtedness for borrowed money, shall happen and be
continuing and such indebtedness shall have been accelerated so that the same shall be or become due and payable prior to the date on which the same would otherwise have become due and payable, or such aggregate principal amount of indebtedness
shall not be paid when due, and such acceleration or nonpayment shall not be rescinded or annulled within 30 days after notice thereof shall have been given to the Company by the Trustee (if such event be known to it), or to the Company and the
Trustee by the Holders of at least 25% in aggregate principal amount of the Notes at the time outstanding; provided, however, that, for the purposes of this subsection (v), the Company shall not be deemed to be in default if it shall be contesting
in good faith its liability for the payment of the principal in question, and shall have been advised by its counsel that it has a meritorious defense thereto; and provided further that, if such event of default under such indenture or instrument
shall be remedied or cured by the Company or waived by the holders of such indebtedness, then the Event of Default hereunder by reason thereof shall be deemed likewise to have been thereupon remedied, cured or waived without further action upon the
part of either the Trustee or any of the Holders. 
 A Default under clause (iii) of this Section 14 with respect to the Notes is
not an Event of Default with respect to the Notes until the Trustee or the Holders of at least 25% in 

 
principal amount of the outstanding Notes notify the Company of the Default and the Company does not cure such Default within the time specified after receipt of such notice. 

If an Event of Default (other than an Event of Default specified in clauses (iv) of this Section 14 with respect to the Notes occurs
and is continuing, the Trustee by notice to the Company, or the Holders of at least 25% in principal amount of the outstanding Notes by notice to the Company and the Trustee, may declare the principal of and accrued but unpaid interest on all the
Notes to be due and payable. Upon such a declaration, such principal and interest with respect to such series shall be due and payable immediately. An Event of Default specified in clause (iv) of this Section 14 will result in the Notes
being due and payable immediately upon the occurrence of such an Event of Default. 
 The Holders of a majority in principal amount of the
Notes by notice to the Trustee may rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default with respect to the Notes have been cured or waived except
nonpayment of principal, premium, if any, or interest, if any, that has become due solely because of acceleration. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 

The Holders of a majority in principal amount of the Notes may direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee or of exercising any trust or power conferred on the Trustee with respect to the Notes. 
 A Holder of the Notes
may not pursue any remedy with respect to the Indenture or the Notes unless: (i) such Holder gives to the Trustee written notice stating that an Event of Default with respect to the Notes is continuing; (ii) the Holders of at least 25% in
principal amount of the Notes make a written request to the Trustee to pursue the remedy; (iii) such Holder or Holders offer to the Trustee reasonable security or indemnity against any loss, liability or expense; (iv) the Trustee does not
comply with the request within 60 days after receipt of the request and the offer of security or indemnity; and (v) the Holders of a majority in principal amount of the Notes do not give the Trustee a direction inconsistent with the request
during such 60-day period. 
  

	15.	Trustee Dealings with the Company 

 Subject to certain limitations imposed by the Act,
the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Company and may otherwise deal with the Company with the same
rights it would have if it were not Trustee. 
  

	16.	No Recourse Against Others 

 A director, officer, employee or stockholder, as such, of
the Company or the Trustee shall not have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. By accepting a Note, each Holder
waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Notes. 

	17.	Authentication 

 This Note shall not be valid until an authorized signatory of the
Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Note. 
  

	18.	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 rights of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform Gift to Minors Act). 

 

	19.	Governing Law 

 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

 

	20.	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 has directed the Trustee to 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. 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 I or we assign
and transfer this Note to 
  

					
		 	  
	 	
		 	(Print or type assignee’s name, address and zip code)	 	
			
		 	  
	 	
		 	(Insert assignee’s soc. sec. or tax I.D. No.)	 	

 and irrevocably appoint
                     agent 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 other side of this Note. 

 SCHEDULE OF INCREASES OR DECREASES IN PRINCIPAL AMOUNT 

The initial principal amount of this Note is $250,000,000. The following increases or decreases in this Note have been made: 

 

									
	 Date of Redemption or Repurchase
	  	Amount of decrease in
Principal Amount of this
Note	  	Amount of increase in
Principal Amount of this
Note	  	Principal amount of this
Note following such
decrease or increase	  	Notation Made by or on
Behalf of Trustee

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