Document:

Exhibit 4.7

 

EAGLE BANCORP, INC.

 

Issuer

 

and

 

 

Trustee

 

SUBORDINATED INDENTURE

 

Dated as of                               

 

Subordinated Debt Securities

 

 

TABLE OF CONTENTS

 

	
 
    	
 
    	
Page
    
	
 
    	
 
    	
 
    
	
ARTICLE ONE
    	
DEFINITIONS   AND OTHER PROVISIONS OF GENERAL APPLICATION
    	
 
    
	
 
    	
 
    	
 
    
	
Section 1.01
    	
Definitions
    	
1
    
	
Section 1.02
    	
Compliance   Certificates and Opinions
    	
6
    
	
Section 1.03
    	
Form of   Documents Delivered to Trustee
    	
6
    
	
Section 1.04
    	
Acts   of Holders
    	
7
    
	
Section 1.05
    	
Notices, Etc.,   to Trustee and Company
    	
8
    
	
Section 1.06
    	
Notice   to Holders; Waiver
    	
8
    
	
Section 1.07
    	
Language   of Notices
    	
8
    
	
Section 1.08
    	
Conflict   With Trust Indenture Act
    	
8
    
	
Section 1.09
    	
Effect   of Headings and Table of Contents
    	
8
    
	
Section 1.10
    	
Successors   and Assigns
    	
8
    
	
Section 1.11
    	
Separability   Clause
    	
9
    
	
Section 1.12
    	
Benefits   of Indenture
    	
9
    
	
Section 1.13
    	
Governing   Law
    	
9
    
	
Section 1.14
    	
Legal   Holidays
    	
9
    
	
Section 1.15
    	
When   Securities Disregarded
    	
9
    
	
Section 1.16
    	
USA   Patriot Act
    	
9
    
	
Section 1.17
    	
Force   Majeure
    	
9
    
	
Section 1.18
    	
Calculations
    	
9
    
	
 
    	
 
    	
 
    
	
ARTICLE TWO
    	
SECURITIES   FORMS
    	
 
    
	
 
    	
 
    	
 
    
	
Section 2.01
    	
Forms   Generally
    	
10
    
	
Section 2.02
    	
Form of   Trustee’s Certificate of Authentication
    	
10
    
	
Section 2.03
    	
Securities   in Global Form
    	
10
    
	
 
    	
 
    	
 
    
	
ARTICLE THREE
    	
THE   SECURITIES
    	
 
    
	
 
    	
 
    	
 
    
	
Section 3.01
    	
Amount   Unlimited; Issuable in Series
    	
11
    
	
Section 3.02
    	
Denominations
    	
13
    
	
Section 3.03
    	
[Intentionally   Omitted]
    	
13
    
	
Section 3.04
    	
Execution,   Authentication, Delivery and Dating
    	
13
    
	
Section 3.05
    	
Temporary   Securities
    	
13
    
	
Section 3.06
    	
Registration,   Transfer and Exchange
    	
14
    
	
Section 3.07
    	
Mutilated,   Destroyed, Lost and Stolen Securities
    	
15
    
	
Section 3.08
    	
Payment   of Interest; Interest Rights Preserved
    	
16
    
	
Section 3.09
    	
Persons   Deemed Owners
    	
16
    
	
Section 3.10
    	
Cancellations
    	
17
    
	
Section 3.11
    	
Computation   of Interest
    	
17
    
	
Section 3.12
    	
Cusip   Numbers
    	
17
    
	
 
    	
 
    	
 
    
	
ARTICLE FOUR
    	
SATISFACTION   AND DISCHARGE
    	
 
    
	
 
    	
 
    	
 
    
	
Section 4.01
    	
Satisfaction   and Discharge of Indenture
    	
17
    
	
Section 4.02
    	
Application   of Trust Money
    	
18
    
	
Section 4.03
    	
Satisfaction,   Discharge and Defeasance of Securities of Any Series
    	
18
    
	
 
    	
 
    	
 
    
	
ARTICLE FIVE
    	
REMEDIES
    	
 
    
	
 
    	
 
    	
 
    
	
Section 5.01
    	
Events   of Default
    	
19
    
	
Section 5.02
    	
Acceleration   of Maturity; Rescission and Annulment
    	
20
    

 

i

 

	
Section 5.03
    	
Collection   of Indebtedness and Suits For Enforcement by Trustee
    	
20
    
	
Section 5.04
    	
Trustee   May File Proofs of Claim
    	
21
    
	
Section 5.05
    	
Trustee   May Enforce Claims Without Possession of Securities
    	
21
    
	
Section 5.06
    	
Application   of Money or Property Collected
    	
22
    
	
Section 5.07
    	
Limitation   on Suits
    	
22
    
	
Section 5.08
    	
Unconditional   Right of Holders to Receive Principal, Premium, Interest and Additional Amounts
    	
22
    
	
Section 5.09
    	
Restoration   of Rights and Remedies
    	
23
    
	
Section 5.10
    	
Rights   and Remedies Cumulative
    	
23
    
	
Section 5.11
    	
Delay   or Omission Not Waiver
    	
23
    
	
Section 5.12
    	
Control   By Holders
    	
23
    
	
Section 5.13
    	
Waiver   of Past Defaults
    	
23
    
	
Section 5.14
    	
Waiver   of Stay or Extension Laws
    	
23
    
	
 
    	
 
    	
 
    
	
ARTICLE SIX
    	
THE   TRUSTEE
    	
 
    
	
 
    	
 
    	
 
    
	
Section 6.01
    	
Certain   Duties and Responsibilities
    	
24
    
	
Section 6.02
    	
Notice   of Defaults
    	
24
    
	
Section 6.03
    	
Certain   Rights of Trustee
    	
25
    
	
Section 6.04
    	
Not   Responsible For Recitals or Issuance of Securities
    	
26
    
	
Section 6.05
    	
May Hold   Securities
    	
26
    
	
Section 6.06
    	
Money   Held In Trust
    	
26
    
	
Section 6.07
    	
Compensation   and Reimbursement
    	
26
    
	
Section 6.08
    	
Corporate   Trustee Required; Eligibility; Conflicting Interests
    	
27
    
	
Section 6.09
    	
Resignation   and Removal; Appointment of Successor
    	
27
    
	
Section 6.10
    	
Acceptance   of Appointment By Successor
    	
28
    
	
Section 6.11
    	
Merger,   Conversion, Consolidation or Succession to Business
    	
29
    
	
Section 6.12
    	
Appointment   of Authenticating Agent
    	
29
    
	
 
    	
 
    	
 
    
	
ARTICLE SEVEN
    	
HOLDERS’   LISTS AND REPORTS BY TRUSTEE AND COMPANY
    	
 
    
	
 
    	
 
    	
 
    
	
Section 7.01
    	
Company   to Furnish Trustee Names and Addresses of Holders
    	
29
    
	
Section 7.02
    	
Preservation   of Information; Communications to Holders
    	
30
    
	
Section 7.03
    	
Reports   By Trustee
    	
30
    
	
Section 7.04
    	
Reports   By Company
    	
30
    
	
 
    	
 
    	
 
    
	
ARTICLE EIGHT
    	
CONSOLIDATION,   MERGER AND SALES
    	
 
    
	
 
    	
 
    	
 
    
	
Section 8.01
    	
Company   May Consolidate Etc., Only on Certain Terms
    	
30
    
	
Section 8.02
    	
Successor   Corporation Substituted For Company
    	
31
    
	
 
    	
 
    	
 
    
	
ARTICLE NINE
    	
SUPPLEMENTAL   INDENTURES
    	
 
    
	
 
    	
 
    	
 
    
	
Section 9.01
    	
Supplemental   Indentures Without Consent of Holders
    	
31
    
	
Section 9.02
    	
Supplemental   Indentures With Consent of Holders
    	
32
    
	
Section 9.03
    	
Execution   of Supplemental Indentures
    	
33
    
	
Section 9.04
    	
Effect   of Supplemental Indentures
    	
33
    
	
Section 9.05
    	
Conformity   With Trust Indenture Act
    	
33
    
	
Section 9.06
    	
Reference   in Securities to Supplemental Indentures
    	
33
    
	
Section 9.07
    	
Subordination Unimpaired
    	
33
    
	
 
    	
 
    	
 
    
	
ARTICLE TEN
    	
COVENANTS
    	
 
    
	
 
    	
 
    	
 
    
	
Section 10.01
    	
Payment   of Principal, Premium, If Any, and Interest
    	
34
    
	
Section 10.02
    	
Maintenance   of Office or Agency
    	
34
    
	
Section 10.03
    	
Money   For Securities Payments to Be Held in Trust
    	
34
    

 

ii

 

	
Section 10.04
    	
Additional   Amounts
    	
35
    
	
Section 10.05
    	
Statements   As To Compliance; Notice of Certain Defaults
    	
36
    
	
Section 10.06
    	
Payment   of Taxes and Other Claims
    	
36
    
	
Section 10.07
    	
Corporate   Existence
    	
36
    
	
Section 10.08
    	
Waiver   of Certain Covenants
    	
36
    
	
 
    	
 
    	
 
    
	
ARTICLE ELEVEN
    	
REDEMPTION   OF SECURITIES
    	
 
    
	
 
    	
 
    	
 
    
	
Section 11.01
    	
Applicability   of Article
    	
36
    
	
Section 11.02
    	
Election   To Redeem; Notice To Trustee
    	
36
    
	
Section 11.03
    	
Selection   By Trustee of Securities To Be Redeemed
    	
37
    
	
Section 11.04
    	
Notice   of Redemption
    	
37
    
	
Section 11.05
    	
Deposit   of Redemption Price
    	
38
    
	
Section 11.06
    	
Securities   Payable on Redemption Date
    	
38
    
	
Section 11.07
    	
Securities   Redeemed in Part
    	
38
    
	
Section 11.08
    	
Conversion   Arrangements on Call for Redemption
    	
38
    
	
 
    	
 
    	
 
    
	
ARTICLE TWELVE
    	
SINKING   FUNDS
    	
 
    
	
 
    	
 
    	
 
    
	
Section 12.01
    	
Applicability   of Article
    	
39
    
	
Section 12.02
    	
Satisfaction   of Sinking Fund Payments With Securities
    	
39
    
	
Section 12.03
    	
Redemption   of Securities For Sinking Fund
    	
39
    
	
 
    	
 
    	
 
    
	
ARTICLE THIRTEEN
    	
SUBORDINATION
    	
 
    
	
 
    	
 
    	
 
    
	
Section 13.01
    	
Securities Subordinated To Senior Indebtedness
    	
40
    
	
Section 13.02
    	
Subrogation
    	
41
    
	
Section 13.03
    	
Obligation of Company Unconditional
    	
41
    
	
Section 13.04
    	
Payment on Securities Permitted
    	
42
    
	
Section 13.05
    	
Effectuation of Subordination by Trustee
    	
42
    
	
Section 13.06
    	
Knowledge of Trustee
    	
42
    
	
Section 13.07
    	
Trustee’s Relation To Senior Indebtedness
    	
42
    
	
Section 13.08
    	
Rights of Holders of Senior Indebtedness Not   Impaired
    	
42
    

 

iii

 

EAGLE BANCORP, INC.

 

Certain Sections of this Indenture relating to Sections 310 through 318, inclusive, of the Trust Indenture Act of 1939:

 

	
TRUST INDENTURE ACT SECTION
    	
 
    	
INDENTURE SECTION
    
	
§310(a)(1),   (2) and (5)
    	
 
    	
6.07
    
	
 (a)(3)
    	
 
    	
Not   Applicable
    
	
 (a)(4)
    	
 
    	
Not   Applicable
    
	
 (b)
    	
 
    	
6.07
    
	
§311(a)
    	
 
    	
6.12
    
	
 (b)
    	
 
    	
6.12
    
	
§312(a)
    	
 
    	
7.01,   7.02(a)
    
	
 (b)
    	
 
    	
7.02(b)
    
	
 (c)
    	
 
    	
7.03
    
	
§313(a)
    	
 
    	
1.08
    
	
 (b)
    	
 
    	
7.03
    
	
 (c)
    	
 
    	
7.03
    
	
 (d)
    	
 
    	
7.04
    
	
§314(a)(1),   (2) and (3)
    	
 
    	
7.04,   7.03
    
	
 (a)(4)
    	
 
    	
7.04
    
	
 (b)
    	
 
    	
Not   Applicable
    
	
 (c)(1)
    	
 
    	
1.02
    
	
 (c)(2)
    	
 
    	
1.02
    
	
 (c)(3)
    	
 
    	
Not   Applicable
    
	
 (d)
    	
 
    	
Not   Applicable
    
	
 (e)
    	
 
    	
1.02
    
	
§315(a)
    	
 
    	
6.01
    
	
 (b)
    	
 
    	
6.02
    
	
 (c)
    	
 
    	
6.01
    
	
 (d)
    	
 
    	
6.01
    
	
 (e)
    	
 
    	
6.06
    
	
§316(a)
    	
 
    	
5.12,   5.13
    
	
 (b)
    	
 
    	
5.08
    
	
 (c)
    	
 
    	
1.04
    
	
§317(a)
    	
 
    	
5.03,   5.04
    
	
 (b)
    	
 
    	
10.03
    
	
§318(a)
    	
 
    	
1.08
    

 

iv

 

SUBORDINATED INDENTURE, dated as of                 , 2015 (the “Indenture”), is made by and between EAGLE BANCORP, INC., a corporation duly organized and existing under the laws of the State of Maryland (the “Company”), having its principal office at 7830 Old Georgetown Road, Bethesda, Maryland 20814, and                                , having an office at                             , not in its individual capacity but solely as Trustee (the “Trustee”).

 

RECITALS

 

The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured subordinated debentures, notes or other evidences of indebtedness (the “Securities”), unlimited as to principal amount, to bear such rates of interest, to mature at such time or times, to be issued in one or more series and to have such other provisions as shall be fixed as hereinafter provided.

 

The Company has duly authorized the execution and delivery of this Indenture and all things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done.

 

This Indenture is subject to the provisions of the Trust Indenture Act of 1939, as amended, that are required to be part of this Indenture and shall, to the extent applicable, be governed by such provisions.

 

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or of series thereof, as follows:

 

ARTICLE ONE

 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

 

Section 1.01. Definitions

 

For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires:

 

(1) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular;

 

(2) all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings assigned to them therein;

 

(3) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles as are generally accepted at the date of such computation;

 

(4) the words “herein”, “hereof”, “hereto” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision;

 

(5) the word “or” is not exclusive;

 

(6) all words in the singular include the plural and all words in the plural include the singular; and

 

(7) the word “including” means “including without limitations.”

 

Certain terms used principally in certain Articles hereof are defined in those Articles.

 

“Act”, when used with respect to any Holders, has the meaning specified in Section 1.04.

 

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

 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control”, when used with respect to any specified Person means the power to direct the management and policies of

 

1

 

such Person, directly or indirectly, whether through the ownership of voting Securities, by contract or otherwise; and the terms “controlling” and “controlled” have the meanings correlative to the foregoing.

 

“Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 6.12 to act on behalf of the Trustee to authenticate Securities of one or more series.

 

“Bank” means (i) any institution organized under the laws of the United States, any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa or the Virgin Islands which (a) accepts deposits that the depositor has a legal right to withdraw on demand, and (b) engages in the business of making commercial loans and (ii) any trust company organized under any of the foregoing laws.

 

“Board Of Directors” means the board of directors of the Company or any committee of that board duly authorized to act for the Company hereunder.

 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors, or a duly authorized committee thereof, and to be in full force and effect on the date of such certification, and delivered to the Trustee.

 

“Business Day”, except as may otherwise be provided herein or in any Security, means any day, other than a Saturday or a Sunday, that is neither a Legal Holiday nor a day on which banking institutions in the City of New York are authorized or required by law, regulation or executive order to close.

 

“Called Securities” means any Convertible Security that is called for redemption by the Company.

 

“Capital Stock” means, as to shares of a particular corporation, outstanding shares of stock of any class whether now or hereafter authorized, irrespective of whether such class shall be limited to a fixed sum or percentage in respect of the rights of the holders thereof to participate in dividends and in the distribution of assets upon the voluntary liquidation, dissolution or winding up of such corporation.

 

“Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the Securities Exchange Act of 1934 or, if at any time after the execution of this Indenture such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties at such time.

 

“Common Stock” means all shares now or hereafter authorized of the class of common stock of the Company presently authorized and stock of any other class into which such shares may hereafter have been changed.

 

“Company” means the Person named as the “Company” in the first paragraph of this instrument until a successor corporation shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor corporation, and any other obligor upon the Securities.

 

“Company Request” and “Company Order” mean a written request or order, as the case may be, signed in the name of the Company by the Chairman of the Board of Directors, the Chief Executive Officer, the Chief Operating Officer, the President, an Executive Vice President, the Chief Financial Officer, the Treasurer or the Secretary of the Company, and delivered to the Trustee.

 

“Convertible Security” or “Convertible Securities” means any Security or Securities, as the case may be, which are by their terms convertible into Common Stock, Preferred Stock (which may be represented by depositary shares), other indebtedness of the Company or another obligor, or warrants for Common Stock, Preferred Stock or indebtedness or other securities of any kind of the Company or any other obligor, and the terms and conditions upon which such conversion or exchange shall be effected, including the initial conversion or exchange price or rate, the conversion or exchange period, the manner in which such conversion or exchange shall be effected, applicable adjustments, if any, and any other provision in addition to or in lieu of those described herein.

 

“Corporate Trust Office” means, the office of the Trustee, at which at any particular time its corporate trust business regarding this Indenture shall be administered, which office at the date of original execution of this Indenture is located at                         , Attention:                            .

 

“Corporation” includes corporations, associations, companies and business trusts.

 

“Defaulted Interest” has the meaning specified in Section 3.08.

 

2

 

“Dollars” or “$” means a dollar or other equivalent unit in the currency of the United States, except as may otherwise be provided herein or in any Security.

 

“Event of Default” has the meaning specified in Section 5.01.

 

“Holder”, in the case of any Security, means the Person in whose name such Security is registered in the Security Register.

 

“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, and with respect to any Security shall include the terms of such Securities established as contemplated by Section 3.01; provided, however, that, if at any time more than one Person is acting as Trustee under this instrument, “Indenture” shall mean, with respect to any one or more series of Securities for which such Person is Trustee, this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of the or those particular series of Securities for which such Person is Trustee established as contemplated by Section 3.01, exclusive, however, of any provisions or terms which relate solely to other series of Securities for which such Person is Trustee, regardless of when such terms or provisions were adopted, and exclusive of any provisions or terms adopted by means of one or more indentures supplemental hereto executed and delivered after such Person had become such Trustee but to which such Person, as such Trustee, was not a party.

 

“Independent Public Accountants” means accountants or a firm of accountants that are independent public accountants with respect to the Company within the meaning of the Securities Act of 1933, as amended, and the rules and regulations promulgated by the Commission thereunder who may be the independent public accountants regularly retained by the Company or who may be other independent public accountants. Such accountants or firm shall be entitled to rely upon any Opinion of Counsel as to the interpretation of any legal matters relating to the Indenture or certificates required to be provided hereunder.

 

“Interest”, with respect to any Original Issue Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity and, with respect to any Security which provides for the payment of Additional Amounts pursuant to Section 10.04, includes such Additional Amounts.

 

“Interest Payment Date”, when used with respect to any installment of interest on a Security of a particular series, means the date specified in such Security or in a Board Resolution or in an indenture supplemental hereto with respect to such series as the fixed date on which an installment of interest with respect to Securities of that series is due and payable.

 

“Legal Holiday”, except as otherwise may be provided herein or in any Securities, with respect to any Place of Payment or other location, means a Saturday, a Sunday or a day on which banking institutions or trust companies in such Place of Payment or other location are not authorized or obligated to be open.

 

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

 

“Officer’s Certificate” means a certificate signed by the Chairman of the Board of Directors, the Chief Executive Officer, the Chief Operating Officer, the President, an Executive Vice President, the Chief Financial Officer, the Treasurer, or the Secretary of the Company and delivered to the Trustee.

 

“Opinion of Counsel,” except as otherwise provided herein or in any Security, means a written Opinion of Counsel from legal counsel who is reasonably acceptable to the Trustee, who may be an employee of or counsel for the Company or other counsel.

 

“Original Issue Discount Security” means a Security issued pursuant to this Indenture which provides for declaration of an amount less than the principal thereof to be due and payable upon acceleration pursuant to Section 5.02.

 

“Outstanding”, with respect to Securities, means, as of the date of determination, all Securities theretofore authenticated and delivered under this Indenture, except:

 

3

 

(i) Securities theretofore cancelled by the Trustee or the Security Registrar or delivered to the Trustee or the Security Registrar for cancellation;

 

(ii) Securities, or portions thereof for whose payment or redemption money or repayment at the option of the Holder, in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities, provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture;

 

(iii) Securities, except to the extent provided in Section 4.03, with respect to which the Company has effected defeasance and/or covenant defeasance pursuant to Section 4.03 hereof; and

 

(iv) Securities which have been paid pursuant to Section 3.07 or in exchange for or in lieu of which other Securities have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in whose hands such Securities are valid obligations of the Company;

 

provided, however, that in determining whether the Holders of the requisite principal amount of Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders of Securities for quorum purposes and for purposes of making the calculations required by Section 313 of the Trust Indenture Act, (i) the principal amount of an Original Issue Discount Security that may be counted in making such determination or calculation and that shall be deemed to be outstanding for such purposes shall be equal to the amount of the principal thereof that pursuant to the terms of such Original Issue Discount Security would be declared (or shall have been declared to be) due and payable upon a declaration of acceleration pursuant to Section 5.02 at the time of such determination or calculation, and (ii) the principal amount of any Security denominated other than in Dollars that may be counted in making such determination or calculation and that shall be deemed outstanding for such purpose shall be equal to the Dollar equivalent, determined by the Company as of the date such Security is originally issued by the Company, of the principal amount (or, in the case of an Original Issue Discount Security, the Dollar equivalent as of such date of original issuance of the amount determined as provided in clause (i) above) of such Security, and (iii) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor, shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making any such calculation or relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor.

 

“Paying Agent” means any Person authorized by the Company to deliver payment of the principal of (and premium, if any) or interest on any Security on behalf of the Company.

 

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

 

“Place of Payment”, with respect to any Security, means the place or places where the principal of (and premium, if any) and interest on the Securities of that series are payable as specified in or pursuant to Section 3.01(9) or Section 10.02.

 

“Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 3.07 in exchange for or in lieu of a lost, destroyed, mutilated or stolen Security shall be deemed to evidence the same debt as the lost, destroyed, mutilated or stolen Security.

 

“Preferred Stock” means shares of a class or series now or hereafter authorized of the class of preferred stock of the Company presently authorized and stock of any other class into which such shares may hereafter have been changed.

 

“Redemption Date”, with respect to any Security or portion thereof to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture.

 

4

 

“Redemption Price”, with respect to any Security or portion thereof to be redeemed, means the price at which it is to be redeemed as determined by or pursuant to the provisions of this Indenture.

 

“Regular Record Date” for the interest payable on any Security on any Interest Payment Date therefor means the date, if any, specified in such Security as the “Regular Record Date”.

 

“Responsible Officer” when used with respect to the Trustee means any officer within the corporate trust department of the Trustee, including the vice president, any assistant vice president, assistant treasurer, or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture.

 

“Security” or “Securities” means any Security or Securities, as the case may be, authenticated and delivered under this Indenture; provided, however, that if at any time there is more than one Person acting as Trustee under this Indenture, “Securities” with respect to the Indenture as to which such Person is Trustee shall have the meaning stated in the first recital of this Indenture and shall more particularly mean Securities authenticated and delivered under this Indenture, exclusive, however, of Securities of any series as to which such Person is not Trustee.

 

“Security Register” and “Security Registrar” have the respective meanings specified in Section 3.06.

 

“Senior Indebtedness”, with respect to any series of Securities issued hereunder, shall have the meaning ascribed to such term in the Board Resolutions or supplemental indenture establishing such series in accordance with Section 3.01 hereof, and shall include: (i) the principal and any premium or interest for money borrowed or purchased by the Company; (ii) the principal and any premium or interest for money borrowed or purchased by another Person and guaranteed by the Company; (iii) any deferred obligation for the payment of the purchase price of property or assets evidenced by a note or similar instrument or agreement; (iv) an obligation arising from direct credit substitutes; and (v) any obligation associated with derivative products such as interest and foreign exchange rate contracts, commodity contracts and similar arrangements; in each case, whether outstanding on the date this Subordinated Indenture becomes effective, or created, assumed or incurred after that date. Senior Indebtedness excludes any indebtedness that: (a) expressly states that it is junior to, or ranks equally in right of payment with, the Securities or the Securities of any series; or (b) is identified as junior to, or equal in right of payment with, the Securities or the Securities of any series in any Board Resolution or in any supplemental indenture.

 

“Special Record Date” for the payment of any Defaulted Interest on any Security means a date fixed by the Company pursuant to Section 3.08.

 

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

 

“Subsidiary” means any corporation of which at the time of determination the Company and/or one or more Subsidiaries owns or controls directly or indirectly more than 50% of the shares of Voting Stock.

 

“Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of which this instrument was executed, except as provided in Section 9.05.

 

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

 

“United States”, except as otherwise provided herein or in any Security, means the United States of America (including the States and the District of Columbia), its territories and possessions and other areas subject to its jurisdiction.

 

“United States Alien”, except as otherwise provided herein or in any Security, means any Person who, for United States Federal income tax purposes, is a foreign corporation, a non-resident alien individual, a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which is, for

 

5

 

United States Federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien fiduciary of a foreign estate or trust.

 

“U.S. Depository” or “Depository” means, with respect to any Security issuable or issued in the form of one or more global Securities, the Person designated as U.S. Depository by the Company pursuant to Section 3.01, which must be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and, if so provided pursuant to Section 3.01 with respect to any Security, any successor to such Person. If at any time there is more than one such Person, “U.S. Depository” or “Depository” shall mean, with respect to any Securities, the qualifying entity which has been appointed with respect to such Securities.

 

“Vice President”, with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title “Vice President”.

 

“Voting Stock” means stock of a corporation of the class or classes having general voting power under ordinary circumstances to elect at least a majority of the board of directors, managers or trustees of such corporation provided that, for the purposes hereof, stock which carries only the right to vote conditionally on the happening of an event shall not be considered voting stock whether or not such event shall have happened.

 

Section 1.02. Compliance Certificates and Opinions.

 

Upon any application or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that, in the Opinion of such counsel, all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents or any of them is specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished.

 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture and in any applicable Security (except Section 10.05) shall include:

 

(1) a statement that each individual signing such certificate or opinion has read such condition or covenant and the definitions herein and in any applicable Security relating thereto;

 

(2) 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;

 

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

 

(4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with.

 

Section 1.03. Form of Documents Delivered to Trustee.

 

In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents.

 

Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous.

 

6

 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture or any Security, they may, but need not, be consolidated and form one instrument.

 

Section 1.04. Acts of Holders.

 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section 315 of the Trust Indenture Act) conclusive in favor of the Trustee and the Company and any agent of the Trustee or the Company, if made in the manner provided in this Section.

 

Without limiting the generality of this Section 1.04, unless otherwise established in or pursuant to a Board Resolution or set forth or determined in an Officer’s Certificate, or established in one or more indentures supplemental hereto, pursuant to Section 3.01, a Holder, including a U.S. Depository that is a Holder of a global Security, may make, give or take, by a proxy, or proxies, duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and a U.S. Depository that is a Holder of a global Security may provide its proxy or proxies to the beneficial owners of interests in any such global Security through such U.S. Depository’s standing instructions and customary practices.

 

Other than in those situations set forth in 1.04(d), the Trustee shall fix a record date, which shall be not more than 30 days prior to the first solicitation of such Holders, for the purpose of determining the Persons who are beneficial owners of interest in any permanent global Security held by a U.S. Depository entitled under the procedures of such U.S. Depository to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give or take such request, demand, authorization, direction, notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other action shall be valid or effective if made, given or taken more than 90 days after such record date.

 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved in any reasonable manner which the Trustee deems sufficient and in accordance with such reasonable rules as the Trustee may determine; and the Trustee may in any instance require further proof with respect to any of the matters referred to in this Section.

 

(c) The ownership, principal amount and serial numbers of Securities held by any Person, and the date of the commencement and the date of termination of holding the same, shall be proved by the Security Register.

 

(d) If the Company shall solicit from the Holders of any Securities any request, demand, authorization, direction, notice, consent, waiver or other Act, the Company may at its option, by Board Resolutions, fix in advance a record date, which shall be not more than 30 days prior to the first solicitation of such Holders, for the determination of Holders of Securities entitled to give such request, demand, authorization, direction, notice, consent, waiver or other Act, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of Securities of record at the close of business on such record date shall be deemed to be Holders for the purposes of determining whether Holders of the requisite proportion of Outstanding Securities have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities shall be computed as of such record date; provided no such authorization, agreement or consent of the Holders of Securities shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not later than six months after the record date.

 

(e) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the

 

7

 

registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done or suffered to be done by the Trustee, any Security Registrar, any Paying Agent or the Company in reliance thereon, whether or not notation of such action is made upon such Security.

 

Section 1.05. Notices, Etc., to Trustee and Company.

 

Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with,

 

(1) the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with a Responsible Officer of the Trustee at its Corporate Trust Office, or

 

(2) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to the attention of its Treasurer at the address of its principal office specified in the first paragraph of this Indenture or at any other address previously furnished in writing to a Responsible Officer of the Trustee by the Company.

 

Section 1.06. Notice to Holders; Waiver.

 

Except as otherwise expressly provided herein or in any Security, where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given to Holders if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at his address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such Notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. Any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly given or provided. In the case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder.

 

Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver.

 

Notwithstanding any other provision herein, where this Indenture provides for notice of any event to any Holder of an interest in a Global Security (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depository for such Security (or its designee), according to the applicable procedures of such Depository, if any, prescribed for the giving of such notice.

 

Section 1.07. Language of Notices.

 

Any request, demand, authorization, direction, notice, consent, election or waiver required or permitted under this Indenture shall be in the English language, except that, if the Company so elects, any published notice may be in an official language of the country of publication.

 

Section 1.08. Conflict With Trust Indenture Act.

 

If any provision hereof limits, qualifies or conflicts with the duties imposed pursuant to Section 318(c) of the Trust Indenture Act, such imposed duties shall control.

 

Section 1.09. Effect of Headings and Table of Contents.

 

The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof.

 

Section 1.10. Successors and Assigns.

 

All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not.

 

8

 

Section 1.11. Separability Clause.

 

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

 

Section 1.12. Benefits of Indenture.

 

Nothing in this Indenture or any Security express or implied, shall give to any Person, other than the parties hereto, any Security Registrar, any Paying Agent and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture.

 

Section 1.13. Governing Law.

 

This Indenture and the Securities shall be governed by and construed in accordance with the laws of the State of Maryland, applicable to agreements made or instruments entered into and, in each case, performed in said state; provided, however, that the rights, immunities, duties and liabilities of the Trustee will be governed by New York law.

 

Section 1.14. Legal Holidays.

 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security, or the last day on which a Holder has the right to convert these Securities, is not a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or any Security other than a provision in any Security that specifically states that such provision shall apply in lieu of this Section) payment of interest or any Additional Amounts or principal (and premium, if any) or conversion of the Securities need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, or the last such day of conversion, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be.

 

Section 1.15. When Securities Disregarded.

 

In determining whether the Holders of the required aggregate principal amount of Securities have concurred in any direction, waiver or consent, Securities owned by the Company or any Affiliate of the Company shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Also, subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination.

 

Section 1.16. USA Patriot Act.

 

The parties hereto acknowledge that in accordance with Section 326 of the USA Patriot Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account. The parties to this Indenture agree that they shall provide the Trustee with such information as they may request in order to satisfy the requirements of the USA Patriot Act.

 

Section 1.17 Force Majeure

 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

 

Secton 1.18 Calculations.

 

Except as otherwise provided herein, the Company will be responsible for making all calculations called for under this Indenture or the Notes. The Company will make all such calculations in good faith and, absent manifest error, its calculations will be final and binding on the Holders. The Company will provide a schedule of its calculations to the Trustee and the Trustee is entitled to rely conclusively upon the accuracy of such calculations 

 

9

 

without independent verification. The Trustee will deliver a copy of such schedule to any Holder upon the written request of such Holder.

 

ARTICLE TWO

 

SECURITIES FORMS

 

Section 2.01. Forms Generally.

 

Each Security and temporary global Security issued pursuant to this Indenture shall be in the form established by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, shall have appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture or any indenture supplemental hereto and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may, consistently herewith, be determined by the officers executing such Security, as evidenced by their execution of such Security.

 

Definitive Securities shall be printed, lithographed or engraved or produced by any combination of these methods on a steel engraved border or steel engraved borders or may be produced in any other manner, all as determined by the officers of the Company executing such Securities, as evidenced by their execution of such Securities.

 

Section 2.02. Form of Trustee’s Certificate of Authentication.

 

Subject to Section 6.12, the Trustee’s certificate of authentication shall be in substantially the following form:

 

This certificate represents Securities of the series designated therein referred to in the within-mentioned Indenture.

 

	
Dated:   [                              ],   20[    ]
    	
                                  ,
    
	
 
    	
not   in its individual capacity but solely as Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Authorized Signatory
    

 

Section 2.03. Securities in Global Form.

 

If Securities of a series are issuable in global form, any such Security may provide that it shall represent the aggregate amount of Outstanding Securities of such series from time to time endorsed thereon and may also provide that the aggregate amount of Outstanding Securities represented thereby may from time to time be increased or reduced to reflect exchanges. Any endorsement of any Security in global form to reflect the amount, or any increase or decrease in the amount, or changes in the rights of Holders, of Outstanding Securities represented thereby shall be made in such manner and by such Person or Persons as shall be specified therein or in the Company Order to be delivered pursuant to Section 3.04 or 3.05 with respect thereto. Subject to the provisions of Section 3.04 and, if applicable, Section 3.05, the Trustee shall deliver and redeliver any Security in permanent global form in the manner and upon instructions given by the Person or Persons specified therein or in the applicable Company Order. If a Company Order pursuant to Section 3.04 or 3.05 has been, or simultaneously is, delivered, any instructions by the Company with respect to a Security in global form shall be in writing but need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel.

 

The provisions of the immediately preceding sentence shall apply to any Security represented by a Security in global form if such Security was never issued and sold by the Company and the Company delivers to the Trustee the Security in global form together with written instructions (which need not comply with Section 1.02 and need not be accompanied by an Opinion of Counsel) with regard to the reduction in the principal amount of Securities represented thereby.

 

Notwithstanding the provisions of Section 3.08, payment of principal of and any premium and interest on any Security in permanent global form shall be made to the Person or Persons specified therein.

 

10

 

Notwithstanding the provisions of Section 3.09, the Company, the Trustee and any agent of the Company and the Trustee shall treat as the Holder of such principal amount of Outstanding Securities represented by a permanent global Security, the Holder of such permanent global Security in registered form.

 

ARTICLE THREE

 

THE SECURITIES

 

Section 3.01. Amount Unlimited; Issuable in Series.

 

The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is unlimited. The Securities shall be subordinated in right of payment to Senior Indebtedness as provided in Article Thirteen.

 

The Securities may be issued in one or more series. There shall be established in or pursuant to one or more Board Resolutions, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto,

 

(1) the title of the Securities and the series in which such Securities shall be included;

 

(2) any limit upon the aggregate principal amount of the Securities of such title or the Securities of such 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 Section 3.05, 3.06, 3.07, 9.06 or 11.07 or the terms of such Securities);

 

(3) whether any Securities of the series are to be issuable initially or otherwise in global form and, if so, (i) whether beneficial owners of interests in any such global Security may exchange such interest for Securities of such series and of like tenor of any authorized form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner specified in Section 3.06, and (ii) the name of the depository or the U.S. Depository, as the case may be, with respect to any global Security;

 

(4) the date as of which any global Security representing Outstanding Securities of the series shall be dated if other than the date of original issuance of the first Security of the series to be issued;

 

(5) the terms, if any, upon which the Securities of any series may be convertible into or exchanged for Common Stock, Preferred Stock (which may be represented by depositary shares), other indebtedness of the Company or another obligor, or warrants for Common Stock, Preferred Stock or indebtedness or other securities of any kind of the Company or any other obligor, and the terms and conditions upon which such conversion or exchange shall be effected, including the initial conversion or exchange price or rate, the conversion or exchange period, the manner in which such conversion or exchange shall be effected, applicable adjustments, if any, and any other provision in addition to or in lieu of those described herein;

 

(6) the date or dates, or the method, if any, by which such date or dates shall be determined, on which the principal of such Securities is payable;

 

(7) the rate or rates at which such Securities shall bear interest, if any, or the method, if any, by which such rate or rates are to be determined, the date or dates, if any, from which such interest shall accrue or the method, if any, by which such date or dates are to be determined, the Interest Payment Dates, if any, on which such interest shall be payable and the Regular Record Date, if any, for the interest payable on Securities on any Interest Payment Date, whether and under what circumstances Additional Amounts on such Securities or any of them shall be payable, and the basis upon which interest shall be calculated if other than that of a 360-day year of twelve 30-day months;

 

(8) the place or places, if any, where the principal of (and premium, if any) and interest (including Additional Amounts), if any, on such Securities shall be payable, any Securities of the series may be surrendered for registration of transfer, Securities of the series may be surrendered for exchange or conversion and notices or demands to or upon the Company in respect of the Securities of the series and this Indenture may be served;

 

(9) whether and the terms and conditions upon which the Securities of the series or any of them are to be redeemable at the option of the Company and, if so, the period or periods within which, the price or prices at which and the other terms and conditions upon which such Securities may be redeemed, in whole or in part, at the option of the Company;

 

11

 

(10) whether any terms and conditions upon which the Company is obligated to redeem, or purchase Securities of the series or any of them pursuant to any sinking fund or at the option of any Holder thereof and, if so, the period or periods within which, the price or prices at which and the other terms and conditions upon which such Securities shall be redeemed or purchased, in whole or in part, pursuant to such obligation, and any provisions for the remarketing of the Securities of the series so redeemed or purchased;

 

(11) the denominations in which Securities of the series, if any, shall be issuable if other than denominations of $1,000 and any integral multiple thereof;

 

(12) if other than the principal amount thereof, the portion of the principal amount of the Securities of the series of any of them which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02 or the method by which such portion is to be determined;

 

(13) [Intentionally Omitted]

 

(14) if the principal of (and premium, if any) or interest, if any, on or any Additional Amounts in respect of the Securities of the series or any of them are to be payable, at the election of the Company or a Holder thereof, in a coin or currency, composite currencies or currency unit or units other than that in which the Securities of the series or any of them are stated to be payable, the period or periods within which, and the terms and conditions upon which, such election may be made;

 

(15) whether the amount of payments of principal of (and premium, if any) or interest (including Additional Amounts), if any, on the Securities of the series may be determined with reference to an index, formula or other method (which index, formula or method may be based, without limitation, on one or more currencies, currency units, composite currencies, commodities, equity indices or other indices), and, if so, the terms and conditions upon which and the manner in which such amounts shall be determined and paid or payable;

 

(16) whether the principal of (and premium, if any) or interest (including Additional Amounts), if any, on the Securities of the series are to be payable, at the election of the Company or any Holder thereof or otherwise, in a currency or currencies, currency unit or units or composite currency or currencies other than that in which such Securities or any of them are denominated or stated to be payable, the period or periods within which, and the other terms and conditions upon which, such election, if any, may be made, and the time and manner of determining the exchange rate between the currency or currencies, currency unit or units or composite currency or currencies in which such Securities or any of them are denominated or stated to be payable and the currency or currencies, currency unit or units or composite currency or currencies in which such Securities or any of them are to be so payable;

 

(17) any deletions from, modifications of or additions to the Events of Default or covenants of the Company with respect to the Securities of the series or any of them, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth herein;

 

(18) the applicability, if any, of Section 4.03 to the Securities of the series and any provisions in modification of, in addition to or in lieu of any of the provisions of Section 4.03;

 

(19) the terms pursuant to which the Securities of such series will be made subordinate in right of payment to Senior Indebtedness and the definition of such Senior Indebtedness with respect to such series; and, such Board Resolution, Officer’s Certificate or supplemental indenture, as the case may be, establishing the terms of such series shall expressly state which articles, sections or other provisions thereof constitute the “Subordination Provisions” with respect to the Securities of such series;

 

(20) if the Securities of the series or any of them are to be issued upon the exercise of warrants, the time, manner and place for such Securities to be authenticated and delivered;

 

(21) if the Securities of the series are to be issuable in definitive form (whether upon original issue or upon exchange of a temporary Security of such series) only upon receipt of certain certificates or other documents or satisfaction of other conditions, then the form and terms of such certificates, documents or conditions;

 

(22) if there is more than one Trustee, the identity of the Trustee and, if not the Trustee, the identity of each Security Registrar, Paying Agent and/or Authenticating Agent with respect to the Securities of the series;

 

(23) whether any of the Securities of a series shall be issued as Original Issue Discount Securities; and

 

(24) any other terms of the Securities of the series or any of them.

 

12

 

All Securities of any one series shall be substantially identical except as to denomination and the rate or rates of interest, if any, and Stated Maturity, the date from which interest, if any, shall accrue and except as may otherwise be provided by the Company in or pursuant to one or more Board Resolutions and set forth in such Officer’s Certificate or in any indenture or indentures supplemental hereto pertaining to such series of Securities. All Securities of any one series need not be issued at the same time and, unless otherwise so provided by the Company, a series may be reopened for issuances of additional Securities of such series.

 

If any of the terms of the Securities of any series were established by action taken by or pursuant to a Board Resolution, the Board Resolution shall be delivered to the Trustee at or prior to the delivery of the Officer’s Certificate setting forth the terms of such series.

 

Section 3.02. Denominations.

 

Unless otherwise established with respect to any Securities pursuant to Section 3.01, the Securities of each series denominated in Dollars shall be issuable in registered form without coupons in denominations of $1,000 and any integral multiple thereof. Securities not denominated in Dollars shall be issuable in such denominations as are established with respect to such Securities pursuant to Section 3.01.

 

Section 3.03. [Intentionally Omitted]

 

Section 3.04. Execution, Authentication, Delivery and Dating.

 

The Securities shall be executed on behalf of the Company by its Chairman of the Board, its President, its Chief Operating Officer or one of its Executive Vice Presidents and attested by its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual or facsimile.

 

Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities.

 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series, executed by the Company, to the Trustee for authentication, and, provided that the Board Resolution or Resolutions and Officer’s Certificate or supplemental indenture or indentures with respect to such Securities referred to in Section 3.01 and a Company Order for the authentication and delivery of such Securities, has been delivered to the Trustee, the Trustee in accordance with the Company Order and subject to the provisions hereof of such Securities shall authenticate and deliver such Securities.

 

The Trustee shall not be required to authenticate or to cause an Authenticating Agent to authenticate any Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties, liabilities or immunities under the Securities and this Indenture or otherwise in a manner which is not acceptable to the Trustee or if the Trustee, being advised by counsel, determines that such action may not lawfully be taken or if the Trustee in good faith shall determine that such action would expose the Trustee to personal liability to existing Holders.

 

Each Security shall be dated the date of its authentication.

 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Security a certificate of authentication substantially in the form provided for in Section 2.02 or 6.12 executed by or on behalf of the Trustee by the manual signature of one of its authorized officers, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder.

 

Section 3.05. Temporary Securities.

 

Pending the preparation of definitive Securities of any series, the Company may execute and deliver to the Trustee and, upon Company Order the Trustee shall authenticate and deliver, in the manner provided in Section 3.04, temporary Securities of such series which are printed, lithographed, typewritten, photocopied or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued, in registered form without coupons and with such appropriate insertions, omissions, substitutions and other variations as the officers of the Company executing such Securities may determine, as conclusively evidenced

 

13

 

by their execution of such Securities. In the case of Securities of any series, such temporary Securities may be in global form.

 

Except in the case of temporary Securities in global form, which shall be exchanged in accordance with the provisions thereof, if temporary Securities of any series are issued, the Company shall cause definitive Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities of any series, the temporary Securities of such series, if any, shall be exchangeable upon request for definitive Securities of such series containing identical terms and provisions upon surrender of the temporary Securities of such series at an office or agency of the Company maintained for such purpose pursuant to Section 10.02, without charge to any Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of authorized denominations of the same series containing identical terms and provisions. Unless otherwise specified as contemplated by Section 3.01 with respect to a temporary global Security, until so exchanged the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series.

 

Section 3.06. Registration, Transfer and Exchange.

 

With respect to the Securities of each series, if any, the Company shall cause to be kept, at an office or agency of the Company maintained pursuant to Section 10.02, a register (each such register being herein sometimes referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of the Securities of each series and of transfers of the Securities of such series. In the event that the Trustee shall not be the Security Registrar, it shall have the right to examine the Security Register at all reasonable times.                                      is hereby initially appointed as Security Registrar for each series of Securities. In the event that the Trustee shall cease to be Security Registrar with respect to a series of Securities, the Trustee shall have the right to examine the Security Register for such series at all reasonable times.

 

Upon surrender for registration of transfer of any Security of any series at any office or agency of the Company maintained for such series pursuant to Section 10.02, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series of any authorized denominations, of a like aggregate principal amount bearing a number not contemporaneously outstanding and containing identical terms and provisions.

 

At the option of the Holder, Securities of any series may be exchanged for other Securities of the same series containing identical terms and provisions, in any authorized denominations, and of a like aggregate principal amount, upon surrender of the Securities to be exchanged at any such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive.

 

Notwithstanding the foregoing, except as otherwise specified as contemplated by Section 3.01, any global Security of any series shall be exchangeable for Securities of such series only if (i) the Securities Depository is at any time unwilling or unable or ineligible to continue as Securities Depository and a successor depository is not appointed by the Company within 90 days of the date the Company is so notified in writing, (ii) the Company executes and delivers to the Trustee a Company Order to the effect that such global Security shall be so exchangeable, or (iii) an Event of Default has occurred and is continuing with respect to the Securities and the Company or the Depository shall request such exchange. If the beneficial owners of interests in a global Security are entitled to exchange such interests for Securities of such series and of like tenor and principal amount of any authorized form and denomination, as specified as contemplated by Section 3.01, then without unnecessary delay but in any event not later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee definitive Securities of that series in aggregate principal amount equal to the principal amount of such global Security, executed by the Company. On or after the earliest date on which such interests may be so exchanged, such global Security shall be surrendered from time to time by the U.S. Depository or such other depository as shall be specified in the Company Order with respect thereto, and in accordance with instructions given to the Trustee and the U.S. Depository or such other depository, as the case may be (which instructions shall be in writing but need not comply with Section 1.02 or be accompanied by an Opinion of Counsel), as shall be specified in the Company Order with respect thereto to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or in part, for definitive Securities of the same series without charge. The Trustee shall authenticate and make available for delivery, in exchange for each portion of such surrendered global Security, a like aggregate principal amount of definitive Securities of the same series of authorized denominations and of like

 

14

 

tenor as the portion of such global Security to be exchanged; provided, however, that no such exchanges may occur during a period beginning at the opening of business 15 days before any selection of Securities of such series to be redeemed and ending on the relevant Redemption Date. Promptly following any such exchange in part, such global Security shall be returned by the Trustee to such Depository or the U.S. Depository, as the case may be, or such other Depository or U.S. Depository referred to above in accordance with the instructions of the Company referred to above. If a Security is issued in exchange for any portion of a global Security after the close of business at the office or agency where such exchange occurs on (i) any Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of business at such office or agency on the related proposed date for payment of interest or Defaulted Interest, as the case may be, interest will not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of such Security, but will be payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person to whom interest in respect of such portion of such global Security is payable in accordance with the provisions of this Indenture.

 

All Securities endorsed thereon issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the Company evidencing the same debt, and entitling the Holders thereof to the same benefits under this Indenture as the Securities surrendered upon such registration of transfer or exchange.

 

Every Security presented or surrendered for registration of transfer or for exchange, redemption or conversion shall (if so required by the Company or the Security Registrar for such series of Security presented) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and such Security Registrar duly executed by the Holder thereof or his attorney duly authorized in writing.

 

No service charge shall be made for any registration of transfer or exchange, redemption or conversion of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.05, 9.06 or 11.07 not involving any transfer.

 

Except as otherwise specified as contemplated by Section 3.01, the Company shall not be required (i) to issue, register the transfer of or exchange any Securities of any series during a period beginning at the opening of business 15 days before the day of the selection for redemption of Securities of such series under Section 11.03 and ending at the close of business on the day of such selection, or (ii) to register the transfer of or exchange any Security so selected for redemption in whole or in part, except in the case of any Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to issue, register the transfer of or exchange any Security which, in accordance with its terms specified as contemplated by Section 3.01, has been surrendered for repayment at the option of the Holder, except the portion, if any, of such Security not to be repaid.

 

Section 3.07. Mutilated, Destroyed, Lost and Stolen Securities.

 

If any mutilated Security is surrendered to the Trustee, subject to the provisions of this Section 3.07, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series containing identical terms and of like principal amount and bearing a number not contemporaneously outstanding.

 

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

 

Notwithstanding the foregoing provisions of this Section 3.07, in case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security.

 

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

 

15

 

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

 

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

 

Section 3.08. Payment of Interest; Interest Rights Preserved.

 

Interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered as of the close of business on the Regular Record Date for such interest.

 

Any interest on any Security of any series which shall be payable, but shall not be punctually paid or duly provided for, on any Interest Payment Date for such Security (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in Clause (1) or (2) below:

 

(1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities affected (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment. Money will be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. The Company also shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be sent to each Holder of such Securities at his address as it appears in the Security Register not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been sent as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2).

 

(2) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this Clause, such payment shall be deemed practicable by the Trustee.

 

For any Securities of any series that bear interest and are issued in global form, the Company shall make through the Paying Agent, all payments of principal and interest on the Securities in immediately available funds to the Depository or its nominee, in accordance with the applicable procedures of the Depository.  At the option of the Company, interest on Securities of any series that bear interest that are not in global form, may be paid through the Paying Agent by mailing a check to the address of the person entitled thereto as such address shall appear in the Security Register.

 

Subject to the foregoing provisions of this Section and Section 3.06, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.

 

Section 3.09. Persons Deemed Owners.

 

Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Security is registered as the owner of such Security for the purpose of receiving payment of principal of (and premium, if any), and (subject to Sections 3.06 and 3.08) interest on or any Additional Amounts with respect to, such Security and for all other purposes

 

16

 

whatsoever, whether or not any payment with respect to such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary.

 

Section 3.10. Cancellation.

 

All Securities surrendered for payment, redemption, registration of transfer or exchange or for credit against any sinking fund payment shall, if surrendered to any Person other than the Trustee or the Security Registrar, be delivered to the Trustee or the Security Registrar, and any such Securities and Securities surrendered directly to the Trustee or the Security Registrar for any such purpose shall be promptly cancelled by the Trustee or the Security Registrar, as the case may be. The Company may at any time deliver to the Trustee or the Security Registrar for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly cancelled by the Trustee or the Security Registrar, as the case may be. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture or as otherwise specified as contemplated by Section 3.01. All cancelled Securities held by the Trustee shall be retained by the Trustee and disposed in accordance with its customary practices.  The Trustee upon written request shall promptly notify the Company of all cancelled Securities.

 

Section 3.11. Computation of Interest.

 

Except as otherwise specified as contemplated by Section 3.01 for Securities of any series, interest on the Securities of each series shall be computed on the basis of 360-day year of twelve 30-day months.

 

Section 3.12. 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 notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in the “CUSIP” numbers.

 

ARTICLE FOUR

 

SATISFACTION AND DISCHARGE

 

Section 4.01. Satisfaction and Discharge of Indenture.

 

Upon the direction of the Company in an Officer’s Certificate, this Indenture shall cease to be of further effect with respect to any series of Securities specified in such Officer’s Certificate (except as to any surviving rights of registration of transfer or exchange of Securities of such series herein expressly provided for and any right to receive Additional Amounts, as provided in Section 10.04), and the Trustee, on receipt of an Officer’s Certificate, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture as to such series, when

 

(1) either

 

(A) all Securities of such series theretofore authenticated and delivered (other than (i) Securities of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.07, and (ii) Securities of such series for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 10.03) have been delivered to the Trustee for cancellation; or

 

(B) all Securities of such series thereto not theretofore delivered to the Trustee for cancellation

 

(i) have become due and payable, or

 

(ii) will become due and payable at their Stated Maturity within one year and such Securities are not convertible into other Securities, or

 

(iii) if redeemable at the option of the Company, such Securities are not convertible into other Securities and are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company,

 

17

 

and the Company, in the case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose, a sum of money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal (and premium, if any) and interest, or any Additional Amounts with respect thereto, to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may be;

 

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

 

(3) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture as to such series have been complied with.

 

In the event there are two or more Trustees hereunder, then the effectiveness of any such instrument shall be conditioned upon receipt of such instruments from all Trustees hereunder.

 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 6.07 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 4.02 and the last paragraph of Section 10.03 shall survive such satisfaction and discharge.

 

Section 4.02. Application of Trust Money.

 

Subject to the provisions of the last paragraph of Section 10.03, all money deposited with the Trustee pursuant to Section 4.01 or this section 4.02 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and any interest or any Additional Amounts 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.

 

All monies deposited with the Trustee pursuant to Section 4.01 (and held by it or any Paying Agent) for the payment of Securities subsequently converted shall be returned to the Company upon Company Request.

 

Section 4.03. Satisfaction, Discharge and Defeasance of Securities of Any Series.

 

If pursuant to Section 3.01 provision is made for defeasance of Securities of any series pursuant to Section 4.03, the Company shall be deemed to have paid and discharged the entire indebtedness on all the Outstanding Securities of such series and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of such indebtedness, when

 

(1) either

 

(A) with respect to all Outstanding Securities of such series,

 

(i) the Company has deposited or caused to be deposited with the Trustee, as trust funds in trust for such purpose, an amount sufficient to pay and discharge the entire indebtedness on all Outstanding Securities of such series for principal (and premium, if any), any Additional Amounts, and interest to the Stated Maturity or any Redemption Date as contemplated by the penultimate paragraph of this Section 4.03, as the case may be; or

 

(ii) with respect to any Series of Securities which are denominated in United States dollars, the Company has deposited or caused to be deposited with the Trustee, as obligations in trust for such purpose, such amount of direct obligations of, or obligations the timely payment of the principal of and interest on which are fully guaranteed by, the United States of America and which are not callable at the option of the issuer thereof as will, together with the income to accrue thereon without consideration of any reinvestment thereof, be sufficient to pay and discharge the entire indebtedness on all Outstanding Securities of such series for principal (and premium, if any), any Additional Amounts, and interest to the stated Maturity or any Redemption Date as contemplated by the penultimate paragraph of this Section 4.03; or

 

(B) the Company has properly fulfilled such other means of satisfaction and discharge as is specified, as contemplated by Section 3.01, to be applicable to the Securities of such series; and

 

18

 

(2) the Company has paid or caused to be paid all other sums payable hereunder with respect to the Outstanding Securities of such series; and

 

(3) the Company has delivered to the Trustee a certificate signed by a nationally recognized firm of Independent Public Accountants certifying as to the sufficiency of the amounts deposited pursuant to subsections (A) (i) or (ii) of this Section for payment of the principal (and premium, if any) and interest on the dates such payments are due, an Officer’s Certificate and an Opinion of Counsel, each such Certificate and opinion stating that no Event of Default or event which with notice or lapse of time or both would become an Event of Default with respect to such Securities shall have occurred and all conditions precedent herein provided for relating to the satisfaction and discharge of the entire indebtedness on all Outstanding Securities of any such series have been complied with; and

 

(4) the Company has delivered to the Trustee

 

(A) an opinion of independent counsel, which may be based upon a ruling from the Internal Revenue Service, that the holders of the Securities of such series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amount and in the same manner and at the same times, as would have been the case if such deposit, defeasance and discharge had not occurred; and

 

(B) if the Securities of such series are then listed on a national securities exchange, an Opinion of Counsel that the Securities of such series will not be delisted as a result of the exercise of this option.

 

Any deposits with the Trustee referred to in subsection (1) (A) of this Section shall be irrevocable. If any Outstanding Securities of such series are to be redeemed prior to their Stated Maturity, whether pursuant to any optional redemption or repayment provisions or in accordance with any mandatory sinking fund requirement, the Company shall make such arrangements for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company.

 

Upon the satisfaction of the conditions set forth in this Section 4.03 with respect to all the Outstanding Securities of any series, the terms and conditions of such series, including the terms and conditions with respect thereto set forth in this Indenture, other than the provisions of Sections 3.06, 3.07, and 10.02, other than the right of Holders of such series to receive, from the trust fund described in this Section, payment of the principal (and premium, if any) of, the interest on or any Additional Amounts with respect to such Securities when such payments are due, other than any right of conversion of such Securities and the rights, powers, duties and immunities of the Trustee hereunder and the Company’s obligations related thereto, shall no longer be binding upon, or applicable to, the Company except those responsibilities and obligations which by the terms of the Indenture survive the termination of the Indenture; provided that the Company shall not be discharged from any payment obligations in respect of Securities of such series which are deemed not to be Outstanding under clause (iii) of the definition thereof if such obligations continue to be valid obligations of the Company under applicable law.

 

ARTICLE FIVE

 

REMEDIES

 

Section 5.01. Events of Default.

 

“Event of Default”, wherever used herein with respect to Securities of any series, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or be effected by operation of law pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

 

(1) default in the payment of any installment of interest upon any Security of that series, as and when the same shall become due and payable, and continuance of such default for a period of 30 days;

 

(2) default in the payment of the principal of or premium, if any, on any Security of that series as and when the same shall become due and payable, whether at maturity, upon redemption, by declaration, upon required repurchase or otherwise;

 

(3) default in the payment of any sinking fund payment with respect to any Security of that series as and when the same shall become due and payable;

 

19

 

(4) failure by the Company to deliver the required securities or other rights upon an appropriate conversion or exchange election by any Holder of Convertible Securities;

 

(5) failure on the part of the Company duly to observe or perform any other of the covenants or agreements on the part of the Company in the Securities of that series, in any resolution of the Board of Directors authorizing the issuance of that series of Securities, in this Indenture with respect to such series or in any supplemental Indenture with respect to such series (other than a covenant a default in the performance of which is elsewhere in this Section specifically dealt with), continuing for a period of 90 days after the date on which written notice specifying such failure and requiring the Company to remedy the same shall have been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in aggregate principal amount of the Securities of that series at the time Outstanding;

 

(6) a court having jurisdiction in the premises shall enter a decree or order for the appointment of appointing a receiver, liquidator, trustee, or similar official in any receivership, insolvency, liquidation, or similar proceeding relating to the Company, and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days;

 

(7) the Company shall consent to the appointment of a receiver, liquidator, trustee or other similar official in any receivership, insolvency, liquidation or similar proceeding with respect to the Company;

 

(8) a “major subsidiary depository institution” of the Company shall be the subject of a receivership, insolvency, liquidation or similar proceeding; or

 

(9) any other Event of Default provided with respect to Securities of that series.

 

Section 5.02. Acceleration of Maturity; Rescission and Annulment.

 

If an Event of Default specified in Section 5.01(6) Section 5.01(7) or Section 5.01(8) occurs, the principal amount of all the Securities of such series(or, if any Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified by the terms thereof), together with accrued and unpaid interest, if any, thereon, shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and payable. The Maturity of the Securities of any series shall not otherwise be accelerated as a result of an Event of Default.

 

At any time after such a declaration of acceleration with respect to Securities of any series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of not less than a majority in principal amount of the Outstanding Securities of that series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if

 

(1) the Company has paid or deposited with the Trustee a sum sufficient to pay

 

(A) all overdue installments of interest on and any Additional Amounts payable in respect of all Securities of such series,

 

(B) the principal of (and premium, if any, on) any Securities of such series which have become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates borne by or provided for in such Securities,

 

(C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest or any Additional Amounts at the rate or rates borne by or provided for in such Securities, and

 

(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel as provided in Section 6.07 hereof; and

 

(2) all Events of Default with respect to Securities of such series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13.

 

No such rescission shall affect any subsequent default or impair any right consequent thereon.

 

Section 5.03. Collection of Indebtedness and Suits For Enforcement By Trustee.

 

The Company covenants that if:

 

20

 

(1) default is made in the payment of any installment of interest on or any Additional Amounts payable in respect of any Security when such interest or Additional Amounts shall have become due and payable and such default continues for a period of 30 days, or

 

(2) default is made in the payment of the principal of (or premium, if any, on) any Security at its Maturity,

 

then the Company will pay to it, for the benefit of the Holders of such Securities, the whole amount then due and payable on such Securities for principal (and premium, if any) and interest or Additional Amounts, if any, with interest upon the overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, upon overdue installments of interest or any Additional Amounts, at the rate or rates borne by or provided for in such Securities, and, in addition thereto, 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.

 

If the Company fails to pay such amounts, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Company or any other obligor upon such Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Securities, wherever situated.

 

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

 

Section 5.04. Trustee May File Proofs of Claim.

 

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

 

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

 

(2) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same;

 

and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and any other amounts due the Trustee under Section 6.07.

 

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

 

Section 5.05. Trustee May Enforce Claims Without Possession of Securities.

 

All rights of action and claims under this Indenture or any of the Securities may be prosecuted and enforced by the Trustee without the possession of any of the Securities or the production thereof in any proceeding relating

 

21

 

thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery or judgment, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, shall be for the ratable benefit of the Holders of the Security in respect of which such judgment has been recovered.

 

Section 5.06. Application of Money or Property Collected.

 

Subject to the provisions of Article XIII, any money or property collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money or property on account of principal (and premium, if any), interest or any Additional Amounts, upon presentation of the Securities, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 

FIRST: To the payment of all amounts due the Trustee, its agents and any predecessor Trustee under Section 6.07;

 

SECOND: To the payment of the amounts then due and unpaid upon the Securities for principal (and premium, if any) and interest or any Additional Amounts payable in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the aggregate amounts due and payable on such Securities for principal (and premium, if any), interest or any Additional Amounts, respectively; and

 

THIRD: The balance, if any, to the Company or as a court of competent jurisdiction may otherwise direct.

 

Section 5.07. Limitation on Suits.

 

No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless

 

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

 

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

 

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

 

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

 

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

 

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

 

Section 5.08. Unconditional Right of Holders to Receive Principal, Premium, Interest and Additional Amounts.

 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and unconditional, to receive payment of the principal of (and premium, if any) and (subject to Sections 3.06 and 3.08) interest on or any Additional Amounts in respect of such Security on the respective Stated Maturity or Maturities specified in such Security (or, in the case of redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder.

 

22

 

Section 5.09. Restoration of Rights and Remedies.

 

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

 

Section 5.10. Rights and Remedies Cumulative.

 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities in the last paragraph of Section 3.07, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy, to the extent permitted by law, shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 

Section 5.11. Delay or Omission Not Waiver.

 

No delay or omission of the Trustee or of any Holder of any Security to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be.

 

Section 5.12. Control By Holders.

 

Subject to Section 6.03(5), the Holders of a majority in principal amount of the Outstanding Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Securities of such series, provided that:

 

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

 

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

 

(3) such direction is not unduly prejudicial to the rights of other Holders of Securities of such series.

 

Section 5.13. Waiver of Past Defaults.

 

The Holders of not less than a majority in principal amount of the outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder with respect to such series and its consequences, except a default:

 

(1) in the payment of the principal of (and premium, if any) or interest on or Additional Amounts payable in respect of any Security of such series, or

 

(2) in respect of a covenant or provision hereof which under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected.

 

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 5.14. Waiver of Stay or Extension Laws.

 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted.

 

23

 

ARTICLE SIX

 

THE TRUSTEE

 

Section 6.01. Certain Duties and Responsibilities.

 

(1)         The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act. Without limiting the foregoing, except during the continuance of an Event of Default,

 

(A)       the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and

 

(B)       in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).

 

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

 

(2)         No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that:

 

(A)       this subsection shall not be construed to limit the effect of subsection (1) of this Section 6.01;

 

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

 

(C)       the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders pursuant to Section 5.12, relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such series;

 

(D)       the Trustee shall not be liable in respect of any payment (as to the correctness of amount, entitlement to receive or any other matters relating to payment) or notice effected by the Company or any Paying Agent or any records maintained by any co-Registrar with respect to the Notes; and

 

(E)        if any party fails to deliver a notice relating to an event the fact of which, pursuant to this Indenture, requires notice to be sent to the Trustee, the Trustee may conclusively rely on its failure to receive such notice as reason to act as if no such event occurred.

 

Notwithstanding the foregoing, no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if an adequate indemnity against such risk or liability is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section.

 

Section 6.02. Notice of Defaults.

 

Within 90 days after the occurrence of any default hereunder with respect to the Securities of any series, the Trustee shall transmit to the Holders in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, notice of such default hereunder known to a Responsible Officer of the Trustee, unless such default

 

24

 

shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest on, or any Additional Amounts with respect to, any Security of such series or in the payment of any sinking fund installment with respect to Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interests of the Holders of such series.

 

Section 6.03. Certain Rights of Trustee.

 

Subject to the provisions of Section 6.01:

 

(1) the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, or other paper or document reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties;

 

(2) any request or direction of the Company mentioned herein shall be sufficiently evidenced by an Officer’s Certificate, a Company Request or a Company Order (other than delivery of any Security to the Trustee for authentication and delivery pursuant to Section 3.04 which shall be sufficiently evidenced as provided therein) and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution or Board Resolutions;

 

(3) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, conclusively rely upon an Officer’s Certificate or an Opinion of Counsel;

 

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

 

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

 

(6) 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 or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole cost to the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation;

 

(7) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder;

 

(8) the Trustee shall not be liable for any action taken, suffered, omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture;

 

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

 

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

 

25

 

(11) in no event shall the Trustee be liable for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including lost profits), even if the Trustee has been advised of the likelihood of such loss or damage; and

 

(12) any permissive right or authority granted to the Trustee in this Indenture shall not be construed as a mandatory duty

 

Section 6.04. Not Responsible For Recitals or Issuance of Securities.

 

The recitals contained herein and in the Securities, except the Trustee’s certificate of authentication, shall be taken as the statements of the Company and neither the Trustee nor any Authenticating Agent assumes responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that the statements made by it in a Statement of Eligibility and Qualification on Form T-l supplied to the Company are true and accurate, subject to the qualifications set forth therein. The Trustee or any Authenticating Agent shall not be accountable for the use or application by the Company of Securities or the proceeds thereof.

 

Section 6.05. May Hold Securities.

 

The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other Person that may be an agent of the Trustee or the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 310(b) and 311 of the Trust Indenture Act, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other Person.

 

Section 6.06. Money Held In Trust.

 

Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law and shall be held uninvested. The Trustee shall be under no liability for interest on any money received by it hereunder.

 

Section 6.07. Compensation and Reimbursement.

 

The Company agrees:

 

(1) to pay to the Trustee from time to time such compensation for all services rendered by it hereunder as shall be mutually agreed upon by the Company and the Trustee in writing (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust);

 

(2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or bad faith; and

 

(3) to indemnify each of the Trustee and any predecessor Trustee and its agents for, and to hold them harmless against, any loss, liability, claim, damage or expense including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred without negligence or bad faith on their part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of enforcing this Indenture against the Company (including this Section 6.07) and the costs and expenses of defending themselves against any claim or liability in connection with the exercise or performance of any of their powers or duties hereunder.

 

The provisions of this Section 6.07 shall survive the termination of this Indenture and the resignation or removal of the Trustee.

 

To secure the Company’s payment obligations in this Section 6.07, 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 and interest on particular Securities. Such lien will survive the satisfaction and discharge of this Indenture and the resignation, removal or replacement of the Trustee.

 

26

 

Section 6.08. Corporate Trustee Required; Eligibility; Conflicting Interests.

 

There shall at all times be a Trustee hereunder that is a corporation permitted by Section 310(a)(1) and (5) of the Trust Indenture Act to act as trustee under the Trust Indenture Act and that has a combined capital and surplus (computed in accordance with Section 310(a) (2) of the Trust Indenture Act) of at least $50,000,000. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. If the Trustee has or shall acquire any conflicting interest, as defined in Section 310(b) of the Trust Indenture Act, with respect to the Securities of any series, the Trustee shall take such action as is required pursuant to said Section 310 (b).

 

Section 6.09. Resignation and Removal; Appointment of Successor.

 

(a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee pursuant to Section 6.10.

 

(b) The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by Section 6.10 shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to such series.

 

(c) The Trustee may be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of removal, the Trustee being removed may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

(d) If at any time:

 

(1) the Trustee shall fail to comply with the obligations imposed upon it under Section 310(b) of the Trust Indenture Act after written request therefor by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or

 

(2) the Trustee shall cease to be eligible under Section 6.08 and shall fail to resign after written request therefor by the Company or by any such Holder of a Security, or

 

(3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation,

 

then, in any such case, (a) the Company, by or pursuant to Board Resolution, may remove the Trustee with respect to all Securities, or (b) subject to Section 315(c) of the Trust Indenture Act any Holder of a Security who has been a bona fide Holder of a Security of any series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities of such series and the appointment of a successor Trustee or Trustees.

 

(e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Securities of one or more series, the Company, by or pursuant to Board Resolutions, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable requirements of Section 6.10. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable requirements of Section 6.10, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall have been so appointed by the Company or the Holders of Securities and accepted appointment in

 

27

 

the manner required by Section 6.10, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series.

 

(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series by sending written notice of such event to the Holders of Securities, if any, of such series as their names and addresses appear in the Security Register. Each notice shall include the name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office.

 

Notwithstanding replacement of the Trustee pursuant to this Section 6.09, the Company’s obligations under Section 6.07 will continue for the benefit of the retiring Trustee.

 

Section 6.10. Acceptance of Appointment By Successor.

 

(a) In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company and/or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder.

 

(b) In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust, that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for any notice given to, or received by, or any act or failure to act on the part of any other Trustee hereunder, and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor Trustee relates have no further responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture other than as hereinafter expressly set forth, and each such successor Trustee without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee, to the extent contemplated by such supplemental indenture, the property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor Trustee relates.

 

(c) Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be.

 

(d) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article.

 

28

 

Section 6.11. Merger, Conversion, Consolidation or Succession to Business.

 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities.

 

Section 6.12. Appointment of Authenticating Agent.

 

The Trustee may appoint an Authenticating Agent or Authenticating Agents, which may be an Affiliate of the Company, with respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of that or those series issued upon original issue or exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.07, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent.

 

Each Authenticating Agent shall be acceptable to the Company.

 

The Company agrees to pay each Authenticating Agent from time to time reasonable compensation for its services under this Section.

 

The provisions of Sections 3.09, 6.04 and 6.05 shall be applicable to each Authenticating Agent.

 

If an appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to or in lieu of the Trustee’s certificate of authentication, an alternate certificate of authentication in the following form:

 

This certificate represents Securities of the series designated herein referred to in the within-mentioned Indenture.

 

	
Dated:   [                                ]
    	
[                                             ],
    
	
 
    	
not   in its individual capacity but solely as Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
[                                                                      ]
    
	
 
    	
As   Authenticating Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Authorized   Signatory
    

 

If all of the Securities of any series may not be originally issued at one time, and if the Trustee does not have an office capable of authenticating Securities upon original issuance located in a Place of Payment where the Company wishes to have Securities of such series authenticated upon original issuance, the Trustee, if so requested in writing (which writing need not comply with Section 1.02) by the Company, shall appoint in accordance with this Section an Authenticating Agent having an office in a Place of Payment designated by the Company with respect to such series of Securities.

 

ARTICLE SEVEN

 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY

 

Section 7.01. Company to Furnish Trustee Names and Addresses of Holders.

 

In accordance with Section 312(a) of the Trust Indenture Act, the Company will furnish or cause to be furnished to the Trustee

 

29

 

(1) semi-annually, not later than 10 days after the Regular Record Date for interest for each series of Securities, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of such series as of such Regular Record Date, or if there is no Regular Record Date for interest for such series of Securities, semi-annually, upon such dates as are set forth in the Board Resolution or indenture supplemental hereto authorizing such series, and

 

(2) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished,

 

provided, however, that so long as the Trustee is the Security Registrar no such list shall be required to be furnished.

 

Section 7.02. Preservation of Information; Communications to Holders.

 

(a) The Trustee shall comply with the obligations imposed upon it pursuant to Section 312 of the Trust Indenture Act.

 

(b) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any Paying Agent nor any Security Registrar shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders of Securities in accordance with Section 312 of the Trust Indenture Act, regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 312(b) of the Trust Indenture Act.

 

Section 7.03. Reports By Trustee.

 

(a) Within 60 days after July 15 of each year commencing with the year following the first issuance of Securities pursuant to Section 3.01, if required by Section 313(a) of the Trust Indenture Act, the Trustee shall transmit pursuant to Section 313(c) of the Trust Indenture Act a brief report dated as of such July 15 with respect to any of the events specified in said Section 313(a) which may have occurred since the later of the immediately preceding July 15 and the date of this Indenture.

 

(b) The Trustee shall transmit the reports required by Section 313(b) of the Trust Indenture Act at the times specified therein.

 

(c) Reports pursuant to this Section shall be transmitted in the manner and to the Persons required by Sections 313(c) and (d) of the Trust Indenture Act.

 

Section 7.04. Reports By Company.

 

The Company shall file with the Trustee and the Commission, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant to such Act; provided that any such information, documents or reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed with the Trustee within 15 days after the same is so required to be filed with the Commission.

 

Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive or other notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). Notwithstanding the foregoing, to the extent any of the information required by this Section 7.04 is filed by the Company with the Commission and publicly available on the Commission’s EDGAR system (or any successor system thereto), then such information shall be deemed to be filed with the Trustee provided, however, that the Trustee shall have no obligation whatsoever to determine if such filing has occurred.

 

ARTICLE EIGHT

 

CONSOLIDATION, MERGER AND SALES

 

Section 8.01. Company May Consolidate Etc., Only on Certain Terms.

 

Nothing contained in this Indenture or in any of the Securities shall prevent any consolidation or merger of the Company with or into any other Person or Persons (whether or not affiliated with the Company), or successive

 

30

 

consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any conveyance, transfer or lease of the property of the Company as an entirety or substantially as an entirety, to any other Person (whether or not affiliated with the Company); provided, however, that:

 

(1) in case the Company shall consolidate with or merge into another Person or convey, transfer or lease its properties and assets substantially as an entirety to any Person, the entity formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Company substantially as an entirety shall be a corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and shall expressly assume, by one or more indentures supplemental hereto, executed and delivered by the successor Person to the Trustee, the due and punctual payment of the principal of (and premium, if any) and interest on or any Additional Amounts in respect of all the Securities and the performance of every other covenant of this Indenture on the part of the Company to be performed or observed;

 

(2) immediately after giving effect to such transaction no Event of Default, and no event which, after notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing; and

 

(3) the successor Person has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, transfer or lease and such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with.

 

Section 8.02. Successor Corporation Substituted For Company.

 

Upon any consolidation or merger or any conveyance, transfer or lease of the properties and assets of the Company substantially as an entirety to any Person in accordance with Section 8.01, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, the Company shall be relieved of all obligations and covenants under this Indenture and the Securities.

 

ARTICLE NINE

 

SUPPLEMENTAL INDENTURES

 

Section 9.01. Supplemental Indentures Without Consent of Holders.

 

Without the consent of any Holders, the Company, when authorized by Board Resolutions, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, for any of the following purposes:

 

(1) to evidence the succession of another Person to the Company, and the assumption by any such successor of the covenants of the Company herein and in the Securities;

 

(2) to add to the covenants of the Company for the benefit of the Holders of all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred upon the Company;

 

(3) to add to or change any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the issuance of Securities in uncertificated form;

 

(4) to establish the form or terms of Securities of any series as permitted by Sections 2.01 and 3.01;

 

(5) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 6.10(b);

 

(6) to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture which shall not be inconsistent with the provisions of this Indenture and which shall not adversely affect the interest of the Holders of Securities of any series in any material respect;

 

31

 

(7) to add to, delete from or revise the conditions, limitations and restrictions on the authorized amount, terms or purposes of issue, authentication and delivery of Securities, as herein set forth;

 

(8) to add any additional Events of Default for the benefit of the Holders of all or any series of Securities (and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit of such series);

 

(9) to modify, eliminate or add to the provisions of this Indenture to such extent as shall be necessary to conform the obligations of the Company and the Trustee under this Indenture to the obligations imposed on such Persons hereunder pursuant to the Trust Indenture Act or under any similar federal statute hereafter enacted and rules or regulations of the Commission thereunder;

 

(10) to make provisions with respect to the conversion rights of Holders of Convertible Securities; or

 

(11) to add to, change or eliminate any of the provisions of this Indenture in respect to one or more series of Securities; provided, however, that any such addition, change or elimination (i) shall neither (A) apply to any Security of any series issued prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor (B) modify the rights of the Holder of any such pre-existing series of any Security with respect to the application of such provision to such pre-existing series of a Security or (ii) shall become effective only when there is no such pre-existing series of a Security outstanding.

 

Section 9.02. Supplemental Indentures With Consent of Holders.

 

With the consent of the Holders of not less than a majority in principal amount of the Outstanding Securities of each series affected by such supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by Board Resolutions, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental Indenture shall, without the consent of the Holder of each Outstanding Security affected thereby, shall:

 

(1) change the Stated Maturity of the principal of, or any installment of interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any Additional Amounts payable in respect thereof, or any premium payable upon the redemption thereof, or change the obligation of the Company to pay Additional Amounts pursuant to Section 10.05 (except as contemplated by Section 8.01(1) and permitted by Section 9.01(1)), or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.02, or change the Place of Payment, coin or currency in which any Security or any premium or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or

 

(2) reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or

 

(3) modify any of the provisions of this section, or Sections 5.12, or 5.13, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby.

 

The Company may, but shall not be obligated to, fix a record date for the purposes of determining the Persons entitled to consent to any indenture supplemental hereto. If a record date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to consent to such supplemental indenture, whether or not such Holders remain Holders after such record date; provided, that unless such consent shall have become effective by virtue of the requisite percentage having been obtained prior to the date which is 90 days after such record date, any such consent previously given shall automatically and without further action by any Holder be cancelled and of no further effect.

 

A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or which

 

32

 

modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series.

 

It shall not be necessary for any Act of Holders of Securities under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof.

 

Section 9.03. Execution of Supplemental Indentures.

 

As a condition to executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trust created by this Indenture, the Trustee shall be provided with, and (subject to Section 315 of the Trust Indenture Act) shall be fully protected in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and that it complies with the terms of this Indenture and that such supplemental indenture is the legal, valid and binding obligation of the Issuer, enforceable against the Company in accordance with its terms.. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties, liabilities or immunities under this Indenture or otherwise.

 

Section 9.04. Effect of Supplemental Indentures.

 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of a Security theretofore or thereafter authenticated and delivered hereunder shall be bound thereby.

 

Section 9.05. Conformity With Trust Indenture Act.

 

Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect.

 

Section 9.06. Reference in Securities to Supplemental Indentures.

 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall if required by the Company, bear a notation in form approved by the Company as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series.

 

Section 9.07. Subordination Unimpaired.

 

No supplemental indenture entered into under this Article Nine shall modify, directly or indirectly, the provisions of Article Thirteen or the definition of Senior Indebtedness in Section 1.01 or establish a definition of Senior Indebtedness pursuant to Section 3.01(19) in connection with any series of Securities, in any manner that might alter or impair the subordination of the Securities with respect to Senior Indebtedness then outstanding, unless each holder of such Senior Indebtedness has consented thereto in writing.

 

33

 

ARTICLE TEN

 

COVENANTS

 

Section 10.01. Payment of Principal, Premium, If Any, and Interest.

 

The Company covenants and agrees for the benefit of the Holders of each series of Securities that it will duly and punctually pay the principal of (and premium, if any), interest on or any Additional Amounts payable in respect of the Securities of that series in accordance with the terms of such series of Securities and this Indenture. Unless otherwise provided with respect to a series of Securities, principal, premium, if any, and interest will be considered paid on the date due if the Paying Agent, if other than the Company, holds as of 10:00 a.m. New York City time on the due date money deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest then due.

 

Section 10.02. Maintenance of Office or Agency.

 

The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of such series may be presented or surrendered for payment, where Securities of that 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 that series 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 shall fail to maintain any such required office or agency or shall fail 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, at the place specified for the purpose pursuant to Section 3.01, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands; provided, however, no service of legal process on the Company may be made at any office of the Trustee.

 

The Company may also from time to time designate one or more other offices or agencies where the Securities of one or more series 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 shall in any manner relieve the Company of their obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. Unless otherwise specified as contemplated by Section 3.01, the Company hereby designates as the Place of Payment for each series the Corporate Trust Office of the Trustee.

 

Section 10.03. Money For Securities Payments to Be Held in Trust.

 

If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due date of the principal of (and premium, if any), or interest on, any of the Securities of that series, segregate and hold in trust for the benefit of the Person entitled thereto a sum sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act.

 

Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, on or prior to each due date of the principal of (and premium, if any), or interest on, any Securities of that series, deposit with any Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act.

 

The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will:

 

(1) comply with the provisions of the Trust Indenture Act applicable to it as Paying Agent;

 

(2) hold all sums held by it for the payment of the principal of (and premium, if any) or interest on Securities of that series in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided;

 

34

 

(3) give the Trustee notice of any default by the Company (or any other obligor upon the Securities of that series) in the making of any payment of principal (and premium, if any) or interest on the Securities of that series; and

 

(4) at any time during the continuance of any such default, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent.

 

The Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same terms as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money.

 

Except as otherwise provided hereby or pursuant hereto, 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 (and premium, if any) or interest and Additional Amounts on any Security of any series and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; 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 an English language newspaper of general circulation, published on each Business Day, in each Place of Payment for such series or to be sent to Holders of Securities for such series, or both, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication or delivery nor shall it be later than two years after such principal (and premium, if any) or interest has become due and payable, any unclaimed balance of such money then remaining will be repaid to the Company.

 

Section 10.04. Additional Amounts.

 

If any Securities of a series provide for the payment of Additional Amounts, the Company agrees to pay to the Holder of any such Security of any such series Additional Amounts as provided therein. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of (or premium, if any) or interest on, or in respect of, any Security of any series or the net proceeds received on the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment of Additional Amounts provided by the terms of such series established hereby or pursuant hereto to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to such terms and express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made.

 

Subject to applicable unclaimed property laws, except as otherwise provided herein or pursuant hereto, if the Securities of a series provide for the Payment of Additional Amounts, at least 10 days prior to the first Interest Payment Date with respect to such series of Securities (or if the Securities of that series shall not bear interest prior to Maturity, the first day on which a payment of principal (and premium, if any, is made), and at least 10 days prior to each date of payment of principal (and premium, if any) or interest if there has been any change with respect to the matters set forth in the below-mentioned Officer’s Certificate, the Company will furnish the Trustee and the principal Paying Agent or Paying Agents, if other than the Trustee, an Officer’s Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal (and premium, if any) of or interest on the Securities of that series shall be made to Holders of Securities of that series who are United States Aliens without withholding for or on account of any tax, assessment or other governmental charge described in the Securities of that series. If any such withholding shall be required, then such Officer’s Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders and the Company agrees to pay to the Trustee or such Paying Agent the Additional Amounts required by this Section. The Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any loss, liability or expense reasonably incurred without negligence or bad faith on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officer’s Certificate furnished pursuant to this Section.

 

35

 

-Section 10.05. Statement As To Compliance; Notice of Certain Defaults.

 

(a) The Company will, in addition to the reports required by Section 7.04, deliver to the Trustee, within 120 days after the end of each fiscal year (which on the date hereof ends on December 31), commencing December 31, 2014, a written statement, which need not comply with Section 1.02, signed by the Chairman of the Board, the Chief Executive Officer, the President, the Chief Operating Officer or an Executive Vice President and by the Chief Financial Officer, the Treasurer or an Assistant Treasurer of the Company, stating, as to each signer thereof, that:

 

(1) a review of the activities of the Company during such year and of performance under this Indenture has been made under his supervision, and

 

(2) to the best of his knowledge, based on such review, (a) the Company has fulfilled all of its obligations under this Indenture throughout such year, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known to him and the nature and status thereof, and (b) no event has occurred and is continuing which is, or after notice or lapse of time or both would become, an Event of Default, or, if such an event has occurred and is continuing, specifying each such event known to him and the nature and status thereof.

 

(b) The Company will deliver to the Trustee as soon as possible, and in any event, within five days after the occurrence thereof, written notice of any event which after notice or lapse of time or both would become an Event of Default.

 

Section 10.06. Payment of Taxes and Other Claims.

 

The Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a lien upon the property of the Company or any subsidiary; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings.

 

Section 10.07. Corporate Existence.

 

Subject to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, rights (charter and statutory); provided, however, that the Company shall not be required to preserve any such right or franchise if the Company shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and that the loss thereof is not disadvantageous in any material respect to the Holders.

 

Section 10.08. Waiver of Certain Covenants.

 

Except as otherwise specified as contemplated by Section 3.01 for Securities of such series, the Company may omit in any particular instance to comply with any term, provision or condition set forth pursuant to Section 3.01(17), or in Section 10.06 or 10.07 with respect to the Securities of any series if before the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Securities of such series shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect.

 

ARTICLE ELEVEN

 

REDEMPTION OF SECURITIES

 

Section 11.01. Applicability of Article.

 

Redemption of Securities of any series at the option of the Company as permitted or required by the terms of such Securities shall be made in accordance with the terms of such Securities and (except as otherwise provided herein or pursuant hereto or as specified as by Section 3.01) this Article.

 

Section 11.02. Election To Redeem; Notice To Trustee.

 

The election of the Company to redeem any Securities shall be evidenced by Board Resolution or in such other manner specified as contemplated by Section 3.01. In case of any redemption at the election of the Company 

 

36

 

of the Securities of any series, with the same issue date, interest rate and Stated Maturity, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed.

 

Section 11.03. Selection By Trustee of Securities To Be Redeemed.

 

If less than all the Securities of any series with the same issue date, interest rate, Stated Maturity and other terms are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee from the Outstanding Securities of such series not previously called for redemption, by lot or such other method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of portions of the principal amount of Securities of such series; provided, however, that no such partial redemption shall reduce the portion of the principal amount of a Security of such series not redeemed to less than the minimum denomination for a Security of such series established herein pursuant hereto.

 

If any Convertible Security selected for partial redemption is converted in part before termination of the conversion right with respect to the portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities which have been converted during a selection of Securities to be redeemed shall be treated by the Trustee as Outstanding for the purpose of such selection.

 

The Trustee shall promptly notify the Company and the Security Registrar (if other than itself) in writing of the Securities selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed.

 

For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal of such Securities which has been or is to be redeemed.

 

Section 11.04. Notice of Redemption.

 

Notice of redemption shall be given in the manner provided in Section 1.06, not less than 30 nor more than 60 days prior to the Redemption Date, unless a shorter period is specified in the Securities to be redeemed, to the Holders of Securities to be redeemed (provided notice may be given more than 60 days prior to the Redemption Date in connection with a defeasance or the satisfaction and discharge of the series). Failure to give notice by sending in the manner herein provided to the Holder of any Securities designated for redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption of any other Securities or portion thereof.

 

Any notice that is sent to the Holder of any Securities in the manner herein provided shall be conclusively presumed to have been duly given, whether or not such Holder receives the notice.

 

All notices of redemption shall state:

 

(1) the Redemption Date,

 

(2) the Redemption Price,

 

(3) if less than all Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial redemption, the principal amount) of the particular Securities to be redeemed,

 

(4) in case any Security is to be redeemed in part only, the notice which relates to such Security shall state that on and after the Redemption Date, upon surrender of such Security, the Holder of such Security will receive, without charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed,

 

(5) in the case of Convertible Securities, the Conversion Price then in effect, the date on which the right to convert the principal amount of the Securities or the portions thereof to be redeemed will terminate and the place or places where such Securities may be surrendered for conversion,

 

(6) that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed and that interest thereon and Additional Amounts, if any, shall cease to accrue on and after said date,

 

37

 

(7) the place or places where such Securities are to be surrendered for payment of the Redemption Price,

 

(8) that the redemption is for a sinking fund, if such is the case, and

 

(9) the CUSIP number, if any.

 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company; provided, however, that if delivery is to be made by the Trustee the Company shall have delivered to the Trustee, at least five Business Days (or such shorter period as may be agreed to by the Trustee) before notice of redemption is required to be sent the redemption notice and a request for the Trustee to make such delivery.

 

Section 11.05. Deposit of Redemption Price.

 

On or prior to 10:00 a.m., New York City time on any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 10.03) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest on and any Additional Amounts with respect thereto, all the Securities or portions thereof which are to be redeemed on that date.

 

If any Convertible Security or portion thereof called for redemption is converted in accordance with the terms of such Convertible Security, any money deposited with the Trustee or so segregated and held in trust for the redemption of such Security or portion thereof shall (subject to any right of the Holder of the Security on a Regular Record Date preceding such conversion to receive interest) be paid to the Company upon Company Request or, if then held by the Company, shall be discharged from such trust.

 

Section 11.06. Securities Payable on Redemption Date.

 

Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company through the Paying Agent at the Redemption Price, together with accrued interest (or any Additional Amounts) to the Redemption Date; provided, however, that installments of interest on Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the Regular Record Dates according to their terms and the provisions of Section 3.08.

 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and premium, if any) shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security.

 

Section 11.07. Securities Redeemed in Part.

 

Any Security that is not a global security which is to be redeemed only in part shall be surrendered at any office or agency of the Company maintained for that purpose pursuant to Section 10.02 (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series, containing identical terms and provisions, of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered.

 

Section 11.08. Conversion Arrangements on Call for Redemption.

 

Notwithstanding anything to the contrary contained in this Indenture, in connection with any redemption of Convertible Securities of any series, the Company, by an agreement with one or more investment bankers or other purchasers, may arrange for such purchasers to purchase all such Convertible Securities called for redemption (the “Called Securities”) which are either (i) surrendered for redemption or (ii) not duly surrendered for redemption or conversion prior to the close of business on the Redemption Date, and to convert the same into shares of Common Stock, by the purchasers’ depositing with the Trustee (acting as Paying Agent with respect to the deposit of such amount and as conversion agent with respect to the conversion of such Called Securities), in trust for the Holders of 

 

38

 

the Called Securities, on or prior to the Redemption Date in the manner agreed to by the Company and such purchasers, an amount sufficient to pay the Redemption Price, payable by the Company on redemption of such Called Securities. In connection with any such arrangement for purchase and conversion, the Trustee as Paying Agent shall pay on or after the Redemption Date such amounts so deposited by the purchasers in exchange for Called Securities surrendered for redemption prior to the close of business on the Redemption Date and for all Called Securities surrendered after such Redemption Date. Notwithstanding anything to the contrary contained in this Article Eleven, the obligation of the Company to pay the Redemption Price of such Called Securities shall be satisfied and discharged to the extent such amount is so paid by such purchasers. However, nothing in this Section 11.08 shall in any way relieve the Company of the obligation to pay such Redemption Price on all Called Securities to the extent such amount is not so paid by said purchasers. For all purposes of this Indenture, any Called Securities surrendered by the Holders for redemption, and any Called Securities not duly surrendered for redemption or conversion prior to the close of business on the Redemption Date, shall be deemed acquired by such purchasers from such Holders and surrendered by such purchasers for conversion and shall in all respects be deemed to have been converted, all as of immediately prior to the close of business on the Redemption Date, subject to the deposit by the Purchasers of the above amount as aforesaid. Nothing in this Section 11.08 shall in any way limit the right of any Holder of a Security to convert his Security pursuant to the terms of this Indenture and of such Security at any time prior to the close of business on the Redemption Date applicable thereto.

 

ARTICLE TWELVE

 

SINKING FUNDS

 

Section 12.01. Applicability of Article.

 

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

 

The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of Securities of such series is herein referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.02. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series.

 

Section 12.02. Satisfaction of Sinking Fund Payments With Securities.

 

The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series to be made pursuant to the terms of such Securities as provided for by the terms of such series (1) deliver Outstanding Securities of such series (other than any of such Securities previously called for redemption or any of such Securities in respect of which cash shall have been released to the Company), and (2) apply as a credit Securities of such series which have been redeemed either at the election of the Company pursuant to the terms of such series of Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, provided that such series of Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.

 

Section 12.03. Redemption of Securities For Sinking Fund.

 

Not less than 90 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee an Officer’s Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that series pursuant to Section 12.02, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and will also deliver to the Trustee any Securities to be so credited and not theretofore delivered. If such Officer’s Certificate shall specify an optional amount to be added in cash to the next ensuing mandatory sinking fund payment, the Company shall thereupon be obligated to pay the amount therein specified. Not less than 60 days before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 11.03 and cause notice of the 

 

39

 

redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 11.04. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 11.06 and 11.07.

 

ARTICLE THIRTEEN

 

SUBORDINATION

 

Section 13.01. Securities Subordinated To Senior Indebtedness.

 

The Company covenants and agrees, and each Holder of Securities, by its acceptance thereof, likewise covenants and agrees, that the indebtedness evidenced by the Securities and the payment of the principal of (and premium, if any) and interest on and any Additional Amounts payable in respect thereof is hereby expressly subordinated, to the extent and in the manner hereinafter set forth, in right of payment to the prior payment in full of Senior Indebtedness.

 

Anything in this Indenture or in the Securities of any series to the contrary notwithstanding, the indebtedness evidenced by the Securities shall be subordinate and junior in right of payment, to the extent and in the manner hereinafter set forth, to all Senior Indebtedness:

 

(1) In the event of any insolvency or bankruptcy proceedings, and any receivership, liquidation, reorganization, arrangement or other similar proceedings in connection therewith, relative to the Company or to its property, and in the event of any proceedings for voluntary liquidation, dissolution or other winding-up of the Company, whether or not involving insolvency or bankruptcy, then the holders of Senior Indebtedness shall be entitled to receive payment in full of all principal, premium and interest on or other amounts in respect of, all Senior Indebtedness before the Holders of the Securities are entitled to receive any payment on account of principal, premium, if any, interest or Additional Amounts upon the Securities, and to that end (but subject to the power of a court of competent jurisdiction to make other equitable provisions reflecting the rights conferred in the Securities upon Senior Indebtedness and the Holders thereof with respect to the subordinated indebtedness represented by the Securities and the Holders hereof by a lawful plan of reorganization under applicable bankruptcy law) the holders of Senior Indebtedness shall be entitled to receive for application in payment thereof any payment or distribution of any kind or character, whether in cash or property or securities, which may be payable or deliverable in any such proceedings in respect of the Securities after giving effect to any concurrent payment or distribution in respect of such Senior Indebtedness, except securities which are subordinate and junior in right of payment to the payment of all Senior Indebtedness then outstanding;

 

(2) In the event and during the continuation of any default in the payment of the principal of or any premium or interest on any Senior Indebtedness beyond any applicable grace period with respect to such Senior Indebtedness, or in the event that any Senior Indebtedness or any Security of any series is declared or otherwise becomes due and payable before its expressed maturity because of the occurrence of an Event of Default hereunder or thereunder (under circumstances when the provisions of the foregoing clause (1) or the following clause (3) shall not be applicable), the holders of Senior Indebtedness outstanding at the time such Security so becomes due and payable because of such occurrence of an Event of Default hereunder or thereunder shall, so long as such declaration has not been rescinded and annulled, be entitled to receive payment in full of all principal of, and premium and interest on or other amounts in respect of, all such Senior Indebtedness before the Holders of the Securities of such series are entitled to receive any payment on account of principal of, premium, if any, or interest and Additional Amounts on the Securities of such series. However, nothing herein shall prevent the Holders of Securities from seeking any remedy allowed at law or at equity so long as any judgment or decree obtained thereby makes provision for enforcing this clause; and

 

(3) In the event that any default shall occur and be continuing with respect to any Senior Indebtedness permitting the holders of such Senior Indebtedness to accelerate the maturity thereof, if either

 

(A) notice of such default, in writing or by telegram, shall have been given to the Company and to the Trustee, provided that judicial proceedings shall be commenced in respect of such default within 180 days in the case of a default in payment of principal or interest and within 90 days in the case of any other default after the giving of such notice, and provided further that only one such notice shall be given pursuant to this Section 13.01(3) in any twelve months period, or

 

(B) judicial proceedings shall be pending in respect of such default,

 

40

 

the Holders of the Securities and the Trustee for their benefit shall not be entitled to receive any payment on account of principal, premium, if any, or interest and Additional Amounts thereon (including any such payment which would cause such default) unless payment in full of all principal of, and premium and interest on or other amounts in respect of, such Senior Indebtedness shall have been made or provided for. The Trustee, forthwith upon receipt of any notice received by it pursuant to this Section 13.01(3), shall, as soon as practicable, send a notice thereof to each Holder of Securities at the time outstanding as the names and addresses of such Holders appear on the Security Register.  In case despite the foregoing provisions, any payment or distribution shall, in any such event, be paid or delivered to any Holder of the Securities or to the Trustee for their benefit before all Senior Indebtedness shall have been paid in full, such payment or distribution shall be held in trust for and so paid and delivered to the holders of Senior Indebtedness (or their duly authorized representatives) until all Senior Indebtedness shall have been paid in full.

 

The Company shall give written notice to the Trustee within five days after the occurrence of any insolvency, bankruptcy, receivership, liquidation, reorganization, arrangement or similar proceeding of the Company within the meaning of this Section 13.01. Upon any payment or distribution of assets of the Company referred to in this Article Thirteen, the Trustee, subject to the provisions of Section 315(a) through 315(b) of the Trust Indenture Act, and the Holders of the Securities shall be entitled to rely upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors or other liquidating agent making such payment or distribution, delivered to the Trustee or to the Holders of Securities, for the purpose of ascertaining the persons entitled to participate in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article Thirteen.

 

The Trustee shall be entitled to conclusively rely on the delivery to it of a written notice by a person representing himself to be a holder of Senior Indebtedness (or a trustee or agent on behalf of such holder) to establish that such notice has been given by a holder of Senior Indebtedness (or a trustee or agent on behalf of any such holder). In the event that the Trustee determines, in good faith, that further evidence is required with respect to the right of any person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Section 13.01, the Trustee may request such person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such person, as to the extent to which such person is entitled to participate in such payment or distribution, and as to other facts pertinent to the rights of such person under this Section 13.01, and if such evidence is not furnished, the Trustee may defer any payment to such person pending judicial determination as to the right of such person to receive such payment.

 

Section 13.02. Subrogation.

 

Subject to the payment in full of all Senior Indebtedness to which the indebtedness evidenced by the Securities is in the circumstances subordinated as provided in Section 13.01, the Holders of the Securities shall be subrogated to the rights of the holders of such Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to such Senior Indebtedness until all amounts owing on the Securities shall be paid in full. As between the Company, its creditors other than holders of such Senior Indebtedness, and the Holders of the Securities, no such payment or distribution made to the holders of such Senior Indebtedness by virtue of this Article Thirteen which otherwise would have been made to the Holders of the Securities shall be deemed to be a payment by the Company on account of such Senior Indebtedness, it being understood that the provisions of this Article Thirteen are and are intended solely for the purpose of defining the relative rights of the Holders of the Securities on the one hand, and the holders of the Senior Indebtedness, on the other hand.

 

Section 13.03. Obligation of Company Unconditional.

 

Nothing contained in this Article Thirteen or elsewhere in this Indenture or in the Securities,

 

(1) is intended to or shall impair as between its creditors other than the holders of Senior Indebtedness and the Holders of the Securities, the obligation of the Company which is absolute and unconditional, to pay to the Holders of the Securities the principal of (and premium, if any), interest on, or any Additional Amounts with respect to, the Securities as and when the same shall become due and payable in accordance with their terms,

 

(2) is intended to or shall affect the relative rights of the Holders of the Securities and creditors of the Company other than the holders of Senior Indebtedness, or

 

41

 

(3) prevents the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article Thirteen of the holders of Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy.

 

Upon any payment or distribution of assets of the Company referred to in this Article Thirteen, the Trustee and the Holders of the Securities shall be entitled to rely upon any order or decree made by any court of competent jurisdiction in which any such dissolution, winding up, liquidation or reorganization proceeding affecting the affairs of the Company is pending or upon a certificate of the trustee in bankruptcy, receiver, assignee for the benefit of creditors, liquidating trustee or agent or other person making any payment or distribution, delivered to the Trustee or to the Holders of the Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of the Senior Indebtedness and other indebtedness of the Company the amount thereof or payable thereon, the amount paid or distributed thereon and all other facts pertinent thereto or to this Article Thirteen

 

Section 13.04. Payment on Securities Permitted.

 

Nothing contained in this Article Thirteen or elsewhere in this Indenture, or in any of the Securities, shall affect the obligation of the Company to make, or prevent the Company from making payment of the principal of (or premium, if any), interest or any Additional Amounts on the Securities in accordance with the provisions hereof and thereof, except as otherwise provided in this Article Thirteen.

 

Section 13.05. Effectuation of Subordination by Trustee.

 

Each Holder of Securities, by his or her acceptance thereof, authorizes and directs the Trustee in his or her behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this Article Thirteen and appoints the Trustee his or her attorney-in-fact for any and all such purposes.

 

Section 13.06. Knowledge of Trustee.

 

Notwithstanding the provisions of this Article Thirteen or any other provisions of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which would prohibit the making of any payment of monies to or by the Trustee, or the taking of any other action by the Trustee, unless and until a Responsible Officer of the Trustee shall have received written notice thereof from the Company, any Holder of the Securities, any paying agent of the Company or the holder or representative of any class of Senior Indebtedness.

 

Section 13.07. Trustee’s Relation To Senior Indebtedness.

 

Except as otherwise provided in the Trust Indenture Act, the Trustee shall be entitled to all the rights set forth in this Article Thirteen with respect to any Senior Indebtedness at the time held by it, to the same extent as any other holder of Senior Indebtedness, and nothing in this Indenture shall deprive the Trustee of any of its rights as such holder. Notwithstanding anything in this Indenture or in the Securities of any series, nothing in this Article Thirteen shall apply to or limit claims of or payment to the Trustee under or pursuant to Sections 5.06 and 6.07.

 

With respect to holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Article Thirteen, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness and the Trustee shall not be liable to any holder of Senior Indebtedness if it shall pay over or deliver to Holders, the Company or any other Person monies or assets to which any holder of Senior Indebtedness shall be entitled by virtue of this Article Thirteen or otherwise.

 

No recourse may be taken with respect to the obligations of the Issuer or the Trustee against the Trustee in its individual capacity.

 

Section 13.08. Rights Of Holders Of Senior Indebtedness Not Impaired.

 

No right of any present or future holder of any Senior Indebtedness to enforce the subordination herein shall at any time or in any way be prejudiced or impaired by any act or failure to act on the part of the Company or by any non-compliance by the Company with the terms, provisions or covenants of this Indenture, regardless of any knowledge thereof any such holder may have or be otherwise charged with.

 

* * * * *

 

42

 

This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument.

 

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

 

	
 
    	
EAGLE   BANCORP, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
                                                          ,
    
	
 
    	
not   in its individual capacity but solely as Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    

 

43EX-10.47

 EXHIBIT 10.47 

EXECUTION COPY 
 PNC BANK, NATIONAL
ASSOCIATION 
 US$25,000,000,000 

Global Bank Note Program 
 for the
Issue of Senior and Subordinated Bank Notes 
 with Maturities of more than nine months from Date of Issue 

DISTRIBUTION AGREEMENT 

January 16, 2014 
 CITIGROUP GLOBAL MARKETS
INC. 
 388 Greenwich Street 
 New York, NY 10013 

AND EACH OF THE DEALERS LISTED 
 ON SCHEDULE I
HERETO 
 Ladies and Gentlemen: 
 PNC Bank,
National Association (the “Issuing Bank”), a national bank organized under the laws of the United States, confirms its agreement with Citigroup Global Markets Inc. and each of the other dealers listed on Schedule I hereto (each
referred to as a “Dealer” and collectively referred to as the “Dealers”) with respect to the issue and sale by the Issuing Bank of (i) senior unsecured debt obligations, with maturities of more than nine
months, not insured by the Federal Deposit Insurance Corporation (the “Senior Notes”) and (ii) subordinated unsecured debt obligations, with maturities of five years or more from their date of issue, not insured by the Federal
Deposit Insurance Corporation (the “Subordinated Notes” and, together with the Senior Notes, the “Bank Notes”). The Issuing Bank is a subsidiary of The PNC Financial Services Group, Inc., a Pennsylvania corporation
(the “Parent”). 
 SECTION 1. Appointment as Dealers. 

(a) Appointment of Dealers. Subject to the terms and conditions stated herein, the Issuing Bank hereby appoints each Dealer as a dealer
for the purpose of soliciting purchases of the Bank Notes from the Issuing Bank by others. Whenever the Issuing Bank agrees to sell Bank Notes directly to a Dealer as principal for resale to others, such sale shall be made in accordance with the
provisions of Section 3(a) hereof. No Dealer is authorized to appoint sub-dealers; however, any Dealer may engage the services of any other broker or dealer in connection with the offer or sale of the Bank Notes. The appointment of the Dealers
hereunder is not exclusive and the Issuing Bank may from time to time offer Bank Notes for sale otherwise than to or through a Dealer. The Issuing Bank may appoint one or more other dealers for the purpose of soliciting purchases of the Bank Notes
upon the terms of this Agreement by execution of a Dealer Agreement (which may be in the form of Exhibit E-1 hereto) or pursuant to a Syndicated Terms Agreement (as defined below). It is understood, however, that if from

 
time to time the Issuing Bank is approached by a prospective agent offering to solicit a specific purchase of Bank Notes, the Issuing Bank may enter into an agreement with such agent with respect
to such specific purchase upon such terms as the Issuing Bank and such agent may agree. Each Dealer is acting in connection with the Bank Notes individually and not collectively or jointly. 

(b) Aggregate Principal Amount in Relation to Sale of Bank Notes. The Issuing Bank shall not approve the solicitation of purchases of
Bank Notes in excess of the aggregate principal amount of such Bank Notes which shall be authorized. Bank Notes may be outstanding at any one time in an aggregate maximum principal amount equal to US$25,000,000,000, inclusive of any notes
outstanding which have been issued prior to the date of this Offering Circular by the Bank or entities that have been acquired by the Bank. The Dealers will have no responsibility for maintaining records with respect to the aggregate principal
amount of Bank Notes sold or at any time outstanding or of otherwise monitoring the availability of Bank Notes for sale. 
 (c) Purchases
as Principal. The Dealers shall not have any obligation to purchase Bank Notes from the Issuing Bank as principal, but the Dealers may agree from time to time to purchase Bank Notes as principal. Any such purchase of Bank Notes by a Dealer as
principal shall be made in accordance with Section 3(a) hereof. 
 (d) Solicitations as Agent. The Issuing Bank and each Dealer
will, in connection with the offering of the Bank Notes on behalf of the Issuing Bank, comply with the restrictions on the offering of Bank Notes and distribution of documents relating thereto set forth in the Disclosure Package and the Offering
Circular under the caption “Plan of Distribution” or such other restrictions agreed to by the Issuing Bank and such Dealer. The Dealer will communicate to the Issuing Bank, orally, each offer to purchase Bank Notes solicited by such Dealer
on an agency basis, other than those offers rejected by the Dealer. The Dealer shall have the right, in its absolute discretion, to reject any proposed purchase of Bank Notes, as a whole or in part, and any such rejection shall not be deemed a
breach of any Dealer’s agreement contained herein. The Issuing Bank may accept or reject any proposed purchase of the Bank Notes, in whole or in part. The Dealer shall make reasonable efforts to assist the Issuing Bank in obtaining performance
by each purchaser whose offer to purchase Bank Notes has been solicited by the Dealer and accepted by the Issuing Bank. A Dealer shall not have any liability to the Issuing Bank in the event any such agency purchase is not consummated for any reason
other than as a result of the default by the applicable Dealer of its obligations hereunder. If the Issuing Bank shall default on its obligation to deliver Bank Notes to a purchaser whose offer it has accepted, the Issuing Bank shall (i) hold
the Dealer harmless against any loss, claim or damage arising from or as a result of such default by the Issuing Bank and (ii) notwithstanding such default, pay to the Dealer any commission to which it would be entitled in connection with such
sale. 
 (e) Reliance. The Issuing Bank and the Dealers agree that any Bank Notes purchased by any Dealer shall be purchased, and any
Bank Notes the placement of which a Dealer arranges shall be placed, by such Dealer in reliance on the representations, warranties, covenants and agreements of the Issuing Bank contained herein and on the terms and conditions and in the manner
provided herein. 

  
 2 

 SECTION 2. Representations and Warranties. 

(a) The Issuing Bank represents and warrants to each Dealer as of the date hereof, as of the date of each acceptance by the Issuing Bank of an
offer for the purchase of Bank Notes (whether to a Dealer as principal or through a Dealer as agent), as of the date of each delivery of Bank Notes (whether to a Dealer as principal or through a Dealer as agent) (the date of each such delivery to a
Dealer as principal being hereafter referred to as a “Settlement Date”), as of each Applicable Time (as defined below) and as of each time the Offering Circular or the Disclosure Package shall be amended or supplemented (each of the
times referenced above being referred to hereafter as a “Representation Date”), as follows: 
 (i)
Offering Circular; Disclosure Package. The Issuing Bank has caused to be prepared an offering circular, dated January 16, 2014, to be used by the Dealers in connection with the Dealers’ solicitation of purchasers of or offering of
the Bank Notes. Such offering circular, in the form transmitted for filing with the Office of the Comptroller of the Currency of the United States (the “OCC”) pursuant to 12 C.F.R. Section 16.6 is referred to herein as the
“Offering Circular”; provided, however, that if any amendment or supplement shall be provided to the Dealers by the Issuing Bank expressly for use from and after the time it is first provided to the Dealers in
connection with the offering of the Bank Notes, whether or not the same is required to be filed with the OCC pursuant to 12 C.F.R. Section 16.6 or otherwise, the term “Offering Circular” shall be deemed to refer to and include such
amendment or supplement from and after the time it is first provided to the Dealers for use. Any reference to the Offering Circular shall be deemed to refer to and include all documents incorporated by reference including the Call Reports and the
Periodic Reports (as such terms are hereinafter defined) incorporated by reference therein, and any reference herein to the terms “amend,” “amendment” or “supplement” with respect to the Offering Circular shall be
deemed to include the filing of any Call Report or Periodic Report with any bank regulatory agency or the SEC after the date of this Agreement or the Offering Circular, as the case may be. 

The Issuing Bank has been authorized by the Parent to incorporate by reference in the Offering Circular, and will incorporate
by reference in the Offering Circular, the Parent’s annual reports on Form 10-K for its most recently ended fiscal year, quarterly reports on Form 10-Q since the last day of its most recently ended fiscal year, current reports on Form 8-K since
the last day of its most recently ended fiscal year (other than information therein that, under the rules of the SEC, is deemed not to have been filed) and any other document filed by the Parent with the SEC pursuant to Sections 13(a), 13(c), 14 or
15(d) of the Securities Exchange Act of 1934, as amended (the “1934 Act”), and the rules and regulations thereunder (the “Periodic Reports”). The Offering Circular, as of the date hereof, does not and, as of the
applicable Representation Date, will not, contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made therein, in light of the circumstances under which they are made, not
misleading; provided, however, that the representations and warranties in this subsection shall not apply to statements in the Offering Circular made in reliance upon and in conformity with information furnished to the Issuing Bank in
writing by or on behalf of the Dealers expressly for use therein (as of the date hereof all such information so provided by the Dealers is set forth in Schedule 2(a)(i) hereto). 

  
 3 

 The Issuing Bank will incorporate by reference in the Offering Circular the
publicly available portions of each of its Consolidated Reports of Condition and Income (each, a “Call Report” and collectively, the “Call Reports”) (i) for the period ended December 31st for each of the three most recently completed years, and (ii) all Call Reports and any amendments or supplements thereto filed or published after December 31st of the most recently completed year, to and including the most recent Call Report filed or published prior to the offering of any Bank Notes. The publicly available portions of any Call Reports
filed by the Issuing Bank subsequent to the date of the Offering Circular and prior to the termination of the offering of the Bank Notes will be incorporated therein by reference. 

The Disclosure Package as of the Applicable Time will not include any untrue statement of material fact or omit to state a
material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading; provided, however, that the representations and warranties in this subsection shall not
apply to statements in the Disclosure Package made in reliance upon and in conformity with information furnished to the Issuing Bank in writing by or on behalf of the Dealers expressly for use therein (as of the date hereof all such information so
provided by the Dealers is set forth in Schedule 2(a)(i) hereto). 
 Any individual Supplemental Offering Materials (as
defined herein) when considered together with the Disclosure Package, will not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading; provided, however, that the representations and warranties in this subsection shall not apply to statements in such Supplemental Offering Materials made in reliance upon and in conformity
with information furnished to the Issuing Bank in writing by or on behalf of the Dealers expressly for use therein. 
 As
used herein, “Supplemental Offering Materials” means any “written communication” (within the meaning of the regulations of the SEC under the 1933 Act), other than the Offering Circular and the Disclosure Package, prepared by or
on behalf of the Parent or the Issuing Bank, that constitutes an offer to sell or a solicitation of an offer to buy the Bank Notes, including without limitation any “road show” as defined in Rule 433 under the Securities Act relating to
the Bank Notes that constitutes such a written communication. 
 “Applicable Time” means such time as agreed
between the Issuing Bank and the Dealers to whom or through whom the issue of Bank Notes are being sold in (i) a Syndicated Terms Agreement (as defined in Section 3(a)) or (ii) any other written agreement of the Issuing Bank and such
Dealers. 
 “Disclosure Package” means the Offering Circular, together with the information, if any, identified as
being part of the Disclosure Package in (i) a Syndicated Terms Agreement or (ii) any other written agreement of the Issuing Bank and the Dealers to whom or through whom the issue of Bank Notes is being sold. 

  
 4 

 The documents of the Issuing Bank incorporated by reference in the Offering
Circular or the Disclosure Package, at the time they were or hereafter are filed with the applicable federal regulatory authorities (as amended prior to the date hereof or, if amended hereafter, prior to the applicable Representation Date),
complied, or when so filed will comply, in all material respects, with all applicable laws, rules and regulations. The documents of the Parent incorporated by reference in the Offering Circular or the Disclosure Package, at the time they were or
hereafter are filed with the U.S. Securities and Exchange Commission (the “SEC”) (as amended prior to the date hereof or, if amended hereafter, prior to the applicable Representation Date), complied or when so filed will comply in all
material respects with the 1934 Act and the rules and regulations thereunder. Such documents of the Bank and the Parent, when read together with the other information in the Offering Circular and the Disclosure Package, did not and, when so filed,
will not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances in which they were or are made, not
misleading. 
 (ii) Due Organization, Valid Existence and Good Standing. The Issuing Bank is a national banking
association duly organized, validly existing and in good standing under the laws of the United States and is licensed, registered or qualified to conduct the business in which it is engaged in each jurisdiction in which the conduct of its business
or its ownership or leasing of property requires such license, registration or qualification, except to the extent that the failure to be so licensed, registered or qualified or to be in good standing would not have a material adverse effect on the
Issuing Bank and its subsidiaries taken as a whole. The Issuing Bank is an insured depository institution under the provisions of the Federal Deposit Insurance Act, as amended (the “FDI Act”). The deposit accounts at the Issuing
Bank are insured by the Federal Deposit Insurance Corporation (“FDIC”) to the fullest extent permitted by law and the rules and regulations of the FDIC, and no proceedings for the termination or revocation of such insurance are
pending, or, to the knowledge of the Issuing Bank, threatened. The Issuing Bank is a subsidiary of the Parent, a Pennsylvania corporation registered as a bank holding company under the Bank Holding Company Act of 1956, as amended, which has
securities registered under the 1934 Act. 
 (iii) Due Authorization, Execution and Delivery of this Agreement, the Agency
Agreement and the Interest Calculation Agreement. The Issuing Bank has all corporate power and authority necessary to execute, deliver and perform, and it has duly authorized, executed and delivered, this Agreement, the Issuing and Paying Agency
Agreement dated as of January 16, 2014 (the “Agency Agreement”), between the Issuing Bank and PNC Bank, National Association, as issuing and paying agent, and the Interest Calculation Agreement dated as of January 16, 2014
(the “Interest Calculation Agreement”), between the Issuing Bank and PNC Bank, National Association, as the interest calculation agent (in such capacity, the “Calculation Agent,” which term shall include any
successor thereto). This Agreement, the Agency Agreement and the Interest Calculation Agreement are valid and legally binding agreements of the Issuing Bank, enforceable against the Issuing Bank in accordance with their respective terms, subject to
applicable bankruptcy, liquidation, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to, or affecting, the rights of creditors of national banking associations, including laws relating to
conservatorship and receivership of insured depository institutions, and to general equity principles. 

  
 5 

 (iv) Due Authorization, Execution and Delivery of the Bank Notes. The Bank
Notes have been duly authorized and, when duly completed, executed, authenticated, issued and delivered against payment of the consideration therefor in accordance with the provisions of the Agency Agreement and this Agreement, as specified in the
Offering Circular or pursuant to any agreement with respect to the purchase of such Bank Notes, will constitute valid and legally binding obligations of the Issuing Bank enforceable in accordance with their respective terms, subject to applicable
bankruptcy, liquidation, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to, or affecting, the rights of creditors of national banking associations, including laws relating to
conservatorship and receivership of insured depository institutions, and to general equity principles. 
 (v) Regulatory
Exemptions. The Bank Notes to be issued by the Issuing Bank are exempt from registration under the Securities Act of 1933, as amended (the “1933 Act”) by virtue of Section 3(a)(2) thereof. Qualification of an indenture
under the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), is not required in connection with the offer, sale, issuance and delivery of the Bank Notes as contemplated hereby. Assuming compliance by the Dealers
with the covenant set forth in Section 3(e) and Section 3(f) hereof (but with respect to such Section 3(f), only insofar as a failure to comply therewith would result in the creation of an offering document or any amendments (as such
terms are defined for purposes of 12 C.F.R. Section 16.6(a)(5)) that the Bank has not filed and is unable to file with the OCC on or prior to the fifth business day after such offering document or amendment is first used), the Bank Notes are
eligible for offer and sale pursuant to 12 C.F.R. Part 16 (including 12 C.F.R. Section 16.6), and all requirements of 12 C.F.R. Part 16 (including 12 C.F.R. Section 16.6) have been and will be satisfied in connection with the offer, sale,
issuance or delivery of the Bank Notes pursuant to this Agreement and any agreement with a Dealer to purchase such Bank Notes as principal, except that the Offering Circular and any amendments thereto (other than amendments which contain only
pricing information relating to a particular transaction, updated financial information concerning the Issuing Bank or non-material information relating to the Bank Note program) must be filed by the Issuing
Bank with the OCC no later than the fifth business day after first use pursuant to 12 C.F.R. Section 16.6. 
 (vi)
Exemption from Investment Company Act. The Issuing Bank is not required to register under the provisions of the Investment Company Act of 1940, as amended (the “Investment Company Act”). 

(vii) No Defaults. Neither the Issuing Bank or any of its subsidiaries nor the Parent or any of its subsidiaries is in
violation of its charter or in default in the performance or observance of any obligation, agreement, covenant or condition contained in any contract, indenture, mortgage loan agreement, note, lease or other instrument to which it is a party or by
which it or any of them or their properties are bound, except to the extent that such defaults would not in the aggregate have a material adverse effect on 

  
 6 

 
the Issuing Bank and its subsidiaries taken as a whole or on the Parent and its subsidiaries taken as a whole or materially and adversely affect the consummation of the transactions contemplated
by, or the ability of the Issuing Bank to perform its obligations under, this Agreement, the Bank Notes, the Issuing and Paying Agency Agreement, the Interest Calculation Agreement or any applicable terms agreement (“Material Adverse
Effect”). The execution, delivery and performance by the Issuing Bank of this Agreement, the Agency Agreement, the Interest Calculation Agreement, the Bank Notes and any agreement with a Dealer to purchase such Bank Notes as principal, will not
(A) constitute a breach of, or default under, the articles of association or by-laws or other organizational documents of the Issuing Bank or any of its subsidiaries or the Parent or any of its subsidiaries (B) constitute a breach of, or
default under, any obligation, agreement, covenant or condition in any contract, indenture, mortgage loan agreement or other instrument relating to indebtedness for money borrowed to which the Issuing Bank or the Parent is a party, or
(C) violate any law, order, rule, regulation or decree applicable to the Issuing Bank or any of its subsidiaries or the Parent or any of its subsidiaries or any property of the Issuing Bank or any of its subsidiaries or the Parent or any of its
subsidiaries except with respect to (B) and (C) for those breaches, defaults or violations that would result in a Material Adverse Effect. 

(viii) No Other Approvals Required. Assuming for purposes of 12 C.F.R. Part 16 compliance by the Dealers with the
covenants set forth in Section 3(e) and Section 3(f) hereof (but with respect to such Section 3(f), only insofar as a failure to comply therewith would result in the creation of an offering document or any amendments (as such terms
are defined for purposes of 12 C.F.R. Section 16.6(a)(5)) that the Bank has not filed and is unable to file with the OCC on or prior to the fifth business day after such offering document or amendment is first used), no consent, approval,
authorization, order, registration or qualification of, or filing or notice with, any court or governmental body or agency is required for the offering and sale of the Bank Notes or the performance by the Bank of its obligations under this
Agreement, any applicable Terms Agreement, the Bank Notes, the Agency Agreement, or the Interest Calculation Agreement, except (A) such as may be required by the securities or Blue Sky laws of the various states, (B) that the Offering
Circular and any amendments thereto (other than amendments which contain only pricing information relating to a particular transaction, updated financial information concerning the Issuing Bank or non material information relating to the Bank Note
program) must be filed by the Issuing Bank with the OCC no later than the fifth business day after first use pursuant to 12 C.F.R. Section 16.6, (c) with respect to Subordinated Notes, notice must be filed with the OCC pursuant to 12
C.F.R. Section 5.47 in order for such Subordinated Notes to be counted as Tier 2 capital of the Issuing Bank, (d) for the Issuing Bank, pursuant to Section 38(h)(2) of the FDI Act, to make payment on the Subordinated Notes in the
event the Issuing Bank becomes “critically undercapitalized” within the meaning of Section 38(b)(1)(E) of the FDI Act and (e) to the extent that the failure to obtain any consent, approval or authorization, or make any filing,
would not in the aggregate have a Material Adverse Effect. Except for those that have been obtained prior to the date hereof or the applicable Representation Date, no approval or authorization of the Parent is required for the Issuing Bank to enter
into, or to perform any of its obligations under, this Agreement, the Bank Notes, the Issuing and Paying Agency Agreement, the Interest Calculation Agreement and any applicable terms agreement. 

  
 7 

 (ix) OCC Notice. The Issuing Bank has not received notice from the OCC
that the OCC’s prior approval to issue or prepay Subordinated Notes is required under Section 5.47(f) of 12 C.F.R. Part 5. 

(x) Description of Bank Notes. The Bank Notes are substantially in the form heretofore delivered to the Dealers and
conform to the description thereof contained in the Offering Circular and the Disclosure Package under the caption “Description of the Notes”. 

(xi) Priority of Bank Notes. The Senior Notes are unsecured and unsubordinated debt obligations of the Issuing Bank and
rank pari passu among themselves and with all other unsecured and unsubordinated debt obligations of the Issuing Bank except, pursuant to Section 11(d)(11) of the Federal Deposit Insurance Act, the Issuing Bank’s unsecured deposit
liabilities (including any claims by the FDIC as the subrogee of insured depositors) and claims for administrative expenses of the FDIC as receiver for the Issuing Bank; the Subordinated Notes are unsecured and subordinated debt obligations of the
Issuing Bank and rank pari passu among themselves and with all other debt obligations of the Issuing Bank which are subordinate and junior in right of payment to the Issuing Bank’s obligations to depositors and general creditors, other
than obligations which, by their express terms, rank junior to the Subordinated Notes. 
 (xii) No Material Adverse
Change. Since the respective dates as of which information is given in the Offering Circular or the Disclosure Package, as each may be amended or supplemented prior to the Applicable Time, there has not been any material adverse change in the
condition, financial or otherwise, business affairs, business prospects or results of operations, or any development reasonably likely to result in a prospective material adverse change in the condition, financial or otherwise, business affairs,
business prospects or results of operations of the Issuing Bank and its subsidiaries, or the Parent and its subsidiaries, as the case may be, considered as one enterprise, whether or not arising in the ordinary course of business, other than as set
forth or contemplated in the Offering Circular or the Disclosure Package. 
 (xiii) Financial Statements and Financial
Information. The consolidated financial statements and other financial information of the Parent and its consolidated subsidiaries included or incorporated by reference in the Offering Circular or the Disclosure Package, together with the
related schedules and notes, fairly present in all material respects the consolidated financial position of the Parent and its consolidated subsidiaries as of the dates indicated therein and the consolidated results of their operations for the
periods specified therein; and, except as stated therein, such financial statements have been prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis, and in the case of interim
financial statements subject to year-end adjustments. The Call Reports and other financial information of the Issuing Bank included or incorporated by reference in the Offering Circular or the Disclosure Package fairly present in all material
respects the 

  
 8 

 
financial position of the Issuing Bank and the results of its operations for the periods specified therein; and, except as stated therein, have been prepared in conformity with regulatory
instructions issued by the Federal Financial Institution Examination Council applied on a consistent basis. The financial information of certain financial institutions, if any, acquired or proposed to be acquired by the Parent or the Issuing Bank
included or incorporated by reference in the Offering Circular or the Disclosure Package fairly present in all material respects the financial positions of such financial institutions as of the dates indicated therein and the results of their
operations for the periods specified therein. 
 (xiv) Legal Proceedings. Except as may be set forth in the Offering
Circular or the Disclosure Package, there is no action, suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now pending, or, to the knowledge of the Issuing Bank, threatened against, the Parent or the
Issuing Bank or any of their respective subsidiaries which could reasonably be expected to have a Material Adverse Effect. 

(xv) Relationship with Agents. The Issuing Bank acknowledges and agrees that (a) the offering or purchase and sale
of the Bank Notes pursuant to this Agreement from time to time, including the determination of the terms of the Bank Notes and the offering thereof, is an arm’s-length commercial transaction between the
Issuing Bank, on the one hand, and the several Dealers, on the other hand, (b) in connection with any offering pursuant to this Agreement and the process leading to such offering each Dealer is and has been acting solely as a principal or
placement agent, as the case may be, and not a fiduciary of the Parent or the Issuing Bank, or their respective stockholders, creditors, employees or any other party, (c) no Dealer has assumed or will assume an advisory or fiduciary
responsibility in favor of the Parent or the Issuing Bank with respect to any offering pursuant to this Agreement or the process leading thereto (irrespective of whether such Dealer has advised or is currently advising the Parent or the Issuing Bank
on other matters) and no Dealer has any obligation to the Issuing Bank with respect to any offering pursuant to this Agreement except the obligations expressly set forth in this Agreement, (d) the Dealers and their respective affiliates may be
engaged in a broad range of transactions that involve interests that differ from those of the Parent or the Issuing Bank and (e) the Dealers have not provided any legal, accounting, regulatory or tax advice with respect to any offering
contemplated hereby and each of the Parent and the Issuing Bank has consulted its own legal, accounting, regulatory and tax advisors to the extent it deemed appropriate. 

(xvi) Internal Controls. Parent and its subsidiaries maintain (i) disclosure controls and procedures (as such term
is defined in Rule 13a-15(e) under the Exchange Act) that it evaluates on a regular basis as required under the Exchange Act and, as a result of its most recent review thereof required under the Exchange Act, determined that such controls and
procedures were effective, (ii) internal control over financial reporting (as such term is defined in Rule 13a-15(f) of the Exchange Act) that it evaluates on a regular basis as required under the Exchange Act and, as a result of its most
recent review thereof required under the Exchange Act, determined that such internal control over financial reporting was effective and (iii) a system of internal accounting controls 

  
 9 

 
sufficient to provide reasonable assurance that (A) transactions are executed in accordance with management’s general or specific authorizations; (B) transactions are recorded as
necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (C) access to assets is permitted only in accordance with management’s general or
specific authorization; and (D) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Other than as disclosed in the Offering
Circular and the Disclosure Package, Parent is not aware of any material weaknesses in the internal control over financial reporting of Parent and its subsidiaries. 

(xvii) No Unlawful Contributions or Other Payments. Neither the Issuing Bank nor any of its subsidiaries nor, to the
knowledge of the Issuing Bank, any director, officer, agent (in its capacity as such), employee or affiliate of the Issuing Bank or any of its subsidiaries has taken any action, directly or indirectly, that would result in a violation by such
persons of the Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”), including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment,
promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or any foreign
political party or official thereof or any candidate for foreign political office, in contravention of the FCPA and the Issuing Bank, its subsidiaries and, to the knowledge of the Issuing Bank, its affiliates have conducted their businesses in
compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith. 

(xviii) No Conflict with Money Laundering Laws. To the knowledge of the Issuing Bank, the operations of the Issuing Bank
and its subsidiaries are in material compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable
jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”), and there is no
action, suit or proceeding by a governmental agency, authority or body involving the Issuing Bank or any of its subsidiaries with respect to the Money Laundering Laws pending or, to the best knowledge of the Issuing Bank, threatened. 

(xix) No Conflict with OFAC Laws. None of the Issuing Bank, any of its subsidiaries or, to the knowledge of the Issuing
Bank, any director, officer, agent (in its capacity as such), employee or affiliate of the Issuing Bank or any of its subsidiaries is currently subject to any U.S. sanctions administered or enforced by the Office of Foreign Assets Control of the
U.S. Department of the Treasury (“OFAC”) or the U.S. Department of State; and the Issuing Bank will not directly or indirectly use the proceeds of the offering of the Bank Notes hereunder, or lend, contribute or otherwise make available
such proceeds to any subsidiary, joint venture partner or other individual, entity or vessel, for the purpose of financing the activities or business of or with any individual, entity or vessel, or in any country or territory, if such financing is,
at the time thereof prohibited by any U.S. sanctions administered or enforced by OFAC or the U.S. Department of State. 

  
 10 

 (b) Additional Certifications. Any certificate signed by any officer of the Issuing Bank
or the Parent and delivered to the Dealers or to counsel for the Dealers in connection with an offering of Bank Notes, or the sale of Bank Notes to a Dealer as principal, contemplated by this Agreement shall be deemed a representation and warranty
at the time made by the Issuing Bank to the Dealers as to the matters covered thereby on the date of such certificate and at each Representation Date referred to in Section 2(a) hereof subsequent thereto relating to such offering or sale. 

SECTION 3. Purchases as Principal; Solicitations as Agents. 

(a) Purchases as Principal. Unless otherwise agreed by a Dealer and the Issuing Bank, Bank Notes shall be purchased by the Dealer as
principal. Such purchases shall be made in accordance with terms agreed upon by the Dealer and the Issuing Bank with respect to such information (as applicable) as is specified in Exhibit A hereto (which terms shall be agreed upon orally,
with written confirmation prepared by the Dealer and sent via electronic transmission to the Issuing Bank) and, in the case of sales to Dealers on a syndicated basis, a separate terms agreement substantially in the form of Exhibit E-2 hereto
(a “Syndicated Terms Agreement”). The Dealer’s commitment to purchase Bank Notes as principal from the Issuing Bank shall be deemed to have been made on the basis of the representations and warranties of the Issuing Bank herein
contained and shall be subject to the terms and conditions herein set forth. Each purchase of Bank Notes shall be at a discount from the principal amount of each such Bank Note with such discount being agreed upon between the Issuing Bank and the
applicable Dealer at the time of commencement of the applicable solicitation. The Dealer may engage the services of any other broker or dealer in connection with the resale of the Bank Notes purchased as principal and may allow any portion of the
discount received from the Issuing Bank in connection with such purchases to such brokers and dealers. At the time of each purchase of Bank Notes by a Dealer as principal, the applicable Terms Agreement shall also specify the requirements for the
opinions of counsel, officers’ certificates, representations certificates, and comfort letters pursuant to Sections 6(a), 6(b), 6(c) and 6(e) hereof. The resale of any Bank Notes acquired by such Dealer as principal shall be subject to all of
the applicable selling restrictions set forth in the Disclosure Package and the Offering Circular under the caption “Plan of Distribution” or such other restrictions agreed to by the Issuing Bank and such Dealer. 

(b) Solicitations as Agents. On the basis of the representations and warranties herein contained, but subject to the terms and
conditions herein set forth, in the Disclosure Package and in the Offering Circular , when agreed upon by the Issuing Bank and a Dealer, such Dealer, as an agent of the Issuing Bank, will use its reasonable efforts to solicit offers to purchase the
Bank Notes upon the terms and conditions set forth herein and in the Offering Circular and to consummate any agency purchase resulting from the acceptance of such an offer by the Bank. All Bank Notes sold through a Dealer as agent will be sold at
100% of their principal amount unless otherwise agreed to by the Issuing Bank and the Dealer. 
 The Issuing Bank reserves the right, in its
sole discretion, to suspend solicitation of purchases of the Bank Notes through the Dealers, as agents, commencing at any time for any 

  
 11 

 
period of time or permanently. Upon receipt of instructions from the Issuing Bank, the Dealers will forthwith suspend solicitation of purchases from the Issuing Bank until such time as the
Issuing Bank has advised the Dealers that such solicitation may be resumed. 
 The Issuing Bank agrees to pay each Dealer a commission, in
the form of a discount, equal to the applicable percentage of the principal amount of each Bank Note sold by the Issuing Bank as a result of a solicitation made by such Dealer as agreed by the Issuing Bank and the applicable Dealer at the time of
commencement of the applicable solicitation. The amount of such commission shall be set forth in the written confirmation relating to such sale and in the pricing supplement referred to in Section 4(f). The Dealers may reallow any portion of
the commission payable pursuant hereto to dealers in connection with the offer and sale of any Bank Notes. 
 (c) Administrative
Procedures. The purchase price, interest rate or formula, maturity date, discount or commission amount and other terms of the Bank Notes (as applicable) shall be agreed upon by the Issuing Bank and the applicable Dealer and set forth in a
pricing supplement to the Offering Circular, substantially in the form attached hereto as Exhibit A, to be prepared in connection with each sale of Bank Notes. Administrative procedures with respect to the sale of Bank Notes shall be set
forth in Exhibit A to the Agency Agreement (the “Procedures”). The Dealers and the Issuing Bank agree to perform the respective duties and obligations specifically provided to be performed by the Dealers and the Issuing Bank herein
and in the Procedures. 
 (d) Delivery. The documents required to be delivered pursuant to Section 6 hereof on the date hereof
shall be delivered at the office of Cravath, Swaine & Moore LLP, 825 Eighth Avenue, New York, New York 10019, on the date hereof at 10:00 a.m. New York time, or at such other place and time as the Dealers and the Issuing Bank may agree upon
in writing (the “Closing Time”). 
 (e) Offering and Sale of Bank Notes. The Issuing Bank and the Dealers agree that
the Bank Notes are to be offered and sold as set forth in the Offering Circular. Each Dealer hereby severally represents and warrants to, and agrees with, the Issuing Bank that, in relation to Bank Notes to be issued and sold in reliance upon 12
C.F.R. Part 16.6(a), it will only offer and sell Bank Notes to, or accept offers to purchase Bank Notes from, persons it reasonably believes are “accredited investors” (as defined in Rule 501(a) under the 1933 Act) in minimum denominations
of not less than $250,000, and it will deliver the Offering Circular or the Disclosure Package within the timeframe required by 12 C.F.R. Part 16.6(a)(5) to each such participating investor. 

(f) Limitation on Other Offering Documents. No Dealer is authorized by the Issuing Bank, without the consent of the Issuing Bank, to
provide any information or to make any representations relating to the Bank Notes not contained or incorporated by reference in the Offering Circular, the Disclosure Package or any Supplemental Offering Materials (or any amendment or supplement
thereto) or in any material published or supplied by a rating agency to any purchaser or potential purchaser in connection with the sale or solicitation of offers to purchase any Bank Note of the Issuing Bank. 

  
 12 

 SECTION 4. Covenants of the Issuing Bank. 

The Issuing Bank covenants with the Dealers as follows: 

(a) Amending Offering Circular or Disclosure Package. The Issuing Bank will give the Dealers notice of its intention to prepare any
additional offering circular supplement with respect to the sale of Bank Notes or any amendment or supplement to the Offering Circular, the Disclosure Package or any Supplemental Offering Material (excluding pricing supplements with respect to those
Dealers not involved with respect to the sale of the Bank Notes covered thereby, and excluding any deemed amendment of the Offering Circular resulting from future filings of any documents incorporated by reference other than any such filings after
the date on which the Issuing Bank has agreed to issue Bank Notes and prior to the Settlement Date for such issuance) and will furnish the Dealers with copies of any such amendment or supplement or other documents proposed to be distributed a
reasonable time in advance of such distribution and will not distribute any such amendment or supplement or other documents in a form to which the Dealers or counsel for the Dealers shall reasonably object (it being understood that the foregoing
shall not be construed to prevent the Issuing Bank or the Parent from making any filing with the OCC or the SEC of any such documents to be incorporated by reference to the extent that the Issuing Bank or the Parent determines such filings are
required by the applicable law, rule or regulation). The Issuing Bank will promptly cause such amendment or supplement to the Offering Circular, the Disclosure Package or any Supplemental Offering Material to be filed with the OCC when and to the
extent required by 12 C.F.R. Part 16 and will promptly advise the Dealers of the filing of any such amendment or supplement to the Offering Circular or the Disclosure Package with the OCC. In addition, the Issuing Bank will advise the Dealers of
(i) any request of any bank regulatory agency or the SEC for any amendment of or supplement to the Offering Circular or the Disclosure Package (including, without limitation, the documents incorporated by reference therein) or for any
additional information with respect to such documents or otherwise related to the offering of the Bank Notes; (ii) the institution or threat by any bank regulatory agency or the SEC of any proceeding with respect to the Offering Circular or the
Disclosure Package (including, without limitation, the documents incorporated by reference therein) or any amendment or supplement thereto or the offering or sale of the Bank Notes, and (iii) the receipt by the Issuing Bank of any notification
with respect to the suspension of the qualification of the Bank Notes for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose. The Issuing Bank will use its reasonable best efforts to prevent the issuance of
any order or similar action interfering with the offering or sale of the Bank Notes or the use of the Offering Circular or the Disclosure Package, and, if issued, to obtain as soon as possible the withdrawal thereof. 

(b) Copies of Offering Circular and Disclosure Package. The Issuing Bank will deliver to the Dealers as many copies of the Offering
Circular and the Disclosure Package (as amended or supplemented, including documents incorporated by reference therein) as the Dealers shall reasonably request in connection with sales or solicitations of offers to purchase the Bank Notes. 

(c) Revisions of Offering Circular or Disclosure Package — Material Changes. Except as otherwise provided in subsection
(d) of this Section 4, if any event shall occur or condition exist as a result of which it is necessary to (i) amend or supplement the 

  
 13 

 
Offering Circular in order that the Offering Circular will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made
therein, in light of the circumstances existing at any Representation Date or the time it is delivered to a purchaser or (ii) amend or supplement the Disclosure Package in order that the Disclosure Package will not include any untrue statement
of a material fact or omit to state a material fact necessary in order to make the statements made therein not misleading in the light of the circumstances existing at any Representation Date or the time it is delivered to a purchaser, in each case
prompt notice shall be given, to the Dealers to cease the solicitation of offers to purchase the Bank Notes in their capacity as agents and to cease sales of any Bank Notes the Dealers may then own as principal, and the Issuing Bank will promptly
prepare such amendment or supplement as may be necessary to correct such untrue statement or omission. The Dealers shall, at such time as the Issuing Bank shall have furnished to the Dealers an amended or supplemented Offering Circular or an amended
or supplemented Disclosure Package, as the case may be, in each case in form reasonably satisfactory to the Dealers and their counsel, resume solicitation of offers to purchase Bank Notes using the Offering Circular or the Disclosure Package, as the
case may be, as so amended and supplemented. 
 (d) Suspension of Certain Obligations. The Issuing Bank shall not be required to
comply with the provisions of subsection (c) of this Section 4 or the provisions of Section 8(b), 8(c),8(d), or 8(e) hereof (it being understood that the Issuing Bank may not resume any solicitation hereunder until such provisions are
complied with) during any period from the later of the time (i) the Dealers shall have suspended solicitation of purchases of the Bank Notes in their capacity as agents pursuant to a request from the Issuing Bank and (ii) no Dealer shall
then hold any Bank Notes purchased as principal pursuant hereto, until the time the Issuing Bank shall determine the solicitation of purchases of the Bank Notes should be resumed or the Dealers shall subsequently purchase Bank Notes from the Issuing
Bank as principal pursuant hereto. 
 (e) Regulatory Reports. The Issuing Bank shall provide the Dealers upon request with copies of
the publicly available portions of the Issuing Bank’s Call Reports and copies of any Periodic Reports of the Parent as promptly as practicable after such reports become publicly available except for Call Reports and Periodic Reports that are
filed electronically and available without charge on a publicly accessible Internet web site. 
 (f) Preparation of Pricing
Supplements. The Issuing Bank will prepare, with respect to any Bank Notes to be sold through or to the Dealers pursuant to this Agreement, a pricing supplement with respect to such Bank Notes substantially in the form attached hereto as
Exhibit A, and, if required by 12 C.F.R. Section 16.6, will file such pricing supplement with the OCC no later than the time required for such filing. 

(g) Blue Sky Qualifications. The Issuing Bank will endeavor, in cooperation with the Dealers, to qualify the Bank Notes for offering
and sale under the applicable securities laws of such States and other jurisdictions of the United States as the Dealers may reasonably designate, and will maintain such qualifications in effect for as long as may be required for the distribution of
the Bank Notes; provided, however, that the Issuing Bank shall not be required to take any action which would subject it to general or unlimited service of process or to qualify as a foreign corporation in any jurisdiction in which it
is not so qualified or become subject to taxation in any jurisdiction in which it is not otherwise subject. The Issuing Bank will file such 

  
 14 

 
statements and reports as may be required by the laws of each jurisdiction in which the Bank Notes have been qualified as above provided. The Issuing Bank will promptly advise the Dealers of the
receipt by it of any notification with respect to the suspension of the qualification of the Bank Notes for sale in any such State or jurisdiction or the initiating or threatening of any proceeding for such purpose. 

(h) Required Filings. The Issuing Bank will make the filings required by 12 C.F.R. Section 16.6 with respect to the Bank Notes and
by 12 C.F.R. Section 5.47 with respect to inclusion of the Subordinated Notes in Tier 2 capital when and as required by such provisions. Without limiting the foregoing, the Issuing Bank agrees to file the Offering Circular, any Disclosure
Package and any Supplemental Offering Materials with the OCC when and as required by 12 C.F.R. Part 16. 
 (i) Stand-Off Agreement.
In connection with a purchase by a Dealer of Bank Notes as principal, between the date of the agreement to purchase such Bank Notes and the Settlement Date with respect to such purchase, the Issuing Bank will not, without the prior consent of the
Dealer who is a party to such agreement, offer or sell, or enter into any agreement to sell, any debt securities of the Issuing Bank substantially similar to the Bank Notes (other than the Bank Notes that are to be sold pursuant to such agreement,
Bank Notes sold to Parent or to any other subsidiary of Parent, deposit and other bank obligations issued and sold directly by the Issuing Bank in the ordinary course of its business and debt instruments described in Section 3(a)(3) of the 1933
Act). 
 (j) Termination of Purchaser Obligations. The Issuing Bank agrees that any person who has agreed to purchase Bank Notes as
the result of an offer to purchase solicited by a Dealer has the right, exercisable only prior to such purchase, to refuse to purchase and pay for such Bank Notes if, on the related Settlement Date fixed pursuant to the Procedures, any event or
condition set forth in Section 12(b) hereof shall have occurred and be continuing on such date (it being understood that the judgment of such person with respect to the impracticability of such purchase of the Bank Notes shall be substituted,
for purposes of this Section 4(j), for the respective judgment of such Dealer with respect to certain matters referred to in such Section 12(b), and that such Dealer shall have no duty or obligation whatsoever to exercise the judgment
permitted under such Section 12(b) on behalf of any such person). 
 (k) No Other Offering Documents. The Issuing Bank will not,
unless it obtains the prior consent of the Dealers to whom or through whom a particular issue of Bank Notes is to be sold, use any Supplemental Offering Materials with respect to such Bank Notes. 

SECTION 5. Payment of Expenses. 
 Whether
or not the transactions contemplated hereunder are consummated or this Agreement or any agreement by a Dealer to purchase Bank Notes as principal is terminated, the Issuing Bank agrees to pay or cause to be paid all expenses incident to the
performance of its obligations under this Agreement including: (a) the printing, preparation and delivery of the Offering Circular, the Disclosure Package, any Supplemental Offering Materials and all amendments and supplements thereto;
(b) the preparation and reproduction of this Agreement; (c) the preparation, issuance and delivery of the Bank Notes, including any fees and expenses 

  
 15 

 
related to the use of book-entry notes; (d) the fees and disbursements of the Issuing Bank’s counsel and accountants and of any calculation agents or exchange rate agents; (e) any
reasonable advertising and other out-of-pocket expenses of the Dealers incurred with the approval of the Issuing Bank; (f) the qualification of the Bank Notes under state securities laws in accordance with the provisions of Section 4(g)
hereof, including the filing fees and the reasonable fees and disbursements of counsel for the Dealers in connection therewith and in connection with the preparation of any Blue Sky Survey and any Legal Investment Survey; (g) the fees and
expenses, if any, incurred with respect to compliance with any applicable requirements of the Financial Industry Regulatory Authority Rule 5100 or any successor rule, including the filing fees and the fees and disbursements of counsel to the Dealers
in connection therewith; (h) all fees paid to exchanges in connection with the listing of the Bank Notes on any exchange; and (i) the cost of preparing and providing any CUSIP or other identification numbers for the Bank Notes. 

Whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated, the Issuing Bank also agrees to pay
all fees charged by rating agencies for the rating of any of the Bank Notes as well as the fees, expenses and disbursements of counsel to the Dealers incurred in connection with the establishment of, but not subsequent issuances under, the Global
Bank Note Program described in the Offering Circular. 
 SECTION 6. Conditions of Dealers’ Obligations. 

The obligations of the Dealers to solicit offers to purchase the Bank Notes as agents of the Issuing Bank, the obligations of any purchasers of
Bank Notes sold through a Dealer as agent, and any obligation of a Dealer to purchase Bank Notes pursuant to any agreement by such Dealer to purchase Bank Notes as principal (or otherwise), will be subject at all times to the accuracy of the
representations and warranties contained herein on the part of the Issuing Bank and to the accuracy of the statements of the Issuing Bank’s and the Parent’s officers made in any certificate furnished pursuant to the provisions hereof, to
the performance and observance by the Issuing Bank of all covenants and agreements herein contained in all material respects and to the following additional conditions precedent: 

(a) Legal Opinions. 

(i) Opinions of Counsel to the Issuing Bank and the Parent. On the date hereof, the Dealers shall have received the
following legal opinions and disclosure statements, dated as of the date hereof, in form and substance satisfactory to the Dealers, and on the dates set forth in Section 8(c) or Section 8(d), the Dealers shall have received the following
legal opinions and disclosure statements to the extent required by such Sections, dated as of the date required therein, in form and substance reasonably satisfactory to the Dealers: 

(A) the legal opinion of internal counsel to the Issuing Bank and the Parent, substantially in the form of Exhibit B-1 hereto, 
 (B) the disclosure statement of internal counsel to the
Issuing Bank and the Parent, substantially in the form of Exhibit B-2 hereto, and 

  
 16 

 (C) the legal opinion and disclosure statement of Wachtell, Lipton,
Rosen & Katz LLP, external counsel to the Issuing Bank and the Parent, substantially in the form of Exhibit B-3 hereto. 

(ii) Opinion of Counsel to the Dealers. On the date hereof and on each Settlement Date, the Dealers shall have received
a customary legal opinion and disclosure statement of Cravath, Swaine & Moore LLP, counsel to the Dealers, or other counsel reasonably acceptable to the Dealers, covering such matters as the Dealers may reasonably request, dated as of the
date hereof, or as of such Settlement Date, as the case may be. 
 (b) Officer’s Certificates. On the date hereof and, if
required pursuant to Section 8(b) hereof, on each other applicable date, as the case may be, the Dealers shall have received a certificate of the President, a Senior Vice President or a Vice President, or the equivalent thereof, of the Issuing
Bank reasonably satisfactory to the Dealers, substantially in the form of Exhibit C hereto. 
 (c) Representations
Certificate. On the date hereof and, if required pursuant to Section 8(b) hereof, on each other applicable date, as the case may be the Dealers shall have received a certificate of the President, a Senior Vice President or a Vice President
of the Parent, substantially in the form of Exhibit D hereto. 
 (d) Secretary’s Certificate. On the date hereof the
Dealers shall have received a certificate of the Corporate Secretary of the Issuing Bank that includes the following exhibits: 

(i) Articles of Association of the Issuing Bank, 

(ii) Bylaws of the Issuing Bank, 

(iii) Resolutions of the Board of Directors of the Issuing Bank authorizing entrance into the Bank Note program, and 

(iv) Incumbency Certificate of the Issuing Bank. 

(e) Accountant’s Comfort Letter. On the date hereof and, if required pursuant to Section 8(e) hereof, the Dealers shall have
received a letter dated the date hereof or such other applicable date as the case may be and in form and substance reasonably satisfactory to the Dealers, from the independent accountants to the Parent, containing statements and information of the
type ordinarily included in accountants’ “comfort letters” to underwriters with respect to the financial statements and certain financial information contained or incorporated by reference in the Offering Circular, and confirming that
they are independent certified public accountants with respect to the Parent pursuant to the Code of Professional Conduct of the American Institute of Certified Public Accountants. 

(f) Ratings. The Bank Notes shall have been rated investment grade by at least one nationally recognized statistical rating
organization. 

  
 17 

 (g) Other Documents. On the date hereof and on each Settlement Date, counsel to the
Dealers shall have been furnished with such documents and opinions as such counsel may reasonably request for the purpose of enabling such counsel to pass upon the issuance and sale of the Bank Notes as herein contemplated and related proceedings,
or in order to evidence the accuracy and completeness of any of the representations and warranties, or the fulfillment of any of the conditions, herein contained; and all proceedings taken by the Issuing Bank in connection with the issuance and sale
of the Bank Notes as herein contemplated shall be reasonably satisfactory in form and substance to the Dealers and to counsel to the Dealers. 

(h) Termination. If any condition specified in this Section 6 shall not have been fulfilled when and as required to be fulfilled,
this Agreement (or, at the option of the Dealer, any applicable agreement by such Dealer to purchase Bank Notes as principal) may be terminated, insofar as this Agreement or such agreement relates to a particular Dealer, by such Dealer, by notice to
the Issuing Bank at any time prior to the fulfillment of such condition and any such termination shall be without liability of any party to any other party, except that the provisions under Section 5 hereof, the indemnity and contribution
agreements set forth in Sections 9 and 10 hereof, the provisions of Section 11 hereof, the termination procedures of Section 12(c) hereof, the notice provisions of Section 13 hereof, the provisions set forth under “Parties”
of Section 14 hereof and the governing law provisions set forth under Section 17 hereof shall remain in effect. 
 SECTION 7. Delivery of and
Payment for Bank Notes Sold through a Dealer. 
 Delivery of Bank Notes sold by the Issuing Bank through a Dealer as agent shall be made
by the Issuing Bank to such Dealer for the account of any purchaser only against payment therefor in immediately available funds. In the event that a purchaser shall fail either to accept delivery of or to make payment for a Bank Note on the date
fixed for settlement, the Dealer shall promptly notify the Issuing Bank and deliver the Bank Note to the Issuing Bank, and, if the Dealer has theretofore paid the Issuing Bank for such Bank Note, the Issuing Bank will promptly return such funds to
the Dealer. If such failure shall have occurred for any reason other than as a result of the default by the applicable Dealer with respect to its obligations hereunder, the Issuing Bank will reimburse such Dealer on an equitable basis for its loss
of the use of funds during the period when the funds were credited to the account of the Issuing Bank. 
 SECTION 8. Additional Covenants of the Issuing
Bank. 
 The Issuing Bank covenants and agrees with each Dealer that: 

(a) Reaffirmation of Representations and Warranties. Each acceptance by the Issuing Bank of an offer for the purchase of Bank Notes
(whether to a Dealer as principal or through the Dealer as agent), and each delivery of such Bank Notes to the Dealers, shall be deemed to be an affirmation that the representations and warranties of the Issuing Bank contained in this Agreement and
in any certificate theretofore delivered to the Dealers pursuant hereto are true and correct at the time of such acceptance or delivery, as the case may be, and an undertaking that such representations and warranties will be true and correct at the
time of delivery by the Issuing Bank to the purchaser or his agent, or to the applicable Dealer, of such Bank Notes relating to such acceptance or delivery, as though made at and as of each such time

  
 18 

 
(and it is understood that such representations and warranties shall relate to the Offering Circular or the Disclosure Package, as the case may be, each as amended and supplemented to each such
time, including any amendment resulting from incorporation by reference of documents filed by the Issuing Bank or the Parent). 
 (b)
Subsequent Delivery of Certificates. On each Settlement Date, the Issuing Bank shall furnish or cause to be furnished to the Dealers forthwith certificates from each of the Issuing Bank and the Parent dated such Settlement Date, in form
reasonably satisfactory to the Dealers to the effect that the statements contained in the certificates referred to in Sections 6(b) and 6(c) hereof which were last furnished to the Dealers are true and correct at the time of such amendment or
supplement or filing or sale, as the case may be, as though made at and as of such time (except that such statements shall be deemed to relate to the Offering Circular as amended and supplemented to such time, including any amendment resulting from
incorporation by reference of documents filed by the Issuing Bank and the Parent), or, in lieu of such certificates, certificates of the same form as the certificates referred to in said Sections 6(b) and 6(c), modified as necessary to relate
to the Offering Circular or the Disclosure Package, as the case may be, each as amended and supplemented to the time of delivery of such certificates; provided, however, no certificates need be given during any period in which the
Dealers have been instructed to or have suspended the solicitation and receipt of offers to purchase Notes but shall be required to be given before the Dealers shall again resume solicitation and receipt of offers to purchase Notes. 

On each Settlement Date, the Dealers shall have received a certificate of the Corporate Secretary of the Issuing Bank substantially in the
form of Exhibit F hereto, certifying that as of the Settlement Date, none of the documents listed in Section 6(d)(i) through (iv) above has been modified, updated or amended; provided, however, that if any such
documents have been modified, updated or amended, the Issuing Bank shall attach such modified, updated or amended document as an exhibit to the certificate described in this paragraph of Section 8(b). 

On each date on which the Issuing Bank has agreed to issue Bank Notes (each such date, a “Pricing Date”) and Settlement Date
that occurs after the date on which Parent files a press release with the SEC disclosing its financial results for a completed fiscal period but prior to the date on which Parent files its Form 10-K or Form 10-Q for such period (each such Pricing
Date and Settlement Date, a “Post-Earnings Date”), the Dealers shall have received a certificate of the Controller of the Parent substantially in the form of Exhibit G hereto. 

(c) Subsequent Delivery of Legal Opinions. On each Settlement Date, the Issuing Bank shall furnish or cause to be furnished forthwith
to the Dealers and their counsel a written opinion from counsel last furnishing the opinion referred to in Section 6(a)(i)(A) hereof, or other counsel reasonably satisfactory to the Dealers, dated the Settlement Date, in form satisfactory to
the Dealers, of the same form as the opinion referred to in Section 6(a)(i)(A) hereof but modified, as necessary, to relate to the Offering Circular or the Disclosure Package as amended and supplemented to the time of delivery of such opinion;
provided, however, that no opinions need be given during any period in which the Dealers have been instructed to or have suspended the solicitation and receipt of offers to purchase Notes but shall be required to be given before the
Dealers shall again resume solicitation and receipt of offers to purchase Notes. 

  
 19 

 (d) Subsequent Delivery of Disclosure Statements. On each Settlement Date, the Issuing
Bank shall furnish or cause to be furnished forthwith to the Dealers and their counsel a written disclosure statement from counsel last furnishing the disclosure statement referred to in Section 6(a)(i)(B) hereof, or other counsel reasonably
satisfactory to the Dealers, dated the Settlement Date, as the case may be, in form reasonably satisfactory to the Dealers, of the same form as the disclosure statement referred to in Section 6(a)(i)(B) hereof but modified, as necessary, to
relate to the Offering Circular or the Disclosure Package as amended and supplemented to the time of delivery of such disclosure statement; provided, however, that no disclosure statement need be given during any period in which the
Dealers have been instructed to or have suspended the solicitation and receipt of offers to purchase Notes but shall be required to be given before the Dealers shall again resume solicitation and receipt of offers to purchase Notes. 

(e) Subsequent Delivery of Comfort Letters. On each (i) Pricing Date, and (ii) Settlement Date, the Issuing Bank shall cause
the independent accountants to the Parent forthwith to furnish the Dealers a letter, dated the Pricing Date or the Settlement Date, as the case may be, in form reasonably satisfactory to the Dealers, of the same tenor as the letter referred to in
Section 6(e) hereof with such changes as may be necessary to reflect the amended and supplemented financial information included or incorporated by reference in the Offering Circular or the Disclosure Package, as amended or supplemented to the
date of such letter; provided, however, that if the Offering Circular is amended or supplemented solely to include financial information as of and for a fiscal quarter, the independent accountants to the Parent may limit the scope of
such letter to the unaudited financial statements included in such amendment or supplement unless any other information included therein of an accounting, financial or statistical nature is of such a nature that, in the Dealer’s judgment, such
letter should cover such other information; provided, however, that no letters need be given during any period in which the Dealers have been instructed to or have suspended the solicitation and receipt of offers to purchase Notes but
shall be required to be given before the Dealers shall again resume solicitation and receipt of offers to purchase Notes. 
 SECTION 9.
Indemnification. 
 (a) Indemnification of Dealers. Subject to Section 9(c) below, the Issuing Bank agrees to indemnify
and hold harmless each Dealer, its respective directors and affiliates and each person, if any, who controls each Dealer within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act as follows: 

(i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement
or alleged untrue statement of a material fact contained in the Offering Circular, the Disclosure Package or any Supplemental Offering Materials (or any amendment or supplement thereto), or the omission or alleged omission therefrom of a material
fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and 

(ii) against any and all expense whatsoever (including the fees and disbursements of counsel chosen by the Dealers), as
incurred in investigating, preparing or defending against any litigation, or investigation or proceeding by any governmental 

  
 20 

 
agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such
expense is not paid under (i) above; 
 provided, however, that this indemnity does not apply to any loss, liability, claim, damage or
expense to the extent arising out of an untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written information furnished to the Issuing Bank by the Dealers expressly for use in the
Offering Circular, the Disclosure Package or any Supplemental Offering Materials (or any amendment or supplement thereto). This indemnity will be in addition to any liability that the Issuing Bank may otherwise have. 

(b) Indemnification of the Issuing Bank. Each Dealer agrees, severally and not jointly, to indemnify and hold harmless the Issuing
Bank, its respective directors and each person, if any, who controls the Issuing Bank within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act against any and all loss, liability, claim, damage and expense whatsoever
described in the indemnity contained in subsection (a) of this Section 9, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Offering Circular, the Disclosure
Package or any Supplemental Offering Materials (or any amendment or supplement thereto) in reliance upon and in conformity with written information furnished to the Issuing Bank by such Dealer expressly for use in the Offering Circular, the
Disclosure Package or any Supplemental Offering Materials (or any amendment or supplement thereto). This indemnity will be in addition to any liability that any Dealer may otherwise have. 

(c) Actions Against Parties; Notification. Promptly after receipt by an indemnified party under Sections 9(a) or (b) of notice of
the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify the indemnifying party in writing of the commencement thereof; but the omission to
so notify the indemnifying party will not relieve the indemnifying party from any liability that it may have to any indemnified party otherwise than under Sections 9(a) or (b) except to the extent that the indemnifying party is prejudiced as a
result thereof. In case any such action is brought against any indemnified party, the indemnifying party will be entitled to participate therein, and to the extent that it may elect by written notice delivered to the indemnified party promptly after
receiving the notice from such indemnified party required by the preceding sentence, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party; provided that, if the defendants in any such action include both the
indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the
indemnifying party, the indemnified party or parties shall have the right to select separate counsel to assert such legal defenses and to otherwise participate in the defense of such action on behalf of such indemnified party or parties. Upon
receipt of notice from the indemnifying party to such indemnified party of its election to so assume the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party
under Sections 9(a) or (b) for any legal or other expenses subsequently incurred by such indemnified party (other than reasonable costs of investigation) in connection with the defense thereof unless (i) the indemnified party shall have
employed separate counsel in connection with the assertion of legal defenses in 

  
 21 

 
accordance with the proviso to the next preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one separate national
counsel (in addition to any local counsel) representing the indemnified parties who are parties to such action), (ii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the
indemnified party within a reasonable time after notice of commencement of the action or (iii) the indemnifying party has authorized the employment of counsel for the indemnified party at the expense of the indemnifying party; and except that,
if clause (i) or (iii) is applicable, such liability shall be only in respect of the counsel referred to in such clause (i) or (iii). 

No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any
judgment with respect to any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought under this
Section 9 or Section 10 hereof (whether or not the indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i) includes an unconditional release of each indemnified party from all
liability arising out of such litigation, investigation, proceeding or claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. 

SECTION 10. Contribution. 
 If the
indemnification provided for in Section 9 hereof is for any reason unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each
indemnifying party shall contribute to the aggregate amount of such losses, liabilities, claims, damages and expenses incurred by such indemnified party, as incurred, (i) in such proportion as is appropriate to reflect the relative benefits
received by the Issuing Bank, on the one hand, and the applicable Dealer(s), on the other hand, from the offering of the Bank Notes that were the subject of the claim for indemnification or (ii) if the allocation provided by clause (i) is
not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Issuing Bank, on the one hand, and the applicable Dealer(s), on
the other hand, in connection with the statements or omissions which resulted in such losses, liabilities, claims, damages or expenses, as well as any other relevant equitable considerations. 

The relative benefits received by the Issuing Bank, on the one hand, and the applicable Dealer(s), on the other hand, in connection with the
offering of the Bank Notes that were the subject of the claim for indemnification shall be deemed to be in the same respective proportions as the total net proceeds from the offering of such Bank Notes (before deducting expenses) received by the
Issuing Bank and the total discount or commission received by each applicable Dealer, as the case may be, bears to the aggregate initial offering price of such Bank Notes. 

The relative fault of the Issuing Bank, on the one hand, and the applicable Dealer(s), on the other hand, shall be determined by reference to,
among other things, whether any untrue or alleged untrue statement of a material fact or omission or alleged omission to state 

  
 22 

 
a material fact relates to information supplied by the Issuing Bank or by the applicable Dealer(s) and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. 
 The Issuing Bank and the Dealers agree that it would not be just and equitable if
contribution pursuant to this Section 10 were determined by pro rata allocation (even if the applicable Dealer(s) were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable
considerations referred to above in this Section 10. The aggregate amount of losses, liabilities, claims, damages and expenses incurred by an indemnified party and referred to above in this Section 10 shall be deemed to include any legal
or other expenses reasonably incurred by such indemnified party in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever
based upon any applicable untrue or alleged untrue statement or omission or alleged omission. 
 Notwithstanding the provisions of this
Section 10, (i) no Dealer shall be required to contribute any amount in excess of the amount by which the total discount or commission received by such Dealer in connection with the offering of the Bank Notes that were the subject of the
claim for indemnification exceeds the amount of any damages which such Dealer has otherwise been required to pay by reason of any applicable untrue or alleged untrue statement or omission or alleged omission and (ii) no person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 

For purposes of this Section 10, each person, if any, who controls a Dealer within the meaning of Section 15 of the 1933 Act or
Section 20 of the 1934 Act shall have the same rights to contribution as such Dealer, and each person, if any, who controls the Issuing Bank within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the
same rights to contribution as the Issuing Bank. The obligations of each of the Dealers and the Issuing Bank under this Section 10 to contribute are several in proportion to the respective purchases or sales made by or through it to which such
loss, claim, damage or liability (or action in respect thereof) relates and are not joint. 
 SECTION 11. Representations, Warranties and Agreements to
Survive Delivery. 
 All representations, warranties and agreements contained in this Agreement, or contained in certificates of officers
of the Issuing Bank or the Parent pursuant hereto, shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of the Dealers or any controlling person of a Dealer, or by or on behalf of the Issuing
Bank, and shall survive each delivery of and payment for any of the Bank Notes. 
 SECTION 12. Termination. 

(a) Termination of this Agreement. This Agreement (excluding any agreement hereunder by a Dealer to purchase Bank Notes as principal)
may be terminated for any reason, at any time by the Issuing Bank or any of the Dealers, in each case as to itself, immediately upon the giving of 30 days’ written notice of such termination to the other parties hereto in accordance with the
provisions of Section 13 hereof. 

  
 23 

 (b) Termination of an Agreement to Purchase Bank Notes as Principal. A Dealer may
terminate an agreement hereunder by such Dealer to purchase Bank Notes as principal, immediately upon notice to the Issuing Bank, at any time prior to the Settlement Date relating thereto: 

(i) if there has been, since the date of such agreement or since the respective dates as of which information is given in the
Offering Circular or the Disclosure Package as it exists immediately prior to such agreement, any material adverse change in the condition, financial or otherwise, business affairs, business prospects or results of operations, or any development
reasonably likely to result in a prospective material adverse change in the condition, financial or otherwise, business affairs, business prospects or results of operations, of the Issuing Bank and its subsidiaries, or of the Parent and its
subsidiaries, as the case may be, considered as one enterprise, whether or not arising in the ordinary course of business, which is, in the judgment of such Dealer, so material and adverse as to make it impractical or inadvisable to proceed with the
offering or the delivery of the Bank Notes as contemplated by the Offering Circular (exclusive of any amendment thereof) and the Disclosure Package (exclusive of any supplement thereto); 

(ii) if since the date of any such agreement by such Dealer to purchase Bank Notes, there shall have occurred any material
adverse change in the financial markets in the United States or in international financial markets, or any outbreak or escalation of hostilities, declaration by the United States of a national emergency or war, or other national or international
calamity or crisis the effect of which , which is, in the judgment of such Dealer, so material and adverse as to make it impractical or inadvisable to proceed with the offering or the delivery of the Bank Notes as contemplated by the Offering
Circular (exclusive of any amendment thereof) and the Disclosure Package (exclusive of any supplement thereto); 
 (iii) if
since the date of any such agreement by such Dealer to purchase Bank Notes, trading in any securities of the Issuing Bank or the Parent shall have been suspended by the SEC or a national securities exchange, or if trading generally on the New York
Stock Exchange, the Nasdaq Market or the Chicago Board of Trade shall have been suspended, or minimum or maximum prices for trading shall have been fixed, or maximum ranges for prices for securities shall have been required, by any of said exchanges
or by order of the SEC or any other governmental authority, or a material disruption has occurred in commercial banking or securities settlement or clearance services in the United States, or if a banking moratorium shall have been declared by
federal, New York or Pennsylvania authorities; 
 (iv) if the rating assigned by any nationally recognized statistical rating
agency (as defined by the SEC in Section 3(a)(62) of the 1934 Act) to any debt securities of the Issuing Bank as of the date of such agreement shall have been lowered since that date or if any such rating agency shall have publicly announced
that it has placed under surveillance or review, other than with positive implications, its rating of any debt securities or deposits of the Issuing Bank or the Parent; or 

  
 24 

 (v) if there shall have come to such Dealer’s attention any facts that would
cause such Dealer to believe that the Offering Circular or the Disclosure Package or any amendment thereto or supplement thereof, at the time it was required to be delivered to a purchaser of Bank Notes, contained an untrue statement of a material
fact or omitted to state a material fact necessary in order to make the statements therein, in light of the circumstances existing at the time of such delivery, not misleading. 

(c) General. In the event of any such termination described in Section 12(a) or Section 12(b) hereto, none of the parties
will have any liability to the other parties hereto, except that (i) the Dealers shall be entitled to any commissions earned in accordance with the third paragraph of Section 3(b) hereof, (ii) if at the time of termination (a) a
Dealer shall own any Bank Notes purchased with the intention of reselling them or (b) an offer to purchase any of the Bank Notes has been accepted by the Issuing Bank but the time of delivery to the purchaser or his agent of such Bank Notes
relating thereto has not occurred, the covenants set forth in Sections 4 and 8 hereof shall remain in effect until such Bank Notes are so resold or delivered, as the case may be, and (iii) the provisions of Section 5 hereof, the indemnity
and contribution agreements set forth in Sections 9 and 10 hereof, and the provisions of Sections 11, 12(c), 13, 14 and 17 hereof shall remain in effect. 

SECTION 13. Notices. 
 Unless otherwise
provided herein, all notices required under the terms and provisions hereof shall be in writing, either delivered by hand, by mail or by telex, telecopier or telegram, and any such notice shall be effective when received at the address specified
below. 
 If to the Issuing Bank: 

PNC Bank, National Association 

Three PNC Plaza 
 225 Fifth Avenue

 6th Floor 
 Pittsburgh, PA
15222 
 Attention: Lisa Kovac, SVP & Funding Manager 

Facsimile Number: (412) 762-1728 

Telephone Number: (412) 762-8400 

  
 25 

 If to the Parent: 

The PNC Financial Services Group, Inc. 

Three PNC Plaza 
 225 Fifth Avenue

 6th Floor 
 Pittsburgh, PA
15222 
 Attention: Lisa Kovac 

Facsimile Number: (412) 762-1728 

Telephone Number: (412) 762-8400 

If to Citigroup Global Markets Inc.: 

Citigroup Global Markets Inc. 

388 Greenwich Street 
 New York,
NY 10013 
 Attention: Transaction Execution Group 

Facsimile Number: (646) 291-5209 

Telephone Number: (212) 816-1135 

If to any other Dealer: at its notice address(es) specified on Schedule I hereto or at such other address as such party may designate from
time to time by notice duly given in accordance with the terms of this Section 13. 
 SECTION 14. Parties. 

This Agreement shall inure to the benefit of and be binding upon the Dealers and the Issuing Bank and their respective successors. Nothing
expressed or mentioned in this Agreement is intended or shall be construed to give any person, firm or corporation, other than the parties hereto and their respective successors and the controlling persons, directors and affiliates referred to in
Sections 9 and 10 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein or therein contained. 

This Agreement and all conditions and provisions hereof are intended to be for the sole and exclusive benefit of the parties hereto and their
respective successors and said controlling persons, directors and affiliates and their heirs and legal representatives, and for the benefit of no other person, firm or corporation. No purchaser of Bank Notes shall be deemed to be a successor by
reason merely of such purchase. Notwithstanding the foregoing, the purchasers referred to in Section 4(j) shall have the rights set forth therein. 

SECTION 15. Default by One or More of the Agents Acting as Principal. 

If one or more of the Dealers acting as principal pursuant to Section 3(a) hereof shall fail at any Settlement Date to purchase the Bank
Notes that it or they are obligated to purchase under this Agreement (the “Defaulted Notes”), then the non-defaulting Dealer(s) acting as principal shall have the right, within 24 hours thereafter,
to make arrangements for one or 

  
 26 

 
more of the non-defaulting Dealers acting as principal, or any other underwriters, to purchase all, but not less than all, of the Defaulted Notes in such
amounts as may be agreed upon and upon the terms herein set forth; if, however, the non-defaulting Dealers acting as principal shall not have completed such arrangements within such 24-hour period, then: 
 (a) if the aggregate principal amount of Defaulted Notes does not exceed 10% of
the aggregate principal amount of the Notes to be purchased hereunder, each of the non-defaulting Dealers acting as principal shall be obligated, severally and not jointly, to purchase the full amount thereof
in the proportions that their initial respective underwriting obligations under the applicable terms agreement bear to the underwriting obligations of all non-defaulting Dealers acting as principal, or 

(b) if the aggregate principal amount of Defaulted Notes exceeds 10% of the aggregate principal amount of the Notes to be purchased under the
applicable terms agreement entered into pursuant to Section 3(a) hereof shall terminate without liability on the part of any non-defaulting Dealers acting as principal. 

No action taken pursuant to this Section 15 shall relieve any defaulting Dealers acting as principal from liability in respect of its
default. 
 In the event of any such default that does not result in a termination of the applicable terms agreement entered into pursuant
to Section 3(a) hereof, either the non-defaulting Dealer(s) acting as principal or the Issuing Bank shall have the right to postpone the Settlement Date for a period not exceeding seven days in order to
effect any required changes in any documents or arrangements relating thereto. 
 SECTION 16. Waiver of Jury Trial. 

The Issuing Bank and each of the Dealers 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 Agreement or the transactions contemplated hereby. 
 SECTION 17. Governing
Law. 
 This Agreement and all the rights and obligations of the parties shall be governed by and construed in accordance with the
laws of the State of New York, excluding any choice-of-law principles that would otherwise require the application of the law of any other jurisdiction. 

SECTION 18. Counterparts. 
 This Agreement
may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 

  
 27 

 If the foregoing is in accordance with your understanding of our agreement, please sign and
return to the Issuing Bank a counterpart hereof, whereupon this instrument along with all counterparts will become a binding agreement between the Issuing Bank and each of the Dealers in accordance with its terms. 

 

							
	Very truly yours,
	
	PNC BANK, NATIONAL ASSOCIATION
			
			by 		 /s/ Randall C. King

					Name:		Randall C. King
					Title:		Executive Vice President

  
 28 

					
	CONFIRMED AND ACCEPTED,
	as of the date first above written:
	
	CITIGROUP GLOBAL MARKETS INC.
		
	by 		 /s/ Jack D. McSpadden, Jr.

			Name:		Jack D. McSpadden, Jr.
			Title:		Managing Director
	
	BARCLAYS CAPITAL INC.
		
	by		 /s/ Paige Maire

			Name:		Paige Maire
			Title:		Managing Director
	
	CREDIT SUISSE SECURITIES (USA) LLC
		
	by		 /s/ Sharon Harrison

			Name:		Sharon Harrison
			Title:		Director
	
	DEUTSCHE BANK SECURITIES INC.
		
	by		 /s/ Anguel Zaprianov

			Name:		Anguel Zaprianov
			Title:		Managing Director
		
	by		 /s/ Tom Criqui

			Name:		Tom Criqui
			Title:		Director
	
	GOLDMAN, SACHS & CO.
		
	by		 /s/ Adam Green

			Name:		Adam Green
			Title:		Vice President

  
 29 

					
	JEFFERIES LLC
		
	by 		 Frank Cican

			Name:		Frank Cican
			Title:		Managing Director
	
	J.P. MORGAN SECURITIES LLC
		
	by		 /s/ Stephen L. Sheiner

			Name:		Stephen L. Sheiner
			Title:		Executive Director
	
	MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
		
	by		 /s/ Matt Basler

			Name:		Matt Basler
			Title:		Managing Director
	
	MORGAN STANLEY & CO. LLC
		
	by		 /s/ Yurij Slyz

			Name:		Yurij Slyz
			Title:		Executive Director
	
	PNC CAPITAL MARKETS LLC
		
	by		 /s/ Robert W. Thomas

			Name:		Robert W. Thomas
			Title:		Managing Director
	
	SANDLER O’NEILL & PARTNERS, L.P.
		
	by		 /s/ Robert A. Kleinert

			Name:		Robert A. Kleinert
			Title:		An Officer of the Corporation

  
 30 

					
	U.S. BANCORP INVESTMENTS, INC.
		
	by 		 /s/ Douglas Fink

			Name:		Douglas Fink
			Title:		Managing Director
	
	WELLS FARGO SECURITIES, LLC
		
	by		 /s/ Carolyn Hurley

			Name:		Carolyn Hurley
			Title:		Director

  
 31 

 EXHIBIT A 
  

 
 PRICING SUPPLEMENT 

$         

PNC BANK, NATIONAL ASSOCIATION 

$         [Senior][Subordinated][Floating Rate] Notes due 

[Senior][Subordinated][Floating Rate] Notes Issue Price:     % 

This pricing supplement supplements the terms and conditions in, and incorporates by reference, the offering circular dated January 16,
2014(the “Offering Circular”), and all documents incorporated by reference in the Offering Circular, and should be read in conjunction with the Offering Circular. 

 

			
	CUSIP No.:		
	Form of Note:		
	[    ] Book-Entry		
	[    ] Certificated		
	[    ] Senior		
	[    ] Subordinated		

			
	Principal Amount:		  

			
	Trade Date:		  

			
	Original Issue Date:		  

			
	Maturity Date:		  

	Interest Rate:
	[    ] Fixed Rate
	[    ] Federal Funds Rate (effective) (open) (target)
	[    ] LIBOR
	[    ] Other Base Rate (as described below)
	
	Dealer’s Commission:
	    		
	    		
	    		
	    		
	    		
	    		
	    		
	Proceeds (after discount and commissions and before issuer expenses):
		
	Dealer		                Principal Amount of Notes
	    		
	    		
	    		
	    		
	    		
	Repayment and Redemption Terms:

			
	    		
	    		
	Issue Price (Dollar Amount and Percentage of Principal Amount):
	Amount: $             /		
	    %		

			
	Interest Rate/Initial Interest Rate:		  

			
	Interest Payment Dates:		  

			
	Regular Record Dates:		  

			
	Interest Determination Dates:		  

			
	Interest Reset Dates:		  

			
	Index Source:		  

			
	Index Maturity:		  

			
	Spread:		  

			
	Spread Multiplier:		  

			
		
	Day Count:		  

			
	Minimum Interest Rate:		  

			
	Maximum Interest Rate:		  

			
		
	For Extendible Notes:		

			
	Initial Maturity Date:		  

			
	Extension Feature:		  

			
		
	 For Discount Notes: Original Issue

Discount:     %
		

			
	Yield to maturity:		  

	Discount Notes:		
	[    ] Subject to special provisions set forth therein with respect to the principal amount thereof payable upon any redemption or acceleration of the maturity thereof.
	[    ] For Federal income tax purposes only.
	Applicable (for further information see pages [—] of the Offering Circular)

 
 

  
 The Notes will not be
listed on any securities exchange. Currently there is no trading market for the Notes. 
 The Notes are not deposits and are not insured by
the Federal Deposit Insurance Corporation or any other governmental agency. The Notes are issued by the PNC Bank, National Association (the “Bank”) and are not obligations of, or otherwise guaranteed by, the Bank’s ultimate parent
company, The PNC Financial Services Group, Inc., or any of the Bank’s other affiliates. 

  
 A-1 

 Investing in the Notes involves risks. See “Risk Factors” on pages [—] of the Offering Circular. 
 None of the Securities and Exchange Commission (the
“SEC”), the Office of the Comptroller of the Currency (the “OCC”) or any state securities commission has approved or disapproved of the Notes or determined if the Offering Circular is truthful or complete. Any representation to
the contrary is a criminal offense. 
 The Notes have not been registered under the Securities Act of 1933, as amended (the
“Securities Act”), or Part 16 of the Regulations of the OCC. The Notes are being offered and sold pursuant to an exemption from registration with the SEC pursuant to Section 3(a)(2) of the Securities Act and the abbreviated securities
registration procedures of the OCC set forth in Part 16 of the OCC’s regulations. Accordingly, the Notes are being offered only to investors that are “accredited investors” as defined in Rule 501 under the Securities Act, and each
owner of a beneficial interest in a Note will be required to hold such beneficial interest in a minimum principal amount of $250,000. 

[Because our affiliate PNC Capital Markets LLC is participating in this offering, PNC Capital Markets LLC is deemed to have a
“conflict of interest” within the meaning of Financial Industry Regulatory Authority (“FINRA”) Rule 5121. Accordingly, the offering is being conducted in compliance with FINRA Rule 5121 regarding a FINRA member firm’s
participation in the distribution of securities of an affiliate. In accordance with Rule 5121, PNC Capital Markets LLC may not make sales in this offering to any discretionary account without the prior approval of the customer.] 

The dealers expect to deliver the Senior Notes to purchasers in book-entry form through the facilities of The Depository Trust Company and its
direct participants on or about 

  
 A-2 

 EXHIBIT B-1 

OPINION OF INTERNAL COUNSEL TO THE ISSUING BANK AND THE PARENT 

Pursuant to Section 6(a)(i)(A) (and to the extent required by Sections 3(a) and 8(c)) of the Distribution Agreement, internal
counsel to the Issuing Bank shall furnish to the Dealers an opinion, to the effect that: 
 Upon the basis of the foregoing, it is my opinion that: 

(i) The Issuing Bank is a national banking association duly organized, validly existing and in good standing under the laws of
the United States. The Parent is a registered bank holding company under the Bank Holding Company Act of 1956, as amended. The Parent is a corporation duly organized, and presently subsisting under the laws of the Commonwealth of Pennsylvania. The
Issuing Bank is a wholly owned direct or indirect subsidiary of the Parent. The Parent has securities registered under the Securities Act of 1934, as amended (the “1934 Act”). 

(ii) Each of the Distribution Agreement [if syndicated: the Syndicated Terms Agreement], the Agency Agreement and the Interest
Calculation Agreement have been duly authorized, executed and delivered by the Issuing Bank and is a valid and legally binding agreement of the Issuing Bank, enforceable in accordance with its terms. 

(iii) The Bank Notes have been duly authorized and, when issued and authenticated against payment of the consideration
therefore in accordance with the provisions of the [if syndicated: the Syndicated Terms Agreement] Agency Agreement and the Distribution Agreement, will be valid and binding obligations of the Issuing Bank, enforceable in accordance their respective
terms. 
 (iv) Assuming that Bank Notes are (a) offered and sold in minimum denominations of $250,000 only to persons
who are “accredited investors”, as defined in Rule 501(a) under the 1933 Act, (b) purchasers receive an Offering Circular, excluding the documents incorporated by reference therein, and (c) the Issuing Bank files the
Offering Circular and any amendments thereto, excluding the documents incorporated by reference therein, with the Office of the Comptroller of the Currency (“OCC”) no later than the fifth business day after they are first used, then the
offer and sale of the Bank Notes will comply with 12 C.F.R. Part 16.6(a). 
 (v) The Bank Notes are exempt from
registration under Section 3(a)(2) of the 1933 Act. Neither registration of the Bank Notes under the 1933 Act nor qualification of an indenture under the Trust Indenture Act of 1939, as amended, will be required in connection with the offer,
sale, issuance or delivery of such Bank Notes pursuant to the Distribution Agreement or any applicable agreement by a Dealer party to the Distribution Agreement to purchase the Bank Notes as principal. 

  
 B-1-1 

 (vi) The Bank Notes conform to the description thereof contained in the Offering
Circular under the caption “Description of Notes”. 
 (vii) The Issuing Bank is not required to register under the
provisions of the Investment Company Act of 1940, as amended. 
 (viii) Assuming that Bank Notes are both (a) offered
and sold in minimum denominations of $250,000 only to persons who are “accredited investors”, as defined in Rule 501(a) under the 1933 Act and (b) purchasers receive an Offering Circular, excluding the documents incorporated by
reference therein, no consent, authorization, or filing with any court or governmental agency or body is required for the entering into or performance by the Issuing Bank of any obligation under the Distribution Agreement, the Terms Agreement or the
Bank Notes except (a) such as have been obtained or made prior to the date hereof, (b) such as may be required under applicable state or foreign securities or Blue Sky laws and the rules and the regulations of the Financial Industry
Regulatory Authority, Inc. (as to which such counsel need express no opinion) and (c) the Offering Circular and any amendments thereto (other than amendments which contain only pricing information relating to a particular transaction, updated
financial information concerning the Issuing Bank or non-material information relating to the Bank Note program) must be filed by the Issuing Bank with the OCC no later than the fifth business day after first
use pursuant to 12 C.F.R. Section 16.6, (d) with respect to Subordinated Notes, notice must be filed with the OCC pursuant to 12 C.F.R. Section 5.47 in order for such Subordinated Notes to be counted as Tier 2 capital of the Issuing
Bank , (e) for the Issuing Bank, pursuant to Section 38(h)(2) of the FDI Act, to make payment on the Subordinated Notes in the event the Issuing Bank becomes “critically undercapitalized” within the meaning of
Section 38(b)(1)(E) of the FDI Act and (f) to the extent that the failure to obtain any consent, approval or authorization, or make any filing, would not in the aggregate have a material adverse effect on the Issuing Bank and its
subsidiaries taken as a whole or on the Parent and its subsidiaries taken as a whole or materially and adversely affect the consummation of the transactions contemplated by, or the ability of the Issuing Bank to perform its obligations under, this
Agreement, the Bank Notes, the Issuing and Paying Agency Agreement, the Interest Calculation Agreement or any applicable terms agreement. Except as have been obtained prior to the date hereof, no approval or authorization of the Parent is required
for the Issuing Bank to enter into, or the performance by the Issuing Bank of its obligations under, this Agreement, the Bank Notes, the Issuing and Paying Agency Agreement, the Interest Calculation Agreement and any applicable terms agreement. 

  
 B-1-2 

 (ix) The execution, issuance, delivery and performance by the Issuing Bank of the
Bank Notes and the execution, delivery and performance by the Issuing Bank of the Distribution Agreement, [if syndicated: the Syndicated Terms Agreement,] the Agency Agreement, the Interest Calculation Agreement and any agreement by a Dealer party
to the Distribution Agreement to purchase the Bank Notes as principal, will not conflict with or result in a breach of (a) any provision of the Issuing Bank’s or the Parent’s Bylaws or Articles of Association or Articles of
Incorporation, (b) any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust or other agreement or instrument to which Parent or the Issuing Bank, or the property of any of the Issuing Bank is
bound or (c) any law, rule, or regulation, order, judgment or decree applicable to the the Issuing Bank and its subsidiaries, except in the case of (b) and (c) where such breach or default would not reasonably be expected to prevent
the consummation of the Distribution Agreement and Terms Agreement, the issuance of the Bank Notes or the transactions contemplated thereby or have a material adverse effect on the business, management, results of operations, or financial condition
of the Issuing Bank and its subsidiaries, taken as a whole. 
 (x) Except as may be set forth in the Offering Circular or the
Disclosure Package, or in the documents incorporated therein by reference, there is no action, suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now known to me to be pending, or, to my knowledge,
threatened against, the Parent or any of its subsidiaries or the Issuing Bank or any of its subsidiaries which would reasonably be expected to prevent the consummation of this Agreement, the Agency Agreement, the Interest Calculation Agreement, the
issuance of the Bank Notes or any transaction contemplated thereby. 
 (xi) The Representations Certificate has been duly
executed and delivered by a duly authorized officer of the Parent. 
 (xii) Each document filed pursuant to the Securities
Exchange Act of 1934, as amended (the “1934 Act”) and incorporated by reference in the Offering Circular complied as to form when filed with the Securities and Exchange Commission (the “SEC”) in all material respects with the
1934 Act and the rules and regulations of the SEC promulgated thereunder. 

  
 B-1-3 

 EXHIBIT B-2 

DISCLOSURE OPINION OF INTERNAL COUNSEL TO THE ISSUING BANK AND THE PARENT 

Pursuant to Section 6(a)(i)(B) (and to the extent required by Sections 3(a) and 8(d)) of the Distribution Agreement, internal
counsel to the Issuing Bank shall furnish to the Dealers a statement, to the effect that: 
 (i) In the course of such
counsel’s [participation in the preparation of the Offering Circular and Disclosure Package, such counsel has participated in conferences with officers and other representatives of Parent and the Issuing Bank, representatives of and counsel for
the Agents and representatives of the registered independent public accounting firm of Parent, during which the contents of the Offering Circular and Disclosure Package were discussed]1. Although
such counsel has not independently checked or verified, and is not passing upon and assumes no responsibility for, the accuracy, completeness or fairness thereof (except as set forth in paragraph (vi) above), or otherwise verified the
statements made therein, nothing has come to such counsel’s attention that would lead such counsel to believe that the Disclosure Package (including the documents incorporated by reference therein), as of
[—] [AM/PM] Eastern Time on [—],[—], and the Offering Circular as of its date and as of the
date hereof contained or contain, as applicable, any untrue statement of a material fact or omitted or omit, as applicable, to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which
they were made, not misleading, except such counsel need not express any opinion or belief as to the financial statements, related notes or schedules or other data of a statistical or financial nature included in or omitted from the Offering
Circular and the Disclosure Package. 
  

	1 	Introduction to be modified as appropriate for future issuances. 

  
 B-2-1 

 EXHIBIT B-3 

OPINION OF EXTERNAL COUNSEL TO THE ISSUING BANK AND THE PARENT 

Pursuant to Section 6(a)(i)(C) of the Distribution Agreement, external counsel to the Issuing Bank shall furnish to the Dealers an
opinion, with respect to the Issuing Bank, to the effect that: 
 (i) Assuming the Distribution Agreement, the Agency
Agreement and the Interest Calculation Agreement have been duly authorized, executed and delivered by the Issuing Bank, they are valid and legally binding agreements of the Issuing Bank, enforceable in accordance with their respective terms, subject
to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to, or affecting, the rights of creditors of national banking associations, including laws relating to conservatorship and
receivership of insured depository institutions, and general equity principles and except as rights under the Distribution Agreement and the Agency Agreement to indemnity and contribution may be limited by federal or state laws. 

(ii) Assuming that Bank Notes are (a) offered and sold in minimum denominations of $250,000 only to persons who are
“accredited investors”, as defined in Rule 501(a) under the 1933 Act, (b) purchasers receive an Offering Circular, excluding the documents incorporated by reference therein, as required by 12 C.F.R. part 16.6(a), and (c) the
Issuing Bank files the Offering Circular and any amendments thereto, excluding the documents incorporated by reference therein, with the Office of the Comptroller of the Currency (“OCC”) no later than the fifth business day after they are
first used, then the offer and sale of the Bank Notes will comply with 12 C.F.R. Part 16.6(a). 
 (iii) Assuming the
Bank Notes are issued on the terms contemplated by the Distribution Agreement and the Offering Circular, the Bank Notes are exempt from registration under Section 3(a)(2) of the 1933 Act. Neither registration of the Bank Notes under the 1933
Act nor qualification of an indenture under the Trust Indenture Act of 1939, as amended, will be required in connection with the offer, sale, issuance or delivery of such Bank Notes pursuant to the Distribution Agreement or any applicable agreement
by a Dealer party to the Distribution Agreement to purchase the Bank Notes as principal. 
 (iv) The statements contained in
the Offering Circular under the heading “Certain U.S. Federal Tax Considerations” to the extent that they constitute matters of U.S. federal income tax law or legal conclusions with respect thereto, and under the heading “ERISA
Considerations”, subject to the qualifications set forth therein to the extent that they constitute matters of United States law or legal conclusions with respect thereto, are correct in all material respects. 

  
 B-3-1 

 In the course of such counsel’s participation in the preparation of the Offering Circular
and Disclosure Package, such counsel has participated in conferences with officers and other representatives of Parent and the Issuing Bank, representatives of and counsel for the Agents and representatives of the registered independent public
accounting firm of Parent, during which the contents of the Offering Circular and Disclosure Package were discussed. Although such counsel has not independently checked or verified, and is not passing upon and assumes no responsibility for, the
accuracy, completeness or fairness thereof, or otherwise verified the statements made therein (except as set forth in paragraph (iv) above), nothing has come to such counsel’s attention that would lead such counsel to believe that the
Disclosure Package (including the documents incorporated by reference therein), as of [—] [AM/PM] Eastern Time on [—],[—], and the Offering Circular as of its date and as of the date hereof contained or contain, as applicable, any untrue statement of a material fact or omitted or omit, as applicable, to state any
material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made, not misleading, except such counsel need not express any opinion or belief as to the financial statements, related notes
or schedules or other data of a statistical or financial nature included in or omitted from the Offering Circular and the Disclosure Package. 

  
 B-3-2 

 EXHIBIT C 

ISSUING BANK 
 OFFICERS’
CERTIFICATE 
 Pursuant to Section 6(b) of the Distribution Agreement, dated January 16, 2014, (the “Distribution
Agreement”), among PNC Bank, National Association (the “Issuing Bank”), Citigroup Global Markets Inc. and each of the other Dealers listed on Schedule I thereto, the undersigned officer hereby certifies, on behalf of the Issuing
Bank, that: 
 (i) since the respective dates as of which information is given in the Offering Circular [if a Settlement
Date: “and the Disclosure Package”], there has not been any material adverse change in the condition, financial or otherwise, business affairs, business prospects or results of operations, or any development reasonably likely to result
in a prospective material adverse change in the financial condition or results of operations, of the Issuing Bank and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, other than as set forth
or contemplated in the Offering Circular [if a Settlement Date: and the Disclosure Package] as amended or supplemented to the date hereof, including the material incorporated by reference therein; 

(ii) the representations and warranties of the Issuing Bank contained in Section 2 of the Distribution Agreement are true
and correct with the same force and effect as though expressly made at and as of the date hereof except for those representations and warranties that expressly relate to an earlier date, which are true and correct as of such date; and 

(iii) the Issuing Bank has performed or complied with all agreements and satisfied all conditions on its part to be performed
or satisfied pursuant to the Distribution Agreement at or prior to the date hereof in all material respects. 
 For the purpose hereof,
capitalized terms used herein which have been defined in the Distribution Agreement shall have the meanings ascribed to them in the Distribution Agreement. 

  
 C-1 

 EXHIBIT C 

IN WITNESS WHEREOF, this certificate has been executed and delivered this      day of
            . 
  

					
	PNC BANK, NATIONAL ASSOCIATION
			
			by 		  

					 Name:
 Title:

  
 C-2 

 EXHIBIT D 

THE PNC FINANCIAL SERVICES GROUP, INC. 

REPRESENTATIONS CERTIFICATE 

Pursuant to Section 6(c) of the Distribution Agreement, dated January 16, 2014(the “Distribution Agreement”), among PNC
Bank, National Association (the “Issuing Bank”), Citigroup Global Markets Inc. and each of the other dealers listed on Schedule I thereto (collectively, the “Dealers”), the undersigned officer of The PNC Financial Services
Group, Inc. (the “Parent”), hereby represents and warrants on behalf of the Parent to each Dealer, as of the date hereof, as of each time that there is filed with the Securities and Exchange Commission (the “SEC”) any document
relating to the Parent incorporated by reference in the Offering Circular or the Disclosure Package, as of the date of each acceptance by the Issuing Bank of an offer for the purchase of Bank Notes (whether through such Dealer as agent or to such
Dealer as principal), as of each applicable Settlement Date and as of each applicable Representation Date as follows: 
 (i)
Authorization To Incorporate by Reference. The Parent has authorized the Issuing Bank to incorporate by reference in the Offering Circular or the Disclosure Package the Parent’s annual reports on Form 10-K for its most recently
ended fiscal year, quarterly reports on Form 10-Q since the last day of its most recently ended fiscal year, current reports on Form 8-K since the last day of its most recently ended fiscal year (and any and all amendments or supplements
thereto, other than information therein that, under the SEC’s rules, is deemed not to have been filed) and any other document filed by the Parent with the SEC pursuant to the Securities Exchange Act of 1934 (the “1934 Act”) and the
rules and regulations thereunder (the “Incorporated Documents”). 
 (ii) Incorporated Documents. The
Incorporated Documents, at the time they were filed with the applicable federal regulatory authorities, complied in all material respects with the requirements of the 1934 Act and the rules and regulations promulgated thereunder, or the rules and
regulations otherwise applicable thereto, as the case may be, and, when read together with the other information in the Offering Circular or the Disclosure Package, did not contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

(iii) Financial Statements. The financial statements and other financial information of the Parent and its consolidated
subsidiaries included or incorporated by reference in the Offering Circular or the Disclosure Package fairly present, in all material respects the consolidated financial condition of the Parent and its consolidated subsidiaries as of the dates
indicated therein and the consolidated results of their operations for the periods specified therein; and such financial statements have been prepared in conformity with generally accepted accounting principles in the United States except as
otherwise disclosed therein. 

  
 D-1 

 (iv) No Material Adverse Change. Since the respective dates as of which
information is given in the Offering Circular or the Disclosure Package, there has not been any material adverse change in the condition, financial or otherwise, business affairs, business prospects or results of operations, or any development that
could be expected to result in a prospective material adverse change in the condition, financial or otherwise, business affairs, business prospects or results of operations, of the Parent and its subsidiaries considered as one enterprise whether or
not arising in the ordinary course of business, other than as set forth or contemplated in the Offering Circular or the Disclosure Package (including the Incorporated Documents). 

All representations and warranties contained in this certificate shall remain operative and in full force and effect, regardless of any
investigation made by or on behalf of the Dealers or any controlling person of the Dealers, or by or on behalf of the Parent and, shall survive each delivery of and payment for any of the Bank Notes. 

For the purpose hereof, capitalized terms used herein which have been defined in the Distribution Agreement shall have the meanings ascribed
to them in the Distribution Agreement. 
 IN WITNESS WHEREOF, this certificate has been executed and delivered on behalf of the Parent this
     day of             . 
  

					
	THE PNC FINANCIAL SERVICES GROUP, INC.
			
			by 		  

					 Name:
 Title:

  
 D-2 

 EXHIBIT E-1 

PNC BANK, NATIONAL ASSOCIATION 

Bank Notes with Maturities of 

More than nine months from Date of Issue 

Dealer Agreement 
 [date]

 [Name of Dealer] 
 [Address of Dealer] 

Ladies and Gentlemen: 
 Reference is made to the
Distribution Agreement (including the exhibits thereto) dated, as of January 16, 2014(the “Distribution Agreement”), among PNC Bank, National Association (the “Issuing Bank”), a bank organized under the laws of the United
States, Citigroup Global Markets Inc. and each of the other Dealers listed on Schedule I thereto with respect to the issue and sale by the Issuing Bank of the Bank Notes (as such term is defined in the Distribution Agreement). A conformed copy
of the Distribution Agreement has been attached hereto as Annex A. 
 WHEREAS the Issuing Bank is permitted under the terms of the
Distribution Agreement to appoint additional dealers for the purpose of soliciting purchases of the Bank Notes upon such terms as the Issuing Bank and such dealers may agree; and 

WHEREAS [Name of dealer] and the Issuing Bank wish to enter into an agreement appointing [Name of Dealer] as an additional dealer with respect
to the Bank Notes. 
 NOW, THEREFORE, in consideration of the mutual agreements set forth herein, the Issuing Bank hereby agrees that [Name
of Dealer] shall become an additional Dealer (as defined herein) with respect to the Bank Notes and [Name of Dealer] hereby agrees to become a Dealer with respect to the Bank Notes and to be bound by the terms and conditions of the Distribution
Agreement, which terms and conditions are hereby incorporated by reference herein except that the terms “Dealer” and “Dealers” shall instead mean or include [Name of Dealer]. No person other than [Name of Dealer] shall be deemed
to be a Dealer under this Agreement. 
 This Agreement may be signed in counterparts, each of which shall be deemed an original, which taken
together shall constitute one and the same instrument. 
 If the foregoing is in accordance with your understanding of our agreement please
sign and return to us the enclosed duplicate hereof, whereupon this letter, including Annex A, and your acceptance shall represent a binding agreement between you and the Issuing Bank in accordance with its terms. 

  
 E-1-1 

 
					
					Very truly yours,
	
	PNC BANK, NATIONAL ASSOCIATION
			
			by 		  

					 Name:
 Title:

  

					
	The foregoing Agreement is hereby confirmed and accepted as of the date first above written.
	
	[Name of Dealer]
			
			by 		  

					Name:
					Title:

  
 E-1-2 

 EXHIBIT E-2 

FORM OF SYNDICATED TERMS AGREEMENT 

[Date] 
 To: The Dealers Listed on Annex 1 Hereto

 In care of
                                        , (the
“Lead Dealer”) 
 PNC Bank, National Association (the “Issuer”) 

U.S.$ 25,000,000,000 Global Bank Note Program 

Ladies and Gentlemen: 
 Subject to the terms and
conditions of the Distribution Agreement, dated January 16, 2014, among the Issuer, Citigroup Global Markets Inc. and the other dealers listed on Schedule I thereto (together with the dealers named in Annex 1 hereto, the
“Dealers”) concerning the sale of Bank Notes to be issued by the Issuer, as amended or supplemented (the “Distribution Agreement”), the dealers named in Annex 1 hereto agree to purchase on a syndicated basis the
                     Bank Notes due
                     of the Issuer (the “Notes”), described in the Pricing Supplement attached as Annex 2 hereto, on the terms set out
in such Pricing Supplement and on the terms set out below. Unless otherwise defined herein, all terms used herein have the meanings given to them in the Distribution Agreement. 

1. Subject to the terms and conditions of the Distribution Agreement and this Agreement, the Issuer hereby agrees to issue the Notes, and the
Dealers severally agree to purchase the Notes at the purchase price of     % per Note (being equal to the issue price of     % of the principal amount less a management and underwriting fee of
    % of the principal amount and a selling concession of     % of the principal amount). 
 2. The
Applicable Time for purposes of this Agreement is [—] [AM/PM] (Eastern time)
on                    . 
 3. The
purchase price specified above will be paid by the Lead Dealer on behalf of the Dealers by wire transfer in immediately available funds to the Issuer at [             time] on
                    , or at such other time and/or date as the Issuer and the Lead Dealer on behalf of the Dealers may agree (the “Settlement
Time”) against delivery of the Notes to or upon your order in the manner contemplated in the Distribution Agreement and the Agency Agreement. 

4. The Dealers’ obligations hereunder are conditioned on (a) the receipt of: (i) opinions of counsel described in
Section 6(a)(i)(A) of the Distribution Agreement, dated as of the Settlement Time, (ii) a “comfort letter” described in Section 6(e) of the 

  
 E-2-1 

 
Distribution Agreement, dated as of the Settlement Time, (iii) the officers’ certificates described in Section 6(b) and Section 6(c) of the Distribution Agreement, dated as of
the Settlement Time; (b) since the date of this Agreement, there having not occurred, in the opinion of the Dealers, a change in financial, political or economic conditions as would be likely to prejudice materially the sale by the Dealers of
the Notes; and (c) such other opinions, certificates and documents as may be agreed by the Issuer and the Dealers on or prior to the date of this Agreement. 

5. The Issuer hereby appoints each Dealer party hereto which is not a party to the Distribution Agreement (each a “New Dealer”) as a
Dealer under the Distribution Agreement solely for the purposes of the issue of the Notes (the “Issue”), pursuant to Section 1(a) of the Distribution Agreement. Each such New Dealer shall be vested, in relation to the Issue, with all
authority, rights, powers, duties and obligations of a Dealer purchasing Bank Notes pursuant to the Distribution Agreement, as if originally named as a Dealer under the Distribution Agreement. 

In consideration of the Issuer appointing each New Dealer as a Dealer with respect to the Issue, each New Dealer hereby undertakes for the
benefit of the Issuer and each of the other Dealers, that, in relation to the Issue it will perform and comply with all of the duties and obligations expressed to be assumed by a Dealer under the Distribution Agreement, a copy of which it
acknowledges it has received. 
 Each New Dealer acknowledges that such appointment is limited to the Issue and is not for any other issue
of Bank Notes of the Issuer pursuant to the Distribution Agreement and that such appointment will terminate upon issue of the Bank Notes comprising the Issue but without prejudice to any rights, duties or obligations which have arisen prior to such
termination. 
 For the purposes hereof, the notice details of each New Dealer are as follows (insert name, address, telephone, telecopy and
attention): 
 [insert notice details] 

This Agreement is a Syndicated Terms Agreement referred to in the Distribution Agreement and shall be governed by and construed in accordance
with the law of the State of New York, without regard to conflicts of law principles. 
  

					
					Very truly yours,
	
	[DEALERS] [NEW DEALERS],
			
			by 		  

					 Name:
 Title:

  
 E-2-2 

					
	Accepted: [Date]
	
	PNC BANK, NATIONAL ASSOCIATION
			
			by 		  

					Name:
					Title:

  
 E-2-3 

 ANNEX 1 
  

					
	DEALER	  	PRINCIPAL AMOUNT
OF NOTES	 
		
		  			
		
		  			
	 TOTAL
	  	 	            	  
		  	  
	  
	 

  
 E-2-4 

 ANNEX 2 

[ATTACH PRICING SUPPLEMENT] 

  
 E-2-5 

 EXHIBIT F 

PNC BANK, NATIONAL ASSOCIATION 

Certificate of Secretary 
 I, [—], Secretary of PNC Bank, National Association (the “Company”), do hereby certify as follows: 

1. The Company’s Amended and Restated Articles of Association and all amendments thereto, as attached to the Certificate of Secretary of
the Company, dated [—], 2013, have not been amended, modified, rescinded or revoked and are in full force and effect on the date hereof. 

2. The By-Laws of the Company, as attached to the Certificate of Secretary of the Company, dated
[—], 2013, have not been amended, modified, rescinded or revoked and are in full force and effect on the date hereof. 

3. The resolutions adopted by the Board of Directors of the Company dated [—] 2013, and
attached to the Certificate of Secretary of the Company, dated [—], 2013, have not been amended, modified, rescinded or revoked and are in full force and effect on the date hereof. 

4. Each person who, as an officer of the Company, signed any certificate or other document delivered in connection with the base offering
circular dated [—], 2013, the preliminary offering circular supplement dated [—] or the final offering circular supplement dated [—] was duly elected and appointed to, and the incumbent of, the office he or she purported to hold at the time of such execution, and those officers’ signatures as set forth in the Certificate of
Incumbency attached to the Certificate of Secretary of the Company, dated [—], 2013 are each such officer’s genuine signature. 

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Company as of this
[—] day of [—]. 
  

	
	  

	Name:
	Position:

  
 F-1 

 EXHIBIT G 

CONTROLLER’S CERTIFICATE 

The undersigned, Controller of The PNC Financial Services Group, Inc. (the “Corporation”), hereby certifies that as of the
date hereof: 
  

	 	1.	I have reviewed the information set forth in the final offering circular supplement of PNC Bank, National Association, dated [—], under the caption “[—]”, (the “Supplement Section”). The information presented in the Supplement Section, when viewed together with the documents incorporated by reference therein, provides a fair and
accurate summary of the Corporation’s financial position and results of operations for the quarter ended [—], and the financial data presented therein is accurately derived from the
Corporation’s accounting records. 

  

	 	2.	I have compared each item marked on the attached copies of the Supplement Section with the amount included in the Corporation’s accounting records or on a schedule or report prepared by the Corporation from its
accounting records and found them to be in agreement. 

  

	 	3.	No facts have come to my attention that have caused me to believe that the historical financial data presented in the Supplement Section is not prepared in accordance with generally accepted accounting principles on a
basis substantially consistent with that of the consolidated financial statements of the Corporation and its subsidiaries audited by PricewaterhouseCoopers LLP and included in the [—] Annual Report
of the Corporation on Form 10-K. 

 [Signature Page Follows] 

  
 G-1 

 IN WITNESS WHEREOF, the undersigned has executed this Controller’s Certificate as of the
date first set forth above. 
  

							
	THE PNC FINANCIAL SERVICES GROUP, INC.,
			
			by 		  

					Name:		
				
					Title:		Controller

  
 G-2 

 SCHEDULE 2(a)(i) 

Information provided by the Dealers 

to the Issuing Bank for use in  

the Offering Circular 
 The
information in the sixth and seventh paragraphs of the “Plan of Distribution” section of the Offering Circular. 

  
 S-2(a)(i)-1 

 SCHEDULE I 

Contact Information for  

Notices to Dealers 
 Citigroup Global
Markets Inc. 
 388 Greenwich Street 
 New York, New York
10013 
 Attention: Transaction Execution Group 
 Phone:
212-816-1135 
 Fax: 646-291-5209 
 Barclays Capital Inc.

 745 Seventh Avenue, 5th Floor 
 New York, New York 10019

 Attention: Syndicate Registration 
 Phone: 888-603-5847 

Fax: 636-284-0844 
 Credit Suisse Securities (USA) LLC

 Eleven Madison Avenue 
 New York, New York 10010-3629

 Attention: Short and Medium Term Finance 
 Phone:
212-325-7198 
 Fax: 212-743-5825 
 Deutsche Bank Securities
Inc. 
 60 Wall Street 
 New York, New York 10005 

Attention: Debt Capital Markets Syndicate 
 Fax: 212-797-2202 

with a copy to: 
 General Counsel 

Fax: 212-797-4561 
 Goldman, Sachs & Co. 

200 West Street 
 New York, New York 10282 

Attention: Prospectus Department 
 Phone: 866-471-2526 

Fax: 212-902-9316 
 E-mail: prospectus-ny@ny.email.gs.com 

  
 S-I-1 

 Jefferies LLC 

520 Madison Avenue 
 New York, New York 10022 

Attention: General Counsel 
 Phone: 212-284-8188 

Fax: 646-785-5992 
 J.P. Morgan Securities LLC 

383 Madison Avenue 
 New York, New York 10179 

Attention: Investment Grade Syndicate Desk 
 Phone: 212-834-4533

 Fax: 212-834-6081 
 Merrill Lynch, Pierce,
Fenner & Smith Incorporated 
 50 Rockefeller Plaza 

NY1-050-12-01 
 New York, NY 10020 

Attention: High Grade Debt Capital markets Transaction Management/Legal 

Phone: 646-855-0724 
 Fax: 212-901-7881 

Morgan Stanley & Co. LLC 
 1585 Broadway 

New York, New York 10036 
 Attention: Investment Banking Division

 Phone: 212-761-6691 
 Fax: 212-507-8999 

PNC Capital Markets LLC 
 225 Fifth Avenue, 5th Floor 

Pittsburgh, PA 15222 
 Attention: Jimil B. Wilson 

Phone: 412-762-8420 
 Fax: 412-762-9124 

with a copy to: 
 Leonard S. Ferleger 

One PNC Plaza, 21st Floor 
 249 Fifth Avenue 

Pittsburgh, PA 15222 
 Phone: 412-768-7194 

Fax: 412-705-2148 

  
 S-I-2 

 Sandler O’Neill & Partners, L.P. 

1251 Avenue of the Americas, 6th Floor 
 New York, NY 10020 

Attention: Syndicate 
 Phone: 212-466-7800 

Fax: 212-466-7991 
 U.S. Bancorp Investments, Inc. 

214 North Tryon Street, 26th Floor 
 Charlotte, North Carolina
28202 
 Attention: High Grade Syndicate 
 Phone: 877-558-2607

 Fax: 877-774-3642 
 Wells Fargo Securities, LLC 

550 S. Tryon Street, 5th Floor 
 Charlotte, North Carolina 28202

 Attention: Transaction Management 
 Phone: 704-410-4792 

Fax: 704-410-0326 

  
 S-I-3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00241-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00241-of-00352.parquet"}]]