Document:

fate-ex1017_612.htm

Exhibit 10.17

December 15, 2014

Page 1

 

SUBLEASE

	
1.
	
PARTIES.

This Sublease, dated December 15, 2014 is made between THE SCRIPPS RESEARCH INSTITUTE (“Sublessor”), and FATE THERAPEUTICS, INC. (“Sublessee”).

	
2.
	
MASTER LEASE.

Sublessor is the lessee under a written lease dated September 27, 2007, as amended by the First Amendment to Lease, dated May 1, 2013 (collectively the “Master Lease”), wherein ARE-3535/3565 GENERAL ATOMICS COURT, LLC (“Lessor”) leased to Sublessor the real property located in the City of San Diego, County of San Diego, State of California, described as: 19,606 rentable square feet of the first floor and 1,570 usable square feet of the parking garage of a building located at 3535 General Atomics Ct., San Diego, CA 92121 (“Master Premises”). Master Lease is shown in Exhibit B. All capitalized terms used in this Sublease, if not defined herein, shall have the meanings ascribed to such terms as provided in the Master Lease. 

	
3.
	
PREMISES.

Sublessor hereby subleases to Sublessee on the terms and conditions set forth in this Sublease the following portion of the Master Premises: approximately 5,620 rentable square feet (5,155 usable square feet) along with unrestricted access to the common areas required to enter and exit the Premises from the Building lobby as shown in Exhibit A (the “Premises”). 

	
4.
	
USE.

General office, laboratory and other support functions for a biotechnology company. 

	
5.
	
OPERATING HOURS. 

Sublessee shall have 24 hours per day, 7 days per week, 365 days per year access to Premises. 

	
6.
	
WARRANTY BY SUBLESSOR. 

Sublessor warrants and represents to Sublessee that to the best of its actual knowledge as of the date of this Sublease referenced above that Sublessor is not in default or breach of any of the provisions of the Master Lease, and that Sublessor has not received notice from the Lessor of any claim by Lessor that Sublessor is in default or breach of any of the provisions of the Master Lease. 

	
7.
	
TERM. 

The Term of this Sublease shall commence on the date of the last to occur of the following conditions (the “Commencement Date”): (i) possession of the Premises has been given to Sublessee by Sublessor with substantial completion of the Tenant Improvements (described in Section 10 below) and the Construction (as described in Section 18 below), and (ii) Lessor consents to this Sublease and Sublessee receives a letter from the Lessor consenting to this executed Sublease. The Commencement Date is estimated to occur on approximately January 16, 2015, such date to be adjusted based on the actual date of commencement; provided, however, that in no event shall this Sublease commence before January 16, 2015. In the event that this Sublease has not commenced by February 15, 2015, Sublessee shall have the right upon five (5) days’ written notice to Sublessor to terminate the Sublease and all payments paid by Sublessee to Sublessor shall be promptly refunded. This Sublease shall expire on September 30, 2017. The “Term” shall mean the period commencing on the Commencement Date and ending on expiration or earlier termination of this Sublease. For clarity, in the event that Sublessee terminates this Sublease in accordance with the foregoing, all consideration previously paid by Sublessee to Sublessor on account of this Sublease shall be returned to Sublessee, this Sublease shall thereafter be of no further force or effect, and neither party shall have any further liability to the other party on account of such delay or cancellation.

 

December 15, 2014

Page 2

 

	
8.
	
RENT.  

Sublessee shall pay to Sublessor as Rent, without deduction, setoff, notice or demand, at The Scripps Research Institute, 10550 North Torrey Pines Road, La Jolla, CA 92037, or at such other place as Sublessor shall designate from time to time by written notice to Sublessee, paid on the first day of each month of the Term, Sublessor’s current actual rental rate per the Master Lease, estimated to be the amount of $4.31 per rentable square feet (“RSF”) times the 5,620 rentable square feet of the Premises, as of the Commencement Date of the Sublease, which rental rate shall increase by Sublessor’s actual increased rental rate per the Master Lease as of the first day of November of each year during the Term. Sublessee shall pay to Sublessor upon execution of this Sublease, and Sublessee’s receipt of a letter from Lessor consenting to this executed Sublease, $24,222.20 as Rent for the first month of the Term. If the Term begins on a day other than the first day of a month, the Rent for the partial months shall be prorated on a per diem basis based on the actual number of days in the month in which the Sublease commences. Additional provisions:

	
 
	
·
	
Sublessee shall also deposit with Sublessor $24,222.20 as a security deposit (“Security Deposit”), in the form of cash or check, at the sole discretion of Sublessee, upon execution of this Sublease and Sublessee’s receipt of a letter from the Lessor consenting to this executed Sublease. The Security Deposit shall be held by Sublessor as security for the performance of Sublessee’s obligations under this Sublease. The Security Deposit, or any balance thereof (i.e., after deducting therefrom all amounts to which Sublessor is entitled under the provisions of this Sublease) shall be returned to Sublessee within sixty (60) days after the expiration or earlier termination of this Sublease. If Sublessor transfers its interest in this Sublease, Sublessor shall either (1) transfer any Security Deposit then held by Sublessor to a person or entity assuming Sublessor’s obligations or (2) return to Sublessee any Security Deposit then held by Sublessor and remaining after any deductions permitted under this Sublease.

	
 
	
·
	
During the Term, Sublessee shall pay to Sublessor its pro-rata share, on a direct pass through basis as charged to Sublessor by Lessor, of all operating expense costs charged to Sublessor under the Master Lease. For purposes of clarification, the parties mutually agree that Sublessee’s pro-rata share (i.e., the proportional share the Premises bears to the Master Premises) shall be set at 26.83% of the total cost of the above-referenced operating expenses charged to Sublessor under the Master Lease. One twelfth (1/12) of the annualized amounts owed by Sublessee under this section for operating costs shall be paid to Sublessor on the first day of each month during the Term. 

	
 
	
·
	
Sublessor shall be entitled to use all or any portion of the Security Deposit, as reasonably necessary, to (i) cure Sublessee’s default in the payment of Rent, operating expenses, and/or any other amounts due under this Sublease; (ii) repair any damage or loss, excluding ordinary wear and tear, caused or contributed to by Sublessee or its invitees; (iii) clean the Premises, if necessary to return the Premises to the condition it was in prior to Sublessee occupying the Premises, upon the expiration or termination of this Sublease; and/or (iv) replace or restore furnishings, fixtures, equipment or other appurtenances other than due to normal wear and tear as a result of Sublessee’s use of the Premises. The Security Deposit shall not be used by Sublessee in lieu of payment of the last months’ Rent. If all or any portion of the Security Deposit is used by Sublessor as permitted hereunder during the Term, Sublessee agrees to pay to Sublessor an amount sufficient to reinstate the Security Deposit to its original amount within five (5) days after receiving Sublessor’s written notice to reinstate such Security Deposit. In addition, no interest will be paid on the Security Deposit. 

	
9.
	
OTHER PROVISIONS OF SUBLEASE. 

The terms and conditions of the Master Lease are hereby incorporated into and made a part of this Sublease as if Sublessor was the Landlord thereunder, Sublessee was the Tenant thereunder, and the Premises was the Master Premises, except for the following: (1) Sublessee shall have no restoration obligation related to Telecommunications Installations or Linking Work as described in Section 11 of the Master Lease, (2) Sublessee’s only obligations with respect to repairs and restoration shall be those repairs that are necessary due to any damage, loss, action or inaction caused by Sublessee or its invitees, (3) the terms of Exhibit C Work Letter do not apply to Sublessee. Sublessee assumes and agrees to perform all of the Sublessor’s obligations under the Master Lease during the Term to the extent that such obligations would reasonably apply to the Premises, except that the obligation to pay rent and operating expenses to Lessor under the Master Lease shall be considered performed by Sublessee only when Sublessee timely pays the amount of rent and operating costs to Sublessor in accordance with Section 8 of this Sublease. Sublessee shall not commit or suffer any act or omission that will violate any of the provisions of the Master Lease. Sublessor shall exercise due diligence in attempting to cause Lessor to perform its obligations under 

 

December 15, 2014

Page 3

 

the Master Lease for the benefit of Sublessee (but shall not be liable to Sublessee in any way for Lessor’s inability or failure to perform Lessor’s obligations), and shall not voluntarily terminate Master Lease. If the Master Lease terminates, this Sublease shall automatically terminate and the parties shall be relieved of any further liability or obligation under this Sublease, except for any of Sublessee’s obligations that accrued prior to the termination date of the Master Lease. Notwithstanding the foregoing, if the Master Lease gives Sublessor any right to terminate the Master Lease in the event of the partial or total damage, destruction, or condemnation of the Master Premises or the building or project of which the Master Premises are a part, the exercise of such right by Sublessor shall not constitute a default or breach hereunder. 

	
10.
	
TENANT IMPROVEMENTS. 

Sublessor, at Sublessor’s sole expense, shall: (1) repair/replace any defective or damaged flooring, millwork, ceiling tiles, light fixtures and window blinds in the Premises, (2) re-key the locks to doors leading into Premises such that Sublessee will have secure access to Premises, and (3) shall thoroughly clean Premises. Sublessor shall also separate the data cabling serving the Premises from the main data room so that Sublessee can, at Sublessee’s sole expense, set up its own secure network within Premises. 

	
11.
	
HAZARDOUS MATERIALS. 

Sublessor shall deliver Premises free of any Hazardous Materials and shall provide Sublessee with a certified statement from a commercially recognized third party environmental services firm stating that the Premises is free from Hazardous Materials as of the date Sublessor delivers possession of the Premises to Sublessee. In addition to Sublessee’s indemnity to Sublessor pursuant to Section 16 of the Master Lease, Sublessee shall indemnify Sublessor from any claims arising from Sublessee’s use of any Hazardous Materials and shall use such materials in compliance with all governmental codes and restrictions. Sublessee shall have the right to bring into the Premises and use therein the Hazardous Materials listed in Exhibit C. In the event Sublessee desires to use any Hazardous Materials in the Premises other than those listed in Exhibit C, Sublessee shall, prior to such use, provide a list of such proposed additional Hazardous Materials to Sublessor and obtain the written approval of Sublessor and Lessor prior to any such use. Sublessee shall use all Hazardous Materials that are listed in Exhibit C and which may be approved in the future by Sublessor and Lessor in compliance with all applicable laws, ordinances and regulations. Upon the earlier expiration or termination of this Sublease, Sublessee shall remove all Hazardous Materials it has brought into Premises and shall provide Sublessor with a certified statement from a commercially recognized third party environmental services firm stating that the Premises is free from Hazardous Materials at the expiration or earlier termination of Sublease. 

	
12.
	
BUILDING CONDITION. 

Sublessor shall, or shall ensure that Lessor shall, provide that the roof, existing HVAC systems, electrical, lighting, fire sprinkler and plumbing systems serving and within the Premises (collectively the “Building Systems”) are in good working condition (ordinary wear and tear excepted), have recently been operated and have been regularly serviced. Sublessee shall have no obligation to maintain or repair any Building Systems unless caused by Sublessee’s or its invitees’ misuse or damage of such Building Systems. 

	
13.
	
ATTORNEYS’ FEES. 

If Sublessor or Sublessee shall commence legal action against the other arising out of or in connection with this Sublease, the prevailing party shall be entitled to recover its costs of suit and reasonable attorneys’ fees.

	
14.
	
COMMISSION. 

Sublessor shall pay a leasing commission for the procurement of the Sublessee to Hughes Marino upon Commencement of the Sublease equal to four percent (4%) of the aggregate Net Rent. There shall be no commission due related to the representation of Sublessor. 

 

December 15, 2014

Page 4

 

	
15.
	
AGENCY DISCLOSURE.  

Sublessor and Sublessee each warrant that they have dealt with no other real estate broker in connection with this transaction except Hughes Marino which represents both Sublessor and Sublessee. Sublessor and Sublessee hereby confirm that they were timely advised of the dual representation and that they consent to the same, and that they do not expect Hughes Marino to disclose to either of them the confidential information of the other party. 

	
16.
	
NOTICES. 

All notices and demands which may or are to be required or permitted to be given by either Sublessor or Sublessee on the other hereunder shall be in writing. All notices and demands by the Sublessor to Sublessee shall be mailed to the Sublessee at the Premises, or to such other place as Sublessee may from time to time designate in a notice to the Sublessor. All notices and demands by the Sublessee to Sublessor shall be mailed to the Sublessor at the address set forth above, and to such other person or place as the Sublessor may from time to time designate in a notice to the Sublessee. 

	
17.
	
ENTIRE AGREEMENT 

This Sublease, including the Exhibits and documents referenced herein, contains the entire understanding of the parties with respect to the subject matter hereof and supersedes all prior agreements or understandings regarding this subject matter. This Agreement shall not be modified except in writing signed by both Sublessor and Sublessee. 

	
18.
	
EXTENSION OF COMMENCEMENT DATE 

The parties acknowledge that during December, 2014, Lessor will be making certain improvements to the Building where the Premises are located, which will involve some work in the Premises and the Master Premises (the “Construction”). The work in the Premises is scheduled to be completed by December 31, 2014. In the event that the Construction is not substantially completed by January 15, 2015 so as to provide Sublessee with use and enjoyment of the Premises without substantial disturbance to its overall business operations caused by such Construction, Sublessee shall have the right to extend the Commencement Date, by written notice to Sublessor, to the date when such Construction is substantially complete so that Sublessee has use and enjoyment of the Premises without substantial disturbance to its overall business operations caused by such Construction. Sublessee’s rights under this Section 18 are in addition to Sublessee’s rights under Section 7 of this Sublease. 

 

	
SUBLESSOR:
	
 
	
SUBLESSEE:

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ Donna Weston
	
 
	
By:
	
 
	
/s/ Scott Wolchko

	
Name:
	
 
	
Donna Weston
	
 
	
Name:
	
 
	
Scott Wolchko

	
Title:
	
 
	
CFO
	
 
	
Title:
	
 
	
CFO

	
Date:
	
 
	
12/16/2014
	
 
	
Date:
	
 
	
15 Dec 2014

 

 

December 15, 2014

Page 5

 

Exhibit A – Premises

 

 

 

December 15, 2014

Page 6

 

Exhibit B – Copy of Master Lease

 

 

 

 

December 15, 2014

Page 7

 

Exhibit C – List of Sublessee Hazardous Materials

 

 

 

December 15, 2014

Page 8EX-4.1

 Exhibit 4.1 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE
THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN
THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER, CEDE & CO., HAS AN INTEREST HEREIN. 
 THIS SECURITY IS NOT A DEPOSIT OR OTHER OBLIGATION OF A
DEPOSITORY INSTITUTION AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY. 

 SUNTRUST BANKS, INC. 

[●]% Senior Note due 20[●] 
  

			
	No.: [●]	  	$[●]
	CUSIP: [●]	  	
	ISIN: [●]	  	

 SUNTRUST BANKS, INC., a corporation organized and existing under the laws of Georgia (hereinafter called the
“Company”, which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of [●]
($[●]), or such other principal amount as may be set forth in the records of the Securities Registrar hereinafter referred to in accordance with the Indenture, on [●], 20[●] (the “Stated Maturity Date”). The
Company further promises to pay interest on said principal sum from [●], 2016 or from the most recent interest payment date (each such date, an “Interest Payment Date”) on which interest has been paid or duly provided for,
semi-annually in arrears on [●] and [●] of each year, commencing [●], 2016, at the rate of [●]% per annum until the principal hereof is paid or duly provided for or made available for payment. In the event that any
date, other than the Stated Maturity Date, on which interest is payable on this Security is not a Business Day then a payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any
interest or other payment in respect of any such delay), except that, if such Business Day is in the next succeeding calendar month, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as
if made on the date the payment was originally payable. In the event that the Stated Maturity Date is not a Business Day, the payment of interest and principal will be made on the next succeeding Business Day, and no interest on this Security or
such payment will accrue for the period from and after the Stated Maturity Date in respect of such delay. A “Business Day” shall mean any day other than a Saturday, Sunday, or any other day on which banking institutions and trust
companies in New York, New York or Atlanta, Georgia, are permitted or required by any applicable law to close. The interest installment so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in the
Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest installment, which shall be the fifteenth calendar day preceding
the relevant Interest Payment Date whether or not such day is a Business Day. Any such interest installment not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be
paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be
given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities
of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 

Payment of the principal of and interest on this Security will be made at the Corporate Trust office of the Trustee, or such other office or
agency of the Company maintained for that purpose in the Borough of Manhattan, New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and

 
private debts; provided, however, that at the option of the Company payment of interest may be made (i) by check mailed to the address of the Person entitled thereto as such address
shall appear in the Securities Register or (ii) by wire transfer in immediately available funds at such place and to such account as may be designated by the Person entitled thereto as specified in the Securities Register in writing not less
than ten days before the date of the interest payment. 
 Reference is hereby made to the further provisions of this Security set forth on
the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	SUNTRUST BANKS, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	Attest:	 	  

	Name:	 	
	Title:	 	

 This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an Indenture, dated as of September 10, 2007 (herein called the “Indenture”), between the Company and U.S. Bank National Association, as
Trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights,
limitations of rights, duties and immunities thereunder of the Trustee, the Company and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. By the terms of the Indenture, the
Securities are issuable in series that may vary as to amount, date of maturity, rate of interest, rank and in any other respect provided in the Indenture. 

All terms used in this Security that are defined in the Indenture and not otherwise defined herein shall have the meanings assigned to such
terms in the Indenture. 
 Interest on this Security will be calculated based on a 360-day year consisting of twelve 30-day months. 

The Securities of this series are subject to redemption upon not less than 10 nor more than 60 days’ notice by mail, at any time on or
after [●], 20[●], as a whole or in part, at the election of the Company, at a Redemption Price equal to 100% of the principal amount, together in the case of any such redemption with accrued but unpaid interest to the Redemption Date,
but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred
to on the face hereof, all as provided in the Indenture. 
 In the event of the redemption of this Security in part only, a new Security or
Securities of this series for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 

The Indenture permits, with certain exceptions as therein provided, the Company and the Trustee at any time to enter into a supplemental
indenture or indentures for the purpose of modifying in any manner the rights and obligations of the Company and of the Holders of the Securities, with the consent of the Holders of not less than a majority in principal amount of the Outstanding
Securities of each series to be affected by such supplemental indenture. The Indenture also contains provisions permitting Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of
the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security
shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Security. Notwithstanding the foregoing, without the consent of any Holder of Securities, the Company and the Trustee may amend or supplement the Indenture or the Securities to conform the terms of the Indenture and the
Securities to the description of the Securities in the prospectus supplement dated [●], 2016 relating to the offering of the Securities. 

 The Indenture contains provisions for defeasance at any time of the entire indebtedness of this
Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 

As provided in and subject to the provisions of the Indenture, if an Event of Default with respect to the Securities of this series at the
time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of this series may declare the principal amount of all the Securities of this
series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders). 
 No reference
herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Security at the times, place and
rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth,
the transfer of this Security is registrable in the Securities Register, upon surrender of this Security for registration of transfer at the office or agency of the Company maintained under Section 10.2 of the Indenture duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the Company and the Securities Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series,
of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. No service charge shall be made for any such registration of transfer or exchange, but the Company may require
payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of
this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee shall treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 The Securities of this
series are issuable only in registered form without coupons in minimum denominations of $5,000 and any integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of
this series are exchangeable for a like aggregate principal amount of Securities of such series of a different authorized denomination, as requested by the Holder surrendering the same. 

The Company and, by its acceptance of this Security or a beneficial interest therein, the Holder of, and any Person that acquires a beneficial
interest in, this Security agree that for U.S. federal, state and local tax purposes it is intended that this Security constitute indebtedness. 

The Indenture and this Security shall be governed by and construed in accordance with the laws of the State of New York. 

 This is one of the Securities referred to in the within mentioned Indenture. 

 

			
	 U.S. BANK NATIONAL ASSOCIATION

      Not in its individual capacity but solely

          as Trustee

		
	By:	 	  

		 	 AUTHORIZED OFFICER

 [FORM OF TRANSFER NOTICE] 

FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto 

Insert Taxpayer Identification No. 

Please print or typewrite name and address including zip code of assignee of the within Security and all rights thereunder, hereby irrevocably
constituting and appointing                      to transfer said Security on the books of the Company with full power of substitution in the
premises. 
  

	
	  
 By:

	Date:

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global Security have been made: 

 

									
	 Date of

Exchange
	 	 Amount of decrease in
Principal Amount of this
Global
Security
	 	 Amount of increase in

Principal Amount of this
 Global
Security
	 	 Principal Amount of this

Global Security following
 such
decrease or increase
	 	 Signature of authorized

officer of Trustee or
 Securities
Custodian

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