Document:

EX-4.6

 Exhibit 4.6 

WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY, 

Issuer 
 WILLIS TOWERS
WATSON SUB HOLDINGS UNLIMITED COMPANY 
 WILLIS NETHERLANDS HOLDINGS, B.V. 

WILLIS INVESTMENT UK HOLDINGS LIMITED 

TA I LIMITED 
 WILLIS
TOWERS WATSON UK HOLDINGS LIMITED 
 TRINITY ACQUISITION PLC 

WILLIS GROUP LIMITED 

WILLIS NORTH AMERICA INC., 

Guarantors 
 and 

COMPUTERSHARE TRUST COMPANY, N.A. 

Trustee 
 Indenture

 Dated as of 
 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	  	 	8	 
	Section 1.03.	  	Form of Documents Delivered to Trustee	  	 	9	 
	Section 1.04.	  	Acts of Holders	  	 	10	 
	Section 1.05.	  	Notices, etc., to Trustee and Issuer	  	 	11	 
	Section 1.06.	  	Notice to Holders; Waiver	  	 	11	 
	Section 1.07.	  	Conflict with Trust Indenture Act	  	 	12	 
	Section 1.08.	  	Effect of Headings and Table of Contents	  	 	12	 
	Section 1.09.	  	Successors and Assigns	  	 	12	 
	Section 1.10.	  	Separability Clause	  	 	12	 
	Section 1.11.	  	Benefits of Indenture	  	 	12	 
	Section 1.12.	  	Governing Law; Waiver of Trial by Jury	  	 	12	 
	Section 1.13.	  	Legal Holidays	  	 	13	 
	Section 1.14.	  	Submission to Jurisdiction	  	 	13	 
	Section 1.15.	  	Appointment of Agent for Service of Process	  	 	13	 
	Section 1.16.	  	Indemnification of Judgment Currency	  	 	14	 
	Section 1.17.	  	U.S.A. Patriot Act	  	 	14	 

 ARTICLE TWO 

SECURITY FORMS 
  

							
	Section 2.01.	  	Forms Generally	  	 	14	 
	Section 2.02.	  	Form of Trustee’s Certificate of Authentication	  	 	15	 
	Section 2.03.	  	Securities in Global Form	  	 	15	 

 ARTICLE THREE 

THE SECURITIES 
  

							
	Section 3.01.	  	Amount Unlimited; Issuable in Series	  	 	15	 
	Section 3.02.	  	Denominations	  	 	18	 
	Section 3.03.	  	Execution, Authentication, Delivery and Dating	  	 	18	 
	Section 3.04.	  	Temporary Securities	  	 	20	 
	Section 3.05.	  	Registration, Registration of Transfer and Exchange of Global Securities Representing the Securities	  	 	20	 
	Section 3.06.	  	Mutilated, Destroyed, Lost and Stolen Securities	  	 	23	 
	Section 3.07.	  	Payment of Interest; Interest Rights Preserved	  	 	24	 
	Section 3.08.	  	Persons Deemed Owners	  	 	25	 
	Section 3.09.	  	Cancellation	  	 	25	 
	Section 3.10.	  	Computation of Interest	  	 	26	 
	Section 3.11.	  	CUSIP Numbers	  	 	26	 

  
 i 

 TABLE OF CONTENTS 

(continued) 
 Page 

ARTICLE FOUR 
 SATISFACTION AND
DISCHARGE; DEFEASANCE 
  

							
	Section 4.01.	  	Satisfaction and Discharge of Securities of any Series	  	 	26	 
	Section 4.02.	  	Option to Effect Legal Defeasance or Covenant Defeasance	  	 	27	 
	Section 4.03.	  	Legal Defeasance and Discharge	  	 	27	 
	Section 4.04.	  	Covenant Defeasance	  	 	28	 
	Section 4.05.	  	Conditions to Legal or Covenant Defeasance	  	 	28	 
	Section 4.06.	  	Survival of Certain Obligations	  	 	30	 
	Section 4.07.	  	Application of Trust Money	  	 	30	 
	Section 4.08.	  	Repayment of Moneys Held by Paying Agent	  	 	30	 
	Section 4.09.	  	Reinstatement	  	 	30	 

 ARTICLE FIVE 

REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT 
  

							
	Section 5.01.	  	Events of Default	  	 	31	 
	Section 5.02.	  	Acceleration of Maturity; Rescission and Annulment	  	 	32	 
	Section 5.03.	  	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	33	 
	Section 5.04.	  	Trustee May File Proofs of Claim	  	 	34	 
	Section 5.05.	  	Trustee May Enforce Claims without Possession of Securities	  	 	35	 
	Section 5.06.	  	Application of Money Collected	  	 	35	 
	Section 5.07.	  	Limitation on Suits	  	 	35	 
	Section 5.08.	  	Unconditional Right of Holders to Receive Principal, Premium and Interest	  	 	36	 
	Section 5.09.	  	Restoration of Rights and Remedies	  	 	36	 
	Section 5.10.	  	Rights and Remedies Cumulative	  	 	36	 
	Section 5.11.	  	Delay or Omission Not Waiver	  	 	36	 
	Section 5.12.	  	Control by Holders	  	 	37	 
	Section 5.13.	  	Waiver of Past Defaults	  	 	37	 
	Section 5.14.	  	Undertaking for Costs	  	 	37	 

 ARTICLE SIX 

THE TRUSTEE 
  

							
	Section 6.01.	  	Certain Duties and Responsibilities	  	 	38	 
	Section 6.02.	  	Notice of Defaults	  	 	39	 
	Section 6.03.	  	Certain Rights of Trustee	  	 	39	 
	Section 6.04.	  	Not Responsible for Recitals or Issuance of Securities	  	 	41	 
	Section 6.05.	  	May Hold Securities	  	 	41	 
	Section 6.06.	  	Money Held in Trust	  	 	42	 
	Section 6.07.	  	Compensation and Reimbursement	  	 	42	 
	Section 6.08.	  	Disqualification; Conflicting Interests	  	 	43	 
	Section 6.09.	  	Corporate Trustee Required; Eligibility	  	 	43	 

  
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 TABLE OF CONTENTS 

(continued) 
 Page 

 

							
	Section 6.10.	  	Resignation and Removal; Appointment of Successor	  	 	43	 
	Section 6.11.	  	Acceptance of Appointment by Successor	  	 	45	 
	Section 6.12.	  	Merger, Conversion, Consolidation or Succession to Business	  	 	46	 
	Section 6.13.	  	Preferential Collection of Claims Against Issuer	  	 	46	 

 ARTICLE SEVEN 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND ISSUER 
  

							
	Section 7.01.	  	Issuer to Furnish Trustee Names and Addresses of Holders	  	 	46	 
	Section 7.02.	  	Preservation of Information; Communications to Holders	  	 	47	 
	Section 7.03.	  	Reports by Trustee to Holders	  	 	47	 

 ARTICLE EIGHT 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
  

							
	Section 8.01.	  	Merger, Consolidation, etc,. Only on Certain Terms	  	 	47	 
	Section 8.02.	  	Successor Corporation Substituted	  	 	48	 

 ARTICLE NINE 

SUPPLEMENTAL INDENTURES 
  

							
	Section 9.01.	  	Supplemental Indentures without Consent of Holders	  	 	48	 
	Section 9.02.	  	Supplemental Indentures with Consent of Holders	  	 	49	 
	Section 9.03.	  	Execution of Supplemental Indentures	  	 	51	 
	Section 9.04.	  	Effect of Supplemental Indentures	  	 	51	 
	Section 9.05.	  	Conformity with Trust Indenture Act	  	 	51	 
	Section 9.06.	  	Reference in Securities to Supplemental Indentures	  	 	51	 
	Section 9.07.	  	Notice of Supplemental Indenture	  	 	51	 

 ARTICLE TEN 

COVENANTS 
  

							
	Section 10.01.	  	Payment of Principal, Premium and Interest	  	 	51	 
	Section 10.02.	  	Maintenance of Office or Agency	  	 	52	 
	Section 10.03.	  	Money for Securities Payments to Be Held in Trust	  	 	52	 
	Section 10.04.	  	Corporate Existence	  	 	53	 
	Section 10.05.	  	Payment of Taxes and Other Claims	  	 	54	 
	Section 10.06.	  	Maintenance of Properties	  	 	54	 
	Section 10.07.	  	Waiver of Certain Covenants	  	 	54	 
	Section 10.08.	  	Statement by Officers as to Default	  	 	54	 
	Section 10.09.	  	Reports by the Issuer	  	 	55	 
	Section 10.10.	  	Further Assurances	  	 	55	 

  
 iii 

 TABLE OF CONTENTS 

(continued) 
 Page 

ARTICLE ELEVEN 
 REDEMPTION OF
SECURITIES 
  

							
	Section 11.01.	  	Applicability of Article	  	 	56	 
	Section 11.02.	  	Election to Redeem; Notice to Trustee	  	 	56	 
	Section 11.03.	  	Selection by Trustee of Securities to Be Redeemed	  	 	56	 
	Section 11.04.	  	Notice of Redemption	  	 	57	 
	Section 11.05.	  	Deposit of Redemption Price	  	 	57	 
	Section 11.06.	  	Securities Payable on Redemption Date	  	 	57	 
	Section 11.07.	  	Securities Redeemed in Part	  	 	58	 
	Section 11.08.	  	Securities No Longer Outstanding After Notice to Trustee and Deposit of Cash	  	 	58	 

 ARTICLE TWELVE 

SINKING FUNDS 
  

							
	Section 12.01.	  	Applicability of Article	  	 	58	 
	Section 12.02.	  	Satisfaction of Sinking Fund Payments with Securities	  	 	59	 
	Section 12.03.	  	Redemption of Securities for Sinking Fund	  	 	59	 

 ARTICLE THIRTEEN 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, SHAREHOLDERS OFFICERS AND DIRECTORS 

 

							
	Section 13.01.	  	Exemption from Individual Liability	  	 	59	 

 ARTICLE FOURTEEN 

MEETINGS OF HOLDERS OF SECURITIES 
  

							
	Section 14.01.	  	Purposes of Meetings	  	 	60	 
	Section 14.02.	  	Call of Meetings by Trustee	  	 	60	 
	Section 14.03.	  	Call of Meetings by Issuer or Holders	  	 	61	 
	Section 14.04.	  	Qualification for Voting	  	 	61	 
	Section 14.05.	  	Quorum; Adjourned Meetings	  	 	61	 
	Section 14.06.	  	Regulations	  	 	62	 
	Section 14.07.	  	Voting Procedure	  	 	62	 
	Section 14.08.	  	Written Consent in Lieu of Meetings	  	 	63	 
	Section 14.09.	  	No Delay of Rights by Meeting	  	 	63	 

 ARTICLE FIFTEEN 

GUARANTEE OF SECURITIES 
  

							
	Section 15.01.	  	Guarantee	  	 	63	 
	Section 15.02.	  	Limitation on Liability	  	 	65	 
	Section 15.03.	  	Benefits Acknowledged	  	 	66	 

  
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 TABLE OF CONTENTS 

(continued) 
 Page

  

							
	Section 15.04.	  	Successors and Assigns	  	 	66	 
	Section 15.05.	  	No Waiver	  	 	66	 
	Section 15.06.	  	Modification	  	 	66	 

 ARTICLE SIXTEEN 

MISCELLANEOUS 
  

							
	Section 16.01.	  	Counterparts	  	 	67	 

  
 v 

 Reconciliation and Tie of this Indenture, 

relating to Sections 310 through 318, inclusive, of the 

Trust Indenture Act of 1939, as amended 
  

					
	 Trust Indenture Act Section
	  	Indenture Section	 
	 310 (a)(1)
	  	 	6.09	 
	 (a)(2)
	  	 	6.09	 
	 (a)(3)
	  	 
	Not
applicable	 
 
	 (a)(4)
	  	 
	Not
applicable	 
 
	 (a)(5)
	  	 	6.09	 
	 (b)
	  	 	6.08, 6.10	 
	 311 (a)
	  	 	6.13	 
	 (b)
	  	 	6.13	 
	 312 (a)
	  	 
	7.01
7.02	 
(a) 
	 (b)
	  	 	7.02	(b) 
	 (c)
	  	 	7.02	(c) 
	 313 (a)
	  	 	7.03	 
	 (b)(2)
	  	 	7.03	 
	 (c)
	  	 	7.03	 
	 (d)
	  	 	7.03	 
	 314 (a)
	  	 	10.09	 
	 (a)(4)
	  	 	10.08	 
	 (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	(a) 
	 (b)
	  	 	6.02	 
	 (c)
	  	 	6.01	(b) 
	 (d)
	  	 	6.01	(c) 
	 (e)
	  	 	5.14	 
	 316(a)
	  	 	1.01	 
	 316 (a)(1)(A)
	  	 	5.12	 
	 (a)(1)(B)
	  	 	5.13	 
	 (a)(2)
	  	 
	Not
applicable	 
 
	 (b)
	  	 	5.08	 
	 (c)
	  	 	1.04	(e) 
	 317 (a)(1)
	  	 	5.03	 
	 (a)(2)
	  	 	5.04	 
	 (b)
	  	 	10.03	 
	 318 (a)
	  	 	1.07	 

 NOTE: This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture. 

  
 vi 

 INDENTURE, dated as
of                , among WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY, a company organized and existing under the laws of Ireland, as issuer (the “Issuer”),
WILLIS TOWERS WATSON SUB HOLDINGS UNLIMITED COMPANY, a company organized and existing under the laws of Ireland , WILLIS NETHERLANDS HOLDINGS B.V., a company organized and existing under the laws of Netherlands, WILLIS INVESTMENT UK HOLDINGS
LIMITED, a company organized and existing under the laws of England and Wales, TA I LIMITED, a company organized and existing under the laws of England and Wales, WILLIS TOWERS WATSON UK HOLDINGS LIMITED, a company organized and existing under the
laws of England and Wales, TRINITY ACQUISITION PLC, a company organized and existing under the laws of England and Wales, WILLIS GROUP LIMITED, a company organized and existing under the laws of England and Wales and WILLIS NORTH AMERICA INC., a
Delaware corporation, as guarantors (collectively, the “Guarantors”), and Computershare Trust Company, N.A., a national banking association, as trustee (the “Trustee”). 

RECITALS OF THE ISSUER 
 The Issuer has
duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured debentures, notes or other evidences of indebtedness (the “Securities”), to be issued in one or more series as in
this Indenture provided. 
 All things necessary to make this Indenture a valid agreement of the Issuer and the Guarantors, in accordance with its terms,
have been done. 
 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 benefit of
each other and 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: 
  

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

  

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

  

	(c)	 all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP;
and 

  

	(d)	 the words “herein,” “hereof” 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. 

 Certain terms, used principally in
Article Seven, are defined in that Article. 
 “Act” when used with respect to any Holder, has the meaning specified in Section 1.04. 

“Affiliate” means, with respect to any specified Person, any other Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”),
as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or
otherwise. 
 “Agent” means any Security Registrar, Paying Agent, Authenticating Agent, Depositary Custodian or agent for service of notices and
demands. 
 “Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 3.03 to act on behalf of the Trustee to
authenticate Securities of one or more series. 
 “Authorized Newspaper” shall mean a newspaper of general circulation in the Borough of
Manhattan, The City of New York, and customarily published on each Business Day, currently expected to be The Wall Street Journal (National Edition). Where successive publications are required to be made in an Authorized Newspaper, the
successive publications may be made in the same or different newspapers meeting the foregoing requirements and in each case on any Business Day. 

“Bankruptcy Law” means (i) any and all relevant provisions of the Companies Act of 2014 of Ireland, as supplemented or amended, together with
all rules, regulations and instruments made thereunder and applicable Irish law relating to bankruptcy, insolvency, winding up, court protection, examinership, receivership or other similar matters, (ii) any and all relevant provisions of the
Bankruptcy Code of the Netherlands (“Faillissementswet”), as supplemented or amended, together with all rules, regulations and instruments made thereunder and applicable Dutch law relating to bankruptcy, insolvency, winding up,
administration, receivership or other similar matters, (iii) the U.K. Insolvency Act 1986, as supplemented or amended, together with all rules, regulations and instruments made thereunder and applicable laws of England and Wales relating to
bankruptcy, insolvency, winding up, administration, receivership and other similar matters and (iv) Title 11, United States Bankruptcy Code of 1978 as amended, or any similar United States federal or state law relating to relief of debtors or
any amendment to, succession to or change in any such law. 
 “Board of Directors” means either the board of directors of the Issuer or any
committee of that board duly appointed by such board of directors and authorized to act hereunder. 
 “Board Resolution” means a copy of a
resolution or resolutions certified by the Secretary or an Assistant Secretary of the Issuer to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification and delivered to the Trustee. 

  
 2 

 “Business Day” when used with respect to any Place of Payment, means each Monday, Tuesday,
Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment are authorized or obligated by law or executive order to close. 

“Capital Stock” means, with respect to any Person, any shares or other equivalents (however designated) of any class of corporate stock or
partnership interests or any other participations, rights, warrants, options or other interests in the nature of an equity interest in such Person, including, without limitation, preferred stock and any debt security convertible or exchangeable into
such equity interest. 
 “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 instrument 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. 

“Corporate Trust Office” means the corporate trust office of the Trustee at which at any particular time its corporate trust business in respect of
this Indenture shall be administered, which office at the date hereof is located at 600 South Fourth Street, Seventh Floor, Minneapolis, MN 55415, Attention: Corporate Trust Services – Willis Towers Watson Account Manager, or such other address
as the Trustee may designate from time to time by written notice to the Holders and the Issuer, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by
written notice to the Holders and the Issuer). 
 “Corporation” includes corporations, associations, companies and business trusts. 

“Covenant Defeasance” has the meaning specified in Section 4.04. 

“Custodian” means any receiver, trustee, assignee, liquidator, sequestrator or similar official under any Bankruptcy Law. 

“Defaulted Interest” has the meaning specified in Section 3.07. 

“Depositary” has the meaning specified in Section 3.01. 

“Depositary Custodian” means the Trustee as custodian with respect to the Global Securities or any successor entity thereto. 

“Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the United States as at the time of payment is legal
tender for the payment of public and private debts. 
 “Event of Default” has the meaning specified in Section 5.01. 

“Exchange Act” has the meaning specified in Section 3.05. 

“GAAP” shall mean generally accepted accounting principles in the United States of America set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as may be approved by a significant
segment of the accounting profession as in effect from time to time. 

  
 3 

 “Global Security” has the meaning specified in Section 2.03. 

“Guarantee” means the guarantee by any Guarantor of the Issuer’s Indenture obligations. 

“Guaranteed Obligations” has the meaning specified in Section 15.01. 

“Guarantor” means each of Willis Towers Watson Sub Holdings Unlimited Company, a company organized and existing under the laws of Ireland, Willis
Netherlands Holdings, B.V., a company organized under the laws of the Netherlands, Willis Investment UK Holdings Limited, a company organized and existing under the laws of England and Wales, TA I Limited, a company organized and existing under the
laws of England and Wales, Willis Towers Watson UK Holdings Limited, a company organized and existing under the laws of England and Wales, Trinity Acquisition plc, a company organized and existing under the laws of England and Wales, Willis Group
Limited, a company organized and existing under the laws of England and Wales, Willis North America Inc., a Delaware corporation and any other subsidiary of Willis Towers Watson Public Limited Company which becomes a guarantor of the Issuer’s
Indenture obligations. 
 “Hedging Obligation” means, with respect to any Person, the obligations of such Person under (i) currency exchange,
interest rate or commodity swap agreements, currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements and (ii) other agreements or arrangements designed to protect such
Person against fluctuations in currency exchange, interest rates or commodity prices. 
 “Holder” means a Person in whose name a Security is
registered in the Security Register. 
 “Indebtedness” means, with respect to any Person, (a) the principal of and premium (if any) in
respect of any obligation of such Person for money borrowed, and any obligation evidenced by notes, debentures, bonds or other similar instruments for the payment of which such Person is responsible or liable; (b) all obligations of such Person
as lessee under leases required to be capitalized on the balance sheet of the lessee under GAAP and leases of property or assets made as part of any sale and leaseback transaction entered into by such Person; (c) all obligations of such Person
issued or assumed as the deferred purchase price of any property, all conditional sale obligations of such Person and all obligations of such Person under any title retention agreement (but excluding trade accounts payable or similar obligations to
a trade creditor arising in the ordinary course of business); (d) all obligations of such Person for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction; (e) all obligations of the
type referred to in clauses (a) through (d) of other Persons and all dividends of other Persons for the payment of which, in either case, such Person is responsible or liable, directly or indirectly, as obligor, guarantor or otherwise,
including by means of any guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of business); (f) all obligations of the type referred to in clauses (a) through (d) of other Persons secured by any
Lien on any property of such Person (whether or not such obligation is assumed by such Person); and (g) to the extent not otherwise included in this definition, Hedging Obligations of such Person. 

  
 4 

 “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 shall include the form and terms of particular series of Securities established as contemplated by Section 3.01.

 “Interest” when used with respect to an Original Issue Discount Security which by its terms bears interest only after Maturity, means interest
payable after Maturity. 
 “Interest Payment Date” when used with respect to any Security, means the Stated Maturity of an installment of interest
on such Security. 
 “Issuer” means Willis Towers Watson Public Limited Company, a company organized and existing under the laws of Ireland, until
a successor Person shall have become such pursuant to the applicable provisions of the Indenture, and thereafter “Issuer” shall mean such successor Person. 

“Issuer Request” or “Issuer Order” means a written request or order signed in the name of the Issuer by any one of its Chairman of the
Board, its Chief Executive Officer, its President or a Vice President, its Chief Financial Officer, its Global Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee. 

“Legal Defeasance” has the meaning specified in Section 4.03. 

“Lien” means, with respect to any property of any Person, any mortgage or deed of trust, pledge, hypothecation, assignment, deposit arrangement,
security interest, lien, charge, encumbrance, preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever on or with respect to such property (including any capital lease obligation, conditional sale
or other title retention agreement having substantially the same economic effect as any of the foregoing or any sale and leaseback transaction). 

“Maturity” when used 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, call for redemption or otherwise. 

“Obligation” means any principal, premium, interest (including interest accruing subsequent to a bankruptcy or other similar proceeding whether or
not such interest is an allowed claim enforceable against the Issuer in a bankruptcy case under Federal Bankruptcy Law), penalties, fees, indemnifications, reimbursements, damages and other liabilities payable pursuant to the terms of the
documentation governing any Indebtedness. 
 “Officer’s Certificate” means a certificate signed by any one of its Chairman of the Board, any
Director, the Chief Executive Officer, the President, a Vice President, the Chief Financial Officer, the Group General Counsel, its Global Treasurer, the Secretary or an Assistant Secretary of the Issuer or any Guarantor, as applicable, and
delivered to the Trustee. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for the Issuer or any Guarantor, as
applicable, or any other counsel who shall be acceptable to the Trustee. 

  
 5 

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

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

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

  

	(ii)	 Securities or portions thereof for whose payment or redemption money or, as provided in Section 4.05
hereof, U.S. Government Obligations, in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Issuer) in trust or, except for purposes of Section 4.01, set aside and segregated in trust by the
Issuer (if the Issuer 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 or provision therefor
satisfactory to the Trustee has been made; and 

  

	(iii)	 Securities which have been paid pursuant to Section 3.06 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 protected
purchaser in whose hands such Securities are valid Obligations of the Issuer; 

 provided, however, that in determining
whether the Holders of the requisite principal amount of the Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or whether a quorum is present at a meeting of Holders of Securities,
(i) the principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon acceleration of the
maturity thereof pursuant to Section 5.02, (ii) the principal amount of a Security denominated in one or more foreign currencies which shall be deemed to be Outstanding shall be the U.S. Dollar equivalent, determined as of such date in the
manner provided as contemplated by Section 3.01, of the principal amount of such Security (or, in the case of a Security described in Clause (i) above, of the amount determined as provided in such Clause), and (iii) Securities owned
by the Issuer or any other obligor upon the Securities or any Affiliate of the Issuer or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon
any such request, demand, authorization, direction, notice, consent or waiver, or upon such determination as to the presence of a quorum, only Securities which a Responsible Officer of the Trustee 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
Issuer or any other obligor upon the Securities or any Affiliate of the Issuer or of such other obligor. 
 “Paying Agent” means any Person
authorized by the Issuer to pay the principal of (and premium, if any) or interest on any Securities on behalf of the Issuer. 

  
 6 

 “Person” means any individual, corporation, partnership, joint venture, joint-stock company,
limited liability company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “Place of Payment”
when used with respect to the Securities of any series, 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 as contemplated by Section 3.01. 

“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 3.06 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same
debt as the mutilated, destroyed, lost or stolen Security. 
 “Principal” of a debt security, including any Security, on any day and for any
purpose means the amount (including, without limitation, in the case of an Original Issue Discount Security, any accrued original issue discount, but excluding interest) that is payable with respect to such debt security as of such date and for such
purpose (including, without limitation, in connection with any sinking fund, upon any redemption at the option of the Issuer, upon any purchase or exchange at the option of the Issuer or the holder of such debt security and upon any acceleration of
the maturity of such debt security). 
 “Principal Amount” of a debt security, including any Security, means the principal amount as set forth on
the face of such debt security. 
 “Redemption Date” when used with respect to any Security to be redeemed, means the date fixed for such
redemption by or pursuant to this Indenture. 
 “Redemption Price” when used with respect to any Security to be redeemed, means the price
(exclusive of accrued interest, if any) at which it is to be redeemed pursuant to this Indenture. 
 “Regular Record Date” for the interest
payable on any Interest Payment Date on the Securities of any series means the date specified for that purpose as contemplated by Section 3.01. 

“Responsible Officer” when used with respect to the Trustee, means any officer assigned to and working in the corporate trust department of the
Trustee with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge of and familiarity
with the particular subject. 
 “Securities” has the meaning stated in the first recital of this Indenture and more particularly means any
Securities authenticated and delivered under this Indenture. 
 “Security Register” and “Security Registrar” have the respective
meanings specified in Section 3.05. 

  
 7 

 “Significant Subsidiary” means any Subsidiary of the Issuer that would be a “significant
subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act of 1933, as amended, as such regulation is in effect on
the date hereof. 
 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to
Section 3.07. 
 “Stated Maturity” when used with respect to any Security or any installment of principal thereof or interest thereon, means
the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” means, with respect to any Person, (i) any corporation, association, or other business entity (other than a partnership, joint
venture, limited liability company or similar entity) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof and (ii) any partnership, joint venture, limited
liability company or similar entity of which (x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general or limited partnership interests, as applicable, are owned or controlled, directly or
indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof whether in the form of membership, general, special or limited partnership or otherwise and (y) such Person or any wholly owned
Subsidiary of such Person is a controlling general partner or otherwise controls such entity. 
 “Trust Indenture Act” means the Trust Indenture
Act of 1939, as amended, and as in force at the date as of which this instrument was executed, except as provided in Section 9.05; provided, however, that in the event the Trust Indenture Act is amended after such date, “Trust Indenture
Act” means, with respect to the Securities of any series issued after such date, the Trust Indenture Act as so amended. 
 “Trustee” means
the Person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include
each Person who is then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean only the Trustee with respect to Securities of that series. 

“U.S. Government Obligations” has the meaning specified in Section 4.05. 

“Vice President” when used with respect to the Issuer 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.” 
 SECTION 1.02. Compliance Certificates and Opinions 

Upon any application or request by the Issuer or any Guarantor to the Trustee to take any action under any provision of this Indenture, the Issuer or such
Guarantor shall furnish to the 

  
 8 

 Trustee an Officer’s Certificate stating that all conditions precedent (including any covenant
compliance with which constitutes a condition 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 such action is authorized
or permitted by this Indenture and all such conditions precedent (including any covenants compliance with which constitutes a condition 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 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 (other than annual certificates provided
pursuant to Section 10.08) shall include: 
  

	(1)	 a statement that each individual signing such certificate or opinion has read such covenant or condition and
the definitions herein 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 covenant or condition 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 Issuer or any Guarantor may be based, insofar as it relates to legal matters, upon a certificate or Opinion of Counsel, 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 or representation by 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 Issuer or such Guarantor stating that the information with respect to such factual matters is in the possession of the Issuer or such Guarantor,
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. 

  
 9 

 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, 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 an agent duly appointed in writing or by the record of the Holders voting in
favor thereof at any meeting of such Holders duly called and held in accordance with the provisions of Article Fourteen; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or
any such record is delivered to the Trustee and, where it is hereby expressly required, to the Issuer or any Guarantor. Such instrument or instruments or such record (and the action embodied therein and evidenced thereby) are herein sometimes
referred to as the “Act” of the Holders signing such instrument or instruments or voting at such meeting. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this
Indenture and conclusive in favor of the Trustee, the Issuer and any Guarantor if made in the manner provided in this Section. The record of any meeting of Holders of Securities shall be proved in the manner provided in Section 14.07 and the
record so proved shall be sufficient for any purpose of this Indenture and conclusive in favor of the Trustee, the Issuer and any Guarantor, if made in the manner provided in this Section. 

 

	(b)	 The fact and date of the execution by any Person of any such instrument or writing may be proved by the
affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution
thereof, or may be proved in such other manner as shall be deemed sufficient by the Trustee. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient
proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 

 

	(c)	 The ownership of Securities shall be proved by the Security Register. 

 

	(d)	 Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any
Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be done by
the Trustee or the Issuer in reliance thereon, whether or not notation of such action is made upon such Security. 

  

	(e)	 The Issuer or the Trustee, as applicable, may set a date for the purpose of determining the Holders of
Securities entitled to consent, vote or take any other action referred to in this 

  
 10 

 
Section 1.04, which date shall be not less than 10 days nor more than 60 days prior to the taking of the consent, vote or other action. 

SECTION 1.05. Notices, etc., to Trustee and Issuer 

Any request, demand, authorization, direction, notice, consent, waiver or Act of the 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 Issuer or any Guarantor shall be sufficient for every purpose hereunder if
made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, attention: Corporate Trust Department, and, unless otherwise herein expressly provided, any such document shall be deemed to be sufficiently made,
given, furnished or filed upon its receipt by a Responsible Officer of the Trustee, or 

  

	(2)	 the Issuer or any Guarantor 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, or overnight air courier guaranteeing next day delivery, to the Issuer addressed to it at: 

c/o Willis Group Limited 
 The
Willis Building 
 51 Lime Street 

London, EC3M 7DQ 
 England and
Wales 
 or at any other address or addresses previously furnished in writing to the Trustee by the Issuer or such Guarantor. 

SECTION 1.06. Notice to Holders; Waiver 
 Where this
Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) 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. 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 of this Indenture or any Global Security, where this
Indenture or any Global Security provides for notice of any event (including any notice of redemption or repurchase) to a Holder of a Global Security (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary
(or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance with applicable Depositary procedures. 

  
 11 

 In 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. 

SECTION 1.07. Conflict with Trust Indenture Act 
 If
any provision hereof limits, qualifies or conflicts with the duties imposed by any of Sections 310 to 317, inclusive, of the Trust Indenture Act through operation of Section 318(c), such imposed duties shall control. 

SECTION 1.08. Effect of Headings and Table of Contents 

The Article and Section headings herein, the Trust Indenture Act reconciliation and tie, and the Table of Contents are for convenience only and shall not
affect the construction hereof. 
 SECTION 1.09. Successors and Assigns 

All covenants and agreements in this Indenture by the Issuer or any Guarantor shall bind their successors and assigns, whether so expressed or not. 

SECTION 1.10. Separability Clause 
 In case any
provision in this Indenture or in the Securities 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 1.11. Benefits of Indenture 
 Nothing in this
Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

SECTION 1.12. Governing Law; Waiver of Trial by Jury 

This Indenture, the Guarantees, and the Securities shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to applicable principles of conflicts of law. Each of the Issuer, the Guarantors and the Trustee irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of
or relating to this Indenture or the transactions contemplated hereby. 

  
 12 

 SECTION 1.13. Legal Holidays 

Unless otherwise provided with respect to the Securities of a series, in any case where any Interest Payment Date, Redemption Date or Stated Maturity of any
Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities) payment of Principal of (and premium, if any) or interest, if any, on such Security 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, provided that no
additional interest shall accrue with respect to the payment due on such date for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be. 

SECTION 1.14. Submission to Jurisdiction 
 For the
benefit of the Holders, the Issuer and each Guarantor hereby (i) irrevocably submits to the non-exclusive jurisdiction of any New York State court or United States federal court sitting in the Borough of
Manhattan in the City of New York solely for purposes of any legal action or proceeding arising out of or relating to the Securities or this Indenture and (ii) irrevocably waives, to the fullest extent permitted by law, any objection that it
may now or hereafter have to the laying of venue of any legal action or proceeding in any New York State court or United States federal court sitting in the Borough of Manhattan in the City of New York, and any claim that any such action or
proceedings brought in any such court has been brought in an inconvenient forum. The Issuer and each Guarantor agrees that a final judgment in any such legal action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit
on the judgment or in any other manner provided by law. 
 To the extent that the Issuer or any Guarantor may in any jurisdiction claim for itself or its
assets immunity (to the extent that any immunity may now or hereafter exist) from suit, execution, attachment (whether in aid of execution, before judgment or otherwise) or other legal process (whether through service or notice or otherwise), and to
the extent that in any such jurisdiction there may be attributed to itself or its assets such immunity (whether or not claimed), the Issuer and each Guarantor irrevocably agree not to claim, and irrevocably waive, such immunity to the full extent
permitted by the laws of such jurisdiction. 
 SECTION 1.15. Appointment of Agent for Service of Process 

By the execution and delivery of this Indenture, the Issuer and each Guarantor (except for Willis North America Inc.) hereby designates and appoints Willis
North America Inc. (or any successor corporation) as its agent to accept and acknowledge on its behalf service of any and all process which may be served in any legal action or proceeding which may be instituted in any Federal or State court in the
Borough of Manhattan, the City of New York, arising out of or relating to the Securities or the Guarantees or this Indenture, but for that purpose only. Service of process upon such agent at the office of Willis North America Inc. at Brookfield
Place, 200 Liberty Street, New York, New York 10281, attention of the General Counsel, and written notice of said service to the Issuer or such Guarantor by the Person servicing the same addressed as provided by Section 1.05, shall be deemed in
every respect effective service of process upon the Issuer or such Guarantor, respectively, in any such legal action or proceeding, and the Issuer and such Guarantor hereby submits to the nonexclusive jurisdiction of any such court in which any such
legal action or proceeding is so instituted. Such appointment shall be irrevocable so long as the Holders of Securities or the Trustee shall have any rights pursuant to the terms thereof or of this Indenture until the appointment of a successor by
the Issuer or such Guarantor with the consent of the Trustee and such successor’s acceptance of such appointment. The Issuer and each such Guarantor further agree to take any and all action, including the execution and filing of any and all
such documents and instruments, as may be necessary to continue such designation and appointment of such agent or successor. 

  
 13 

 SECTION 1.16. Indemnification of Judgment Currency 

To the fullest extent permitted by applicable law, the Issuer and each of the Guarantors shall indemnify each Holder against any loss incurred by such Holder
as a result of any judgment or order being given or made for any amount due under any Security or Guarantee and such judgment or order being expressed and paid in a currency (the “Judgment Currency”), which is other than U.S. dollars and
as a result of any variation as between (i) the rate of exchange at which the U.S. dollar is converted into the Judgment Currency for the purposes of such judgment or order and (ii) the spot rate of exchange in The City of New York at
which the Holder on the date of payment of such judgment is able to purchase U.S. dollars with the amount of the Judgment Currency actually received by such Holder. This indemnification will constitute a separate and independent obligation of the
Issuer or each of the Guarantors, as the case may be, and will continue in full force and effect notwithstanding any such judgment or order as aforesaid. The term “spot rate of exchange” includes any premiums and costs of exchange payable
in connection with the purchase of, or conversion into, U.S. dollars. 
 SECTION 1.17. U.S.A. Patriot Act 

The Issuer and the Guarantors acknowledge that in accordance with Section 326 of the U.S.A. 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 with the Trustee. The parties
to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. PATRIOT Act. 

ARTICLE TWO 
 SECURITY
FORMS 
 SECTION 2.01. Forms Generally 
 The
Securities of each series shall be in substantially the form established from time to time by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions
and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities
exchange or as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of such Securities. Any portion of the text of any Security may be set forth on the reverse thereof, with an
appropriate reference thereto on the face of the Security. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or
an Assistant Secretary of the Issuer and delivered to the Trustee at or prior to the delivery of the Issuer Order contemplated by Section 3.03 for the authentication and delivery of such Securities. Any such Board Resolution or record of such
action shall have attached thereto a true and correct copy of the form of Security referred to therein approved by or pursuant to such Board Resolution. 

  
 14 

 The Trustee’s certificate of authentication shall be in substantially the form set forth in this
Article. 
 The definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as
determined by the officers executing such Securities, as evidenced by their execution of such Securities. 
 SECTION 2.02. Form of
Trustee’s Certificate of Authentication 
 The Trustee’s certificate of authentication on all Securities shall be in
substantially the following form: 
 This is one of the Securities of the series designated therein issued under the within-mentioned Indenture. 

Dated:      
  

			
	 COMPUTERSHARE TRUST COMPANY, N.A.,

AS TRUSTEE,

		
	By:	 	 
		 	Authorized Signatory

 SECTION 2.03. Securities in Global Form 

If any Security of a series is issuable in global form (a “Global Security”), such Global Security may provide that it shall represent the aggregate
amount of Outstanding Securities 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 reduced to reflect exchanges. Any endorsement of a Global
Security to reflect the amount, or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be made by the Trustee and in such manner as shall be specified in such Global Security. Any instructions by the Issuer
with respect to a Global Security, after its initial issuance, shall be in writing but need not comply with Section 1.02. 
 Global Securities may be
issued in either temporary or permanent form. Permanent Global Securities will be issued in definitive 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. 

  
 15 

 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board
Resolution, and set forth in an Officer’s Certificate, of the Issuer or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series, 

 

	(1)	 the title of the Securities of the series (which shall distinguish the Securities of the series from all other
Securities); 

  

	(2)	 the aggregate Principal Amount of the Securities of such series and any limit upon the aggregate Principal
Amount of the Securities of the series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other securities of the
series pursuant to Section 3.04, 3.05, 3.06, 9.06 or 11.07); 

  

	(3)	 the date or dates on which the principal (and premium, if any) of the Securities of the series is payable or
the method of determination thereof; 

  

	(4)	 the rate or rates (which may be fixed or variable), or the method of determination thereof, at which the
Securities of the series shall bear interest, if any, including the rate of interest applicable on overdue payments of Principal or interest, if different from the rate of interest stated in the title of the Security, the date or dates from which
such interest shall accrue or the method of determination thereof, the Interest Payment Dates on which such interest shall be payable and the Regular Record Date for the interest payable on any Interest Payment Date; 

 

	(5)	 the Paying Agent or Paying Agents for the Securities of the series if other than the Trustee;

  

	(6)	 the Place of Payment of the Securities of the series; 

 

	(7)	 if other than U.S. Dollars, the foreign currency or currencies in which Securities of the series shall be
denominated or in which payment of the Principal of (and premium, if any) or interest on Securities of the series may be made, and the particular provisions applicable thereto and the manner of determining the equivalent thereof in the currency of
the United States of America for any purpose, including for purposes of the definition of “Outstanding” in Section 1.01 and, if applicable, the amount of the Securities of the series which entitles the Holder of a Security of the
series or its proxy to one vote for purposes of Section 14.06; 

  

	(8)	 the right, if any, of the Issuer to redeem the Securities of such series and the period or periods within
which, the price or prices at which and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Issuer; 

 

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

  
 16 

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

  

	(11)	 whether the Securities of the series shall be issued in whole or in part in the form of one or more Global
Securities and, in such case, the depositary (the “Depositary”) for such Global Security or Securities; and the manner in which and the circumstances under which Global Securities representing Securities of the series may be exchanged for
Securities in definitive form, if other than, or in addition to, the manner and circumstances specified in Section 3.05(b); 

  

	(12)	 if other than the Principal Amount thereof, the portion of the Principal Amount of Securities of the series
which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.02; 

  

	(13)	 if the provisions of Section 4.03 or 4.04 of this Indenture are to apply to the Securities of the series,
a statement indicating the same; 

  

	(14)	 any deletions from or modifications of or additions to the Events of Default set forth in Section 5.01
pertaining to the Securities of the series; 

  

	(15)	 the form of the Securities of the series; and 

 

	(16)	 any other terms of a particular series and any other provisions expressing or referring to the terms and
conditions upon which the Securities of that series are to be issued, (which terms and conditions are not in conflict with the provisions of this Indenture or do not adversely affect the rights of Holders of any other series of Securities then
Outstanding); provided, however, that the addition to or subtraction from or variation of Articles Four, Five, Eight, Ten, Twelve and Fifteen (and Section 1.01 insofar as it relates to the definition of certain terms as used in
such Articles) with regard to the Securities of a particular series shall not be deemed to constitute a conflict with the provisions of those Articles. 

All Securities of any one series shall be substantially identical except as to denomination and except as may otherwise be provided in or pursuant to such
Board Resolution and set forth in such Officer’s Certificate or in any such indenture supplemental hereto. All Securities of any one series need not be issued at the same time, and unless otherwise provided, a series may be reopened for
issuance of additional Securities of such series without the consent of the Holders thereof. No Board Resolution or Officer’s Certificate may affect the Trustee’s own rights, duties or immunities under this Indenture or otherwise with
respect to any series of Securities except as it may agree in writing. 
 The Securities of all series shall rank on a parity in right of payment. 

Except as modified in a Board Resolution, Officer’s Certificate or supplemental indenture establishing a series of Securities, the Securities shall be
fully and unconditionally guaranteed, jointly and severally, by each Guarantor as provided in Article Fifteen. 
 If any of the terms of the series are
established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Issuer or the applicable Guarantor and delivered to the Trustee at or
prior to the delivery of the Officer’s Certificate setting forth the terms of the series. 

  
 17 

 SECTION 3.02. Denominations 

The Securities of each series shall be issuable in registered form without coupons in such denominations as shall be specified as contemplated by
Section 3.01. In the absence of any such provisions with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and any integral multiple thereof. 

SECTION 3.03. Execution, Authentication, Delivery and Dating 

The Securities shall be executed under the common seal of the Issuer reproduced thereon and the affixing of such seal to the Securities shall be signed and
countersigned by any two directors of the Issuer, or by a director and the Secretary of the Issuer or by any director of the Issuer and any other person appointed by the directors of the Issuer for that purpose or by any two members of a Sealing
Committee of the Issuer, or otherwise in accordance with the constitution of the Issuer. 
 Securities bearing the signatures of individuals who were at any
time the proper directors or officers of the Issuer shall bind such Person 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 issuance of such Securities. 
 At any time and from time to time after the execution and delivery of this Indenture, the Issuer may deliver
Securities of any series executed by the Issuer to the Trustee for authentication, together with an Issuer Order for the authentication and delivery of such Securities, and the Trustee in accordance with the Issuer Order shall authenticate and
deliver such Securities. If any Security shall be represented by a permanent Global Security, then, for purposes of this Section and Section 3.04, the notation of a beneficial owner’s interest therein upon original issuance of such
Security or upon exchange of a portion of a temporary Global Security shall be deemed to be delivery in connection with the original issuance of such beneficial owner’s interest in such permanent Global Security. 

In authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be
entitled to receive and (subject to Section 6.01) shall be fully protected in relying upon the documents specified in Section 314 of the Trust Indenture Act, and, in addition: 

 

	(1)	 a Board Resolution relating thereto, and if applicable, an appropriate record of any action taken pursuant to
such Board Resolution, certified by the Secretary or Assistant Secretary of the Issuer, if applicable; 

  

	(2)	 an executed supplemental indenture, if any; and 

 

	(3)	 an Opinion of Counsel which shall state: 

 

	 	(A)	 that the form and terms of such Securities have been established by or pursuant to Board Resolutions, by a
supplemental indenture or by both such resolution or resolutions and such supplemental indenture in conformity with the provisions of this Indenture; 

  
 18 

	 	(B)	 that the supplemental indenture, if any, when executed and delivered by the Issuer, the Guarantors and the
Trustee, will constitute a valid and legally binding obligation of the Issuer and the Guarantors; 

  

	 	(C)	 that such Securities, when authenticated and delivered by the Trustee and issued by the Issuer in the manner
and subject to any conditions specified in such Opinion of Counsel, will constitute the legal, valid and binding Obligations of the Issuer and each such Guarantor, if applicable, enforceable in accordance with their terms, subject to applicable
bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of commercial reasonableness, good faith and
fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity); and 

  

	 	(D)	 that the Guarantees, when the Securities to which they relate shall have been authenticated and delivered by
the Trustee and issued by the Issuer in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute the legal, valid and binding obligations of the Guarantors, enforceable against them in accordance with their
terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability, to general principles of commercial
reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in equity). 

 If such
form or terms have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities
and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee. 
 Notwithstanding the provisions of Section 3.01 and of
this Section 3.03, if all Securities of a series are not to be originally issued at one time, it shall not be necessary to deliver the Board Resolution and the Officer’s Certificate otherwise required pursuant to Section 3.01 or the
Board Resolution and Opinion of Counsel otherwise required pursuant to this Section 3.03 at or prior to the time of authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original
issuance of the first Security of such series to be issued. 
 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 herein executed by the Trustee by manual signature of an authorized signatory, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such
Security has been duly authenticated and delivered hereunder. 

  
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 The Trustee may appoint an Authenticating Agent acceptable to the Issuer to authenticate Notes. An
Authenticating Agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. 

SECTION 3.04. Temporary Securities 
 Pending the
preparation of definitive Securities of any series, the Issuer may execute, and upon Issuer Order, the Trustee shall authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, reproduced or otherwise produced, in
any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued and with such appropriate insertions, omissions, substitutions and other variations as the directors or officers executing such
Securities may determine, as evidenced by their execution of such Securities. 
 If temporary Securities of any series are issued, the Issuer will cause
definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series
upon surrender of the temporary Securities of such series at the office or agency of the Issuer in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any
series, the Issuer shall execute and the Trustee shall authenticate and deliver in exchange therefor a like Principal Amount of definitive Securities of the same series of authorized denominations. 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 3.05.
Registration, Registration of Transfer and Exchange of Global Securities Representing the Securities 
  

	(a)	 The Issuer shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register
maintained in such office or in any other office or agency of the Issuer in a Place of Payment being herein sometimes referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Issuer
shall provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein provided.

 The Security Registrar shall maintain on behalf of the Issuer a full and complete list of names and addresses of all
Holders of Securities issued by the Issuer pursuant to this Indenture and any indenture supplemental hereto, and the Principal Amount of Securities held by such Holder. 

Upon surrender for registration of transfer of any Security of any series at the office or agency in a Place of Payment for that series, the
Issuer 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 and of a like aggregate Principal Amount
and Stated Maturity. 

  
 20 

 Except as otherwise provided in this Article Three, at the option of the Holder, Securities
of any series may be exchanged for other Securities of the same series, of any authorized denominations and of an equal aggregate Principal Amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities
are so surrendered for exchange, the Issuer shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 

All Securities issued upon any registration of transfer or exchange of Securities shall be the valid Obligations of the Issuer and each
Guarantor evidencing the same debt and entitled 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 shall (if so required by the Issuer or the Trustee) be
duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Security Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing with such signature guaranteed by a
commercial bank reasonably acceptable to the Trustee or by a member of a national securities exchange. 
 No service charge shall be made for
any registration of transfer or exchange of Securities, but the Issuer or the Trustee 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 3.04, 9.06 or 11.07 not involving any transfer. Each Holder that is a transferor of a Security shall provide or cause to be provided to the Trustee all information necessary to
allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information provided to it and shall
have no responsibility to verify or ensure the accuracy of such information. 
 The Issuer shall not be required (i) to issue, register
the transfer of or exchange Securities of any series during a period beginning at the opening of business 15 days before the day of the mailing or sending of a notice of redemption of Securities of that series selected for redemption under
Section 11.03 and ending at the close of business on the day of such mailing or sending, or (ii) to register the transfer of or exchange of any Security so selected for redemption in whole or in part, except the unredeemed portion of any
Security being redeemed in part. 
  

	(b)	 If the Issuer shall establish pursuant to Section 3.01 that the Securities of a series are to be issued in
whole or in part in the form of one or more Global Securities, then the Issuer shall execute and the Trustee shall, in accordance with Section 3.03 and the Issuer Order with respect to such series, authenticate and deliver one or more Global
Securities in temporary or permanent form that (i) shall represent and shall be denominated in an amount equal to the aggregate Principal Amount of the Outstanding Securities of such series to be represented by one or more Global Securities,
(ii) shall be registered in the name of the Depositary for such Global Security or Securities or the nominee of such Depositary, (iii) shall be delivered by the Trustee or delivered or held pursuant to such Depositary’s instruction,
and (iv) unless otherwise provided for with respect to the Securities of such series pursuant to Section 3.01, shall bear a legend substantially to the following effect: 

  
 21 

 
“This Security may not be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the
Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary, unless and until this Security is exchanged in whole or in part for Securities in definitive form.” 

Each Depositary designated pursuant to Section 3.01 must, at the time of its designation and at all times while it serves as Depositary,
be a clearing agency registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other applicable statute or regulation. The Issuer initially appoints the Trustee to act as the Depositary Custodian with
respect to the Global Securities. The Trustee and each Agent are hereby authorized to act in accordance with applicable Depositary procedures with respect to the Global Securities. 

If at any time the Depositary for the Securities of a series notifies the Issuer that it is unwilling or unable to continue as Depositary for
the Securities of such series or if at any time the Depositary for Securities of a series shall no longer be a clearing agency registered and in good standing under the Exchange Act or other applicable statute or regulation (as required by this
Section 3.05), the Issuer shall appoint a successor Depositary eligible under this Section 3.05 with respect to the Securities of such series. If a successor Depositary for the Securities of such series is not appointed by the Issuer
within 90 days after the Issuer receives such notice or becomes aware of such condition, the Issuer shall execute, and the Trustee, upon receipt of an Issuer Order for the authentication and delivery of definitive Securities of such series, will
authenticate and deliver, Securities of such series in definitive form in an aggregate Principal Amount equal to the Principal Amount of the Global Security or Securities representing such series in exchange for such Global Security or Securities.

 The Issuer may at any time and in its sole discretion and subject to the procedures of the Depositary determine that the Securities of any
series issued in the form of one or more Global Securities shall no longer be represented by such Global Security or Securities. In such event, the Issuer shall execute, and the Trustee, upon receipt of an Issuer Order for the authentication and
delivery of definitive Securities of such series, will authenticate and deliver, Securities of such series in definitive form and in an aggregate Principal Amount equal to the Principal Amount of the Global Security or Securities representing such
series in exchange for such Global Security or Securities. 
 If the Securities of any series shall have been issued in the form of one or
more Global Securities and if an Event of Default with respect to the Securities of such series shall have occurred and be continuing, the Issuer may, and upon the request of the Trustee shall, promptly execute, and the Trustee, upon receipt of an
Issuer Order for the authentication and delivery of definitive Securities of such series, will authenticate and deliver, Securities of such series in definitive form and in an aggregate Principal Amount equal to the Principal Amount of the Global
Security or Securities representing such series in exchange for such Global Security or Securities. 

  
 22 

 The Depositary for such series of Securities may surrender a Global Security for such series
of Securities in exchange in whole or in part for Securities of such series in definitive form on such terms as are acceptable to the Issuer and such Depositary. Thereupon, the Issuer shall execute and the Trustee shall authenticate and deliver,
without charge: 
  

	 	(i)	 to each Person specified by the Depositary a new Security or Securities of the same series, of any authorized
denomination as requested by such Person in an aggregate Principal Amount equal to and in exchange for such Person’s beneficial interest in the Global Security; and 

 

	 	(ii)	 to the Depositary a new Global Security in a denomination equal to the difference, if any, between the
Principal Amount of the surrendered Global Security and the aggregate Principal Amount of Securities delivered to holders thereof. 

 Upon
the exchange of a Global Security for Securities in definitive form, such Global Security shall be cancelled by the Trustee. Securities issued in exchange for a Global Security pursuant to this subsection (b) shall be registered in such names
and in such authorized denominations as the Depositary for such Global Security, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Persons in
whose names such Securities are so registered. 
 None of the Issuer, the Trustee nor any agent of the Issuer or the Trustee will have any responsibility or
liability for the Depositary, including any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or maintaining, supervising or reviewing any records relating to such beneficial
ownership interests. In connection with any proposed transfer of definitive Securities in exchange for Global Securities, the Issuer or the Depositary shall be required to provide or cause to be provided to the Trustee all information necessary to
allow the Trustee to comply with any applicable tax reporting obligations, including without limitation any cost basis reporting obligations under Internal Revenue Code Section 6045. The Trustee may rely on information provided to it and shall
have no responsibility to verify or ensure the accuracy of such information. 
 SECTION 3.06. Mutilated, Destroyed, Lost and Stolen Securities

 If any mutilated Security is surrendered to the Trustee, the Issuer shall execute and the Trustee shall authenticate and deliver in exchange therefor a
new Security of the same series and of like tenor and Principal Amount and bearing a number not contemporaneously outstanding. 
 If there shall be
delivered to the Issuer and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity required by them to save each of them and any agent of either of them
harmless, then, in the absence of notice to the Issuer or the Trustee that such Security has been acquired by a protected purchaser, the Issuer shall execute and upon its request the Trustee shall authenticate and deliver, in lieu of any such
destroyed, lost or stolen Security, a new Security of the same series and of like tenor and Principal Amount and bearing a number not contemporaneously outstanding. 

If any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Issuer in its discretion may, instead of
issuing a new Security, pay such Security. 

  
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 Upon the issuance of any new Security under this Section, the Issuer 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. 

Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional
contractual obligation of the Issuer, 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 duly issued hereunder. 
 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 3.07. 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 at the close of business on the Regular Record Date for such interest. 

At the option of the Issuer, interest on the Securities of any series that bear interest may be paid by mailing a check to the address of the Person entitled
thereto as such address shall appear in the Security Register. 
 Any interest on any Security of any series which is payable, but is not punctually paid or
duly provided for, on any Interest Payment Date (“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 Issuer, at its election in each case, as provided in clause (1) or (2) below: 
  

	(1)	 The Issuer may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of
such series (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 Issuer shall notify the Trustee
in writing of the amount of Defaulted Interest proposed to be paid on each Security of such series and the date of the proposed payment, and at the same time the Issuer 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 prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons
entitled to such Defaulted Interest as in this clause provided. Thereupon the Issuer 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 Issuer shall promptly notify the Trustee of such Special Record Date and, in the name and at the

  
 24 

	 	
expense of the Issuer, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, or sent to
each Holder of Securities of such series 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 so mailed or sent, such Defaulted Interest shall be paid to the Persons in whose names the Securities of such series (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 Issuer may make payment of any Defaulted Interest on the Securities of any series 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 Issuer to the Trustee of the proposed payment
pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

 Subject to the foregoing provisions of this
Section, 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 3.08. Persons Deemed Owners 

Prior to due presentment of a Security for registration of transfer, the Issuer, any Guarantor, the Trustee and any agent of the Issuer, any Guarantor 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 Section 3.07) interest on such Security and for all
other purposes whatsoever, whether or not such Security be overdue, and none of the Issuer, any Guarantor, the Trustee or any agent of the Issuer, any Guarantor or the Trustee shall be affected by notice to the contrary. 

SECTION 3.09. Cancellation 
 All Securities
surrendered for payment, redemption, conversion, registration of transfer or exchange or for credit against any sinking fund payment or analogous obligation shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and
promptly shall be cancelled by it and, if surrendered to the Trustee, shall be promptly cancelled by it. The Issuer or any Guarantor may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Issuer or any Guarantor may have acquired in any manner whatsoever, and all Securities so delivered promptly shall be cancelled by the Trustee. 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. All cancelled Securities held by the Trustee shall be disposed of in accordance with the Trustee’s customary procedures. The acquisition of any Securities
by the Issuer or any Guarantor shall not operate as a redemption or satisfaction of the Indebtedness represented thereby unless and until such Securities are surrendered to the Trustee for cancellation. Permanent Global Securities shall not be
destroyed until exchanged in full for definitive Securities or until payment thereon is made in full. 

  
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 SECTION 3.10. 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 a year of twelve 30-day months. 
 SECTION 3.11. CUSIP Numbers 

The Issuer in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers
in notices 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 and that reliance may be
placed only on the other identification numbers printed on the Securities, and any such notice shall not be affected by any defect in or omission of such numbers. The Issuer will promptly notify the Trustee in writing of any change in the
“CUSIP” numbers. 
 ARTICLE FOUR 

SATISFACTION AND DISCHARGE; DEFEASANCE 

SECTION 4.01. Satisfaction and Discharge of Securities of any Series 

The Issuer shall be deemed to have satisfied and discharged the entire Indebtedness on all the Securities of any particular series (except as to any surviving
rights of registration of transfer or exchange of Securities herein expressly provided for), and the Trustee, upon Issuer Request and at the expense of the Issuer, shall execute such instruments as may be requested by the Issuer acknowledging
satisfaction and discharge of such Indebtedness, when 
  

	(a)	 either 

  

	 	(1)	 all Securities theretofore authenticated and delivered (other than (i) Securities which have been
destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.06 and (ii) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter
repaid to the Issuer or discharged from such trust, as provided in Section 10.03) have been delivered to the Trustee for cancellation; or 

  

	 	(2)	 all such Securities not theretofore delivered to the Trustee for cancellation 

 

	 	(A)	 have become due and payable, or 

 

	 	(B)	 will become due and payable at their Stated Maturity within one year, or 

 

	 	(C)	 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 Issuer, and the Issuer or any Guarantor, in the case of (A), (B) or (C) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for
the purpose an amount sufficient to pay and discharge the entire Indebtedness on such Securities not theretofore delivered to the Trustee for cancellation (other 

  
 26 

	 	
than Securities which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.06), for Principal (and premium, if any) and interest 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; 

  

	(b)	 the Issuer or any Guarantor has paid or caused to be paid all other sums payable hereunder by the Issuer or any
Guarantor; and 

  

	(c)	 the Issuer 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 the entire Indebtedness on all Securities of such series have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the Obligations of the Issuer and each Guarantor to the Trustee under Section 6.07 or
to any Authenticating Agent under Section 3.03 and, if money shall have been deposited with the Trustee pursuant to subclause (B) of clause (2) of this Section, the Obligations of the Trustee under Section 4.07 and the last
paragraph of Section 10.03 shall survive. 
 SECTION 4.02. Option to Effect Legal Defeasance or Covenant Defeasance 

The Issuer may, at the option of its Board of Directors evidenced by a supplemental indenture or, at any time, by a Board Resolution set forth in an
Officer’s Certificate with respect to the Securities of any series, unless otherwise specified pursuant to Section 3.01 with respect to a particular series of Securities, elect to have either Section 4.03 or 4.04 be applied to all of
the Outstanding Securities of that series upon compliance with the conditions set forth below in this Article Four. 
 SECTION 4.03. Legal
Defeasance and Discharge 
 Upon the Issuer’s exercise under Section 4.02 of the option applicable to this Section 4.03, the Issuer shall
be deemed to have been discharged from its Obligations with respect to all Outstanding Securities of the particular series and any coupons appertaining thereto on the date the conditions set forth below are satisfied (hereinafter, “Legal
Defeasance”). For this purpose, such Legal Defeasance means that the Issuer shall be deemed to have paid and discharged all the Obligations relating to the Outstanding Securities of that series, including any coupons appertaining thereto, and
the Securities of that series, including any coupons appertaining thereto, shall thereafter be deemed to be “outstanding” only for the purposes of Section 4.06 and the other Sections of this Indenture referred to below in this
Section 4.03, and to have satisfied all of its other Obligations under such Securities and any coupons appertaining thereto and this Indenture and cured all then existing Events of Default (and the Trustee, on demand of and at the expense of
the Issuer, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated or discharged hereunder: (i) the Issuer’s or any Guarantor’s Obligations, as the case may
be, with respect to Securities of such series under Sections 3.05, 3.06, 10.02 and 10.03, (ii) rights of Holders to receive payments of the Principal of (and premium, if any) and interest, if any, on the Securities of such series as they shall
become due from time to time and other rights, duties and Obligations of Holders as beneficiaries hereof with respect to the amounts 

  
 27 

 
so deposited with the Trustee, (iii) the rights, obligations and immunities of the Trustee hereunder (for which purposes the Securities of such series shall be deemed Outstanding), (iv) this
Article Four and the obligations set forth in Section 4.06 hereof and (v) the obligations of the Issuer and each Guarantor under Section 6.07 hereof. 

Subject to compliance with this Article Four, the Issuer may exercise its option under Section 4.03 notwithstanding the prior exercise of its option
under Section 4.04 with respect to the Securities of a particular series and any coupons appertaining thereto. 
 SECTION 4.04. Covenant
Defeasance 
 Upon the Issuer’s exercise under Section 4.02 of the option applicable to this Section 4.04, the Issuer shall be released
from any obligations under the covenants contained in Sections 10.04, 10.05 and 10.06 or established pursuant to Section 3.01 or 9.01 hereof with respect to the Outstanding Securities of the particular series on and after the date the
conditions set forth below are satisfied (hereinafter, “Covenant Defeasance”), and the Securities of that series and any coupons appertaining thereto shall thereafter be deemed not “Outstanding” for the purposes of any direction,
waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in connection with such covenants, but shall continue to be deemed “Outstanding” for all other purposes hereunder (it being understood that such
Securities shall not be deemed outstanding for accounting purposes). For this purpose, such Covenant Defeasance means that, with respect to the Outstanding Securities of that series and any coupons appertaining thereto, the Issuer may omit to comply
with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any
such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a default or Event of Default under Section 5.01(4) or any Event of Default specified pursuant to Section 3.01 or 9.01
but, except as specified above, the remainder of this Indenture and the Securities of that series shall be unaffected thereby. 
 SECTION 4.05.
Conditions to Legal or Covenant Defeasance 
 The following shall be the conditions to the application of either Section 4.03 or
Section 4.04 to the Outstanding Securities of a particular series: 
  

	(a)	 the Issuer must irrevocably deposit, or cause to be irrevocably deposited, with the Trustee for the Securities
of that series, in trust, for the benefit of the Holders of the Securities of that series, cash in the currency or currency unit in which the Securities of that series are payable (except as otherwise specified pursuant to Section 3.01 for the
Securities of that series) sufficient or U.S. Government Obligations the Principal of and interest on which will be sufficient or a combination thereof sufficient, in the written opinion of a nationally recognized firm of independent public
accountants delivered to the Trustee, to pay the Principal of, premium, if any, and interest, if any, due on the Outstanding Securities of that series and any related coupons to and including the date of Stated Maturity, or the applicable Redemption
Date, as the case may be, with respect to the Outstanding Securities of that series and any related coupons; 

  
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	(b)	 in the case of Legal Defeasance only, the Issuer shall have delivered to the Trustee for the Securities of that
series (1) an Opinion of Counsel confirming that, subject to customary assumptions and exclusions, since the date on which Securities of such series were originally issued, there has been a change in the applicable U.S. Federal income tax law,
to the effect that, and based thereon such Opinion of Counsel shall confirm that, subject to customary assumptions and exclusions, the Holders of the Outstanding Securities of that series will not recognize income, gain or loss for U.S. Federal
income tax purposes as a result of such Legal Defeasance and will be subject to U.S. Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred or (2) a
copy of a ruling or other formal statement or action to that effect received from or published by the U.S. Internal Revenue Service; 

  

	(c)	 in the case of Covenant Defeasance only, the Issuer shall have delivered to the Trustee for the Securities of
that series an Opinion of Counsel confirming that, subject to customary assumptions and exclusions, the Holders of the Outstanding Securities of that series will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of
such Covenant Defeasance and will be subject to such tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 

 

	(d)	 no Event of Default or event which with the giving of notice or the lapse of time, or both, would become an
Event of Default with respect to the Securities of that series (other than any event resulting from the borrowing of funds to be applied to make such deposit) shall have occurred and be continuing on the date of such deposit; 

 

	(e)	 such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a
default under any material agreement (other than this Indenture) or instrument to which the Issuer is a party or by which the Issuer is bound; and 

  

	(f)	 the Issuer shall have delivered to the Trustee for the Securities of that series an Officer’s Certificate
and an Opinion of Counsel (which opinion of counsel may be subject to customary assumptions and exclusions) each stating that all conditions precedent provided for or relating to the Legal Defeasance or the Covenant Defeasance, as the case may be,
have been complied with. 

 As used in this Article Four, “U.S. Government Obligations” means securities that are
(i) direct Obligations of the United States of America for payment of which its full faith and credit is pledged or (ii) Obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of
America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation of the United States of America, which, in either case under clause (i) or (ii), are not callable or redeemable at the option of the issuer
thereof, and will also include a depository receipt issued by a bank or trust company as Custodian with respect to any such U.S. Government Obligation or a specified payment of interest on or principal of any such U.S. Government Obligation held by
such Custodian for the account of the holder of a depository receipt, provided that (except as required by law) such Custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount
received by the Custodian in respect of the U.S. Government Obligation or the specific payment of interest on or Principal of the U.S. Government Obligation evidenced by such depository receipt. 

  
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 SECTION 4.06. Survival of Certain Obligations 

Notwithstanding the satisfaction and discharge of the Securities of a particular series referred to in Sections 4.01, 4.02, 4.03, or 4.05, the respective
obligations of the Issuer, the Guarantors and the Trustee for the Securities of a particular series under Sections 3.03, 3.04, 3.05, 3.06, 3.09, 4.07, 4.08, 4.09 and 5.08, Article Six, and Sections 7.01, 7.02, 10.02, 10.03 and 10.04, shall survive
with respect to Securities of that series until the Securities of that series are cancelled, and thereafter the obligations of the Issuer, Guarantors and the Trustee for the Securities of a particular series with respect to that series under
Sections 4.08 and 6.07 shall survive. Nothing contained in this Article Four shall abrogate any of the obligations or duties of the Trustee of any series of Securities under this Indenture. 

SECTION 4.07. Application of Trust Money 
 Subject to
the provisions of the last paragraph of Section 10.03, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee pursuant to Sections 4.01 and 4.05 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 Issuer or any Guarantor acting as its own Paying Agent) as the Trustee may determine, to the Persons
entitled thereto, of the Principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee. 

SECTION 4.08. Repayment of Moneys Held by Paying Agent 

Any money deposited with the Trustee or any other Paying Agent remaining unclaimed by the Holders of any Securities for two years after the date upon which the
Principal of or interest on such Securities shall have become due and payable, subject to applicable abandoned property law, shall be repaid to the Issuer by the Trustee or any such other Paying Agent and such Holders shall thereafter be entitled to
look to the Issuer only as general creditors for payment thereof (unless otherwise provided by law); provided, however, that, before the Trustee or any such other Paying Agent is required to make any such payment to the Issuer, the
Trustee may, upon the written request of the Issuer and at the expense of the Issuer, cause to be published once in an Authorized Newspaper a notice that such money remains unclaimed and that, after the date set forth in said notice, the balance of
such money then unclaimed will be returned to the Issuer. 
 SECTION 4.09. Reinstatement 

If the Trustee is unable to apply any money or U.S. Government Obligations in accordance with Section 4.07 by reason of any legal proceeding or by reason
of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer’s and each Guarantor’s obligations under this Indenture and the Securities shall be revived and
reinstated as though no deposit had occurred pursuant to Section 4.01 or 4.05, as the case may be, until such time as the Trustee is permitted to apply all such money or U.S. Government Obligations in accordance with Section 4.07;
provided that, if the Issuer or any Guarantor has made payment of Principal of, or interest on any Securities because of the reinstatement of its obligations, the Issuer or such Guarantor shall be subrogated to the rights of the Holders of
such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee. 

  
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 ARTICLE FIVE 

REMEDIES OF THE TRUSTEE AND HOLDERS ON EVENT OF DEFAULT 

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 involuntary or be effected by operation of law or
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 interest upon any Security of that series when it becomes due and payable, and
continuance of such default for a period of 30 days; or 

  

	(2)	 default in the payment of the Principal of (or premium, if any, on) any Security of that series at its
Maturity; or 

  

	(3)	 default in the deposit of any sinking fund payment, when and as due by the terms of any Security of that
series; or 

  

	(4)	 default in the performance, or breach, of any covenant or warranty of the Issuer, any Guarantor or any
Significant Subsidiary in this Indenture or any Security of that series (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in
this Indenture solely for the benefit of series of Securities other than that series), and continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail or overnight air courier
guaranteeing next day delivery, to the Issuer or such Guarantor by the Trustee or to the Issuer or such Guarantor and the Trustee by the Holders of at least 25% in Principal Amount of the Outstanding Securities of that series a written notice
specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 

  

	(5)	 the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of
the Issuer or any Significant Subsidiary in an involuntary case or proceeding under any applicable Bankruptcy Law or (B) a decree or order adjudging the Issuer or any Significant Subsidiary bankrupt or insolvent, or approving as properly filed
a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Issuer or any Significant Subsidiary under any applicable Bankruptcy Law, or appointing a Custodian of the Issuer or any Significant Subsidiary or of
any substantial part of their property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 90 consecutive
days; or 

  
 31 

	(6)	 the commencement by the Issuer or any Significant Subsidiary of a voluntary case or proceeding under any
applicable Bankruptcy Law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Issuer or any Significant Subsidiary in an involuntary case
or proceeding under any applicable Bankruptcy Law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable
Bankruptcy Law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a Custodian of the Issuer or any Significant Subsidiary of any substantial part of its property, or the making by it of an
assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Issuer or any Significant Subsidiary in furtherance of any such
action, or the taking of any comparable action under any foreign laws relating to insolvency; or 

  

	(7)	 any Guarantee shall for any reason cease to be, or shall for any reason be asserted in writing by any Guarantor
that is a Significant Subsidiary not to be, in full force and effect and enforceable in accordance with its terms, except to the extent contemplated by the Indenture and any such Guarantee; or 

 

	(8)	 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 with respect to Securities of any series at the time Outstanding (other than of a type specified in Section 5.01(5) or (6)) occurs
and is continuing, then in every such case the Trustee or the Holders of not less than 25% in Principal Amount of the Outstanding Securities of that series may declare the Principal Amount (or, if the Securities of that series are Original Issue
Discount Securities, such portion of the Principal Amount as may be specified in the terms of that series) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Issuer (and to the Trustee if given
by Holders), and upon any such declaration such Principal Amount (or specified amount) shall become immediately due and payable, anything in this Indenture or in any of the Securities of such series to the contrary notwithstanding. 

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 a majority in Principal Amount of the Outstanding Securities of that series, by written notice to the Issuer or a Guarantor and the Trustee, may
rescind and annul such declaration and its consequences if 
  

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

 

	 	(A)	 all overdue interest on all Securities of that series, 

 

	 	(B)	 the Principal of (and premium, if any, on) any Securities of that series which have become due otherwise than
by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in such Securities, 

  

	 	(C)	 to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates
prescribed therefor in such Securities, and 

  
 32 

	 	(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 and any other amounts due to the Trustee under Section 6.07 hereof; 

and 
  

	(2)	 all Events of Default with respect to Securities of that series, other than the nonpayment 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. 

Notwithstanding the foregoing, in the case of an Event of Default arising under Section 5.01(5) or (6), all outstanding Securities shall IPSO FACTO
become due and payable without further action or notice. 
 SECTION 5.03. Collection of Indebtedness and Suits for Enforcement by Trustee 

The Issuer covenants that if 
  

	(1)	 default is made in the payment of interest on any Security when such interest becomes due and payable and such
default continues for a period of 30 days, 

  

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

  

	(3)	 default is made in the making or satisfaction of any sinking fund payment or analogous Obligation when the same
becomes due pursuant to the terms of any Security, 

 the Issuer, upon demand of the Trustee, 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, including any sinking fund payment or analogous Obligations (and premium, if any) and interest, if any, and, to the extent that
payment of such interest shall be legally enforceable, interest on any overdue Principal (and premium, if any) and on any overdue interest, at the rate or rates prescribed therefor 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 and any other amounts due to the Trustee under Section 6.07
hereof. 
 If the Issuer fails to pay such amounts forthwith upon such demand, 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, may prosecute such proceeding to judgment or final decree and may enforce the same against the Issuer, any Guarantor 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 Issuer, any Guarantor or any other obligor upon such Securities, wherever situated. 

  
 33 

 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 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 Issuer, any Guarantor or any other obligor upon the Securities or the
property of the Issuer, any Guarantor 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 Issuer for the payment of overdue Principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise, 

 

	(i)	 to file and prove a claim for the whole amount of Principal (and premium, if any) and interest, if any, owing
and unpaid in respect of the Securities and to file such other papers or documents and take such other actions, including participating as a member, voting or otherwise, of any official committee of creditors appointed in such matter, as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial
proceeding, and 

  

	(ii)	 to collect and receive any moneys or other property payable or deliverable on any such claim and to distribute
the same; and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to
the Trustee any amount due 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. To the extent that the payment of any such
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07 hereof out of the estate in any such proceeding, shall be unpaid for any reason, payment of the
same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of
reorganization or arrangement or otherwise. 

 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent
to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the 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 except as aforesaid, to vote for the election of a trustee in bankruptcy or similar person or to participate as a member, voting or otherwise, on any committee of creditors. 

  
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 SECTION 5.05. Trustee May Enforce Claims without Possession of Securities 

All rights of action and claims under this Indenture or 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 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 of judgment shall, after provision for the
payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been recovered. 

SECTION 5.06. Application of Money Collected 
 Any
money or property collected by the Trustee pursuant to this Article, and after an Event of Default, any money or other property distributable in respect of the Issuer’s or any 

Guarantor’s obligations under this Indenture 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 on account of Principal (or premium, if any) or interest, 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 or any predecessor Trustee under Section 6.07; 

SECOND: To the payment of the amounts then due and unpaid for Principal of (and premium, if any) and interest on the Securities 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 amounts due and payable on such Securities for Principal (and premium, if any) and interest, respectively; and 

THIRD: To the payment of the remainder, if any, to the Issuer, its successors or assigns, or to whomever may be so lawfully entitled to receive the same, or
as a court of competent jurisdiction may 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 that series; 

  

	(2)	 the Holders of not less than a majority 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 to the Trustee security or indemnity satisfactory to it against the costs,
expenses and liabilities to be incurred in compliance with such request; 

  
 35 

	(4)	 the Trustee for 60 days after its receipt of such notice, request and offer of security or 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 that 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 to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except
in the manner herein provided and for the equal and ratable benefit of all of such Holders. 
 SECTION 5.08. Unconditional Right of Holders to
Receive Principal, Premium and Interest 
 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 Section 3.07) interest on such Security on the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption,
on the Redemption Date) and the right to institute suit for the enforcement of any such payment and such rights shall not be impaired without the consent of such Holder. 

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, subject to any determination in such proceeding, the Issuer, any Guarantor, the Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and
remedies of the Trustee and the Holders 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 3.06, 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 shall, to the extent permitted by law, 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 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. 

  
 36 

 SECTION 5.12. Control by Holders 

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 shall not determine that the action so directed would be unjustly prejudicial to the Holders of the
Securities of such series not taking part in such direction, or to the Holders of the Securities of any other series (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not any such directions are unduly
prejudicial to such Holders) or would involve the Trustee in personal liability, and 

  

	(3)	 the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such
direction. 

 SECTION 5.13. Waiver of Past Defaults 

Subject to Section 5.02, 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 (or premium, if any) or interest on 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. Undertaking for Costs 
 All parties to
this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit
against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs,
including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions

  
 37 

 
of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in Principal Amount of the
Outstanding Securities of any series, or to any suit instituted by any Holder for the enforcement of the payment of the Principal of (or premium, if any) or interest on any Security on or after the Stated Maturity or Maturities expressed in such
Security (or, in the case of redemption, on or after the Redemption Date). 
 ARTICLE SIX 

THE TRUSTEE 
 SECTION 6.01. Certain
Duties and Responsibilities 
  

	(a)	 Except during the continuance of an Event of Default, 

 

	 	(1)	 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 

  

	 	(2)	 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 verify the accuracy of any mathematical
calculations or the contents thereof or whether procedures specified by or pursuant to the provisions of this Indenture have been followed in the preparation thereof. 

 

	(b)	 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 man would exercise or use under the circumstances in the conduct of his own affairs. 

 

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

  

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

  

	 	(2)	 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; and 

  

	 	(3)	 the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in
accordance with the direction of the Holders of a majority in Principal Amount of the Outstanding Securities of any series, as provided in 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. 

  
 38 

	(d)	 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 it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or
liability is not reasonably assured to it and the Trustee shall not be required to give any bond or surety in respect of the performance of its powers or duties hereunder; 

 

	(e)	 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 by mail to all Holders of Securities of such series, as their names and addresses appear in the Security Register, notice of such
default hereunder known to a Responsible Officer of the Trustee, unless such default 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 any Security of such series or in the payment of any sinking fund or analogous Obligation installment with respect to Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the Trustee in
good faith determines that the withholding of such notice is in the interest of the Holders of Securities of such series; and provided, further, that in the case of any default of the character specified in Section 5.01(4) with
respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of
time or both would become, an Event of Default with respect to Securities of such series. 
 SECTION 6.03. Certain Rights of Trustee 

Subject to the provisions of Section 6.01: 
  

	(a)	 the Trustee may 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, other evidence of Indebtedness or other paper or document (whether in its original or facsimile form) believed by it to be
genuine and to have been signed or presented by the proper party or parties; 

  

	(b)	 any request or direction of the Issuer or any Guarantor mentioned herein shall be sufficiently evidenced by an
Issuer Request or Issuer Order or Officer’s Certificate or similar document and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 

  
 39 

	(c)	 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, it may require and rely upon an Officer’s Certificate
or an Opinion of Counsel, or both, and the Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture;

  

	(d)	 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; 

 

	(e)	 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 pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which might be incurred by it in
compliance with such request or direction; 

  

	(f)	 the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of Indebtedness or other paper or document, or inquire as to the performance by the Issuer or any Guarantor of any
of its covenants in this Indenture, 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 Issuer or any Guarantor, personally or by agent or attorney and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation;

  

	(g)	 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; 

 

	(h)	 the Trustee shall not be deemed to have notice or knowledge of any matter unless a Responsible Officer assigned
to and working in the Trustee’s corporate trust department has actual knowledge thereof or unless written notice thereof from the Issuer or the Holders of at least 25% of the aggregate principal amount of Securities of any series then
outstanding is received by the Trustee at the Corporate Trust Office and such notice references the Securities generally, the Issuer, a Guarantor or this Indenture. Whenever reference is made in this Indenture to an Event of Default, such reference
shall, insofar as determining any liability on the part of the Trustee is concerned, be construed to refer only to an Event of Default of which the Trustee is deemed to have actual knowledge in accordance with this paragraph; and

  

	(i)	 the permissive right of the Trustee to take or refrain from taking any actions enumerated in this Indenture
shall not be construed as a duty; 

  
 40 

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

 

	(k)	 in no event shall the Trustee be responsible or liable for any failure or delay in the performance of its
obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable 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 or hardware) services, or other unavailability of the Federal Reserve Bank wire or facsimile or other wire or
communication facility; 

  

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

  

	(m)	 the Trustee may request that the Issuer deliver an Officer’s Certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person authorized to sign an Officer’s Certificate, including any person
specified as so authorized in any such certificate previously delivered and not superseded. 

 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 Issuer or the Guarantors, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to and shall not be responsible for the
validity or sufficiency of this Indenture or of the Securities or Guarantees. The Trustee shall not be responsible for any document in connection with the sale of any Securities. Neither the Trustee nor any Authenticating Agent shall be accountable
for the use or application by the Issuer or the Guarantors of Securities or the proceeds thereof, any money paid to the Issuer or upon the Issuer’s direction under any provision of this Indenture, or for the use or application of any money
received by any Paying Agent other than the Trustee. The Trustee shall not be bound to ascertain or inquire as to the performance, observance, or breach of any covenants, conditions, representations, warranties or agreements on the part of the
Issuer or the Guarantors. Under no circumstances shall the Trustee be liable in its individual capacity for the obligations evidenced by the Securities or the Guarantees. The Trustee shall have no obligation to pursue any action that is not in
accordance with applicable law. 
 SECTION 6.05. May Hold Securities 

The Trustee, any Authenticating Agent, any Paying Agent, any Security Registrar or any other agent of the Issuer, in its individual or any other capacity, may
become the owner or pledgee of Securities and, subject to Sections 6.08 and 6.13, may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee, Authenticating Agent, Paying Agent, Security Registrar
or such other agent. 

  
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 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. The Trustee shall be under no
liability for interest on any money received by it hereunder. 
 SECTION 6.07. Compensation and Reimbursement 

The Issuer and the Guarantors, jointly and severally, agree, 
  

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

 

	(2)	 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 expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to
its negligence or willful misconduct as finally adjudicated by a court of competent jurisdiction; and 

  

	(3)	 to indemnify the Trustee for, and to hold it harmless against, any loss, liability, damage, claim, fee, cost or
expense incurred without negligence or willful misconduct on its part as finally adjudicated by a court of competent jurisdiction, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including

 the costs and expenses, including reasonable attorneys’ fees and expenses and court costs, of defending itself
against any claim or liability in connection with the exercise or performance of any of its rights, powers or duties hereunder, or any action, claim or suit brought to enforce this Indenture against the Issuer and the Guarantors, including
reasonable attorneys’ fees and expenses and court costs incurred in connection with any action, claim or suit brought to enforce the Trustee’s right to compensation, reimbursement or indemnification (including this Section 6.07). 

As security for the performance of the obligations of the Issuer and the Guarantors under this Section, the Trustee shall have a Lien prior to the Securities
upon all property and funds held or collected by the Trustee, except funds held in trust for the benefit of the Holders of particular Securities. 
 Without
prejudice to any other rights available to the Trustee under applicable law, if the Trustee incurs expenses or renders services after the occurrence of an Event of Default specified in clause (5) or (6) of Section 5.01, the expenses and
the compensation for the services will be intended to constitute expenses of administration under Bankruptcy Law. 

  
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 The provisions of this Section 6.07 shall survive the resignation or removal of the Trustee and the
satisfaction, discharge or termination of this Indenture. 
 “Trustee” for the purposes of this Section 6.07 shall include any predecessor
Trustee and the Trustee in each of its capacities hereunder and each agent, custodian and other person employed to act hereunder; provided, however, that the negligence or willful misconduct of any Trustee hereunder shall not affect the rights of
any other Trustee hereunder. 
 SECTION 6.08. Disqualification; Conflicting Interests 

The Trustee for the Securities of any series issued hereunder shall be subject to the provisions of Section 310(b) of the Trust Indenture Act during the
period of time provided for therein. In determining whether the Trustee has a conflicting interest as defined in Section 310(b) of the Trust Indenture Act with respect to the Securities of any series, there shall be excluded this Indenture with
respect to Securities of any particular series of Securities other than that series of Securities, and any other indenture of the Issuer or Guarantors if the requirements of Section 310(b) are met. Nothing herein shall prevent the Trustee from
filing with the Commission the application referred to in the second to last paragraph of Section 310(b) of the Trust Indenture Act. 

SECTION 6.09. Corporate Trustee Required; Eligibility 

There shall at all times be a corporate Trustee hereunder which complies with the requirements of Section 310(a) of the Trust Indenture Act, having a
combined capital and surplus of at least $50,000,000, subject to supervision or examination by federal or state authority and having a Corporate Trust Office in the continental United States. If such corporation publishes reports of condition at
least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as
set forth in its most recent report of condition so published. 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. 
 SECTION 6.10. 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 in accordance with the applicable requirements of Section 6.11. 

  

	(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 Issuer. If the instrument of acceptance by a successor Trustee required by Section 6.11 shall not have been delivered to the Trustee within 10 days after the giving of such notice of resignation, the resigning Trustee may
petition any court of competent jurisdiction at the Issuer’s expense for the appointment of a successor Trustee with respect to the Securities of 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 to the Issuer. 

  
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	(d)	 If at any time: 

  

	 	(1)	 the Trustee shall fail to comply with Section 6.08 after written request therefor by the Issuer or by any
Holder 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 6.09 and shall fail to resign after written request
therefor by the Issuer, any Guarantor or by any such Holder, 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, (i) the Issuer
by a Board Resolution may remove the Trustee with respect to all Securities, or (ii) subject to Section 5.14, any Holder who has been a bona fide Holder of a Security 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 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 Issuer, 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 6.11. 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 Issuer 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 6.11, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Issuer. If no successor Trustee with respect to the Securities of any
series shall have been so appointed by the Issuer or the Holders and accepted appointment in the manner required by Section 6.11, any Holder 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 Issuer 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 mailing or sending written notice of such event to all Holders of Securities 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. 

  
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 SECTION 6.11. 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 Issuer and to 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 Issuer or the successor Trustee, such retiring Trustee shall,
upon payment of amounts owed to it under Section 6.07, 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 Issuer, 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 and 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 upon execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein 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 Issuer, any Guarantor or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all 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 Issuer shall execute any and all instruments for more fully and
certainly vesting in and confirming to such successor Trustee all rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

  
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	(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. 

 SECTION 6.12. Merger, Conversion, Consolidation or Succession to
Business 
 Any corporation or association into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or
association resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation or association to which all or substantially all of the corporate trust business of the Trustee may be sold or otherwise
transferred, shall be the successor trustee hereunder without any further act. 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 6.13. Preferential Collection of Claims Against Issuer 

The Trustee is subject to Section 311(a) of the Trust Indenture Act, excluding any creditor relationship listed in Section 311(b) of the Trust
Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent indicated therein. 

ARTICLE SEVEN 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND ISSUER 

SECTION 7.01. Issuer to Furnish Trustee Names and Addresses of Holders 

The Issuer will furnish or cause to be furnished to the Trustee 
  

	(a)	 semi-annually, either (i) not later than June 1 and December 1 in each year in the case of
Original Issue Discount Securities of any series which by their terms do not bear interest prior to Maturity, or (ii) not more than 15 days after each Regular Record Date in the case of Securities of any other series, a list, each in such form
as the Trustee may reasonably require, of the names and addresses of the Holders of Securities of such series as of the preceding June 1 or December 1 or as of such Regular Record Date, as the case may be; and 

 

	(b)	 at such other times as the Trustee may request in writing, within 30 days after the receipt by the Issuer 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 with respect to Securities of any series, no such lists need be
furnished. 

  
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 SECTION 7.02. Preservation of Information; Communications to Holders 

 

	(a)	 The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of
Holders contained in the most recent list furnished to the Trustee as provided in Section 7.01 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to
it as provided in Section 7.01 upon receipt of a new list so furnished. 

  

	(b)	 The rights of Holders to communicate with other Holders with respect to their rights under this Indenture or
under the Securities and the corresponding rights and duties of the Trustee shall be provided by the Trust Indenture Act. 

  

	(c)	 Every Holder of Securities, by receiving and holding the same, agrees with the Issuer and the Trustee that
neither the Issuer nor the Trustee nor any agent of either of them shall be held accountable by reason of any disclosure or information as to the names and addresses of Holders made pursuant to the Trust Indenture Act. 

SECTION 7.03. Reports by Trustee to Holders 
 Within
60 days after each May 1 beginning with the May 1 following the date of the first issuance of Securities under this Indenture, and for so long as Securities remain Outstanding, the Trustee shall (at the expense of the Issuer) mail to the
Holders of the Securities a brief report dated as of such May 1 that complies with Section 313(a) of the Trust Indenture Act (but if no event described in Section 313(a) of the Trust Indenture Act has occurred within the twelve months
preceding such May 1, no report need be transmitted). The Trustee also shall comply with Section 313(b)(2) of the Trust Indenture Act. The Trustee shall also transmit by mail all reports as required by Section 313(c) of the Trust
Indenture Act. 
 A copy of each report at the time of its mailing to the Holders of Securities shall be mailed to the Issuer and filed with the Commission
and each stock exchange on which the Securities are listed, if any, in accordance with Section 313(d) of the Trust Indenture Act. The Issuer shall promptly notify the Trustee in writing when the Securities are listed on any stock exchange or
delisting thereof. 
 ARTICLE EIGHT 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 

SECTION 8.01. Merger, Consolidation, etc,. Only on Certain Terms 

Neither the Issuer nor any of the Guarantors shall consolidate with or merge into any other Person or convey, transfer or lease its properties and assets
substantially as an entirety to any Person, unless: 
  

	(1)	 if the Issuer or such Guarantor, as the case may be, 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 Person formed by such consolidation or into which the Issuer or such Guarantor, as the case may be, is merged or the Person which acquires by
conveyance or transfer, or which leases, the properties and assets of the Issuer or such Guarantor, as the case may be, substantially as an entirety shall (i) in the case of the Issuer or any Guarantor that is not Willis North America Inc., be
a Person organized and existing under the laws of any United States jurisdiction, any state thereof, England and Wales, Ireland, the Netherlands or any country that is a member of the European Monetary Union, or (ii)

  
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in the case of Willis North America Inc., be a Person organized and existing under the laws of any United States jurisdiction and any state thereof or the District of Columbia, and shall
expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the obligations of the Issuer or any of the Guarantors, as the case may be, under this Indenture and the
Securities and immediately after such transaction no Event of Default shall have happened or be continuing; and 

  

	(2)	 the Issuer or such Guarantor, as the case may be, has delivered to the Trustee an Officer’s Certificate
and an Opinion of Counsel, each stating that (a) such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article
and that all conditions precedent herein provided for relating to such transaction have been complied with and (b) in the case of a consolidation with or merger by the Issuer into a Person organized other than under the laws of Ireland or the
conveyance, transfer or lease by the Issuer of its properties and assets substantially as an entirety to a Person organized other than under the laws of Ireland, Holders will not recognize income, gain or loss for U.S. Federal income tax purposes as
a result of such consolidation, merger, conveyance, transfer or lease and will be subject to U.S. Federal income tax on the same amounts, in the same manner and at the same time as would have been the case if such consolidation, merger, conveyance,
transfer or lease had not occurred. 

 SECTION 8.02. Successor Corporation Substituted 

Upon any consolidation by the Issuer or any of the Guarantors, as the case may be, with or merger by the Issuer or such Guarantor into any other Person or any
conveyance, transfer or lease of the properties and assets of the Issuer or such Guarantor substantially as an entirety in accordance with Section 8.01, the successor Person formed by such consolidation or into which the Issuer or such
Guarantor 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 Issuer or such Guarantor, as the case may be, under this Indenture with the same
effect as if such successor Person had been named as the Issuer or such Guarantor herein, and thereafter, except in the case of a lease, the predecessor Person 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 Issuer and each Guarantor, when authorized by a Board Resolution, in the case of the Issuer, and a resolution of the
Board of Directors of such Guarantor or a committee thereof in the case of such Guarantor (which shall be certified in the same manner as a Board Resolution), and the Trustee, at any time and from time to time, may enter into one or more indentures
supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 

  
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	(1)	 to evidence the succession of another Person to the Issuer or any Guarantor and the assumption by any such
successor of the covenants of the Issuer or any Guarantor herein and in the Securities (pursuant to Article Eight, if applicable); or 

  

	(2)	 to add to the covenants of the Issuer or any Guarantor 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 Issuer or any Guarantor; or 

  

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

  

	(4)	 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 bearer form, registrable or not registrable as to Principal, and with or without interest coupons, or to provide for uncertificated Securities (so long as any “registration-required obligation”
within the meaning of section 163(f)(2) of the Internal Revenue Code of 1986, as amended, is in registered form for purposes of such section); or 

  

	(5)	 to change or eliminate any of the provisions of this Indenture, provided that any such change or elimination
shall become effective only when there is no Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such provision; or 

 

	(6)	 to secure the Securities; or 

 

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

  

	(8)	 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 6.11(b); or 

  

	(9)	 to cure any ambiguity, to correct or supplement any provision herein which may be inconsistent with any other
provision herein, to eliminate any conflict between the terms hereof and the Trust Indenture Act or to make any other provision with respect to matters or questions arising under this Indenture, provided such action shall not adversely affect
the interests of the Holders of Securities of any series in any material respect. 

 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 Issuer and the Trustee, the Issuer and each Guarantor each, when authorized by a Board 

  
 49 

 
Resolution, in the case of the Issuer, and a resolution of the Board of Directors of such Guarantor or a committee thereof in the case of such Guarantor (which shall be certified in the same
manner as a Board Resolution), and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provision 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,

  

	(1)	 change the Stated Maturity of the Principal of, or any installment of principal of or interest on, any
Security, or reduce the Principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, 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 adversely affect any right of repayment at the option of the Holder of any Security, or reduce the amount of, or postpone the date fixed for, the payment of any
sinking fund or analogous obligation, 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), in each case other than the
amendment or waiver in accordance with the terms of this Indenture of any covenant or related definition included pursuant to Section 3.01 that provides for an offer to repurchase any Securities of a series upon a sale of assets or change of
control transaction, 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, Section 5.13 or Section 10.07, 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. 

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 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 the Holders 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. 

  
 50 

 SECTION 9.03. Execution of Supplemental Indentures 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts
created by this Indenture, the Trustee shall receive, and shall be fully protected in relying upon, in addition to the documents required by Section 1.02 hereof, an Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture and is the legal, valid and binding obligation of the Issuer and the Guarantors. The Trustee in its sole discretion may, but shall not be obligated to, enter into any such supplemental indenture which
adversely affects the Trustee’s own rights, duties 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 Securities 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 Issuer, bear a notation as to any matter provided for in such supplemental indenture. If the Issuer shall so determine, new Securities of any series so modified as to conform, in the opinion of the Issuer, to any such supplemental indenture may
be prepared and executed by the Issuer and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 

SECTION 9.07. Notice of Supplemental Indenture 

Promptly after the execution by the Issuer, each Guarantor and the Trustee of any supplemental indenture pursuant to Section 9.02, the Issuer shall
transmit, in the manner and to the extent provided in Section 1.05, to all Holders of any series of the Securities affected thereby, a notice setting forth in general terms the substance of such supplemental indenture. The failure to give such
notice to all Holders of Securities of such series, or any defect therein, shall not impair or affect the validity of such supplemental indenture. 

ARTICLE TEN 
 COVENANTS

 SECTION 10.01. Payment of Principal, Premium and Interest 

The Issuer covenants and agrees for the benefit of the Holders of Securities of each series that it will duly and punctually pay the Principal of (and premium,
if any) and interest, if any, on the Securities of that series in accordance with the terms of the Securities of that series and this Indenture. Principal, premium, if any, and interest shall be considered paid on the date due if the Paying Agent,
if other than the Issuer or one of its Subsidiaries, holds as of 10:00 a.m. New York City time on the due date money deposited by the Issuer in immediately available funds and 

  
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designated for and sufficient to pay all principal, premium, if any, and interest then due. The Issuer shall be responsible for making calculations called for under the Securities, including but
not limited to determination of redemption price, premium, if any, and any additional amounts or other amounts payable on the Notes. The Issuer will make the calculations in good faith and, absent manifest error, its calculations will be final and
binding on the Holders. The Issuer will provide a schedule of its calculations to the Trustee when requested by the Trustee, and the Trustee is entitled to rely conclusively on the accuracy of the Issuer’s calculations without independent
verification. 
 SECTION 10.02. Maintenance of Office or Agency 

The Issuer will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be surrendered for
registration of transfer and exchange, where notices and demands to or upon the Issuer in respect of the Securities of that series and this Indenture may be served and where the Securities may be presented for payment. The Issuer 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 Issuer 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, and the Issuer hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and
demands. 
 The Issuer 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 Issuer of its obligation to maintain
an office or agency in each Place of Payment for Securities of any series for such purposes. The Issuer 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. 
 SECTION 10.03. Money for Securities Payments to Be Held in Trust 

If the Issuer or any Guarantor shall at any time act as 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, if any, on the Securities of that series, set aside, segregate and hold in trust for the benefit of the Persons 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 in writing of its action or failure so to act or of any failure by the Issuer (or by any other obligor on
the Securities of that series) to make any payment of the Principal of (and premium, if any) or interest, if any, on the Securities of such series when the same shall be due and payable. 

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

  
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 If the Issuer shall appoint a Paying Agent other than the Trustee for any series of Securities, it will
cause such Paying Agent 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)	 hold all sums held by it for the payment of the Principal of (and premium, if any) or interest, if any, on the
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; 

 

	(2)	 give the Trustee written notice of any default by the Issuer or any Guarantor (or any other obligor upon the
Securities of that series) in the making of any payment of Principal (and premium, if any) or interest, if any, on the Securities of that series; and 

  

	(3)	 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 Issuer may at any time, for the purpose of obtaining the
satisfaction and discharge with respect to one or more or all series of Securities hereunder or for any other reason, pay or by Issuer Order direct any Paying Agent to pay, to the Trustee all sums held in trust for any such series by the Issuer, any
Guarantor or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Issuer, any Guarantor 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. 
 Any money deposited with the Trustee or any Paying Agent, or then
held by the Issuer in trust for the payment of the Principal of (and premium, if any) or interest 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 Issuer or any Guarantor on Issuer Request subject to applicable abandoned property and escheat law, or (if then held by the Issuer or any Guarantor) shall be discharged from such trust; and the Holder of such Security shall
thereafter, as an unsecured general creditor, look only to the Issuer or any Guarantor for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuer or any Guarantor 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 Issuer cause to be published once a week for two consecutive
weeks (in each case on any day of the week) in an Authorized Newspaper 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, any unclaimed balance
of such money then remaining will be repaid to the Issuer. 
 SECTION 10.04. Corporate Existence 

Subject to Article Eight, the Issuer will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence.

  
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 SECTION 10.05. Payment of Taxes and Other Claims 

The Issuer will, and will cause each Significant Subsidiary to, 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 Issuer or any such Significant Subsidiary or upon the income, profits or property of the Issuer or any such Significant 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 Issuer or any such Significant Subsidiary; provided, however, that none of the Issuer nor any Significant Subsidiary shall 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 10.06. Maintenance of Properties 
 The Issuer
will cause all its properties used or useful in the conduct of its business to be maintained and kept in reasonably good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs,
renewals, replacements, betterments and improvements thereof, all as in the judgment of the Issuer may be necessary so that the business carried on in connection therewith may be properly conducted at all times; provided, however, that nothing in
this Section shall prevent the Issuer from discontinuing the operation or maintenance of any of its properties if such discontinuance is, in the judgment of the Issuer desirable in the conduct of its business and not disadvantageous in any material
respect to the Holders of the Securities of any series. 
 SECTION 10.07. Waiver of Certain Covenants 

The Issuer may omit in any particular instance to comply with any term, provision or condition set forth in Sections 10.04, 10.05 and 10.06 or established
pursuant to Section 3.01 or 9.01, 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 Issuer and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

SECTION 10.08. Statement by Officers as to Default 

The Issuer will, within 90 days after the close of each fiscal year, commencing with the first fiscal year ending after the issuance of Securities of any
series under this Indenture, file with the Trustee a certificate of the principal executive officer, the principal financial officer or the principal accounting officer of the Issuer, covering the period from the date of issuance of such Securities
to the end of the fiscal year in which such Securities were issued, in the case of the first such certificate, and covering the preceding fiscal year in the case of each subsequent certificate, and stating whether or not, to the knowledge of the
signer, the Issuer has complied with all conditions and covenants on its part contained in this Indenture, and, if the signer has obtained knowledge of any default by the Issuer in the performance, observance or fulfillment of any such condition or
covenant, specifying each such default and the nature thereof. For the purpose of this Section 10.08, compliance shall be determined without regard to any grace period or requirement of notice provided pursuant to the terms of this Indenture.

  
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 SECTION 10.09. Reports by the Issuer 

The Issuer shall: 
  

	(1)	 file with the Trustee, within 15 days after the Issuer is required to file the same with the Commission, copies
of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Issuer may be required to file with
the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934; or, if the Issuer is not required to file information, documents or reports pursuant to either of said Sections, then it shall file with the
Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the
Securities Exchange Act of 1934 in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 

 

	(2)	 file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time
by the Commission, such additional information, documents and reports with respect to compliance by the Issuer with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and

  

	(3)	 transmit by mail to all Holders, as their names and addresses appear in the Security Register, within 30 days
after the filing thereof with the Trustee, such summaries of any information, documents and reports required to be filed by the Issuer pursuant to paragraphs (1) and (2) of this Section as may be required by rules and regulations prescribed
from time to time by 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 notice of any information contained therein or determinable from information contained therein, including the Issuer’s compliance with any of its covenants hereunder
(as to which the Trustee is entitled to rely exclusively on Officer’s Certificates). 
 SECTION 10.10. Further Assurances 

From time to time whenever reasonably demanded by the Trustee, the Issuer and each Guarantor will make, execute and deliver or cause to be made, executed and
delivered any and all such further and other instruments and assurances as may be reasonably necessary or proper to carry out the intention or facilitate the performance of the terms of this Indenture. 

  
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 ARTICLE ELEVEN 

REDEMPTION OF SECURITIES 

SECTION 11.01. Applicability of Article 
 Securities
of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 3.01 for Securities of any series) in accordance with this Article.

 SECTION 11.02. Election to Redeem; Notice to Trustee 

The election of the Issuer to redeem any Securities shall be evidenced by a Board Resolution. In case of any redemption at the election of the Issuer of all or
less than all the Securities of any series, the Issuer shall, at least 45 days prior to the Redemption Date fixed by the Issuer (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. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the
Issuer shall furnish the Trustee with an Officer’s Certificate evidencing compliance with such restriction. 
 SECTION 11.03. Selection by
Trustee of Securities to Be Redeemed 
 If less than all the Securities of any series are to be redeemed, the particular Securities to be redeemed shall
be selected not more than 45 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and in accordance with
the Depositary’s procedures and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or any integral multiple thereof) of the Principal Amount of Securities
of such series of a denomination larger than the minimum authorized denomination for Securities of that series; provided, however, that Securities of such series registered in the name of the Issuer shall be excluded from any such
selection for redemption until all Securities of such series not so registered shall have been previously selected for redemption. 
 The Trustee shall
promptly notify the Issuer 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 Amount of such Securities which has been or is to be redeemed. 

  
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 SECTION 11.04. Notice of Redemption 

Notice of redemption shall be given not less than 30 nor more than 60 days prior to the Redemption Date, to each Holder of Securities to be redeemed. 

All notices of redemption shall identify the Securities to be redeemed (including CUSIP numbers and that no representation is made as to the correctness or
accuracy of any CUSIP number that is listed in such notice or printed on the Securities) and shall state: 
  

	(1)	 the Redemption Date, 

 

	(2)	 the Redemption Price, or if not then ascertainable, the manner of calculation thereof, 

 

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

  

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

  

	(5)	 that interest, if any, accrued to the date fixed for redemption will be paid as specified in said notice,

  

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

  

	(7)	 that the redemption is for a sinking fund, if such is the case. 

Notice of redemption of Securities to be redeemed at the election of the Issuer shall be given by the Issuer or, at the Issuer’s request delivered to the
Trustee at least ten days prior to the date the notice of redemption is to be sent (unless a shorter period shall be satisfactory to the Trustee) together with the notice to be given, by the Trustee in the name and at the expense of the Issuer. 

SECTION 11.05. Deposit of Redemption Price 
 On or
prior to 10 a.m. New York City time, on any Redemption Date, the Issuer shall deposit with the Trustee or with a Paying Agent (or, if the Issuer or any Guarantor is acting as 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 to but excluding the Redemption Date, all the Securities which are to be
redeemed on that date. 
 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 Issuer 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 Issuer at the Redemption Price, together with accrued interest to but excluding the Redemption Date; provided, however, that installments of interest 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 relevant Record Dates according to their terms and the provisions of
Section 3.07. 
 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. 

  
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 SECTION 11.07. Securities Redeemed in Part 

Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if the Issuer or the Trustee so requires, due
endorsement by, or a written instrument of transfer in form satisfactory to the Issuer and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Issuer 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, 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. Securities in denominations larger than the minimum authorized denomination therefor may be redeemed in part, but only in whole multiples of $1,000. 

SECTION 11.08. Securities No Longer Outstanding After Notice to Trustee and Deposit of Cash 

If the Issuer, having given notice to the Trustee as provided in Section 11.02, shall have deposited with the Trustee or a Paying Agent, for the benefit
of the Holders of any Securities of any series or portions thereof called for redemption in whole or in part cash or other form of payment if permitted by the terms of such Securities, in the amount necessary so to redeem all such Securities or
portions thereof on the Redemption Date and provision satisfactory to the Trustee shall have been made for the giving of notice of such redemption, such Securities or portions thereof, shall thereupon, for all purposes of this Indenture, be deemed
to be no longer Outstanding, and the Holders thereof shall be entitled to no rights thereunder or hereunder, except the right to receive payment of the Redemption Price, together with interest accrued to but excluding the Redemption Date, on or
after the Redemption Date of such Securities or portions thereof. 
 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 specified as contemplated by Section 3.01 for Securities of such series. 
 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 any 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. 

  
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 SECTION 12.02. Satisfaction of Sinking Fund Payments with Securities 

The Issuer (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may apply as a credit
Securities of a series which have been redeemed either at the election of the Issuer pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each
case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series; provided that such
Securities have not been previously so credited pursuant to the terms of such Securities. 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 45 days prior to each sinking fund payment date for any series of Securities, the Issuer will deliver to the Trustee an
Officer’s Certificate specifying the amount of the next ensuing 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 Securities of that series pursuant to Section 12.02 and the basis for such credit and will also deliver to the Trustee any Securities to be so delivered. Not less than 30 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 redemption thereof to be given in the name of and at the
expense of the Issuer in the manner provided in Section 12.04. 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 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, SHAREHOLDERS 

OFFICERS AND DIRECTORS 

SECTION 13.01. Exemption from Individual Liability 

No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect
thereof, shall be had against any incorporator, stockholder, shareholder, officer or director, as such, past, present or future, of the Issuer, any Guarantor or of any successor Person, either directly or through the Issuer or any Guarantor, whether
by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations of the
Issuer or any Guarantor, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, shareholders, officers or directors, as such, of the Issuer, any Guarantor or of any successor
Person, or any of them, because of the creation of the Indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and that any and
all such personal liability, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, shareholder, officer or director, as

  
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such, because of the creation of the Indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or
implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the execution of this Indenture and the issuance of the Securities. 

ARTICLE FOURTEEN 

MEETINGS OF HOLDERS OF SECURITIES 

SECTION 14.01. Purposes of Meetings 
 A meeting of
Holders of Securities of all or any series may be called at any time and from time to time pursuant to the provisions of this Article for any of the following purposes: 
  

	(1)	 to give any notice to the Issuer, any Guarantor or to the Trustee, or to give any directions to the Trustee, or
to waive any default hereunder and its consequences, or to take any other action authorized to be taken by the Holders of Securities pursuant to any of the provisions of Article Five; 

 

	(2)	 to remove the Trustee and appoint a successor Trustee pursuant to the provisions of Article Six;

  

	(3)	 to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of
Section 9.02; or 

  

	(4)	 to take any other action authorized to be taken by or on behalf of the Holders of any specified percentage in
aggregate Principal Amount of the Securities of all or any series, as the case may be, under any other provision of this Indenture or under applicable law. 

SECTION 14.02. Call of Meetings by Trustee 
 The
Trustee may at any time at the expense of the Issuer call a meeting of Holders of Securities of all or any series to take any action specified in Section 14.01, to be held at such time and at such place in the Borough of Manhattan, The City of
New York, as the Trustee shall determine. Notice of every meeting of the Holders of Securities of all or any series, setting forth the time and place of such meeting and in general terms the action proposed to be taken at such meeting, shall be
given to all Holders of Securities of each series that may be affected by the action proposed to be taken at such meeting by publication at least twice in an Authorized Newspaper prior to the date fixed for the meeting, the first publication to be
not less than 20 nor more than 180 days prior to the date fixed for the meeting, and the last publication to be not more than five days prior to the date fixed for the meeting, or such notice may be given to Holders by mailing the same by first
class mail, postage prepaid, to the Holders of Securities at the time Outstanding, at their addresses as they shall appear in the Security Register, not less than 20 nor more than 60 days prior to the date fixed for the meeting. Failure to receive
such notice or any defect therein shall in no case affect the validity of any action taken at such meeting. Any meeting of Holders of Securities of all or any series shall be valid without notice if the Holders of all such Securities Outstanding,
the Issuer and the Trustee are present in person or by proxy or shall have waived notice thereof before or after the meeting. 

  
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 SECTION 14.03. Call of Meetings by Issuer or Holders 

In case at any time the Issuer by Board Resolution, or the Holders of at least 10% in aggregate Principal Amount of the Securities then Outstanding of each
series that may be affected by the action proposed to be taken at the meeting shall have requested the Trustee at the expense of the Issuer to call a meeting of Holders of Securities of all series that may be so affected to take any action
authorized in Section 14.01 by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have mailed or made the first publication of the notice of such meeting within 30 days
after receipt of such request, then the Issuer or the Holders in the amount above specified may determine the time and the place in the Borough of Manhattan, The City of New York for such meeting and may call such meeting by mailing or publishing
notice thereof as provided in Section 14.02. 
 SECTION 14.04. Qualification for Voting 

To be entitled to vote at any meeting of Holders a Person shall (a) be a Holder of one or more Securities of a series affected by the action proposed to
be taken, or (b) be a Person appointed by an instrument in writing as proxy by the Holder of one or more such Securities. The right of Holders to have their votes counted shall be subject to the proviso in the definition of
“Outstanding” in Section 1.01. The only Persons who shall be entitled to be present or to speak at any meeting of Holders shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and
its counsel and any representatives of the Issuer and its counsel. 
 SECTION 14.05. Quorum; Adjourned Meetings 

At any meeting of Holders, the presence of Persons holding or representing Securities in an aggregate Principal Amount sufficient to take action on the
business for the transaction of which such meeting was called shall be necessary to constitute a quorum. No business shall be transacted in the absence of a quorum unless a quorum is represented when the meeting is called to order. In the absence of
a quorum within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened at the request of the Holders of Securities (as provided in Section 14.03), be dissolved. In any other case the Persons holding or
representing a majority in aggregate Principal Amount of the Securities represented at the meeting may adjourn such a meeting for a period of not less than 10 days with the same effect, for all intents and purposes, as though a quorum had been
present. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be similarly further adjourned for a period of not less than 10 days. Notice of the reconvening of any adjourned meeting shall be given as provided in
Section 14.02 except that, in the case of publication, such notice need be published only once but must be given not less than five days prior to the date on which the meeting is scheduled to be reconvened, and in the case of mailing, such
notice may be mailed not less than five days prior to such date. 
 Any Holder of a Security who has executed an instrument in writing complying with the
provisions of Section 1.04 shall be deemed to be present for the purposes of determining a quorum and be deemed to have voted; provided, however, that such Holder shall be considered as present or voting only with respect to the
matters covered by such instrument in writing. 

  
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 Any resolution passed or decision taken at any meeting of the Holders of Securities of any series duly held
in accordance with this Section shall be binding on all Holders of such series of Securities whether or not present or represented at the meeting. 

SECTION 14.06. Regulations 
 Notwithstanding any
other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any meeting of Holders of Securities, in regard to proof of the holding of Securities and of the appointment of proxies, and in regard
to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit. 

The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Issuer or by
Holders of Securities as provided in Section 14.03, in which case the Issuer or the Holders of Securities calling the meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary
of the meeting shall be elected by vote of the Holders of a majority in Principal Amount of the Securities represented at the meeting. 
 At any meeting
each Holder of a Security of a series entitled to vote at such meeting, or proxy therefor, shall be entitled to one vote for each $1,000 Principal Amount (in the case of Original Issue Discount Securities, such Principal Amount to be determined as
provided in the definition of “Outstanding”) of Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security challenged as not
Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote except as a Holder of Securities of such series or proxy therefor. Any meeting of Holders of Securities duly called
pursuant to the provisions of Section 14.02 or 14.03 at which a quorum is present may be adjourned from time to time, and the meeting may be held as so adjourned without further notice. 

SECTION 14.07. Voting Procedure 
 The vote upon any
resolution submitted to any meeting of Holders shall be by written ballot on which shall be subscribed the signatures of the Holders of Securities entitled to vote at such meeting, or proxies therefor, and on which shall be inscribed an identifying
number or numbers or to which shall be attached a list of identifying numbers of the Securities so held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting
for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting of Holders of
Securities shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of the
facts setting forth a copy of the notice of the meeting and showing that said notice was mailed or published as provided in Section 14.02 and, if applicable, Section 14.05. The record shall be signed and verified by the permanent chairman
and secretary of the meeting and one of the duplicates shall be delivered to the Issuer and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. 

  
 62 

 Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

SECTION 14.08. Written Consent in Lieu of Meetings 

The written authorization or consent by the Holders of the requisite percentage in aggregate Principal Amount of Securities of any series herein provided,
entitled to vote at any such meeting, evidenced as provided in Section 1.04 and filed with the Trustee, shall be effective in lieu of a meeting of the Holders of Securities of such series, with respect to any matter provided for in this Article
Fourteen. 
 SECTION 14.09. No Delay of Rights by Meeting 

Nothing contained in this Article shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Holders of Securities of any or
all series or any rights expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or the Holders of Securities of any or all such series
under any provisions of this Indenture or the Securities. 
 ARTICLE FIFTEEN 

GUARANTEE OF SECURITIES 

SECTION 15.01. Guarantee 
 Except as otherwise set
forth in a Board Resolution, Officer’s Certificate or supplemental indenture establishing a series of Securities and subject to the provisions of this Article Fifteen, each Guarantor hereby jointly and severally unconditionally and irrevocably
guarantees, as a primary obligor and not merely as a surety, to each Holder and to the Trustee and its successors and assigns (a) the full and punctual payment of Principal of and interest on the Securities when due, whether on the Stated
Maturity, by acceleration, by redemption or otherwise; and all other monetary Obligations of the Issuer under this Indenture (including all obligations of the Issuer to the Trustee under this Indenture) and the Securities and (b) the full and
punctual performance within applicable grace periods of all other obligations of the Issuer whether for expenses, indemnification or otherwise under this Indenture and the Securities (all the foregoing being hereinafter collectively called the
“Guaranteed Obligations”). Each Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from each such Guarantor, and that each such Guarantor shall remain
bound under this Article Fifteen notwithstanding any extension or renewal of any Guaranteed Obligation. 
 Each Guarantor waives (to the extent that it may
lawfully do so) (a) presentation to, demand of, payment from and protest to the Issuer of any of the Guaranteed Obligations, (b) notice of protest for nonpayment and (c) notice of any default under Securities of any series or the
Guaranteed Obligations. The obligations of each Guarantor hereunder shall not be affected by (i) the failure of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Issuer or any other Person
under this Indenture, the Securities of any series or any other agreement or otherwise; (ii) any extension or renewal of any thereof; (iii) any rescission, waiver, 

  
 63 

 
amendment or modification of any of the terms or provisions of this Indenture, the Securities of any series or any other agreement relating to this Indenture or the Securities; (iv) the
release of any security held by any Holder or the Trustee for the Guaranteed Obligations or any of them; (v) the failure of any Holder or the Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or
(vi) any change in the ownership of such Guarantor, except as provided in Section 15.02(b). 
 Each Guarantor hereby waives (to the extent that it
may lawfully do so) (x) any right to which it may be entitled to have its obligations hereunder divided among the Guarantors, such that such Guarantor’s obligations would be less than the full amount claimed, (y) any right to which it
may be entitled to have the assets of the Issuer first be used and depleted as payment of the Issuer’s or such Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such Guarantor hereunder and (z) any
right to which it may be entitled to require that the Issuer be sued prior to an action being initiated against such Guarantor. 
 Each Guarantor further
agrees that its Guarantee herein constitutes a guarantee of payment, performance and compliance when due (and not a guarantee of collection) and waives (to the extent that it may lawfully do so) any right to require that any resort be had by any
Holder or the Trustee to any security held for payment of the Guaranteed Obligations. 
 Except as expressly set forth in Article Four and
Section 15.02, the obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not
be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the
obligations of each Guarantor herein shall not be discharged or impaired or otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Securities of any series or
any other agreement relating to this Indenture or the Securities, by any waiver or modification of any thereof, by any default, failure or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission
or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor or would otherwise operate as a discharge of any Guarantor as a matter of law or equity. 

Each Guarantor agrees that its Guarantee shall remain in full force and effect until payment in full of all the Guaranteed Obligations. Each Guarantor further
agrees that its Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of Principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by
any Holder or the Trustee upon the bankruptcy or reorganization of the Issuer or otherwise. 
 In furtherance of the foregoing and not in limitation of any
other right which any Holder or the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Issuer to pay the Principal of or interest on any Guaranteed Obligation when and as the same shall become due,
whether at Maturity, by acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be
paid, in cash, to the Holders or the Trustee an amount equal to the sum of (i) the unpaid Principal Amount of such Guaranteed Obligations, (ii) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not
prohibited by law) and (iii) all other monetary obligations of the Issuer to the Holders and the Trustee. 

  
 64 

 Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders
in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Guarantor further agrees that, as between it, on the one hand, and the Holders and the Trustee, on the other hand, (x) the
Maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article Five for the purposes of any Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of
the Guaranteed Obligations guaranteed hereby, and (y) in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article Five, such Guaranteed Obligations (whether or not due and payable) shall forthwith
become due and payable by such Guarantor for the purposes of this Section 15.01. 
 Each Guarantor also agrees to pay any and all fees, costs and
expenses (including reasonable attorneys’ fees and expenses and fees and expenses of agents) incurred by the Trustee or any Holder in enforcing any rights under this Section 15.01. 

SECTION 15.02. Limitation on Liability 
  

	(a)	 Any term or provision of this Indenture to the contrary notwithstanding, the maximum, aggregate amount of the
Guaranteed Obligations guaranteed hereunder by any Guarantor shall not exceed the maximum amount that can be hereby guaranteed without rendering this Indenture, as it relates to such Guarantor, voidable under applicable law relating to fraudulent
conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. 

  

	(b)	 Notwithstanding anything contrary in this Section 15, the guarantees, obligations, liabilities and
undertakings hereunder of any Guarantor incorporated under the laws of Ireland shall be deemed to be undertaken or incurred to the fullest extent permitted by law, except where the same would constitute unlawful financial assistance prohibited by
Section 82 of the Companies Act 2014 of Ireland. 

  

	(c)	 This Guarantee as to any Guarantor shall terminate and be of no further force or effect and such Guarantor
shall be deemed to be released from all obligations under this Article Fifteen and Section 8.02 upon (i) the merger or consolidation of such Guarantor with or into any Person other than the Issuer or a Subsidiary or Affiliate of the Issuer
where such Guarantor is not the surviving entity of such consolidation or merger or (ii) the sale, exchange or transfer to any Person not an Affiliate of the Issuer of all the Capital Stock in, or all or substantially all the assets of, such
Guarantor; provided however, that in the case of (i) and (ii) above, such merger, consolidation, sale, exchange or transfer is made in accordance with Section 8.01 and the successor Person or transferee has assumed all of the
obligations of such Guarantor under this Indenture and the Securities. This Guarantee also shall be automatically released upon the release or discharge of the Indebtedness that results in the creation of such Guarantee, as the case may be. If the
Guarantee of any 

  
 65 

	 	
Guarantor is deemed to be released or is automatically released, the Issuer shall deliver to the Trustee an Officer’s Certificate stating the identity of the released Guarantor, the basis
for release in reasonable detail, and that such release complies with this Indenture. At the request of the Issuer, and upon delivery to the Trustee of an Officer’s Certificate and an Opinion of Counsel that a Guarantor has been released and
that execution by the Trustee of an appropriate instrument evidencing the release of such Guarantor from its Subsidiary Guarantee complies with this Indenture, the Trustee shall execute and deliver an appropriate instrument evidencing such release.

 SECTION 15.03. Benefits Acknowledged 

Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this Indenture and that the
guarantee and waivers made by it pursuant to its Guarantee are knowingly made in contemplation of such benefits. 
 SECTION 15.04. Successors and
Assigns 
 This Article Fifteen shall be binding upon each Guarantor and its successors and assigns and shall inure to the benefit of the successors and
assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and in the Securities of any series shall
automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. 
 SECTION 15.05.
No Waiver 
 Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any right, power or privilege under this
Article Fifteen shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and the Holders herein
expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article Fifteen at law, in equity, by statute or otherwise. 

SECTION 15.06. Modification 
 No modification,
amendment or waiver of any provision of this Article Fifteen, nor the consent to any departure by any Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent
shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other or further notice or demand in the same, similar or other
circumstances. 

  
 66 

 ARTICLE SIXTEEN 

MISCELLANEOUS 
 SECTION 16.01.
Counterparts 
 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. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to
the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

  
 67 

 SIGNATURES 

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

 

			
	SIGNED AND DELIVERED FOR AND ON BEHALF OF AND AS THE DEED OF WILLIS TOWERS WATSON PUBLIC LIMITED COMPANY
	
	BY ITS LAWFULLY APPOINTED ATTORNEY
		
	By:	 	 
		 	Name:
		 	Title: Attorney
	
	IN THE PRESENCE OF:-
	
	 
	(Witness’ Signature)
	
	 
	(Witness’ Address)
	
	 
	(Witness’ Occupation)

 
			
	SIGNED AND DELIVERED FOR AND ON BEHALF OF AND AS THE DEED OF WILLIS TOWERS WATSON SUB HOLDINGS UNLIMITED COMPANY
	
	BY ITS LAWFULLY APPOINTED ATTORNEY
		
	By:	 	 
		 	Name:
		 	Title: Attorney
	
	IN THE PRESENCE OF:-
	
	 
	(Witness’ Signature)
	
	 
	(Witness’ Address)
	
	 
	(Witness’ Occupation)

 
			
	 WILLIS NETHERLANDS HOLDINGS, B.V.

		
	By:	 	 
		 	Name:
		 	Title:
	
	 WILLIS INVESTMENT UK HOLDINGS LIMITED

		
	By:	 	 
		 	Name:
		 	Title:
	
	 TA I LIMITED

		
	 By:
	 	 
		 	Name:
		 	Title:
	
	 WILLIS TOWERS WATSON UK HOLDINGS LIMITED

		
	By:	 	 
		 	Name:
		 	Title:
	
	 TRINITY ACQUISITION PLC

		
	By:	 	 
		 	Name:
		 	Title:
	
	 WILLIS GROUP LIMITED

		
	By:	 	 
		 	Name:
		 	Title:

 
			
	 WILLIS NORTH AMERICA INC.

		
	By:	 	 
		 	Name:
		 	Title:
	
	 COMPUTERSHARE TRUST COMPANY, N.A., AS TRUSTEE

		
	By:	 	 
		 	Name:
		 	Title:flgt-ex1041_29.htm

 

Exhibit 10.41

AMENDED AND RESTATED LEASE

by and between

STORE MASTER FUNDING IX, LLC

as Landlord 

and

CYTOMETRY SPECIALISTS, INC.,

as Tenant.

May 6, 2016

 

 

			
	
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Amended and Restated Lease Agreement 

2580 Westside Dr., Alpharetta, GA

File No.: 7210/02-432.1
	
 
	
 

 

 

TABLE OF CONTENTS

 

					
	
ARTICLE/SECTION
	
 
	
PAGE NO.

	
 
	
 
	
 

	
Article I LEASE OF PREMISES; POSSESSION
	
 
	
1

	
Section 1.1.
	
 
	
Lease to Tenant
	
 
	
1

	
Section 1.2.
	
 
	
Premises
	
 
	
1

	
Section 1.3.
	
 
	
Term
	
 
	
1

	
Section 1.4.
	
 
	
Rent
	
 
	
2

	
Section 1.5.
	
 
	
Permitted Uses
	
 
	
2

	
Section 1.6.
	
 
	
Delivery of Possession; Condition of Title
	
 
	
2

	
 
	
 
	
 

	
Article II COMMENCEMENT DATE; MORTGAGES
	
 
	
3

	
Section 2.1.
	
 
	
Commencement Date
	
 
	
3

	
Section 2.3.
	
 
	
Right to Mortgage
	
 
	
3

	
 
	
 
	
 

	
Article III USE AND QUIET ENJOYMENT OF PREMISES
	
 
	
3

	
Section 3.1.  
	
 
	
Use of Premises
	
 
	
3

	
Section 3.2.
	
 
	
Quiet Enjoyment
	
 
	
3

	
Section 3.3.
	
 
	
Compliance with Applicable Laws
	
 
	
3

	
Section 3.4.
	
 
	
Nuisance and Waste Prohibited
	
 
	
3

	
 
	
 
	
 

	
Article IV RENT
	
 
	
4

	
Section 4.1.
	
 
	
Base Rent
	
 
	
4

	
Section 4.2.
	
 
	
Additional Rent
	
 
	
4

	
Section 4.3.
	
 
	
Payment of Rent
	
 
	
4

	
Section 4.4.
	
 
	
Net Lease; Rent Absolute
	
 
	
5

	
Section 4.5.
	
 
	
First Month's Rent
	
 
	
5

	
 
	
 
	
 

	
Article V TAXES AND ASSESSMENTS; UTILITIES
	
 
	
5

	
Section 5.1.
	
 
	
Taxes and Assessments
	
 
	
5

	
Section 5.2.
	
 
	
Utilities
	
 
	
6

	
Section 5.3.
	
 
	
Other Charges
	
 
	
6

	
 
	
 
	
 

	
Article VI COVENANTS OF TENANT CONCERNING MAINTENANCE
	
 
	
6

	
Section 6.1.
	
 
	
Maintenance
	
 
	
6

	
Section 6.2.
	
 
	
Alterations
	
 
	
6

	
Section 6.3.
	
 
	
Landlord's Non-liability; Indemnification of Landlord
	
 
	
7

	
Section 6.4.
	
 
	
No Liens
	
 
	
8

	
 
	
 
	
 

	
Article VII RIGHT TO CONTEST
	
 
	
8

	
 
	
 
	
 

	
Article VIII DAMAGE OR DESTRUCTION BY FIRE OR OTHER CASUALTY
	
 
	
9

	
 
	
 
	
 

	
Article IX INSURANCE AND WAIVER OF SUBROGATION
	
 
	
9

	
Section 9.1.
	
 
	
Property Insurance
	
 
	
9

	
Section 9.2.
	
 
	
Liability and Other Insurance
	
 
	
10

	
Section 9.3.
	
 
	
Additional Insurance
	
 
	
11

	
Section 9.4.
	
 
	
Waiver of Subrogation
	
 
	
11

	
Section 9.5.
	
 
	
Insurance Company Rating Requirements
	
 
	
11

	
 
	
 
	
 

	
Article X EMINENT DOMAIN
	
 
	
11

	
 
	
 
	
 

	
Article XI ASSIGNMENT AND SUBLETTING
	
 
	
12

	
 
	
 
	
 

	
Article XII END OF TERM
	
 
	
15

 

 

			
	
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2580 Westside Dr., Alpharetta, GA

File No.: 7210/02-432.1
	
i
	
 

 

 

					
	
 
	
 
	
 

	
Article XIII EVENTS OF DEFAULT; LANDLORD'S REMEDIES; EXPENSES OF ENFORCEMENT
	
 
	
15

	
Section 13.1.
	
 
	
Events of Default
	
 
	
15

	
Section 13.2.
	
 
	
Termination of Lease; Reletting
	
 
	
16

	
Section 13.3.
	
 
	
Termination of Lease; Money Judgment
	
 
	
17

	
Section 13.4.
	
 
	
Expenses of Enforcement
	
 
	
17

	
Section 13.5.
	
 
	
Landlord's Right to Cure
	
 
	
17

	
Section 13.6.
	
 
	
Bankruptcy of Tenant
	
 
	
17

	
Section 13.7.
	
 
	
Tenant Dispute
	
 
	
19

	
Section 13.8.
	
 
	
Landlord Default
	
 
	
19

	
 
	
 
	
 

	
Article XIV   HOLDING OVER IN POSSESSION
	
 
	
20

	
 
	
 
	
 

	
Article XV    MORTGAGES
	
 
	
20

	
Section 15.1.
	
 
	
Subordination and Attornment
	
 
	
20

	
Section 15.2.
	
 
	
No Personal Liability
	
 
	
20

	
Section 15.3.
	
 
	
Notices to Mortgagee and Mortgagee Right to Cure
	
 
	
20

	
Section 15.4.
	
 
	
Foreclosure; Deed in Lieu of Foreclosure
	
 
	
21

	
Section 15.5.
	
 
	
Estoppel Certificates
	
 
	
21

	
Section 15.6.  
	
 
	
Mortgage and Other Obligations Binding on Tenant
	
 
	
21

	
 
	
 
	
 

	
Article XVI CERTAIN RIGHTS OF LANDLORD
	
 
	
22

	
Section 16.1.
	
 
	
Right of Entry
	
 
	
22

	
Section 16.2.
	
 
	
.  Sale or Transfer of Premises
	
 
	
22

	
 
	
 
	
 

	
Article XVII MISCELLANEOUS
	
 
	
23

	
Section 17.1.
	
 
	
Effect of Payments by Tenant
	
 
	
23

	
Section 17.2.
	
 
	
Waiver of Jury Trial
	
 
	
23

	
Section 17.3.
	
 
	
No Joint Venture
	
 
	
23

	
Section 17.4.
	
 
	
Effect of Waiver
	
 
	
23

	
Section 17.5.
	
 
	
Real Estate Brokers
	
 
	
23

	
Section 17.6.
	
 
	
Recitals
	
 
	
23

	
Section 17.7.
	
 
	
Time of Essence
	
 
	
23

	
Section 17.8.
	
 
	
Communications
	
 
	
24

	
Section 17.9.
	
 
	
Successors and Assigns
	
 
	
24

	
Section 17.10.
	
 
	
Severability
	
 
	
24

	
Section 17.11.
	
 
	
Execution of Counterparts
	
 
	
24

	
Section 17.12.
	
 
	
Entire Agreement
	
 
	
24

	
Section 17.13.
	
 
	
Modification, Waiver and Termination
	
 
	
24

	
Section 17.14.
	
 
	
Construction
	
 
	
25

	
Section 17.15.
	
 
	
Governing Law
	
 
	
22

	
Section 17.16.
	
 
	
Limitation of Landlord's Liability
	
 
	
26

	
Section 17.17.
	
 
	
No Merger
	
 
	
26

 

 

 

 

			
	
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Amended and Restated Lease Agreement 

2580 Westside Dr., Alpharetta, GA

File No.: 7210/02-432.1
	
ii
	
 

 

 

AMENDED AND RESTATED LEASE

THIS AMENDED AND RESTATED LEASE (the “Lease”) dated as of May 6, 2016 (the “Effective Date”), by and between STORE MASTER FUNDING IX, LLC, a Delaware limited liability company ("Landlord"), and CYTOMETRY SPECIALISTS, INC., a Georgia corporation ("Tenant").

WITNESSETH:

WHEREAS, as of March 17, 2016, Landlord has purchased from Tenant that certain real property more particularly described on Exhibit A attached hereto and incorporated by reference herein, all rights, privileges, and appurtenances associated therewith, and all buildings, fixtures (to the extent permanently affixed to such real estate) and other improvements (whether or not affixed to such real estate) now or hereafter located on such parcel or parcels of real estate (such buildings, fixtures and other improvements now or hereafter located on such real estate hereinafter referred to as the “Property”);

WHEREAS, this Lease amends and restates in its entirety that certain Lease dated March 17, 2016, together with any and all amendments thereto (the "Original Lease") by and between Landlord and Tenant. The terms of the Original Lease shall remain in force and effect as to the period ending on 11:59 P.M. prior to the Effective Date hereof. The terms contained in this Lease shall apply to and be effective with respect to the period from and after the Effective Date, without novation, replacement or substitution of the Original Lease, and the leasehold estate of Tenant shall mean the leasehold estate commencing under the Original Lease.

WHEREAS, Tenant desires to lease from Landlord, and Landlord desires to lease to Tenant, the Premises (as defined in Section 1.2) on the terms and conditions set forth in this Lease.

NOW, THEREFORE, in consideration of the Premises and the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

ARTICLE I

LEASE OF PREMISES; POSSESSION

Section 1.1. Lease to Tenant.   Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Premises described in Section 1.2. below, for the Term provided for in Section 1.3. below, at the Rent provided for in Section 1.4. below, and under the other terms and conditions provided for in this Lease.

Section 1.2. Premises.   The "Premises" being leased under this Lease consists of the real estate more particularly described on Exhibit A, which is attached to this Lease and incorporated by reference herein, and includes all of the real property owned by Landlord in such location, and all of the Property situated thereon, including all equipment, appliances and other property attached or appurtenant to such real estate. The Premises shall not include furniture, fixtures (to the extent not permanently affixed to the real estate), equipment, appliances and other personal property owned by Tenant or other permitted subtenants or occupants.

Section 1.3. Term. The Term of this Lease shall expire on March 31, 2028, subject to earlier termination as provided herein. Provided Tenant is not in default under this Lease beyond any applicable notice and cure period at the time of the exercise of the option granted herein and at the time of the commencement of the Extended Term (as defined below), Tenant shall have an option to extend the Term of this Lease for four (4) additional five (5) year periods (collectively the “Extended Terms” and individually the “Extended Term”), commencing immediately upon the expiration of the original Term hereof and 

 

			
	
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Amended and Restated Lease Agreement 

2580 Westside Dr., Alpharetta, GA

File No.: 7210/02-432.1
	
1
	
 

 

 

continuing for five (5) years thereafter for each Extended Term. Tenant shall exercise the foregoing option by written notice to Landlord (“Tenant’s Extension Notice”) given no less than nine (9) months prior to the expiration of the original Term or the previous Extended Term. The foregoing option shall terminate if notice is not timely given, time being of the essence with respect thereto. All references to the “Term” of this Lease shall, unless the context shall clearly indicate a different meaning, be deemed to constitute a reference to the original Term of this Lease and the Extended Terms, as the same may be exercised as permitted hereunder.

In the event Tenant exercises its option to extend the Term of this Lease, then the Base Rent payable during the Extended Term shall be increased as set forth in Section 4.1.

Section 1.4. Rent.   The "Rent" payable by the Tenant under this Lease shall consist of the Base Rent provided for in Section 4.1. hereof and the Additional Rent provided for in Section 4.2. hereof.

Section 1.5. Permitted Uses. Tenant may use the Premises for office, laboratory and related purposes (the "Permitted Uses”). In the event that Tenant desires to use the Premises for purposes other than Permitted Uses, Tenant shall obtain Landlord’s and Landlord's Mortgagee's (as "Landlord's Mortgagee" is hereinafter defined) prior written consent, which consent may not be unreasonably withheld, conditioned or delayed by Landlord or Landlord's Mortgagee.

Section 1.6. Delivery of Possession; Condition of Title. Tenant acknowledges and agrees that its affiliate is the owner or prior owner of the Premises and that Tenant, or affiliates, lessees or sublessees of Tenant have at all times been in possession and occupancy of the Premises and have full and complete knowledge of and responsibility for all current conditions of the Premises, including, without limitation, the physical condition of the Premises and the Property and title to the Premises and the Property. Accordingly, subject to Section 1.1. above, Landlord delivered actual and exclusive possession of the Premises to Tenant on the Commencement Date (as hereafter defined) in an "as is, where is" condition without representation or warranty.   Tenant acknowledges that Landlord's title to the Premises is subject to the matters of record as of the Commencement Date, each of which has been examined by and is acceptable to Tenant (the “Title Matters”). Furthermore, the Premises are leased to Tenant in an "as is, where is" condition without representation or warranty by Landlord, subject to the existing state of title and any state of facts which an accurate survey or physical inspection might reveal and to all applicable laws now or hereafter in effect. Tenant waives any claim or action against Landlord in respect of the condition of the Premises. LANDLORD MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN RESPECT OF THE PREMISES OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, SUITABILITY, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY TENANT. TENANT ACKNOWLEDGES THAT THE PREMISES HAS BEEN INSPECTED BY TENANT AND IS SATISFACTORY TO IT. LANDLORD HEREBY DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE RELATIVE TO THE PREMISES OR ANY COMPONENT PART THEREOF. Tenant acknowledges and agrees that no representations or warranties, express or implied, have been made by Landlord, or by any person, firm or agent acting or purporting to act on behalf of Landlord, as to (i) the presence or absence on or in the Premises of any particular materials or substances (including, without limitation, asbestos, hydrocarbons or hazardous or toxic substances), (ii) the condition or repair of the Premises or any portion thereof, (iii) the value, expense of operation or income potential of the Premises, (iv) the accuracy or completeness of any title, survey, structural reports, environmental audits or other information provided to Tenant by any third party contractor relative to the Premises (regardless of whether the same were retained or paid for by Landlord), or (v) any other fact or condition which has or might affect the Premises or the condition, repair, value, expense of operation or income potential thereof. Tenant represents that the officers of Tenant are knowledgeable and experienced in the leasing of properties comparable to the Premises and agrees that Tenant will be relying solely on Tenant's inspections of the Premises in leasing the Premises. THE PROVISIONS OF THIS 

 

			
	
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PARAGRAPH HAVE BEEN NEGOTIATED AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION BY LANDLORD OF, AND LANDLORD DOES HEREBY DISCLAIM, ANY AND ALL WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE PREMISES OR ANY PORTION THEREOF, WHETHER ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY OTHER LAW NOW OR HEREAFTER IN EFFECT OR OTHERWISE, AND TENANT HEREBY ACKNOWLEDGES AND ACCEPTS SUCH EXCLUSION, NEGATION AND DISCLAIMER.

ARTICLE II

COMMENCEMENT DATE; MORTGAGES

Section 2.1. Commencement Date. The "Commencement Date" of this Lease shall be March 17, 2016. Upon the Commencement Date, Tenant shall have the right to occupy the Premises and any part thereof, subject to the terms and conditions of this Lease.

Section 2.2. Right to Mortgage Premises. Landlord and Tenant acknowledge that, subject to Article XV of this Lease, Landlord shall have the right to and may, from time to time, encumber the Premises with a mortgage or deed of trust (a “Mortgage”) as security for a loan (a “Loan”) to Landlord or Landlord’s affiliates by a lender (which, together with its successors and assigns, and any future provider of Mortgage Debt (as defined herein), is referred to herein as the “Landlord’s Mortgagee”). As used herein, the term “Mortgage Debt” shall refer to the Loan from the Landlord's Mortgagee and any future loan or financing entered into by the Landlord.

ARTICLE III

USE AND QUIET ENJOYMENT OF PREMISES

Section 3.1. Use of Premises.   Tenant shall use the Premises solely for the Permitted Uses. No use shall be made or permitted to be made of the Premises, or acts done, that will cause a cancellation of any insurance policy covering the Premises, or any part thereof.

Section 3.2. Quiet Enjoyment. Landlord agrees that unless an Event of Default (as defined in Section 13.1. hereof) has occurred and is continuing, Tenant shall have quiet and peaceable possession of the Premises throughout the Term, without hindrance by Landlord or any persons claiming under Landlord, subject only to (i) this Lease, (ii) the lien of any Mortgage or other security device serving at any time a similar function upon or affecting the Premises and the Property, (iii) Landlord's right to show the Premises, without material interference with Tenant's use of the Premises, at any time to prospective purchasers and mortgagees of the Premises, and during the last nine (9) months of the Term, to prospective tenants of the Premises; and (iv) the Title Matters.

Section 3.3. Compliance with Applicable Laws. Tenant shall, at its sole cost and expense, comply with all applicable laws, ordinances, rules, regulations, directives and requirements (including those relating to environmental hazardous, toxic or regulated substances or materials whether or not such substances or materials existed on or in the Premises prior to the Commencement Date) relating to the Premises and/or Tenant's activities on or about the Premises, and with all orders of court and all other tribunals and governmental or quasi-governmental departments, agencies and authorities relating to the Premises and/or Tenant's activities on or about the Premises, and with all recorded covenants, conditions and restrictions relating to the Premises (including, but not limited to, the Title Matters) (hereinafter collectively referred to as "Legal Requirements").

Section 3.4. Nuisance and Waste Prohibited.   Tenant shall keep and maintain the Premises and abutting grounds, sidewalks, roads, parking and landscaped areas in good and neat order and repair and free of nuisance, and shall not commit or suffer to be committed any waste of the Premises.

 

			
	
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Section 3.5. Parking. Tenant, Tenant’s subtenants, and the employees, invitees, licensees, and agents of Tenant or Tenant’s subtenants shall have the exclusive right to use the parking areas of the Premises. Such parking areas shall be under Tenant’s sole control, subject to any applicable Legal Requirements.

Section 3.6. Signage. Tenant shall have the right to affix or remove or cause to be affixed or removed to the Premises such signage as Tenant, in its sole discretion, deems appropriate, provided that such signage shall comply with any applicable Legal Requirements.

ARTICLE IV

RENT

Section 4.1. Base Rent. Commencing upon the Commencement Date, Tenant shall pay to Landlord annual "Base Rent" in the amount of $697,708.00. If the Term begins on a date other than on the first (1st) day of the month, Base Rent for any such month shall be prorated on a daily basis (at the rate of 1/365th of the annual Base Rent) for each day the Term of this Lease is in effect for such month. During the Term (including any Extended Term), on April 1, 2017 and every anniversary thereafter (“Adjustment Date”), the annual Base Rent shall be increased by an amount equal to the lesser of (a) 2.0% of the Base Rent in effect immediately prior to the applicable Adjustment Date, or (b) 1.25 multiplied by the product of (i) the percentage change between the Price Index for the month which is two months prior to the Commencement Date or the Price Index used for the immediately preceding Adjustment Date, as applicable, and the Price Index for the month which is two months prior to the applicable Adjustment Date; and (ii) the then current Base Rent (the “Rental Adjustment”); provided, however, that in no event shall annual Base Rent be reduced as a result of the application of the Rental Adjustment. For purposes hereof, “Price Index” shall mean the Consumer Price Index which is designated for the applicable month of determination as the United States City Average for All Urban Consumers, All Items, Not Seasonally Adjusted, with a base period equaling 100 in 1982-1984, as published by the United States Department of Labor’s Bureau of Labor Statistics or any successor agency. In the event that the Price Index ceases to be published, its successor index measuring cost of living as published by the same governmental authority which published the Price Index shall be substituted and any necessary reasonable adjustments shall be made by Landlord and Tenant in order to carry out the intent of this Section. In the event there is no successor index measuring cost of living, Landlord shall reasonably select an alternative price index measuring cost of living that will constitute a reasonable substitute for the Price Index.

Section 4.2. Additional Rent. In addition to paying the Base Rent provided for in Section 4.1 hereof, to the extent not paid directly to third party vendors, Tenant shall pay to Landlord “Additional Rent” consisting of all operating expenses of any kind or nature with respect to the ownership, operation, management, maintenance and repair of the Premises and the Property.

Section 4.3. Payment of Rent. The Rent shall be paid by Tenant to Landlord by Automated Clearing House Debit initiated by Landlord from an account established by Tenant at a United States bank or other financial institution to such account as Landlord may designate. Upon execution of this Lease, Tenant shall deliver to Landlord a complete Authorization Agreement – Pre-Arranged Payments in the form of Exhibit B attached hereto and incorporated herein by this reference, together with a voided check for account verification, establishing arrangements for payments of the monthly Base Rent. Tenant shall continue to pay all Base Rent by Automated Clearing House Debit unless otherwise directed by Landlord. Tenant shall pay the Base Rent in advance on or before the first (1st) day of each month during the Term hereof. All Additional Rent shall be paid by Tenant when due or if payable to Landlord shall be payable within twenty (20) days after written demand therefor. All amounts to be paid to Landlord under this Lease shall be paid to Landlord at the address set forth in Section 17.8. hereof or at such other address as Landlord shall designate in writing from 

 

			
	
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time to time. Past due Rent payments shall accrue interest at an annual rate equal to the lesser of twelve percent (12%) or the highest rate allowed by applicable law ("Interest Rate"). Additionally, if Tenant fails to pay any Rent when due, Tenant shall automatically incur a late fee equal to the greater of $250.00 or two percent (2%) of the amount of the late payment. Notwithstanding the foregoing, no interest shall accrue, and no late fee shall be due, for the first two (2) late payments in any calendar year.

Section 4.4. Net Lease; Rent Absolute. This Lease is and shall be an absolutely net lease, and Landlord is not nor shall it be required to provide any services or do any act or thing with respect to the Premises except as specifically provided herein. All obligations of Tenant under this Lease for the payment of Rent and all other sums payable under the Lease and all obligations of Tenant to perform its obligations under this Lease shall constitute independent obligations of Tenant and shall be paid and performed by Tenant without abatement, deduction, counterclaim, recoupment, suspension, deferment, diminution, deduction, reduction, defense or setoff whatsoever and shall, to the extent not satisfied, survive the termination of this Lease. Except as otherwise expressly provided in this Lease, (i) this Lease shall not terminate, and Tenant shall not have any right to terminate this Lease, during the Term, and (ii) Tenant's obligation to pay the Rent and to perform its obligations is absolute and unconditional and shall survive and not be limited, abated or otherwise affected by any occurrence, event or circumstance whatsoever, including, without limitation, any of the following:   expiration or termination of this Lease for whatever reason, any partial or complete destruction from whatever cause; any constructive or actual eviction or dispossession of Tenant from the Premises for failure to pay Rent, or the failure or inability of the Tenant to use, occupy or enjoy the same; any foreclosure of any Mortgage Debt or other lien with respect to the Premises for failure to pay Rent; any sale of all or part of the Premises as long as the Lease remains in full force and effect; any bankruptcy or insolvency of Landlord; any action or non-action by Landlord or any other person. Tenant, after receiving advice from its counsel, knowingly, irrevocably, unconditionally and absolutely waives any rights, claims, and defenses that it now has or may have in the future (but for the effect of this Section) under or pursuant to any law, statute, judicial doctrine or regulation relating to its obligation to pay the Rent.

Section 4.5. First Month's Rent. Simultaneously with the execution and delivery of this Lease by Tenant to Landlord, Tenant shall pay to Landlord an amount equal to the first month's Base Rent. Landlord shall apply the first month's Base Rent to Tenant's Base Rent obligations on the Commencement Date.

Section 4.6. Adjustment of Rent. If this Lease terminates as to any portion of the Premises (i.e., less than the entirety of the Premises) for any reason, including without limitation, Article VIII or Article X of the Lease, during the Term of the Lease, then the Rent for the remaining portion of the Premises shall be adjusted as set forth in this Lease. Rent shall not be adjusted as a result of Tenant entering into one or more Permitted Subleases, and Tenant shall retain all rent, fees and other payments made to Tenant pursuant to such Permitted Subleases.

Section 4.7. Guaranty. On or before the execution of this Lease, Tenant shall cause Ron Ghafary (“Guarantor”) to execute and deliver to Landlord that certain Amended and Restated Unconditional Guaranty of Payment and Performance dated as of the date hereof given by Guarantor for the benefit of Landlord, as the same may be amended from time to time (the “Guaranty”).

ARTICLE V

TAXES AND ASSESSMENTS; UTILITIES

Section 5.1. Taxes and Assessments. Tenant shall pay directly to the appropriate governmental entities on or before the due date thereof, all taxes, levies, fees, assessments and other governmental charges of every kind and nature (including, without limitation, real property, ad valorem, personal property, gross 

 

			
	
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income, franchise, withholding, profits, rent, single business, value added, excise, occupancy, use, impact fees, sales and gross receipts taxes) (collectively, "Impositions") levied upon the Premises or personal property located at or used in connection with operating the Premises whether the same shall become due and payable before, or after, and during any tax assessment year or period which is within or partially within, the Term, including all Impositions which may be partially within the Term, including all Impositions which may be assessed, levied or imposed in replacement of, or in addition to, all or any part of same, whether or not measured, calculated by or based upon the Premises or any estate or interest in the Premises or the revenue or income generated by the Premises, regardless of the time at which, or period for which, such Impositions are assessed or charged or the time that such Impositions become a lien against the Premises. Impositions shall not include Landlord’s income taxes, excess profit taxes, franchise taxes, or similar taxes on Landlord’s business; provided, however, the foregoing exclusion shall not include any rental sales, leasing or similar taxes levied on or with respect to the Rent, or any part thereof, payable under the Lease in lieu of or in addition to general real and/or personal property taxes. Upon receipt of written request by Landlord or Landlord's Mortgagee, Tenant shall provide proof of payment of Impositions.

Section 5.2. Utilities. Tenant shall be responsible for the cost of all Utilities for the Premises, including, without limitation, electricity, gas, water and sewer, telephone and all other communication services. Tenant shall cause all such utility services to the Premises to be metered in its own name or in the name of its subtenants and shall pay or cause to be paid all charges and deposits for such utilities. Tenant shall use utilities only within the capacity of the circuits in the Premises. Landlord shall not be liable for damages resulting from utility interruptions caused by casualty, accident, labor dispute or any other cause, nor shall any interruptions be deemed an actual or constructive or partial eviction or result in any abatement of Rent.

Section 5.3. Other Charges. Tenant shall be responsible for all charges and/or taxes related to any easement or similar agreements, general and special assessments, condominium assessments and fees, levies, fees, vault charges, permits, inspection and license fees affecting the Premises.

ARTICLE VI

COVENANTS OF TENANT CONCERNING MAINTENANCE, INDEMNIFICATION AND OTHER MATTERS

Section 6.1. Maintenance. Tenant shall maintain, and make all repairs, alterations and replacements (including, without limitation, all ordinary, extraordinary, foreseen and unforeseen repairs, alterations and replacements) necessary to operate and maintain the entire Premises in good condition and repair and in compliance with all applicable laws, ordinances, rules and regulations and any recorded covenants, conditions or restrictions relating to the Premises, and shall surrender the Premises when required by this Lease in good condition, reasonable use and wear excepted, with all repairs and maintenance required under this Lease being complete. Notwithstanding anything to the contrary contained herein, Tenant shall make all determinations as to whether capital improvements or replacements are required in order to maintain the Premises in good order and repair, free from actual or constructive waste, in accordance with the standards and requirements set forth in this Lease.

Section 6.2. Alterations. Tenant shall not make any alterations, decorations, additions or improvements (collectively “Alterations”) of a structural nature in or to the Premises or any Alterations to the exterior of the Premises without the prior written consent of Landlord in each instance, which consent may be withheld in Landlord’s reasonable discretion.   The term “Alterations” shall not include by way of example and not limitation: (1) painting or wallpapering interior walls of the Premises; (2) hanging pictures and other decorations in a reasonable manner in reasonable locations within the Premises; or (3) installing movable personal property such as oriental carpets, plants and the like. All Alterations to the Premises, or any part 

 

			
	
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thereof, shall be made in a good and workmanlike manner and in compliance with applicable laws, ordinances, rules, regulations, codes and requirements and any recorded covenants, conditions or restrictions relating to the Premises, or any part thereof. All Alterations which are not movable trade fixtures shall be the property of Landlord and shall remain upon and be surrendered with the Premises. To the extent any Alterations will involve changes to the structure or systems of the Premises, or require a building permit, Tenant shall furnish to Landlord, prior to the commencement of construction, the proposed plans and specifications for Landlord's approval and upon completion of construction, "as-built" plans and specifications for such Alterations. Landlord shall provide Tenant with its objections, in writing, to Tenant's proposed plans and specifications within fifteen (15) business days after receipt from Tenant. Tenant shall submit revised plans and specifications until such time as Landlord has approved Tenant's proposed plans and specifications for such Alterations. If Landlord fails to object, in writing, to Tenant's proposed plans and specifications within fifteen (15) business days after receipt from Tenant, Landlord shall be deemed to have approved such proposed plans and specifications. Notwithstanding the foregoing, Tenant shall have the right, but not the obligation, to remove all Alterations from the Premises at the end of the Term; provided, however, should Tenant remove any such Alterations from the Premises, Tenant shall repair any and all damage to the Premises caused by such removal.

Section 6.3. Landlord's Non-liability; Indemnification of Landlord.   Landlord shall not be liable for any loss, damage or injury of any kind or character to any person or property, arising from any use of the Premises, or any part thereof, or caused by any defect in any improvements located on the Premises, or any part thereof, or in any equipment or other facility therein, or caused by or arising from any act or omission of Tenant, or of any subtenants, agents, employees, contractors, subcontractors, licensees, or invitees of Tenant, or arising out of any work or Alterations performed by Tenant or any subtenant, or by or from any accident on the Premises, or any part thereof, or any fire or other casualty thereon, or occasioned by the failure of Tenant to maintain the Premises, or any part thereof, in safe condition, or arising from any other cause whatsoever. Tenant, as a material part of the consideration of this Lease, hereby waives on its behalf all claims and demands against Landlord for any such loss, damage or injury of Tenant, and hereby agrees to indemnify and hold Landlord entirely free and harmless from all liability for any such loss, damage or injury of Tenant, and hereby agrees to indemnify and hold Landlord entirely free and harmless from all liability for any such loss, damage or injury of all other persons, and from all costs and expenses arising therefrom (including reasonable attorneys' fees and expenses). Tenant agrees to pay, and to protect, indemnify, and save harmless Landlord from and against any and all liabilities, losses, damages, costs, expenses (including reasonable attorneys' fees and expenses), causes of action, suits, claims, demands, or judgments of any nature whatsoever arising from

(i)any injury to or the death of, any person, or damage to property, in, on or about the Premises, or any part thereof, or upon adjoining public sidewalks, streets, or ways, or in any manner growing out of or connected with the use, nonuse, condition, or occupation of the Premises, or any part thereof, or resulting from the condition thereof or of adjoining public sidewalks, streets or ways, except to the extent caused by any negligent act or omission by Landlord; (ii) violation by Tenant of any agreement or condition of this Lease; (iii) violation by Tenant of any contract or agreement to which Tenant is a party or of any restriction, statute, law, ordinance, or regulation, in each case affecting the Premises, or any part thereof, or the ownership, occupancy or use thereof; and (iv) (1) the presence of any "Hazardous Material" (as defined below) on or under, or the escape, seepage, leakage, spillage, discharge, emission, discharging or release of any Hazardous Material from, the Premises or any part thereof, (2) any liens against the Premises, or any part thereof, permitted or imposed by any Environmental Laws (as defined below), or any actual or asserted liability or obligations of Landlord or any of its affiliates or subsidiaries under any Environmental Laws, and (3) any actual or asserted liability or obligations of Tenant or any of its affiliates or subsidiaries under any Environmental Laws. Tenant hereby acknowledges and agrees that Tenant, or affiliates of Tenant, were the prior owners of the Premises.   Tenant further agrees that the terms and conditions of this Section 6.3. shall 

 

			
	
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apply to any and all matters notwithstanding that such matters may have occurred or arisen prior to the date of this Lease or during the term of this Lease. Landlord, as used in this Section 6.3 shall include any beneficiary of any trust or any agent, employee, or representative of Landlord or any trustee and the Landlord's Mortgagee and their shareholders, directors, officers, employees, agents, representatives, members and partners. Any indemnification under this Section 6.3. shall constitute Additional Rent payable within twenty (20) days of demand and shall survive the termination or expiration of this Lease, including without limitation, the termination or rejection of this Lease in bankruptcy.

For purposes of this Lease,  the following terms shall have the following respective meanings:

(i)"Hazardous Material" means any hazardous substance or any pollutant or contaminant defined as such in (or for purposes of) the Comprehensive Environmental Response, Compensation, and Liability Act, any so-called "Superfund" or "Superlien" law, The Toxic Substances Control Act, or any other federal, state or local statute, law, ordinance, code, rule, regulation, order or decree, now or hereafter in force, regulating, relating to or imposing liability or standards of conduct concerning any hazardous, toxic or dangerous waste, substance or material; asbestos or any substance or compound containing asbestos; polychlorinated biphenyls or any substance or compound containing any polychlorinated biphenyl; petroleum and petroleum products; pesticides; and any other hazardous, toxic or dangerous waste, substance or material.

(ii)"Environmental Laws" means the Comprehensive Environmental Response, Compensation, and Liability Act, any so-called "Superfund" or "Superlien" law, the Toxic Substances Control Act, or any other federal, state or local statute, law, ordinance, code, rule, regulation, order or decree, now or hereafter in force, regulating, relating to, or imposing liability or standards of conduct concerning any Hazardous Material.

Section 6.4. No Liens. Tenant shall not create or suffer to be created or to remain, directly or indirectly, and will discharge or promptly cause to be discharged, any lien, charge or encumbrance on, or pledge of, all or any part of the Premises (each an "Encumbrance"), including, without limitation, any mechanic's, materialmen's, contractor's or subcontractor's liens arising from or any claim for damage growing out of any Alterations, construction, repair, restoration, replacement or improvement related to the Premises. If Tenant fails to remove or bond over any such Encumbrance within twenty (20) days after written notice thereof from Landlord, Landlord may, but shall not be obligated to, discharge the same either by paying the amount claimed to be due or otherwise, without any investigation or contest of the validity thereof, and any amounts expended by Landlord in so doing, including costs, expenses and reasonable attorneys' fees, shall constitute Additional Rent payable within twenty (20) days of demand and shall survive the termination of this Lease.

ARTICLE VII

RIGHT TO CONTEST

Landlord shall have the right to contest all Impositions at Landlord’s sole cost and expense. Landlord shall give notice to Tenant of Landlord’s contest to any Impositions. Landlord agrees that each such contest shall be promptly prosecuted to its final conclusion, except to the extent deemed commercially unreasonable by Landlord, in Landlord’s sole discretion. Landlord shall give notice to Tenant of any increases in Impositions. In the event Landlord elects not to contest any Impositions, then Tenant shall have the right to contest such Impositions upon written notice to Landlord. Landlord and Tenant agree that each such contest shall be promptly prosecuted to a final conclusion. If necessary in the prosecution of any such contest by Landlord or Tenant, the non-prosecuting party shall join as a party to such contest, and the prosecuting party shall pay, and save the non-prosecuting party, or the non- prosecuting party’s mortgagee, if any, harmless 

 

			
	
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against, any and all losses, judgments, decrease and costs (including reasonable attorneys' fees and expenses) in connection with any such contest and shall, promptly after the final settlement, compromise, or determination of such contest, fully pay and discharge the amounts that shall be levied, assessed, charged or imposed or be determined to be payable therein or in connection therewith, and perform all acts, the performance of which shall be ordered or decreed as a result thereof. No such contest by Tenant shall subject Landlord to the risk of any civil or criminal liability.

ARTICLE VIII

DAMAGE OR DESTRUCTION BY FIRE OR OTHER CASUALTY

If, during the Term, the Premises, or the Property comprising part of the Premises, is partially or totally damaged or destroyed by fire or other casualty, Tenant shall, at its sole cost and expense, repair and restore the Premises and/or the Property, as applicable, as speedily as possible, to the value, character and condition existing prior to such damage or destruction in accordance with the provisions of this Lease applicable to maintenance and repair, alterations and restoration, regardless of whether Tenant receives sufficient insurance proceeds, subject to the provisions below. Where insurance proceeds are available, Tenant shall not be obligated to begin to repair and restore the Property until such time as such insurance proceeds have been made available to Tenant; provided, however, that Tenant shall take reasonable steps to ensure that the affected Property is secure and does not pose unreasonable risk of harm to adjoining property and/or persons. Upon the written request of Tenant (accompanied by evidence reasonably

satisfactory to Landlord that such amount has been paid or is due and payable and is properly part of such costs), Landlord shall promptly make available in installments, an amount up to but not exceeding the amount of any insurance proceeds received by Landlord with respect to such casualty. Landlord shall use commercially reasonable efforts in good faith to cause insurance proceeds to be made available to Tenant by Landlord or Landlord’s Mortgagee for purposes of such repair and restoration. Provided that Landlord has received evidence reasonably satisfactory to Landlord that the Premises and Property have been restored and repaired to at least the value, character and condition existing prior to such damage or destruction, then Tenant shall be entitled to keep any portion of the insurance proceeds which may be in excess of the cost of restoration. Tenant shall bear all additional costs of such restoration in excess of the insurance proceeds. There shall be no abatement or reduction of any Rent under this Lease due to any such damage, destruction or repair or restoration and Tenant shall have no right to terminate this Lease. Notwithstanding anything to the contrary contained herein, if the Property comprising the Premises is totally destroyed by fire or other casualty, or, as to a material portion of the Property, is partially destroyed by fire or other casualty and the time to restore the Property is reasonably estimated to take longer than one hundred eighty (180) days, and fewer than two (2) years remain in the Term at the time of the casualty, then Tenant shall have the right to cancel and terminate this Lease upon written notice to Landlord, provided within 60 days of the date of the casualty, in which case Landlord shall be entitled to such insurance proceeds. Upon Tenant’s notice to Landlord of Tenant’s election to terminate this Lease, the Lease shall automatically terminate, and the Term hereof shall come to an end with the same force and effect as if the Term of the Lease, by the terms and provisions hereof, were to expire on such date.

ARTICLE IX

INSURANCE AND WAIVER OF SUBROGATION

Section 9.1. Property Insurance. Tenant shall, at Tenant's cost and expense, insure the Premises against loss or damage normally covered under commercial property insurance policies (including rent loss and/or business interruption) and otherwise with such coverages, deductibles (not to exceed $25,000.00), sub-

 

			
	
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limits, and exclusions as are typical for owners of real estate similar to the Premises from time to time and/or as are required by applicable law. Such insurance shall be for the full insurable value (actual replacement value without deduction for physical deterioration) of the Premises, shall name Landlord as an additional insured, Landlord's Mortgagee as first mortgagee/secured party, and Tenant, Landlord and Landlord's Mortgagee as loss payees, and shall provide that the insurer shall endeavor to provide at least thirty (30) days' prior written notice of cancelation or change of the insurance policy to Landlord, Tenant and the Landlord’s Mortgagee. Tenant shall, from time to time and upon the written request of Landlord or the Landlord’s Mortgagee, furnish the requesting party with certificates of insurance demonstrating that such insurance is in full force and effect. Landlord shall use commercially reasonable efforts in good faith to cause Landlord’s Mortgagee to make insurance proceeds available to Tenant for purposes of such repair and restoration of the Premises (and the Property comprising part of the Premises), as provided in Article VIII above.

Section 9.2. Liability and Other Insurance. Tenant shall, at Tenant's cost and expense, obtain and keep in force a policy or policies of commercial general liability insurance covering the Premises and any losses or claims arising in whole or in part from the use of the Premises, naming Landlord and Landlord’s Mortgagee as additional insureds, which as of the Commencement Date shall be with minimum single limit of coverage for any one occurrence of not less than $1,000,000 with an aggregate of not less than $2,000,000 and an excess liability policy of not less than $5,000,000 on a per location basis. Tenant's liability insurance shall provide that it is primary coverage and not excess over or contributory with any other insurance coverage (including any other insurance maintained by Landlord or Tenant). All such insurance shall provide that the insurer shall endeavor to provide at least thirty (30) days' prior written notice of cancelation or change of the insurance policy to Landlord, Tenant and the Landlord’s Mortgagee. Tenant shall from time to time upon the written request of the Landlord (or Landlord’s Mortgagee) furnish to the requesting party certificates of insurance demonstrating that all such insurance is in full force and effect. Tenant shall not maintain deductibles in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00) without Landlord’s prior consent, which shall not be unreasonably withheld, conditioned or delayed.

 

			
	
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Section 9.3. Additional Insurance. Tenant shall, at Tenant's cost and expense, obtain and keep in force a policy or policies of the following insurance covering the Premises:

(i)If the Premises, or any part thereof, is located within a one hundred (100) year flood plain area designated by Federal Emergency Management Agency, federal flood and excess flood, in such amounts as may be customary for comparable properties in the area and if available from insurance companies authorized to do business in the state in which the Premises are located at rates which are economically practicable in relation to the risks covered.

(ii)If Tenant shall engage or cause to be engaged any contractor to perform work any Alterations in, on or about the Premises, the estimated cost of which will exceed $250,000.00, Tenant shall require such contractor to carry and maintain, at no expense to Landlord, commercial general liability insurance, builder's risk insurance, including but not limited to contractor's liability coverage, completed operations coverage, broad form property damage endorsement, workers compensation, and contractor's protection liability coverage in such amounts and with such deductibles and such companies as are customary for the Alterations to be performed. Upon Landlord or Landlord's Mortgagee's written request, Tenant shall provide evidence of that such insurance is in full force and effect.

(iii)Rental loss insurance in an amount equal to at least twelve (12) months’ Base Rent.  Landlord shall be named additional insured on such policy.

(iv)Comprehensive Boiler and Machinery or Equipment Breakdown Insurance against loss or damage from explosion of any steam or pressure boilers or similar apparatus, if any, and other building equipment including HVAC units located in or about the Premises and in an amount equal to the lesser of 25% of the 100% replacement cost of the Premises or $5,000,000.00.

(v)Automobile liability insurance, including owned, non-owned and hired car liability insurance for combined limits of liability of $5,000,000.00 per occurrence. The limits of liability can be provided in a combination of an automobile liability policy and an umbrella liability policy.

(vi)Workers’ compensation and Employers Liability insurance with statutorily mandated limits covering all persons employed by Tenant on the Premises in connection with any work done on or about the Premises for which claims for death or bodily injury could be asserted against Landlord, Tenant or the Premises.

Section 9.4. Waiver of Subrogation. Any insurance maintained by either Landlord or Tenant shall provide that, to the extent permitted by law, the insurer waives all rights of subrogation against the Landlord, Tenant, as applicable, and their agents or employees, with respect to losses payable under the policy.

Section 9.5.Insurance Company Rating Requirements. All policies of insurance required under this Lease shall be placed with insurance companies having claims paying ratings no lower than A.M. Best "A-" or equivalent NAIC rating, from time to time.

ARTICLE X

EMINENT DOMAIN

Section 10.1. Total Condemnation. If all or substantially all of the Premises is taken under the power of eminent domain by, or conveyed in lieu of such exercise to, any public authority, including a permanent taking of such a substantial part of the Premises resulting in the portion of the Premises remaining after such condemnation being unsuitable for the Permitted Use, as determined by Tenant in the exercise of good faith 

 

			
	
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File No.: 7210/02-432.1
	
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business judgment (and Tenant provides to Landlord an officer’s certificate executed by an officer of Landlord certifying to the same) (a “Total Condemnation”) then Tenant’s obligations under this Lease shall terminate as of the date upon which title to the Premises shall become vested in the condemning authority, all condemnation proceeds, awards and damages payable for any condemnation of the Premises (the “Award”) shall belong to Landlord, and the Lease shall automatically terminate, and the Term hereof shall come to an end with the same force and effect as if the Term of the Lease, by the terms and provisions hereof, were to expire on such date.

Section 10.2. Partial Condemnation. In the event of a taking which is not a Total Condemnation (a “Partial Condemnation”), Tenant’s obligations as to the Premises shall not terminate, Rent shall not abate or be reduced, and Tenant shall, at its sole cost and expense but subject to the proceeds made available to Tenant as a result of such Partial Condemnation, restore the balance of the Premises to the same condition, as nearly as practicable, as prior to such Partial Condemnation, under the provisions of this Lease. The Award resulting from such taking or conveyance shall be payable to Landlord. Landlord shall use commercially reasonable efforts in good faith to cause such proceeds to be made available to Tenant for such purpose. Upon the written request of Tenant (accompanied by evidence reasonably satisfactory to Landlord that such amount has been paid or is due and payable and is properly part of such costs), Landlord shall promptly make available in installments, an amount up to but not exceeding the amount of any Award received by Landlord with respect to such Partial Condemnation. Landlord shall be entitled to keep any portion of the Award which may be in excess of the cost of restoration, and Tenant shall bear all additional costs of such restoration in excess of the Award. Notwithstanding anything to the contrary contained herein, if fewer than two (2) years remain in the Term at the time of the Partial Condemnation, then Tenant shall have the right to cancel and terminate this Lease upon written notice to Landlord, provided within 60 days of the date of the Partial Condemnation, in which case Landlord shall be entitled to such condemnation proceeds. Upon Tenant’s notice to Landlord of Tenant’s election to terminate this Lease, the Lease shall automatically terminate, and the Term hereof shall come to an end with the same force and effect as if the Term of the Lease, by the terms and provisions hereof, were to expire on such date.

ARTICLE XI

ASSIGNMENT AND SUBLETTING

Section 11.1 Assignment and Sublease upon Landlord Approval. Tenant shall not assign, mortgage or otherwise encumber this Lease or sublet the whole or any part of the Premises, whether voluntarily or by operation of law (collectively, “Assignments”), or permit the use or occupancy of the Premises by anyone other than Tenant or for any use other than the use described in Section 1.5 hereof, without the prior written consent of Landlord, which consent may not be unreasonably withheld, conditioned or delayed. The consent by Landlord to any Assignment, or Landlord’s collection or acceptance of Rent from any such assignee, subtenant or other occupant (collectively “Assignee”), shall not constitute a waiver or release of Tenant of any covenant or obligation contained in this Lease or approval of any Assignment that has not been approved by Landlord in writing. Consent by Landlord in one or more instances to any Assignment shall not be construed to relieve Tenant from the requirement of obtaining Landlord’s consent to any future Assignment. If Tenant desires to enter into an Assignment, Tenant shall give Landlord written notice at least thirty (30) days in advance of the date on which the Assignment is to take effect, such notice to include the terms and conditions of the proposed Assignment, financial information on the proposed Assignee and other information as Landlord may reasonably request relating to the proposed Assignment and Assignee. If Landlord fails to consent within ten (10) business days after receipt of Tenant’s written request and all such other information required to be submitted to Landlord with such request, Tenant shall send Landlord written notice of such failure, which notice shall include, in all capital letters, the following: “THIS SHALL SERVE AS A SECOND NOTICE OF TENANT’S REQUEST FOR LANDLORD’S CONSENT TO A PROPOSED 

 

			
	
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ASSIGNMENT OF THE LEASE. FAILURE TO RESPOND WITHIN TEN (10) BUSINESS DAYS SHALL BE CONCLUSIVELY DEEMED LANDLORD’S APPROVAL OF SUCH REQUEST.” If Landlord does not respond within ten (10) business days after receipt of such notice, Landlord shall be deemed to have consented to Tenant’s request for such Assignment.

In the event of any Assignment permitted under the terms of this Article XI, then: (i) Tenant, and any subsequent assignee who in turn enters into an Assignment, shall each remain fully and primarily liable for all of the obligations of Tenant under this Lease (regardless of any subsequent amendment or modification of this Lease and regardless of any further Assignments, all of which are hereby deemed to be consented to by Tenant and subsequent Assignees); (ii) the Premises shall only be used or occupied for the use described in Section 1.5 hereof; (iii) each assignee must agree in writing to assume the obligations of Tenant under this Lease by agreement satisfactory to Landlord and delivered to Landlord on or before the date that the Lease assignment is effective.

Section 11.2 Permitted Sublease. Notwithstanding anything to the contrary contained herein, Tenant may sublet the Premises, in whole or in part, without Landlord’s consent (“Permitted Subleases”) provided that, at all times: (i) the sublease is expressly subject and subordinate to this Lease;

(ii) Tenant shall remain primarily liable for all of Tenant's obligations under this Lease; (iii) the sublease shall not contain any terms inconsistent with this Lease (or if so, the terms of this Lease shall control);

(iv) the rent due under any Permitted Sublease shall be fixed rent and shall not be based on the net profits of any subtenant; (v) Tenant shall promptly provide Landlord with any notice of default received by Tenant from any subtenant or any notice of default sent by Tenant to any subtenant and Tenant shall furnish Landlord with any and all information requested by Landlord reasonably necessary for a determination of the status of any sublease; and (vi) unless otherwise mutually agreed upon by Landlord and the related subtenant, the Permitted Sublease shall terminate upon the expiration or sooner termination of this Lease (including any renewals hereof), provided that the related subtenant agrees to attorn to Landlord if Landlord elects to assume the Permitted Sublease following a termination of this Lease. Tenant agrees to promptly notify Landlord in writing of all Permitted Subleases the Tenant enters into under this Lease. Landlord may accept Rent, Additional Rent, and any other sums that may become due under this Lease directly from any subtenant as agent for Tenant, provided that Landlord shall apply any sums so accepted as a credit towards Rent owed by Tenant. Tenant shall obtain Landlord’s prior written approval for any other subleases, which approval may not be unreasonably withheld, conditioned or delayed.

Section 11.3 Intentionally omitted.

Section 11.4 Permitted Assignment.   Notwithstanding anything to the contrary contained in this Article XI and provided that no Event of Default has occurred and is continuing at the time of the proposed assignment or other transfer, and provided further that any assignee agrees to assume all of Tenant’s obligations under this Lease, Tenant shall have the right to assign or otherwise transfer all, but not less than all, of its interest in, to and under this Lease without Landlord’s consent to (i) an Affiliate of Tenant, (ii) any entity which purchases or otherwise acquires all or substantially all of the assets or equity interest of Tenant in a bona fide sale for fair market value, or (iii) a Qualified Operator (each, a “Permitted Transfer”). A “Qualified Operator” shall mean an individual, partnership, corporation, limited liability company, trust, unincorporated organization, governmental authority or any other form of entity (a “Person”) who, following the consummation of the assignment contemplated herein, for two (2) consecutive years immediately prior to the date of assignment or transfer, (A) has a CFCCR (defined below) of at least 2.0x; (B) generates EBITDAR (defined below) of at least $10,000,000, and (C) has an Effective Debt to EBITDAR ratio no greater than 4.0x; provided, however, that Tenant may satisfy the foregoing conditions of a Qualified Operator by providing, or 

 

			
	
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causing to be provided, a guaranty agreement, in form and substance reasonably acceptable to and approved by Landlord, in writing, which guaranty shall be from an entity that meets the requirements of (A), (B) and (C) set forth in this Section

11.04. In the event that Tenant effects a Permitted Transfer pursuant to clause (iii), Tenant shall be released from any liability arising under this Lease from and after the date of such assignment. In the event that Tenant effects a Permitted Transfer pursuant to clauses (i) or (ii), Lessee shall not be released from liability under this Lease.

For purposes hereof:

“CFCCR” means with respect to the twelve month period of time immediately preceding the date of determination, the ratio calculated for such period of time, each as determined in accordance with GAAP, of (i) the sum of Consolidated Net Income (excluding non-cash income), Depreciation and Amortization, Interest Expense, income taxes, Operating Lease Expense and non-cash expenses to (ii) the sum of Operating Lease Expense (excluding non-cash rent adjustments), scheduled principal payments of long term Debt, scheduled maturities of all Capital Leases, dividends and Interest Expense (excluding non-cash interest expense and amortization of non-cash financing expenses). For purposes of calculating the CFCCR, the following terms shall be defined as set forth below:

“Capital Lease” shall mean all leases of any property, whether real, personal or mixed, by a Person, which leases would, in conformity with GAAP, be required to be accounted for as a capital lease on the balance sheet of such Person. The term “Capital Lease” shall not include any operating lease.

“Consolidated Net Income” shall mean with respect to the period of determination, the net income or net loss of a Person. In determining the amount of Consolidated Net Income, (i) adjustments shall be made for nonrecurring gains and losses or non-cash items allocable to the period of determination, (ii) deductions shall be made for, among other things, Depreciation and Amortization, Interest Expense, Operating Lease Expense, and (iii) no deductions shall be made for income taxes or charges equivalent to income taxes allocable to the period of determination, as determined in accordance with GAAP.

“Debt” shall mean with respect to a Person, and for the period of determination (i) indebtedness for borrowed money, (ii) subject to the limitation set forth in sub item (iv) below, obligations evidenced by bonds, indentures, notes or similar instruments, (iii) obligations under leases which should be, in accordance with GAAP, recorded as Capital Leases, and (iv) obligations under direct or indirect guarantees in respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire, or otherwise to assure a creditor against loss in respect of, indebtedness or obligations of others of the kinds referred to in clauses (i) through (iv) above, except for guaranty obligations of such Person, which, in conformity with GAAP, are not included on the balance sheet of such Person.

“Depreciation and Amortization” shall mean the depreciation and amortization accruing during any period of determination with respect to a Person, as determined in accordance with GAAP.

“Interest Expense” shall mean for any period of determination, the sum of all interest accrued or which should be accrued in respect of all Debt of a Person, as determined in accordance with GAAP.

“Operating Lease Expense” shall mean the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

“EBITDA” means for the twelve (12) month period ending on the date of determination, the sum of a Person’s net income (loss) for such period plus, in each case to the extent previously deducted in calculating 

 

			
	
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net income (loss): (i) income taxes, (ii) interest payments on all of its debt obligations (including any borrowings under short term credit facilities), (iii) all non-cash charges including depreciation and amortization, and (iv) Non-Recurring Items (defined below).

“EBITDAR” means the sum of a Person’s EBITDA and its total land and building rent for the twelve (12) month period ending on the date of determination.

“Effective Debt” shall mean, for the period of determination, the sum of (i) the Person’s Debt and

(ii) eight (8) multiplied by the annual rental payments due under leases which should not be, in accordance with GAAP, recorded as Capital Leases.

“Lease Adjusted Leverage” means with respect to a Person, as of any applicable date, the sum of

(i)ten (10) times such Person’s total land and building rent for the twelve (12) month period ending on the date of determination, and (ii) the total current balance of such Person’s total debt obligations (including any borrowings under short term credit facilities) on such date, divided by EBITDAR.

“Non-Recurring Items” shall mean with respect to a Person, items of the sum (whether positive or negative) of revenue minus expenses that, in the judgment of Landlord, are unusual in nature, occur infrequently and are not representative of the ongoing or future earnings or expenses of such Person.

ARTICLE XII

END OF TERM

Tenant shall surrender actual and exclusive possession of the entirety of the Premises to Landlord at the end of the Term, in good condition with all maintenance and repairs required under Section 6.1 complete, and otherwise in compliance with this Lease, subject only to such subleases, tenancies and occupancies permitted to remain in effect beyond the expiration of the Term. Additionally, upon request by Landlord at least sixty (60) days prior to the end of the Term, on or before the expiration date of the Term, Tenant shall remove the laboratory space improvements and repair any damage caused by such removal.

ARTICLE XIII

EVENTS OF DEFAULT; LANDLORD’S REMEDIES; EXPENSES OF ENFORCEMENT

Section 13.1. Events of Default. The occurrence of any one or more of the following shall constitute an “Event of Default” under this Lease:

(i)Tenant shall fail to pay when due any Rent or other amount owed to Landlord under this Lease, and such failure shall continue for a period of five (5) days from the date such payment was due; provided, however, in any given twelve (12) month period (the “Period”), Tenant shall be entitled to written notice from Landlord for the first occasion in such Period that Tenant has not paid the foregoing amounts when due, and Tenant shall not be in default hereunder until five (5) days after such written notice has been given by Landlord; and further provided, Landlord shall not be obligated to give more than one (1) such written notice in any Period, and any failure by Tenant to pay the foregoing amounts within five (5) days after the same are due in any Period after Landlord has given Tenant one (1) previous written notice shall be considered an Event of Default; or

(ii)Tenant shall fail to perform any other covenant or agreement in this Lease or the Title Matters and such failure shall continue for a period of thirty (30) days after receipt of written notice from 

 

			
	
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Landlord (or if such failure is not capable of being cured within thirty (30) days, provided that Tenant has commenced such cure within the thirty (30) day period and is diligently proceeding to cure such failure), or if any such failure involves a hazardous condition or a failure to maintain insurance required by the Lease, such failure is not cured by Tenant promptly upon notice to Tenant; or

(iii)Tenant or Guarantor shall make a general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts as they become due, or shall file or have filed against it a petition in any proceeding seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation or seeking appointment of a receiver, trustee, custodian or other similar official for it or for all or any substantial part of its property, and such proceeding shall not be vacated or discharged within thirty (30) days, or shall be adjudicated insolvent or bankrupt, or a receiver, trustee, custodian or other similar official shall be appointed for Tenant or for all or any substantial part of its property, or a substantial part of its property shall be attached, executed upon or otherwise impressed with a lien in favor of one or more creditors, and such appointment, attachment, execution or lien shall not be vacated or discharged within thirty (30) days; or

(iv)Tenant dissolves or liquidates; or

(v)There is an Event of Default or other breach under the Guaranty continuing beyond the passage of all applicable notice and cure or grace periods; or

(vi)Prior to any expiration of the Letter of Credit (defined below), Tenant shall fail to provide to Landlord evidence satisfactory to Landlord in its sole discretion that either (i) the Letter of Credit will be renewed by Tenant’s Lender (defined below) upon the same terms and conditions, or (ii) Landlord’s first position lien on Tenant’s Personalty set forth in Section 15.7 of this Lease shall be restored such that Landlord’s first position lien is no longer subordinate to Tenant’s Lender or any other parties.

Section 13.2. Termination of Lease; Reletting. Upon the occurrence of any Event of Default, in addition to any other remedies provided by law, Landlord may terminate this Lease, or Landlord may, without terminating this Lease, re-enter the Premises or any property comprising part of the Premises and dispossess Tenant and remove Tenant’s effects and relet the portion of the Premises occupied by Tenant for the account of Tenant for such rent and on such terms as shall be satisfactory to Landlord, crediting the actual proceeds of reletting (after deducting the costs and expenses of re- entry, alterations and additions and the expense of reletting) to the unpaid amounts due under this Lease during the remainder of the Term and Tenant shall remain liable to Landlord for the balance owed. Tenant shall not be entitled to any rents received by Landlord which exceed the balance owed by Tenant to Landlord calculated as provided in the immediately preceding sentence. Landlord shall use reasonable efforts to relet the Premises or any part thereof for such Rent and upon such terms as Landlord shall reasonably determine (including the right to relet the Premises for a greater or lesser Term than that remaining under this Lease, the right to relet the Premises as a part of a larger area, and the right to change the character or use made of the Premises) and Landlord shall not be required to accept any tenant offered by Tenant, to observe any instructions given by Tenant about such reletting, to lease the Premises prior to other vacant space owned, controlled or managed by Landlord or an affiliate of Landlord, to expend sums to lease the Premises, or to lease the Premises at below market rates. In any such case, Landlord may make repairs, alterations and additions in or to the Leased Premises, and redecorate the same to the extent Landlord deems necessary or desirable, and Tenant shall, upon demand, pay the cost thereof, together with Landlord's expenses of reletting including, without limitation, any broker's commission incurred by Landlord. If the consideration collected by Landlord upon any such reletting plus any sums previously collected from Tenant are not sufficient to pay the full amount of all Rent, including any amounts treated as Additional Rent hereunder and other sums reserved in this Lease for the remaining Term hereof, together with the costs of repairs, alterations, additions, redecorating, and Landlord's expenses of reletting and the collection of the Rent 

 

			
	
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accruing therefrom (including attorneys' fees and brokers' commissions), Tenant shall pay to Landlord the amount of such deficiency upon demand and Tenant agrees that Landlord may file suit to recover any sums falling due under this Paragraph from time to time on one or more occasions, without the necessity of Landlord's waiting until expiration of the Term

Section 13.3. Termination of Lease; Money Judgment. Upon termination of this Lease as a result of the occurrence of an Event of Default, Landlord shall be entitled as final and liquidated damages to a money judgment against Tenant in the amount of the aggregate of the following: (i) all unpaid Rent due on or before the date of termination, together with interest thereon at the Interest Rate; (ii) the excess, if any, of all Rent which would have become due on or before the date of the judgment but for the termination over the fair market rental value of the Premises for such period, taking into account a reasonable vacancy and lease up factor, together with interest thereon at the Interest Rate; and (iii) the excess, if any, of all Rent which would come due after the date of the judgment but for the termination of this Lease over the fair rental value of the Premises for such period, taking into account a reasonable vacancy rate and lease up factor, discounted to present value using as a discount factor the discount rate of the Federal Reserve Bank of Chicago in effect at the time of judgment.

Section 13.4. Expenses of Enforcement. If, at any time during the Term of this Lease, either Landlord or Tenant shall institute any action or proceeding against the other which is related to or arises out of the provisions of this Lease or any default hereunder, then the non-prevailing party shall pay the reasonable costs and expenses of the prevailing party, including, without limitation, reasonable attorneys' fees and expenses.

Section 13.5. Landlord's Right to Cure. Landlord may assign its rights under this Section to the Landlord’s Mortgagee. If Tenant shall fail to make any payment, or to perform any act required to be made or performed under this Lease and to timely cure the same, Landlord, without waiving or releasing any obligation or Event of Default, may (but shall be under no obligation to) at any time thereafter make such payment or perform such act for the account and at the expense of Tenant, and may, to the extent permitted by law, enter upon the Premises (or the Property comprising the Premises) for such purpose and take all such action thereon as, in Landlord's opinion, may be necessary or appropriate therefore, and no such entry shall be deemed an eviction of Tenant. Tenant shall immediately repay the same to Landlord, upon demand, together with all costs and expenses so incurred, together with a late charge thereon, all to the extent permitted by law, at the Overdue Rate from the date on which such sums or expenses are paid or incurred by Landlord. The obligations of Tenant and rights of Landlord contained in this Article shall survive the expiration or earlier termination of this Lease.

Section 13.6. Bankruptcy of Tenant.

(a)In the event that Tenant shall become a debtor in a case filed under Chapter 7 of the Bankruptcy Code and Tenant's trustee or Tenant shall elect to assume this Lease for the purpose of assigning the same or otherwise, such election and assignment may be made only if the provisions of Section 13.6.(b) and Section 13.6.(c) are satisfied as if the election to assume were made in a case filed under Chapter 11 under Title 11 of the United States Code (the “Bankruptcy Code”).

(b)(i)       In the event that Tenant shall become a debtor in a case filed under Chapter 11 of the Bankruptcy Code, or in a case filed under Chapter 7 of the Bankruptcy Code which is converted to a case under Chapter 11 of the Bankruptcy Code, Tenant's trustee or Tenant, as debtor-in- possession, must elect to assume this Lease within the time period specified by Section 365(d)(4) of the Bankruptcy Code or Tenant's trustee or the debtor-in- possession shall be deemed to have rejected this Lease. In the event that Tenant, Tenant's trustee or the debtor-in-possession has failed to perform all of Tenant's obligations under this Lease within the time periods (excluding grace periods) required for such performance, no election by Tenant's 

 

			
	
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trustee or the debtor-in-possession to assume this Lease, whether under a case filed under Chapter 7 or Chapter 11, shall be permitted or effective unless each of the following conditions has been satisfied:

(1)Tenant's trustee or Tenant, as debtor-in- possession, has cured all Events of Default under this Lease (except any Events of Default that Tenant's trustee or Tenant, as debtor-in- possession, are excused from curing under Section 365(b)(1)(A) of the Bankruptcy Code) , or has provided Landlord with adequate assurance that Tenant will promptly cure all Events of Default (except any Events of Default that Tenant's trustee or Tenant, as debtor-in- possession, are excused from curing under Section 365(b)(1)(A) of the Bankruptcy Code) within a reasonable period of time as determined by the Bankruptcy Court.

(2)Tenant's trustee or Tenant, as debtor-in-possession, has compensated Landlord, or has provided Landlord with adequate assurance that Tenant's trustee or Tenant, as debtor-in-possession, will promptly compensate Landlord, for any actual pecuniary loss incurred by Landlord arising from the default of Tenant, Tenant's trustee, or Tenant as debtor-in-possession under the Lease.

(3)Tenant's trustee or Tenant, as debtor-in-possession, has provided Landlord with adequate assurance of future performance under the Lease.

(4)The assumption of this Lease will not breach or cause a default under any provision of any other lease, mortgage, financing arrangement or other agreement by which Landlord is bound.

 

			
	
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(ii)For purposes of this Section 13.6(b), Landlord and Tenant acknowledge that adequate assurance of future performance shall mean: (1) Tenant's trustee or the debtor-in- possession has and will continue to have sufficient unencumbered assets after the payment of all secured obligations and administrative expenses to assure Landlord that sufficient funds will be available to fulfill the obligations of Tenant under this Lease, (2) there shall have been deposited with Landlord, or the Bankruptcy Court shall have entered an order segregating, sufficient cash payable to Landlord, (3) Tenant's trustee or the debtor-in-possession shall have granted a valid and perfected first lien and security interest and/or mortgage in property of Tenant, Tenant's trustee or the debtor-in-possession, acceptable as to value and kind to Landlord, to secure to Landlord the obligation of Tenant, Tenant's trustee or the debtor-in-possession to cure the Events of Default under this Lease, monetary and/or non-monetary, or (4) the Bankruptcy Court has determined that Tenant's trustee or Tenant, as debtor-in- possession, has provided Landlord with adequate assurance of future performance as required under Section 365(b)(1)(C) of the Bankruptcy Code and applicable law.

(c)If Tenant's trustee or the debtor-in-possession has assumed this Lease pursuant to the terms and provisions of Section 13.6.(a) or Section 13.6.(b) for the purpose of assigning (or elects to assign) this Lease, this Lease may be so assigned only if the proposed Assignee provides Landlord with adequate assurance of future performance of all of the terms, covenants and conditions of this Lease as required by Section 365(f)(2)(B) of the Bankruptcy Code. Landlord shall be entitled to receive all cash proceeds of such assignment; provided that, Tenant's trustee or Tenant, as debtor-in-possession, shall be entitled to receive any proceeds that exceed the full amount of Landlord’s right to a monetary cure claim amount, if any. As used herein "adequate assurance of future performance" shall mean no less than that each of the following conditions has been satisfied:

(i)The Bankruptcy Court has determined that Assignee has provided Landlord with adequate assurance of future performance as required under Section 365(f)(2)(B) of the Bankruptcy Code and applicable law, or the Assignee has furnished Landlord with either (2) (x) a copy of a credit rating of Assignee which Landlord reasonably determines to be sufficient to assure the future performance by Assignee of Tenant's obligations under this Lease and (y) a current financial statement of Assignee audited by a certified public accountant indicating a net worth and working capital in amounts which Landlord reasonably determines to be sufficient to assure the future performance by Assignee of Tenant's obligations under this Lease, or (3) a guarantee or guarantees, in form and substance satisfactory to Landlord, from one or more persons with a credit rating and net worth equal to or exceeding the credit rating and net worth of Tenant as of the date hereof.

(ii)Landlord has obtained all consents or waivers from others required under any lease, mortgage, financing arrangement or other agreement by which Landlord is bound to permit Landlord to consent to such assignment.

Section 13.7. Tenant Dispute. Landlord shall not seek to terminate the Lease or Tenant’s right of possession for reason of a monetary default, other than a default for failure to pay Base Rent, if Tenant is then in good faith contesting the existence of such default or the amount of money due to Landlord, provided that the Tenant shall pay to Landlord the amount the Tenant concedes is due plus fifty percent (50%) of the difference between the amount Tenant concedes is due and the amount Landlord claims is due and shall agree in writing to remedy the default if the amount the Landlord claims is due is subsequently determined to be correct.

Section 13.8. Landlord Default. If Landlord fails to perform any of Landlord’s obligations under this Lease, which failure continues for more than thirty (30) days after Tenant’s delivery of written notice to Landlord specifying such failure, or if such failure is of a nature to require more than thirty (30) days for 

 

			
	
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remedy and continues beyond the time reasonably necessary to cure (and Landlord has not undertaken procedures to cure the failure within such thirty (30) day period and diligently pursued such efforts to complete such cure), Tenant may, in addition to any other remedy available at law or in equity, after a second written notice to Landlord and Landlord’s failure to cure within ten (10) business days after receipt of such second written notice, at its option, incur any expense necessary to perform the obligation of Landlord specified in such notice and invoice Landlord for the cost thereof. Landlord shall reimburse Tenant for the cost thereof within thirty (30) days of Landlord’s receipt of any such invoice.

ARTICLE XIV

HOLDING OVER IN POSSESSION

If Tenant shall retain possession of all or any part of the Premises beyond the expiration or termination of this Lease, Tenant (i) shall pay to Landlord one hundred twenty five percent (125%) of the Base Rent payable for the last month of the Term of this Lease and any Additional Rent due to Landlord for each month that Tenant holds possession of any part of the Premises after expiration or termination of this Lease; (ii) shall also pay all actual costs incurred and damages sustained by Landlord on account of such holding over; and (iii) such tenancy shall be month to month and otherwise upon such terms and conditions (including rent) as Landlord shall specify.

ARTICLE XV

MORTGAGES

Section 15.1. Subordination and Attornment. This Lease shall at all times be automatically subject and subordinate to the lien of any Mortgage that may be placed upon the Premises by Landlord, or any part thereof, and to all amounts secured thereby, and to all renewals, replacements and extensions of any of the foregoing, except to the extent that any Mortgage provides otherwise, upon the condition that Tenant shall have the right to remain in possession of the Premises under the terms of this Lease, notwithstanding any default in such Mortgage, or after the foreclosure of such Mortgage, so long as no Event of Default shall have occurred and be continuing. Tenant further agrees that, in the event of a foreclosure of any Mortgage or of a conveyance in lieu thereof, it will attorn to the mortgagee or to the purchaser at any foreclosure sale, as the case may be, upon the condition that such mortgagee or purchaser shall agree in writing to recognize Tenant and this Lease, so long as Tenant is not then in default. Tenant shall at Landlord's request execute a commercially reasonable subordination, nondisturbance and attornment agreement (“SNDA”) or such further instruments or assurances as any mortgagee or purchaser may request to evidence: (i) the subordination of this Lease or to acknowledge the superiority of this Lease, as the case may be, (ii) Tenant's attornment agreement, and/or (iii) the acknowledgment of the express obligations of Tenant to the Landlord's Mortgagee that are provided for in this Lease, provided that such instruments and assurances are on terms reasonably acceptable to Tenant.

Section 15.2. No Personal Liability. In no event shall any mortgagee of the Premises, or any part thereof, its nominee, or the purchaser at a foreclosure sale have any personal liability whatsoever for any representations, warranties, covenants or agreements of Landlord hereunder or in connection herewith, or any liability for any security deposit or other sums deposited with Landlord, or for any previous prepayment of Rent to Landlord.

Section 15.3. Notices to Mortgagee and Mortgagee Right to Cure. Provided Tenant receives written notice of the name and address of Landlord's Mortgagee having an interest in the Premises, Tenant agrees that in the event of any default by Landlord hereunder, Tenant shall send written notice of the default to Landlord's 

 

			
	
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Mortgagee.   The rights of Landlord’s Mortgagee upon receipt of such notice shall be as set forth in the SNDA. Nothing in this Section 15.3. shall be construed to require Landlord's Mortgagee to cure a default by Landlord.

Section 15.4. Foreclosure; Deed in Lieu of Foreclosure. The provisions of this Article XV shall apply in the event of a foreclosure of any Mortgage or conveyance in lieu of foreclosure, notwithstanding the fact that the mortgagee thereunder may, directly or indirectly, own or have an interest in Landlord or an interest in the Premises in addition to its interest under such Mortgage.

Section 15.5. Estoppel Certificates. From time to time upon written request of Landlord or Tenant, the other shall deliver to the requesting party within fifteen (15) days, a statement in writing by such party or its duly authorized representative having knowledge of the following facts, certifying (i) that this Lease is unmodified and in full force and effect or, if there have been modifications, an itemized description of such modifications and that this Lease as modified is in full force and effect; (ii) the dates to which Rent and other amounts payable hereunder have been paid; (iii) that the requesting party is not in default under any provision of this Lease, or, if in default, the nature thereof in detail; and (iv) such further matters as may be reasonably requested by the requesting party. It is the intention of the parties that any such statement may be relied upon by any auditors, accountants, lenders, prospective lenders, mortgagees or prospective mortgagees, or any prospective or subsequent purchaser or transferee of all or a part of Landlord's interest in the Premises. In connection with the financing, sale or transfer of the Premises by Landlord, Tenant shall execute and deliver to Landlord whatever instruments may be required by Landlord for such purposes, or Tenant shall be in default under this Lease upon the expiration of such 15-day period.

Section 15.6. Mortgage and Other Obligations Binding on Tenant. Any and all obligations of and limitations on Landlord under any Mortgage on the Premises, or any part thereof, including, without limitation, payment of property taxes and expense reimbursements, lien prohibitions, maintenance, repair, alterations, replacements and restoration obligations, required insurance coverages, and restrictions on use of insurance and condemnation proceeds, shall be binding on and be the responsibility of Tenant, subject to the provisions of this Lease and the provisions of the SNDA. Tenant shall not be permitted to mortgage, pledge, grant or assign a security interest in its leasehold and contract rights hereunder without Landlord's prior written consent, which shall not be unreasonably withheld, conditioned or delayed. Landlord and Tenant shall not modify this Lease without the express prior written consent of the Landlord’s Mortgagee.

Section 15.7. Landlord’s Lien and Security Interest. Tenant agrees that Landlord shall have a landlord’s lien, and Tenant additionally hereby separately grants to Landlord a first and prior security interest, in, on and against all of Tenant’s right, title and interest in, to and under all “goods” (excluding “inventory,” and including, without limitation, all “equipment,” “fixtures,” appliances and furniture (as “goods,” “inventory,” “equipment” and “fixtures” are defined in the applicable Uniform Commercial Code then in effect in the applicable jurisdiction)) from time to time situated on or used in connection with the Premises, whether now owned or held or hereafter arising or acquired, together with all replacements and substitutions therefore (including insurance proceeds and any title and UCC insurance proceeds) and products thereof, and, in the case of tangible collateral, together with all additions, attachments, accessions, parts, equipment and repairs now or hereafter attached or affixed thereto or used in connection therewith (collectively, the “Personalty”), which lien and security interest shall secure the payment of all Rent and other monetary obligations payable by Tenant to Landlord under the terms hereof and all other obligations of Tenant to Landlord under this Lease.   Notwithstanding anything to the contrary contained herein, Landlord’s security interest shall not apply to cash or accounts receivables. Tenant agrees that Landlord may file such documents as Landlord then deems appropriate or necessary to perfect and maintain said lien and security interest, and expressly acknowledges and agrees that, in addition to any and all other rights and remedies of Landlord whether hereunder or at law or in equity, in the event of an Event of Default of Tenant hereunder, Landlord 

 

			
	
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shall have any and all rights and remedies granted a secured party under the Uniform Commercial Code then in effect in the state where the Premises is located. Tenant covenants to promptly notify Landlord of any changes in Tenant’s name and/or organizational structure which may necessitate the execution and filing of additional financing statements; provided, however, the foregoing shall not be construed as Landlord’s consent to such changes.

As of the Effective Date, Landlord has agreed to subordinate its first position lien on Tenant’s Personalty to Hamilton State Bank (“Tenant’s Lender”); provided that Tenant provides Landlord with a letter of credit from Tenant’s Lender for the benefit of Landlord in an amount equal to $509,780.97 and in form and substance reasonably acceptable to Landlord (the “Letter of Credit”), as additional security under the Lease.

ARTICLE XVI

CERTAIN RIGHTS OF LANDLORD

Section 16.1. Right of Entry.   Upon at least twenty-four (24) hours advance written notice, except in the event of an emergency, in which case Landlord shall only be required to give such notice as is reasonably practical under the circumstances, and at such times reasonable under the circumstances, Landlord reserves, and shall at all times have, the right to enter the Premises, or any part thereof, accompanied by a representative of the Tenant, to inspect the same, to supply any service to be provided by Landlord to Tenant hereunder, to show the Premises, or any part thereof, and to alter, improve, or repair the Premises and any portion of the Premises without abatement of rent, and may for that purpose erect, use and maintain scaffolding, pipes, conduits and other necessary structures in and through the Premises, or any part thereof, where required by the character of the work to be performed; provided entrance to the Premises, or any part thereof, shall not be denied Tenant, further provided that the business of Tenant shall not be interfered with unreasonably, and further provided that Landlord’s right of entry shall not include access to secured files of the Tenant or any subtenant of Tenant’s, or secured areas used by the Tenant or a subtenant of Tenant to store pharmaceuticals or medical devices. Tenant hereby waives any claim for damages for any injury, inconvenience to or interference with Tenant's business, any loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned thereby. For each of the aforesaid purposes, Landlord shall at all times have and retain keys with which to unlock all of the doors in, upon or about the Premises, or any part thereof, and Landlord shall have the right to use any and all means which Landlord may deem reasonably necessary or proper to open such doors in an emergency in order to obtain entry. Tenant is aware that Landlord may deposit keys to the Premises, or any part thereof, in lock boxes for the benefit of the local fire departments, and Tenant hereby waives any and all claims against Landlord resulting from Landlord's deposit of keys in the lock boxes.   If Tenant changes the locks to any doors in the Premises, or any part thereof, Tenant shall immediately provide Landlord with a key for such new lock.   Tenant shall permit Landlord (or its designees) to enter the Premises, or any part thereof, to erect, use, maintain, replace and repair pipes, cables, conduits, plumbing, vents and telephone, electric and other wires or other items in, to and through the Premises, or any part thereof, as and to the extent that Landlord may now or hereafter deem necessary or appropriate for the proper operation and maintenance of the Premises, or any part thereof. In the event Landlord needs access to any under floor duct, Landlord's liability for the carpet replacement shall be limited to replacement of the piece removed to gain such access. All such work shall be done, so far as practicable, in such manner as to minimize interference with Tenant's use of the Premises, or any part thereof. Nothing in this Section

16.1shall create maintenance obligations for Landlord. Landlord’s obligations with respect to maintenance of the Premises are expressly provided for, if at all, in the other provisions of this Lease.

Section 16.2. Sale or Transfer of Premises. Landlord shall have the right to sell, assign or otherwise transfer, in whole or in part, its interest in the Premises and the Property without Tenant’s consent.

 

			
	
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ARTICLE XVII

MISCELLANEOUS

Section 17.1. Effect of Payments by Tenant. No payment by Tenant or receipt by Landlord of a lesser amount than the total amount then due and payable shall be deemed to be other than on account, nor shall any such payment be deemed an accord and satisfaction. Landlord may accept any payment without prejudice to any outstanding demand or action for possession, notice of default or notice of termination. No payment by Tenant after termination of this lease shall reinstate this Lease or extend the Term or waive or affect any notice given or proceedings commenced.

Section 17.2. Waiver of Jury Trial. LANDLORD AND TENANT HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT EITHER MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY AND ALL ISSUES PRESENTED IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY EITHER OF THE PARTIES HERETO AGAINST THE OTHER OR ITS SUCCESSORS WITH RESPECT TO ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS LEASE, THE RELATIONSHIP OF LANDLORD AND TENANT, TENANT’S USE OR OCCUPANCY OF THE PREMISES, AND/OR ANY CLAIM FOR INJURY OR DAMAGE, OR ANY EMERGENCY OR STATUTORY REMEDY. THIS WAIVER BY THE PARTIES HERETO OF ANY RIGHT EITHER MAY HAVE TO A TRIAL BY JURY HAS BEEN NEGOTIATED AND IS AN ESSENTIAL ASPECT OF THEIR BARGAIN. FURTHERMORE, EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES THE RIGHT IT MAY HAVE TO SEEK PUNITIVE, CONSEQUENTIAL, SPECIAL AND INDIRECT DAMAGES FROM THE OTHER PARTY AND ANY OF THE AFFILIATES, OFFICERS, DIRECTORS, MEMBERS, MANAGERS OR EMPLOYEES OF THEREOF OR ANY OF THEIR SUCCESSORS WITH RESPECT TO ANY AND ALL ISSUES PRESENTED IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT WITH RESPECT TO ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS LEASE OR ANY DOCUMENT CONTEMPLATED HEREIN OR RELATED HERETO. THE WAIVER BY THE PARTIES OF ANY RIGHT IT MAY HAVE TO SEEK PUNITIVE, CONSEQUENTIAL, SPECIAL AND INDIRECT DAMAGES HAS BEEN NEGOTIATED BY THE PARTIES HERETO AND IS AN ESSENTIAL ASPECT OF THEIR BARGAIN.

Section 17.3. No Joint Venture.   This Lease does not create a joint venture or partnership between Landlord and Tenant or Landlord and the Landlord’s Mortgagee or the Landlord’s Mortgagee and Tenant.

Section 17.4. Effect of Waiver. No waiver of performance of any agreement in this Lease shall be binding against the party alleged to have waived unless the waiver shall be in writing. No waiver shall be extended by implication, custom or practice to any situation or circumstance not expressly described and shall not be interpreted as applying to any obligations of a recurring nature, unless so stated with particularity.

Section 17.5. Real Estate Brokers.   Landlord and Tenant each represents and warrants to the other that it has not dealt with any real estate broker or brokers in connection with this Lease. In the event that any claim for any broker's or finder's fee or commission in connection with the negotiation, execution or consummation of this Lease is made by any person or entity, each party shall defend, indemnify and hold the other harmless from and against any such claim.

Section 17.6. Recitals. The recitals hereto are hereby incorporated into and made a part of this Lease.

Section 17.7. Time of Essence.   Time is of the essence of this Lease and each and every provision 

 

			
	
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hereof.

Section 17.8. Communications. All communications provided for herein shall be in writing and shall be deemed to be given or made upon receipt or refusal of receipt. All communications shall be served personally, via overnight delivery, or deposited in the United States mail, registered or certified, return receipt requested, postage prepaid, addressed as follows:

If to Landlord:            STORE Master Funding IX, LLC

8501 E. Princess Drive, Suite 190

Scottsdale, Arizona 85255

Attn: Mr. Michael T. Bennett, Executive Vice President – General Counsel

with a copy to:            Kutak Rock, LLP

1801 California Street, Suite 3000

Denver, Colorado 80202

Attn: Whitney A. Kopicky, Esq.

If to Tenant:            Cytometry Specialists, Inc.

2580 Westside Parkway

Alpharetta, GA 30004 Attn: Mr. Ron Ghafary

with a copy to:        Arnall Golden Gregory LLP

171 17th Street NW, Suite 2100

Atlanta, Georgia 30363 Attn: Michael Golden, Esq.

Or to such party at such other address as such party may designate by notice duly given in accordance with this Section to the other party.

Section 17.9. Successors and Assigns. The rights and obligations of the parties to this Lease shall inure to the benefit of, and shall be binding upon, their respective successors, and assigns.

Section 17.10. Severability. In the event any provision of this Lease shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision hereof.

Section 17.11. Execution of Counterparts. This Lease may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.

Section 17.12. Entire Agreement. This Lease sets forth all of the covenants, promises, agreements, conditions and understandings of the parties relating to the subject matter of this Lease, and there are no covenants, promises, agreements, conditions or understandings, either oral or written, between them other than as are herein set forth. This Lease supersedes all prior written and oral communications relating to the subject matter of this Lease.

Section 17.13. Modification, Waiver and Termination.   This Lease and each provision hereof may not be modified, amended, changed, altered, waived, terminated or discharged unless consented to by a written instrument signed by Landlord’s Mortgagee and the party sought to be bound by such modification, 

 

			
	
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amendment, change, alteration, waiver, termination or discharge.

Section 17.14. Construction.

(a)The words "hereof," "herein," "hereunder," and other words of similar import refer to this Lease as a whole not to the individual Sections in which such terms are used.

(b)References to Sections and other subdivision of this Lease are to the designated Sections and other subdivision of this Lease as originally executed.

(c)The headings of this Lease are for convenience only and shall not define or limit the provisions hereof.

(d)Where the context so requires, words used in the singular shall include the plural and vice versa, and words of one gender shall include all other genders.

Section 17.15. Governing Law. This Lease shall be governed exclusively by and construed in accordance with the applicable laws of the State of Georgia without giving effect to its choice of law or conflicts of laws provisions.

 

			
	
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Section 17.16. Limitation of Landlord's Liability. Anything contained in this Lease to the contrary notwithstanding, Tenant agrees that it shall look solely to the estate and property of the Landlord in the Premises and Property, including rents and proceeds therefrom, for the collection of any judgment (or other judicial process) requiring the payment of money by Landlord for any default or breach by Landlord of any of its obligations under this Lease, subject, however, to the prior rights of any ground or underlying landlord or the holder of any mortgage covering the Improvements or of Landlord's interest therein.   No other assets of the Landlord shall be subject to levy, execution or other judicial process for the satisfaction of Tenant's claim. Anything in this Lease to the contrary notwithstanding, Landlord and Tenant each hereby waives any and all rights of recovery, claim, action or cause-of-action, against the partners (both general and limited), officers, directors, shareholders, employees or representatives of the other. Nothing herein contained shall be construed to limit any right of injunction against the Landlord, where appropriate.

Section 17.17. No Merger. In no event shall the leasehold interests, estates, or rights of Tenant hereunder merge with any interests, estates, or rights of Landlord or of any mortgagee in or to any and all of the Premises, it being understood that such leasehold interests, estates, and rights of Tenant hereunder shall be deemed to be separate and distinct from Landlord's and any mortgagee's interests, estates, and rights in or to the Premises, notwithstanding that any such interests, estates, or rights shall at any time or times be held by or vested in the same person or entity.

Section 17.18. Security Deposit. Intentionally omitted.

Section 17.19. Financial Statements. Within forty five (45) days after the end of each fiscal quarter and within one hundred twenty (120) days after the end of each fiscal year of Tenant, Tenant will provide Landlord with a copy of its most recent financial statements, consisting of a balance sheet, earnings statement, statement of changes in financial position, statement of changes in owner's equity, and all other related schedules for the fiscal period then ended, such statements to detail separately interest expense, income taxes, non-cash expenses, non-recurring expenses, operating lease expense and current portion of long-term debt – capital leases, and related footnotes. All such financial statements shall be prepared in accordance with generally accepted accounting principles. Such financial statements must be either certified by a certified public accountant or sworn to as to their accuracy by an officer of Tenant. The financial statements provided must be as of a date not more than twelve (12) months prior to the date of request. Landlord shall retain such statements in confidence, but may provide copies to lenders and potential lenders as required. The financial statements delivered to Landlord need not be audited, but Tenant shall deliver to Landlord copies of any audited financial statements of the Tenant which may be prepared, as soon as they are available. Notwithstanding the foregoing, in the event that Tenant fails to timely deliver the financial statements hereunder, such failure shall not constitute an Event of Default hereunder unless and until Landlord shall have given Tenant written notice thereof and a period of thirty

(30)calendar days shall have elapsed, during which period Tenant shall provide such financial statements, and upon failure of which an Event of Default shall be deemed to have occurred hereunder without further written notice or demand of any kind being required.

Section 17.20. Tenant Representations and Warranties. The representations and warranties of Tenant contained in this Section 17.20 are being made to induce Landlord to enter into this Lease, and Landlord has relied, and will continue to rely, upon such representations and warranties. Tenant represents and warrants to Landlord as follows (except as may be disclosed in writing by Tenant to Landlord within thirty (30) days of Tenant obtaining knowledge of any exceptions to such representations and warranties):

(a)Organization, Authority and Status of Tenant. Tenant has been duly organized or 

 

			
	
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formed, is validly existing and in good standing under the laws of its state of formation and is qualified as a foreign corporation to do business in any jurisdiction where such qualification is required. All necessary corporate action has been taken to authorize the execution, delivery and performance by Tenant of this Lease and of the other documents, instruments and agreements provided for herein. Tenant is not, and if Tenant is a “disregarded entity,” the owner of such disregarded entity is not, a “nonresident alien,” “foreign corporation,” “foreign partnership,” “foreign trust,” “foreign estate,” or any other “person” that is not a “United States Person” as those terms are defined in the Internal Revenue Code of 1986, as may be amended from time to time, and the regulations promulgated thereunder. The Person who has executed this Lease on behalf of Tenant is duly authorized to do so.

(b)Litigation. There are no suits, actions, proceedings or investigations pending, or to its actual knowledge, threatened against or involving Tenant, Guarantor or the Premises before any arbitrator or governmental authority which might reasonably result in a material adverse effect on (i) the Premises, including without limitation, the operation of the Premises for any Permitted Use and/or the value of the Premises; (ii) the contemplated business, condition, worth or operations of Tenant; (iii) Tenant’s ability to perform its obligations under this Lease; (iv) Landlord’s interests in the Property or this Lease; or (v) Guarantor’s ability to perform its obligations under the Guaranty (hereinafter, collectively referred to as a “Material Adverse Effect”).

(c)Absence of Breaches or Defaults. Tenant has not received written notice that Tenant is in default under any document, instrument or agreement to which Tenant is a party or by which Tenant, the Premises or any of Tenant’s property is subject or bound, which has had, or could reasonably be expected to result in, a Material Adverse Effect. The authorization, execution, delivery and performance of this Lease and the documents, instruments and agreements provided for herein will not result in any breach of or default under any document, instrument or agreement to which Tenant is a party or by which Tenant, the Premises or any of Tenant’s property is subject or bound.

(d)Compliance with OFAC Laws. Neither Tenant or any individual or entity owning directly or indirectly any interest in Tenant, is an individual or entity whose property or interests are subject to being blocked under any of the OFAC Laws or is otherwise in violation of any of the OFAC Laws; provided, however, that the representation contained in this sentence shall not apply to any Person to the extent such Person’s interest is in or through a U.S. Publicly Traded Entity. For purposes hereof, “OFAC Laws” means Executive Order 13224 issued by the President of the United States, and all regulations promulgated thereunder, including, without limitation, the Terrorism Sanctions Regulations (31 CFR Part 595), the Terrorism List Governments Sanctions Regulations (31 CFR Part 596), the Foreign Terrorist Organizations Sanctions Regulations (31 CFR Part 597), and the Cuban Assets Control Regulations (31 CFR Part 515), and all other present and future federal, state and local Laws, ordinances, regulations, policies, lists (including, without limitation, the Specially Designated Nationals and Blocked Persons List) and any other requirements of any Governmental Authority (including without limitation, the U.S. Department of the Treasury Office of Foreign Assets Control) addressing, relating to, or attempting to eliminate, terrorist acts and acts of war, each as supplemented, amended or modified from time to time after the Commencement Date, and the present and future rules, regulations and guidance documents promulgated under any of the foregoing, or under similar Laws, ordinances, regulations, policies or requirements of other states or localities.

(e)Solvency. Tenant does not have unreasonably small capital to conduct its business. There is no contemplated, pending or threatened Insolvency Event or similar proceedings, whether voluntary or involuntary, affecting Tenant or Guarantor. For purposes hereof, “Insolvency Event” shall mean (i) such Person’s (A) failure to generally pay its debts as such debts become due; (B) admitting in writing its inability to pay its debts generally; or (C) making a general assignment for the benefit of creditors; (ii) any proceeding being instituted by or against such Person (A) seeking to adjudicate it bankrupt or insolvent; (B) seeking 

 

			
	
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liquidation, dissolution, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency, or reorganization or relief of debtors; or (C) seeking the entry of an order for relief or the appointment of a receiver, trustee, or other similar official for it or for any substantial part of its property, and in the case of any such proceeding instituted against such Person, either such proceeding shall remain undismissed for a period of one hundred twenty (120) days or any of the actions sought in such proceeding shall occur; or (iii) such Person taking any corporate action to authorize any of the actions set forth above in this definition.

(f)Ownership. To Tenant’s actual knowledge, no Person that actually or constructively owns ten percent (10%) or more of the outstanding capital stock of STORE Capital Corporation owns, directly or indirectly, ten percent (10%) or more of the total value of capital stock of Tenant.

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STORE / CSI Labs

Amended and Restated Lease Agreement 

2580 Westside Dr., Alpharetta, GA

File No.: 7210/02-432.1
	
28
	
 

 

 

IN WITNESS WHEREOF the parties have executed this Lease as of the date first above written.

LANDLORD:

STORE MASTER FUNDING IX, LLC,

a Delaware limited liability company

 

		
	
By: /s/
	
Michael J. Zieg

	
Printed Name:
	
Michael J. Zieg

	
Title:
	
Executive Vice President

 

 

			
	
4823-7309-7009.2

STORE / CSI Labs

Amended and Restated Lease Agreement 

2580 Westside Dr., Alpharetta, GA

File No.: 7210/02-432.1
	
29
	
 

 

 

IN WITNESS WHEREOF the parties have executed this Lease as of the date first above written.

TENANT:

CYTOMETRY SPECIALISTS, INC.,

a Georgia corporation

 

		
	
By: /s/
	
Row Ghafary

	
Printed Name:
	
Row Ghafary

	
Title:
	
Owner

 

STORE/ CSI Lab

 

			
	
4823-7309-7009.2

STORE / CSI Labs

Amended and Restated Lease Agreement 

2580 Westside Dr., Alpharetta, GA

File No.: 7210/02-432.1
	
30

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