Document:

Form of Alterra Capital Holdings Limited Junior Subordinated Debt Indenture

 EXHIBIT 4.8 

ALTERRA CAPITAL HOLDINGS LIMITED 

TO 

THE BANK OF NEW YORK MELLON, 

Trustee 

JUNIOR SUBORDINATED INDENTURE 

Dated as of [    ] 

JUNIOR SUBORDINATED DEBENTURES 

 ALTERRA CAPITAL HOLDINGS LIMITED 

*Reconciliation and tie between Trust Indenture Act of 1939, as amended by the Trust Reform Act of 1990, and Indenture, dated as of .

  

			
	 Section of the Trust Indenture Act of 1939
	 	 Section of Indenture

	310(a)(1), (2) and (5)	 	7.9
	310(a)(3) and (4)	 	Inapplicable
	310(b)	 	7.8 and 7.10(a) and (b)
	311(a)	 	7.13(a) and (c)(i) and (iii)
	311(b)	 	7.13(b)
	312(a)	 	5.1 and 5.2(a)
	312(b)	 	5.2(b)
	312(c)	 	5.2(b)
	313(a)	 	5.4(a)
	313(b)(1)	 	Inapplicable
	313(b)(2)	 	5.4(b)
	313(c)	 	5.4(c)
	313(d)	 	5.4(d)
	314(a)	 	4.8 and 5.3
	314(b)	 	Inapplicable
	314(c)(1) and (2)	 	15.7
	314(c)(3)	 	Inapplicable
	314(d)	 	Inapplicable
	314(e)	 	15.7
	315(a), (c) and (d)	 	7.1
	315(b)	 	6.11
	315(e)	 	6.12
	316(a)(1)	 	6.9
	316(a)(2)	 	Inapplicable
	316(a) (last sentence)	 	8.4
	316(b)	 	6.7
	316(c)	 	8.1
	317(a)	 	6.2
	317(b)	 	4.2 and 4.3
	318(a)	 	15.10

  

	*	This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture or to have any bearing upon the interpretation of any of its terms or
provisions. 

 Table of Contents 

 
  

					
	 	  	Page
	ARTICLE 1 DEFINITIONS	  	
			
	Section 1.1	  	Certain Terms Defined	  	1
		
	ARTICLE 2 SECURITY FORMS	  	
	Section 2.1	  	Forms Generally	  	12
	Section 2.2	  	Form of Trustee’s Certificate of Authentication	  	12
	Section 2.3	  	Form of Trustee’s Certificate of Authentication by an Authenticating Agent	  	13
	Section 2.4	  	Securities Issuable in the Form of Global Securities	  	13
		
	ARTICLE 3 THE SECURITIES	  	
			
	Section 3.1	  	Amount Unlimited; Issuable in Series	  	14
	Section 3.2	  	Form and Denominations	  	18
	Section 3.3	  	Authentication, Dating and Delivery of Securities	  	18
	Section 3.4	  	Execution of Securities	  	20
	Section 3.5	  	Certificate of Authentication	  	20
	Section 3.6	  	Registration, Registration of Transfer and Exchange	  	21
	Section 3.7	  	Mutilated, Destroyed, Lost and Stolen Securities	  	22
	Section 3.8	  	Payment of Interest and Certain Additional Amounts; Interest Rights and Certain Additional Amounts Preserved	  	23
	Section 3.9	  	Cancellation of Securities; Destruction Thereof	  	24
	Section 3.10	  	Temporary Securities	  	24
	Section 3.11	  	Computation of Interest	  	24
	Section 3.12	  	CUSIP Numbers	  	24
	Section 3.13	  	Extension of Interest Payment Period	  	24
	Section 3.14	  	Right of Set-Off	  	25
	Section 3.15	  	Agreed Tax Treatment	  	25
	Section 3.16	  	Extension of Stated Maturity; Adjustment of Stated Maturity Upon an Exchange	  	25
		
	ARTICLE 4 COVENANTS OF THE COMPANY	  	
			
	Section 4.1	  	Payment of Securities	  	26
	Section 4.2	  	Offices or Agency	  	26
	Section 4.3	  	Money for Securities Payments to Be Held in Trust	  	27
	Section 4.4	  	Additional Amounts	  	28
	Section 4.5	  	Redemption for Tax Purposes	  	29
	Section 4.6	  	Corporate Existence	  	29
	Section 4.7	  	Waiver of Certain Covenants	  	29
	Section 4.8	  	Certificates to Trustee	  	30
	Section 4.9	  	Calculation of Original Issue Discount	  	30
	Section 4.10	  	Additional Sums	  	30

  

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	Section 4.11	  	Payment of Expenses of Each Alterra Capital Trust	  	30
	Section 4.12	  	Ownership of Common Securities	  	31
		
	 ARTICLE 5 SECURITYHOLDER LISTS AND

REPORTS BY THE COMPANY AND THE TRUSTEE
	  	
			
	Section 5.1	  	Company to Furnish Trustee Information as to Names and Addresses of Securityholders	  	31
	Section 5.2	  	Preservation and Disclosure of Securityholder Lists	  	31
	Section 5.3	  	Reports by the Company	  	32
	Section 5.4	  	Reports by the Trustee	  	32
		
	 ARTICLE 6 REMEDIES OF THE TRUSTEE AND

SECURITYHOLDERS ON EVENT OF DEFAULT
	  	
			
	Section 6.1	  	Event of Default Defined; Acceleration of Maturity; Waiver of Default	  	32
	Section 6.2	  	Collection of Indebtedness by Trustee; Trustee May Prove Debt	  	36
	Section 6.3	  	Application of Proceeds	  	37
	Section 6.4	  	Suits for Enforcement	  	38
	Section 6.5	  	Restoration of Rights on Abandonment of Proceedings	  	39
	Section 6.6	  	Limitations on Suits by Securityholders	  	39
	Section 6.7	  	Unconditional Right of Securityholders to Institute Certain Suits	  	39
	Section 6.8	  	Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default	  	40
	Section 6.9	  	Control by Holders of Securities	  	40
	Section 6.10	  	Waiver of Past Defaults	  	41
	Section 6.11	  	Trustee to Give Notice of Default, But May Withhold in Certain Circumstances	  	41
	Section 6.12	  	Right of Court to Require Filing of Undertaking to Pay Costs	  	41
	Section 6.13	  	Waiver of Usury, Stay or Extension Laws	  	42
	Section 6.14	  	Delay or Omission Not Waiver	  	42
		
	ARTICLE 7 CONCERNING THE TRUSTEE	  	
			
	Section 7.1	  	Duties and Responsibilities of the Trustee; During Default; Prior to Default	  	42
	Section 7.2	  	Certain Rights of the Trustee. Subject to Section 7.1	  	43
	Section 7.3	  	Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof	  	45
	Section 7.4	  	Trustee and Agents May Hold Securities; Collections, etc.	  	45
	Section 7.5	  	Money Held by Trustee	  	45
	Section 7.6	  	Compensation and Indemnification of Trustee and Its Prior Claim	  	45
	Section 7.7	  	Right of Trustee to Rely on Officer’s Certificate, etc.	  	46
	Section 7.8	  	Qualification of Trustee; Conflicting Interests	  	46
	Section 7.9	  	Persons Eligible for Appointment as Trustee	  	47
	Section 7.10	  	Resignation and Removal; Appointment of Successor Trustee	  	47
	Section 7.11	  	Acceptance of Appointment by Successor Trustee	  	48
	Section 7.12	  	Merger, Conversion, Consolidation or Succession to Business of Trustee	  	49
	Section 7.13	  	Preferential Collection of Claims Against the Company	  	49
	Section 7.14	  	Authenticating Agent	  	49

  

 iii 

					
	ARTICLE 8 CONCERNING THE HOLDERS OF SECURITIES	  	
	Section 8.1	  	Action by Holders	  	50
	Section 8.2	  	Proof of Execution of Instruments by Holders of Securities	  	50
	Section 8.3	  	Holders to be Treated as Owners	  	51
	Section 8.4	  	Securities Owned by Company Deemed Not Outstanding	  	51
	Section 8.5	  	Right of Revocation of Action Taken	  	52
		
	ARTICLE 9 HOLDERS’ MEETINGS	  	
			
	Section 9.1	  	Purposes of Meetings	  	52
	Section 9.2	  	Call of Meetings by Trustee	  	53
	Section 9.3	  	Call of Meetings by Company or Holders	  	53
	Section 9.4	  	Qualifications for Voting	  	53
	Section 9.5	  	Regulations	  	53
	Section 9.6	  	Voting	  	54
	Section 9.7	  	No Delay of Rights by Reason of Meeting	  	54
		
	ARTICLE 10 SUPPLEMENTAL INDENTURES	  	
			
	Section 10.1	  	Supplemental Indentures Without Consent of Securityholders	  	55
	Section 10.2	  	Supplemental Indentures With Consent of Securityholders	  	56
	Section 10.3	  	Notice of Supplemental Indenture	  	57
	Section 10.4	  	Effect of Supplemental Indenture	  	57
	Section 10.5	  	Documents To Be Given to Trustee	  	57
	Section 10.6	  	Notation on Securities in Respect of Supplemental Indentures	  	58
	Section 10.7	  	Effect on Senior Indebtedness	  	58
		
	ARTICLE 11 CONSOLIDATION, AMALGAMATION, MERGER OR SALE	  	
			
	Section 11.1	  	Company May Consolidate, Etc., Only on Certain Terms	  	58
	Section 11.2	  	Opinion of Counsel	  	59
	Section 11.3	  	Successor Person Substituted	  	59
	
	ARTICLE 12 SATISFACTION AND DISCHARGE OF INDENTURE, UNCLAIMED MONEYS
			
	Section 12.1	  	Satisfaction and Discharge of Securities of Any Series	  	59
	Section 12.2	  	Defeasance and Covenant Defeasance	  	61
	Section 12.3	  	Application of Trust Money	  	64
	Section 12.4	  	Repayment of Moneys Held by Paying Agent	  	65
	Section 12.5	  	Return of Unclaimed Moneys Held by Trustee and Paying Agent	  	65
		
	ARTICLE 13 SUBORDINATION OF SECURITIES	  	
			
	Section 13.1	  	Agreement to Subordinate	  	65
	Section 13.2	  	Default on Company Senior Indebtedness	  	66
	Section 13.3	  	Liquidation; Dissolution; Bankruptcy	  	66

  

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	Section 13.4	  	Subrogation	  	67
	Section 13.5	  	Trustee to Effectuate Subordination	  	68
	Section 13.6	  	Notice by the Company	  	69
	Section 13.7	  	Rights of the Trustee; Holders of Company Senior Indebtedness	  	69
	Section 13.8	  	Trustee Not Fiduciary for Holders of Senior Indebtedness	  	70
	Section 13.9	  	Subordination May Not Be Impaired	  	70
	Section 13.10	  	Application by Trustee of Assets Deposited with It	  	70
		
	ARTICLE 14 MISCELLANEOUS PROVISIONS	  	
			
	Section 14.1	  	Incorporators, Shareholders, Officers and Directors of Company Exempt from Individual Liability	  	71
	Section 14.2	  	Provisions of Indenture for the Sole Benefit of Parties and Securityholders	  	71
	Section 14.3	  	Successors and Assigns of Company Bound by Indenture	  	72
	Section 14.4	  	Holders of Preferred Securities as Third Party Beneficiaries	  	72
	Section 14.5	  	Notices to Holders; Waiver	  	72
	Section 14.6	  	Addresses for Notices	  	72
	Section 14.7	  	Officer’s Certificates and Opinions of Counsel; Statements to Be Contained Therein	  	72
	Section 14.8	  	Separability Clause	  	73
	Section 14.9	  	Legal Holidays	  	73
	Section 14.10	  	Conflict of Any Provision of Indenture with Trust Indenture Act	  	74
	Section 14.11	  	Governing Law; Waiver of Jury Trial	  	74
	Section 14.12	  	Judgment Currency	  	74
	Section 14.13	  	No Security Interest Created	  	75
	Section 14.14	  	Submission to Jurisdiction	  	75
	Section 14.15	  	Counterparts	  	75
	Section 14.16	  	Effect of Headings	  	75
	Section 14.17	  	Force Majeure	  	76
		
	ARTICLE 15 REDEMPTION OF SECURITIES	  	
			
	Section 15.1	  	Applicability of Article	  	76
	Section 15.2	  	Notice of Redemption; Selection of Securities	  	76
	Section 15.3	  	Payment of Securities Called for Redemption	  	78
	Section 15.4	  	Right of Redemption of Securities Issued to a Alterra Capital Trust	  	78
		
	ARTICLE 16 SINKING FUNDS	  	
			
	Section 16.1	  	Applicability of Article	  	79
	Section 16.2	  	Satisfaction of Mandatory Sinking Fund Payment with Securities	  	79
	Section 16.3	  	Redemption of Securities for Sinking Fund	  	79

  

 v 

 This JUNIOR SUBORDINATED INDENTURE (herein, the “Indenture”), dated as of
[    ], between Alterra Capital Holdings Limited, an exempted company incorporated in Bermuda as a holding company (herein, subject to ARTICLE 11, sometimes called the “Company”), having its principal office at Alterra
House, 2 Front Street, Hamilton HM 11, Bermuda, and The Bank of New York Mellon, a corporation organized under the laws of the state of New York, authorized to conduct a banking business banking corporation, as Trustee (hereinafter, subject to
ARTICLE 12, called the “Trustee”), having its principal corporate trust office at 101 Barclay Street, Floor 4 New York, NY 10286, Attention: International Corporate Trust. 

Recitals of the Company 

The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its
subordinated notes, debentures or other evidences of its unsecured indebtedness (herein called the “Securities”), including, without limitation, Securities issued to evidence loans made to the Company of the proceeds from the issuance from
time to time by one or more Alterra Capital Trusts (as defined herein) of preferred beneficial interests in the assets of such Trusts (the “Preferred Securities”) and common beneficial interests in the assets of such Trusts (the
“Common Securities” and, collectively with the Preferred Securities, the “Trust Securities”), to be issued in one or more series, authenticated and delivered, as in this Indenture provided. 

All things necessary have been done to make this Indenture a valid and legally binding agreement of the Company, in accordance with its
terms. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Persons acquiring the same, it is mutually covenanted
and agreed, for the equal and proportionate benefit of all Holders of the Securities or of the Securities of any series, without giving any priority of any one Security or series over any other, except as otherwise expressly provided herein, as
follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.1 Certain Terms Defined. The following terms (except as otherwise expressly provided or unless the context
otherwise clearly requires) for all purposes of this Indenture, including any indenture supplemental hereto, have the respective meanings specified in this Section. All other terms used in this Indenture that are defined in the Trust Indenture Act
or the definitions of which in the Securities Act of 1933 are referred to in the Trust Indenture Act or that are defined by rule of the Commission under the Trust Indenture Act (except as herein otherwise expressly provided or unless the context
otherwise clearly requires) have the meanings assigned to such terms in said Trust Indenture Act and in said Securities Act or in said Commission rule under the Trust Indenture Act as in force at the date on which this Indenture was originally
executed (subject to Section 10.1 and Section 10.2). 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. All references herein to “Articles” or other subdivisions are to the corresponding Articles or other subdivisions of this Indenture. 

 The terms defined in this Article have the meanings assigned to them in this Article and
include the plural as well as the singular. 
 “Additional Amounts” means any additional amounts which are required
hereby or by any Security, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes, assessments or other governmental charges imposed on Holders specified therein and which are owing to such Holders.

 “Additional Provisions” has the meaning specified in Section 13.1. 

“Additional Interest” means the interest, if any, that shall accrue on any interest on the Securities of any series the payment
of which has not been made on the applicable Interest Payment Date and which shall accrue at the rate per annum specified or determined as specified in such Security. 

“Additional Sums” has the meaning specified in Section 4.10. 

“Additional Taxes” means the sum of any additional taxes, duties and other governmental charges to which a Alterra Capital
Trust has become subject from time to time as a result of a Tax Event. 
 “Affiliate” of any specified Person means
any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person; provided, however, that an Affiliate of the Company shall not be deemed to include any Alterra Capital Trust
to which Securities in respect thereof have been issued. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Alterra Capital Trusts” means, collectively, Alterra Capital Trust I, a statutory trust formed under the Statutory Trust Act,
and any other similar trust created to issue Trust Securities and to use the proceeds from the sale thereof to purchase Securities issued under this Indenture. 

“Authenticating Agent” means, with respect to any series of Securities, any authenticating agent appointed by the Trustee, with
respect to that series of Securities, pursuant to Section 7.14. 
 “Authorized Newspaper” means a newspaper or
financial journal printed in the English language, customarily published at least once a day, and customarily published for at least five days in each calendar week, whether or not published on days that are legal holidays and of general
circulation; or, in the alternative, shall mean such form of communication as may have come into general use for the dissemination of information of import similar to that of the information specified to be published by the provisions hereof.
Whenever successive publications are required or authorized to be made in Authorized Newspapers, the successive publications may be made (unless otherwise expressly provided herein) in the same or different newspapers meeting the foregoing
requirements and in each case on any Business Day. In case, by reason of the suspension of publication of any Authorized Newspaper, or for any other cause, 

 

 2 

 
it shall be impractical without unreasonable expense to make publication of any notice in an Authorized Newspaper as required by this Indenture, then such method of publication or notification as
shall be made with the approval of the Trustee shall be deemed the equivalent of the required publication of such notice in an Authorized Newspaper. 

“Board of Directors” means either the board of directors of the Company or any committee of such Board of Directors or Officer
duly authorized to act with respect to a particular matter on behalf of the Board of Directors. 
 “Board Resolution”
means a copy of a resolution certified by the Secretary or any Assistant Secretary of the Company 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.

 “Business Day,” when used with respect to any Place of Payment or any other location specified in the Securities or
this Indenture, means any day other than a Saturday, Sunday or a day on which banking institutions in that Place of Payment or location are generally authorized or obligated by law, regulation or executive order to close, except as may be otherwise
specified as contemplated by Section 3.1. 
 “Capital Stock” of any Person means any and all share capital,
interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) equity of such Person, including preferred stock, but excluding any debt securities convertible into such equity.

 “Capitalized Lease Obligation” means an obligation under a lease that is required to be capitalized for financial
reporting purposes in accordance with generally accepted accounting principles, and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with such principles.

 “Commission” means the Securities and Exchange Commission, as from time to time constituted, created under the
Exchange Act, or if at any time after the date on which this Indenture was originally executed such Commission is not existing and performing the duties assigned to it under the Trust Indenture Act on such date of original execution, then the body
performing such duties at such time. 
 “Common Securities” has the meaning specified in the first recital of this
Indenture. 
 “Common Stock” in respect of any Corporation means Capital Stock of any class or classes (however
designated) which has no preference as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Corporation, and which is not subject to redemption by such Corporation.

 “Company” means Alterra Capital Holdings Limited, an exempted company incorporated in Bermuda as a holding company,
and, subject to ARTICLE 11, its successors and assigns. 
 “Company Order” and “Company Request” mean a
written order or request signed in the name of the Company by the president, any vice president or the treasurer or controller and by any assistant treasurer, any assistant controller, the secretary or any assistant secretary of the Company, and
delivered to the Trustee. 
  

 3 

 “Company Senior Indebtedness” means, with respect to the Securities of any
particular series, all Indebtedness of the Company outstanding at any time, except (a) the Securities of such series, (b) Indebtedness as to which, by the terms of the instrument creating or evidencing the same, it is provided that such
Indebtedness is subordinated to or pari passu with the Securities of such series, (c) Indebtedness of the Company to, or guaranteed on behalf of, a Subsidiary of the Company or any officer, director or employee of the Company or any Subsidiary
of the Company, (d) interest accruing after the filing of a petition initiating any proceeding relating to the Company referred to in Section 6.1(f) and 6.1(g) unless such interest is an allowed claim enforceable against the Company in a
proceeding under federal or state bankruptcy laws, (e) trade accounts payable, (f) any liability for income, franchise, real estate or other taxes owed or owing and (g) any Indebtedness, including all other debt securities and
guarantees in respect of those debt securities, initially issued to (x) any Alterra Capital Trust or (y) any trust, partnership or other entity affiliated with the Company which is a financing vehicle of the Company or any Affiliate of the
Company in connection with the issuance by such entity of preferred securities or other securities which are similar to Preferred Securities that are guaranteed by the Company pursuant to an instrument that ranks pari passu with or junior in right
of payment to the Preferred Securities Guarantees. 
 “Conversion Event” means the cessation of use of (i) a
Foreign Currency both by the government of the country or the confederation which issued such Foreign Currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community or
(ii) any currency unit or composite currency for the purposes for which it was established. 
 “Corporate Trust
Office” means the principal office of the Trustee at which at any particular time its corporate trust business shall be administered, which office, on the date of original execution of this Indenture, is located at 101 Barclay Street, Floor 4
New York, NY 10286, Attention: Corporate Trust Administration, or at any other time at such other address as the Trustee may designate from time to time by notice to the parties hereto, or at the principal corporate trust office of any
successor trustee as to which such successor trustee may notify the parties hereto in writing. 
 “Corporation”
includes corporations, limited liability companies, incorporated associations, companies and business trusts. 

“Depositary” means, with respect to the Securities of any series or any Tranche thereof, which, in accordance with the
determination of the Company, will be issued in whole or in part in the form of one or more Global Securities, The Depository Trust Company, New York, New York, another clearing agency or any successor registered under the Exchange Act, or other
applicable statute or regulation, which, in each case, shall be designated by the Company pursuant to either Section 2.4 or Section 3.1. If at any time there is more than one such Person, “Depositary” as used with respect to the
Securities of any such series or Tranche thereof means the Depositary with respect to the Securities of that series or Tranche. 

“Direct Action” has the meaning specified in Section 6.7. 

 

 4 

 “Distributions,” with respect to any Alterra Capital Trust, has the meaning
specified in the applicable Trust Agreement of such Alterra Capital Trust. 
 “Dollar” (“$”) means the coin
or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts. 

“Exchange Act” means the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, in each case as
amended from time to time, or any successor legislation. 
 “Event of Default” means any event or condition specified
as such in Section 6.1. 
 “Extension Period” has the meaning specified in Section 3.13. 

“Foreign Currency” means any currency, currency unit or composite currency, including, without limitation, the euro, issued by
the government of one or more countries other than the United States of America or by any recognized confederation or association of such governments. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles
Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Standards Accounting Board, and as are applicable to the financial statements of the Company, in each case as of the date of any
computation required hereunder. 
 “Global Security” means, with respect to all or any part of any series of
Securities, a Security executed by the Company and authenticated and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with this Indenture and pursuant to a Company Order, which shall be
registered in the name of the Depositary or its nominee and the ownership of which will be registered in a “book-entry” or other system maintained by the Depositary. 

“Government Obligations” means securities which are (i) direct obligations of the United States of America or the other
government or governments or confederation or association of governments which issued the Foreign Currency in which the principal of or any premium or interest on such Security or any Additional Amounts in respect thereof shall be payable, in each
case where the payment or payments thereunder are supported by the full faith and credit of such government or governments or confederation or association of governments; or (ii) obligations of a Person controlled or supervised by and acting as
an agency or instrumentality of the United States of America or such other government or governments or confederation or association of governments, in each case where the timely payment or payments thereunder are unconditionally guaranteed as a
full faith and credit obligation by the United States of America or such other government or governments or confederation or association of governments, and which, in the case of (i) or (ii), are not callable or redeemable at the option of the
issuer or issuers thereof, and shall also include a depository receipt issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific payment of interest on or principal of or other amount with respect to
any such 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 Government Obligation or the specific payment of interest on or principal of or other amount with respect to the Government Obligation evidenced by such depository
receipt. 
  

 5 

 “Guarantee Agreement” means the Preferred Securities Guarantee Agreement with
respect to the Preferred Securities of a Alterra Capital Trust, substantially in such form as may be specified as contemplated by Section 3.1 with respect to the Securities of any series, in each case as amended from time to time. 

“Guarantor” means the Company, in its capacity as guarantor with respect to the Preferred Securities. 

“Holder,” “Registered Holder” and “Securityholder” mean, with respect to a Security, the Person in whose
name such Security is registered in the Securities Register (which terms, in the case of a Global Security, mean the Depositary, notwithstanding that the Depositary maintains a “book-entry” or other system for identification of ownership
in respect of such Global Security). 
 The term “include” (and other forms of such term) means “include, without
limitation.” 
 “Indebtedness” means, with respect to any Person, (i) the principal of and any premium and
interest and Additional Amounts on (a) indebtedness of such Person for money borrowed or (b) indebtedness evidenced by notes, debentures, bonds or other similar instruments for the payment of which such Person is responsible or liable;
(ii) all Capitalized Lease Obligations of such Person; (iii) all obligations of such Person issued or assumed as the deferred purchase price of property, all conditional sale obligations and all obligations under any title retention
agreement (but excluding trade accounts payable arising in the ordinary course of business); (iv) all obligations of such Person for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit
transaction (other than obligations with respect to letters of credit securing obligations (other than obligations described in (i) through (iii) above) entered into in the ordinary course of business of such Person to the extent such
letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the third Business Day following receipt by such Person of a demand for reimbursement following payment on the letter of credit);
(v) all obligations of the type referred to in clauses (i) through (iv) of other Persons and all dividends of other Persons for the payment of which, in either case, such Person is responsible or liable as obligor, guarantor or
otherwise, the amount thereof being deemed to be the lesser of the stated recourse, if limited, and the amount of the obligation or dividends of the other Person; (vi) all obligations of the type referred to in clauses (i) through
(v) of other Persons secured by any Lien on any property or asset of such Person (whether or not such obligation is assumed by such Person), the amount of such obligation being deemed to be the lesser of the value of such property or assets or
the amount of the obligation so secured; and (vii) any amendments, modifications, refundings, renewals or extensions of any indebtedness or obligation described as Indebtedness in clauses (i) through (vi) above. 

“Indenture” means this instrument as originally executed and delivered or, if amended or supplemented as herein provided, as so
amended or supplemented, and includes the forms and terms of particular series of Securities established as contemplated hereunder. 
  

 6 

 The term “interest” means, with respect to any Original Issue Discount Security
which by its terms bears interest only after Maturity, means interest payable after Maturity and, when used with respect to a Security which provides for the payment of Additional Amounts pursuant to Section 4.4, includes such Additional
Amounts. 
 “Interest Payment Date” means, with respect to any Security, the Stated Maturity of an installment of
interest on such Security. 
 “Investment Company Event” means, in respect of a Alterra Capital Trust, such Alterra
Capital Trust shall have received an Opinion of Counsel from a nationally recognized independent counsel experienced in practice under the Investment Company Act to the effect that, as a result of the occurrence of a change in law or regulation or a
written change in interpretation or application of law or regulation by any legislative body, court, governmental agency or regulatory authority (a “Change in 1940 Act Law”), there is a more than an insubstantial risk that such Alterra
Capital Trust is or will be considered an Investment Company that is required to be registered under the Investment Company Act, which Change in 1940 Act Law becomes effective on or after the date of the issuance of the Preferred Securities of such
Alterra Capital Trust. 
 “Judgment Currency” has the meaning specified in Section 15.12. 

“Lien” means any mortgage, pledge, lien, security interest or other encumbrance. 

“Majority in liquidation preference of the Securities” means, except as provided by the Trust Indenture Act, Holders, voting
separately as a class, representing more than 50% of the stated liquidation preference (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accrued and unpaid Distributions to the date upon which the voting
percentages are determined) of all Preferred Securities. 
 “Maturity” means, with respect to any Security, the date
on which the principal of such Security becomes due and payable as therein or herein provided, whether at the Stated Maturity or by acceleration, call for redemption or otherwise. 

“New York Banking Day” has the meaning specified in Section 15.12. 

“1940 Act” means the Investment Company Act of 1940, as amended from time to time, or any successor legislation. 

“Officer” means the Chairman of the Board, the Deputy Chairman of the Board, the President, any Vice President, the Treasurer,
any Assistant Treasurer, the Controller, the Secretary, any Assistant Controller or any Assistant Secretary of the Company. 

“Officer’s Certificate” means a certificate signed by an Officer and delivered to the Trustee, except as otherwise
specifically set forth herein. 
 “Opinion of Counsel” means an opinion in writing signed by legal counsel who may be
an employee of or counsel to the Company. 
  

 7 

 “Original Issue Discount Security” means any Security that provides for an amount
less than the principal amount thereof to be due and payable upon a declaration of acceleration with respect thereto pursuant to Section 6.1. 

“Outstanding” (subject to Section 8.4) means, with reference to Securities as of the date of determination, all Securities
authenticated and delivered under this Indenture, except: 
 (a) Securities theretofore cancelled by the Trustee or delivered to
the Trustee for cancellation; 
 (b) Securities, or portions thereof, for the payment or redemption of which moneys in the
necessary amount shall have been irrevocably deposited in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside, segregated and held in trust by the Company for the Holders of such Securities (if the
Company shall act as its own Paying Agent) or for the payment of which Government Obligations shall have been irrevocably deposited in trust with the Trustee in accordance with ARTICLE 12; provided that, if such Securities, or portions thereof, are
to be redeemed prior to the Stated Maturity thereof, notice of such redemption shall have been given as herein provided, or provision satisfactory to the Trustee shall have been made for giving such notice; 

(c) any such Security with respect to which the Company has effected defeasance pursuant to the terms hereof, except to the extent
provided in Section 12.2; 
 (d) Securities in substitution for which other Securities shall have been authenticated and
delivered, or which shall have been paid, pursuant to the terms of Section 3.7 (except with respect to any such Security as to which proof satisfactory to the Trustee and the Company is presented that such Security is held by a Person in whose
hands such Security is a legal, valid and binding obligation of the Company); and 
 (e) any such Security converted or
exchanged as contemplated by this Indenture into securities of the Company another issuer, if the terms of such Security provide for such conversion or exchange pursuant to Section 3.1. 

In determining whether Holders of the requisite principal amount of Outstanding Securities of any or all series have made or given any
request, demand, authorization, direction, notice, consent or waiver hereunder, or are present to constitute a quorum at a meeting of Holders of Securities, (i) the principal amount of an Original Issue Discount Security that shall be deemed to
be Outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration with respect thereto pursuant to Section 6.1 and
(ii) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or such other obligor, shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be
protected in making such a determination or relying upon any such quorum, consent or vote, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. 

 

 8 

 “Overdue Rate” means, with respect to any Security of any particular series, the
rate designated as such in or pursuant to the resolution of the Board of Directors or the supplemental indenture, as the case may be, relating to such Security as contemplated by Section 3.1. 

“Paying Agent” means any Person authorized by the Company to pay the principal of, or premium, if any, or interest, if any, on,
any Securities on behalf of the Company. 
 “Periodic Offering” means an offering of Securities of a series from time
to time, any or all of the specific terms of which Securities, which may be in one or more Tranches, including the rate or rates of interest, if any, thereon, the Stated Maturity or Maturities thereof and the redemption provisions, if any, with
respect thereto, are to be determined by the Company or its agents from time to time subsequent to the initial request for authentication and delivery of such Securities by the Trustee, all as contemplated in Section 3.1. 

“Person” means a legal person, including any individual, corporation, estate, company, limited liability company, trust,
partnership, limited liability partnership, joint venture, association, joint stock company, trust, unincorporated association or government or any agency or political subdivision thereof, or any entity of whatever nature. 

“Place of Payment” means, with respect to any Security, the place or places where the principal of, and premium, if any, and
interest, if any, on, such Security are payable as specified pursuant to Section 3.1. 
 “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 3.7 in lieu of a lost, destroyed, mutilated or stolen Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security. 

“Preferred Securities” has the meaning specified in the first recital of this Indenture. 

“Preferred Securities Guarantee” means the guarantee by Alterra Capital Holdings Limited, in its capacity as Guarantor with
respect to the Preferred Securities of a Alterra Capital Trust, of distributions on such Preferred Securities to the extent provided in the Guarantee Agreement. 

“Institutional Trustee,” with respect to any Alterra Capital Trust, means the entity acting in the capacity of Institutional
Trustee pursuant to the related Trust Agreement. 
 “Redemption Date” means, with respect to any Security to be
redeemed, the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption Price” means, with
respect to any Security or portion thereof to be redeemed, the price at which it is to be redeemed pursuant to this Indenture. 

“Registered Holder”: See “Holder.” 

 

 9 

 “Regular Record Date” for the interest payable on any Interest Payment Date on a
Security means the date specified for that purpose pursuant to Section 3.1 or as specified in Section 3.8. 

“Required Currency” has the meaning specified in Section 15.12. 

“Responsible Officer” any vice president, any assistant vice president, any assistant treasurer, any trust officer or assistant
trust officer or any other officer of the Preferred Guarantee Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other
officer to whom such matter is referred because of that officer’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 

“Securities Act” means the Securities Act of 1933, as amended, from time to time, or any successor legislation. 

“Securities Register” and “Securities Registrar” have the meaning specified in Section 3.6. 

“Security” or “Securities” has the meaning stated in the recitals of this Indenture. 

“Senior Indebtedness” means Company Senior Indebtedness with respect to the Securities of such series. 

“Special Event” means an Investment Company Event or a Tax Event. 

“Special Record Date” for the payment of any defaulted interest means a date fixed pursuant to Section 3.8. 

“Stated Maturity” means, with respect to any Security or any installment of principal thereof or interest thereon or any
Additional Amounts with respect thereto, 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, or such Additional Amounts are, due and payable (without regard
to any provisions for redemption, prepayment, acceleration, purchase or extension). 
 “Statutory Trust Act” means
Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. ss. 3801 et seq., as it may be amended from time to time, or any successor legislation. 

“Subsidiary” means, in respect of any Person, any Corporation, limited or general partnership or other business entity of which
at the time of determination more than 50% of the voting power of the shares of its Capital Stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of
directors, managers or trustees thereof is owned or controlled, directly or indirectly, by (i) such Person, (ii) such Person and one or more Subsidiaries of such Person or (iii) one or more Subsidiaries of such Person. 

 

 10 

 “Tax Event” means, in respect of a Alterra Capital Trust, such Alterra Capital
Trust shall have received an Opinion of Counsel, rendered by a nationally recognized independent tax counsel experienced in such matters, to the effect that as a result of (a) any amendment to, or change (including any announced prospective
change) in, the laws (or any regulations thereunder) of the United States or any political subdivision or taxing authority therefor or therein, or (b) any amendment to, or change in, an interpretation or application of any such laws or
regulations by any legislative body, court, governmental agency or regulatory authority (including the enactment of any legislation and the publication of any judicial decision or regulatory determination on or after the date of the issuance of the
Preferred Securities of such Alterra Capital Trust), in either case on or after the date of the issuance of the Preferred Securities of such Alterra Capital Trust, there is more than an insubstantial risk that (i) the Trust is or will be
subject to United States Federal income tax with respect to interest received on the corresponding series of Securities, or (ii) such Alterra Capital Trust is, or will be within 90 days of the date of such Opinion of Counsel, subject to more
than a de minimis amount of taxes, duties, assessments or other governmental charges. 
 “Trust Agreement” means the
Declaration of Trust substantially in the form attached hereto as Annex A, as amended by an Amended and Restated Declaration of Trust Agreement substantially in such form as may be specified as contemplated by Section 3.1 with respect to the
Securities of any series, in each case as amended from time to time. 
 “Tranche” means a group of Securities which
(a) are of the same series and (b) are identical except as to principal amount and/or date of issuance. 
 “Trust
Indenture Act” means the Trust Indenture Act of 1939, as amended, as in force at the date as of which this Indenture was executed; provided, however, that in the event that such Act is amended after such date, “Trust Indenture Act”
means, to the extent required by such amendment, the Trust Indenture Act of 1939 as so amended from time to time, or any successor legislation. 

“Trust Securities,” with respect to any Alterra Capital Trust, means, collectively, the Common Securities and Preferred
Securities issued by such Alterra Capital Trust. 
 “Trustee” means the Person identified as “Trustee” in
the first paragraph hereof and, subject to the provisions of ARTICLE 7, shall also include any successor trustee. 

“United States,” except as otherwise provided in or pursuant to this Indenture or any Board Resolution, Company Order and
Company Request or both, means the United States of America (including the states thereof and the District of Columbia), its territories and possessions and other areas subject to its jurisdiction. 

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

 

 11 

 “Vice President” means any vice president, whether or not designated by a number
or a word or words added before or after the title “vice president.” 
 ARTICLE 2 

SECURITY FORMS 

Section 2.1 Forms Generally. The Securities of each series shall be in substantially such form (not inconsistent with this
Indenture) as shall be established pursuant to Section 3.1, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture or any indenture supplemental hereto, and
may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as the Company may deem appropriate and as are not contrary to the provisions of this Indenture, or as may be required to comply with any
law or with any rules made pursuant thereto or with any rules of any securities exchange or of any automated quotation system, or to conform to usage, all as determined by the officers executing such Securities, as conclusively evidenced by their
execution of the Securities. If the forms of Securities of the series are established by, or by action taken pursuant to, a Board Resolution, a copy of the Board Resolution together with an appropriate record of any such action taken pursuant
thereto, including a copy of the approved form of Securities shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 3.3
for the authentication and delivery of such Securities. 
 The definitive Securities shall be prepared by the Company and 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 conclusively evidenced by their execution of such Securities, subject to the
rules of any securities exchange or automated quotation system on which such Securities are listed or quoted and (with respect to Global Securities) to the rules of the Depositary. 

Section 2.2 Form of Trustee’s Certificate of Authentication. The Trustee’s Certificate of Authentication on all
Securities shall be in substantially the following form: 
 “CERTIFICATE OF AUTHENTICATION 

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

 

			
	  

	as Trustee
		
	By:	 	  

		 	Authorized Signatory”

  

 12 

 Section 2.3 Form of Trustee’s Certificate of Authentication by an
Authenticating Agent. If at any time there shall be an Authenticating Agent appointed with respect to any series of Securities, then the Trustee’s Certificate of Authentication by such Authenticating Agent on all Securities of each such
series shall be in substantially the following form: 
 “CERTIFICATE OF AUTHENTICATION 

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

 

			
	  

	as Trustee
		
	By:	 	  

		 	Authenticating Agent
		
	By:	 	  

		 	Authorized Signatory”

Section 2.4 Securities Issuable in the Form of Global Securities. 

(a) If the Company shall establish pursuant to Section 3.1 that the Securities of a particular series are to be issued in whole or in
part as one or more Global Securities, then the Company shall execute, and the Trustee shall, in accordance with Section 3.3 and the Company Order deliver to the Trustee thereunder, authenticate and make available for delivery, one or more
Global Securities, each of which (i) shall represent an aggregate principal amount equal to the aggregate principal amount of the Outstanding Securities of such series to be represented by such Global Security and may also provide that the
aggregate amount of Outstanding Securities represented thereby may from time to time be increased or reduced to reflect exchanges, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by the
Trustee to the Depositary or pursuant to the Depositary’s instruction and (iv) if required by the Depositary, shall bear a legend reflecting the Depositary’s interest in such Global Security. 

(b) Notwithstanding any provision of Section 3.6, any Global Security thereof may be transferred, in whole but not in part, and in
the manner provided in Section 3.6, only to another nominee of the Depositary for such series or Tranche, or to a successor Depositary for such series selected or approved by the Company or to a nominee of such successor Depositary. 

(c) If at any time the Depositary for Securities of a series or Tranche thereof notifies the Company that it is unwilling or unable to
continue as Depositary for Securities of such series or Tranche or if at any time the Depositary shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor Depositary is not
appointed by the Company within 90 days after the Company receives such notice or becomes aware of such condition, as the case may be, this Section shall no longer be applicable to the Securities of such series or Tranche and the Company will
execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of individual securities of such series or Tranche, will authenticate and make available for delivery, Securities of such series or Tranche, in authorized
denominations, and in an aggregate principal amount equal to the aggregate principal amount of the Global Security or Global Securities of such series or Tranche in exchange for such Global Security or Global Securities. 

 

 13 

 The Company may at any time determine that Securities of any series or Tranche thereof shall
no longer be represented by one or more Global Securities and that the provisions of this Section shall no longer apply to the Securities of such series or Tranche. In such event the Company will execute and the Trustee, upon receipt of a Company
Order for the authentication and delivery of individual Securities of such series or Tranche, will authenticate and make available for delivery Securities of such series or Tranche, in authorized denominations, and in an aggregate principal amount
equal to the aggregate principal amount of the Global Security or Global Securities of such series or Tranche in exchange for such Global Security. 

If specified by the Company pursuant to Section 3.1 with respect to a series of Securities or Tranche thereof, the Depositary for
such series or Tranche may surrender a Global Security for such series or Tranche in exchange in whole or in part for individual Securities of such series or Tranche on such terms as are acceptable to the Company and such Depositary. Thereupon, the
Company shall execute, and the Trustee shall authenticate and make available for delivery, without service charge, 

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

(ii) to such 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 individual Securities delivered to Holders thereof. 

In any exchange provided for in any of the preceding paragraphs of this Section, the Company will execute and the Trustee will
authenticate and make available for delivery individual Securities in registered form in authorized denominations. 
 Upon the
exchange of a Global Security for individual Securities, such Global Security shall be cancelled by the Trustee. Individual Securities issued in exchange for a Global Security pursuant to this Section shall be registered in such names and in such
authorized denominations as the Depositary for such Global Security shall instruct the Trustee. 
 The Trustee shall make such
Securities available for delivery to the Persons in whose names such Securities are so registered. 
 ARTICLE 3

 THE SECURITIES 

Section 3.1 Amount Unlimited; Issuable in Series. The aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture is unlimited. The Securities of each series shall be subordinated in right of payment to all Company Senior Indebtedness with respect to such series as provided in ARTICLE 13. 

The Securities may be issued from time to time in one or more series. With respect to the Securities of any particular series, there
shall be established in, or pursuant to the authority granted in, a resolution of the Board of Directors, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental hereto prior to the issuance of
Securities of a series: 
 (a) the form of the Securities of the series; 

 

 14 

 (b) the title of the Securities of the series (which shall distinguish the Securities of the
series from all other Securities); 
 (c) any limit upon the aggregate principal amount of the Securities of the series that 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 Company or exchange for Securities of another issuer
pursuant to its terms, or pursuant to or as contemplated by the terms of such Securities); 
 (d) the date or dates on which the
Securities of the series may be issued; 
 (e) the date or dates, which may be serial, on which the principal of, and premium,
if any, on, the Securities of the series are payable; 
 (f) the rate or rates, or the method of determination thereof, at which
the Securities of the series shall bear interest, if any, the rate or rates and the extent to which Additional Interest, if any, shall be payable in respect of such Securities, the date or dates, if any, from which such interest shall accrue or the
method or methods, if any, by which such date or dates are to be determined, the Interest Payment Dates, if any, on which such interest shall be payable on a cash basis and the Regular Record Date, if any, for the interest payable on Registered
Securities on any Interest Payment Date, the right, pursuant to Section 3.13 hereof or as otherwise set forth therein, of the Company to defer or extend an interest payment period and the duration of any such Extension Period, including the
maximum consecutive period during which interest payment periods may be extended, whether and under what circumstances Additional Amounts on such Securities or any of them shall be payable, any Overdue Rate (including the rate or rates at which
overdue principal shall bear interest, if different from the rate or rates at which such Securities shall bear interest prior to Maturity, and, if applicable, the rate or rates at which overdue premium or interest shall bear interest, if any); any
formula or other method or other means by which any such rate or rates shall be determined, by reference to an index or other fact or event ascertainable outside this Indenture or otherwise; the date or dates from which such interest shall accrue
the method or methods, if any, by which such date or dates are to be determined, the Interest Payment Dates on which such interest shall be payable and the Regular Record Date, if other than as set forth in Section 3.8, for the determination of
Holders to whom interest is payable, whether and under what circumstances Additional Amounts on such Securities or any of them shall be payable, the notice, if any, to Holders regarding the determination of interest on a floating rate Security, and
the manner of giving such notice, and the basis upon which interest shall be calculated if other than that of a 360-day year of twelve 30-day months; 

(g) the place or places where the principal of, and premium, if any, and interest on or Additional Amounts, if any, with respect to such
Securities of the series shall be payable (if other than as provided in Section 4.2); 
  

 15 

 (h) the provisions, if any, establishing the price or prices at which, the date or dates on
which, the period or periods within 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 Company, pursuant to any sinking fund or otherwise; 

(i) the obligation, if any, of the Company to redeem, purchase or repay Securities of the series pursuant to any sinking fund or
analogous provisions or at the option of a Holder thereof and the price or prices at which, the date or dates on which, and the period or periods within which, and the terms and conditions upon which, Securities of the series shall be redeemed,
purchased or repaid, in whole or in part, pursuant to such obligation and any provisions for the remarketing of such Securities so redeemed or purchased; 

(j) if other than denominations of $1,000, and any integral multiple thereof, the denominations in which Securities of the series shall
be issuable; 
 (k) whether the Securities of the series will be convertible into other securities of the Company and/or
exchangeable for securities of another issuer, and, if so, the terms and conditions upon which such Securities will be so convertible or exchangeable, and any deletions from or modifications or additions to this Indenture to permit or to facilitate
the issuance of such convertible or exchangeable Securities or the administration thereof; 
 (l) whether the Securities of the
series are to be issued as Original Issue Discount Securities and, if so, the amount of the discount with respect thereto; 

(m) if other than the principal amount thereof, the portion of the principal amount of the Securities of the series which shall be
payable upon declaration of acceleration with respect thereto pursuant to Section 6.1 or payable in bankruptcy pursuant to Section 6.2; 

(n) the relative degree, if any, to which Securities of such series shall be senior to or be subordinated to other series of Securities
in respect thereof or other Indebtedness of the Company in right of payment, whether such other series of Securities or other Indebtedness is outstanding or not; 

(o) any Events of Default or restrictive covenants provided for with respect to the Securities of the series, if other than as set forth
in Section 6.1, ARTICLE 4 and ARTICLE 11; 
 (p) in case the Securities of the series do not bear interest, the applicable
dates for the purpose of Section 3.8; 
 (q) whether either or both of Section 12.2(b) relating to defeasance or
Section 12.2(c) relating to covenant defeasance shall not be applicable to the Securities of such series, or any covenants in addition to those specified in Section 12.2(c) relating to the Securities of such series which shall be subject
to covenant defeasance, and any deletions from, or modifications or additions to, the provisions of ARTICLE 12 in respect of the Securities of such series; 

(r) any trustees, paying agents, transfer agents or registrars with respect to the Securities of the series; 

 

 16 

 (s) whether the Securities of the series are issuable in whole or in part as one or more
Global Securities and, in such case, the identity of the Depositary for such Global Security or Global Securities; 
 (t) the
extent to which, or the manner in which, any interest payment or Additional Amounts on a Global Security on an Interest Payment Date will be paid and the manner in which any principal or premium, if any, on any Global Security will be paid;

 (u) any restrictions on transfer with respect to the Securities of the series and any legend reflecting such restrictions to
be placed on such Securities; 
 (v) the form or forms of the Trust Agreement (if different from the form attached hereto as
Annex A), Amended and Restated Trust Agreement and Guarantee Agreement; 
 (w) if the amount of payment of principal of, and
premium, if any, or interest on or Additional Amounts, if any, with respect to such Securities of the series may be determined with reference to an index, formula or other method, and, if so, the terms and conditions upon which and the manner in
which such amounts shall be determined; 
 (x) any exceptions to Section 15.9 or in the definition of “Business
Day” with respect to the Securities of the series; 
 (y) if other than U.S. dollars, the Foreign Currency in which the
Securities of such series shall be denominated and in which payments or principal of, and any premium or interest on or Additional Amounts with respect to, such Securities shall or may be payable; 

(z) if the principal of, any premium or interest on or any Additional Amounts with respect to any of such Securities are to be payable,
at the election of the Company or a Holder thereof or otherwise, in Dollars or in a Foreign Currency other than that in which such Securities are stated to be payable, the date or dates on which, the period or periods within which, and the other
terms and conditions upon which, such election may be made, and the time and manner of determining the exchange rate between the Currency in which such Securities are stated to be payable and the Currency in which such Securities or any of them are
to be paid pursuant to such election, and any deletions from or modifications of or additions to the terms of this Indenture to provide for or to facilitate the issuance of Securities denominated or payable, at the election of the Company or a
Holder thereof or otherwise, in a Foreign Currency; and 
 (aa) any other terms of the series and any other modifications or
additions to this Indenture in respect of such Securities (which terms shall not be contrary to the provisions of this Indenture). 

With respect to Securities of a series subject to a Periodic Offering, such resolution of the Board of Directors or indenture
supplemental hereto may provide general terms or parameters and may provide that the specific terms of particular Securities, and the Persons authorized to determine such terms or parameters, may be determined in accordance with or pursuant to the
Company Order referred to in Section 3.1. 
  

 17 

 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 the authority granted in, such resolution of the Board of Directors or in any such indenture supplemental hereto. 

Anything herein to the contrary notwithstanding, the Trustee shall be under no obligation to authenticate and deliver Securities of any
series the terms of which, established as contemplated by this Section, would affect the rights, duties, obligations, liabilities or immunities of the Trustee under this Indenture. 

Section 3.2 Form and Denominations. In the absence of any specification pursuant to Section 3.1 with respect to the
Securities of any series, the Securities of such series shall be issuable in fully registered form, without coupons, in denominations of $1,000 and any integral multiple thereof. 

Section 3.3 Authentication, Dating and Delivery of Securities. At any time and from time to time after the original execution
and delivery of this Indenture, the Company may deliver Securities of any series, executed by the Company, to the Trustee for authentication. Except as otherwise provided in this Article, the Trustee shall thereupon authenticate and make available
for delivery, or cause to be authenticated and delivered, said Securities to or upon a Company Order, without any further action by the Company; provided, however, that the Trustee shall authenticate and make available for delivery Securities of
such series for original issue from time to time in the aggregate principal amount established for such series pursuant to such procedures, acceptable to the Trustee and to such recipients, as may be specified from time to time by a Company Order.
The maturity dates, original issue dates, interest rates and any other terms of the Securities of such series shall be determined by or pursuant to such Company Order and procedures. If provided for in such procedures, such Company Order may
authorize authentication and delivery pursuant to oral instructions from the Company or its duly authorized agent, which instructions shall be promptly confirmed in writing. 

In authenticating such Securities and accepting the responsibilities under this Indenture in relation to such Securities, the Trustee
shall be provided with, prior to the initial authentication of such Securities, and (subject to Section 7.1) shall be fully protected in relying upon: 

(a) a Board Resolution relating thereto; 

(b) an Officer’s Certificate or an executed supplemental indenture setting forth the terms of such Securities as provided in
Section 3.1; 
 (c) an Officer’s Certificate, which shall state that all conditions precedent provided for in this
Indenture relating to the issuance of such Securities have been complied with, that no Event of Default with respect to any series of Securities has occurred and is continuing and that the issuance of such Securities does not constitute and will not
result in (i) any Event of Default or any event or condition, which, upon the giving of notice or the lapse of time or both, would become an Event of Default or (ii) any default under the provisions of any other instrument or agreement by
which the Company is bound; and 
  

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 (d) an Opinion of Counsel, which shall state: 

(i) that the form and the terms of such Securities have been duly authorized by the Company and have been established in
conformity with the provisions of this Indenture; 
 (ii) that such Securities, when authenticated and delivered
by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and binding obligations of the Company enforceable in accordance with their terms, except to the extent
enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, arrangement, fraudulent conveyance, fraudulent transfer and other similar laws affecting the enforcement of creditors’ rights generally and by
general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at law); 

(iii) that no consent, approval, authorization, order, registration or qualification of or with any court or any
governmental agency or body having jurisdiction over the Company is required for the execution and delivery of such Securities by the Company, except such as have been obtained (and except that no opinion need be expressed as to state securities or
“blue sky” laws); and 
 (iv) all applicable laws and requirements in respect of the execution and
delivery by the Company of such Securities have been complied with. 
 Notwithstanding the provisions of Section 3.1 and of
the immediately preceding paragraph, with respect to Securities of a series subject to a Periodic Offering, the Trustee shall be provided with the Officer’s Certificate otherwise required pursuant to Section 3.3(c) and the Opinion of
Counsel required by this Section 3.3(d) only once at or prior to the time of the first authentication and delivery of such Securities (provided that such Opinion of Counsel addresses the authentication and delivery of all such Securities) and
that, in lieu of the opinions described in clauses (ii) and (iii) above, Counsel may opine that: 
 (x) when the terms
of such Securities shall have been established pursuant to a Company Order or Orders or pursuant to such procedures as may be specified from time to time by a Company Order or Orders, all as contemplated by and in accordance with the instrument or
instruments delivered pursuant to clause (i) above, such terms will have been duly authorized by the Company and will have been established in conformity with the provisions of this Indenture; and 

(y) when such Securities shall have been authenticated and delivered by the Trustee in accordance with this Indenture and the Company
Order or Orders or the specified procedures referred to in paragraph (x) above and issued and delivered by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, such Securities will constitute valid
obligations of the Company enforceable in accordance with their terms except to the extent enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting the enforcement of creditors
rights generally and by the effect of general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at law). 
  

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 With respect to Securities of a series subject to a Periodic Offering, the Trustee may
conclusively rely, as to the authorization by the Company of any of such Securities, the forms and terms thereof, the validity thereof and the compliance of the authentication and delivery thereof with the terms and conditions of this Indenture,
upon the Opinion or Opinions of Counsel, the Officer’s Certificate and the certificates and other documents delivered pursuant to this Section 3.3 at or prior to the time of the first authentication and delivery of Securities of such
series until any of such opinions, certificates or other documents have been superseded or revoked or expire by their terms; provided, however, that any request by the Company to the Trustee to authenticate and deliver Securities of such series
shall constitute a representation and warranty by the Company that as of the date of such request the statements made in the most recent Officer’s Certificate delivered pursuant to Section 3.3(c) are true and correct as if made on and as
of the date thereof. 
 The Trustee shall have the right to decline to authenticate and make available for delivery any
Securities under this Section if the Trustee, being advised by counsel, determines that such action would expose the Trustee to personal liability. 

Each Security shall be dated the date of its authentication, except as otherwise provided pursuant to Section 3.1 with respect to
the series of which such Security is a part and except that any substitute Security under Section 3.7 shall be dated so that neither gain nor loss in interest shall result from any mutilation, destruction, loss or theft of the relevant
Predecessor Security. 
 Section 3.4 Execution of Securities. The Securities shall be signed in the name of and on
behalf of the Company by both (a) its chairman or deputy chairman or president or any vice president and (b) its treasurer, any assistant treasurer, its secretary or any assistant secretary, which may, but need not, be attested. Such
signatures may be the manual or facsimile signatures of such officers. Typographical and other minor errors or defects in any such signature shall not affect the validity or enforceability of any Security that has been duly authenticated and
delivered by the Trustee. 
 In case any officer of the Company who shall have signed any of the Securities shall cease to be
such officer before the Security so signed shall be authenticated and delivered by or on behalf of the Trustee or disposed of by the Company, such Securities nevertheless may be authenticated and delivered or disposed of as though the Person who
signed such Securities had not ceased to be such officer of the Company; and any Security may be signed on behalf of the Company by such Persons as, at the actual date of the original execution of such Security, shall be the proper officers of the
Company, although at the date of the original execution and delivery of this Indenture, or at the date of such Security, any such Person was not such an officer. 

Section 3.5 Certificate of Authentication. No Security shall be entitled to the benefits of this Indenture or be valid or
obligatory for any purpose, unless there appears on such Security a certificate of authentication substantially in the form hereinbefore recited, executed by or on behalf of the Trustee by manual signature. Such certificate by or on behalf of the
Trustee upon any Security executed by the Company shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of this Indenture. 

 

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 Section 3.6 Registration, Registration of Transfer and Exchange. Subject to the
conditions set forth below (and subject, with respect to Global Securities, to Section 2.4), Securities of any series may be exchanged for a like aggregate principal amount of Securities of the same series and having the same terms but in other
authorized denominations. Securities to be exchanged shall be surrendered at the offices or agencies to be maintained for such purposes as provided in Section 4.2, and the Company shall execute and the Trustee or any Authenticating Agent shall
authenticate and make available for delivery in exchange therefor the Security or Securities which the Holder making the exchange shall be entitled to receive. 

The Company shall keep or cause to be kept, at one of said offices or agencies maintained pursuant to Section 4.2, a register for
each series of Securities issued hereunder (hereinafter collectively referred to as the “Securities Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall, subject to the provisions of
Section 2.4, provide for the registration of Securities of such series and shall register the transfer of Securities of such series as in this Article provided. The Securities Register shall be in written form or in any other form capable of
being converted into written form within a reasonable time. The Trustee is hereby appointed as the initial “Securities Registrar” for the purpose of registering Securities and registering transfers of Securities as herein provided. Subject
to the provisions of Section 2.4, upon surrender for registration of transfer of any Security of any series at any such office or agency, the Company shall execute and the Trustee or any Authenticating Agent shall authenticate and make
available for delivery in the name of transferee or transferees a new Security or Securities of the same series for an equal aggregate principal amount. 

The Company shall have the right to remove and replace from time to time the Security Registrar for any series of Securities; provided
that no such removal or replacement shall be effective until a successor Security Registrar with respect to such series of Securities shall have been appointed by the Company and shall have accepted such appointment by the Company. In the event that
the Trustee shall not be or shall cease to be Security Registrar with respect to a series of Securities, it shall have the right to examine the Security Register for such series at all reasonable times. There shall be only one Security Register for
each series of Securities. 
 All Securities presented for registration of transfer or for exchange, redemption or payment shall
(if so required by the Company or the Securities Registrar) be duly endorsed by, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and the Securities Registrar duly executed by, the Holder
thereof or his attorney duly authorized in writing. 
 Each Security issued upon registration of transfer or exchange of
Securities pursuant to this Section shall be the valid obligation of the Company, evidencing the same indebtedness and entitled to the same benefits under this Indenture as the Security or Securities surrendered upon registration of such transfer or
exchange. 
 No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may
require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 3.10, Section 10.6 or
Section 16.3 not involving any transfer. 
  

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 The Company shall not be required (a) to issue, exchange or register the transfer of
any Securities of any series during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of Securities of such series and ending at the close of business on the day of such mailing, or
(b) to exchange or register the transfer of any Securities selected, called or being called for redemption except, in the case of any Security to be redeemed in part, the portion thereof not to be redeemed. 

Section 3.7 Mutilated, Destroyed, Lost and Stolen Securities. In case any temporary or definitive Security shall become
mutilated (whether by defacement or otherwise) or be destroyed, lost or stolen, and in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall, except as otherwise provided
in this Section, execute, and upon a Company Request, the Trustee shall authenticate and make available for delivery, a new Security of the same series, tenor and principal amount, bearing a number, letter or other distinguishing symbol not
contemporaneously outstanding, in exchange and substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the
Company and to the Trustee and any agent of the Company or the Trustee such security or indemnity as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the
Company and the Trustee and any agent of the Company or the Trustee evidence to their satisfaction of the destruction, loss or theft of such Security and of the ownership thereof. 

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

In case any Security which has matured or is about to mature or has been called for redemption in full shall become mutilated or be
destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated Security). In every case, the applicant for such payment
shall furnish to the Company and to the Trustee and any agent of the Company or the Trustee such security or indemnity as any of them may require to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall
also furnish to the Company and the Trustee and any agent of the Company or the Trustee evidence to their satisfaction of the destruction, loss or theft of such Security and of the ownership thereof. 

Every substitute Security of any series issued pursuant to the provisions of this Section by virtue of the fact that any such Security is
destroyed, lost or stolen shall constitute an additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone and shall be entitled to all the benefits of (but shall
be subject to all the limitations of rights set forth in) this Indenture equally and proportionately with any and all other Securities of such series duly authenticated and delivered hereunder. All Securities shall be held and owned upon the express
condition that, to the extent permitted by law, the foregoing provisions of this Section are exclusive with respect to the replacement or payment of mutilated (whether by defacement or otherwise) or destroyed, lost or stolen Securities and shall
preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender.

  

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 Section 3.8 Payment of Interest and Certain Additional Amounts; Interest Rights and
Certain Additional Amounts Preserved. The Holder of any Securities at the close of business on the Regular Record Date with respect to any Interest Payment Date shall be entitled to receive the interest, if any, and any Additional Amounts
payable on such Interest Payment Date notwithstanding the cancellation of such Securities upon any registration of transfer or exchange subsequent to the Regular Record Date and prior to such Interest Payment Date, and, if provided for in the Board
Resolution or supplemental indenture pursuant to Section 3.1, in the case of a Security issued between a Regular Record Date and the initial Interest Payment Date relating to such Regular Record Date, interest for the period beginning on the
date of issue and ending on such initial Interest Payment Date shall be paid to the Person to whom such Security shall have been originally issued. Except as otherwise specified as contemplated by Section 3.1, for Securities of a particular
series the term “Regular Record Date” as used in this Section with respect to any Interest Payment Date shall mean the close of business on the last day of the calendar month preceding such Interest Payment Date if such Interest Payment
Date is the fifteenth day of a calendar month and shall mean the close of business on the fifteenth day of the calendar month preceding such Interest Payment Date if such Interest Payment Date is the first day of a calendar month, whether or not
such day shall be a Business Day. At the option of the Company, payment of interest on any Security may be made by check mailed to the address of the Person entitled thereto (which shall be the Depositary in the case of Global Securities) as such
address shall appear in the Securities Register. 
 If and to the extent the Company shall default in the payment of the
interest due or any Additional Amounts on such Interest Payment Date in respect of any Securities, such defaulted interest shall be paid by the Company at its election in each case, as provided in clause (a) or (b) below: 

(a) The Company may make payment of any defaulted interest to the Holder of Securities at the close of business on a Special Record Date
established by notice given by mail, by or on behalf of the Company, to such Holder not less than 15 days preceding such Special Record Date, such Special Record Date to be not less than 10 days preceding the date for payment of such defaulted
interest. 
 (b) The Company 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 the Securities of such series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the
proposed payment pursuant to this clause, such 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. 
  

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 Section 3.9 Cancellation of Securities; Destruction Thereof. All Securities
surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company or any Paying Agent or any Securities Registrar, be
delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Indenture. All cancelled
Securities held by the Trustee shall be disposed of by the Trustee in accordance with its customary procedures, unless by a company order the Company directs their return to it. If the Company shall acquire any of the Securities, such acquisition
shall not operate as a redemption or satisfaction of the indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 

Section 3.10 Temporary Securities. Pending the preparation by the Company of definitive Securities of any series, the Company
may execute and the Trustee shall authenticate and make available for delivery in the manner provided in Section 3.3, temporary Securities for such series (printed, lithographed, typewritten or otherwise reproduced, in each case in form
satisfactory to the Trustee). Temporary Securities of any series shall be issuable in any authorized denomination, and substantially in the form of the definitive Securities of such series in lieu of which they are issued but with such omissions,
insertions and variations as may be appropriate for temporary securities, all as may be determined by the Company with the concurrence of the Trustee. Temporary Securities may contain such reference to any provisions of this Indenture as may be
appropriate. Every temporary Security shall be executed by the Company and be authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities. Without unreasonable delay
the Company shall execute and shall furnish definitive Securities of such series and thereupon temporary Securities of such series may be surrendered in exchange therefor without charge at the Corporate Trust Office of the Trustee, and the Trustee
shall authenticate and make available for delivery in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of the same series. Such exchange shall be made by the Company at its own expense and without
any charge therefor except that in case of any such exchange involving any registration of transfer the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto. 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 authenticated and delivered hereunder. 

Section 3.11 Computation of Interest. Except as otherwise specified as contemplated by Section 3.1 for Securities of any
series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months. 

Section 3.12 CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers (if then generally in
use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders as set forth in Section 16.2. The Company shall notify the Trustee in writing of any change in “CUSIP” numbers.

 Section 3.13 Extension of Interest Payment Period. If specified as contemplated by Section 3.1 with respect
to the Securities of a particular series and subject to the terms, conditions and covenants, if any, so specified, the Company shall have the right, at any time and 

 

 24 

 
from time to time during the term of such series, to defer the payment of interest on such Securities for such period or periods as may be specified as contemplated by Section 3.1 (each, an
“Extension Period”), during which Extension Periods the Company shall have the right to make no payments or partial payments of interest on any Interest Payment Date. No Extension Period shall end on a day other than an Interest Payment
Date. At the end of any such Extension Period, the Company shall pay all interest then accrued and unpaid on the Securities (together with Additional Interest thereon, if any, at the rate specified for the Securities of such series to the extent
permitted by applicable law). Prior to the termination of any such Extension Period, the Company may further extend the interest payment period, provided that no Extension Period shall exceed the period or periods specified in such Securities or
extend beyond the Stated Maturity of the principal of such Securities. Upon termination of any Extension Period and upon the payment of all accrued and unpaid interest and any Additional Interest then due on any Interest Payment Date, the Company
may elect to begin a new Extension Period, subject to the above requirements. No interest shall be due and payable during an Extension Period, except at the end thereof. 

The Company shall give the Holders of the Securities of such series and the Trustee written notice of its election to begin any such
Extension Period at least one Business Day prior to the Interest Payment Date or, with respect to the Securities of a series issued to a Alterra Capital Trust, prior to the earlier of (i) the date the Distributions on the Preferred Securities
of such Alterra Capital Trust are payable or (ii) the date the trustees of such Alterra Capital Trust are required to give notice to any securities exchange or other applicable self-regulatory organization or to holders of such Preferred
Securities of the record date or the date such Distributions are payable, but in any event not less than one Business Day prior to such record date. 

The Trustee shall promptly give notice of the Company’s election to begin any such Extension Period to the Holders of the
outstanding Securities of such series. 
 Section 3.14 Right of Set-Off. With respect to the Securities of a series
issued to a Alterra Capital Trust, notwithstanding anything to the contrary in this Indenture, the Company shall have the right to set-off any payment it is otherwise required to make thereunder in respect of any such Security to the extent the
Company, as applicable, has theretofore made, or is concurrently on the date of such payment making, a payment under the Preferred Securities Guarantee relating to such Security or under Section 6.7 hereof, as applicable. 

Section 3.15 Agreed Tax Treatment. Each Security issued hereunder shall provide that the Company and, by its acceptance of a
Security or a beneficial interest therein, the Holder of, and any Person that acquires a beneficial interest in, such Security agree that for United States Federal, state and local tax purposes it is intended that such Security constitute
indebtedness. 
 Section 3.16 Extension of Stated Maturity; Adjustment of Stated Maturity Upon an Exchange. If
specified as contemplated by Section 3.1 with respect to the Securities of a particular series, the Company shall have the right to (a) change the Stated Maturity of the principal of the Securities of such series upon the liquidation of
the applicable Alterra Capital Trust and the exchange of such Securities for the Preferred Securities of such Alterra Capital Trust, or (b) extend the Stated Maturity of the principal of the Securities of such series; provided that, at the time
any election to extend such Stated Maturity is made and at the time of such 
  

 25 

 
extension, (i) the Company is not in bankruptcy, otherwise insolvent or in liquidation, (ii) the Company is not in default in the payment of any interest or principal or Additional
Amounts on the Securities of such series and no deferred interest payments thereon have accrued, (iii) the applicable Alterra Capital Trust is not in arrears on payments of Distributions on its Preferred Securities and no deferred Distributions
thereon have accumulated, (iv) the Securities of such series are rated not less than BBB- by Standard & Poor’s Ratings Services or Baa3 by Moody’s Investors Service, Inc. or the equivalent by any other nationally recognized
statistical rating organization and (v) the extended Stated Maturity is no later than the 49th anniversary of the initial issuance of the Preferred Securities of the applicable Alterra Capital Trust; provided, further, that, if the Company
exercises its right to liquidate the applicable Alterra Capital Trust and exchange the Securities of such series for the Preferred Securities of such Alterra Capital Trust as specified in clause (a) above, any changed Stated Maturity of the
principal of the Securities of such series shall be no earlier than the date that is five years after the initial issue date of the Preferred Securities and no later than the date 30 years (plus an extended term of up to an additional 19 years if
the above-referenced conditions are satisfied) after the initial issue date of the Preferred Securities of the applicable Alterra Capital Trust. 

ARTICLE 4 

COVENANTS OF THE COMPANY 

The Company covenants and agrees for the benefit of each series of Securities (except to the extent that any series of Securities is
excluded from the benefits of any of such covenants pursuant to Section 3.1(o)) that on and after the date of original execution of this Indenture and so long as any of the Securities of such series remain Outstanding: 

Section 4.1 Payment of Securities. The Company will duly and punctually pay or cause to be paid the principal of any premium
and interest (including any Additional Interest) on, and any Additional Amounts with respect to the Securities of such series at the place or places, at the respective times and in the manner provided in such Securities and in the Indenture.

 Section 4.2 Offices or Agency. The Company will maintain in the Borough of Manhattan, The City of New York, New
York, an office or agency where such Securities may be presented or surrendered for payment, where such Securities may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of such
Securities and this Indenture may be served, which office or agency shall initially be the Corporate Trust Office of the Trustee or, if the Corporate Trust Office of the Trustee is not located in the Borough of Manhattan, The City of New York, such
office or agency shall be the principal corporate trust office of the Authenticating Agent designated pursuant to Section 7.14 hereof. The Company will give prompt written notice to the Trustee of any change in the location of any such office
or agency. If at any time the Company shall fail to maintain such required office or agency or shall fail to furnish the Trustee with the required information with respect thereto, presentations, surrenders, notices and demands in respect of
Securities may be made or served at the Corporate Trust Office of the Trustee and the corporate trust office of any Authenticating Agent appointed hereunder; and the Company hereby appoints the Trustee and any Authenticating Agent appointed
hereunder its agents to receive all such presentations, surrenders, notices and demands. 
  

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 The Company may also from time to time designate one or more other offices or agencies (in
or outside The City of New York) where the Securities of one or more series, or any Tranche thereof may be presented or surrendered for any or all of such purposes, and may from time to time rescind such designation; provided, however, that no such
designation or rescission shall in any manner relieve the Company of its obligation to maintain for such purposes an office or agency in the Borough of Manhattan, The City of New York. The Company will promptly notify the Trustee of any such
designation or rescission thereof. 
 Unless otherwise specified with respect to any Securities pursuant to Section 3.1, if
and so long as the Securities of any series (i) are denominated in a Foreign Currency or (ii) may be payable in a Foreign Currency, or so long as it is required under any other provision of this Indenture, then the Company will maintain
with respect to each such series of Securities, or as so required, at least one exchange rate agent. 
 Section 4.3
Money for Securities Payments to Be Held in Trust. If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it shall, on or before each due date of the principal of, any premium or interest
(including any Additional Interest) on or Additional Amounts with respect to any of the Securities of such series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the currency or currencies, currency unit or
units or composite currency or currencies in which the Securities of such series are payable (except as otherwise specified pursuant to Section 3.1 for the Securities of such series) sufficient to pay the principal or any premium, interest
(including any Additional Interest) or Additional Amounts so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and shall promptly notify the Trustee in writing of its action or failure so to act.

 Whenever the Company shall have one or more Paying Agents for any series of Securities, it shall, on or prior to each due
date of the principal of, any premium or interest (including any Additional Interest) on or any Additional Amounts with respect to any Securities of such series, deposit with any Paying Agent a sum (in the currency or currencies, currency unit or
units or composite currency or currencies described in the preceding paragraph) sufficient to pay the principal and any premium, interest (including any Additional Interest) or Additional Amounts so becoming due, such sum to be held in trust for the
benefit of the Persons entitled thereto, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee in writing of its action or failure so to act. 

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

(a) hold all sums held by it for the payment of the principal of, any premium or interest (including any Additional Interest) on or any
Additional Amounts with respect to Securities of such series or Tranche in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as provided in or pursuant to this Indenture;

  

 27 

 (b) give the Trustee notice of any default by the Company (or any other obligor upon the
Securities of such series) in the making of any payment of principal of, any premium or interest (including any Additional Interest) on or any Additional Amounts with respect to the Securities of such series; and 

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

Anything in this Section to the contrary notwithstanding, the agreement to hold sums in trust as provided in this Section is subject to
the provisions of Section 12.3, Section 12.4 and Section 12.5. 
 Section 4.4 Additional Amounts. If
any Securities of a series provide for the payment of Additional Amounts, the Company agrees to pay to the Holder of any such Security Additional Amounts as provided in or pursuant to this Indenture or such Securities. 

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

Except as otherwise provided in or pursuant to this Indenture or the Securities of the applicable series, if the Securities of agencies
provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment Date with respect to such series of Securities (or if the Securities of such series shall not bear interest prior to Maturity, the first day on which
a payment of principal is made), and at least 10 days prior to each date of payment of principal or interest if there has been any change with respect to the matters set forth in the below-mentioned Officer’s Certificate, the Company shall
furnish to the Trustee and the principal Paying Agent or Paying Agents, if other than the Trustee, an Officer’s Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and premium or
interest, if any, on the Securities of such series shall be made to Holders of Securities of such series who are United States Aliens without withholding for or on account of any tax assessment or other governmental charge described in the
Securities of such series. If any such withholding shall be required, then such Officer’s Certificate shall specify by country the amount, if any, required to 

 

 28 

 
be withheld on such payments to such Holders of Securities and the Company agrees to pay to the Trustee or such Paying Agent the Additional Amounts required by the terms of such Securities. The
Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any loss, liability or expense reasonably incurred without negligence or bad faith on their part arising out of or in connection with actions
taken or omitted by any of them in reliance on any Officer’s Certificate furnished pursuant to this Section 4.4. 

Section 4.5 Redemption for Tax Purposes. The Company may redeem the Securities at its option, in whole but not in part, at a
Redemption Price equal to 100% of the principal amount, together with accrued and unpaid interest and Additional Amounts, if any, to the date fixed for redemption, at any time it receives an opinion of counsel that as a result of (i) any change
in or amendment to the laws or treaties (or any regulations or rulings promulgated under these laws or treaties) of Bermuda or any taxing jurisdiction (or of any political subdivision or taxation authority affecting taxation) or any change in the
application or official interpretation of such laws, regulations or rulings, or (ii) any action taken by a taxing authority of Bermuda or any taxing jurisdiction (or any political subdivision or taxing authority affecting taxation) which action
is generally applied or is taken with respect to the Company, or (iii) a decision rendered by a court of competent jurisdiction in Bermuda or any taxing jurisdiction (or any political subdivision) whether or not such decision was rendered with
respect to the Company, there is a substantial probability that the Company will be required as of the next Interest Payment Date to pay Additional Amounts with respect to the Securities as provided in Section 4.4 and such requirements cannot
be avoided by the use of reasonable measures (consistent with practices and interpretations generally followed or in effect at the time such measures could be taken) then available. If the Company elects to redeem the Securities under this provision
it will give written notice of such election to the Trustee. If the Company elects to redeem the Securities under this provision it will also mail a notice of redemption at least 30 days but no more than 60 days before the Redemption Date to each
Holder of the Securities to be redeemed. Unless the Company defaults in the payment of the Redemption Price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions thereof called for redemption. Any such
redemption will be subject to ARTICLE 16 hereof. 
 Section 4.6 Corporate Existence. Subject to ARTICLE 11, the
Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its legal existence and rights (charter and statutory) and franchises; provided, however, that the foregoing shall not obligate the Company to
preserve any such right or franchise if the Company shall determine that the preservation thereof is no longer desirable in the conduct of its business and that the loss thereof is not disadvantageous in any material respect to any Holder.

 Section 4.7 Waiver of Certain Covenants. The Company may omit in any particular instance to comply with any term,
provision or condition set forth in Section 3.1(o) and Article IV 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, by act of such Holders, either shall waive such compliance in such instance or generally shall have waived compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or condition
except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect.

  

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 Section 4.8 Certificates to Trustee. The Company will deliver to the Trustee,
within 120 days after the end of each fiscal year of the Company ending after the date hereof, a certificate, signed by the principal executive officer, principal financial officer or principal accounting officer, stating whether or not to the best
knowledge of the signer thereof the Company is in default (without regard to periods of grace or requirements of notice) in the performance and observance of any of the terms, provisions and conditions hereof, and if the Company shall be in default,
specifying all such defaults and the nature and status thereof of which they may have knowledge. 
 The Company shall deliver to
the Trustee, within five days after becoming aware of the occurrence thereof, written notice of any Event of Default or any event which after notice or lapse of time or both would become an Event of Default. 

Section 4.9 Calculation of Original Issue Discount. The Company shall deliver to the Trustee promptly at the end of each
calendar year (i) a written notice specifying the amount of original issue discount (including daily rates and accrual periods) accrued on any Outstanding Original Issue Discount Securities as of the end of such year and (ii) such other
specific information relating to such original issue discount as may then be relevant under the Code, as amended from time to time. 

Section 4.10 Additional Sums. In the case of Securities of a series issued to a Alterra Capital Trust, except as otherwise
specified as contemplated by Section 3.1, in the event that (i) such Alterra Capital Trust is the Holder of all of the Outstanding Securities of such series, (ii) a Tax Event in respect of such Alterra Capital Trust shall have
occurred and be continuing and (iii) the Company shall not have (i) redeemed the Securities of such series pursuant to Section 16.4 or (ii) terminated such Alterra Capital Trust pursuant to Article VIII of the related Trust
Agreement, the Company shall pay to such Alterra Capital Trust (and its permitted successors or assigns under the related Trust Agreement), for so long as such Alterra Capital Trust (or its permitted successor or assignee) is the registered holder
of any Securities of such series, such additional amounts as may be necessary in order that the amount of Distributions then due and payable by such Alterra Capital Trust on the related Preferred Securities and Common Securities that at any time
remain outstanding in accordance with the terms thereof shall not be reduced as a result of any Additional Taxes (the “Additional Sums”). Whenever in this Indenture there is mentioned, in any context, the payment of the principal of or any
premium or interest on, or in respect of, any Security of any series or any Coupon or the net proceeds received on the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment of Additional Sums
provided by the terms of such series established hereby or pursuant hereto to the extent that, in such context, Additional Sums are, were or would be payable in respect thereof pursuant to such terms, and express mention of the payment of Additional
Sums (if applicable) in any provision hereof shall not be construed as excluding Additional Sums in those provisions hereof where such express mention is not made; provided, however, that the extension of an interest payment period pursuant to
Section 3.13 or the terms of the applicable Securities shall not extend the payment of any Additional Sums that may be due and payable during such interest payment period. 

 

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 Section 4.11 Payment of Expenses of Each Alterra Capital Trust. The Company
covenants for the benefit of the Holders of each series of Securities to pay or cause to be paid all of the obligations, costs and expenses of each Alterra Capital Trust (other than payments in respect of Trust Securities) in accordance with the
provisions of its Trust Agreement and to pay the taxes of such Alterra Capital Trust in accordance with the provisions of its Trust Agreement in order to permit such Alterra Capital Trust to make distributions on and redemptions of its Preferred
Securities in accordance with such Trust Agreement. 
 Section 4.12 Ownership of Common Securities. The Company
covenants, as to each series of Securities issued to a Alterra Capital Trust in connection with the issuance of Preferred Securities and Common Securities by that Alterra Capital Trust, (a) to maintain directly or indirectly 100% ownership of
the Common Securities of such Alterra Capital Trust; provided, however, that any permitted successor of the Company hereunder may succeed to the Company’s ownership of such Common Securities, (b) not to voluntarily dissolve, wind-up or
liquidate such Alterra Capital Trust, except in connection with (i) a distribution of the Securities of such series to the holders of Preferred Securities and Common Securities in liquidation of such Alterra Capital Trust, (ii) the
redemption of all of the Preferred Securities and Common Securities of such Alterra Capital Trust or (iii) certain mergers, consolidations or amalgamations, each as permitted by the Trust Agreement of such Alterra Capital Trust and (c) to
use its reasonable efforts, consistent with the terms and provisions of the related Trust Agreement, to cause such Alterra Capital Trust to remain classified as a grantor trust and not an association taxable as a corporation for United States
federal income tax purposes. 
 ARTICLE 5 

SECURITYHOLDER LISTS AND 

REPORTS BY THE COMPANY AND THE TRUSTEE 

Section 5.1 Company to Furnish Trustee Information as to Names and Addresses of Securityholders. If and so long as the
Trustee shall not be the Security registrar for the Securities of any series, the Company and any other obligor on the Securities will furnish or cause to be furnished to the Trustee a list in such form as the Trustee may reasonably require of the
names and addresses of the Holders of the Registered Securities of such series pursuant to Section 312 of the Trust Indenture Act (1) semi-annually not more than 5 days after each record date for the payment of interest on such Registered
Securities, as hereinabove specified, as of such record date and on dates to be determined pursuant to Section 2.3 for non-interest bearing Registered Securities in each year, and (2) at such other times as the Trustee may request in
writing, within 30 days after receipt by the Company of any such request as of a date not more than 15 days prior to the time such information is furnished. 

Section 5.2 Preservation and Disclosure of Securityholder Lists. 

(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 4.1 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar or paying agent. The Trustee may destroy any list furnished to it as
provided in Section 4.1 upon receipt of a new list so furnished. 
  

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 (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 privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

(c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor
the Trustee nor any agent of any of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders in accordance with Sections 4.1 and 4.2(2), regardless of the source from which such
information was derived, and that the Trustee shall not be held accountable by reason of mailing any material pursuant to a request made under Section 4.2(2). 

Section 5.3 Reports by the Company. The Company shall provide to the Trustee, within 15 days after it files such annual and
quarterly reports, information, documents and other reports with the Commission, copies of its annual report and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may by rules and
regulations prescribe) which the Company is required to file with the Commission pursuant to Section 13 or 15(d) of the Exchange Act. 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 Company’s compliance with any of its covenants hereunder (as to which
the Trustee is entitled to rely exclusively on Officer’s Certificates). The Trustee shall be under no obligation to analyze or make any credit decisions with respect to reports or other information received by it pursuant to this section, but
shall hold such reports and other information solely for the benefit of, and review by, the security holders. 

Section 5.4 Reports by the Trustee. 

(a) Within 60 days after May 15 in each year following the date of original execution of this Indenture, so long as any Securities
are Outstanding hereunder, the Trustee shall transmit by mail (with a copy to the Company) to the Securityholders of such series in the manner and to extent provided in Trust Indenture Act Section 313(c), a brief report, as provided by the
Trust Indenture Act Sections 313(a) and (b). 
 (b) A copy of each such report shall, at the time of such transmission to the
Securityholders of any series, be furnished to the Company and be filed by the Trustee with each securities exchange upon which the Securities of such series are listed and also with the Commission. The Company agrees to notify the Trustee promptly
when and as the Securities of any series become admitted to trading on any national securities exchange. 
 ARTICLE 6 

 REMEDIES OF THE TRUSTEE AND 

SECURITYHOLDERS ON EVENT OF DEFAULT 

Section 6.1 Event of Default Defined; Acceleration of Maturity; Waiver of Default. “Event of Default,” with respect
to the Securities of any series, wherever used herein, means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected

  

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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), unless it is either inapplicable to a
particular series or it is specifically deleted or modified in the applicable resolution of the Board of Directors or in the supplemental indenture under which such series of Securities is issued, as the case may be, as contemplated by
Section 3.1: 
 (a) default in the payment of any interest on any of the Securities of such series, as and when the same
shall become due and payable, and continuance of such default for a period of 30 days and the time for payment of such interest has not been extended; provided, however that if the Company is permitted by the terms of the Securities of the
applicable series to defer the payment in question, the date on which such payment is due and payable shall be the date on which the Company is required to make payment following such deferral, if such deferral has been elected pursuant to the terms
of the Securities of that series (subject to any deferral of any due date in the case of an Extension Period); or 
 (b) default
in the payment of the principal of or premium, if any, on any of the Securities of such series as, or any Additional Amounts payable with respect thereto, and when the same shall become due and payable at Maturity, and the time for payment of such
principal (or premium, if any), or any Additional Amounts payable with respect thereto, has not been extended; provided, however, that if the Company is permitted by the terms of the Securities of the applicable series to defer the payment in
question, the date on which such payment is due and payable shall be the date on which the Company is required to make payment following such deferral, if such deferral has been elected pursuant to the terms of the Securities of that series; or

 (c) default in the performance or breach of any other covenant or warranty of the Company in respect of the Securities of
such series (other than a covenant or warranty in respect of the Securities of such series a default in whose performance or observance is elsewhere in this Section specifically dealt with), and continuance of such default for a period of 90 days
after there has been given, by registered or certified mail, to the Company by the Trustee, or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of all series affected thereby or, if that
series of Securities is held by a Alterra Capital Trust, the holders of at least 25% in liquidation amount of the Preferred Securities of that Alterra Capital Trust then outstanding, a written notice specifying such default and requiring it to be
remedied and stating that such notice is a “Notice of Default” hereunder; or 
 (d) default in the payment at Maturity
of Indebtedness of the Company in excess of $30,000,000 or if any event of default as defined in any mortgage, indenture or instrument under which there may be issued, or by which there may be secured or evidenced, any Indebtedness of the Company
(other than Indebtedness which is non-recourse to the Company) shall happen and shall result in the acceleration of more than $30,000,000 in principal amount of such Indebtedness (after giving effect to any applicable grace period) and such default
shall not be cured or waived or such acceleration shall not be rescinded or annulled within a period of 30 days after there shall have been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by
the Holders of at least 25% in principal amount of the Outstanding Securities of such series or, if that series of Securities is held by a Alterra Capital Trust, the holders of at least 25% in liquidation amount of the Preferred Securities of that
Alterra Capital Trust then outstanding, a written notice specifying such default or event of 
  

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default and requiring the Company to cause such default to be cured or waived or to cause such acceleration to be rescinded or annulled or to cause such Indebtedness to be discharged and stating
that such notice is a “Notice of Default” hereunder; or 
 (e) default in the deposit of any sinking fund payment,
when and as due by the terms of a Security of that series; or 
 (f) a court having jurisdiction in the premises shall enter a
decree or order for relief in respect of the Company in an involuntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or, under any such law, (i) appointing a receiver, liquidator, assignee,
custodian, trustee or sequestrator (or similar official) of the Company or for any substantial part of its property or (ii) ordering the winding up or liquidation of its affairs, and such decree or order shall remain unstayed and in effect for
a period of 120 consecutive days; or 
 (g) the Company shall commence a voluntary case under any applicable bankruptcy,
insolvency or other similar law now or hereafter in effect, or, under any such law, (i) consent to the entry of an order for relief in an involuntary case under any such law, (ii) consent to the appointment or taking possession by a
receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar official) of the Company or for any substantial part of its property, or (iii) make any general assignment for the benefit of creditors; or 

(h) in the event Securities of a series are issued and sold to a Alterra Capital Trust or a trustee of such trust in connection with the
issuance of Preferred Securities by such Alterra Capital Trust, such Alterra Capital Trust shall have voluntarily or involuntarily dissolved, wound-up its business or otherwise terminated its existence except in connection with (i) the
distribution of Securities to holders of Preferred Securities in liquidation or redemption of their interests in such Alterra Capital Trust upon a Tax Event with respect to such Alterra Capital Trust, (ii) the redemption of all of the
outstanding Preferred Securities of such Alterra Capital Trust or (iii) certain mergers, consolidations or amalgamations, each as permitted by the Declaration of such Alterra Capital Trust; or 

(i) any other Event of Default established by or pursuant to a resolution of the Board of Directors or one or more indentures
supplemental hereto as applicable to the Securities of such series. 
 If an Event of Default described in clause (a), (b), (c),
(d), (e), (h) or (i) above occurs and is continuing with respect to Securities of any series at the time Outstanding, the Trustee or the Holders of not less than 25% in aggregate principal amount of the Securities of such series then
Outstanding, by notice in writing to the Company (and to the Trustee if given by Securityholders), may declare the entire principal (or, if the Securities of such series are Original Issue Discount Securities, such portion of the principal as may be
specified in the terms of such series) of all Securities of such series and the interest accrued thereon, if any, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable; provided that, in
the case of Securities of a series issued to a Alterra Capital Trust, if, upon an Event of Default, the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of such series fail to declare the principal of all
the Securities of such 
  

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series to be immediately due and payable, the holders of at least 25% in liquidation amount of the Preferred Securities of such Alterra Capital Trust then outstanding shall have such right by a
notice in writing to the Company, the Trustee and the Institutional Trustee; and upon any such declaration such principal or such lesser amount and all accrued and unpaid interest (including any Additional Interest) thereon shall become immediately
due and payable, provided that the payment of principal and interest and all other amounts due with respect to such Securities shall remain subordinated to the extent provided in ARTICLE 13. 

If any Event of Default described in clause (f) or (g) above occurs and is continuing, all unpaid principal of the Securities
then Outstanding of that series and the interest accrued thereon (including any Additional Interest), if any, shall ipso facto become and be immediately due and payable without declaration, presentment, demand or notice of any kind by the Trustee or
any Holder of Securities of that series. 
 The foregoing provisions, however, are subject to the condition that if, at any time
after a declaration of acceleration with respect to the Securities of any series has been made and before any judgment or decree for the payment of the moneys due shall have been obtained or entered as hereinafter provided, (1) the Company
shall pay or shall deposit with the Trustee a sum sufficient to pay all matured installments of interest, if any, and any Additional Amounts with respect to all the Securities of such series (or upon all the Securities, as the case may be) and the
principal of and premium (including any Additional Interest), if any, on any and all Securities of such series (or of all the Securities, as the case may be) which shall have become due otherwise than by acceleration (with interest upon such
principal and premium, if any, and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest or Additional Amounts, at the Overdue Rate applicable to such series to the date of such payment
or deposit) and all amounts payable to the Trustee pursuant to the provisions of Section 7.6, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and
liabilities incurred, and all advances made, by the Trustee except as a result of negligence or bad faith, if any, and (2) all Events of Default under the Indenture, other than the nonpayment of the principal of and accrued interest on and any
Additional Amounts with respect to Securities of such series which shall have become due by acceleration, shall have been cured, waived or otherwise remedied as provided herein, then and in every such case the Holders of a majority in aggregate
principal amount of the Securities of such series (each series voting as a separate class), or of all the Securities (voting as a single class), as the case may be, then Outstanding (subject to, in the case of any series of Securities held as assets
of a Alterra Capital Trust, such consent of the holders of the Preferred Securities and the Common Securities of such Alterra Capital Trust as may be required under the Trust Agreement of such Alterra Capital Trust), by written notice to the Company
and to the Trustee, may waive all defaults with respect to that series (or with respect to all the Securities, as the case may be) and rescind and annul such acceleration and its consequences, but no such waiver or rescission and annulment shall
extend to or shall affect any subsequent default or shall impair any right consequent thereon. 
 For all purposes under this
Indenture, if a portion of the principal of any Original Issue Discount Security shall have been accelerated and declared or become due and payable pursuant to the provisions hereof, then, from and after such acceleration, unless such acceleration
has been rescinded and annulled, the principal amount of such Original Issue Discount Security shall be 
  

 35 

 
deemed, for all purposes hereunder, to be such portion of the principal thereof as shall be due and payable as a result of such acceleration, and payment of such portion of the principal thereof
as shall be due and payable as a result of such acceleration, together with interest, if any, thereon and all other amounts owing thereunder, shall constitute payment in full of such Original Issue Discount Security. 

In the case of Securities of a series issued to a Alterra Capital Trust, should the Holders of such Securities fail to rescind and annul
such declaration and its consequences, the holders of a Majority in liquidation preference of the Preferred Securities of such Alterra Capital Trust then outstanding shall have such right by written notice to the Company, the Trustee and the
Institutional Trustee, subject to satisfaction of the conditions set forth in clauses (1) and (2) above of this Section 6.1. 

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

Section 6.2 Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company covenants that (a) in case
default shall be made in the payment of any installment of interest (including any Additional Interest) on or any Additional Amounts with respect to any of the Securities of any series when such interest shall have become due and payable, and such
default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of or any premium, if any, on any Securities of any series or any Additional Amounts with respect
thereto when the same shall have become due and payable, whether upon Stated Maturity of the Securities of such series or upon any redemption or by acceleration or otherwise, or (c) in case default shall be made in the deposit of any sinking
fund payment, when and as due by the terms of a Security of any series, then upon demand of the Trustee for such series, the Company will pay to the Trustee for the benefit of the Holder of any such Security the whole amount that then shall have
become due and payable on any such Security for the principal, premium, if any, and interest (including any Additional Interest), if any, with interest upon the overdue principal and premium, if any, and, so far as payment of the same is enforceable
under applicable law and, if the Securities are held by a Alterra Capital Trust, without duplication of any other amounts paid to such Alterra Capital Trust in respect thereof, on overdue installments of interest and Additional Amounts, at the
Overdue Rate applicable to any such Security; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and any further amounts payable to the Trustee, its agents and counsel pursuant to the
provisions of Section 7.6. 
 In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee,
in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceedings to
judgment or final decree, and may enforce any such judgment or final decree against the Company or other obligor upon such Securities and collect in the manner provided by law out of the property of the Company or other obligor upon such Securities,
wherever situated, the moneys adjudged or decreed to be payable. 
  

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 The Trustee shall be entitled and empowered, either in its own name as trustee of an express
trust, or as attorney-in-fact for the Holders of any of the Securities, or in both such capacities, to file such proof of debt, amendment of proof of debt, claim, petition or other document as may be necessary or advisable in order to have the
claims of the Trustee and of the Holders of Securities allowed in any equity receivership, insolvency, bankruptcy, liquidation, readjustment, reorganization or other similar proceedings, or any judicial proceedings, relative to the Company or any
other obligor on the Securities or its creditors or its property. The Trustee is hereby irrevocably appointed (and the successive respective Holders of the Securities, by taking and holding the same, shall be conclusively deemed to have so appointed
the Trustee) the true and lawful attorney-in-fact of the respective Holders of the Securities, with authority to make or file in the respective names of the Holders of the Securities any proof of debt, amendment of proof of debt, claim, petition or
other document in any such proceedings and to receive payment of any sums becoming distributable on account thereof, and to execute any other papers and documents and do and perform any and all acts and things for and on behalf of such Holders of
the Securities as may be necessary or advisable in the opinion of the Trustee in order to have the respective claims of the Holders of the Securities against the Company or any other obligor on the Securities and/or its property allowed in any such
proceedings, and to receive payment of or on account of such claims; provided, however, that nothing herein contained shall be deemed to authorize or empower the Trustee to consent to or accept or adopt, on behalf of any Holder of Securities, any
plan of reorganization or readjustment of the Company or any other obligor on the Securities or, by other action of any character in any such proceeding, to waive or change in any way any right of any Holder of any Security, even though it may
otherwise be entitled so to do under any present or future law, all such power or authorization being hereby expressly denied. 

All rights of action and of asserting claims under this Indenture or under any of the Securities may be enforced by the Trustee without
the possession of any of the Securities or the production thereof in any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and
any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the holders of the Securities in
respect of which such action was taken. 
 In any proceedings brought by the Trustee (and also any proceedings involving the
interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities in respect of which such action was taken, and it shall not be necessary to make any
Holders of such Securities parties to any such proceedings. 
 Section 6.3 Application of Proceeds. Any moneys
collected by the Trustee pursuant to this Article in respect of any series of the Securities, together with any other sums held by the Trustee (as such) hereunder (other than sums held in trust for the benefit of the Holders of particular
Securities), shall be applied in the following order at the date or dates fixed by the Trustee and, in case of the distribution of such moneys on account of principal, or any premium, interest (including any Additional Interest) or Additional
Amounts, upon presentation of the several Securities in respect of which moneys have been collected and stamping (or otherwise noting) thereon the payment, or issuing Securities of such series in reduced principal amounts in

  

 37 

 
exchange for the presented Securities of like series if only partially paid, or upon surrender thereof if fully paid: 

FIRST: To the payment of costs and expenses applicable to such series in respect of which moneys have been collected, including
reasonable compensation to the Trustee and each predecessor Trustee and their respective agents and attorneys and of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a result of
negligence or bad faith, and all other amounts due to the Trustee or any predecessor Trustee pursuant to Section 7.6; 

SECOND: In case the principal of the Securities of such series in respect of which moneys have been collected shall not have become and
be then due and payable, to the payment of interest (including any Additional Interest) and any Additional Amounts on the Securities of such series in default in the order of the maturity of the installments of such interest, with interest (to the
extent that such interest has been collected by the Trustee), so far as it may be enforceable under applicable law, upon the overdue installments of interest and any Additional Amounts at the Overdue Rate applicable to such series, such payments to
be made ratably to the Persons entitled thereto, without discrimination or preference; 
 THIRD: In case the principal of the
Securities of such series in respect of which moneys have been collected shall have become and shall be then due and payable, to the payment of the whole amount then owing and unpaid upon all the Securities of such series for principal and premium,
if any, and interest, if any, and any Additional Amounts, with interest upon the overdue principal and premium, if any, and (to the extent that such interest has been collected by the Trustee), so far as payment of the same is enforceable under
applicable law, upon overdue installments of interest and any Additional Amounts, if any, at the Overdue Rate applicable to such series; and in case such moneys shall be insufficient to pay in full the whole amount so due and unpaid upon the
Securities of such series, then to the payment of such principal, premium, if any, and interest, if any, and any Additional Amounts, without preference or priority of principal and premium, if any, over interest or any Additional Amounts, or of
interest or any Additional Amounts, if any, over principal and premium, if any, or of any installment of interest over any other installment of interest, or of any Security of such series over any other Security of such series, ratably to the
aggregate of such principal, premium, if any, and accrued and unpaid interest, if any; and 
 FOURTH: To the payment of the
remainder, if any, to the Company or as a court of competent jurisdiction may direct in writing. 
 Section 6.4 Suits
for Enforcement. In case an Event of Default with respect to Securities of any series has occurred, has not been waived and is continuing, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture
by such appropriate judicial proceedings as the Trustee shall deem necessary to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement
contained in this Indenture or in aid of the exercise of any power granted in this Indenture or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 

 

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 Section 6.5 Restoration of Rights on Abandonment of Proceedings. In case the
Trustee or any Holder shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Trustee or such Holder, then and in
every such case (subject to the binding effect of any determination made in such proceedings) the Company and the Trustee and each of the Holders shall be restored severally and respectively to their former positions and rights hereunder, and
(subject as aforesaid) all rights, remedies and powers of the Company, the Trustee and the Holders shall continue as though no such proceedings had been instituted. 

Section 6.6 Limitations on Suits by Securityholders. No Holder of any Security of any series shall have any right by virtue
or by availing of any provision of this Indenture to institute an action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or with respect to this Indenture, or for the appointment of a trustee, receiver, liquidator,
custodian or other similar official or for any other remedy hereunder, unless such Holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance thereof, as hereinbefore provided, and unless also the
Holders of not less than 25% in aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action or proceeding in its own name as Trustee hereunder and shall have
offered to the Trustee such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby and the Trustee for 60 days after its receipt of such notice, request and offer of indemnity shall have
failed to institute any such action or proceeding and no direction inconsistent with such written request shall have been given to the Trustee pursuant to Section 6.9; it being understood and intended, and being expressly covenanted by the
taker and Holder of every Security with every other taker and Holder of any Security and with the Trustee, that no one or more Holders of Securities of any series shall have any right in any manner whatever by virtue or by availing of any provision
of this Indenture to affect, disturb or prejudice the rights of any other Holder of Securities, or to obtain or seek to obtain priority over or preference to any other such Holder or to enforce any right under this Indenture, except in the manner
herein provided and for the equal, ratable and common benefit of all Holders of Securities of such series. For the protection and enforcement of the provisions of this Section, each and every Holder of Securities of any series and the Trustee shall
be entitled to such relief as can be given either at law or in equity. 
 Section 6.7 Unconditional Right of
Securityholders to Institute Certain Suits. Nothing contained in this Indenture or in the Securities of any series shall affect or impair the obligation of the Company, which is unconditional and absolute, to pay the principal of, and premium,
if any, and interest (including any Additional Interest), if any, on, and any Additional Amounts with respect to, the Securities of such series at the respective places, at the respective times, at the respective rates, in the respective amounts and
in the coin or currency therein and herein prescribed, or affect or impair the right of action, which is also absolute and unconditional, of any Holder of any Security to institute suit to enforce such payment at the respective due dates expressed
in such Security, or upon redemption, by declaration, repayment or otherwise as herein provided without reference to, or the consent of, the Trustee or the Holder of any other Security, unless such Holder consents thereto or unless and to the extent
that the institution or prosecution. 
  

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 In the case of Securities of a series issued to a Alterra Capital Trust, any holder of
Preferred Securities issued by such Alterra Capital Trust shall have the right, upon the occurrence of an Event of Default described in Section 6.1(a) or 6.1(b) hereof, to institute directly a proceeding against the Company for enforcement of
payment to such holder of principal of, and any premium and (subject to Sections 3.6, 3.8 and 3.13) interest (including any Additional Interest) on, and Additional Amounts with respect to, such Securities having a principal amount equal to the
liquidation amount of such Preferred Securities held by such holder (a “Direct Action”). 
 Notwithstanding any
payments made to a holder of Preferred Securities by the Company in connection with a Direct Action, the Company shall remain obligated to pay the principal of and premium, if any, or interest on and Additional Amounts, if any, with respect to the
related Securities, and the Company shall be subrogated to the rights of the holder of such Preferred Securities with respect to payments on the Preferred Securities to the extent of any payments made by the Company to such holder in any Direct
Action. 
 Section 6.8 Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default. Except as provided
in Section 6.6, no right or remedy herein conferred upon or reserved to the Trustee or to the Holder of any Security or to the holders of Preferred Securities 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. 
 No delay or
omission of the Trustee or of any Holder of any Security or of the holders of Preferred Securities of any series to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right or
power or shall be construed to be a waiver of any such Event of Default or an acquiescence therein; and, subject to Section 6.6, every power and remedy given by this Indenture or by law to the Trustee or to the Holder of any Security or to the
holders of Preferred Securities may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Holder of such Security or by such holders of Preferred Securities. 

Section 6.9 Control by Holders of Securities. The Holders of a majority in aggregate principal amount of the Securities of
each series affected (with each series voting as a separate class) at the time Outstanding 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 by this Indenture; provided that such direction shall not be otherwise than in accordance with law and the provisions of this Indenture, and provided, further, that
(subject to the provisions of Section 7.1) the Trustee shall have the right to decline to follow any such direction if the Trustee, being advised by counsel, shall determine that the action or proceeding so directed may not lawfully be taken or
if the Trustee in good faith by a trust committee of directors or Responsible Officers of the Trustee shall determine that the action or proceedings so directed would expose the Trustee to personal liability or if the Trustee in good faith shall so
determine that the actions or forebearances specified in or pursuant to such direction would be unduly prejudicial to the interests of Holders of the Securities of all series so affected not joining in the giving of said direction, it being
understood that (subject to Section 7.1) the Trustee shall have no duty to ascertain whether or not such actions or forebearances are unduly prejudicial to such Holders. 

 

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 As between the Trustee and the Holders of the Securities, nothing in this Indenture shall
impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee and which is not inconsistent with such direction or directions by Securityholders. 

Section 6.10 Waiver of Past Defaults. The Holders of not less than a majority in principal amount of the Outstanding
Securities of any series on behalf of the Holders of all the Securities of such series and, in the case of any Securities issued to a Alterra Capital Trust, the holders of not less than a Majority in liquidation preference of the Preferred
Securities issued by such Alterra Capital Trust then outstanding, may waive any past default hereunder with respect to such series and its consequences, except a default: 

(1) in the payment of the principal of, any premium or interest (including any Additional Interest) on, or any Additional
Amounts with respect to, any Security of such series, or 
 (2) in respect of a covenant or provision hereof
which under ARTICLE 11 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 6.11 Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall transmit to the
Securityholders of any series, as the names and addresses of such Holders appear on the Security Register, notice by mail of all defaults known to a Responsible Officer of the Trustee which have occurred with respect to such series, such notice to
be transmitted within 90 days after the occurrence thereof, unless such defaults shall have been cured before the giving of such notice (the term “default” or “defaults” for the purposes of this Section being hereby defined to
mean any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment of the principal of, or premium, if any, or interest, if any, on, or any
Additional Amounts with respect to, any of the Securities of such series, the Trustee shall be protected in withholding such notice if and so long as a trust committee of directors or Responsible Officers of the Trustee in good faith determines that
the withholding of such notice is in the interests of the Securityholders of such series. 
 Section 6.12 Right of Court
to Require Filing of Undertaking to Pay Costs. The 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 and expenses, against any party litigant in 
  

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such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the
Trustee, to any suit instituted by any Securityholder or group of Securityholders of any series holding in the aggregate more than 10% in aggregate principal amount of the Securities of such series Outstanding, or, in the case of any suit relating
to or arising under Section 6.1(c) or Section 6.1(i) (if the suit relates to Securities of more than one but fewer than all series), 10% in aggregate principal amount of Securities Outstanding affected thereby, or, in the case of any suit
relating to or arising under Section 6.1(c) or Section 6.1(i) (if the suit under clause (d) or (g) relates to all the Securities then Outstanding), Section 6.1(f) or Section 6.1(g), 10% in aggregate principal amount of
all Securities Outstanding, or to any suit instituted by any Holder of Securities for the enforcement of the payment of the principal of, or premium, if any, or interest, if any, on, any Security on or after the due date expressed in such Security.

 Section 6.13 Waiver of Usury, Stay or Extension Laws. The Company covenants that (to the extent that it may
lawfully do so) it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the
covenants or the performance of this Indenture; and the Company expressly waives (to the extent that it may lawfully do so) all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power
herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

Section 6.14 Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder of any Security or of any
holder of Preferred Securities 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 any Holder of a Security or to any holder of Preferred Securities may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by such Holder or by such holder of
Preferred Securities, as the case may be. 
 ARTICLE 7 

CONCERNING THE TRUSTEE 

Section 7.1 Duties and Responsibilities of the Trustee; During Default; Prior to Default. With respect to the Holders of any
series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of that series and after the curing or waiving of all Events of Default which may have occurred with respect to such
series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a series has occurred (which has not been cured or waived), 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. 

 

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 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, its own bad faith, or its own willful misconduct, except that: (a) prior to the occurrence of an Event of Default with respect to the Securities of such series and after the curing or
waiving of all such Events of Default with respect to such series which may have occurred: 
 (i) the duties and
obligations of the Trustee shall be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no
implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (ii) in the
absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any statements, certificates or opinions furnished to the Trustee and
conforming to the requirements of this Indenture; but in the case of any such statements, 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; 
 (a) the Trustee shall not be liable
for any error of judgment made in good faith by a Responsible Officer or Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 

(b) the Trustee shall not be liable for any action taken or omitted by it in good faith and believed by it to be authorized or within the
discretion, rights or powers conferred upon it by this Indenture; and 
 (c) the Trustee shall not be liable with respect to any
action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of Securities pursuant to Section 6.9 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. 
 None of the provisions contained
in this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any liability in the performance of any of its duties or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing
that the repayment of such funds or adequate indemnity against such liability is not reasonably assured to it. 

Section 7.2 Certain Rights of the Trustee. Subject to Section 7.1: 

(a) the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution, Officer’s
Certificate or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note, coupon, security or other paper or document (whether in 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, direction, order or demand of the
Company mentioned herein shall be sufficiently evidenced by an Officer’s Certificate (unless other evidence in respect thereof be herein specifically prescribed); and any resolution of the Board of Directors may be evidenced to the Trustee by a
copy thereof certified by the secretary or any assistant secretary of the Company; 
  

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

(d) the Trustee shall be under no obligation to exercise any of the trusts or powers vested in it by this Indenture at the request, order
or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity satisfactory to it against the costs, expenses and liabilities
which might be incurred therein or thereby; 
 (e) prior to the occurrence of an Event of Default hereunder and after the curing
or waiving of all Events of Default, 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, consent, order, approval,
appraisal, bond, debenture, note, coupon, security or other paper or document unless requested in writing so to do by the Holders of not less than a majority in aggregate principal amount of the Securities of all series affected then Outstanding;
provided that, if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by
the security afforded to it by the terms of this Indenture, the Trustee may require indemnity reasonably satisfactory to it against such expenses or liabilities as a condition to proceeding; the reasonable expenses of every such investigation shall
be paid by the Company or, if paid by the Trustee or any predecessor Trustee, shall be repaid by the Company upon demand; 
 (f)
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 not regularly in its employ, and the Trustee shall not be responsible for any misconduct or negligence
on the part of any such agent or attorney appointed with due care by it hereunder; 
 (g) the Trustee shall not be bound to make
any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document,
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 during
reasonable hours and upon reasonable notice the books, records and premises of the Company, personally or by agent or attorney; 

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

 

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

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

(k) the Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture, which certificate may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate
previously delivered and not superseded. 
 Section 7.3 Trustee Not Responsible for Recitals, Disposition of Securities
or Application of Proceeds Thereof. The recitals contained herein and in the Securities, except the certificates of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness of
the same, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that the statements made by it in a Statement of Eligibility on Form
T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. The Trustee makes no representation as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable
for the use or application by the Company of any of the Securities or of the proceeds thereof. 
 Section 7.4 Trustee
and Agents May Hold Securities; Collections, etc. The Trustee, any Paying Agent, Securities Registrar, Authenticating Agent or any agent of the Company or the Trustee, in its individual or any other capacity, may become the owner or pledgee of
Securities with the same rights it would have if it were not the Trustee or such agent, and, subject to Section 7.8 and Section 7.13, if operative, may otherwise deal with the Company and receive, collect, hold and retain collections from
the Company with the same rights it would have if it were not the Trustee, Paying Agent, Securities Registrar, Authenticating Agent or such agent. 

Section 7.5 Money Held by Trustee. Subject to the provisions of Section 12.3, all money received by the Trustee shall,
until used or applied as herein provided, be held in trust for the purposes for which it was received, but need not be segregated from other funds except to the extent required by mandatory provisions of law. The Trustee shall have no liability for
interest on money it receives and holds in trust except as specifically provided herein. 
 Section 7.6 Compensation and
Indemnification of Trustee and Its Prior Claim. The Company covenants and agrees to pay the Trustee from time to time, and the Trustee shall be entitled to such compensation as the Company and the Trustee may from time to time agree in writing
for all services rendered by the Trustee hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) and the Company covenants and agrees to pay or reimburse the Trustee
and each predecessor trustee 
  

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upon its request for all reasonable expenses, disbursements and advances incurred or made by or on behalf of it in accordance with any of the provisions of this Indenture (including the
reasonable compensation and the expenses and disbursements of its counsel and of all agents and other Persons not regularly in its employ) except any such expense, disbursement or advance as shall be attributable to its negligence, bad faith or
willful misconduct. 
 The Company also covenants to indemnify the Trustee and each predecessor trustee for, and hold it
harmless against, any and all loss, liability, damage, claims or expense, including taxes (other than taxes measured by the income of the Trustee or otherwise applicable to the Trustee for operations outside the scope of this Indenture) incurred
without negligence, bad faith or willful misconduct on its part, arising out of or in connection with the acceptance or administration of this Indenture or the trusts hereunder and the performance of its duties hereunder, including the reasonable
costs and expenses of defending itself against or investigating any claim of liability in connection with the exercise or performance of any of its powers or duties hereunder except to the extent that any such loss, liability, damage, claims or
expense shall be attributable to the Trustee’s negligence, bad faith or willful misconduct. 
 The obligations of the
Company under this Section to compensate and indemnify the Trustee and each predecessor trustee and to pay or reimburse the Trustee and each predecessor trustee for expenses, disbursements and advances shall constitute additional indebtedness
hereunder and shall survive the satisfaction and discharge of this Indenture and resignation or removal of the Trustee. Such additional indebtedness shall be a lien prior to that of the Securities upon all property and funds held or collected by the
Trustee as such, except funds held in trust for the benefit of the Holders of particular Securities. 
 The provisions of this
section shall survive the termination of this Indenture. 
 Section 7.7 Right of Trustee to Rely on Officer’s
Certificate, etc. Subject to Section 7.1 and Section 7.2, whenever in the administration of the trusts of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or
suffering or omitting any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and
established by an Officer’s Certificate delivered to the Trustee, and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it
under the provisions of this Indenture upon the good faith thereof. 
 Section 7.8 Qualification of Trustee; 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. Nothing herein shall prevent the Trustee from filing with the Commission the application referred to in the penultimate paragraph of Section 310(b) of the Trust Indenture Act. 

 

 46 

 Section 7.9 Persons Eligible for Appointment as Trustee. The Trustee for each
series of Securities hereunder shall at all times be a corporation or banking association organized and doing business under the laws of the United States of America or of any State or the District of Columbia having a combined capital and surplus
of at least $50,000,000, and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by Federal, State or District of Columbia authority. Such corporation or banking association shall have
a place of business or an affiliate with a place of business in the Borough of Manhattan, The City of New York if there be such a corporation or association in such location willing to act upon reasonable and customary terms and conditions. If such
corporation or association publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such
corporation or association shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this
Section, the Trustee shall resign immediately in the manner and with the effect specified in Section 6.10. 
 The
provisions of this Section 7.9 are in furtherance of and subject to Section 310(a) of the Trust Indenture Act. 

Section 7.10 Resignation and Removal; Appointment of Successor Trustee. 

(a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign by giving written notice of resignation to the
Company and by mailing notice thereof by first-class mail to Holders of the Securities at their last addresses as they shall appear on the Security Register. Upon receiving such notice of resignation, the Company shall promptly appoint a successor
trustee or trustees by written instrument in duplicate, executed by authority of the Board of Directors, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee or trustees. If no successor
trustee shall have been so appointed and have accepted appointment within 60 days after the mailing of such notice of resignation, the resigning Trustee may petition at the expense of the Company any court of competent jurisdiction for the
appointment of a successor trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities for at least six months may, subject to the provisions of Section 6.12, on behalf of himself and all others similarly
situated, petition any such court for the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b) In case at any time any of the following shall occur: 

(i) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act after written
request therefor by the Company or by any Securityholder who has been a bona fide Holder of a Security or Securities for at least six months unless the Trustee’s duty to resign is stayed in accordance with the provisions of Section 310(b)
of the Trust Indenture Act; or 
  

 47 

 (ii) the Trustee shall cease to be eligible in accordance with the
provisions of Section 7.9 and shall fail to resign after written request therefor by the Company or by any Securityholder; or the Trustee shall become incapable of acting, or shall be adjudged a bankrupt or insolvent; or a receiver or
liquidator 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 case, the
Company may remove the Trustee and appoint a successor trustee by written instrument, in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to
the successor trustee, or, subject to the provisions of Section 6.12, any Securityholder who has been a bona fide Holder of a Security or Securities 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 and the appointment of a successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor
trustee. 
 (c) The Holders of a majority in aggregate principal amount of the Securities at the time Outstanding may at any
time remove the Trustee and appoint a successor trustee by delivering to the Trustee so removed, to the successor trustee so appointed and to the Company the evidence provided for in Section 8.1 of the action in that regard taken by the
Securityholders. 
 (d) No resignation or removal of the Trustee and no appointment of a successor trustee pursuant to any of
the provisions of this Section 7.10 shall become effective until acceptance of appointment by the successor trustee as provided in Section 7.11. 

Section 7.11 Acceptance of Appointment by Successor Trustee. Any successor trustee appointed as provided in Section 7.10
shall execute, acknowledge and deliver to the Company and to its predecessor trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor trustee shall become effective and such successor
trustee, without any further act, deed or conveyance, shall become vested with all rights, powers, duties and obligations of its predecessor hereunder, with like effect as if originally named as trustee hereunder; but nevertheless, on the written
request of the Company or of the successor trustee, upon payment of all amounts due to the Trustee under Section 7.6, the Trustee ceasing to act shall, subject to Section 4.4, pay over to the successor trustee all moneys at the time held
by it hereunder and shall execute and deliver an instrument transferring to such successor trustee all such rights, powers, duties and obligations. Upon request of any successor trustee, the Company shall execute any and all instruments in writing
for more fully and certainly vesting in and confirming to such successor trustee all such rights and powers. Any Trustee ceasing to act, shall, nevertheless, retain a prior lien upon all property or funds held or collected by such trustee to secure
any amounts then due it pursuant to the provisions of Section 7.6. 
 No successor trustee shall accept appointment as
provided in this Section 7.11 unless at the time of such acceptance such successor trustee shall be qualified under the provisions of Section 7.8 and eligible under the provisions of Section 7.9. Upon acceptance of appointment by any
successor trustee as provided in this Section 7.11, the Company shall mail notice thereof by first-class mail to the Holders of Securities at their last addresses as they shall appear on the Security Register. If the acceptance of appointment
is substantially contemporaneous with the resignation, then the notice called for by the preceding sentence may be combined with the notice called for by Section 7.10. If the Company fails to mail such notice within 10 days after acceptance of
appointment by the successor trustee, the successor trustee shall cause such notice to be mailed at the expense of the Company. 
  

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 Section 7.12 Merger, Conversion, Consolidation or Succession to Business of
Trustee. Any corporation or national association in which the Trustee may be merged or converted or with which it may be consolidated, or any corporation or national association resulting from any merger, conversion or consolidation to which the
Trustee shall be a party, or any corporation or national association succeeding to substantially all of the corporate trust business of the Trustee, shall be the successor of the trustee hereunder, provided that such corporation or national
association shall be qualified under the provisions of Section 7.8 and eligible under the provisions of Section 7.9, without the execution or filing of any paper or any further act (including the giving of any notice to Securityholders) on
the part of any of the parties hereto, anything herein to the contrary notwithstanding. In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture any of the Securities shall have been authenticated but
not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee and deliver such Securities so authenticated; and, in case at that time any of the Securities shall not have been authenticated,
any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor trustee; and in all such cases such certificate shall have the full force which it is anywhere in the
Securities or in this Indenture provided for the certificate of authentication of the Trustee. 
 Section 7.13
Preferential Collection of Claims Against the Company. The Trustee shall comply with 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. 

Section 7.14 Authenticating Agent. So long as any Securities remain Outstanding, the Trustee may, by an instrument in
writing, appoint with the approval of the Company an authenticating agent (the “Authenticating Agent”) to act as the Trustee’s agent on its behalf and subject to its direction in connection with the authentication and delivery of
Securities. Securities authenticated by such Authenticating Agent shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by such Trustee. Wherever reference is made in this
Indenture to the authentication and delivery of Securities by the Trustee or to the Trustee’s Certificate of Authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating
Agent and a Certificate of Authentication executed on behalf of such Trustee by such Authenticating Agent. Such Authenticating Agent shall at all times be a corporation organized and doing business under the laws of the United States of America or
of any State or of the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least $50,000,000 and subject to supervision or examination by Federal, State or District of
Columbia authority. If the Corporate Trust Office of the Trustee is not located in the Borough of Manhattan, The City of New York, the Authenticating Agent shall have its principal office and place of business in the Borough of Manhattan, The City
of New York. 
  

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 Any corporation into which any Authenticating Agent may be merged or converted, or with
which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which any Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency business of any Authenticating Agent,
shall continue to be the Authenticating Agent without the execution or filing of any paper or any further act on the part of the Trustee or such Authenticating Agent. 

Any Authenticating Agent may at any time, and if it shall cease to be eligible shall, resign by giving written notice of resignation to
the Trustee and to the Company. The Trustee may at any time terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon
such a termination, or in case at any time any Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section 7.14, the Trustee shall upon Company Request appoint a successor Authenticating Agent, and the
Company shall provide notice of such appointment to all Holders of Securities in the manner and to the extent provided in Section 15.5. Any successor Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all
rights, powers, duties and responsibilities of its predecessor hereunder, with like effect as if originally named as Authenticating Agent herein. The Company agrees to pay or to cause to be paid to the Authenticating Agent from time to time
reasonable compensation for its services. The Authenticating Agent shall have no responsibility or liability for any action taken by it as such in good faith at the direction of the Trustee. 

ARTICLE 8 

CONCERNING THE HOLDERS OF SECURITIES 

Section 8.1 Action by Holders. Whenever in this Indenture it is provided that the Holders of a specified percentage in
aggregate principal amount of the Securities of any series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action) the fact that at the time of taking any
such action the Holders of such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of similar tenor executed by Holders in Person or by agent or proxy appointed in writing, or
(b) by the record of Holders voting in favor thereof at any meeting of such Holders duly called and held in accordance with the provisions of ARTICLE 9, or (c) by a combination of such instrument or instruments and any such record of such
a meeting of Holders. The Company may (but shall not be required to) set a record date for purposes of determining the identity of Securityholders entitled to vote or consent to any action by vote or consent authorized or permitted under this
Indenture, which record date shall be the later of 10 days prior to the first solicitation of such consent or the date of the most recent list of Holders furnished to the Trustee pursuant to Section 5.1 of this Indenture prior to such
solicitation. If a record date is fixed, those Persons who were Securityholders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to take such action by vote or consent or to revoke any vote or consent
previously given, whether or not such Persons continue to be Holders after such record date. 
  

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 Section 8.2 Proof of Execution of Instruments by Holders of Securities. Subject
to Section 7.1, Section 7.2 and Section 9.5, the execution of any instrument by a Holder of a Security or his agent or proxy may be proved in any reasonable manner that the Trustee deems sufficient, including, without limitation, in
the following manner: 
 The fact and date of the execution by any such Person of any instrument may be proved by the
certificate of any notary public or other officer authorized to take acknowledgments of deeds, that the Person executing such instrument acknowledged to him the execution thereof, or by an affidavit or written statement of a witness to such
execution. Where such execution is by an officer of a corporation or association or a member of a partnership on behalf of such corporation, association or partnership, as the case may be, or by any other Person acting in a representative capacity,
such certificate, affidavit or written statement shall also constitute sufficient proof of his authority. 
 The ownership of
Securities shall be proved by the Securities Register or by a certificate of the Securities Registrar. 
 The record of any
Holders’ meeting shall be proved in the manner provided in Section 9.6. 
 Section 8.3 Holders to be Treated
as Owners. The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person in whose name any Security shall be registered upon the Security Register as the absolute owner of such Security (notwithstanding any
notation of ownership or other writing thereon) for the purpose of receiving payment of principal of, and premium, if any, and (subject to Section 3.6 and Section 3.8) interest, if any, on, such Security, and for all other purposes
whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. All such payments so made to any Holder for the time being, shall be
valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon such Security. 

None of the Company, the Trustee or any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of
the records relating to or payments made on account of beneficial ownership interest of a Global Security, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interest. Notwithstanding the foregoing, with
respect to any Global Security, nothing herein shall prevent the Company or the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by any Depositary (or its
nominee), as a Holder, with respect to such Global Security or impair, as between such Depositary and owners of beneficial interests in such Global Security, the operation of customary practices governing the exercise of the right of such Depositary
(or its nominee) as holder of such Global Security. 
 Section 8.4 Securities Owned by Company Deemed Not
Outstanding. In determining whether the Holders of the requisite aggregate principal amount of Securities of any or all series have concurred in any direction, consent or waiver under this Indenture, Securities which are owned by the Company or
any other obligor on the Securities with respect to which such determination is being made or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any other obligor on the
Securities with respect to which such determination is being made shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the Trustee shall be protected in
relying on any such direction, consent or waiver only Securities which a Responsible Officer of the Trustee knows are so 
  

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owned shall be so disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the
pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Person directly or indirectly controlling or controlled by or under direct or indirect common
control with the Company or any other obligor on the Securities. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of the
Trustee, the Company shall furnish to the Trustee promptly an Officer’s Certificate listing and identifying all Securities, if any, known by the Company to be owned or held by or for the account of any of the above-described Persons; and,
subject to Section 7.1 and Section 7.2, the Trustee shall be entitled to accept such Officer’s Certificate as conclusive evidence of the facts therein set forth and of the fact that all Securities not listed therein are Outstanding
for the purpose of any such determination. 
 Section 8.5 Right of Revocation of Action Taken. At any time prior to
(but not after) the evidencing to the Trustee, as provided in Section 8.1, of the taking of any action by the Holders of the percentage in aggregate principal amount of the Securities of any or all series, as the case may be, specified in this
Indenture in connection with such action, any Holder of a Security, the number, letter or other distinguishing symbol of which is shown by the evidence to be included in the Securities the Holders of which have consented to such action, may, by
filing written notice at the Corporate Trust Office and upon proof of holding as provided in this Article, revoke such action so far as concerns such Security. Except as aforesaid, any such action taken by the Holder of any Security shall be
conclusive and binding upon such Holder and upon all future Holders and owners of such Security and of any Securities issued in exchange or substitution therefor, irrespective of whether or not any notation in regard thereto is made upon any such
Security or such other Security. Any action taken by the Holders of the percentage in aggregate principal amount of the Securities of any or all series, as the case may be, specified in this Indenture in connection with such action shall be
conclusively binding upon the Company, the Trustee and the Holders of all the Securities affected by such action. 
 ARTICLE 9

 HOLDERS’ MEETINGS 

Section 9.1 Purposes of Meetings. A meeting of Holders of Securities of any or all 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: 
 (a) to give any notice to the
Company or to the Trustee for the Securities of such series, or to give any directions to the Trustee, or to consent to the waiving of any default hereunder and its consequences, or to take any other action authorized to be taken by Holders pursuant
to any of the provisions of ARTICLE 6; 
 (b) to remove the Trustee and nominate a successor Trustee pursuant to the provisions
of ARTICLE 7; 
 (c) to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of
Section 10.2; or 
  

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 (d) to take any other action authorized to be taken by or on behalf of the Holders of any
specified aggregate principal amount of the Securities of any one or more or all series, as the case may be, under any other provision of this Indenture or under applicable law. 

Section 9.2 Call of Meetings by Trustee. The Trustee may at any time call a meeting of Holders of Securities to take any
action specified in Section 9.1, to be held at such time and at such place in the Borough of Manhattan, The City of New York, or such other Place of Payment, as the Trustee shall determine. Notice of every meeting of the Holders of Securities,
setting forth the time and the place of such meeting, and in general terms the action proposed to be taken at such meeting, shall be given to Holders of Securities of the particular series in the manner and to the extent provided in
Section 15.5. Such notice shall be given not less than 20 nor more than 90 days prior to the date fixed for the meeting. 

Section 9.3 Call of Meetings by Company or Holders. In case at any time the Company, pursuant to a resolution of its Board of
Directors, or the Holders of at least 10% in aggregate principal amount of the Outstanding Securities of any or all series, as the case may be, shall have requested the Trustee to call a meeting of Holders of Securities of any or all series, as the
case may be, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee for such series shall not have given the notice of such meeting within 20 days after receipt of such request, then the
Company or such Holders may determine the time and the place in the Borough of Manhattan or other Place of Payment for such meeting and may call such meeting to take any action authorized in Section 9.1, by giving notice thereof as provided in
Section 9.2. 
 Section 9.4 Qualifications for Voting. To be entitled to vote at any meeting of Holders a
Person shall be (a) a Holder of one or more outstanding Securities with respect to which such meeting is being held or (b) a Person appointed by an instrument in writing as proxy by such Holder. 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 and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. 

Section 9.5 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 the 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 Company or by Holders of Securities as provided in Section 9.3, in which case the Company or the Holders 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 majority vote of the meeting. 
  

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 Subject to Section 8.4, at any meeting each Holder of Securities with respect to which
such meeting is being held 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 held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any such 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 other than by virtue of Securities held by him or instruments in writing aforesaid duly designating him as the Person to vote on behalf of other Holders. At any meeting of
Holders, the presence of Persons holding or representing Securities with respect to which such meeting is being held in an aggregate principal amount sufficient to take action on the business for the transaction of which such meeting was called
shall constitute a quorum, but, if less than a quorum is present, the Persons holding or representing a majority in aggregate principal amount of such Securities represented at the meeting may adjourn such meeting with the same effect, for all
intents and purposes, as though a quorum had been present. Any meeting of Holders of Securities with respect to which a meeting was duly called pursuant to the provisions of Section 9.2 or Section 9.3 may be adjourned from time to time by
Persons holding or representing a majority in aggregate principal amount of such Securities represented at the meeting, present, whether or not constituting a quorum, and the meeting may be held as so adjourned without further notice. 

Section 9.6 Voting. The vote upon any resolution submitted to any meeting of Holders of Securities with respect to which such
meeting is being held shall be by written ballots on which shall be subscribed the signatures of such Holders or of their representatives by proxy and the serial number or numbers of the Securities 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 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 as provided in Section 9.2. The record shall show the serial
numbers of the Securities voting in favor of or against any resolution. The record shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one of the duplicates shall be delivered to the Company and
the other to the Trustee to be preserved by the Trustee. 
 Any record so signed and verified shall be conclusive evidence of
the matters therein stated. 
 Section 9.7 No Delay of Rights by Reason of Meeting. Nothing in this Article
contained shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Holders 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 to the Holders under any of the provisions of this Indenture or of the Securities of any series. 
  

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 ARTICLE 10 

SUPPLEMENTAL INDENTURES 

Section 10.1 Supplemental Indentures Without Consent of Securityholders. Without the consent of any Holders of Securities,
the Company, when authorized by a resolution of its Board of Directors, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act
as in force at the date of the execution thereof) for one or more of the following purposes: 
 (a) to convey, transfer, assign,
mortgage or pledge to the Trustee as security for the Securities any property or assets; 
 (b) to evidence the succession of
another Person to the Company, or successive successions, and the assumption by the successor Person of the covenants, agreements and obligations of the Company under this Indenture and the Securities, in each case in compliance with the Indenture;

 (c) to add to the covenants of the Company such further covenants, restrictions, conditions or provisions as its Board of
Directors shall consider to be for the protection of the Holders of any series of Securities or Tranche thereof, or to surrender any right or power herein conferred upon the Company and to make the occurrence and continuance of a default in any such
additional covenants, restrictions, conditions or provisions an Event of Default permitting the enforcement of all or any of the several remedies provided in this Indenture as herein set forth; provided that in respect of any such additional
covenant, restriction, condition or provision such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or may provide for an
immediate enforcement upon such an Event of Default or may limit the remedies available to the Trustee upon such an Event of Default or may limit the right of the Holders of a majority in aggregate principal amount of the Securities of such series
to waive such an Event of Default; 
 (d) to cure any ambiguity or to correct or supplement any provision contained herein or in
any supplemental indenture which may be defective or inconsistent with any other provision contained herein or in any supplemental indenture; or to make such other provisions in regard to matters or questions arising under this Indenture or under
any supplemental indenture or, in the case of Securities of a series issued to a Alterra Capital Trust and for so long as any of the Preferred Securities issued by such Alterra Capital Trust shall remain outstanding, the holders of such Preferred
Securities may deem necessary or desirable and which shall not materially adversely affect the interests of the Holders of any Securities; 

(e) to establish the form or terms of Securities of any series as permitted by Section 3.1; 

(f) to evidence and provide for the acceptance of appointment hereunder by a successor trustee with respect to the Securities, pursuant
to Section 7.11, or 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; and 

 

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 (g) otherwise to amend or supplement any of the provisions of this Indenture or in any
supplemental indenture; provided, however, that no such amendment or supplement shall materially adversely affect the interests of the Holders of any Securities then Outstanding. 

The Trustee is hereby authorized to join with the Company in the execution of any such supplemental indenture, to make any further
appropriate agreements and stipulations, which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be obligated to enter into any such supplemental
indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 Any
supplemental indenture authorized by the provisions of this Section may be executed without the consent of the Holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 10.2. 

Section 10.2 Supplemental Indentures With Consent of Securityholders. With the consent (evidenced as provided in ARTICLE 8)
of the Holders of not less than a majority in aggregate principal amount of the Securities at the time Outstanding of all series affected by such supplemental indenture (voting as one class) (and, in the case of any series of Securities held as
assets of a Alterra Capital Trust, such consent of holders of the Preferred Securities and the Common Securities of such Alterra Capital Trust as may be required under the Trust Agreement of such Alterra Capital Trust), the Company, when authorized
by a resolution of its Board of Directors, and the Trustee may, from time to time and at any time, enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as in force at the date of
execution thereof) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of the
Securities of each such series; provided that no such supplemental indenture shall (a) change the Stated Maturity of the principal of, or any premium or installment of interest (including any Additional Interest) on or any Additional Amounts
with respect to, any Security of such series, or reduce the principal amount thereof (or modify the calculation of such principal amount) or rate of interest (including any Additional Interest) thereon or any Additional Amounts with respect thereto
(or modify the calculation of such rate), or any premium payable on redemption thereof or otherwise, or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon an acceleration with respect thereto
pursuant to Section 6.1 or the amount thereof provable in bankruptcy pursuant to Section 6.2, or change the obligation of the Company to pay Additional Amounts pursuant to Section 4.4 (except as contemplated by Section 11.1 and
permitted by Section 10.1), or change the redemption provisions, or change the Place of Payment, currency in which the principal of, any premium or interest (including any Additional Interest) on, or any Additional Amounts with respect to any
security is payable, or impair or adversely affect the right of any Securityholder to institute suit for the payment thereof or, if the Securities provide therefor, any right of repayment at the option of the Securityholder, without the consent of
the Holder of each Security of such series so affected; or (b) reduce the aforesaid percentage of the principal amount of Securities Outstanding of such series, the consent of the Holders of which is required for any such supplemental indenture
or any waiver of any obligations of the Company under this Indenture, without the consent of the Holders of each Security of such series so affected, or reduce the requirements for quorum on voting; or (c) modify any of the provisions of this
Indenture relating to the subordination of the Securities in a manner adverse to Holders of Securities. 
  

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 Upon the request of the Company, accompanied by a Board Resolution authorizing the execution
of any such supplemental indenture, and upon the filing with the Trustee of evidence of the consent of Securityholders as aforesaid and other documents, if any, required by Section 8.1, the Trustee shall join with the Company in the execution
of such supplemental indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but shall not be obligated to, enter
into such supplemental indenture. 
 It shall not be necessary for the consent of the Securityholders or holders of Preferred
Securities under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 

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. 
 Section 10.3 Notice of Supplemental Indenture.
Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of Section 10.2, the Company shall mail a notice thereof by first-class mail to the Holders of Securities of each series
affected thereby at their addresses as they shall appear on the Security Register, setting forth in general terms the substance of such supplemental indenture. Any failure of the Company to mail such notice, or any defect therein, shall not,
however, in any way impair or affect the validity of any such supplemental indenture. 
 Section 10.4 Effect of
Supplemental Indenture. Upon the execution of any supplemental indenture pursuant to the provisions of this Article, this Indenture shall be and be deemed to be modified and amended in accordance therewith, but only with regard to the Securities
of each series affected by such supplemental indenture, and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders of any Securities of such series affected
thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture shall be and be deemed to be part of the terms
and conditions of this Indenture for any and all purposes with regard to the Securities of such series. 
 Section 10.5
Documents To Be Given to Trustee. The Trustee, subject to the provisions of Section 7.1 and Section 7.2, shall be provided with an Officer’s Certificate and an Opinion of Counsel as conclusive evidence that any supplemental
indenture executed pursuant to this Article complies with the applicable provisions of this Indenture and is authorized or permitted by this Indenture. 
  

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 Section 10.6 Notation on Securities in Respect of Supplemental Indentures.
Securities of any series affected by any supplemental indenture which are authenticated and delivered after the execution of such supplemental indenture pursuant to the provisions of this Article may bear a notation in form approved by the Company
and the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion of the Company, to any modification of this Indenture contained
in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for the Securities of such series then Outstanding. 

Section 10.7 Effect on Senior Indebtedness. No supplemental indenture shall directly or indirectly modify or eliminate the
provisions of ARTICLE 13 in any manner which might terminate or impair the subordination of the Securities of any series to Company Senior Indebtedness with respect to such series without the prior written consent of the holders of such Company
Senior Indebtedness. 
 ARTICLE 11 

CONSOLIDATION, AMALGAMATION, MERGER OR SALE 

Section 11.1 Company May Consolidate, Etc., Only on Certain Terms. The Company shall not consolidate or amalgamate with or
merge into any other Person (whether or not affiliated with the Company), or convey, transfer or lease its properties and assets as an entirety or substantially as an entirety to any other Person (whether or not affiliated with the Company), and the
Company shall not permit any other Person (whether or not affiliated with the Company) to consolidate or amalgamate with or merge into the Company or convey, transfer or lease its properties and assets as an entirety or substantially as an entirety
to the Company, unless: 
 (a) in case the Company shall consolidate or amalgamate with or merge into another Person or convey,
transfer or lease its properties and assets as an entirety or substantially as an entirety to any Person, the Person formed by such consolidation or amalgamation or into which the Company is merged or the Person which acquires by conveyance or
transfer, or which leases, the properties and assets of the Company as an entirety or substantially as an entirety shall be a Corporation or limited liability company organized and existing under the laws of the United States of America, any state
thereof or the District of Columbia, Bermuda, or any other country (including under the laws of any state, province or other political subdivision thereof) which is on the date of this Indenture a member of the Organization for Economic Cooperation
and Development, and shall expressly assume, by an indenture (or indentures, if at such time there is more than one Trustee) supplemental hereto, executed by the successor Person and delivered to the Trustee the due and punctual payment of the
principal of, any premium and interest (including any Additional Interest) on and any Additional Amounts with respect to all the Securities and the performance of every obligation in this Indenture and the Outstanding Securities on the part of the
Company to be performed or observed and shall provide for conversion or exchange rights in accordance with the provisions of the Securities of any series that are convertible or exchangeable into Common Stock or other securities; 

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

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 (c) in the case of the Securities of a series issued to a Alterra Capital Trust, such
transaction is permitted under the related Trust Agreement and does not give rise to any breach or violation of such Trust Agreement; and 

Section 11.2 Opinion of Counsel. Either the Company or the successor Person shall deliver to the Trustee prior to the
proposed transaction(s) covered by Section 11.1 an Officer’s Certificate and an Opinion of Counsel stating that the transaction(s) and such supplemental indenture are authorized and permitted by this Indenture and that all conditions
precedent to the consummation of the transaction(s) under this Indenture have been met. 
 Section 11.3 Successor Person
Substituted. Upon any consolidation or amalgamation by the Company with or merger of the Company into any other Person or any lease, sale, assignment, or transfer of all or substantially all of the property and assets of the Company in
accordance with Section 11.1, the successor Person formed by such consolidation or amalgamation or into which the Company is merged or the successor Person or affiliated group of Persons to which such lease, sale, assignment, or transfer is
made shall succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person or Persons had been named as the Company herein, and thereafter, except in
the case of a lease, the predecessor Person or Persons shall be relieved of all obligations and covenants under this Indenture and the Securities and in the event of such conveyance or transfer, except in the case of a lease, any such predecessor
Person may be dissolved and liquidated. 
 ARTICLE 12 

SATISFACTION AND DISCHARGE OF INDENTURE, UNCLAIMED MONEYS 

Section 12.1 Satisfaction and Discharge of Securities of Any Series. The Company shall be deemed to have satisfied and
discharged this Indenture with respect to the entire indebtedness on all the Outstanding Securities of any particular series, and the Trustee, at the expense of the Company and upon Company Request, shall execute proper instruments acknowledging
such satisfaction and discharge, when 
 (a) either: 

(i) all Outstanding Securities of such series theretofore authenticated and delivered (other than (i) any Securities
of such series which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 3.7 and Outstanding Securities of such series for whose payment money has theretofore been deposited in trust or segregated and
held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 12.3) have been delivered to the Trustee for cancellation; or 

(ii) all Outstanding Securities of such series described in sub-clause (i) above (other than the Securities referred
to in the parenthetical phrase thereof) not theretofore delivered to the Trustee for cancellation: 
 (x) have become due and
payable; 
  

 59 

 (y) will become due and payable at their Stated Maturity within one year; or 

(z) if redeemable at the option of the Company or pursuant to the operation of a sinking fund, are to be called for redemption within one
year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company; and the Company has irrevocably deposited or caused to be irrevocably deposited with the
Trustee as trust funds in trust an amount (except as otherwise specified pursuant to Section 3.1 for the Securities of such series) sufficient to pay and discharge the entire indebtedness on all such Outstanding Securities of such series, not
therefore delivered to the Trustee for cancellation, including the principal of, any premium and interest (including any Additional Interest) on, and any Additional Amounts with respect to such Securities (based upon applicable law as in effect on
the date of such deposit), to the date of such deposit (in the case of Securities which have become due and payable) or to the Maturity thereof, as the case may be; 

(b) the Company has paid or caused to be paid all other sums payable with respect to the Outstanding Securities of such series including
all fees due to the Trustee under Section 7.6; 
 (c) the Company has delivered to the Trustee an Officer’s
Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the due satisfaction and discharge of this Indenture with respect to the entire indebtedness on all Outstanding Securities of any such
series have been complied with; and 
 (d) if the Securities of such series are not to become due and payable at their Stated
Maturity within one year of the date of such deposit or are not to be called for redemption within one year of the date of such deposit under arrangements satisfactory to the Trustee as of the date of such deposit, then the Company shall have given,
not later than the date of such deposit, notice of such deposit to the Holders of the Securities of such series. 
 Upon the
satisfaction of the conditions set forth in this Section 12.1 with respect to all the Outstanding Securities of any series, the terms and conditions with respect thereto set forth in this Indenture shall no longer be binding upon, or applicable
to, the Company; provided, however, that the Company shall not be discharged from (a) any obligations under Section 7.6 and Section 7.10 and (b) any obligations under Section 3.6, Section 3.7, Section 5.1 and
Section 12.3 and (c) any obligations under Section 4.4, with respect to the payment of any Additional Amounts, if any, (but only to the extent that the Additional Amounts payable with respect to any Outstanding Securities of such
series exceed the amount deposited in respect of such Additional Amounts pursuant to Section 12.1(a)(ii)); and provided, further, that in the event a petition for relief under the Federal Bankruptcy Code or a successor statute is filed with
respect to the Company within 91 days after the deposit, this Indenture with respect to the entire indebtedness on all Securities of such series shall not be discharged, and in such event the Trustee shall return such deposited funds or obligations
as it is then holding to the Company upon Company Request. 
  

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 Section 12.2 Defeasance and Covenant Defeasance. 

(a) Unless pursuant to Section 3.1, either or both of (i) defeasance of the Securities of or within a series under clause of
this Section 12.2 shall not be applicable with respect to the Securities of such series or (ii) covenant defeasance of the Securities of or within a series under clause of this Section 12.2 shall not be applicable with respect to the
Securities of such series, then such provisions, together with the other provisions of this Section 12.2 (with such modifications thereto as may be specified pursuant to Section 3.1 with respect to any Securities), shall be applicable to
such Securities and the Company may at its option by Board Resolution, at any time, with respect to such Securities, elect to have Section 12.2(b) or Section 12.2(c) be applied to such Outstanding Securities upon compliance with the
conditions set forth below in this Section 12.2. 
 (b) Upon the Company’s exercise of the above option applicable to
this Section 12.2(b) with respect to any Securities of or within a series, the Company shall be deemed to have been discharged from its obligations with respect to such Outstanding Securities on the date the conditions set forth in clause
(d) of this Section 12.2 are satisfied (hereinafter, “defeasance”). For this purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire Indebtedness represented by such Outstanding
Securities, and under the Guarantee in respect thereof, which shall thereafter be deemed to be “Outstanding” only for the purposes of clause (c) of this Section 12.2 and the other Sections of this Indenture referred to in clauses
(i) and (ii) below, and to have satisfied all of its other obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging the same), except for the following which shall survive until otherwise terminated or discharged hereunder: (i) the rights of Holders of such Outstanding Securities, solely from the trust fund described in clause (d) of this
Section 12.2 and as more fully set forth in such clause, payments in respect of the principal of (and premium, if any) and interest (including Additional Interest), if any, on, and Additional Amounts, if any, with respect to, such Securities
when such payments are due, and any rights of such Holder to convert such Securities into other Securities of the Company or exchange such Securities for securities of another issuer; (ii) the obligations of the Company and the Trustee with
respect to such Securities under Sections 3.6, 3.7, 4.2, 4.3 and 12.3 and with respect to the payment of Additional Amounts, if any, on such Securities as contemplated by Section 4.4 (but only to the extent that the Additional Amounts payable
with respect to such Securities exceed the amount deposited in respect of such Additional Amounts pursuant to Section 12.2(d)(i) below), and with respect to any rights to convert such Securities into other securities of the Company or exchange
such Securities for securities of another issuer; (iii) the rights, powers, trusts, duties and immunities of the Trustee hereunder including, without limitation, the compensation, reimbursement and indemnities provided in Section 7.6
herein; and (iv) this Section 12.2. The Company may exercise its option under this Section 12.2(b) notwithstanding the prior exercise of its option under clause (c) of this Section 12.2 with respect to such Securities.

 (c) Upon the Company’s exercise of the option to have this Section 12.2(c) apply with respect to any Securities of
or within a series, the Company shall be released from its obligations in respect of any other covenant applicable to such Securities, with respect to such Outstanding Securities on and after the date the conditions set forth in clause (d) of
this Section 12.2 are satisfied (hereinafter, “covenant defeasance”), and such Securities shall thereafter be deemed to be not “Outstanding” for the purposes of any direction, waiver, consent or declaration

  

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or Act of Holders (and the consequences of any thereof) in connection with any such covenant or obligation, but shall continue to be deemed “Outstanding” for all other purposes
hereunder. For this purpose, such covenant defeasance means that, with respect to such Outstanding Securities, the Company may omit to comply with, and shall have no liability in respect of, any term, condition or limitation set forth in any such
Section or such other covenant or obligation, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or such other covenant or obligation or by reason of reference in any such Section or such other covenant
to any other provision herein or in any other document and such omission to comply shall not constitute a default or an Event of Default under Section 6.1 but, except as specified above, the remainder of this Indenture and such Securities shall
be unaffected thereby. 
 (d) The following shall be the conditions to application of clause (b) or (c) of this
Section 12.2 to any Outstanding Securities of or within a series: 
 (i) The Company shall irrevocably have
deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 7.8 who shall agree to comply with the provisions of this Section 12.2 applicable to it) as trust funds in trust for the
purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities, (1) an amount in Dollars or in such Foreign Currency in which such Securities are then
specified as payable at Stated Maturity, or (2) Government Obligations applicable to such Securities (determined on the basis of the Currency in which such Securities are then specified as payable at Stated Maturity) which through the scheduled
payment of principal and interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment with respect to such Securities, money in an amount, or (3) a combination thereof, in
any case, in an amount, sufficient, without consideration of any reinvestment of such principal and interest, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge, (y) the principal of (and premium, if any) and interest (including any Additional Interest), if any, on, and any
Additional Amounts with respect to such Securities (based upon applicable law as in effect on the date of such deposit), such Outstanding Securities at the Stated Maturity or Redemption Date of such principal or installment of principal or premium
or interest and (z) any mandatory sinking fund payments or analogous payments applicable to such Outstanding Securities on the days on which such payments are due and payable in accordance with the terms of this Indenture and of such Securities
and, if applicable, shall have made irrevocable arrangements satisfactory to the Trustee for the redemption of any Securities to be redeemed at the option of the Company in connection with such deposit. 

(ii) No Event of Default or event which with notice or lapse of time or both would become an Event of Default with respect
to such Securities shall have occurred and be continuing on the date of such deposit (after giving effect thereto) and, with respect to defeasance only, no event described in Section 6.1(f) or (g) at any time during the period ending on
the 91st day after the date of such deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period). 
  

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 (iii) Such defeasance or covenant defeasance shall not result in a breach or
violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Company is a party or by which it is bound. 

(iv) In the case of an election under clause (b) of this Section 12.2 for which the Place of Payment is within
the United States, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (i) the Company has received from the Internal Revenue Service a letter ruling, or there has been published by the Internal Revenue Service a
Revenue Ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the Holders of such
Outstanding Securities will not recognize income, gain or loss for Federal income tax purposes as a result of such defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been
the case if such defeasance had not occurred. 
 (v) In the case of an election under clause (c) of this
Section 12.2 with respect to Requested Securities and for which the Place of Payment is within the United States, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Outstanding
Securities will not recognize income, gain or loss for Federal income tax purposes as a result of such covenant defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the
case if such covenant defeasance had not occurred. 
 (vi) With respect to defeasance only, the Company shall
have delivered to the Trustee an Opinion of Counsel to the effect that, after the 91st day after the date of deposit, all money and Government Obligations (or other property as may be provided pursuant to Section 3.1) (including the proceeds
thereof) deposited or caused to be deposited with the Trustee (or other qualifying trustee) pursuant to this clause (d) to be held in trust will not be subject to recapture or avoidance as a preference in any case or proceeding (whether
voluntary or involuntary) in respect of the Company under any Federal or State bankruptcy, insolvency, reorganization or other similar law, or any decree or order for relief in respect of the Company issued in connection therewith (for which purpose
such Opinion of Counsel may assume that no Holder is an “insider”). 
 (vii) With respect to defeasance
only, the Company shall have delivered to the Trustee an Officer’s Certificate as to solvency and the absence of any intent of preferring the Holders over any other creditors of the Company. 

(viii) The Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each
stating that all conditions precedent to the defeasance or covenant defeasance under clause (b) or (c) of this Section 12.2 (as the case may be) have been complied with. 

(ix) Notwithstanding any other provisions of this Section 12.2(d), such defeasance or covenant defeasance shall be
effected in compliance with any additional or substitute terms, conditions or limitations which may be imposed on the Company in connection therewith pursuant to Section 3.1. 

 

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 (e) Unless otherwise specified in or pursuant to this Indenture, if, after a deposit
referred to in Section 12.2(d)(i) has been made, (i) the Holder of a Security in respect of which such deposit was made is entitled to, and does, elect pursuant to Section 3.1 or the terms of such Security to receive payment in a
Currency other than that in which the deposit pursuant to Section 12.2(d)(i) has been made in respect of such Security, or (ii) a Conversion Event occurs in respect of the Foreign Currency in which the deposit pursuant to
Section 12.2(d)(i) has been made, the indebtedness represented by such Security shall be deemed to have been, and will be, fully discharged and satisfied through the payment of the principal of (and premium, if any), and interest (including any
Additional Interest), if any, on, and Additional Amounts, if any, with respect to, such Security as the same becomes due out of the proceeds yielded by converting (from time to time as specified below in the case of any such election) the amount or
other property deposited in respect of such Security into the Currency in which such Security becomes payable as a result of such election or Conversion Event based on (x) in the case of payments made pursuant to clause (i) above, the
applicable market exchange rate for such Currency in effect on the second Business Day prior to each payment date, or (y) with respect to a Conversion Event, the applicable market exchange rate for such Foreign Currency in effect (as nearly as
feasible) at the time of the Conversion Event. 
 The Company shall pay and indemnify the Trustee (or other qualifying trustee,
collectively for purposes of this Section 12.2(d) and Section 12.3, the “Trustee”) against any tax, fee or other charge, imposed on or assessed against the Government Obligations deposited pursuant to this Section 12.2 or
the principal or interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of such Outstanding Securities. 

Anything in this Section 12.2 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time
upon Company Request any money or Government Obligations (or other property and any proceeds therefrom) held by it as provided in clause (d) of this Section 12.2 which, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect a defeasance or covenant defeasance, as applicable, in accordance with this
Section 12.2. 
 Section 12.3 Application of Trust Money. All money and obligations deposited with the Trustee
pursuant to Section 12.1 or 12.2 shall be held irrevocably in trust and shall be made under the terms of an escrow trust agreement in form and substance satisfactory to the Company and the Trustee. Such money and obligations shall be applied by
the Trustee, in accordance with the provisions of the Securities, this Indenture and such escrow trust agreement, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may
determine, to the Persons entitled thereto, of the principal of (and premium, if any) and interest (including any Additional Interest), if any, on the Securities for the payment of which such money and obligations have been deposited with the
Trustee. If Securities of any series are to be redeemed prior to their Stated Maturity, whether pursuant to any optional redemption provisions or in accordance with any mandatory or optional sinking fund requirement, the Company shall give the
required notice of redemption or shall make such arrangements as are satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company. 

 

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 Section 12.4 Repayment of Moneys Held by Paying Agent. In connection with the
satisfaction and discharge of this Indenture with respect to Securities of any series, all moneys with respect to such series then held by any Paying Agent (and not required for such satisfaction and discharge) shall, upon demand of the Company, be
repaid to it or paid to the Trustee and thereupon such Paying Agent shall be released from all further liability with respect to such moneys. 

Section 12.5 Return of Unclaimed Moneys Held by Trustee and Paying Agent. Any moneys deposited with or paid to the Trustee or
any Paying Agent for the payment of the principal of, or premium, if any, or interest, if any, on, Securities of any series and which shall not be applied but shall remain unclaimed by the Holders of Securities of such series for two years after the
date upon which such payment shall have become due and payable, shall be repaid to the Company by the Trustee on demand; and the Holder of any of such Securities entitled to receive such payment shall thereafter look only to the Company for the
payment thereof; provided, however, that the Company or the Trustee, before making any such repayment, shall at the expense of the Company cause to be published once a week for two successive weeks (in each case on any day of the week) in an
Authorized Newspaper, or mail to each Holder, or both, a notice that said moneys have not been so applied and that after a date named therein any unclaimed balance of said moneys then remaining will be returned to the Company. 

If the Trustee or Paying Agent is unable to apply any money in accordance with Section 12.3 by reason of any order or judgment of
any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Securities shall be revived and reinstated as though no deposit had occurred
pursuant to Section 12.1 or Section 12.2 until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 12.3; provided, however, that if the Company makes any payment of interest on or
principal of, or any Additional Amounts, with respect to any Security following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money held by the
Trustee or Paying Agent. 
 ARTICLE 13 

SUBORDINATION OF SECURITIES 

Section 13.1 Agreement to Subordinate. The Company covenants and agrees, and each Holder of Securities issued hereunder and
under any indenture supplemental hereto or pursuant to a Board Resolution and Officers’ Certificate (“Additional Provisions”) by such Holder’s acceptance thereof likewise covenants and agrees, that all Securities shall be issued
subject to the provisions of this ARTICLE 13; and each Holder of a Security, whether upon original issue or upon transfer or assignment thereof, accepts and agrees to be bound by such provisions. 

 

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 The payment by the Company of the principal of, any premium and interest (including any
Additional Interest) on and any Additional Amounts with respect to all Securities of each series issued hereunder and under any Additional Provisions shall, to the extent and in the manner hereinafter set forth and subject to the provisions of the
related supplemental indenture, be subordinate in right of payment to the prior payment in full of all Company Senior Indebtedness with respect to such series, whether outstanding at the date of this Indenture or thereafter incurred. 

No provision of this ARTICLE 13 shall prevent the occurrence of any default or Event of Default hereunder. 

Section 13.2 Default on Company Senior Indebtedness. In the event and during the continuation of any default by the Company
in the payment of principal, premium, interest or any other amount due on any Company Senior Indebtedness with respect to the Securities of any series, or in the event that the maturity of any Company Senior Indebtedness with respect to the
Securities of any series has been accelerated because of a default, then, in either case, no payment shall be made by the Company with respect to the principal (including redemption and sinking fund payments) of, any premium or interest (including
any Additional Interest) on, or any Additional Amounts with respect to, the Securities of such series or to acquire such Securities (other than pursuant to the conversion of such Securities). 

In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee when such payment is prohibited by the
preceding paragraph of this Section 13.2, such payment shall be held in trust for the benefit of, and shall be paid over or delivered to, the holders of such Company Senior Indebtedness or their respective representatives, or to the trustee or
trustees under any indenture pursuant to which any of such Company Senior Indebtedness may have been issued, as their respective interests may appear, but only to the extent that the holders of such Company Senior Indebtedness (or their
representative or representatives or a trustee) notify the Trustee in writing within 90 days of such payment of the amounts then due and owing on such Company Senior Indebtedness and only the amounts specified in such notice to the Trustee shall be
paid to the holders of such Company Senior Indebtedness. 
 Section 13.3 Liquidation; Dissolution; Bankruptcy. Upon
any payment by the Company or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors upon any total or partial liquidation, dissolution, winding-up, reorganization, assignment for the
benefit of creditors or marshaling of assets of the Company, whether voluntary or involuntary, or in bankruptcy, insolvency, receivership or other similar proceedings relating to the Company or its assets, all amounts due upon all Company Senior
Indebtedness with respect to the Securities of any series shall first be paid in full, or payment thereof provided for in money in accordance with its terms, before any payment is made by the Company on account of the principal of, premium or
interest (including any Additional Interest) on, or Additional Amounts with respect to, the Securities of such series; and in any such case, any payment by the Company, or distribution of assets of the Company of any kind or character, whether in
cash, property or securities, to which the Holders or the Trustee (on behalf of Holders with respect to the principal of, premium or interest on or Additional Amounts with respect to, the Securities of such Series) would be entitled to receive from
the Company, except for the provisions of this ARTICLE 13, shall be paid by the Company or by any receiver, trustee in bankruptcy, liquidating trustee, agent or other Person making such payment or distribution, or by 

 

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the Holders or by the Trustee under this Indenture if received by them or it, directly to the holders of such Company Senior Indebtedness (pro rata to such holders having equal seniority on the
basis of the respective amounts of such Company Senior Indebtedness held by such holders, as calculated by the Company) or their representative or representatives, or to the trustee or trustees under any indenture pursuant to which any instruments
evidencing such Company Senior Indebtedness may have been issued, as their respective interests may appear, to the extent necessary to pay such Company Senior Indebtedness in full, in money or money’s worth, after giving effect to any
concurrent payment or distribution to or for the holders of such Company Senior Indebtedness, before any payment or distribution is made to the Holders of the Securities of such series or to the Trustee. 

In the event that, notwithstanding the foregoing, any payment or distribution of assets of the Company of any kind or character, whether
in cash, property or securities, prohibited by the foregoing shall be received by the Trustee before all such Company Senior Indebtedness is paid in full, or provision is made for such payment in money in accordance with its terms, such payment or
distribution shall be held in trust for the benefit of and shall be paid over or delivered to the holders of such Company Senior Indebtedness or their representative or representatives, or to the trustee or trustees under any indenture pursuant to
which any instruments evidencing such Company Senior Indebtedness may have been issued, as their respective interests may appear, as calculated by the Company, for application to the payment of all such Company Senior Indebtedness remaining unpaid
to the extent necessary to pay such Company Senior Indebtedness in full in money in accordance with its terms, after giving effect to any concurrent payment or distribution to or for the benefit of the holders of such Company Senior Indebtedness.

 For purposes of this ARTICLE 13, the words “cash, property or securities” shall not be deemed to include common
shares of the Company as reorganized or readjusted, or securities of the Company or any other corporation provided for by a plan of reorganization or readjustment, the payment of which is subordinated at least to the extent provided in this ARTICLE
13 with respect to the Securities of the relevant series to the payment of all Company Senior Indebtedness with respect to the Securities of such series that may at the time be outstanding, provided that (i) such Company Senior Indebtedness is
assumed by the new corporation, if any, resulting from any such reorganization or readjustment, and (ii) the rights of the holders of such Company Senior Indebtedness are not, without the consent of such holders, altered by such reorganization
or readjustment. The consolidation or amalgamation of the Company with, or the merger of the Company into, another Person or the liquidation or dissolution of the Company following the conveyance, transfer or lease of its property as an entirety, or
substantially as an entirety, to another Person upon the terms and conditions provided for in Sections 11.1 and 11.3 of this Indenture shall not be deemed a dissolution, winding-up, liquidation or reorganization for the purposes of this
Section 13.3 if such other Person shall, as a part of such consolidation, merger, conveyance or transfer, comply with the conditions stated in Sections 11.1 and 11.3 of this Indenture. 

Section 13.4 Subrogation. Subject to the payment in full of all Company Senior Indebtedness with respect to the Securities of
any series, the rights of the Holders of the Securities of such series shall be subrogated to the rights of the holders of such Company Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company

  

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applicable to such Company Senior Indebtedness until the principal of, any premium and interest (including any Additional Interest) on, and any Additional Amounts with respect to, the Securities
of such series shall be paid in full; and, for the purposes of such subrogation, no payments or distributions to the holders of such Company Senior Indebtedness of any cash, property or securities to which the Holders or the Trustee would be
entitled except for the provisions of this ARTICLE 13, and no payment over pursuant to the provisions of this ARTICLE 13 to or for the benefit of the holders of such Company Senior Indebtedness by Holders of the Securities of such series or the
Trustee, shall, as between the Company, its creditors other than holders of such Company Senior Indebtedness, and the Holders of the Securities of such series, be deemed to be a payment by the Company to or on account of such Company Senior
Indebtedness. It is understood that the provisions of this ARTICLE 13 are and are intended solely for the purposes of defining the relative rights of the Holders of the Securities of each series, on the one hand, and the holders of the Company
Senior Indebtedness with respect to the Securities of such series on the other hand. 
 Nothing contained in this ARTICLE 13 or
elsewhere in this Indenture, any Additional Provisions or in the Securities of any series is intended to or shall impair, as between the Company, its creditors other than the holders of Company Senior Indebtedness with respect to the Securities of
such series, and the Holders of the Securities of such series, the obligation of the Company, which is absolute and unconditional, to pay to the Holders of the Securities of such series the principal of, any premium and interest (including any
Additional Interest) on, and any Additional Amounts with respect to, the Securities of such series as and when the same shall become due and payable in accordance with their terms, or is intended to or shall affect the relative rights of the Holders
of the Securities of such series and creditors of the Company, other than the holders of such Company Senior Indebtedness, nor shall anything herein or therein prevent the Trustee or the Holder of any Security of such series from exercising all
remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this ARTICLE 13 of the holders of such Company Senior Indebtedness in respect of cash, property or securities of the Company, as
the case may be, received upon the exercise of any such remedy. 
 Upon any payment or distribution of assets of the Company
referred to in this Article, the Trustee, subject to the provisions of ARTICLE 7 of this Indenture, and the Holders shall be entitled to conclusively rely upon any order or decree made by any court of competent jurisdiction in which such
dissolution, winding-up, liquidation or reorganization proceedings are pending, or a certificate of the receiver, trustee in bankruptcy, liquidation trustee, agent or other Person making such payment or distribution, delivered to the Trustee or to
the Holders of the Securities of any series, for the purposes of ascertaining the Persons entitled to participate in such distribution, the holders of Company Senior Indebtedness with respect to the Securities of such series and other indebtedness
of the Company, as the case may be, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this ARTICLE 13. 

Section 13.5 Trustee to Effectuate Subordination. Each Holder of Securities by such Holder’s acceptance thereof
authorizes and directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the subordination provided in this ARTICLE 13 and appoints the Trustee such Holder’s attorney-in-fact for any
and all such purposes. 
  

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 Section 13.6 Notice by the Company. The Company shall give prompt written notice
to a Responsible Officer of the Trustee of any fact known to the Company that would prohibit the making of any payment of monies to or by the Trustee in respect of the Securities of any series pursuant to the provisions of this ARTICLE 13.
Notwithstanding the provisions of this ARTICLE 13 or any other provision of this Indenture or any Additional Provisions, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment of
monies to or by the Trustee in respect of the Securities of any series pursuant to the provisions of this ARTICLE 13, unless and until a Responsible Officer of the Trustee shall have received written notice thereof from the Company or a holder or
holders of Company Senior Indebtedness with respect to the Securities of such series or from any trustee therefor; and before the receipt of any such written notice, the Trustee, subject to the provisions of ARTICLE 7 of this Indenture, shall be
entitled in all respects to assume that no such facts exist; provided, however, that if the Trustee shall not have received the notice provided for in this Section 13.6 at least two Business Days prior to the date upon which by the terms hereof
any money may become payable for any purpose (including, without limitation, the payment of the principal of, any premium or interest (including any Additional Interest) on, or any Additional Amounts with respect to, any Security of such series),
then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive such money and to apply the same to the purposes for which they were received, and shall not be affected by any notice to the
contrary that may be received by it within two Business Days prior to such date. 
 The Trustee, subject to the provisions of
ARTICLE 7 of this Indenture, shall be entitled to conclusively rely on the delivery to it of a written notice by a Person representing himself to be a holder of Company Senior Indebtedness with respect to the Securities of any series (or a trustee
on behalf of such holder), to establish that such notice has been given by a holder of such Company Senior Indebtedness or a trustee on behalf of any such holder or holders. In the event that the Trustee determines in good faith that further
evidence is required with respect to the right of any Person as a holder of such Company Senior Indebtedness to participate in any payment or distribution pursuant to this ARTICLE 13, the Trustee may request such Person to furnish evidence to the
reasonable satisfaction of the Trustee as to the amount of such Company Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights
of such Person under this ARTICLE 13, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 

Section 13.7 Rights of the Trustee; Holders of Company Senior Indebtedness. The Trustee in its individual capacity shall be
entitled to all the rights set forth in this ARTICLE 13 in respect of any Company Senior Indebtedness with respect to the Securities of any series at any time held by it, to the same extent as any other holder of such Company Senior Indebtedness,
and nothing in this Indenture or any Additional Provisions shall deprive the Trustee of any of its rights as such holder. 
  

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 With respect to the holders of Company Senior Indebtedness with respect to the Securities of
any series, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this ARTICLE 13, and no implied covenants or obligations with respect to the holders of such Company Senior
Indebtedness shall be read into this Indenture or any Additional Provisions against the Trustee. The Trustee shall not be deemed to owe any fiduciary duty to the holders of such Company Senior Indebtedness and, subject to the provisions of ARTICLE 7
of this Indenture, the Trustee shall not be liable to any holder of such Company Senior Indebtedness if it shall mistakenly or otherwise pay over or deliver to Holders of the Securities of such series, the Company or any other Person money or assets
to which any holder of such Company Senior Indebtedness shall be entitled by virtue of this ARTICLE 13 or otherwise. 
 Nothing
in this ARTICLE 13 shall apply to claims of, or payments to, the Trustee under or pursuant to Section 7.6. 

Section 13.8 Trustee Not Fiduciary for Holders of Senior Indebtedness. The Trustee shall not be deemed to owe any fiduciary
duty to the holders of Senior Indebtedness and shall not be liable to any such holders if the Trustee shall in good faith mistakenly pay over or distribute to Holders of Securities or to the Company or to any other person cash, property or
securities to which any holders of Senior Indebtedness shall be entitled by virtue of this Article or otherwise. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants or
obligations as are specifically set forth in this Article and no implied covenants or obligations with respect to holders of Senior Indebtedness shall be read into this Indenture against the Trustee. 

Section 13.9 Subordination May Not Be Impaired. No right of any present or future holder of any Company Senior Indebtedness
to enforce subordination as herein provided shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company, or by any act or failure to act, in good faith, by any such holder, or by any noncompliance
by the Company with the terms, provisions and covenants of this Indenture, regardless of any knowledge thereof that any such holder may have or otherwise be charged with. Without in any way limiting the generality of the foregoing paragraph, the
holders of Company Senior Indebtedness with respect to the Securities of any series may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders of Securities of such series, without incurring responsibility
to such Holders and without impairing or releasing the subordination provided in this ARTICLE 13 or the obligations hereunder of the Holders of the Securities of such series to the holders of such Company Senior Indebtedness, do any one or more of
the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, such Company Senior Indebtedness, or otherwise amend or supplement in any manner such Company Senior Indebtedness or any
instrument evidencing the same or any agreement under which such Company Senior Indebtedness is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing such Company Senior
Indebtedness; (iii) release any Person liable in any manner for the collection of such Company Senior Indebtedness; and (iv) exercise or refrain from exercising any rights against the Company and any other Person. 

Section 13.10 Application by Trustee of Assets Deposited with It. Amounts deposited in trust with the Trustee pursuant to and
in accordance with this Indenture, including without limitation pursuant to ARTICLE 12 hereof, shall be for the sole benefit of the Holders of the 
  

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Securities and, to the extent allocated for the payment of Securities, shall not be subject to the subordination provisions of this ARTICLE 13. Otherwise, any deposit of assets with the Trustee
or any Paying Agent (whether or not in trust) for the payment of any Securities shall be subject to the provisions of Sections 13.1, 13.2, and 13.3; provided that, if prior to two Business Days preceding the date on which by the terms of this
Indenture any such assets may become distributable for any purpose (including, without limitation, the payment of any amount due on any Security) the Trustee or such Paying Agent shall not have received with respect to such assets the written notice
provided for in Section 13.6, then the Trustee or such Paying Agent shall have full power and authority to receive such assets and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the
contrary which may be received by it on or after such date. 
 ARTICLE 14 

MISCELLANEOUS PROVISIONS 

Section 14.1 Incorporators, Shareholders, Officers and Directors of Company Exempt from Individual Liability. No recourse
under or upon any obligation, covenant or agreement contained in this Indenture, or in any Security, or for any claim based thereon or otherwise in respect thereof, or because of any indebtedness evidenced thereby, shall be had against any
incorporator, as such, or against any past, present or future shareholder (except in a shareholder’s corporate capacity as Guarantor), officer or director, as such, of the Company or of any successor, either directly or through the Company or
any successor, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise it being expressly understood that this Indenture and the obligations issued
hereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, shareholders, officers or directors, as such, of the Company, 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 Security or implied therefrom; and that any and all such personal liability of every name and
nature, 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, shareholder, officer or director, as 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 Security 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 such Security. 
 Section 14.2 Provisions of Indenture for the Sole Benefit of
Parties and Securityholders. Except as otherwise expressly provided herein with respect to holders of Preferred Securities, nothing in this Indenture or in the Securities, expressed or implied, shall give or be construed to give to any Person,
other than the parties hereto and their successors, the Holders of the Securities and holders of Senior Indebtedness, any legal or equitable right, remedy or claim under this Indenture or under any covenant or provision herein contained, all such
covenants and provisions being for the sole benefit of the parties hereto and their successors and the Holders of the Securities. 
  

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 Section 14.3 Successors and Assigns of Company Bound by Indenture. All the
covenants, stipulations, promises and agreements in this Indenture contained by or on behalf of the Company shall bind its successors and assigns, whether so expressed or not. 

Section 14.4 Holders of Preferred Securities as Third Party Beneficiaries. The Company hereby acknowledges that, to the
extent specifically set forth herein, the holders of the Preferred Securities of a Alterra Capital Trust shall expressly be third party beneficiaries of this Indenture. The Company further acknowledges that, if an Event of Default has occurred and
is continuing and is attributable to the failure of the Company to pay the principal of or premium, if any, or interest on or Additional Amounts with respect to the Securities of the series held by such Alterra Capital Trust, any holder of the
Preferred Securities of such Alterra Capital Trust may institute a Direct Action against the Company. 
 Section 14.5
Notices 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 by first-class mail, postage prepaid,
to such Holders as their names and addresses appear on the Securities Register within the time prescribed. 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 on such waiver. 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, and any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly given. In the case by reason of the suspension of regular mail service or by reason of any other cause it shall be
impracticable to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. In case by reason of the suspension of publication of any
Authorized Newspapers or by reason of any other cause it shall be impracticable to publish any notice to Holders otherwise required or permitted under this Indenture, then such notification as shall be given with the approval of the Trustee shall
constitute sufficient notice to such Holders for every purpose hereunder. 
 Section 14.6 Addresses for Notices. Any
notice or demand which by any provision of this Indenture is required or permitted to be given or served by the Trustee or by the Holders of Securities of any series on the Company may be given or served by registered mail addressed (until another
address is filed by the Company with the Trustee) as follows: Alterra Capital Holdings Limited, Alterra House, 2 Front Street, Hamilton, HM 11, Bermuda, Attention: General Counsel. Any notice, direction, request or demand by the Company or any
Holders of Securities of any series to or upon the Trustee shall be deemed to have been sufficiently given or made, for all purposes, if received at the Corporate Trust Office of such Trustee. 

Section 14.7 Officer’s Certificates and Opinions of Counsel; Statements to Be Contained Therein. Upon any application or
demand by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent (including any covenants compliance
with which constitutes a condition precedent), if any, provided for in this Indenture relating to 
  

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the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent (including any covenants compliance with which
constitutes a condition precedent) have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such
particular application or demand, no additional certificate or opinion need be furnished. 
 Each certificate or opinion
provided for in this Indenture (other than annual certificates provided pursuant to Section 4.10) and delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include (a) a
statement that the Person making such certificate or opinion has read such covenant or condition, (b) 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, (c) a statement that, in the opinion of such Person, 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 (d) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with. 

Any certificate, statement or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a
certificate or opinion of or representations by counsel, unless such officer knows that the certificate or opinion or representations with respect to the matters upon which his certificate, statement or opinion may be based as aforesaid are
erroneous, or in the exercise of reasonable care should know that the same are erroneous. 
 Any certificate, statement or
opinion of counsel may be based, insofar as it relates to factual matters, information with respect to which is in the possession of the Company, upon the certificate, statement or opinion of or representations by an officer or officers of the
Company, unless such counsel knows that the certificate, statement or opinion or representations with respect to the matters upon which his certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable
care should know that the same are erroneous. Any certificate, statement or opinion of an officer of the Company or of counsel may be based, insofar as it relates to accounting matters, upon a certificate or opinion of or representations by an
accountant or firm of accountants in the employ of the Company, unless such officer or counsel, as the case may be, knows that the certificate or opinion or representations with respect to the accounting matters upon which his certificate, statement
or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable care should know that the same are erroneous. Any certificate or opinion of any independent firm of public accountants filed with the Trustee shall contain a
statement that such firm is independent. 
 Section 14.8 Separability Clause. In case any provision of this
Indenture or of 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 14.9 Legal Holidays. In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Security
shall not be a Business Day in any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities, other than a provision in Securities of any series, or any Tranche thereof, or in the indenture 

 

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supplemental hereto, Board Resolution or Officer’s Certificate that establishes the terms of the Securities of such series or Tranche, which specifically states that such provision shall
apply in lieu of this Section) payment of interest or principal and premium, if any, 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, and no interest shall accrue
on the amount so payable for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be, to such Business Day, except that if such next succeeding Business Day is in the next succeeding calendar
year, such payment may be made, and such Securities may be converted or exchanged, on the immediately preceding Business Day (in the case of each of the foregoing, with the same force and effect as if made on such Interest Payment Date or at such
Stated Maturity or Maturity or on such last day for conversion or exchange, as the case may be). 
 Section 14.10
Conflict of Any Provision of Indenture with Trust Indenture Act. If and to the extent that any provision of this Indenture limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required under such Act to be a part
of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the former provision shall control. 

Section 14.11 Governing Law; Waiver of Jury Trial. This Indenture and each Security shall be deemed to be a contract governed
by and construed in accordance with the laws of the State of New York applicable to agreements made or instruments entered into and, in each case, performed in said state. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 

Section 14.12 Judgment Currency. The Company agrees, to the fullest extent that it may effectively do so under applicable
law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of, or premium or interest, if any, or Additional Amounts on the Securities of any series (the “Required
Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in the City of New
York the requisite amount of the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which a final unappealable judgment is given and (b) its obligations under this Indenture to make payments in the
Required Currency (i) shall not be discharged or satisfied by any tender, or any recovery pursuant to any judgment (whether or not entered in accordance with clause (a)), in any currency other than the Required Currency, except to the extent
that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of
action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable and (iii) shall not be affected by judgment
being obtained for any other sum due under this Indenture. For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York or a day on which banking institutions in
The City of New York are authorized or obligated by law, regulation or executive order to be closed. 
  

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 Section 14.13 No Security Interest Created. Nothing in this Indenture or in any
Securities, express or implied, shall be construed to constitute a security interest under the Uniform Commercial Code or similar legislation, as now or hereafter enacted and in effect in any jurisdiction where property of the Company or its
Subsidiaries is or may be located. 
 Section 14.14 Submission to Jurisdiction. The Company agrees that any judicial
proceedings instituted in relation to any matter arising under this Indenture or the Securities may be brought in any United States Federal or New York State court sitting in the Borough of Manhattan, The City of New York, New York to the extent
that such court has subject matter jurisdiction over the controversy, and, by execution and delivery of this Indenture, the Company hereby irrevocably accepts, generally and unconditionally, the jurisdiction of the aforesaid courts, acknowledges
their competence and irrevocably agrees to be bound by any judgment rendered in such proceeding. The Company also irrevocably and unconditionally waives for the benefit of the Trustee and the Holders of the Securities any immunity from jurisdiction
and any immunity from legal process (whether through service or notice, attachment prior to judgment, attachment in the aid of execution, execution or otherwise) in respect of this Indenture. The Company hereby irrevocably designates and appoints
for the benefit of the Trustee and the Holders of the Securities for the term of this Indenture CT Corporation System, 111 Eighth Avenue, New York, New York 10011, as its agent to receive on its behalf service of all process (with a copy of all such
service of process to be delivered to Alterra Capital Holdings Limited, Alterra House, 2 Front Street, Hamilton, HM 11, Bermuda, Attention: General Counsel) brought against it with respect to any such proceeding in any such court in The City of New
York, such service being hereby acknowledged by the Company to be effective and binding service on it in every respect whether or not the Company shall then be doing or shall have at any time done business in New York. Such appointment shall be
irrevocable so long as any of the Securities or the obligations of the Company hereunder remain outstanding until the appointment of a successor by the Company and such successor’s acceptance of such appointment. Upon such acceptance, the
Company shall notify the Trustee in writing of the name and address of such successor. The Company further agrees for the benefit of the Trustee and the Holders of the Securities to take any and all action, including the execution and filing of any
and all such documents and instruments, as its agent in full force and effect so long as any of the Securities or the obligations of the Company hereunder shall be outstanding. The Trustee shall not be obligated and shall have no responsibility with
respect to any failure by the Company to take any such action. Nothing herein shall affect the right to serve process in any other manner permitted by any law or limit the right of the Trustee or any Holder to institute proceedings against the
Company in the courts of any other jurisdiction or jurisdictions. 
 Section 14.15 Counterparts. This Indenture may
be executed in any number of counterparts, and on separate counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 

Section 14.16 Effect of Headings. The Article and Section headings herein and the Table of Contents are for convenience only
and shall not affect the interpretation hereof. 
  

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 Section 14.17 Force Majeure. In no event shall the Trustee be responsible or
liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation strikes, work stoppages, accidents, acts of war or
terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall
use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

ARTICLE 15 

REDEMPTION OF SECURITIES 

Section 15.1 Applicability of Article. The provisions of this Article shall be applicable to the Securities of any series
which are redeemable before their Stated Maturity except as otherwise specified as contemplated by Section 3.1 for Securities of such series. 

Section 15.2 Notice of Redemption; Selection of Securities. In case the Company shall desire to exercise the right to redeem
all or, as the case may be, any part of the Securities of any series in accordance with their terms, it shall fix a Redemption Date and shall provide notice of such redemption at least 45 days prior to such Redemption Date to the Trustee and at
least 30 days but no more than 60 days prior to such Redemption Date to the Holders of Securities of such series so to be redeemed as a whole or in part in the manner provided in Section 15.5, unless a different period is specified in the
Securities to be redeemed. The notice provided in the manner herein specified shall be conclusively presumed to have been duly given, whether or not the Holder receives such notice. In any case, failure to give such notice or any defect in the
notice to the Holder of any Security of a series designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of any other Security of such series. If the Securities of a series are held by a
Alterra Capital Trust, the Company shall also deliver a copy of such notice to the Institutional Trustee of such Alterra Capital Trust. 

Each such notice of redemption shall specify the Redemption Date, the Redemption Price, the CUSIP or other comparable number, the Place
or Places of Payment, that the Securities of such series are being redeemed at the option of the Company pursuant to provisions contained in the terms of the Securities of such series or in a supplemental indenture establishing such series, if such
be the case, together with a brief statement of the facts permitting such redemption, that payment will be made upon presentation and surrender of the applicable Securities at the Place or Places of Payment, that the Redemption Price together with
any interest accrued and Additional Amounts to the Redemption Date will be paid as specified in said notice, and that on and after said Redemption Date any interest thereon or on the portions thereof to be redeemed will cease to accrue, and any
information that is required to be included therein by the Depositary. 
 If fewer than all the Securities of any series are to
be redeemed the notice of redemption shall specify the numbers of the Securities of such series to be redeemed. In case any Security of any series is to be redeemed in part only, the notice of redemption shall state the portion of the principal
amount thereof to be redeemed and shall state that on and after the Redemption Date, upon surrender of such Security, a new Security or Securities of such series in principal amount 

 

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equal to the unredeemed portion thereof will be issued, or, in the case of Securities providing appropriate space for such notation, at the option of the Holders the Trustee, in lieu of
delivering a new Security or Securities as aforesaid, may make a notation on such Security of the payment of the redeemed portion thereof. 

On or before the Redemption Date with respect to the Securities of any series stated in the notice of redemption given as provided in
this Section 16.2, the Company will deposit with the Trustee or with one or more Paying Agents an amount of money (except as otherwise specified as contemplated by Section 3.1 for the Securities of such series or if the Company is acting
as its own Paying Agent, segregate and hold in trust as provided in Section 4.3) sufficient to redeem on such Redemption Date all the Securities or portions thereof so called for redemption at the applicable Redemption Price, together with
accrued interest on and Additional Amounts with respect thereto, to such Redemption Date. 
 If fewer than all the Securities of
any series, or any Tranche thereof, are to be redeemed, the Company shall give notice of redemption to the Trustee not less than 60 days prior to the Redemption Date as to the aggregate principal amount of Securities to be redeemed. 

If fewer than all the Securities of any series are to be redeemed, the particular Securities to be redeemed shall be selected by the
Trustee, from the Outstanding Securities of such series or Tranche not previously called for redemption, substantially pro rata, by lot or by any other method the Trustee considers fair and appropriate and that complies with the requirements of the
principal national securities exchange, if any, on which such Securities are listed, and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Securities of that series or Tranche or any
integral multiple thereof) of the principal amount of Securities of such series or Tranche of a denomination larger than the minimum authorized denomination for Securities of that series or Tranche; provided that in case the Securities of such
series or Tranche have different terms and maturities, the Securities to be redeemed shall be selected by the Company and the Company shall give notice thereof to the Trustee; provided, however, that if, as indicated in an Officer’s
Certificate, the Company shall have offered to purchase all or any principal amount of the Securities then Outstanding of any series, or any Tranche thereof, and fewer than all of such Securities as to which such offer was made shall have been
tendered to the Company for such purchase, the Trustee, if so directed by Company Order, shall select for redemption all or any principal amount of such Securities which have not been so tendered. 

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

The Trustee shall promptly notify the Company 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. 
  

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 Section 15.3 Payment of Securities Called for Redemption. If notice of
redemption has been given as above provided and the Company has deposited, on or before the Redemption Date, with the Trustee (and/or having irrevocably directed the Trustee to apply, from money held by it available to be used for the redemption of
Securities) an amount in cash sufficient to redeem all of the Securities to be redeemed, the Securities or portions of Securities of the series specified in such notice shall become due and payable on the Redemption Date, and at the place or places
stated in such notice at the applicable Redemption Price, together with any interest accrued to such Redemption Date, and on and after said Redemption Date any interest on the Securities or portion of Securities of any series so called for
redemption shall cease to accrue. On presentation and surrender of such Securities at a Place of Payment in such notice specified, such Securities or the specified portions thereof shall be paid and redeemed by the Company at the applicable
Redemption Price, together with any interest accrued and Additional Amounts to the Redemption Date, except that if such Redemption Date is an Interest Payment Date, interest shall be paid as provided in Section 3.8. 

Upon presentation of any Security redeemed in part only, the Company shall execute and the Trustee shall authenticate and make available
for delivery to or on the order of the Holder thereof, at the expense of the Company, a new Security or Securities of such series, of authorized denominations, in principal amount equal to the unredeemed portion of the Security so presented.

 If a Security in global form is so surrendered, the Company shall execute, and the Trustee shall authenticate and deliver to
the Depositary for such Security in global form as shall be specified in the Company Order with respect thereto to the Trustee, without service charge, a new Security in global form in a denomination equal to and in exchange for the unredeemed
portion of the principal of the Security in global form so surrendered. 
 If any Security called for redemption shall not be so
paid upon surrender thereof for redemption, the principal and any premium and Additional Amounts, until paid, shall bear interest from the Redemption Date at the rate prescribed therefor in the Security. 

Section 15.4 Right of Redemption of Securities Issued to a Alterra Capital Trust. In the case of the Securities of a series
issued to a Alterra Capital Trust, except as otherwise specified as contemplated by Section 3.1, if a Special Event in respect of such Alterra Capital Trust shall occur and be continuing, the Company may, at its option, redeem the Securities of
such series within 90 days of the occurrence of such Special Event, in whole but not in part, subject to the provisions of this Section 16.4 and the other provisions of this ARTICLE 16. Unless otherwise specified in or pursuant to this
Indenture or the Securities of such series, the redemption price for any Security so redeemed pursuant to this Section 16.4 shall be equal to 100% of the principal amount of such Securities then Outstanding plus accrued and unpaid interest,
including any Additional Interest, to the date fixed for redemption. 
  

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 ARTICLE 16 

SINKING FUNDS 

Section 16.1 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 3.1 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.” 

Section 16.2 Satisfaction of Mandatory Sinking Fund Payment with Securities. In lieu of making all or any part of any
mandatory sinking fund payment with respect to any Securities of a series in cash, the Company may at its option, at any time but not less than 45 days prior to the date on which such sinking fund payment is due, deliver to the Trustee Securities of
such series theretofore purchased or otherwise acquired by the Company, except Securities of such series which have been redeemed through the application of mandatory sinking fund payments pursuant to the terms of the Securities of such series,
accompanied by a company order instructing the Trustee to credit such obligations and stating that the Securities of such series were originally issued by the Company by way of bona fide sale or other negotiation for value; provided that such
Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Securities for redemption through operation of the mandatory sinking fund and
the amount of such mandatory sinking fund payment shall be reduced accordingly. 
 Section 16.3 Redemption of Securities
for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for any series of Securities, the Company will deliver to the Trustee a certificate signed by a Vice President, the Treasurer or any Assistant Treasurer of the
Company specifying the amount of the next ensuing sinking fund payment for such series pursuant to the terms of such 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 such series pursuant to Section 17.2 and whether the Company intends to exercise its rights to make a permitted optional sinking fund payment with respect to such series. Such certificate
shall be irrevocable and upon its delivery the Company shall be obligated to make the cash payment or payments therein referred to, if any, on or before the next succeeding sinking fund payment date. In the case of the failure of the Company to
deliver such certificate (or to deliver the Securities, if any, specified in such certificate within the time period specified in Section 17.2), unless otherwise agreed by the Trustee, the sinking fund payment due on the next succeeding sinking
fund payment date for such series shall be paid entirely in cash and shall be sufficient to redeem the principal amount of the Securities of such series subject to a mandatory sinking fund payment without the right to deliver or credit Securities as
provided in Section 17.2 and without the right to make any optional sinking fund payment, if any, with respect to such series. 
  

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 Any sinking fund payment or payments (mandatory or optional) made in cash plus any unused
balance of any preceding sinking fund payments made with respect to the Securities of any particular series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent) on the sinking fund payment date on
which such payment is made (or, if such payment is made before a sinking fund payment date, on the sinking fund payment date following the date of such payment) to the redemption of Securities of such series at the Redemption Price specified in such
Securities with respect to the sinking fund together with accrued interest, if any, to the applicable Redemption Date. Any sinking fund moneys not so applied or allocated by the Trustee (or by the Company if the Company is acting as its own Paying
Agent) to the redemption of Securities shall be added to the next sinking fund payment received by the Trustee (or if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 4.3) for such series and,
together with such payment (or such amount so segregated) shall be applied in accordance with the provisions of this Section 17.3. Any and all sinking fund moneys with respect to the Securities of any particular series held by the Trustee (or
if the Company is acting as its own Paying Agent, segregated and held in trust as provided in Section 4.3) on the last sinking fund payment date with respect to Securities of such series and not held for the payment or redemption of particular
Securities of such series shall be applied by the Trustee (or by the Company if the Company is acting as its own Paying Agent), together with other moneys, if necessary, to be deposited (or segregated) sufficient for the purpose, to the payment of
the principal of the Securities of such series at Maturity. 
 The Trustee shall select or cause to be selected the Securities
to be redeemed upon such sinking fund payment date in the manner specified in Section 16.2 and the Company shall cause notice of the redemption thereof to be given in the manner provided in Section 16.2 except that the notice of redemption
shall also state that the Securities are being redeemed by operation of the sinking fund and whether the sinking fund payment is mandatory or optional, or both, as the case may be. Such notice having been duly given, the redemption of the Securities
shall be made upon the terms and in the manner stated in Section 16.3. 
 On or before each sinking fund payment date, the
Company shall pay to the Trustee (or, if the Company is acting as its own Paying Agent, will segregate and hold in trust as provided in Section 4.3) in cash a sum equal to the principal and any interest accrued to the Redemption Date for
Securities or portions thereof to be redeemed on such sinking fund payment date pursuant to this Section. 
 Neither the Trustee
nor the Company shall redeem any Securities of a series with sinking fund moneys or mail any notice of redemption of Securities of such series by operation of the sinking fund for such series during the continuance of a default in payment of
interest, if any, on any Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) with respect to the Securities of such series, except that if the notice of redemption shall
have been provided in accordance with the provisions hereof, the Trustee (or the Company if the Company is acting as its own Paying Agent) shall redeem such Securities if cash sufficient for that purpose shall be deposited with the Trustee (or
segregated by the Company) for that purpose in accordance with the terms of this Article. Except as aforesaid, any moneys in the sinking fund for such series at the time when any such default or Event of Default shall occur and any moneys thereafter
paid into such sinking fund shall, during the continuance of such default or Event of Default, be held as security for the payment of the Securities of such series; provided, however, that in case such Event of Default or default shall have been
cured or waived as provided herein, such moneys shall thereafter be applied on the next sinking fund payment date for the Securities of such series on which such moneys may be applied pursuant to the provisions of this Section. 

 

 80 

 IN WITNESS WHEREOF, Alterra Capital Holdings Limited has caused this Indenture to be duly
executed as a deed as of the date above written. 
  

			
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 81 

 IN WITNESS WHEREOF, the undersigned, being duly authorized, has executed this Indenture as
of the date first above written. 
  

			
	THE BANK OF NEW YORK MELLON,
AS TRUSTEE
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 82Form of Alterra Finance LLC Senior Debt Indenture

 EXHIBIT 4.9 
  

 
  

ALTERRA FINANCE LLC, as Issuer, 

ALTERRA CAPITAL HOLDINGS LIMITED, as Guarantor 

AND 
 THE BANK OF
NEW YORK MELLON, as Trustee 
  
  

SENIOR INDENTURE 

Dated as of                  

 
  

 

 CROSS REFERENCE SHEET* 

Provisions of Trust Indenture Act of 1939 and Indenture dated as
of                            , among Alterra Finance LLC, as issuer, Alterra Capital Holdings Limited, as
guarantor, and The Bank of New York Mellon, as Trustee: 
  

			
	 Section of the Act
	  	 Section of Indenture

		
	 310(a)(1) and (2)
	  	6.9
		
	 310(a)(3) and (4)
	  	Inapplicable
		
	 310(b)
	  	6.8 and 6.10(1), (2) and (4)
		
	 310(c)
	  	Inapplicable
		
	 311(a)
	  	6.13
		
	 311(b)
	  	6.13
		
	 311(c)
	  	Inapplicable
		
	 312(a)
	  	4.1 and 4.2
		
	 312(b)
	  	4.2
		
	 312(c)
	  	4.2
		
	 313(a)
	  	4.4
		
	 313(b)(1)
	  	Inapplicable
		
	 313(b)(2)
	  	4.4
		
	 313(c)
	  	4.4, 5.11, 6.10, 6.11, 8.2 and 12.2
		
	 313(d)
	  	4.4
		
	 314(a)
	  	3.8, 3.9 and 4.3
		
	 314(b)
	  	Inapplicable
		
	 314(c)(1) and (2)
	  	11.5
		
	 314(c)(3)
	  	Inapplicable
		
	 314(d)
	  	Inapplicable
		
	 314(e)
	  	11.5
		
	 314(f)
	  	Inapplicable
		
	 315(a), (c) and (d)
	  	6.1
		
	 315(b)
	  	5.11
		
	 315(e)
	  	5.12

			
	 316(a)(1)
	  	5.9 and 5.10
		
	 316(a)(2)
	  	Not required
		
	 316(a) (last sentence)
	  	7.4
		
	 316(b)
	  	5.7
		
	 316(c)
	  	7.6
		
	 317(a)
	  	5.2
		
	 317(b)
	  	3.3
		
	 318(a)
	  	11.7

  

	*	This Cross Reference Sheet is not part of the Indenture. 

 TABLE OF CONTENTS 

 

					
	 	 	 	  	Page
		
	 ARTICLE ONE DEFINITIONS
	  	1
			
	 SECTION 1.1
	 	Certain Terms Defined	  	1
		
	 ARTICLE TWO SECURITIES
	  	9
			
	 SECTION 2.1
	 	Forms Generally	  	9
			
	 SECTION 2.2
	 	Form of Trustee’s Certificate of Authentication	  	12
			
	 SECTION 2.3
	 	Amount Unlimited; Issuable in Series	  	12
			
	 SECTION 2.4
	 	Authentication and Delivery of Securities	  	14
			
	 SECTION 2.5
	 	Execution of Securities	  	16
			
	 SECTION 2.6
	 	Certificate of Authentication	  	17
			
	 SECTION 2.7
	 	Denomination and Date of Securities; Payments of Interest	  	17
			
	 SECTION 2.8
	 	Registration, Transfer and Exchange	  	18
			
	 SECTION 2.9
	 	Mutilated, Defaced, Destroyed, Lost and Stolen Securities	  	23
			
	 SECTION 2.10
	 	Cancellation of Securities	  	24
			
	 SECTION 2.11
	 	Temporary Securities	  	24
			
	 SECTION 2.12
	 	Currency and Manner of Payments in Respect of Securities	  	25
			
	 SECTION 2.13
	 	CUSIP Numbers	  	28
			
	 SECTION 2.14
	 	Securities in Global Form	  	28
		
	 ARTICLE THREE COVENANTS
	  	28
			
	 SECTION 3.1
	 	Payment of Principal, any Premium, Interest and Additional Amounts	  	28
			
	 SECTION 3.2
	 	Offices for Notices and Payment, etc.	  	29
			
	 SECTION 3.3
	 	Money for Securities Payments to Be Held in Trust	  	29

  

 i 

					
	 SECTION 3.4
	 	Additional Amounts	  	31
			
	 SECTION 3.5
	 	Limitation on Liens on Stock of Designated Subsidiaries	  	33
			
	 SECTION 3.6
	 	Limitation on Disposition of Stock of Designated Subsidiaries	  	33
			
	 SECTION 3.7
	 	Corporate Existence	  	34
			
	 SECTION 3.8
	 	Waiver of Certain Covenants	  	34
			
	 SECTION 3.9
	 	Company Statement as to Compliance; Notice of Certain Defaults	  	34
			
	 SECTION 3.10
	 	Guarantor Statement as to Compliance; Notice of Certain Defaults	  	35
			
	 SECTION 3.11
	 	Maintenance of Properties	  	35
			
	 SECTION 3.12
	 	Further Acts and Instruments	  	36
			
	 SECTION 3.13
	 	Calculation of Original Issue Discount	  	36
		
	 ARTICLE FOUR SECURITYHOLDERS’ LISTS AND REPORTS BY THE ISSUER, GUARANTOR AND THE TRUSTEE
	  	36
			
	 SECTION 4.1
	 	Company and Guarantor to Furnish Trustee Information as to Names and Addresses of Securityholders	  	36
			
	 SECTION 4.2
	 	Preservation and Disclosure of Securityholders’ Lists	  	36
			
	 SECTION 4.3
	 	Reports by the Company and Guarantor	  	38
			
	 SECTION 4.4
	 	Reports by the Trustee	  	38
		
	 ARTICLE FIVE REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
	  	39
			
	 SECTION 5.1
	 	Event of Default Defined; Acceleration of Maturity; Waiver of Default	  	39
			
	 SECTION 5.2
	 	Collection of Indebtedness by Trustee; Trustee May Prove Debt	  	42
			
	 SECTION 5.3
	 	Application of Proceeds	  	44
			
	 SECTION 5.4
	 	Suits for Enforcement	  	45
			
	 SECTION 5.5
	 	Restoration of Rights on Abandonment of Proceedings	  	45

  

 ii 

					
	 SECTION 5.6
	 	Limitations on Suits by Securityholders	  	45
			
	 SECTION 5.7
	 	Unconditional Right of Securityholders to Institute Certain Suits	  	46
			
	 SECTION 5.8
	 	Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default	  	46
			
	 SECTION 5.9
	 	Control by Securityholders	  	46
			
	 SECTION 5.10
	 	Waiver of Past Defaults	  	47
			
	 SECTION 5.11
	 	Trustee to Give Notice of Default, But May Withhold in Certain Circumstances	  	47
			
	 SECTION 5.12
	 	Right of Court to Require Filing of Undertaking to Pay Costs	  	47
		
	 ARTICLE SIX CONCERNING THE TRUSTEE
	  	48
			
	 SECTION 6.1
	 	Duties and Responsibilities of the Trustee; During Default; Prior to Default	  	48
			
	 SECTION 6.2
	 	Certain Rights of the Trustee	  	49
			
	 SECTION 6.3
	 	Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof	  	51
			
	 SECTION 6.4
	 	Trustee and Agents May Hold Securities; Collections, etc.	  	51
			
	 SECTION 6.5
	 	Moneys Held by Trustee	  	51
			
	 SECTION 6.6
	 	Compensation and Indemnification of Trustee and Its Prior Claim	  	51
			
	 SECTION 6.7
	 	Right of Trustee to Rely on Officers’ Certificate, Guarantor’s Officer’s Certificate, etc.	  	52
			
	 SECTION 6.8
	 	Disqualification of Trustee; Conflicting Interests	  	52
			
	 SECTION 6.9
	 	Persons Eligible for Appointment as Trustee	  	52
			
	 SECTION 6.10
	 	Resignation and Removal; Appointment of Successor Trustee	  	53
			
	 SECTION 6.11
	 	Acceptance of Appointment by Successor Trustee	  	54
			
	 SECTION 6.12
	 	Merger, Conversion, Consolidation or Succession to Business of Trustee	  	55
			
	 SECTION 6.13
	 	Preferential Collection of Claims Against the Company	  	55

  

 iii 

					
	 SECTION 6.14
	 	Appointment of Co-Trustees	  	56
		
	 ARTICLE SEVEN CONCERNING THE SECURITYHOLDERS
	  	57
			
	 SECTION 7.1
	 	Evidence of Action Taken by Securityholders	  	57
			
	 SECTION 7.2
	 	Proof of Execution of Instruments	  	57
			
	 SECTION 7.3
	 	Holders to Be Treated as Owners	  	57
			
	 SECTION 7.4
	 	Securities Owned by Company Deemed Not Outstanding	  	58
			
	 SECTION 7.5
	 	Right of Revocation of Action Taken	  	58
			
	 SECTION 7.6
	 	Record Date for Determination of Holders Entitled to Vote	  	58
			
	 SECTION 7.7
	 	Regarding the Depositary	  	59
		
	 ARTICLE EIGHT SUPPLEMENTAL INDENTURES
	  	59
			
	 SECTION 8.1
	 	Supplemental Indentures Without Consent of Securityholders	  	59
			
	 SECTION 8.2
	 	Supplemental Indentures With Consent of Securityholders	  	61
			
	 SECTION 8.3
	 	Effect of Supplemental Indenture	  	62
			
	 SECTION 8.4
	 	Documents to Be Given to Trustee	  	62
			
	 SECTION 8.5
	 	Notation on Securities in Respect of Supplemental Indentures	  	62
		
	 ARTICLE NINE CONSOLIDATION, AMALGAMATION, MERGER AND SALES
	  	63
			
	 SECTION 9.1
	 	Company and Guarantor May Consolidate, etc., on Certain Terms	  	63
			
	 SECTION 9.2
	 	Successor Substituted	  	63
		
	 ARTICLE TEN SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS
	  	64
			
	 SECTION 10.1
	 	Satisfaction and Discharge of Indenture	  	64
			
	 SECTION 10.2
	 	Application by Trustee of Funds Deposited for Payment of Securities	  	69
			
	 SECTION 10.3
	 	Repayment of Moneys Held by Paying Agent	  	69
			
	 SECTION 10.4
	 	Return of Unclaimed Moneys Held by Trustee and Paying Agent	  	69
			
	 SECTION 10.5
	 	Reinstatement of Company’s and Guarantor’s Obligations	  	69

  

 iv 

					
	 SECTION 10.6
	 	Payments in Foreign Currencies	  	70
			
	 SECTION 10.7
	 	Indemnification Against Taxes	  	70
		
	 ARTICLE ELEVEN MISCELLANEOUS PROVISIONS
	  	70
			
	 SECTION 11.1
	 	Incorporators, Stockholders, Officers and Directors of Company and Guarantor Exempt from Individual Liability	  	70
			
	 SECTION 11.2
	 	Provisions of Indenture for the Sole Benefit of Parties and Securityholders	  	71
			
	 SECTION 11.3
	 	Successors and Assigns of Company and Guarantor Bound by Indenture	  	71
			
	 SECTION 11.4
	 	Notices and Demands on Company, the Guarantor, Trustee and Securityholders	  	71
			
	 SECTION 11.5
	 	Officers’ Certificates and Opinions of Counsel; Statements to Be Contained Therein	  	72
			
	 SECTION 11.6
	 	Payments Due on Saturdays, Sundays and Holidays	  	73
			
	 SECTION 11.7
	 	Conflict of Any Provision of Indenture with Trust Indenture Act of 1939	  	73
			
	 SECTION 11.8
	 	New York Law to Govern; Submission to Jurisdiction; Waiver of Trial by Jury	  	73
			
	 SECTION 11.9
	 	Counterparts	  	74
			
	 SECTION 11.10
	 	Effect of Headings	  	74
			
	 SECTION 11.11
	 	Determination of Principal Amount	  	74
		
	 ARTICLE TWELVE REDEMPTION OF SECURITIES AND SINKING FUNDS
	  	75
			
	 SECTION 12.1
	 	Applicability of Article	  	75
			
	 SECTION 12.2
	 	Notice of Redemption; Partial Redemptions	  	75
			
	 SECTION 12.3
	 	Payment of Securities Called for Redemption	  	76
			
	 SECTION 12.4
	 	Exclusion of Certain Securities from Eligibility for Selection for Redemption	  	77
			
	 SECTION 12.5
	 	Mandatory and Optional Sinking Funds	  	77
			
	 SECTION 12.6
	 	Repayment at the Option of the Holders	  	79

  

 v 

					
	 SECTION 12.7
	 	Optional Redemption For Tax Reasons	  	79
		
	 ARTICLE THIRTEEN GUARANTEE AND INDEMNITY
	  	80
			
	 SECTION 13.1
	 	The Guarantee	  	80
			
	 SECTION 13.2
	 	Guarantee Unconditional, etc.	  	81
			
	 SECTION 13.3
	 	Limitation on Liability	  	81
			
	 SECTION 13.4
	 	Reinstatement	  	82
			
	 SECTION 13.5
	 	Subrogation	  	82
			
	 SECTION 13.6
	 	Indemnity	  	82

  

 vi 

 THIS INDENTURE, dated as of
                        , among ALTERRA FINANCE LLC, a limited liability company duly organized and existing under the laws of
the State of Delaware (the “Company”), ALTERRA CAPITAL HOLDINGS LIMITED, a company duly organized and existing under the laws of Bermuda (the “Guarantor”), and THE BANK OF NEW YORK MELLON, a corporation organized under the laws
of the State of New York authorized to conduct a banking business, as Trustee (the “Trustee”). 
 W I T N E S S E T
H: 
 WHEREAS, the Company has duly authorized the issue from time to time of its notes, unsecured debentures, securities or
other evidences of indebtedness to be issued in one or more Series (the “Securities”) up to such principal amount or amounts as may from time to time be authorized in accordance with the terms of this Indenture and to provide, among other
things, for the authentication, delivery and administration thereof, the Company has duly authorized the execution and delivery of this Indenture; 

WHEREAS, for value received, the Guarantor has duly authorized the execution and delivery of this Indenture to provide for the issuance
of the Guarantee (as defined herein) and the indemnities provided for herein; and 
 WHEREAS, all things necessary to make this
Indenture a valid indenture and agreement of each party according to its terms have been done by each such party. 
 NOW,
THEREFORE: 
 In consideration of the premises and the purchases of the Securities by the Holders (as defined herein) thereof,
the Company, the Guarantor and the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective Holders from time to time of the Securities as follows: 

ARTICLE ONE 

DEFINITIONS 

SECTION 1.1 Certain Terms Defined. The following terms (except as otherwise expressly provided or unless the context otherwise
clearly requires) for all purposes of this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section. All accounting terms used herein and not expressly defined shall have the meanings assigned
to such terms in accordance with generally accepted accounting principles, and the term “generally accepted accounting principles” means such accounting principles as are generally accepted at the time of any computation. The words
“herein,” “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole, as supplemented and amended from time to time, and not to any particular Article, Section or other subdivision.
The terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular. 

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

 “Agent” means any Paying Agent, Registrar, or other agent appointed in accordance
with this Indenture to perform any function that this Indenture authorizes such agent to perform. 
 “Applicable
Procedures” means, with respect to any transfer, redemption, exchange or transaction involving any Global Security or interest therein, the rules and procedures of the Depositary that apply to such transfer, redemption, exchange or transaction.

 “Authorized Newspaper” means a newspaper, in an official language of the place of publication or in the English
language, customarily published on each day that is a business day in the place of publication, whether or not published on days that are legal holidays in the place of publication, and that has general circulation in each place in connection with
which the term is used or in the financial community of each such place. Where successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers in the same city
meeting the foregoing requirements and in each case on any day that is a Business Day in the place of publication. 

“Authorized Officer” means any authorized Officer of the Company, in each case that is duly authorized to act generally or in
any particular respect for the Company hereunder. 
 “Board of Directors” means (i) the board of directors of the
Company (or any committee of that board) or, if none, of the sole member of the Company or (ii) any Authorized Officers of the Company. 

“Board Resolution” means a copy of one or more resolutions, certified by the Secretary or an Assistant Secretary of the Company
(or its sole member) to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, delivered to the Trustee. 

“Business Day” means, except as may otherwise be provided in the form of Securities of any particular Series, any day, other
than a Saturday or Sunday, or other day on which banking institutions are authorized or required by law or regulation to close in New York, New York or Hamilton, Bermuda, and, with respect to Securities denominated in a Foreign Currency, the capital
city of the country of such Foreign Currency, or, with respect to Securities denominated in the Euro, Brussels, Belgium. 

“Capital Stock” of any Person means any and all shares, interests, rights to purchase, warrants, options, participations or
other equivalents of or interests in (however designated) equity of such Person, including Preferred Stock, but excluding any debt securities convertible into such equity. 

“Capitalized Lease Obligation” means an obligation under a lease that is required to be capitalized for financial reporting
purposes in accordance with generally accepted accounting principles, and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with such principles. 

 

 2 

 “Clearstream” means Clearstream Banking, société anonyme, and any
successor thereto. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

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

“Company” means the Person named as the “Company” in the first paragraph of this instrument, and, subject to Article
Nine, its successors and assigns. 
 “Consolidated Total Assets” means, in respect of the Guarantor, as of any date of
determination, the amount of total assets shown on the consolidated balance sheet of the Guarantor and its consolidated subsidiaries contained in the most recent annual or quarterly report filed with the Commission, or if the Guarantor is not then
subject to the Exchange Act, the most recent annual or quarterly report to shareholders and, in respect of any Subsidiary as of any date of determination, the amount of total assets of such Subsidiary and its consolidated subsidiaries from which
such consolidated balance sheet of the Guarantor and its consolidated Subsidiaries was derived; provided that if the Guarantor completed a significant acquisition subsequent to the date of such latest consolidated balance sheet and filed a current
report on Form 8-K which included audited financial statements of such acquired business and the pro forma financial information required by Article 11 of Regulation S-X promulgated under the Securities Act, the amount of total assets of the
Guarantor shall be as shown on the pro forma balance sheet of the Guarantor and its consolidated subsidiaries included in such current report on Form 8-K, rather than as shown on the historical consolidated balance sheet of the Guarantor and its
consolidated subsidiaries. 
 “Conversion Date” has the meaning specified in Section 2.12(d). 

“Conversion Event” means the cessation of use of a Foreign Currency both by the government of the country that issued such
Currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community. 

“Corporate Trust Office” means the office of the Trustee at which the corporate trust business of the Trustee shall, at any
particular time, be principally administered, which office is, at the date as of which this Indenture is dated, located at 101 Barclay Street, Floor 4 East, New York, NY 10286, Attention: International Corporate Trust. 

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

“Currency” means any currency or currencies, including, without limitation, the Euro, issued by the government of one or more
countries or by any reorganized confederation or association of such governments. 
  

 3 

 “Currency Determination Agent” means the New York Clearing House bank, if any,
from time to time selected by the Company and notified to the Trustee in writing for purposes of Section 2.12. 

“Custodian” means, with respect to the Securities of a Series issuable or issued in whole or in part in global form, the
custodian for the Depositary with respect to the Securities of such Series, and any and all successors thereto. 

“Definitive Security” means a certificated Security (excluding Global Securities) that is registered in the name of the Holder
thereof and issued in accordance with Section 2.8 or 2.9 hereof. 
 “Depositary” means, with respect to the
Securities of any Series issuable or issued in the form of one or more Global Securities, the Person designated as Depositary for such Global Securities by the Company pursuant to Section 2.3 until a successor Depositary shall have become such
pursuant to the applicable provisions of this Indenture, and thereafter “Depositary” shall mean or include each Person who is then a Depositary for such Global Securities, and if at any time there is more than one Person designated as
Depositary for Global Securities of a particular Series, “Depositary,” as used with respect to the Securities of such Series, means the Depositary with respect to the particular Global Security or Securities; provided, that if no
Depositary is named with respect to a Series of Securities issued in the form of one or more Global Securities, the Depositary shall be DTC. 

“Designated Subsidiary” means (1) the Company, (2) any other future or present Subsidiary of the Guarantor the
Consolidated Total Assets of which constitute ten percent or more of the Consolidated Total Assets of the Guarantor; and (3) any Subsidiary which is a successor, by merger or otherwise, to substantially all of the business or properties of any
Subsidiary referred to or described in the foregoing clauses (1) or (2). 
 “Dollar” means the coin or Currency
of the United States of America which as of the time of payment is legal tender for the payment of public and private debts. 

“Dollar Equivalent of the Foreign Currency” has the meaning specified in Section 2.12. 

“DTC” means The Depository Trust Company. 

“Euro” means the single currency of Participating Member States of the European Union. 

“Euroclear” means Euroclear Bank, S.A./N.V., as operator of the Euroclear System, and any successor thereto. 

“Event of Default” means any event or condition specified as such in Section 5.1. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Exchange Rate Officer’s Certificate” means a certificate setting forth (i) the applicable Market Exchange Rate or
the applicable quotation and (ii) the Dollar or Foreign Currency amounts payable on the basis of such Market Exchange Rate or quotation in respect of the principal of and interest on the applicable Series of Securities, signed by the treasurer
or any assistant treasurer of the Company, and delivered to the Trustee. 
  

 4 

 “Foreign Currency” means any Currency, including, without limitation, the Euro,
issued by the government of one or more countries other than the United States of America or by any recognized confederation or association of such governments. 

“Global Security Legend” means the legend set forth in Section 2.8(f), which is required to be placed on all Global
Securities issued under this Indenture. 
 “Global Security” means any global Security in book-entry form issued in
accordance with Article Two hereof. 
 “Government Obligations” means securities which are (i) direct obligations
of the government which issued the Currency in which the Securities of a particular Series are denominated or (ii) obligations of a Person controlled or supervised by, or acting as an agency or instrumentality of, the government which issued
the Currency in which the Securities of such Series are denominated, the payment of which obligations is unconditionally guaranteed by such government, and which, in either case, are full faith and credit obligations of such government, are
denominated in the Currency in which the Securities of such Series are denominated and which are not callable or redeemable at the option of the issuer thereof. 

“Guarantee” means the unconditional guarantee by the Guarantor of the payment of the principal of, any premium or interest on,
and any Additional Amounts with respect to the Securities and of all obligations of the Company under this Indenture, as more fully set forth in Article Thirteen. 

“Guarantor” means the Person named as the “Guarantor” in the first paragraph of this instrument, and subject to
Article Nine, its successors and assigns. 
 “Guarantor’s Board of Directors” means the board of directors of the
Guarantor or any committee of that board duly authorized to act generally or in any particular respect for the Guarantor hereunder. 

“Guarantor’s Board Resolution” means a copy of one or more resolutions, certified by the Secretary or an Assistant
Secretary of the Guarantor to have been duly adopted by the Guarantor’s Board of Directors and to be in full force and effect on the date of such certification, delivered to the Trustee. 

“Guarantor’s Officer’s Certificate” means a certificate signed by the Chairman of the Guarantor’s Board of
Directors, any Vice Chairman of the Guarantor’s Board of Directors, the 
  

 5 

 
Chief Executive Officer, any Vice President, the Chief Financial Officer, the Chief Operating Officer, the Chief Risk Officer, the Chief Accounting Officer, the Treasurer, any Assistant Treasurer
the General Counsel, the Secretary or any Assistant Secretary of the Guarantor, that complies with the requirements of Section 11.5, if and to the extent required hereby, and is delivered to the Trustee. 

“Holder,” “Holder of Securities,” “Securityholder” or other similar terms mean the Person in whose name
such Security is registered in the Security Register. 
 “Indebtedness” means, with respect to any Person,
(i) the principal of and any premium and interest on (a) indebtedness of such Person for money borrowed and (b) indebtedness evidenced by notes, debentures, bonds or other similar instruments for the payment of which such Person is
responsible or liable; (ii) all Capitalized Lease Obligations of such Person; (iii) all obligations of such Person issued or assumed as the deferred purchase price of property, all conditional sale obligations and all obligations under any
title retention agreement (but excluding trade accounts payable arising in the ordinary course of business); (iv) all obligations of such Person for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar
credit transaction (other than obligations with respect to letters of credit securing obligations (other than obligations described in (i) through (iii) above) entered into in the ordinary course of business of such Person to the extent
such letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the third Business Day following receipt by such Person of a demand for reimbursement following payment on the letter of credit);
(v) all obligations of the type referred to in clauses (i) through (iv) of other Persons and, the payment of which, such Person is responsible or liable as obligor, guarantor or otherwise; (vi) all obligations of the type
referred to in clauses (i) through (v) of other Persons secured by any Lien on any property or asset of such Person (whether or not such obligation is assumed by such Person), the amount of such obligation being deemed to be the lesser of
the value of such property or assets or the amount of the obligation so secured; and (vii) any amendments, modifications, refundings, renewals or extensions of any indebtedness or obligation described as Indebtedness in clauses (i) through
(vi) above. 
 “Indenture” means this instrument as originally executed and delivered or, if amended or
supplemented as herein provided, as so amended or supplemented or both, and shall include the forms and terms of particular Series of Securities established as contemplated hereunder. 

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

“interest,” when used with respect to non-interest bearing Securities, means interest payable at Maturity and, when used with
respect to a Security which provides for the payment of Additional Amounts pursuant to Section 3.4 or otherwise, includes such Additional Amounts. 

“Interest Payment Date” with respect to any Security, means the Stated Maturity of an installment of interest on such Security.

 “Letter of Representations” has the meaning specified in Section 2.1(c)(vi). 

“Lien” has the meaning specified in Section 3.5. 

 

 6 

 “Market Exchange Rate” has the meaning specified in Section 2.12(g).

 “Maturity” with respect to any Security, means the date on which the principal of such Security or an installment
of principal becomes due and payable as provided in or pursuant to this Indenture, whether at the Stated Maturity or by declaration of acceleration, notice of redemption or repurchase, notice of option to elect repayment or otherwise, and includes
the Redemption Date. 
 “Officer” means the President, the Chief Financial Officer, any Vice President, the Treasurer,
any Assistant Treasurer, the Secretary or any Assistant Secretary of the Company or of the Guarantor. 
 “Officers’
Certificate” means a certificate signed by the President, the Chief Financial Officer, any Vice President, the Treasurer, any Assistant Treasurer, the Secretary or any Assistant Secretary of the Company and delivered to the Trustee. Each such
certificate shall include the statements provided for in Section 11.5, if and to the extent required hereby. 

“Opinion of Counsel” means an opinion (or opinions) in writing signed by legal counsel who may be an employee of or counsel to
the Company and who shall be satisfactory to the Trustee. Each such opinion shall include the statements provided for in Section 11.5, if and to the extent required hereby. 

“Original Issue Discount Security” means any Security which provides for an amount less than the stated principal amount
thereof to be due and payable upon declaration of acceleration of the Maturity thereof pursuant to Section 5.1. 

“Outstanding” when used with reference to Securities, shall, subject to the provisions of Sections 7.4 and 11.11, mean, as of
any particular time, all Securities authenticated and delivered by the Trustee under this Indenture, except 
 (a) Securities
theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 
 (b) Securities, or portions thereof, for
the payment or redemption of which moneys in the necessary amount and in the specified Currency shall have been deposited in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside, segregated and held
in trust by the Company for the Holders of such Securities (if the Company shall act as its own Paying Agent), provided that if such Securities, or portions thereof, are to be redeemed prior to the Maturity thereof, notice of such redemption shall
have been given as herein provided, or provision satisfactory to the Trustee shall have been made for giving such notice; and 

(c) Securities in substitution for which other Securities shall have been authenticated and delivered, or which shall have been paid,
pursuant to the terms of Section 2.9 (except with respect to any such Security as to which proof satisfactory to the Trustee and the Company is presented that such Security is held by a Person in whose hands such Security is a legal, valid and
binding obligation of the Company). 
  

 7 

 “Participant” means, with respect to any Depositary, a Person who has an account
with the Depositary and, with respect to DTC, shall include Euroclear and Clearstream. 
 “Paying Agent” means any
Person (which may include the Company) authorized by the Company to pay the principal of or interest, if any, on any Security. 

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

“Place of Payment,” when used with respect to the Securities of any Series, means the place or places where the principal of
and interest, if any, on the Securities of that Series are payable as specified pursuant to Section 3.2. 
 “Preferred
Stock” means any Capital Stock with preferential right of payment of dividends or upon liquidation, dissolution or winding up. 

“principal” whenever used with reference to the Securities or any Security or any portion thereof, shall be deemed to include
“and premium, if any.” 
 “Redemption Date” with respect to any Security or portion thereof to be redeemed,
means the date fixed for such redemption by or pursuant to this Indenture or such Security. 
 “Registrar” has the
meaning specified in Section 2.8(h)(i). 
 “Responsible Officer” when used with respect to the Trustee shall mean
any officer assigned to the International Corporate Trust Department (or any successor division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration of this
Indenture, and for the purposes of Section 5.9, Section 5.11 and Section 6.1(b) shall also include any other officer of the Trustee to whom any corporate trust matter is referred because of such officer’s knowledge of and
familiarity with the particular subject. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Security” or “Securities” has the meaning stated in the first recital of this Indenture, or, as the case may be,
Securities that have been authenticated and delivered under this Indenture. 
 “Security Register” has the meaning
specified in Section 2.8(h)(i). 
 “Series” or “Series of Securities” means a series of Securities.
Subject to Section 2.3, the Securities of a Series shall be identical. 
 “Stated Maturity” with respect to any
Security or any installment of principal thereof or interest thereon or any Additional Amounts with respect thereto, means the date established by or pursuant to this Indenture or such Security as the fixed date on which the principal of such
Security or such installment of principal or interest is, or such Additional Amounts are, due and payable. 
  

 8 

 “Subsidiary” means with respect to any Person, any other Corporation, partnership
or other entity, of which at least a majority of the outstanding stock, partnership interests or other securities, as the case may be, having by the terms thereof ordinary voting power to elect a majority of the board of directors of such
Corporation, partnership or other entity (irrespective of whether or not at the time stock, partnership interests or other securities, as the case may be, of any other class or classes of such Corporation, partnership or other entity, shall have or
might have voting power by reason of the happening of any contingency) is at the time directly or indirectly owned or controlled by such Person or by one or more Subsidiaries of such Person. “Trust Indenture Act” means the Trust Indenture
Act of 1939, as amended. 
 “Trustee” means the Person identified as “Trustee” in the first paragraph hereof
and, subject to the provisions of Article Six, any successor trustee. 
 “United States of America” or “United
States” means the fifty states constituting the United States of America as of the date of this Indenture. 

“Valuation Date” has the meaning specified in Section 2.12. 

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

SECURITIES 

SECTION 2.1 Forms Generally. (a) The Securities of each Series shall be substantially in such form (not inconsistent with
this Indenture) as shall be established by or pursuant to a Board Resolution and set forth in an Officers’ Certificate 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 (the provisions of which shall be appropriate to reflect the terms of each Series of Securities, including the Currency or authorized denominations, which may be Dollars or any Foreign
Currency) and may have imprinted or otherwise reproduced thereon such legend or legends, not inconsistent with the provisions of this Indenture, as may be required to comply with any law or with any rules or regulations pursuant thereto, or with any
rules of any securities exchange or to conform to general usage, all as may be determined by the Officer executing such Securities as evidenced by such Officer’s execution of the Securities. 

The Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as
determined by the Officer executing such Securities as evidenced by such Officer’s execution of such Securities. 
 (b)
Each Global Security shall represent such aggregate principal amount of the Outstanding Securities of such Series as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of Outstanding Securities
of such Series from time to time endorsed thereon and that the aggregate principal amount of Outstanding Securities of such Series represented thereby may from time to time be reduced or increased, as appropriate,

  

 9 

 
to reflect exchanges and redemptions and transfers of interests therein. Any endorsement of a Global Security to reflect the amount of any increase or decrease in the aggregate principal amount
of Outstanding Securities represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in connection with any transfer of a beneficial interest therein pursuant to Section 2.8 hereof. 

(c) Book-Entry Procedures. 

(i) This Section 2.1(c) shall apply only to Global Securities. Participants and Indirect Participants shall have no
rights under this Indenture or any Global Security with respect to any Global Security held on their behalf by the Depositary or by the Custodian for the Depositary, and the Depositary (or its nominee) shall be treated by the Company, the Trustee,
each Agent and any agent of the Company, the Trustee or any Agent as the absolute owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee, any Agent or any agent
of the Company, the Trustee or any Agent from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Participants or Indirect Participants, the Applicable
Procedures or the operation of customary practices of the Depositary governing the exercise of the rights of a holder of a beneficial interest in any Global Security. 

(ii) All of the Global Securities shall be registered in the Security Register in the name of the Depositary or its
nominee; provided that if the Depositary shall request that the Securities of such Series be registered in the name of a different nominee, the Trustee shall exchange all or any portion of the Securities of such Series for an equal aggregate
principal amount of Securities of such Series registered in the name of such nominee or nominees of the Depositary. No Person other than the Depositary or its nominee shall be entitled to receive from the Company or the Trustee either a Security or
any other evidence of ownership of the Securities of such Series, or any right to receive any payment in respect thereof, unless the Depositary or its nominee shall transfer record ownership of all or any portion of the Securities of such Series on
the Security Register in connection with discontinuing the book-entry system as provided in Section 2.1(e) below or otherwise in accordance with the Global Security Legend. 

(iii) So long as any Securities of such Series are registered in the name of the Depositary or any nominee thereof, all
payments of the principal or redemption price of or interest on such Securities shall be made to the Depositary or its nominee on the dates provided for such payments under this Indenture and the Securities of such Series. Each such payment to the
Depositary or its nominee shall be valid and effective to fully discharge all liability of the Company with respect to the principal or redemption price of or interest on the Securities of such Series to the extent of the sum or sums so paid. In the
event of the redemption of less than all of the Securities of any Series Outstanding, the Trustee shall not require surrender by the Depositary or its nominee of the Securities of such Series so redeemed, but the Depositary (or its nominee) may
retain such Securities and make an appropriate notation on the Security certificate as to the amount of such partial redemption; provided that the Depositary shall deliver to the Trustee, upon request, a written confirmation of such partial
redemption and thereafter the records maintained by the Trustee shall be conclusive as to the principal amount of the Securities of such Series which have been redeemed. 
  

 10 

 (iv) The Company and the Trustee may treat the Depositary (or its nominee)
as the sole and exclusive Holder of the Securities of any Series registered in its name for the purposes of payment of the principal or redemption price of or interest on the Securities of such Series, selecting the Securities of such Series or
portions thereof to be redeemed, giving any notice permitted or required to be given to Holders under this Indenture, registering the transfer of Securities of such Series, obtaining any consent or other action to be taken by Holders and for all
other purposes whatsoever; and neither the Company, the Trustee, nor any Agent shall be affected by any notice to the contrary. Neither the Company, the Trustee nor any Agent shall have any responsibility or obligation to any Participant or Indirect
Participant, any Person claiming a beneficial ownership interest in the Securities of such Series under or through the Depositary or any Participant or Indirect Participant, or any other Person which is not shown on the Security Register as being a
Holder, with respect to (1) the Securities of such Series, (2) the accuracy of any records maintained by the Depositary or any Participant or Indirect Participant, (3) the payment by the Depositary or any Participant or Indirect
Participant of any amount in respect of the principal or redemption price of or interest on the Securities of such Series, (4) any notice which is permitted or required to be given to Holders under this Indenture, (5) the selection by the
Depositary or any Participant or Indirect Participant of any Person to receive payment in the event of a partial redemption of the Securities of a Series, and (6) any consent given or other action taken by the Depositary as Holder. 

(v) So long as the Securities of any Series or any portion thereof are registered in the name of the Depositary or any
nominee thereof, all notices required or permitted to be given to the Holders of such Securities under this Indenture shall be given to the Depositary. 

(vi) So long as the Securities of any Series or any portion thereof are to be registered in the name of the Depositary or
any nominee thereof, at or prior to settlement for the Securities of any Series subject to this Section 2.1(c), the Company and the Trustee (if required by the Depositary) shall execute, or signify their approval of, a letter of representations
or such other writing requested by the Depositary (the “Letter of Representations”) applicable to the Securities of such Series. Any successor Trustee shall, in its written acceptance of its duties under this Indenture, agree to take any
actions necessary from time to time to comply with the requirements of the Letter of Representations. 
 (d) The provisions of
the “Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream” and “Customer Handbook” of Clearstream, or any
successor publications, shall be applicable to transfers of beneficial interests in Global Securities that are held by Euroclear or Clearstream as Depositary or as Participants in DTC. 

(e) The Company shall exchange Global Securities of any Series for Definitive Securities of such Series if (i) at any time the
Depositary notifies the Company that it is 
  

 11 

 
unwilling or unable to continue to act as Depositary for the Global Securities of such Series or if at any time the Depositary shall no longer be eligible to act as such because it ceases to be a
clearing agency registered under the Exchange Act, and, in either case, the Company shall not have appointed a successor Depositary within 90 days after the Company receives such notice or becomes aware of such ineligibility; (ii) the Company,
at its option, determines that the Global Securities shall be exchanged for Definitive Securities and delivers a written notice to such effect to the Trustee; or (iii) upon written request of the Depositary if an Event of Default shall have
occurred and be continuing. 
 Upon the occurrence of any of the events set forth in clauses (i), (ii) or (iii) of
Section 2.1(e) above, the Company shall execute, and, upon receipt of an order in accordance with Section 2.4 hereof, the Trustee shall authenticate and deliver, Definitive Securities of such Series, in authorized denominations, in an
aggregate principal amount equal to the principal amount of the Global Securities of such Series in exchange for such Global Securities. 

Upon the exchange of a Global Security of a Series for Definitive Securities of such Series, such Global Securities shall be cancelled by
the Trustee. Definitive Securities of a Series issued in exchange for a Global Security of such Series pursuant to this Section 2.1 shall be registered in such names and in such authorized denominations as the Depositary, pursuant to
instructions from its Participants or its Applicable Procedures, shall instruct the Trustee in writing. The Trustee shall deliver such Definitive Securities to or as directed in writing by the Persons in whose names such Definitive Securities are so
registered or to the Depositary. 
 SECTION 2.2 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 herein and referred to in the within-mentioned Indenture. 
  

			
	                           
                                     ,
	as Trustee
		
	By	 	  

	Authorized Signatory
		
	or	 	
	
	                           
                                     ,
	as Authenticating Agent
		
	By	 	  

	Authorized Signatory

			
		
	Dated:	 	  

			
	
	  

 

 12 

 SECTION 2.3 Amount Unlimited; Issuable in Series. (a) The aggregate principal
amount of Securities which may be authenticated and delivered under this Indenture is unlimited. 
 (b) The Securities may be
issued in one or more Series and each such Series shall rank equally and pari passu with all other unsubordinated debt of the Company. There shall be established in or pursuant to a Board Resolution and set forth in an Officers’
Certificate, 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 title shall distinguish the Securities of the Series from all other
Securities issued by the Company); 
 (2) any limit upon the aggregate principal amount of the Securities of the
Series that 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 Sections 2.8, 2.9,
2.11 or 12.3); 
 (3) if other than 100% of their principal amount, the percentage of their principal amount at
which the Securities of the Series will be offered; 
 (4) the date or dates on which the principal of the
Securities of the Series is payable; 
 (5) the rate or rates, which may be fixed or variable, at which the
Securities of the Series shall bear interest, if any, the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable and the record dates for the determination of Holders to whom interest
and principal is payable; 
 (6) the Place or Places of Payment where the principal and interest on Securities of
the Series shall be payable (if other than as provided in Section 3.2); 
 (7) the price or prices at which,
the period or periods within 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 Company, pursuant to any sinking fund or otherwise; 

(8) if Original Issue Discount Securities, the portion of the principal amount of Securities of the Series which shall be
payable upon declaration of acceleration of the Maturity pursuant to Section 5.1 or provable in bankruptcy pursuant to Section 5.2; 

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

 13 

 (10) if other than minimum authorized denominations of $2,000 and any
integral multiple of $1,000 in excess thereof, or, if other than in Dollars, units of 2,000 in the applicable Foreign Currency and units of 1,000 in excess thereof, the authorized denominations in which Securities of the Series shall be issuable;

 (11) the form of the Securities, including such legends as required by this Indenture, by law or as the
Company deems necessary or appropriate; 
 (12) whether the Securities of such Series shall be issuable or issued
in the form of one or more Global Securities and, if so, whether on what terms the Global Securities shall be exchangeable for Definitive Securities of such Series (if other than as provided in Section 2.1(e)) and the name of the Depositary for
such Global Security (if other than DTC); 
 (13) the Currency or Currencies in which payments of interest or
principal and other amounts are payable with respect to the Securities of the Series are to be denominated, payable, redeemable or repurchasable, as the case may be; 

(14) whether, and under what circumstances, the Securities of any Series shall be convertible into Securities of any other
Series; 
 (15) if other than the Trustee, any trustees or Agents with respect to the Securities of such Series;

 (16) if the Securities of such Series do not bear interest, the applicable dates for purposes of
Section 4.1 hereof; 
 (17) any deletions from, modifications of or additions to the Events of Default or
covenants of the Company or the Guarantor with respect to Securities of the Series, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth herein; 

(18) whether, under what circumstances and the Currency in which, the Guarantor or any successor to the Guarantor or the
Company will pay Additional Amounts as contemplated by Section 3.4 on the Securities of the Series in respect of any tax, assessment or governmental charge and, if so, whether the Company will have the option to redeem such Securities in the
event such Additional Amounts (and the terms of any such option); and 
 (19) any other terms or conditions upon
which the Securities of the Series are to be issued (which terms shall not be inconsistent with the provisions of this Indenture). 

SECTION 2.4 Authentication and Delivery of Securities. At any time and from time to time after the execution and delivery of this
Indenture, the Company may deliver Securities of any Series executed by the Company to the Trustee for authentication, together with an Officers’ Certificate for the authentication and delivery of such Securities, and the Trustee shall
thereupon authenticate and deliver such Securities in accordance with such Officers’ Certificate. 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 shall be fully protected in relying upon: 
 (1) a copy of any Board
Resolution(s) authorizing the action taken pursuant to clause (2) or (3) below; 
  

 14 

 (2) if the form and terms of such Securities have been established by or
pursuant to a supplement to this Indenture, an executed supplemental indenture, if any setting forth the form and terms of the Securities of such Series as required pursuant to Sections 2.1 and 2.3, respectively, and prepared in accordance with
Section 8.1; 
 (3) if the form and terms of such Securities have been established by or pursuant to a Board
Resolution but not a supplement to this Indenture, an Officers’ Certificate setting forth the form and terms of the Securities of such Series as required pursuant to Sections 2.1 and 2.3, respectively, and prepared in accordance with
Section 11.5; 
 (4) if the form and terms of such Securities have been established by or pursuant to a
supplement to this Indenture, an Officers’ Certificate prepared in accordance with Section 8.4 and Section 11.5; 

(5) an Opinion of Counsel, prepared in accordance with Section 11.5 (and Section 8.4, to the extent applicable),
to the effect that: 
 (a) the form or forms of such Securities have been established by or pursuant to a Board
Resolution or by a supplemental indenture as permitted by Section 2.1 in conformity with the provisions of this Indenture; 

(b) to the extent applicable, the terms of such Securities have been established by or pursuant to a Board Resolution and
set forth in an Officers’ Certificate as permitted by Section 2.3 in conformity with the provisions of this Indenture; 

(c) such Securities have been duly authorized by the Company, and, when authenticated and delivered by the Trustee and
issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid and binding obligations of the Company enforceable in accordance with their terms (subject, as to enforceability, to
applicable bankruptcy, reorganization, insolvency, conservatorship, moratorium, receivership or other laws affecting creditors’ rights generally from time to time in effect and to general principles of equity); 

(d) the registration statement, if any, relating to the Securities of such Series and any amendments thereto has become
effective under the Securities Act and to the knowledge of such counsel, no stop order suspending the effectiveness of such registration statement has been issued and no proceedings for that purpose have been instituted or threatened by the U.S.
Securities and Exchange Commission; 
  

 15 

 (e) all conditions precedent provided for in this Indenture to the
authentication and delivery of the Securities of such Series by the Trustee have been complied with; and 
 (f)
this Indenture has been qualified under the Trust Indenture Act or that it is not necessary to qualify the Indenture under the Trust Indenture Act. 

If all the Securities of any Series are not to be issued at one time, it shall not be necessary to deliver an Opinion of Counsel and an
Officers’ Certificate at the time of issuance of each Security, but such opinion and certificate, with appropriate modifications, shall be delivered at or before the time of issuance of the first Security of such Series. After any such first
delivery, an Officers’ Certificate directing the Trustee authenticate and deliver Securities of such Series for original issue will be deemed to be a certification by the Company that all conditions precedent provided for in this Indenture
relating to authentication and delivery of such Securities continue to have been complied with. 
 The Trustee shall have the
right to decline to authenticate and deliver any Securities under this Section if the Trustee, being advised by counsel, determines that such action may not lawfully be taken by the Company or if the issue of such Securities pursuant to this
Indenture will affect the Trustee’s own rights, duties, immunities or indemnities under this Indenture in a manner not acceptable to the Trustee. 

Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the
Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 2.10, together with an Officers’ Certificate (which need not comply with Section 11.5 and need not be accompanied by an
Opinion of Counsel) stating that such Security has never been issued and sold by the Company, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to
the benefits of this Indenture. 
 The Trustee may appoint one or more authenticating agents reasonably acceptable to the
Company to authenticate the Securities. Any such appointment shall be evidenced by an instrument signed by a Responsible Officer, a copy of which shall be furnished to the Company. Unless limited by the terms of such appointment, an authenticating
agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such authenticating agent. An authenticating agent has the same rights under this
Indenture as any Agent. 
 SECTION 2.5 Execution of Securities. The Securities shall be signed on behalf of the Company
by one Officer of the Company. Such signature may be the manual or facsimile signature of the present or any future such Officers. Typographical and other minor errors or defects in any such reproduction of any such signature shall not affect the
validity or enforceability of any Security that has been duly authenticated and delivered by the Trustee. 
  

 16 

 In case any Officer of the Company who shall have signed any of the Securities (or any
Officer of the Guarantor if there shall be required by the form of such Series of Securities a separate notation of the Guarantee) shall cease to be such Officer before the Security so signed shall be authenticated (in the case of the Securities)
and delivered by the Trustee or disposed of by the Company or the Guarantor, as the case may be, such Security nevertheless may be authenticated and delivered or disposed of as though the Person who signed such Security had not ceased to be such
Officer of the Company or the Guarantor, as the case may be; and any Security may be signed on behalf of the Company by such Persons as, at the actual date of the execution of such Security (or Guarantee, as applicable), shall be an Officer of the
Company or the Guarantor, as applicable, although at the date of the execution and delivery of this Indenture any such Person was not such an Officer. 

SECTION 2.6 Certificate of Authentication. Only such Securities as shall bear thereon a certificate of authentication
substantially in the form hereinbefore recited, executed by the Trustee by the manual signature of one of its authorized signatories (or executed by an authorized officer of the authenticating agent as provided in Section 2.1 and
Section 2.4), shall be entitled to the benefits of this Indenture or be valid or obligatory for any purpose. Such certificate by the Trustee upon any Security executed by the Company shall be conclusive evidence that the Security so
authenticated has been duly authenticated and delivered hereunder and that the Holder is entitled to the benefits of this Indenture. 

SECTION 2.7 Denomination and Date of Securities; Payments of Interest. The Securities shall be issuable in denominations as shall
be specified or as contemplated by Section 2.3(b)(10). Interest shall be computed, except as may be otherwise provided in the Board Resolution and Officers’ Certificate or supplemental indenture establishing the relevant Series, on the
basis of a 360-day year of twelve 30-day months. The Securities shall be numbered, lettered, or otherwise distinguished in such manner or in accordance with such plan as the Officers of the Company and the Guarantor executing the same may determine
as evidenced by the execution thereof. 
 Each Security shall be dated the date of its authentication. Interest on each Security
shall accrue from and be payable on the dates and at the rates per annum and on such other terms, in each case, which shall be specified as contemplated by Section 2.3. 

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 the payment of such interest. 

The term “record date” as used with respect to any Interest Payment Date (except for a date for payment of defaulted interest)
shall mean the date specified as such in the terms of the Securities of any particular Series, or, if no such date is so specified, if such Interest Payment Date is the first day of a calendar month, the close of business on the fifteenth day of the
next preceding calendar month or, if such Interest Payment Date is the fifteenth day of a calendar month, the close of business on the first day of such calendar month, whether or not such record date is a Business Day. 

 

 17 

 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 (called “defaulted interest” for the purpose of this Section) shall forthwith cease to be payable to the Holder on the relevant record date by virtue of his having been such Holder; and such
defaulted interest may be paid by the Company or the Guarantor, as the case may be, at its election in each case, as provided in clause (1) or clause (2) below: 

(1) The Company or the Guarantor, as the case may be, may elect to make payment of any defaulted interest to the Persons
in whose names any such Securities (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. At least
thirty (30) days prior to the date of any proposed payment, the Company or the Guarantor, as the case may be, 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 Company or the Guarantor, as the case may be, 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 subsection
provided. Thereupon the Trustee shall fix a special record date for the payment of such defaulted interest in respect of Securities of such Series which shall be not more than 15 nor less than 10 days prior to the date of the proposed payment and
not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company and the Guarantor of such special record date and, in the name and at the expense of the Company or the
Guarantor, shall cause notice of the proposed payment of such defaulted interest and the special record date thereof to be mailed, first-class postage prepaid, to each Holder 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 mailed as aforesaid, such defaulted interest in respect of Securities of such Series shall be paid to
the Person in whose names such Securities (or their respective predecessor Securities) are registered on such special record date and such defaulted interest shall no longer be payable pursuant to the following clause (2). 

(2) The Company or the Guarantor, as the case may be, 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 the Securities of that Series may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company
or the Guarantor, as the case may be, to the Trustee of the proposed payment pursuant to this clause (2), such payment shall be deemed practicable by the Trustee. 

 

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

SECTION 2.8 Registration, Transfer and Exchange. 

(a) Transfer And Exchange of Global Securities. A Global Security may not be transferred as a whole except by the Depositary to a
nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. Upon the occurrence of
any of the events set forth in Section 2.1(e) above, Definitive Securities shall be issued in such names as the Depositary shall instruct the Trustee in writing. Global Securities also may be exchanged or replaced, in whole or in part, as
provided in Sections 2.9 and 2.11 hereof. Except as provided above, every Security authenticated and delivered in exchange for, or in lieu of, a Global Security or any portion thereof, pursuant to this Section 2.8 or 2.11 hereof, shall be
authenticated and delivered in the form of, and shall be, a Global Security. Unless otherwise specified with respect to any Securities pursuant to Section 2.3, a Global Security may not be exchanged for another Security other than as provided
in Section 2.1(e) or this Section 2.8(a), and beneficial interests in a Global Security may not be transferred and exchanged other than as provided in Section 2.8(b) or (c) hereof. 

(b) Transfer and Exchange of Beneficial Interests in the Global Securities. The transfer and exchange of beneficial interests in
the Global Securities shall be effected through the Depositary, in accordance with the provisions of this Indenture, the Securities and the Applicable Procedures. 

(i) Transfer of Beneficial Interests in the Same Global Security. Beneficial interests in any Global Security may be
transferred to Persons who take delivery thereof in the form of a beneficial interest in a Global Security. Except as may be required by any Applicable Procedures, no written orders or instructions shall be required to be delivered to the Registrar
to effect the transfers described in this Section 2.8(b)(i). 
 (ii) All Other Transfers and Exchanges of
Beneficial Interests in Global Securities. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.8(b)(i) above, the transferor of such beneficial interest must deliver to the Registrar
(A) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Security
in an amount equal to the beneficial interest to be transferred or exchanged and (B) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase.
Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Securities contained in this Indenture and the Securities, the Trustee shall adjust the principal amount of the relevant Global Security(ies)
pursuant to Section 2.8(h) hereof. 
  

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 (c) Transfer and Exchange of Beneficial Interests in Global Securities for Definitive
Securities. Subject to Section 2.8(a) hereof, if any holder of a beneficial interest in a Global Security proposes to exchange such beneficial interest for a Definitive Security or to transfer such beneficial interest to a Person who takes
delivery thereof in the form of a Definitive Security, then, upon satisfaction of the applicable conditions set forth in Section 2.8(b)(ii) hereof, the Trustee shall reduce or cause to be reduced in a corresponding amount pursuant to
Section 2.8(h) hereof, the aggregate principal amount of the applicable Global Security, and the Company shall execute, and, upon receipt of an Officers’ Certificate in accordance with Section 2.4 hereof, the Trustee shall
authenticate and deliver a Definitive Security in the appropriate principal amount to the Person identified in written instructions delivered to the Registrar by the Depositary. Any Definitive Security issued in exchange for a beneficial interest
pursuant to this Section 2.8(c) shall be registered in such name or names and in such authorized denomination or denominations as the Depositary shall designate in such instructions. The Trustee shall deliver such Definitive Securities to the
Persons in whose names such Securities are so registered. 
 (d) Transfer and Exchange of Definitive Securities for
Beneficial Interests in the Global Securities. 
 (i) Transfer or Exchange of Definitive Securities to
Beneficial Interests in Global Securities. A Holder of a Definitive Security may exchange such Definitive Security for a beneficial interest in a Global Security or transfer such Definitive Security to a Person who takes delivery thereof in the
form of a beneficial interest in a Global Security at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Definitive Security and increase or cause to be increased in a corresponding amount
pursuant to Section 2.8(h) hereof the aggregate principal amount of one of the Global Securities. 
 (ii)
Issuance of Global Securities. If any such exchange or transfer of a Definitive Security for a beneficial interest in a Global Security is effected pursuant to clause (i) above at a time when a Global Security has not yet been issued,
the Company shall issue and, upon receipt of an order in accordance with Section 2.4 hereof, the Trustee shall authenticate one or more Global Securities in an aggregate principal amount equal to the principal amount of Definitive Securities so
transferred. 
 (e) Transfer and Exchange of Definitive Securities for Definitive Securities. A Holder of Definitive
Securities may transfer such Definitive Securities to a Person who takes delivery thereof in the form of a Definitive Security. Upon request by a Holder of Definitive Securities and such Holder’s compliance with the provisions of this
Section 2.8(e), the Registrar shall register the transfer or exchange of Definitive Securities. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Securities duly
endorsed or accompanied by a written instruction of transfer in form satisfactory to the Company and the Registrar duly executed by such Holder. In addition, the requesting Holder shall provide any additional certifications, documents and
information, as applicable, as may be reasonably required by the Company to the effect that such transfer or exchange complies with applicable securities laws. Upon receipt of a request to register such a transfer, the Registrar shall register the
exchange of Definitive Securities in accordance with the instructions from the Holder thereof. 
  

 20 

 (f) Global Security Legend. The following legend shall appear on the face of all
Global Securities issued under this Indenture unless specifically stated otherwise with respect to any Securities pursuant to Section 2.3. 

“THIS GLOBAL SECURITY IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY) OR ITS NOMINEE IN CUSTODY FOR
THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.8 OF THE INDENTURE, (II) THIS GLOBAL
SECURITY MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.8(a) OF THE INDENTURE, (III) THIS GLOBAL SECURITY MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.10 OF THE INDENTURE AND (IV) THIS GLOBAL SECURITY MAY
BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN
WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, 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 THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 
 (g) Cancellation and/or Adjustment of Global Securities. At
such time as all beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or cancelled in whole and not in part, each such Global Security shall
be returned to or retained and cancelled by the Trustee in accordance with Section 2.10 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take
delivery thereof in the form of a beneficial interest in another Global Security or for Definitive Securities, the aggregate principal amount of Securities represented by such Global Security shall be

  

 21 

 
reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such reduction; and if the beneficial
interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, the aggregate principal amount of such other Global Security shall be increased accordingly
and an endorsement shall be made on such Global Security by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 

(h) General Provisions Relating to Transfers and Exchanges. 

(i) With respect to the Securities of each Series, the Company shall cause to be kept a register (each such register being
herein sometimes referred to as the “Security Register”) at an office or agency for such Series in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of the Securities of such
Series and of transfers of the Securities of such Series. Such office or agency shall be the “Registrar” for that Series of Securities. Unless otherwise specified in or pursuant to this Indenture or the Securities, the Trustee shall be the
initial Registrar for each Series of Securities. The Company shall have the right to remove and replace from time to time the Registrar for any Series of Securities; provided that no such removal or replacement shall be effective until a
successor Registrar with respect to such Series of Securities shall have been appointed by the Company and shall have accepted such appointment by the Company. In the event that the Trustee shall not be or shall cease to be Registrar with respect to
a Series of Securities, it shall have the right to examine the Security Register for such Series at all reasonable times. There shall be only one Security Register for each Series of Securities. 

(ii) Upon surrender for registration of transfer of any Definitive Security of any Series at any office or agency for such
Series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Definitive Securities of the same Series denominated as authorized in or pursuant to this
Indenture, of a like aggregate principal amount bearing a number not contemporaneously outstanding and containing identical terms and provisions. 

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

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

 22 

 (v) No service charge shall be made to a holder of a beneficial interest in
a Global Security or to a Holder of a Definitive Security for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith
(other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.11, 8.5 and 12.3 hereof). 

(vi) All Global Securities and Definitive Securities issued upon any registration of transfer or exchange of Global
Securities or Definitive Securities shall be the valid obligations of the Company and the Guarantor, evidencing the same debt as the Global Securities or Definitive Securities surrendered upon such registration of transfer or exchange and shall be
entitled to all of the benefits of this Indenture equally and proportionately with all other Securities duly issued hereunder. 

(vii) Neither the Registrar nor the Company shall be required (A) to issue, to register the transfer of or to
exchange any Securities during a period beginning at the opening of business 15 days before the day of any selection of Securities for redemption under Article Twelve hereof and ending at the close of business on the date of selection, (B) to
register the transfer of or to exchange any Security so selected for redemption in whole or in part, except the unredeemed portion of any Security being redeemed in part or (C) to register the transfer of or to exchange a Security between a
record date (including a regular record date) and the next succeeding Interest Payment Date. 
 (viii) Prior to
due presentment for the registration of transfer of any Security, the Trustee, the Company and each Agent may deem and treat the Person in whose name any Security is registered as the absolute owner of such Security for the purpose of receiving
payment of principal of, and interest on such Security and for all other purposes, in each case regardless of any notice to the contrary. 

(ix) Neither the Trustee nor any Agent shall have any obligation or duty to monitor, determine or inquire as to
compliance with any restriction on transfer or exchange imposed under this Indenture, any Security or under applicable law (including transfers between or among beneficial owners of interests in any Global Security) other than to require delivery of
such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture or any Security, and to examine the same to determine substantial compliance as to form
with the express requirements hereof. 
 (x) In connection with the transfer or exchange of any beneficial
interest in a Global Security or any interest in a Definitive Security, in the event the Company reasonably believes that such transfer or exchange may violate any applicable securities laws, the Company may request from the transferee or transferor
of such beneficial interest or Definitive Security as a condition to such transfer or exchange any additional certifications, documents and information, as applicable, as may be reasonably required by the Company. 

 

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 SECTION 2.9 Mutilated, Defaced, Destroyed, Lost and Stolen Securities. In case any
temporary or definitive Security shall become mutilated, defaced or be destroyed, lost or stolen, the Company in its discretion may execute, and upon delivery of an Officers’ Certificate, the Trustee shall authenticate and deliver, a new
Security of the same Series, bearing a number not contemporaneously outstanding, in exchange and substitution for the mutilated or defaced Security, or in lieu of and substitution for the Security so destroyed, lost or stolen. In every case the
applicant for a substitute Security shall furnish to the Company, the Guarantor, the Trustee, any Agent and to any agent of the Company, the Guarantor, the Trustee or such Agent such security or indemnity as may be required by them to indemnify and
defend and to save each of them harmless and, in every case of destruction, loss or theft, evidence to their satisfaction of the destruction, loss or theft of such Security and of the ownership thereof. 

Upon the issuance of any substitute Security, the Company may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. In case any Security which has matured or is about to mature or has been called for redemption
in full shall become mutilated or defaced or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same (without surrender thereof except in the case of a mutilated or defaced
Security) if the applicant for such payment shall furnish to the Company, the Guarantor and the Trustee and any agent of the Company, the Guarantor or the Trustee such security or indemnity as any of them may require to save each of them harmless,
and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company, the Guarantor, the Trustee and each Agent and any agent of the Company, the Guarantor, the Trustee or such Agent evidence to their satisfaction of the
destruction, loss or theft of such Security and of the ownership thereof. 
 Every substitute Security of any Series issued
pursuant to the provisions of this Section by virtue of the fact that any such Security is destroyed, lost or stolen shall constitute an additional contractual obligation of the Company and the Guarantor, 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 (but shall be subject to all the limitations of rights set forth in) this Indenture equally and proportionately with any and all other Securities of
such Series duly authenticated and delivered hereunder. All Securities shall be held and owned upon the express condition that, to the extent permitted by the law, the foregoing provisions are exclusive with respect to the replacement or payment of
mutilated, defaced, destroyed, lost or stolen Securities and shall preclude any and all other rights or remedies notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of
negotiable instruments or other securities without their surrender. 
 SECTION 2.10 Cancellation of Securities. All
Securities surrendered for payment, redemption, registration of transfer or exchange, or for credit against any payment in respect of a sinking or analogous fund, shall, if surrendered to the Company, the Guarantor, any Agent or any agent of the
Company, the Guarantor, the Trustee or such Agent, be delivered to the Trustee for cancellation or, if surrendered to the Trustee, shall be cancelled by it; and no Securities shall be issued in lieu thereof, except as expressly permitted by any of
the provisions of this Indenture. The Trustee shall dispose of cancelled Securities in accordance with its customary procedures. If the Company shall acquire any of the Securities, such acquisition shall not operate as a redemption or satisfaction
of the Indebtedness represented by such Securities unless and until the same are delivered to the Trustee for cancellation. 
  

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 SECTION 2.11 Temporary Securities. Pending the preparation of definitive Securities
for any Series, the Company may execute and the Trustee shall authenticate and deliver temporary Securities for such Series (printed, lithographed, typewritten or otherwise reproduced, in each case in form satisfactory to the Trustee). Temporary
Securities of any Series may be issued in any authorized denomination, and substantially in the form of the definitive Securities of such Series but with such omissions, insertions and variations as may be appropriate for temporary Securities, all
as may be determined by the Company with the concurrence of the Trustee. Temporary Securities may contain such reference to any provisions of this Indenture as may be appropriate. Every temporary Security shall be executed by the Company and be
authenticated by the Trustee upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities. Without unreasonable delay the Company shall execute and shall furnish definitive Securities of such
Series and thereupon temporary Securities of such Series may be surrendered in exchange therefor without charge at each office or agency to be maintained by the Company for that purpose pursuant to Section 3.2, and the Trustee shall
authenticate and deliver in exchange for such temporary Securities of such Series a like aggregate principal amount of definitive Securities of the same Series of authorized denominations. Until so exchanged, the temporary Securities of any Series
shall be entitled to the same benefits under this Indenture as definitive Securities of such Series. 
 SECTION 2.12 Currency
and Manner of Payments in Respect of Securities. 
 (a) With respect to Securities of any Series with respect to which the
Holders of such Securities have not made the election provided for in Section 2.12(b) below, the following payment provisions shall apply: 

(1) Except as provided in Section 2.12(a)(2), (b), (c) or (e) below or in the Securities of any particular
Series, payment of the principal of any Security will be made at the Place of Payment by delivery of a check in the Currency in which the Security is denominated on the payment date against presentation and, with respect to the final principal
payment, surrender of such Security, and any interest on any Security will be paid at the Place of Payment by mailing a check in the Currency in which the Securities were issued to the Person entitled thereto at the address of such Person appearing
on the Security Register. 
 (2) Payment of the principal of and interest on any Global Security will be made by
wire transfer to the account of the Depositary or to such other account as directed in writing by the Depositary. 

(3) Payment of the principal of and interest on such Security may also, subject to applicable laws and regulations, be
made at such other place or places as may be designated by the Company by any appropriate method. 
  

 25 

 (b) With respect to Securities of any Series, the following payment provisions shall apply,
except as otherwise provided in paragraphs (e) and (f) below: 
 (1) The Board of Directors may provide
with respect to any Series of such Securities that Holders shall have the option to receive payments of principal of and interest on such Security in any of the Currencies which may be designated for such election in such Security by delivering to
the Trustee a written election, in the form provided for in such Security, not later than the close of business on the record date immediately preceding the applicable payment date. Such election will remain in effect for such Holder until changed
by the Holder by written notice to the Trustee (but any such change must be made not later than the close of business on the record date immediately preceding the next payment date to be effective for the payment to be made on such payment date and
no such change may be made with respect to payments to be made on any Security with respect to which notice of redemption has been given by the Company pursuant to Article Twelve). Any Holder of any such Security who shall not have delivered any
such election to the Trustee not later than the close of business on the applicable record date will be paid the amount due on the applicable payment date in the relevant Currency as provided in paragraph (a) of this Section 2.12. Payment
of the principal of any such Security will be made at the Place of Payment on the payment date against presentation and, with respect to the final principal payment, surrender of such Securities. Payment of principal and interest shall be made at
the Place of Payment by mailing a check in the applicable Currency to the Person entitled thereto at the address of such Person appearing on the Security Register. The provisions of Sections 2.12(c), (d), (e), (f), (g) and (h) are
applicable only if the Board of Directors has provided with respect to a Series that Holders should have the option to elect to receive payments of principal and interest in currencies designated in that election. 

(2) Payment of the principal of and interest on any Global Security will be made by wire transfer to the account of the
Depositary or to such other account as directed in writing by the Depositary. 
 (3) Payment of the principal of
and interest on such Security may also, subject to applicable laws and regulations, be made at such other place or places as may be designated by the Company by any appropriate method. 

(c) Not later than the fourth Business Day after the record date for each payment date, the Trustee will deliver to the Company a written
notice specifying, in the Currency in which each Series of the Securities are denominated, the respective aggregate amounts of principal of and interest on the Securities to be made on such payment date, specifying the amounts so payable in respect
of the Securities as to which the Holders shall have elected to be paid in another Currency as provided in paragraph (b) above. If the Board of Directors has provided for the election referred to in paragraph (b) above and if at least one
Holder has made such election, then not later than the second Business Day preceding such record date the Company will deliver to the Trustee an Exchange Rate Officer’s Certificate in respect of the Dollar or Foreign Currency payments to be
made on such payment date. The Dollar or Foreign Currency amount receivable by Holders of Securities who have elected payment in another Currency as provided in paragraph (b) above shall be determined by the Company on the basis of the
applicable Market Exchange Rate in effect on the second Business Day (the “Valuation Date”) prior to such payment date and set forth in the applicable Exchange Rate Officer’s Certificate. 

 

 26 

 (d) If a Conversion Event occurs with respect to a Foreign Currency in which any of the
Securities are denominated or payable, then with respect to each date for the payment of principal of and interest on the applicable Foreign Currency denominated Securities occurring after the last date on which the Foreign Currency was so used (the
“Conversion Date”), the Dollar shall be the Currency of payment for use on each such payment date. The Dollar amount to be paid by the Company to the Trustee and by the Trustee or any Paying Agent to the Holders of such Securities with
respect to such payment date shall be, in the case of a Foreign Currency, the Dollar Equivalent of the Foreign Currency as determined by the Currency Determination Agent in the manner provided in paragraph (g) or (h) below. 

(e) If the Holder of a Security elects payment in a specified Currency as provided for by paragraph (b) and a Conversion Event
occurs with respect to such elected Currency, such Holder shall receive payment in the Currency in which payment would have been made in the absence of such election; and if a Conversion Event occurs with respect to the Currency in which payment
would have been made in the absence of such election, such Holder shall receive payment in Dollars. 
 (f) The “Dollar
Equivalent of the Foreign Currency” shall be determined by the Currency Determination Agent as of each Valuation Date and shall be obtained by converting the specified Foreign Currency into Dollars at the Market Exchange Rate on the Conversion
Date. 
 (g) For purposes of this Section 2.12 the following term shall have the following meaning: 

“Market Exchange Rate” shall mean for any Currency the noon Dollar buying rate for that Currency for cable
transfers quoted in New York City on the Valuation Date as certified for customs purposes by the Federal Reserve Bank of New York. If such rates are not available for any reason with respect to one or more Currencies for which an exchange rate is
required, the Currency Determination Agent shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New York as of the most recent available date, or quotations from one or more major banks
in New York City or in the country of issue of the Currency in question, or such other quotations as the Currency Determination Agent shall deem appropriate. Unless otherwise specified by the Currency Determination Agent, if there is more than one
market for dealing in any Currency by reason of foreign exchange regulations or otherwise, the market to be used in respect of such Currency shall be that upon which a nonresident issuer of securities designated in such Currency would purchase such
Currency in order to make payments in respect of such securities. 
 (h) All decisions and determinations of the Currency
Determination Agent regarding the Dollar Equivalent of the Foreign Currency and the Market Exchange Rate as specified above shall be in its sole discretion and shall, in the absence of manifest error, be conclusive for all purposes and irrevocably
binding upon the Company, the Guarantor and the Trustee for the relevant Series of Securities and all Holders of such Securities. In the event that a Conversion Event has occurred with respect to a Foreign Currency, the Company, after learning
thereof, will immediately give written notice thereof to the Trustee (and the Trustee will promptly thereafter give notice in the manner provided in Section 11.4 to the affected Holders) specifying the

  

 27 

 
Conversion Date. The Trustee shall be fully justified and protected in relying on and acting upon the information so received by it from the Company and the Currency Determination Agent and shall
not otherwise have any duty or obligation to determine such information independently. The Trustee shall have no liability or responsibility with respect to, or obligation or duty to monitor, determine or inquire as to whether or not a Conversion
Date has occurred. 
 SECTION 2.13 CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” or
“ISIN” numbers (if then generally in use), and, if so, the Trustee shall indicate the “CUSIP” or “ISIN” numbers of the Securities in notices of redemption as a convenience to Holders; provided that any such
notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of redemption and that reliance may be placed only on the other identification numbers printed on
the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee in writing of any change in the “CUSIP” or “ISIN” numbers. 

SECTION 2.14 Securities in Global Form. If Securities of or within a Series are issuable in whole or in part in global form, any
such 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 or increased to reflect exchanges. Any endorsement of a Security in global form to reflect the amount, or any increase or decrease in the amount, or changes in the rights of Holders, of Outstanding Securities represented thereby, shall be
made in such manner and by such Person or Persons as shall be specified therein or in the Officers’ Certificate to be delivered to the Trustee pursuant to Section 2.4 or, if applicable, 2.8 or 2.11. Subject to the provisions of
Section 2.4 and, if applicable, Section 2.8 or 2.11, the Trustee shall deliver and redeliver any Security in permanent global form in the manner and upon instructions given by the Person or Persons specified therein or in the applicable
Officers’ Certificate. Any Officers’ Certificate delivered by the Company with respect to endorsement or deliver or redelivery of a Security in global form shall be in writing but need not comply with Section 11.5 and need not be
accompanied by an Opinion of Counsel. 
 The provisions of the second paragraph of Section 2.4 shall apply to any Security
in global form if such Security was never issued and sold by the Company and the Company delivers to the Trustee the Security in global form together with an Officers’ Certificate (which need not comply with Section 11.5 and need not be
accompanied by an Opinion of Counsel) with regard to the reduction in the principal amount of Securities represented thereby, together with the written statement contemplated by the last paragraph of Section 2.4. 

Notwithstanding the provisions of Section 3.1, unless otherwise specified as contemplated by Section 2.4, payment of principal
of and interest on any Security in permanent global form shall be made to the Person or Persons specified in such Security. 
  

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 ARTICLE THREE 

COVENANTS 

SECTION 3.1 Payment of Principal, any Premium, Interest and Additional Amounts. The Company covenants and agrees for the benefit
of each Series of Securities that it will duly and punctually pay or cause to be paid (in the Currency in which the Securities of such Series are payable, except as otherwise provided pursuant to Section 2.3 for the Securities of such Series
and except as provided in Section 2.12(b), (d) and (e) hereof) the principal of, any premium and interest on, if any, and any Additional Amounts, if any, with respect to, each of the Securities of such Series in accordance with the
terms of the Securities of such Series and this Indenture. 
 SECTION 3.2 Offices for Notices and Payment, etc. So long
as any of the Securities remain Outstanding, the Company and the Guarantor shall maintain the following for each Series: an office or agency in each Place of Payment (a) where the Securities may be presented or surrendered for payment,
(b) where the Securities may be presented for registration of transfer and for exchange as in this Indenture provided and (c) where notices and demands to or upon the Company or the Guarantor in respect of the Securities, the Guarantee or
of this Indenture (other than the type contemplated by Section 11.8) may be served. The Company or the Guarantor will give to the Trustee written notice of the location of any such office or agency and of any change of location thereof. In case
the Company or the Guarantor shall fail to so designate or maintain any such office or agency or shall fail to give such notice of the location or of any change in the location thereof, presentations, surrenders and demands may be made and notices
may be served at the Corporate Trust Office of the Trustee. Unless otherwise specified pursuant to Section 2.3, the Trustee is initially appointed Paying Agent and Registrar. 

The Company and the Guarantor may also from time to time designate one or more other offices or agencies where the Securities of one or
more Series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company or the
Guarantor of its obligation to maintain an office or agency in each Place of Payment for Securities of any Series for such purposes. The Company and the Guarantor shall give prompt written notice to the Trustee of any such designation or rescission
and of any change in the location of any such other office or agency. Unless otherwise provided in or pursuant to this Indenture, the Company and the Guarantor hereby designate as the Place of Payment for each Series of Securities the Borough of
Manhattan, The City of New York, and initially appoint the Corporate Trust Office of the Trustee as the office or agency of the Company in the Borough of Manhattan, The City of New York for such purpose. The Company and the Guarantor may
subsequently appoint a different office or agency in the Borough of Manhattan, The City of New York and additional Places of Payment for the Securities of any Series. 

Unless otherwise specified with respect to any Securities pursuant to Section 2.3, if and so long as the Securities of any Series
(i) are denominated in a Foreign Currency or (ii) may be payable in a Foreign Currency, or (iii) so long as it is required under any other provision of this Indenture, then the Company will maintain with respect to each such Series of
Securities, or as so required, at least one exchange rate agent. 
  

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 SECTION 3.3 Money for Securities Payments to Be Held in Trust. (a) If the
Company shall at any time act as its own Paying Agent, or if the Guarantor shall act as Paying Agent, with respect to any Series of Securities, it shall, on or before each due date of the principal of, any premium, interest on, if any, or Additional
Amounts, if any, with respect to, any of the Securities of such Series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the Currency or Currencies, Currency unit or units or composite Currency or Currencies in
which the Securities of such Series are payable (except as otherwise specified pursuant to Section 2.3 for the Securities of such Series) sufficient to pay the principal or any premium, interest or Additional Amounts so becoming due until such
sums shall be paid to such Persons or otherwise disposed of as herein provided, and shall promptly notify the Trustee in writing of its action or failure so to act. 

(b) Whenever the Company shall have one or more Paying Agents for any Series of Securities, it shall, prior to 10:00 a.m., New York City
time, on each due date of the principal of, any premium or interest on, if any, or Additional Amounts, if any, with respect to, any Securities of such Series, deposit with any Paying Agent a sum (in the Currency or Currencies, Currency unit or units
or composite Currency or Currencies described in the preceding paragraph) sufficient to pay the principal or any premium, interest or Additional Amounts so becoming due, such sum to be held in trust for the benefit of the Persons entitled thereto,
and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee in writing of its action or failure so to act. 

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

(1) hold all sums held by it for the payment of the principal of, any premium or interest on, if any, or Additional
Amounts, if any, with respect to Securities of such 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 provided in or pursuant to this Indenture; 

(2) give the Trustee notice of any default by the Company or the Guarantor (or any other obligor upon the Securities of
such Series) in the making of any payment of principal, any premium or interest on, if any, or Additional Amounts, if any, with respect to the Securities of such 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. 
 (d) The Company or the Guarantor may at any time, for the purpose of
obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by written direction of the Company or Guarantor, as applicable, direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company, the
Guarantor or such Paying Agent, such sums to be held by the Trustee in trust in accordance with this Indenture; 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 sums. 
  

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 (e) Except as otherwise provided herein or pursuant hereto, any money deposited with the
Trustee or any Paying Agent, or then held by the Company or the Guarantor, in trust for the payment of the principal of, any premium or interest on, if any, or Additional Amounts, if any, with respect to, any Security of any Series and remaining
unclaimed for two years after such principal or any such premium or interest or any such Additional Amounts shall have become due and payable shall be paid to the Company on written request of the Company (or if deposited by the Guarantor, paid to
the Guarantor on written request of the Guarantor), or (if then held by the Company or the Guarantor) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company
and the 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 Company as Trustee thereof, shall thereupon cease; provided, however, that the
Trustee or such Paying Agent, before being required to make any such repayment, may, but shall not be required to, at the expense of the Company and the Guarantor cause to be published once, in an Authorized Newspaper in each Place of Payment for
such Series or to be mailed to Holders of Securities of such Series, or both, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication or mailing nor
shall it be later than two years after such principal and any premium or interest or Additional Amounts shall have become due and payable, any unclaimed balance of such money then remaining will be repaid to the Company or the Guarantor, as the case
may be. 
 SECTION 3.4 Additional Amounts. If any taxes, assessments or other governmental charges are imposed by the
jurisdiction, other than the United States, where the Guarantor or a successor to the Company or the Guarantor (a “Payor”) is organized or otherwise considered to be a resident for tax purposes, any jurisdiction, other than the United
States, from or through which the Payor makes a payment on the Securities of any Series, or, in each case, any political organization or governmental authority thereof or therein having the power to tax (the “Relevant Tax Jurisdiction”) in
respect of any payments under the Securities of such Series, the Payor shall pay to each Holder of any such Security, to the extent it may lawfully do so, such Additional Amounts as may be necessary in order that the net amounts paid to such Holder
will be not less than the amount specified in such Security to which such Holder is entitled; provided, however, the Payor shall not be required to make any payment of Additional Amounts for or on account of: 

(a) any tax, assessment or other governmental charge which would not have been imposed but for (i) the existence of any present or
former connection between such Holder (or between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, such Holder, if such Holder is an estate, trust, partnership, limited liability company or corporation) and
the Relevant Tax Jurisdiction including, without limitation, such Holder (or such fiduciary, settlor, beneficiary, member, shareholder or possessor) being or having been a citizen or resident thereof or being or having been present or engaged in a
trade or business therein or having or having had a permanent establishment therein or (ii) the presentation of a Security (where presentation is required) for payment on a date more than 30 days after (x) the date on which such payment
became due and payable or (y) the date on which payment thereof is duly provided for, whichever occurs later; 
  

 31 

 (b) any estate, inheritance, gift, sales, transfer, personal property or similar tax,
assessment or other governmental charge; 
 (c) any tax, assessment or other governmental charge which is payable otherwise than
by withholding from payment of (or in respect of) principal of, premium, if any, or any interest on, the Securities of such Series; 

(d) any tax, assessment or other governmental charge that is imposed or withheld by reason of the failure by the Holder or the beneficial
owner of the Securities of such Series to comply with a request of the Payor addressed to the Holder to provide information, documents or other evidence concerning the nationality, residence or identity of the Holder or such beneficial owner which
is required by a statute, treaty, regulation or administrative practice of the taxing jurisdiction as a precondition to exemption from all or part of such tax, assessment or other governmental charge; or 

(e) any combination of the above; 

nor will Additional Amounts be paid with respect to any payment of the principal of, or any premium or interest on, any Securities of such Series to any
Holder who is a fiduciary or partnership or limited liability company or other than the sole beneficial owner of such payment to the extent such payment would be required by the laws of the Relevant Tax Jurisdiction to be included in the income for
tax purposes of a beneficiary or settlor with respect to such fiduciary or a member of such partnership, or limited liability company or a beneficial owner who would not have been entitled to such Additional Amounts had it been the Holder of such
Securities. 
 The Payor shall provide the Trustee with the official acknowledgment of the relevant tax authority (or, if such
acknowledgment is not available, a certified copy thereof) evidencing the payment of the withholding taxes by the Payor. Copies of such documentation shall be made available to the Holders of the Securities of such Series or the Paying Agent, as
applicable, upon written request therefor. 
 Whenever in this Indenture there is mentioned, in any context, the payment of the
principal of or any premium or interest on, or in respect of, any Security of any Series or the net proceeds received on the sale or exchange of any Security of any Series, such mention shall be deemed to include mention of the payment of Additional
Amounts provided by the terms of such Series established hereby or pursuant hereto to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to such terms, and express mention of the payment of
Additional Amounts (if applicable) in any provision hereof shall not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made. 

Except as otherwise provided in or pursuant to this Indenture or the Securities of the applicable Series, at least 10 days prior to the
first Interest Payment Date with respect to such Series of Securities (or if the Securities of such Series shall not bear interest prior to Maturity, the first day on which a payment of principal is made), and at least 10 days prior to each date of
payment of principal or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate, the Company shall furnish to the Trustee and the

  

 32 

 
Paying Agent or Paying Agents, if other than the Trustee, an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of principal of and
premium, if any, or interest on, if any, and Additional Amounts, if any, with respect to the Securities of such Series shall be made to Holders of Securities of such Series without withholding for or on account of any tax, assessment or other
governmental charge. If any such withholding shall be required, then such Officers’ Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of Securities, that the Company will pay all
such amounts required to be withheld to the relevant governmental authority and the Company agrees to pay to the Trustee or such Paying Agent the Additional Amounts required by the terms of such Securities. The Company covenants to indemnify the
Trustee and any Paying Agent for, and to hold each of them harmless against, any loss, liability or expense reasonably incurred without negligence or bad faith on their part arising out of or in connection with actions taken or omitted by any of
them in reliance on any Officers’ Certificate furnished pursuant to this Section 3.4. 
 SECTION 3.5 Limitation on
Liens on Stock of Designated Subsidiaries. So long as any Securities are Outstanding, neither the Company nor the Guarantor will, nor will it permit any of their respective Subsidiaries to, create, assume, incur, guarantee or otherwise permit to
exist any Indebtedness secured by any mortgage, pledge, lien, security interest or other encumbrance (a “Lien”) upon any shares of Capital Stock of any Designated Subsidiary (whether such shares of stock are now owned or hereafter
acquired) without effectively providing concurrently that the Securities (and, if the Company and the Guarantor so elect, any other Indebtedness of the Company that is not subordinate to the Securities and with respect to which the governing
instruments require, or pursuant to which the Company is otherwise obligated, to provide such security) shall be secured equally and ratably with such Indebtedness for at least the time period such other Indebtedness is so secured. 

SECTION 3.6 Limitation on Disposition of Stock of Designated Subsidiaries. So long as any Securities are outstanding and except in
a transaction otherwise permitted by this Indenture, neither the Company nor the Guarantor will issue, sell, assign, transfer or otherwise dispose of any shares of, securities convertible into, or warrants, rights or options to subscribe for or
purchase shares of, Capital Stock (other than Preferred Stock having no voting rights) of any Designated Subsidiary, and will not permit any Designated Subsidiary (other than to the Company or the Guarantor) to issue any shares (other than the
director’s qualifying shares and Preferred Stock having no voting rights) of, or securities convertible into, or warrants, rights or options to subscribe for or purchase shares of, Capital Stock (other than Preferred Stock having no voting
rights) of any Designated Subsidiary, if, after giving effect to any such transaction and the issuance of the maximum number of shares issuable upon the conversion or exercise of all such convertible securities, warrants, rights or options, the
Company or the Guarantor, as the case may be, would own, directly or indirectly, less than 80% of the shares of Capital Stock of such Designated Subsidiary (other than Preferred Stock having no voting rights); provided, however, that
(i) the foregoing shall not prevent any issuance, sale, assignment, transfer or other disposition by the Company or the Guarantor if the consideration is at least at fair market value as determined in good faith by the Guarantor’s Board of
Directors pursuant to a Guarantor’s Board Resolution and (ii) the foregoing shall not prohibit any such issuance or disposition of securities if required by any law or any regulation or order of any governmental or insurance regulatory
authority. Notwithstanding the foregoing, (i) the Company or the Guarantor, as the 
  

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case may be, may merge or consolidate any Designated Subsidiary into or with another direct or indirect Subsidiary of the Guarantor, the shares of capital stock of which the Guarantor owns
directly or indirectly at least 80%, and (ii) the Company or the Guarantor, as the case may be, may, subject to the provisions of Article Nine, sell, assign, transfer or otherwise dispose of the entire Capital Stock of any Designated Subsidiary
at one time for at least a fair market value consideration as determined in good faith by the Guarantor’s Board of Directors pursuant to a Guarantor’s Board Resolution. 

SECTION 3.7 Corporate Existence. Subject to Article Nine, the Company and the Guarantor shall do or cause to be done all things
necessary to preserve and keep in full force and effect their respective organizational existence and rights (constitutive and statutory) and franchises; provided, however, that the foregoing shall not obligate the Company or the Guarantor to
preserve any such right or franchise if the Company of the Guarantor shall determine that the preservation thereof is no longer desirable in the conduct of their respective business and that the loss thereof is not disadvantageous in any material
respect to the Holders. 
 SECTION 3.8 Waiver of Certain Covenants. The Company may omit in any particular instance to
comply with any term, provision or condition set forth in Section 3.5, 3.6, 3.7 or 3.11 with respect to the Securities of any Series if before the time for such compliance the Holders of at least a majority in aggregate principal amount at
Maturity of the Outstanding Securities of such Series, by act of such Holders, either shall waive such compliance in such instance or generally shall have waived compliance with such term, provision or condition, but no such waiver shall extend to
or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition
shall remain in full force and effect. 
 SECTION 3.9 Company Statement as to Compliance; Notice of Certain Defaults.

 (1) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year (which fiscal
year shall end on December 31, unless the Company otherwise notifies the Trustee in writing), a written statement (which need not be contained in or accompanied by an Officers’ Certificate) signed by an Officer that is the principal executive
officer, the principal financial officer or the principal accounting officer of the Company, stating that 
 (a)
a review of the activities of the Company during such year and of its performance under this Indenture has been made under his or her supervision, and 

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

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 (2) The Company shall deliver to the Trustee, within five days after the
occurrence thereof, written notice of any Event of Default or any event which after notice or lapse of time or both would become an Event of Default pursuant to clause (c) of Section 5.1. 

(3) The Trustee shall have no duty to monitor the Company’s compliance with the covenants contained in this Article
Three other than to require delivery of the certificate specifically set forth in this Section 3.8. 
 SECTION 3.10
Guarantor Statement as to Compliance; Notice of Certain Defaults. 
 (1) The Guarantor shall deliver to
the Trustee, within 120 days after the end of each fiscal year (which fiscal year shall end on December 31, unless the Guarantor otherwise notifies the Trustee in writing), a written statement (which need not be contained in or accompanied by a
Guarantor’s Officer’s Certificate) signed by an Officer that is the principal executive officer, the principal financial officer or the principal accounting officer of the Guarantor, stating that 

(a) a review of the activities of the Guarantor during such year and of performance under this Indenture has been made
under his or her supervision, and 
 (b) to the best of his or her knowledge, based on such review, (a) the
Guarantor has complied with conditions and covenants imposed on it under this Indenture throughout such year, or, if there has been a default in the fulfillment of any such condition or covenant, specifying each such default known to him or her and
the nature and status thereof, and (b) no event has occurred and is continuing which constitutes, or which after notice or lapse of time or both would become, an Event of Default, or, if such an event has occurred and is continuing, specifying
each such event known to him and the nature and status thereof. 
 (2) The Guarantor shall deliver to the
Trustee, within five days after the occurrence thereof, written notice of any event which after notice or lapse of time or both would become an Event of Default pursuant to clause (c) of Section 5.1. 

(3) The Trustee shall have no duty to monitor the Guarantor’s compliance with the covenants contained in this Article
Three other than to require delivery of the certificate specifically set forth in this Section 3.10. 
 SECTION 3.11
Maintenance of Properties. The Company and the Guarantor will, and will cause their respective Subsidiaries to, cause all properties used or useful in the conduct of their respective businesses, or the business of any Subsidiary of the
Company or of the Guarantor, to be maintained and kept in 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 Company or the Guarantor, as applicable, may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in
this Section shall prevent the Company or the Guarantor from discontinuing the operation or maintenance of any such properties if such discontinuance is, in the judgment of the Company or the Guarantor, as applicable, desirable in the conduct of the
business of the Company or the Guarantor, or the business of any Subsidiary of the Company or the Guarantor, and not disadvantageous in any material respect to the Holders. 

 

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 SECTION 3.12 Further Acts and Instruments. Upon request of the Trustee, the Company
and the Guarantor will execute and deliver such further instruments and perform such further acts as may be reasonably necessary or proper to carry out more effectively the purposes of this Indenture. 

SECTION 3.13 Calculation of Original Issue Discount. The Company shall file with the Trustee promptly at the end of each calendar
year (a) a written notice specifying the amount of original issue discount for U.S. federal income tax purposes (including daily rates and accrual periods), if any, accrued on Outstanding Securities as of the end of such year and (b) such
other specific information relating to such original issue discount as may then be relevant under the Code, as amended from time to time. 

ARTICLE FOUR 

SECURITYHOLDERS’ LISTS AND REPORTS BY THE 

ISSUER, GUARANTOR AND THE TRUSTEE 

SECTION 4.1 Company and Guarantor to Furnish Trustee Information as to Names and Addresses of Securityholders. The Company and the
Guarantor each covenants and agrees that they will furnish or cause to be furnished to the Trustee for the Securities of each Series a list in such form as the Trustee may reasonably require of the names and addresses of the Holders of the
Securities of each Series: 
 (a) semi-annually and not more than 15 days after each record date for the payment of interest on
such Securities, as hereinabove specified, as of such record date and on dates to be determined pursuant to Section 2.3 for non-interest bearing securities in each year, and 

(b) at such other times as the Trustee may request in writing, within 30 days after receipt by the Company or the Guarantor of any such
request such list to be as of a date not more than 15 days prior to the time such information is furnished, provided, that if and so long as the Trustee shall be the Registrar for such Series, such list shall not be required to be furnished.

  

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 SECTION 4.2 Preservation and Disclosure of Securityholders’ Lists. (a) The
Trustee for the Securities of each Series shall preserve, in as current a form as is reasonably practicable, all information as to the names and addresses of the Holders of each Series of Securities contained in the most recent list furnished to it
as provided in Section 4.1 or maintained by the Trustee in its capacity as Registrar for such Series, if so acting. The Trustee may destroy any list furnished to it as provided in Section 4.1 upon receipt of a new list so furnished.

 (b) In case three or more Holders of Securities of any Series (hereinafter referred to as “applicants”) apply in
writing to the Trustee and furnish to the Trustee reasonable proof that each such applicant has owned a Security for a period of at least six months preceding the date of such application, and such application states that the applicants desire to
communicate with other Holders of Securities of a particular Series (in which case the applicants must all hold Securities of such Series) or with Holders of all Securities with respect to their rights under this Indenture or under such Securities
and such application is accompanied by a copy of the form of proxy or other communication which such applicants propose to transmit, then the Trustee shall, within five Business Days after the receipt of such application, at its election, either

 (i) afford to such applicants access to the information preserved at the time by the Trustee in accordance
with the provisions of subsection (a) of this Section 4.2, or 
 (ii) inform such applicants as to the
approximate number of Holders of Securities of such Series or all Securities, as the case may be, whose names and addresses appear in the information preserved at the time by the Trustee, in accordance with the provisions of subsection (a) of
this Section. 
 If the Trustee shall elect not to afford to such applicants access to such information, the Trustee shall, upon
the written request of such applicants, mail to each Securityholder of such Series or all Securities, as the case may be, whose name and address appear in the information preserved at the time by the Trustee in accordance with the provisions of
subsection (a) of this Section, a copy of the form of proxy or other communication which is specified in such request, with reasonable promptness after a tender to the Trustee of the material to be mailed and of payment, or provision for the
payment, of the reasonable expenses of mailing, unless within five days after such tender, the Trustee shall mail to such applicants and file with the Commission together with a copy of the material to be mailed, a written statement to the effect
that, in the opinion of the Trustee, such mailing would be contrary to the best interests of the Holders of Securities of such Series or all Securities, as the case may be, or could be in violation of applicable law. Such written statement shall
specify the basis of such opinion. If the Commission, after opportunity for a hearing upon the objections specified in the written statement so filed, shall enter an order refusing to sustain any of such objections or if, after the entry of such
order sustaining one or more of such objections, the Commission shall find, after notice and opportunity for hearing, that all the objections so sustained have been met, and shall enter an order so declaring, the Trustee shall mail copies of such
material to all such Securityholders with reasonable promptness after the entry of such order and the renewal of such tender; otherwise the Trustee shall be relieved of any obligation or duty to such applicants respecting their application. If the
Commission shall refuse to accept the filing by the Trustee because the Company is not subject to the ongoing reporting requirements of Section 13 of 15(d) of the Exchange Act or otherwise, or otherwise communicates to the Company, the
applicants or 
  

 37 

 
the Trustee that it does not have jurisdiction over the matter, the Trustee shall mail copies of such material to all such Securityholders with reasonable promptness after such refusal or
communication. 
 (c) Each and every Holder of Securities, by receiving and holding the same, agrees with the Company, the
Guarantor and the Trustee that none of the Company, the Guarantor, the Trustee, any Agent or any agent of the Company, the Guarantor, the Trustee or such Agent shall be held accountable by reason of the disclosure of any such information as to the
names and addresses of the Holders of Securities in accordance with the provisions of subsection (b) of this Section, regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason
of mailing any material pursuant to a request made under such subsection (b). 
 SECTION 4.3 Reports by the Company and
Guarantor. The Guarantor or the Company, if the Company is no longer a Subsidiary of the Guarantor, covenants: 
 (a) to
file with the Trustee for the Securities of each Series, within 15 days after the Company or the Guarantor, as the case may be, 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 Company or the Guarantor, as the case may be, may be required to file with the Commission
pursuant to Section 13 or Section 15(d) of the Exchange Act, or if the Company or the Guarantor, as the case may be, is not required to file information, documents, or reports pursuant to either of such Sections, then to file with the
Trustee and the Commission, in accordance with applicable rules and regulations, if any, 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 Exchange Act, or 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; 

(b) to file with the Trustee and the Commission, in accordance with applicable rules and regulations, if any, prescribed from time to
time by the Commission, such additional information, documents, and reports with respect to compliance by the Company or the Guarantor, as the case may be, with the conditions and covenants provided for in this Indenture as may be required from time
to time by such rules and regulations; and 
 (c) to transmit by mail to the Holders of Securities, as the names and addresses
of such Holders appear upon the Security Register, in the manner required by Section 11.4, within 30 days after the filing thereof with the Trustee, such summaries of any information, documents, and reports required to be filed by the Company
or the Guarantor, as the case may be, pursuant to subsection (a) and (b) of this Section as may be required to be transmitted to such Holders 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 Company’s or the Guarantor’s compliance with any of their respective covenants hereunder
(as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
  

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 SECTION 4.4 Reports by the Trustee. (a) The Trustee shall transmit to Holders
such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act, if applicable, at the times and in the manner provided pursuant thereto. If required by Section 313(a) of the Trust
Indenture Act, the Trustee shall, within sixty days after each May 15 following the date of this Indenture deliver to Holders a brief report, dated as of such May 15, which complies with the provisions of such Section 313(a).

 (b) A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock
exchange, if any, upon which the Securities are listed, with the Commission, the Company and the Guarantor. The Company or the Guarantor, as the case may be, will promptly notify the Trustee in writing when the Securities are listed on any stock
exchange and of any delisting thereof. 
 ARTICLE FIVE 

REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS 

ON EVENT OF DEFAULT 

SECTION 5.1 Event of Default Defined; Acceleration of Maturity; Waiver of Default. In case one or more of the following Events of
Default (unless it is either inapplicable to a particular Series or it is specifically deleted from or modified in the instrument establishing such Series and the form of Security for such Series) shall have occurred and be continuing with respect
to any Series of Securities: 
 (a) default in the payment of any installment of interest upon any Security of such Series, or
any Additional Amounts payable with respect thereto, as and when such interest becomes or such Additional Amounts become due and payable, and continuance of such default for a period of 30 days; or 

(b) default in the payment of the principal of or any premium on any Security of such Series, or any Additional Amounts payable with
respect thereto, when such principal or premium becomes or such Additional Amounts become due and payable at their Maturity, upon redemption (for any sinking fund payment or otherwise), by declaration or otherwise; or 

(c) failure on the part of the Company or the Guarantor, as the case may be, duly to observe or perform any other of the covenants or
agreements on the part of the Company or the Guarantor in this Indenture, as the case may be, in the Securities of such Series, or in this Indenture contained and relating to such Series, for a period of 60 days after the date on which written
notice specifying such failure and requiring the Company or the Guarantor, as the case may be, to remedy the same and stating that such notice is a “Notice of Default” hereunder shall have been given to the Company or the Guarantor, as the
case may be, by the Trustee for the Securities of such Series, or to the Company, the Guarantor and the Trustee by the Holders of at least 25% in aggregate principal amount at Maturity of the Securities of such Series at the time Outstanding in
accordance with Section 11.4; or 
  

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 (d) if any event of default as defined in any mortgage, indenture or instrument under which
there may be issued, or by which there may be secured or evidenced, any Indebtedness of the Company, the Guarantor or any of its Designated Subsidiaries (including, in each case, an Event of Default under any other Series of Securities), whether
such Indebtedness now exists or shall hereafter be created or incurred, shall happen and shall consist of default in the payment of more than $30,000,000 in principal amount of such Indebtedness at the maturity thereof (after giving effect to any
applicable grace period) or shall result in such Indebtedness in principal amount in excess of $30,000,000 becoming or being declared due and payable prior to the date on which it would otherwise become due and payable, and such default shall not be
cured or such acceleration shall not be rescinded or annulled within a period of 30 days after there shall have been given to the Company and the Guarantor by the Trustee or to the Company, the Guarantor and the Trustee by the Holders of at least
25% in aggregate principal amount at Maturity of the Outstanding Securities of such Series, a written notice specifying such event of default and requiring the Company or the Guarantor to cause such acceleration to be rescinded or annulled or to
cause such Indebtedness to be discharged and stating that such notice is a “Notice of Default” hereunder in accordance with Section 11.4; or 

(e) the Company or the Guarantor shall fail within 60 days to pay, bond or otherwise discharge any uninsured judgment or court order for
the payment of money in excess of $30,000,000, which is not stayed on appeal or is not otherwise being appropriately contested in good faith; or 

(f) except as permitted by this Indenture, the Guarantee shall be held in any judicial proceeding to be unenforceable or invalid or shall
cease for any reason to be in full force and effect or the Guarantor or any Person acting on its behalf, shall deny or disaffirm the Guarantor’s obligations under the Guarantee; or 

(g) the entry by a court having competent jurisdiction of: 

(i) a decree or order for relief in respect of the Company, the Guarantor or any of its Designated Subsidiaries in an
involuntary proceeding under any applicable bankruptcy, insolvency, reorganization (other than a reorganization under a foreign law that does not relate to insolvency) or other similar law and such decree or order shall remain unstayed and in effect
for a period of 60 consecutive days; or 
 (ii) a decree or order adjudging the Company, the Guarantor or any of
its Designated Subsidiaries to be insolvent, or approving a petition seeking reorganization (other than a reorganization under a foreign law that does not relate to insolvency), arrangement, adjustment or composition of the Company, the Guarantor or
any of its Designated Subsidiaries and such decree or order shall remain unstayed and in effect for a period of 60 consecutive days; or 

(iii) a final and non-appealable order appointing a custodian, receiver, liquidator, assignee, trustee or other similar
official of the Company, the Guarantor or any of its Designated Subsidiaries of any substantial part of the property of the Company, the Guarantor or any of its Designated Subsidiaries or ordering the winding up or liquidation of the affairs of the
Company, the Guarantor or any of its Designated Subsidiaries; or 
  

 40 

 (h) the commencement by the Company, the Guarantor or any of its Designated Subsidiaries of
a voluntary proceeding under any applicable bankruptcy, insolvency, reorganization (other than a reorganization under a foreign law that does not relate to insolvency) or other similar law or of a voluntary proceeding seeking to be adjudicated
insolvent or the consent by the Company, the Guarantor or any of its Designated Subsidiaries to the entry of a decree or order for relief in an involuntary proceeding under any applicable bankruptcy, insolvency, reorganization or other similar law
or to the commencement of any insolvency proceedings against it, or the filing by the Company, the Guarantor or any of its Designated Subsidiaries of a petition or answer or consent seeking reorganization, arrangement, adjustment or composition of
the Company, the Guarantor or any of its Designated Subsidiaries under any applicable law, or the consent by the Company, the Guarantor or any of its Designated Subsidiaries to the filing of such petition or to the appointment of or taking
possession by a custodian, receiver, liquidator, assignee, trustee or similar official of the Company, the Guarantor or any of its Designated Subsidiaries of any substantial part of the property of the Company, the Guarantor or any of its Designated
Subsidiaries or the making by the Company, the Guarantor or any of its Designated Subsidiaries of an assignment for the benefit of creditors, or the taking of corporate action by the Company, the Guarantor or any of its Designated Subsidiaries in
furtherance of any such action; or 
 (i) any other Event of Default provided in any supplemental indenture or Board Resolution
under which such Series of Securities is issued or in the form of Security for such Series; 
 then and in each and every such case (other than
an Event of Default under clause (g) and (h) above), so long as such Event of Default with respect to such Series shall not have been remedied or waived, unless the principal of all Securities of such Series shall have already become due
and payable, either the Trustee for such Series or the Holders of not less than 25% in aggregate principal amount at Maturity of the Securities of such Series then Outstanding hereunder, by notice in writing to the Company (and to the Trustee if
given by such Holders), may declare the principal (or, in the case of Original Issue Discount Securities, such principal amount as may be determined in accordance with the terms thereof) of all the Securities of such Series to be due and payable
immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Securities of such Series contained to the contrary notwithstanding. With respect to an Event of Default
described under clauses (g) and (h) above, the principal of all Securities of such Series shall become immediately due and payable without any declaration or other act by the Trustee or the Holders. This provision, however, is subject to
the condition that if at any time after the principal of the Securities of such Series (or, in the case of Original Issue Discount Securities, such principal amount as may be determined in accordance with the terms thereof) shall have been so
declared due and payable, and if recission would not conflict with any judgment or decree of a court of competent jurisdiction, the Company or the Guarantor shall pay or shall deposit with the Trustee a sum sufficient to pay in the Currency in which
the Securities of such Series are payable (except as otherwise provided pursuant to Section 2.3 for the Securities of such Series and except as provided in Section 2.12(b), (d) and (e) hereof) all matured installments of
interest, if any, upon 
  

 41 

 
all the Securities of such Series and the principal of any and all Securities of such Series which shall have become due otherwise than by such acceleration (with interest upon such principal
and, to the extent that payment of such interest is enforceable under applicable law, upon overdue installments of interest, at the rate borne by the Securities of such Series (or, in the case of Original Issue Discount Securities, at the yield to
Maturity) to the date of such payment or deposit) and in Dollars such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel and all other expenses and liabilities incurred, and all advances
made, by the Trustee, its agents, attorneys and counsel and any and all defaults under this Indenture, other than the nonpayment of the principal of Securities of such Series which shall have become due by such acceleration, shall have been cured or
waived, then and in every such case the Holders of at least a majority in aggregate principal amount at Maturity of the Securities of such Series then Outstanding, by written notice to the Company, the Guarantor and the Trustee for the Securities of
such Series, may waive all defaults and rescind and annul such declaration and its consequences; but no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon.

 SECTION 5.2 Collection of Indebtedness by Trustee; Trustee May Prove Debt. The Company and the Guarantor each
covenants that (a) in case default shall be made in the payment of any installment of interest on or any Additional Amounts any of the Securities of any Series when such interest or Additional Amounts shall have become due and payable, and such
default shall have continued for a period of 30 days or (b) in case default shall be made in the payment of all or any part of the principal of any of the Securities of any Series when such interest on or any Additional Amounts shall have
become due and payable, whether upon Maturity of the Securities of such Series or upon any redemption or by declaration or otherwise, then upon demand of the Trustee for the Securities of such Series, the Company or the Guarantor, as the case may
be, will pay to the Trustee for the Securities of such Series for the benefit of the Holders of the Securities of such Series the whole amount that then shall have become due and payable on all Securities of such Series for principal of or interest,
as the case may be (with interest to the date of such payment upon the overdue principal and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest and Additional Amounts at the same
rate as the rate of interest specified in the Securities of such Series); and in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including reasonable compensation to the Trustee and each
predecessor Trustee, their respective agents, attorneys and counsel, and any expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee. 

Until such demand is made by the Trustee, the Company or the Guarantor, as the case may be, may pay the principal of, interest on, and
any Additional Amounts the Securities of any Series to the Persons entitled thereto, whether or not the principal of and interest on the Securities of such Series are overdue. 

In case the Company or the Guarantor, as the case may be, shall fail forthwith to pay such amounts upon such demand, the Trustee for the
Securities of such Series, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such
action or proceedings to judgment or final decree, and may enforce any such judgment or final decree against the Company or the Guarantor, as the case may be, or other 

 

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obligor upon such Securities and collect in the manner provided by law out of the property of the Company, the Guarantor or any other obligor upon such Securities, wherever situated, the moneys
adjudged or decreed to be payable. 
 In case there shall be pending proceedings relative to the Company, the Guarantor or any
other obligor upon the Securities under Title 11 of the United States Code or any other applicable Federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization, liquidator,
sequestrator or similar official shall have been appointed for or taken possession of the Company, the Guarantor or their respective properties or such other obligor, or in case of any other comparable judicial proceedings relative to the Company,
the Guarantor or other obligor under the Securities of any Series, if any, or to the creditors or property of the Company, the Guarantor or any such other obligor, the Trustee, irrespective of whether the principal of any 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 pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such proceedings
or otherwise: 
 (a) to file and prove a claim or claims for the whole amount of principal (or, if the Securities of such Series
are Original Issue Discount Securities, such portion of the principal amount as may be due and payable with respect to the Securities of such Series pursuant to a declaration in accordance with Section 5.1 hereof), any premium, interest and
Additional Amounts owing and unpaid in respect of the Securities of any Series, and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation
to the Trustee and each predecessor Trustee, and their respective agents, attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee,) and of the
Securityholders allowed in any judicial proceedings relative to the Company, the Guarantor or any other obligor upon all Securities of any Series, or to the creditors or property of the Company, the Guarantor or any such other obligor, 

(b) unless prohibited by applicable law and regulations, to vote on behalf of the Holders of the Securities of any Series in any election
of a trustee or a standby trustee in arrangement, reorganization, liquidation or other bankruptcy or insolvency proceedings or Person performing similar functions in comparable proceedings, and 

(c) to collect and receive any moneys or other property payable or deliverable on any such claims, and to distribute all amounts received
with respect to the claims of the Securityholders and of the Trustee on their behalf; and any trustee, receiver, or liquidator, custodian or other similar official is hereby authorized by each of the Holders to make payments to the Trustee for the
Securities of such Series, and, in the event that such Trustee shall consent to the making of payments directly to the Securityholders, to pay to such Trustee such amounts as shall be sufficient to cover reasonable compensation to such Trustee, each
predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by such Trustee and each predecessor Trustee and all other amounts due to such Trustee or any predecessor
Trustee pursuant to Section 6.6. 
  

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 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or vote for or accept or adopt on behalf of any Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of any Series or the rights of any Holder thereof, or to authorize the Trustee to vote in
respect of the claim of any Securityholder in any such proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar Person. 

All rights of action and of asserting claims under this Indenture, or under any of the Securities, may be enforced by the Trustee for the
Securities of such Series without the possession of any of the Securities of such Series or the production thereof at any trial or other proceedings relative thereto, and any such action or proceedings instituted by the Trustee shall be brought in
its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each predecessor Trustee and their respective agents and attorneys, shall be for the
ratable benefit of the Holders of the Securities in respect of which such action was taken. 
 In any proceedings brought by the
Trustee for the Securities of such Series (and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party), the Trustee shall be held to represent all the Holders of the Securities in
respect to which such action was taken, and it shall not be necessary to make any Holders of such Securities parties to any such proceedings. 

SECTION 5.3 Application of Proceeds. Any moneys collected by the Trustee for the Securities of such Series pursuant to this
Article in respect of the Securities of any Series and any money or other property distributable in respect of the Company’s or the Guarantor’s obligations under this Indenture after the occurrence of an Event of Default shall be applied
in the following order at the date or dates fixed by such Trustee and, in case of the distribution of such moneys on account of principal, interest or Additional Amounts upon presentation of the several Securities in respect of which moneys have
been collected and stamping (or otherwise noting) thereon the payment, or issuing Securities of such Series in reduced principal amounts in exchange for the presented Securities of like Series if only partially paid, or upon surrender thereof if
fully paid: 
 FIRST: To the payment of costs and expenses applicable to such Series in respect of which moneys
have been collected, including compensation to the Trustee and each predecessor Trustee and their respective agents and attorneys and of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee and
all other amounts due to the Trustee or any predecessor Trustee pursuant to Section 6.6; 
 SECOND: In case
the principal of the Securities of such Series in respect of which moneys have been collected shall not have become and be then due and payable, to the payment of interest on the Securities of such Series in default in the order of the Maturity of
the installments of such interest and any Additional Amounts, with interest and any Additional Amounts (to the extent that such interest has been collected by the Trustee) upon the overdue installments of interest at the same rate as the rate of
interest specified in such Securities, such payments to be made ratably to the Persons entitled thereto, without discrimination or preference; 
  

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 THIRD: In case the principal of the Securities of such Series in respect of
which moneys have been collected shall have become and shall be then due and payable, to the payment of the whole amount then owing and unpaid upon all the Securities of such Series for principal, interest and Additional Amounts, with interest upon
the overdue principal, and (to the extent that payment of such interest is permissible by law and that such interest has been collected by the Trustee) upon overdue installments of interest at the same rate as the rate of interest specified in the
Securities of such Series; and in case such moneys shall be insufficient to pay in full the whole amount so due and unpaid upon the Securities of such Series, then to the payment of such principal, interest and Additional Amounts without preference
or priority of principal over interest or of interest over principal, or of any installment of interest over any other installment of interest, or of any Security of such Series over any other Security of such Series, ratably to the aggregate of
such principal and accrued and unpaid interest; and 
 FOURTH: To the payment of the remainder, if any, to the
Company, the Guarantor or any other Person lawfully entitled thereto. 
 SECTION 5.4 Suits for Enforcement. In case an
Event of Default has occurred, has not been waived and is continuing, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by this Indenture by such appropriate judicial proceedings as the Trustee shall deem
effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any covenant or agreement contained in this Indenture or in aid of the exercise of any power
granted in this Indenture or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 

SECTION 5.5 Restoration of Rights on Abandonment of Proceedings. In case the Trustee for the Securities of any Series shall have
proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Trustee, then and in every such case the Company, the Guarantor and the
Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Guarantor, the Trustee and the Securityholders shall continue as though no such proceedings had been
taken. 
 SECTION 5.6 Limitations on Suits by Securityholders. No Holder of any Security of any Series shall have any
right by virtue or by availing of any provision of this Indenture to institute any action or proceeding at law or in equity or in bankruptcy or otherwise upon or under or with respect to this Indenture, or for the appointment of a trustee, receiver,
liquidator, custodian or other similar official or for any other remedy hereunder, unless such Holder previously shall have given to the Trustee written notice of default and of the continuance thereof, as hereinbefore provided, and unless also the
Holders of not less than 25% in aggregate principal amount at Maturity of the Securities of such Series then Outstanding shall have made written request upon the Trustee to institute such action or proceedings in its own name as Trustee hereunder
and shall have offered to the Trustee such reasonable indemnity, as it may require against the costs, expenses and liabilities to be incurred therein or thereby and the Trustee for 60 days after its receipt of such notice, request and offer of
indemnity shall have failed to institute any such action or proceeding and no direction inconsistent with such written request 

 

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shall have been given to the Trustee pursuant to Section 5.9; it being understood and intended, and being expressly covenanted by the Holder of every Security with every other Holder of a
Security and the Trustee, that no one or more Holders of Securities of any Series shall have any right in any manner whatever, by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of any other such
Holder of Securities, or to obtain or seek to obtain priority over or preference to any other such Holder or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all Holders
of Securities of the applicable Series. For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled to such relief as can be given either at law or in equity. 

SECTION 5.7 Unconditional Right of Securityholders to Institute Certain Suits. Notwithstanding any provision in this Indenture and
any provision of any Security, the right of any Holder of any Security to receive payment of the principal of and interest on such Security at the respective rates, in the respective amount and in the Currency therein prescribed on or after the
respective due dates expressed in such Security, or to institute suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 

SECTION 5.8 Powers and Remedies Cumulative; Delay or Omission Not Waiver of Default. Except as provided in Sections 2.9 or 5.6, no
right or remedy herein conferred upon or reserved to the Trustee or to the Securityholders 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. 
 No delay or omission of the Trustee or of any Securityholder to exercise any right or
power accruing upon any Event of Default occurring and continuing as aforesaid shall impair any such right or power or shall be construed to be a waiver of any such Event of Default or an acquiescence therein; and, subject to Sections 2.9 or 5.6,
every power and remedy given by this Indenture or by law to the Trustee, or to the Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee, or the Securityholders. 

SECTION 5.9 Control by Securityholders. The Holders of a majority in aggregate principal amount at Maturity of the Securities of
each Series affected (with each Series treated as a separate class) at the time Outstanding 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 by this Indenture; provided that such direction shall not be otherwise than in accordance with law and the provisions of this Indenture and provided further that
(subject to the provisions of Section 6.1) the Trustee shall have the right to decline to follow any such direction if the Trustee, being advised by counsel, shall determine that the action or proceeding so directed may not lawfully be taken or
if the Trustee in good faith by its board of directors, the executive committee, or a trust committee of directors or Responsible Officers of the Trustee shall determine that the action or proceedings so directed would involve the Trustee in
personal liability or if the Trustee in good 
  

 46 

 
faith shall so determine that the actions or forebearances specified in or pursuant to such direction would be unduly prejudicial to the interests of Holders of the Securities of all Series so
affected not joining in the giving of said direction, it being understood that the Trustee shall have no duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders. 

Nothing in this Indenture shall impair the right of the Trustee to take any action deemed proper by the Trustee and which is not
inconsistent with such direction or directions by Securityholders. 
 SECTION 5.10 Waiver of Past Defaults. Prior to the
declaration of the acceleration of the Maturity of the Securities of any Series as provided in Section 5.1, the Holders of not less than a majority in aggregate principal amount at Maturity of the Securities of such Series at the time
Outstanding may on behalf of the Holders of all the Securities of such Series waive any past default hereunder or its consequences, except a default in the payment of the principal of or interest on or any Additional Amounts with respect to, any of
the Securities of such Series (unless the conditions specified in the last paragraph of Section 5.1 have been fully satisfied). In the case of any such waiver, the Company, the Guarantor, the Trustee and the Holders of the Securities of such
Series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Upon any such waiver, such default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of
Default arising therefrom shall be deemed to have been cured and not to have occurred for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Event of Default or impair any right consequent thereon.

 SECTION 5.11 Trustee to Give Notice of Default, But May Withhold in Certain Circumstances. The Trustee shall transmit
to the Securityholders of any Series notice in the manner and to the extent provided in Section 11.4, of all defaults known to the Trustee to have occurred with respect to such Series (as provided in Section 6.2(h)), such notice to be
transmitted within 90 days after the occurrence thereof, unless such defaults shall have been cured before the giving of such notice (the term “default” or “defaults” for the purposes of this Section being hereby defined to mean
any event or condition which is, or with notice or lapse of time or both would become, an Event of Default); provided that, except in the case of default in the payment of the principal of, interest on or any Additional Amounts with respect
to, any of the Securities of such Series or any default in the payment of any sinking fund installment or analogous obligation in respect of any of the Securities of such Series, the Trustee shall be protected in withholding such notice if and so
long as the board of directors, the executive committee, or a trust committee of directors or trustees or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Securityholders of
such Series. 
 SECTION 5.12 Right of Court to Require Filing of Undertaking to Pay 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 

 

 47 

 
undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, 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 of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder
or group of Securityholders of any Series holding in the aggregate more than 10% in aggregate principal amount at Maturity of the Securities of such Series, or, in the case of any suit relating to or arising under clause (d) of Section 5.1
(if the suit relates to Securities of more than one but less than all Series), 10% in aggregate principal amount at Maturity of Securities Outstanding affected thereby, or in the case of any suit relating to or arising under clause (d) (if the
suit under clause (d) relates to all the Securities then Outstanding), (e), (f) or (g) of Section 5.1, 10% in aggregate principal amount of all Securities Outstanding, or to any suit instituted by any Securityholder for the
enforcement of the payment of the principal of, interest on or any Additional Amounts with respect to, any Security on or after the due date expressed in such Security. 

ARTICLE SIX 

CONCERNING THE TRUSTEE 

SECTION 6.1 Duties and Responsibilities of the Trustee; During Default; Prior to Default. (a) With respect to the Holders of
any Series of Securities issued hereunder, the Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a particular Series and after the curing or waiving of all Events of Default which may have occurred with
respect to such Series, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. In case an Event of Default with respect to the Securities of a Series has occurred (which has not been cured or waived)
of which a Responsible Officer has actual knowledge, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent Person would exercise or use
under the circumstances in the conduct of such Person’s own affairs. 
 (b) Prior to the occurrence of an Event of Default
with respect to the Securities of any Series and after the curing or waiving of all such Events of Default with respect to such Series which may have occurred, the duties and obligations of the Trustee with respect to the Securities of any Series
shall be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or
obligations shall be read into this Indenture against the Trustee; and 
 (c) In the absence of bad faith or negligence on the
part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any statements, certificates or opinions furnished to the Trustee and conforming to the
requirements of this Indenture; but in the case of any such statements, 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; 
  

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 (d) 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: 
 (i)
this Subsection shall not be construed to limit the effect of the Subsections (a), (b), (c), (e) or (f) of this Section; 

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

(iii) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in
accordance with the direction of the Holders pursuant to Section 5.9 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. 
 (e) None of the provisions contained in this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there shall be reasonable ground for believing that the repayment of such funds or adequate indemnity
against such liability is not reasonably assured to it. 
 (f) 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 conditions of this Section 6.1. 

SECTION 6.2 Certain Rights of the Trustee. Subject to Section 6.1: 

(a) the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution,
Officers’ Certificate, Guarantor’s Officer’s Certificate or any other certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, note, coupon, security or other paper or document believed by
it to be genuine and to have been signed or presented by the proper party or parties; 
 (b) any request, direction, order or
demand of the Company or of the Guarantor mentioned herein shall be sufficiently evidenced by an Officers’ Certificate or the Guarantor’s Officer’s Certificate (unless other evidence in respect thereof be herein specifically
prescribed); and any Board Resolution or Guarantor’s Board Resolution may be evidenced to the Trustee by a copy thereof certified by the secretary or any assistant secretary of the Company or the Guarantor, as the case may be; 

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

 

 49 

 (d) the Trustee shall be under no obligation to exercise any of the rights, trusts or powers
vested in it by this Indenture at the request, order or direction of any of the Securityholders pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee security or indemnity satisfactory to it
against the costs, expenses and liabilities which might be incurred therein or thereby; 
 (e) the Trustee shall not be liable
for any action taken or omitted by it in good faith and believed by it to be authorized or within the discretion, rights or powers conferred upon it by this Indenture; 

(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, consent, order, approval, appraisal, bond, debenture, note, coupon, security, or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such
facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney at the sole
cost of the Company 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 not regularly in its employ and the Trustee shall not be responsible for any misconduct or negligence on the part of any such agent or attorney appointed with due care by it hereunder; 

(h) the Trustee shall not be deemed to have notice or be charged with knowledge of any default or Event of Default unless a Responsible
Officer has received written notice from the Company, the Guarantor or any Holder of such default or Event of Default at the Corporate Trust Office of the Trustee and such notice references the Securities and this Indenture and identifies each such
default or Event of Default; 
 (i) the rights, privileges, protections, immunities and benefits given to the Trustee,
including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each Agent, agent, co-Trustee, custodian and other Person employed to act hereunder;

 (j) the Trustee may request that the Company or the Guarantor deliver an Officers’ Certificate or Guarantor’s
Officer’s Certificate, respectively, setting forth the names of individuals and/or titles of Officers authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate or Guarantor’s
Officer’s Certificate, as the case may be, may be signed by any Person authorized to sign an Officers’ Certificate or Guarantor’s Officer’s Certificate, as the case may be, including any Person specified as so authorized in any
such certificate previously delivered and not superseded; 
 (k) no provision of this Indenture shall be deemed to impose any
duty or obligation on the Trustee to perform any act or acts, receive or obtain any interest in property or exercise any interest in property, or exercise any right, power, duty or obligation conferred or imposed on it in any jurisdiction in which
it shall be illegal, or in which the Trustee shall be unqualified or 
  

 50 

 
incompetent in accordance with applicable law, to perform any such act or acts, to receive or obtain any such interest in property or to exercise any such right, power, duty or obligation; and no
permissive or discretionary power or authority available to the Trustee shall be construed to be a duty; 
 (l) anything in this
Indenture notwithstanding, in no event shall the Trustee be liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including but not limited to loss of profit), even if the Trustee has been advised as to the
likelihood of such loss or damage and regardless of the form of action; and 
 (m) the Trustee shall not be responsible or
liable for any failure or delay in the performance of its obligations under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes;
fire; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; interruptions; loss or malfunctions of utilities, computer (hardware or software) or communication services; accidents; labor disputes; acts of civil or
military authority and governmental action. 
 SECTION 6.3 Trustee Not Responsible for Recitals, Disposition of Securities or
Application of Proceeds Thereof. The recitals contained herein and in the Securities, except the Trustee’s certificate of authentication, shall be taken as the statements of the Company or the Guarantor, as the case may be, and the Trustee
assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or sufficiency of any offering materials, this Indenture, the Guarantee or of the Securities. The Trustee shall not be accountable for
the use or application by the Company or the Guarantor, as the case may be, of any of the Securities or of the proceeds thereof. 

SECTION 6.4 Trustee and Agents May Hold Securities; Collections, etc. The Trustee, any Paying Agent, Registrar, or any agent of
the Company, the Guarantor or the Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not the Trustee or such agent and, subject to Sections 6.8 and 6.13, if
operative, may otherwise deal with the Company or the Guarantor, as the case may be, and receive, collect, hold and retain collections from the Company or the Guarantor, as the case may be, with the same rights it would have if it were not the
Trustee or such agent. 
 SECTION 6.5 Moneys Held by Trustee. Subject to the provisions of Section 10.4 hereof, all
moneys received by the Trustee shall, until used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds except to the extent required by mandatory provisions of law.
Neither the Trustee, any Agent, nor any agent of the Company, the Guarantor, the Trustee or the Agent shall be under any liability for interest on or the investment of any moneys received by it hereunder. 

SECTION 6.6 Compensation and Indemnification of Trustee and Its Prior Claim. The Company and the Guarantor, covenant and agree to
pay in Dollars to the Trustee from time to time, and the Trustee shall be entitled to, such compensation as shall be agreed in writing between the Company or the Guarantor, as the case may be, and the Trustee (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an express trust) and 
  

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the Company and the Guarantor covenant and agree to pay or reimburse in Dollars the Trustee and each predecessor Trustee upon its request for all expenses, disbursements and advances incurred or
made by or on behalf of it in accordance with any of the provisions of this Indenture or the Securities (including the compensation and the expenses and disbursements of its counsel and of all agents and other Persons not regularly in its employ)
except any such expense, disbursement or advance as may arise from its negligence or bad faith. Each of the Company and the Guarantor also covenants to indemnify the Trustee and each predecessor Trustee for, and to hold it harmless against, any and
all loss, liability, damage, claim, cost or expense, including taxes (other than taxes based on the income of the Trustee), incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration
of this Indenture, the exercise of its rights hereunder or the trusts hereunder and its duties hereunder, including the costs and expenses of defending itself against or investigating any claim (whether asserted by the Company, the Guarantor, a
Holder or any other Person) of liability in the premises. The obligations of the Company and the Guarantor under this Section to compensate and indemnify the Trustee and each predecessor Trustee and to pay or reimburse the Trustee and each
predecessor Trustee for expenses, disbursements and advances shall constitute additional Indebtedness hereunder and shall survive the satisfaction and discharge of the Securities and this Indenture, the termination for any reason of this Indenture,
or the resignation or removal of the Trustee. Such additional Indebtedness shall be a senior claim to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the
Holders of particular Securities, and the Securities are hereby subordinated to such senior claim. 
 When the Trustee incurs
expenses or renders services in connection with an Event of Default specified in Section 5.1(e), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute
expenses of administration under any applicable Federal or state bankruptcy, insolvency or other similar law. 

“Trustee” for purposes of this Section shall include any predecessor Trustee; provided, however, that the
negligence, willful misconduct or bad faith of any Trustee hereunder shall not affect the rights of any other Trustee hereunder. 

SECTION 6.7 Right of Trustee to Rely on Officers’ Certificate, Guarantor’s Officer’s Certificate, etc. Whenever in
the administration of the trusts of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering or omitting any action hereunder, such matter (unless other evidence in respect
thereof be herein specifically prescribed) may, in the absence of bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officers’ Certificate or Guarantor’s Officer’s Certificate, as the case
may be, complying with Section 11.5 delivered to the Trustee, and such certificate, in the absence of bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it or under the
provisions of this Indenture upon the faith thereof. 
 SECTION 6.8 Disqualification of Trustee; Conflicting Interests.
If the Trustee for the Securities of any Series has or shall acquire any “conflicting interest,” as defined in the Trust Indenture Act, it shall, within 90 days after ascertaining that it has such conflicting interest, and if the default
(as defined in the Trust Indenture Act) to which such conflicting interest relates has 
  

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not been cured or waived or otherwise eliminated before the end of such 90-day period, the Trustee shall, either eliminate such conflicting interest or resign in the manner and with the effect
specified in the Trust Indenture Act and this Indenture. 
 SECTION 6.9 Persons Eligible for Appointment as Trustee. The
Trustee for each Series of Securities hereunder shall at all times be a Corporation organized and doing business under the laws of the United States of America or of any State or the District of Columbia having a combined capital and surplus of at
least $50,000,000, and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by Federal, state or District of Columbia authority. If such Corporation publishes reports of condition at
least annually, pursuant to law or to the requirements of the aforesaid 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. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the
effect specified in Section 6.10. 
 SECTION 6.10 Resignation and Removal; Appointment of Successor Trustee.
(a) The Trustee, or any Trustee or trustees hereafter appointed, may at any time resign with respect to one or more or all Series of Securities by giving written notice of resignation to the Company and the Guarantor and by mailing notice
thereof to the Holders in the manner and to the extent provided in Section 11.4. Upon receiving such notice of resignation, the Company or the Guarantor, as the case may be, shall promptly appoint a successor Trustee or Trustees with respect to
the applicable Series by written instrument in duplicate, executed by authority of the Board of Directors or the Guarantor’s Board of Directors, as the case may be, one copy of which instrument shall be delivered to the resigning Trustee and
one copy to the successor Trustee or trustees. If no successor Trustee shall have been so appointed with respect to any Series and have accepted appointment within 30 days after the mailing of such notice of resignation, the resigning Trustee may
petition, at the expense of the Company and the Guarantor, any court of competent jurisdiction for the appointment of a successor Trustee, or any Securityholder who has been a bona fide Holder of a Security or Securities of the applicable Series for
at least six months may, subject to the provisions of Section 5.12, on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor Trustee. Such court may thereupon, after such notice, if any,
as it may deem proper and prescribe, appoint a successor Trustee. 
 (b) In case at any time any of the following shall occur:

 (i) the Trustee shall fail to comply with the provisions of Section 6.8 with respect to any Series of
Securities after written request therefor by the Company, the Guarantor or by any Securityholder who has been a bona fide Holder of a Security or Securities of such Series for at least six months unless the Trustee’s duty to resign is stayed in
accordance with the provisions of Section 310(b) of the Trust Indenture Act; or 
 (ii) the Trustee shall
cease to be eligible in accordance with the provisions of Section 6.9 and shall fail to resign after written request therefor by the Company, the Guarantor or by any Securityholder; or 

 

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 (iii) the Trustee shall become incapable of acting with respect to any
Series of the Securities, or shall be adjudged a bankrupt or insolvent, or a receiver or liquidator 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, the Company or the Guarantor may remove the Trustee
with respect to the applicable Series of Securities and appoint a successor Trustee for such Series by written instrument, in duplicate, executed by order of the Board of Directors of the Company or the Guarantor’s Board of Directors, as the
case may be, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor Trustee, or, subject to the provisions of Section 5.12, any Securityholder who has been a bona fide Holder of a Security or
Securities 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 removal of the Trustee and the appointment of a successor Trustee with respect to such
Series. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor Trustee. 

(c) The Holders of a majority in aggregate principal amount of the Securities of each Series at the time Outstanding may at any time
remove the Trustee with respect to Securities of such Series and such Holders shall provide promptly to the Company and the Guarantor the evidence provided for in Section 7.1 of the action in that regard taken by the Securityholders. In such an
event and upon receipt of such evidence, the Company or the Guarantor will appoint a successor Trustee with respect to the Securities of such Series by delivering to the Trustee so removed, and to the successor Trustee so appointed such evidence
received from the Holders. 
 If no successor Trustee shall have been appointed with respect to such Series within 30 days after
the mailing of such notice of removal, the Trustee being removed may petition, at the expense of the Company and the Guarantor, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such
Series. 
 (d) Any resignation or removal of the Trustee with respect to any Series and any appointment of a successor Trustee
with respect to such Series pursuant to any of the provisions of this Section 6.10 shall become effective upon acceptance of appointment by the successor Trustee as provided in Section 6.11. 

SECTION 6.11 Acceptance of Appointment by Successor Trustee. Any successor Trustee appointed as provided in Section 6.10
shall execute and deliver to the Company, the Guarantor and to its predecessor Trustee an instrument accepting such appointment hereunder, and thereupon the resignation or removal of the predecessor Trustee with respect to all or any applicable
Series shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all rights, powers, duties and obligations with respect to such Series of its predecessor hereunder, with like effect as
if originally named as Trustee for such Series hereunder; but, nevertheless, on the written request of the Company, of the Guarantor or of the successor Trustee, upon payment of its charges then unpaid, the Trustee ceasing to act shall, subject to
Section 10.4, pay over to the successor Trustee all moneys at the time held by it hereunder and shall execute and deliver an instrument transferring to such 

 

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successor Trustee all such rights, powers, duties and obligations. Upon request of any such successor Trustee, the Company shall execute any and all instruments in writing for more fully and
certainly vesting in and confirming to such successor Trustee all such rights and powers. Any Trustee ceasing to act shall, nevertheless, retain a prior claim upon all property or funds held or collected by such Trustee to secure any amounts then
due it pursuant to the provisions of Section 6.6. 
 If a successor Trustee is appointed with respect to the Securities of
one or more (but not all) Series, the Company, the Guarantor, the predecessor Trustee and each successor Trustee with respect to the Securities of any applicable Series shall execute and deliver an indenture supplemental hereto which shall contain
such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the predecessor Trustee with respect to the Securities of any Series as to which the predecessor Trustee is not retiring shall
continue to be vested in the predecessor Trustee, and 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 under separate indentures. 

No successor Trustee with respect to any Series of Securities shall accept appointment as provided in this Section 6.11 unless at
the time of such acceptance such successor Trustee shall be qualified under the provisions of Section 6.8 and eligible under the provisions of Section 6.9. 

Upon acceptance of appointment by any successor Trustee as provided in this Section 6.11, the Company or the Guarantor, as the case
may be, shall give notice in the manner and to the extent provided in Section 11.4 to the Holders of Securities of any Series for which such successor Trustee is acting as Trustee at their last addresses as they shall appear in the Security
Register. If the acceptance of appointment is substantially contemporaneous with the resignation, then the notice called for by the preceding sentence may be combined with the notice called for by Section 6.10. If the Company fails to mail such
notice within ten days after acceptance of appointment by the successor Trustee, the successor Trustee shall cause such notice to be mailed at the expense of the Company and the Guarantor. 

SECTION 6.12 Merger, Conversion, Consolidation or Succession to Business of Trustee. Any Corporation into which the Trustee may be
merged or converted or with which it may be consolidated, or any Corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any Corporation succeeding to all or substantially all the corporate trust
business of the Trustee, shall be the successor of the Trustee hereunder, provided that such Corporation shall be qualified under the provisions of Section 6.8 and eligible under the provisions of Section 6.9, without the execution or
filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary notwithstanding. 

In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture any of the Securities of any
Series shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor Trustee and deliver such Securities so authenticated; and, in case at that time any of the
Securities of any Series shall not have been authenticated, any successor to the Trustee may 
  

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authenticate such Securities either in the name of any predecessor Trustee hereunder or in the name of the successor Trustee; and in all such cases such certificates shall have the full force
which it is anywhere in the Securities of such Series or in this Indenture provided that the certificate of the Trustee shall have; provided, that the right to adopt the certificate of authentication of any predecessor Trustee or to
authenticate Securities of any Series in the name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation. 

SECTION 6.13 Preferential Collection of Claims Against the Company. If and when the Trustee shall be or become a creditor of the
Company (or any other obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act, if such act shall then be applicable to this Indenture, regarding the collection of claims against the Company or the
Guarantor (or any such other obligor). 
 SECTION 6.14 Appointment of Co-Trustees. At any time or times, for the purpose
of meeting the legal requirements of any jurisdiction in which any collateral may at the time be located, or if the Trustee is unable or unwilling to execute any documents in a jurisdiction in which any collateral may at any time be located or hold
or enforce the rights of the secured parties thereunder, each of the Company and the Trustee shall have power to appoint, and, upon the written request of the Trustee or of the Holders of at least twenty-five percent (25%) in aggregate
principal amount of all of the Securities then Outstanding, the Company shall for such purpose join with the Trustee in the execution and delivery of all instruments and agreements necessary or proper to appoint, one or more Persons approved by the
Trustee and, if no Event of Default shall have occurred and be continuing, by the Company either to act as co-Trustee, jointly with the Trustee, of all or any part of any collateral, or to act as separate Trustee of any such property, in either case
with such powers as may be provided in the instrument of appointment, and to vest in such Person or Persons, in the capacity aforesaid, any property, title, right or power deemed necessary or desirable, subject to the other provisions of this
Section. If the Company does not join in such appointment within fifteen (15) days after the receipt by it of a request so to do, or if an Event of Default shall have occurred and be continuing, the Trustee alone shall have power to make such
appointment. 
 Should any written instrument or instruments from the Company and the Guarantor be required by any co-Trustee or
separate Trustee so appointed to more fully confirm to such co-Trustee or separate Trustee such property, title, right or power, any and all such instruments shall, on request, be executed, acknowledged and delivered by the Company and the
Guarantor. 
 Every co-Trustee or separate Trustee shall, to the extent permitted by law, but to such extent only, be appointed
subject to the following conditions: 
 (a) The Securities shall be authenticated and delivered, and all rights, powers, duties
and obligations hereunder in respect of the custody of securities, cash and other personal property held by, or required to be deposited or pledged with, the Trustee hereunder, shall be exercised solely, by the Trustee; 

(b) The rights, powers, duties and obligations hereby conferred or imposed upon the Trustee in respect of any property covered by such
appointment shall be conferred or imposed 
  

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upon and exercised or performed either by the Trustee or by the Trustee and such co-Trustee or separate Trustee jointly, as shall be provided in the instrument appointing such co-Trustee or
separate Trustee, except to the extent that under any law of any jurisdiction in which any particular act is to be performed the Trustee shall be incompetent or unqualified to perform such act, in which event such rights, powers, duties and
obligations shall be exercised and performed by such co-Trustee or separate Trustee; 
 (c) The Trustee at any time, by an
instrument in writing executed by it, with the concurrence of the Company and the Guarantor, may accept the resignation of or remove any co-Trustee or separate Trustee appointed under this Section, and, if an Event of Default shall have occurred and
be continuing, the Trustee shall have power to accept the resignation of, or remove, any such co-Trustee or separate Trustee without the concurrence of the Company. Upon the written request of the Trustee, the Company and the Guarantor shall join
with the Trustee in the execution and delivery of all instruments and agreements necessary or proper to effectuate such resignation or removal. A successor to any co-Trustee or separate Trustee so resigned or removed may be appointed in the manner
provided in this Section; 
 (d) Neither the Trustee nor any co-Trustee or separate Trustee hereunder shall be personally liable
by reason of any act or omission of any other Trustee hereunder; and 
 (e) Any act of Holders delivered to the Trustee shall be
deemed to have been delivered to each such co-Trustee and separate Trustee. 
 ARTICLE SEVEN 

CONCERNING THE SECURITYHOLDERS 

SECTION 7.1 Evidence of Action Taken by Securityholders. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or
taken by a specified percentage in principal amount of the Securityholders of any or all Series may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such specified percentage of Securityholders in
Person or by agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee. Proof of execution of any 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 Company and the Guarantor, if made in the manner provided in this Article. 

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

SECTION 7.2 Proof of Execution of Instruments. The execution of any instrument by a Securityholder or his agent or proxy may be
proved in accordance with such reasonable rules and regulations as may be prescribed by the Trustee or in such manner as shall be satisfactory to the Trustee. 

SECTION 7.3 Holders to Be Treated as Owners. The Company, the Guarantor, the Trustee and any agent of the Company, the Guarantor
or the Trustee may deem and treat the 
  

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Person in whose name any Security shall be registered upon the Security Register for such Series as the absolute owner of such Security (whether or not such Security shall be overdue and
notwithstanding any notation of ownership or other writing thereon) for the purpose of receiving payment of or on account of the principal of, interest on, and any Additional Amounts with respect to, such Security and for all other purposes; and
neither the Company, the Guarantor, the Trustee nor any agent of the Company, the Guarantor or the Trustee shall be affected by any notice to the contrary. All such payments so made to any such Person, or upon his order, shall be valid, and, to the
extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. 

SECTION 7.4 Securities Owned by Company Deemed Not Outstanding. In determining whether the Holders of the requisite aggregate
principal amount of Outstanding Securities of any or all Series have concurred in any direction, consent or waiver under this Indenture or whether a quorum is present at a meeting of Holders of Securities, Securities which are owned by the Company,
the Guarantor or any other obligor on the Securities with respect to which such determination is being made or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company, the
Guarantor or any other obligor on the Securities with respect to which such determination is being made shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining
whether the Trustee shall be protected in relying on any such direction, consent or waiver, and for purposes of determining the presence of a quorum, only Securities which a Responsible Officer of the Trustee actually knows are so owned shall be so
disregarded. Securities so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the
pledgee is not the Company, the Guarantor or any other obligor upon the Securities or any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company, the Guarantor or any other obligor on
the Securities. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. Upon request of the Trustee, the Company shall furnish to the
Trustee promptly an Officers’ Certificate listing and identifying all Securities, if any, known by the Company to be owned or held by or for the account of any of the above-described Persons; and, subject to Sections 6.1 and 6.2, the Trustee
shall be entitled to accept such Officers’ Certificate as conclusive evidence of the facts therein set forth and of the fact that all Securities not listed therein are Outstanding for the purpose of any such determination. 

SECTION 7.5 Right of Revocation of Action Taken. At any time prior to (but not after) the evidencing to the Trustee, as provided
in Section 7.1, of the taking of any action by the Holders of the percentage in aggregate principal amount of the Securities of any or all Series, as the case may be, specified in this Indenture in connection with such action, any Holder of a
Security the serial number of which is shown by the evidence to be included among the serial numbers of the Securities the Holders of which have consented to such action may, by filing written notice at the Corporate Trust Office and upon proof of
holding as provided in this Article, revoke such action so far as concerns such Security. Except as aforesaid any such action taken by the Holder of any Security shall be conclusive and binding upon such Holder and upon all future Holders and owners
of such Security and of any Securities issued in exchange or substitution therefor, irrespective of whether or not any notation in regard thereto is made upon 

 

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any such Security. Any action taken by the Holders of the percentage in aggregate principal amount of the Securities of any or all Series, as the case may be, specified in this Indenture in
connection with such action shall be conclusively binding upon the Company, the Guarantor, the Trustee and the Holders of all the Securities affected by such action. 

SECTION 7.6 Record Date for Determination of Holders Entitled to Vote. The Company may, in the circumstances permitted by the
Trust Indenture Act, if applicable, set a record date for the purpose of determining the Securityholders entitled to give or take any request, demand, authorization, direction, notice, consent, waiver or other action, or to vote on any action,
authorized or permitted to be given or taken by Securityholders. If there is to be a record date and no such record date has been set by the Company prior to the first solicitation of a Securityholder made by any Person in respect of any such
action, or, in the case of any such vote, prior to such vote, the record date for any such action or vote shall be the 30th day (or, if later, the date of the most recent list of Holders required to be provided pursuant to Section 4.1) prior to
such first solicitation or vote, as the case may be. With regard to any record date, only the Holders on such date (or their duly appointed proxies) shall be entitled to give or take, or vote on, the relevant action. 

SECTION 7.7 Regarding the Depositary. Neither the Trustee nor any Agent shall have any responsibility or obligation to any
beneficial owner in a Global Security, any member of or Participant or Indirect Participant in the Depositary or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any Participant or Indirect Participant,
with respect to any ownership interest in the Securities or with respect to the delivery to any Participant, Indirect Participant, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or the
payment of any amount, under or with respect to such Securities. All notices and communications to be given to the Securityholders and all payments to be made to Holders under the Securities and this Indenture shall be given or made only to or upon
the order of the Holders (which shall be the Depositary or its nominee in the case of the Global Security). The rights of beneficial owners in the Global Security shall be exercised only through the Depositary subject to the applicable procedures.
The Trustee and each Agent shall be entitled to rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, Participants, Indirect Participants, and any beneficial owners. The Trustee and
each Agent shall be entitled to deal with the Depositary, and any nominee thereof, that is the Holder of any Global Security for all purposes of this Indenture relating to such Global Security (including the payment of principal, premium, if any,
and interest and Additional Amounts, if any, and the giving of instructions or directions by or to the owner or holder of a beneficial ownership interest in such Global Security) as the sole Holder of such Global Security and shall have no
obligations to the beneficial owners thereof. Neither the Trustee nor any Agent shall have any responsibility or liability for any acts or omissions of the Depositary with respect to such Global Security, for the records of any such depositary,
including records in respect of beneficial ownership interests in respect of any such Global Security, for any transactions between the Depositary and any Participant or Indirect Participant or between or among the Depositary, any such Participant
or Indirect Participant and/or any holder or owner of a beneficial interest in such Global Security, or for any transfers of beneficial interests in any such Global Security. 

 

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 ARTICLE EIGHT 

SUPPLEMENTAL INDENTURES 

SECTION 8.1 Supplemental Indentures Without Consent of Securityholders. The Company (when authorized by a resolution of its Board
of Directors), the Guarantor (when authorized by a Guarantor’s Board Resolution) and the Trustee for the Securities of an affected Series may from time to time and at any time enter into an indenture or indentures supplemental hereto (which
shall conform to the provisions of the Trust Indenture Act, if such act shall then be applicable to the Indenture, as in force at the date of the execution thereof), in form satisfactory to such Trustee, and applicable to a particular Series of
Securities or all Series of Securities Outstanding or to be Outstanding hereunder for one or more of the following purposes: 

(a) to convey, transfer, assign, mortgage or pledge as security for the Securities of one or more Series any property or assets;

 (b) to evidence the succession of another Corporation to the Company or the Guarantor, or successive successions, and the
assumption by the successor Corporation of the covenants, agreements and obligations of the Company or the Guarantor, as the case may be, pursuant to Article Nine; 

(c) to add to the covenants of the Company or the Guarantor, as the case may be, such further covenants, restrictions, conditions or
provisions as the Board of Directors or the Guarantor’s Board of Directors, as applicable, and the Trustee shall consider to be for the protection of the Holders of Securities of any or all Series and, if such additional covenants are to be for
the benefit of less than all the Series of Securities stating that such covenants are being added solely for the benefit of such Series, and to make the occurrence, or the occurrence and continuance, of a default in any such additional covenants,
restrictions, conditions or provisions an Event of Default permitting the enforcement of all or any of the several remedies provided in this Indenture as herein set forth (and if such additional Events of Default are to be for the benefit of less
than all Series of the Securities stating that such Events of Default are being added solely for the benefit of such Series); provided, that in respect of any such additional covenant, restriction, condition or provision such supplemental indenture
may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or may provide for an immediate enforcement upon such an Event of Default or may limit the remedies
available to the Trustee upon such an Event of Default or may limit the right of the Holders of not less than a majority in aggregate principal amount at Maturity of the Securities of such Series to waive such an Event of Default; 

(d) to cure any ambiguity or to correct or supplement any provision contained herein or in any supplemental indenture which may be
defective or inconsistent with any other provision contained herein or in any supplemental indenture; or to make such other provisions in regard to matters or questions arising under this Indenture or under any supplemental indenture as the Board of
Directors or the Guarantor’s Board of Directors may deem necessary or desirable and which shall not materially and adversely affect the interests of the Holders of the Securities; 

 

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 (e) to establish the form or terms of Securities of any Series as permitted by Sections 2.1
and 2.3; 
 (f) 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 the one Trustee, pursuant to the requirements
of Section 6.11; or 
 (g) for the issuance of a different Series of Securities; provided, that prior to the
issuance of any such different Series, a supplemental indenture may change any provision of this Indenture applicable only to such Series. 

Any amendment described in clause (d) above made solely to conform this Indenture or the Securities of a particular Series to the
final prospectus, offering memorandum or other disclosure document provided to investors in connection with the initial offering of such Securities by the Company will not be deemed to adversely affect the interests of the Holders in any respect.

 The Trustee is hereby authorized to join with the Company and the Guarantor in the execution of any such supplemental
indenture, but the Trustee shall not be obligated to enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Any supplemental indenture authorized by the provisions of this Section may be executed without the consent of the Holders of any of the
Securities at the time Outstanding, notwithstanding any of the provisions of Section 8.2. 
 SECTION 8.2 Supplemental
Indentures With Consent of Securityholders. With the consent (evidenced as provided in Article Seven) of the Holders of not less than a majority in aggregate principal amount at Maturity of the Securities at the time Outstanding of each Series
affected by such supplemental indenture (treated as one class), the Company, when authorized by a resolution of its Board of Directors, the Guarantor, when authorized by a Guarantor’s Board Resolution and the Trustee for such Series of
Securities may, from time to time and at any time, enter into an indenture or indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act, if such act shall then be applicable to the Indenture, as in force at the
date of execution thereof) for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of the
Securities of each such Series; provided, that no such supplemental indenture shall (a) extend the final Maturity of any Security of such Series, or reduce the principal amount thereof or reduce the rate or extend the time of payment of
interest thereon, or reduce any amount payable on redemption thereof, or impair or affect the right of any Securityholder of such Series to institute suit for payment thereof or (b) reduce the aforesaid percentage of Securities of any such
Series, the consent of the Holders of which is required for any such supplemental indenture, without the consent of the Holders of each Security of such Series so affected. 

 

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 Upon the request of the Company or the Guarantor, accompanied by a copy of a resolution of
the Board of Directors or by a copy of a Guarantor’s Board Resolution, certified by the secretary or an assistant secretary of the Company or the Guarantor, as the case may be, authorizing the execution of any such supplemental indenture, and
upon the filing with the Trustee for such Series of Securities of evidence of the consent of Securityholders as aforesaid and other documents, if any, required by Section 7.1, the Trustee for such Series of Securities shall join with the
Company and the Guarantor in the execution of such supplemental indenture unless such supplemental indenture affects such Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case such Trustee may in its
discretion, but shall not be obligated to, enter into such supplemental indenture. 
 It shall not be necessary for the consent
of the Securityholders under this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 

Promptly after the execution by the Company, the Guarantor and the Trustee of any supplemental indenture pursuant to the provisions of
this Section, the Company and the Guarantor shall give notice in the manner and to the extent provided in Section 11.4 to the Holders of Securities of each Series affected thereby at their addresses as they shall appear on the Security
Register, setting forth in general terms the substance of such supplemental indenture. Any failure of the Company or the Guarantor to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such
supplemental indenture. 
 For the purposes of this Section 8.2 only, if the Securities of any Series are issuable upon the
exercise of warrants, each holder of an unexercised and unexpired warrant with respect to such Series shall be deemed to be a Holder of Outstanding Securities of such Series in the amount issuable upon the exercise of such warrant. For such
purposes, the ownership of any such warrant shall be determined by the Company and the Guarantor in a manner consistent with customary commercial practices. The Trustee for such Series shall be entitled to rely on an Officers’ Certificate or a
Guarantor’s Officer’s Certificate as to the principal amount of Securities of such Series in respect of which consents shall have been executed by holders of such warrants. 

SECTION 8.3 Effect of Supplemental Indenture. Upon the execution of any supplemental indenture pursuant to the provisions hereof,
this Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company, the Guarantor and the
Holders of Securities of each Series affected thereby shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such supplemental indenture
shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 
 SECTION 8.4
Documents to Be Given to Trustee. The Trustee, subject to the provisions of Sections 6.1 and 6.2, shall receive an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any supplemental indenture executed pursuant
to this Article Eight is authorized or permitted by this Indenture and the Securities of each Series affected thereby. 
  

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 SECTION 8.5 Notation on Securities in Respect of Supplemental Indentures. Securities
of any Series authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article may bear, upon the written direction of the Company, a notation for the Securities of such Series as to any matter
provided for by such supplemental indenture or as to any action taken at any such meeting. If the Company or the Trustee shall so determine, new Securities of any Series so modified as to conform, in the opinion of the Trustee and the Board of
Directors, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in exchange for the Securities of such Series then Outstanding. 

ARTICLE NINE 

CONSOLIDATION, AMALGAMATION, MERGER AND SALES 

SECTION 9.1 Company and Guarantor May Consolidate, etc., on Certain Terms. Neither the Company nor the Guarantor shall consolidate
or amalgamate with or merge into any other Person (whether or not affiliated with the Company or the Guarantor), or convey, transfer or lease its properties and assets as an entirety or substantially as an entirety to any other Person (whether or
not affiliated with the Company or the Guarantor), and the Company shall not permit any other Person (whether or not affiliated with the Company or the Guarantor) to consolidate or amalgamate with or merge into the Company or Guarantor or convey,
transfer or lease its properties and assets as an entirety or substantially as an entirety to the Company or Guarantor; unless: 

(a) either the Company or the Guarantor is the continuing Person, or the successor Person (if other than the Company or the Guarantor)
expressly assumes by supplemental indenture the obligations and covenants evidenced by this Indenture and the Securities (in which case, the Company or the Guarantor, as applicable, will be discharged therefrom), 

(b) if the Company or the Guarantor is not the continuing Person, the successor Person shall be a corporation or limited liability
company organized under the laws of the United States of America, any state thereof or the District of Columbia, Bermuda or any member of the Organization for Economic Co-Operation and Development; 

(c) immediately after giving effect to such transaction, no Event of Default or event which, after notice or lapse of time or both, would
become an Event of Default, shall have occurred and be continuing; and 
 (d) an Officers’ Certificate (if involving the
Company) or a Guarantor’s Officer’s Certificate (if involving the Guarantor) and an Opinion of Counsel are delivered to the Trustee, each (1) stating that such transaction and any supplemental indentures pertaining thereto, comply
with Article Eight and Article Nine, respectively, and (2) otherwise complying with Section 11.5. 
  

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 SECTION 9.2 Successor Substituted. Upon any consolidation of the Company or the
Guarantor with, or merger or amalgamation of the Company or the Guarantor into, any other Person or any conveyance, lease or transfer of the properties and assets of the Company or the Guarantor, substantially as an entirety, as the case may be, in
accordance with Section 9.1, the successor Person formed by such consolidation or into which the Company or the Guarantor is merged or amalgamated or to which such conveyance, lease or transfer is made shall succeed to, and be substituted for,
and may exercise every right and power of, the Company or the Guarantor, as the case may be, under this Indenture with the same effect as if such successor Person had been named as the Company or the Guarantor 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 TEN 

SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS 

SECTION 10.1 Satisfaction and Discharge of Indenture. 

(a) Satisfaction and Discharge. (i) If at any time (A) the Company or the Guarantor shall have paid or caused to be paid
the principal of, interest on and any Additional Amounts on all the Securities of any Series Outstanding hereunder (other than Securities which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.9)
as and when the same shall have become due and payable, or (ii) the Company or the Guarantor shall have delivered to the Trustee for cancellation all Securities of any Series theretofore authenticated (other than any Securities of such Series
which have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.9) or (iii)(A) all the Securities of such Series not theretofore delivered to the Trustee for cancellation shall have become due and
payable, or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and (B) the Company or the
Guarantor shall have irrevocably deposited or caused to be deposited with the Trustee as trust funds the entire amount in the Currency required (other than moneys repaid by the Trustee or any Paying Agent to the Company or the Guarantor in
accordance with Section 10.4) or Government Obligations maturing as to principal and interest in such amounts and at such times as will ensure the availability of cash sufficient, in the opinion of a firm of independent certified public
accountants, to pay at Maturity or upon redemption all Securities of such Series (other than any Securities of such Series which shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in Section 2.9)
not theretofore delivered to the Trustee for cancellation, including principal, interest due or to become due and any Additional Amounts to such date of Maturity as the case may be, and if, in any such case, the Company or the Guarantor shall also
pay or cause to be paid all other sums payable hereunder by the Company or the Guarantor with respect to Securities of such Series and the Guarantee in respect thereof, then this Indenture shall cease to be of further effect with respect to
Securities of such Series (except as to (i) rights of registration of transfer and exchange, and the Company’s right of optional redemption, (ii) substitution of mutilated, defaced, destroyed, lost or stolen Securities,
(iii) rights of Holders to receive payments of principal thereof and interest thereon upon the original stated due dates therefor (but not upon acceleration) and remaining rights of the Holders to receive

  

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mandatory sinking fund payments, if any, (iv) the rights, powers, trusts, indemnities and immunities of the Trustee hereunder and (v) the rights of the Securityholders of such Series as
beneficiaries hereof with respect to the property so deposited with the Trustee payable to all or any of them), and, subject to Section 10.5, the Trustee, on demand of the Company accompanied by an Officers’ Certificate, or on demand of
the Guarantor accompanied by a Guarantor’s Officer’s Certificate, and an Opinion of Counsel and at the written request of and at the cost and expense of the Company and the Guarantor, shall execute instruments acknowledging such
satisfaction of and discharging this Indenture with respect to such Series; provided, that the rights of Holders of the Securities to receive amounts in respect of principal of, interest on and any Additional Amounts with respect to, the Securities
held by them shall not be delayed longer than required by then-applicable mandatory rules or policies of any securities exchange upon which the Securities are listed. The Company and the Guarantor each agree to reimburse the Trustee for any costs or
expenses thereafter reasonably and properly incurred and to compensate the Trustee for any services thereafter reasonably and properly rendered by the Trustee in connection with this Indenture, the Securities of such Series and the Guarantee in
respect thereof. 
 (b) Covenant Defeasance. 

(i) On and after the date the conditions set forth in clause (ii) below are satisfied (“covenant
defeasance”), the Company and the Guarantor shall be released from their respective obligations under Sections 3.4, 3.5, 3.6, 3.9, 3.10, 3.11, 4.3, 9.1(c), and, to the extent specified pursuant to Section 2.3 with respect to the Securities
of a particular Series, any other covenant applicable to such Series and Events of Default specified in Sections 5.1 (c),(d),(e),(f) or (i). For this purpose, such covenant defeasance means that, with respect to such Outstanding Securities, the
Company and the Guarantor may omit to comply with, and shall have no liability in respect of, any term, condition or limitation set forth in any such Section or such other covenant, whether directly or indirectly, by reason of any reference
elsewhere herein to any such Section or such other covenant or by reason of reference in any such Section or such other covenant to any other provision herein or in any other document and such omission to comply shall not constitute an Event of
Default under Section 5.1(c) or otherwise, as the case may be, but, except as specified above, the remainder of this Indenture, such Securities and the Guarantee in respect thereof shall be unaffected thereby. 

(ii) The following shall be the conditions to application of clause (i) above to any Outstanding Securities of or
within a Series: 
 (A) The Company or the Guarantor shall irrevocably have deposited or caused to be deposited
with the Trustee (or another Trustee satisfying the requirements of Section 6.9 who shall agree to comply with the provisions of this Section 10.1(b) applicable to it) as trust funds in trust for the purpose of making the following
payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities, (1) an amount in the required Currency in which such Securities are then specified as payable, or (2) Government
Obligations applicable to such Securities (determined on the basis of the Currency in which such Securities are then specified as payable) which through the scheduled payment of principal and interest in respect thereof

  

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in accordance with their terms will provide, not later than one day before the due date of any payment of principal of and interest, if any, on such Securities, money in an amount, or (3) a
combination thereof, in any case, in an amount, sufficient, without consideration of any reinvestment of such principal and interest, in the opinion of a nationally recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other qualifying Trustee) to pay and discharge, (y) the principal of, interest on and any Additional Amounts on such Outstanding
Securities at the Maturity (which may be a Redemption Date) of such principal or installment of principal or interest or any Additional Amounts and (z) any mandatory sinking fund payments or analogous payments applicable to such Outstanding
Securities on the days on which such payments are due and payable in accordance with the terms of this Indenture, of such Securities and the Guarantee in respect thereof; 

(B) such covenant defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture
or any other material agreement or instrument to which the Company or the Guarantor is a party or by which either of them is bound (other than a default under this Indenture arising from the borrowing of funds to make such deposit); 

(C) no Event of Default or event which with notice or lapse of time or both would become an Event of Default with respect
to such Securities shall have occurred and be continuing on the date of such deposit and at any time during the period ending on the 123rd day after the date of such deposit (it being understood that this condition shall not be deemed satisfied
until the expiration of such period); 
 (D) the Company or the Guarantor shall have delivered to the Trustee an
Opinion of Counsel to the effect that the Holders of such Outstanding Securities 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 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 covenant defeasance had not occurred; 

(E) the Company or the Guarantor shall have delivered to the Trustee an Opinion of Counsel to the effect that, after the
123rd day after the date of deposit, all money and Government Obligations (including the proceeds thereof) deposited or caused to be deposited with the Trustee (or other qualifying Trustee) pursuant to this clause (ii) to be held in trust will
not be subject to any case or proceeding (whether voluntary or involuntary) in respect of the Company or the Guarantor under any U.S. federal or state bankruptcy, insolvency, reorganization or other similar law, or any decree or order for relief in
respect of the Company or the Guarantor issued in connection therewith; 
 (F) the Company or the Guarantor shall
have delivered to the Trustee an Officers’ Certificate or Guarantor’s Officer’s Certificate, as the case may be, 

 

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and an Opinion of Counsel, each stating that all conditions precedent to the covenant defeasance under clause (b) of this Section 10.1 have been complied with; and 

(G) notwithstanding any other provisions of this Section 10.1(b), such defeasance shall be effected in compliance
with any additional or substitute terms, conditions or limitations which may be imposed on the Company or the Guarantor in connection therewith pursuant to Section 2.3. 

(c) Legal Defeasance. 

(i) On and after the date the conditions set forth in clause (ii) below are satisfied (“legal defeasance”),
the Company and the Guarantor shall be deemed to have been discharged from its obligations with respect to the Securities of any Series and this Indenture with respect to such Series. For this purpose, such legal defeasance means that the Company
and the Guarantor shall be deemed to have paid and discharged the entire Indebtedness represented by such Outstanding Securities which shall thereafter be deemed to be “Outstanding” only for the purposes of Section 10.1 and the other
Sections of this Indenture referred to in clauses (A) and (B) below, and to have satisfied all of its other obligations under such Securities, the Guarantee in respect thereof and this Indenture insofar as such Securities and the Guarantee
in respect thereof are concerned (and the Trustee, at the written request of and at the cost and expense of the Company and the Guarantor shall execute instruments acknowledging the same), except for the following which shall survive until otherwise
terminated or discharged hereunder: (i) the rights of Holders of such Outstanding Securities to receive, solely from the trust fund described in clause (ii)(A) and as more fully set forth in such clause, payments in respect of the principal of
and interest, if any, on, and Additional Amounts, if any, with respect to, such Securities when such payments are due, (ii) the obligations of the Company, the Guarantor and the Trustee with respect to such Securities under Sections 2.8, 2.9
and 3.2 and with respect to the payment of Additional Amounts, if any, on such Securities as contemplated by Section 3.7 (but only to the extent that the Additional Amounts payable with respect to such Securities exceed the amount deposited in
respect of such Additional Amounts pursuant to clause (ii)(A)), (iii) the rights, powers, trusts, immunities and indemnities of the Trustee hereunder, (iv) the rights of optional redemption and (v) this Article Ten. 

(ii) The following shall be the conditions to application of clause (i) above to any Outstanding Securities of or
within a Series: 
 (A) The Company or the Guarantor shall irrevocably have deposited or caused to be deposited
with the Trustee (or another Trustee satisfying the requirements of Section 6.9 who shall agree to comply with the provisions of this Section 10.1(c) applicable to it) as trust funds in trust for the purpose of making the following
payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities, (1) an amount in the required Currency in which such Securities are then specified as payable, or (2) Government
Obligations applicable to such Securities (determined on the basis of the Currency in which such Securities are then specified as payable) which 

 

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through the scheduled payment of principal, interest and any Additional Amounts in respect thereof in accordance with their terms will provide, not later than one day before the due date of any
payment of principal of and interest, if any, and any Additional Amounts, on such Securities, money in an amount, or (3) a combination thereof, in any case, in an amount, sufficient, without consideration of any reinvestment of such principal
and interest, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other
qualifying Trustee) to pay and discharge, (y) the principal of, interest on and any Additional Amounts on such Outstanding Securities at the Maturity (which may be a Redemption Date) of such principal or installment of principal or interest and
any Additional Amounts and (z) any mandatory sinking fund payments or analogous payments applicable to such Outstanding Securities on the days on which such payments are due and payable in accordance with the terms of this Indenture, of such
Securities and the Guarantee in respect thereof; 
 (B) such covenant defeasance shall not result in a breach or
violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which the Company or the Guarantor is a party or by which either of them is bound (other than a default under this Indenture arising from
the borrowing of funds to make such deposit); 
 (C) no Event of Default or event which with notice or lapse of
time or both would become an Event of Default with respect to such Securities shall have occurred and be continuing on the date of such deposit and at any time during the period ending on the 123rd day after the date of such deposit (it being
understood that this condition shall not be deemed satisfied until the expiration of such period); 
 (D) the
Company or the Guarantor shall have delivered to the Trustee an Opinion of Counsel stating that (i) the Company or the Guarantor has received from the Internal Revenue Service a letter ruling, or there has been published by the Internal Revenue
Service a revenue ruling, or (ii) since the date of execution of this Indenture, there has been a change in the applicable U.S. federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the
Holders of such Outstanding Securities will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such 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 defeasance had not occurred; 
 (E) the Company or the Guarantor shall
have delivered to the Trustee an Opinion of Counsel to the effect that, after the 123rd day after the date of deposit, all money and Government Obligations (including the proceeds thereof) deposited or caused to be deposited with the Trustee (or
other qualifying Trustee) pursuant to this clause (ii) to be held in trust will not be subject to any case or 
  

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proceeding (whether voluntary or involuntary) in respect of the Company or the Guarantor under any U.S. federal or state bankruptcy, insolvency, reorganization or other similar law, or any decree
or order for relief in respect of the Company or the Guarantor issued in connection therewith; 
 (F) the Company
or the Guarantor shall have delivered to the Trustee an Officers’ Certificate or a Guarantor’s Officer’s Certificate, as the case may be, and an Opinion of Counsel, each stating that all conditions precedent to the defeasance under
clause (c) of this Section 10.1 have been complied with; and 
 (G) notwithstanding any other
provisions of this Section 10.1(c), such defeasance shall be effected in compliance with any additional or substitute terms, conditions or limitations which may be imposed on the Company or the Guarantor in connection therewith pursuant to
Section 2.3. 
 SECTION 10.2 Application by Trustee of Funds Deposited for Payment of Securities. Subject to
Section 10.4, all moneys deposited with the Trustee pursuant to Section 10.1 shall be held in trust and applied by it to the payment, either directly or through any Paying Agent (including the Company or the Guarantor acting as its own
Paying Agent), to the Holders of the particular Securities of such Series for the payment or redemption of which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for principal and interest; but such money
need not be segregated from other funds except to the extent required by law. 
 SECTION 10.3 Repayment of Moneys Held by
Paying Agent. In connection with the satisfaction and discharge of this Indenture with respect to Securities of any Series, all moneys then held by any Paying Agent under the provisions of this Indenture with respect to such Series of Securities
shall, upon written demand of the Company or the Guarantor, be repaid to it or paid to the Trustee and thereupon such Paying Agent shall be released from all further liability with respect to such moneys. 

SECTION 10.4 Return of Unclaimed Moneys Held by Trustee and Paying Agent. Any moneys deposited with or paid to the Trustee or any
Paying Agent for the payment of the principal of or interest on any Security of any Series and not applied but remaining unclaimed for two years after the date upon which such principal, interest or any Additional Amounts shall have become due and
payable, shall, upon the written request of the Company or the Guarantor and unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company or the Guarantor, as the case may
be, by the Trustee or such Paying Agent for such Series, and the Holder of the Security of such Series shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to
the Company or the Guarantor, as the case may be, for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease. 

SECTION 10.5 Reinstatement of Company’s and Guarantor’s Obligations. If the Trustee is unable to apply any funds or
Government Obligations in accordance with Section 10.1 by reason of any legal proceeding or by reason of any order or judgment of any court or 

 

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governmental authority enjoining, restraining or otherwise prohibiting such application or by reason of the Trustee’s inability to convert any such funds or Government Obligations into the
Currency required to be paid with respect to the Securities of such Series, the Company’s and the Guarantor’s obligations under this Indenture and the Securities of any Series for which such application is prohibited shall be revived and
reinstated as if no deposit had occurred pursuant to Section 10.1 until such time as the Trustee is permitted to apply all such funds or Government Obligations in accordance with Section 10.1 or is able to convert all such funds or
Government Obligations; provided, however, that if the Company or the Guarantor has made any payment of interest on or principal of any of such Securities because of the reinstatement of either of its obligations, the Company or the
Guarantor, as the case may be, shall be subrogated to the rights of the Securityholders of such Securities to receive such payment from the funds or Government Obligations held by the Trustee. 

SECTION 10.6 Payments in Foreign Currencies. Unless otherwise specified in or pursuant to this Indenture or any Security, if,
after a deposit referred to in 10.1 has been made, (a) the Holder of a Security in respect of which such deposit was made is entitled to, and does, elect pursuant to Section 3.1 or the terms of such Security to receive payment in a
Currency other than that in which the deposit pursuant to Section 10.1 has been made in respect of such Security, or (b) a Conversion Event occurs in respect of the Foreign Currency in which the deposit pursuant to Section 10.1 has
been made, the indebtedness represented by such Security shall be deemed to have been, and will be, fully discharged and satisfied through the payment of the principal of, and interest, if any, on, and Additional Amounts, if any, with respect to,
such Security as the same becomes due out of the proceeds yielded by converting (from time to time as specified below in the case of any such election) the amount or other property deposited in respect of such Security into the Currency in which
such Security becomes payable as a result of such election or Conversion Event based on (x) in the case of payments made pursuant to clause (a) above, the applicable Market Exchange Rate for such Currency in effect on the second Business
Day prior to each payment date, or (y) with respect to a Conversion Event, the applicable Market Exchange Rate for such Foreign Currency in effect (as nearly as feasible) at the time of the Conversion Event. 

SECTION 10.7 Indemnification Against Taxes. The Company and the Guarantor shall pay and indemnify the Trustee (or other qualifying
Trustee, collectively for purposes of this Section 10.7 and Section 10.1, the “Trustee”) against any tax, fee or other charge, imposed on or assessed against the Government Obligations deposited pursuant to Section 10.1 or
the principal or interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of such Outstanding Securities. 

ARTICLE ELEVEN 

MISCELLANEOUS PROVISIONS 

SECTION 11.1 Incorporators, Stockholders, Officers and Directors of Company and Guarantor Exempt from Individual Liability. No
recourse under or upon any obligation, covenant or agreement contained in this Indenture, in any Security, or because of any indebtedness evidenced thereby, shall be had against any incorporator, as such or against any past, present or future
stockholder, member, partner, other owner of Capital Stock, officer or 
  

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director, as such, of the Company or the Guarantor or of any successor, either directly or through the Company, the Guarantor or any successor, under any rule of law, statute or constitutional
provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the acceptance of the Securities by the Holders thereof and as part of the
consideration for the issue of the Securities. 
 SECTION 11.2 Provisions of Indenture for the Sole Benefit of Parties and
Securityholders. Nothing in this Indenture or in the Securities, expressed or implied, shall give or be construed to give to any Person, firm or Corporation, other than the parties hereto, any Paying Agent and their successors hereunder and the
Holders of the Securities any legal or equitable right, remedy or claim under this Indenture or under any covenant or provision herein contained, all such covenants and provisions being for the sole benefit of the parties hereto and their successors
and of the Holders of the Securities. 
 SECTION 11.3 Successors and Assigns of Company and Guarantor Bound by Indenture.
All the covenants, stipulations, promises and agreements in this Indenture contained by or on behalf of each of the Company and the Guarantor shall bind their respective successors and assigns, whether so expressed or not. 

SECTION 11.4 Notices and Demands on Company, the Guarantor, Trustee and Securityholders. Any notice, request,
instruction, communication, direction or demand which by any provision of this Indenture is required or permitted to be given or served by the Trustee, by the Holders of Securities to the Company or the Guarantor shall be in English and in writing
and shall be given or served in person or by being deposited postage prepaid, first-class mail (except as otherwise specifically provided herein), by overnight courier or facsimile transmission addressed (until another address of the Company or the
Guarantor is filed by the Company or the Guarantor with the Trustee) to Alterra Finance LLC, c/o Alterra Capital Holdings Limited, Alterra House, 2 Front Street, Hamilton, HM 12, Bermuda, Attention: General Counsel with a copy to the Chief Financial
Officer. notice, request, instruction, communication, direction or demand by the Company or the Guarantor or any Securityholder to the Trustee shall be in English and in writing and delivered in person, overnight courier, via facsimile or by postage
pre-paid, first-class mail and shall be deemed to have been sufficiently given or made, for all purposes, if actually received at the Corporate Trust Office. Any facsimiles to the Trustee shall be sent to fax number (212) 815-5802 or
(212) 815-5803. 

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 by first-class mail, postage prepaid to such Holders as their names and addresses appear in the Security Register within the time prescribed. 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. In any case where notice to Holders is 
  

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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,
and any notice which is mailed in the manner herein provided shall be conclusively presumed to have been duly given. 
 In case,
by reason of the suspension of or irregularities in regular mail service, it shall be impracticable to mail notice to the Company, the Guarantor and Securityholders when such notice is required to be given pursuant to any provision of this
Indenture, then any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice. 

In respect of this Indenture, the Trustee shall not have any duty or obligation to verify or confirm that the Person sending
instructions, directions, reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such instructions, directions, reports, notices or other communications or information on behalf of
the party purporting to send such electronic transmission; and the Trustee shall not have any liability for any losses, liabilities, costs or expenses incurred or sustained by any party as a result of such reliance upon or compliance with such
instructions, directions, reports, notices or other communications or information. Each other party agrees to assume all risks arising out the use of electronic methods to submit instructions, directions, reports, notices or other communications or
information to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, notices or other communications or information, and the risk of interception and misuse by third parties. 

SECTION 11.5 Officers’ Certificates and Opinions of Counsel; Statements to Be Contained Therein. Upon any application or
demand by the Company or the Guarantor to the Trustee to take any action under any of the provisions of this Indenture, the Company or the Guarantor shall furnish to the Trustee an Officers’ Certificate or Guarantor’s Officer’s
Certificate, as the case may be, stating that all conditions precedent provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions
precedent have been complied with, except that in the case of any such application or demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or demand,
no additional certificate or opinion need be furnished. 
 Each certificate or opinion provided for in this Indenture (except
for the certificates specified in Sections 3.8 and 3.9) and delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include (a) a statement that the Person making such certificate or
opinion has read such covenant or condition, (b) 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, (c) a statement
that, in the opinion of such Person, such Person has made such examination or investigation as is necessary to enable such Person to express an informed opinion as to whether or not such covenant or condition has been complied with and (d) a
statement as to whether or not, in the opinion of such Person, such condition or covenant has been complied with. 
  

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

 Any certificate, statement or opinion of an Officer of the Company or the Guarantor or of counsel may be based, insofar as it
relates to accounting matters, upon a certificate or opinion of or representations by an accountant or firm of accountants in the employ of the Company or the Guarantor, unless such Officer or counsel, as the case may be, knows that the certificate
or opinion or representations with respect to the accounting matters upon which his certificate, statement or opinion may be based as aforesaid are erroneous, or in the exercise of reasonable care should know that the same are erroneous. 

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 as to such matters in one or several
documents. 
 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. 

Any certificate or opinion of any independent firm of public accountants filed with the Trustee shall contain a statement that such firm
is independent. 
 SECTION 11.6 Payments Due on Saturdays, Sundays and Holidays. Unless otherwise specified in the
certificate representing the Securities of a Series, the date of Maturity of interest on or principal of the Securities of any Series or the date fixed for redemption or repayment of any such Security shall not be a Business Day, then payment of
interest or principal need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the date of Maturity or the date fixed for redemption, and no interest shall accrue for the period
after such date. 
 SECTION 11.7 Conflict of Any Provision of Indenture with Trust Indenture Act of 1939. If this
Indenture has been qualified under the Trust Indenture Act with respect to a particular Series of Securities, and to the extent that any provision of this Indenture, with respect to said Series of Securities, limits, qualifies or conflicts with
another provision included in this Indenture which is required to be included herein by any of Sections 310 to 317, inclusive, of the Trust Indenture Act, such required provision shall control with respect to such Series of Securities. 

 

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 SECTION 11.8 New York Law to Govern; Submission to Jurisdiction; Waiver of Trial by
Jury. This Indenture and each Security shall be deemed to be a contract under the laws of the State of New York, and for all purposes shall be construed in accordance with the laws of such State. 

Each of the Company and the Guarantor submits to the jurisdiction of the courts of the State of New York and the courts of the United
States, in each case located in the Borough of Manhattan, The City of New York and State of New York over any suit, action or proceeding arising under or in connection with this Indenture, the Securities, the Guarantee or the transactions
contemplated hereby or the Securities. Each of the Company and the Guarantor waives any objection that it may have to the venue of any suit, action or proceeding arising under or in connection with this Indenture, the Securities, the Guarantee or
the transactions contemplated hereby, in the courts of the State of New York or the courts of the United States, in each case located in the Borough of Manhattan, The City of New York and State of New York, or that such suit, action or proceeding
brought in the courts of the State of New York or the courts of the United States, in each case located in the Borough of Manhattan, The City of New York and State of New York, was brought in an inconvenient court and agrees not to plead or claim
the same. 
 Each of the Company and Guarantor agrees that service of all writs, process and summonses in any suit, action or
proceeding arising under or in connection with this Indenture, the Securities, the Guarantee or the transactions contemplated hereby against the Company or Guarantor in any court of the State of New York or any United States Federal court, in each
case, sitting in the Borough of Manhattan, City and State of New York, may be made upon the CT Corporation System at 111 Eighth Avenue, New York, New York 10011, whom the Company and the Guarantor irrevocably appoints as its authorized agent for
service of process. Each of the Company and the Guarantor represents and warrants that the CT Corporation System has agreed to act as the Company’s and Guarantor’s agent for service of process. Each of the Company and the Guarantor agrees
that such appointment shall be irrevocable until the irrevocable appointment by the Company and Guarantor of a successor in The City of New York as its authorized agent for such purpose and the acceptance of such appointment by such successor. Each
of the Company and Guarantor further agrees to take any and all action, including the filing of any and all documents and instruments that may be necessary to continue such appointment in full force and effect as aforesaid. If the CT Corporation
System shall cease to act as the agent for service of process for the Company and the Guarantor, the Company and the Guarantor shall appoint without delay, another such agent and provide prompt written notice to the Trustee of such appointment.

 EACH PARTY HERETO, AND EACH HOLDER OF A SECURITY BY ACCEPTANCE THEREOF, HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY

  

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APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS INDENTURE, THE SECURITIES OR THE
GUARANTEE. 
 SECTION 11.9 Counterparts. This Indenture may be executed in any number of counterparts, each of which
shall be an original; but such counterparts shall together constitute but one and the same instrument. 
 SECTION 11.10
Effect of Headings. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

SECTION 11.11 Determination of Principal Amount. In determining whether the Holders of the requisite principal amount of
Outstanding Securities of any Series have given any request, demand, authorization, direction, notice, consent or waiver hereunder, whether a quorum is present at a meeting of Holders of Securities or whether sufficient funds are available for
redemption or for any other purpose, the principal amount of an Original Issue Discount Security that shall be deemed to be Outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of
such determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 5.1 and the principal amount of any Securities denominated in a Foreign Currency that shall be deemed to be Outstanding for such purposes shall be
determined by the Company and notified to the Trustee in writing by converting the Foreign Currency into Dollars at the Market Exchange Rate as of the date of such determination. 

ARTICLE TWELVE 

REDEMPTION OF SECURITIES AND SINKING FUNDS 

SECTION 12.1 Applicability of Article. The provisions of this Article shall be applicable to the Securities of any Series which
are redeemable before their Maturity or to any sinking fund for the retirement of Securities of a Series except as otherwise specified as contemplated by Section 2.3 for Securities of such Series. 

SECTION 12.2 Notice of Redemption; Partial Redemptions. Notice of redemption to the Holders of Securities of any Series to be
redeemed as a whole or in part at the option of the Company shall be given by giving notice of such redemption as provided in Section 11.4, at least 30 days and not more than 60 days prior to the date fixed for redemption to such Holders of
Securities of such Series. Failure to give notice by mail, or any defect in the notice to the Holder of any Security of a Series designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of
any other Security of such Series. 
 The notice of redemption to each such Holder shall identify the Securities to be redeemed
(including “CUSIP” or “ISIN” numbers), specify the Redemption Date, the redemption price, the Place or Places of Payment, that payment will be made upon presentation and surrender of such Securities, and that such redemption is
pursuant to the mandatory or optional sinking fund, or both, if such be the case, or for tax or other reasons that interest accrued to the date fixed for redemption will be paid as specified in such notice and that on and after said date interest
thereon or on the portions thereof to be redeemed will cease to accrue and that, if less than all of the Outstanding Securities of a 

 

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Series are to be redeemed, the identification and principal amount of the Securities to be redeemed. If less than all of the Securities of any Series are to be redeemed, the notice of redemption
shall specify the numbers of the Securities of such Series to be redeemed. In case any Security of a Series is to be redeemed in part, the notice of redemption shall state the portion of the principal amount thereof to be redeemed and shall state
that on and after the date fixed for redemption, upon surrender of such Security, a new Security or Securities of such Series in principal amount equal to the unredeemed portion thereof will be issued. 

The notice of redemption of Securities of any Series to be redeemed at the option of the Company shall be given by the Company or, at the
Company’s request, by the Trustee in the name and at the expense of the Company. The Company shall give the Trustee at least 45 days prior written notice of any redemption hereunder (unless a shorter notice shall be satisfactory to the
Trustee). 
 Not later than 10:00 a.m., New York time, on the Redemption Date specified in the notice of redemption given as
provided in this Section, the Company will have on deposit with the Trustee or with one or more Paying Agents (or, if the Company is acting as its own Paying Agent, will set aside, segregate and hold in trust as provided in Section 3.4) an
amount of money in the Currency in which the Securities of such Series are payable (except as otherwise specified pursuant to Section 2.3 and except as provided in Sections 2.12(b), (d) and (e) of this Indenture) sufficient to redeem
on the Redemption Date all the Securities of such Series so called for redemption at the appropriate redemption price, together with accrued interest to the date fixed for redemption. If less than all the Outstanding Securities of a Series are to be
redeemed, the Company will deliver to the Trustee at least 45 days prior to the date fixed for redemption an Officers’ Certificate stating the aggregate principal amount of Securities to be redeemed. 

If less than all the Securities of a Series are to be redeemed, the Trustee shall select, in such manner as it shall deem appropriate and
fair, Securities of such Series to be redeemed in whole or in part. Securities may be redeemed in part equal to the minimum authorized denomination for Securities of such Series or any integral multiple in excess thereof. The Trustee shall promptly
notify the Company in writing of the Securities of such Series selected for redemption and, in the case of any Securities of such Series 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 of any Series shall relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such
Security which has been or is to be redeemed. 
 SECTION 12.3 Payment of Securities Called for Redemption. If notice of
redemption has been given as above provided, the Securities or portions of Securities specified in such notice shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with interest
accrued to the Redemption Date, and on and after said date (unless the Company shall default in the payment of such Securities at the redemption price, together with interest accrued to said date) interest on the Securities or portions of Securities
so called for redemption shall cease to accrue and, except as provided in Sections 6.5 and 10.4, such Securities shall cease from and after the date fixed for redemption to be entitled to any benefit or security under this Indenture, and the Holders
thereof shall have no right in respect of such Securities except the right to receive the redemption price thereof and 

 

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unpaid interest to the date fixed for redemption. On presentation and surrender of such Securities at a Place of Payment specified in said notice, said Securities or the specified portions
thereof shall be paid and redeemed by the Company at the applicable redemption price, together with interest accrued thereon to the date fixed for redemption; provided that any semi-annual payment of interest on Securities becoming due on the
date fixed for redemption shall be payable to the Holders of such Securities registered as such on the relevant record date subject to the terms and provisions of Section 2.4 hereof. 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal shall, until paid or duly
provided for, bear interest from the date fixed for redemption at the rate of interest borne by the Security. 
 Upon
presentation of any Security redeemed in part only, the Company shall execute and the Trustee shall authenticate and deliver to or on the order of the Holder thereof, at the expense of the Company, a new Security or Securities, of authorized
denominations, in principal amount equal to the unredeemed portion of the Security so presented. 
 SECTION 12.4 Exclusion of
Certain Securities from Eligibility for Selection for Redemption. Securities shall be excluded from eligibility for selection for redemption if they are identified by registration and certificate number in an Officers’ Certificate and
delivered to the Trustee at least 40 days prior to the last date on which notice of redemption may be given as being owned of record and beneficially by, and not pledged or hypothecated by, either (a) the Company, (b) the Guarantor or
(c) an entity specifically identified in such written statement directly or indirectly controlling or controlled by or under direct or indirect common control with the Company. 

SECTION 12.5 Mandatory and Optional Sinking Funds. 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.” The date on which a sinking fund payment is to be made is herein referred to as the “sinking fund payment date.” 

In lieu of making all or any part of any mandatory sinking fund payment with respect to any Series of Securities in cash, the Company or
the Guarantor may at its option (a) deliver to the Trustee Securities of such Series theretofore purchased or otherwise acquired (except upon redemption pursuant to the mandatory sinking fund) by the Company or the Guarantor or receive credit
for Securities of such Series (not previously so credited) theretofore purchased or otherwise acquired (except as aforesaid) by the Company or the Guarantor and delivered to the Trustee for cancellation pursuant to Section 2.10,
(b) receive credit for optional sinking fund payments (not previously so credited) made pursuant to this Section, or (c) receive credit for Securities of such Series (not previously so credited) redeemed by the Company or the Guarantor
through any optional redemption provision contained in the terms of such Series. Securities so delivered or credited shall be received or credited by the Trustee at the sinking fund redemption price specified in such Securities. 

 

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 On or before the forty-fifth day next preceding each sinking fund payment date for any
Series of Securities, the Company or the Guarantor will deliver to the Trustee a written statement (which need not contain the statements required by Section 11.5) signed by an Officer of the Company or the Guarantor, as the case may be,
(a) specifying the portion of the mandatory sinking fund payment to be satisfied by payment of cash in the Currency in which the Securities of such Series are payable (except as otherwise specified pursuant to Section 2.3 for the
Securities of such Series and except as provided in Section 2.12(b), (d) and (e) hereof), and the portion to be satisfied by credit of Securities of such Series, (b) stating that none of the Securities of such Series has
theretofore been so credited, (c) stating that no defaults in the payment of interest or Events of Default with respect to such Series have occurred (which have not been waived or cured) and are continuing, (d) stating whether or not the
Company or the Guarantor, as the case may be, intends to exercise its right to make an optional sinking fund payment with respect to such Series and, if so, specifying the amount of such optional sinking fund payment which the Company or the
Guarantor, as the case may be, intends to pay on or before the next succeeding sinking fund payment date and (e) specifying such sinking fund payment date. Any Securities of such Series to be credited and required to be delivered to the Trustee
in order for the Company or the Guarantor, as the case may be, to be entitled to credit therefor as aforesaid which have not theretofore been delivered to the Trustee shall be delivered for cancellation pursuant to Section 2.10 to the Trustee
with such written statement on or before said forty-fifth day (or reasonably promptly thereafter if acceptable to the Trustee). Such written statement shall be irrevocable and upon its receipt by the Trustee the Company and the Guarantor shall
become unconditionally obligated to make all the cash payments or payments therein referred to, if any, on or before the next succeeding sinking fund payment date. Failure of the Company or the Guarantor, on or before any such forty-fifth day, to
deliver such written statement and Securities specified in this paragraph, if any, shall not constitute a default but shall constitute, on and as of such date, the irrevocable election of the Company or the Guarantor (i) that the mandatory
sinking fund payment for such Series due on the next succeeding sinking fund payment date shall be paid entirely in cash (in the Currency described above) without the option to deliver or credit Securities of such Series in respect thereof and
(ii) that the Company or the Guarantor will make no optional sinking fund payment with respect to such Series as provided in this Section. 

If the sinking fund payment or payments (mandatory or optional or both) to be made in cash (in the Currency described above) on the next
succeeding sinking fund payment date plus any unused balance of any preceding sinking fund payments made in cash shall exceed $100,000, or the equivalent in the Currency in which the Securities of such Series are payable (or a lesser sum if the
Company or the Guarantor shall so request) with respect to the Securities of any particular Series, such cash shall be applied on the next succeeding sinking fund payment date to the redemption of Securities of such Series at the sinking fund
redemption price together with accrued interest to the date fixed for redemption. If such amount shall be $100,000, or the equivalent in the Currency in which the Securities of such Series are payable, or less and the Company or the Guarantor makes
no such request then it shall be carried over until a sum in excess of $100,000, or the equivalent in the Currency in which the Securities of such Series are payable, is available. The Trustee shall select, in the manner provided in
Section 12.2, for redemption on such sinking fund payment date a sufficient principal amount of Securities of such Series to absorb said cash, as nearly as may be possible, and shall (if requested in writing by the Company or the Guarantor)
inform the Company or the Guarantor of the serial numbers of the Securities of such Series (or portions thereof) so selected. Securities of any Series which are 

 

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identified by registration and certificate number in an Officers’ Certificate at least 45 days prior to the sinking fund payment date as being beneficially owned by, and not pledged or
hypothecated by, the Company, the Guarantor or an entity directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or the Guarantor shall be excluded from Securities of such Series eligible for
selection for redemption. The Company or the Guarantor (or the Trustee, in the name and at the expense of the Company or the Guarantor if it shall so request of the Trustee in writing) shall cause notice of redemption of the Securities of such
Series to be given in substantially the manner provided in Section 12.2 (and with the effect provided in Section 12.3) for the redemption of Securities of such Series in part at the option of the Company. The amount of any sinking fund
payments not so applied or allocated to the redemption of Securities of such Series shall be added to the next cash sinking fund payment for such Series and, together with such payment, shall be applied in accordance with the provisions of this
Section. Any and all sinking fund moneys held on the Stated Maturity date of the Securities of any particular Series (or earlier, if such Maturity is accelerated), which are not held for the payment or redemption of particular Securities of such
Series shall be applied, together with other moneys, if necessary, sufficient for the purpose, to the payment of the principal of, and interest on, the Securities of such Series at Maturity. 

The Trustee shall not convert any Currency in which the Securities of such Series are payable for the purposes of such sinking fund
application unless specifically requested to do so by the Company or the Guarantor, and any such conversion agreed to by the Trustee in response to such request shall be for the account and at the expense of the Company or the Guarantor and shall
not affect the Company’s or the Guarantor’s obligation to pay the Holders in the Currency to which such Holder may be entitled. 

Not later than 10:00 a.m., New York time, on the sinking fund payment date, the Company or the Guarantor shall have paid to the Trustee
in cash (in the Currency described in the third paragraph of this Section 12.5) or shall otherwise provide for the payment of all interest accrued to the date fixed for redemption on Securities to be redeemed on the next following sinking fund
payment date. 
 The Trustee shall not redeem or cause to be redeemed any Securities of a Series with sinking fund moneys or
mail or publish any notice of redemption of Securities for such Series by operation of the sinking fund during the continuance of a default in payment of interest on such Securities or of any Event of Default except that, where the mailing or
publication of notice of redemption of any Securities shall theretofore have been made, the Trustee shall redeem or cause to be redeemed such Securities, provided that it shall have received from the Company or the Guarantor a sum sufficient for
such redemption in immediately available funds. Except as aforesaid, any moneys in the sinking fund for such Series at the time when any such Event of Default shall occur, and any moneys thereafter paid into the sinking fund, shall, during the
continuance of such Event of Default, be deemed to have been collected under Article Five and held for the payment of all such Securities. In case such Event of Default shall have been waived as provided in Section 5.10 or the default cured on
or before the forty-fifth day preceding the sinking fund payment date in any year, such moneys shall thereafter be applied on the next succeeding sinking fund payment date in accordance with this Section to the redemption of such Securities.

  

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 SECTION 12.6 Repayment at the Option of the Holders. Securities of any Series which
are repayable at the option of the Holders thereof before their Stated Maturity shall be repaid in accordance with the terms of the Securities of such Series. 

The repayment of any principal amount of Securities pursuant to such option of the Holder to require repayment of Securities before their
Stated Maturity, for purposes of Section 10.1, shall not operate as a payment, redemption or satisfaction of the Indebtedness represented by such Securities unless and until the Company or the Guarantor, at its option, shall deliver or
surrender the same to the Trustee with a directive that such Securities be cancelled. 
 SECTION 12.7 Optional Redemption For
Tax Reasons. The Company shall be entitled to redeem all, but not part, of the Securities of any Series if as a result of any change in or amendment to the laws, including any regulations promulgated thereunder, of the Relevant Tax Jurisdiction
or any change in or amendment to any official position regarding the application or interpretation of such laws or regulations (a “Change in Tax Law”), the Payor is or would be required on the occasion of the next payment of principal or
interest in respect of the Securities of such Series to pay Additional Amounts pursuant to Section 3.4 and the payment of such Additional Amounts cannot be avoided by the use of any reasonable measures available to the Payor. The Change in Tax
Law must be announced and become effective (i) in the case of the Guarantor, after the original issue date with respect to the Securities of such Series and (ii) in the case of any successor to the Guarantor or the Company, after the date
such successor became the successor to the Guarantor or the Company, as the case may be. Notwithstanding anything to the contrary contained in this Article Twelve, the Company must (i) deliver to the Trustee at least 30 days before the
Redemption Date an Officers’ Certificate and an opinion of independent legal counsel of recognized standing to the effect that the Payor has or will become obligated to pay Additional Amounts as a result of such Change in Tax Law and
(ii) provide the Holders with notice of the intended redemption at least 30 days and no more than 60 days before the redemption date. The redemption price will equal (subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment) the principal amount of the Securities of such Series plus accrued interest to the Redemption Date. 

ARTICLE THIRTEEN 

GUARANTEE AND INDEMNITY 

SECTION 13.1 The Guarantee. 

(a) The Guarantor hereby unconditionally guarantees to each Holder of a Security authenticated and delivered by the Trustee the due and
punctual payment of the principal of, any premium and interest on, and any Additional Amounts with respect to such Security and the due and punctual payment of the sinking fund payments (if any) provided for pursuant to the terms of such Security
and any other amounts due under this Indenture, when and as the same shall become due and payable, whether at Maturity, by acceleration, redemption, repayment or otherwise, in accordance with the terms of such Security and of this Indenture. In case
of the failure of the Company punctually to pay any such principal, premium, interest, Additional Amounts, sinking fund payment or other amount, the Guarantor hereby agrees to cause any such payment to be made punctually when and as the same shall
become due and payable, whether at Maturity, upon acceleration, redemption, repayment or otherwise, and as if such payment were made by the Company. The aforesaid Guarantee is one of payment and not of collection. 

 

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 (b) The Guarantor’s obligations hereunder shall rank pari passu with all other
senior unsecured debt obligations of the Guarantor (other than any obligations preferred by statute or by operation of law). 

(c) The Guarantor’s obligation under Section 13.1(a) shall terminate if and when the Company ceases to be a Subsidiary of the
Guarantor; provided, however, that immediately prior to such termination, the Guarantor shall automatically assume, without any action by the Holders or the Trustee or any further action on behalf of the Guarantor, the due and punctual
payment of the principal of, any premium and interest on and any Additional Amounts with respect to all the Securities and the performance of every obligation in this Indenture and the Outstanding Securities on the part of the Company to be
performed or observed with the same effect as if the Guarantor had been named as an issuer herein. Upon such an assumption, the Guarantor shall execute a supplemental indenture evidencing its assumption of all such rights and obligations of the
Company, and the Company shall be released from its liabilities hereunder and under such Securities as obligor on the Securities of such Series. 

(d) The Guarantor may, without the consent of the Holders, assume all of the rights and obligations of the Company hereunder with respect
to a Series of Securities and under the Securities of such Series if, after giving effect to such assumption, no Event of Default or event which with the giving of notice or lapse of time, or both, would become an Event of Default, shall have
occurred and be continuing. Upon such an assumption, the Guarantor shall execute a supplemental indenture evidencing its assumption of all such rights and obligations of the Company and the Company shall be released from its liabilities hereunder
and under such Securities as obligor on the Securities of such Series. 
 (e) The Guarantor shall assume all of the rights and
obligations of the Company hereunder with respect to a Series of Securities and under the Securities of such Series if, upon a default by the Company in the due and punctual payment of the principal of, any premium and interest on and any Additional
Amounts with respect to all such Securities, the Guarantor is prevented by any court order or judicial proceeding from fulfilling its obligations under Section 13.1(a) with respect to such Series of Securities. Such assumption shall result in
the Securities of such Series becoming the direct obligations of the Guarantor and shall be effected without the consent of the Holders of the Securities of any Series. Upon such an assumption, the Guarantor shall execute a supplemental indenture
evidencing its assumption of all such rights and obligations of the Company, and the Company shall be released from its liabilities hereunder and under such Securities as obligor on the Securities of such Series. 

SECTION 13.2 Guarantee Unconditional, etc. The Guarantor hereby agrees that its obligations hereunder shall be as principal and
not merely as surety, and shall be absolute, irrevocable and unconditional, irrespective of, and shall be unaffected by, any invalidity, irregularity or unenforceability of any Security or this Indenture, any failure to enforce the provisions of any
Security or this Indenture, or any waiver, modification, consent or indulgence granted with respect thereto by the Holder of such Security or the Trustee, the recovery of any judgment against the Company or any action to enforce the same, or any
other circumstances 
  

 81 

 
which may otherwise constitute a legal or equitable discharge of a surety or guarantor. The Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the
event of merger, insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest or notice with respect to any such Security or the Indebtedness evidenced thereby and all demands whatsoever, and
covenants that this Guarantee will not be discharged except by payment in full of the principal of, any premium and interest on, and any Additional Amounts and sinking fund payments required with respect to, the Securities and the complete
performance of all other obligations contained in the Securities. The Guarantor further agrees, to the fullest extent that it lawfully may do so, that, as between the Guarantor, on the one hand, and the Holders and the Trustee, on the other hand,
the Maturity of the obligations guaranteed hereby may be accelerated as provided in Section 5.1 hereof for the purposes of this Guarantee, notwithstanding any stay, injunction or prohibition extant under any bankruptcy, insolvency,
reorganization or other similar law of any jurisdiction preventing such acceleration in respect of the obligations guaranteed hereby. 

SECTION 13.3 Limitation on Liability. The Guarantor, and by its acceptance of Securities of any series, each Holder, hereby
confirms that it is the intention of all such parties that the Guarantee not constitute a fraudulent transfer or conveyance for purposes of the United State Bankruptcy Code or any similar law to the extent applicable to any Guarantee. Any term of
provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the obligations guaranteed hereunder by the Guarantor shall not exceed the maximum amount that can be hereby guaranteed without rendering this Indenture, as
it relates to the Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. 

SECTION 13.4 Reinstatement. This Guarantee shall continue to be effective or be reinstated, as the case may be, if at any time
payment on any Security, in whole or in part, is rescinded or must otherwise be restored to the Company or the Guarantor upon the bankruptcy, liquidation or reorganization of the Company or otherwise. 

SECTION 13.5 Subrogation. The Guarantor shall be subrogated to all rights of the Holder of any Security against the Company in
respect of any amounts paid to such Holder by the Guarantor pursuant to the provisions of this Guarantee; provided, however, that the Guarantor shall not be entitled to enforce, or to receive any payments arising out of or based upon,
such right of subrogation until the principal of, any premium and interest on, and any Additional Amounts and sinking fund payments required with respect to, all Securities shall have been paid in full. 

SECTION 13.6 Indemnity. As a separate and alternative stipulation, the Guarantor unconditionally and irrevocably agrees that any
sum expressed to be payable by the Company under this Indenture, the Securities but which is for any reason (whether or not now known or becoming known to the Company, the Guarantor, the Trustee or any Holder of any Security) not recoverable from
the Guarantor on the basis of the Guarantee will nevertheless be recoverable from it as if it were the sole principal debtor and will be paid by it to the Trustee on demand. This indemnity constitutes a separate and independent obligation from the
other obligations in this Indenture, gives rise to a separate and independent cause of action and will apply irrespective of any indulgence granted by the Trustee or any Holder of any Security. 

 

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 [signature page follows] 

 

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

			
	 ALTERRA FINANCE LLC,

    as Issuer

		
	By:	 	  

		 	Name:
		 	Title:
	
	 ALTERRA CAPITAL HOLDINGS LIMITED,

    as Guarantor

		
	By:	 	  

		 	Name:
		 	Title:
	
	 THE BANK OF NEW YORK MELLON

    as Trustee, Paying Agent and Registrar

		
	By:	 	  

		 	Name:
		 	Title:

  

 S-1

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