Document:

Articles of Incorporation

 Exhibit 4.1 
 ARTICLES OF INCORPORATION 
 OF 
 MITSUBISHI UFJ FINANCIAL GROUP, Inc. 
 CHAPTER I. 
 GENERAL PROVISIONS 
 (Trade Name) 
 Article 1. 
 The Company shall be called
“Kabushiki Kaisha Mitsubishi UFJ Financial Group” and shall be called in English “Mitsubishi UFJ Financial Group, Inc.” (hereinafter referred to as the “Company”). 
 (Purpose) 
 Article 2. 
 The purpose of the Company shall be to engage in the following businesses as a bank holding company: 
  

	 	1.	Administration of management of banks, trust banks, specialized securities companies, insurance companies or other companies which the Company may own as its subsidiaries under the
Banking Law; and 

  

	 	2.	Any other businesses incidental to the foregoing businesses mentioned in the preceding item. 

 (Location of Head Office) 
 Article 3. 
 The Company shall have its head office in Chiyoda-ku, Tokyo. 
 (Method of Public Notice) 
 Article 4. 
 Public notices of the Company shall be given in the Nihon Keizai Shimbun. 
 CHAPTER II.

 SHARES 
 (Total Number of Shares
Authorized to be Issued) 
 Article 5. 
 The aggregate number of shares authorized to be issued by the Company shall be thirty-four million six hundred twenty thousand eight (34,620,008) shares, the details of which shall be as set forth below; provided, however, that if any
number of the shares are cancelled or any number of Class 6 Preferred Shares through Class 12 Preferred Shares are converted into Ordinary Shares, such number shall be deducted accordingly from the relevant number of shares authorized to be issued.

  

 1 

			
	 Ordinary Shares:
	 	 thirty-three million (33,000,000) shares

		
	 Class 3 Preferred Shares:
	 	 one hundred twenty thousand (120,000) shares

		
	 Class 5 Preferred Shares:
	 	 four hundred thousand (400,000) shares

		
	 Class 6 Preferred Shares:
	 	 two hundred thousand (200,000) shares

		
	 Class 7 Preferred Shares:
	 	 two hundred thousand (200,000) shares

		
	 Class 8 Preferred Shares:
	 	 two hundred thousand (200,000) shares

		
	 Class 9 Preferred Shares:
	 	 one hundred fifty thousand (150,000) shares

		
	 Class 10 Preferred Shares:
	 	 one hundred fifty thousand (150,000) shares

		
	 Class 11 Preferred Shares:
	 	 eight (8) shares

		
	 Class 12 Preferred Shares:
	 	 two hundred thousand (200,000) shares

 (Purchase of Own Shares) 
 Article 6. 
  

	1.	The company may purchase its own Ordinary Shares by resolution of the Board of Directors. 

  

	2.	If the Company purchases its own Ordinary Shares and/or any class of Preferred Shares by resolution of an ordinary general meeting of shareholders, such purchase may be made in
respect of any of one or more classes of the shares. In case of such purchase, shareholders who hold shares other than those being subject to the relevant purchase are not entitled to make a request as provided for by Article 210, Paragraph 7 of the
Commercial Code. 

  

	3.	If the Company cancels its own Ordinary Shares and/or any class of Preferred Shares, such cancellation may be made in respect of any of one or more classes of the shares.

 (Record Date) 
 Article 7.

  

	1.	The Company shall deem the shareholders (including beneficial shareholders; the same shall apply hereinafter) whose names have been entered or recorded in the latest register of
shareholders (including the register of beneficial shareholders; the same shall apply hereinafter) as of March 31 of each year to be the shareholders who are entitled to exercise their rights at the ordinary general meeting of shareholders for
the relevant fiscal term. 

  

	2.	In addition to the above, whenever necessary, the Company may, upon giving prior public notice, fix a date as a record date and may deem the shareholders or registered pledgees
whose names have been entered or recorded in the latest register of shareholders as of such date, or the fractional shareholders whose names have been entered or recorded in the latest ledger of fractional shares as of such date, as the
shareholders, the registered pledgees or the fractional shareholders entitled to exercise their rights. 

 (Request for Sale of Fractional
Shares) 
 Article 8. 
  

	1.	A fractional shareholder may request that the Company sell to such fractional shareholder fractional shares which shall become one (1) share if combined with the fractional
shares already held by such fractional shareholder. 

  

	2.	In case of a request provided for in the preceding paragraph, the Company may refuse the request if the Company does not own fractional shares to be sold to such fractional
shareholder. 

  

 2 

 (Transfer Agent) 
 Article 9. 
  

	1.	The Company shall have a transfer agent for its shares and fractional shares. 

  

	2.	The transfer agent and its handling office shall be designated by resolution of the Board of Directors, and public notice thereof shall be given. 

  

	3.	The register of shareholders, the ledger of fractional shares and the register of lost share certificates of the Company shall be kept at the handling office of the transfer agent.
The registration of transfer of shares, the registration of pledges on shares, the entries or records in the register of beneficial shareholders and in the register of lost share certificates as well as in the ledger of fractional shares, the
purchase of fractional shares by the Company and the purchase of additional fractional shares by fractional shareholders, and any other businesses with respect to shares and fractional shares shall be handled by the transfer agent and not by the
Company. 

 (Share Handling Regulations) 
 Article 10. 
 The denomination of share certificates to be issued by the Company, the registration of transfers of shares,
the registration of pledges on shares, the entries or records in the register of beneficial shareholders and in the register of lost share certificates as well as in the ledger of fractional shares, the purchase of fractional shares by the Company
and the purchase of additional fractional shares by fractional shareholders, and any other handling with respect to shares and fractional shares as well as the fees therefor shall be governed by the Share Handling Regulations established by the
Board of Directors. 
 CHAPTER III 
 PREFERRED SHARES 
 (Preferred Dividends) 
 Article 11. 
  

	1.	The Company shall pay dividends on Preferred Shares (hereinafter referred to as the “Preferred Dividends”) in such respective amount as prescribed below to the holders of
Preferred Shares (hereinafter referred to as the “Preferred Shareholders”) or registered pledgees who hold pledges over Preferred Shares (hereinafter referred to as the “Registered Preferred Pledgees”), whose names have been
entered or recorded in the latest register of shareholders as of March 31 of each year, with priority over the holders of Ordinary Shares (hereinafter referred to as the “Ordinary Shareholders”), registered pledgees who hold pledges
over Ordinary Shares (hereinafter referred to as the “Registered Ordinary Pledgees”) or holders of fractional Ordinary Shares (hereinafter referred to as the “Fractional Ordinary Shareholders”); provided, however, that in the
event that the Preferred Interim Dividends provided for in Article 12 hereof have been paid in the relevant business year, the amount so paid shall be deducted accordingly from the amount of the Preferred Dividends set forth below for each relevant
class of Preferred Shares. 

  

			
	Class 3 Preferred Shares:	 	Amount to be determined by resolution of the Board of Directors adopted at the time of issuance of the Class 3 Preferred Shares, up to two hundred fifty thousand (250,000) yen per share per
year
		
	Class 5 Preferred Shares:	 	Amount to be determined by resolution of the Board of Directors adopted at the time of issuance of the Class 5 Preferred Shares, up to two hundred fifty thousand (250,000) yen per share per
year

  

 3 

			
		
	Class 6 Preferred Shares:	 	Amount to be determined by resolution of the Board of Directors adopted at the time of issuance of the Class 6 Preferred Shares, up to one hundred twenty-five thousand (125,000) yen per share
per year
		
	Class 7 Preferred Shares:	 	Amount to be determined by resolution of the Board of Directors adopted at the time of issuance of the Class 7 Preferred Shares, up to one hundred twenty-five thousand (125,000) yen per share
per year
		
	Class 8 Preferred Shares:	 	Fifteen thousand nine hundred (15,900) yen per share per year
		
	Class 9 Preferred Shares:	 	Eighteen thousand six hundred (18,600) yen per share per year
		
	Class 10 Preferred Shares:	 	Nineteen thousand four hundred (19,400) yen per share per year
		
	Class 11 Preferred Shares:	 	Five thousand three hundred (5,300) yen per share per year
		
	Class 12 Preferred Shares:	 	Eleven thousand five hundred (11,500) yen per share per year

  

	2.	If the aggregate amount paid to a Preferred Shareholder or Registered Preferred Pledgee as dividends in any particular business year is less than the prescribed amount of the
relevant Preferred Dividends, the unpaid amount shall not be carried over to nor cumulated in subsequent business years. 

  

	3.	The Company shall not pay to any Preferred Shareholder or Registered Preferred Pledgee as dividends any amount in excess of the prescribed amount of the relevant Preferred
Dividends. 

 (Preferred Interim Dividends) 
 Article 12. 
 In the event of payment of Interim Dividends provided for in Article 38 of these Articles (hereinafter referred
to as the “Preferred Interim Dividends”), the Company shall make a cash distribution in such respective amount as prescribed below for each class of Preferred Shares to the Preferred Shareholders or Registered Preferred Pledgees with
priority over the Ordinary Shareholders, Registered Ordinary Pledgees or Fractional Ordinary Shareholders. 
  

			
	Class 3 Preferred Shares:	 	Amount to be determined by resolution of the Board of Directors adopted at the time of issuance of the Class 3 Preferred Shares, up to one hundred twenty-five thousand (125,000) yen per
share
		
	Class 5 Preferred Shares:	 	Amount to be determined by resolution of the Board of Directors adopted at the time of issuance of the Class 5 Preferred Shares, up to one hundred twenty-five thousand (125,000) yen per
share
		
	Class 6 Preferred Shares:	 	Amount to be determined by resolution of the Board of Directors adopted at the time of issuance of the Class 6 Preferred Shares, up to sixty-two thousand five hundred (62,500) yen per
share
		
	Class 7 Preferred Shares:	 	Amount to be determined by resolution of the Board of Directors adopted at the time of issuance of the Class 7 Preferred Shares, up to sixty-two thousand five hundred (62,500) yen per
share
		
	Class 8 Preferred Shares:	 	Seven thousand nine hundred fifty (7,950) yen per share
		
	Class 9 Preferred Shares:	 	Nine thousand three hundred (9,300) yen per share
		
	Class 10 Preferred Shares:	 	Nine thousand seven hundred (9,700) yen per share
		
	Class 11 Preferred Shares:	 	Two thousand six hundred fifty (2,650) yen per share
		
	Class 12 Preferred Shares:	 	Five thousand seven hundred fifty (5,750) yen per share

  

 4 

 (Distribution of Residual Assets) 
 Article 13. 
  

	1.	If the Company distributes its residual assets upon liquidation, the Company shall pay to the Preferred Shareholders or Registered Preferred Pledgees with priority over the Ordinary
Shareholders, Registered Ordinary Pledgees or Fractional Ordinary Shareholders in such respective amount as prescribed below: 

  

			
	Class 3 Preferred Shares:	 	Two million five hundred thousand (2,500,000) yen per share
		
	Class 5 Preferred Shares:	 	Two million five hundred thousand (2,500,000) yen per share
		
	Class 6 Preferred Shares:	 	Two million five hundred thousand (2,500,000) yen per share
		
	Class 7 Preferred Shares:	 	Two million five hundred thousand (2,500,000) yen per share
		
	Class 8 Preferred Shares:	 	Three million (3,000,000) yen per share
		
	Class 9 Preferred Shares:	 	Two million (2,000,000) yen per share
		
	Class 10 Preferred Shares:	 	Two million (2,000,000) yen per share
		
	Class 11 Preferred Shares:	 	One million (1,000,000) yen per share
		
	Class 12 Preferred Shares:	 	One million (1,000,000) yen per share

  

	2.	The Company shall not make a distribution of residual assets other than as provided for in the preceding paragraph to the Preferred Shareholders or Registered Preferred Pledgees.

 (Voting Rights) 
 Article 14.

 Unless otherwise provided for by laws or regulations, the Preferred Shareholders shall not have voting rights at any general meeting of
shareholders; provided, however, that the Preferred Shareholders shall have voting rights from (i) the commencement of an ordinary general meeting of shareholders in the event that no proposal for declaration of the Preferred Dividends be paid
to the Preferred Shareholders is submitted to such ordinary general meeting of shareholders or (ii) the close of an ordinary general meeting of shareholders in the event that such proposal is rejected at such ordinary general meeting of
shareholders, until, in either case, a proposal for declaration of the Preferred Dividends be paid to the Preferred Shareholders is approved at an ordinary general meeting of shareholders. 
 (Consolidation or Split of Preferred Shares and Subscription Rights, etc.) 
 Article 15. 
  

	1.	Unless otherwise provided for by laws or regulations, the Company shall not consolidate or split any Preferred Shares. 

  

	2.	The Company shall not grant the Preferred Shareholders any rights to subscribe for new shares, stock acquisition rights or bonds with stock acquisition rights.

 (Cancellation of Preferred Shares) 
 Article 16. 
  

	1.	The Company may, at any time, purchase Preferred Shares and cancel them. 

  

	2.	The purchase or cancellation of Preferred Shares pursuant to the preceding paragraph may be made in respect of any of one or more classes of Preferred Shares.

  

 5 

	3.	In respect of Class 3 Preferred Shares, Class 5 Preferred Shares and/or Class 6 Preferred Shares, the Company may, after issuance of the respective Preferred Shares and after the
lapse of the period designated by resolution of the Board of Directors adopted at the time of the issuance of respective Preferred Shares, redeem such Preferred Shares, in whole or in part, at such time and at such redemption price as deemed
appropriate giving due consideration to the prevailing market conditions, as determined by such resolution of the Board of Directors. 

  

	4.	Partial redemption shall be effected by way of lot or other method. 

 (Conversion into Ordinary Shares) 
 Article 17. 
  

	1.	Any holder of Class 6 or Class 7 Preferred Shares may request conversion of such Preferred Shares into Ordinary Shares of the Company during the period in which such Preferred
Shareholder is entitled to request conversion as determined by resolution of the Board of Directors adopted at the time of issuance of such Preferred Shares, pursuant to the terms of conversion as designated by such resolution.

  

	2.	Any holder of Class 8 Preferred Shares through Class 12 Preferred Shares may request conversion of the relevant Preferred Shares into Ordinary Shares of the Company during the
period in which such Preferred Shareholder is entitled to request conversion as prescribed in the merger agreement, the execution of which, in accordance with the provisions of Article 408 of the Commercial Code, was approved at the respective
general meetings of shareholders of the Company and UFJ Holdings, Inc., pursuant to the terms of conversion prescribed in such merger agreement. 

 (Mandatory Conversion) 
 Article 18. 
  

	1.	Any of Class 6 Preferred Shares or Class 7 Preferred Shares for which no request for conversion into Ordinary Shares is made during the period in which the holders of such Preferred
Shares is entitled to request conversion shall be mandatorily converted on the day immediately following the last day of such period (hereinafter referred to as the “Mandatory Conversion Date”) into Ordinary Shares and fractional Ordinary
Shares in the number as is obtained by dividing an amount equivalent to the subscription price per each relevant Preferred Share by the average daily closing price (including closing bids or offered prices) of Ordinary Shares of the Company (in
regular trading) as reported by the Tokyo Stock Exchange for the thirty (30) consecutive trading days (excluding a trading day or days on which no closing price or closing bid or offered price is reported) commencing on the forty-fifth
(45th) trading day prior to the Mandatory Conversion Date; provided, however, that such calculation shall be made to the second decimal place denominated in yen, and rounded up to one decimal place when the fraction beyond it is equal to or
more than 0.05 yen, discarding amounts less than 0.05 yen. If the relevant average price is less than the amount determined by resolution of the Board of Directors adopted at the time of issuance of respective Preferred Shares, the relevant
Preferred Shares shall be converted into Ordinary Shares and fractional Ordinary Shares in the number as is obtained by dividing an amount equivalent to the subscription price per each relevant Preferred Shares by an amount so determined by such
resolution of the Board of Directors. 

  

	2.	 Any of Class 8 Preferred Shares through Class 12 Preferred Shares for which no request for conversion into Ordinary Shares is made during the period in which such
Preferred Shareholder is entitled to request for conversion shall be mandatorily converted on the Mandatory Conversion Date into Ordinary Shares and fractional Ordinary Shares in the number as is obtained by dividing an amount equivalent to the
subscription price per each relevant Preferred Share by the average daily closing price (including closing bids or offered prices) of Ordinary Shares of the Company (in regular trading) as reported by the Tokyo Stock Exchange for the thirty
(30) consecutive trading days (excluding a trading day or days on which no closing price or closing bid or offered price is reported) commencing on the forty-fifth (45th) trading day prior to the 

  

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Mandatory Conversion Date; provided, however, that such calculation shall be made to units of ten (10) denominated in Yen, and rounded up to the nearest
hundred (100) yen when the fraction is equal to or more than fifty (50) yen, discarding amounts less than fifty (50) yen. If the relevant average price is less than such respective amount as set forth below, the relevant Preferred
Shares shall be converted into Ordinary Shares and fractional Ordinary Shares in the number as is obtained by dividing the amount equivalent to the subscription price per each relevant Preferred Share by such respective amount as set forth below.

  

			
	Class 8 Preferred Shares:	 	One million two hundred nine thousand seven hundred (1,209,700) yen per share
		
	Class 9 Preferred Shares:	 	Nine hundred ten thousand five hundred (910,500) yen per share
		
	Class 10 Preferred Shares:	 	Nine hundred ten thousand five hundred (910,500) yen per share
		
	Class 11 Preferred Shares:	 	Eight hundred two thousand six hundred (802,600) yen per share
		
	Class 12 Preferred Shares:	 	Seven hundred ninety-five thousand two hundred (795,200) yen per share

  

	3.	In respect of Class 8 Preferred Shares through Class 12 Preferred Shares, the amount equivalent to the subscription price referred to in the preceding paragraph shall be such
respective amount as prescribed below. 

  

			
	Class 8 Preferred Shares:	 	Three million (3,000,000) yen per share
		
	Class 9 Preferred Shares:	 	Two million (2,000,000) yen per share
		
	Class 10 Preferred Shares:	 	Two million (2,000,000) yen per share
		
	Class 11 Preferred Shares:	 	One million (1,000,000) yen per share
		
	Class 12 Preferred Shares:	 	One million (1,000,000) yen per share

  

	4.	In the calculation of the number of Ordinary Shares provided for in Paragraph 1 and Paragraph 2 of this article, if any number less than one-hundredth (1/100) of one
(1) share is yielded, the provisions concerning consolidation of shares in the Commercial Code shall apply mutatis mutandis. 

 (Order of Priority) 
 Article 19. 
 All classes of Preferred Shares shall rank pari passu with each other in respect of the payment of Preferred Dividends and Preferred Interim Dividends and the distribution of residual assets. 
 (Prescription Period) 
 Article 20. 
 The provisions set forth in Article 40 of these Articles shall apply mutatis mutandis to the payment of Preferred Dividends and Preferred Interim
Dividends. 
  

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 CHAPTER IV. 
 GENERAL MEETING OF SHAREHOLDERS 
 (Convocation) 
 Article 21. 
  

	1.	An ordinary general meeting of shareholders shall be convened within three (3) months from the last day of each business year. 

  

	2.	An extraordinary general meeting of shareholders shall be convened whenever necessary. 

 (Chairman) 
 Article 22. 
  

	1.	The President and Director of the Company shall act as chairman of general meetings of shareholders. 

  

	2.	If the President and Director is unable to act as such, one of the other Directors shall act as chairman in accordance with the order of priority previously determined by the Board
of Directors. 

 (Method of Resolution) 
 Article 23. 
  

	1.	Unless otherwise provided for by law or regulation or these Articles of Incorporation, resolutions of a general meeting of shareholders shall be adopted by an affirmative vote of a
majority of the voting rights of the shareholders in attendance. 

  

	2.	Resolutions of a general meeting of shareholders provided for in Article 343 of the Commercial Code and resolutions of a general meeting of shareholders for which the method of
resolution provided for in such Article 343 shall be applied mutatis mutandis pursuant to the Commercial Code and other laws and regulations shall be adopted by an affirmative vote of two-thirds (2/3) or more of the voting rights of the
shareholders in attendance who hold in the aggregate not less than one-third (1/3) of the total number of voting rights of all shareholders. 

 (Voting by Proxy) 
 Article 24. 
  

	1.	Shareholders may exercise their voting rights at a general meeting of shareholders by appointing a proxy who is a shareholder of the Company entitled to exercise its own voting
rights at such meeting. 

  

	2.	In the case of the preceding paragraph, the shareholder or the proxy thereof shall submit to the Company a document evidencing authority of the proxy to act as such at each general
meeting of shareholders. 

 (Minutes) 
 Article 25. 
 The substance of proceedings and the results of general meetings of shareholders shall be stated or recorded in
the minutes, to which the chairman of the meeting and the Directors present shall put their names and affix their seals or electronic signatures. 
 (General Meetings of Holders of Classes of Shares) 
 Article 26. 
 The provisions of Articles 22, 24 and 25 of these Articles shall apply mutatis mutandis to general meetings of class shareholders. 
  

 8 

 CHAPTER V. 
 DIRECTORS AND BOARD OF DIRECTORS 
 (Number of Directors and Method of Election) 
 Article 27. 
  

	1.	The Company shall have not more than twenty (20) Directors, who shall be elected at a general meeting of shareholders. 

  

	2.	A resolution for the election of Directors shall be adopted at a general meeting of shareholders by an affirmative vote of a majority of the voting rights of the shareholders in
attendance who hold voting rights representing in the aggregate one-third (1/3) or more of the total number of voting rights of all shareholders. 

  

	3.	Resolutions for the election of Directors shall not be made by cumulative voting. 

 (Term of Office) 
 Article 28. 
 The term of office of Directors shall expire at the close of the ordinary general meeting of shareholders held in respect of the last fiscal term ending one (1) year after their assumption of office. 

(Representative Director and Directors with Executive Power) 
 Article 29. 
  

	1.	The Board of Directors shall, by resolution, elect Representative Director(s) from among the Directors. 

  

	2.	Representative Directors shall severally represent the Company. 

  

	3.	The Board of Directors shall, by resolution, appoint the President and Director. 

  

	4.	The Board of Directors may, by resolution, appoint the Chairman and Director, several Deputy Chairman and Directors, Deputy Presidents, Senior Managing Directors and Managing
Directors. 

 (Board of Directors) 
 Article 30. 
  

	1.	The Board of Directors shall determine the management of the affairs of the Company and supervise the performance of duties of Directors. 

  

	2.	Unless otherwise provided for by laws and regulations, the Chairman and Director shall convene meetings of the Board of Directors and act as chairman. If the Chairman and Director
is unable to act as such, or if the Board of Directors does not appoint the Chairman and Director by its resolution, one of the other Directors shall act as Chairman and Director in accordance with the order of priority previously determined by the
Board of Directors. 

  

	3.	Notice to convene a meeting of the Board of Directors shall be given to each Director and Corporate Auditor at least three (3) days prior to the date of such meeting; provided,
however, that the foregoing shall not apply in cases of emergency. 

  

	4.	Unless otherwise provided for by law or regulation, resolutions of a meeting of the Board of Directors shall be adopted by an affirmative vote of a majority of the Directors present
who constitute in number a majority of all the Directors of the Company. 

  

	5.	The substance of proceedings and the results of meetings of the Board of Directors shall be stated or recorded in the minutes, to which the Directors and Corporate Auditors present
shall put their names and affix their seals or electronic signatures. 

  

 9 

 (Limited Liability Agreement with Outside Director) 
 Article 31. 
 Pursuant to the provisions of Article 266, Paragraph 19 of the Commercial Code, the
Company may execute agreements with Outside Directors, which limit the liability of such Outside Directors arising from any act provided for in Paragraph 1, Item 5 of the said article; provided, however, that the limit of the liability under
such agreements shall be the greater of an amount determined in advance which shall not be less than ten million (10,000,000) yen or the amount prescribed by laws or regulations. 
 CHAPTER VI. 
 CORPORATE AUDITORS AND 
 BOARD OF CORPORATE AUDITORS 
 (Number of Corporate
Auditors and Method of Election) 
 Article 32. 
  

	1.	The Company shall have not more than seven (7) Corporate Auditors, who shall be elected at a general meeting of shareholders. 

  

	2.	A resolution for the election of Corporate Auditors shall be adopted at a general meeting of shareholders by an affirmative vote of a majority of the voting rights of the
shareholders in attendance, who hold voting rights representing in the aggregate one-third (1/3) or more of the total number of voting rights of all shareholders. 

 (Term of Office) 
 Article 33. 
 The term of office of Corporate Auditors shall expire at the close of the ordinary general meeting of shareholders held in respect of the last fiscal term ending four (4) years after their assumption of office.

 (Full-time Corporate Auditors) 
 Article 34.

 The Corporate Auditors shall appoint several full-time Corporate Auditors from among themselves. 
 (Board of Corporate Auditors) 
 Article 35. 
  

	1.	The Board of Corporate Auditors shall have the authority provided for by law and regulation and also shall determine matters concerning the performance of duties by Corporate
Auditors; provided, however, that the Board of Corporate Auditors shall not prevent the Corporate Auditors from exercising their power and authority. 

  

	2.	Notice to convene a meeting of the Board of Corporate Auditors shall be given to each Corporate Auditor at least three (3) days prior to the date of such meeting; provided,
however, that the foregoing shall not apply in cases of emergency. 

  

	3.	Unless otherwise provided for by law or regulation, resolutions of a meeting of the Board of Corporate Auditors shall be adopted by an affirmative vote of a majority of the
Corporate Auditors. 

  

	4.	The substance of proceedings and the results of meetings of the Board of Corporate Auditors shall be stated or recorded in the minutes, to which the Corporate Auditors present shall
put their names and affix their seals or electronic signatures. 

  

 10 

 CHAPTER VII. 
 ACCOUNTS 
 (Business Year and Fiscal Term) 
 Article 36. 
 The business year of the Company shall commence on April 1 of each year and end on
March 31 of the following year and the fiscal term of each business year shall be settled as of the last day of such business year. 
 (Dividends)

 Article 37. 
 The Company’s
dividends shall be paid to the shareholders or registered pledgees whose names have been entered or recorded in the latest register of shareholders as well as to the fractional shareholders whose names have been entered or recorded in the latest
ledger of fractional shares as of March 31 of each year. 
 (Interim Dividends) 
 Article 38. 
 By resolution of the Board of Directors, the Company may pay cash pursuant to Article
293-5 of the Commercial Code (referred to as the “Interim Dividends” in these Articles of Incorporation) to the shareholders or registered pledgees whose names have been entered or recorded in the latest register of shareholders as well as
to the fractional shareholders whose names have been entered or recorded in the latest ledger of fractional shares as of September 30 of each year. 
 (Conversion of Preferred Shares and Dividends) 
 Article 39. 
 For the purpose of payment of the first dividends or Interim Dividends payable on Ordinary Shares issued upon conversion of Class 6 Preferred Shares
through Class 12 Preferred Shares issued by the Company, the conversion shall be deemed to have taken effect as of April 1, if a request for conversion or mandatory conversion is made during the period from April 1 through
September 30, or as of October 1, if such request or conversion is made during the period from October 1 through March 31 of the following year. 
 (Prescription Period for Payment of Dividends) 
 Article 40. 
 The Company shall be released from the obligation to pay dividends or Interim Dividends the payment of which has not been accepted after the lapse of five
(5) full years from the date of commencement of payment thereof. Dividends and Interim Dividends of the Company shall bear no interest. 
 SUPPLEMENT 
 (Application of Term of Office of Directors) 
 Article 1. 
 The provisions of Article 28 hereof shall apply to Directors who are appointed at the
ordinary general meeting of shareholders held in respect of the fourth (4th) business year and thereafter. 
 - End - 
  

 11 

 Date of Establishment 
 April 2 , 2001 
 Date of Amendment

  

			
	June 27, 2002	  	
		
	June 27, 2003	  	
		
	June 29, 2004	  	
		
	June 29, 2005	  	
		
	October 1, 2005    	  	(However, the Amendments to Articles of 5, 11, 12 (except for the amendment to Article 12 changing the reference to Article 37 into that to Article 38), 13,17, 18 and 39 shall be effective
from October 3, 2005. )

  

 12Form of Senior Debt Indenture

 Exhibit 4.2 
 Form of Senior Debt Indenture 
  

 MITSUBISHI UFJ FINANCIAL GROUP, INC. 
 and 
 JPMORGAN CHASE BANK, N.A., 
 as
Trustee 
  

 INDENTURE 
 Dated as of             , 2006 
  

 Senior Debt Securities

  

 MITSUBISHI UFJ FINANCIAL GROUP, INC. 
 Reconciliation and tie showing the location in the Indenture dated as of             , 2006
of the provisions inserted pursuant to Sections 310 to 318(a), inclusive, of the Trust Indenture Act of 1939. 
  

					
	 Trust Indenture Act Section
	  	 Indenture Section

	 § 310
	 	 (a)(1)
	  	609
		 	 (a)(2)
	  	609
		 	 (a)(3)
	  	Not Applicable
		 	 (a)(4)
	  	Not Applicable
		 	 (b)
	  	608
		 		  	610(d)
		 	 (c)
	  	Not Applicable
	 § 311
	 	 (a)
	  	613(a) and 613(c)
		 	 (b)
	  	613(b) and 613(c)
		 	 (c)
	  	Not Applicable
	 § 312
	 	 (a)
	  	701
		 		  	702(a)
		 	 (b)
	  	702(b)
		 	 (c)
	  	702(c)
	 § 313
	 	 (a)
	  	703(a)
		 	 (b)
	  	703(b)
		 	 (c)
	  	703(a) and 703(b)
		 	 (d)
	  	703(d)
	 § 314
	 	 (a)
	  	704
		 	 (b)
	  	Not Applicable
		 	 (c)
	  	102
		 	 (c)(1)
	  	102
		 	 (c)(2)
	  	102
		 	 (c)(3)
	  	Not Applicable
		 	 (d)
	  	Not Applicable
		 	 (e)
	  	102
	 § 315
	 	 (a)
	  	601(a)
		 	 (b)
	  	602
		 		  	703(a)(6)
		 	 (c)
	  	601(b)
		 	 (d)
	  	601(c)
		 	 (d)(l)
	  	601(a)(1)
		 	 (d)(2)
	  	601(c)(2)
		 	 (d)(3)
	  	601(c)(3)
		 	 (e)
	  	514
	 § 316
	 	 (a)(1)(A)
	  	502 and 512
		 	 (a)(1)(B)
	  	513
		 	 (a)(2)
	  	Not Applicable
		 	 (b)
	  	508
	 § 317
	 	 (a)(I)
	  	503
		 	 (a)(2)
	  	504
		 	 (b)
	  	1003
	 § 318
	 	 (a)
	  	107

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

 i 

 TABLE OF CONTENTS 
  

			
	  	  	Page
	 PARTIES
	  	1
	 RECITALS
	  	1
		
	 ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	1
		
	 SECTION 101. Definitions.
	  	1
	 SECTION 102. Compliance Certificates and Opinions.
	  	7
	 SECTION 103. Form of Documents Delivered to Trustee.
	  	7
	 SECTION 104. Acts of Holders.
	  	8
	 SECTION 105. Notices, Etc., to Trustee and Company.
	  	9
	 SECTION 106. Notice to Holders; Waiver.
	  	9
	 SECTION 107. Conflict with Trust Indenture Act.
	  	9
	 SECTION 108. Effect of Headings and Table of Contents.
	  	10
	 SECTION 109. Successors and Assigns.
	  	10
	 SECTION 110. Separability Clause.
	  	10
	 SECTION 111. Benefits of Indenture.
	  	10
	 SECTION 112. Governing Law; WAIVER OF TRIAL BY JURY.
	  	10
	 SECTION 113. Submission to Jurisdiction; Appointment of Agent for Service; Waivers.
	  	10
	 SECTION 114. Non-Business Day.
	  	11
	 SECTION 115. Immunity of Stockholders, Officers and Directors.
	  	11
	 SECTION 116. Certain Matters Relating to Currencies.
	  	11
	 SECTION 117. Language of Notices, Etc.
	  	12
		
	 ARTICLE TWO SECURITY FORMS
	  	12
		
	 SECTION 201. Form Generally.
	  	12
	 SECTION 202. Form of Trustee’s Certificate of Authentication.
	  	13
	 SECTION 203. Securities in Global Form.
	  	13
		
	 ARTICLE THREE THE SECURITIES
	  	13
		
	 SECTION 301. Title; Payment and Terms.
	  	13
	 SECTION 302. Denominations and Currencies.
	  	15
	 SECTION 303. Execution, Authentication, Delivery and Dating.
	  	15
	 SECTION 304. Temporary Securities and Exchange of Securities.
	  	16
	 SECTION 305. Registration, Registration of Transfer and Exchange.
	  	16
	 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities.
	  	18
	 SECTION 307. Payment of Interest; Interest Rights Preserved.
	  	19
	 SECTION 308. Persons Deemed Owners.
	  	20
	 SECTION 309. Cancellation.
	  	20
	 SECTION 310. Computation of Interest.
	  	21
	 SECTION 311. Currency and Manner of Payments in Respect of Securities.
	  	21
	 SECTION 312. Appointment and Resignation of Successor Currency Determination Agent.
	  	22
	 SECTION 313. CUSIP Numbers.
	  	23
	 SECTION 314. Japanese Withholding Tax.
	  	23

  

 ii 

			
	  	  	Page
	 ARTICLE FOUR SATISFACTION AND DISCHARGE
	  	24
		
	 SECTION 401. Satisfaction and Discharge of Securities of any Series.
	  	24
	 SECTION 402. Application of Trust Money.
	  	25
	 SECTION 403. Satisfaction and Discharge of Indenture.
	  	25
	 SECTION 404. Reinstatement.
	  	25
		
	 ARTICLE FIVE REMEDIES
	  	26
		
	 SECTION 501. Events of Default.
	  	26
	 SECTION 502. Acceleration of Maturity; Rescission and Annulment.
	  	27
	 SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee.
	  	28
	 SECTION 504. Trustee May File Proofs of Claim.
	  	28
	 SECTION 505. Trustee May Enforce Claims Without Possession of Securities.
	  	29
	 SECTION 506. Application of Money Collected.
	  	29
	 SECTION 507. Limitation on Suits.
	  	29
	 SECTION 508. Unconditional Right of Holders to Receive Principal (and Premium, if any) and Interest, if any.
	  	30
	 SECTION 509. Restoration of Rights and Remedies.
	  	30
	 SECTION 510. Rights and Remedies Cumulative.
	  	30
	 SECTION 511. Delay or Omission Not Waiver.
	  	30
	 SECTION 512. Control by Holders.
	  	31
	 SECTION 513. Waiver of Past Default.
	  	31
	 SECTION 514. Undertaking for Costs.
	  	31
	 SECTION 515. Waiver of Stay or Extension Laws.
	  	31
	 SECTION 516. Judgment Currency.
	  	32
		
	 ARTICLE SIX THE TRUSTEE
	  	32
		
	 SECTION 601. Certain Duties and Responsibilities.
	  	32
	 SECTION 602. Notice of Defaults.
	  	33
	 SECTION 603. Certain Rights of Trustee.
	  	33
	 SECTION 604. Not Responsible for Recitals or Issuance of Securities.
	  	35
	 SECTION 605. May Hold Securities.
	  	35
	 SECTION 606. Money Held in Trust.
	  	35
	 SECTION 607. Compensation and Reimbursement.
	  	35
	 SECTION 608. Disqualification; Conflicting Interests.
	  	36
	 SECTION 609. Corporate Trustee Required; Different Trustees for Different Series; Eligibility.
	  	36
	 SECTION 610. Resignation and Removal; Appointment of Successor.
	  	36
	 SECTION 611. Acceptance of Appointment by Successor.
	  	37
	 SECTION 612. Merger, Conversion, Consolidation or Succession to Business.
	  	38
	 SECTION 613. Preferential Collection of Claims Against Company.
	  	39
	 SECTION 614. Authenticating Agents.
	  	39
	 SECTION 615. Trustee’s Application for Instructions from the Company.
	  	40
	 SECTION 616. Co-trustees and Separate Trustees
	  	40
		
	 ARTICLE SEVEN HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	41
		
	 SECTION 701. Company to Furnish Trustee Names and Addresses of Holders.
	  	41
	 SECTION 702. Preservation of Information; Communications to Holders.
	  	41
	 SECTION 703. Reports by Trustee.
	  	42
	 SECTION 704. Reports by Company.
	  	43
	 SECTION 705. Statement by Officers as to Default.
	  	43

  

 iii 

			
	  	  	Page
	 ARTICLE EIGHT CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER
	  	44
		
	 SECTION 801. Company May Consolidate, Etc., Only on Certain Terms.
	  	44
	 SECTION 802. Successor Corporation Substituted.
	  	44
		
	 ARTICLE NINE SUPPLEMENTAL INDENTURES
	  	44
		
	 SECTION 901. Supplemental Indentures Without Consent of Holders.
	  	44
	 SECTION 902. Supplemental Indentures With Consent of Holders.
	  	45
	 SECTION 903. Execution of Supplemental Indentures.
	  	46
	 SECTION 904. Effect of Supplemental Indentures.
	  	46
	 SECTION 905. Conformity With Trust Indenture Act.
	  	47
	 SECTION 906. Reference in Securities to Supplemental Indentures.
	  	47
		
	 ARTICLE TEN COVENANTS
	  	47
		
	 SECTION 1001. Payment of Principal (and Premium, if any) and Interest, if any.
	  	47
	 SECTION 1002. Maintenance of Office or Agency.
	  	47
	 SECTION 1003. Money for Securities Payments to Be Held in Trust.
	  	48
	 SECTION 1004. Payment of Taxes and Other Claims.
	  	49
	 SECTION 1005. Statements as to Compliance.
	  	49
	 SECTION 1006. Corporate Existence.
	  	49
	 SECTION 1007. Reserved.
	  	49
	 SECTION 1008. Waiver of Certain Covenants.
	  	49
	 SECTION 1009. Payment of Additional Amounts.
	  	50
		
	 ARTICLE ELEVEN REDEMPTION OF SECURITIES
	  	51
		
	 SECTION 1101. Applicability of This Article.
	  	51
	 SECTION 1102. Election to Redeem; Notice to Trustee.
	  	51
	 SECTION 1103. Selection by Trustee of Securities to Be Redeemed.
	  	51
	 SECTION 1104. Notice of Redemption.
	  	52
	 SECTION 1105. Deposit of Redemption Price.
	  	52
	 SECTION 1106. Securities Payable on Redemption Date.
	  	53
	 SECTION 1107. Securities Redeemed in Part.
	  	53
	 SECTION 1108. Tax Redemption.
	  	53
		
	 ARTICLE TWELVE SINKING FUNDS
	  	54
		
	 SECTION 1201. Applicability of This Article.
	  	54
	 SECTION 1202. Satisfaction of Sinking Fund Payments With Securities.
	  	54
	 SECTION 1203. Redemption of Securities for Sinking Fund.
	  	54
		
	 ARTICLE THIRTEEN DEFEASANCE AND COVENANT DEFEASANCE
	  	55
		
	 SECTION 1301. Company’s Right with Respect to Defeasance or Covenant Defeasance.
	  	55
	 SECTION 1302. Defeasance and Discharge.
	  	55
	 SECTION 1303. Covenant Defeasance.
	  	55
	 SECTION 1304. Conditions to Defeasance or Covenant Defeasance.
	  	56
	 SECTION 1305. Deposited Money and Government Obligations to be Held in Trust: Miscellaneous Provisions.
	  	57
	 SECTION 1306. Reinstatement.
	  	58

  

 iv 

 This is an INDENTURE dated as of
            , 2006, between Mitsubishi UFJ Financial Group, Inc., a joint stock company (kabushiki kaisha) organized under the laws of Japan and having its principal office at 7-1
Marunouchi 2-chome, Chiyoda-ku, Tokyo 100-8330, Japan (hereinafter called the “Company”), and JPMorgan Chase Bank, N.A., a national banking association, as Trustee (hereinafter called the “Trustee”). 
 RECITALS OF THE COMPANY 
 The Company
deems it necessary to issue from time to time for its lawful purposes securities (hereinafter called the “Securities”) evidencing its unsecured indebtedness and has duly authorized the execution and delivery of this Indenture to provide
for the issuance from time to time of the Securities, unlimited as to principal amount, to have such titles, to bear such rates of interest, to mature at such time or times and to have such other provisions as shall be fixed as hereinafter provided.

 All things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done, and the
Company proposes to do all things necessary to make the Securities, when executed by the Company and authenticated and delivered by the Trustee hereunder and duly issued by the Company, the valid obligations of the Company as hereinafter provided.

 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all Holders of the Securities or
series thereof, as follows: 
 ARTICLE ONE 
 DEFINITIONS AND OTHER PROVISIONS 
 OF GENERAL APPLICATION 
 SECTION 101. Definitions. 
 For all purposes of this Indenture and all Securities issued hereunder, except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as the singular;

 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have
the meanings assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the meanings assigned to
them in accordance with generally accepted accounting principles in the United States, and the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting
principles as are generally accepted in the United States at the date or time of such computation; 
 (4) 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; and 
 (5) any reference to an “Article” or a “Section” refers to an Article or a Section, as the case may be, of this
Indenture. 
 Certain terms, used principally in Article Three and Article Six, are defined in those Articles. 
 “Act”, when used with respect to any Holder, has the meaning specified in Section 104. 
  

 1 

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

 “Authenticating Agent” means any Person authorized to authenticate and deliver Securities on behalf of the Trustee for
the Securities of any series pursuant to Section 614. 
 “Authorized Agent” has the meaning specified in
Section 113. 
 “Board of Directors” means the board of directors of the Company or any duly authorized committee of
that board or any director or directors and/or officer or officers of the Company to whom that board or committee shall have duly delegated its authority. 
 “Business Day”, when used with respect to any particular Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of
Payment are authorized or obligated by law to close, and shall otherwise mean each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in New York or at the place where any specified act pursuant to this
Indenture is to occur, are authorized or obligated by law or executive order to close. 
 “Certificate of a Firm of Independent
Public Accountants” means a certificate signed by any firm of independent public accountants of recognized standing selected by the Company. The term “independent” when used with respect to any specified firm of public accountants
means such a firm which (1) is in fact independent, (2) does not have any direct financial interest or any material indirect financial interest in the Company or in any other obligor upon the Securities of any series or in any affiliate of
the Company or of such other obligor, and (3) is not connected with the Company or such other obligor or any affiliate of the Company or of such other obligor, as an officer, employee, promoter, underwriter, trustee, partner, director or person
performing similar functions, but such firm may be the regular auditors employed by the Company. Whenever it is herein provided that any Certificate of a Firm of Independent Public Accountants shall be furnished to the Trustee for Securities of any
series, such Certificate shall state that the signer has read this definition and that the signer is independent within the meaning hereof. 
 “Commercial Code” means the Japanese Commercial Code (Law No. 48 of 1899, as amended) as amended or replaced from time to time. 
 “Commission” means the United States Securities and Exchange Commission, as from time to time constituted, created under the United States Securities Exchange Act of 1934, as amended, or if at any
time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties on such date. 
 “Company” means the Person named as the “Company” in the first paragraph of this instrument until a successor corporation
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor corporation. 
 “Company Request” and “Company Order” mean, respectively, a written request or order signed in the name of the Company by (1) the President or any Representative Director of the
Company, or (2) by any Person designated in a Company Order previously delivered to the Trustee for Securities of any series by any of the foregoing officers and delivered to the Trustee for Securities of any series. 
 “Company Resolution” means (1) a copy of a resolution certified by a Representative Director 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 

  

 2 

 
such certification, or (2) a certificate signed by the director or directors or officer or officers to whom the board of directors of the Company shall
have duly delegated its authority, and delivered to the Trustee for the Securities of any series. 
 “Conversion Date” has
the meaning specified in Section 311(d). 
 “Conversion Event” means the cessation of use of a Foreign Currency by the
government of the country which 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 for Securities of any series at which at any particular time its corporate
trust business shall be principally administered, which office of the Trustee, at the date of the execution of this instrument, is located at JPMorgan Chase Bank, N.A., Worldwide Securities Services, 4 New York Plaza, 15th Floor, New York, New York 10004, or such other office as the Trustee may designate by written notice to the Company.

 “corporation” includes corporations, associations, companies and business trusts. 
 “Covenant Defeasance” has the meaning specified in Section 1303. 
 “Currency Determination Agent”, with respect to Securities of any series, means a New York Clearing House bank designated pursuant to
Section 301(7) or Section 312. 
 “Defaulted Interest” has the meaning specified in Section 307. 

“Defeasance” has the meaning specified in Section 1302. 
 “Depositary” means, with respect to the Securities of any series issuable or issued in the form of a global Security, the Person
designated as Depositary by the Company pursuant to Section 301 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 hereunder, and if at any time there is more than one such Person, “Depositary” as used with respect to the Securities of any such series shall mean the Depositary with respect to the Securities of that series.

 “Discounted Security” means any Security which provides for an amount (excluding any amounts attributable to accrued but
unpaid interest thereon) less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 
 “Dollar Equivalent of the Foreign Currency” has the meaning specified in Section 311(f). 
 “Dollars” and the sign “$” mean the currency of the United States of America as at the time of payment is legal tender
for the payment of public and private debts. 
 “Election Date” has the meaning specified in Section 311(g).

 “Euro” means the lawful currency of the member states of the European Community that adopt a single currency in
accordance with the Treaty establishing the European Community (signed in Rome on March 25, 1957), as amended by the Treaty on European Union (signed in Maastricht on February 7, 1992). 
 “Event of Default” has the meaning specified in Section 501. 
 “Exchange Act” means the United States Securities Exchange Act of 1934, as amended. 
 “Exchange Rate Officer’s Certificate” means a certificate setting forth (i) the applicable Market Exchange Rate and
(ii) the Dollar or Foreign Currency amounts of principal (and premium, if any) and interest, if any (on 

  

 3 

 
an aggregate basis and on the basis of a Security having the lowest denomination principal amount determined in accordance with Section 302 in the
relevant currency), payable with respect to a Security of any series on the basis of such Market Exchange Rate, signed by any General Manager, Chief Manager or Senior Manager of Financial Policy Division of the Company. 
 “Foreign Currency” means a currency (including, without limitation, the Euro) issued and actively maintained as a country’s or
countries’ recognized unit of domestic exchange by the government of any country other than the United States. 
 “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 payable (except as provided in Sections 311(b), 31l(d) and 31l(e), in which
case with respect to Securities for which an election has occurred pursuant to Section 311(b), or a Conversion Event has occurred as provided in Sections 311(d) and 311(e), such obligations shall be issued in the currency in which such
Securities are payable as a result of such election or Conversion Event) 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 payable (except as provided in Sections 311(b), 311(d) and 311(e), in which case with respect to Securities for which an election has occurred pursuant to Section 311(b), or a Conversion Event has occurred as provided in
Sections 311(d) and 311(e), such obligations shall be issued in the currency in which such Securities are payable as a result of such election or Conversion Event), the payment of which is unconditionally guaranteed by such government, which, in
either case, are full faith and credit obligations of such government payable in such currency and are not callable or redeemable at the option of the issuer thereof 
 “Holder”, when used with respect to any Security, means in the case of a Registered Security the Person in whose name a Security is registered in the Security Register. 
 “Indebtedness” means any obligation for the payment or repayment of money borrowed. 
 “Indenture” means this instrument as it may from time to time be supplemented or amended by one or more indentures supplemental hereto
entered into pursuant to the applicable provisions hereof and shall include the terms of a particular series of Securities established as contemplated by Section 301. 
 “interest”, when used with respect to a Discounted Security which by its terms bears interest only after Maturity, means interest
payable after Maturity. 
 “Interest Payment Date”, when used with respect to any Security, means the Stated Maturity of an
installment of interest on such Security. 
 “Market Exchange Rate” means (i) for any conversion of Dollars into any
Foreign Currency, the noon (New York City time) buying rate for such Foreign Currency for cable transfers quoted in New York City as certified for customs purposes by the Federal Reserve Bank of New York and (ii) for any conversion of one
Foreign Currency into Dollars or another Foreign Currency, the spot rate at noon local time in the relevant market at which, in accordance with normal banking procedures, the Dollars or Foreign Currency into which conversion is being made could be
purchased with the Foreign Currency from which conversion is being made from major banks located in either New York City, Tokyo, London or any other principal market for Dollars or such purchased Foreign Currency, in each case determined by the
Currency Determination Agent. In the event of the unavailability of any of the exchange rates provided for in the foregoing clauses (i) and (ii) 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, Tokyo, London or other principal market for such 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 

  

 4 

 
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. For purposes of this definition, a “nonresident issuer” shall mean an issuer that is not a resident of the country or countries that issue such
currency. 
 “Maturity”, when used with respect to any Security, means the date on which the principal of that Security
becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption, request for redemption or otherwise. 
 “New York Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in
the City of New York are authorized or obligated by law or executive order to close. 
 “Officer’s Certificate” means a
certificate signed by the President or any Representative Director of the Company or any other officer of the Company designated in a Company Order and delivered to the Trustee for the Securities of any series. 
 “Opinion of Counsel” means, for purposes of Section 1108, a written opinion of independent legal counsel of recognized standing
and, for all other purposes hereof, means a written opinion of counsel, who may be an employee of or counsel to the Company or may be other counsel satisfactory to the Trustee for the Securities of any series. 
 “Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities theretofore authenticated
and delivered under this Indenture, except: 
 (1) Securities theretofore canceled by the Trustee for such Securities or
delivered to such Trustee for cancellation; 
 (2) Securities or portions thereof for whose payment or redemption money in the
necessary amount and in the required currency has been theretofore deposited with the Trustee for such Securities or any Paying Agent (other than the Company or any other obligor upon the Securities) in trust or set aside and segregated in trust by
the Company or any other obligor upon the Securities (if the Company or any other obligor upon the Securities shall act as its own Paying Agent) for the Holders of such Securities; provided, however, that, if such Securities or
portions thereof are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture, or provision therefor satisfactory to such Trustee has been made; and 
 (3) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities have been
authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented proof satisfactory to the Trustee for such Securities that any such Securities are held by bona fide
holders in due course; 
 provided, however, that in determining whether the Holders of the requisite principal amount of Outstanding
Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, (a) 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 for such Securities shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Securities
which a Responsible Officer of such Trustee actually knows to be so owned (based upon written notice delivered to the Trustee by the Company) 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 such Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the Securities or any Affiliate of the
Company or of such other obligor and (b) the principal amount of a Discounted Security that shall be deemed to be Outstanding 

  

 5 

 
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 pursuant to Section 502. 
 “Paying Agent” means any Person authorized by the Company to pay the principal
of (and premium, if any) or interest, if any, on any Securities on behalf of the Company. 
 “Person” means any individual,
corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “Place of Payment”, when used with respect to the Securities of any particular series, means the place or places where the principal of
(and premium, if any) and interest, if any, on the Securities of that series are payable, as contemplated by Section 301. 
 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by that particular Security, and, for the purposes of this definition, any
Security authenticated and delivered under Section 306 in lieu of a mutilated, destroyed, lost or stolen Security shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Security. 
 “Redemption Date”, when used with respect to any Security to be redeemed in whole or in part, means the date fixed for such redemption
by or pursuant to this Indenture. 
 “Redemption Price”, when used with respect to any Security to be redeemed, means an
amount, in the currency in which such Security is denominated or which is otherwise provided for pursuant hereto, equal to the principal amount thereof (and premium, if any, thereon) together with accrued interest, if any, to the Redemption Date.

 “Regular Record Date” for the interest payable on any Interest Payment Date on the Registered Securities of any series,
means the date, if any, specified for that purpose as contemplated by Section 301(4). 
 “Representative Director” of
the Company means a representative director of the Company within the meaning of the Commercial Code. 
 “Responsible
Officer”, means, with respect to the Trustee, any officer within the Worldwide Securities Services group (or any successor group) 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 601(c)(2) and Section 602 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” means securities evidencing unsecured indebtedness of the
Company authenticated and delivered under this Indenture. 
 “Security Register” and “Security Registrar”
have the respective meanings specified in Section 305. 
 A “series” of Securities means all Securities denoted as part
of the same series authorized by or pursuant to a particular Company Resolution. 
 “Special Record Date” for the payment of
any Defaulted Interest on the Registered Securities of any series means a date fixed by the Trustee for such series pursuant to Section 307. 
 “Stated Maturity”, when used with respect to any Security or any installment of principal thereof or interest thereon, means the date specified in such Security as the fixed date on which the principal of such Security or
such installment of principal or interest is due and payable. 
 “Subsidiary” means any corporation of which at least a
majority of all outstanding stock having ordinary voting power in the election of directors of such corporation is at the time, directly or indirectly, owned by the Company or by one or more Subsidiaries or by the Company and one or more
Subsidiaries. 
  

 6 

 “Trust Indenture Act” means the United States Trust Indenture Act of 1939, as amended by
the Trust Indenture Reform Act of 1990, as in force at the date as of which this instrument was executed, except as provided in Section 905. 
 “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument and, subject to the provisions of Article Six hereof, shall also include its successors and assigns as Trustee hereunder.
If there shall be at one time more than one Trustee hereunder, “Trustee” shall mean each such Trustee and shall apply to each such Trustee only with respect to those series of Securities with respect to which it is serving as Trustee.

 “United States” means the United States of America (including the States and the District of Columbia), its territories,
possessions and other areas subject to its jurisdiction (including the Commonwealth of Puerto Rico). 
 “Valuation Date” has
the meaning specified in Section 31l(c). 
 “Yield to Maturity”, when used with respect to any Discounted Security,
means the yield to maturity, if any, set forth on the face thereof. 
 SECTION 102. Compliance Certificates and
Opinions. 
 Upon any application or request by the Company to the Trustee for any series of Securities to take any action under any
provision of this Indenture, the Company shall furnish to such Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with, and an
Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically
required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 
 Every certificate (other than certificates provided pursuant to Section 1005) or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include: 
 (1) a statement that each individual signing such certificate or opinion has read such condition or covenant and the definitions herein
relating thereto; 
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the
statements or opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of each
such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such condition or covenant has been complied with; and 
 (4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been complied with. 
 SECTION 103. Form of Documents Delivered to Trustee. 
 In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such
matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such
Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 
 Any
certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of 

  

 7 

 
reasonable care should know, that the certificate or opinion or representations with respect to matters upon which his certificate or opinion is based are
erroneous. 
 Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or
opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should
know, that the certificate or opinion or representations with respect to such matters are erroneous. 
 Where any Person is required to make,
give or execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 
 SECTION 104. Acts of Holders. 
 (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the Trustee
for the appropriate series of Securities and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of
the Holders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and
(subject to Section 601) conclusive in favor of the Trustee for the appropriate series of Securities and the Company and any agent of such Trustee or the Company, if made in the manner provided in this Section. 
 (b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or
by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by an
officer of a corporation or association or a member of a partnership, or an official of a public or governmental body, on behalf of such corporation, association, partnership or public or governmental body or by a fiduciary, such certificate or
affidavit shall also constitute sufficient proof of his authority. 
 (c) The fact and date of the execution by any Person of any such
instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner which the Trustee for the appropriate series of Securities deems sufficient. 
 (d) The principal amount and serial numbers of Registered Securities held by any Person, and the date of holding the same, shall be proved by the
Security Register. 
 (e) In determining whether the Holders of the requisite principal amount of Outstanding Securities have given any
request, demand, authorization, direction, notice, consent or waiver under this Indenture, the principal amount of a Discounted Security that may be counted in making such determination and that shall be deemed to be Outstanding for such purposes
shall be equal to the amount of the principal thereof that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502 at the time the taking of such action by the Holders of such requisite
principal amount is evidenced to the Trustee for such Securities. 
 (f) Any request, demand, authorization, direction, notice, consent,
waiver or other action by the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of
anything done, omitted 

  

 8 

 
or suffered to be done by the Trustee for such Securities, the Security Registrar, any Paying Agent or the Company in reliance thereon, whether or not
notation of such action is made upon such Security. 
 SECTION 105. Notices, Etc., to Trustee and Company.

 Any request, demand, authorization, direction, notice, consent, waiver or Act of Holders or other documents provided or permitted by this
Indenture to be made upon, given or furnished to, or filed with, 
 (1) the Trustee for a series of Securities by any Holder
or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with such Trustee at its Corporate Trust Office, Attention: Worldwide Securities Services, and shall be deemed given when actually
received by such Corporate Trust Office, or 
 (2) the Company by such Trustee or by any Holder shall be sufficient for every
purpose hereunder (except as provided in paragraphs (3), (4) and (5) of Section 501) if in writing and mailed, first class postage prepaid, to the Company addressed to it at the address of its principal office specified in the first
paragraph of this instrument or at any other address previously furnished in writing to such Trustee by the Company. 
 SECTION 106. Notice to Holders; Waiver. 
 Where this Indenture provides for notice to Holders of any event, such notice shall
be sufficiently given (unless otherwise herein expressly provided) to Holders of Registered Securities if in writing and mailed, first class postage prepaid, to each Holder affected by such event, at his address as it appears in the Security
Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. 
 Where this
Indenture provides for the Company to give notice to Holders, such notice may, at the Company’s request, be given or arranged by the Trustee in the name and at the expense of the Company. Notice for which such request to the Trustee has been
made by the Company shall be deemed to be timely made on the date on which such notice to Holders is required to be made hereunder (the “Notice Date”), if such request is given in writing by the Company to the Trustee, accompanied by the
text of the notice (including therein all or substantially all information available to the Company at the time when such request is given), at least five New York Business Days prior to the Notice Date, regardless of whether such notice is in fact
mailed or published by the Trustee on or before the Notice Date. 
 In any case where notice to Holders of Registered Securities is given by
mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder of a Registered Security shall affect the sufficiency of such notice with respect to other Holders of Registered Securities given as
provided herein. Any notice mailed in the manner prescribed by this Indenture shall be deemed to have been given whether or not received by any particular Holder. In case by reason of the suspension of regular mail service or by reason of any other
cause it shall be impracticable to give such notice to Holders of Registered Securities by mail, then such notification as shall be made with the approval of the Trustee for such Securities shall constitute a sufficient notification for every
purpose hereunder. 
 Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to
receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee for such Securities, but such filing shall not be a condition precedent to
the validity of any action taken in reliance upon such waiver. 
 SECTION 107. Conflict with Trust Indenture Act.

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

 9 

 SECTION 108. Effect of Headings and Table of Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 
 SECTION 109. Successors and Assigns. 
 All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
 SECTION 110. Separability Clause. 
 In any case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or
impaired thereby. 
 SECTION 111. Benefits of Indenture. 
 Nothing in this Indenture or in the Securities, expressed or implied, shall give to any Person, other than the parties hereto, any Paying Agent, any
Security Registrar and their successors hereunder and the Holders of Securities, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 SECTION 112. Governing Law; WAIVER OF TRIAL BY JURY. 
 This Indenture shall be governed by and construed in accordance with the laws of the State of New York except with respect to authorization and execution
by the Company of this Indenture and the Securities, which shall be governed by the laws of Japan. 
 EACH PARTY HERETO HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY 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. 
 SECTION 113. Submission to Jurisdiction; Appointment of Agent for Service; Waivers. 
 To the fullest extent permitted by applicable law, the Company irrevocably submits to the non-exclusive jurisdiction of any Federal or state court in the
Borough of Manhattan in The City of New York, County and State of New York, United States of America, in any suit or proceeding based on or arising under this Indenture and the Securities, and irrevocably agrees that all claims in respect of such
suit or proceeding may be determined in any such court. The Company, to the fullest extent permitted by applicable law, irrevocably and fully waives the defense of an inconvenient forum to the maintenance of such suit or proceeding and hereby
irrevocably designates and appoints Robert E. Hand, Esq., General Counsel, Mitsubishi UFJ Financial Group, Inc., Corporate Governance Division for the United States, 1251 Avenue of the Americas, New York, New York 10020-1104 (the “Authorized
Agent”), as its authorized agent upon whom process may be served in any such suit or proceeding. The Company represents that it has notified the Authorized Agent of such designation and appointment and that the Authorized Agent has accepted the
same in writing. The Company hereby irrevocably authorizes and directs its Authorized Agent to accept such service. The Company further agrees that service of process upon its Authorized Agent and written notice of said service to it mailed by first
class mail or delivered to its Authorized Agent shall be deemed in every respect effective service of process upon it in any such suit or proceeding. Nothing herein shall affect the right of any person to serve process in any other manner permitted
by law. The Company agrees that a final action in any such suit or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other lawful manner. 
 The Company hereby irrevocably waives, to the extent permitted by law, any immunity to jurisdiction to which it may otherwise be entitled (including,
without limitation, immunity to pre-judgment attachment, 

  

 10 

 
post-judgment attachment and execution) in any legal suit, action or proceeding against it arising out of or based on this Indenture, the Securities or the
transactions contemplated hereby. 
 The provisions of this Section 113 are intended to be effective upon the execution of this
Indenture without any further action by the Company or the Trustee and the introduction of a true copy of this Indenture into evidence shall be conclusive and final evidence as to such matters. 
 Each of the Company and the Trustee hereby irrevocably and unconditionally waives trial by jury in any action, claim, suit or proceeding relating to this
Indenture or the Securities. 
 SECTION 114. Non-Business Day. 
 In any case where any Interest Payment Date, Redemption Date or Stated Maturity of a Security of any particular series shall not be a Business Day at any
Place of Payment with respect to Securities of that series, then (notwithstanding any other provision of this Indenture or of the Securities) payment of principal of (and premium, if any) and interest, if any, with respect to such Security need not
be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity,
provided that no interest shall accrue for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be. 
 SECTION 115. Immunity of Stockholders, Officers and Directors. 
 No recourse shall be had for the
payment of the principal of (and premium, if any), or the interest, if any, on any Security of any series, or for any claim based thereon, or upon any obligation, covenant or agreement of this Indenture, against any stockholder, officer, employee or
director, as such, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law or by the
enforcement of any assessment of penalty or otherwise; it being expressly agreed and understood that this Indenture and all the Securities of each series are solely corporate obligations, and that no personal liability whatever shall attach to, or
is incurred by, any stockholder, officer, employee or director, past, present or future, of the Company or of any successor corporation, either directly or indirectly through the Company or any successor corporation, because of the incurring of the
indebtedness hereby authorized or under or by reason of any of the obligations, covenants or agreements contained in this Indenture or in any of the Securities of any series, or to be implied herefrom or therefrom; and that all such personal
liability is hereby expressly released and waived as a condition of, and as part of the consideration for, the execution of this Indenture and the issuance of the Securities of each series. 
 SECTION 116. Certain Matters Relating to Currencies. 
 Subject to Section 311, each reference to any currency in any Security, or in the Company Resolution or supplemental indenture relating thereto,
shall mean only the referenced currency and no other currency. 
 The Trustee shall segregate moneys, funds and accounts held by the Trustee
in one currency from any moneys, funds or accounts held in any other currencies, notwithstanding any provision herein which would otherwise permit the Trustee to commingle such amounts. 
 Whenever any action or Act is to be taken hereunder by the Holders of Securities denominated in different currencies, then for purposes of determining
the principal amount of Securities held by such Holders, the aggregate principal amount of the Securities denominated in a foreign currency shall be deemed to be that amount of Dollars that could be obtained for such principal amount on the basis of
a spot rate of exchange specified to the Trustee for such series in an Officer’s Certificate for such Foreign Currency into Dollars as of the 

  

 11 

 
date the taking of such action or Act by the Holders of the requisite percentage in principal amount of the Securities is evidenced to such Trustee.

 SECTION 117. Language of Notices, Etc. 
 Any request, demand, authorization, direction, notice, consent or waiver required or permitted under this Indenture shall be in the English language, and
any published notice may also be in an official language of the country of publication. 
 ARTICLE TWO 
 SECURITY FORMS 
 SECTION 201. Form Generally. 
 Securities (other than bonds with stock acquisition rights) will be issued only in registered
form. The Securities of each series shall be in the form approved from time to time by or pursuant to a Company Resolution or established 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 or any indenture supplemental hereto and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be
required to comply with any law, with any rule or regulation made pursuant thereto, with any rules of any securities exchange or Depositary thereof or to conform to usage, as may, consistently herewith, be determined by the officers executing such
Securities, as evidenced by their execution of such Securities. 
 Prior to the delivery of a Security of any series in any such form to the
Trustee for the Securities of such series for authentication, the Company shall deliver to such Trustee the following: 
 (1)
The Company Resolution by or pursuant to which such form of Security has been approved; 
 (2) An Officer’s Certificate
dated the date such Certificate is delivered to such Trustee stating that all conditions precedent provided for in this Indenture relating to the authentication and delivery of Securities in such form have been complied with; and 
 (3) An Opinion of Counsel stating (1) that the form of such Securities has been established by or pursuant to a Company Resolution in
accordance with Sections 201 and 301 and in conformity with the provisions of this Indenture; (2) that the terms of such Securities have been established in accordance with Section 301 and in conformity with the other provisions of this
Indenture; (3) that all laws and requirements in Japan and the United States in respect of the execution and delivery by the Company of such Securities have been complied with; (4) this Indenture has been qualified under the Trust
Indenture Act; and (5) that Securities in such form, when (a) completed by appropriate insertions and executed and delivered by the Company to such Trustee for authentication in accordance with this Indenture, (b) authenticated and
delivered by such Trustee in accordance with this Indenture within the authorization as to aggregate principal amount established from time to time by the Board of Directors, and (c) sold in the manner specified in such Opinion of Counsel, will
be the legal, valid and binding obligations of the Company, subject to applicable bankruptcy, reorganization, insolvency and other similar laws generally affecting creditors’ rights, to general equitable principles and to such other
qualifications as such counsel shall conclude do not materially affect the rights of Holders of such Securities. 
 The definitive Securities
shall be printed, lithographed or engraved or produced by any combination of these methods on a steel engraved border or steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Securities, as
evidenced by their execution thereof. 
  

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 SECTION 202. Form of Trustee’s Certificate of Authentication. 
 The Certificate of Authentication on all Securities shall be in substantially the following form: 
 “This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 
  
 Dated:
                                        
             
  
  

			
	 [                                       
 ],
 as Trustee

		
	By	 	  
		 	Authorized Officer”

 SECTION 203. Securities in Global Form. 
 If any Security of a series is issuable in global form, 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 to reflect exchanges. Any endorsement of a Security in global form to reflect the
amount, or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be made by the Trustee and in such manner as shall be specified in such Security. Any instructions by the Company with respect to a Security in
global form, after its initial issuance, shall be in writing but need not comply with Section 102. 
 ARTICLE THREE 
 THE SECURITIES 
 SECTION 301. Title; Payment and Terms. 
 The aggregate principal amount of Securities which may be authenticated and
delivered and Outstanding under this Indenture is unlimited. The Securities may be issued up to the aggregate principal amount of Securities from time to time authorized by or pursuant to a Company Resolution. 
 The Securities may be issued in one or more series, each of which shall be issued pursuant to a Company Resolution. With respect to any particular series
of Securities, the Company Resolution relating thereto shall specify: 
 (1) the title of the Securities of that series (which
shall distinguish the Securities of that series from all other series of Securities); 
 (2) any limit upon the aggregate
principal amount of the Securities of that series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities
of that series pursuant to Section 304, 305, 306, 906 or 1107); 
 (3) the date or dates (or manner of determining the
same) on which the principal of the Securities of that series is payable (which, if so provided in such Company Resolution, may be determined by the Company from time to time and set forth in the Securities of the series issued from time to time);

 (4) the rate or rates (or the manner of calculation thereof) at which the Securities of that series shall bear interest (if
any), the date or dates from which such interest shall accrue (which, in either case or both, if 

  

 13 

 
so provided in such Company Resolution, may be determined by the Company from time to time and set forth in the Securities of the series issued from time to
time), the Interest Payment Dates on which such interest shall be payable (or manner of determining the same) and the Regular Record Date for the interest payable on any Registered Securities on any Interest Payment Date and the extent to which, or
the manner in which, any interest payable on a temporary global Security on an Interest Payment Date will be paid if other than in the manner provided in Section 307; 
 (5) if other than Dollars, the currency in which payment of the principal of (and premium, if any) or interest, if any, on the Securities
of that series shall be made or in which the Securities of that series shall be denominated and the particular provisions applicable thereto in accordance with, in addition to or in lieu of the provisions of Section 311; 
 (6) if the principal of (and premium, if any) and interest, if any, on the Securities of that series are to be payable, at the election of
the Company or a Holder thereof, in a currency other than that in which such Securities are denominated or stated to be payable, in accordance with provisions in addition to or in lieu of, or in accordance with the provisions of, Section 311,
the period or periods within which (including the Election Date), and the 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
denominated or stated to be payable and the currency in which such Securities are to be so payable; 
 (7) the designation of
the original Currency Determination Agent, if any; 
 (8) any provisions for the payment of additional amounts for taxes in
addition to those set forth in Section 1009; 
 (9) if the currency in which the Securities of that series shall be
issuable is Dollars, the denominations in which Securities of that series shall be issuable, if other than denominations of $1,000 and any integral multiple thereof; 
 (10) the place or places where, subject to the provisions of Section 1002, the principal of (and premium, if any) and interest, if
any, on Securities of that series shall be payable, any Registered Securities of that series may be surrendered for registration of transfer, any Securities of that series may be surrendered for exchange, and notices and demands to or upon the
Company in respect of the Securities of that series and this Indenture may be served; 
 (11) the period or periods within
which, the price or prices at which, the currency in which, and the terms and conditions upon which Securities of that series may be redeemed, in whole or in part, at the option of the Company; 
 (12) the obligation, if any, of the Company to redeem or purchase Securities of that series pursuant to any sinking fund or analogous
provisions or at the option of a Holder thereof, and the period or periods within which, the price or prices at which, the currency in which, and the terms and conditions upon which, Securities of that series shall be redeemed or purchased, in whole
or in part, pursuant to such obligation; 
 (13) if other than as set forth in Section 401, provisions for the
satisfaction and discharge of this Indenture with respect to the Securities of that series; 
 (14) whether the Securities of
the series are to be traded in book-entry form and shall be issued in whole or in part in the form of a global Security or Securities and, in such case, the Depositary for such global Security or Securities, and whether such global form shall be
exchangeable in whole or in part for definitive Securities; 
 (15) the date as of which any global Security representing
Outstanding Securities of that series shall be dated if other than the date of original issuance of the first Security of that series to be issued; 
 (16) any Events of Default and covenants of the Company with respect to the Securities of that series, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set
forth herein; 
  

 14 

 (17) if a Person other than JPMorgan Chase Bank, N.A. is to act as Trustee for the
Securities of that series, the name and location of the Corporate Trust Office of such Trustee; 
 (18) if other than the
principal amount thereof, the portion of the principal amount of Securities of that series which shall be payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502; 
 (19) if the Securities of that series do not bear interest, the applicable dates for purposes of Section 701; 
 (20) if applicable, that the Securities of that series, in whole or any specified part, shall not be defeasible pursuant to
Section 1302 or Section 1303 or both such Sections and, if other than by a Company Order, the manner in which any election by the Company to defuse such Securities shall be evidenced; 
 (21) if the Securities of that series will be convertible into other securities of the Company, the terms of such conversion; and

 (22) any other terms of that series (which terms shall not be inconsistent with the provisions of this Indenture).

 All Securities of any particular series shall be substantially identical except as to denomination, rate of interest, Stated Maturity and
the date from which interest, if any, shall accrue, and except as may otherwise be provided in or pursuant to such Company Resolution relating thereto. The terms of such Securities, as set forth above, may be determined by the Company from time to
time if so provided in or established pursuant to the authority granted in a Company Resolution. All Securities of any one series need not be issued at the same time, and unless otherwise provided, a series may be reopened for issuance of additional
Securities of such series. 
 SECTION 302. Denominations and Currencies. 
 Unless otherwise provided with respect to any series of Securities as contemplated by Section 301, any Securities of a series shall be issuable in
denominations of $1,000 and any integral multiple thereof and shall be payable in Dollars. 
 SECTION 303. Execution,
Authentication, Delivery and Dating. 
 The Securities shall be executed on behalf of the Company by its President or one of its
Representative Directors and such execution need not be attested. The signature of any of these officers on the Securities may be manual or facsimile. 
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to
hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for the Securities of such series for authentication, together
with a Company Order for the authentication and delivery of such Securities, and such Trustee, in accordance with the Company Order, shall authenticate and deliver such Securities. If any Security shall be represented by a permanent global Security,
then, for purposes of this Section and Section 304, the notation of a beneficial owner’s interest therein upon original issuance of such Security or upon exchange of a portion of a temporary global Security shall be deemed to be delivery
in connection with the original issuance of such beneficial owner’s interest in such permanent global Security. If all the Securities of any one series are not to be issued at one time and if a Company Resolution relating to such Securities
shall so permit, such Company Order may set forth procedures acceptable to the Trustee for the issuance of such Securities, including, without 

  

 15 

 
limitation, procedures with respect to interest rate, Stated Maturity, date of issuance and date from which interest, if any, shall accrue. 
 Notwithstanding any contrary provision herein, if all Securities of a series are not to be originally issued at one time, it shall not be necessary to
deliver the Company Resolution, Officer’s Certificate and Opinion of Counsel otherwise required pursuant to Sections 102 and 201 at or prior to the time of authentication of each Security of such series if such documents are delivered at or
prior to the authentication upon original issuance of the first Security of such series to be issued. 
 Each Security shall be dated the
date of its authentication. 
 No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose
unless there appears on such Security a certificate of authentication substantially in the form provided for herein manually executed by the Trustee for such Security or on its behalf pursuant to Section 614, and such certificate upon any
Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder. 
 Each
Depositary designated pursuant to Section 301 for a global Security in registered form must, at the time of its designation and at all times while it serves as Depositary, be a clearing agency registered under the United States Securities
Exchange Act of 1934, as amended, and any other applicable statute or regulation. 
 SECTION 304. Temporary Securities
and Exchange of Securities. 
 Pending the preparation of definitive Securities of any particular series, the Company may execute, and
upon Company Order the Trustee for the Securities of such series shall authenticate and deliver, in the manner specified in Section 303, temporary Securities which are printed, lithographed, typewritten, photocopied or otherwise produced, in
any denomination, with like terms and conditions as the definitive Securities of like series in lieu of which they are issued in registered form, and with such appropriate insertions, omissions, substitutions and other variations as the officers
executing such Securities may determine, as evidenced by their execution of such Securities. Any such temporary Securities may be in global form, representing such of the Outstanding Securities of such series as shall be specified therein.

 If temporary Securities of any particular series are issued, the Company will cause definitive Securities of that series to be prepared
without unreasonable delay. After the preparation of such definitive Securities, the temporary Securities of such series shall be exchangeable for such definitive Securities and of a like Stated Maturity and with like terms and provisions upon
surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any
particular series, the Company shall execute and (in accordance with a Company Order delivered at or prior to the authentication of the first definitive Security of such series) the Trustee for the Securities of such series shall authenticate and
deliver in exchange therefor a like principal amount of definitive Securities of authorized denominations of the same series and of a like Stated Maturity and with like terms and provisions. Until exchanged as hereinabove provided, the temporary
Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of the same series and with like terms and conditions, except as to payment of interest, if any, authenticated and
delivered hereunder. 
 SECTION 305. Registration, Registration of Transfer and Exchange. 
 The Company shall cause to be kept at the Corporate Trust Office of the Trustee for the Securities of each series a register (the register maintained in
such office being herein sometimes referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities and of transfers of Securities.
The Trustee for the Securities of each series is hereby 

  

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initially appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities of such series as herein provided.

 Upon surrender for registration of transfer of any Security of any particular series at the office or agency of the Company in a Place of
Payment for that series, the Company shall execute, and the Trustee for the Securities of each series shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of any authorized
denominations, and of a like Stated Maturity and of a like series and aggregate principal amount and with like terms and conditions. 
 Except as set forth below, at the option of the Holder, Securities of any particular series may be exchanged for other Securities of any authorized denominations, and of a like Stated Maturity and of a like series and aggregate principal
amount and with like terms and conditions, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee for such Securities shall
authenticate and deliver, the Securities, which the Holder making the exchange is entitled to receive. 
 Notwithstanding any other provision
of this Section or Section 304, unless and until it is exchanged in whole or in part for Securities in definitive form, a global Security representing all or a portion of the Securities of a series may not be transferred except as a whole by
the Depositary for such series to a nominee of such Depositary or by a nominee of such Depositary to such Depositary or another nominee of such Depositary or by such Depositary or any such nominee to a successor Depositary for such series or a
nominee of such successor Depositary. 
 Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee
for such Securities shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 
 If at any
time the Depositary for Securities of a series notifies the Company that it is unwilling or unable to continue as Depositary for the Securities of such series or if at any time the Depositary for the Securities for such series shall no longer be
eligible under Section 303, the Company shall appoint a successor Depositary with respect to the Securities for such series. If a successor Depositary for the Securities of such series is not appointed by the Company within 90 days after the
Company receives such notice or becomes aware of such ineligibility, the Company’s election pursuant to Section 301 shall no longer be effective with respect to the Securities for such series and the Company will execute, and the Trustee,
upon receipt of a Company Order for the authentication and delivery of definitive Securities of such series, will authenticate and deliver Securities of such series in definitive form in an aggregate principal amount equal to the principal amount of
the global Security or Securities representing such series in exchange for such global Security or Securities. 
 The Company may at any time
and in its sole discretion determine that the Securities of any series issued in the form of one or more global Securities shall no longer be represented by such global Security or Securities. In such event the Company will execute, and the Trustee,
upon receipt of a Company Order for the authentication and delivery of definitive Securities of such series, will authenticate and deliver, Securities of such series in definitive form and in an aggregate principal amount equal to the principal
amount of the global Security or Securities representing such series in exchange for such global Security or Securities. 
 If specified by
the Company pursuant to Section 301 with respect to a series of Securities, the Depositary for such series of Securities may surrender a global Security for such series of Securities in exchange in whole or in part for Securities of such series
of like tenor and terms and in definitive form on such terms as are acceptable to the Company and such Depositary. Thereupon the Company shall execute, and the Trustee shall authenticate and deliver (i) to each Person specified by such
Depositary a new Security or Securities of the same series, of like tenor and terms and of any authorized denomination as requested by such Person in aggregate principal amount equal to and in exchange for such Person’s beneficial interest in
the global Security; and (ii) to such Depositary a 

  

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new global Security of like tenor and terms and in a denomination equal to the difference, if any, between the principal amount of the surrendered global
Security and the aggregate principal amount of Securities delivered to Holders thereof. 
 Upon the exchange of a global Security for
Securities in definitive form, such global Security shall be cancelled by the Trustee. Securities issued in exchange for a global Security pursuant to this Section shall be registered in such names and in such authorized denominations as the
Depositary for such global Security, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee in writing. The Trustee shall deliver such Security to the Persons in whose names such Securities are so
registered. 
 All Securities issued upon any registration of transfer or exchange of Securities shall be the valid obligations of the
Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Securities surrendered upon such registration of transfer or exchange. 
 Every Security presented or surrendered for registration of transfer or exchange shall (if so required by the Company or the Trustee for such Security) be duly endorsed, or be accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar for such series duly executed, by the Holder thereof or his attorney duly authorized in writing. 
 No service charge shall be made for any registration of transfer or exchange 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 304, 906 or 1107 not involving any transfer. 
 The Company shall not be required (i) to issue, register the transfer of or exchange Securities of any series during a period beginning at the opening of business 15 days before the day of the mailing of a notice
of redemption of Securities of that series selected for redemption under Section 1104 and ending at the close of business on the day of the mailing of the relevant notice of redemption, or (ii) to register the transfer of or exchange any
Security so selected for redemption as a whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 The
Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including
any transfers between or among Depositary participants or 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, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities. 
 If (i) any mutilated Security is surrendered to the Trustee for such Security or the Company and the Trustee for a Security receives evidence to its
satisfaction of the destruction, loss or theft of any Security and (ii) there is delivered to the Company and such Trustee such security or indemnity as may be required by them to save each of them and any agent of either of them harmless,
then, in the absence of notice to the Company or such Trustee that such Security has been acquired by a protected purchaser, the Company shall execute and upon its request such Trustee shall authenticate and deliver, in lieu of any such destroyed,
lost or stolen Security or in exchange for such mutilated Security, a new Security of the same series and in a like principal amount and of a like Stated Maturity and with like terms and conditions appertaining to such mutilated, destroyed, lost or
stolen Security. 
 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the
Company in its discretion may, instead of issuing a new Security, pay such Security (without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the 

  

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Company and the Trustee for such Security such security or indemnity as may be required by them to save each of them harmless, and in case of destruction,
loss or theft, evidence satisfactory to the Company and such Trustee and any agent of either of them of the destruction, loss or theft of such Security and the ownership thereof. 
 Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in relation thereto and any other expenses (including all fees and expenses of the Trustee for such Security) connected therewith. 
 Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security or in exchange for any mutilated Security shall constitute an original 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 this Indenture equally and proportionately with any and all other Securities of
the same series duly issued hereunder. 
 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other
rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 
 SECTION 307. Payment of Interest; Interest Rights Preserved. 
 Interest on any Security which is payable, and is punctually
paid or duly provided for, on any Interest Payment Date shall, if so provided in such Security, be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record
Date for such interest payment. 
 Unless otherwise provided with respect to the Securities of any series, payment of interest may be made at
the option of the Company, by check mailed or delivered to the address of the Person entitled thereto as such address shall appear in the Security Register or by transfer to an account maintained by the payee with a bank located inside the United
States. 
 Any interest on any Security of any particular series which is due and payable, but is not punctually paid or duly provided for,
on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered Holder on the relevant Regular Record Date by virtue of having been such Holder; and such Defaulted Interest may be
paid by the Company, at its election in each case, as provided in clause (1) or (2) below: 
 (1) The Company may
elect to make payment of any Defaulted Interest to the Persons in whose names the Securities of that series (or their respective Predecessor Securities) are at the close of business on a Special Record Date for the payment of such Defaulted
Interest, which shall be fixed in the following manner. The Company shall notify the Trustee for the Securities of such series in writing of the amount of Defaulted Interest proposed to be paid on each Security of that series and the date of the
proposed payment, and at the same time the Company shall deposit with such Trustee an amount of money in the currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities
of such series and except as provided in Sections 311(b), 31l(d) and 31l(e)), equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to such Trustee for such deposit prior to
the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon such Trustee shall fix a Special Record Date for the payment of
such Defaulted Interest which shall not be more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by such Trustee of the notice of the proposed payment. Such Trustee shall
promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage
prepaid, to each Holder of Securities of that 

  

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series at his address as it appears in the Security Register not less than 10 days prior to such Special Record Date. The Company may cause a similar notice
to be published at least once in a newspaper published in the English language, customarily on each Business Day and of general circulation in New York, New York, but such publication shall not be a condition precedent to the establishment of 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 shall be paid to the Persons in whose names the Securities of that series
(or their respective Predecessor Securities) are on such Special Record Date and shall no longer be payable pursuant to the following clause (2). 
 (2) The Company may make payment of any Defaulted Interest on Securities of any particular series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities
may be listed, and upon such notice as may be required by such exchange, if, after notice is given by the Company to the Trustee for the Securities of such series of the proposed manner of payment pursuant to this clause, such manner of payment
shall be deemed practicable by such Trustee. 
 Subject to the foregoing provisions of this Section and Section 305, each Security
delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security. 
 SECTION 308. Persons Deemed Owners. 
 Prior to due presentment of a Security for registration of transfer, the Company, the Trustee for such Security and any agent of the Company or such Trustee may treat the Person in whose name any such Security is
registered as the owner of such Security for the purpose of receiving payment of principal of (and premium, if any) and (subject to Section 307) interest, if any, on such Security and for all other purposes whatsoever, whether or not such
Security be overdue, and neither the Company, such Trustee nor any agent of the Company or such Trustee shall be affected by notice to the contrary. 
 None of the Company, the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership
interests of a global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 
 SECTION 309. Cancellation. 
 All Securities surrendered for payment, redemption, registration of
transfer or exchange, or delivered in satisfaction of any sinking fund payment, shall, if surrendered to any Person other than the Trustee for such Securities, be delivered to such Trustee and, shall be promptly canceled by it. The Company may at
any time deliver to the Trustee for Securities of a series for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be
promptly canceled by such Trustee. Notwithstanding any other provision of this Indenture to the contrary, in the case of a series, all the Securities of which are not to be originally issued at one time, a Security of such series shall not be deemed
to have been Outstanding at any time hereunder if and to the extent that, subsequent to the authentication and delivery thereof, such Security is delivered to the Trustee for such Security for cancellation by the Company or any agent thereof upon
the failure of the original purchaser thereof to make payment therefor against delivery thereof, and any Security so delivered to such Trustee shall be promptly canceled by it. No Securities shall be authenticated in lieu of or in exchange for any
Securities canceled as provided in this Section, except as expressly permitted by this Indenture. All canceled Securities held by the Trustee for such Securities shall be disposed of by such Trustee in accordance with its standard procedures and a
certificate of disposition evidencing such disposition of Securities shall be provided to the Company by such Trustee. Permanent global Securities shall not be disposed of until exchanged in full for definitive Securities or until payment thereon is
made in full. 
  

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 SECTION 310. Computation of Interest. 
 Except as otherwise specified as contemplated by Section 301 for Securities of any particular 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 311. Currency and Manner of Payments in
Respect of Securities. 
 (a) With respect to Securities of any series not permitting the election provided for in paragraph
(b) below or the Holders of which have not made the election provided for in paragraph (b) below, except as provided in paragraph (d) below, payment of the principal of (and premium, if any) and interest, if any, on any Security of
such series will be made in the currency in which such Security is payable. 
 (b) It may be provided pursuant to Section 301 with
respect to Securities of any series that Holders shall have the option, subject to paragraphs (d) and (e) below, to receive payments of principal of (and premium, if any) or interest, if any, on such Securities in any of the currencies
which may be designated for such election by delivering to the Trustee for such series of Securities a written election with signature guarantees, not later than the close of business on the Election Date immediately preceding the applicable payment
date. If a Holder so elects to receive such payments in any such currency, such election will remain in effect for such Holder until changed by such Holder by written notice to the Trustee for such series of Securities (but any such change must be
made not later than the close of business on the Election Date immediately preceding the next payment date to be effective for the payment to be made on such payment date and no such change of election may be made with respect to payments to be made
on any Security of such series with respect to which an Event of Default has occurred or notice of redemption has been given by the Company pursuant to Article Eleven). In the event any Holder makes any such election pursuant to the preceding
sentence, such election will not be effective on any transferee of such Holder and such transferee shall be paid in the currency indicated pursuant to paragraph (a) above unless such transferee makes an election pursuant to the preceding
sentence, provided, however, that such election, if in effect while funds are on deposit with respect to the Securities of such series as described in Section 401(a)(1)(B) or Section 1304, will be effective on any transferee
of such Holder unless otherwise specified pursuant to Section 301 for the Securities of such series. Any Holder of any such Security who shall not have delivered any such election to the Trustee of such series of Securities not later than the
close of business on the applicable Election Date will be paid the amount due on the applicable payment date in the relevant currency as provided in paragraph (a) of this Section 311. In no case may a Holder of Securities of any series
elect, or change an election, to receive payments in any currency as described in this Section 311(b) following a deposit of funds with respect to the Securities of such series as described in Section 401(a)(1)(B) or Section 1304. The
Trustee for each such series of Securities shall notify the Currency Determination Agent as soon as practicable after the Election Date of the aggregate principal amount of Securities for which Holders have made such written election. 
 (c) If the election referred to in paragraph (b) above has been provided for pursuant to Section 301, then not later than the fourth Business
Day after the Regular Record Date or Special Record Date, as the case may be, for each payment date for Securities of any series, the Currency Determination Agent will deliver to the Company a written notice specifying, in the currency in which
Securities of such series are payable, the respective aggregate amounts of principal of (and premium, if any) and interest, if any, on the Securities to be made on such payment date, specifying the amounts in such currency so payable in respect of
the Securities of such series as to which the Holders thereof shall have elected to be paid in a currency other than that in which such series is denominated as provided in paragraph (b) above. If the election referred to in paragraph
(b) above has been provided for pursuant to Section 301 and if at least one Holder has made such election, then, on the second Business Day preceding such payment date the Company will deliver to the Trustee for such series of Securities
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 a currency as
provided in paragraph (b) above shall, unless otherwise provided pursuant to Section 301, be 

  

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determined by the Company on the basis of the applicable Market Exchange Rate in effect on the third Business Day (the “Valuation Date”)
immediately preceding each payment date. 
 (d) If a Conversion Event occurs with respect to a Foreign Currency in which any of the
Securities are denominated or payable other than pursuant to an election provided for pursuant to paragraph (b) above, then with respect to each date for the payment of principal of (and premium, if any) and interest, if any, on the applicable
Securities denominated or payable in such Foreign Currency occurring after the last date on which such Foreign Currency was available (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 of each such series of Securities and by such Trustee or any Paying Agent to the Holders of such Securities with respect to such payment date shall be the Dollar Equivalent of the Foreign
Currency as determined by the Currency Determination Agent in the manner provided in paragraph (f) below. 
 (e) If the Holder of a
Security denominated in any currency shall have elected to be paid in another currency as provided in paragraph (b) above, 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. 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 as
provided in paragraph (d) of this Section 311. 
 (f) The “Dollar Equivalent of the Foreign Currency” shall be determined
by the Currency Determination Agent and shall be obtained for each subsequent payment after the Conversion Date by converting the specified Foreign Currency into Dollars at the Market Exchange Rate on the Conversion Date. 
 (g) For purposes of this Section 311, “Election Date” shall mean the date for any series of Securities as specified pursuant to
Section 301(14) by which the written election referred to in Section 311(b) may be made, such date to be not later than the Regular Record Date or Special Record Date, as the case may be, for the earliest payment for which such election
may be effective: 
 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 Trustee for the appropriate series of
Securities and all Holders of such Securities denominated or payable in the relevant currency. The Currency Determination Agent shall promptly give written notice to the Company and the Trustee for the appropriate series of Securities of any such
decision or determination. 
 In the event of a Conversion Event with respect to a Foreign Currency, the Company, after learning thereof,
will immediately give written notice thereof to the Trustee of the appropriate series of Securities and Currency Determination Agent (and such Trustee will promptly thereafter give notice in the manner provided in Section 106 to the Holders)
specifying the Conversion Date. 
 The Trustee of the appropriate series of Securities shall be fully justified and protected in relying and
acting upon information 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. 
 SECTION 312. Appointment and Resignation of Successor Currency Determination Agent. 
 (a) If and so long as the Securities of any series (i) are denominated in a currency other than Dollars or (ii) may be payable in a currency
other than Dollars, 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, a Currency Determination Agent. The Company will cause
the Currency Determination Agent to make the necessary foreign exchange determinations at the time and in the manner specified pursuant to Section 301 for 

  

 22 

 
the purpose of determining the applicable rate of exchange and for the purpose of converting the issued currency into the applicable payment currency for the
payment of principal (and premium if any) and interest, if any, pursuant to Section 311. 
 (b) No resignation of the Currency
Determination Agent and no appointment of a successor currency Determination Agent pursuant to this Section shall become effective until the acceptance of appointment by the successor Currency Determination Agent as evidenced by a written instrument
delivered to the Company and the Trustee of the appropriate series of Securities accepting such appointment executed by the successor Currency Determination Agent. 
 (c) If the Currency Determination Agent shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of the Currency Determination Agent for any cause, with respect to the
Securities of one or more series, the Company, by an Officer’s Certificate, shall promptly appoint a successor Currency Determination Agent or Currency Determination Agents with respect to the Securities of that or those series (it being
understood that any such successor Currency Determination Agent may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall only be one Currency Determination Agent with respect to the
Securities of any particular series). 
 SECTION 313. CUSIP Numbers. 
 The Company in issuing the Securities may use “CUSIP,” “ISIN” or other similar numbers (if then generally in use), and, if so, the
Trustee shall use “CUSIP,” “ISIN” or other similar numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either
as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission
of such numbers. The Company will promptly notify the Trustee of any change in the “CUSIP,” “ISIN” or other similar numbers. 
 SECTION 314. Japanese Withholding Tax. 
 (a) In compliance with Japanese tax laws and regulations and
the practices of tax authorities in Japan, in respect of any interest payment on the Securities issued in book-entry form hereunder, the Company and any Paying Agent shall act in accordance with the procedures and forms set out in the memorandum
dated January 28, 2000 prepared by the International Capital Market Association (formerly known as the International Primary Markets Association) (as may be amended or supplemented from time to time by notice from such association) entitled
“Compliance Procedures for International Securities Offerings by Japanese Issuers—Securities Held Through DTC” (the “DTC Procedures”) if DTC is acting as Depositary with respect to the Securities or, in accordance with such
other similar procedures as may be established by another Depositary. Except as otherwise provided in this Indenture, any such Paying Agent shall be responsible only for performing such services as are specifically provided for in the DTC procedures
or such other procedures actually known by a Responsible Officer of the Paying Agent, as applicable and as may be amended or modified and communicated to a Responsible Officer of the Paying Agent from time to time. 
 Paying Agent and the Company may rely on the information provided in a claim for exemption from Japanese withholding taxes and other documentation in the
absence of actual knowledge to the contrary. If any interest payment on the Securities is due to be made hereunder and if and so long as payments of interest on the Securities may be made without deduction or withholding for or on account of
Japanese tax only upon receipt of certifications, claims for exemption, notifications or other documentation in compliance with Japanese tax law requirements (“tax documentation”), the relevant Paying Agent shall (i) collect any tax
documentation it receives from clearing organizations (or holders of the Securities if certified notes representing such Securities have been issued); and (ii) promptly deliver such tax documentation and information so received to the Company for
filing with the relevant tax office. The Company and each Paying Agent may rely on the information provided in tax documentation received (including where relevant, supporting documentation) in the absence of actual knowledge that such information
is incorrect. 
  

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 So long as the Special Taxation Measures Law of Japan or any successor laws thereto require the Company
to submit “claims for exemption” or “interest recipient confirmations” to its District Tax Office in Japan in order for holders of Securities to establish a claim for exemption, the Company shall promptly make such submissions to
the extent holders have provided the relevant tax documentation. 
 (b) Neither the Company, the Trustee, the registrar nor any of the Paying
Agents will have any liability for any withholding of tax arising as a result of a late delivery of the required Securityholder tax documentation or incorrectly completed Securityholder tax documentation; provided that if a beneficial owner
of the Securities satisfies the requirements for claiming an exemption from Japanese withholding tax after the date on which an amount in respect of such tax is withheld and before the date on which the tax is actually paid to the Japanese tax
authorities, then the Company or the Paying Agent acting at the written direction of the Company may, to the extent reasonably practicable, repay the amount withheld (after deduction of reasonable costs, including amounts in respect of changes in
foreign exchange rates) to the holder. 
 ARTICLE FOUR 
 SATISFACTION AND DISCHARGE 
 SECTION 401. Satisfaction and Discharge of
Securities of any Series. 
 (a) The Company shall be deemed to have satisfied and discharged the entire indebtedness on all the
Securities of any particular series and, so long as no Event of Default shall be continuing, the Trustee for the Securities of such series, upon Company Request and at the expense of the Company, shall execute proper instruments acknowledging
satisfaction and discharge of such indebtedness, when: 
 (1) either 
 (A) all Securities of such series theretofore authenticated and delivered appertaining thereto (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 306 and (ii) Securities of such series for whose payment money has theretofore been deposited in trust or segregated and held in
trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in the last paragraph of Section 1003) have been delivered to such Trustee for cancellation; or 
 (B) all such Securities of that series not theretofore delivered to the Trustee or its agent for cancellation: 
 (i) have become due and payable, or 
 (ii) will become due and payable at their Stated Maturity within one year, or 
 (iii) 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, in the case of Clause (B)(i), (ii) or (iii) above, has deposited or caused to be deposited with such Trustee as trust funds in
trust an amount in the currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series and except as provided in Sections 311(b), 311(d) and 311(e), in which
case the deposit to be made with respect to Securities for which an election has occurred pursuant to Section 311(b) or a Conversion Event has occurred as provided in Sections 311(d) and 311(e), shall be made in the currency in which such
Securities are payable as a result of such election or Conversion Event), sufficient to pay and discharge the entire indebtedness on all such Outstanding Securities of such series for principal (and premium, if any) and interest, if any, to the date
of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or any Redemption Date as contemplated by Section 402, as the case may be; 
  

 24 

 (2) the Company has paid or caused to be paid all other sums payable with respect to the
Securities of such series (including any amounts owed to the Trustee with respect to such series and payable by the Company hereunder); and 
 (3) the Company has delivered to such Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of the
entire indebtedness on all Securities of such series have been complied with. 
 (b) Upon the satisfaction of the conditions set forth in
this Section 401 with respect to all the Securities of any series, the terms and conditions of such series, including the terms and conditions with respect thereto set forth in this Indenture, shall no longer be binding upon, or applicable to,
the Company, and the Holders of the Securities of such series shall look for payment only to the funds or obligations deposited with the Trustee pursuant to Section 401(a)(1)(B); provided, however, that in no event shall the
Company be discharged from (i) any payment obligations in respect of Securities of such series which are deemed not to be Outstanding under clause (3) of the definition thereof if such obligations continue to be valid obligations of the
Company under applicable law, (ii) from any obligations under Sections 402(b), 607, 610 and 1303 and (iii) from any obligations under Sections 305 and 306 (except that Securities of such series issued upon registration of transfer or
exchange or in lieu of mutilated, destroyed, lost or stolen Securities shall not be obligations of the Company) and Sections 311, 701 and 1002. Notwithstanding the satisfaction of the conditions set forth in this Section 401 with respect to all
the Securities of any series not denominated in Dollars, upon the happening of any Conversion Event the Company shall be obligated to make the payments in Dollars required by Section 311(d) to the extent that the Currency Determination Agent is
unable to convert any Foreign Currency in its possession pursuant to Section 401(a)(1)(B) into the Dollar Equivalent of the Foreign Currency. If, after the deposit referred to in Section 401 has been made, (x) the Holder of a Security
is entitled to, and does, elect pursuant to Section 311(b) to receive payment in a currency other than that in which the deposit pursuant to Section 401 was made, or (y) a Conversion Event occurs as contemplated in Section 311(d)
or 311(e), then the indebtedness represented by such Security shall be fully discharged to the extent that the deposit made with respect to such Security shall be converted into the currency in which such Security is payable at the Dollar Equivalent
of the Foreign Currency. The Trustee for such series of Securities shall return to the Company any non-converted funds or securities in its possession after such payments have been made. 
 SECTION 402. Application of Trust Money. 
 All money and obligations deposited with the Trustee for any series of Securities pursuant to Section 401 shall be held in trust and shall be applied by such Trustee, in accordance with the provisions of the
Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent), to the Persons entitled thereto, of the principal of (and premium, if any) and interest, if any, on
the Securities for the payment of which such money and obligations have been deposited with such Trustee. 
 SECTION 403.
Satisfaction and Discharge of Indenture. 
 Upon compliance by the Company with the provisions of Section 401 as to the
satisfaction and discharge of each series of Securities issued hereunder, and if the Company has paid or caused to be paid all other sums payable under this Indenture, this Indenture shall cease to be of any further effect (except as otherwise
provided herein). Upon Company Request and receipt of an Opinion of Counsel and an Officer’s Certificate complying with the provisions of Section 102, the Trustees for all series of Securities (at the expense of the Company) shall execute
proper instruments acknowledging satisfaction and discharge of this Indenture. 
 Notwithstanding the satisfaction and discharge of this
Indenture, any obligations of the Company under Sections 304, 305, 306, 311, 402(b), 516, 607, 610, 701, 1002 and 1009 and the obligations of the Trustee for any series of Securities under Section 402 shall survive. 
 SECTION 404. Reinstatement. 
 If the Trustee for any series of Securities is unable to apply any of the amounts (for purposes of this Section 404, “Amounts”) described in Section 401(a)(1)(B) in accordance with the provisions of Section 401 by
reason of any legal proceeding or any order or judgment of any court or governmental authority enjoining, 

  

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restraining or otherwise prohibiting such application, the Company’s obligations under this Indenture and the Securities of such series appertaining
thereto shall be revived and reinstated as though no deposit had occurred pursuant to Section 401 until such time as the Trustee for such series is permitted to apply all such Amounts in accordance with the provisions of Section 401;
provided, however, that if, due to the reinstatement of its rights or obligations hereunder, the Company has made any payment of principal of (or premium, if any) or interest, if any, on such Securities, the Company shall be subrogated
to the rights of the Holders of such Securities to receive payment from such Amounts held by the Trustee for such series. 
 ARTICLE FIVE

 REMEDIES 
 SECTION 501. Events of Default. 
 “Event of Default” wherever used herein with respect to any particular
series of Securities means any one of the following events and such other events as may be established with respect to the Securities of such series as contemplated by Section 301 (whatever the reason for such Event of Default and whether it
shall be voluntary or involuntary or be effected by operation of law pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 
 (1) default in the payment of any installment of interest upon any Security of that series when it becomes due and payable, and
continuance of such default for a period of 30 days; or 
 (2) default in the payment of the principal of (or premium, if any,
on) any Security of that series at its Maturity or default in the deposit of any sinking fund payment when and as due by the terms of any Security of that series; or 
 (3) a default under any Indebtedness which default shall have resulted (i) in a failure to pay an aggregate principal amount
exceeding $100,000,000 of such Indebtedness at the later of final maturity or upon the expiration of any applicable grace period, or (ii) in such indebtedness in an aggregate principal amount exceeding $100,000,000 becoming or being declared
due and payable prior to the date on which it would otherwise have become due and payable, and such acceleration shall not be rescinded or annulled or such indebtedness shall not have been discharged, in either case, within a period of fifteen days
after there has been given, by registered or certified mail in the manner set forth in Section 105, to the Company by the Trustee for the Securities of such series or to the Company and such Trustee by the Holders of at least 25% in principal
amount of the Outstanding Securities of such series a written notice specifying such event of default and requiring the Company 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. Subject to the provisions of Sections 601 and 602, a Trustee shall not be deemed to have knowledge of any Event of Default or default unless either (A) a Responsible Officer of such
Trustee assigned to its Corporate Trust Office shall have actual knowledge of such default or (B) the Trustee shall have received written notice thereof from the Company or from the Holders of 10% or more in principal amount of the Outstanding
Securities of such series and such notice references the Securities and this Indenture. Any such default shall not be deemed to have occurred if and so long as the Company shall contest the validity thereof in good faith by appropriate proceedings;
or 
 (4) default in the performance of, or breach of, any covenant or warranty of the Company in respect of any Security of
that series contained in this Indenture or in such Securities (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with) or in the applicable Company Resolution under which
such series is issued as contemplated by Section 301 and continuance of such default or breach for a period of 90 days after there has been given to the Company by the Trustee for the Securities of such series or to the Company and such Trustee
by the Holders of at least 25% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default”
hereunder; or 
  

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 (5) the Company as a whole shall commence any case or proceeding seeking to have an order
for relief entered on its behalf as debtor or to adjudicate it as bankrupt or insolvent or seeking reorganization, civil rehabilitation, liquidation, dissolution, winding-up, arrangement or readjustment of its debts or any other relief under any
bankruptcy, insolvency, reorganization, civil rehabilitation, liquidation, dissolution, arrangement or readjustment of debt or other similar act or law of any jurisdiction, Japanese or foreign, now or hereafter existing; or the Company shall apply
for a receiver, custodian or trustee (other than any trustee appointed as a mortgagee or secured party in connection with the issuance of indebtedness for borrowed money of the Company) of the Company as a whole or for all or a substantial part of
its property; or the Company shall make a general assignment for the benefit of creditors; or the Company shall take any corporate action in furtherance of any of the foregoing; or 
 (6) any case or proceeding against the Company shall be commenced seeking to have an order for relief entered against it or to adjudicate
the Company as a whole as bankrupt or insolvent or seeking reorganization, civil rehabilitation, liquidation, dissolution, winding-up, arrangement or readjustment of its debts or any other relief under any bankruptcy, insolvency, reorganization,
civil rehabilitation, liquidation, dissolution, arrangement or readjustment of debt or other similar act or law of any jurisdiction, Japanese or foreign, now or hereafter existing; or a receiver, custodian or trustee (other than any trustee
appointed as a mortgagee or secured party in connection with the issuance of indebtedness for borrowed money of the Company) of the Company as a whole or for all or a substantial part of its property shall be appointed in any such case or
proceeding; and such case or proceeding (A) results in the entry of an order for relief or a similar order against it or (B) shall continue unstayed and in effect for a period of 60 consecutive days; or 
 (7) any other Event of Default provided in the Security. 
 SECTION 502. Acceleration of Maturity; Rescission and Annulment. 
 If an Event of Default with respect to any particular series of Securities occurs and is continuing, then and in every such case either the Trustee for
the Securities of such series or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the entire principal amount (or, in the case of Discounted Securities, such lesser amount as may be
provided for in the terms of that series) of all the Securities of that series, to be due and payable immediately, by a notice in writing to the Company (and to such Trustee if given by Holders), and upon any such declaration of acceleration such
principal or such lesser amount, as the case may be, together with accrued interest and all other amounts owing hereunder, shall become immediately due and payable, without any other presentment, demand, protest or notice of any kind, all of which
are hereby expressly waived. 
 At any time after such a declaration of acceleration has been made and before a judgment or decree for
payment of the money due has been obtained by the Trustee for the Securities of any series as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the
Company and such Trustee, may rescind and annul such declaration and its consequences if: 
 (1) the Company has paid or
deposited with such Trustee a sum sufficient to pay in the currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series and except as provided in Sections
311(b), 31l(d), and 31l(e)) 
 (A) all Defaulted Interest on all Securities of that series; 
 (B) the principal of (and premium, if any, on) any Securities of that series which have become due otherwise than by such declaration of
acceleration and interest thereon from the date such principal became due at a rate per annum equal to the rate borne by the Securities of such series (or, in the case of Discounted Securities, the Securities’ Yield to Maturity), to the extent
that the payment of such interest shall be legally enforceable; 
 (C) to the extent that payment of such interest is lawful,
interest upon Defaulted Interest at a rate per annum equal to the rate borne by the Securities of such series (or, in the case of Discounted Securities, the Securities’ Yield to Maturity); and 
  

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 (D) all sums paid or advanced by such Trustee hereunder and the reasonable compensation,
expenses, disbursements and advances of such Trustee, its agents and counsel and all other amounts due to such Trustee under Section 607; and 
 (2) all Events of Default with respect to the Securities of such series, other than the nonpayment of the principal of Securities of that series which has become due solely by such acceleration, have been cured or
waived as provided in Section 513. 
 No such rescission shall affect any subsequent default or impair any right consequent thereon. 
 SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee. 
 The Company covenants that if: 
 (1) default is made in the payment of any interest upon any Security of any series when such interest becomes due and payable and such default continues for a period of 30 days; or 
 (2) default is made in the payment of the principal of (or premium, if any, on) any Security of any series at its Maturity; 
 the Company will, upon demand of the Trustee for the Securities of such series, pay to it, for the benefit of the Holders of such Securities, the whole amount then due
and payable on such Securities for principal (and premium if any) and interest, if any, with interest upon the overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, upon any overdue
installments of interest at a rate per annum equal to the rate borne by such Securities (or, in the case of Discounted Securities, the Securities’ Yield to Maturity); and, in addition thereto, such further amount as shall be sufficient to cover
the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and counsel and all other amounts due to such Trustee under Section 607. 
 If the Company fails to pay such amounts forthwith upon such demand, such Trustee, in its own name and as trustee of an express trust, may institute a
judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceedings to judgment or final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys
adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon the Securities, wherever situated. 
 If an Event of Default with respect to Securities of any particular series occurs and is continuing, the Trustee for the Securities of such series may in its discretion proceed to protect and enforce its rights and
the rights of the Holders of Securities of that series by such appropriate judicial proceedings as such Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in
this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 SECTION 504.
Trustee May File Proofs of Claim. 
 In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization,
civil rehabilitation, arrangement, adjustment or other judicial proceeding relating to the Company or any other obligor upon the Securities of any series or the property of the Company or of such other obligor or their creditors, the Trustee for the
Securities of such series (irrespective of whether the principal (or lesser amount in the case of Discounted Securities) of any Security of such series shall then be due and payable as therein expressed or by declaration or otherwise and
irrespective of whether such Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise 
 (i) to file and prove a claim for the whole amount of principal (or lesser amount in the case of Discounted Securities) (and premium, if
any) and interest, if any, owing and unpaid in respect of the Securities of such series and to file such other papers or documents as may be necessary or advisable in order to have the claims of such Trustee (including any claim for the reasonable
compensation, expenses, disbursements and advances of such Trustee, its agents and counsel and all other amounts due to such 

  

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Trustee under Section 607) and of the Holders of the Securities of such series allowed in such judicial proceeding; 
 (ii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and

 (iii) unless prohibited by law or applicable regulations, to vote on behalf of the Holders of the Securities of such series
in any election of a trustee in bankruptcy or other person performing similar functions; 
 and any receiver, assignee, trustee, liquidator, sequestrator (or
other similar official) in any such judicial proceeding is hereby authorized by each Holder of Securities to make such payments to such Trustee, and in the event that such Trustee shall consent to the making of such payments directly to the Holders
of Securities, to pay to such Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and counsel, and any other amounts due such Trustee under Section 607. 
 Nothing herein contained shall be deemed to authorize the Trustee for the Securities of any series to authorize or consent to or accept or adopt on
behalf of any Holder of a Security any plan of reorganization, civil rehabilitation, arrangement or adjustment affecting the Securities of such series or the rights of any Holder thereof, or to authorize the Trustee for the Securities of any series
to vote in respect of the claim of any Holder in any such proceeding, except as aforesaid, for the election of a trustee in bankruptcy or other person performing similar functions. 
 SECTION 505. Trustee May Enforce Claims Without Possession of Securities. 
 All rights of action and claims under this Indenture or the Securities of any series may be prosecuted and enforced by the Trustee for the Securities of
any series without the possession of any of the Securities of such series or the production thereof in any proceeding relating thereto, and any such proceeding instituted by such Trustee shall be brought in its own name as trustee of an express
trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and counsel and all other amounts due to such Trustee under Section 607,
be for the ratable benefit of the Holders of the Securities of such series in respect of which such judgment has been recovered. 
 SECTION 506. Application of Money Collected. 
 Any money collected by the Trustee for the Securities of any series pursuant
to this Article with respect to the Securities of such series and, after an Event of Default, any money or other property distributable in respect of the Company’s obligations under this Indenture, shall be applied in the following order, at
the date or dates fixed by such Trustee and, in case of the distribution of such money on account of principal (or premium, if any) or interest, if any, upon presentation of the Securities of such series, or both, as the case may be, and the
notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 
 First: To the payment of
all amounts due such Trustee (including any predecessor Trustee) under Section 607; 
 Second: To the payment of the
amounts then due and unpaid upon the Securities of such series for principal of (and premium, if any) and interest, if any, on such Securities in respect of which or for the benefit of which such money has been collected, ratably, without preference
or priority of any kind, according to the amounts due and payable on such Securities for principal (and premium, if any) and interest, if any, respectively; and 
 Third: The balance, if any, to the Company. 
 SECTION 507. Limitation on Suits. 
 Other than the right to institute a suit for the enforcement of the payment of principal of, or interest on (including, in each case, any Additional Amounts, if applicable), any Securities after the applicable due
date 

  

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specified in the Securities, no Holder of any Security of any particular series shall have any right to institute any proceeding, judicial or otherwise, with
respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (1)
an Event of Default with respect to that series shall have occurred and be continuing and such Holder shall have previously given written notice to the Trustee for the Securities of such series of such default and the continuance thereof;

 (2) the Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made
written request to the Trustee for the Securities of such series to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 
 (3) such Holder or Holders have offered to such Trustee reasonable indemnity satisfactory to the Trustee against the costs, expenses and
liabilities to be incurred in compliance with such request; 
 (4) such Trustee for 60 days after its receipt of such notice,
request and offer of indemnity has failed to institute any such proceeding; and 
 (5) no direction inconsistent with such
written request has been given to such Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Securities of that series; 
 it being understood and intended that no one or more Holders of Securities of that series shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb
or prejudice the rights of any other Holders of Securities of that series, or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of the Holders of Securities of that series.

 SECTION 508. Unconditional Right of Holders to Receive Principal (and Premium, if any) and Interest, if any.

 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right which is absolute and unconditional
to receive payment of the principal of (and premium, if any) and (subject to Section 307) interest, if any, on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date)
and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such Holder. 
 SECTION 509. Restoration of Rights and Remedies. 
 If the Trustee for the Securities of any series or
any Holder of a Security has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to such Trustee or to such Holder,
then and in every such case the Company, such Trustee and the Holders of Securities shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and
remedies of such Trustee and such Holders shall continue as though no such proceeding had been instituted. 
 SECTION 510.
Rights and Remedies Cumulative. 
 Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Securities in the last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee for the Securities of any series or to the Holders of 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. 
 SECTION 511. Delay or Omission Not Waiver. 
 No delay or omission of the Trustee for the Securities of
any series or of any Holder of any Security of such series to exercise any right or remedy accruing upon any Event of Default with respect to the Securities of such 

  

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series 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 such Trustee for the Securities of any series or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by such Trustee or by the Holders, as the case may be. 
 SECTION 512. Control by Holders. 
 The Holders of a majority in principal amount of the Outstanding Securities of any particular series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to
the Trustee for the Securities of such series with respect to the Securities of that series or exercising any trust or power conferred on such Trustee with respect to such Securities, provided that: 
 (1) such direction shall not be in conflict with any rule of law or with this Indenture and could not involve the Trustee in personal
liability; and 
 (2) such Trustee may take any other action deemed proper by such Trustee, which is not inconsistent with
such direction. 
 SECTION 513. Waiver of Past Default. 
 The Holders of not less than a majority in principal amount of the Outstanding Securities of any particular series may on behalf of the Holders of all the
Securities of that series waive any past default hereunder with respect to that series and its consequences, except: 
 (1) a
default in the payment of the principal of (or premium, if any) or interest, if any, on any Security of that series; or 
 (2)
a default with respect to a covenant or provision hereof which under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Security of that 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 514. Undertaking for Costs. 
 All parties to this Indenture agree, and each Holder of any Security by his acceptance
thereof shall be deemed to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for the Securities of any series for any action
taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against
any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee for the Securities of any
series, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Outstanding Securities of any particular series or to any suit instituted by any Holder of any Security for the
enforcement of the payment of the principal of (or premium, if any) or interest, if any, on any Security of such series on or after the Stated Maturity expressed in such Security (or, in the case of redemption, on or after the Redemption Date).

 SECTION 515. Waiver of Stay or Extension Laws. 
 The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or
take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this 

  

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Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it
will not hinder, delay or impede the execution of any power herein granted to the Trustee for any series of Securities, but will suffer and permit the execution of every such power as though no such law had been enacted. 
 SECTION 516. Judgment Currency. 
 If, for the purpose of obtaining a judgment in any court with respect to any obligation of the Company hereunder or under any Security, it shall become necessary to convert into any other currency any amount in the
currency due hereunder or under such Security, then such conversion shall be made by the Currency Determination Agent at the Market Exchange Rate as in effect on the date of entry of the judgment (the “Judgment Date”). If pursuant to any
such judgment, conversion shall be made on a date (the “Substitute Date”) other than the Judgment Date and there shall occur a change between the Market Exchange Rate as in effect on the Judgment Date and the Market Exchange Rate as in
effect on the Substitute Date, the Company agrees to pay such additional amounts (if any) as may be necessary to ensure that the amount paid is equal to the amount in such other currency which, when converted at the Market Exchange Rate as in effect
on the Judgment Date, is the amount due hereunder or under such Security. Any amount due from the Company under this Section 516 shall be due as a separate debt and is not to be affected by or merged into any judgment being obtained for any
other sums due hereunder or in respect of any Security. In no event, however, shall the Company be required to pay more in the currency due hereunder or under such Security at the Market Exchange Rate as in effect on the Judgment Date than the
amount of currency stated to be due hereunder or under such Security so that in any event the Company’s obligations hereunder or under such Security will be effectively maintained as obligations in such currency, and the Company shall be
entitled to withhold (or be reimbursed for, as the case may be) any excess of the amount actually realized upon any such conversion on the Substitute Date over the amount due and payable on the Judgment Date. 
 ARTICLE SIX 
 THE TRUSTEE

 SECTION 601. Certain Duties and Responsibilities. 
 (a) Except during the continuance of an Event of Default with respect to the Securities of any series for which the Trustee is serving as such,

 (1) such Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture,
and no implied covenants, duties or obligations shall be read into this Indenture against such Trustee; and 
 (2) in the
absence of bad faith on its part, such Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any Company Resolution, certificates or opinions furnished to such Trustee and
conforming to the requirements of this Indenture, but in the case of any such certificates or opinions which by any provisions hereof are specifically required to be furnished to such Trustee, such Trustee shall be under a duty to examine the same
to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of calculations or other facts stated therein). 
 (b) In case an Event of Default with respect to a series of Securities has occurred and is continuing, the Trustee for the Securities of such series
shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 

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

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 (1) this Subsection shall not be construed to limit the effect of Section 601(a) or
601(d); 
 (2) such Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless
it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) such Trustee shall not be
liable with respect to any action taken, suffered or omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Securities of any particular series, determined as
provided in Section 512, relating to the time, method and place of conducting any proceeding for any remedy available to such Trustee, or exercising any trust or power conferred upon such Trustee, under this Indenture with respect to the
Securities of that series. 
 (d) No provision of this Indenture shall require the Trustee for any series of Securities to expend or risk its
own funds or otherwise incur any financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured to it. 
 (e) Whether or not therein expressly so provided, every
provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee for any series of Securities shall be subject to the provisions of this Section. 
 SECTION 602. Notice of Defaults. 
 Within 90 days after the occurrence of any default hereunder with respect to Securities of any particular series, the Trustee for the Securities of such series shall give to Holders of Securities of that series, in
the manner set forth in Section 106, notice of such default actually known to such Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the
principal of (or premium, if any) or interest, if any, on any Security of that series, or in the deposit of any sinking fund payment with respect to Securities of that series, such Trustee shall be protected in withholding such notice if and so long
as a committee of Responsible Officers of such Trustee in good faith determines that the withholding of such notice is in the interest of the Holders of Securities of that series; and provided, further, that in the case of any default
of the character specified in Section 501(3) with respect to Securities of that series no such notice to Holders shall be given until at least 60 days after the occurrence thereof. For the purpose of this Section, the term “default”
means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of that series. 
 SECTION 603. Certain Rights of Trustee. 
 Except as otherwise provided in Section 601:

 (a) the Trustee for any series of Security may conclusively rely and shall be fully protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, discretion, consent, order, bond, debenture 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 or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company
Order or, including in the case of any resolution of the Board of Directors, a Company Resolution; 
 (c) whenever in the administration of
this Indenture such Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, such Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad
faith on its part, conclusively rely upon an Officer’s Certificate; 
 (d) such Trustee may consult with counsel of its selection and
the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
  

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 (e) such Trustee shall be under no obligation to exercise any of the rights or powers vested in it by
this Indenture at the request or direction of any of the Holders of Securities of any series pursuant to this Indenture for which it is acting as Trustee, unless such Holders shall have offered to such Trustee security or indemnity satisfactory to
the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 
 (f)
such Trustee shall not be bound to make any investigation into the facts or matters stated in any Company Resolution, resolution, certificate, statement, instrument, opinion, report, notice, request, discretion, consent, order, bond, debenture or
other paper or document, but such Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters at it may see fit, and, if such 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) such Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents
or attorneys and such Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 
 (h) such Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred
upon it by this Indenture; 
 (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, such Trustee in each of its capacities hereunder, and to each agent, custodian and other Person employed to act hereunder; 
 (j) the Trustee shall not be charged with or be deemed to have notice of any default (within the meaning of such term in Section 602) or Event of Default
unless written notice of such default or Event of Default is received by the Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the series of Securities and this Indenture; 
 (k) the Trustee may request that the Company deliver an Officer’s Certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be signed by any person authorized to sign an Officer’s Certificate, including any person specified as so authorized in any such
certificate previously delivered and not superseded; 
 (l) 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;

 (m) 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 Company has been advised as to the likelihood of such loss or damage and regardless of the form of action; 
 (n) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of
the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with such request
or direction; and 
 (o) the permissive right of the Trustee to take or refrain from taking any actions enumerated in this Indenture shall
not be construed as a duty. 
  

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 SECTION 604. Not Responsible for Recitals or Issuance of Securities. 

The recitals contained herein and in the Securities, except the Trustee’s certificates of authentication thereof, shall be taken as the statements
of the Company, and neither the Trustee for any series of Securities, nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee for any series of Securities makes no representations as to the validity or sufficiency
of this Indenture or of the Securities of any series. Neither the Trustee for any series of Securities nor any Authenticating Agent shall be accountable for the use or application by the Company of Securities or the proceeds thereof. 
 SECTION 605. May Hold Securities. 
 The Trustee for any series of Securities, any Authenticating Agent, Paying Agent, Security Registrar or any other agent of the Company or such Trustee, in its individual or any other capacity, may become the owner or
pledgee of Securities and, subject to Sections 608 and 613, may otherwise deal with the Company with the same rights it would have if it were not such Trustee, Authenticating Agent, Paying Agent, Security Registrar or such other agent. 

The Trustee may become and act as Trustee under other indentures under which other securities or certificates of interest or participation in other
securities of the Company are outstanding in the same manner as if it were not Trustee hereunder. 
 SECTION 606. Money
Held in Trust. 
 Money held by the Trustee for any series of Securities in trust hereunder need not be segregated from other funds except
as provided in Section 115 and except to the extent required by law. The Trustee for any series of Securities shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company.

 SECTION 607. Compensation and Reimbursement. 
 The Company agrees 
 (1) to
pay to the Trustee for any series of Securities from time to time reasonable compensation in Dollars as the Company and the Trustee shall from time to time agree in writing for all services rendered by it hereunder (which compensation shall not be
limited by any provision of law in regard to the compensation of a trustee of an express trust); 
 (2) except as otherwise
expressly provided herein, to reimburse the Trustee for any series of Securities in Dollars upon its request for all reasonable expenses, disbursements and advances incurred or made by such Trustee in accordance with any provision of this Indenture
(including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its gross negligence or willful misconduct; and 
 (3) to indemnify such Trustee (which for purposes of this subsection 607(3) shall include its directors, officers, employees and agents)
in Dollars for, and to hold them harmless against, any loss, liability, damage, claims or expense incurred without gross negligence or bad faith on their part, arising out of or in connection with the acceptance or administration of the trust or
trusts hereunder, including the costs and expenses of defending themselves against any claim or liability in connection with the exercise or performance of any of their powers or duties hereunder. 
 As security for the performance of the obligations of the Company under this Section the Trustee for any series of Securities shall have a lien prior to
the Securities upon all property and funds held or collected by such Trustee as such, except funds held in trust for the payment of principal of (and premium, if any) or interest, if any, on particular Securities. 
 The provisions of this Section shall survive the termination of this Indenture, the satisfaction and discharge of this Indenture and the resignation or
removal of the Trustee. 
  

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 SECTION 608. Disqualification; Conflicting Interests. 
 The Trustee for the Securities shall be subject to the provisions of Section 310(b) of the Trust Indenture Act during the period of time required
thereby. 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. 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 Securities of any particular series of Securities other than that series. 
 SECTION 609. Corporate Trustee Required; Different Trustees for Different Series; Eligibility. 
 There shall at all times be a Trustee hereunder which shall be: 
 (i) a corporation organized and doing business under the laws of the United States of America, any state thereof, or the District of
Columbia, authorized under such laws to exercise corporate trust powers, and subject to supervision or examination by Federal or State authority, or 
 (ii) a corporation or other Person organized and doing business under the laws of a foreign government that is permitted to act as Trustee pursuant to a rule, regulation, or other order of the Commission, authorized
under such laws to exercise corporate trust powers, and subject to supervision or examination by authority of such foreign government or a political subdivision thereof substantially equivalent to supervision or examination applicable to United
States institutional trustee, 
 having a combined capital and surplus of at least $50,000,000. If such corporation publishes reports of condition at least
annually, pursuant to law or to 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. A different Trustee may be appointed by the Company for each series of Securities prior to the issuance of such Securities. If the initial Trustee for any series of Securities is to be
other than JPMorgan Chase Bank, N.A., the Company and such Trustee shall, prior to the issuance of such Securities, execute and deliver an indenture supplemental hereto, which shall provide for the appointment of such Trustee as Trustee for the
Securities of such series 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 hereunder separate and apart from any trust or trusts hereunder administered by
any other such Trustee. Neither the Company nor any Person directly or indirectly controlling, controlled by, or under the common control with the Company shall serve as Trustee for the Securities. If at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereunder specified in this Article. 
 SECTION 610. Resignation and Removal; Appointment of Successor. 
 (a) No resignation or removal of the Trustee for the Securities of any series and no appointment of a successor Trustee pursuant to this Article shall
become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 
 (b) The Trustee for the Securities of any series may resign at any time with respect to the Securities of such series by giving written notice thereof to the Company. If the instrument of acceptance by a successor Trustee required by
Section 611 shall not have been delivered to the Trustee for the Securities of such series within 60 days after the giving of such notice of resignation, the resigning Trustee may, at the Company’s expense, petition any court of competent
jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
  

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 (c) The Trustee for the Securities of any series may be removed at any time with respect to the
Securities of such series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to such Trustee and to the Company. 
 (d) If at anytime: 
 (1) the
Trustee for the Securities of any series shall fail to comply with Section 310(b) of the Trust Indenture Act pursuant to Section 608 hereof after written request therefor by the Company or by any Holder who has been a bona fide Holder of a
Security 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 
 (2) such Trustee shall cease to be eligible under Section 609 and shall fail to resign after written request therefor by the Company
or by any such Holder, or 
 (3) such Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or
a receiver of such Trustee or of its property shall be appointed or any public officer shall take charge or control of such Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
 then, in any such case, (i) the Company by an Officer’s Certificate may remove such Trustee or (ii) subject to Section 514, any Holder who has been a
bona fide Holder of a Security of such series for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of such Trustee and the appointment of a successor
Trustee. 
 (e) If the Trustee for the Securities of any series shall resign, be removed or become incapable of acting, or if a vacancy shall
occur in the office of Trustee for the Securities of any series for any cause, the Company, by an Officer’s Certificate, shall promptly appoint a successor Trustee with respect to the Securities of such series and shall comply with the
applicable requirements of Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of such series shall be appointed by Act of the
Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with
the applicable requirements of Section 611, become the successor Trustee for the Securities of such series and supersede the successor Trustee appointed by the Company. If no successor Trustee for the Securities of such series shall have been
so appointed by the Company or the Holders and shall have accepted appointment in the manner required by Section 611, and if such Trustee is still incapable of acting, any Holder who has been a bona fide Holder of a Security of such series for
at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 (f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and each appointment
of a successor Trustee with respect to the Securities of any series in the manner and to the extent provided in Section 106. Each notice shall include the name of the successor Trustee with respect to the Securities of that series and the
address of its Corporate Trust Office. 
 (g) If an instrument of acceptance by a successor Trustee shall not have been delivered to the
Trustee within 30 days after the giving of any notice of removal, the Trustee being removed may petition a court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 
 SECTION 611. Acceptance of Appointment by Successor. 
 (a) Every such successor Trustee appointed hereunder with respect to the Securities of any series shall execute, acknowledge and deliver to the Company
and to the retiring Trustee an instrument accepting such 

  

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appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee without any further act, deed
or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an
instrument transferring to such successor Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder, subject
nevertheless to its lien provided for in Section 607. 
 (b) In case of the appointment hereunder of a successor Trustee with respect to
the Securities of one or more (but not all) series, the Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor
Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be
deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in
the retiring Trustee and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing
herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any
other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act,
deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the
Company or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which
the appointment of such successor Trustee relates, subject nevertheless to its lien provided for in Section 607. 
 (c) Upon request of
any such successor Trustee, the Company shall execute any and all instruments for more fully and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in Subsections (a) or (b) of this
Section, as the case may be. 
 (d) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor
Trustee for the Securities of any series shall be qualified and eligible under this Article. 
 SECTION 612. Merger,
Conversion, Consolidation or Succession to Business. 
 Any Person into which the Trustee for the Securities of any series may be merged
or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which such Trustee shall be a party, or any Person succeeding to all or substantially all of the corporate trust business of
such Trustee, shall be the successor of such Trustee hereunder, provided such Person shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties
hereto. In case any Securities shall have been authenticated, but not delivered, by the Trustee or the Authenticating Agent for such series then in office, any successor by merger, conversion or consolidation to such authenticating Trustee or
Authenticating Agent, as the case may be, may adopt such authentication and deliver the Securities so authenticated with the same effect as if such successor Trustee or successor Authenticating Agent had itself authenticated such Securities.

  

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 SECTION 613. Preferential Collection of Claims Against Company. 
 If and when the Trustee for the Securities of any series shall be or become a creditor of the Company (or any other obligor upon the Securities of such
series), such Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor). 
 SECTION 614. Authenticating Agents. 
 From time to time the Trustee for the Securities of any series may, subject to its sole discretion, appoint one or more Authenticating Agents with respect to the Securities of such series, which may include the
Company or any Affiliate of the Company, with power to act on the Trustee’s behalf and subject to its discretion in the authentication and delivery of Securities of such series in connection with transfers and exchanges under Sections 304, 305
and 1107 or pursuant to Section 306 as fully to all intents and purposes as though such Authenticating Agent had been expressly authorized by those Sections of this Indenture to authenticate and deliver Securities of such series. For all
purposes of this Indenture, the authentication and delivery of Securities of such series by an Authenticating Agent for such Securities pursuant to this Section shall be deemed to be authentication and delivery of such Securities “by the
Trustee” for the Securities of such series. Any such Authenticating Agent shall at all times be a corporation organized and doing business under the laws of the United States or of any State, 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 or State authority. If such Authenticating Agent publishes reports of condition at least annually pursuant to law or the
requirements of such supervising or examining authority, then for the purposes of this Section the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of
condition so published. If at any time an Authenticating Agent for any series of Securities shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the
effect specified in this Section. 
 Any Person into which any Authenticating Agent may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, consolidation or conversion to which any Authenticating Agent shall be a party, or any Person succeeding to the corporate trust business of any Authenticating Agent, shall be the successor of
such Authenticating Agent hereunder, if such successor Person is otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the parties hereto or the Authenticating Agent or such successor
Person. 
 Any Authenticating Agent for any series of Securities may resign at any time by giving written notice of resignation to the
Trustee for such series and to the Company. The Trustee for any series of Securities 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 in the
manner set forth in Section 105. Upon receiving such a notice of resignation or upon such a termination, or in case at any time any Authenticating Agent for any series of Securities shall cease to be eligible under this Section, the Trustee for
such series may appoint a successor Authenticating Agent and shall give written notice of such appointment to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the rights,
powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 
 The Company agrees to pay, at the direction and on behalf of the Trustee, to any Authenticating Agent for such series from time to time reasonable
compensation for its services. 
  

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 If an appointment with respect to one or more series of Securities is made pursuant to this Section, the
Securities of such series may have endorsed thereon, in addition to the Trustee’s certification of authentication, an alternate certificate of authentication in the following form: 
 “This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 
 Dated:                      
  
 [            ], 
 as Trustee 
  

			
		
	By	 	  
		 	As Authenticating Agent
		
	By	 	  
		 	Authorized Officer”

 SECTION 615. Trustee’s Application for Instructions from the
Company. 
 Any application by the Trustee for written instructions from the Company may, at the option of the Trustee, set forth in
writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or
omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such application (which date shall not be less than three Business Days after the date any officer of the Company actually receives
such application, unless any such officer shall have consented in writing to any earlier date) unless prior to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions in
response to such application specifying the action to be taken or omitted. 
 SECTION 616. Co-trustees and Separate Trustees

 At any time or times, for the purpose of meeting the legal requirements of any applicable jurisdiction, 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 33% in principal amount 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 either to act as co-trustee, jointly with the Trustee, or to act as separate trustee, 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 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 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. 
 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; 
  

 40 

 (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 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, 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 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) no co-trustee or separate trustee hereunder shall be personally liable by reason of any act or omission of the Trustee, or any other
such trustee hereunder; and the Trustee shall not be personally liable by reason of any act or omission of any such co-trustee or separate trustee; 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 
 HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 SECTION 701. Company to Furnish Trustee Names and Addresses of Holders. 
 With respect to each particular series of Securities, the Company will furnish or cause to be furnished to the Trustee for the Securities of such series,

 (a) semiannually, not more than 15 days after each Regular Record Date relating to that series (or, if there is no Regular Record Date
relating to that series, on June 30 and December 31), a list, in such form as such Trustee may reasonably require, containing all the information in the possession or control of the Company or any of its Paying Agents other than such
Trustee as to the names and addresses of the Holders of that series as of such dates, 
 (b) on semi-annual dates on each year to be
determined pursuant to Section 301 if the Securities of such series do not bear interest, a list of similar form and content, and 
 (c)
at such other times as such Trustee may request in writing, within 30 days after the receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished,

 excluding from any such list names and addresses received by such Trustee in its capacity as Security Registrar for the Securities of such series, if so
acting. 
 SECTION 702. Preservation of Information; Communications to Holders. 
 (a) The Trustee for each series of Securities shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders of the
Securities of such series contained in the most recent lists furnished to 

  

 41 

 
such Trustee as provided in Section 701 and the names and addresses of Holders of the Securities of such series received by such Trustee in its capacity
as Security Registrar for such series, if so acting. The Trustee for each series of Securities may destroy any list relating to such series of Securities furnished to it as provided in Section 701 upon receipt of a new list relating to such
series so furnished. 
 (b) If three or more Holders of Securities of any particular series (hereinafter referred to as
“applicants”) apply in writing to the Trustee for the Securities of any such series, and furnish to such Trustee reasonable proof that each such applicant has owned a Security of that series 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 that series with respect to their rights under this Indenture or under the Securities of that series and is
accompanied by a copy of the form of proxy or other communication which such applicants propose to transmit, then such Trustee shall, within five Business Days after the receipt of such application, at its election, either 
 (i) afford such applicants access to the information preserved at the time by such Trustee in accordance with Section 702(a), or

 (ii) inform such applicants as to the approximate number of Holders of Securities of that series whose names and addresses
appear in the information preserved at the time by such Trustee in accordance with Section 702(a), and as to the approximate cost of mailing to such Holders the form of proxy or other Communication, if any, specified in such application.

 If any such Trustee shall elect not to afford such applicants access to that information, such Trustee shall, upon the written request of
such applicants, mail to each Holder of Securities of that series whose name and address appears in the information preserved at the time by such Trustee in accordance with Section 702(a), a copy of the form of proxy or other communication
which is specified in such request, with reasonable promptness after a tender to such 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,
such 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 such Trustee, such mailing would be contrary to the best interests
of the Holders of Securities of that series or would 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 an 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, such Trustee shall mail copies of such material to such Holders with reasonable promptness after the entry of such order and the renewal of such tender, otherwise such
Trustee shall be relieved of any obligation or duty to such applicants respecting their application. 
 (c) Every Holder of Securities of
each series, by receiving and holding the same, agrees with the Company and the Trustee for the Securities of such series that neither the Company nor such Trustee, nor any agent of either of them shall be held accountable by reason of the
disclosure of any such information as to the names and addresses of the Holders of the Securities of such series in accordance with Section 702(b), 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 702(b). 
 SECTION 703.
Reports by Trustee. 
 (a) The Trustee for the Securities of each series shall transmit to Holders such reports concerning such Trustee
and its actions under this Indenture as may be required pursuant to the Trust Indenture Act 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 March 15 following the date of the initial issuance of Securities of any series 

  

 42 

 
under this Indenture deliver to Holders a brief report, dated as of such March 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 of Securities of any series, be filed by the Trustee for
the Securities of such series with each securities exchange upon which the Securities of such series are listed and also with the Commission. The Company will notify such Trustee when such series of Securities is listed on any securities exchange
and of any delisting thereof. 
 SECTION 704. Reports by Company. 
 The Company will: 
 (1) file
with the Trustee for the Securities of such series, within 15 days after the Company 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 may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act; or, if the Company
is not required to file information, documents or reports pursuant to either of said Sections, then it will file with such Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of
the supplementary and periodic information, documents and reports which may be required pursuant to the Exchange Act in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such
rules and regulations; 
 (2) file with the Trustee for the Securities of such series and the Commission, in accordance with
rules and regulations prescribed from time to time by the Commission, such additional information, documents, and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to
time by such rules and regulations; and 
 (3) transmit by mail to all Holders of Securities of each series, as provided in
Section 703(c), within 30 days after the filing thereof with the Trustee for the Securities of such series, such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs (1) and
(2) of this Section as may be required by rules and regulations prescribed from time to time by the Commission. 
 Delivery of such
reports, information and documents to the Trustee for the Securities of such series pursuant to this Section is for informational purposes only and such 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). 

SECTION 705. Statement by Officers as to Default. 
 The Company shall deliver to the Trustee, as soon as possible and in any event within five Business Days after the Company becomes aware of the occurrence
of any Event of Default or an event which, with notice or the lapse of time or both, would constitute an Event of Default, an Officer’s Certificate setting forth the details of such Event of Default or default and the action which the Company
proposes to take with respect thereto. 
  

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 ARTICLE EIGHT 
 CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER 
 SECTION 801. Company May
Consolidate, Etc., Only on Certain Terms. 
 The Company shall not consolidate with or merge into any other corporation or convey or
transfer its properties and assets substantially as an entirety to any Person unless: 
 (1) the corporation formed by such
consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer the properties and assets of the Company substantially as an entirety shall be a corporation organized and existing under the laws of Japan and
shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee for each series of Securities, in form satisfactory to each such Trustee, the due and punctual payment of the principal of (and premium, if any) and
interest, if any, (including all additional amounts, if any, payable pursuant to Sections 516 or 1009) on all the Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or observed; 

(2) immediately after giving effect to such transaction, no Event of Default with respect to any series of Securities, and no event
which, after notice or lapse of time, or both, would become an Event of Default with respect to any series of Securities, shall have happened and be continuing; and 
 (3) the Company has delivered to the Trustee for each series of Securities an Officer’s Certificate and an Opinion of Counsel each
stating that such consolidation, merger, conveyance or transfer and such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 
 SECTION 802. Successor Corporation Substituted. 
 Upon any consolidation or merger, or any conveyance or transfer of the properties and assets of the Company substantially as an entirety in accordance with Section 801, the successor corporation formed by such
consolidation or into which the Company is merged or to which such conveyance 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 corporation had been named as the Company herein and thereafter the predecessor corporation shall be relieved of all obligations and covenants under this Indenture, the Securities and, in the event of any such consolidation, merger,
conveyance or transfer, the Company as the predecessor corporation may thereupon or at any time thereafter be dissolved, wound up, or liquidated. 
 ARTICLE NINE 
 SUPPLEMENTAL INDENTURES 
 SECTION 901. Supplemental Indentures Without Consent of Holders. 
 Without the consent of any Holders of Securities, the Company, when authorized by a Company Resolution, and the Trustee for the Securities of any or all
series, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to such Trustee, for any of the following purposes: 
 (1) to evidence the succession of another corporation to the Company, and the assumption by any such successor of the covenants of the
Company herein and in the Securities contained; or 
 (2) to add to the covenants of the Company, for the benefit of the
Holders of all or any particular series of Securities (and, if such covenants are to be for the benefit of fewer than all series of Securities, stating 

  

 44 

 
that such covenants are being included solely for the benefit of such series), or to surrender any right or power herein conferred upon the Company; or

 (3) to add any additional Events of Default with respect to any or all series of Securities (and, if any such Event of
Default applies to fewer than all series of Securities, stating each series to which such Event of Default applies); or 
 (4)
to add to, change or eliminate any of the provisions of this Indenture, provided, however, that any such addition, change or elimination shall become effective only when there is no Security Outstanding of any series created prior to
the execution of such supplemental indenture which is entitled to the benefit of such provision; or 
 (5) to evidence and
provide for the acceptance of appointment hereunder of a Trustee other than JPMorgan Chase Bank, N.A. as Trustee for a series of Securities and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or
facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 609; or 
 (6) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to
provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 611(b); or 
 (7) to add to the conditions, limitations and restrictions on the authorized amount, form, terms or purposes of issue, authentication and delivery of Securities, as herein set forth, other conditions, limitations and
restrictions thereafter to be observed; or 
 (8) to supplement any of the provisions of this Indenture to such extent as
shall be necessary to permit or facilitate the defeasance and discharge of any series of Securities permitted by the terms of such Securities; provided, however, that any such action shall not adversely affect the interests of the
Holders of Securities of such series or any other series of Securities in any material respect; or 
 (9) to add to or change
or eliminate any provisions of this Indenture as shall be necessary or desirable in accordance with any amendments to the Trust Indenture Act; or 
 (10) to cure any ambiguity or to correct or supplement any provision herein which may be inconsistent with any other provision herein; or 
 (11) to convey, transfer, assign, mortgage or pledge any property to or with the Trustee for the Securities of any series or to surrender
any right or power herein conferred upon the Company; or 
 (12) to make any other provisions with respect to matters or
questions arising under this Indenture, provided such action shall not adversely affect the interests of the Holders of Securities of any particular series as stated in an Officers’ Certificate; or 
 (13) to provide for the issuance of Securities in bearer form with coupons as well as fully registered form. 
 SECTION 902. Supplemental Indentures With Consent of Holders. 
 The Company, when authorized by a Company Resolution, and the Trustee for the Securities of any or all series may enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders of such Securities under this Indenture, but
only with the consent of the Holders of at least 66 2/3% in aggregate principal amount of the Outstanding
Securities of each series of Securities then Outstanding affected thereby, in each case by Act of said Holders of Securities of each such series delivered to the Company and the Trustee for Securities of each such series; provided,
however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby: 
 (1) change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, or reduce the principal amount thereof or the rate of interest thereon, if any, or any premium

  

 45 

 
payable upon the redemption thereof, or change any obligation of the Company to pay additional amounts pursuant to Section 1009 (except as permitted by
Section 901(1)) or reduce the amount of the principal of a Discounted Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or change the Place of Payment, or the
currency in which any Security or the interest thereon is payable (or the right of selection thereof), or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of
redemption, on or after the Redemption Date); or 
 (2) reduce the percentage in principal amount of the Outstanding
Securities of any particular series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain
defaults hereunder and their consequences) provided for in this Indenture; or 
 (3) modify any of the provisions of this
Section or Section 513 or 1008, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Security affected thereby;
provided, however, that this clause shall not be deemed to require the consent of any Holder of a Security with respect to changes in the references to “the Trustee” and concomitant changes in this Section and
Section 1008, or the deletion of this proviso, in accordance with the requirements of Sections 609, 611(b), 901(6) and 901(7). 
 The
Company may, but shall not be obligated to, fix a record date for the purpose of determining the Persons entitled to consent to any indenture supplemental hereto. If a record date is fixed, the Holders on such record date, or their duly designated
proxies, and only such Persons, shall be entitled to consent to such supplemental indenture whether or not such Holders remain Holders after such record date; provided, that unless such consent shall have become effective by virtue of the
requisite percentage having been obtained prior to the date which is 90 days after such record date, any such consent previously given shall automatically and without further action by any Holder be canceled and of no further effect. 
 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the
benefit of one or more particular series of Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the
Holders of Securities of any other series. 
 It shall not be necessary for any Act of Holders under this Section to approve the particular
form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
 SECTION 903. Execution of Supplemental Indentures. 
 In executing, or accepting the additional trusts created by, any
supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee for any series of Securities shall be entitled to receive, and (subject to Section 601) shall be fully protected
in relying upon, an Officer’s Certificate and an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee for any series of Securities may, but shall not be obligated
to, enter into any such supplemental indenture which affects such Trustee’s own rights, liabilities, duties or immunities under this Indenture or otherwise. 
 SECTION 904. Effect of Supplemental Indentures. 
 Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith and such supplemental indenture shall form a part of this Indenture for all purposes; and
every Holder of Securities theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. 
  

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 SECTION 905. Conformity With Trust Indenture Act. 
 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect. 

SECTION 906. Reference in Securities to Supplemental Indentures. 
 Securities of any particular series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and shall
if required by the Trustee for the Securities of such series, bear a notation in form approved by the Company as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified
as to conform, in the opinion of the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by such Trustee in exchange for Outstanding Securities of such series. 
 After any supplemental indenture under this Article becomes effective, the Company shall mail to the Holders a notice briefly describing such
supplemental indenture. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Article. 
 ARTICLE TEN 
 COVENANTS 
 SECTION 1001. Payment of Principal (and Premium, if any) and Interest, if any. 
 The Company agrees, for the benefit of each particular series of Securities, that it will duly and punctually pay in the currency in which the Securities
of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series and except as provided in Sections 311(b), 311(d) and 311(e)) the principal of (and premium, if any) and interest, if any, on
that series of Securities in accordance with the terms of the Securities of such series and this Indenture. The interest, if any, due in respect of any temporary or permanent global Security, together with any additional amounts payable in respect
thereof, as provided in the terms and conditions of such Security, shall be payable, subject to the conditions set forth in Section 1009, only upon presentation of such Security to the Trustee thereof for notation thereon of the payment of such
interest. 
 SECTION 1002. Maintenance of Office or Agency. 
 The Company will maintain in each Place of Payment for a series of Securities an office or agency where Securities of that series may be presented or
surrendered for payment, an office or agency where Securities of that series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company with respect to the Securities of that series and this
Indenture may be served. The Company will give prompt written notice to the Trustee for the Securities of that series of the location, and any change in the location, of any such office or agency. If at any time the Company shall fail to maintain
any such required office or agency in respect of any series of Securities or shall fail to furnish the Trustee for the Securities of that series with the address thereof, such presentations (to the extent permitted by law), and surrenders of
Securities of that series may be made and notices and demands may be made or served at the Corporate Trust Office of such Trustee, and the Company hereby appoints the same as its agent to receive such respective presentations, surrenders, notices
and demands. 
 The Company may also from time to time designate one or more other offices or agencies (in or outside the Place of Payment)
where the Securities of one or more series may be presented or surrendered for any or all of the purposes specified above in this Section and may from time to time rescind such designations; provided, however, that no such designation
or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in each Place of Payment for such purpose. The Company will give prompt written 

  

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notice to the Trustee for the Securities of each series so affected of any such designation or rescission and of any change in the location of any such
office or agency. 
 If and so long as the Securities of any series (i) are denominated in a currency other than Dollars or
(ii) may be payable in a currency other than Dollars, or so long as it is required under any other provision of the Indenture, then the Company will maintain with respect to each such series of Securities, or as so required, a Currency
Determination Agent 
 SECTION 1003. 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 particular series of Securities, it will, on or before each due date of
the principal of (and premium, if any) or interest, if any, on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the currency in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 301 for the Securities of such series and except as provided in Sections 311(b), 311(d) and 311(e)) sufficient to pay the principal (and premium, if any) and interest, if any, so becoming due
until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee for the Securities of such series of its action or failure so to act. 
 Whenever the Company shall have one or more Paying Agents for any particular series of Securities, it will, not later than a date agreed upon between the
Company and any such Paying Agent (in any event not later than the applicable due date), deposit with a Paying Agent for the Securities of such series a sum (in the currency described in the preceding paragraph) sufficient to pay the principal (and
premium, if any) and interest, if any, 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 for the Securities of such series) the Company will promptly notify
such Trustee of its action or failure so to act. 
 The Company will cause each Paying Agent for any particular series of Securities other
than the Trustee for the Securities of such series to execute and deliver to such Trustee an instrument in which such Paying Agent shall agree with such Trustee, subject to the provisions of this Section, that such Paying Agent will: 
 (1) hold all sums held by it for the payment of the principal of (and premium, if any) or interest, if any, on Securities of that series
in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 
 (2) give such Trustee notice of any default by the Company (or any other obligor upon the Securities) in the making of any payment of principal (or premium, if any) and interest, if any, on Securities of that series;
and 
 (3) at any time during the continuation of any such default, upon the written request of such Trustee, forthwith pay to
such 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 for the Securities of any series all sums held in trust by the Company or such Paying Agent, such sums to be held by
such Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to such Trustee, such Paying Agent shall be released from all further liability with respect to
such money. 
 Any money deposited with the Trustee for the Securities of any series or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of (and premium, if any) and interest, if any, on any Security of any particular series and remaining unclaimed for two years after such principal (and premium, if any) and interest, if any, has become due and
payable shall, unless otherwise required by mandatory provisions 

  

 48 

 
of applicable escheat, or abandoned or unclaimed property law, be paid to the Company on Company Request, or (if then held by the Company) shall be
discharged from such trusts; and the Holder of such Security shall, thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of such 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 such Trustee or such Paying Agent, before being required to make any such repayment may give written notice to the Holder of such
Security in the manner set forth in Section 106, or may, in its discretion, in the name and at the expense of the Company, cause to be published at least once in a newspaper published in the English language, customarily on each Business Day
and of general circulation in New York, New York notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then
remaining will, unless otherwise required by mandatory provisions of applicable escheat, or abandoned or unclaimed property law, be repaid to the Company. 
 SECTION 1004. Payment of Taxes and Other Claims. 
 The Company will pay or discharge or cause to be paid or discharged, before the same shall become delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon it or upon its income,
profits or property, and (2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a lien upon its property; provided, however, that the Company shall not be required to pay or discharge or
cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings. 
 SECTION 1005. Statements as to Compliance. 
 The Company will deliver to the Trustee for each series of Securities, within 120 days after the end of each fiscal year, a written statement signed by the principal executive officer, principal financial officer or
principal accounting officer of the Company stating that: 
 (1) a review of the activities of the Company during such year
and of performance under this Indenture has been made under his supervision; and 
 (2) to the best of his knowledge, based on
such review, the Company is in compliance with all conditions and covenants under this Indenture and if the Company shall not be in compliance, specifying such non-compliance and the nature and status thereof. 
 For purposes of this Section, such compliance shall be determined without regard to any period of grace or requirement of notice provided under this
Indenture. 
 SECTION 1006. Corporate Existence. 
 Subject to Article Eight, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate
existence, rights (charter and statutory) and franchises; provided, however, that the Company shall not be required to preserve any right or franchise if the Board of Directors shall determine that the preservation thereof is no longer
desirable in the conduct of the business of the Company and that the loss thereof is not disadvantageous in any material respect to the Holders. 
 SECTION 1007. Reserved. 
 SECTION 1008. Waiver of Certain Covenants.

 The Company may omit in any particular instance to comply with any covenant or condition set forth in Sections 1004 to 1007, if before or
after the time for such compliance the Holders of more than 66 2/3% in 

  

 49 

 
principal amount of the Outstanding Securities of each series of Securities affected by the omission shall, in each case by Act of such Holders, either waive
such compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant 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 for the Securities of each series with respect to any such covenant or condition shall remain in full force and effect. 
 SECTION 1009. Payment of Additional Amounts. 
 All payments of the principal of and interest on any Security by the Company will be made without deduction or withholding for or on account of any present or future taxes or duties of whatever nature imposed or
levied by or on behalf of Japan or any of its political subdivisions or taxing authorities, unless the withholding or deduction of the taxes or duties is required by law or regulation or by the official interpretation of the relevant law or
regulation. In that event, the Company will pay to each Holder of such Security the additional amounts as may be necessary in order that each net payment on such Security after the deduction or withholding will not be less than the amount provided
for in such Security to be then due and payable, provided, however, that the foregoing obligations to pay these additional amounts will not apply to: 
 (a) any tax, assessment or other governmental charge that would not have been imposed but for (1) the existence of any present or former connection between the Holder or the beneficial owner of the applicable
Security (or between a fiduciary, settlor, beneficiary, member or shareholder of, or possessor of a power over, the Holder or beneficial owner of, if the Holder or beneficial owner is an estate, trust, partnership or corporation) and the applicable
taxing jurisdiction imposing the tax, assessment or other governmental charge, other than the mere receipt of payments in respect of a Security or the holding or ownership of a Security or beneficial interest therein; or (2) the presentation of
a Security (where presentation is required) for payment on a date more than 30 days after the date on which the payment became due and payable or the date on which payment thereof is duly provided for, whichever occurs later; 
 (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 payments of, or in respect of principal of, or
any interest on, the Securities; 
 (d) any tax, assessment or other governmental charge that is imposed or withheld by reason of the failure
to comply by the Holder or the beneficial owner of the Securities with a request of the Company addressed to the Holder (1) to provide information concerning the nationality, residence, identity or connection with a taxing jurisdiction of the
Holder or the beneficial owner or (2) to make any declaration or other similar claim to satisfy any information or reporting requirement, which in the case of (1) or (2), is required or imposed by a statute, treaty, regulation or
administrative practice of the taxing jurisdiction as a precondition to exemption from all or part of the tax, assessment or other governmental charge; or 
 (e) any combination of items (a), (b), (c) and (d) above; 
 nor shall additional amounts be paid with respect to
any payment of principal or any interest on any Security to any Holder or beneficial owner that is a fiduciary or partnership or other than the sole beneficial owner of such Security to the extent the payment would be required by the laws of a
taxing jurisdiction to be included in the income for tax purposes of a beneficiary or settlor with respect to the fiduciary or a member of the partnership or a beneficial owner who would not have been entitled to these additional amounts had it been
a Holder. 
 Whenever in this Indenture there is mentioned, in any context, the payment of the principal of (and premium, if any) and
interest, if any, on any Security of any series, such mention shall be deemed to include 

  

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mention of the payment of additional amounts provided for in the terms of such Securities and this Section to the extent that, in such context, additional
amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section and express mention of the payment of additional amounts (if applicable) in any provisions hereof shall not be construed as excluding additional
amounts in those provisions hereof where such express mention is not made. 
 At least 10 days prior to the first Interest Payment Date with
respect to that series of Securities (or if the Securities of that series will not bear interest prior to maturity, the first day on which a payment of principal and any premium is made), and at least 10 days prior to each date of payment of
principal (and premium, if any) and interest, if any, if there has been any change with respect to the matters set forth in the below mentioned Officer’s Certificate, the Company will furnish the Trustee for that series of Securities and the
Company’s principal Paying Agent or Paying Agents, if other than such Trustee, with an Officer’s Certificate instructing such Trustee and such Paying Agent or Paying Agents whether such payment of principal of (and premium, if any) and
interest, if any, on the Securities of that series shall be made to Holders of Securities of that series without withholding for or on account of any tax, assessment or other governmental charge referred to above or described in the Securities of
that series. If any such withholding shall be required, then such Officer’s Certificate shall specify by country the amount, if any, required to be withheld on such payments to such Holders of Securities and the Company will pay to the Trustee
for such series of Securities or such Paying Agent such additional amounts as may be required pursuant to the terms applicable to such series. The Company covenants to indemnify the Trustee for such series of Securities and any Paying Agent for, and
to hold them harmless against any loss, liability or expense reasonably incurred without gross 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 1009. 
 ARTICLE ELEVEN 
 REDEMPTION OF SECURITIES 
 SECTION 1101. Applicability of
This Article. 
 Redemption of Securities of any series (whether by operation of a sinking fund or otherwise) as permitted or required by
any form of Security issued pursuant to this Indenture shall be made in accordance with such form of Security and this Article; provided, however, that if any provision of any such form of Security shall conflict with any provision of
this Article, the provision of such form of Security shall govern. 
 SECTION 1102. Election to Redeem; Notice to
Trustee. 
 The election of the Company to redeem any Securities of any series shall be evidenced by or pursuant to an Officer’s
Certificate. In case of any redemption at the election of the Company of less than all of the Securities of any particular series, the Company shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall
be satisfactory to the Trustee for the Securities of such series) notify such Trustee by Company Request of such Redemption Date and of the principal amount of Securities of that series to be redeemed and shall deliver to such Trustee such
documentation and records as shall enable such Trustee to select the Securities to be redeemed pursuant to Section 1103. In the case of any redemption of Securities of any series prior to the expiration of any restriction on such redemption
provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee for Securities of such series with an Officer’s Certificate evidencing compliance with such restriction. 
 SECTION 1103. Selection by Trustee of Securities to Be Redeemed. 
 If less than all the Securities are to be redeemed, the Company may select the series to be redeemed, and if less than all the Securities of any series
are to be redeemed, the particular Securities of that series to be redeemed 

  

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shall be selected not more than 60 nor less than 30 days prior to the Redemption Date by the Trustee for the Securities of such series, from the Outstanding
Securities of that series not previously called for redemption, pro rata or by lot (as the Company may elect) or by such method as such Trustee shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal
to the minimum authorized denomination for Securities of that series, or any integral multiple thereof) of the principal amount of Securities of that series of a denomination larger than the minimum authorized denomination for Securities of that
series pursuant to Section 302 in the currency in which the Securities of such series are denominated. 
 The Trustee for the Securities
of any series to be redeemed shall promptly notify the Company in writing of the Securities of such series selected for redemption and, in the case of any Securities selected for partial redemption, the principal amount thereof to be redeemed.

 For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall
relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 
 SECTION 1104. Notice of Redemption. 
 Notice of redemption shall be given in the manner provided in Section 106 not later than the thirtieth day and not earlier than the sixtieth day prior to the Redemption Date, to each Holder of Securities to be
redeemed. 
 All notices of redemption shall state: 
 (1) the Redemption Date, 
 (2) the Redemption Price, 
 (3) if less than all Outstanding Securities of a particular
series are to be redeemed, the identification (and, in the case of partial redemption, the respective principal amounts) of the particular Securities to be redeemed, 
 (4) that on the Redemption Date the Redemption Price will become due and payable upon each such Security or portion thereof, and that
interest thereon, if any, shall cease to accrue on and after said date, 
 (5) the place or places where such Securities are
to be surrendered for payment of the Redemption Price, 
 (6) the CUSIP, ISIN or other similar number for such series, if any,
and 
 (7) that the redemption is for a sinking fund, if such is the case. 
 Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s request, by the
Trustee for such Securities in the name and at the expense of the Company. 
 SECTION 1105. Deposit of Redemption
Price. 
 Not later than the date agreed upon between the Company and the Trustee or any Paying Agent (and, in any event, not later than
the applicable Redemption Date), the Company shall deposit with the Trustee for the Securities to be redeemed or with a Paying Agent for such Securities (or, if the Company is acting as its own Paying Agent for such Securities, segregate and hold in
trust as provided in Section 1003) an amount of money in the currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such Series and except as provided in
Sections 31l(b), 31l(d) and 31l(e)) sufficient to pay the principal amount of (and premium, if any, thereon), and (except if the Redemption Date 

  

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shall be an Interest Payment Date) any accrued interest on, all the Securities which are to be redeemed on that date. 
 SECTION 1106. Securities Payable on Redemption Date. 
 Notice of redemption having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the
Redemption Price therein specified in the currency in which the Securities of such series are payable (except as otherwise provided pursuant to Section 301 for the Securities of such series and except as provided in Sections 31l(b), 31l(d) and
31l(e)) and from and after such date (unless the Company shall default in the payment of the Redemption Price) such Securities shall cease to bear interest. Upon surrender of such Security for redemption in accordance with said notice, such Security
or specified portions thereof shall be paid by the Company at the Redemption Price, provided, however that unless otherwise specified as contemplated by Section 301, installments of interest on Securities whose Stated Maturity is
on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, as such at the close of business on the relevant Record Dates according to their terms and the provisions of
Section 307. 
 If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal thereof
(and premium, if any, thereon) shall, until paid, bear interest from the Redemption Date at a rate per annum equal to the rate borne by the Security (or, in the case of Discounted Securities, the Security’s Yield to Maturity). 
 SECTION 1107. Securities Redeemed in Part. 
 Any Security which is to be redeemed only in part shall be surrendered at the Place of Payment (with, if the Company or the Trustee for such Security so requires, due endorsement by, or a written instrument of
transfer in form satisfactory to the Company and the Security Registrar for such Security duly executed by, the Holder thereof or his attorney duly authorized in writing), and the Company shall execute and such Trustee shall authenticate and deliver
to the Holder of such Security without service charge, a new Security or Securities, of any authorized denomination as requested by such Holder, of the same series and having the same terms and provisions and in an aggregate principal amount equal
to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
 SECTION 1108. Tax
Redemption. 
 (a) Unless otherwise specified pursuant to Section 301, Securities of any series may be redeemed for cash at the
option of the Company in whole, but not in part, at any time, at a Redemption Price equal to the principal amount of such Security, together with accrued interest to the date fixed by the Company for redemption and additional amounts, if the Company
determines and certifies to the applicable Trustee immediately prior to the giving of the notice that, as a result of any change in, or amendment to, the laws or treaties (or any regulations or rulings promulgated thereunder) of Japan or the
jurisdiction of organization of any successor entity (or any political subdivision or taxing authority of such jurisdiction) affecting taxation, or any change in the official position regarding the application or interpretation of these laws,
treaties, regulations or rulings (including a holding, judgment or order by a court of competent jurisdiction), which change, amendment, application or interpretation becomes effective on or after the date of the applicable prospectus (or on or
after the date a successor assumes our obligations hereunder), the Company is, or on the next Interest Payment Date would be, required to pay any additional amounts for such Security that cannot be avoided by measures reasonably available to the
Company; provided that no notice of redemption shall be given earlier than 90 days prior to the earliest date on which the Company would be obligated to make the withholding if a payment in respect of the Security were then due. Prior to the
publication and mailing of any notice of redemption of the Securities pursuant to the foregoing, the Company will deliver to the applicable Trustee an Opinion of Counsel or an opinion of a tax consultant of recognized standing to the effect that the
circumstances referred to above exist. The 

  

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applicable Trustee shall accept such Opinion of Counsel or tax opinion, as the case may be, as sufficient evidence of the satisfaction of the conditions
precedent described above, in which event it shall be conclusive and binding on the Holders. 
 ARTICLE TWELVE 
 SINKING FUNDS 
 SECTION 1201. Applicability of This Article. 
 Redemption of Securities through operation of a sinking fund as permitted or
required by any form of Security issued pursuant to this Indenture shall be made in accordance with such form of Security and this Article; provided, however, that if any provision of any such form of Security shall conflict with any
provision of this Article, the provision of such form of Security shall govern. 
 The minimum amount of any sinking fund payment provided
for by the terms of Securities of any particular series is herein referred to as a “mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the term of Securities of any particular series is herein
referred to as an “optional sinking fund payment”. If provided for by the terms of Securities of any particular series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 1202. Each sinking
fund payment shall be applied to the redemption of Securities of any particular series as provided for by the terms of Securities of that series. 
 SECTION 1202. Satisfaction of Sinking Fund Payments With Securities. 
 The Company (1) may
deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may apply as a credit Securities of a series which have been redeemed either at the election of the Company pursuant to the terms of such
Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series
required to be made pursuant to the terms of such Securities as provided for by the terms of such series; provided, however, that such Securities have not been previously so credited. Such Securities shall be received and credited for
such purpose by the Trustee for such Securities at the principal amount thereof and the amount of such sinking fund payment shall be reduced accordingly. 
 SECTION 1203. Redemption of Securities for Sinking Fund. 
 Not less than 60 days prior to each sinking
fund payment date for any particular series of Securities, the Company will deliver to the Trustee for the Securities of such series an Officer’s Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that
series pursuant to the terms of that series, the portion thereof if any, which is to be satisfied by payment of cash in the currency in which the Securities of that series are payable (except as otherwise specified pursuant to Section 301 for
the Securities of that series and except as provided in Sections 311(b), 311(d) and 311(e)) and the portion thereof, if any, which is to be satisfied by delivering and crediting Securities of that series pursuant to Section 1202 and shall state
the basis for such credit and that such Securities have not previously been so credited and will also deliver to such Trustee any Securities to be so delivered. Such Trustee shall select the Securities to be redeemed upon such sinking fund payment
date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 1104. Such notice having been duly given, the redemption
of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107. 
  

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 ARTICLE THIRTEEN 
 DEFEASANCE AND COVENANT DEFEASANCE 
 SECTION 1301. Company’s Right with
Respect to Defeasance or Covenant Defeasance. 
 The Company will have the right, at any time, to have Section 1302 or 1303 applied
to any Securities or any series of Securities, or a specified part of a series, as the case may be (other than Securities of a series designated pursuant to Section 301 as not being defeasible pursuant to such Section 1302 or 1303), upon
compliance with the conditions set forth below in this Article. Any such request shall be evidenced by a Company Order or in another manner specified as contemplated by Section 301 for such Securities. If payment at Stated Maturity of less than
all of the Securities of any series is to be provided for in the manner and with the effect provided in this Section, the Trustee shall select such Securities, or portions or principal amount thereof, in the manner specified by Section 1103 for
selection for redemption of less than all the Securities of a series. 
 SECTION 1302. Defeasance and Discharge.

 Upon the Company’s exercise of its right to have this Section applied to any Securities or any series of Securities, or a specified
part of a series, as the case may be, the Company shall be deemed to have been discharged from its obligations with respect to such Securities as provided in this Section on and after the date the conditions set forth in Section 1304 are
satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and to have satisfied all its other
obligations under such Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the request and expense of the Company, shall execute proper instruments acknowledging the same), subject to the following which shall
survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of such Securities to receive, solely from the trust fund described in Section 1304 and as more fully set forth in such Section, (i) payments in
respect of the principal of and any premium and interest on the Outstanding Securities on the Stated Maturity of such principal or installment of principal of and any premium or interest and (ii) the benefit of any mandatory sinking fund
payments applicable to the Securities on the day on which such payments are due and payable in accordance with the terms of this Indenture and the Securities, (b) the Trustee’s and the Company’s obligations with respect to such
Securities under Sections 304, 305, 306, 1002 and 1003, (c) the rights, powers, trusts, duties, indemnities and immunities of the Trustee hereunder and (d) this Article. Subject to compliance with this Article, the Company may exercise its
option to have this Section applied to any Securities notwithstanding the prior exercise of its option to have Section 1303 applied to such Securities. 
 SECTION 1303. Covenant Defeasance. 
 Upon the Company’s exercise of its right to have this Section applied to any Securities or any series of Securities, as the case may be, (a) the Company shall be released from its obligations under Sections
1006 and 1007, and any covenants provided pursuant to item (16) of Section 301 relating to covenants of the Company with respect to a particular series of Securities, item (2) of Section 901 for the benefit of the Holders of such
Securities and (b) the occurrence of any event specified in item (4) of Section 501 (with respect to Sections 1006 and 1007, and any such covenants provided pursuant to item (16) of Section 301 relating to covenants of the
Company with respect to a particular series of Securities or item (2) of Section 901) and item (3) of Section 501 shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities as
provided in this Section on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such 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 specified Section (to the extent so specified in the case of item (4) of Section 501), whether directly
or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities shall be
unaffected thereby. 
  

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 SECTION 1304. Conditions to Defeasance or Covenant Defeasance. 
 The following shall be the conditions to the application of Section 1302 or Section 1303 to any Securities or any series of Securities, or a
specified part of a series, as the case may be: 
 (a) with respect to all Outstanding Securities of such series not theretofore delivered to
the Trustee of such series for cancellation 
 (i) the Company has deposited or caused to be deposited with such Trustee as
trust funds in trust an amount in the currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series and except as provided in Sections 31l(b), 31l(d) and
311(e), in which case the deposit to be made with respect to Securities for which an election has occurred pursuant to Section 311(b), or a Conversion Event has occurred as provided in Sections 311(d) and 311(e), shall be made in the currency
in which such Securities are payable as a result of such election or Conversion Event), sufficient to pay and discharge the entire indebtedness on all such Outstanding Securities of such series for principal (and premium if any) and interest, if
any, to the Stated Maturity or any Redemption Date as contemplated by Section 402, as the case may be, and any mandatory sinking fund payments applicable to the Securities on the day on which such payments are due and payable in accordance with
the terms of this Indenture and such Securities; or 
 (ii) the Company has deposited or caused to be deposited with such
Trustee as obligations in trust such amount of Government Obligations as will, as evidenced by a Certificate of a Firm of Independent Public Accountants delivered to such Trustee, together with the predetermined and certain income to accrue thereon
(without consideration of any reinvestment thereof), be sufficient to pay and discharge when due the entire indebtedness on all such Outstanding Securities of such series for unpaid principal (and premium, if any) and interest, if any, to the Stated
Maturity or any Redemption Date as contemplated by Section 402, as the case may be, and any mandatory sinking fund payments applicable to the Securities on the day on which such payments are due and payable in accordance with the terms of this
Indenture and such Securities; or 
 (iii) the Company has deposited or caused to be deposited with such Trustee in trust an
amount equal to the amount referred to in clause (i) or (ii) in any combination of currency or Government Obligations; 
 (b) such
deposit will not result in a breach or violation of or constitute a default under, this Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 
 (c) in the event of an election to have Section 1302 apply to any Securities or any series of Securities, as the case may be, the Company shall have
delivered to the Trustee an Opinion of Counsel stating that (1) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (2) since the date of this instrument there has been a change in the
applicable Federal income tax law, in either case (1) or (2) to the effect that, and based thereon such opinion shall confirm that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result
of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit, Defeasance and
discharge were not to occur; 
 (d) in the event of an election to have Section 1303 apply to any Securities or any series of
Securities, as the case may be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit and
Covenant Defeasance to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur;

 (e) no Event of Default or event which with the giving of notice or lapse of time, or both, would become an Event of Default with respect
to the Securities of that series shall have occurred and be continuing on the date of 

  

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such deposit and no Event of Default under Section 501(5) or Section 501(6) or event which with the giving of notice or lapse of time, or both,
would become an Event of Default under Section 501(5) or Section 501(6) shall have occurred and be continuing at any time on or prior to the 90th day after the date of such deposit (it being understood that this condition shall not be
deemed satisfied until after such 90th day); 
 (f) 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 defeasance contemplated in the Section have been complied with; 
 (g) such Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting interest within the meaning of the Trust Indenture Act (assuming all Securities are in default within the meaning of such
Act); 
 (h) such Defeasance or Covenant Defeasance shall not result in the trust arising from such deposit constituting an investment
company within the meaning of the United States Investment Company Act of 1940 unless such tug shall be registered under such Act or exempt from registration thereunder; 
 (i) notwithstanding any other provisions of this Section 1304, 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 301; 
 (j) In the case of a redemption, before or
contemporaneously with a deposit, the Company shall have given any applicable notice of redemption in accordance with Article Eleven and the terms of such Securities or shall have given irrevocable authority to the Trustee to give such applicable
notice of redemption in accordance with Article Eleven and the terms of such Securities under arrangements satisfactory to the Trustee; and 
 (k) On the date of such deposit, the Company shall give a notice, in the same manner as a notice of redemption with respect to such Securities, to the Holders of such Securities to the effect that such deposit has been made and the effect
thereof; provided, however, that the failure to give such notice shall not affect the validity of the proceedings relating to deposit. 
 SECTION 1305. Deposited Money and Government Obligations to be Held in Trust: Miscellaneous Provisions. 
 All money and Government Obligations (including the proceeds thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 1306, the Trustee and any such other trustee are referred to
collectively as the “Trustee”) pursuant to Section 1304 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either
directly or through any such Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and
interest, but money so held in trust need not be segregated from other funds except to the extent required by law. 
 The Company shall pay
and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the Government Obligations deposited pursuant to Section 1304 or the principal and 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 Outstanding Securities. 
 Subject to applicable abandoned property laws,
anything in this Article 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 held by it as provided in Section 1304 with respect to any
Securities 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 the Defeasance or Covenant Defeasance, as the case may be, with respect to such Securities. 
  

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 SECTION 1306. Reinstatement. 
 If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any Securities by reason of any order or
judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities from which the Company has been discharged or released pursuant to
Section 1302 or 1303 shall be revived and reinstated as though no deposit had occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money held in trust
pursuant to Section 1305 with respect to such Securities in accordance with this Article; provided, however, that if the Company makes any payment of principal of or any premium or interest on any such Security following such
reinstatement of its obligations, the Company shall be subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money so held in trust. 
  

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 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed
to be an original, but all such counterparts shall together constitute but one and the same instrument. 
 IN WITNESS WHEREOF, the parties
hereto have caused this Indenture dated as of             , 2006 to be duly executed all as of the             day of
            , 2006. 
 MITSUBISHI UFJ FINANCIAL GROUP, INC.

			
		
	By:	 	  
	 Name:
 Title:

 JPMORGAN CHASE BANK, N.A., 
 as Trustee 

			
		
	By:	 	  
	 Name:
 Title:

  

 59

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