Document:

ocdx-ex103_9.htm

Exhibit 10.3

 

SHAREHOLDERS AGREEMENT
OF
ORTHO CLINICAL DIAGNOSTICS HOLDINGS PLC

This Shareholders Agreement (“Agreement”) is entered into as of this 25th day of January, 2021, by and among Ortho Clinical Diagnostics Holdings plc, a public limited company incorporated and registered in England and Wales (the “Company”), Carlyle Partners VI Cayman Holdings, L.P., a Cayman Islands exempted limited partnership (the “Initial Carlyle Shareholder”) and certain consultants and their affiliated entities and members of management of the Company and/or its Subsidiaries that are parties hereto and that hold, or may hereafter be issued, Shares (each such Person, in its, his or her capacity as the holder of such Shares, collectively the “Management Shareholders”).  The names of the Management Shareholders as of the date hereof are set forth on Schedule I.  Certain capitalized terms used herein without definition have the meanings ascribed to them in Section 6 hereof.

RECITALS:

WHEREAS, substantially concurrently with the execution of this Agreement, the Initial Carlyle Shareholder and the Management Shareholders signatory hereto have exchanged (the “Exchange”) ordinary shares, par value USD $0.00001 per share (“Ortho Bermuda Shares”), in Ortho-Clinical Diagnostics Bermuda Co. Ltd. (“Ortho Bermuda” and wholly-owned Subsidiary of the Company) for a number of ordinary shares of nominal value USD $0.00001 per share in the Company (“Shares”); 

WHEREAS, the Parties are party to that certain Stockholders Agreement of Ortho Bermuda, dated as of June 25, 2014 (the “Original Agreement”) and, in connection with the Exchange, the Parties are amending and restating the Original Agreement in the form of this Agreement;

WHEREAS, Company has issued (or may hereafter issue) and, prior to the Exchange, Ortho Bermuda has issued, to the Management Shareholders (i) Shares and/or Ortho Bermuda Shares pursuant to one or more subscription agreements (the “Subscription Agreements”) and/or (ii) options, warrants or other rights to subscribe for or purchase Shares or Bermuda Shares (“Options”), pursuant to one or more option grant agreements (the “Option Agreements”), in each case adopted by the board of directors of the Company (the “Board of Directors”) or Ortho Bermuda;

WHEREAS, as a result of the Exchange, the Initial Carlyle Shareholder and the Management Shareholders hold, as of the date hereof, the number of Shares set forth on Schedule I;

WHEREAS, in connection with the Exchange, the Company, the Initial Carlyle Shareholder and the Management Shareholders are executing this Agreement; and

WHEREAS, the Parties hereto desire to promote the interests of the Company and the mutual interests of the Shareholders by establishing herein certain terms and conditions upon 

 

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which the Shares will be held, including provisions restricting the transfer of such, and providing for other matters. 

AGREEMENT:

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements set forth herein, and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Parties hereto, intending to be legally bound, hereby agree as follows:

	
Section 1.
	
Restrictions on Transfer.

Except for any Permitted Transfer (as defined below), no Management Shareholder shall Transfer any Shares without the prior written approval of the Board of Directors of the Company; provided, however, that, following the 180th day after the consummation of the initial public offering of Shares by the Company (the “IPO”), (a) any Current Management Shareholder (other than any Section 16 Shareholder) may, without the approval of the Board of Directors of the Company otherwise required by this sentence, (i) in calendar year 2021, Transfer up to a maximum aggregate number of Shares equal to 50% of such Current Management Shareholder’s Total Vested Share Amount and (ii) following calendar year 2021, Transfer any Shares held by such Current Management Shareholder, (b) any Section 16 Shareholder (other than a Smith Shareholder) may, without the approval of the Board of Directors of the Company otherwise required by this sentence, (i) in calendar year 2021, Transfer up to a maximum aggregate number of Shares equal to 25% (or, if the Minimum Price Condition applies at such time, 10%) of such Section 16 Shareholder’s Total Share Amount, (ii) after calendar year 2021, Transfer up to a maximum aggregate number of Shares equal to the excess of (A) 60% (or, if the Minimum Price Condition applies at such time, 25%) of such Section 16 Shareholder’s Total Share Amount over (B) the number of Shares Transferred by such Section 16 Shareholder in 2021 and (iii) after calendar year 2022, Transfer any Shares issued to such Section 16 Shareholder upon the exercise of stock option awards granted under the Ortho-Clinical Diagnostics Bermuda Co. Ltd. 2014 Equity Incentive Plan prior to December 1, 2019, (c) any Smith Shareholder may, without the approval of the Board of Directors of the Company otherwise required by this sentence, (i) in calendar year 2021, Transfer up to a maximum aggregate number of Shares equal to 10% (or, if the Minimum Price Condition applies at such time, 5%) of such Smith Shareholder’s Total Share Amount, and (ii) after calendar year 2021, Transfer up to a maximum aggregate number of Shares equal to the excess of (A) 25% (or, if the Minimum Price Condition applies at such time, 12.5%) of such Smith Shareholder’s Total Share Amount over (B) the number of Shares Transferred by such Smith Shareholder in 2021, (d) any Former ELT Shareholder may, without the approval of the Board of Directors of the Company otherwise required by this sentence, Transfer up to a maximum aggregate number of Shares equal to the product of (i) the Carlyle Sale Percentage (determined as of the date that is 60 days prior to the applicable Transfer by such Former ELT Shareholder) and (ii) such Former ELT Shareholder’s Total Share Amount and (e) any Former Employee Shareholder may, without the approval of the Board of Directors of the Company otherwise required by this sentence, (i) in calendar year 2021, Transfer up to a maximum aggregate number of Shares equal to 33% of such 

 

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Former Employee Shareholder’s Total Share Amount and (ii) following calendar year 2021, Transfer any Shares held by such Former Employee Shareholder.  Each Management Shareholder further agrees that in connection with any Transfer permitted hereby, such Management Shareholder shall, if requested by the Company, deliver to the Company an opinion of counsel, in form and substance reasonably satisfactory to the Company and counsel for the Company, to the effect that such Transfer is not in violation of this Agreement, the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (the “Securities Act”), or the securities laws of any state.  It shall be a condition to any Permitted Transfer, or (prior to the IPO) any Transfer by any Management Shareholder approved by the Board of Directors of the Company, that (x) except to the extent waived in writing by the Company, the Management Shareholder give the Company at least twenty (20) days’ prior written notice of such Permitted Transferee and (y) the transferee shall (i) agree to become a Party to this Agreement as a “Management Shareholder”, (ii) execute a signature page in the form attached as Exhibit A hereto (each, a “Joinder Agreement”) acknowledging that such transferee agrees to be bound by the terms hereof, (iii) in the case of a Permitted Transfer pursuant to clause (a) of the definition of “Permitted Transfer”, grant the transferring Management Shareholder an irrevocable proxy to vote such Shares, (iv) if such transferee is a natural person and a resident of a state or other jurisdiction with a community or marital property system, cause such transferee’s spouse, if any, to execute and deliver to the Company a spousal consent in the form attached as Exhibit B hereto.  The Management Shareholder shall give the Company prompt notice of any actual Permitted Transfer.  The Company shall not be required to (a) transfer on its books any Shares which have been Transferred in violation of any of the provisions of this Agreement or (b) treat as owner of such Shares or to accord the right to vote as such owner or to pay dividends to any transferee to whom such Shares shall have been so Transferred.  Any purported Transfer in violation of the provisions of Section 1 shall be null and void and shall have no force or effect.  For the avoidance of doubt, no Shares that are not vested (and no Shares issuable upon the exercise of Options, until issued upon the exercise of vested Options) may be transferred pursuant to the exemptions described in this Section 1.  For the avoidance of doubt, the restrictions set forth in this Section 1 apply, mutatis mutandis, to depositary receipts (or similar instruments) representing interests in Shares.

	
Section 2.
	
Permitted Transfers.

Notwithstanding anything herein to the contrary, the restrictions and rights set forth in the first sentence of Section 1 shall not apply to: (a) any Transfer of Shares by a Management Shareholder that is an individual by gift to, or for the benefit of, any member or members of his or her immediate family (which shall include any spouse, lineal ancestor or descendant or sibling) or to a trust, partnership or limited liability company for the benefit of such family members; provided, however, that such Management Shareholder shall retain sole and exclusive control over the voting and disposition of such Shares until the termination of this Agreement; (b) any Transfer of Shares by a Management Shareholder that is an individual to the heirs, executors or legatees of such Management Shareholder by operation of law upon the death or incapacity of such Management Shareholder; or (c) any Transfer of Shares by a Management Shareholder that is not an individual to any Affiliate of such Management Shareholder (each of the Transfers referenced in clauses (a), (b) and (c) above being referred to herein as a “Permitted 

 

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Transfer”); provided, however, that, in each case, such Transfer is effected in compliance with all of the provisions of Section 1 hereof (other than the restrictions contained in the first sentence of Section 1 hereof).  The recipient of any Shares pursuant to the foregoing shall be referred to herein as a “Permitted Transferee” and shall be deemed a “Management Shareholder” for all purposes of this Agreement.

Section 3.Affiliate Transactions.  

The Management Shareholders acknowledge and approve the Amended and Restated Consulting Services Agreement, dated as of October 15, 2020, between Ortho-Clinical Diagnostics, Inc. and Carlyle Investment Management L.L.C., and the fees to be paid to Carlyle Investment Management, L.L.C. thereunder.

	
Section 4.
	
Termination.

This Agreement, and the respective rights and obligations of the Parties, shall terminate upon the earlier of (a) the consummation of a Company Sale, unless the Management Shareholders will receive or return securities in such Company Sale and the Board of Directors determines that this Agreement should remain in effect with respect to such securities following such transaction and (b) a written election to terminate this Agreement executed by the Carlyle Shareholders holding a majority of the Shares then held by all Carlyle Shareholders.

	
Section 5.
	
Certain Definitions.

(a)As used in this Agreement, the following terms shall have the meanings set forth below.

“Affiliate” means, with respect to any Person, any Person directly or indirectly controlling, controlled by or under common control with such Person.  For purposes of this definition, “control” (and its derivatives) means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether by contract, through the ownership of voting securities, as trustee or executor, or otherwise.

“Carlyle Sale Percentage” means, as of any date, that fraction (expressed as a percentage) the numerator of which is the aggregate number of Shares Transferred by the Carlyle Shareholders during the period beginning on January 1, 2021 and ending on such date, and the denominator of which is the aggregate Total Share Amount of the Carlyle Shareholders.

“Carlyle Shareholders” means (i) the Initial Carlyle Shareholder, (ii) any Affiliate of the Initial Carlyle Shareholder that is issued any Shares or Options after the date hereof and (iii) any subsequent transferee of the Shares or Options held by the Persons listed in clause (i) or clause (ii) above.

“Closing Price” means, for any day, the price determined by the first of the following clauses that applies: (i) if the Shares are then listed or quoted on the New York Stock Exchange or the Nasdaq Stock Market (each an “Approved Market”), the last sale price of the 

 

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Shares for such date (or the nearest preceding date) on the primary Approved Market on which the Shares are then listed or quoted as reported by Bloomberg Financial L.P.; and (ii) in all other cases, the fair market value of a Share as determined by the Board of Directors and the Carlyle Shareholders in good faith.

“Company Sale” means the consummation of any transaction or series of transactions (including, without limitation, any merger, recapitalization, reorganization, sale of stock or other similar transaction) pursuant to which one or more Persons or group of Persons (other than the Initial Carlyle Shareholder) acquires (i) shares of the Company possessing the voting power sufficient to elect a majority of the members of the Board of Directors or the board of directors of the successor to the Company (whether such transaction is effected by amalgamation, merger, consolidation, recapitalization, sale or transfer of the Company’s shares or otherwise) or (ii) all or substantially all of the assets of the Company and its Subsidiaries. 

“Current Management Shareholder” means, as of any date, (i) Christopher Smith and any other Management Shareholder that is a director, manager, officer or employee of the Company or any of its Subsidiaries as of the close of business on the 180th day after the consummation of the IPO (excluding, in each case in this clause (i), with respect to any Transfer following calendar year 2022, any Management Shareholder who, at the time of such Transfer, is not a director, manager, officer or employee of the Company or any of its Subsidiaries) and (ii) any other Management Shareholder solely (in the case of this clause (ii)) with respect to any Shares that were (A) Transferred to such Management Shareholder pursuant to one or more Permitted Transfers and (B) previously held by (or issued upon the exercise of Options held by) an individual who, as of such date, is a Current Management Shareholder. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

“Former ELT Shareholder” means (i) each of GST Exempt Separate Family Trust c/u the Martin D. Madaus 2012 Irrevocable Trusts, Charles F. Wagner, Jr. and the Alexander Antonio Socarras Revocable Trust and (ii) any other Management Shareholder solely (in the case of this clause (ii)) with respect to any Shares that were (A) Transferred to such Management Shareholder pursuant to one or more Permitted Transfers and (B) previously held by (or issued upon the exercise of Options held by) a Management Shareholder named in clause (i).

“Former Employee Shareholder” means, as of any date and with respect to the applicable Shares to be transferred, any Management Shareholder that is neither a Current Management Shareholder nor a Former ELT Shareholder.

 “Minimum Price Condition” means that (and is considered to apply if), on the date of a Transfer, the Closing Price has been less than 75% of the public offering price of the Shares as set forth on the cover of the prospectus related to the IPO on twenty or more of the thirty days immediately prior to such date.

“Party” means any of the parties to this Agreement.

 

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“Person” means any individual, corporation, partnership, limited partnership, limited liability company, syndicate, trust, association or other entity.

“SEC” means the United States Securities and Exchange Commission.

“Section 16 Shareholder” means (i) any Current Management Shareholder who (A) as of the 180th day after consummation of the IPO, would be required to file a report with the SEC pursuant to Section 16 of the Exchange Act with respect to a Transfer of Shares on such date (whether or not such Current Management Shareholder continues to be required to file such reports at the time of a Transfer) or (B) with respect to any Transfer of Shares, would be required to file a report with the SEC pursuant to Section 16 of the Exchange Act, and (ii) any other Management Shareholder solely (in the case of this clause (ii)) with respect to any Shares that were (A) Transferred to such Management Shareholder pursuant to one or more Permitted Transfers and (B) previously held by (or issued upon the exercise of Options held by) an individual who, as of such date, is a Section 16 Shareholder.  

“Subsidiary” of any Person means any other Person (i) of which such first Person (either alone or through or together with any other Subsidiary) owns, directly or indirectly, more than fifty percent (50%) of the stock or other equity securities of such other Person, the holders of which are generally entitled to vote for the election of the board of directors or other governing body of, or otherwise control the business and affairs of, such other Person or (ii) the operations of which are consolidated with such first Person, pursuant to United States General Accepted Accounting Principles, for financial reporting purposes.

“Shareholders” means the Carlyle Shareholders and the Management Shareholders.

“Smith Shareholder” means, so long as Christopher Smith is a Current Management Shareholder (whether or not he continues to be the Chief Executive Officer of the Company), (i) Christopher Smith and (ii) any other Management Shareholder solely (in the case of this clause (ii)) with respect to any Shares that were (A) Transferred to such Management Shareholder pursuant to one or more Permitted Transfers and (B) previously held by (or issued upon the exercise of Options held by) Mr. Smith.

“Total Share Amount” means, with respect to any Shareholder, the sum of (i) the number of Shares held or beneficially owned by such Shareholder on January 1, 2021 (in the case of Transfers in 2021) or on January 1, 2022 (in the case of Transfers after 2021), (ii) the number of Shares that would be issued upon the exercise, as of such date, of all Options held by such Shareholder on January 1, 2021 (in the case of Transfers in 2021) or on January 1, 2022 (in the case of Transfers after 2021) and (iii) in the case of Transfers after 2021, the number of Shares Transferred by such Shareholder in 2021 following the 180th day after consummation of the IPO.

“Total Vested Share Amount” means, with respect to any Current Management Shareholder, the sum of (i) the number of vested Shares held or beneficially owned by such Current Management Shareholder on the 180th day after consummation of the IPO and (ii) the 

 

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number of Shares that would be issued upon the exercise, as of such date, of all vested Options held by such Current Management Shareholder on the 180th day after consummation of the IPO.

“Transfer” means any direct or indirect sale, transfer, assignment, conveyance, pledge or other encumbrance or disposition.  

(b)The following terms have the meaning set forth in the Sections set forth below:

 

	
 
	
Defined Term
	
Location of Definition

	
 
	
 
	
 

	
 
	
Agreement
	
Preamble

	
 
	
Board of Directors
	
Recitals

	
 
	
Company
	
Preamble

	
 
	
Exchange
	
Recitals

	
 
	
Initial Carlyle Shareholder
	
Preamble

	
 
	
Management Shareholder
	
Preamble

	
 
	
Option Agreements
	
Recitals

	
 
	
Ortho Bermuda
	
Recitals

	
 
	
Ortho Bermuda Shares
	
Recitals

	
 
	
Permitted Transfer
	
Section 2

	
 
	
Permitted Transferee
	
Section 2

	
 
	
Securities Act
	
Section 1

	
 
	
Shares
	
Recitals

	
 
	
Subscription Agreements
	
Recitals

 

	
Section 6.
	
Miscellaneous.

(a)Legends.  Each certificate representing the securities issued by the Company and held by a Shareholder shall bear the following legends:

“THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND ARE “RESTRICTED SECURITIES” AS THAT TERM IS DEFINED IN RULE 144 UNDER THE ACT. THESE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED EXCEPT (I) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT, OR (II) UNLESS THE ISSUER HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO IT THAT THESE SECURITIES MAY BE SOLD PURSUANT TO RULE 144 OR ANOTHER AVAILABLE EXEMPTION UNDER THE 

 

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ACT AND THE RULES AND REGULATIONS THEREUNDER.”

“THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN THAT CERTAIN SHAREHOLDERS’ AGREEMENT OF ORTHO CLINICAL DIAGNOSTICS HOLDINGS PLC, DATED AS OF JANUARY 25, 2021, A COPY OF WHICH MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.”

(b)Successors, Assigns and Transferees.  This Agreement shall be binding upon and inure to the benefit of the Parties and their respective legal representatives, heirs, legatees, successors, and assigns and any other transferee and shall also apply to any securities acquired by a Shareholder after the date hereof.

(c)Governing Law.  This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware.

(d)Specific Performance; Submission to Jurisdiction.  The Parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached.  It is accordingly agreed that the Parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in federal and state courts located in Wilmington, Delaware, USA, this being in addition to any other remedy to which such party is entitled at law or in equity.  In addition, each of the parties hereto (i) consents to submit itself to the personal jurisdiction of the federal and state courts located in Wilmington, Delaware in the event any dispute arises out of this Agreement or any of the transactions contemplated by this Agreement; (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from such court, (iii) agrees that it will not bring any action relating to this Agreement or any of the transactions contemplated by this Agreement in any court other than the federal or state courts located in the Wilmington, Delaware, USA, and (iv) to the fullest extent permitted by Law, consents to service being made through the notice procedures set forth in Section 6(f).  Each party hereto hereby agrees that, to the fullest extent permitted by applicable law, service of any process, summons, notice or document by U.S. registered mail to the respective addresses set forth in Section 6(f) shall be effective service of process for any suit or proceeding in connection with this Agreement or the transactions contemplated hereby.

(e)Interpretation.  The headings of the Sections contained in this Agreement are solely for the purpose of reference, are not part of the agreement of the Parties and shall not affect the meaning or interpretation of this Agreement.

(f)Notices.  All notices and other communications provided for or permitted hereunder shall be in writing and shall be deemed to have been duly given and received when 

 

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delivered by overnight courier or hand delivery, when sent by telecopy, or five days after mailing if sent by registered or certified mail (return receipt requested) postage prepaid, to the Parties at the following addresses (or at such other address for any Party as shall be specified by like notices).

	
 
	
(i)
	
If to any Carlyle Shareholder, addressed to such Carlyle Shareholder, c/o The Carlyle Group, at:

520 Madison Avenue
42nd Floor
New York, NY  10022

Attention: Stephen H. Wise

Facsimile: (212) 893-4901

With a copy to:

Latham & Watkins LLP
555 Eleventh Street, N.W.
Suite 1000

Washington, D.C. 20004

Attention:  Daniel T. Lennon

David I. Brown
Facsimile: (202) 637-2201

 

	
 
	
(ii)
	
If to any Management Shareholder, to the address set forth on such Shareholder’s signature page hereto.

	
 
	
(vi)
	
If to the Company:

c/o Ortho-Clinical Diagnostics, Inc.

1001 Route 202
Raritan, NJ 08869
Attention: Michael A. Schlesinger

Facsimile: (844) 892-5398

 

With a copy to:

Latham & Watkins LLP
555 Eleventh Street, N.W.
Suite 1000

Washington, D.C. 20004

Attention:  Daniel T. Lennon

David I. Brown
Facsimile: (202) 637-2201

 

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(g)Recapitalization, Exchange, Etc. Affecting the Company’s Shares. The provisions of this Agreement shall apply, to the full extent set forth herein, with respect to any and all Shares and/or other classes of shares or equity securities of the Company or any successor or assign of the Company (whether by amalgamation, merger, consolidation, sale of assets, or otherwise) that may be issued in respect of, in exchange for, or in substitution of such Shares, and shall be appropriately adjusted for any issue of bonus shares, splits, reverse splits, combinations, recapitalizations, and the like occurring after the date hereof.  

(h)Counterparts.  This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to constitute one and the same agreement.

(i)Attorney’s Fees.  In any action or proceeding brought to enforce any provision of this Agreement, the successful Party shall be entitled to recover reasonable attorney’s fees and expenses in addition to any other available remedy.  

(j)Severability.  In the event that any one or more of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal, or unenforceable in any respect for any reason, the validity, legality, and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be in any way impaired thereby.

(k)Amendment.  Any provision of this Agreement may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively or prospectively), only by the written consent of the Company and the Carlyle Shareholders.  Notwithstanding the foregoing, if any such amendment or waiver would materially adversely affect the rights or obligations of the Management Shareholders, then such amendment or waiver shall require the prior written consent of the Management Shareholders holding a majority of the Shares then held by all Management Shareholders.  Any amendment or waiver effected in accordance with this Section 6(k) shall be binding upon the Company, the Carlyle Shareholders and their successors and assigns and the Management Shareholders and their successors and assigns.  At any time hereafter, additional Management Shareholders may be made parties hereto by executing a signature page in the form attached as Exhibit A hereto, which signature page shall be countersigned by the Company and shall be attached to this Agreement and become a part hereof without any further action of any other Party hereto.  Notwithstanding the foregoing, (i) effective on the date hereof, the Parties hereby amend and restate the Original Agreement in the form hereof, (ii) the Parties acknowledge that the Exchange and the entry into this Agreement are in contemplation of the IPO and (iii) if the Carlyle Shareholders or the Company make a determination, each in their sole discretion, to terminate or no longer pursue the IPO after the date hereof, the Company and the Carlyle Shareholders will be permitted to amend this Agreement to include provisions that are substantially comparable to Sections 2, 3, 5, 9(g) and 9(m) of the Original Agreement. 

(l)Tax Withholding.  The Company, the Carlyle Shareholders and any Third Party Purchasers, as applicable, shall be entitled to require payment in cash or deduction from 

 

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other compensation payable to any Shareholder of any sums required by federal, state, or local tax law to be withheld with respect to the issuance, vesting, exercise, purchase, repurchase, or cancellation of any Share or any Option.  Each Management Shareholder shall provide the Company with a properly completed and duly executed Internal Revenue Service Form W-9 or W-8, as appropriate, and in each case any required supporting documentation, on the date hereof and from time to time thereafter promptly upon the obsolescence or invalidity of any such form previously delivered.

(m)Entire Agreement.  This Agreement and (with respect to the Company) the Subscription Agreements and Option Agreements (including, in each case, any and all exhibits, schedules and other instruments contemplated thereby) constitute the entire agreement of the Parties with respect to the subject matter hereof.

[Remainder of Page Intentionally Left Blank.]

 

 

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IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first written above.

 

 

 

	
ORTHO CLINICAL DIAGNOSTICS HOLDING PLC

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
By:
	
 
	
/s/ John K. Sanders

	
 
	
 
	
Name:
	
John K. Sanders

	
 
	
 
	
Title:
	
Vice President, Finance, and Treasurer

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

	
INITIAL CARLYLE SHAREHOLDER:

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
Carlyle Partners VI Cayman Holdings, L.P.

	
 
	
 
	
 
	
 

	
By:
	
 
	
TC Group VI Cayman, L.P.

	
Its:
	
 
	
General Partner

	
 
	
 
	
 

	
By:
	
 
	
TC Group VI Cayman, L.L.C.

	
Its:
	
 
	
General Partner

	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 

	
By:
	
 
	
/s/ Jeremy W. Anderson

	
Name:
	
 
	
Jeremy W. Anderson

	
Title:
	
 
	
Authorized Person

	
 
	
 
	
 

	
 
	
 
	
 

 

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

	
Hull Living Trust

	
 
	
 
	
 

	
By:
	
 
	
/s/ Carl Hull

	
Name:
	
 
	
Carl Hull

	
Title:
	
 
	
Trustee

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Akihiro Kadokura

	
Akihiro Kadokura

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Alexander Tosi

	
Alexander Tosi

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Beatriz Lopez-Galvis

	
Beatriz Lopez-Galvis

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 

	
 

	
/s/ Bryan Lisa

	
Bryan Lisa

	
 

	
Address for Notices:

	
 

	
[***]

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

	
/s/ Carl Hull

	
Carl Hull

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Christopher Ellison

	
Christopher Ellison

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 

	
 
	
 
	
 

	
/s/ Daniel Sattler

	
Daniel Sattler

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ David Perez

	
David Perez

	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Frederic Vanderhaegen

	
Frederic Vanderhaegen

	
 

	
Address for Notices:

	
 

	
[***]

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

	
/s/ John Eckhardt

	
John Eckhardt

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ John Sanders

	
John Sanders

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ José E. Almeida

	
José E. Almeida

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Kevin Doran

	
Kevin Doran

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Kurt Ambs

	
Kurt Ambs

	
 

	
Address for Notices:

	
 

	
[***]

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

 

	
/s/ Marie Foglia

	
Marie Foglia

	
 
	
 
	
 

	
 
	
 
	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Mark Loeser

	
Mark Loeser

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Michael Schlesinger

	
Michael Schlesinger

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Ronald Labrum

	
Ronald Labrum

	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Susan M. Welsh

	
Susan M. Welsh

	
 

	
Address for Notices:

	
[***]

	
 

 

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

 

	
/s/ Thomas Callihan

	
Thomas Callihan

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Thomas P. Mac Mahon

	
Thomas P. Mac Mahon

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Tony Casina

	
Tony Casina

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Zhong Ding

	
Zhong Ding

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

 

 

	
Alexander Antonio Socarras Revocable Trust

	
 
	
 
	
 

	
By:
	
 
	
/s/ Alexander Socarras

	
 
	
 
	
 

	
Name:
	
 
	
Alexander Socarras

	
 
	
 
	
 

	
Title:
	
 
	
Trustee

	
 

	
 
	
 
	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 

	
 
	
 
	
 

	
/s/ Anouk De Rudder

	
Anouk De Rudder

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 

	
 
	
 
	
 

	
/s/ Brian Buon

	
Brian Buon

	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 

	
 
	
 
	
 

	
/s/ Christopher M. Smith

	
Christopher M. Smith

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

	
/s/ Daniel Carlson

	
Daniel Carlson

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 

	
 
	
 
	
 

	
/s/ David Kurlander

	
David Kurlander

	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 

	
/s/ James M. Pochodylo

	
James M. Pochodylo

	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Jay Snyder

	
Jay Snyder

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Karen Warren

	
Karen Warren

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

	
/s/ Kristie Bouryal

	
Kristie Bouryal

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 

	
 
	
 
	
 

	
/s/ Lifang Chen

	
Lifang Chen

	
 

	
Address for Notices:

	
 

	
[***]

	
 
	
 
	
 

	
 

	
 
	
 
	
 

	
/s/ Nicholas Gould

	
Nicholas Gould

	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Pamela Taylor

	
Pamela Taylor

	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Patricia Cathcart

	
Patricia Cathcart

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

 

 

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

	
/s/ Phillip Nuccio

	
Phillip Nuccio

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 

	
 
	
 
	
 

	
/s/ Ragu Raman

	
Ragu Raman

	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 

	
/s/ Richard Nelson

	
Richard Nelson

	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 

	
 
	
 
	
 

	
/s/ Robert Dunn

	
Robert Dunn

	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Robert Gamso

	
Robert Gamso

	
 
	
 
	
 

	
Address for Notices:

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

 

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

	
/s/ Robert J. Geen

	
 
	
 
	
Robert J. Geen

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Robert Morton

	
Robert Morton

	
 

	
Address for Notices:

	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Stefano Albanese

	
Stefano Albanese

	
 

	
Address for Notices:

	
 

	
[***]

	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Warren Stone

	
Warren Stone

	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
GST Exempt Separate Family Trust c/u the Martin D. Madaus 2012 Irrevocable Trusts

	
 
	
 
	
 

	
By:
	
 
	
/s/ Chip Martin

	
Name:
	
 
	
Chip Martin

	
Title:
	
 
	
Principal, Concord Trust Company, LLC; Trustee

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

	
VEF, LP

	
 
	
 
	
 

	
By:
	
 
	
/s/ VEF CFO

	
Name:
	
 
	
VEF CFO

	
Title:
	
 
	
Authorized Representative

	
 
	
 
	
 

	
 
	
 
	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 

	
 
	
 
	
 

	
/s/ Alberto Chiaravallotti

	
Alberto Chiaravallotti

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 
	
 
	
 

	
 

	
/s/ Andrew Rodden

	
Andrew Rodden

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Bradley McKnight

	
Bradley McKnight

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

 

	
/s/ Carol Hill

	
Carol Hill

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Charles F. Wagner, Jr.

	
Charles F. Wagner, Jr.

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 

	
/s/ Christina Kim

	
Christina Kim

	
 

	
Address for Notices:

	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 

	
/s/ Hubert Guyot

	
Hubert Guyot

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Ian Wells

	
Ian Wells

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

 

	
/s/ James Haney

	
James Haney

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ John Nester

	
John Nester

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 

	
/s/ Marta Carnielli

	
Marta Carnielli

	
 

	
Address for Notices:

	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 

	
/s/ Mazher Ahmad

	
Mazher Ahmad

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Nancy Panetta

	
Nancy Panetta

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

 

	
/s/ Peter Origenes

	
Peter Origenes

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Robert Streber

	
Robert Streber

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 

	
/s/ Sheryl Anderson

	
Sheryl Anderson

	
 

	
Address for Notices:

	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 

	
/s/ Tanuja Yalamanchili

	
Tanuja Yalamanchili

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Thomas Philippi

	
Thomas Philippi

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

 

	
/s/ Timothy Orr

	
Timothy Orr

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Tommaso Bottalico

	
Tommaso Bottalico

	
 

	
Address for Notices:

	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Trevor Adams

	
Trevor Adams

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ William Austin

	
William Austin

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ William Seton

	
William Seton

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

 

	
/s/ Zachary Ballard

	
Zachary Ballard

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Lofti Bouaouiche

	
Lofti Bouaouiche

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
SQUAM LAKE INVESTORS X, L.P.

	
 

	
By: 
	
 
	
/s/ Bill Doherty

	
Name:
	
 
	
Bill Doherty

	
Title:
	
 
	
Vice President of BGPI, Inc. its general partner

	
 
	
 
	
 

	
Address for Notices:

	
 

	
[***]

	
 
	
 
	
 

	
BAIN & COMPANY, INC.

	
 
	
 
	
 

	
By: 
	
 
	
/s/ John J. Wright

	
Name:
	
 
	
John J. Wright

	
Title:
	
 
	
Senior Director, Global Accounting

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

 

 

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

 

	
/s/ David Manning

	
David Manning

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
/s/ Jennifer Paine

	
Jennifer Paine

	
 
	
 
	
 

	
Address for Notices:

	
 
	
 
	
 

	
[***]

	
 
	
 
	
 

	
 
	
 
	
 

	
 

	
Management Shareholders Listed on Annex A:

	
 
	
 
	
 

	
By Carlyle Partners VI Cayman Holdings, L.P., In Its Capacity as the Carlyle Stockholder Acting Pursuant To the Power of Attorney Granted to The Carlyle Stockholder Pursuant to Section 9(m) of the Original Agreement

	
 
	
 
	
 

	
By:
	
 
	
TC Group VI Cayman, L.P.

	
Its:
	
 
	
General Partner

	
 

	
By:
	
 
	
TC Group VI Cayman, L.L.C.

	
Its:
	
 
	
General Partner

	
 
	
 
	
 

	
 
	
 
	
 

	
By:  
	
 
	
/s/ Jeremy W. Anderson

	
 
	
 
	
 

	
Name:  
	
 
	
Jeremy W. Anderson

	
 
	
 
	
 

	
Title:
	
 
	
Authorized Person

 

The notice address for each of the Shareholders listed on Annex A shall be the address of such Shareholder on the books and records of the Company

[Signature Page to Shareholders Agreement]

US-DOCS\120040973.11

 

EXHIBIT A

SIGNATURE PAGE
TO
SHAREHOLDERS AGREEMENT

By execution of this signature page, [_______________] hereby agrees to become a Party to, and to be bound by the obligations of, and receive the benefits of, that certain Shareholders Agreement, dated as of January 25, 2021, by and among Ortho Clinical Diagnostics Holdings plc, a public limited company incorporation in England and Wales, Carlyle Partners VI Cayman Holdings, L.P., a Cayman Islands exempted limited partnership, and certain other Parties named therein, as amended from time to time thereafter, in each case as a “Management Shareholder”.

 

	
By:
	
 
	
 

	
Name:
	
 
	
 

	
Title:
	
 
	
 

	
 
	
 
	
 

	
 
	
 
	
 

	
Notice Address:

	
 

	
 

	
 

	
 

 

 

	
Accepted:

	
 
	
 
	
 

	
ORTHO CLINICAL DIAGNOSTICS holdings plc

	
 
	
 
	
 

	
 
	
 
	
 

	
By:
	
 
	
 

	
Name:
	
 
	
 

	
Title:
	
 
	
 

	
 
	
 
	
 

 

 

 

 

US-DOCS\120040973.11

 

EXHIBIT B

 

SPOUSAL CONSENT

 

In consideration of the execution of that certain Shareholders Agreement (as it may be amended from time to time in accordance with its terms, the “Shareholders Agreement”; capitalized terms used but not defined herein shall be given the meaning ascribed to them in the Shareholders Agreement), dated as of January 25, 2021, by and among Ortho Clinical Diagnostics Holdings plc, a public limited company incorporation in England and Wales, Carlyle Partners VI Cayman Holdings, L.P., a Cayman Islands exempted limited partnership, certain Management Shareholders, and any other Persons who become parties to the Shareholders Agreement pursuant to a Joinder Agreement, I, ______________________, the spouse of ____________________, who is a party to the Shareholders Agreement, do hereby join with my spouse in executing the foregoing Shareholders Agreement and do hereby agree to be bound by all of the terms and provisions thereof.

 

Dated as of _______ __, 20__

Name of Spouse: 

 

 

 

US-DOCS\120040973.11

 

Schedule I

 

Shareholders

 

		
	
Name 
	
Shares

	
Carlyle Partners VI Cayman Holdings, L.P.
	
[***]

	
Squam Lake Investors X, L.P.
	
[***]

	
Bain & Company, Inc.
	
[***]

	
VEF, LP
	
[***]

	
Ronald Labrum
	
[***]

	
Thomas P. Mac Mahon
	
[***]

	
José E. Almeida
	
[***]

	
GST Exempt Separate Family Trust c/u the Martin D. Madaus 2012 Irrevocable Trusts
	
[***]

	
Michael Schlesinger
	
[***]

	
Carol Hill
	
[***]

	
Hull Living Trust
	
[***]

	
Robert J. Geen
	
[***]

	
John Eckhardt
	
[***]

	
Brian Buon
	
[***]

	
Peter Origenes
	
[***]

	
Yugi Yueno
	
[***]

	
Bradley McKnight
	
[***]

	
Tommaso Bottalico
	
[***]

	
Akihiro Kadokura
	
[***]

	
Kevin Doran
	
[***]

	
Zhong Ding
	
[***]

	
Carl Hull
	
[***]

	
Robert Streber
	
[***]

	
Frederic Vanderhaegen
	
[***]

	
Alberto Chiaravallotti
	
[***]

	
Marie Foglia
	
[***]

	
John Nester
	
[***]

	
Nancy Panetta
	
[***]

	
Timothy Orr
	
[***]

	
Charles F. Wagner, Jr.
	
[***]

	
William Seton
	
[***]

	
Kristie Bouryal
	
[***]

	
Beatriz Lopez-Galvis
	
[***]

	
Thomas Callihan
	
[***]

	
Trevor Adams
	
[***]

	
Lifang Chen
	
[***]

	
Tanuja Yalamanchili
	
[***]

	
Bryan Lisa
	
[***]

	
Jennifer Paine
	
[***]

 

US-DOCS\120040973.11

 

		
	
Name 
	
Shares

	
Kurt Ambs
	
[***]

	
Mazher Ahmad
	
[***]

	
Jay Snyder
	
[***]

	
Ian Wells
	
[***]

	
Tony Casina
	
[***]

	
Christopher Ellison
	
[***]

	
Andrew Rodden
	
[***]

	
Daniel Sattler
	
[***]

	
Alexander Antonio Socarras Revocable Trust
	
[***]

	
Anouk De Rudder
	
[***]

	
Patricia Cathcart
	
[***]

	
Lotfi Bouaouiche
	
[***]

	
Stephano Albanese
	
[***]

	
Marta Carnielli
	
[***]

	
Christopher M. Smith
	
[***]

	
James M. Pochodylo
	
[***]

	
Karen Warren
	
[***]

	
Daniel Carlson
	
[***]

	
Nicholas Gould
	
[***]

	
Richard Nelson
	
[***]

	
David Kurlander
	
[***]

	
David Manning
	
[***]

	
Mark Loeser
	
[***]

	
William Austin
	
[***]

	
Hubert Guyot
	
[***]

	
Robert Morton
	
[***]

	
Sheryl Anderson
	
[***]

	
Thomas Philippi
	
[***]

	
Susan M Welsh
	
[***]

	
David Perez
	
[***]

	
Christina Kim
	
[***]

	
Pamela Taylor
	
[***]

	
Zachary Ballard
	
[***]

	
Phillip Nuccio
	
[***]

	
John Sanders
	
[***]

	
James Haney
	
[***]

	
Ragu Raman
	
[***]

	
Warren Stone
	
[***]

	
Robert Dunn
	
[***]

	
Alexander Tosi
	
[***]

	
Robert Gamso
	
[***]

 

US-DOCS\120040973.11

 

Annex A

 

Yugi Yueno

 

US-DOCS\120040973.11Exhibit 4.3

    
      

      

    

    
      	
               
                BORR DRILLING LIMITED

                 

                

                
                  
 

                 

                

                INDENTURE

                

                

                Dated as of

                

                

                [          ]

                

                

                
                  
 

                 

                

                DEBT SECURITIES

                

                

                [          ]

                

                

                as Trustee

                

                

              

            

    

    

    

    

    Reconciliation and tie between

    Trust Indenture Act of 1939 and Indenture*

    

    

    	
            Trust Indenture Act Section

          	
            Indenture Section

          
	 	 	 
	
            § 310

          	
            (a)

          	
            11.04(a), 16.02

          
	 	
            (b)

          	
            11.01(f), 11.04(b), 11.05(1), 16.02

          
	 	
            (b)(1)

          	
            11.04(b), 16.02

          
	
            § 311

          	 	
            11.01(f), 16.02

          
	
            § 312

          	 	
            14.02(d), 16.02

          
	 	
            (b )

          	
            11.10, 16.02

          
	 	
            (c)

          	
            11.10, 16.02

          
	
            § 313

          	
            (a)

          	
            10.01(a), 16.02

          
	
            § 314

          	 	
            16.02

          
	
            § 315

          	
            (e)

          	
            11.05, 16.02

          
	
            § 316

          	 	
            16.02

          
	
            § 317

          	 	
            16.02

          
	
            § 318

          	 	
            16.02

          

    

    

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

    
      
        

    

    
     

    

    TABLE OF CONTENTS*

    

    

    	 	
            PAGE

          
	 	 
	
            ARTICLE I

          
	 	 
	
            DEFINITIONS

          
	 	 
	
            Section 1.01   Definitions.

          	
            6

          
	 	 
	
            ARTICLE II

          
	 	 
	
            FORMS OF SECURITIES

          
	 	 
	
            Section 2.01   Terms of the Securities

          	
            14

          
	
            Section 2.02   Form of Trustee’s Certificate of Authentication

          	
            15

          
	
            Section 2.03   Form of Trustee’s Certificate of Authentication by an Authenticating Agent

          	
            15

          
	 	 
	
            ARTICLE III

          
	 	 
	
            THE DEBT SECURITIES

          
	 	 
	
            Section 3.01   Amount Unlimited; Issuable in Series

          	
            15

          
	
            Section 3.02   Denominations

          	
            18

          
	
            Section 3.03   Execution, Authentication, Delivery and Dating

          	
            18

          
	
            Section 3.04   Temporary Securities

          	
            20

            

          
	
            Section 3.05   Registrar

          	
            20

            

          
	
            Section 3.06   Transfer and Exchange

          	
            21

          
	
            Section 3.07   Mutilated, Destroyed, Lost and Stolen Securities

          	
            23

          
	
            Section 3.08   Payment of Interest: Interest Rights Preserved

          	
            24

          
	
            Section 3.09   Cancellation

          	
            25

          
	
            Section 3.10   Computation of Interest

          	
            25

          
	
            Section 3.11   Currency of Payments in Respect of Securities

          	
            25

          
	
            Section 3.12   Judgments

          	
            25

          
	
            Section 3.13   CUSIP Numbers

          	
            26

            

          
	 	 
	
            ARTICLE IV

          
	 	 
	
            REDEMPTION OF SECURITIES

          
	 	 
	
            Section 4.01   Applicability of Right of Redemption

          	
            26

          
	
            Section 4.02   Selection of Securities to be Redeemed

          	
            26

          
	
            Section 4.03   Notice of Redemption

          	
            26

          
	
            Section 4.04   Deposit of Redemption Price

          	
            27

          
	
            Section 4.05   Securities Payable on Redemption Date

          	
            27

          
	
            Section 4.06   Securities Redeemed in Part

          	
            27

          
	 	 
	
            ARTICLE V

          
	 	 
	
            SINKING FUNDS

          
	 	 
	
            Section 5.01   Applicability of Sinking Fund

          	
            28

            

          
	
            Section 5.02   Mandatory Sinking Fund Obligation

          	
            28

            

          
	
            Section 5.03   Optional Redemption at Sinking Fund Redemption Price

          	
            28

            

          
	
            Section 5.04   Application of Sinking Fund Payment

          	
            29

            

          

     

    

    * The Table of Contents is not a part of the Indenture. 

    
      2

      
        

    

    

    

    	
            ARTICLE VI

          
	 	 
	
            PARTICULAR COVENANTS OF THE COMPANY

          
	 	 
	
            Section 6.01   Payments of Securities

          	
            29

            

          
	
            Section 6.02   Paying Agent

          	
            29

            

          
	
            Section 6.03   To Hold Payment in Trust

          	
            30

            

          
	
            Section 6.04   Merger, Consolidation and Sale of Assets

          	
            31

          
	
            Section 6.05   Compliance Certificate

          	
            31

          
	
            Section 6.06   Conditional Waiver by Holders of Securities

          	
            31

          
	
            Section 6.07   Statement by Officers as to Default

          	
            32

          
	
            Section 6.08   Corporate Existence.

          	
            32

          
	 	 
	
            ARTICLE VII

          
	 	 
	
            REMEDIES OF TRUSTEE AND SECURITYHOLDERS

          
	 	 
	
            Section 7.01   Events of Default

          	
            32

          
	
            Section 7.02   Acceleration; Rescission and Annulment

          	
            33

          
	
            Section 7.03   Other Remedies

          	
            34

          
	
            Section 7.04   Trustee as Attorney-in-Fact

          	
            35

          
	
            Section 7.05   Priorities

          	
            35

            

          
	
            Section 7.06   Control by Securityholders; Waiver of Past Defaults

          	
            36

            

          
	
            Section 7.07   Limitation on Suits

          	
            36

            

          
	
            Section 7.08   Undertaking for Costs

          	
            36

            

          
	
            Section 7.09   Remedies Cumulative

          	
            37

            

          
	 	 
	
            ARTICLE VIII

          
	 	 
	
            CONCERNING THE SECURITYHOLDERS

          
	 	 
	
            Section 8.01   Evidence of Action of Securityholders

          	
            37

            

          
	
            Section 8.02   Proof of Execution or Holding of Securities

          	
            37

            

          
	
            Section 8.03   Persons Deemed Owners

          	
            38

            

          
	
            Section 8.04   Effect of Consents

          	
            38

            

          
	 	 
	
            ARTICLE IX

          
	 	 
	
            SECURITYHOLDERS’ MEETINGS

          
	 	 
	
            Section 9.01   Purposes of Meetings

          	
            38

            

          
	
            Section 9.02   Call of Meetings by Trustee

          	
            38

            

          
	
            Section 9.03   Call of Meetings by Company or Securityholders

          	
            39

            

          
	
            Section 9.04   Qualifications for Voting

          	
            39

            

          
	
            Section 9.05   Regulation of Meetings

          	
            39

            

          
	
            Section 9.06   Voting

          	
            40

          
	
            Section 9.07   No Delay of Rights by Meeting

          	
            40

          
	 	 
	
            ARTICLE X

          
	 	 
	
            REPORTS BY THE COMPANY AND THE TRUSTEE AND SECURITYHOLDERS’ LISTS

          
	 	 
	
            Section 10.01   Reports by Trustee

          	
            40

          
	
            Section 10.02   Reports by the Company

          	
            40

          
	
            Section 10.03   Securityholders’ Lists

          	
            41

          

     

    

    
      3

      
        

    

    

    

    	
            ARTICLE XI

          
	 
	
            CONCERNING THE TRUSTEE

          	 
	 	 
	
            Section 11.01   Rights of Trustees; Compensation and Indemnity

          	
            41

          
	
            Section 11.02   Duties of Trustee

          	
            44

            

          
	
            Section 11.03   Notice of Defaults

          	
            44

            

          
	
            Section 11.04   Eligibility; Disqualification

          	
            45

            

          
	
            Section 11.05   Resignation and Notice; Removal

          	
            45

            

          
	
            Section 11.06   Successor Trustee by Appointment

          	
            46

            

          
	
            Section 11.07   Successor Trustee by Merger

          	
            47

            

          
	
            Section 11.08   Right to Rely on Officer’s Certificate

          	 47

          
	
            Section 11.09   Appointment of Authenticating Agent

          	
            47

            

          
	
            Section 11.10   Communications by Securityholders with Other Securityholders

          	
            48

            

          
	 	 
	
            ARTICLE XII

          	 
	 	 
	
            SATISFACTION AND DISCHARGE; DEFEASANCE

          	 
	 	 
	
            Section 12.01   Applicability of Article

          	
            48

            

          
	
            Section 12.02   Satisfaction and Discharge of Indenture

          	
            48

            

          
	
            Section 12.03   Defeasance and Covenant Defeasance upon Deposit of Moneys or U.S. Government Obligations

          	
            49

            

          
	
            Section 12.04   Repayment to Company

          	
            50

          
	
            Section 12.05   Indemnity for U.S. Government Obligations

          	
            60

          
	
            Section 12.06   Deposits to Be Held in Escrow

          	 50

          
	
            Section 12.07   Application of Trust Money

          	
            51

            

          
	
            Section 12.08   Deposits of Non-U.S. Currencies

          	
            51

            

          
	 	 
	
            ARTICLE XIII

          
	 	 
	
            IMMUNITY OF CERTAIN PERSONS

          
	 	 
	
            Section 13.01   No Personal Liability

          	
            51

            

          
	 	 
	
            ARTICLE XIV

          
	 	 
	
            SUPPLEMENTAL INDENTURES

          
	 	 
	
            Section 14.01   Without Consent of Securityholders

          	
            51

            

          
	
            Section 14.02   With Consent of Securityholders; Limitations

          	
            53

            

          
	
            Section 14.03   Trustee Protected

          	
            54

            

          
	
            Section 14.04   Effect of Execution of Supplemental Indenture

          	
            54

            

          
	
            Section 14.05   Notation on or Exchange of Securities

          	
            54

            

          
	
            Section 14.06   Conformity with TIA

          	
            54

            

          

    
      4

      
        

    

    

    

    	
            ARTICLE XV

          
	 	 
	
            SUBORDINATION OF SECURITIES

          
	 	 
	
            Section 15.01   Agreement to Subordinate

          	
            55

            

          
	
            Section 15.02   Distribution on Dissolution, Liquidation and Reorganization; Subrogation of Securities

          	
            55

            

          
	
            Section 15.03   No Payment on Securities in Event of Default on Senior Indebtedness

          	
            56

            

          
	
            Section 15.04   Payments on Securities Permitted

          	
            56

            

          
	
            Section 15.05   Authorization of Securityholders to Trustee to Effect Subordination

          	
            56

            

          
	
            Section 15.06   Notices to Trustee

          	
            56

            

          
	
            Section 15.07   Trustee as Holder of Senior Indebtedness

          	
            57

            

          
	
            Section 15.08   Modifications of Terms of Senior Indebtedness

          	
            57

            

          
	
            Section 15.09   Reliance on Judicial Order or Certificate of Liquidating Agent

          	
            57

            

          
	
            Section 15.10   Satisfaction and Discharge; Defeasance and Covenant Defeasance

          	
            57

            

          
	
            Section 15.11   Trustee Not Fiduciary for Holders of Senior Indebtedness

          	
            57

            

          
	 	 
	
            ARTICLE XVI

          
	 	 
	
            MISCELLANEOUS PROVISIONS

          
	 	 
	
            Section 16.01   Certificates and Opinions as to Conditions Precedent

          	
            58

            

          
	
            Section 16.02   Trust Indenture Act Controls

          	
            58

            

          
	
            Section 16.03   Notices to the Company and Trustee

          	
            59

            

          
	
            Section 16.04   Notices to Securityholders; Waiver

          	
            59

            

          
	
            Section 16.05   Legal Holiday

          	 59

          
	
            Section 16.06   Effects of Headings and Table of Contents

          	
            59

            

          
	
            Section 16.07   Successors and Assigns

          	
            59

            

          
	
            Section 16.08   Separability Clause

          	
            59

            

          
	
            Section 16.09   Benefits of Indenture

          	
            60

            

          
	
            Section 16.10   Counterparts Originals

          	
            60

            

          
	
            Section 16.11   Governing Law; Waiver of Trial by Jury

          	
            60

            

          
	
            Section 16.12   Agent for Service; Submission to Jurisdiction; Waiver of Immunities

          	
            60

            

          
	
            Section 16.13   U.S.A. Patriot Act

          	
            60

            

          
	
            Section 16.14   FATCA

          	
            61

            

          
	
            Section 16.15   Electronic Means

          	
            61

            

          

    
      5

      
        

    

    

    

    INDENTURE dated as of                ,20                    , among  Borr Drilling Limited, a public limited company organized under the laws of Bermuda (the “Company”), and [          ], as trustee (the “Trustee”).

    

    

    WITNESSETH:

    

    

    WHEREAS, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of debentures, notes, bonds or other evidences of indebtedness (the “Securities”) in an unlimited
      aggregate principal amount to be issued from time to time in one or more series as provided in this Indenture; and

    

    

    WHEREAS, all things necessary to make this Indenture a valid and legally binding agreement of the Company, in accordance with its terms, have been done.

    

    

    NOW, THEREFORE, THIS INDENTURE WITNESSETH:

    

    

    That, in consideration of the premises and the purchase of the Securities by the Holders thereof for the equal and proportionate benefit of all of the present and future Holders of the Securities, each party agrees and
      covenants as follows:

    

    

    ARTICLE I

    

    

    DEFINITIONS

    

    

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

    

    

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

    

    

    (b)       unless otherwise defined in this Indenture or the context otherwise requires, all terms used herein without definition which are defined in the Trust Indenture Act, either directly or by reference therein, have
      the meanings assigned to them therein;

    

    

    (c)       all accounting terms used herein and not expressly defined shall have the meanings assigned to such terms in accordance with GAAP;

    

    

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

    

    

    (e)       ”or” is not exclusive; and

    

    

    (f)       references to “Article” or “Section” or other subdivision herein are references to an Article, Section or other subdivision of this Indenture, unless the context otherwise requires.

    

    

     

    

    

    

    Section 1.01        Definitions.

    

    

    Unless the context otherwise requires, the terms defined in this Section 1.01 shall for all purposes of this Indenture have the meanings hereinafter set forth:

    

    

    Affiliate:

    

    

    The term “Affiliate,” with respect to any specified Person shall mean 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.

    
      6

      
        

    

    

    

    Agent:

    

    

    The term “Agent” shall mean any Authenticating Agent, Paying Agent, Registrar, or transfer agent.

    

    

    Authenticating Agent:

    

    

    The term “Authenticating Agent” shall have the meaning assigned to it in Section 11.09.

    

    

    Board of Directors:

    

    

    The term “Board of Directors” shall mean either the board of directors of the Company or the executive or any other committee of that board duly authorized to act in respect hereof.

    

    

    Board Resolution:

    

    

    The term “Board Resolution” shall mean a copy of a resolution or resolutions certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors (or by a committee of
      the Board of Directors to the extent that any such other committee has been authorized by the Board of Directors to establish or approve the matters contemplated) and to be in full force and effect on the date of such certification and delivered to
      the Trustee.

    

    

    Business Day:

    

    

    The term “Business Day,” when used with respect to any Place of Payment or any other particular location referred to in this Indenture or in the Securities, shall mean each Monday, Tuesday, Wednesday, Thursday and Friday
      which is not a day on which the Corporate Trust Office or banking institutions in that Place of Payment or such location, Jersey, Channel Islands, or the United Kingdom are authorized or obligated by law or executive order to close, unless otherwise
      specified with respect to any series of Securities established pursuant to Section 3.01.

    

    

    Capital Stock:

    

    

    The term “Capital Stock” shall mean:

    

    

    (a)          in the case of a corporation, corporate stock;

    

    

    (b)          in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock;

    

    

    (c)          in the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership interests; and

    

    

    (d)          any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of the
      foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock.

    

    

    Code:

    

    

    The term “Code” shall mean the Internal Revenue Code of 1986, as amended.

    

    

    Company:

    

    

    The term “Company” shall mean the Person named as the “Company” in the first paragraph of this Indenture until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and
      thereafter “Company” shall mean such successor Person.

    
      7

      
        

    

    

    

    Company Order:

    

    

    The term “Company Order” shall mean a written order signed in the name of the Company by any Officer and delivered to the Trustee.

    

    

    Corporate Trust Office:

    

    

    The term “Corporate Trust Office,” or other similar term, shall mean the principal office of the Trustee at which at any particular time its corporate trust business shall be administered, which office at the date hereof
      is located at [          ], or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust officer of any successor Trustee (or such other address as such successor
      Trustee may designate from time to time by notice to the Holders and the Company).

    

    

    Currency:

    

    

    The term “Currency” shall mean U.S. Dollars or Foreign Currency.

    

    

    Default:

    

    

    The term “Default” shall have the meaning assigned to it in Section 11.03.

    

    

    Defaulted Interest:

    

    

    The term “Defaulted Interest” shall have the same meaning assigned to it in Section 3.08(b).

    

    

    Depositary:

    

    

    The term “Depositary” shall mean, with respect to the Securities of any series issuable in whole or in part in the form of one or more Global Securities, each Person designated as Depositary by the Company pursuant to
      Section 3.01 until one or more successor Depositaries 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.

    

    

    Designated Currency:

    

    

    The term “Designated Currency” shall have the same meaning assigned to it in Section 3.12.

    

    

    Discharged:

    

    

    The term “Discharged” shall have the meaning assigned to it in Section 12.03.

    

    

    DTC:

    

    

    The term “DTC” shall mean The Depository Trust Company, Inc. and its successors.

    

    

    Electronic Means:

    

    

    The term “Electronic Means” shall mean the following communications methods: e-mail, facsimile transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys
      issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its services hereunder.

    
      8

      
        

    

    

    

    Event of Default:

    

    

    The term “Event of Default” shall have the meaning specified in Section 7.01.

    

    

    Exchange Act:

    

    

    The term “Exchange Act” shall mean the United States Securities Exchange Act of 1934, and the rules and regulations promulgated by the SEC thereunder and any statute successor thereto, in each case as amended from time
      to time.

    

    

    Exchange Rate:

    

    

    The term “Exchange Rate” shall have the meaning assigned to it in Section 7.01.

    

    

    Floating Rate Security:

    

    

    The term “Floating Rate Security” shall mean a Security that provides for the payment of interest at a variable rate determined periodically by reference to an interest rate index specified pursuant to Section 3.01.

    

    

    Foreign Currency:

    

    

    The term “Foreign Currency” shall mean a currency issued by the government of any country other than the United States or a composite currency, the value of which is determined by reference to the values of the
      currencies of any group of countries.

    

    

    GAAP:

    

    

    The term “GAAP,” with respect to any computations required or permitted hereunder, shall mean generally accepted accounting principles in effect in the United States as in effect from time to time; provided, however if
      the Company is required by the SEC to adopt (or is permitted to adopt and so adopts) a different accounting framework, including but not limited to the International Financial Reporting Standards, “GAAP” shall mean such new accounting framework as in
      effect from time to time, including, without limitation, in each case, those accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and
      statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as approved by a significant segment of the accounting profession.

    

    

    Global Security:

    

    

    The term “Global Security” shall mean any Security that evidences all or part of a series of Securities, issued in fully-registered certificated form to the Depositary for such series in accordance with Section 3.03 and
      bearing the legend prescribed in Section 3.03(g).

    

    

    Holder; Holder of Securities:

    

    

    The terms “Holder” and “Holder of Securities” are defined under “Securityholder; Holder of Securities; Holder.”

    

    

    Indebtedness:

    

    

    The term “Indebtedness” shall mean any and all obligations of a Person for money borrowed which, in accordance with GAAP, would be reflected on the balance sheet of such Person as a liability on the date as of which
      Indebtedness is to be determined.

    
      9

      
        

    

    

    

    Indenture:

    

    

    The term “Indenture” or “this Indenture” shall mean this instrument as originally executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to
      the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such supplemental
      indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by Section 3.01; provided, however, that if at any time more than one Person is acting as Trustee under this
      Indenture due to the appointment of one or more separate Trustees for any one or more separate series of Securities, “Indenture” shall mean, with respect to such series of Securities for which any such Person is Trustee, this instrument as originally
      executed or as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of particular series of Securities for which such
      Person is Trustee established as contemplated by Section 3.01, exclusive, however, of any provisions or terms which relate solely to other series of Securities for which such Person is not Trustee, regardless of when such terms or provisions were
      adopted, and exclusive of any provisions or terms adopted by means of one or more indentures supplemental hereto executed and delivered after such person had become such Trustee, but to which such person, as such Trustee, was not a party; provided,
      further that in the event that this Indenture is supplemented or amended by one or more indentures supplemental hereto which are only applicable to certain series of Securities, the term “Indenture” for a particular series of Securities shall only
      include the supplemental indentures applicable thereto.

    

    

    Individual Securities:

    

    

    The term “Individual Securities” shall have the meaning specified in Section 3.01(p).

    

    

    Interest:

    

    

    The term “interest” shall mean, unless the context otherwise requires, interest payable on any Securities, and with respect to an Original Issue Discount Security that by its terms bears interest only after Maturity,
      interest payable after Maturity.

    

    

    Interest Payment Date:

    

    

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

    

    

    Mandatory Sinking Fund Payment:

    

    

    The term “Mandatory Sinking Fund Payment” shall have the meaning assigned to it in Section 5.01(b).

    

    

    Maturity:

    

    

    The term “Maturity,” with respect to any Security, shall mean the date on which the principal of such Security shall become due and payable as therein and herein provided, whether by declaration, call for redemption or
      otherwise.

    

    

    Members:

    

    

    The term “Members” shall have the meaning assigned to it in Section 3.03(h).

    

    

    Officer:

    

    

    The term “Officer” shall mean any of the Chairman of the Board of Directors, Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer, President or a Vice President, Treasurer or Assistant Treasurer,
      Controller, Secretary or Assistant Secretary of the Company, or any other officer of the Company designated in writing by a Board Resolution.

    
      10

      
        

    

    

    

    Officer’s Certificate:

    

    

    The term “Officer’s Certificate” shall mean a certificate signed by any Officer and delivered to the Trustee. Each such certificate shall include the statements provided for in Section 16.01 if and to the extent required
      by the provisions of such Section.

    

    

    Opinion of Counsel:

    

    

    The term “Opinion of Counsel” shall mean an opinion in writing signed by one or more legal counsel, who may be an employee of or of counsel to the Company, or who may be other counsel reasonably satisfactory to the
      Trustee, and meets the requirements provided for in Section 16.01, if and to the extent required hereby.

    

    

    Optional Sinking Fund Payment:

    

    

    The term “Optional Sinking Fund Payment” shall have the meaning assigned to it in Section 5.01(b).

    

    

    Original Issue Discount Security:

    

    

    The term “Original Issue Discount Security” shall mean any Security that is issued with “original issue discount” within the meaning of Section 1273(a) of the Code and the regulations thereunder, or any successor
      provision, and any other Security designated by the Company as issued with original issue discount for United States federal income tax purposes.

    

    

    Outstanding:

    

    

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

    

    

    (a)         Securities theretofore canceled by the Trustee or delivered to the Trustee for cancellation;

    

    

    (b)          Securities or portions thereof for which payment or redemption money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside
      and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such Securities or Securities as to which the Company’s obligations have been Discharged; 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 the Trustee has been made; and

    

    

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

    

    

    provided, however, that in determining whether the Holders of the requisite principal amount of Securities of a series Outstanding have performed any action hereunder, Securities owned by the Company or any
      other obligor upon the Securities of such series or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding. Securities so owned that have been pledged in good faith may be regarded as Outstanding
      if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon such Securities or any Affiliate of the Company or of such
      other obligor. In determining whether the Holders of the requisite principal amount of Outstanding Securities of a series have performed any action hereunder, the principal amount of an Original Issue Discount Security that shall be deemed to be
      Outstanding for such purpose shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 7.02 and the principal amount
      of a Security denominated in a Foreign Currency that shall be deemed to be Outstanding for such purpose shall be the amount calculated pursuant to Section 3.11(b).

    
      11

      
        

    

    

    

    Paying Agent:

    

    

    The term “Paying Agent” shall have the meaning assigned to it in Section 6.02(a).

    

    

    Person:

    

    

    The term “Person” shall mean any individual, a corporation, a limited liability company, a partnership, an association, a joint stock company, a trust, an unincorporated organization or a government or an agency or
      political subdivision thereof or other entity.

    

    

    Place of Payment:

    

    

    The term “Place of Payment” shall mean, when used with respect to the Securities of any series, the place or places where the principal of and premium, if any, and interest on the Securities of that series are payable as
      specified pursuant to Section 3.01.

    

    

    Predecessor Security:

    

    

    The term “Predecessor Security” shall mean, with respect to any Security, every previous Security evidencing all or a portion of the same Indebtedness as that evidenced by such particular Security, and, for the purposes
      of this definition, any Security authenticated and delivered under Section 3.07 in lieu of a lost, destroyed or stolen Security shall be deemed to evidence the same Indebtedness as the lost, destroyed or stolen Security.

    

    

    Record Date:

    

    

    The term “Record Date” shall mean, with respect to any interest payable on any Security on any Interest Payment Date, any date specified in such Security or pursuant to Section 3.01 with respect to such Security as the
      record date for the payment of interest.

    

    

    Redemption Date:

    

    

    The term “Redemption Date” shall mean, when used with respect to any Security to be redeemed, in whole or in part, the date fixed for such redemption by or pursuant to this Indenture and the terms of such Security,
      which, in the case of a Floating Rate Security, unless otherwise specified pursuant to Section 3.01, shall be an Interest Payment Date only.

    

    

    Redemption Price:

    

    

    The term “Redemption Price,” when used with respect to any Security to be redeemed, in whole or in part, shall mean the price at which it is to be redeemed pursuant to the terms of the applicable Security and this
      Indenture.

    

    

    Register:

    

    

    The term “Register” shall have the meaning assigned to it in Section 3.05(a).

    

    

    Registrar:

    

    

    The term “Registrar” shall have the meaning assigned to it in Section 3.05(a).

    

    

    Responsible Officers:

    

    

    The term “Responsible Officers” of the Trustee hereunder shall mean, with respect to the Trustee, any trust officer, assigned to the corporate trust department of the Trustee customarily performing functions similar to
      those performed by those persons having direct responsibility for the administration of this Indenture, and also means, with respect to a particular corporate trust matter, any other officer of the Trustee to whom such matter is referred because of
      such person’s knowledge of and familiarity with the particular subject.

    
      12

      
        

    

    

    

    SEC:

    

    

    The term “SEC” shall mean the United States Securities and Exchange Commission, as constituted from time to time.

    

    

    Security:

    

    

    The term “Security” or “Securities” shall have the meaning stated in the recitals and shall more particularly mean one or more of the Securities duly authenticated by the Trustee and delivered pursuant to the provisions
      of this Indenture.

    

    

    Securityholder; Holder of Securities; Holder:

    

    

    The term “Securityholder” or “Holder of Securities” or “Holder,” shall mean the Person in whose name Securities shall be registered in the Register kept for that purpose hereunder.

    

    

    Senior Indebtedness:

    

    

    The term “Senior Indebtedness” means the principal of (and premium, if any) and unpaid interest on (x) Indebtedness of the Company, whether outstanding on the date hereof or thereafter created, incurred, assumed or
      guaranteed, for money borrowed other than (a) any Indebtedness of the Company which when incurred, and without respect to any election under Section 1111(b) of the Federal Bankruptcy Code, was without recourse to the Company, (b) any Indebtedness of
      the Company to any of its Subsidiaries, (c) Indebtedness to any director or employee of the Company, (d) any liability for taxes and (e) any Indebtedness of the Company which is expressly subordinate in right of payment to any other Indebtedness of
      the Company, and (y) renewals, extensions, modifications and refundings of any such Indebtedness. For purposes of the foregoing and the definition of “Senior Indebtedness,” the phrase “subordinated in right of payment” means debt subordination only
      (by virtue of contract) and not lien subordination, and accordingly, (i) unsecured indebtedness shall not be deemed to be subordinated in right of payment to secured indebtedness merely by virtue of the fact that it is unsecured, and (ii) junior
      liens, second liens and other contractual arrangements that provide for priorities among Holders of the same or different issues of indebtedness with respect to any collateral or the proceeds of collateral shall not constitute subordination in right
      of payment. This definition may be modified or superseded by a supplemental indenture.

    

    

    Special Record Date:

    

    

    The term “Special Record Date” shall have the meaning assigned to it in Section 3.08(b)(i).

    

    

    Stated Maturity:

    

    

    The term “Stated Maturity” when used with respect to any Security or any installment of interest thereon, shall mean the date specified in such Security or pursuant to Section 3.01 with respect to such Security as the
      fixed date on which the principal (or any portion thereof) of or premium, if any, on such Security or such installment of interest is due and payable.

    

    

    Subsidiary:

    

    

    The term “Subsidiary,” when used with respect to any Person, shall mean with respect to any Person, a corporation, partnership association, joint venture, trust, limited liability company or other business entity which
      is required to be consolidated with such Person in accordance with GAAP.

    

    

    Successor Company:

    

    

    The term “Successor Company” shall have the meaning assigned to it in Section 3.06(h).

    
      13

      
        

    

    

    

    Trade Payables:

    

    

    The term “Trade Payables” means accounts payable or any other Indebtedness or monetary obligations to trade creditors created or assumed by the Company or any Subsidiary of the Company in the ordinary course of business
      (including guarantees thereof or instruments evidencing such liabilities).

    

    

    Trust Indenture Act; TIA:

    

    

    The term “Trust Indenture Act” or “TIA” shall mean the Trust Indenture Act of 1939, as amended, and the rules and regulations thereunder as in effect on the date of this Indenture, except to the extent any amendment to
      the Trust Indenture Act expressly provides for application of the Trust Indenture Act as in effect on another date.

    

    

    Trustee:

    

    

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

    

    

    U.S. Dollars:

    

    

    The term “U.S. Dollars” shall mean such currency of the United States as at the time of payment shall be legal tender for the payment of public and private debts.

    

    

    U.S. Government Obligations:

    

    

    The term “U.S. Government Obligations” shall have the meaning assigned to it in Section 12.03.

    

    

    United States:

    

    

    The term “United States” shall mean the United States of America, its territories and possessions, any State of the United States and the District of Columbia.

    

    

    ARTICLE II

    

    

    FORMS OF SECURITIES

    

    

    Section 2.01        Terms of the Securities.

    

    

    (a)          The Securities of each series shall be substantially in the form of Exhibit A hereto, with terms as set forth in a Board Resolution, a Company Order or in one or more indentures supplemental hereto, and with
      such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification or designation and such legends or endorsements placed
      thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any
      securities exchange on which any series of the Securities may be listed or of any automated quotation system on which any such series may be quoted, or to conform to usage, all as determined by any of the officers executing such Securities as
      conclusively evidenced by their execution of such Securities.

    

    

    (b)          The terms and provisions of the Securities shall constitute, and are hereby expressly made, a part of this Indenture, and, to the extent applicable, the Company and the Trustee, by their execution and
      delivery of this Indenture expressly agree to such terms and provisions and to be bound thereby.

    
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    Section 2.02        Form of Trustee’s Certificate of Authentication.

    

    

    (a)          Only such of the Securities as shall bear thereon a certificate substantially in the form of the Trustee’s certificate of authentication hereinafter recited, executed by the Trustee by manual signature by
      one of its authorized officers, shall be valid or become obligatory for any purpose or entitle the Holder thereof to any right or benefit under this Indenture.

    

    

    (b)          Each Security shall be dated the date of its authentication, except that any Global Security shall be dated as of the date specified as contemplated in Section 3.01.

    

    

    (c)          The form of the Trustee’s certificate of authentication to be borne by the Securities shall be substantially as follows:

    

    

    TRUSTEE’S CERTIFICATE OF AUTHENTICATION

    

    

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

    

    

    	
            Date of authentication: ___________   

          	
            [               ], as Trustee

          
	 	 
	 	
            By:

          	 
	 	 	
            Authorized Signatory

          

    

    

    Section 2.03        Form of Trustee’s Certificate of Authentication by an Authenticating Agent. If at any time there shall be an Authenticating Agent appointed with respect to any series of Securities, then the
      Trustee’s Certificate of Authentication by such Authenticating Agent to be borne by Securities of each such series shall be substantially as follows:

    

    

    TRUSTEE’S CERTIFICATE OF AUTHENTICATION

    

    

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

    

    

    	
            Date of authentication: ___________

          	
            [                       ] , as Trustee

          
	 	 
	 	
            By:

          	
            [NAME OF AUTHENTICATING AGENT]

          
	 	 	
            as Authenticating Agent

          
	 	 
	 	
            By:

          	 
	 	 	
            Authorized Signatory

          

    

    

    ARTICLE III

    

    

    THE DEBT SECURITIES

    

    

    Section 3.01        Amount Unlimited; Issuable in Series. The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited. The Securities may be issued in
      one or more series. The title and terms on each series of Securities shall be as set forth in a Board Resolution, a Company Order or in one or more indentures supplemental hereto, prior to the issuance of Securities of any series:

    

    

    (a)          the title of the Securities of the series (which shall distinguish the Securities of such series from the Securities of all other series, except to the extent that additional Securities of an existing series
      are being issued);

    

    

    (b)          any limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon transfer of,
      or in exchange for, or in lieu of, other Securities of such series pursuant to Section 3.04, 3.06, 3.07, 4.06, or 14.05);

    
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    (c)          the dates on which or periods during which the Securities of the series may be issued, and the dates on, or the range of dates within, which the principal of and premium, if any, on the Securities of such
      series are or may be payable or the method by which such date or dates shall be determined or extended;

    

    

    (d)          the rate or rates at which the Securities of the series shall bear interest, if any, or the method by which such rate or rates shall be determined, whether such interest shall be payable in cash or
      additional Securities of the same series or shall accrue and increase the aggregate principal amount outstanding of such series (including if such Securities were originally issued at a discount), the date or dates from which such interest shall
      accrue, or the method by which such date or dates shall be determined, the Interest Payment Dates on which any such interest shall be payable, and the Record Dates for the determination of Holders to whom interest is payable on such Interest Payment
      Dates or the method by which such date or dates shall be determined, the right, if any, to extend or defer interest payments and the duration of such extension or deferral;

    

    

    (e)          if other than U.S. Dollars, the Foreign Currency in which Securities of the series shall be denominated or in which payment of the principal of, premium, if any, or interest on the Securities of the series
      shall be payable and any other terms concerning such payment;

    

    

    (f)           if the amount of payment of principal of, premium, if any, or interest on the Securities of the series may be determined with reference to an index, formula or other method including, but not limited to, an
      index based on a Currency or Currencies other than that in which the Securities are stated to be payable, the manner in which such amounts shall be determined;

    

    

    (g)          if the principal of, premium, if any, or interest on Securities of the series are to be payable, at the election of the Company or a Holder thereof, in a Currency other than that in which the Securities are
      denominated or stated to be payable without such election, the period or periods within which, and the terms and conditions upon which, such election may be made and the time and the manner of determining the exchange rate between the Currency in
      which the Securities are denominated or payable without such election and the Currency in which the Securities are to be paid if such election is made;

    

    

    (h)          the place or places, if any, in addition to or instead of the Corporate Trust Office of the Trustee where the principal of, premium, if any, and interest on Securities of the series shall be payable, and
      where Securities of any series may be presented for registration of transfer, exchange or conversion, and the place or places where notices and demands to or upon the Company in respect of the Securities of such series may be made;

    

    

    (i)            the price or prices at which, the period or periods within which or the date or dates on which, and the terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the
      option of the Company, if the Company is to have that option;

    

    

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

    

    

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

    

    

    (l)            if other than the principal amount thereof, the portion of the principal amount of the Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to
      Section 7.02;

    

    

    (m)        the guarantors, if any, of the Securities of the series, and the extent of the guarantees (including provisions relating to seniority, subordination, and the release of the guarantors), if any, and any
      additions or changes to permit or facilitate guarantees of such Securities;

    
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    (n)          whether the Securities of the series are to be issued as Original Issue Discount Securities and the amount of discount with which such Securities may be issued;

    

    

    (o)          if the provisions of Article XII hereof shall not be applicable with respect to the Securities of such series; or any addition to or change in the provisions of Article XII and, if the Securities of any
      series are payable in a Currency other than U.S. Dollars, the Currency or the nature of the government obligations to be deposited with the Trustee pursuant to Section 12.08;

    

    

    (p)          whether the Securities of the series are to be issued in whole or in part in the form of one or more Global Securities and, in such case, the Depositary for such Global Security or Global Securities, and the
      terms and conditions, if any, upon which interests in such Global Security or Global Securities may be exchanged in whole or in part for the individual securities represented thereby in definitive form registered in the name or names of Persons other
      than such Depositary or a nominee or nominees thereof (“Individual Securities”);

    

    

    (q)          the date as of which any Global Security of the series shall be dated if other than the original issuance of the first Security of the series to be issued;

    

    

    (r)           the form or forms of the Securities of the series including such legends as may be required by applicable law;

    

    

    (s)           if the Securities of the series are to be convertible into or exchangeable for any securities or property of any Person (including the Company), the terms and conditions upon which such Securities will be
      so convertible or exchangeable, and any additions or changes, if any, to permit or facilitate such conversion or exchange;

    

    

    (t)            whether the Securities of such series are subject to subordination and the terms of such subordination (for avoidance of doubt, Article XV shall not apply to the Securities of any series unless the terms
      of such series expressly state it applies);

    

    

    (u)          whether the Securities of such series are to be secured and the terms of such security;

    

    

    (v)          any restriction or condition on the transferability of the Securities of such series;

    

    

    (w)        any addition or change in the provisions related to compensation and reimbursement of the Trustee which applies to Securities of such series;

    

    

    (x)          any addition or change in the provisions related to supplemental indentures set forth in Sections 14.01, 14.02 and 14.04 which applies to Securities of such series;

    

    

    (y)          provisions, if any, granting special rights to Holders upon the occurrence of specified events;

    

    

    (z)          any addition to or change in the Events of Default which applies to any Securities of the series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the
      principal amount thereof due and payable pursuant to Section 7.02 and any addition or change in the provisions set forth in Article VII which applies to Securities of the series;

    

    

    (aa)       any addition to or change in the covenants set forth in Article IV or VI or the satisfaction and discharge and defeasance provisions in Article XII , or to any of the definitions or other provisions contained
      herein, which applies to Securities of the series; and

    

    

    (bb)      any other terms of the Securities of such series (which terms shall not be inconsistent with the provisions of the TIA, but may modify, amend, supplement or delete any of the terms of this Indenture with
      respect to such series).

    
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    All Securities of any one series shall be substantially identical, except as to denomination and except as may otherwise be provided herein or set forth in a Board Resolution, a Company Order or in one or more indentures supplemental hereto.

    

    

    Unless otherwise specified with respect to the Securities of any series pursuant to this Section 3.01, the Company may, at its option, at any time and from time to time, issue additional Securities of any series of Securities previously issued
      under this Indenture which together shall constitute a single series of Securities under this Indenture.

    

    

    Section 3.02        Denominations. In the absence of any specification pursuant to Section 3.01 with respect to Securities of any series, the Securities of such series shall be issuable only as Securities in
      denominations of $1,000 and any integral multiple of $1,000 in excess thereof, and shall be payable only in U.S. Dollars.

    

    

    Section 3.03        Execution, Authentication, Delivery and Dating.

    

    

    (a)          The Securities shall be executed in the name and on behalf of the Company by the manual, facsimile or electronic signature of any Officer. If the Person whose signature is on a Security no longer holds that
      office at the time the Security is authenticated and delivered by the Trustee or disposed of by the Company, such Security nevertheless may be authenticated and delivered or disposed of as though the Person who signed such Security had not ceased to
      be such officer of the Company; and any Security may be signed on behalf of the Company by such Persons as, at the actual date of the execution of such Security, shall be the proper Officers of the Issuer, although at the date of the execution and
      delivery of this Indenture any such person was not such Officer. Typographical and other minor errors or defects in any such reproduction of any such signature shall not affect the validity or enforceability of any Security that has been duly
      authenticated and delivered by the Trustee.

    

    

    (b)          At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with
      a Company Order for the authentication and delivery of such Securities and, if required pursuant to Section 3.01, a supplemental indenture, Board Resolution or Company Order setting forth the terms of the Securities of a series. The Trustee shall
      thereupon authenticate and deliver such Securities without any further action by the Company. The Company Order shall specify the amount of Securities to be authenticated and the date on which the original issue of Securities is to be authenticated.

    

    

    (c)          In authenticating the Securities of any series and accepting the additional responsibilities under this Indenture in relation to such Securities, except as to the initial issuance of the Securities of any
      such series, the Trustee shall receive, and (subject to Section 11.02) shall be fully protected in relying upon an Officer’s Certificate and an Opinion of Counsel, each prepared in accordance with Section 16.01 stating that the conditions precedent,
      if any, provided for in the Indenture have been complied with, and also that the execution of such initial issuance, amendment or supplemental indenture is authorized or permitted by this Indenture, and that it will be valid and binding upon the
      Company enforceable in accordance with its terms.

    

    

    (d)          The Trustee shall have the right to decline to authenticate and deliver the Securities under this Section 3.03 if the issue of the Securities pursuant to this Indenture will affect the Trustee’s own rights,
      duties or immunities under the Securities and this Indenture or otherwise in a manner which is not reasonably acceptable to the Trustee.

    

    

    (e)          Each Security shall be dated the date of its authentication, except as otherwise provided pursuant to Section 3.01 with respect to the Securities of such series.

    
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    (f)           If the Company shall establish pursuant to Section 3.01 that the Securities of a series are to be issued in whole or in part in the form of one or more Global Securities, then the Company shall execute and
      the Trustee shall authenticate and deliver one or more Global Securities that (i) shall represent an aggregate amount equal to the aggregate principal amount of the Outstanding Securities of such series to be represented by such Global Securities,
      (ii) shall be registered, in the name of the Depositary for such Global Security or Global Securities or the nominee of such Depositary, (iii) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s instruction and (iv)
      shall bear a legend substantially to the following effect:

    

    

    “THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH SHALL BE TREATED BY THE COMPANY, THE
      TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS SECURITY FOR ALL PURPOSES.

    

    

    UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
      OF THE NOMINEE OF THE DEPOSITARY OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREON IS MADE TO THE NOMINEE OF THE DEPOSITARY OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
      REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, THE NOMINEE OF THE DEPOSITARY, HAS AN INTEREST HEREIN.

    

    

     

    

    

    

    TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE
      DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.”

    

    

    The aggregate principal amount of each Global Security may from time to time be increased or decreased by adjustments made on the records of the Trustee, as provided in this Indenture.

    

    

    (g)          Each Depositary designated pursuant to Section 3.01 for a Global Security in registered form must, at the time of its designation and at all times while it serves as such Depositary, be a clearing agency
      registered under the Exchange Act and any other applicable statute or regulation.

    

    

    (h)          Members of, or participants in, the Depositary (“Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary or by its custodian under such
      Global Security, and the Depositary shall be treated by the Company, the Trustee, the Paying Agent and the Registrar and any of their agents as the absolute owner of such Global Security for all purposes whatsoever. Notwithstanding the foregoing,
      nothing herein shall prevent the Company, the Trustee, the Paying Agent or the Registrar or any of their agents from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the
      Depositary and its Members, the operation of customary practices of the Depositary governing the exercise of the rights of an owner of a beneficial interest in any Global Security. The Holder of a Global Security may grant proxies and otherwise
      authorize any Person, including Members and Persons that may hold interests through Members, to take any action that a Holder is entitled to take under this Indenture or the Securities.

    

    

    (i)            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 one of the
      forms provided for herein duly executed by the Trustee or by an Authenticating Agent by manual signature of an authorized signatory of the Trustee or Authenticating Agent, and such certificate upon any Security shall be conclusive evidence, and the
      only evidence, that such Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture.

    
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    Section 3.04        Temporary Securities.

    

    

    (a)          Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities that are printed,
      lithographed, typewritten, mimeographed or otherwise reproduced, in any authorized denominations, substantially of the tenor of the definitive Securities 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 conclusively evidenced by their execution of such Securities. Any such temporary Security may be in the form of one or more Global Securities,
      representing all or a portion of the Outstanding Securities of such series. Every such temporary Security shall be executed by the Company and shall be authenticated and delivered by the Trustee upon the same conditions and in substantially the same
      manner, and with the same effect, as the definitive Security or Securities in lieu of which it is issued.

    

    

    (b)          If temporary Securities of any series are issued, the Company will cause definitive Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Securities of such
      series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of such temporary Securities at the office or agency of the Company in a Place of Payment for such series, without charge to
      the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of the
      same series of authorized denominations and of like tenor. Until so exchanged, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series.

    

    

    (c)          Upon any exchange of a portion of a temporary Global Security for a definitive Global Security or for the Individual Securities represented thereby pursuant to this Section 3.04 or Section 3.06, the
      temporary Global Security shall be endorsed by the Trustee to reflect the reduction of the principal amount evidenced thereby, whereupon the principal amount of such temporary Global Security shall be reduced for all purposes by the amount so
      exchanged and endorsed.

    

    

    Section 3.05        Registrar.

    

    

    (a)          The Company will keep, at an office or agency to be maintained by it in a Place of Payment where Securities may be presented for registration or presented and surrendered for registration of transfer or of
      exchange, and where Securities of any series that are convertible or exchangeable may be surrendered for conversion or exchange, as applicable (the “Registrar”), a security register for the registration and the registration of transfer or of exchange
      of the Securities (the registers maintained in such office and in any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Register”), as in this Indenture provided, which Register shall
      at all reasonable times be open for inspection by the Trustee. Such Register shall be in written form or in any other form capable of being converted into written form within a reasonable time. The Company may have one or more co-Registrars; the term
      “Registrar” includes any co-registrar.

    

    

    (b)          The Company shall enter into an appropriate agency agreement with any Registrar or co-Registrar not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to
      such agent. The Company shall notify the Trustee of the name and address of each such agent. If the Company fails to maintain a Registrar for any series, the Trustee shall act as such and shall be entitled to appropriate compensation therefor
      pursuant to Section 11.01. The Company or any Affiliate thereof may act as Registrar, co-Registrar or transfer agent.

    

    

    (c)          The Company hereby appoints the Trustee at its Corporate Trust Office as Registrar and Paying Agent in connection with the Securities and this Indenture, until such time as Trustee resigns or another Person
      is appointed as such.

    
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    Section 3.06        Transfer and Exchange.

    

    

    (a)          Transfer.

    

    

    (i)            Upon surrender for registration of transfer of any Security of any series at the Registrar the Company shall execute, and the Trustee or any Authenticating Agent shall authenticate and
      deliver, in the name of the designated transferee, one or more new Securities of the same series for like aggregate principal amount of any authorized denomination or denominations. The transfer of any Security shall not be valid as against the
      Company or the Trustee unless registered at the Registrar at the request of the Holder, or at the request of his, her or its attorney duly authorized in writing.

    

    

    (ii)            Notwithstanding any other provision of this Section, unless and until it is exchanged in whole or in part for the Individual Securities represented thereby, 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.

    

    

    (b)          Exchange.

    

    

    (i)            At the option of the Holder, Securities of any series (other than a Global Security, except as set forth below) may be exchanged for other Securities of the same series for like
      aggregate principal amount of any authorized denomination or denominations, upon surrender of the Securities to be exchanged at the Registrar.

    

    

    (ii)            Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee or Authenticating Agent shall authenticate and deliver, the Securities that the
      Holder making the exchange is entitled to receive.

    

    

    (c)          Exchange of Global Securities for Individual Securities. Except as provided below, owners of beneficial interests in Global Securities will not be entitled to receive Individual Securities.

    

    

    (i)            Individual Securities shall be issued to all owners of beneficial interests in a Global Security in exchange for such interests if: (A) at any time the Depositary for the 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 of such series shall no longer be eligible under Section 3.03(h) and, in each
      case, a successor Depositary is not appointed by the Company within 90 days of such notice, or (B) the Company executes and delivers to the Trustee and the Registrar an Company Order stating that such Global Security shall be so exchangeable.

    

    

    In connection with the exchange of an entire Global Security for Individual Securities pursuant to this subsection (c), such Global Security shall be deemed to be surrendered to the Trustee for
      cancellation, and the Company shall execute, and the Trustee, upon receipt of a Company Order for the authentication and delivery of Individual Securities of such series, will authenticate and deliver to each beneficial owner identified by the
      Depositary in exchange for its beneficial interest in such Global Security, an equal aggregate principal amount of Individual Securities of authorized denominations.

    

    

    (ii)            The owner of a beneficial interest in a Global Security will be entitled to receive an Individual Security in exchange for such interest if an Event of Default has occurred and is
      continuing. Upon receipt by the Trustee and Registrar of instructions from the Holder of a Global Security directing the Trustee and Registrar to (x) issue one or more Individual Securities in the amounts specified to the owner of a beneficial
      interest in such Global Security and (y) debit or cause to be debited an equivalent amount of beneficial interest in such Global Security, subject to the rules and regulations of the Depositary:

    

    

    (A)       the Trustee and Registrar shall notify the Company and the Trustee of such instructions, identifying the owner and amount of such beneficial interest in such Global Security;

    
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    (B)        the Company shall promptly execute and the Trustee, upon receipt of a Company Order for the authentication and delivery of Individual Securities of such series, shall authenticate and
      deliver to such beneficial owner Individual Securities in an equivalent amount to such beneficial interest in such Global Security; and

    

    

    (C)        the Trustee and Registrar shall decrease such Global Security by such amount in accordance with the foregoing. In the event that the Individual Securities are not issued to each such
      beneficial owner promptly after the Registrar has received a request from the Holder of a Global Security to issue such Individual Securities, the Company expressly acknowledges, with respect to the right of any Holder to pursue a remedy pursuant to
      Section 7.07 hereof, the right of any beneficial Holder of Securities to pursue such remedy with respect to the portion of the Global Security that represents such beneficial Holder’s Securities as if such Individual Securities had been issued.

    

    

    (iii)            If specified by the Company pursuant to Section 3.01 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 Individual Securities of such series on such terms as are acceptable to the Company and such Depositary. Thereupon, the Company shall execute, and the Trustee shall authenticate and deliver,
      without service charge,

    

    

    (A)       to each Person specified by such Depositary a new Individual Security or new Individual Securities of the same series, 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

    

    

    (B)        to such Depositary a new Global Security in a denomination equal to the difference, if any, between the principal amount of the surrendered Global Security and the aggregate principal
      amount of Individual Securities delivered to Holders thereof.

    

    

    (iv)            In any exchange provided for in clauses (i) through (iii), the Company will execute and the Trustee will authenticate and deliver Individual Securities in registered form in authorized
      denominations.

    

    

    (v)            Upon the exchange in full of a Global Security for Individual Securities, such Global Security shall be canceled by the Trustee. Individual Securities issued in exchange for a Global
      Security pursuant to this Section shall be registered in such names and in such authorized denominations as the Depositary for such Global Security, pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the
      Trustee. The Trustee shall deliver such Securities to the Persons in whose names such Securities are so registered.

    

    

    (d)          All Securities issued upon any registration of transfer or exchange of Securities shall be valid obligations of the Company evidencing the same debt, and entitled to the same benefits under this Indenture,
      as the Securities surrendered for such registration of transfer or exchange.

    

    

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

    
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    (f)           No service charge will be made for any registration of transfer or exchange of Securities. The Company or the Trustee may require payment of a sum sufficient to cover any tax, assessment or other
      governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than those expressly provided in this Indenture to be made at the Company’s own expense or without expense or charge to the
      Holders.

    

    

    (g)          The Company shall not be required to (i) register, transfer or exchange Securities of any series during a period beginning at the opening of business 15 days before the day of the transmission of a notice of
      redemption of Securities of such series selected for redemption under Section 4.02 and ending at the close of business on the day of such transmission, or (ii) register, transfer or exchange any Security so selected for redemption in whole or in
      part, except the unredeemed portion of any Security being redeemed in part.

    

    

    (h)          In case a successor Company (“Successor Company”) has executed an indenture supplemental hereto with the Trustee pursuant to Section 6.04, any of the Securities previously authenticated or delivered may,
      from time to time, at the request of the Successor Company, be exchanged for other Securities executed in the name of the Successor Company with such changes in phraseology and form as may be appropriate, but otherwise identical to the Securities
      surrendered for such exchange and of like principal amount; and the Trustee, upon Company Order of the Successor Company, shall authenticate and deliver Securities as specified in such order for the purpose of such exchange. If Securities shall at
      any time be authenticated and delivered in any new name of a Successor Company pursuant to this Section 3.06 in exchange or substitution for or upon registration of transfer of any Securities, such Successor Company, at the option of the Holders but
      without expense to them, shall provide for the exchange of all Securities at the time Outstanding for Securities authenticated and delivered in such new name.

    

    

    (i)            The Trustee, Registrar and transfer agent 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 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.

    

    

    (j)            Neither the Trustee nor any agent of the Trustee shall have any responsibility for any actions taken or not taken by the Depositary.

    

    

    Section 3.07        Mutilated, Destroyed, Lost and Stolen Securities.

    

    

    (a)          If (i) any mutilated Security is surrendered to the Trustee at its Corporate Trust Office or (ii) the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any
      Security, and there is delivered to the Company and the Trustee security or indemnity satisfactory to them to save each of them and any Paying Agent harmless, and neither the Company nor the Trustee receives notice that such Security has been
      acquired by a protected purchaser, then the Company shall execute and upon Company Order the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Security, a new Security of the same
      series and of like tenor, form, terms and principal amount, bearing a number not contemporaneously outstanding, such that neither gain nor loss in interest shall result from such exchange or substitution.

    

    

    (b)          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 the amount due on
      such Security in accordance with its terms.

    

    

    (c)          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 respect thereto and any
      other expenses (including the fees and expenses of the Trustee) connected therewith.

    

    

    (d)          Every new Security of any series issued pursuant to this Section 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 that series duly issued hereunder.

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

    

    

    Section 3.08        Payment of Interest: Interest Rights Preserved.

    

    

    (a)          Interest on any Security that is payable and is punctually paid or duly provided for on any Interest Payment Date shall be paid to the Person in whose name such Security (or one or more Predecessor
      Securities) is registered at the close of business on the Record Date for such interest notwithstanding the cancellation of such Security upon any transfer or exchange subsequent to the Record Date. Payment of interest on Securities shall be made at
      the Corporate Trust Office (except as otherwise specified pursuant to Section 3.01) or, at the option of the Company, by check mailed to the address of the Person entitled thereto as such address shall appear in the Register or, in accordance with
      arrangements satisfactory to the Trustee, by wire transfer to an account designated by the Holder.

    

    

    (b)          Any interest on any Security that is 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
      Holder on the relevant Record Date by virtue of his, her or its having been such a Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (i) or (ii) below:

    

    

    (i)            The Company may elect to make payment of any Defaulted Interest to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of
      business on a special record date for the payment of such Defaulted Interest (a “Special Record Date”), which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be
      paid on each such Security and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make
      arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided.
      Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 calendar days and not less than 10 calendar days prior to the date of the proposed payment and not less than 10 calendar
      days after the receipt by the Trustee of the notice of the proposed payment. The 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 the Holders of such Securities at their addresses as they appear in the Register, not less than 10 calendar days prior to such Special Record
      Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor
      Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (ii).

    

    

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

    

    

    (c)          Subject to the provisions set forth herein relating to Record Dates, each Security delivered pursuant to any provision of this Indenture in exchange or substitution for, or upon registration of transfer of,
      any other Security shall carry all the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.

    
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    Section 3.09        Cancellation. Unless otherwise specified pursuant to Section 3.01 for Securities of any series, all Securities surrendered for payment, redemption, registration of transfer or exchange or
      credit against any sinking fund or otherwise shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee for cancellation and shall be promptly canceled by it and, if surrendered to the Trustee, shall be promptly canceled
      by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder that the Company may have acquired in any manner whatsoever, and all Securities so delivered shall be promptly
      canceled by the Trustee. 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. The Trustee shall dispose of all canceled Securities
      held by it in accordance with its then customary procedures and deliver a certificate of such disposal to the Company upon its request therefor. The acquisition of any Securities by the Company shall not operate as a redemption or satisfaction of the
      Indebtedness represented thereby unless and until such Securities are surrendered to the Trustee for cancellation.

    

    

    Section 3.10        Computation of Interest. Except as otherwise specified pursuant to Section 3.01 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a
      360-day year of twelve 30-day months.

    

    

    Section 3.11        Currency of Payments in Respect of Securities.

    

    

    (a)          Except as otherwise specified pursuant to Section 3.01 for Securities of any series, payment of the principal of and premium, if any, and interest on Securities of such series will be made in U.S. Dollars.

    

    

    (b)          For purposes of any provision of the Indenture where the Holders of Outstanding Securities may perform an action that requires that a specified percentage of the Outstanding Securities of all series perform
      such action and for purposes of any decision or determination by the Trustee of amounts due and unpaid for the principal of and premium, if any, and interest on the Securities of all series in respect of which moneys are to be disbursed ratably, the
      principal of and premium, if any, and interest on the Outstanding Securities denominated in a Foreign Currency will be the amount in U.S. Dollars based upon exchange rates, determined as specified pursuant to Section 3.01 for Securities of such
      series, as of the date for determining whether the Holders entitled to perform such action have performed it or as of the date of such decision or determination by the Trustee, as the case may be.

    

    

    (c)          Any decision or determination to be made regarding exchange rates shall be made by an agent appointed by the Company; provided, that such agent shall accept such appointment in writing and the terms of such
      appointment shall, in the opinion of the Company at the time of such appointment, require such agent to make such determination by a method consistent with the method provided pursuant to Section 3.01 for the making of such decision or determination.
      All decisions and determinations of such agent regarding exchange rates shall, in the absence of manifest error, be conclusive for all purposes and irrevocably binding upon the Company, the Trustee and all Holders of the Securities.

    

    

    Section 3.12        Judgments. The Company may provide pursuant to Section 3.01 for Securities of any series that (a) the obligation, if any, of the Company to pay the principal of, premium, if any, and interest
      on the Securities of any series in a Foreign Currency or U.S. Dollars (the “Designated Currency”) as may be specified pursuant to Section 3.01 is of the essence and agrees that, to the fullest extent possible under applicable law, judgments in
      respect of such Securities shall be given in the Designated Currency; (b) the obligation of the Company to make payments in the Designated Currency of the principal of and premium, if any, and interest on such Securities shall, notwithstanding any
      payment in any other Currency (whether pursuant to a judgment or otherwise), be discharged only to the extent of the amount in the Designated Currency that the Holder receiving such payment may, in accordance with normal banking procedures, purchase
      with the sum paid in such other Currency (after any premium and cost of exchange) on the business day in the country of issue of the Designated Currency or in the international banking community (in the case of a composite currency) immediately
      following the day on which such Holder receives such payment; (c) if the amount in the Designated Currency that may be so purchased for any reason falls short of the amount originally due, the Company shall pay such additional amounts as may be
      necessary to compensate for such shortfall; and (d) any obligation of the Company not discharged by such payment shall be due as a separate and independent obligation and, until discharged as provided herein, shall continue in full force and effect.

    
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    Section 3.13        CUSIP Numbers. The Company in issuing any Securities may use CUSIP, ISIN or other similar numbers, if then generally in use, and thereafter with respect to such series, the Trustee may use
      such numbers in any notice of redemption or exchange with respect to such series 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 in writing of any change in the CUSIP, ISIN or other similar numbers.

    

    

    ARTICLE IV

    

    

    REDEMPTION OF SECURITIES

    

    

    Section 4.01        Applicability of Right of Redemption. Redemption of Securities (other than pursuant to a sinking fund, amortization or analogous provision) permitted by the terms of any series of Securities
      shall be made (except as otherwise specified pursuant to Section 3.01 for Securities of any series) in accordance with this Article; provided, however, that if any such terms of a series of Securities shall conflict with any provision of this
      Article, the terms of such series shall govern.

    

    

    Section 4.02        Selection of Securities to be Redeemed.

    

    

    (a)          If the Company shall at any time elect to redeem all or any portion of the Securities of a series then Outstanding, it shall at least 10 days prior to the Redemption Date fixed by the Company (unless a
      shorter period shall be satisfactory to the Trustee) notify the Trustee of such Redemption Date and of the principal amount of Securities to be redeemed. Such notice to Trustee shall be accompanied by an Officer’s Certificate and an Opinion of
      Counsel to the effect that the delivery of a Notice of such redemption to the Holders complies, and that such redemption will comply with the conditions herein. Thereupon the Trustee shall select, on a pro rata basis (if certificated Securities) or
      in such other manner as required by the Depositary (if global Securities) and which may provide for the selection for redemption of a portion of the principal amount of any Security of such series; provided that the unredeemed portion of the
      principal amount of any Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security. In any case where more than one Security of such series is registered in the same name, the
      Trustee may treat the aggregate principal amount so registered as if it were represented by one Security of such series. The Trustee shall, as soon as practicable, notify the Company in writing of the Securities and portions of Securities so
      selected.

    

    

    (b)          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 Security that has been or is to be redeemed. If the Company shall so direct, Securities registered in the name of the Company, any Affiliate or any Subsidiary thereof shall not be included in the
      Securities selected for redemption.

    

    

    Section 4.03        Notice of Redemption.

    

    

    (a)          Notice of redemption shall be given by the Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company, not less than 30 nor more than 60 days prior to the Redemption
      Date (unless a shorter period shall be satisfactory to the Trustee), to the Holders of Securities of any series to be redeemed in whole or in part pursuant to this Article, in the manner provided in Section 16.04. Any notice so given shall be
      conclusively presumed to have been duly given, whether or not the Holder receives such notice. Failure to give such notice, or any defect in such notice to the Holder of any Security of a series designated for redemption, in whole or in part, shall
      not affect the sufficiency of any notice of redemption with respect to the Holder of any other Security of such series. Any redemption of the Securities may, at the Company’s discretion, be subject to one or more conditions precedent.

    
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    (b)          All notices of redemption shall identify the Securities to be redeemed (including CUSIP, ISIN or other similar numbers, if available along with the statement in Section 3.13) and shall state:

    

    

    (i)            such election by the Company to redeem Securities of such series pursuant to provisions contained in this Indenture or the terms of the Securities of such series or a supplemental
      indenture establishing such series, if such be the case;

    

    

    (ii)            the Redemption Date;

    

    

    (iii)            the Redemption Price;

    

    

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

    

    

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

    

    

    (vi)            the Place or Places of Payment where such Securities are to be surrendered for payment of the Redemption Price;

    

    

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

    

    

    (viii)           if such redemption or notice is subject to satisfaction of one or more conditions precedent, such notice shall state that, in the Company’s discretion, the Redemption Date may be
      delayed until such time as any or all of such conditions shall be satisfied (or waived by the Company in its sole discretion), or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not
      have been satisfied (or waived by the Company in its sole discretion) by the Redemption Date, or by the Redemption Date so delayed.

    

    

    Section 4.04        Deposit of Redemption Price. No later than one Business Day prior to the Redemption Date for any Securities, the Company shall deposit with the Trustee or with a Paying Agent (or, if the
      Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 6.03) an amount of money in the Currency in which such Securities are denominated (except as provided pursuant to Section 3.01) sufficient to pay the
      Redemption Price of such Securities or any portions thereof that are to be redeemed on that date.

    

    

    Section 4.05        Securities Payable on Redemption Date. Notice of redemption having been given as aforesaid, any Securities so to be redeemed shall, on the Redemption Date, become due and payable at the
      Redemption Price 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 any such Security for redemption in accordance with said notice,
      such Security shall be paid by the Company at the Redemption Price; provided, however, that (unless otherwise provided pursuant to Section 3.01) installments of interest that have a Stated Maturity on or prior to the Redemption Date for such
      Securities shall be payable according to the terms of such Securities and the provisions of Section 3.08.

    

    

    If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal thereof and premium, if any, thereon shall, until paid, bear interest from the Redemption Date at the rate
      borne by or prescribed in such Securities.

    

    

    Section 4.06        Securities Redeemed in Part. Any Security that is to be redeemed only in part shall be surrendered at the Corporate Trust Office or such other office or agency of the Company as is specified
      in the notice of redemption with, if the Company, the Registrar or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company, the Registrar and the Trustee duly executed by the Holder thereof
      or his, her or its attorney duly authorized in writing, and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series, of like
      tenor and form, of any authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered; except that if a Global Security is so
      surrendered, the Company shall execute, and the Trustee shall authenticate and deliver to the Depositary for such Global Security, without service charge, a new Global Security in a denomination equal to and in exchange for the unredeemed portion of
      the principal of the Global Security so surrendered. In the case of a Security providing appropriate space for such notation, at the option of the Holder thereof, the Trustee, in lieu of delivering a new Security or Securities as aforesaid, may make
      a notation on such Security of the payment of the redeemed portion thereof.

    
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    ARTICLE V

    

    

    SINKING FUNDS

    

    

    Section 5.01        Applicability of Sinking Fund.

    

    

    (a)          Redemption of Securities permitted or required pursuant to a sinking fund for the retirement of Securities of a series by the terms of such series of Securities shall be made in accordance with such terms of
      such series of Securities and this Article, except as otherwise specified pursuant to Article IV for Securities of such series, provided, however, that if any such terms of a series of Securities shall conflict with any provision of this Article, the
      terms of such series shall govern.

    

    

    (b)          The minimum amount of any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “Mandatory Sinking Fund Payment,” and any payment in excess of such minimum
      amount provided for by the terms of Securities of any series is herein referred to as an “Optional Sinking Fund Payment.” If provided for by the terms of Securities of any series, the cash amount of any Mandatory Sinking Fund Payment may be subject
      to reduction as provided in Section 5.02.

    

    

    Section 5.02        Mandatory Sinking Fund Obligation. The Company may, at its option, satisfy any Mandatory Sinking Fund Payment obligation, in whole or in part, with respect to a particular series of Securities
      by (a) delivering to the Trustee Securities of such series in transferable form theretofore purchased or otherwise acquired by the Company or redeemed at the election of the Company pursuant to Article IV or (b) receiving credit for Securities of
      such series (not previously so credited) acquired by the Company and theretofore delivered to the Trustee. The Trustee shall credit such Mandatory Sinking Fund Payment obligation with an amount equal to the Redemption Price specified in such
      Securities for redemption through operation of the sinking fund and the amount of such Mandatory Sinking Fund Payment shall be reduced accordingly. If the Company shall elect to so satisfy any Mandatory Sinking Fund Payment obligation, it shall
      deliver to the Trustee not less than 45 days prior to the relevant sinking fund payment date an Officer’s Certificate, which shall designate the Securities (and portions thereof, if any) so delivered or credited and which shall be accompanied by such
      Securities (to the extent not theretofore delivered) in transferable form. In case of the failure of the Company, at or before the time so required, to give such notice and deliver such Securities the Mandatory Sinking Fund Payment obligation shall
      be paid entirely in moneys.

    

    

    Section 5.03        Optional Redemption at Sinking Fund Redemption Price. In addition to the sinking fund requirements of Section 5.02, to the extent, if any, provided for by the terms of a particular series of
      Securities, the Company may, at its option, make an Optional Sinking Fund Payment with respect to such Securities. Unless otherwise provided by such terms, (a) to the extent that the right of the Company to make such Optional Sinking Fund Payment
      shall not be exercised in any year, it shall not be cumulative or carried forward to any subsequent year, and (b) such optional payment shall operate to reduce the amount of any Mandatory Sinking Fund Payment obligation as to Securities of the same
      series. If the Company intends to exercise its right to make such optional payment in any year it shall deliver to the Trustee not less than 45 days prior to the relevant sinking fund payment date an Officer’s Certificate stating that the Company
      will exercise such optional right, and specifying the amount which the Company will pay on or before the next succeeding sinking fund payment date. Such Officer’s Certificate shall also state that no Event of Default has occurred and is continuing.

    
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    Section 5.04        Application of Sinking Fund Payment.

    

    

    (a)          If the sinking fund payment or payments made in funds pursuant to either Section 5.02 or 5.03 with respect to a particular series of Securities plus any unused balance of any preceding sinking fund payments
      made in funds with respect to such series shall exceed $50,000 (or a lesser sum if the Company shall so request, or such equivalent sum for Securities denominated other than in U.S. Dollars), it shall be applied by the Trustee on the sinking fund
      payment date next following the date of such payment, unless the date of such payment shall be a sinking fund payment date, in which case such payment shall be applied on such sinking fund payment date, to the redemption of Securities of such series
      at the redemption price specified pursuant to Section 4.03(b). The Trustee shall select, in the manner provided in Section 4.02, for redemption on such sinking fund payment date, a sufficient principal amount of Securities of such series to absorb
      said funds, as nearly as may be, and shall, at the expense and in the name of the Company, thereupon cause notice of redemption of the Securities to be given in substantially the manner provided in Section 4.03(a) for the redemption of Securities in
      part at the option of the Company, except that the notice of redemption shall also state that the Securities are being redeemed for the sinking fund. Any sinking fund moneys not so applied by the Trustee to the redemption of Securities of such series
      shall be added to the next sinking fund payment received in funds by the Trustee and, together with such payment, shall be applied in accordance with the provisions of this Section 5.04. Any and all sinking fund moneys held by the Trustee on the last
      sinking fund payment date with respect to Securities of such series, and not held for the payment or redemption of particular Securities of such series, shall be applied by the Trustee to the payment of the principal of the Securities of such series
      at Maturity.

    

    

    (b)          On or prior to each sinking fund payment date, the Company shall pay to the Trustee a sum equal to all interest accrued to but not including the date fixed for redemption on Securities to be redeemed on such
      sinking fund payment date pursuant to this Section 5.04.

    

    

    (c)          The Trustee shall not redeem any Securities of a series with sinking fund moneys or mail any notice of redemption of Securities of such series by operation of the sinking fund during the continuance of a
      Default in payment of interest on any Securities of such series or of any Event of Default (other than an Event of Default occurring as a consequence of this paragraph) of which a Responsible Officer of the Trustee has actual knowledge, except that
      if the notice of redemption of any Securities of such series shall theretofore have been mailed in accordance with the provisions hereof, the Trustee shall redeem such Securities if funds sufficient for that purpose shall be deposited with the
      Trustee in accordance with the terms of this Article. Except as aforesaid, any moneys in the sinking fund at the time any such Default or Event of Default shall occur and any moneys thereafter paid into the sinking fund shall, during the continuance
      of such Default or Event of Default, be held as security for the payment of all the Securities of such series; provided, however, that in case such Default or Event of Default shall have been cured or waived as provided herein, such moneys shall
      thereafter be applied on the next sinking fund payment date on which such moneys are required to be applied pursuant to the provisions of this Section 5.04.

    

    

    

    

    ARTICLE VI

    

    

    PARTICULAR COVENANTS OF THE COMPANY

    

    

    The Company hereby covenants and agrees as follows:

    

    

    Section 6.01        Payments of Securities. The Company will duly and punctually pay the principal of and premium, if any, on each series of Securities, and the interest which shall have accrued thereon, at the
      dates and place and in the manner provided in the Securities and in this Indenture. Such payments shall be considered made on the date due if on such date the Trustee or the Paying Agent holds, in accordance with this Indenture, money sufficient to
      make all payments with respect to such Securities then due.

    

    

    Section 6.02        Paying Agent.

    

    

    (a)          The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities may be presented or surrendered for payment, where Securities of such series may be
      surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served (the “Paying Agent”). The Company will give prompt written notice to the Trustee
      of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations,
      surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as Paying Agent to receive all presentations, surrenders, notices and demands.

    
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    (b)          The Company may also from time to time designate different or additional offices or agencies where the Securities of any series may be presented or surrendered for any or all such purposes (in or outside of
      such Place of Payment), and may from time to time rescind any such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligations described in the preceding paragraph. The Company
      will give prompt written notice to the Trustee of any such additional designation or rescission of designation and of any change in the location of any such different or additional office or agency. The Company shall enter into an appropriate agency
      agreement with any Paying Agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such agent. The Company shall notify the Trustee of the name and address of each such agent. The Company or
      any Affiliate thereof may act as Paying Agent.

    

    

    Section 6.03        To Hold Payment in Trust.

    

    

    (a)          If the Company or an Affiliate thereof shall at any time act as Paying Agent with respect to any series of Securities, then, on or before the date on which the principal of and premium, if any, or interest
      on any of the Securities of that series by their terms or as a result of the calling thereof for redemption shall become payable, the Company or such Affiliate will segregate and hold in trust for the benefit of the Holders of such Securities or the
      Trustee a sum sufficient to pay such principal and premium, if any, or interest which shall have so become payable until such sums shall be paid to such Holders or otherwise disposed of as herein provided, and will notify the Trustee of its action or
      failure to act in that regard. Upon any proceeding under any federal bankruptcy laws with respect to the Company or any Affiliate thereof, if the Company or such Affiliate is then acting as Paying Agent, the Trustee shall replace the Company or such
      Affiliate as Paying Agent.

    

    

    (b)          If the Company shall appoint, and at the time have, a Paying Agent for the payment of the principal of and premium, if any, or interest on any series of Securities, then prior to 11:00 a.m., New York City
      time, on the date on which the principal of and premium, if any, or interest on any of the Securities of that series shall become payable as aforesaid, whether by their terms or as a result of the calling thereof for redemption, the Company will
      deposit with such Paying Agent a sum sufficient to pay such principal and premium, if any, or interest, such sum to be held in trust for the benefit of the Holders of such Securities or the Trustee, and (unless such Paying Agent is the Trustee), the
      Company or any other obligor of such Securities will promptly notify the Trustee of its payment or failure to make such payment.

    

    

    (c)          If the Paying Agent shall be other than the Trustee, the Company will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee,
      subject to the provisions of this Section 6.03, that such Paying Agent shall:

    

    

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

    

    

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

    

    

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

    

    

    (d)          Anything in this Section 6.03 to the contrary notwithstanding, the Company may at any time, for the purpose of obtaining a release, satisfaction or discharge of this Indenture or for any other reason, pay or
      cause to be paid to the Trustee all sums held in trust by the Company or by any Paying Agent other than the Trustee as required by this Section 6.03, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by
      the Company or such Paying Agent.

    
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    (e)          Subject to applicable escheatment laws, any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of and premium, if any, or interest on
      any Security of any series and remaining unclaimed for two years after such principal and premium, if any, or interest has become due and payable shall be paid to the Company upon Company Order along with any interest that has accumulated thereon as
      a result of such money being invested at the direction of the Company, or (if then held by the Company) shall be discharged from such trust, and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company
      for payment of such amounts without interest thereon, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Trustee and the Company as trustee thereof, shall thereupon cease; provided,
      however, that the Trustee or such Paying Agent before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business
      Day and of general circulation in The City of 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 be repaid to the Company.

    

    

    Section 6.04        Merger, Consolidation and Sale of Assets. Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities:

    

    

    (a)          The Company will not consolidate with any other entity or permit a merger of any other entity into the Company or permit the Company to be merged into any other entity, or sell, convey, transfer or lease all
      or substantially all the assets of the Company and its Subsidiaries, taken as a whole, to another entity, unless (i) either the Company shall be the continuing entity, or the successor, transferee or lessee entity (if other than the Company) shall be
      organized and existing under the laws of (x) the United States or any State thereof or the District of Columbia, (y) Bermuda, or (z) any  member  state of the European Union or the United Kingdom and expressly assume, by indenture supplemental
      hereto, executed and delivered by such entity prior to or simultaneously with such consolidation, merger, sale, conveyance, transfer or lease, the due and punctual payment of the principal of and interest and premium, if any, on all the Securities,
      according to their tenor, and the due and punctual performance and observance of all other obligations to the Holders and the Trustee under this Indenture or under the Securities to be performed or observed by the Company; and (ii) immediately after
      such consolidation, merger, sale, conveyance, transfer or lease the Company or the successor, transferee or lessee entity (if other than the Company) would not be in Default in the performance of any covenant or condition of this Indenture.

    

    

    (b)          Upon any consolidation with or merger into any other entity, or any sale, conveyance or transfer lease of all or substantially all of the assets of the Company in accordance with this Section 6.04, the
      successor entity formed by such consolidation or into or with which the Company is merged or to which the Company is sold or to which such conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right
      and power of, the Company under this Indenture with the same effect as if such successor entity had been named as the Company herein, and thereafter, except in the case of a lease, the predecessor Company shall be relieved of all obligations and
      covenants under this Indenture and the Securities, and from time to time such entity may exercise each and every right and power of the Company under this Indenture, in the name of the Company, or in its own name; and any act or proceeding by any
      provision of this Indenture required or permitted to be done by the Board of Directors or any officer of the Company may be done with like force and effect by the like board or officer of any entity that shall at the time be the successor of the
      Company hereunder. In the event of any such sale or conveyance, but not any such lease, the Company (or any successor entity which shall theretofore have become such in the manner described in this Section 6.04) shall be discharged from all
      obligations and covenants under this Indenture and the Securities and may thereupon be dissolved and liquidated.

    

    

    Section 6.05        Compliance Certificate. The Company shall furnish to the Trustee annually the compliance certificate pursuant to Section 10.02.

    

    

    Section 6.06        Conditional Waiver by Holders of Securities. Anything in this Indenture to the contrary notwithstanding, the Company may fail or omit in any particular instance to comply with a covenant or
      condition set forth herein with respect to any series of Securities if the Company shall have obtained and filed with the Trustee, prior to the time of such failure or omission, evidence (as provided in Article VIII) of the consent of the Holders of
      a majority in aggregate principal amount of the Securities of such series at the time Outstanding (except as to a covenant or condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding
      Security of such series affected), either waiving such compliance in such instance or generally waiving 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, or impair any right consequent thereon and, until such waiver shall have become effective, the obligations of the Company and the duties of the Trustee in respect of any such covenant or condition shall remain in full force and
      effect.

    
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    Section 6.07        Statement by Officers as to Default. The Company shall deliver to the Trustee as soon as practicable, and in any event within 30 days, after the Company becomes aware of the occurrence of any
      Event of Default or an event which, with the giving of 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, in accordance with Section 10.02.

    

    

    Section 6.08        Corporate Existence.

    

    

    (a)          The Company covenants and represents that neither they nor any of their affiliates, subsidiaries, directors or officers are the target or subject of any sanctions enforced by the US Government, (including,
      the Office of Foreign Assets Control of the US Department of the Treasury (“OFAC”)), the United Nations Security Council, the European Union, HM Treasury, or other relevant sanctions authority (collectively “Sanctions”).

    

    

    (b)          The Company covenants and represents that neither they nor any of their affiliates, subsidiaries, directors or officers will use any payments made pursuant to this Indenture, (i) to fund or facilitate any
      activities of or business with any person who, at the time of such funding or facilitation, is the subject or target of Sanctions, (ii) to fund or facilitate any activities of or business with any country or territory that is the target or subject of
      Sanctions, or (iii) in any other manner that will result in a violation of Sanctions by any person.

    

    

    ARTICLE VII

    

    

    REMEDIES OF TRUSTEE AND SECURITYHOLDERS

    

    

    Section 7.01        Events of Default. Except where otherwise indicated by the context or where the term is otherwise defined for a specific purpose, the term “Event of Default” as used in this Indenture with
      respect to Securities of any series shall mean any of the following described events unless it is either inapplicable to a particular series or it is specifically deleted or modified in the manner contemplated in Section 3.01:

    

    

    (a)          the failure of the Company to pay any installment of interest on any Security of such series when and as the same shall become payable, which failure shall have continued unremedied for a period of 30 days;

    

    

    (b)          the failure of the Company to pay the principal of (and premium, if any, on) any Security of such series, when and as the same shall become payable, whether at Maturity as therein expressed, by call for
      redemption (otherwise than pursuant to a sinking fund), upon acceleration under this Indenture or otherwise;

    

    

    (c)          the failure of the Company, subject to the provisions of Section 6.06, to perform any covenants or satisfy any conditions contained in this Indenture (or the terms of the Securities of such series or a
      supplemental indenture establishing such series) (other than a covenant or condition which has been expressly included in this Indenture solely for the benefit of a series of Securities other than that series and other than a covenant or condition a
      default in the performance of which is elsewhere in this Section 7.01 specifically addressed), which failure shall not have been remedied, or without provision deemed to be adequate for the remedying thereof having been made, for a period of 60 days
      after written notice shall have been given to the Company by the Trustee or shall have been given to the Company and the Trustee by Holders of 25% or more in aggregate principal amount of the Securities of such series then Outstanding, specifying
      such failure, requiring the Company to remedy the same and stating that such notice is a “Notice of Default” hereunder;

    
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    (d)          the entry by a court having jurisdiction in the premises of a decree or order for relief in respect of the Company in an involuntary case under the federal bankruptcy laws, as now or hereafter constituted,
      or any other applicable federal or state bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, Viscount in Jersey, trustee or sequestrator (or similar official) of the
      Company or of substantially all the property of the Company or ordering the winding-up or liquidation of its affairs and such decree or order shall remain unstayed and in effect for a period of 90 consecutive days;

    

    

    (e)           the commencement by the Company of a voluntary case under the federal bankruptcy laws, as now or hereafter constituted, or any other applicable federal or state bankruptcy, insolvency or other similar law
      now or hereafter in effect, or the consent by the Company to the entry of an order for relief in an involuntary case under any such law, or the consent by the Company to the appointment of or taking possession by a receiver, liquidator, assignee,
      trustee, custodian, Viscount in Jersey or sequestrator (or similar official) of the Company or of substantially all the property of the Company or the making by it of an assignment for the benefit of creditors or the admission by it in writing of its
      inability to pay its debts generally as they become due, or the taking of corporate action by the Company in furtherance of any action; or

    

    

    (g)                  the occurrence of any other Event of Default with respect to Securities of such series as provided in Section 3.01;

    

    

    provided, however, that no event described in clause (c) or clause (g) (other than with respect to a payment default) above shall constitute an Event of Default hereunder until the Trustee or the Holders of 25% or more in aggregate principal
      amount of the Securities of such series the Outstanding, notify the Company (and the Trustee in case of notice by the Holders) of the Default, specifying the Default, requiring the Company to remedy the same and stating that such notice is a “Notice
      of Default” hereunder.

    

    

    Notwithstanding the foregoing provisions of this Section 7.01, if the principal or any premium or interest on any Security is payable in a Currency other than the Currency of the United States and such Currency is not
      available to the Company for making payment thereof due to the imposition of exchange controls or other circumstances beyond the control of the Company, the Company will be entitled to satisfy its obligations to Holders of the Securities by making
      such payment in the Currency of the United States in an amount equal to the Currency of the United States equivalent of the amount payable in such other Currency, as determined by the Company’s agent in accordance with Section 3.11(c) hereof by
      reference to the noon buying rate in The City of New York for cable transfers for such Currency (“Exchange Rate”), as such Exchange Rate is reported or otherwise made available by the Federal Reserve Bank of New York on the date of such payment, or,
      if such rate is not then available, on the basis of the most recently available Exchange Rate. Notwithstanding the foregoing provisions of this Section 7.01, any payment made under such circumstances in the Currency of the United States where the
      required payment is in a Currency other than the Currency of the United States will not constitute an Event of Default under this Indenture.

    

    

    Section 7.02        Acceleration; Rescission and Annulment.

    

    

    (a)          Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, if any one or more of the above-described Events of Default (other than an Event of Default specified in
      Section 7.01(d) or 7.01(e)) shall happen with respect to Securities of any series at the time Outstanding, then, and in each and every such case, during the continuance of any such Event of Default, the Trustee or the Holders of 25% or more in
      principal amount of the Securities of such series then Outstanding may declare the principal (or, if the Securities of that series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of that
      series) of and all accrued and unpaid interest on all the Securities of such series then Outstanding to be due and payable immediately by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such acceleration such
      principal amount (or specified amount) and accrued and unpaid interest thereon shall become immediately due and payable. If an Event of Default specified in Section 7.01(d) or 7.01(e) occurs and is continuing, then in every such case, the principal
      amount (or, if the Securities of that series are Original Issue Discount Securities, such portion of the principal amount as may be specified by the terms of that series) of and accrued and unpaid interest on all of the Securities of that series then
      Outstanding shall automatically, and without any acceleration or any other action on the part of the Trustee or any Holder, become due and payable immediately. Upon payment of such amounts in the Currency in which such Securities are denominated
      (subject to the last paragraph of Section 7.01 and except as otherwise provided pursuant to Section 3.01), all obligations of the Company in respect of the payment of principal of and interest on the Securities of such series shall terminate.

    
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    (b)          The provisions of Section 7.02(a), however, are subject to the condition that, at any time after the principal and accrued and unpaid interest on all the Securities of such series, to which any one or more
      of the above-described Events of Default is applicable, shall have been so declared to be or shall have automatically become due and payable, and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter
      provided in this Article, Holders of a majority in principal amount of the Securities of that Series then Outstanding, by written notice to the Company and the Trustee, may rescind and annual such acceleration if:

    

    

    (i)            the Company has paid or deposited with the Trustee or Paying Agent a sum in the Currency in which such Securities are denominated (subject to the last paragraph of Section 7.01 and
      except as otherwise provided pursuant to Section 3.01) sufficient to pay:

    

    

    (A)       all amounts owing the Trustee and any predecessor trustee hereunder under this Indenture, including Section 11.01(a) (provided, however, that all sums payable under this clause (A) shall
      be paid in U.S. Dollars);

    

    

    (B)        all accrued and unpaid interest, if any, upon all the Securities of such series with interest thereon to the extent that interest thereon shall be legally enforceable, on any overdue
      installment of interest at the rate borne by or prescribed in such Securities; and

    

    

    (C)        the principal of and accrued and unpaid premium, if any, on any Securities of such series that have become due otherwise than by such acceleration with interest thereon to the extent that
      interest thereon shall be legally enforceable, on any overdue installment of interest at the rate borne by or prescribed in such Securities; and

    

    

    (ii)            every other Default and Event of Default with respect to Securities of that series, other than the non-payment of the principal of Securities of that series which have become due solely
      by such acceleration, have been cured or waived as provided in Section 7.06.

    

    

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

    

    

    (d)          For all purposes under this Indenture, if a portion of the principal of any Original Issue Discount Securities shall have been accelerated and declared due and payable pursuant to the provisions hereof,
      then, from and after such acceleration, unless such acceleration has been rescinded and annulled, the principal amount of such Original Issue Discount Securities shall be deemed, for all purposes hereunder, to be such portion of the principal thereof
      as shall be due and payable as a result of such acceleration, and payment of such portion of the principal thereof as shall be due and payable as a result of such acceleration, together with interest, if any, thereon and all other amounts owing
      thereunder, shall constitute payment in full of such Original Issue Discount Securities.

    

    

    Section 7.03        Other Remedies. If the Company shall fail for a period of 30 days to pay any installment of interest on the Securities of any series or shall fail to pay any principal of and premium, if any,
      on any of the Securities of such series when and as the same shall become due and payable, whether at Maturity, or by call for redemption (other than pursuant to the sinking fund), by acceleration as authorized by this Indenture, or otherwise, then,
      upon demand of the Trustee, the Company will pay to the Paying Agent for the benefit of the Holders of Securities of such series then Outstanding the whole amount which then shall have become due and payable on all the Securities of such series for
      principal, premium, if any, and accrued and unpaid interest, with interest (so far as the same may be legally enforceable) on the overdue principal and on the overdue premium, if any, and accrued and unpaid interest at the rate borne by or prescribed
      in such Securities, and all amounts owing the Trustee and any predecessor trustee hereunder under Section 11.01(a).

    
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    In case the Company shall fail forthwith to pay such amounts upon such demand, the Trustee, in its own name and as trustee of an express trust, shall be entitled and empowered to institute any action or proceeding at law
      or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such judgment or final decree against the Company or any other obligor upon the Securities
      of such series, and collect the moneys adjudged or decreed to be payable out of the property of the Company or any other obligor upon the Securities of such series, wherever situated, in the manner provided by law. Every recovery of judgment in any
      such action or other proceeding, subject to the payment to the Trustee of all amounts owing the Trustee and any predecessor trustee hereunder under Section 11.01(a), shall be for the ratable benefit of the Holders of such series of Securities which
      shall be the subject of such action or proceeding. All rights of action upon or under any of the Securities or this Indenture may be enforced by the Trustee without the possession of any of the Securities and without the production of any thereof at
      any trial or any proceeding relative thereto.

    

    

    Section 7.04        Trustee as Attorney-in-Fact. The Trustee is hereby appointed, and each and every Holder of the Securities, by receiving and holding the same, shall be conclusively deemed to have appointed the
      Trustee, the true and lawful attorney-in-fact of such Holder, with authority to make or file (whether or not the Company shall be in Default in respect of the payment of the principal of, premium, if any, or interest on, any of the Securities), in
      its own name and as trustee of an express trust or otherwise as it shall deem advisable, in any receivership, insolvency, liquidation, bankruptcy, reorganization or other judicial proceeding relative to the Company or any other obligor upon the
      Securities or to their respective creditors or property, any and all claims, proofs of claim, proofs of debt, petitions, consents, other papers and documents and amendments of any thereof, as may be necessary or advisable in order to have the claims
      of the Trustee and any predecessor trustee hereunder and of the Holders of the Securities allowed in any such proceeding and to collect and receive any moneys or other property payable or deliverable on any such claim, and to execute and deliver any
      and all other papers and documents and to do and perform any and all other acts and things, as it may deem necessary or advisable in order to enforce in any such proceeding any of the claims of the Trustee and any predecessor trustee hereunder and of
      any of such Holders in respect of any of the Securities; and any receiver, assignee, trustee, custodian or debtor in any such proceeding is hereby authorized, and each and every taker or Holder of the Securities, by receiving and holding the same,
      shall be conclusively deemed to have authorized any such receiver, assignee, trustee, custodian or debtor, to make any such payment or delivery only to or on the order of the Trustee, and to pay to the Trustee any amount due it and any predecessor
      trustee hereunder under Section 11.01(a); provided, however, that nothing herein contained shall be deemed to authorize or empower the Trustee to consent to or accept or adopt, on behalf of any Holder of Securities, any plan of reorganization or
      readjustment affecting the Securities or the rights of any Holder thereof, or to authorize or empower the Trustee to vote in respect of the claim of any Holder of any Securities in any such proceeding.

    

    

    Section 7.05        Priorities. Any moneys or properties collected by the Trustee with respect to a series of Securities under this Article VII or distributable in respect of the Company’s obligations under this
      Indenture after an Event of Default shall be applied in the order following, at the date or dates fixed by the Trustee for the distribution of such moneys or properties and, in the case of the distribution of such moneys or properties on account of
      the Securities of any series, upon presentation of the Securities of such series, and stamping thereon the payment, if only partially paid, and upon surrender thereof, if fully paid:

    

    

    First: To the payment of all amounts due to the Trustee and any predecessor trustee hereunder under this Indenture, including Section 11.01(a).

    

    

    Second: Subject to Article XV (to the extent applicable to any series of Securities then outstanding), to the payment of the amounts then due and unpaid for principal of and any premium and interest on
      the Outstanding Securities of such series 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 Outstanding Securities for
      principal and any premium and interest, respectively.

    

    

    Any surplus then remaining shall be paid to the Company or as directed by a court of competent jurisdiction.

    
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    Section 7.06        Control by Securityholders; Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities of any series at the time Outstanding may direct the time, method and place
      of conducting any proceeding for any remedy available to the Trustee hereunder, or of exercising any trust or power hereby conferred upon the Trustee with respect to the Securities of such series, provided, however, that, subject to the provisions of
      Sections 11.01 and 11.02, the Trustee shall have the right to decline to follow any such direction if the Trustee being advised by counsel determines that the action so directed may not lawfully be taken or would be unduly prejudicial to Holders not
      joining in such direction or would involve the Trustee in personal liability. Prior to any acceleration of the Maturity of the Securities of any series, the Holders of a majority in aggregate principal amount of such series of Securities at the time
      Outstanding may on behalf of the Holders of all of the Securities of such series waive any past Default or Event of Default hereunder and its consequences except a Default in the payment of interest or any premium on or the principal of the
      Securities of such series and except as to a covenant or condition which under Section 14.02 cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected, in which case the consent of the Holder
      of each Outstanding Security of such series affected shall be required for such waiver. Upon any such waiver the Company, the Trustee and the Holders of the Securities of such series shall be restored to their former positions and rights hereunder,
      respectively; but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereon. Whenever any Default or Event of Default hereunder shall have been waived as permitted by this Section 7.06,
      said Default or Event of Default shall for all purposes of the Securities of such series and this Indenture be deemed to have been cured and to be not continuing.

    

    

    Section 7.07        Limitation on Suits. No Holder of any Security of any series shall have any right to institute any action, suit or proceeding at law or in equity for the execution of any trust hereunder or
      for the appointment of a receiver or for any other remedy hereunder, in each case with respect to an Event of Default with respect to such series of Securities, unless such Holder previously shall have given to the Trustee written notice of one or
      more of the Events of Default herein specified with respect to such series of Securities, and unless also the Holders of 25% or more in principal amount of the Securities of such series then Outstanding shall have requested the Trustee in writing to
      take action in respect of the matter complained of, and unless also there shall have been offered to the Trustee security and indemnity reasonably satisfactory to it against the costs, loss, expenses and liabilities to be incurred therein or thereby,
      and the Trustee, for 60 days after receipt of such notification, request and offer of indemnity, shall have neglected or refused to institute any such action, suit or proceeding; and such notification, request and offer of indemnity are hereby
      declared in every such case to be conditions precedent to any such action, suit or proceeding by any Holder of any Security of such series; it being understood and intended that no one or more of the Holders of Securities of such series shall have
      any right in any manner whatsoever by his, her, its or their action to enforce any right hereunder, except in the manner herein provided, and that every action, suit or proceeding at law or in equity shall be instituted, had and maintained in the
      manner herein provided and for the equal benefit of all Holders of the Outstanding Securities of such series; provided, however, that nothing in this Indenture or in the Securities of such series shall affect or impair the obligation of the Company,
      which is absolute and unconditional, to pay the principal of, premium, if any, and interest on the Securities of such series to the respective Holders of such Securities at the respective due dates in such Securities stated, or affect or impair the
      right, which is also absolute and unconditional, of such Holders to institute suit to enforce the payment thereof.

    

    

    Section 7.08        Undertaking for Costs. All parties to this Indenture and each Holder of any Security, by such Holder’s acceptance thereof, shall be deemed to have agreed that any court may in its discretion
      require, in any action, suit or proceeding for the enforcement of any right or remedy under this Indenture, or in any action, suit or proceeding against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in
      such action, suit or proceeding of an undertaking to pay the costs of such action, suit or proceeding, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in
      such action, suit or proceeding, having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided, however, that the provisions of this Section 7.08 shall not apply to any action, suit or proceeding
      instituted by the Trustee, to any action, suit or proceeding instituted by any one or more Holders of Securities holding in the aggregate more than 10% in principal amount of the Securities of any series Outstanding, or to any action, suit or
      proceeding instituted by any Holder of Securities of any series for the enforcement of the payment of the principal of or premium, if any, or the interest on, any of the Securities of such series, on or after the respective due dates expressed in
      such Securities.

    
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    Section 7.09        Remedies Cumulative. No remedy herein conferred upon or reserved to the Trustee or to the Holders of Securities of any series is intended to be exclusive of any other remedy or remedies, and
      each and every remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing at law or in equity or by statute. No delay or omission of the Trustee or of any Holder of the Securities of any
      series to exercise any right or power accruing upon any Default or Event of Default shall impair any such right or power or shall be construed to be a waiver of any such Default or Event of Default or an acquiescence therein; and every power and
      remedy given by this Article VII to the Trustee and to the Holders of Securities of any series, respectively, may be exercised from time to time and as often as may be deemed expedient by the Trustee or by the Holders of Securities of such series, as
      the case may be. In case the Trustee or any Holder of Securities of any series shall have proceeded to enforce any right under this Indenture and the proceedings for the enforcement thereof shall have been discontinued or abandoned because of waiver
      or for any other reason or shall have been adjudicated adversely to the Trustee or to such Holder of Securities, then and in every such case the Company, the Trustee and the Holders of the Securities of such series shall severally and respectively be
      restored to their former positions and rights hereunder, and thereafter all rights, remedies and powers of the Trustee and the Holders of the Securities of such series shall continue as though no such proceedings had been taken, except as to any
      matters so waived or adjudicated.

    

    

    ARTICLE VIII

    

    

    CONCERNING THE SECURITYHOLDERS

    

    

    Section 8.01        Evidence of Action of Securityholders. Whenever in this Indenture it is provided that the Holders of a specified percentage or a majority in aggregate principal amount of the Securities or of
      any series of Securities may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of taking any such action the Holders of such
      specified percentage or majority have joined therein may be evidenced by (a) any instrument or any number of instruments of similar tenor executed by Securityholders in person, by an agent or by a proxy appointed in writing, including through an
      electronic system for tabulating consents operated by the Depositary for such series or otherwise (such action becoming effective, except as herein otherwise expressly provided, when such instruments or evidence of electronic consents are delivered
      to the Trustee and, where it is hereby expressly required, to the Company), or (b) by the record of the Holders of Securities voting in favor thereof at any meeting of Securityholders duly called and held in accordance with the provisions of Article
      IX, or (c) by a combination of such instrument or instruments and any such record of such a meeting of Securityholders.

    

    

    Section 8.02        Proof of Execution or Holding of Securities. Proof of the execution of any instrument by a Securityholder or his, her or its agent or proxy and proof of the holding by any Person of any of the
      Securities shall be sufficient if made in the following manner:

    

    

    (a)          The fact and date of the execution by any Person of any such instrument may be proved (i) by the certificate of any notary public or other officer in any jurisdiction who, by the laws thereof, has power to
      take acknowledgments or proof of deeds to be recorded within such jurisdiction, that the Person who signed such instrument did acknowledge before such notary public or other officer the execution thereof, or (ii) by the affidavit of a witness of such
      execution sworn to before any such notary or other officer. Where such execution is by a Person acting in other than his or her individual capacity, such certificate or affidavit shall also constitute sufficient proof of his or her authority.

    

    

    (b)          The ownership of Securities of any series shall be proved by the Register of such Securities or by a certificate of the Registrar for such series.

    

    

    (c)          The record of any Holders’ meeting shall be proved in the manner provided in Section 9.06.

    

    

    (d)          The Trustee may require such additional proof of any matter referred to in this Section 8.02 as it shall deem appropriate or necessary, so long as the request is a reasonable one.

    
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    (e)          If the Company shall solicit from the Holders of Securities of any series any action, the Company may, at its option fix in advance a record date for the determination of Holders of Securities entitled to
      take such action, but the Company shall have no obligation to do so. Any such record date shall be fixed at the Company’s discretion. If such a record date is fixed, such action may be sought or given before or after the record date, but only the
      Holders of Securities of record at the close of business on such record date shall be deemed to be Holders of Securities for the purpose of determining whether Holders of the requisite proportion of Outstanding Securities of such series have
      authorized or agreed or consented to such action, and for that purpose the Outstanding Securities of such series shall be computed as of such record date.

    

    

    Section 8.03        Persons Deemed Owners.

    

    

    (a)          The Company, the Trustee or any of their agents shall treat the Person in whose name any Security is registered as the owner of such Security for the purpose of receiving payment of principal of and premium,
      if any, and (subject to Section 3.08) interest, if any, on, such Security and for all other purposes whatsoever, whether or not such Security be overdue, and neither the Company, the Trustee nor any of their agents shall be affected by notice to the
      contrary. All payments made to any Holder, or upon his, her or its order, shall be valid, and, to the extent of the sum or sums paid, effectual to satisfy and discharge the liability for moneys payable upon such Security.

    

    

    (b)          None of the Company, the Trustee, or any of their agents will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests in a
      Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests.

    

    

    Section 8.04        Effect of Consents. After an amendment, supplement, waiver or other action becomes effective as to any series of Securities, a consent to it by a Holder of such series of Securities is a
      continuing consent conclusive and binding upon such Holder and every subsequent Holder of the same Securities or portion thereof, and of any Security issued upon the transfer thereof or in exchange therefor or in place thereof, even if notation of
      the consent is not made on any such Security.

    

    

    ARTICLE IX

    

    

    SECURITYHOLDERS’ MEETINGS

    

    

    Section 9.01        Purposes of Meetings. A meeting of Securityholders of any or all series may be called at any time and from time to time pursuant to the provisions of this Article IX for any of the following
      purposes:

    

    

    (a)          to give any notice to the Company or to the Trustee, or to give any directions to the Trustee, or to consent to the waiving of any Default or Event of Default hereunder and its consequences, or to take any
      other action authorized to be taken by Securityholders pursuant to any of the provisions of Article VIII;

    

    

    (b)          to remove the Trustee and nominate a successor trustee pursuant to the provisions of Article XI;

    

    

    (c)          to consent to the execution of an Indenture or of indentures supplemental hereto pursuant to the provisions of Section 14.02; or

    

    

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

    

    

    Section 9.02        Call of Meetings by Trustee. The Trustee may at any time call a meeting of all Securityholders of any or all series that may be affected by the action proposed to be taken, to take any action
      specified in Section 9.01, to be held at such time and at such place as the Trustee shall determine. Notice of every meeting of the Securityholders of a series, setting forth the time and the place of such meeting and in general terms the action
      proposed to be taken at such meeting, shall be mailed or sent at the expense of the Company to Holders of Securities of such series at their addresses as they shall appear on the Register of the Company. Such notice shall be mailed or sent not less
      than 20 nor more than 90 days prior to the date fixed for the meeting.

    
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    Section 9.03        Call of Meetings by Company or Securityholders. In case at any time the Company or the Holders of at least 10% in aggregate principal amount of the Securities of any or all series then
      Outstanding that may be affected by the action proposed to be taken, shall have requested the Trustee to call a meeting of Securityholders of such series, by written request setting forth in reasonable detail the action proposed to be taken at the
      meeting, and the Trustee shall not have mailed or sent the notice of such meeting within 20 days after receipt of such request, then the Company or such Securityholders may determine the time and the place for such meeting and may call such meeting
      to take any action authorized in Section 9.01, by mailing notice thereof as provided in Section 9.02.

    

    

    Section 9.04        Qualifications for Voting. To be entitled to vote at any meeting of Securityholders, a Person shall (a) be a Holder of one or more Securities affected by the action proposed to be taken at the
      meeting or (b) be a Person appointed by an instrument in writing as proxy by a Holder of one or more such Securities. The only Persons who shall be entitled to be present or to speak at any meeting of Securityholders shall be the Persons entitled to
      vote at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company and its counsel. Unless otherwise expressly provided pursuant to Section 3.01 with respect to the Securities of any
      series, any vote, consent, waiver or other action given or taken by the Holders of any series of Securities at a meeting shall be given or taken, as the case may be, by the Holders of such series of Securities as a separate class.

    

    

    Section 9.05        Regulation of Meetings.

    

    

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

    

    

    (b)          The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Securityholders as provided in Section 9.03, in
      which case the Company or the Securityholders calling the meeting, as the case may be, shall in like manner appoint a temporary chair. A permanent chairman and a permanent secretary of the meeting shall be elected by majority vote of the meeting.

    

    

    (c)          At any meeting of Securityholders of a series, each Securityholder of such series of such Securityholder’s proxy shall be entitled to one vote for each $1,000 principal amount of Securities of such series
      Outstanding held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. If the Securities
      of any series are issuable in minimum denominations of less than $1,000, then a Holder of such a Security in a principal amount of less than $1,000 shall be entitled to a fraction of one vote which is equal to the fraction that the principal amount
      of such Security bears to $1,000. The chairman of the meeting shall have no right to vote other than by virtue of Securities of such series held by him or her or instruments in writing as aforesaid duly designating him or her as the Person to vote on
      behalf of other Securityholders. At any meeting of the Securityholders of any series duly called pursuant to the provisions of Section 9.02 or 9.03, the presence of Persons holding or representing Securities of such series in an aggregate principal
      amount sufficient to take action as it concerns the Securities of such series upon the business for the transaction of which such meeting was called shall be necessary to constitute a quorum, and any such meeting may be adjourned from time to time by
      a majority of those present, whether or not constituting a quorum, and the meeting may be held as so adjourned without further notice.

    
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    Section 9.06        Voting. The vote upon any resolution submitted to any meeting of Securityholders of a series shall be by written ballots on which shall be subscribed the signatures of the Holders of
      Securities of such series or of their representatives by proxy and the principal amounts of the Securities of such series held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all
      votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record of the proceedings of each meeting of
      Securityholders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more Persons having knowledge of
      the facts setting forth a copy of the notice of the meeting and showing that said notice was mailed as provided in Section 9.02. The record shall show the principal amounts of the Securities voting in favor of or against any resolution. The record
      shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and a copy shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee.

    

    

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

    

    

    Section 9.07        No Delay of Rights by Meeting. Nothing contained in this Article IX shall be deemed or construed to authorize or permit, by reason of any call of a meeting of Securityholders of any series or
      any rights expressly or impliedly conferred hereunder to make such call, any hindrance or delay in the exercise of any right or rights conferred upon or reserved to the Trustee or to the Securityholders of such series under any of the provisions of
      this Indenture or of the Securities of such series.

    

    

    ARTICLE X

    

    

    REPORTS BY THE COMPANY AND THE TRUSTEE AND

    SECURITYHOLDERS’ LISTS

    

    

    Section 10.01      Reports by Trustee.

    

    

    (a)          So long as any Securities are outstanding, the Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture
      Act at the times and in the manner provided therein. If required by Section 313(a) of the Trust Indenture Act, the Trustee shall, within 60 days after each anniversary following the date of the first issuance of securities under this Indenture
      deliver to Holders a brief report which complies with the provisions of such Section 313(a).

    

    

    (b)          If required by Section 313(d) of the Trust Indenture Act, the Trustee shall, at the time of the transmission to the Holders of Securities of any report pursuant to the provisions of this Section 10.01, file
      a copy of such report with each stock exchange upon which the Securities are listed, if any, and also with the SEC in respect of a Security listed and registered on a national securities exchange, if any. The Company agrees to notify the Trustee
      when, as and if the Securities become listed on any stock exchange or any delisting thereof.

    

    

    (c)          The Company will reimburse the Trustee for all expenses incurred in the preparation and transmission of any report pursuant to the provisions of this Section 10.01 and of Section 10.02.

    

    

    Section 10.02      Reports by the Company.

    

    

    (a)          The Company shall file with the Trustee and the SEC, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act
      at the times and in the manner provided in the Trust Indenture Act.

    

    

    (b)          The Company shall, so long as any Securities are outstanding, deliver to the Trustee within 15 days after it files them with the SEC 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 SEC may by rules and regulations prescribe) which the Company is required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act. Reports, information and documents
      filed with the SEC via the EDGAR system will be deemed to be delivered to the Trustee as of the time of such filing via EDGAR for purposes of this Section 10.02. Delivery of reports, information and documents to the Trustee is for informational
      purposes only and its receipt of such reports shall not constitute constructive or actual notice or knowledge of any information contained therein or determinable from information contained therein, including our compliance with any of the Company’s
      covenants under this Indenture or the Securities (as to which the trustee is entitled to rely exclusively on Officer’s Certificates). The Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, the Company’s
      compliance with the covenants or with respect to any reports or other documents filed with the SEC or EDGAR or any website under this Indenture or participate in any conference calls.

    
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    (c)          Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, the Company shall furnish to the Trustee annually, within 120 days after the end of each fiscal year, a
      brief certificate from an Officer as to his or her knowledge of the Company’s compliance with all conditions and covenants under this Indenture (which compliance shall be determined without regard to any period of grace or requirement of notice
      provided under this Indenture) and, in the event of any Default, specifying each such Default and the nature and status thereof of which such person may have knowledge. Such certificates need not comply with Section 16.01 of this Indenture.

    

    (d)          The Company will, so long as any of the Securities are outstanding, deliver to the Trustee a certificate regarding any Default or Event of Default pursuant to Section 6.07.

    

    

    Section 10.03      Securityholders’ Lists. The Company covenants and agrees that it will furnish or cause to be furnished to the Trustee:

    

    

    (a)          semi-annually, within 15 days after each Record Date, but in any event not less frequently than semi-annually, a list in such form as the Trustee may reasonably require of the names and addresses of the
      Holders of Securities to which such Record Date applies, as of such Record Date, and

    

    

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

    

    

    provided, however, that so long as the Trustee shall be the Registrar, such lists shall not be required to be furnished.

    

    

    ARTICLE XI

    

    

    CONCERNING THE TRUSTEE

    

    

    Section 11.01      Rights of Trustees; Compensation and Indemnity. The Trustee accepts the trusts created by this Indenture upon the terms and conditions hereof, including the following, to all of which the
      parties hereto and the Holders from time to time of the Securities agree:

    

    

    (a)          The Trustee shall receive such compensation as the Company and the Trustee shall from time to time agree in writing for all services rendered by it hereunder (including in any agent capacity in which it
      acts). The compensation of the Trustee shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust. The Company shall reimburse the Trustee promptly upon its request for all reasonable out-of-pocket
      expenses, disbursements and advances incurred or made by the Trustee (including the reasonable expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its own negligence or
      willful misconduct as adjudicated by a court of competent jurisdiction.

    

    

    (b)          The Company shall indemnify each of the Trustee and any predecessor Trustee (including the cost of defending itself) and hold it or them harmless against any loss, liability or, damage, claim, fee, expense
      or cost (including reasonable attorney’s fees and expenses and court costs) (whether brought by the Company, any Holder, or any third-party) and including taxes (other than taxes based upon, measured by or determined by the income of the Trustee)
      incurred by it except as set forth in the next paragraph in the acceptance or administration of this Indenture, the exercise of its rights and powers, and the performance of its duties under this Indenture as Trustee or Agent (including the
      enforcement of the terms of this Indenture and the indemnification provided herein). This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee. The Company need not reimburse any expense or indemnify
      against any loss or liability incurred by the Trustee or by any officer, director, employee, shareholder or agent of the Trustee through willful misconduct or negligence as finally adjudicated by a court of competent jurisdiction. The Trustee shall
      notify the Company promptly of any claim for which it may seek indemnity. The Company shall defend the claim and the Trustee shall cooperate in the defense. The Trustee may have one separate counsel of its selection and the Company shall pay the
      reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld.

    
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    (c)          As security for the performance of the obligations of the Company under this Section 11.01(a), the Trustee shall have a lien upon all property and funds held or collected by the Trustee as such, except funds
      held in trust by the Trustee to pay principal of, premium and interest on any Securities. Notwithstanding any provisions of this Indenture to the contrary, the obligations of the Company to compensate and indemnify the Trustee under this Section
      11.01(a) and Section 11.01(b) shall survive the resignation or removal of the Trustee, the termination of this Indenture and any satisfaction and discharge under Article XII. When the Trustee incurs expenses or renders services after an Event of
      Default specified in clause (e) or (f) of Section 7.01 occurs, the expenses and compensation for the services are intended to constitute expenses of administration under any applicable federal or state bankruptcy, insolvency or similar laws.

    

    

    (d)          The Trustee may execute any of the trusts or powers hereof and perform any duty hereunder either directly or by its agents and attorneys and shall not be responsible for any misconduct or negligence on the
      part of any agent or attorney appointed with due care by it hereunder.

    

    

    (e)          The Trustee shall not be responsible in any manner whatsoever for the correctness of the recitals herein or in the Securities (except its certificates of authentication thereon) contained, all of which are
      made solely by the Company; and the Trustee shall not be responsible or accountable in any manner whatsoever for or with respect to the validity or execution or sufficiency of this Indenture or of the Securities (except its certificates of
      authentication thereon), and the Trustee makes no representation with respect thereto, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations
      hereunder and that the statements made by it in a Statement of Eligibility on Form T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. The Trustee shall not be accountable for the use or application by
      the Company of any Securities, or the proceeds of any Securities, authenticated and delivered by the Trustee in conformity with the provisions of this Indenture.

    

    

    (f)           The Trustee may consult with counsel, investment bankers, accountants, or other professionals of its selection, and advice of counsel shall be full and complete authorization and protection in respect of
      any action taken or suffered by the Trustee hereunder in good faith and in accordance with such advice of counsel, investment banker, accountant, or other professional.

    

    

    (g)          The Trustee may rely upon the certificate of the Secretary or one of the Assistant Secretaries of the Company as to the adoption of any Board Resolution or resolution of the stockholders of the Company, and
      any request, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by, and whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to
      taking, suffering or omitting any action hereunder, the Trustee may rely upon, an Officer’s Certificate of the Company (unless other evidence in respect thereof be herein specifically prescribed).

    

    

    (h)          Before the Trustee acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good
      faith in reliance on such Officer’s Certificate or Opinion of Counsel.

    

    

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

    

    

    (j)            Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it
      hereunder except as otherwise agreed in writing with the Company.

    
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    (k)          Any action taken by the Trustee pursuant to any provision hereof at the request or with the consent of any Person who at the time is the Holder of any Security shall be conclusive and binding in respect of
      such Security upon all future Holders thereof or of any Security or Securities which may be issued for or in lieu thereof in whole or in part, whether or not such Security shall have noted thereon the fact that such request or consent had been made
      or given.

    

    

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

    

    

    (m)          The Trustee shall not be under any obligation to exercise any of the rights or powers vested in it by this Indenture at the request, order or direction of any of the Holders of the Securities, pursuant to
      any provision of this Indenture, unless one or more of the Holders of the Securities shall have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities which may be incurred by it therein or
      thereby.

    

    

    (n)          The Trustee shall not be liable for any action taken or omitted by it in good faith and believed by it to be authorized or within its discretion or within the rights or powers conferred upon it by this
      Indenture.

    

    

    (o)          The Trustee shall not be deemed to have knowledge or notice of any Default or Event of Default unless a Responsible Officer of the Trustee has received written notice from the Company or Holders of not less
      than 25% of the Outstanding Securities notify the Trustee thereof and such notice states that it is a notice of default.

    

    

    (p)          The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order,
      bond, debenture, note, other evidence of Indebtedness or other paper or document, but the Trustee, may, but shall not be required to, make further inquiry or investigation into such facts or matters as it may see fit.

    

    

    (q)          Any permissive right of the Trustee shall not be construed as a mandatory duty.

    

    

    (r)           The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder.

    

    

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

    

    

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

    

    

    (u)          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, any Agent;
      provided however, that (i) an Agent shall only be liable to extent of its gross negligence or willful misconduct; and (ii) in and during an Event of Default, only the Trustee, and not any Agent, shall be subject to the prudent person standard.

    
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    Section 11.02      Duties of Trustee.

    

    

    (a)          If one or more of the Events of Default specified in Section 7.01 with respect to the Securities of any series shall have happened, then, during the continuance thereof, the Trustee shall, with respect to
      such Securities, exercise such of the rights and powers vested in it by this Indenture, and shall use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such
      person’s own affairs.

    

    

    (b)          None of the provisions of this Indenture shall be construed as relieving the Trustee from liability for its own negligent action, negligent failure to act, or its own willful misconduct, except that,
      anything in this Indenture contained to the contrary notwithstanding,

    

    

    (i)            unless and until an Event of Default specified in Section 7.01 with respect to the Securities of any series shall have happened which at the time is continuing,

    

    

    (A)       the Trustee undertakes to perform such duties and only such duties with respect to the Securities of that series as are specifically set out in this Indenture, and no implied covenants or
      obligations shall be read into this Indenture against the Trustee, whose duties and obligations shall be determined solely by the express provisions of this Indenture; and

    

    

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

    

    

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

    

    

    (iii)            the Trustee shall not be liable to any Holder of Securities or to any other Person with respect to any action taken or omitted to be taken by it in good faith, in accordance with the
      direction of Securityholders given as provided in Section 7.06, relating to the time, method and place of conducting any proceeding for any remedy available to it or exercising any trust or power conferred upon it by this Indenture.

    

    

    (c)          None of the provisions of this Indenture shall require the Trustee to expend or risk its own funds or otherwise to 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.

    

    

    (d)          Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions
      of this Section 11.02.

    

    

    Section 11.03       Notice of Defaults. Within 90 days after the occurrence thereof, and if known to the Trustee, the Trustee shall give to the Holders of the Securities of a series notice of each Default or
      Event of Default with respect to the Securities of such series known to the Trustee, by transmitting such notice to Holders at their addresses as the same shall then appear on the Register of the Company, unless such Default shall have been cured or
      waived before the giving of such notice (the term “Default” being hereby defined to be the events specified in Section 7.01, which are, or after notice or lapse of time or both would become, Events of Default as defined in said Section). Except in
      the case of a Default or Event of Default in payment of the principal of, premium, if any, or interest on any of the Securities of such series when and as the same shall become payable, or to make any sinking fund payment as to Securities of the same
      series, the Trustee shall be protected in withholding such notice, if and so long as a Responsible Officer or Responsible Officers of the Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the
      Securities of such series.

    
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    Section 11.04      Eligibility; Disqualification.

    

    

    (a)          The Trustee shall at all times satisfy the requirements of TIA Section 310(a). The Trustee shall have a combined capital and surplus of at least $50 million as set forth in its most recent published annual
      report of condition, and shall have a Corporate Trust Office. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section 11.04, it shall resign immediately in the manner and with the effect hereinafter
      specified in this Article.

    

    

    (b)          The Trustee shall comply with TIA Section 310(b); provided, however, that there shall be excluded from the operation of TIA Section 310(b)(i) any indenture or indentures under which other securities or
      certificates of interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in TIA Section 310(b)(i) are met. If the Trustee has or shall acquire a conflicting interest within the
      meaning of Section 310(b) of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. If Section
      310(b) of the Trust Indenture Act is amended any time after the date of this Indenture to change the circumstances under which a Trustee shall be deemed to have a conflicting interest with respect to the Securities of any series or to change any of
      the definitions in connection therewith, this Section 11.04 shall be automatically amended to incorporate such changes.

    

    

    Section 11.05      Resignation and Notice; Removal. The Trustee, or any successor to it hereafter appointed, may at any time resign and be discharged of the trusts hereby created with respect to any one or more
      or all series of Securities by giving to the Company 30 days’ notice in writing. Such resignation shall take effect upon the appointment of a successor Trustee and the acceptance of such appointment by such successor Trustee. Any Trustee hereunder
      may be removed with respect to any series of Securities with thirty (30) days written notice by the filing with such Trustee and the delivery to the Company of an instrument or instruments in writing signed by the Holders of a majority in principal
      amount of the Securities of such series then Outstanding, specifying such removal and the date when it shall become effective.

    

    

    If at any time:

    

    

    (1)        the Trustee shall fail to comply with the provisions of TIA Section 310(b) after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six months
      (or, if it is a shorter period, the period since the initial issuance of the Securities of such series), or

    

    

    (2)       the Trustee shall cease to be eligible under Section 11.04 and shall fail to resign after written request therefor by the Company or by any Holder who has been a bona fide Holder of a Security for at least six
      months (or, if it is a shorter period, the period since the initial issuance of the Securities of such series), or

    

    

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

    

    

    then, in any such case, (i) the Company by written notice to the Trustee may remove the Trustee and appoint a successor Trustee with respect to all Securities, or (ii) subject to TIA Section 315(e), any Securityholder who has been a bona fide
      Holder of a Security for at least six months (or, if it is a shorter period, the period since the initial issuance of the Securities of such series) may, on behalf of himself and all others similarly situated, petition any court of competent
      jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees.

    

    

    In addition, the Company may remove the Trustee with respect to Securities of any series without cause if the Company gives written notice to the Trustee of such proposed removal at least three months in advance of the
      proposed effective date of such removal.

    
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    Upon its resignation or removal, any Trustee shall be entitled to the payment of reasonable compensation for the services rendered hereunder by such Trustee and to the payment of all reasonable expenses incurred
      hereunder and all moneys then due to it hereunder. The Trustee’s rights to indemnification provided in Section 11.01(b) shall survive its resignation or removal.

    

    

    Section 11.06      Successor Trustee by Appointment.

    

    

    (a)          In case at any time the Trustee shall resign, or shall be removed or if a vacancy exists in the office of the Trustee for any reason, with respect to Securities of any or all series, the Company shall
      promptly appoint a successor Trustee. However, if all or substantially all the assets of the Company shall be in the possession of one or more custodians or receivers lawfully appointed, or of trustees in bankruptcy or reorganization proceedings
      (including a trustee or trustees appointed under the provisions of the federal bankruptcy laws, as now or hereafter constituted), or of assignees for the benefit of creditors, such receivers, custodians, trustees or assignees, as the case may be,
      shall promptly appoint a successor Trustee with respect to the Securities of any or all series. Subject to the provisions of Sections 11.04 and 11.05, upon the appointment as aforesaid of a successor Trustee with respect to the Securities of any
      series, the Trustee with respect to the Securities of such series shall cease to be Trustee hereunder. After any such appointment other than by the Holders of Securities of any such series, the Person making such appointment shall forthwith cause
      notice thereof to be mailed to the Holders of Securities of such series at their addresses as the same shall then appear on the Register of the Company. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any
      way impair or affect the validity of such appointment.

    

    

    (b)          If any Trustee with respect to the Securities of any series shall resign or be removed and a successor Trustee shall not have been appointed by the Company or, if any successor Trustee so appointed shall not
      have accepted its appointment within 30 days after such appointment shall have been made, the resigning Trustee at the expense of the Company may apply to any court of competent jurisdiction for the appointment of a successor Trustee. If in any other
      case a successor Trustee shall not be appointed pursuant to the foregoing provisions of this Section 11.06 within three months after such appointment might have been made hereunder, the Holder of any Security of the applicable series or any retiring
      Trustee at the expense of the Company may apply to any court of competent jurisdiction to appoint a successor Trustee. Such court may thereupon, in any such case, after such notice, if any, as such court may deem proper and prescribe, appoint a
      successor Trustee.

    

    

    (c)          Any successor Trustee appointed hereunder with respect to the Securities of one or more series shall execute, acknowledge and deliver to its predecessor Trustee and to the Company, or to the receivers,
      trustees, assignees or court appointing it, as the case may be, an instrument accepting such appointment hereunder, and thereupon such successor Trustee, without any further act, deed or conveyance, shall become vested with all the authority, rights,
      powers, trusts, immunities, duties and obligations with respect to such series of such predecessor Trustee with like effect as if originally named as Trustee hereunder, and such predecessor Trustee, upon payment of its charges and disbursements then
      unpaid, shall thereupon become obligated to pay over, and such successor Trustee shall be entitled to receive, all moneys and properties held by such predecessor Trustee as Trustee hereunder with respect to the Securities of such series, subject
      nevertheless to its lien provided for in Section 11.01(a). Nevertheless, on the written request of the Company or of the successor Trustee or of the Holders of at least 10% in principal amount of the Securities of any such series then Outstanding,
      such predecessor Trustee, upon payment of its said charges and disbursements, shall execute and deliver an instrument transferring to such successor Trustee upon the trusts herein expressed all the rights, powers and trusts of such predecessor
      Trustee with respect to the Securities of such series and shall assign, transfer and deliver to the successor Trustee all moneys and properties held by such predecessor Trustee with respect to the Securities of such series, subject nevertheless to
      its lien provided for in Section 11.01(a); and, upon request of any such successor Trustee or the Company shall make, execute, acknowledge and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such
      successor Trustee all such authority, rights, powers, trusts, immunities, duties and obligations.

    
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    Section 11.07      Successor Trustee by Merger. Any Person into which the Trustee or any successor to it in the trusts created by this Indenture shall be merged or converted, or any Person with which it or any
      successor to it shall be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Trustee or any such successor to it shall be a party, or any Person to which the Trustee or any successor to it shall sell or
      otherwise transfer all or substantially all of the corporate trust business of the Trustee, shall be the successor Trustee under this Indenture without the execution or filing of any paper or any further act on the part of any of the parties hereto;
      provided that such Person shall be otherwise qualified and eligible under this Article. In case at the time such successor to the Trustee shall succeed to the trusts created by this Indenture with respect to one or more series of Securities, any of
      such Securities shall have been authenticated but not delivered by the Trustee then in office, any successor to such Trustee may adopt the certificate of authentication of any predecessor Trustee, and deliver such Securities so authenticated; and in
      case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor Trustee; and in all such cases
      such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have; provided, however, that the right to adopt the certificate of authentication of any
      predecessor Trustee or authenticate Securities in the name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation.

    

    

    Section 11.08      Right to Rely on Officer’s Certificate. Whenever in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or
      established prior to taking or suffering any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of negligence or willful misconduct on the part of the Trustee, be deemed to
      be conclusively proved and established by an Officer’s Certificate with respect thereto delivered to the Trustee, and such Officer’s Certificate, in the absence of negligence or willful misconduct on the part of the Trustee, shall be full warrant to
      the Trustee for any action taken, suffered or omitted by it under the provisions of this Indenture upon the faith thereof.

    

    

    Section 11.09      Appointment of Authenticating Agent. The Trustee may appoint an agent (the “Authenticating Agent”) acceptable to the Company to authenticate the Securities, and the Trustee shall give written
      notice of such appointment to all Holders of Securities of the series with respect to which such Authenticating Agent will serve. Unless limited by the terms of such appointment, any such Authenticating Agent may authenticate Securities whenever the
      Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by the Authenticating Agent. Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and
      obligatory for all purposes as if authenticated by the Trustee hereunder.

    

    

    Each Authenticating Agent shall at all times be a corporation organized and doing business and in good standing under the laws of the United States, any State thereof or the District of Columbia, authorized under such
      laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000 and subject to supervision or examination by Federal or State authority. If such corporation publishes reports of condition at least annually,
      pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Article XI, 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 shall cease to be eligible in accordance with the provisions of this Article XI, it shall resign immediately in the manner and with the effect specified in this
      Article XI.

    

    

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

    

    

    An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice
      thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this
      Section 11.09, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company and shall give written notice of such appointment to all Holders of Securities of the series with respect to which such Authenticating
      Agent will serve. 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 11.09.

    
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    The Company agrees to pay to each Authenticating Agent from time to time reasonable compensation for its services under this Section 11.09.

    

    

    Section 11.10      Communications by Securityholders with Other Securityholders. Holders of Securities may communicate pursuant to Section 312(b) of the Trust Indenture Act with other Holders with respect to
      their rights under this Indenture or the Securities. The Company, the Trustee, the Registrar and anyone else shall have the protection of Section 312(c) of the Trust Indenture Act with respect to such communications.

    

    

    ARTICLE XII

    

    

    SATISFACTION AND DISCHARGE; DEFEASANCE

    

    

    Section 12.01      Applicability of Article. The provisions of this Article shall be applicable to the Securities of all series issued pursuant to this Indenture, except as otherwise specified pursuant to Section
      3.01.

    

    

    Section 12.02      Satisfaction and Discharge of Indenture. This Indenture, with respect to the Securities of any series (if all series issued under this Indenture are not to be affected), shall, upon Company
      Order, cease to be of further effect (except as to any surviving rights of registration of transfer or exchange of such Securities herein expressly provided for and the rights of the Holders of the Securities of such series to receive, the principal
      of and premium, if any, and interest on such Securities as and when the same shall become due and payable and except as otherwise provided in the last paragraph of this Section 12.02), and the Trustee, at the expense of the Company, shall execute
      proper instruments acknowledging satisfaction and discharge of this Indenture with respect to the Securities of such series, when,

    

    

    (a)          either:

    

    

    (i)            all Securities of such series theretofore authenticated and delivered (other than (A) Securities that have been destroyed, lost or stolen and that have been replaced or paid as provided
      in Section 3.07 and (B) Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 6.03(e)) have
      been delivered to the Trustee for cancellation; or

    

    

    (ii)            all Securities of such series not theretofore delivered to the Trustee for cancellation,

    

    

    (A)        have become due and payable, or

    

    

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

    

    

    (C)        if redeemable at the option of the Company (including, without limitation, by operation of any mandatory sinking fund), have been called for redemption or 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 (A), (B) or (C) above, has irrevocably deposited or caused to be deposited with the Trustee funds in trust for the purpose an amount in cash in the Currency in which such Securities are
      payable (subject to Section 12.08) sufficient to pay and discharge the entire indebtedness on such Securities for principal and premium, if any, and interest to the date of such deposit (in the case of Securities that have become due and payable) or
      to the Stated Maturity thereof or, in the case of Securities of such series which have been or are to be called for redemption as contemplated by (C) above, the applicable Redemption Date, as the case may be, and including any mandatory sinking fund
      payments as and when the same shall become due and payable;

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

    

    

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

    

    

    Notwithstanding the satisfaction and discharge of this Indenture with respect to the Securities of any series, the obligations of the Company to the Trustee under Section 11.01, the provisions of Sections 3.04, 3.05, 3.06, 3.07, 3.10, 6.02 and
      6.03 and this Article XII, and, if the Securities of such series are to be redeemed prior to their Stated Maturity (including, without limitation, pursuant to a mandatory sinking fund), the provisions of Article IV hereof, and, if the Securities of
      such series are convertible into or exchangeable for other securities or property, the rights of the Holders of such Securities to convert or exchange, and the obligations of the Company to convert or exchange, such Securities into other securities
      or property, and, if money shall have been deposited with the Trustee pursuant to clause (a) of this Section, the obligations of the Trustee under Section 12.07 and Section 6.03(e) shall survive such satisfaction and discharge.

    

    

    Section 12.03    Defeasance and Covenant Defeasance upon Deposit of Moneys or U.S. Government Obligations. At the Company’s option, either (x) the Company shall be deemed to have been Discharged (as defined
      below) from its obligations with respect to Securities of any series on the first day after the applicable conditions set forth below have been satisfied or (y) the Company shall cease to be under any obligation to comply with any term, provision or
      condition set forth in Section 6.04 and Section 10.02 with respect to Securities of any series (and, if so specified pursuant to Section 3.01, any other restrictive covenant added for the benefit of such series pursuant to Section 3.01) (“covenant
      defeasance”) upon the satisfaction of the applicable conditions set forth below:

    

    

    (a)          the Company shall have deposited or caused to be deposited irrevocably with the Trustee as trust funds in trust, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of
      the Securities of such series (i) money in the Currency in which such Securities are payable in an amount, or (ii) U.S. Government Obligations (as defined below) that, through the payment of interest and principal in respect thereof in accordance
      with their terms, will provide, not later than one day before the due date of any payment, money in the Currency in which such Securities are payable in an amount, or (iii) a combination of (i) and (ii), sufficient (without consideration of any
      reinvestment of such principal and interest) to pay and discharge each installment of principal (including any mandatory sinking fund payments) of and premium, if any, and interest on, the Outstanding Securities of such series on the dates such
      installments of interest or principal and premium are due and, if the Securities of such series are to be called for redemption as described in clause (d) below, to pay and discharge the Redemption Price on the Securities called for redemption on the
      applicable Redemption Date;

    

    

    (b)          no Default with respect to the Securities of such series shall have occurred and be continuing on the date of such deposit (other than a Default resulting from the borrowing of funds and the grant of any
      related liens to be applied to such deposit) and, solely in the case of Discharge pursuant to clause (x) of the first paragraph of this Section 12.03, no Default with respect to the Securities of such series under either clause (e) or (f) of Section
      7.01 shall have occurred at any time during the period ending on and including the 91st day after the date of such deposit;

    

    

    (c)          the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that Holders of the Securities of such series will not recognize income, gain or loss for U.S. federal income tax purposes
      as a result of the Company’s exercise of its option under this Section and will be subject to federal income tax on the same amounts and in the same manner and at the same times as would have been the case if such option had not been exercised and,
      in the case of the Securities of such series being Discharged pursuant to clause (x) of the first paragraph of this Section 12.03, such Opinion of Counsel shall be based upon and accompanied by a ruling to that effect received by the Company from or
      published by the Internal Revenue Service;

    
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    (d)          if the monies or U.S. Government Obligations or combination thereof, as the case may be, deposited under clause (a) above are sufficient to pay the principal of and premium, if any, and interest on the
      Securities of such series (including, without limitation, any mandatory sinking fund payment) or any portion thereof to be redeemed on a particular Redemption Date (including, without limitation, pursuant to a mandatory sinking fund), the Company
      shall have given to the Trustee irrevocable instructions to redeem such Securities on such date and shall have made arrangements satisfactory to the Trustee for the giving of notice of such redemption by the Trustee in the name, and at the expense,
      of the Company; and

    

    

    (e)          the Company shall have delivered to the Trustee an Officers Certificate and an Opinion of Counsel, each stating that all conditions precedent to such action under this Indenture have been complied with.

    

    

    “Discharged” means, with respect to the Securities of any series, that the Company shall be deemed to have paid and discharged the entire indebtedness represented by, and obligations under, the Securities of such series
      and to have satisfied all the obligations under this Indenture relating to the Securities of such series (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following, all of which
      shall survive such Discharge and remain in full force and effect with respect to the Securities of such series: (A) the rights of Holders of Securities of such series to receive, from the trust fund described in clause (a) above, payment of the
      principal of and premium, if any, and interest on such Securities when such payments are due, (B) Sections 3.04, 3.05, 3.06, 3.07, 3.10, 6.02 and 6.03, (C) if the Securities of such series are to be redeemed prior to their Stated Maturity, the
      provisions of Article IV hereof, (D) if the Securities of such series are convertible into or exchangeable for other securities or property, the rights of the Holders of such Securities to convert or exchange, and the obligations of the Company to
      convert or exchange, such Securities into such other securities or property, (E) the provisions of this Article XII and (F) the rights, powers, trusts, duties and immunities of the Trustee hereunder.

    

    

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

    

    

    Section 12.04    Repayment to Company. The Trustee and any Paying Agent shall promptly pay to the Company (or to its designee) upon delivery of a Company Order any moneys or U.S. Government Obligations deposited
      pursuant to Sections 12.02 and 12.03 with respect to the Securities of any series and held by them that are in excess of the monies and/or U.S. Government Obligations that were required to effect the satisfaction and discharge, covenant defeasance or
      Discharge, as applicable, with respect to the Securities of such series, including any such moneys or obligations held by the Trustee under any escrow trust agreement entered into pursuant to Section 12.06. The provisions of Section 6.03(e) shall
      apply to any money held by the Trustee or any Paying Agent under this Article.

    

    

    Section 12.05    Indemnity for U.S. Government Obligations. The Company shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the deposited U.S. Government
      Obligations or the principal or interest received on such U.S. Government Obligations.

    

    

    Section 12.06    Deposits to Be Held in Escrow. Any deposits with the Trustee referred to in Section 12.03 above shall be irrevocable (except to the extent provided in Sections 12.04 and 6.03(e)) and shall be
      made under the terms of an escrow trust agreement. If any Outstanding Securities of a series are to be redeemed prior to their Stated Maturity, whether pursuant to any optional redemption provisions or in accordance with any mandatory or optional
      sinking fund requirement, the applicable escrow trust agreement shall provide therefor and the Company shall make such arrangements as are satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the
      expense, of the Company.

    
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    Section 12.07    Application of Trust Money.

    

    

    (a)          Neither the Trustee nor any other Paying Agent shall be required to pay interest on any moneys deposited pursuant to the provisions of this Indenture, except such as it shall agree with the Company in
      writing to pay thereon.

    

    

    (b)          Subject to Section 6.03(e), any monies and U.S. Government Obligations which at any time shall be deposited by the Company or on its behalf with the Trustee or any other Paying Agent for the purpose of
      paying the principal of, premium, if any, and interest on any of the Securities shall be and are hereby assigned, transferred and set over to the Trustee or such other Paying Agent in trust for the respective Holders of the Securities for the purpose
      for which such moneys shall have been deposited, and such funds shall be applied by the Trustee or Paying Agent in accordance with the provisions of such Securities and this Indenture to the payment of all sums due and to become due on such
      Securities in respect of principal and premium, if any, and interest; but such moneys need not be segregated from other funds except to the extent required by law. Anything in this Indenture to the contrary notwithstanding, neither the Company nor
      any of its Subsidiaries nor any of their respective Affiliates may act as Paying Agent for any Securities in respect of which money or U.S. Government Obligations have been deposited pursuant to this Article XII.

    

    

    Section 12.08    Deposits of Non-U.S. Currencies. Notwithstanding the foregoing provisions of this Article, if the Securities of any series are payable in a Currency other than U.S. Dollars, the Currency or the
      nature of the government obligations to be deposited with the Trustee under the foregoing provisions of this Article shall be as set forth in a Board Resolution, a Company Order or in one or more supplemental indentures hereto.

    

    

    ARTICLE XIII

    

    

    IMMUNITY OF CERTAIN PERSONS

    

    

    Section 13.01    No Personal Liability. No recourse shall be had for the payment of the principal of, or the premium, if any, or interest on, any Security or for any claim based thereon or otherwise in respect
      thereof or of the Indebtedness represented thereby, or upon any obligation, covenant or agreement of this Indenture, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any successor
      corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitutional provision, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed
      and understood that this Indenture and the Securities are solely corporate obligations, and that no personal liability whatsoever shall attach to, or be incurred by, any incorporator, stockholder, officer or director, as such, past, present or
      future, of the Company or of any successor corporation, either directly or 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,
      promises or agreements contained in this Indenture or in any of the Securities, or to be implied herefrom or therefrom, and that all liability, if any, of that character against every such incorporator, stockholder, officer and director is, by the
      acceptance of the Securities and as a condition of, and as part of the consideration for, the execution of this Indenture and the issue of the Securities expressly waived and released.

    

    

    ARTICLE XIV

    

    

    SUPPLEMENTAL INDENTURES

    

    

    Section 14.01    Without Consent of Securityholders. Except as otherwise provided as contemplated by Section 3.01 with respect to any series of Securities, the Company and the Trustee, at any time and from time
      to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any one or more of or all the following purposes:

    

    

    (a)          to add to the covenants and agreements of the Company, to be observed thereafter and during the period, if any, in such supplemental indenture or indentures expressed, and to add Events of Default, in each
      case for the protection or benefit of the Holders of all or any series of the Securities (and if such covenants, agreements and Events of Default are to be for the benefit of fewer than all series of Securities, stating that such covenants,
      agreements and Events of Default are expressly being included for the benefit of such series as shall be identified therein), or to surrender any right or power herein conferred upon the Company;

    
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    (b)          to delete or modify any Events of Default with respect to any series of the Securities, the form and terms of which are being first established pursuant to such supplemental indenture as permitted in Section
      3.01 (and, if any such Event of Default is applicable to fewer than all such series of the Securities, specifying the series to which such Event of Default is applicable), and to specify the rights and remedies of the Trustee and the Holders of such
      Securities in connection therewith;

    

    

    (c)          to add to or change any of the provisions of this Indenture to provide, change or eliminate any restrictions on the payment of principal of or premium, if any, on Securities; provided that any such action
      shall not adversely affect the interests of the Holders of Securities of any series in any material respect;

    

    

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

    

    

    (e)          to evidence the succession of another entity to the Company, or successive successions, and the assumption by such successor of the covenants and obligations of the Company contained in the Securities of one
      or more series and in this Indenture or any supplemental indenture;

    

    

    (f)           to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to one or more series of Securities and to add to or change any of the provisions of this Indenture as
      shall be necessary for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements of Section 11.06(c);

    

    

    (g)          to secure any series of Securities;

    

    

    (h)          to evidence any changes to this Indenture pursuant to Sections 11.05, 11.06 or 11.07 hereof as permitted by the terms thereof;

    

    

    (i)            to cure any ambiguity or inconsistency or to correct or supplement any provision contained herein or in any indenture supplemental hereto which may be mistaken, defective or inconsistent with any other
      provision contained herein or in any supplemental indenture or to conform the terms hereof, as amended and supplemented, that are applicable to the Securities of any series to the description of the terms of such Securities in the offering
      memorandum, prospectus supplement or other offering document applicable to such Securities at the time of initial sale thereof;

    

    

    (j)           to add to or change or eliminate any provision of this Indenture as shall be necessary or desirable in accordance with any amendments to the Trust Indenture Act;

    

    

    (k)          to add guarantors or co-obligors with respect to any series of Securities or to release guarantors from their guarantees of Securities in accordance with the terms of the applicable series of Securities;

    

    

    (l)           to make any change in any series of Securities that does not adversely affect in any material respect the rights of the Holders of such Securities;

    

    

    (m)         to provide for uncertificated securities in addition to certificated securities;

    

    

    (n)          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; provided 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;

    
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    (o)          to prohibit the authentication and delivery of additional series of Securities; or

    

    

    (p)          to establish the form and terms of Securities of any series as permitted in Section 3.01, or to authorize the issuance of additional Securities of a series previously authorized or to add to the conditions,
      limitations or restrictions on the authorized amount, terms or purposes of issue, authentication or delivery of the Securities of any series, as herein set forth, or other conditions, limitations or restrictions thereafter to be observed.

    

    

    Subject to the provisions of Section 14.03, the Trustee is authorized to join with the Company in the execution of any such supplemental indenture, to make the further agreements and stipulations which may be therein
      contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property or assets thereunder.

    

    

    Any supplemental indenture authorized by the provisions of this Section 14.01 may be executed by the Company and the Trustee without the consent of the Holders of any of the Securities at the time Outstanding.

    

    

    Section 14.02    With Consent of Securityholders; Limitations.

    

    

    (a)          With the consent of the Holders (evidenced as provided in Article VIII) of a majority in aggregate principal amount of the Outstanding Securities of each series affected by such supplemental indenture voting
      separately, the Company and the Trustee may, from time to time and at any time, enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any provisions of this
      Indenture or of modifying in any manner the rights of the Holders of the Securities of such series to be affected; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected
      thereby,

    

    

    (i)            extend the Stated Maturity of the principal of, or any installment of interest on, any Security, or reduce the principal amount thereof or the interest thereon or any premium payable
      thereon, or extend the Stated Maturity of, or change the place of payment where, or the Currency in which the principal of and premium, if any, or interest on such Security is denominated or payable, or reduce the amount of the principal of an
      Original Issue Discount Security that would be due and payable upon acceleration of the Maturity thereof pursuant to Section 7.02, change the priority in right of payment of any Security or, in the case of any subordinated Security, the definition of
      Senior Indebtedness applicable thereto, or impair the right to institute suit for the enforcement of any payment on or after the Stated Maturity thereof (or, in the case of redemption, on or after the Redemption Date), or materially adversely affect
      the economic terms of any right to convert or exchange any Security as may be provided pursuant to Section 3.01; or

    

    

    (ii)            reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any 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

    

    

    (iii)          modify any of the provisions of this Section, Section 7.06 or Section 6.06, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be
      modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the
      Trustee” and concomitant changes in this Section and Section 6.06, or the deletion of this proviso, in accordance with the requirements of Sections 11.06 and 14.01(d).

    
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    (b)          A supplemental indenture that changes or eliminates any 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.

    

    

    (c)          It shall not be necessary for the consent of the Securityholders under this Section 14.02 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent
      shall approve the substance thereof.

    

    

    (d)          The Company may set a record date for purposes of determining the identity of the Holders of each series of Securities entitled to give a written consent or waive compliance by the Company as authorized or
      permitted by this Section. Such record date shall not be more than 30 days prior to the first solicitation of such consent or waiver or the date of the most recent list of Holders furnished to the Trustee prior to such solicitation pursuant to
      Section 312 of the Trust Indenture Act.

    

    

    (e)          Promptly after the execution by the Company and the Trustee of any supplemental indenture pursuant to the provisions of this Section 14.02, the Company shall mail a notice, setting forth in general terms the
      substance of such supplemental indenture, to the Holders of Securities at their addresses as the same shall then appear in the Register of the Company. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any
      way impair or affect the validity of any such supplemental indenture.

    

    

    Section 14.03    Trustee Protected(a). Upon the request of the Company, accompanied by the Officer’s Certificate and Opinion of Counsel required by Section 16.01, each stating that such supplemental indenture and
      the actions taken therein is authorized or permitted by the terms of this Indenture and the Notes, and evidence reasonably satisfactory to the Trustee of consent of the Holders if the supplemental indenture is to be executed pursuant to Section
      14.02, the Trustee shall join with the Company in the execution of said supplemental indenture unless said supplemental indenture affects the Trustee’s own rights, protections, duties, liabilities or immunities under this Indenture or otherwise, in
      which case the Trustee may in its discretion, but shall not be obligated to, enter into said supplemental indenture. The Trustee shall be fully protected in relying upon such Officer’s Certificate and Opinion of Counsel.

    

    

    Section 14.04    Effect of Execution of Supplemental Indenture. Upon the execution of any supplemental indenture pursuant to the provisions of this Article XIV, this Indenture shall be deemed to be modified and
      amended in accordance therewith and, except as herein otherwise expressly provided, the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company and the Holders of all of the
      Securities or of the Securities of any series affected, as the case may be, shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and conditions of any such
      supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes.

    

    

    Section 14.05    Notation on or Exchange of Securities. Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this Article may bear a
      notation in the form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company or the Trustee shall so determine, new Securities so modified as to conform, in the opinion of the Trustee and the Board of
      Directors of the Company, to any modification of this Indenture contained in any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for the Securities then Outstanding in
      equal aggregate principal amounts, and such exchange shall be made without cost to the Holders of the Securities.

    

    

    Section 14.06    Conformity with TIA. Every supplemental indenture executed pursuant to the provisions of this Article shall conform to the requirements of the Trust Indenture Act as then in effect.

    
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    ARTICLE XV

    

    

    SUBORDINATION OF SECURITIES

    

    

    Section 15.01    Agreement to Subordinate. In the event a series of Securities is designated as subordinated pursuant to Section 3.01, and except as otherwise provided in a Company Order or in one or more
      indentures supplemental hereto, the Company, for itself, its successors and assigns, covenants and agrees, and each Holder of Securities of such series by his, her or its acceptance thereof, likewise covenants and agrees, that the payment of the
      principal of (and premium, if any) and interest, if any, on each and all of the Securities of such series is hereby expressly subordinated, to the extent and in the manner hereinafter set forth, in right of payment to the prior payment in full of all
      Senior Indebtedness. In the event a series of Securities is not designated as subordinated pursuant to Section 3.01(s), this Article XV shall have no effect upon the Securities.

    

    

    Section 15.02    Distribution on Dissolution, Liquidation and Reorganization; Subrogation of Securities. Subject to Section 15.01, upon any distribution of assets of the Company upon any dissolution, winding up,
      liquidation or reorganization of the Company, whether in bankruptcy, insolvency, reorganization or receivership proceedings or upon an assignment for the benefit of creditors or any other marshalling of the assets and liabilities of the Company or
      otherwise (subject to the power of a court of competent jurisdiction to make other equitable provision reflecting the rights conferred in this Indenture upon the Senior Indebtedness and the holders thereof with respect to the Securities and the
      holders thereof by a lawful plan of reorganization under applicable bankruptcy law):

    

    

    (a)          the holders of all Senior Indebtedness shall be entitled to receive payment in full of the principal thereof (and premium, if any) and interest due thereon before the Holders of the Securities are entitled
      to receive any payment upon the principal (or premium, if any) or interest, if any, on Indebtedness evidenced by the Securities; and

    

    

    (b)          any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to which the Holders of the Securities or the Trustee would be entitled except for the
      provisions of this Article XV shall be paid by the liquidation trustee or agent or other Person making such payment or distribution, whether a trustee in bankruptcy, a receiver or liquidating trustee or otherwise, directly to the holders of Senior
      Indebtedness or their representative or representatives or to the trustee or trustees under any indenture under which any instruments evidencing any of such Senior Indebtedness may have been issued, ratably according to the aggregate amounts
      remaining unpaid on account of the principal of (and premium, if any) and interest on the Senior Indebtedness held or represented by each, to the extent necessary to make payment in full of all Senior Indebtedness remaining unpaid, after giving
      effect to any concurrent payment or distribution to the holders of such Senior Indebtedness; and

    

    

    (c)          in the event that, notwithstanding the foregoing, any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities prohibited by the foregoing, shall be
      received by the Trustee or the Holders of the Securities before all Senior Indebtedness is paid in full, such payment or distribution shall be paid over, upon written notice to a Responsible Officer of the Trustee, to the holder of such Senior
      Indebtedness or his, her or its representative or representatives or to the trustee or trustees under any indenture under which any instrument evidencing any of such Senior Indebtedness may have been issued, ratably as aforesaid, as calculated by the
      Company, for application to payment of all Senior Indebtedness remaining unpaid until all such Senior Indebtedness shall have been paid in full, after giving effect to any concurrent payment or distribution to the holders of such Senior Indebtedness.

    

    

    (d)          Subject to the payment in full of all Senior Indebtedness, the Holders of the Securities shall be subrogated to the rights of the holders of Senior Indebtedness (to the extent that distributions otherwise
      payable to such holder have been applied to the payment of Senior Indebtedness) to receive payments or distributions of cash, property or securities of the Company applicable to Senior Indebtedness until the principal of (and premium, if any) and
      interest, if any, on the Securities shall be paid in full and no such payments or distributions to the Holders of the Securities of cash, property or securities otherwise distributable to the holders of Senior Indebtedness shall, as between the
      Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Securities be deemed to be a payment by the Company to or on account of the Securities. It is understood that the provisions of this Article XV are and are
      intended solely for the purpose of defining the relative rights of the Holders of the Securities, on the one hand, and the holders of the Senior Indebtedness, on the other hand. Nothing contained in this Article XV or elsewhere in this Indenture or
      in the Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Securities, the obligation of the Company, which is unconditional and absolute, to pay to
      the Holders of the Securities the principal of (and premium, if any) and interest, if any, on the Securities as and when the same shall become due and payable in accordance with their terms, or to affect the relative rights of the Holders of the
      Securities and creditors of the Company other than the holders of Senior Indebtedness, nor shall anything herein or in the Securities prevent the Trustee or the Holder of any Security from exercising all remedies otherwise permitted by applicable law
      upon default under this Indenture, subject to the rights, if any, under this Article XV of the holders of Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. Upon any payment or
      distribution of assets of the Company referred to in this Article XV, the Trustee, subject to the provisions of Section 15.06, shall be entitled to conclusively rely upon a certificate of the liquidating trustee or agent or other person making any
      distribution to the Trustee for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or
      amounts paid or distributed thereof and all other facts pertinent thereto or to this Article XV.

    
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    Section 15.03    No Payment on Securities in Event of Default on Senior Indebtedness. Subject to Section 15.01, no payment by the Company on account of principal (or premium, if any), sinking funds or interest,
      if any, on the Securities shall be made at any time if: (i) a default on Senior Indebtedness exists that permits the holders of such Senior Indebtedness to accelerate its maturity and (ii) the default is the subject of judicial proceedings or the
      Company has received notice of such default. The Company may resume payments on the Securities when full payment of amounts then due for principal (premium, if any), sinking funds and interest on Senior Indebtedness has been made or duly provided for
      in money or money’s worth.

    

    

    In the event that, notwithstanding the foregoing, any payment shall be received by the Trustee when such payment is prohibited by the preceding paragraph of this Section 15.03, such payment shall be held in trust for the
      benefit of, and shall be paid over or delivered to, the holders of such Senior Indebtedness or their respective representatives, or to the trustee or trustees under any indenture pursuant to which any of such Senior Indebtedness may have been issued,
      as their respective interests may appear, as calculated by the Company, but only to the extent that the holders of such Senior Indebtedness (or their representative or representatives or a trustee) notify the Trustee in writing within 90 days of such
      payment of the amounts then due and owing on such Senior Indebtedness and only the amounts specified in such notice to the Trustee shall be paid to the holders of such Senior Indebtedness.

    

    

    Section 15.04    Payments on Securities Permitted. Subject to Section 15.01, nothing contained in this Indenture or in any of the Securities shall (a) affect the obligation of the Company to make, or prevent the
      Company from making, at any time except as provided in Sections 15.02 and 15.03, payments of principal of (or premium, if any) or interest, if any, on the Securities or (b) prevent the application by the Trustee of any moneys or assets deposited with
      it hereunder to the payment of or on account of the principal of (or premium, if any) or interest, if any, on the Securities, unless a Responsible Officer of the Trustee shall have received at its Corporate Trust Office written notice of any fact
      prohibiting the making of such payment from the Company or from the holder of any Senior Indebtedness or from the trustee for any such holder, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness or of the authority
      of such trustee more than two Business Days prior to the date fixed for such payment.

    

    

    Section 15.05    Authorization of Securityholders to Trustee to Effect Subordination. Subject to Section 15.01, each Holder of Securities by his acceptance thereof authorizes and directs the Trustee on his, her
      or its behalf to take such action as may be necessary or appropriate to effectuate the subordination as provided in this Article XV and appoints the Trustee his attorney-in-fact for any and all such purposes.

    

    

    Section 15.06    Notices to Trustee. The Company shall give prompt written notice to a Responsible Officer of the Trustee of any fact known to the Company that would prohibit the making of any payment of monies
      or assets to or by the Trustee in respect of the Securities of any series pursuant to the provisions of this Article XV. Subject to Section 15.01, notwithstanding the provisions of this Article XV or any other provisions of this Indenture, neither
      the Trustee nor any Paying Agent (other than the Company) shall be charged with knowledge of the existence of any Senior Indebtedness or of any fact which would prohibit the making of any payment of moneys or assets to or by the Trustee or such
      Paying Agent, unless and until a Responsible Officer of the Trustee or such Paying Agent shall have received (in the case of a Responsible Officer of the Trustee, at the Corporate Trust Office of the Trustee) written notice thereof from the Company
      or from the holder of any Senior Indebtedness or from the trustee for any such holder, together with proof satisfactory to the Trustee of such holding of Senior Indebtedness or of the authority of such trustee and, prior to the receipt of any such
      written notice, the Trustee shall be entitled in all respects conclusively to presume that no such facts exist; provided, however, that if at least five Business Days prior to the date upon which by the terms hereof any such moneys or assets may
      become payable for any purpose (including, without limitation, the payment of either the principal (or premium, if any) or interest, if any, on any Security) a Responsible Officer of the Trustee shall not have received with respect to such moneys or
      assets the notice provided for in this Section 15.06, then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive such moneys or assets and to apply the same to the purpose for which
      they were received, and shall not be affected by any notice to the contrary which may be received by it within two Business Days prior to such date. The Trustee shall be entitled to rely on the delivery to it of a written notice by a Person
      representing himself to be a holder of Senior Indebtedness (or a trustee on behalf of such holder) to establish that such a notice has been given by a holder of Senior Indebtedness or a trustee on behalf of any such holder. In the event that the
      Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to this Article XV, the Trustee may request such
      Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts
      pertinent to the rights of such Person under this Article XV and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment.

    
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    Section 15.07    Trustee as Holder of Senior Indebtedness. Subject to Section 15.01, the Trustee in its individual capacity shall be entitled to all the rights set forth in this Article XV in respect of any
      Senior Indebtedness at any time held by it to the same extent as any other holder of Senior Indebtedness and nothing in this Indenture shall be construed to deprive the Trustee of any of its rights as such holder. Nothing in this Article XV shall
      apply to claims of, or payments to, the Trustee under or pursuant to Sections 7.05 or 11.01.

    

    

    Section 15.08    Modifications of Terms of Senior Indebtedness. Subject to Section 15.01, any renewal or extension of the time of payment of any Senior Indebtedness or the exercise by the holders of Senior
      Indebtedness of any of their rights under any instrument creating or evidencing Senior Indebtedness, including, without limitation, the waiver of default thereunder, may be made or done all without notice to or assent from the Holders of the
      Securities or the Trustee. To the extent permitted by applicable law, no compromise, alteration, amendment, modification, extension, renewal or other change of, or waiver, consent or other action in respect of, any liability or obligation under or in
      respect of, or of any of the terms, covenants or conditions of any indenture or other instrument under which any Senior Indebtedness is outstanding or of such Senior Indebtedness, whether or not such release is in accordance with the provisions of
      any applicable document, shall in any way alter or affect any of the provisions of this Article XV or of the Securities relating to the subordination thereof.

    

    

    Section 15.09    Reliance on Judicial Order or Certificate of Liquidating Agent. Subject to Section 15.01, upon any payment or distribution of assets of the Company referred to in this Article XV, the Trustee and
      the Holders of the Securities shall be entitled to conclusively rely upon any order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or
      similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, liquidating trustee, custodian, receiver, assignee for the benefit of creditors, agent or other person making such payment or distribution, delivered to the Trustee
      or to the Holders of Securities, for the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holders of Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the
      amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article XV.

    

    

    Section 15.10    Satisfaction and Discharge; Defeasance and Covenant Defeasance. Subject to Section 15.01, amounts and U.S. Government Obligations deposited in trust with the Trustee pursuant to and in accordance
      with Article XII and not, at the time of such deposit, prohibited to be deposited under Sections 15.02 or 15.03 shall not be subject to this Article XV.

    

    

    Section 15.11    Trustee Not Fiduciary for Holders of Senior Indebtedness. With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or observe only such of its covenants and
      obligations as are specifically set forth in this Article XV, and no implied covenants or obligations with respect to the holders of Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee shall not be deemed to owe any
      fiduciary duty to the holders of Senior Indebtedness. The Trustee shall not be liable to any such holder if it shall pay over or distribute to or on behalf of Holders of Securities or the Company, or any other Person, moneys or assets to which any
      holder of Senior Indebtedness shall be entitled by virtue of this Article XV or otherwise.

    
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    ARTICLE XVI

    

    

    MISCELLANEOUS PROVISIONS

    

    

    Section 16.01    Certificates and Opinions as to Conditions Precedent.

    

    

    (a)          Upon any request or application by the Company to the Trustee to take any action under any of the provisions of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that
      all conditions precedent, 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 have been complied with;
      provided, that for the avoidance of doubt, no more than one Officer’s Certificate and one Opinion of Counsel shall be required per proposed action.

    

    

    (b)          Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition or covenant provided for in this Indenture (other than the certificates
      provided pursuant to Section 6.05 of this Indenture) shall include (i) a statement that the Person giving such certificate or opinion has read such covenant or condition; (ii) 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; (iii) a statement that, in the view or opinion of such Person, he or she has made such examination or investigation as is necessary to enable such
      Person to express an informed view or opinion as to whether or not such covenant or condition has been complied with; and (iv) a statement as to whether or not, in the view or opinion of such Person, such condition or covenant has been complied with.

    

    

    (c)          Any certificate, statement or opinion of counsel may be based, insofar as it relates to factual matters, upon a certificate, statement 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, statement or opinion or representations
      with respect to such matters are erroneous.

    

    

    (d)          Any certificate, statement or opinion of an officer of the Company or of counsel to the Company may be based, insofar as it relates to accounting matters, upon a certificate or opinion of, or representations
      by, an accountant or firm of accountants, unless such officer or counsel, as the case may be, knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the accounting matters upon
      which his or her certificate, statement or opinion may be based are erroneous. Any certificate or opinion of any firm of independent registered public accountants filed with the Trustee shall contain a statement that such firm is independent.

    

    

    (e)          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.

    

    

    (f)           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 16.02    Trust Indenture Act Controls. If and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by, or another provision included in this Indenture
      which is required to be included in this Indenture by any of the provisions of Sections 310 to 318, inclusive, of the Trust Indenture Act, such imposed duties or incorporated provision shall control.

    
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    Section 16.03    Notices to the Company and Trustee. Any notice or demand authorized by this Indenture to be made upon, given or furnished to, or filed with, the Company or the Trustee shall be sufficiently made,
      given, furnished or filed for all purposes if it shall be mailed or delivered to:

    

    

    (a)          the Company, at [          ], or at such other address or email address as may have been furnished in writing to the Trustee by the Company.

    

    

    (b)          the Trustee, at the Corporate Trust Office of the Trustee, Attention:[          ], with a copy sent to the addresses in the definition of “Corporate Trust Office”, or at such other address or email address
      as may have been furnished in writing to the Company by Trustee.

    

    

    Any such notice, demand or other document shall be in the English language.

    

    

    Section 16.04    Notices to Securityholders; Waiver. Any notice required or permitted to be given to Securityholders shall be sufficiently given (unless otherwise herein expressly provided),

    

    

    (a)          if to Holders, if given in writing by first class mail, postage prepaid, to such Holders at their addresses as the same shall appear on the Register of the Company; provided,
      that in the event of suspension of regular mail service or by reason of any other cause it shall be impracticable to give notice by mail, then such notification as shall be given with the approval of the Trustee shall constitute sufficient notice for
      every purpose hereunder; or

    

    

    (b)          If a series of Securities has been issued in the form of one or more Global Securities through DTC as Depositary, notice may be provided with respect to such series of Securities by delivery of such notice
      to DTC for posting through its “Legal Notice Service” (LENS) or a successor system thereof.

    

    

    Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of
      such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance on such waiver. In any case where notice to Holders is given by mail;
      neither the failure to mail such notice nor any defect in any notice so mailed to any particular Holder shall affect the sufficiency of such notice with respect to other Holders, and any notice that is mailed in the manner herein provided shall be
      conclusively presumed to have been duly given. In any case where notice to Holders is given by publication, any defect in any notice so published as to any particular Holder shall not affect the sufficiency of such notice with respect to other
      Holders, and any notice that is published in the manner herein provided shall be conclusively presumed to have been duly given.

    

    

    Section 16.05    Legal Holiday. Unless otherwise specified pursuant to Section 3.01, in any case where any Interest Payment Date, Redemption Date or Maturity of any Security of any series shall not be a Business
      Day at the location of the Corporate Trust Office or any Place of Payment for the Securities of that series, then payment of principal and premium, if any, or interest 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 such Interest Payment Date, Redemption Date or Maturity and no interest shall accrue on such payment for the period from and after such Interest
      Payment Date, Redemption Date or Maturity, as the case may be, to such Business Day if such payment is made or duly provided for on such Business Day.

    

    

    Section 16.06    Effects 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 16.07    Successors and Assigns. All covenants and agreements in this Indenture by the parties hereto shall bind their respective successors and assigns and inure to the benefit of their permitted
      successors and assigns, whether so expressed or not.

    

    

    Section 16.08    Separability Clause. In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
      shall not in any way be affected or impaired thereby.

    
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    Section 16.09    Benefits of Indenture. Nothing in this Indenture expressed and nothing that may be implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or to give to, any
      Person or corporation other than the parties hereto and their successors and the Holders of the Securities any benefit or any right, remedy or claim under or by reason of this Indenture or any covenant, condition, stipulation, promise or agreement
      hereof, and all covenants, conditions, stipulations, promises and agreements in this Indenture contained shall be for the sole and exclusive benefit of the parties hereto and their successors and of the Holders of the Securities.

    

    

    Section 16.10    Counterparts Originals. The parties may sign any number of copies of this Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.  The exchange
      of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture and signature pages for
      all purposes.

    

    

    Section 16.11    Governing Law; Waiver of Trial by Jury. This Indenture and the Securities will be governed by and construed in accordance with the laws of the state of New York.

    

    

    EACH PARTY HERETO, AND EACH HOLDER OF A SECURITY BY ACCEPTANCE THEREOF, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL 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 AND THE TRANSACTIONS CONTEMPLATED HEREBY.

    

    

    Section 16.12    Agent for Service; Submission to Jurisdiction; Waiver of Immunities. By the execution and delivery of this Indenture, the Company (i) irrevocably designates and appoints, and acknowledges that it
      has irrevocably designated and appointed, as its authorized agent upon which process may be served in any suit, action or proceeding arising out of or relating to the Securities or this Indenture that may be instituted in any United States federal or
      New York state court in The City of New York or brought under federal or state securities laws or brought by the Trustee (whether in its individual capacity or in its capacity as Trustee hereunder) or, subject to Section 7.07, any Holder of
      Securities in any United States federal or New York state court in The City of New York, (ii) submits to the non-exclusive jurisdiction of any such court in any such suit, action or proceeding, and (iii) agrees that service of process upon [____] and
      written notice of said service to the Company (in accordance with Section 16.03 hereof), shall be deemed in every respect effective service of process upon the Company in any such suit, action or proceeding. The Company further agrees to take any and
      all action, including the execution and filing of any and all such documents and instruments, as may be necessary to continue such designation and appointment of [___] in full force and effect so long as any of the Securities shall be Outstanding or
      any amounts shall be payable in respect of any Securities or coupons.

    

    

    The Company irrevocably and unconditionally waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of venue of any such action, suit or proceeding in any such court
      or any appellate court with respect thereto and irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of any such action, suit or proceeding in any such court.

    

    

    To the extent that the Company has or hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service of notice, attachment prior to judgment, attachment in aid of
      execution, execution or otherwise) with respect to itself or its property, it hereby irrevocably waives such immunity in respect of its obligations under this Indenture and the Securities, to the extent permitted by law.

    

    

    Section 16.13    U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot Act, the Trustee, like all financial institutions and in order to help fight the
      funding of terrorism and money laundering, is required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account with the Trustee. The parties to this Indenture agree
      that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.

    
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    Section 16.14    FATCA. In order to comply with applicable tax laws (inclusive of rules, regulations and interpretations promulgated by competent authorities) related to this Indenture in effect from time to time
      (“Applicable FATCA Law”) that a foreign financial institution, issuer, trustee, paying agent or other party is or has agreed to be subject to, the Issuer agrees (i) to provide the Trustee sufficient information about the parties and/or transactions
      (including any modification to the terms of such transactions) so the Trustee can determine whether it has tax related obligations under Applicable FATCA Law, (ii) that the Trustee shall be entitled to make any withholding or deduction from payments
      to the extent necessary to comply with Applicable FATCA Law for which the Trustee shall not have any liability and (iii) to hold harmless the Trustee for any losses it may suffer due to the actions it takes to comply with Applicable FATCA Law. The
      terms of this section shall survive the termination of this Indenture.

    

    

    Section 16.15    Electronic Means. The Trustee shall have the right to accept and act upon instructions, including funds transfer instructions (“Instructions”) given pursuant to this Indenture and related
      documents and delivered using Electronic Means; provided, however, that the Issuer and any other obligor, as applicable, shall provide to the Trustee an incumbency certificate listing officers with the authority to provide such Instructions
      (“Authorized Officers”) and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Issuer and any other obligor, as applicable, whenever a person is to be added or deleted from the listing. If
      the Issuer and any other obligor, as applicable, elects to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the Trustee’s understanding of such Instructions shall be deemed
      controlling. The Company and any obligor understand and agree that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have been sent by
      an Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized Officer. The Company and any obligor shall be responsible for ensuring that only Authorized Officers transmit such Instructions to
      the Trustee and that the Company, any obligor, and all Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Company
      and any other obligor, as applicable. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions notwithstanding such directions conflict or
      are inconsistent with a subsequent written instruction. The Company and any obligor agree: (i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee
      acting on unauthorized Instructions, and the risk of interception and misuse by third parties; (ii) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there
      may be more secure methods of transmitting Instructions than the method(s) selected by the Company and any other obligor, as applicable; (iii) that the security procedures (if any) to be followed in connection with its transmission of Instructions
      provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the security procedures.

    

    

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

    

    

    	 	
            BORR DRILLING LIMITED,

          
	 	
            as Issuer

          
	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 
	 	 	 
	 	
            [                                               ],

          
	 	
            as Trustee

          
	 	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 

     

    

    
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    EXHIBIT A

    

    

    [FORM OF FACE OF SECURITY]

    

    

    THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE
      TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS SECURITY FOR ALL PURPOSES.

    

    

    UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME
      OF NOMINEE OF DEPOSITARY. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO NOMINEE OF DEPOSITARY OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DEPOSITARY),
      ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, NOMINEE OF DEPOSITARY, HAS AN INTEREST HEREIN.

    

    

    TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE
      DEPOSITARY, OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

    

    

    CUSIP No. _________

    

    

    Borr Drilling Limited

    __________NOTES DUE 20__

    

    

    	
            No. ___

          	
            $_________

            As revised by the

            Schedule of Increases

            or Decreases in

            Global Security

            attached hereto

          

    

    

    Interest. Borr Drilling Limited, a public limited company organized under the laws of Bermuda (herein called the “Company”, which term includes any successor Person under the
      Indenture hereinafter referred to), for value received, hereby promises to pay to ___________ or registered assigns, the principal sum of ___ million dollars ($_________), as revised by the Schedule of Increases or Decreases in Global Security
      attached hereto, on ________, 20__ and to pay interest thereon from _______, 20__ or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on _______ and _______ in each year,
      commencing _______, 20__ at the rate of ____% per annum, until the principal hereof is paid or made available for payment.

    

    

    Method of Payment. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in
      whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Record Date for such interest, which shall be _______ or _______, as the case may be, next preceding such Interest Payment Date. Any such
      interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered
      at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice thereof having been given to Holders of Securities of this series not less than 10 days prior to such Special Record Date,
      all as more fully provided in said Indenture. Payment of the principal of (and premium, if any) and any such interest on this Security will be made at the Corporate Trust Office in U.S. Dollars.

    
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    Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

    

    

    Authentication. Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be
      entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

    

    

    IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its corporate seal.

    

    

    Dated: _______, 20__

    

    

    	 	
            BORR DRILLING LIMITED

          
	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:    

          	 

    

    

    TRUSTEE’S CERTIFICATE OF AUTHENTICATION

    

    

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

    

    

    	
            Date of authentication: ___________

          	
            [                                         ]

          
	 	
            as Trustee

          
	 	 
	 	
            By:

          	 
	 	 	
            Authorized Signatory

          

    

    

    
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    [FORM OF REVERSE OF SECURITY]

    

    

    Indenture. This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an
      Indenture, dated as of __________, 20__, [as supplemented by a ___ Supplemental Indenture dated _______, 20__] (as so supplemented, herein called the “Indenture”), between the Company and [Trustee], as Trustee (herein called the “Trustee”, which term
      includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company,
      the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited in aggregate principal
      amount to $_________.

    

    

    Optional Redemption. The Securities of this series are subject to redemption at the Company’s option, at any time and from time to time, in whole or in part, at a Redemption Price
      equal to __________.

    

    

    For purposes of determining the optional redemption price, the following definitions are applicable:

    

    

    __________

    

    

    Notice of any redemption will be mailed at least 30 days but not more than 60 days before the Redemption Date (unless a shorter period shall be satisfactory to the Trustee) to each registered Holder of the Securities to
      be redeemed. Unless the Company defaults in payment of the redemption price, on and after the Redemption Date, interest will cease to accrue on the Securities or portions of the Securities called for redemption. If fewer than all of the Securities
      are to be redeemed, the Trustee will select, not more than __ days prior to the Redemption Date, the particular Securities or portions thereof for redemption from the outstanding Securities not previously called by such method as the Trustee deems
      fair and appropriate.

    

    

    Except as set forth above, the Securities will not be redeemable by the Company prior to maturity [and will not be entitled to the benefit of any sinking fund].

    

    

    Defaults and Remedies. If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be
      declared due and payable in the manner and with the effect provided in the Indenture.

    

    

    Amendment, Modification and Waiver. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of
      the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in aggregate principal amount of the Securities at
      the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
      Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive
      and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon
      this Security.

    

    

    Restrictive Covenants. The Indenture does not limit unsecured debt of the Company or any of its Subsidiaries.

    

    

    Denominations, Transfer and Exchange. The Securities of this series are issuable only in registered form without coupons in denominations of $1,000 and in integral multiples of
      $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of like tenor of a different authorized
      denomination, as requested by the Holder surrendering the same.

    
      64

      
        

    

    

    

    As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registerable in the Security Register, upon surrender of this Security for registration of transfer at
      the Registrar accompanied by a written request for transfer in form satisfactory to the Company and the Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series
      and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.

    

    

    No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

    

    

    Persons Deemed Owners. Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the
      Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary.

    

    

    Miscellaneous. The Indenture and this Security shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflicts of law
      rules of said State.

    

    

    All terms used in this Security and not defined herein shall have the meanings assigned to them in the Indenture.

    
      65

      
        

    

    

    

    SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY

    

    

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

    

    

    	
            
              Date of Exchange

            

          	
            
              Amount of increase in Principal Amount of this Global Security

            

          	
            
              Amount of decrease in Principal Amount of this Global Security

            

          	
            
              Principal Amount of this Global Security following each decrease or increase

            

          	
            
              Signature of authorized signatory of Trustee

            

          
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

    

    

  

  66

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