Document:

Senior Indenture dated as of April 25, 2018

 Exhibit 4(h) 
  

 
  

WELLS FARGO FINANCE LLC, 

as Issuer 
 WELLS
FARGO & COMPANY, 
 as Guarantor 

AND 
 CITIBANK, N.A.,

 as Trustee 
  

 
 INDENTURE

 Dated as of April 25, 2018 
  

 
 Senior Debt
Securities 
  
  

 

 Reconciliation and tie between Trust Indenture Act of 1939 and 

Indenture, dated as of April 25, 2018 
  

			
	Trust Indenture Act Section	  	Indenture Section
		
	 §310(a)(1)
	  	609
	 (a)(2)
	  	609
	 (a)(3)
	  	Not Applicable
	 (a)(4)
	  	Not Applicable
	 (b)
	  	608, 610
	 §311(a)
	  	613
	 (b)
	  	613
	 §312(a)
	  	701, 702(a)
	 (b)
	  	702(b)
	 (c)
	  	702(c)
	 §313(a)
	  	703(a)
	 (b)
	  	703(a)
	 (c)
	  	703(a)
	 (d)
	  	703(b)
	 §314(a)
	  	704, 1005
	 (b)
	  	Not Applicable
	 (c)(1)
	  	102
	 (c)(2)
	  	102
	 (c)(3)
	  	Not Applicable
	 (d)
	  	Not Applicable
	 (e)
	  	102
	 §315(a)
	  	601
	 (b)
	  	602
	 (c)
	  	601
	 (d)
	  	601
	 (e)
	  	514
	 §316(a)(1)(A)
	  	502, 512
	 (a)(1)(B)
	  	513
	 (a)(2)
	  	Not Applicable
	 (b)
	  	508
	 (c)
	  	104(h)
	 §317(a)(1)
	  	503
	 (a)(2)
	  	504
	 (b)
	  	1003
	 §318(a)
	  	107

  
  

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

 TABLE OF CONTENTS 

Page 
  

					
	 Parties
	  	 	1	 
	 Recitals
	  	 	2	 
		
	ARTICLE ONE	  			
		
	Definitions and Other Provisions of General Application	  			
		
	 Section 101.    Definitions
	  	 	2	 
	 Act
	  	 	3	 
	 Affiliate
	  	 	3	 
	 Authorized Newspaper
	  	 	3	 
	 Bearer Security
	  	 	3	 
	 Board of Directors
	  	 	3	 
	 Board Resolution
	  	 	4	 
	 Business Day
	  	 	4	 
	 Clearstream
	  	 	4	 
	 Commission
	  	 	4	 
	 Corporate Trust Office
	  	 	4	 
	 corporation
	  	 	4	 
	 coupon
	  	 	4	 
	 Covenant Breach
	  	 	4	 
	 Debt Securities
	  	 	5	 
	 Defaulted Interest
	  	 	5	 
	 Depositary
	  	 	5	 
	 Designated Currency
	  	 	5	 
	 Dollar or $
	  	 	5	 
	 Eligible Instruments
	  	 	5	 
	 Euroclear
	  	 	5	 
	 Event of Default
	  	 	5	 
	 Exchange Act
	  	 	5	 
	 Exchange Rate
	  	 	5	 
	 Exchange Rate Agent
	  	 	5	 
	 Exchange Rate Officer’s Certificate
	  	 	6	 
	 Foreign Currency
	  	 	6	 
	 Global Exchange Agent
	  	 	6	 
	 Global Exchange Date
	  	 	6	 
	 Global Security
	  	 	6	 
	 Guarantee
	  	 	6	 
	 Guarantor
	  	 	6	 
	 Guarantor Request and Guarantor Order
	  	 	6	 
	 Holder
	  	 	6	 
	 Indenture
	  	 	6	 
	 interest
	  	 	7	 

  
 i 

					
	 Interest Payment Date
	  	 	7	 
	 Issuer
	  	 	7	 
	 Issuer Request and Issuer Order
	  	 	7	 
	 Maturity
	  	 	7	 
	 Officers’ Certificate
	  	 	7	 
	 Opinion of Counsel
	  	 	7	 
	 Original Issue Discount Security
	  	 	7	 
	 Outstanding
	  	 	7	 
	 Paying Agent
	  	 	8	 
	 Person
	  	 	8	 
	 Place of Payment
	  	 	8	 
	 Predecessor Security
	  	 	8	 
	 Redemption Date
	  	 	8	 
	 Redemption Price
	  	 	9	 
	 Registered Security
	  	 	9	 
	 Regular Record Date
	  	 	9	 
	 Remarketing Entity
	  	 	9	 
	 Repayment Date
	  	 	9	 
	 Repayment Price
	  	 	9	 
	 Responsible Officer
	  	 	9	 
	 Security Register
	  	 	9	 
	 Special Record Date
	  	 	9	 
	 Stated Maturity
	  	 	9	 
	 Subsidiary
	  	 	9	 
	 Trust Indenture Act
	  	 	10	 
	 Trustee
	  	 	10	 
	 United States
	  	 	10	 
	 United States Alien
	  	 	10	 
	 U.S. Government Obligations
	  	 	10	 
	 Voting Stock
	  	 	10	 
	 Section 102.      Compliance Certificates and
Opinions
	  	 	10	 
	 Section 103.      Form of Documents Delivered to
Trustee
	  	 	11	 
	 Section 104.      Acts of
Holders
	  	 	12	 
	 Section 105.      Notices, etc., to Trustee,
Issuer and Guarantor
	  	 	13	 
	 Section 106.      Notice to Holders;
Waiver
	  	 	14	 
	 Section 107.      Conflict with Trust Indenture
Act
	  	 	15	 
	 Section 108.      Effect of Headings and Table of
Contents
	  	 	15	 
	 Section 109.      Successors and
Assigns
	  	 	15	 
	 Section 110.      Separability
Clause
	  	 	15	 
	 Section 111.      Benefits of
Indenture
	  	 	15	 
	 Section 112.      Governing
Law
	  	 	16	 
	 Section 113.      Legal
Holidays
	  	 	16	 
	 Section 114.      Counterparts
	  	 	16	 
	 Section 115.      Force
Majeure
	  	 	16	 
	 Section 116.      U.S.A. Patriot
Act
	  	 	16	 

  
 ii 

			
	ARTICLE TWO	  	
		
	Debt Security Forms	  	
		
	 Section 201.      Forms
Generally
	  	17
	 Section 202.      Form of Trustee’s
Certificate of Authentication
	  	17
	 Section 203.      Debt Securities in Global
Form
	  	18
		
	ARTICLE THREE	  	
		
	The Debt Securities	  	
		
	 Section 301.      Amount Unlimited; Issuance in
Series
	  	18
	
Section 302.      Denominations
	  	22
	 Section 303.      Execution, Authentication,
Delivery and Dating
	  	22
	 Section 304.      Temporary Debt
Securities
	  	24
	 Section 305.      Registration; Registration of
Transfer and Exchange
	  	27
	 Section 306.      Mutilated, Destroyed, Lost and
Stolen Debt Securities
	  	30
	 Section 307.      Payment of Interest; Interest
Rights Preserved
	  	31
	 Section 308.      Persons Deemed
Owners
	  	33
	 Section 309.      Cancellation
	  	34
	 Section 310.      Computation of
Interest
	  	34
	 Section 311.      Certification by a Person
Entitled to Delivery of a Bearer Security
	  	34
	 Section 312.      Judgments
	  	34
		
	ARTICLE FOUR	  	
		
	Satisfaction and Discharge	  	
		
	 Section 401.      Satisfaction and Discharge of
Indenture
	  	35
	 Section 402.      Application of Trust Money and
Eligible Instruments
	  	36
	 Section 403.      Satisfaction, Discharge and
Defeasance of Debt Securities of any Series
	  	37
		
	 ARTICLE FIVE
  

Remedies
	  	
		
	 Section 501.      Events of
Default
	  	40
	 Section 502.      Acceleration of Maturity;
Rescission and Annulment
	  	41
	 Section 503.      Collection of Indebtedness and
Suits for Enforcement by Trustee
	  	42
	 Section 504.      Trustee May File Proofs of
Claim
	  	43
	 Section 505.      Trustee May Enforce Claims
without Possession of Debt Securities or Coupons
	  	44
	 Section 506.      Application of Money
Collected
	  	44
	 Section 507.      Limitation on
Suits
	  	45
	 Section 508.      Unconditional Right of Holders
to Receive Principal, Premium and Interest
	  	45
	 Section 509.      Restoration of Rights and
Remedies
	  	46
	 Section 510.      Rights and Remedies
Cumulative
	  	46
	 Section 511.      Delay or Omission Not
Waiver
	  	46
	 Section 512.      Control by Holders of Debt
Securities
	  	46
	 Section 513.      Waiver of Past
Defaults
	  	47

  
 iii 

			
	 Section 514.      Undertaking for
Costs
	  	47
	 Section 515.      Waiver of Stay or Extension
Laws
	  	48
		
	ARTICLE SIX	  	
		
	The Trustee	  	
		
	 Section 601.      Certain Duties and
Responsibilities
	  	48
	 Section 602.      Notice of
Default
	  	49
	 Section 603.      Certain Rights of
Trustee
	  	49
	 Section 604.      Not Responsible
for Recitals or Issuance of Debt Securities
	  	51
	 Section 605.      May Hold Debt
Securities or Coupons
	  	51
	 Section 606.      Money Held in
Trust
	  	51
	 Section 607.      Compensation and
Reimbursement
	  	51
	 Section 608.      Disqualification;
Conflicting Interests
	  	52
	 Section 609.      Corporate Trustee Required;
Eligibility
	  	52
	 Section 610.      Resignation and Removal;
Appointment of Successor
	  	53
	 Section 611.      Acceptance of Appointment by
Successor
	  	55
	 Section 612.      Merger, Conversion,
Consolidation or Succession to Business
	  	56
	 Section 613.      Preferential Collection of
Claims Against Issuer and Guarantor
	  	56
	 Section 614.      Authenticating
Agent
	  	56
		
	ARTICLE SEVEN	  	
		
	Holders’ Lists and Reports By Trustee and Issuer	  	
		
	 Section 701.      Issuer to Furnish Trustee Names
and Addresses of Holders
	  	58
	 Section 702.      Preservation of Information;
Communications to Holders
	  	58
	 Section 703.      Reports by
Trustee
	  	59
	 Section 704.      Reports by Issuer and
Guarantor
	  	59
		
	ARTICLE EIGHT	  	
		
	Consolidation, Merger, Conveyance, Transfer or Lease	  	
		
	 Section 801.      Issuer May Consolidate, etc.
Only on Certain Terms
	  	60
	 Section 802.      Guarantor May Consolidate, etc.
Only on Certain Terms
	  	60
	 Section 803.      Successor Corporation
Substituted
	  	61
		
	ARTICLE NINE	  	
		
	Supplemental Indentures	  	
		
	 Section 901.      Supplemental Indentures without
Consent of Holders
	  	62
	 Section 902.      Supplemental Indentures with
Consent of Holders
	  	63
	 Section 903.      Execution of Supplemental
Indentures
	  	65
	 Section 904.      Effect of Supplemental
Indentures
	  	65
	 Section 905.      Conformity with Trust Indenture
Act
	  	65
	 Section 906.      Reference in Debt Securities to
Supplemental Indentures
	  	65

  
 iv 

			
		
	 ARTICLE TEN
  

Covenants
	  	
		
	 Section 1001.      Payment of Principal, Premium
and Interest
	  	65
	 Section 1002.      Maintenance of Office or
Agency
	  	66
	 Section 1003.      Money for Debt Securities
Payments to Be Held in Trust
	  	67
	 Section 1004.      Payment of Additional
Amounts
	  	68
	 Section 1005.      Officers’ Certificate as
to Default
	  	69
	 Section 1006.      Waiver of Certain
Covenants
	  	69
	 Section 1007.      Calculation of Original Issue
Discount
	  	70
		
	ARTICLE ELEVEN	  	
		
	Redemption of Debt Securities	  	
		
	 Section 1101.    Applicability of
Article
	  	70
	 Section 1102.    Election to Redeem; Notice to
Trustee
	  	70
	 Section 1103.    Selection by Trustee of Debt Securities to
be Redeemed
	  	70
	 Section 1104.    Notice of Redemption
	  	71
	 Section 1105.    Deposit of Redemption
Price
	  	72
	 Section 1106.    Debt Securities Payable on Redemption
Date
	  	72
	 Section 1107.    Debt Securities Redeemed in
Part
	  	73
		
	ARTICLE TWELVE	  	
		
	Sinking Funds	  	
		
	 Section 1201.    Applicability of
Article
	  	73
	 Section 1202.    Satisfaction of Sinking Fund Payments with
Debt Securities
	  	74
	 Section 1203.    Redemption of Debt Securities for Sinking
Fund
	  	74
		
	ARTICLE THIRTEEN	  	
		
	Repayment at the Option of Holders	  	
		
	 Section 1301.    Applicability of
Article
	  	75
	 Section 1302.    Repayment of Debt
Securities
	  	75
	 Section 1303.    Exercise of Option;
Notice
	  	75
	 Section 1304.    Election of Repayment by Remarketing
Entities
	  	76
	 Section 1305.    Securities Payable on the Repayment
Date
	  	76
		
	ARTICLE FOURTEEN	  	
		
	Meetings of Holders of Debt Securities	  	
		
	 Section 1401.    Purposes for Which Meetings May Be
Called
	  	77
	 Section 1402.    Call, Notice and Place of
Meetings
	  	77
	 Section 1403.    Persons Entitled to Vote at
Meetings
	  	77
	 Section 1404.    Quorum; Action
	  	78
	 Section 1405.    Determination of Voting Rights; Conduct and
Adjournment of Meetings
	  	78

  
 v 

					
	 Section 1406.    Counting Votes and Recording Action of
Meetings
	  	 	79	 
		
	 ARTICLE FIFTEEN
  

Defeasance
	  			
		
	 Section 1501.    Termination of Issuer’s and Guarantor’s
Obligations
	  	 	80	 
	 Section 1502.    Repayment to Issuer
	  	 	81	 
	 Section 1503.    Indemnity for Eligible
Instruments
	  	 	81	 
		
	 ARTICLE SIXTEEN
  

Guarantee
	  			
		
	 Section 1601.    The Guarantee
	  	 	81	 
	 Section 1602.    Guarantee Unconditional
	  	 	82	 
	 Section 1603.    Discharge;
Reinstatement
	  	 	83	 
	 Section 1604.    Waiver by the Guarantor
	  	 	83	 
	 Section 1605.    Subrogation
	  	 	83	 
	 Section 1606.    Stay of
Acceleration
	  	 	83	 
	 Section 1607.    Savings
Clause
	  	 	84	 
	 Section 1608.    Execution and Delivery of
Guarantee
	  	 	84	 
	 Section 1609.    Not Insured
	  	 	84	 
	 Section 1610.    Release
	  	 	84	 
		
	 Testimonium
	  	 	85	 
	 Signatures
	  	 	85	 

  
 vi 

 INDENTURE (the “Indenture”) dated as of April 25, 2018,
among WELLS FARGO FINANCE LLC, a Delaware limited liability company (hereinafter called the “Issuer”), having its principal place of business at 375 Park Avenue, 4th Floor, New
York, New York 10152, WELLS FARGO & COMPANY, a Delaware corporation (hereinafter called the “Guarantor”), having its principal place of business at 420 Montgomery Street, San Francisco, California 94104, and CITIBANK, N.A.,
(hereinafter called the “Trustee”), a national banking association duly organized and validly existing under the laws of the United States of America having its Corporate Trust Office at 388 Greenwich Street, New York, New York 10013,
Attn: Citibank Agency and Trust. 
 RECITALS 

The Issuer has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of
its debentures, notes, bonds and other evidences of indebtedness (herein called the “Debt Securities”). 
 The
Guarantor has duly authorized the full and unconditional guarantee of the Debt Securities and the execution and delivery of this Indenture as guarantor of the Debt Securities. 

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

For and in consideration of the premises and the purchase of the Debt Securities of any series created and issued on or after
the date hereof by the Holders thereof, it is mutually covenanted and agreed for the equal and proportionate benefit of all Holders of such Debt Securities or of any such series, as follows: 

ARTICLE ONE 

Definitions and Other Provisions 

of General Application 

Section 101.    Definitions. 

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

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

  
 2 

 (2)    all other terms used herein which
are defined in the Trust Indenture Act or by Commission rule or regulation under the Trust Indenture Act, either directly or by reference therein, as in force at the date as of which this instrument was executed, except as provided in
Section 905, have the meanings assigned to them therein; 
 (3)    all accounting
terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with
respect to any computation required or permitted hereunder shall mean such accounting principles as are generally accepted in the United States at the date of such computation; and 

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

Certain terms, used principally in Article Six, are defined in that Article. 

“Act” when used with respect to any Holder has the meaning specified in Section 104. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or
under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities by contract or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

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

“Bearer Security” means any Debt Security established pursuant to Section 201 which is payable to bearer
including, without limitation, unless the context otherwise indicates, a Debt Security in global bearer form. 

“Board of Directors” means (a) with respect to the Issuer, either the board of directors of the Issuer or any
committee of that board duly authorized to act in respect hereof and (b) with respect to the Guarantor, either the board of directors of the Guarantor, or the executive or any other committee of that board duly authorized to act in respect
hereof. 

  
 3 

 “Board Resolution” means (a) with respect to the Issuer, a
copy of a resolution certified by the Secretary or an Assistant Secretary of the Issuer to have been duly adopted by the Board of the Issuer and to be in full force and effect on the date of such certification, and delivered to the Trustee and
(b) with respect to the Guarantor, a copy of a resolution certified by the Secretary or an Assistant Secretary of the Guarantor to have been duly adopted by the Board of the Guarantor and to be in full force and effect on the date of such
certification, and delivered to the Trustee. Where any provision of this Indenture refers to action to be taken pursuant to a Board Resolution (including the establishment of any series of the Debt Securities and the forms and terms thereof), such
action may be taken by any committee of the Board of the Issuer or the Guarantor, as applicable, or any officer or employee of the Issuer or the Guarantor, as applicable, authorized to take such action by a Board Resolution. 

“Business Day”, when used with respect to any Place of Payment, means any day which is not a Saturday or Sunday and
which is not a legal holiday or a day on which banking institutions or trust companies in that Place of Payment are authorized or obligated by law, regulation or executive order to close. 

“Clearstream” means Clearstream Banking, société anonyme. 

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

“Corporate Trust Office” means the principal office of the Trustee at which at any particular time its corporate
trust business shall be administered, which office at the date of original execution of this Indenture is located at 388 Greenwich Street, New York, New York 10013, Attn: Citibank Agency and Trust. 

The term “corporation” includes corporations, associations, companies (including limited liability companies) and
business trusts. 
 The term “coupon” means any interest coupon appertaining to a Bearer Security. 

“Covenant Breach”, wherever used herein with respect to Debt Securities of any series, means any one of the
following events (whatever the reason for such Covenant Breach and whether it shall be voluntary or involuntary or be effected by operation of law, pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body), except as may be otherwise provided pursuant to Section 301 for Debt Securities of any series: 

(1)    default in the performance, or breach, of any covenant or warranty of the Issuer in this Indenture
(other than a covenant or warranty a default in whose performance or whose breach is in Section 501 specifically dealt with or which has expressly been included in this Indenture solely for the benefit of Debt Securities of a series other than
such series), and continuance of such default or breach for a period of 90 days after there has been given by 

  
 4 

 
registered or certified mail, to the Issuer and the Guarantor by the Trustee, or to the Issuer, the Guarantor and the Trustee by the Holders of at least 25% in principal amount of the Outstanding
Debt Securities of such series, a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Covenant Breach” hereunder; or 

(2)    any other Covenant Breach provided with respect to the Debt Securities of such series specified as
contemplated by Section 301. 
 A Covenant Breach shall not be an Event of Default with respect to any Debt Security, except to the
extent otherwise specifically provided pursuant to Section 301 with respect to such Debt Security. 
 “Debt
Securities” has the meaning stated in the first recital of this Indenture and more particularly means any Debt Securities authenticated and delivered under this Indenture. 

“Defaulted Interest” has the meaning specified in Section 307. 

“Depositary” means, with respect to the Debt Securities of any series issuable or issued in the form of a Global
Security, the Person designated as Depositary by the Issuer pursuant to Section 301 until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Depositary” shall mean or
include each person who is then a Depositary hereunder, and if at any time there is more than one such Person, “Depositary” as used with respect to the Debt Securities of any such series shall mean the Depositary with respect to the Debt
Securities of that series. 
 “Designated Currency” has the meaning specified in Section 312. 

“Dollar” or “$” means the coin or currency of the United States of America as at the time of payment is
legal tender for the payment of public and private debts. 
 “Eligible Instruments” means monetary assets, money
market instruments and securities that are payable in Dollars only and essentially risk free as to collection of principal and interest, including U.S. Government Obligations. 

“Euroclear” means Euroclear Bank S.A./N.V. 

“Event of Default” has the meaning specified in Section 501. 

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

“Exchange Rate” shall have the meaning specified as contemplated in Section 301. 

“Exchange Rate Agent” shall have the meaning specified as contemplated in Section 301. 

  
 5 

 “Exchange Rate Officer’s Certificate”, with respect to any
date for the payment of principal of (and premium, if any) and interest on any series of Debt Securities, means a certificate setting forth the applicable Exchange Rate and the amounts payable in Dollars and Foreign Currencies in respect of the
principal of (and premium, if any) and interest on Debt Securities denominated in any composite currency or Foreign Currency, and signed by the Chief Executive Officer, the President, a Senior Vice President, the Chief Financial Officer or the
Treasurer of the Issuer or the Exchange Rate Agent appointed pursuant to Section 301, and delivered to the Trustee. 

“Foreign Currency” means a currency issued by the government of any country other than the United States of
America. 
 “Global Exchange Agent” has the meaning specified in Section 304. 

“Global Exchange Date” has the meaning specified in Section 304. 

“Global Security” means a Debt Security issued to evidence all or part of a series of Debt Securities in accordance
with Section 303. 
 “Guarantee” means the guarantee of the Debt Securities by the Guarantor pursuant to
Article Sixteen of this Indenture. 
 “Guarantor” means the Person named as the “Guarantor” in the
first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Guarantor” shall mean such successor Person. 

“Guarantor Request” and “Guarantor Order” mean, respectively, except as otherwise provided in this
Indenture, a written request or order signed in the name of the Guarantor by the Chairman of the Board, a Vice Chairman of the Board, the President or a Vice President (any references to a Vice President of the Guarantor herein shall be deemed to
include any Vice President of the Guarantor whether or not designated by a number or word or words added before or after the title “Vice President”), the Treasurer, an Assistant Treasurer, the Controller, an Assistant Controller, Secretary
or an Assistant Secretary of the Guarantor or by another officer of the Guarantor duly authorized to sign by a Board Resolution, and delivered to the Trustee. 

“Holder”, with respect to a Registered Security, means a Person in whose name such Registered Security is
registered in the Security Register and, with respect to a Bearer Security or a coupon, means the bearer thereof. 

“Indenture” means this instrument as originally executed or as it may from time to time be supplemented, amended or
restated by or pursuant to one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and, unless the context otherwise requires, shall include the terms of a particular series of Debt Securities established
as contemplated by Section 301. 

  
 6 

 The term “interest”, when used with respect to an Original Issue
Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity. 

“Interest Payment Date”, with respect to any Debt Security, means the Stated Maturity of an installment of interest
on such Debt Security. 
 “Issuer” means the Person named as the “Issuer” in the first paragraph of
this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Issuer” shall mean such successor Person. 

“Issuer Request” and “Issuer Order” mean, respectively, except as otherwise provided in this Indenture, a
written request or order signed in the name of the Issuer by the Chief Executive Officer, the President or a Vice President (any references to a Vice President of the Issuer herein shall be deemed to include any Vice President of the Issuer whether
or not designated by a number or word or words added before or after the title “Vice President”), the Chief Financial Officer, the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Issuer or by another
officer of the Issuer duly authorized to sign by a Board Resolution, and delivered to the Trustee. 
 “Maturity”,
when used with respect to any Debt Security, means the date on which the principal of such Debt Security becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption,
repayment at the option of the Holder or otherwise. 
 “Officers’ Certificate” means (a) with respect
to the Issuer, a certificate signed by the Chief Executive Officer, the President , a Vice President or the Chief Financial Officer, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Issuer, and delivered
to the Trustee and (b) with respect to the Guarantor, a certificate signed by the Chairman of the Board, a Vice Chairman of the Board, the President or a Vice President, and by the Treasurer, an Assistant Treasurer, the Controller, an Assistant
Controller, the Secretary or an Assistant Secretary of the Guarantor, and delivered to the Trustee. 
 “Opinion of
Counsel” means a written opinion of counsel, who may (except as otherwise expressly provided in this Indenture) be an employee of or counsel for the Issuer or the Guarantor, or who may be other counsel, which is delivered to the Trustee. 

“Original Issue Discount Security” means any Debt Security which provides for an amount less than the principal
amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 

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

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

  
 7 

 (ii)    Debt Securities or portions
thereof for whose payment or redemption money or Eligible Instruments in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Issuer or the Guarantor) in trust or set aside and segregated in trust
by the Issuer or the Guarantor (if the Issuer or the Guarantor, as applicable, shall act as its own Paying Agent) for the Holders of such Debt Securities and any coupons appertaining thereto; provided, however, that if such Debt Securities
are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; and 

(iii)    Debt Securities in exchange for or in lieu of which other Debt Securities have
been authenticated and delivered, or which have been paid, pursuant to this Indenture; 
 provided, however, that in determining
whether the Holders of the requisite principal amount of Debt Securities Outstanding have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Debt Securities owned by the Issuer, the Guarantor or any other
obligor upon the Debt Securities or any Affiliate of the Issuer, the Guarantor or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon such
request, demand, authorization, direction, notice, consent or waiver, only Debt Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Debt Securities so owned which have been pledged in good
faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Debt Securities and that the pledgee is not the Issuer, the Guarantor or any other obligor
upon the Debt Securities or any Affiliate of the Issuer, the Guarantor or of such other obligor. 
 “Paying
Agent” means any Person authorized by the Issuer to pay the principal of (and premium, if any) or interest on any Debt Securities on behalf of the Issuer or any Person authorized by the Guarantor to pay amounts under the Guarantee on behalf of
the Guarantor. 
 “Person” means any individual, corporation, limited liability company, partnership, joint
venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. 

“Place of Payment”, when used with respect to the Debt Securities of any series means any place where the principal
of (and premium, if any) and interest on the Debt Securities of that series are payable as specified as contemplated by Section 301. 

“Predecessor Security” of any particular Debt Security means every previous Debt Security evidencing all or a
portion of the same debt as that evidenced by such particular Debt Security; and, for the purposes of this definition, any Debt Security authenticated and delivered under Section 306 in lieu of a lost, destroyed or stolen Debt Security shall be
deemed to evidence the same debt as the lost, destroyed or stolen Debt Security. 
 “Redemption Date”, when used
with respect to any Debt Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 

  
 8 

 “Redemption Price”, when used with respect to any Debt Security
to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 
 “Registered
Security” means any Debt Security in the form of Registered Securities established pursuant to Section 201 which is registered in the Security Register. 

“Regular Record Date” for the interest payable on any Interest Payment Date on the Registered Securities of any
series means the date specified for that purpose as contemplated by Section 301. 
 “Remarketing Entity”,
when used with respect to Debt Securities of any series which are repayable at the option of the Holders thereof before their Stated Maturity, means any person designated by the Issuer or the Guarantor to purchase any such Debt Securities. 

“Repayment Date”, when used with respect to any Debt Security to be repaid upon exercise of an option for repayment
by the Holder, means the date fixed for such repayment pursuant to this Indenture. 
 “Repayment Price”, when
used with respect to any Debt Security to be repaid upon exercise of an option for repayment by the Holder, means the price at which it is to be repaid pursuant to this Indenture. 

“Responsible Officer” when used with respect to the Trustee, means any vice president, any assistant vice
president, any senior trust officer or assistant trust officer, any trust officer, or any other officer associated with the corporate trust department of the Trustee customarily performing functions similar to those performed by any of the above
designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such person’s knowledge of and familiarity with the particular subject. 

“Security Register” and “Security Registrar” have the respective meanings specified in Section 305.

 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to
Section 307. 
 “Stated Maturity”, when used with respect to any Debt Security or any installment of
interest thereon, means the date specified in such Debt Security or a coupon representing such installment of interest as the fixed date on which the principal of such Debt Security or such installment is due and payable. 

“Subsidiary” of any specified Person means any corporation more than 50% of the outstanding shares of Voting Stock,
except for directors’ qualifying shares, of which shall at the time be owned, directly or indirectly, by such specified Person or by one or more of the Subsidiaries 

  
 9 

 
of such specified Person, or by such specified Person and one or more other Subsidiaries of such specified Person. 

“Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of which this instrument was
executed, except as provided in Section 905. 
 “Trustee” means the Person named as the “Trustee”
in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is then a Trustee hereunder,
and if at any time there is more than one such Person, “Trustee” as used with respect to the Debt Securities of any series shall mean the Trustee with respect to Debt Securities of that series. 

“United States” means the United States of America (including the District of Columbia) and its possessions. 

“United States Alien” means any Person who, for United States Federal income tax purposes, is a foreign
corporation, a non-resident alien individual, a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership one or more of the members of which
is, for United States Federal income tax purposes, a foreign corporation, a non-resident alien individual or a non-resident alien fiduciary of a foreign estate or trust.

 “U.S. Government Obligations” means direct obligations of the United States for the payment of which its full
faith and credit is pledged, or obligations of a person controlled or supervised by and acting as an agency or instrumentality of the United States the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by
the United States, and shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with respect to any such U.S. Government Obligation or a specific payment of
principal of or interest on any such U.S. Government Obligation held by such custodian for the account of the holder of such depository receipt, provided that (except as required by law) such custodian is not authorized to make any deduction
from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal of or interest on the U.S. Government Obligation evidenced
by such depository receipt. 
 “Voting Stock”, as applied to the stock (or the equivalent thereof) of any
corporation, means stock (or the equivalent thereof) of any class or classes, however designated, having ordinary voting power for the election of a majority of the directors, managers or trustees of such corporation, other than stock (or such
equivalent) having such power only by reason of the happening of a contingency. 
 Section
102.    Compliance Certificates and Opinions. 
 Upon any application or request by the
Issuer or the Guarantor to the Trustee to take any action under any provision of this Indenture, the Issuer or the Guarantor, as applicable, shall furnish to the Trustee, if so requested by the Trustee or otherwise provided for in another provision

  
 10 

 
of this Indenture, an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and an
Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically
required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 

Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall
include: 
 (1)    a statement that each individual signing such certificate or opinion
has read such covenant or condition and the definitions herein relating thereto; 

(2)    a brief statement as to the nature and scope of the examination or investigation
upon which the statements or opinions contained in such certificate or opinion are based; 

(3)    a statement that, in the opinion of each such individual, he or she has made such
examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(4)    a statement as to whether, in the opinion of each such individual, such condition
or covenant has been complied with. 
 Section 103.    Form of Documents Delivered to
Trustee. 
 In any case where several matters are required to be certified by, or covered by an opinion of, any
specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with
respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an opinion as to such matters in one or several documents. 

Any certificate or opinion of an officer of the Issuer or the Guarantor may be based, insofar as it relates to legal matters,
upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which his or her
certificate or opinion is based is erroneous. Any such certificate or Opinion of Counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Issuer or the
Guarantor, as applicable, stating that the information with respect to such factual matters is in the possession of the Issuer or the Guarantor, as applicable, unless such counsel knows, or in the exercise of reasonable care should know, that the
certificate or opinions or representations with respect to such matters is erroneous. 

  
 11 

 Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

Section 104.    Acts of Holders. 

(a)    Any request, demand, authorization, direction, notice, consent, waiver or other action provided by
this Indenture to be given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. If Debt Securities of a series are
issuable in whole or in part as Bearer Securities, any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by Holders may, alternatively, be embodied in and evidenced by
the record of Holders of Debt Securities voting in favor thereof, either in person or by proxies duly appointed in writing, at any meeting of Holders of Debt Securities duly called and held in accordance with the provisions of Article Fourteen, or a
combination of such instruments and any such record. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or record or both are delivered to the Trustee, and, where it is hereby
expressly required, to the Issuer and the Guarantor. Such instrument or instruments and any such record (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such
instrument or instruments and so voting at any such meeting. Proof of execution of any such instrument or of a writing appointing any such agent, or the holding by any Person of a Debt Security, shall be sufficient for any purpose of this Indenture
and (subject to Section 601) conclusive in favor of the Trustee and the Issuer and the Guarantor, if made in the manner provided in this Section. The record of any meeting of Holders of Debt Securities shall be proved in the manner provided in
Section 1406. 
 (b)    The fact and date of the execution by any Person of any such instrument or
writing may be proved in any manner which the Trustee deems sufficient. 
 (c)    The ownership of
Registered Securities shall be proved by the Security Register. 
 (d)    The principal amount and
serial numbers of Bearer Securities held by any Person, and the date of holding the same, may be proved by the production of such Bearer Securities or by a certificate executed, as depositary, by any trust company, bank, banker or other depositary,
wherever situated, if such certificate shall be deemed by the Trustee to be satisfactory, showing that at the date therein mentioned such Person had on deposit with such depositary, or exhibited to it, the Bearer Securities in the amount and with
the serial numbers therein described; or such facts may be proved by the certificate or affidavit of the Person holding such Bearer Securities, if such certificate or affidavit is deemed by the Trustee to be satisfactory. The Trustee and the Issuer
and the Guarantor may assume that such ownership of any Bearer Security continues until (1) another certificate or affidavit bearing a later date issued in respect of the same Bearer Security is produced, or (2) such Bearer Security is
produced to the Trustee by some other person, or (3) such Bearer Security is surrendered in exchange for a Registered Security, or (4) such Bearer Security is no longer Outstanding. 

  
 12 

 (e)    The fact and date of execution of any such
instrument or writing, the authority of the Person executing the same and the principal amount and serial numbers of Bearer Securities held by the Person so executing such instrument or writing and the date of holding the same may also be proved in
any other manner which the Trustee deems sufficient; and the Trustee may in any instance require further proof with respect to any of the matters referred to in this Section. 

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

(g)    For purposes of determining the principal amount of Outstanding Debt Securities of any series of
Holders of which are required, requested or permitted to give any request, demand, authorization, direction, notice, consent, waiver or take any other Act under this Indenture, (i) each Original Issue Discount Security shall be deemed to have
the principal amount determined by the Trustee that could be declared to be due and payable pursuant to the terms of such Original Issue Discount Security as of the date there is delivered to the Trustee and, where it is hereby expressly required,
to the Issuer and the Guarantor, such Act by Holders of the required aggregate principal amount of the Outstanding Debt Securities of such series and (ii) each Debt Security denominated in a Foreign Currency or composite currency shall be
deemed to have the principal amount determined by the Exchange Rate Agent by converting the principal amount of such Debt Security in the currency in which such Debt Security is denominated into Dollars at the Exchange Rate as of the date such Act
is delivered to the Trustee and, where it is hereby expressly required, to the Issuer and the Guarantor, by Holders of the required aggregate principal amount of the Outstanding Debt Securities of such series (or, if there is no such rate on such
date, such rate on the date determined as specified as contemplated in Section 301). 
 (h)    The
Issuer may set a record date for purposes of determining the identity of Holders of Debt Securities of any series entitled to vote or consent to any action by vote or consent authorized or permitted by Section 512 or Section 513. Such
record date shall be the later of 30 days prior to the first solicitation of such consent or the date of the most recent list of Holders of such Debt Securities furnished to the Trustee pursuant to Section 701 prior to such solicitation. 

Section 105.    Notices, etc., to Trustee, Issuer and Guarantor. 

Any request, demand, authorization, direction, notice, consent, waiver or other Act of Holders or other document provided or
permitted by this Indenture to be made upon, given or furnished to, or filed with, 

(1)    the Trustee by any Holder or by the Issuer or the Guarantor shall be sufficient for
every purpose hereunder (unless otherwise herein expressly provided), if made, given, furnished or filed in writing (which may be via original or facsimile) to or with 

  
 13 

 
the Trustee at its Corporate Trust Office and which shall be deemed delivered when actually received by a Responsible Officer of the Trustee, or 

(2)    the Issuer or the Guarantor by the Trustee or by any Holder shall be sufficient for
every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Issuer or the Guarantor, as applicable, addressed to the attention of its
Secretary at the address of its principal office specified in the first paragraph of this instrument or at any other address previously furnished in writing to the Trustee by the Issuer or the Guarantor, as applicable. 

Section 106.    Notice to Holders; Waiver. 

Except as otherwise expressly provided herein, where this Indenture provides for notice to Holders of any event,
(1) such notice shall be sufficiently given to Holders of Registered Securities if in writing and mailed, first-class postage prepaid, to each Holder of a Registered Security affected by such event, at
such Holder’s address as it appears in the Security Register, not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice; and (2) such notice shall be sufficiently given to Holders of
Bearer Securities by publication thereof in an Authorized Newspaper in The City of New York and, if the Debt Securities of such series are then listed on the London Stock Exchange and such stock exchange shall so require, in London, and, if the Debt
Securities of such series are then listed on the Luxembourg Stock Exchange and such stock exchange shall so require, in Luxembourg and, if the Debt Securities of such series are then listed on any other stock exchange outside the United States and
such stock exchange shall so require, in any other required city outside the United States or, if not practicable, in Europe on a Business Day at least twice, the first such publication to be not later than the latest date, if any, and not earlier
than the earliest date, if any, prescribed for the giving of such notice. 
 In case, by reason of the suspension of or
irregularities in regular mail service or for any other reason, it shall be impossible or impracticable to mail notice of any event to Holders when said notice is required to be given pursuant to any provision of this Indenture or of the Debt
Securities, then any manner of giving such notice as shall be satisfactory to the Trustee shall be deemed to be a sufficient giving of such notice. In any case where notice to Holders of Registered Securities is to be given by mail, neither the
failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder of a Registered Security shall affect the sufficiency of such notice with respect to other Holders of Registered Securities or the sufficiency of any
notice by publication to Holders of Bearer Securities given as provided above. 
 In case, by reason of the suspension of
publication of any Authorized Newspaper, or by reason of any other cause, it shall be impossible or impracticable to make publication of any notice to Holders of Bearer Securities as provided above, then such method of publication or notification as
shall be made with the approval of the Trustee shall constitute a sufficient publication of such notice. Neither failure to give notice by publication to Holders of Bearer Securities as provided above, nor any defect in any notice so published,
shall affect the sufficiency of any notice mailed to Holders of Registered Securities as provided above. 

  
 14 

 Where this Indenture provides for notice in any manner, such notice may be
waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a
condition precedent to the validity of any action taken in reliance upon such waiver. 
 Any request, demand,
authorization, direction, notice, consent, election, waiver or other Act required or permitted under this Indenture shall be in the English language, except that any published notice may be in an official language of the country of publication. 

Where this Indenture provides for notice of any event to a Holder of a Global Security, such notice shall be sufficiently
given if given to the Depositary for such Debt Security (or its designee), pursuant to the applicable procedures of the Depositary, not later than the latest date, if any, and not earlier than the earliest date, if any, prescribed for the giving of
such notice in such procedures. 
 Section 107.    Conflict with Trust Indenture Act.

 If any provision hereof limits, qualifies or conflicts with another provision hereof which is required to be included in
this Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, such
Trust Indenture Act provision shall be deemed to apply to this Indenture as so modified or excluded, as the case may be. 

Section 108.    Effect of Headings and Table of Contents. 

The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the
construction hereof. 
 Section 109.    Successors and Assigns. 

All covenants and agreements in this Indenture by the Issuer or the Guarantor shall bind their respective successors and
assigns, whether expressed or not. 
 Section 110.    Separability Clause. 

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

Section 111.    Benefits of Indenture. 

Nothing in this Indenture or in the Debt Securities or coupons, express or implied, shall give to any Person, other than the
parties hereto and their successors hereunder, any Paying 

  
 15 

 
Agent and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 

Section 112.    Governing Law. 

This Indenture, the Debt Securities and coupons and the Guarantee shall be governed by and construed in accordance with the
laws of the State of New York. 
 Section 113.    Legal Holidays. 

In any case where any Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity of any Debt Security shall
not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Debt Securities or coupons) payment of interest or principal (and premium, if any) need not be made at such Place of Payment on such
date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date, Redemption Date, Repayment Date or at the Stated Maturity, and no interest shall accrue on the
amount so payable for the period from and after such Interest Payment Date, Redemption Date, Repayment Date or Stated Maturity, as the case may be. 

Section 114.    Counterparts. 

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

Section 116.    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. 

  
 16 

 ARTICLE TWO 

Debt Security Forms 

Section 201.    Forms Generally. 

The Registered Securities, if any, and the Bearer Securities and related coupons, if any, of each series shall be in
substantially the form (including temporary or permanent global form) as shall be established in or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon, as may be required to comply with the rules of
any securities exchange, or as may, consistently herewith, be determined by the officers executing such Debt Securities or coupons, as evidenced by their signatures on the Debt Securities or coupons. If the form of Debt Securities of any series or
coupons (including any such Global Security) is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Issuer and delivered to
the Trustee at or prior to the delivery of the Issuer Order contemplated by Section 303 for the authentication and delivery of such Debt Securities or coupons. 

Unless otherwise specified as contemplated by Section 301, Debt Securities in bearer form other than Debt Securities in
temporary or permanent global form shall have coupons attached. 
 The definitive Debt Securities and coupons, if any,
shall be printed or may be produced in any other manner, all as determined by the officers executing such Debt Securities, as evidenced by the execution of such Debt Securities and coupons. 

Section 202.    Form of Trustee’s Certificate of Authentication. 

This is one of the Debt Securities, of the series designated herein, described in the
within-mentioned Indenture. 
  

			
	 CITIBANK, N.A.,
  

as Trustee

		
	By	 	 
		 	Authorized Signatory

 
			
		
	Dated	 	 

  
 17 

 Section 203.    Debt Securities in Global
Form. 
 If Debt Securities of a series are issuable in whole or in part in global form, as specified as contemplated
by Section 301, then, notwithstanding clause (10) of Section 301 and the provisions of Section 302, such Global Security shall represent such of the outstanding Debt Securities of such series as shall be specified therein and may
provide that it shall represent the aggregate amount of Outstanding Debt Securities from time to time endorsed thereon and that the aggregate amount of Outstanding Debt Securities represented thereby may from time to time be reduced to reflect
exchanges. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amounts, of Outstanding Debt Securities represented thereby shall be made in such manner and upon instructions given by such Person or Persons
as shall be specified therein or in the Issuer Order to be delivered to the Trustee pursuant to Section 303 or Section 304. 

The provisions of the last sentence of Section 303(g) shall apply to any Debt Securities represented by a Debt Security
in global form if such Debt Security was never issued and sold by the Issuer and the Issuer delivers to the Trustee the Debt Security in global form together with written instructions (which need not comply with Section 102 and need not be
accompanied by an Opinion of Counsel) with respect to the reduction in the principal amount of Debt Securities represented thereby, together with the written statement contemplated by the last sentence of Section 303(g). 

Global Securities may be issued in either registered or bearer form and in either temporary or permanent form. 

ARTICLE THREE 
 The Debt
Securities 
 Section 301.    Amount Unlimited; Issuance in Series. 

The aggregate principal amount of Debt Securities which may be authenticated and delivered under this Indenture is unlimited.

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

(1)      the title of the Debt Securities of the series and the CUSIP numbers
(which shall distinguish the Debt Securities of the series from all other Debt Securities), if available at the time the series is established; 

(2)      the limit, if any, upon the aggregate principal amount of the Debt
Securities of the series which may be authenticated and delivered under this Indenture (except for Debt Securities authenticated and delivered upon registration of transfer of, or in exchange for, or

  
 18 

 
in lieu of, other Debt Securities of the series pursuant to Section 304, 305, 306, 906, 1107 or 1303 and except for any Debt Securities which, pursuant to Section 303, are deemed never
to have been authenticated and delivered hereunder); 
 (3)      the date or
dates on which the principal and premium, if any, of the Debt Securities of the series are payable; 

(4)      the rate or rates, if any, at which the Debt Securities of the series
shall bear interest, or the method or methods by which such rate or rates may be determined, the date or dates from which such interest shall accrue, the Interest Payment Dates on which such interest shall be payable, the Regular Record Date for the
interest payable on any Registered Security on any Interest Payment Date and the circumstances, if any, in which the Issuer may defer interest payments; 

(5)      the place or places where, subject to the provisions of
Section 1002, the principal of (and premium, if any) and interest on Debt Securities of the series shall be payable, any Registered Securities of the series may be surrendered for registration of transfer, Debt Securities of the series may be
surrendered for exchange and notices and demands to or upon the Issuer in respect of the Debt Securities of the series and this Indenture may be served and where notices to Holders pursuant to Section 106 will be published; 

(6)      if applicable, the period or periods within which or the date or dates
on which, the price or prices at which and the terms and conditions upon which Debt Securities of the series may be redeemed, in whole or in part, at the option of the Issuer; 

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

(8)      whether Debt Securities of the series are to be issuable as Registered
Securities, Bearer Securities or both, whether Debt Securities of the series are to be issuable with or without coupons or both and, in the case of Bearer Securities, the date as of which such Bearer Securities shall be dated if other than the date
of original issuance of the first Debt Security of such series of like tenor and term to be issued; 

(9)      whether the Debt Securities of the series shall be issued in whole or
in part in the form of a Global Security or Securities and, in such case, the Depositary and, if applicable, the Global Exchange Agent for such Global Security or Securities, whether such global form shall be permanent or temporary and, if
applicable, the Global Exchange Date; 
 (10)    if Debt Securities of the series are to
be issuable initially in the form of a temporary Global Security, the circumstances under which the temporary Global Security can be exchanged for definitive Debt Securities and whether the definitive Debt Securities

  
 19 

 
will be Registered and/or Bearer Securities and will be in global form and whether interest in respect of any portion of such Global Security payable in respect of an Interest Payment Date prior
to the Global Exchange Date shall be paid to any clearing organization with respect to a portion of such Global Security held for its account and, in such event, the terms and conditions (including any certification requirements) upon which any such
interest payment received by a clearing organization will be credited to the Persons entitled to interest payable on such Interest Payment Date if other than as provided in this Article Three; 

(11)    whether, and under what conditions, additional amounts will be payable to Holders
of Debt Securities of the series pursuant to Section 1004; 
 (12)    the
denominations in which any Registered Securities of the series shall be issuable, if other than denominations of $1,000 and any integral multiple in excess thereof, and the denominations in which any Bearer Securities of such series shall be
issuable, if other than the denomination of $5,000; 
 (13)    if other than the
principal amount thereof, the portion of the principal amount of Debt Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502; 

(14)    the currency or currencies of denomination of the Debt Securities of any series,
which may be in Dollars, any Foreign Currency or any composite currency and, if any such currency of denomination is a composite currency, the agency or organization, if any, responsible for overseeing such composite currency; 

(15)    the currency or currencies in which payment of the principal of (and premium, if
any) and interest on the Debt Securities will be made, the currency or currencies, if any, in which payment of the principal of (and premium, if any) or the interest on Registered Securities, at the election of each of the Holders thereof, may also
be payable and the periods within which and the terms and conditions upon which such election is to be made and the Exchange Rate and Exchange Rate Agent; 

(16)    if the amount of payments of principal of (and premium, if any) or interest on the
Debt Securities of the series may be determined with reference to one or more equity-, commodity- or currency-based indices, exchange traded funds, securities, commodities, currencies, statistical measures of
economic or financial performance, or a basket comprised of any of the foregoing, or any other measure, the manner in which such amounts shall be determined; 

(17)    if payments of principal of (and premium, if any) or interest on the Debt
Securities of the series are to be made in a Foreign Currency other than the currency in which such Debt Securities are denominated, the manner in which the Exchange Rate with respect to such payments shall be determined or if the Exchange Rate is
to be determined otherwise than as provided in Section 101; 

  
 20 

 (18)    any Events of Default with
respect to Debt Securities of such series, if not set forth herein; 
 (19)    any other
covenant or warranty included for the benefit of the Debt Securities of the series in addition to (and not inconsistent with) those set forth herein for the benefit of Debt Securities of all series, or any other covenant or warranty included for the
benefit of Debt Securities of the series in lieu of any covenant or warranty set forth herein for the benefit of Debt Securities of all series, or any provision that any covenant or warranty set forth herein for the benefit of Debt Securities of all
series shall not be for the benefit of Debt Securities of such series, or any combination of such covenants, warranties or provisions, whether the provisions of Section 1006 will not apply such covenants and warranties and any addition to,
deletion from or other change to the definition of “Covenant Breach” set forth in Section 101; 

(20)    the terms and conditions, if any, pursuant to which the Issuer’s and the
Guarantor’s respective obligations under this Indenture may be terminated through the deposit of money or Eligible Instruments as provided in Articles Four and Fifteen; 

(21)    the Person or Persons who shall be Security Registrar for the Debt Securities of
such series if other than the Trustee, and the place or places where the Security Register for such series shall be maintained and the Person or Persons who will be the initial Paying Agent or Agents, if other than the Trustee; 

(22)    if Debt Securities of the series are to be issuable as Bearer Securities, the
certifications required for delivery of such Bearer Securities upon original issuance, transfer and exchange, the certifications required in connection with the payment of interest on a temporary Global Security and any other certifications or other
requirements relating to such Bearer Securities; and 
 (23)    any other terms of the
series (which terms shall not be inconsistent with the provisions of this Indenture). 
 All Debt Securities of any one
series and the coupons appertaining to Bearer Securities of such series, if any, shall be substantially identical except, in the case of Registered Securities, as to denomination and except as may otherwise be provided in or pursuant to such Board
Resolution and set forth in such Officers’ Certificate or in any such indenture supplemental hereto. 
 Debt
Securities of any particular series may be issued at various times, with different dates on which the principal or any installment of principal is payable, with different rates of interest, if any, or different methods by which rates of interest may
be determined, with different dates on which such interest may be payable and with different Redemption or Repayment Dates and may be denominated in different currencies or payable in different currencies. 

If any of the terms of a series of Debt Securities are established by action taken pursuant to a Board Resolution, a copy of
an appropriate record of such action shall be certified by 

  
 21 

 
the Secretary or an Assistant Secretary of the Issuer and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth the terms of the series. 

Section 302.    Denominations. 

Debt Securities of each series shall be issuable in such form and denominations as shall be specified in the form of Debt
Security for such series approved or established pursuant to Section 201 or in the Officers’ Certificate delivered pursuant to Section 301. In the absence of any specification with respect to the Debt Securities of any series, the
Registered Securities of such series, if any, shall be issuable in denominations of $1,000 and any integral multiple in excess thereof and the Bearer Securities of such series, if any, shall be issuable in the denominations of $5,000. 

Section 303.    Execution, Authentication, Delivery and Dating. 

(a)    The Debt Securities shall be executed on behalf of the Issuer by its Chief Executive Officer, the
President or a Vice President, and by its Treasurer or one of its Assistant Treasurers or its Secretary or one of its Assistant Secretaries. The signature of any of these officers on the Debt Securities may be manual or facsimile. Coupons shall bear
the facsimile signature of an authorized officer of the Issuer. 
 Debt Securities and coupons bearing the manual or
facsimile signatures of individuals who were at any time the proper officers of the Issuer shall bind the Issuer, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such
Debt Securities or coupons of any series or did not hold such offices at the date of such Debt Securities or coupons. 

(b)    At any time and from time to time after the execution and delivery of this Indenture, Debt
Securities of any series may be executed by the Issuer and delivered to the Trustee for authentication, and, except as otherwise provided in this Article Three, shall thereupon be authenticated and delivered by the Trustee upon Issuer Order, without
any further action by the Issuer; provided, however, that, in connection with its original issuance, a Bearer Security may be delivered only outside the United States and, except in the case of a temporary Global Security, only if the Issuer
or its agent shall have received the certification required pursuant to Section 301(22), and only if the Issuer has no reason to know that such certification is false. 

To the extent authorized in or pursuant to a Board Resolution and set forth in an Officers’ Certificate, or established
in one or more indentures supplemental hereto, such written Issuer Order may be given by any one officer or employee of the Issuer, may be electronically transmitted, and may provide instructions as to registration of holders, principal amounts,
rates of interest, maturity dates and other matters contemplated by such Board Resolution and Officers’ Certificate or supplemental indenture to be so instructed in respect thereof. Before authorizing and delivering the first Debt Securities of
any series (and upon request of the Trustee thereafter), the Issuer shall deliver to the Trustee (i) the certificates called for under Sections 201 and 301 hereof and (ii) an Opinion of Counsel described in the next sentence. 

  
 22 

 In authenticating such Debt Securities, and accepting the additional
responsibilities under this Indenture in relation to any Debt Securities, the Trustee shall be entitled to receive, prior to the initial authentication of such Debt Securities, and (subject to Section 601) shall be fully protected in relying
upon: 
 (i)      a Board Resolution relating thereto and, if applicable, an
appropriate record of any action taken pursuant to such resolution certified by the Secretary or an Assistant Secretary of the Issuer; 

(ii)     an executed supplemental indenture, if any, relating thereto; 

(iii)    an Officers’ Certificate setting forth the form and terms of the Debt
Securities of such series and coupons, if any, pursuant to Sections 201 and 301 and stating that all conditions precedent provided for in this Indenture relating to the issuance of such Debt Securities have been complied with; and 

(iv)    an Opinion of Counsel stating 

(A)    that the form of such Debt Securities and coupons, if any, has been established in
or pursuant to a Board Resolution or by a supplemental indenture as permitted by Section 201 in conformity with the provisions of this Indenture; 

(B)    that the terms of such Debt Securities and coupons, if any, have been established
in or pursuant to a Board Resolution or by a supplemental indenture as permitted by Section 301 in conformity with the provisions of this Indenture; 

(C)    that the Guarantee has been duly authorized by the Guarantor; and 

(D)    that when the Debt Securities and coupons, if any, have been authenticated and
delivered by the Trustee and issued by the Issuer in the manner and subject to any conditions specified in such Opinion of Counsel, the Debt Securities and coupons, if any, and the Guarantee will constitute legal, valid and binding obligations of
the Issuer and the Guarantor, respectively, enforceable in accordance with their terms, subject, as to enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors’ rights generally
and the application of general principles of equity and except further as enforcement thereof may be limited by (i) requirements that a claim with respect to any Debt Securities denominated other than in Dollars (or a Foreign Currency or
currency unit judgment in respect of such claim) be converted into Dollars at a rate of exchange prevailing on a date determined pursuant to applicable law or (ii) governmental authority to limit, delay or prohibit the making of payments in
Foreign Currencies or currency units or payments outside the United States. 
 (c)    If the Issuer
shall establish pursuant to Section 301 that the Debt Securities of a series are to be issued in whole or in part in the form of one or more Global Securities, then the 

  
 23 

 
Issuer shall execute and the Trustee shall, in accordance with this Section and the Issuer Order with respect to such series, authenticate and deliver one or more Global Securities in permanent
or temporary form that (i) shall represent and shall be denominated in an aggregate amount equal to the aggregate principal amount of the Outstanding Debt Securities of such series to be represented by one or more Global Securities,
(ii) shall be registered in the name of the Depositary for such Global Security or Securities or the nominee of such Depositary and (iii) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s
instructions. 
 (d)    The Trustee shall have the right to decline to authenticate and deliver any
Debt Securities under this Section 303 if the issuance of such Debt Securities will adversely affect the Trustee’s own rights, duties or immunities under the Debt Securities and this Indenture or otherwise in a manner which is not
reasonably acceptable to the Trustee. 
 (e)    If all the Debt Securities of any series are not to be
issued at one time, it shall not be necessary to deliver an Opinion of Counsel at the time of issuance of each Debt Security, but such Opinion of Counsel, with appropriate modifications, may instead be delivered at or prior to the time of the first
issuance of Debt Securities of such series. 
 (f)    Each Registered Security shall be dated the date
of its authentication. Each Bearer Security shall be dated as of the date specified as contemplated by Section 301. 

(g)    No Debt Security or coupon attached thereto shall be entitled to any benefit under this Indenture
or be valid or obligatory for any purpose, unless there appears on such Debt Security a certificate of authentication substantially in the form provided for herein executed by the Trustee, and such certificate upon any Debt Security shall be
conclusive evidence, and the only evidence, that such Debt Security has been duly authenticated and delivered hereunder. Except as permitted by Section 306, the Trustee shall not authenticate and deliver any Bearer Security unless all
appurtenant coupons for interest then matured have been detached and cancelled. Notwithstanding the foregoing, if any Debt Security or portion thereof shall have been duly authenticated and delivered hereunder but never issued and sold by the
Issuer, and the Issuer shall deliver such Debt Security to the Trustee for cancellation as provided in Section 309 together with a written statement (which need not comply with Section 102 and need not be accompanied by an Opinion of
Counsel) stating that such Debt Security or portion thereof has never been issued and sold by the Issuer, for all purposes of this Indenture such Debt Security shall be deemed never to have been authenticated and delivered hereunder and shall never
be entitled to the benefits of this Indenture. 
 (h) Each Depositary designated pursuant to Section 301 for a Global
Security in registered form must, at the time of its designation and at all times while it serves as Depositary, be a clearing agency registered under the Exchange Act and any other applicable statute or regulation. 

Section 304.    Temporary Debt Securities. 

(a)     Pending the preparation of definitive Debt Securities of any series, the Issuer may execute,
and upon receipt of documents required by Sections 301 and 303, together with an Issuer Order, the Trustee shall authenticate and deliver, temporary Debt Securities which are printed 

  
 24 

 
or otherwise produced, in any denomination, substantially of the tenor and terms of the definitive Debt Securities in lieu of which they are issued in registered form or, if authorized, in bearer
form with one or more coupons or without coupons, and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Debt Securities may determine, as evidenced by their signatures on such Debt
Securities. In the case of Debt Securities of any series issuable as Bearer Securities, such temporary Debt Securities may be in global form, representing all or any part of the Outstanding Debt Securities of such series. 

(b)     Unless otherwise provided pursuant to Section 301: 

(i)      Except in the case of temporary Debt Securities in global form, if
temporary Debt Securities of any series are issued, the Issuer will cause definitive Debt Securities of such series to be prepared without unreasonable delay. After the preparation of definitive Debt Securities of such series, the related temporary
Debt Securities shall be exchangeable for such definitive Debt Securities upon surrender of the temporary Debt Securities of such series at the office or agency of the Issuer in the Place of Payment for such series, without charge to the Holder.
Upon surrender for cancellation of any one or more temporary Debt Securities of any series (accompanied, if applicable, by all unmatured coupons and all matured coupons in default appertaining thereto), the Issuer shall execute and the Trustee shall
authenticate and deliver in exchange therefor a like principal amount of definitive Debt Securities of the same series of like tenor and terms and of authorized denominations; provided, however, that no Bearer Security shall be delivered in
exchange for a Registered Security; and provided, further, that a Bearer Security shall be delivered in exchange for a Bearer Security only in compliance with the conditions pursuant to Section 301(22). 

(ii)     If Debt Securities of any series are issued in temporary global form, any
such temporary Global Security shall, unless otherwise provided pursuant to Section 301, be delivered to the Depositary for the benefit of Euroclear and Clearstream, for credit to the respective accounts of the beneficial owners of such Debt
Securities (or to such other accounts as they may direct). 
 (iii)    Without
unnecessary delay but in any event not later than the date specified in, or determined pursuant to the terms of, any such temporary Global Security (the “Global Exchange Date”), the Issuer shall deliver definitive Debt Securities to the
Trustee or the agent appointed by the Issuer pursuant to Section 301 to effect the exchange of the temporary Global Security for definitive Debt Securities (the “Global Exchange Agent”), in an aggregate principal amount equal to the
principal amount of such temporary Global Security, executed by the Issuer. On or after the Global Exchange Date, such temporary Global Security shall be surrendered by the Depositary to the Global Exchange Agent, to be exchanged, in whole or from
time to time in part, for definitive Debt Securities without charge and the Trustee or the Global Exchange Agent, if the Global Exchange Agent is authorized by the Trustee pursuant to Section 614, shall authenticate and deliver, in exchange for
each portion of such temporary Global Security, an equal aggregate principal amount of definitive Debt Securities of the same series of authorized denominations and of like tenor and terms as the portion of such temporary Global Security to be
exchanged. Upon any exchange of a part of such temporary Global Security for definitive Debt 

  
 25 

 
Securities, the portion of the principal amount and any interest thereon so exchanged shall be endorsed by the Global Exchange Agent on a schedule to such temporary Global Security, whereupon the
principal amount and interest payable with respect to such temporary Global Security shall be reduced for all purposes by the amount so exchanged and endorsed. The definitive Debt Securities to be delivered in exchange for any such temporary Global
Security shall be in bearer form, registered form, global registered form or global bearer form, or any combination thereof, as specified as contemplated by Section 301, and, if any combination thereof is so specified, as requested by the
beneficial owner thereof; provided, however, that, in the case of the exchange of the temporary Global Security for definitive Bearer Securities (including a definitive Global Bearer Security), upon such presentation by the Depositary, such
temporary Global Security shall be accompanied by the certificates signed by Euroclear and Clearstream required pursuant to Section 301(22), unless such certificate(s) shall have been provided earlier pursuant to section 304(b)(v) hereof;
and provided, further, that definitive Bearer Securities (including a definitive Global Bearer Security) shall be delivered in exchange for a portion of a temporary Global Security only in compliance with the requirements of Section 303.

 (iv)    The interest of a beneficial owner of Debt Securities of a series in a
temporary Global Security shall be exchanged for definitive Debt Securities of the same series and of like tenor and terms following the Global Exchange Date when the account holder instructs Euroclear or Clearstream, as the case may be, to request
such exchange on such account holder’s behalf and, in the case of the exchange of the temporary Global Security for definitive Bearer Securities (including a definitive Global Bearer Security), unless such certificate(s) shall have been
provided earlier pursuant to Section 304(b)(v) hereof, the account holder delivers to Euroclear or Clearstream, as the case may be, a certificate in the form required pursuant to Section 301(22), dated no earlier than 15 days prior to the
Global Exchange Date, copies of which certificate(s) shall be available from the offices of Euroclear and Clearstream, the Global Exchange Agent, any authenticating agent appointed for such series of Debt Securities and each Paying Agent. Unless
otherwise specified in such temporary Global Security, any such exchange shall be made free of charge to the beneficial owners of such temporary Global Security, except that a Person receiving definitive Debt Securities must bear the cost of
insurance, postage, transportation and the like in the event that such Person does not take delivery of such definitive Debt Securities in person at the offices of Euroclear and Clearstream. Definitive Debt Securities in bearer form to be delivered
in exchange for any portion of a temporary Global Security shall be delivered only outside the United States. 

(v)     Until exchanged in full as hereinabove provided, the temporary Debt
Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Debt Securities of the same series and of like tenor and terms authenticated and delivered hereunder, except that interest payable on
a temporary Global Security on an Interest Payment Date shall be payable to Euroclear and Clearstream on such Interest Payment Date only if there has been delivery by Euroclear and Clearstream to the Global Exchange Agent of a certificate or
certificates in the form required pursuant to Section 301(22) dated no earlier than the first Interest Payment Date, for credit without further interest on or after such Interest Payment Date to the respective accounts of the

  
 26 

 
Persons who are the beneficial owners of such temporary Global Security on such Interest Payment Date and who have each delivered to Euroclear or Clearstream, as the case may be, a certificate in
the form required pursuant to Section 301(22) dated no earlier than the first Interest Payment Date. Any interest so received by Euroclear and Clearstream and not paid as herein provided prior to the Global Exchange Date shall be returned to
the Global Exchange Agent which, upon expiration of two years after such Interest Payment Date, shall repay such interest to the Issuer in accordance with Section 1003. 

Section 305.    Registration; Registration of Transfer and Exchange. 

The Issuer shall cause to be kept at one of the offices or agencies to be maintained by the Issuer in accordance with the
provisions of this Section 305 and Section 1002, with respect to the Debt Securities of each series which are Registered Securities, a register (herein sometimes referred to as the “Security Register”) in which, subject to such
reasonable regulations as it may prescribe, the Issuer shall provide for the registration of Registered Securities and of transfers of Registered Securities. Pursuant to Section 301, the Issuer shall appoint, with respect to Debt Securities of
each series which are Registered Securities, a “Security Registrar” for the purpose of registering such Debt Securities and transfers and exchanges of such Debt Securities as herein provided. 

Upon surrender for registration of transfer of any Registered Security of any series at the office or agency of the Issuer
maintained for such purpose, the Issuer shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Registered Securities of the same series of any authorized denomination
or denominations, of like tenor and terms and aggregate principal amount. 
 At the option of the Holder, Registered
Securities of any series may be exchanged for other Registered Securities of the same series of any authorized form and denomination, of like tenor and terms and aggregate principal amount, upon surrender of the Registered Securities to be exchanged
at such office or agency. Bearer Securities may not be delivered in exchange for Registered Securities. 
 At the option of
the Holder, Registered Securities or Bearer Securities of any series may be issued in exchange for Bearer Securities (except as otherwise specified as contemplated by Section 301 with respect to a Bearer Security in global form) of the same
series, of any authorized denominations and of like tenor and terms and aggregate principal amount, upon surrender of the Bearer Securities to be exchanged at any such office or agency, with all unmatured coupons and all matured coupons in default
thereto appertaining. If the Holder of a Bearer Security is unable to produce any such unmatured coupon or coupons or matured coupon or coupons in default, such exchange may be effected if the Bearer Securities are accompanied by payment in funds
acceptable to the Issuer and the Trustee in an amount equal to the face amount of such missing coupon or coupons, or the surrender of such missing coupon or coupons may be waived by the Issuer and the Trustee if there be furnished to them such
security or indemnity as they may require to save each of them, the Guarantor and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to any Paying Agent any such missing coupon in respect of which such a payment
shall have been made, such Holder shall be entitled to receive the amount of such payment; provided, 

  
 27 

 
however, that, except as otherwise provided in Section 1002, interest represented by coupons shall be payable only upon presentation and surrender of those coupons at an office or
agency located outside the United States. Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at any such office or agency in exchange for a Registered Security of the same series and like tenor and terms after the
close of business at such office or agency of (i) any Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special Record Date and before the opening of business
at such office or agency on the related date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to such Interest Payment Date or proposed date of payment, as the case may be. 

Whenever any Debt Securities are so surrendered for exchange, the Issuer shall execute, and the Trustee shall authenticate
and deliver, the Debt Securities which the Holder making the exchange is entitled to receive. 
 If at any time the
Depositary for the Debt Securities of a series notifies the Issuer that it is unwilling or unable to continue as Depositary for the Debt Securities of such series or if at any time the Depositary for the Debt Securities of such series shall no
longer be eligible under Section 303(h), the Issuer shall appoint a successor Depositary with respect to the Debt Securities of such series. If a successor Depositary for the Debt Securities of such series is not appointed by the Issuer within
90 days after the Issuer receives such notice or becomes aware of such ineligibility, the Issuer’s election pursuant to Section 301(9) shall no longer be effective with respect to the Debt Securities of such series and the Issuer will
execute, and the Trustee, upon receipt of an Issuer Order for the authentication and delivery of definitive Debt Securities of such series, will authenticate and deliver, Debt Securities of such series in definitive form in an aggregate principal
amount equal to the principal amount of the Global Security or Securities representing such series in exchange for such Global Security or Securities. 

The Issuer may at any time and in its sole discretion determine that the Debt Securities of any series issued in the form of
one or more Global Securities shall no longer be represented by such Global Security or Securities. In such event the Issuer will execute, and the Trustee, upon receipt of an Issuer Order for the authentication and delivery of definitive Debt
Securities of such series, will authenticate and deliver, Debt Securities of such series in definitive form and in an aggregate principal amount equal to the principal amount of the Global Security or Securities representing such series in exchange
for such Global Security or Securities. 
 If specified by the Issuer pursuant to Section 301 with respect to a series
of Debt Securities, the Depositary for such series of Debt Securities may surrender a Global Security for such series of Debt Securities in exchange in whole or in part for Debt Securities of such series of like tenor and terms and in definitive
form on such terms as are acceptable to the Issuer and such Depositary. Thereupon, the Issuer shall execute, and the Trustee shall authenticate and deliver, without charge to any Holder, 

(a)    to each Person specified by such Depositary a new Debt Security or Securities of
the same series, of like tenor and terms and of any authorized denominations 

  
 28 

 
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 of like tenor and terms and in a
denomination equal to the difference, if any, between the principal amount of the surrendered Global Security and the aggregate principal amount of Debt Securities delivered to Holders thereof. 

In any exchange provided for in any of the preceding three paragraphs, the Issuer will execute and the Trustee will
authenticate and deliver Debt Securities (a) in definitive registered form in authorized denominations, if the Debt Securities of such series are issuable as Registered Securities, (b) in definitive bearer form in authorized denominations,
with coupons attached, if the Debt Securities of such series are issuable as Bearer Securities or (c) as either Registered or Bearer Securities, as shall be specified by the beneficial owner thereof, if the Debt Securities of such series are
issuable in either form; provided, however, that no definitive Bearer Security shall be delivered in exchange for a temporary Global Security unless the Issuer or its agent shall have received from the person entitled to receive the
definitive Bearer Security a certificate substantially in the form required pursuant to Section 301(22); and provided further that delivery of a Bearer Security shall occur only outside the United States; and provided further that
no definitive Bearer Security will be issued if the Issuer has reason to know that any such certificate is false. 
 Upon
the exchange of a Global Security for Debt Securities in definitive form, such Global Security shall be cancelled by the Trustee. Registered 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 Registered Securities
to the persons in whose names such Debt Securities are so registered. The Trustee shall deliver Bearer Securities issued in exchange for a Global Security pursuant to this Section to the persons, 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; provided, however, that no definitive Bearer Security shall be delivered in exchange for a
temporary Global Security unless the Issuer or its agent shall have received from the person entitled to receive the definitive Bearer Security a certificate substantially in the form required pursuant to Section 301(22); and provided
further that delivery of a Bearer Security shall occur only outside the United States; and provided further that no definitive Bearer Security will be issued if the Issuer has reason to know that any such certificate is false. 

All Debt Securities issued upon any registration of transfer or exchange of Debt Securities shall be the valid obligations of
the Issuer (and the Guarantee on such Debt Securities shall be a valid obligation of the Guarantor) evidencing the same debt, and entitled to the same benefits under this Indenture, as the Debt Securities surrendered upon such registration of
transfer or exchange. 
 Every Registered Security presented or surrendered for registration of transfer or for exchange
shall (if so required by the Issuer, the Security Registrar or the Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Issuer, the Security 

  
 29 

 
Registrar and the Trustee duly executed, by the Holder thereof or such Holder’s attorney duly authorized in writing. 

No charge to any Holder shall be made for any registration of transfer or exchange of Debt Securities, but the Issuer may
require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any transfer, registration of transfer or exchange of Debt Securities, other than exchanges expressly provided in this Indenture
to be made at the Issuer’s own expense or without expense or without charge to the Holders. 
 The Issuer shall not be
required (i) to issue, register the transfer of or exchange Debt Securities of any particular series to be redeemed for a period of fifteen days preceding the first publication of the relevant notice of redemption or, if Registered Securities
are outstanding and there is no publication, the mailing of the relevant notice of redemption of Debt Securities of such series selected for redemption under Section 1103 and ending at the close of business on the day of such mailing, or
(ii) to register the transfer of or exchange any Registered Security so selected for redemption in whole or in part, except the unredeemed portion of such Registered Security being redeemed in part, or (iii) to exchange any Bearer Security
so selected for redemption except that such a Bearer Security may be exchanged for a Registered Security of like tenor and terms of that series, provided that such Registered Security shall be simultaneously surrendered for redemption. 

Notwithstanding anything herein to the contrary, the exchange of Bearer Securities into Registered Securities shall be
subject to applicable laws and regulations in effect at the time of exchange; neither the Issuer, the Trustee nor the Security Registrar shall exchange any Bearer Securities into Registered Securities if it has received an Opinion of Counsel that as
a result of such exchanges the Issuer or the Guarantor would suffer adverse consequences under the United States Federal income tax laws and regulations then in effect and the Issuer has delivered to the Trustee an Issuer Order directing the Trustee
not to make such exchanges thereafter unless and until the Trustee receives a subsequent Issuer Order to the contrary. The Issuer shall deliver copies of such Issuer Orders to the Security Registrar. 

Section 306.    Mutilated, Destroyed, Lost and Stolen Debt Securities. 

If (i) any mutilated Debt Security or a Bearer Security with a mutilated coupon appertaining to it is surrendered to a
Paying Agent outside the United States designated by the Issuer, or, in the case of any Registered Security, to the Trustee, or (ii) the Issuer, the Guarantor and the Trustee receive evidence to their satisfaction of the destruction, loss or
theft of any Debt Security or coupon, and there is delivered to the Issuer, the Guarantor and the Trustee such security or indemnity as may be required by them to save each of them harmless, then, in the absence of notice to the Issuer, the
Guarantor and the Trustee that such Debt Security or coupon has been acquired by a bona fide purchaser, the Issuer shall execute and upon its written request the Trustee shall authenticate and deliver, in exchange for any such mutilated Debt
Security or Bearer Security with a mutilated coupon appertaining to it or to which a destroyed, lost or stolen coupon appertains (with all appurtenant coupons not destroyed, lost or stolen) or in lieu of any such destroyed, lost or stolen Debt
Security, a new Debt Security of like tenor and terms and principal amount, bearing a number not contemporaneously outstanding, with coupons corresponding to the coupon, if any, appertaining to such destroyed, lost or stolen Debt Security or to the
Debt Security to which such 

  
 30 

 
destroyed, lost or stolen coupon appertains; provided, however, that any such new Bearer Security will be delivered only in compliance with the conditions set forth in Section 305.

 In case any such mutilated, destroyed, lost or stolen Debt Security or coupon has become or is about to become due and
payable, the Issuer in its discretion may, instead of issuing a new Debt Security, pay such Debt Security or coupon; provided, however, that payment of principal of (and premium, if any) and any interest on Bearer Securities shall, except as
otherwise provided in Section 1002, be payable only at an office or agency located outside the United States; and provided, further, that, with respect to any such coupons, interest represented thereby (but not any additional amounts
payable as provided in Section 1004), shall be payable only upon presentation and surrender of the coupons appertaining thereto. 

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

Every new Debt Security of any series, with its coupons, if any, issued pursuant to this Section in lieu of any destroyed,
lost or stolen Debt Security, or in exchange for a Bearer Security to which a destroyed, lost or stolen coupon appertains, shall constitute an original additional contractual obligation of the Issuer and the Guarantor, whether or not the destroyed,
lost or stolen Debt Security and its coupons, if any, or the destroyed, lost or stolen coupon shall be at any time enforceable by anyone, and any such new Debt Security and coupons, if any, shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Debt Securities of that series and their coupons, if any, duly issued hereunder. 

The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with
respect to the replacement or payment of mutilated, destroyed, lost or stolen Debt Securities or coupons. 
 Section
307.    Payment of Interest; Interest Rights Preserved. 
 Interest on any Registered
Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Registered Security (or one or more Predecessor Securities) is registered at the close of business on
the Regular Record Date for such interest. In case a Bearer Security of any series is surrendered in exchange for a Registered Security of such series after the close of business (at an office or agency in a Place of Payment for such series) on any
Regular Record Date and before the opening of business (at such office or agency) on the next succeeding Interest Payment Date, such Bearer Security shall be surrendered without the coupon relating to such Interest Payment Date and interest will not
be payable on such Interest Payment Date in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance with the provisions of this Indenture. At the
option of the Issuer, payment of interest on any Registered Security may be made by check in the currency designated for such payment pursuant to the terms of such Registered Security mailed to the address of the Person entitled thereto as such
address shall appear in the Security Register or by wire transfer to an account in 

  
 31 

 
such currency designated by such Person in writing not later than ten days prior to the date of such payment. 

Any interest on any Registered Security of any series which 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 registered Holder on the relevant Regular Record Date by virtue of his having been such Holder, and such Defaulted Interest may be
paid by the Issuer, at its election in each case, as provided in Clause (1) or (2) below: 

(1)    The Issuer may elect to make payment of any Defaulted Interest to the Persons in
whose names the Registered Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following
manner. The Issuer shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Registered Security of such series and the date of the proposed payment, and at the same time the Issuer shall deposit with the
Trustee an amount of money and/or, to the extent such Debt Securities are denominated and payable in Dollars only, Eligible Instruments the payments of principal and interest on which when due (and without reinvestment and providing no tax liability
will be imposed upon the Trustee or the Holder of such Registered Securities) will provide money in such amounts as will (together with any money irrevocably deposited in trust with the Trustee, without investment) be 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 and/or Eligible Instruments 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 days and not less than 10
days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the written notice of the proposed payment. The Trustee shall promptly notify the Issuer of such Special Record Date. Unless the Trustee is
acting as the Security Registrar, promptly after such Special Record Date, the Issuer shall furnish the Trustee with a list, or shall make arrangements satisfactory to the Trustee with respect thereto, of the names and addresses of, and principal
amounts of Registered Securities of such series held by, the Holders appearing on the Security Register at the close of business on such Special Record Date. In the name and at the expense of the Issuer, the Trustee shall cause notice of the
proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Registered Securities of such series at his address as it appears
in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid
to the Persons in whose names the Registered Securities of such series (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following
Clause (2). In case a Bearer Security of any series is surrendered at the office or agency in a Place of Payment for such series in exchange for a Registered Security of such series after the close of business at such office or agency on any
Special Record Date and before the opening of business at such 

  
 32 

 
office or agency on the related proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to such proposed date of payment and
Defaulted Interest will not be payable on such proposed date of payment in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance with the
provisions of this Indenture. 
 (2)    The Issuer may make payment of any Defaulted
Interest on the Registered Securities of any series in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Registered Securities may be listed, and upon such notice as may be required by such
exchange, if, after notice given by the Issuer to the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 

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

Subject to the limitations set forth in Section 1002, the Holder of any coupon appertaining to a Bearer Security shall
be entitled to receive the interest payable on such coupon upon presentation and surrender of such coupon on or after the Interest Payment Date of such coupon at an office or agency maintained for such purpose pursuant to Section 1002. 

Section 308.    Persons Deemed Owners. 

Prior to due presentment of a Registered Security for registration of transfer, the Issuer, the Guarantor, the Trustee and
any agent of the Issuer, the Guarantor or of the Trustee may treat the Person in whose name such Registered Security is registered as the owner of such Registered Security for the purpose of receiving payment of principal of (and premium, if any)
and (subject to Section 307) interest on such Registered Security and for all other purposes whatsoever, whether or not such Registered Security be overdue, and neither the Issuer, the Guarantor, the Trustee nor any agent of the Issuer, the
Guarantor or the Trustee shall be affected by notice to the contrary. 
 The Issuer, the Guarantor, the Trustee and any
agent of the Issuer, the Guarantor or the Trustee may treat the bearer of any Bearer Security and the bearer of any coupon as the absolute owner of such Bearer Security or coupon for the purpose of receiving payment thereof or on account thereof and
for all other purposes whatsoever, whether or not such Bearer Security or coupon be overdue, and neither the Issuer, the Guarantor, the Trustee nor any agent of the Issuer, the Guarantor or the Trustee shall be affected by notice to the contrary.

 None of the Issuer, the Guarantor, the Trustee, any Paying Agent or the Security Registrar will have any responsibility
or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

  
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 Section 309.    Cancellation. 

Unless otherwise provided with respect to a series of Debt Securities, all Debt Securities and coupons surrendered for
payment, redemption, repayment, transfer, exchange or credit against any sinking fund payment pursuant to this Indenture, shall, if surrendered to the Issuer or any agent of the Issuer, be delivered to the Trustee and shall be promptly cancelled by
it. The Issuer may at any time deliver to the Trustee for cancellation any Debt Securities previously authenticated and delivered hereunder which the Issuer may have acquired in any manner whatsoever, and all Debt Securities so delivered shall be
promptly cancelled by the Trustee. No Debt Securities shall be authenticated in lieu of or in exchange for any Debt Securities cancelled as provided in this Section, except as expressly permitted by this Indenture. All cancelled Debt Securities and
coupons held by the Trustee shall be destroyed and certification of their destruction delivered to the Issuer unless by an Issuer Order the Issuer shall direct that the cancelled Debt Securities or coupons be returned to it. 

Section 310.    Computation of Interest. 

Except as otherwise specified as contemplated by Section 301 for Debt Securities of any series, interest on the Debt
Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day months. 

Section 311.    Certification by a Person Entitled to Delivery of a Bearer Security. 

Whenever any provision of this Indenture or a Debt Security contemplates that certification be given by a Person entitled to
delivery of a Bearer Security, such certification shall be provided substantially in the form required pursuant to Section 301(22), with only such changes as shall be approved by the Issuer and consented to by the Trustee whose consent shall
not unreasonably be withheld. 
 Section 312.    Judgments. 

The Issuer may provide, pursuant to Section 301, for the Debt Securities of any series that, to the fullest extent
possible under applicable law and except as may otherwise be specified as contemplated in Section 301, (a) the obligation, if any, of the Issuer to pay the principal of (and premium, if any) and interest on the Debt Securities of any
series and any appurtenant coupons in a Foreign Currency, composite currency or Dollars (the “Designated Currency”) as may be specified pursuant to Section 301 is of the essence and agrees that judgments in respect of such Debt
Securities shall be given in the Designated Currency; (b) the obligation of the Issuer to make payments in the Designated Currency of the principal of (and premium, if any) and interest on such Debt Securities and any appurtenant coupons 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) in the country of issue of the Designated Currency in the case of Foreign Currency or Dollars or in the international banking community in the
case of a composite 

  
 34 

 
currency on the Business Day 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 Issuer shall pay such additional amounts as may be necessary to compensate for such shortfall; and (d) any obligation of the Issuer 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. 
 ARTICLE FOUR 

Satisfaction and Discharge 

Section 401.    Satisfaction and Discharge of Indenture. 

This Indenture shall upon Issuer Request cease to be of further effect (except as to any surviving rights of registration of
transfer or exchange of Debt Securities herein expressly provided for and rights to receive payments of principal and interest thereon and any right to receive additional amounts, as provided in Section 1004) and the Trustee, at the expense of
the Issuer, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture when 

(1)    either 

(A)    all Debt Securities theretofore authenticated and delivered and all coupons
appertaining thereto (other than (i) coupons appertaining to Bearer Securities surrendered in exchange for Registered Securities and maturing after such exchange, surrender of which is not required or has been waived as provided in
Section 305, (ii) Debt Securities and coupons which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 306, (iii) coupons appertaining to Bearer Securities called for redemption or
surrendered for repayment and maturing after the relevant Redemption Date or Repayment Date, as appropriate, surrender of which has been waived as provided in Section 1106 or 1303 and (iv) Debt Securities and coupons for whose payment
money and/or Eligible Instruments have theretofore been deposited in trust or segregated and held in trust by the Issuer or the Guarantor and thereafter repaid to the Issuer or the Guarantor or discharged from such trust, as provided in
Section 1003) have been delivered to the Trustee cancelled or for cancellation; or 

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

 (i)      have become due and payable, or 

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

  
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 (iii)    are to be called for
redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, 

and the Issuer or the Guarantor, in the case of (B)(i), (B)(ii) or (B)(iii) above, has irrevocably deposited or caused to be
deposited with the Trustee as trust funds in trust for the purpose money and/or, to the extent such Debt Securities are denominated and payable in Dollars only, Eligible Instruments the payments of principal and interest on which when due (and
without reinvestment and providing no tax liability will be imposed upon the Trustee or the Holders of Debt Securities) will provide money in such amounts as will (together with any money irrevocably deposited in trust with the Trustee, without
investment) be sufficient to pay and discharge the entire indebtedness on such Debt Securities and coupons of such series for principal (and premium, if any) and interest, and any mandatory sinking fund, repayment or analogous payments thereon, on
the scheduled due dates therefor to the date of such deposit (in the case of Debt Securities and coupons which have become due and payable) or to the Stated Maturity or Redemption Date, if any, and all Repayment Dates (in the case of Debt Securities
repayable at the option of the Holders thereof); provided, however, that in the event a petition for relief under Title 11 of the United States Code or a successor statute is filed with respect to the Issuer within 91 days after the
deposit, the obligations of the Issuer under the Indenture with respect to the Debt Securities of such series shall not be deemed terminated or discharged, and in such event the Trustee shall be required to return the deposited money and Eligible
Instruments then held by the Trustee to the Issuer or the Guarantor, as applicable; 

(2)    the Issuer or the Guarantor has paid or caused to be paid all other sums payable
hereunder by the Issuer or the Guarantor; and 
 (3)    the Issuer or the Guarantor has
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Issuer and the Guarantor to the Trustee under
Section 607 and, if money or Eligible Instruments shall have been deposited with the Trustee pursuant to Subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 402 and the last paragraph of
Section 1003 shall survive such satisfaction and discharge. 
 Section
402.    Application of Trust Money and Eligible Instruments. 

(a)    Subject to the provisions of the last paragraph of Section 1003, all money and Eligible
Instruments deposited with the Trustee pursuant to Section 401, 403 or 1501 shall be held in trust and such money and the principal and interest received on such Eligible Instruments shall be applied by it, in accordance with the provisions of
the Debt Securities, the coupons and this 

  
 36 

 
Indenture, to the payment, either directly or through any Paying Agent (including the Issuer or the Guarantor acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled
thereto, of the principal (and premium, if any) and interest for whose payment such money or Eligible Instruments have been deposited with the Trustee. 

(b)    The Trustee shall deliver or pay to the Issuer or the Guarantor, as applicable, from time to time
upon Issuer Request or Guarantor Request, as applicable, any Eligible Instruments or money held by it as provided in Section 403 or 1501 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a
written certification thereof delivered to the Trustee, are then in excess of the amount thereof which then would have been required to be deposited for the purpose for which such Eligible Instruments or money were deposited or received. 

(c)    If this Section 402(c) is specified, as contemplated by Section 301, to be applicable to
the Debt Securities of any series, the Trustee shall deliver to the Issuer or the Guarantor, as applicable, from time to time upon Issuer Request or Guarantor Request, as applicable, any Eligible Instruments held by it as provided in
Section 403 or 1501, provided that the Issuer or the Guarantor in substitution therefor simultaneously delivers to the Trustee, money or other Eligible Instruments which, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, would then be sufficient to satisfy the Issuer’s payment obligations in respect of the Debt Securities in the manner contemplated by Section 403 or 1501.

 Section 403.    Satisfaction, Discharge and Defeasance of Debt Securities of any
Series. 
 If this Section 403 is specified, as contemplated by Section 301, to be applicable to Debt
Securities of any series, then, notwithstanding Section 401, (i) the Issuer shall be deemed to have paid and discharged the entire indebtedness on all the Outstanding Debt Securities of any such series and related coupons; (ii) the
provisions of this Indenture as it relates to such Outstanding Debt Securities and related coupons shall no longer be in effect (except as to the rights of Holders of Debt Securities to receive, from the trust fund described in subparagraph (1)
below, payment of (x) the principal of (and premium, if any) and any installment of principal of (and premium, if any) or interest on such Debt Securities and related coupons on the Stated Maturity of such principal (and premium, if any) or
installment of principal (and premium, if any) or interest or (y) any mandatory sinking fund, repayment or analogous payments applicable to the Debt Securities of that series on that day on which such payments are due and payable in accordance
with the terms of this Indenture and of such Debt Securities, the Issuer’s obligations with respect to such Debt Securities under Sections 304, 305, 306, 1002, 1003 and 1004 and the rights, powers, trusts, duties and immunities of the
Trustee hereunder, including those under Section 607 hereof); and (iii) the Trustee, at the expense of the Issuer, shall, upon Issuer Order, execute proper instruments acknowledging satisfaction and discharge of such indebtedness, when

  
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 (1)    either 

(A)    with respect to all Outstanding Debt Securities of such series and related
coupons, with reference to this Section 403, the Issuer or the Guarantor has deposited or caused to be deposited with the Trustee (or another trustee satisfying the requirements of Section 609 who shall agree to comply with the provisions
of this Section 403 applicable to it) irrevocably, as trust funds in trust, money and/or, to the extent such Debt Securities are denominated and payable in Dollars only, Eligible Instruments the payments of principal and interest on which when
due (and without reinvestment and providing no tax liability will be imposed upon the Trustee or the Holders of such Debt Securities) will provide money in such amounts as will (together with any money irrevocably deposited in trust with the
Trustee, without investment) be sufficient to pay and discharge (i) the principal of (and premium, if any) and interest on the Outstanding Debt Securities of that series and related coupons on the Stated Maturity of such principal or interest
or, if such series may be redeemed by the Issuer prior to the Stated Maturity thereof, and the Issuer shall have given irrevocable instructions to the Trustee to effect such redemption, at the date fixed for such redemption pursuant to Article
Eleven, and (ii) any mandatory sinking fund payments or analogous payments applicable to Debt Securities of such series on the date on which such payments are due and payable in accordance with the terms of this Indenture and of such Debt
Securities; or 
 (B)    the Issuer or the Guarantor has properly fulfilled such other
means of satisfaction and discharge as is specified, as contemplated by Section 301, to be applicable to the Debt Securities of such series; 

(2)    the Issuer or the Guarantor has paid or caused to be paid all sums payable with
respect to the Outstanding Debt Securities of such series and related coupons; 

(3)    such deposit will not result in a breach of, or constitute a default under, this
Indenture or any other agreement or instrument to which the Issuer or the Guarantor is a party or by which it is bound; 

(4)    no Covenant Breach or Event of Default or event which, with the giving of notice or
lapse of time, or both, would become a Covenant Breach or Event of Default with respect to the Debt Securities of such series shall have occurred and be continuing on the date of such deposit and no Event of Default under Section 501(3) or
Section 501(4) or event which, with the giving of notice or lapse of time, or both, would become an Event of Default under Section 501(3) or Section 501(4) shall have occurred and be continuing on the 91st day after such date; provided, however, that should that condition fail to be satisfied on or before such 91st day, the Trustee shall promptly,
upon satisfactory receipt of evidence of such failure, return such deposit to the Issuer or the Guarantor, as applicable; 

(5)    the Issuer or the Guarantor has delivered to the Trustee an Opinion of Counsel to
the effect that (a) the Issuer or the Guarantor has received from, or there has been published by, the Internal Revenue Service a ruling, or (b) since the date of this 

  
 38 

 
Indenture there has been a change in applicable Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of Debt
Securities and related coupons of such series will not recognize income, gain or loss for Federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to Federal income tax on the same amount and in the same
manner and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred; 

(6)    if the Debt Securities of that series are then listed on any domestic or foreign
securities exchange, the Issuer or the Guarantor shall have delivered to the Trustee an Opinion of Counsel to the effect that such deposit, defeasance and discharge will not cause such Debt Securities to be delisted; 

(7)    such deposit shall have been effected in compliance with any additional terms,
conditions or limitations which may be imposed on the Issuer in connection therewith pursuant to Section 301; and 

(8)    the Issuer or the Guarantor has delivered to the Trustee an Officers’
Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of the entire indebtedness of all Outstanding Debt Securities and related coupons have been complied
with. 
 Any deposits with the Trustee referred to in Section 403(1)(A) above shall be irrevocable and shall be made
under the terms of an escrow or trust agreement in form and substance satisfactory to the Trustee. If any Outstanding Debt Securities of such series are to be redeemed prior to their Stated Maturity, whether pursuant to any optional redemption
provisions or in accordance with any mandatory sinking fund requirement, the applicable escrow or trust agreement shall provide therefor and the Issuer 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 Issuer. 
 Upon the satisfaction of the conditions set
forth in this Section 403 with respect to all the Outstanding Debt Securities of any series, the terms and conditions of such series, including the terms and conditions with respect thereto set forth in this Indenture, shall no longer be
binding upon, or applicable to, the Issuer or the Guarantor; provided that the Issuer shall not be discharged from any payment obligations, and the Guarantor shall not be discharged under the Guarantee, in respect of Debt Securities of such
series which are deemed not to be Outstanding under clause (iii) of the definition thereof if such obligations continue to be valid obligations of the Issuer under applicable law. 

Notwithstanding the cessation, termination and discharge of all obligations, covenants and agreements (except as provided
above in this Section 403) of the Issuer and the Guarantor under this Indenture with respect to any series of Debt Securities, the obligations of the Issuer and the Guarantor to the Trustee under Section 607, and the obligations of the
Trustee under Section 402 and the last paragraph of Section 1003, shall survive with respect to such series of Debt Securities. 

  
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 ARTICLE FIVE 

Remedies 

Section 501.    Events of Default. 

“Event of Default”, wherever used herein with respect to Debt Securities of any series, means any one of the
following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law, pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body): 
 (1)    default in the payment of any interest
upon any Debt Security of such series or a related coupon, if any, when it becomes due and payable, and continuance of such default for a period of 30 days; or 

(2)    default in the payment of the principal of (or premium, if any, on) any Debt
Security of such series at its Maturity, and continuance of such default for a period of 30 days; or 

(3)    the entry by a court having jurisdiction of (A) a decree or order for relief
in respect of the Issuer in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency or similar law or (B) a decree or order adjudging the Issuer a bankrupt or insolvent, or approving a petition seeking
receivership, insolvency or liquidation of or in respect of the Issuer under any applicable Federal or State law, or appointing a receiver, liquidator, trustee or similar official of the Issuer, or ordering the winding up or liquidation of its
affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days; or 

(4)    the commencement by the Issuer of a voluntary case or proceeding under any
applicable Federal or State bankruptcy, insolvency or similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, the appointment of a receiver for the Issuer under any applicable Federal or State bankruptcy, insolvency
or similar law following consent by the Board of Directors of the Issuer to such appointment, or the entry of a decree or order for relief in respect of the Issuer in an involuntary case or proceeding under any applicable Federal or State
bankruptcy, insolvency, receivership, liquidation or similar law following the Issuer’s consent to such decree or order; or 

(5)    the Guarantee ceases to be in full force and effect, other than in accordance with
the terms of this Indenture, or the Guarantor denies or disaffirms its obligations under the Guarantee, provided that no Event of Default described in this clause (5) of Section 501 shall occur as a result of, or because it is
related directly or indirectly to, the insolvency of the Guarantor or the commencement of any proceedings relative to the Guarantor under Title 11 of the United States Code, or the appointment of a receiver for

  
 40 

 
the Guarantor under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 or the Federal Deposit Insurance Corporation having separately repudiated the Guarantee in
any receivership of the Guarantor, or the commencement of any proceeding under any other applicable federal or state bankruptcy, insolvency, resolution or other similar law, or a receiver, assignee or trustee in bankruptcy or reorganization,
liquidator, sequestrator or similar official having been appointed for or having taken possession of the Guarantor or its property, or the institution of any other comparable judicial or regulatory proceedings relative to the Guarantor, or to the
creditors or property of the Guarantor; or 
 (6)    any other Event of Default, if any,
provided with respect to Debt Securities of such series specified as contemplated by Section 301. 
 Section
502.    Acceleration of Maturity; Rescission and Annulment. 
 If an Event of Default with
respect to Debt Securities of any series at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of Outstanding Debt Securities of such series may declare the
principal amount (or, if the Debt Securities of such series are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of such series) of and all accrued but unpaid interest on all the Debt
Securities of such series to be due and payable immediately, by a notice in writing to the Issuer and the Guarantor (and to the Trustee if given by such Holders), and upon any such declaration such principal amount (or specified amount) shall become
immediately due and payable. Upon payment of such amount, all obligations of the Issuer and the Guarantor in respect of the payment of principal of the Debt Securities of such series shall terminate. 

At any time after such a declaration of acceleration with respect to Debt Securities of any series has been made and before a
judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Debt Securities of such series, by written notice to the
Issuer, the Guarantor and the Trustee, may rescind and annul such declaration and its consequences if 

(1)    the Issuer or the Guarantor has paid or deposited with the Trustee a sum sufficient
to pay 
 (A)    all overdue installments of interest on all Debt Securities of such
series and any related coupons, 
 (B)    the principal of (and premium, if any, on)
any Debt Securities of such series which have become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates prescribed therefor in such Debt Securities, 

  
 41 

 (C)    to the extent that payment of
such interest is lawful, interest upon overdue installments of interest on each Debt Security and any related coupons at the rate or rates prescribed therefor in such Debt Securities, and 

(D)    all sums paid or advanced by the Trustee hereunder and the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; 
 and 

(2)    all Events of Default with respect to Debt Securities of such series, other than
the non-payment of the principal of Debt Securities of such series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. 

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

For the avoidance of doubt, except to the extent otherwise specifically provided pursuant to Section 301 with respect to
a particular series of Debt Securities, neither the Trustee nor any Holders shall be entitled to accelerate the Maturity of any Debt Security, nor shall the Maturity of any Debt Security be otherwise accelerated, as a result of a Covenant Breach.

 Section 503.    Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Issuer covenants that if: 

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

(2)    default is made in the payment of the principal of (or premium, if any, on) any
Debt Security at the Maturity thereof, 
 the Issuer will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such
Debt Securities and coupons, the amount then due and payable on such Debt Securities and coupons for principal (and premium, if any) and interest and, to the extent that payment of such interest shall be legally enforceable, interest upon the
overdue principal (and premium, if any) and, upon overdue installments of interest, at the rate or rates prescribed therefor in such Debt Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and
expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

If the Issuer fails to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express
trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceeding to judgment or final decree, and may enforce the same against the Issuer or any other obligor upon such Debt Securities
and 

  
 42 

 
coupons and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Issuer or any other obligor upon such Debt Securities and coupons,
wherever situated. 
 If a Covenant Breach or Event of Default with respect to Debt Securities of any series occurs and is
continuing, the Trustee may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Debt Securities of such series and any related coupons by such appropriate judicial proceedings as the Trustee shall deem most
effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

Section 504.    Trustee May File Proofs of Claim. 

In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceedings, or any voluntary or involuntary case under the Federal bankruptcy laws as now or hereafter constituted, relative to the Issuer or any other obligor upon the Debt Securities of a particular series or any
related coupons or the property of the Issuer or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of such Debt Securities shall then be due and payable as therein expressed or by declaration or otherwise
and irrespective of whether the Trustee shall have made any demand on the Issuer for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceedings or otherwise, 

(1)    to file and prove a claim for the whole amount of principal (and premium, if any)
and interest owing and unpaid in respect of the Debt Securities of such series and any appurtenant coupons and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim
for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders allowed in such judicial proceeding, and 

(2)    to collect and receive any moneys or other property payable or deliverable on any
such claims and to distribute the same; 
 and any receiver, assignee, trustee, custodian, liquidator, sequestrator or other similar
official in any such proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it
for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607. 

Nothing herein contained shall be deemed to authorize the Trustee to exercise any remedy against the Issuer or the Guarantor
as a result of, or because it is related directly or indirectly to, the insolvency of the Guarantor or the commencement of any proceedings relative to the Guarantor under Title 11 of the United States Code, or the appointment of a receiver for the
Guarantor under Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 

  
 43 

 
2010 or the Federal Deposit Insurance Corporation having separately repudiated the Guarantee in any receivership of the Guarantor, or the commencement of any proceeding under any other applicable
federal or state bankruptcy, insolvency, resolution or other similar law, or a receiver, assignee or trustee in bankruptcy or reorganization, liquidator, sequestrator or similar official having been appointed for or having taken possession of the
Guarantor or its property, or the institution of any other comparable judicial or regulatory proceedings relative to the Guarantor, or to the creditors or property of the Guarantor. Notwithstanding the foregoing, the Trustee is authorized to
exercise any remedy against the Issuer as a result of an Event of Default described in Section 501(3) or (4). 

Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of
any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Debt Securities or coupons or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding. 
 Section 505.    Trustee May Enforce Claims without Possession of Debt
Securities or Coupons. 
 All rights of action and claims under this Indenture (including the Guarantee) or the Debt
Securities or coupons may be prosecuted and enforced by the Trustee without the possession of any of the Debt Securities or coupons or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall
be brought in its own name, as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the
ratable benefit of the Holders of the Debt Securities and coupons in respect of which such judgment has been recovered. 

Section 506.    Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates
fixed by the Trustee and, in case of the distribution of such money on account of principal (and premium, if any) or interest, upon presentation of the Debt Securities or coupons, or both, as the case may be, and the notation thereon of the payment
if only partially paid and upon surrender thereof if fully paid: 
 FIRST:To the payment of all amounts due
the Trustee under Section 607; 
 SECOND:        To the payment
of the amounts then due and unpaid for principal of (and premium, if any) and interest on the Debt Securities and any coupons, 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 Debt Securities and any coupons for principal (and premium, if any) and interest, respectively. The Holders of each series of Debt Securities denominated in any composite currency or a
Foreign Currency and any matured coupons relating thereto shall be entitled to receive a ratable portion of the amount determined by the Exchange Rate Agent by converting the principal 

  
 44 

 
amount Outstanding of such series of Debt Securities and matured but unpaid interest on such series of Debt Securities in the currency in which such series of Debt Securities is denominated into
Dollars at the Exchange Rate as of the date of declaration of acceleration of the Maturity of the Debt Securities; and 

THIRD:          The balance, if any, to the Issuer or the Guarantor. 

Section 507.    Limitation on Suits. 

No Holder of any Debt Securities of any series or any related coupons shall have any right to institute any proceeding,
judicial or otherwise, with respect to this Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 

(1)    such Holder has previously given written notice to the Trustee of a continuing
Covenant Breach or Event of Default with respect to the Debt Securities of such series; 

(2)    the Holders of not less than 25% in principal amount of the Outstanding Debt
Securities of such series shall have made written request to the Trustee to institute proceedings in respect of such Covenant Breach or Event of Default in its own name as Trustee hereunder; 

(3)    such Holder or Holders have offered to the Trustee reasonable indemnity
satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request; 

(4)    the Trustee for 60 days after its receipt of such notice, request and offer of
indemnity has failed to institute any such proceeding; and 
 (5)    no direction
inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Debt Securities of such series; 

it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing
of, any provision of this Indenture to affect, disturb or prejudice the rights of any other such Holders (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly
prejudicial to such Holders), or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of
such Holders. 
 Section 508.    Unconditional Right of Holders to Receive Principal, Premium
and Interest. 
 Notwithstanding any other provision in this Indenture, the Holder of any Debt Security or coupon shall
have the right which is absolute and unconditional to receive payment of 

  
 45 

 
the principal of (and premium, if any) and (subject to Section 307) interest on such Debt Security or payment of such coupon on the respective Stated Maturity or Maturities expressed in such
Debt Security or coupon (or, in the case of redemption or repayment, on the Redemption Date or the Repayment Date, as the case may be) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the
consent of such Holder. 
 Section 509.    Restoration of Rights and Remedies. 

If the Trustee or any Holder has instituted any proceedings to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case the Issuer, the Guarantor, the Trustee and the Holders shall, subject to any determination
in such proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

Section 510.    Rights and Remedies Cumulative. 

Except as otherwise provided in Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to
the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law
or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

Section 511.    Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Debt Security or coupon to exercise any right or remedy accruing
upon any Covenant Breach or Event of Default shall impair any such right or remedy or constitute a waiver of any such Covenant Breach or Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the
Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

Section 512.    Control by Holders of Debt Securities. 

The Holders of a majority in principal amount of the Outstanding Debt Securities of any series shall have the right to direct
the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Debt Securities of such series, provided, that 

(1)    such direction shall not be in conflict with any rule of law or with this
Indenture; 
 (2)    subject to the provisions of Section 601, the Trustee shall
have the right to decline to follow any such direction if the Trustee in good faith shall, by a Responsible 

  
 46 

 
Officer or Responsible Officers of the Trustee, determine that the proceedings so directed would be unjustly prejudicial to the Holders of Debt Securities of such series not joining in any such
direction; and 
 (3)    the Trustee may take any other action deemed necessary by the
Trustee which is not inconsistent with such direction. 
 Section 513.    Waiver of Past
Defaults. 
 The Holders of not less than a majority in principal amount of the Outstanding Debt Securities of any
series may on behalf of the Holders of all the Debt Securities of any such series and any related coupons waive any past default hereunder with respect to such series and its consequences, except a default 

(1)    in the payment of the principal of (or premium, if any) or interest on any Debt
Security of such series, or 
 (2)    in respect of a covenant or provision hereof which
under Article Nine cannot be modified or amended without the consent of the Holder of each Outstanding Debt Security of such series or coupons affected. 

Upon any such waiver, such default shall cease to exist, and any Covenant Breach or Event of Default arising therefrom shall
be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 514.    Undertaking for Costs. 

All parties to this Indenture agree, and each Holder of any Debt Security or coupon by his acceptance thereof shall be deemed
to have agreed, that any court may in its discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, the filing by
any party litigant in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit,
having a due regard to the merits and good faith of the claims or defenses made by such party litigant, but the provisions of this Section shall not apply to any suit instituted by the Issuer, the Guarantor or the Trustee, to any suit instituted by
any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Outstanding Debt Securities of any series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of (or premium,
if any) or interest on any Debt Security or the payment of any coupons on or after the respective Stated Maturity or Maturities expressed in such Debt Security or coupon (or, in the case of redemption or repayment, on or after the Redemption Date or
Repayment Date, as the case may be). 

  
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 Section 515.    Waiver of Stay or Extension
Laws. 
 The Issuer covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or
plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law whenever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Issuer (to
the extent that it may lawfully do so) hereby expressly waives all benefits or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the
execution of every such power as though no such law had been enacted. 
 ARTICLE SIX 

The Trustee 

Section 601.    Certain Duties and Responsibilities. 

(a)    Except during the continuance of a Covenant Breach or Event of Default, 

(i)     the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(ii)    in the absence of bad faith on its part, the Trustee may conclusively rely, as to
the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions
which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or
investigate the accuracy of mathematical calculations or other facts stated therein). 
 (b)    In case
a Covenant Breach or Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would
exercise or use under the circumstances in the conduct of his or her own affairs. 
 (c)    No
provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that 

(i)      this subsection shall not be construed to limit the effect of
subsection (a) of this Section 601; 

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

(iii)    the Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Debt Securities of any series, determined as provided in Sections 101, 104 and 512, relating to the time, method and
place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Debt Securities of such series; and 

(iv)    no provision of this Indenture shall require the Trustee to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers. 

(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. 

Section 602.    Notice of Default. 

If a default occurs hereunder with respect to Debt Securities of any series the Trustee shall transmit by mail to all Holders
of Debt Securities of such series notice of such default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any default of the character specified in Clause (1) under the definition of
“Covenant Breach” in Section 101 with respect to Debt Securities of such series no such notice to Holders shall be given until at least 30 days after the occurrence thereof; and provided further, that, except in the case of a default
in the payment of principal of (or premium, if any) or interest on any Debt Security of such series or related coupons or in the payment of any sinking fund installment with respect to Debt Securities of such series, the Trustee shall be protected
in withholding such notice if and so long as the board of directors, the executive committee or a trust committee of directors and/or a Responsible Officer of the Trustee in good faith determines that the withholding of such notice is in the
interest of the Holders of the Debt Securities of such series. For the purpose of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, a Covenant Breach or Event of Default with
respect to Debt Securities of such series. 
 Section 603.    Certain Rights of Trustee.

 Except as otherwise provided in Section 601: 

(a)    the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting
upon any signature, resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or document (whether in its original or facsimile form) believed by it to
be genuine and to have been signed or presented by the proper party or parties; 

  
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 (b)    any request or direction of the Issuer or the
Guarantor mentioned herein shall be sufficiently evidenced by an Issuer Request or Issuer Order or Guarantor Request or Guarantor Order, as applicable, and any resolution of the Board of Directors shall be sufficiently evidenced by a Board
Resolution; 
 (c)    whenever in the administration of this Indenture the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an
Officers’ Certificate; 
 (d)    the Trustee may consult with counsel of its selection and the
advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(e)    the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by
this Indenture at the request or direction of any of the Holders of Debt Securities of such series or any related coupons pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to it
against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 

(f)    the Trustee shall not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such
further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer or the
Guarantor, personally or by agent or attorney, other than any such books or records containing information as to the affairs of the customers of the Issuer or the Guarantor or any of their subsidiaries; provided that the Trustee may examine
such books and records relating to customers to the extent that such books and records contain information as to any payments made to such customers in their capacity as Holders of Debt Securities; and provided further that the Trustee shall
incur no liability or additional liability of any kind by reason of such inquiry or investigation; 

(g)    the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder
either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; no Exchange Rate Agent, Global Exchange
Agent, Depositary or Paying Agent shall be deemed an agent of the Trustee and the Trustee shall not be responsible for any act or omission by any of them; 

(h)    the rights, privileges, protections, immunities and benefits given to the Trustee, including,
without limitation, in its right to be indemnified, are extended to, and shall be 

  
 50 

 
enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian or other Person employed by the Trustee to act hereunder in accordance with the provisions hereof; and

 (i)    the Trustee shall not be required to give any bond or surety in respect of the performance of
its powers and duties hereunder. 
 Section 604.    Not Responsible for
Recitals or Issuance of Debt Securities. 
 The recitals contained herein and in the Debt Securities, except the
Trustee’s certificates of authentication, and in any coupons, and the information in any registration statement, including all attachments thereto, except information provided by the Trustee therein, shall be taken as the statements of the
Issuer or the Guarantor, as applicable, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Debt Securities of any series or any coupons.
The Trustee shall not be accountable for the use or application by the Issuer of any Debt Securities or the proceeds thereof. The Trustee shall not be responsible for and makes no representations to the Issuer’s ability or authority to issue
Bearer Securities or the lawfulness thereof. 
 Section 605.    May Hold
Debt Securities or Coupons. 
 The Trustee, any Paying Agent, the Security Registrar or any other agent of the Issuer,
the Guarantor or the Trustee, in its individual or any other capacity, may become the owner or pledgee of Debt Securities and coupons, and, subject to Sections 608 and 613, may otherwise deal with the Issuer and the Guarantor with the same rights it
would have if it were not Trustee, Paying Agent, Security Registrar or such agent. 
 Section
606.    Money Held in Trust. 
 Money held by the Trustee or any Paying Agent in trust
hereunder need not be segregated from other funds except to the extent required by law. Neither the Trustee nor any Paying Agent shall be under any liability for interest on any money received by it hereunder except as otherwise agreed in writing
with the Issuer or the Guarantor, as applicable. 

Section 607.    Compensation and Reimbursement. 

Each of the Issuer and the Guarantor, jointly and severally, agrees 

(1)    to pay to the Trustee from time to time such compensation for all services rendered
by it hereunder which shall have been separately agreed to from time to time in writing by the Issuer, the Guarantor and the Trustee (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an
express trust); 
 (2)    except as otherwise expressly provided herein, to reimburse
the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable 

  
 51 

 
compensation and the expenses and disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its negligence or willful misconduct; and

 (3)    to fully indemnify the Trustee for, and to hold it harmless against, any and
all claims, losses, liabilities, damages or expenses (including taxes other than taxes based upon the income of the Trustee) incurred without negligence or willful misconduct on its part, arising out of or in connection with the acceptance or
administration of this trust or performance of its duties hereunder, including the costs and expenses of defending itself against any claim (whether asserted by the Issuer, the Guarantor, any Holder or any other Person) or liability in connection
with the exercise or performance of any of its powers or duties hereunder, including the reasonable costs and expenses of enforcing this Indenture against the Issuer and/or the Guarantor (including this section). 

As security for the performance of the obligations of the Issuer and the Guarantor under this Section the Trustee shall have
a claim prior to the Debt Securities and any coupons upon all property and funds held or collected by the Trustee as such, except funds held in trust for the payment of principal of (and premium, if any) or interest on particular Debt Securities or
any coupons. 
 Section 608.    Disqualification; Conflicting
Interests. 
 If the Trustee has or shall acquire any conflicting interest within the meaning 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. To the extent permitted by such Act, the Trustee shall not be
deemed to have a conflicting interest with respect to Debt Securities of any series by virtue of being a trustee under this Indenture with respect to Debt Securities of more than one series or any other indenture between the Trustee and the Issuer
or the Guarantor. For the purpose of determining whether a conflicting interest exists within the meaning of the Trust Indenture Act, “default” means any event which is, or after notice or lapse of time or both would become, a Covenant
Breach or Event of Default. 
 Section 609.    Corporate Trustee Required; Eligibility.

 There shall at all times be a Trustee hereunder which shall be a corporation that is eligible pursuant to the Trust
Indenture Act to act as such and organized and doing business under the laws of the United States, any State thereof or the District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of
at least $5,000,000, and subject to supervision or examination by Federal or State authority; provided, however, that if Section 310(a) of the Trust Indenture Act or the rules and regulations of the Commission under the Trust Indenture
Act at any time permit a corporation organized and doing business under the laws of any other jurisdiction to serve as trustee of an indenture qualified under the Trust Indenture Act, this Section 609 shall be automatically amended to permit a
corporation organized and doing business under the laws of any such other jurisdiction to serve as Trustee hereunder. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid
supervising or examining authority, then for the purposes of this 

  
 52 

 
Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any
time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign promptly in the manner and with the effect hereinafter specified in this Article. 

Section 610.    Resignation and Removal; Appointment of Successor. 

(a)    No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to
this Article shall become effective until the acceptance of appointment by the successor Trustee under Section 611. 

(b)    The Trustee may resign at any time with respect to the Debt Securities of one or more series by
giving written notice thereof to the Issuer and the Guarantor. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days after the giving of such notice of resignation, the resigning Trustee
may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities of such series. 

(c)    The Trustee may be removed at any time with respect to the Debt Securities of any series by Act of
the Holders of a majority in principal amount of the Outstanding Debt Securities of such series, delivered to the Trustee and to the Issuer and the Guarantor. If an instrument of acceptance by a successor Trustee shall not have been delivered to the
Trustee within 30 days of receipt of such Act specifying removal, the removed Trustee may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities
of such series. 
 (d)    If at any time: 

(1)    the Trustee shall fail to comply with Section 608 with respect to the Debt
Securities of any series after written request therefor by the Issuer, the Guarantor or by any Holder who has been a bona fide Holder of a Debt Security of such series for at least six months, or 

(2)    the Trustee shall cease to be eligible under Section 609 with respect to any
series of Debt Securities and shall fail to resign after written request therefor by the Issuer, the Guarantor or by any such Holder, or 

(3)    the Trustee shall become incapable of acting with respect to any series of Debt
Securities or a decree or order for relief by a court having jurisdiction in the premises shall have been entered in respect of the Trustee in an involuntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other
applicable Federal or State bankruptcy, insolvency or similar law; or a decree or order by a court having jurisdiction in the premises shall have been entered for the appointment of a receiver, custodian, liquidator, assignee, trustee, sequestrator
or other similar official of the Trustee or of its property or affairs, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation, winding up or liquidation, or

  
 53 

 (4)    the Trustee shall commence a
voluntary case under the Federal bankruptcy laws, as now or hereafter constituted, or any other applicable Federal or State bankruptcy, insolvency or similar law or shall consent to the appointment of or taking possession by a receiver, custodian,
liquidator, assignee, trustee, sequestrator or other similar official of the Trustee or its property or affairs, or shall make an assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they
become due, or shall take corporate action in furtherance of any such action, 
 then, in any such case, (i) the Issuer by a Board
Resolution or the Guarantor by a Board Resolution may remove the Trustee with respect to such series or (ii) subject to Section 514, any Holder who has been a bona fide Holder of a Debt Security of any series for at least six months may,
on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee for the Debt Securities of such series and the appointment of a successor Trustee. In addition, the Issuer or the
Guarantor may remove the Trustee if the Issuer shall determine by a Board Resolution or the Guarantor shall determine by a Board Resolution that the services provided by the Trustee hereunder may be obtained at a substantially lower cost to the
Issuer. 
 (e)    If the Trustee shall resign, be removed or become incapable of acting with respect to
any series of Debt Securities, or if a vacancy shall occur in the office of Trustee for any cause, with respect to the Debt Securities of one or more series, the Issuer by a Board Resolution and the Guarantor by a Board Resolution, shall promptly
appoint a successor Trustee or Trustees with respect to the Debt Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Debt Securities of one or more or all of such series and
that at any time there shall be only one Trustee with respect to the Debt Securities of any particular series) and shall comply with the applicable requirements of Section 611. If, within one year after such resignation, removal or
incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Debt Securities of any series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Debt Securities of such series
delivered to the Issuer, the Guarantor and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment, become the successor Trustee with respect to the Debt Securities of such series and to that
extent supersede the successor Trustee appointed by the Issuer and the Guarantor. If no successor Trustee with respect to the Debt Securities of any series shall have been so appointed by the Issuer and the Guarantor or the Holders and accepted
appointment in the manner hereinafter provided, any Holder who has been a bona fide Holder of a Debt Security of such series for at least six months may, subject to Section 514, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Debt Securities of such series. 

(f)    The Issuer shall give notice of each resignation and each removal of the Trustee with respect to
the Debt Securities of any series and each appointment of a successor Trustee with respect to the Debt Securities of any series by mailing written notice of such event by first-class mail, postage prepaid, to the Holders of Registered Securities, if
any, of such series as their names and addresses appear in the Security Register and, if Debt Securities of such series are issuable as Bearer Securities, by publishing notice of such event once in an Authorized Newspaper

  
 54 

 
in each Place of Payment located outside the United States. Each notice shall include the name of the successor Trustee with respect to the Debt Securities of such series and the address of its
Corporate Trust Office. 
 Section 611.    Acceptance of Appointment by Successor. 

(a)    In the case of an appointment hereunder of a successor Trustee with respect to all Debt
Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Issuer and the Guarantor and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the
retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on request of the Issuer and the
Guarantor or the successor Trustee, such retiring Trustee shall, upon payment of its charges due under Section 607 hereof, execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the
retiring Trustee, and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 

(b)    In the case of the appointment hereunder of a successor Trustee with respect to the Debt
Securities of one or more (but not all) series, the Issuer, the Guarantor, the retiring Trustee upon payment of its charges and each successor Trustee with respect to the Debt Securities of one or more series shall execute and deliver an indenture
supplemental hereto wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights,
powers, trusts and duties of the retiring Trustee with respect to the Debt Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Debt
Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Debt Securities of that or those series as to which the
retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts
hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be
trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring
Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to
the Debt Securities of that or those series to which the appointment of such successor Trustee relates; but, on the request of the Issuer and the Guarantor or any successor Trustee, such retiring Trustee shall duly assign, transfer and deliver to
such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Debt Securities of that or those series to which the appointment of such successor Trustee relates. 

(c)    Upon request of any such successor Trustee, the Issuer and the Guarantor shall execute any and all
instruments for more fully and certainly vesting in and confirming to such 

  
 55 

 
successor Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

(d)    No successor Trustee shall accept its appointment unless at the time of such acceptance such
successor Trustee shall be qualified and eligible under this Article. 
 Section
612.    Merger, Conversion, Consolidation or Succession to Business. 
 Any corporation into
which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially
all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the executing or filing of any paper or any further
act on the part of any of the parties hereto. In case any Debt Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt
such authentication and deliver the Debt Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Debt Securities. In case any Debt Securities shall not have been authenticated by such predecessor
Trustee, any such successor Trustee may authenticate and deliver such Debt Securities, in either its own name or that of its predecessor Trustee, with the full force and effect which this Indenture provides for the certificate of authentication of
the Trustee. 
 Section 613.    Preferential Collection of Claims Against Issuer and
Guarantor. 
 If and when the Trustee shall be or shall become a creditor, directly or indirectly, secured or
unsecured, of the Issuer or the Guarantor (or any other obligor upon the Debt Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding collection of claims against the Issuer or the Guarantor (or any such
other obligor). 
 Section 614.    Authenticating Agent. 

The Trustee shall upon Issuer request appoint one or more authenticating agents (including, without limitation, the Issuer or
any Affiliate thereof) with respect to one or more series of Debt Securities which shall be authorized on behalf of the Trustee in authenticating Debt Securities of such series in connection with the issue, delivery, registration of transfer,
exchange, partial redemption or repayment of such Debt Securities. Wherever reference is made in this Indenture to the authentication of Debt Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be
deemed to include authentication on behalf of the Trustee by an authenticating agent and a certificate of authentication executed on behalf of the Trustee by an authenticating agent. Each authenticating agent must be acceptable to the Issuer and,
except as otherwise specified pursuant to Section 301, must be a corporation organized and doing business under the laws of the United States or of any State, having a combined capital and surplus of at least $1,000,000, authorized under such
laws to do a trust business and subject to supervision or examination by Federal or State authorities or the equivalent foreign authority in the case of an 

  
 56 

 
authenticating agent who is not organized and doing business under the laws of the United States or of any State thereof or the District of Columbia. 

The Trustee hereby initially appoints Wells Fargo Bank, National Association as its authenticating agent. 

Any corporation succeeding to the corporate agency business of an authenticating agent shall continue to be an authenticating
agent without the execution or filing of any paper or any further act on the part of the Trustee or such authenticating agent. 

An authenticating agent may at any time resign with respect to one or more series of Debt Securities by giving written notice
of resignation to the Trustee and to the Issuer and the Guarantor. The Trustee may at any time terminate the agency of any authenticating agent with respect to one or more series of Debt Securities by giving written notice of termination to such
authenticating agent and to the Issuer and the Guarantor. Upon receiving such a notice of resignation or upon such a termination, or in case at any time an authenticating agent shall cease to be eligible in accordance with the provisions of this
Section, the Trustee promptly may appoint a successor authenticating agent. Any successor authenticating agent upon acceptance of its appointment hereunder shall become vested with all rights, powers and duties of its predecessor hereunder, with
like effect as if originally named as an authenticating agent herein. No successor authenticating agent shall be appointed unless eligible under the provisions of this Section. 

The Issuer agrees to pay to each authenticating agent from time to time reasonable compensation for its services under this
Section. 
 The provisions of Sections 104, 111, 306, 309, 603, 604, 605 and 607 shall be applicable to any
authenticating agent. 
 Pursuant to each appointment made under this Section, the Debt Securities of each series covered
by such appointment may have endorsed thereon, in lieu of the Trustee’s certificate of authentication, an alternate certificate of authentication in substantially the following form: 

  
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 This is one of the Debt Securities, of the series designated herein,
described in the within-mentioned Indenture. 
  

			
	CITIBANK, N.A.
		
	By	 	 
		 	As Authenticating Agent for the Trustee
		
	By	 	 
		 	Authorized Signatory

 
			
		
	Dated	 	 

 ARTICLE SEVEN 

Holders’ Lists and Reports By Trustee and Issuer 

Section 701.    Issuer to Furnish Trustee Names and Addresses of Holders. 

The Issuer will furnish or cause to be furnished to the Trustee with respect to Debt Securities of each series for which it
acts as Trustee: 
 (1)    semi-annually, not more than 15 days after the Regular
Record Date in respect of the Debt Securities of such series or on May 15 and November 15 of each year with respect to each series of Debt Securities for which there are no Regular Record Dates, a list, in such form as the Trustee may
reasonably require, of the names and addresses of the Holders of Registered Securities as of such Regular Record Date or May 1 or November 1, as the case may be, and 

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

provided, however, that if and so long as the Trustee shall be the Security Registrar, no such list need be furnished. 

Section 702.    Preservation of Information; Communications to Holders. 

(a)    The Trustee shall preserve, in as current a form as is reasonably practicable, the names and
addresses of Holders of Registered Securities contained in the most recent list furnished to the Trustee as provided in Section 701 and the names and addresses of Holders of 

  
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Registered Securities received by the Trustee in its capacity as Paying Agent or Security Registrar, if so acting. The Trustee may destroy any list furnished to it as provided in Section 701
upon receipt of a new list so furnished. The Trustee shall preserve for at least two years the names and addresses of Holders of Bearer Securities filed with the Trustee by such Holders. 

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

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

Section 703.    Reports by Trustee. 

(a) Within 60 days after May 15 of each year commencing with the first May 15 after the first issuance of Debt
Securities pursuant to this Indenture and at any other time required by the Trust Indenture Act, the Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture and such other matters as may be required
pursuant to the Trust Indenture Act in the manner required by the Trust Indenture Act. 
 (b) A copy of each such report
shall, at the time of such transmission to Holders, be filed by the Trustee with each stock exchange upon which any Debt Securities of such series are listed, with the Commission and also with the Issuer and the Guarantor. The Issuer will promptly
notify the Trustee in writing when any series of Debt Securities are listed on any stock exchange. 
 Section
704.    Reports by Issuer and Guarantor. 
 The Issuer and the Guarantor shall file with the
Trustee and the Commission, 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 time and in the manner pursuant to such Act; provided
that such information, documents or reports required to be filed with the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 shall be deemed filed with, and delivered to, the Trustee and transmitted
to the Holders at the same time as filed with the Commission, provided, however, that the Trustee shall have no obligation whatsoever to determine whether or not such information, documents or reports have been filed with the Commission or
transmitted to the Holders. 
 Delivery of such reports, information and documents to the Trustee is for informational
purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer’s or the Guarantor’s respective
compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 

  
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 ARTICLE EIGHT 

Consolidation, Merger, Conveyance, Transfer or Lease 

Section 801.    Issuer May Consolidate, etc. Only on Certain Terms. 

The Issuer shall not consolidate with or merge into any other corporation or convey, transfer or lease its properties and
assets substantially as an entirety to any Person other than any such conveyance, transfer or lease to one or more of the Guarantor’s Subsidiaries, unless: 

(1)    the corporation formed by such consolidation or into which the Issuer is merged or
the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Issuer substantially as an entirety shall be a corporation organized and existing under the laws of the United States of America, any political
subdivision thereof or any State thereof and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of (and premium, if
any) and interest (including all additional amounts, if any, payable pursuant to Section 1004) on all the Debt Securities and any related coupons and the performance of every covenant of this Indenture on the part of the Issuer to be performed
or observed; 
 (2)    immediately after giving effect to such transaction, no Covenant
Breach or Event of Default, and no event which, after notice or lapse of time, or both, would become a Covenant Breach or Event of Default, shall have happened and be continuing; and 

(3)    the Issuer has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel each stating that such consolidation, merger, conveyance, transfer or lease and such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been met.

 For the avoidance of doubt, the corporation or Person, as applicable, referred to in this Section 801 may be the Guarantor or any
Subsidiary of the Guarantor. 
 Section 802.    Guarantor May Consolidate, etc. Only on
Certain Terms. 
 The Guarantor shall not consolidate with or merge into any other corporation or convey, transfer or
lease its properties and assets substantially as an entirety to any Person other than any such conveyance, transfer or lease to one or more of its Subsidiaries, unless: 

(1)    the corporation formed by such consolidation or into which the Guarantor is merged
or the Person which acquires by conveyance or transfer, or which leases, the properties and assets of the Guarantor substantially as an entirety shall be a corporation organized and existing under the laws of the United States of America, any
political subdivision thereof or any State thereof and shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form satisfactory to the Trustee, the guarantee of the due and punctual payment of the
principal of (and premium, if 

  
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any) and interest (including all additional amounts, if any, payable pursuant to Section 1004) on all the Debt Securities and any related coupons to the extent provided in this Indenture and
the performance of every covenant of this Indenture on the part of the Guarantor to be performed or observed; 

(2)    immediately after giving effect to such transaction, no Covenant Breach or Event of
Default, and no event which, after notice or lapse of time, or both, would become a Covenant Breach or Event of Default, shall have happened and be continuing; and 

(3)    the Guarantor has delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel each stating that such consolidation, merger, conveyance, transfer or lease and such supplemental indenture comply with this Article and that all conditions precedent herein provided for relating to such transaction have been met.

 For the avoidance of doubt, the corporation or Person, as applicable, referred to in this Section 802 may be any Subsidiary of the
Guarantor. 
 Section 803.    Successor Corporation Substituted. 

Upon any consolidation with or merger into any other corporation, or any conveyance, transfer or lease of the properties and
assets of the Issuer substantially as an entirety to any Person pursuant to the requirements of Section 801(1), (2) and (3), the successor corporation formed by such consolidation or into which the Issuer is merged or to which such conveyance,
transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Issuer under this Indenture with the same effect as if such successor had been named as the Issuer herein, and thereafter, except in
the case of a lease, the Issuer (which term for this purpose shall mean the Person named as the “Issuer” in the first paragraph of this instrument or any successor corporation which shall theretofore have become such in the manner
presented in this Article) shall be relieved of all obligations and covenants under this Indenture and the Debt Securities and coupons. 

Upon any consolidation with or merger into any other corporation, or any conveyance, transfer or lease of the properties and
assets of the Guarantor substantially as an entirety to any Person pursuant to the requirements of Section 802(1), (2) and (3), the successor corporation formed by such consolidation or into which the Guarantor is merged or to which such
conveyance, transfer or lease is made shall succeed to, and be substituted for, and may exercise every right and power of, the Guarantor under this Indenture with the same effect as if such successor had been named as the Guarantor herein, and
thereafter, except in the case of a lease, the Guarantor (which term for this purpose shall mean the Person named as the “Guarantor” in the first paragraph of this instrument or any successor corporation which shall theretofore have become
such in the manner presented in this Article) shall be relieved of all obligations and covenants under this Indenture and the Guarantee. 

  
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 ARTICLE NINE 

Supplemental Indentures 

Section 901.    Supplemental Indentures without Consent of Holders. 

Without the consent of any Holders, the Issuer, when authorized by a Board Resolution, the Guarantor, when authorized by a
Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 

(1)     to evidence the merger of the Issuer with and into the Guarantor or the
succession of another corporation to the Issuer or the Guarantor, as applicable, and the assumption by such successor of the covenants of the Issuer or the Guarantor, as applicable, herein and in the Debt Securities contained and, in the case of the
merger of the Issuer with and into the Guarantor, to evidence the elimination of the Guarantee; or 

(2)     to add to the covenants of the Issuer or the Guarantor (and make any
corresponding change to the definition of “Covenant Breach” set forth in Section 101), for the benefit of the Holders of all or any series of Debt Securities or coupons (and if such covenants are to be for the benefit of less than all
series of Debt Securities or coupons, stating that such covenants are expressly being included solely for the benefit of such series), to convey, transfer, assign, mortgage or pledge any property to or with the Trustee, or to surrender any right or
power herein conferred upon the Issuer or the Guarantor; or 
 (3)     to add any
additional Events of Default (and if such Events of Default are to be applicable to less than all series of Debt Securities, stating that such Events of Default are expressly being included solely to be applicable to such series); or 

(4)     to add to, change or eliminate any of the provisions of this Indenture to
provide that Bearer Securities may be registrable as to principal, to change or eliminate any restrictions on the payment of principal (or premium, if any) on Registered Securities or of principal (or premium, if any) or any interest on Bearer
Securities, to permit Bearer Securities to be issued in exchange for Registered Securities of other authorized denominations or to permit or facilitate the issuance of Debt Securities in uncertificated form, provided any such action shall not
adversely affect the interests of the Holders of Debt Securities of any series or any related coupons in any material respect; or 

(5)     to change or eliminate any of the provisions of this Indenture,
provided that any such change or elimination (a) shall become effective only when there is no Debt Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such
provisions or (b) shall not apply to any Debt Security Outstanding; or 

(6)     to establish the form or terms of Debt Securities of any series as permitted
by Sections 201 and 301; or 

  
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 (7)     to conform the text of this
Indenture or the Debt Securities of any series to any provision of the section entitled “Description of Debt Securities of Wells Fargo Finance LLC” or any similarly captioned section in the prospectus, as supplemented by any applicable
prospectus supplement or pricing supplement, relating to the offering of such series of Debt Securities as set forth in an Officers’ Certificate; or 

(8)     to evidence and provide for the acceptance of appointment hereunder by a
successor Trustee with respect to the Debt Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than
one Trustee, pursuant to the requirements of Section 611(b); or 
 (9)     to
cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture,
provided such other provisions shall not adversely affect the interests of the Holders of Debt Securities of any series or any related coupons in any material respect; or 

(10)    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, provided such action shall not adversely affect the interest of Holders of Debt Securities of any series or any appurtenant coupons in any material respect. 

Section 902.    Supplemental Indentures with Consent of Holders. 

With the consent of the Holders of not less than a majority in principal amount of the Outstanding Debt Securities of all
series affected by such supplemental indenture, acting together as a class (including consents obtained in connection with a tender offer or exchange offer), by Act of said Holders delivered to the Issuer, the Guarantor and the Trustee, the Issuer,
when authorized by a Board Resolution, the Guarantor, when authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Indenture or of modifying in any manner the rights of the Holders under this Indenture of such Debt Securities of such series and any related coupons; provided, however, that no such supplemental
indenture shall, without the consent of the Holder of each Outstanding Debt Security or coupon affected thereby, 

(1)    change the Stated Maturity of the principal or any installment of principal of, or
any installment of interest on, any Debt Security, or reduce the principal amount thereof or the interest thereon or any premium payable upon redemption or repayment thereof, or change any obligation of the Issuer to pay additional amounts pursuant
to Section 1004 (except as contemplated by Section 801(1) and permitted by Section 901(1)), or reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon a declaration of acceleration
of the Maturity thereof pursuant to Section 502, or change any Place of Payment, or the coin or currency in which any Debt Security or the 

  
 63 

 
interest thereon or any coupon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof (or, in the case of redemption or
repayment, on or after the Redemption Date or Repayment Date, as the case may be), or 

(2)    reduce the percentage in principal amount of the Outstanding Debt Securities of any
series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their
consequences) provided for in this Indenture, or reduce the requirements of Section 1404 for quorum or voting, or 

(3)    modify any of the provisions of this Section, Section 513 or
Section 1006, 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 Debt 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 1006, or the deletion of this
proviso, in accordance with the requirements of Section 611(b) and 901(8), 

(4)    adversely affect the right to repayment, if any, of Debt Securities of any series
at the option of the Holders thereof, or 
 (5)    make any change in the Guarantee that
would adversely affect any Holder or release the Guarantor from the Guarantee other than pursuant to the terms of this Indenture. 

A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly
been included solely for the benefit of one or more particular series of Debt Securities, or which modifies the rights of the Holders of Debt 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 Debt Securities of any other series. 
 The Issuer may, but shall not be
obligated to, fix a record date for the purpose of determining the Persons entitled to consent to any indenture supplemental hereto. If a record date is fixed, the Holders on such record date or their duly designated proxies, and only such Persons,
shall be entitled to consent to such supplemental indenture, whether or not such Holders remain Holders after such record date; provided, that unless such consent shall have become effective by virtue of the requisite percentage having been
obtained prior to the date which is 90 days after such record date, any such consent previously given shall automatically and without further action by any Holder be canceled and of no further effect. 

It shall not be necessary for any Act of Holders of the Debt Securities under this Section to approve the particular form of
any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

  
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 Section 903.    Execution of Supplemental
Indentures. 
 In executing, or accepting the additional trusts created by, any supplemental indenture permitted by
this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution
of such supplemental indenture is authorized or permitted by this Indenture and that such supplemental indenture is a legal, valid and binding obligation of the Issuer and the Guarantor. The Trustee may, but shall not be obligated to, enter into any
such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 

Section 904.    Effect of Supplemental Indentures. 

Upon the execution of any supplemental indenture under this Article, this Indenture shall be modified in accordance
therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Debt Securities theretofore or thereafter authenticated and delivered hereunder and of any coupons appertaining thereto shall be
bound thereby. 
 Section 905.    Conformity with Trust Indenture Act. 

Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act
as then in effect. 
 Section 906.    Reference in Debt Securities to Supplemental
Indentures. 
 Debt Securities of any series authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Issuer shall so determine, new Debt Securities of any
series and any appurtenant coupons so modified as to conform, in the opinion of the Trustee and the Board of Directors, to any such supplemental indenture may be prepared and executed by the Issuer and authenticated and delivered by the Trustee in
exchange for Outstanding Debt Securities of such series and any appurtenant coupons. 
 ARTICLE TEN 

Covenants 

Section 1001.    Payment of Principal, Premium and Interest. 

The Issuer covenants and agrees for the benefit of each series of Debt Securities and any appurtenant coupons that it will
duly and punctually pay the principal of (and premium, if any) and interest on the Debt Securities and any appurtenant coupons in accordance with the terms of the Debt Securities, any appurtenant coupons and this Indenture. Any interest due on
Bearer Securities 

  
 65 

 
on or before Maturity, other than additional amounts, if any, payable as provided in Section 1004 in respect of principal of (or premium, if any, on) such a Debt Security, shall be payable
only upon presentation and surrender of the several coupons for such interest installments as are evidenced thereby as they severally mature. 

Section 1002.    Maintenance of Office or Agency. 

The Issuer will maintain in each Place of Payment for any series of Debt Securities an office or agency where Debt Securities
(but, except as otherwise provided below, unless such Place of Payment is located outside the United States, not Bearer Securities) may be presented or surrendered for payment, where Debt Securities may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Issuer or the Guarantor in respect of the Debt Securities, the Guarantee and this Indenture may be served. If Debt Securities of a series are issuable as Bearer Securities, the Issuer will
maintain, subject to any laws or regulations applicable thereto, an office or agency in a Place of Payment for such series which is located outside the United States where Debt Securities of such series and the related coupons may be presented and
surrendered for payment (including payment of any additional amounts payable on Debt Securities of such series pursuant to Section 1004); provided, however, that if the Debt Securities of such series are listed on the London Stock
Exchange or the Luxembourg Stock Exchange or any other stock exchange located outside the United States and such stock exchange shall so require, the Issuer will maintain a Paying Agent in London or Luxembourg or any other required city located
outside the United States, as the case may be, so long as the Debt Securities of such series are listed on such exchange. The Issuer will give prompt written notice to the Trustee of the location, and any change in the location, of any such office
or agency. If at any time the Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices or demands may be made or served at the Corporate
Trust Office of the Trustee, and the Issuer hereby appoints the Trustee its agent to receive all presentations, surrenders, notices and demands, except that Bearer Securities of that series and the related coupons may be presented and surrendered
for payment (including payment of any additional amounts payable on Bearer Securities of that series pursuant to Section 1004) at the place specified for the purpose pursuant to Section 301(5). 

No payment of principal of, premium or interest on Bearer Securities shall be made at any office or agency of the Issuer in
the United States or by check mailed to any address in the United States or by transfer to an account maintained with a bank located in the United States; provided, however, payment of principal of and any premium and interest denominated in
Dollars (including additional amounts payable in respect thereof) on any Bearer Security may be made at an office or agency of, and designated by, the Issuer located in the United States if (but only if) payment of the full amount of such principal,
premium, interest or additional amounts in Dollars at all offices outside the United States maintained for the purpose by the Issuer in accordance with this Indenture is illegal or effectively precluded by exchange controls or other similar
restrictions and the Trustee receives an Opinion of Counsel that such payment within the United States is legal. Unless otherwise provided as contemplated by Section 301 with respect to any series of Debt Securities, at the option of the Holder
of any Bearer Security or related coupon, payment may be made by check in the currency designated for such payment pursuant to the terms of such Bearer 

  
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Security presented or mailed to an address outside the United States or by transfer to an account in such currency maintained by the payee with a bank located outside the United States. 

The Issuer may also from time to time designate one or more other offices or agencies (in or outside of such Place of
Payment) where the Debt Securities of one or more series and any appurtenant coupons (subject to the preceding paragraph) may be presented or surrendered for any or all such purposes, and may from time to time rescind such designations; provided,
however, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to maintain an office or agency in each Place of Payment for any series of Debt Securities for such purposes. The Issuer will give prompt
written notice to the Trustee of any such designation and any change in the location of any such other office or agency. 

Section 1003.    Money for Debt Securities Payments to Be Held in Trust. 

If the Issuer or the Guarantor shall at any time act as its own Paying Agent with respect to any series of Debt Securities,
it will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debt Securities of such series and any appurtenant coupons, segregate and hold in trust for the benefit of the Persons entitled thereto a sum
sufficient to pay the principal (and premium, if any) or interest so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act.

 Whenever the Issuer or the Guarantor shall have one or more Paying Agents with respect to any series of Debt Securities,
the Issuer or the Guarantor, as applicable, will, on or before each due date of the principal of (and premium, if any) or interest on any of the Debt Securities of such series and any appurtenant coupons, deposit with a Paying Agent a sum sufficient
to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Issuer or the
Guarantor, as applicable, will promptly notify the Trustee of its action or failure so to act. 
 The Issuer or the
Guarantor will cause each Paying Agent with respect to any series of Debt Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of
this Section, that such Paying Agent will 
 (1)    hold all sums held by it for the
payment of the principal of (and premium, if any) or interest on Debt Securities of such series and any appurtenant coupons in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed
of as herein provided; 
 (2)    give the Trustee notice of any default by the Issuer or
the Guarantor (or any other obligor upon the Debt Securities of such series or any appurtenant coupons) in the making of any payment of principal of (and premium, if any) or interest on the Debt Securities of such series or any appurtenant coupons;
and 

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

The Issuer or the Guarantor may at any time, for the purpose of terminating its obligations under this Indenture with respect
to Debt Securities of any series or for any other purpose, pay, or by Issuer Order or Guarantor Order, as applicable, direct any Paying Agent to pay, to the Trustee all sums held in trust by the Issuer, the Guarantor or such Paying Agent, such sums
to be held by the Trustee upon the same trusts as those upon which such sums were held by the Issuer, the Guarantor or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further
liability with respect to such money. 
 Any principal and interest received on the Eligible Instruments deposited with the
Trustee or any money deposited with the Trustee or any Paying Agent, or then held by the Issuer or the Guarantor, in trust for the payment of the principal of (and premium, if any) or interest on any Debt Security of any series or any appurtenant
coupons or any money on deposit with the Trustee or any Paying Agent representing amounts deducted from the Redemption Price or Repayment Price with respect to unmatured coupons not presented upon redemption or exercise of the Holder’s option
for repayment pursuant to Section 1106 or 1303 and remaining unclaimed for two years after such principal (and premium, if any) or interest has become due and payable shall be paid to the Issuer on Issuer Request or to the Guarantor on
Guarantor Request, as applicable, or (if then held by the Issuer or the Guarantor) shall be discharged from such trust; and the Holder of such Debt Security or any coupon appertaining thereto shall thereafter, as an unsecured general creditor, look
only to the Issuer or the Guarantor, as the case may be, for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money (including the principal and interest received on Eligible Instruments deposited
with the Trustee), and all liability of the Issuer or the Guarantor as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of
the Issuer cause to be published once, in an Authorized Newspaper of general circulation in the Borough of Manhattan, The City of New York, and each Place of Payment or mailed to each such Holder, or both, notice that such money remains unclaimed
and that, after a date specified therein, which shall not be less than 30 days from the date of such publication or mailing, any unclaimed balance of such money then remaining will be repaid to the Issuer or the Guarantor, as applicable. 

Section 1004.    Payment of Additional Amounts. 

If the Debt Securities of a series provide for the payment of additional amounts, the Issuer will pay to the Holder of any
Debt Security of any series or any coupon appertaining thereto additional amounts upon the terms and subject to the conditions provided therein. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of (or
premium, if any) or interest on, or in respect of, any Debt Security of any series or any related coupon or the net proceeds received on the sale or exchange of any Debt Security of any series, such mention shall be deemed to include mention of the
payment of additional amounts provided for in the terms of such Debt Securities and this Section to the extent that, in such context, additional amounts are, were or would be payable in respect thereof pursuant to the provisions of this Section and
express mention of the payment of additional amounts (if applicable) in any provisions hereof shall not be construed 

  
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as excluding additional amounts in those provisions hereof where such express mention is not made. 

If the Debt Securities of a series provide for the payment of additional amounts, at least 10 days prior to the first
Interest Payment Date with respect to that series of Debt Securities (or if the Debt Securities of that series will not bear interest prior to Maturity, the first day on which a payment of principal (and premium, if any) is made), and at least
10 days prior to each date of payment of principal (and premium, if any) or interest if there has been any change with respect to the matters set forth in the below-mentioned Officers’ Certificate,
the Issuer will furnish the Trustee and the Issuer’s principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing the Trustee and such Paying Agent or Paying Agents whether such payment of
principal of (and premium, if any) or interest on the Debt Securities of that series shall be made to Holders of Debt Securities of that series or the related coupons who are United States Aliens without withholding for or on account of any tax,
assessment or other governmental charge described in the Debt Securities of that series. If any such withholding shall be required, then such Officers’ Certificate shall specify by country the amount, if any, required to be withheld on such
payments to such Holders of Debt Securities or coupons and the Issuer will pay to the Trustee or such Paying Agent the additional amounts, if any, required by the terms of such Debt Securities and the first paragraph of this Section. The Issuer
covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any loss, liability or expense reasonably incurred without negligence or bad faith on their part arising out of or in connection with actions taken or
omitted by any of them in reliance on any Officers’ Certificate furnished pursuant to this Section. 
 Section
1005.    Officers’ Certificate as to Default. 
 The Issuer will deliver to the
Trustee, on or before a date not more than four months after the end of each fiscal year of the Issuer ending after the date hereof, an Officers’ Certificate, stating whether or not to the best knowledge of the signers thereof the Issuer is in
default in the performance and observance of any of the terms, provisions and conditions of this Indenture, and, if the Issuer shall be in default, specifying all such defaults and the nature thereof of which they may have knowledge. For the purpose
of this Section, the term “default” means any event which is, or after notice or lapse of time or both would become, a Covenant Breach or Event of Default. 

The Guarantor will deliver to the Trustee, on or before a date not more than four months after the end of each fiscal year of
the Guarantor ending after the date hereof, an Officers’ Certificate, stating whether or not to the best knowledge of the signers thereof the Guarantor is in default in the performance and observance of any of the terms, provisions and
conditions of this Indenture, and, if the Guarantor shall be in default, specifying all such defaults and the nature thereof of which they may have knowledge. For the purpose of this Section, the term “default” means any event which is, or
after notice or lapse of time or both would become, an Event of Default. 
 Section
1006.    Waiver of Certain Covenants. 
 The Issuer or the Guarantor may omit in any
particular instance to comply with any covenant or condition applicable to the Debt Securities of any series pursuant to Section 301 unless 

  
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such covenant or condition is determined pursuant to Section 301 not to be subject to this provision if, before the time for such compliance the Holders of at least a majority in principal
amount of all series of the Debt Securities at the time Outstanding to which such covenant or condition applies shall, acting together as a class, by Act of such Holders, either waive such compliance in such instance or generally waive compliance
with such covenant or condition, but no such waiver shall extend to or affect such covenant or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Issuer or the Guarantor, as
applicable, and the duties of the Trustee in respect of any such covenant or condition shall remain in full force and effect. 

Section 1007.    Calculation of Original Issue Discount. 

The Issuer shall file with the Trustee promptly at the end of each calendar year (i) a written notice specifying the
amount of original issue discount (including daily rates and accrual periods) accrued on Outstanding Debt Securities as of the end of such year and (ii) such other specific information relating to such original issue discount as may then be
reasonably requested by the Trustee and relevant under the Internal Revenue Code of 1986, as amended from time to time. 
 ARTICLE ELEVEN

 Redemption of Debt Securities 

Section 1101.    Applicability of Article. 

Debt Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their
terms and (except as otherwise specified as contemplated by Section 301 for Debt Securities of any series) in accordance with this Article. 

Section 1102.    Election to Redeem; Notice to Trustee. 

The election of the Issuer to redeem any Debt Securities shall be evidenced by a Board Resolution. In case of any redemption
at the election of the Issuer of less than all of the Debt Securities of any series, the Issuer shall, at least 20 days prior to the Redemption Date fixed by the Issuer (unless a shorter notice shall be satisfactory to the Trustee), notify the
Trustee of such Redemption Date and of the principal amount and the tenor and terms of the Debt Securities of any series to be redeemed. In the case of any redemption of Debt Securities prior to the expiration of any restriction on such redemption
provided in the terms of such Debt Securities or elsewhere in this Indenture, the Issuer shall furnish the Trustee with an Officers’ Certificate evidencing compliance with such restriction. 

Section 1103.    Selection by Trustee of Debt Securities to be Redeemed. 

Except as otherwise specified as contemplated by Section 301 for Debt Securities of any series, if less than all the
Debt Securities of any series with like tenor and terms are to be redeemed, the particular Debt Securities to be redeemed shall be selected not more than 60 days 

  
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prior to the Redemption Date by the Trustee, from the Outstanding Debt Securities of such series with like tenor and terms not previously called for redemption, by such method as the Trustee
shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the minimum authorized denomination for Debt Securities of such series or any integral multiple thereof which is also an authorized
denomination) of the principal amount of Registered Securities or Bearer Securities (if issued in more than one authorized denomination) of such series of a denomination larger than the minimum authorized denomination for Debt Securities of such
series. 
 The Trustee shall promptly notify the Issuer in writing of the Debt Securities selected for redemption and, in
the case of any Debt Securities selected for partial redemption, the principal amount thereof to be redeemed. 
 For all
purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Debt Securities shall relate, in the case of any Debt Security redeemed or to be redeemed only in part, to the portion of the principal
amount of such Debt Security which has been or is to be redeemed. 
 Section 1104.    Notice
of Redemption. 
 Notice of redemption shall be given in the manner provided in Section 106 not less than 15 nor
more than 60 days prior to the Redemption Date, to each Holder of Debt Securities to be redeemed. 
 All notices of
redemption shall state: 
 (1)    the Redemption Date, 

(2)    the Redemption Price, 

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

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

(5)    the Place or Places of Payment where such Debt Securities, together in the case of
Bearer Securities with all coupons, if any, appertaining thereto maturing after the Redemption Date, are to be surrendered for payment of the Redemption Price, 

(6)    that Bearer Securities may be surrendered for payment only at such place or places
which are outside the United States, except as otherwise provided in Section 1002, 

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

  
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 (8)    the CUSIP number, if any. 

A notice of redemption published as contemplated by Section 106 need not identify particular Registered Securities to be
redeemed. 
 Notice of redemption of Debt Securities to be redeemed at the election of the Issuer shall be given by the
Issuer, or, at the Issuer’s request, by the Trustee in the name and at the expense of the Issuer. 
 Section
1105.    Deposit of Redemption Price. 
 On or prior to 10:00 a.m., New York time, on
any Redemption Date, the Issuer shall deposit with the Trustee or with a Paying Agent (or, if the Issuer is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money and/or, to the extent the
Debt Securities to be redeemed are denominated and payable in Dollars only, Eligible Instruments the payments of principal and interest on which when due (and without reinvestment and providing no tax liability will be imposed upon the Trustee or
the Holders of the Debt Securities to be redeemed) will provide money on or prior to the Redemption Date in such amounts as will (together with any money irrevocably deposited in trust with the Trustee, without investment) be sufficient to pay the
Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued interest on, all the Debt Securities or portions thereof which are to be redeemed on that date; provided, however, that deposits with respect
to Bearer Securities shall be made with a Paying Agent or Paying Agents located outside the United States except as otherwise provided in Section 1002, unless otherwise specified as contemplated by Section 301. 

Section 1106.    Debt Securities Payable on Redemption Date. 

Notice of redemption having been given as aforesaid, the Debt Securities to be redeemed shall, on the Redemption Date, become
due and payable at the Redemption Price therein specified and from and after such date (unless the Issuer shall default in the payment of the Redemption Price and accrued interest) such Debt Securities shall cease to bear interest and the coupons
for such interest appertaining to any Bearer Securities so to be redeemed, except to the extent provided below, shall be void. Upon surrender of any such Debt Security for redemption in accordance with said notice, such Debt Security shall be paid
by the Issuer at the Redemption Price, together with accrued interest to the Redemption Date; provided, however, that installments of interest on Bearer Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable
only upon presentation and surrender of coupons for such interest (at an office or agency located outside the United States except as otherwise provided in Section 1002), and provided further, that installments of interest on Registered
Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Debt Securities, or one or more Predecessor Securities, registered as such on the relevant Record Dates according to their terms and the
provisions of Section 307. 
 If any Bearer Security surrendered for redemption shall not be accompanied by all
appurtenant coupons maturing after the Redemption Date, such Bearer Security may be paid after 

  
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deducting from the Redemption Price an amount equal to the face amount of all such missing coupons, or the surrender of such missing coupon or coupons may be waived by the Issuer and the Trustee
if there be furnished to them such security or indemnity as they may require to save each of them, the Guarantor and any Paying Agent harmless. If thereafter the Holder of such Bearer Security shall surrender to the Trustee or any Paying Agent any
such missing coupon in respect of which a deduction shall have been made from the Redemption Price, such Holder shall be entitled to receive the amount so deducted without interest thereon; provided, however, that interest represented by
coupons shall be payable only upon presentation and surrender of those coupons at an office or agency located outside of the United States except as otherwise provided in Section 1002. 

If any Debt Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal (and
premium, if any) shall, until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Debt Security. 

Section 1107.    Debt Securities Redeemed in Part. 

Any Registered Security which is to be redeemed only in part shall be surrendered at a Place of Payment therefor (with, if
the Issuer, the Security Registrar or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Issuer, the Security Registrar and the Trustee duly executed by, the Holder thereof or his attorney
duly authorized in writing), and the Issuer shall execute, and the Trustee shall authenticate and deliver to the Holder of such Debt Security without service charge, a new Registered Security or Registered Securities of the same series and of like
tenor and terms, of any authorized denominations as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Debt Security so surrendered. 

ARTICLE TWELVE 
 Sinking
Funds 
 Section 1201.    Applicability of Article. 

The provisions of this Article shall be applicable to any sinking fund for the retirement of Debt Securities of a series
except as otherwise specified as contemplated by Section 301 for Debt Securities of such series. 
 The minimum amount
of any sinking fund payment provided for by the terms of Debt 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 term of Debt
Securities of any series is herein referred to an “optional sinking fund payment”. If provided for by the terms of Debt Securities of any series, the amount of any sinking fund payment may be subject to reduction as provided in
Section 1202. Each sinking fund payment shall be applied to the redemption of Debt Securities of any series as provided for by the terms of Debt Securities of such series. 

  
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 Section 1202.    Satisfaction of Sinking Fund
Payments with Debt Securities. 
 The Issuer (1) may deliver Outstanding Debt Securities of a series (other than
any previously called for redemption), together in the case of any Bearer Securities of such series with all unmatured coupons appertaining thereto, and (2) may apply as a credit Debt Securities of a series which have been redeemed either at
the election of the Issuer pursuant to the terms of such Debt Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Debt Securities, in each case in satisfaction of all or any part of any
sinking fund payment with respect to the Debt Securities of such series required to be made pursuant to the terms of such Debt Securities as provided for by the terms of such series; provided that such Debt Securities have not been previously
so credited. Such Debt Securities shall be received and credited for such purpose by the Trustee at the Redemption Price specified in such Debt Securities for redemption through operation of the sinking fund and the amount of such sinking fund
payment shall be reduced accordingly. If as a result of the delivery or credit of Debt Securities in lieu of cash payments pursuant to this Section 1202, the principal amount of Debt Securities to be redeemed in order to exhaust the aforesaid
cash payment shall be less than $100,000, the Trustee need not call Debt Securities for redemption, except upon Issuer Request, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund
payment, provided, however, that the Trustee or such Paying Agent shall at the request of the Issuer from time to time pay over and deliver to the Issuer any cash payment so being held by the Trustee or such Paying Agent upon delivery by the
Issuer to the Trustee of Debt Securities purchased by the Issuer having an unpaid principal amount equal to the cash payment requested to be released to the Issuer. 

Section 1203.    Redemption of Debt Securities for Sinking Fund. 

Not less than 60 days prior to each sinking fund payment date for any series of Debt Securities (unless a shorter period
shall be satisfactory to the Trustee), the Issuer will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if
any, which is to be satisfied by payment of cash, the portion thereof, if any, which is to be satisfied by crediting Debt Securities of that series pursuant to Section 1202 and the basis for any such credit and, prior to or concurrently with
the delivery of such Officers’ Certificate, will also deliver to the Trustee any Debt Securities to be so credited and not theretofore delivered to the Trustee. Not less than 30 days (unless a shorter period shall be satisfactory to the
Trustee) before each such sinking fund payment date the Trustee shall select the Debt Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given
in the name of and at the expense of the Issuer in the manner provided in Section 1104. Such notice having been duly given, the redemption of such Debt Securities shall be made upon the terms and in the manner stated in Sections 1105, 1106
and 1107. 

  
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 ARTICLE THIRTEEN 

Repayment at the Option of Holders 

Section 1301.    Applicability of Article. 

Debt Securities of any series which are repayable at the option of the Holders thereof before their Stated Maturity shall be
repaid in accordance with their terms and (except as otherwise specified pursuant to Section 301 for Debt Securities of such series) in accordance with this Article. 

Section 1302.    Repayment of Debt Securities. 

Each Debt Security which is subject to repayment in whole or in part at the option of the Holder thereof on a Repayment Date
shall be repaid at the applicable Repayment Price together with interest accrued to such Repayment Date as specified pursuant to Section 301. 

Section 1303.    Exercise of Option; Notice. 

Each Holder desiring to exercise such Holder’s option for repayment shall, as conditions to such repayment, surrender
the Debt Security to be repaid in whole or in part together with written notice of the exercise of such option at any office or agency of the Issuer in a Place of Payment, not less than 30 nor more than 45 days prior to the Repayment Date;
provided, however, that surrender of Bearer Securities together with written notice of exercise of such option shall be made at an office or agency located outside the United States except as otherwise provided in Section 1002. Such
notice, which shall be irrevocable, shall specify the principal amount of such Debt Security to be repaid, which shall be equal to the minimum authorized denomination for such Debt Security or an integral multiple thereof, and shall identify the
Debt Security to be repaid and, in the case of a partial repayment of the Debt Security, shall specify the denomination or denominations of the Debt Security or Debt Securities of the same series to be issued to the Holder for the portion of the
principal of the Debt Security surrendered which is not to be repaid. 
 If any Bearer Security surrendered for repayment
shall not be accompanied by all unmatured coupons and all matured coupons in default, such Bearer Security may be paid after deducting from the Repayment Price an amount equal to the face amount of all such missing coupons, or the surrender of such
missing coupon or coupons may be waived by the Issuer and the Trustee if there be furnished to them such security or indemnity as they may require to save each of them, the Guarantor and any Paying Agent harmless. If thereafter the Holder of such
Bearer Security shall surrender to the Trustee or any Paying Agent any such missing coupon in respect of which a deduction shall have been made from the Repayment Price, such Holder shall be entitled to receive the amount so deducted without
interest thereon; provided, however, that interest represented by coupons shall be payable only at an office or agency located outside the United States except as otherwise provided in Section 1002. 

The Issuer shall execute and the Trustee shall authenticate and deliver without service charge to the Holder of any
Registered Security so surrendered a new Registered Security or 

  
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Securities of the same series, of any authorized denomination specified in the foregoing notice, in an aggregate principal amount equal to any portion of the principal of the Registered Security
so surrendered which is not to be repaid. 
 The Issuer shall execute and the Trustee shall authenticate and deliver
without service charge to the Holder of any Bearer Security so surrendered a new Registered Security or Securities or new Bearer Security or Securities (and all appurtenant unmatured coupons and matured coupons in default) or any combination thereof
of the same series of any authorized denomination or denominations specified in the foregoing notice, in an aggregate principal amount equal to any portion of the principal of the Debt Security so surrendered which is not to be paid; provided,
however, that the issuance of a Registered Security therefor shall be subject to applicable laws and regulations, including provisions of the United States Federal income tax laws and regulations in effect at the time of the exchange; neither
the Issuer, the Trustee nor the Security Registrar shall issue Registered Securities for Bearer Securities if it has received an Opinion of Counsel that as a result of such issuance the Issuer or the Guarantor would suffer adverse consequences under
the United States Federal income tax laws then in effect and the Issuer has delivered to the Trustee an Issuer Order directing the Trustee not to make such issuances thereafter unless and until the Trustee receives a subsequent Issuer Order to the
contrary. The Issuer shall deliver copies of such Issuer Order to the Security Registrar. 
 For all purposes of this
Indenture, unless the context otherwise requires, all provisions relating to the repayment of Debt Securities shall relate, in the case of any Debt Security repaid or to be repaid only in part, to the portion of the principal of such Debt Security
which has been or is to be repaid. 
 Section 1304.    Election of Repayment by Remarketing
Entities. 
 The Issuer may elect, with respect to Debt Securities of any series which are repayable at the option of
the Holders thereof before their Stated Maturity, at any time prior to any Repayment Date to designate one or more Remarketing Entities to purchase, at a price equal to the Repayment Price, Debt Securities of such series from the Holders thereof who
give notice and surrender their Debt Securities in accordance with Section 1303. 
 Section
1305.    Securities Payable on the Repayment Date. 
 Notice of exercise of the option of
repayment having been given and the Debt Securities so to be repaid having been surrendered as aforesaid, such Debt Securities shall, unless purchased in accordance with Section 1304, on the Repayment Date become due and payable at the price
therein specified and from and after the Repayment Date such Debt Securities shall cease to bear interest and shall be paid on the Repayment Date, and the coupons for such interest appertaining to Bearer Securities so to be repaid, except to the
extent provided above, shall be void, unless the Issuer shall default in the payment of such price in which case the Issuer shall continue to be obligated for the principal amount of such Debt Securities and shall be obligated to pay interest on
such principal amount at the rate borne by such Debt Securities from time to time until payment in full of such principal amount. 

  
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 ARTICLE FOURTEEN 

Meetings of Holders of Debt Securities 

Section 1401.    Purposes for Which Meetings May Be Called. 

If Debt Securities of a series are issuable in whole or in part as Bearer Securities, a meeting of Holders of Debt Securities
of such series may be called at any time and from time to time pursuant to this Article to make, give or take any request, demand, authorization, direction, notice, consent, waiver or other Act provided by this Indenture to be made, given or taken
by Holders of Debt Securities of such series. 
 Section 1402.    Call, Notice and Place of
Meetings. 
 (a)    The Trustee may at any time call a meeting of Holders of Debt Securities of any
series issuable as Bearer Securities for any purpose specified in Section 1401, to be held at such time and at such place in the Borough of Manhattan, The City of New York, or in London as the Trustee shall determine. Notice of every meeting of
Holders of Debt Securities of any 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 given, in the manner provided in Section 106, not less than 21 nor
more than 180 days prior to the date fixed for the meeting. 
 (b)    In case at any time the Issuer,
pursuant to a Board Resolution, or the Holders of at least 10% in principal amount of the Outstanding Debt Securities of any series shall have requested the Trustee to call a meeting of the Holders of Debt Securities of such series for any purpose
specified in Section 1401, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have made the first publication of the notice of such meeting within 21 days after
receipt of such request or shall not thereafter proceed to cause the meeting to be held as provided herein, then the Issuer or the Holders of Debt Securities of such series in the amount above specified, as the case may be, may determine the time
and the place in the Borough of Manhattan, The City of New York, or in London for such meeting and may call such meeting for such purposes by giving notice thereof as provided in subsection (a) of this Section. 

Section 1403.    Persons Entitled to Vote at Meetings. 

To be entitled to vote at any meeting of Holders of Debt Securities of any series, a Person shall be (1) a Holder of one
or more Outstanding Debt Securities of such series, or (2) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Debt Securities of such series by such Holder or Holders. The only Persons who
shall be entitled to be present or to speak at any meeting of Holders of Debt Securities of any series shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel and any
representatives of the Issuer or the Guarantor and their respective counsel. 

  
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 Section 1404.    Quorum; Action. 

The Persons entitled to vote a majority in principal amount of the Outstanding Debt Securities of a series shall constitute a
quorum for a meeting of Holders of Debt Securities of such series. In the absence of a quorum within 30 minutes of the time appointed for any such meeting, the meeting shall, if convened at the request of Holders of Debt Securities of such series,
be dissolved. In the absence of a quorum in any other case the meeting may be adjourned for a period of not less than 10 days as determined by the chairperson of the meeting prior to the adjournment of such meeting. In the absence of a quorum at any
such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than 10 days as determined by the chairperson of the meeting prior to the adjournment of such adjourned meeting. Notice of this reconvening of any
adjourned meeting shall be given as provided in Section 1402(a), except that such notice need be given only once not less than five days prior to the date on which the meeting is scheduled to be reconvened. Notice of the reconvening of an
adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the Outstanding Debt Securities of such series which shall constitute a quorum. 

Except as limited by the proviso to Section 902, any resolution presented to a meeting or adjourned meeting duly
reconvened at which a quorum is present as aforesaid may be adopted only by the affirmative vote of the Holders of a majority in principal amount of the Outstanding Debt Securities of that series, provided however, that, except as limited by
the proviso to Section 902, any resolution with respect to any request, demand, authorization, direction, notice, consent, waiver or other Act which this Indenture expressly provides may be made, given or taken by the Holders of a specified
percentage, which is less than a majority, in principal amount of the Outstanding Debt Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote
of the Holders of such specified percentage in principal amount of the Outstanding Debt Securities of that series. 
 Any
resolution passed or decision taken at any meeting of Holders of Debt Securities of any series duly held in accordance with this Section shall be binding on all the Holders of Debt Securities of such series and the related coupons, whether or not
present or represented at the meeting. 
 Section 1405.    Determination of Voting Rights;
Conduct and Adjournment 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 Holders of Debt Securities of such series in regard to proof of the holding of Debt Securities of such series 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 appropriate. Except as
otherwise permitted or required by any such regulations, the holding of Debt Securities shall be proved in the manner specified in Section 104 and the appointment of any proxy shall be proved in the manner specified in Section 104 or, in
the case of Bearer Securities, by having the signature of the person executing the proxy witnessed or guaranteed by any trust company, bank or banker 

  
 78 

 
authorized by Section 104 to certify to the holding of Bearer Securities. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed
valid and genuine without the proof specified in Section 104 or other proof. 
 (b) The Trustee shall, by an
instrument in writing, appoint a temporary chairperson of the meeting, unless the meeting shall have been called by the Issuer or by Holders of Debt Securities as provided in Section 1402(b), in which case the Issuer or the Holders of Debt
Securities of the series calling the meeting, as the case may be, shall in like manner appoint a temporary chairperson. A permanent chairperson and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a
majority in principal amount of the Outstanding Debt Securities of such series represented at the meeting. 
 (c) At any
meeting each Holder of a Debt Security of such series or proxy shall be entitled to one vote for each $1,000 principal amount (or the equivalent in any composite currency or a Foreign Currency) of Debt Securities of such series held or represented
by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Debt Security challenged as not Outstanding and ruled by the chairperson of the meeting not to be Outstanding. The chairperson of the meeting
shall have no right to vote, except as a Holder of a Debt Security of such series or proxy. 
 (d) Any meeting of Holders
of Debt Securities of any series duly called pursuant to Section 1402 at which a quorum is present may be adjourned from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Debt Securities of such series
represented at the meeting; and the meeting may be held as so adjourned without further notice. 
 Section
1406.    Counting Votes and Recording Action of Meetings. 
 The vote upon any resolution
submitted to any meeting of Holders of Debt Securities of any series shall be by written ballots on which shall be subscribed the signatures of the Holders of Debt Securities of such series or of their representatives by proxy and the principal
amounts and serial numbers of the Outstanding Debt Securities of such series held or represented by them. The permanent chairperson 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 triplicate of all votes cast at the meeting. A record, at least in triplicate, of the proceedings of each meeting of Holders of Debt
Securities of any series 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 given as provided in Section 1402 and, if applicable, Section 1401. Each copy shall be signed and verified by the affidavits of the
permanent chairperson and secretary of the meeting and one such copy shall be delivered to the Issuer, and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so
signed and verified shall be conclusive evidence of the matters therein stated. 

  
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 ARTICLE FIFTEEN 

Defeasance 

Section 1501.    Termination of Issuer’s and Guarantor’s
Obligations. 
 If this Section 1501 is specified, as contemplated by Section 301, to be applicable to
any series of Debt Securities and if the Issuer or the Guarantor deposits irrevocably in trust with the Trustee money and/or, to the extent such Debt Securities are denominated and payable in Dollars only, Eligible Instruments the payments of
principal and interest on which when due (and without reinvestment and providing no tax liability will be imposed upon the Trustee or the Holders of such Debt Securities) will provide money in such amounts as will (together with any money
irrevocably deposited in trust with the Trustee, without investment) be sufficient to pay the principal of (and premium, if any) and any installment of principal of (and premium, if any) or interest when due on the Debt Securities of such series and
any coupons appertaining thereto and any mandatory sinking fund, repayment or analogous payments thereon on the scheduled due dates therefor at the Stated Maturity thereof, the Issuer’s and the Guarantor’s respective obligations under any
covenant determined pursuant to Section 301 to be subject to this Section shall terminate with respect to the Debt Securities of the series for which such deposit was made; provided, however, that (i) no Event of Default with
respect to the Debt Securities of such series under Section 501(3) or 501(4) or event that with notice or lapse of time or both would constitute such an Event of Default shall have occurred and be continuing on such date, (ii) such deposit
will not result in a breach of, or constitute a default under, this Indenture or any other agreement or instrument to which the Issuer or the Guarantor, as applicable, is a party or by which it is bound, and (iii) such termination shall not
relieve the Issuer of its obligations under the Debt Securities of such series and this Indenture to pay when due the principal of (and premium, if any) and interest and additional amounts on such Debt Securities and any coupons appertaining thereto
if such Debt Securities or coupons are not paid (or payment is not provided for) when due from the money and Eligible Instruments (and the proceeds thereof) so deposited. 

It shall be a condition to the deposit of cash and/or Eligible Instruments and the termination of the Issuer’s and the
Guarantor’s respective obligations pursuant to the provisions of this Section with respect to the Debt Securities of any series under any covenant determined pursuant to Section 301 to be subject to this Section that the Issuer or the
Guarantor deliver to the Trustee (i) an Opinion of Counsel to the effect that: (a) Holders of Debt Securities of such series and any coupons appertaining thereto will not recognize income, gain or loss for Federal income tax purposes as a
result of such deposit and termination and (b) such Holders (and future Holders) will be subject to tax in the same amount, manner and timing as if such deposit and termination had not occurred, (ii) an Officers’ Certificate to the
effect that under the laws in effect on the date such money and/or Eligible Instruments are deposited with the Trustee, the amount thereof will be sufficient, after payment of all Federal, State and local taxes in respect thereof payable by the
Trustee, to pay principal (and premium, if any) and interest when due on the Debt Securities of such series and any coupons appertaining thereto; and (iii) an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent herein provided for relating to the defeasance contemplated in this Section have been complied with. 

  
 80 

 It shall be an additional condition to the deposit of cash and/or Eligible
Instruments and the termination of the Issuer’s and the Guarantor’s respective obligations pursuant to the provisions of this Section under any covenant determined pursuant to Section 301 to be subject to this Section, with respect to
the Debt Securities of any series then listed on the New York Stock Exchange, that the Issuer or the Guarantor deliver an Opinion of Counsel that the Debt Securities of such series will not be delisted from the New York Stock Exchange as a result of
such deposit and termination. 
 After a deposit as provided herein, the Trustee shall, upon Issuer Request or Guarantor
Request, acknowledge in writing the discharge of the Issuer’s and the Guarantor’s respective obligations pursuant to the provisions of this Section with respect to the Debt Securities of such series under any covenant determined pursuant
to Section 301 to be subject to this Section. 
 Section 1502.    Repayment to
Issuer. 
 The Trustee and any Paying Agent shall promptly pay to the Issuer upon Issuer Request or the Guarantor upon
Guarantor Request, as applicable, any money or Eligible Instruments not required for the payment of the principal of (and premium, if any) and interest on the Debt Securities of any series and any related coupons for which money or Eligible
Instruments have been deposited pursuant to Section 1501 held by them at any time. 
 The Trustee and any Paying Agent
shall promptly pay to the Issuer upon Issuer Request or the Guarantor upon Guarantor Request, as applicable, any money held by them for the payment of principal (and premium, if any) and interest that remains unclaimed for two years after the
Maturity of the Debt Securities for which a deposit has been made pursuant to Section 1501. After such payment to the Issuer or the Guarantor, as applicable, the Holders of the Debt Securities of such series and any related coupons shall
thereafter, as unsecured general creditors, look only to the Issuer or the Guarantor, as the case may be, for the payment thereof. 

Section 1503.    Indemnity for Eligible Instruments. 

Each of the Issuer and the Guarantor shall jointly and severally pay and shall jointly and severally indemnify the Trustee
against any tax, fee or other charge imposed on or assessed against the deposited Eligible Instruments or the principal or interest received on such Eligible Instruments. 

ARTICLE SIXTEEN 

Guarantee 

Section 1601.    The Guarantee.  

Subject to the provisions of this Article Sixteen, the Guarantor hereby irrevocably, fully and unconditionally guarantees, on
an unsecured basis, the full and punctual payment (whether at the Stated Maturity or upon redemption, repayment at the option of the Holders, 

  
 81 

 
acceleration or otherwise) of the principal of, premium, if any, and interest on, and all other amounts payable, including property deliverable, if any, under this Indenture and each Debt
Security and related coupons, if any. Upon failure by the Issuer to pay punctually any such amount, the Guarantor shall forthwith on demand pay the amount not so paid at the same place and in the same manner that applies to payments made by the
Issuer under this Indenture. This Guarantee is a guarantee of payment and not of collection. 

Section 1602.    Guarantee Unconditional.  

Subject to the provisions of this Article Sixteen, the obligations of the Guarantor hereunder are unconditional and absolute
and, without limiting the generality of the foregoing, will not be released, discharged or otherwise affected by: 

(a)    any extension, renewal, settlement, compromise, waiver or release in respect of any obligation of
the Issuer under this Indenture or any Debt Security or coupon, by operation of law or otherwise; 

(b)    any modification or amendment of or supplement to this Indenture or any Debt Security or coupon;

 (c)    any change in the corporate existence, structure or ownership of the Issuer, or any
insolvency, bankruptcy, reorganization or other similar proceeding affecting the Issuer or its assets or any resulting release or discharge of any obligation of the Issuer contained in this Indenture or any Debt Security or coupon; 

(d)    the existence of any claim, set-off or other rights that
the Guarantor may have at any time against the Issuer, the Trustee or any other Person, whether in connection with this Indenture or any unrelated transactions, provided that nothing herein prevents the assertion of any such claim by separate
suit or compulsory counterclaim; 
 (e)    any invalidity or unenforceability relating to or against
the Issuer for any reason of this Indenture or any Debt Security or coupon, or any provision of applicable law or regulation purporting to prohibit the payment by the Issuer of the principal of, premium, if any, interest on or other amounts on any
Debt Security or coupon; or 
 (f)    any other act or omission to act or delay of any kind by the
Issuer, the Trustee or any other Person or any other circumstance whatsoever which might, but for the provisions of this paragraph, constitute a legal or equitable discharge of or defense to the Guarantor’s obligations hereunder; 

provided, however, that: 

(a)    under no circumstances will the Guarantor be liable at any time or place to any Holder under this
Article, 
 (i)    for any amount of any payment that the Issuer is excused from making
under the terms of any Debt Security or coupon or this Indenture, for so long as the Issuer shall be excused under such terms; or 

  
 82 

 (ii)    for any amount in excess of the
amount actually due and owing by the Issuer to such Holder at such time and place, after giving effect to any set-off to which the Issuer would be entitled; and 

(b)    in addition but not in limitation of (a) above, any defense or counterclaim of the Issuer
(other than any resulting solely from, or available to the Guarantor solely on account of, the insolvency of the Issuer or the status of the Issuer as the debtor or subject of a bankruptcy or insolvency proceeding) shall also be available to the
Guarantor to the same extent that such defense or counterclaim is available to the Issuer and may be asserted as a defense or counterclaim by the Guarantor, in each case whether or not asserted by the Issuer. 

Section 1603.    Discharge; Reinstatement.  

Except to the extent otherwise provided in this Article Sixteen, the Guarantor’s obligations under this Article Sixteen
will remain in full force and effect until the principal of, premium, if any, and interest on and other amounts on the Debt Securities and coupons, if any, have been paid in full. If at any time any payment of the principal of, premium, if any,
interest on, or other amounts on any Debt Security or coupon is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Issuer or otherwise, the Guarantor’s obligations hereunder with respect
to such payment will be reinstated as though such payment had been due but not made at such time. 

Section 1604.    Waiver by the Guarantor.  

The Guarantor irrevocably waives acceptance hereof, presentment, demand, protest and any notice not provided for herein, as
well as any requirement that at any time any action be taken by any Person against the Issuer or any other Person. The Guarantor hereby agrees that, in the event of a default in payment of the principal of, premium, if any, and interest on, and all
other amounts payable under any Debt Security or coupon, whether at its stated maturity, by declaration of acceleration, call for redemption or otherwise, legal proceedings may be instituted by the Trustee on behalf of, or by, the Holder of such
Debt Security or coupon, subject to the terms and conditions set forth in this Indenture, directly against the Guarantor to enforce this Guarantee without first proceeding against the Issuer. 

Section 1605.    Subrogation.  

Upon making any payment with respect to any obligation of the Issuer under this Article, the Guarantor shall be subrogated to
the rights of the payee against the Issuer with respect to such obligation, provided that the Guarantor may not enforce any right of subrogation with respect to such payment so long as any amount payable by the Issuer hereunder or under the
Debt Securities or coupons, if any, remains unpaid. 
 Section 1606.
    Stay of Acceleration.  
 If acceleration of the time for payment of any amount
payable by the Issuer under this Indenture or the Debt Securities is stayed upon the insolvency, bankruptcy or reorganization of the Issuer, all such amounts otherwise subject to acceleration under the terms of this Indenture

  
 83 

 
are nonetheless payable by the Guarantor hereunder forthwith on demand by the Trustee or the Holders. 

Section 1607.    Savings Clause.  

Notwithstanding anything to the contrary in this Article, the Guarantor, and by its acceptance of Debt Securities, each
Holder, hereby confirms that it is the intention of all such parties that the Guarantee not constitute a fraudulent conveyance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision of
state law. To effectuate that intention, the Trustee, the Holders and the Guarantor hereby irrevocably agree that the obligations of the Guarantor under the Guarantee are limited to the maximum amount that would not render the Guarantor’s
obligations subject to avoidance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision of state law. 

Section 1608.    Execution and Delivery of Guarantee.  

The execution by the Guarantor of this Indenture evidences the Guarantee, whether or not the person signing as an officer of
the Guarantor still holds that office at the time of authentication of any Debt Security. The delivery of any Debt Security by the Trustee after authentication constitutes due delivery of the Guarantee set forth in this Indenture on behalf of the
Guarantor. 
 Section 1609.    Not Insured.  

This Guarantee is not insured by the Federal Deposit Insurance Corporation of the United States of America. 

Section 1610.    Release.  

The Guarantee by the Guarantor of the Debt Securities of any series shall be automatically released and discharged, without
any further action by the Guarantor, the Issuer, the Trustee or the Holders of any Debt Securities, upon: 

(1)    satisfaction and discharge of this Indenture in accordance with Section 401;

 (2)    satisfaction and discharge of the Debt Securities of such series in accordance
with Section 403; 
 (3)    termination of the Issuer’s obligations with
respect to the Debt Securities of such series pursuant to the provisions of Section 1501; 

  
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 (4)    merger of the Issuer with and
into the Guarantor in accordance with the provisions of Section 801; or 

(5)    substitution of a successor Guarantor in accordance with the provisions of
Section 803. 

  
 85 

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

							
		 		 	 WELLS FARGO FINANCE LLC, as Issuer

				
		 		 	By	 	/s/ William Threadgill
		 		 		 	 Name:  William Threadgill

		 		 		 	 Title:    President and Chief Executive Officer

			
	 Attest:
	 		 	
				
	/s/ James McMullin	 		 		 	
	Name:  James McMullin	 		 		 	
	Title:    Secretary	 		 		 	
			
		 		 	 WELLS FARGO & COMPANY, as Guarantor

				
		 		 	By	 	/s/ Barbara S. Brett
		 		 		 	 Name:  Barbara S. Brett

		 		 		 	 Title:    Senior Vice President and

		 		 		 	              Assistant Treasurer

			
	 Attest:
	 		 	
				
	/s/ Jeannine E. Zahn	 		 		 	
	Name:  Jeannine E. Zahn	 		 		 	
	Title:    Assistant Secretary	 		 		 	
			
		 		 	 CITIBANK, N.A., as Trustee

				
		 		 	By	 	/s/ Cirino Emanuele
		 		 		 	 Name:  Cirino Emanuele

		 		 		 	 Title:    Senior Trust Officer

			
	 Attest:
	 		 	
				
	/s/ Louis Piscitelli	 		 		 	
	Name:  Louis Piscitelli	 		 		 	
	Title:    Senior Trust Officer	 		 		 	

  
 86LOAN
AGREEMENT

 

THIS
LOAN AGREEMENT (this “Agreement”) is made as of the 27th day of April, 2018, by and between CrowdOut Capital,
LLC, a Texas limited liability company (“Lender”), and Sunworks Inc., a Delaware corporation (“Borrower”).

 

RECITALS

 

A.
Lender is providing Borrower a term loan in the Term Loan Amount (the “Term Loan”), which shall be evidenced
by the Notes, subject to the terms and conditions of this Agreement.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Borrower and Lender
agree as follows:

 

ARTICLE
1.

DEFINITIONS

 

1.1
Definition of Certain Terms. As used in this Agreement, the following terms shall have the meanings set forth below:

 

“Affiliate”
of any person or entity shall mean (a) any other person or entity which, directly or indirectly, controls or is controlled by
or is under common control with such person or entity, (b) any officer or director of such entity and (c) with respect to Lender,
any entity administered or managed by Lender, or an Affiliate or investment advisor thereof and which is engaged in making, purchasing,
holding or otherwise investing in commercial loans. A person or entity shall be deemed to be “controlled by” any other
person or entity if such person or entity possesses, directly or indirectly, power to direct or cause the direction of the management
and policies of such person or entity whether by contract, ownership of voting securities, membership interests or otherwise.

 

“Business
Day” shall mean any day other than Saturday or Sunday on which commercial banking institutions are open for business
in Austin, Texas.

 

“Capital
Securities” shall mean all shares, interests, participations or other equivalents (however designated, whether voting
or non-voting) of capital, whether now outstanding or issued or acquired after the date hereof, including common shares, preferred
shares, membership interests in a limited liability company, limited or general partnership interests in a partnership or any
other equivalent of such ownership interest.

 

“Cargile”
shall mean Charles F. Cargile, the current Chief Executive Officer and a member of the Board of Directors of Borrower.

 

“Change
in Control” shall mean (a) the acquisition of beneficial ownership, directly or indirectly, by any Person or group of
Persons acting jointly or otherwise in concert of capital stock representing more than 50% of the aggregate ordinary voting power
represented by the issued and outstanding capital stock of Borrower or (b) the acquisition of Control of Borrower by any Person
or group of Persons acting jointly or otherwise in concert; in each case whether as a result of a tender or exchange offer, open
market purchases, privately negotiated purchases or otherwise. For purposes of this definition, “Control” means,
in respect of a particular Person, the possession, directly or indirectly, pursuant to a written agreement, of the power to make
key decisions with regard to the management of such Person.

 

    	 	 	 

     

    

 

“Closing
Date” shall mean the date on which this Agreement and all of the other Loan Documents required to be delivered concurrently
with this Agreement shall have been executed and delivered to Lender, the conditions precedent to the closing of the Loan shall
have been satisfied and the proceeds of the Loan shall have been disbursed to or for the benefit of Borrower.

 

“Collateral”
shall have the meaning set forth in the Security Agreement.

 

“Default
Interest Rate” shall mean the lesser of Eighteen Percent (18.0%) per annum or the Maximum Rate.

 

“Dividend”
shall mean a payment made, liability incurred, or other consideration given by any Person (other than any stock dividend or stock
split payable solely in Capital Securities of that Person) for the purchase, acquisition, redemption or retirement of any Capital
Securities of that entity or as a dividend, return of capital, or other distribution in respect of that Person’s Capital
Securities.

 

“ERISA”
shall mean the Employee Retirement Income Security Act of 1974, as amended, or any successor act or code.

 

“Environmental
Laws” shall mean all laws, statutes, ordinances, rules, regulations, orders, and determinations of any Governmental
Authority pertaining to health, hazardous substances, natural resources, conservation, wildlife, pollution or the environment.

 

“Event
of Default” shall mean any of the events specified in Section 7.1.

 

“GAAP”
shall mean generally accepted accounting principles of the United States, consistently applied, subject to fiscal year-end adjustments
with respect to any interim financial statements or reports.

 

“Governmental
Authorities” shall mean, collectively, all Federal, state and local or regional governmental agencies, boards, tribunals,
courts or instrumentalities having jurisdiction over Borrower or the Property.

 

“Hazardous
Materials” shall mean any substance that is defined or listed as a hazardous, toxic or dangerous substance under any
Environmental Law or is otherwise regulated or prohibited or subject to investigation or remediation under any Environmental Law
because of its hazardous, toxic or dangerous properties, including (i) any substance that is a “hazardous substance”
under applicable Environmental Law, and (ii) asbestos, petroleum, petroleum products and polychlorinated biphenyls.

 

    	 	2	 

     

    

 

“Head
Office” shall mean Lender’s headquarters, located at 1010 Land Creek Cove, Suite 150, Austin, Texas 78746, or
such other location as Lender may designate by providing Borrower with not less than ten (10) days’ prior written notice.

 

“Insurance
Policies” shall mean the following insurance policies, in each case acceptable to Lender:

 

(a)
Commercial General Liability Insurance for owners, including blanket contractual liability, products and completed operations,
personal injury (including employees), independent contractors, explosion, collapse and underground hazards for bodily injury
and property damage the aggregate as set forth on Schedule 1.1;

 

(b)
Workers’ Compensation Insurance for statutory limits;

 

(c)
Property insurance in the amount of the replacement value of the Equipment (as defined in the Security Agreement);

 

(d)
Such other insurance as is required by any other Loan Document or as Lender may otherwise reasonably require.

 

All
Insurance Policies shall be “occurrence” based policies, issued on forms, by companies and in amounts satisfactory
to Lender. The Lender hereby agrees that the current Insurance Policies in place and the current coverage amounts are satisfactory
to the Lender. All insurance policies shall contain loss-payable clauses in favor of Lender and its successors and assigns, as
loss payee under a Lender’s loss payable endorsement or mortgagee, as applicable, together with a non-contributing mortgagee
clause acceptable to Lender. All policies of liability insurance shall name Lender and its successors and assigns as additional
insureds. All insurance policies and certificates of insurance provided to Lender shall require (30) days’ prior written
notice of cancellation or material diminution in coverage. All insurance policies shall be issued by insurers acceptable to Lender.
Borrower may satisfy the insurance requirements of this Agreement and the other Loan Documents by using “blanket”
policies which cover the property (or the other risks required to be insured hereby or thereby) and other properties or risks
of Borrower, provided that any such blanket policy shall comply with the specific requirements set forth herein or therein.

 

“Legal
Requirements” shall mean all applicable laws, rules, regulations, ordinances, judgments, orders, decrees, injunctions,
arbitral awards, permits, licenses, authorizations, directions and requirements of all Governmental Authorities, including but
not limited to the United States Foreign Corrupt Practices Act.

 

“LIBOR-Based
Rate” shall mean a fluctuating interest rate per annum as shall be in effect from time to time equal to the LIBOR Rate
of Interest, plus Nine Hundred Fifty (950) basis points; provided, however, that in no event shall the LIBOR-Based Rate
be greater than the Maximum Rate.

 

    	 	3	 

     

    

 

“LIBOR
Rate of Interest” shall mean, for any day, the one-month fluctuating rate (expressed as a percentage per annum and adjusted
as described in the last sentence of this definition of LIBOR Rate of Interest) calculated on a Three Hundred Sixty (360) day
calendar year for deposits in United States Dollars as calculated by Intercontinental Exchange (ICE) Benchmark Administration
Limited (“ICE”) (or any successor thereto) as of 11:00 a.m., Austin, Texas time, three (3) Business Days prior
to such date with a term of one (1) month commencing that day. If such rate shall cease to be calculated by ICE (or any successor
thereto) or if Lender determines in good faith that the rate calculated by ICE no longer accurately reflects the rate available
to Lender in the London interbank market, the LIBOR Rate of Interest shall be determined by Lender to be the offered rate as announced
by a recognized commercial service as representing the average LIBOR rate for deposits in United States Dollars (for delivery
on such day) as of 11:00 a.m., Austin, Texas time, three (3) Business Days prior to such date with a term of one (1) month commencing
that day. If the rates referenced in the two preceding sentences are not available, LIBOR will be determined by a reasonable alternate
method mutually agreed to by Lender and Borrower and if Lender and Borrower cannot so agree, Lender and Borrower shall mutually
designate an independent third party to select such reasonable alternative method, with Lender and Borrower hereby agreeing to
accept such selection by such independent third party. Notwithstanding the foregoing, in no event shall the LIBOR Rate of Interest
be less than one and half percent (1.5%) per annum.

 

“Loan”
shall mean the Term Loan.

 

“Loan
Documents” shall mean, collectively, this Agreement, the Notes, the Security Agreement, the Subordination Agreement,
any swap agreements, derivative agreements, interest rate protection agreements or similar agreements entered into by Borrower
with Lender or any Affiliate of Lender, and any other document, instrument or agreement evidencing or securing the Loan, together
with any and all modifications and amendments to any of the foregoing.

 

“Material
Adverse Effect” shall mean a material adverse effect on (i) the business, property or condition (financial or otherwise)
of Borrower taken as a whole; (ii) Borrower’s ability to perform its obligations hereunder or any other Loan Document to
which it is a party, or (iii) the validity or enforceability of this Agreement or any other Loan Document. Notwithstanding the
foregoing, a Material Adverse Effect shall exclude any effect arising from or relating to (i) any action taken by Borrower at
the request of Lender, (ii) interest rates, the U.S. or global economy in general, U.S. or global securities markets in general,
or acts of war (whether or not declared) or terrorism, except to the extent any of the foregoing has a disproportionate negative
impact on Borrower, as compared to other companies similarly situated to Borrower, (iii) changes in any Legal Requirements, except
to the extent such changes have a disproportionate negative impact on Borrower, as compared to other companies similarly situated
to Borrower, (iv) actions taken or omitted to be taken pursuant to the terms of this Agreement, or (v) any matter appropriately
set forth in the Schedules.

 

“Maturity
Date” shall mean June 30, 2020.

 

    	 	4	 

     

    

 

“Maximum
Rate” shall mean the maximum non-usurious rate of interest permitted for that day by whichever of applicable federal
or Texas (or any jurisdiction whose usury laws are deemed to apply to the Loan or any documents executed in connection therewith
despite the intention and desire of the parties to apply the usury laws of the State of Texas) laws permit the higher interest
rate, stated as a rate per annum. On each day, if any, that the Texas Finance Code establishes the Maximum Rate, the Maximum Rate
shall be the “weekly ceiling” (as defined in Section 303 of the Texas Finance Code) for that day. Lender may from
time to time, as to current and future balances, implement any other ceiling under the Texas Finance Code by notice to Borrower,
if and to the extent permitted by the Texas Finance Code. Without notice to Borrower or any other Person, the Maximum Rate shall
automatically fluctuate upward and downward as and in the amount by which such maximum nonusurious rate of interest permitted
by applicable law fluctuates. If no maximum nonusurious rate is established by applicable law, then the term “Maximum Rate”
shall mean a rate of interest equal to Eighteen Percent (18.0%) per annum.

 

“Notes”
shall mean the Senior Note and the Subordinated Note.

 

“Obligations”
shall mean, collectively, Borrower’s obligations for the payment of all sums advanced or to be advanced hereunder, together
with interest on the outstanding principal balance of such sums and with any and all other sums payable by Borrower to Lender
pursuant to this Agreement, the Notes or any other Loan Document, and payment and performance of all of the warranties, representations,
covenants and agreements to be paid, fulfilled, observed and performed by Borrower under each Loan Document to which Borrower
is a party.

 

“PBGC”
shall mean the Pension Benefit Guaranty Corporation, or any successor thereto.

 

“Person”
shall mean an individual, partnership, corporation, limited liability company, trust, unincorporated association, or other entity
or association.

 

“Permitted
Liens” shall mean with respect to any Person:

 

	 	(a)	liens
    for taxes or assessments or governmental charges or levies not yet due or delinquent, or which can thereafter be paid without
    penalty, or which are being contested in good faith by proceedings diligently pursued;
	 	 	 
	 	(b)	carriers’,
    repairmens’, mechanics’, workers’, materialmen’s, sureties, or other like liens arising in the ordinary
    course of business with respect to obligations which are not due or which are contested in good faith by proceedings diligently
    pursued;
	 	 	 
	 	(c)	liens
    placed upon fixed assets hereafter acquired to secure a portion of the purchase price thereof, provided that (i) any such
    lien shall not encumber any other property of Borrower and (ii) the aggregate amount of indebtedness secured by such Liens
    incurred as a result of such purchases during any fiscal year shall not exceed One Hundred Fifty Thousand Dollars ($150,000.00);
    and

 

    	 	5	 

     

    

 

	 	(d)	any
    other lien, encumbrance or charge acceptable to and approved in writing by Lender, including those liens listed on Schedule
    1.1 attached to.

 

“Regulatory
Change” shall mean any change, effective after the date of closing the Loan, in United States Federal or state laws
or regulations (including Regulation D and capital adequacy regulations) or foreign laws or regulations or the adoption or making
after such date of any interpretations, directives or requests applying to a class of banks which includes Lender, under any United
States Federal or state or foreign laws or regulations (whether or not having the force of law) by any court or governmental or
monetary authority charged with the interpretation or administration thereof.

 

“Security
Agreement” shall mean that certain Security Agreement executed by Borrower in favor of Lender pledging and granting
a first priority lien on the Collateral, as defined therein, which represent all the assets of Borrower, except for those encumbered
by Permitted Liens, collateralizing repayment of the Senior Note.

 

“Senior
Note” shall mean that certain promissory note in the amount of Three Million Dollars ($3,000,000.00) executed by Borrower
and payable to Lender to evidence the Term Loan, together with any and all modifications and amendments thereto and any note issued
in substitution or replacement therefore.

 

“Short”
means Kirk Short, the President of the Commercial Solar Division of the Borrower.

 

“Subordinated
Note” shall mean that certain promissory note in the amount of Seven Hundred Fifty Thousand Dollars ($750,000.00) executed
by Borrower and payable to Lender to evidence the Term Loan, together with any and all modifications and amendments thereto and
any note issued in substitution or replacement therefore.

 

“Subordination
Agreement” shall mean that certain Subordination Agreement executed by Borrower and Lender which prioritizes payment
of the Senior Note ahead of payment of the Junior Note.

 

“Subsidiary(ies)”
shall mean, in respect of any Person, any corporation, association, joint stock company, limited liability company, partnership
(whether general, limited or both), or business trust (in any case, whether now existing or hereafter organized or acquired),
of which more than fifty percent (50%) of the outstanding voting Capital Securities or other ownership interest is owned either
directly or indirectly by such Person and/or one or more of its Subsidiaries, or the management of which is otherwise controlled
either directly or indirectly by such Person and/or one or more of its Subsidiaries. Unless otherwise specified to the contrary
herein or the context otherwise expressly requires, the term Subsidiary(ies) shall refer to the Subsidiary(ies) of Borrower.

 

“Term
Loan Amount” shall mean the loan in the aggregate principal amount of $3,750,000.00 as evidenced by the Notes.

 

“UCC”
shall mean the Uniform Commercial Code in effect in the State of Delaware from time to time.

 

    	 	6	 

     

    

 

1.2
Accounting Terms. Any accounting terms used in this Agreement which are not specifically defined herein shall have the
meanings customarily given them in accordance with GAAP. Calculations and determinations of financial and accounting terms used
and not otherwise specifically defined hereunder and the preparation of financial statements to be furnished to Lender pursuant
hereto shall be made and prepared, both as to classification of items and as to amount, in accordance with sound accounting practices
and GAAP as in effect on the date of this Agreement.

 

1.3
Other Terms Defined in UCC. All other capitalized words and phrases used in this Agreement and not otherwise specifically
defined in this Agreement shall have the respective meanings assigned to such terms in the UCC, to the extent the same are used
or defined in the UCC.

 

ARTICLE
2.

THE TERM LOAN

 

2.1
Term Loan. Lender agrees to loan to Borrower and Borrower agrees to borrow, on the date of execution of this Agreement,
a sum equal to the Term Loan Amount. At the time of borrowing, Borrower agrees to execute the Notes. The Loan shall be subject
to the terms and conditions of this Agreement, the Security Agreement, the Notes and the Subordination Agreement.

 

2.2
Interest Rate. The outstanding principal balance of the Loan shall bear interest at the LIBOR-Based Rate, and interest
shall be computed, assessed and payable as set forth below.

 

2.3
Payment of the Term Loan. Subject to the remainder of this Article 2, the Loan shall be repaid in monthly installments
on the first day of each calendar month (“Installment Payments”) as follows:

 

(a)
During the period beginning on the first month after the Closing Date and continuing until the last month preceding the Maturity
Date, the Installment Payments shall be equal to the amount of accrued interest on the outstanding Term Loan Amount calculated
at the LIBOR-Based Rate.

 

(b)
On the Maturity Date, the entire outstanding Term Loan Amount, plus all accrued interest on the outstanding Term Loan Amount calculated
at the LIBOR-Based Rate shall be paid.

 

2.4
Calculation of LIBOR-Based Rate. On the date which is three (3) Business Days prior to the date each Installment Payment
is due pursuant to the Loan (the “Calculation Date”), Lender will deliver to Borrower a billing statement setting
forth the LIBOR Rate of Interest on such Calculation Date (“Current LIBOR Rate of Interest”). Such Current
LIBOR Rate of Interest shall be used to determine the amount of the applicable Installment Payment due three (3) Business Days
after the Calculation Date.

 

2.5
Default Interest Rate. Interest on overdue payments and interest accruing during an Event of Default shall accrue and bear
interest at the Default Interest Rate.

 

    	 	7	 

     

    

 

2.6
Prepayment; Exit Fee.

 

(a)
Borrower may not prepay the Loan within one (1) year of the Closing Date. Beginning one (1) year following the Closing Date, Borrower
may prepay the Loan in whole and not in part, provided, however, that in the event Borrower prepays the Loan, refinances
the Loan, or otherwise when the Loan is paid in full prior to the Maturity Date, Borrower shall pay the sum of (i) Three Hundred
Seventy-Five Thousand Dollars ($375,000.00) if the Loan is prepaid on or prior to March 31, 2020 or (ii) Four Hundred Thirty-Five
Thousand Dollars ($435,000.00) if the Loan is prepaid after March 31, 2020 but prior to the Maturity Date (such amount, the “Exit
Fee”) in addition to all amounts of principal and accrued interest due and owing on the Loan, with such Exit Fee being
payable to the holders of the Senior Note and not to the holders of the Subordinated Note. All payments shall first be applied
to all accrued and unpaid interest, with the remainder, if any, applied to unpaid principal.

 

(b)
The Exit Fee shall be deemed consideration for Borrower’s right to prepay the Loan and shall not be deemed interest payable
hereunder; provided however, in the event any court of applicable jurisdiction determines that the application of the Exit Fee
would cause the effective rate of interest on the Loan to be greater than the Maximum Rate, such Exit Fee shall be reduced such
that the effective rate of interest on the Loan is equal to the Maximum Rate.

 

(c)
Borrower at any time may request from Lender to prepay the Loan in part, and may only do so with Lender’s consent, which
consent can be denied in Lender’s sole discretion, and pursuant to terms mutually agreed between Borrower and Lender. Any
such prepayments shall first be applied to all accrued and unpaid interest, with the remainder, if any, applied to unpaid principal.

 

2.7
Closing Fee. Borrower shall pay to Lender a non-refundable fully earned closing fee in the amount of Ninety-Three Thousand
Seven Hundred Fifty Dollars ($93,750.00) on the Closing Date (“Closing Fee”).

 

2.8
Payments to Lender. All amounts payable hereunder by Borrower to Lender shall be paid pursuant to the wire transfer instructions
set forth in Schedule 2.8 hereto unless otherwise designated by Lender to Borrower in writing.

 

2.9
Fees and Prepaid Charges Fully Earned. Borrower agrees that the Closing Fee and any and all other loan fees payable hereunder
as of the Closing Date are earned fully as of the date of the Loan and will not be subject to refund, except as required by law.

 

2.10
Use of Proceeds: The proceeds of the Term Loan may be used by Borrower only in the ordinary course of its business. The
proceeds of the Term Loan may not be used for personal, family or household purposes.

 

    	 	8	 

     

    

 

ARTICLE
3.

ADDITIONAL COSTS; INDEMNIFICATION

 

3.1
Additional Costs; Regulatory Change.

 

(a)
Notwithstanding any conflicting provision of this Agreement to the contrary, if any applicable law or regulation shall (i) subject
Lender to any tax, levy, impost, duty, charge, fee, deduction or withholding of any nature with respect to the Loan, this Agreement,
any of the Notes, or any other Loan Document or the payment by Borrower of any amounts payable to Lender with respect to the Loan,
this Agreement, any of the Notes, or any other Loan Document; or (ii) materially change the basis of taxation of payments to Lender
of the principal of or the interest on any Note or any other amounts payable to Lender under this Agreement or any other Loan
Document; or (iii) impose on Lender any other condition or requirement with respect to this Agreement, any of the Notes or any
other Loan Document, and if the result of any of the foregoing is (A) to increase the cost to Lender of making, funding or maintaining
all or any part of the principal of any of the Loan, or (B) to reduce the amount of principal, interest or any other sum payable
by Borrower to Lender under this Agreement, any Note or any other Loan Document, or (C) to require Lender to make (or Borrower
to withhold) any payment or to forego any interest or other sum payable by Borrower to Lender under this Agreement, any Note or
any other Loan Document, the amount of which payment or foregone interest or other sum is measured by or calculated by reference
to the gross amount of any sum receivable or deemed received by Lender from Borrower under this Agreement, any Note or any other
Loan Document, then, and in each such case, Borrower will pay to Lender, within ten (10) days of written notice, such additional
amounts as will (upon the mutual agreement of Lender and Borrower) be sufficient to compensate Lender for such additional cost,
withholding reduction, payment or foregone interest or other sum. Anything in this paragraph to the contrary notwithstanding,
the foregoing provisions of this paragraph shall not apply in the case of any additional cost, reduction, payment or foregone
interest or other sum resulting solely from or arising solely as a consequence of any taxes charged upon or by reference to the
overall net income, profits or gains of Lender.

 

(b)
If any present or future applicable law shall make it unlawful for Borrower to perform any of its agreements or obligations under
this Agreement, any Note or any other Loan Document, and Lender shall reasonably determine (which determination shall be conclusive
and binding on Borrower) that as a consequence of the effect or operation (whether direct or indirect) of any such applicable
law, any of the rights, remedies, powers or privileges of Lender under or in respect of this Agreement, any of the Notes or any
other Loan Document shall be or become invalid, unenforceable, or materially restricted then Lender may, by giving notice to Borrower,
declare all of the Obligations, including without limitation the entire unpaid principal of the Notes, all of the unpaid interest
accrued on the Notes and any and all other sums due and payable by Borrower to Lender under this Agreement, the Notes and any
other Loan Document, to be immediately due and payable, and, thereupon, such Obligations shall (if not already due and payable)
forthwith become and be due and payable without further notice or other formalities of any kind, all of which are hereby expressly
waived.

 

    	 	9	 

     

    

 

3.2
Indemnification for Losses. Without derogating from any of the other provisions of this Agreement or any other Loan Document,
Borrower hereby absolutely and unconditionally agrees to indemnify Lender, upon demand at any time and as often as the occasion
therefor may require, against any and all claims, demands, suits, actions, damages, losses, costs, expenses and all other liabilities
whatsoever which Lender or any of its directors, managers, or officers may sustain or incur as a consequence of (a) any failure
by Borrower to pay any amount payable under this Agreement, any Note or any other Loan Document as and when such amount shall
first have become due and payable (giving effect, however, to expiration of the period of grace (if any) applicable thereto),
or (b) the acceleration of the maturity of any of the Obligations, or (c) any failure by Borrower to perform or comply with any
of the terms and provisions of this Agreement, any Note or any other Loan Document to which Borrower are a party. Such claims,
demands, suits, actions, damages, losses, costs or expenses shall include, without limitation (a) any costs incurred by Lender
in carrying funds to cover any overdue principal, overdue interest or any other overdue sums payable by Borrower under this Agreement,
any Note, or any other Loan Document; (b) any interest payable by Lender to the lenders of the funds borrowed by Lender in order
to carry the funds referred to in clause (a) of this Section; and (c) any losses (but excluding losses of anticipated profit)
incurred or sustained by Lender in liquidating or re-employing funds acquired from third parties to make, fund or maintain all
or any part of the Loan.

 

3.3
Statements by Lender. A statement signed by an officer of Lender setting forth any additional amount required to be paid
by Borrower under Sections 3.1 or 3.2 of this Agreement together with third party documentation evidencing such amounts, shall
be submitted by Lender to Borrower in connection with each demand made at any time by Lender under either such Section. A claim
by Lender for all or any part of any additional amounts required to be paid by Borrower under such Sections may be made before
or after any payment to which such claim relates. Each such statement shall, in the absence of manifest error, constitute conclusive
evidence of the additional amount required to be paid to Lender.

 

ARTICLE
4.

CONDITIONS PRECEDENT

 

4.1
General. Lender shall not be required to consummate the transactions contemplated by this Agreement or to disburse the
proceeds of any of the Loan unless the conditions set forth in this Article 4 shall have been completed to Lender’s
satisfaction.

 

(a)
Borrower shall have executed the Loan Documents and shall have delivered the same to Lender. All of the Loan Documents shall be
in full force and effect.

 

(b)
Borrower shall have provided Lender with a certificate from a duly authorized representative of Borrower: (i) attaching true and
complete copies of Borrower’s Certificate of Incorporation and Bylaws, and certifying that the same are in full force and
effect and unmodified; (ii) attaching a resolution authorizing Borrower’s execution and delivery of this Agreement and the
other Loan Documents to which Borrower is a party and its performance of its obligations under this Agreement and the other Loan
Documents, and confirming that such resolution is in full force and effect; and (iii) identifying the officers, members or managers
of Borrower who are authorized to execute and deliver this Agreement for and on behalf of Borrower, and providing specimen signatures
for such officers;

 

    	 	10	 

     

    

 

(c)
Borrower shall have provided Lender with a certificate of its existence and good standing;

 

(d)
Borrower shall have appointed Joshua E. Schechter or such other person as may be designated by Lender from time to time (“Lender’s
Designee”) to its Board of Directors;

 

(e)
Reserved;

 

(f)
Reserved;

 

(g)
Short and Borrower will have commenced to convert all 1,506,024 shares of Short’s Series B Preferred Stock of Borrower into
1,506,024 shares of Common Stock of Borrower and provide written evidence thereof to Lender. Within ten (10) days of the Closing
Date, Borrower will provide satisfactory evidence thereof to Lender. Furthermore, on or before the Closing Date, Borrower will
not have sold, repurchased or granted a security interest in or otherwise transferred or encumbered any of its Preferred Stock.

 

(h)
Borrower shall have paid the Closing Fee of Ninety-Three Thousand Seven Hundred Fifty Dollars ($93,750.00) to Lender and all costs
and expenses of Lender in connection with this Agreement or the closing of the transactions contemplated hereby including, without
limitation, reasonable attorney’s fees, with such cost and expenses not to exceed Thirty-Five Thousand Dollars ($35,000.00);
and

 

(i)
UCC-3 lien releases set forth on the attached Schedule 4.1(i) with respect to the Collateral as required by Lender have been obtained
on all of the Collateral.

 

(j)
Landlord Waiver in a form acceptable to Lender from the landlord of the property leased by Borrower located at 15 Pepsi Way, Durham,
California.

 

(k)
Evidence of Borrower’s termination of the credit card agreement between Wells Fargo Bank and Borrower.

 

4.2
Conditions for the Benefit of Lender. All of the foregoing conditions are imposed for the benefit of Lender. No party other
than Lender shall have standing to require the satisfaction of any such conditions, and no party shall be entitled to assume that
Lender would refuse to make advances of Loan proceeds if any one or more of such conditions were to remain unfulfilled. No party
other than Lender shall be or be deemed to be the beneficiary of any such conditions; any one or more, or all, of such conditions
may be waived if Lender shall deem it advisable to do so.

 

ARTICLE
5.

GENERAL REPRESENTATIONS AND WARRANTIES

 

Borrower
represents and warrants to Lender, and such representations and warranties shall be deemed to be continuing representations and
warranties during the entire life of this Agreement, and thereafter, so long as any Obligations remain unpaid and outstanding:

 

    	 	11	 

     

    

 

5.1
Organization and Existence.

 

(a)
Borrower (i) is duly organized, validly existing and in good standing as a corporation under the laws of the State of Delaware;
(ii) has all necessary power and authority and full legal right to own its property and to carry on its businesses; and (iii)
has all necessary power and authority, and full legal right, to enter into this Agreement and each of the other Loan Documents
to which it is a party, and to perform, observe and comply with all of its agreements and obligations under this Agreement and
the other Loan Documents.

 

(b)
Borrower has provided Lender with true, correct and complete copies of its Certificate of Incorporation and Bylaws and all of
the exhibits thereto (collectively, “Borrower’s Organizational Documents”). All of Borrower’s Organizational
Documents are unmodified and in full force and effect.

 

5.2
Due Authorization.

 

(a)
The execution and delivery by Borrower of this Agreement and the other Loan Documents to which Borrower is a party, the performance
by Borrower of all of its agreements and obligations under such documents and the making of the borrowings contemplated by this
Agreement have been duly authorized by all necessary action on the part of Borrower and do not and will not (i) contravene any
provision of Borrower’s Organizational Documents; (ii) except those in which consent has been procured, conflict with, or
result in a breach of the terms, conditions or provisions of, or constitute a default under, or result in the creation of any
lien (other than those in favor of Lender pursuant to the Loan Documents) upon any of its property under any agreement, indenture,
mortgage or other instrument to which Borrower is a party or by which Borrower is bound or affected; (iii) violate or contravene
any provision of any law, rule or regulation (including, without limitation, the Regulations of the Board of Governors of the
Federal Reserve System) or any order, ruling or interpretation thereunder or any decree, order or judgment of any court or governmental
or regulatory authority, bureau, agency or official binding on Borrower; or (iv) except for those that have been procured, require
any waivers, consents or approvals by any of the creditors or trustees for creditors of Borrower.

 

(b)
Except as to matters which Borrower has procured, obtained or performed prior to or concurrently with its execution and delivery
of this Agreement, no approval, consent, order, authorization or license by, or giving notice to, or taking any other action with
respect to, any governmental or regulatory authority or agency is required under any provision of any applicable law:

 

(i)
for Borrower’s execution and delivery of this Agreement and the other Loan Documents to which it is a party or Borrower’s
performance of its obligations under this Agreement and the other Loan Documents and the borrowings contemplated by this Agreement;
or

 

(ii)
for the continuing legality, validity, binding effect, enforceability or admissibility in evidence of this Agreement and the other
Loan Documents.

 

    	 	12	 

     

    

 

5.3
General. To the knowledge of Borrower, there are no actions, suits or proceedings pending, threatened against Borrower
or any Subsidiary which could, if determined adversely to Borrower or such Subsidiary, reasonably be expected to have a Material
Adverse Effect upon Borrower or such Subsidiary.

 

5.4
Loan Documents. On or before the Closing Date, Borrower will have duly executed and delivered each of the Loan Documents
to which it is a party and each such Loan Document will be in full force and effect. Each Loan Document to which Borrower is a
party shall constitute the legal, valid and binding obligation of Borrower, enforceable against Borrower in accordance with its
terms (except as such enforceability may be limited by bankruptcy, insolvency or similar laws generally affecting the enforcement
of creditor’s rights).

 

5.5
No Default. To the knowledge of Borrower, no event has occurred and is continuing, and no condition exists, which constitutes
(or would, with the provision of notice or the passage of time, or both, constitute) an Event of Default. Borrower has no right
to rescind, cancel or terminate this Agreement or any other Loan Document.

 

5.6
Financial Statements. Except for the absence of footnotes in monthly unaudited financial statements, all of the financial
statements of Borrower and each Subsidiary delivered to Lender in connection with the transactions contemplated by this Agreement
have been prepared in accordance with GAAP, and fairly present in all material respects the financial condition of Borrower and
such Subsidiary as of the dates on which the same were prepared. There are no material liabilities or obligations, secured or
unsecured (whether accrued, absolute or actual, contingent or otherwise), not reflected in such financial statements, which, in
accordance with GAAP, should have been reflected therein. From the date of the most recent financial statements provided to Lender
until the date hereof, there has been no materially adverse change in the financial condition of Borrower or any Subsidiary.

 

5.7
Tax Returns. Except as set forth on Schedule 5.7, Borrower and each Subsidiary has filed all federal, state and other tax
returns required to be filed in respect of all taxing periods prior to the date of this Agreement (or has been granted extensions
with respect to same), and has paid or made reasonable provision, in accordance with applicable laws for the payment of all taxes
(if any) which have or may become due and payable pursuant to any such returns (or pursuant to any matters raised by audits).
Except as set forth on Schedule 5.7, each of Borrower and each Subsidiary has paid or caused to be paid all real and personal
property taxes and assessments and other governmental charges lawfully levied or imposed on or against Borrower or such Subsidiary
or its property (other than those presently payable without payment of interest or penalty and those which are subject to contests
initiated in good faith and diligently prosecuted and as to which adequate reserves have been provided).

 

5.8
Solvency. Borrower does not intend to, and does not believe that it will, incur debts beyond its ability to pay as they
mature, taking into account the timing of and amounts of cash to be received by it and the timing of the amounts of cash to be
payable on or in respect of its indebtedness. After giving effect to the closing of the transactions contemplated by this Agreement
and the disbursement of the proceeds of the Loan, shall be solvent.

 

    	 	13	 

     

    

 

5.9
Business Loan. The Loan is intended solely for business purposes, and no proceeds of the Loan shall be used for personal,
family or household purposes.

 

5.10
Locations. Schedule 5.10 sets forth all locations (whether owned or leased) at which Borrower conducts business
or at which Borrower’s assets are located (the “Locations”).

 

5.11
Subsidiaries. Except as listed on Schedule 5.11, Borrower has no Subsidiaries.

 

5.12
Encumbrances. To the knowledge of Borrower after due inquiry, there are no security interests in, or liens, mortgages,
or other encumbrances on the Collateral, except Permitted Liens set forth in Schedule 1.1.

 

5.13
Environmental. Neither Borrower nor any Subsidiary has used Hazardous Materials on, in, under or otherwise affecting any
real or personal property now or at any time owned, occupied or operated by Borrower or such Subsidiary or upon which Borrower
or such Subsidiary has a place of business (collectively and severally the “Property”) in any manner which
violates any Environmental Law(s), to the extent that any such violation could reasonably be expected to result in a Material
Adverse Effect; and, to the best of Borrower’s knowledge, no prior owner, occupant or operator of any of the Property, or
any current or prior owner, occupant or operator thereof, has used any Hazardous Materials on or affecting the Property in any
manner which violates any Environmental Law(s), to the extent that any such violation could reasonably be expected to result in
a Material Adverse Effect. Neither Borrower nor any Subsidiary has ever received any notice of any violation of any Environmental
Law(s), and to the best of Borrower’s knowledge, there have been no actions commenced or threatened by any party against
Borrower or any Subsidiary or any of the Property for non-compliance with any Environmental Law(s), which, in any case, could
reasonably be expected to result in a Material Adverse Effect.

 

5.14
Property Taxes. Except as otherwise provided herein, there are no property taxes due with respect to the Collateral until
the 2019 calendar year.

 

5.15
Names; Assumed Names. The name and jurisdiction of formation of Borrower and each Subsidiary is exactly as set forth in
this Agreement. Within the past five (5) years, except as set forth on Schedule 5.15, Borrower and each Subsidiary have not conducted
their business under any corporate, trade, assumed or fictitious name, and following the date hereof Borrower and each Subsidiary
will not conduct their business under any other corporate, trade, assumed or fictitious name without thirty (30) days prior written
notice to Lender, and execution and delivery of such additional documents as Lender may request.

 

5.16
Litigation. Except as set forth on Schedule 5.16, there is no action, suit or proceeding pending, or to the knowledge of
Borrower threatened, against any Borrower or any Subsidiary, or before any court, governmental department, administrative agency
or instrumentality which, if such action, suit or proceeding were adversely determined, (i) would subject Borrower or any Subsidiary
to any liability not fully covered by insurance, or (ii) would reasonably be expected to result in a Material Adverse Effect on
the financial position or the results of operations of Borrower, any Subsidiary or their business or their ability to perform
their obligations under this Agreement, the Notes or any Loan Document to which they are a party.

 

    	 	14	 

     

    

 

ARTICLE
6.

COVENANTS OF BORROWER

 

Borrower
covenants with and warrants to Lender that until all of the Obligations are paid and satisfied in full, Borrower shall comply
with, observe, perform or fulfill, and shall cause each Subsidiary to comply with, observe, perform or fulfill, all of the covenants
set forth in this Article 6, unless Lender shall have otherwise consented in writing.

 

6.1
Financial Statements and Reports.

 

(a)
Borrower and each Subsidiary shall keep complete and accurate books and records, in accordance with GAAP, consistently applied
at all times during the pendency of the Loan, and shall permit Lender and its representatives, upon reasonable prior notice, to
examine and make copies of the same at any reasonable time

 

(b)
Within one hundred eighty (180) days after the end of each fiscal year, Borrower and each Subsidiary shall furnish to Lender its
annual audited financial statements, including a balance sheet as of the last day of such fiscal year and the related profit and
loss and cash flow statements for such year, in a form acceptable to Lender. The foregoing financial statements shall be audited
by the Company’s then current independent certified public accountants in accordance with GAAP, consistently applied.

 

(c)
Borrower shall, within five (5) days after the filing thereof, furnish to Lender a copy of Borrower’s Federal income tax
returns.

 

(d)
Borrower shall furnish to Lender a copy of each Subsidiary’s annual Federal income tax return (including all supporting
schedules) within five (5) days after the filing thereof.

 

(e)
Borrower will furnish and cause each of its Subsidiaries to furnish such other information regarding its financial matters as
Lender may reasonably request promptly after Lender’s request therefor.

 

(f)
Borrower shall maintain compliance with the requirements of the Securities & Exchange Commission, NASDAQ and all other regulatory
agencies that govern the financial instruments and securities of Borrower.

 

6.2
Insurance. Borrower shall maintain insurance coverage pursuant to the Insurance Policies or any new policies contracted
by Borrower which contain substantially the same coverage as the Insurance Policies.

 

6.3
Borrower’s Existence. Borrower shall, and cause each of its Subsidiaries to, preserve and maintain its existence
and all of its rights, franchises and privileges, except for the disposition or dissolution of any Special Purpose Vehicles formed
for the development of project based business.

 

    	 	15	 

     

    

 

6.4
Compliance with Legal Requirements. Borrower shall, and shall cause each of its Subsidiaries to, comply in all material
respects with all applicable Legal Requirements, and will promptly notify Lender in the event that Borrower or any of its Subsidiaries
receives any notice, claim or demand from any Governmental Authority asserting the violation of any applicable Legal Requirement
which could reasonably be expected to have a Material Adverse Effect upon Borrower or any of its Subsidiaries. Borrower or its
Subsidiaries may contest the propriety or the applicability of any Legal Requirement, provided (a) that Borrower shall provide
Lender with written notice of such contest; (b) that there shall then be no uncured Event of Default; (c) that such contest shall
be initiated in good faith in accordance with the appropriate legal or administrative procedure therefor and diligently prosecuted
to a timely completion; (d) that such contest shall not, in Lender’s judgment, jeopardize the security for the Loan or any
portion of Borrower’s assets to imminent risk of loss or forfeiture; and (e) Borrower shall indemnify Lender from and against
any and all liability, loss, cost, damage and expense which may be incurred by or asserted against any such party in connection
with or arising from such contest.

 

6.5
Notice of Litigation. Borrower shall, and shall cause each of its Subsidiaries to, furnish or cause to be furnished to
Lender within 5 Business Days after Borrower or any of its Subsidiaries shall have first become aware of the same, a written notice
identifying, and describing Borrower’s or such Subsidiary’s proposed response to the commencement or institution of
any legal or administrative action, suit, proceeding or investigation by or against Borrower or such Subsidiary in or before any
court, governmental or regulatory body, agency, commission or official, board of arbitration or arbitrator which could reasonably
be expected to have or result in a Material Adverse Effect on Borrower or any Subsidiary. For the purposes of this Agreement,
any such litigation or other matter in which the sum in dispute is Two Hundred Fifty Thousand Dollars ($250,000.00) or more will
be deemed to be material.

 

6.6
Notice of Other Events.

 

(a)
If (and on each occasion that) any Event of Default shall occur, Borrower shall, promptly after becoming aware of the same, furnish
Lender with a written notice specifying the nature of such Event of Default and describing Borrower’s proposed response
thereto.

 

(b)
Immediately upon Borrower first becoming aware of any of the following occurrences, Borrower will notify Lender in writing of:
(i) the business failure, insolvency or bankruptcy of Borrower or any Subsidiary; (ii) the rescission, cancellation or termination
of, or the occurrence of a breach, default or event of default under or with respect to any material agreement or contract to
which Borrower or any of its Subsidiaries is a party; or (iii) any events of default under any material agreement of Borrower
or any of its Subsidiaries or any material violations of any laws, regulations, rules or ordinances of any governmental or regulatory
body.

 

6.7
Payment of Taxes and Other Claims. Borrower shall, and shall cause each of its Subsidiaries to, pay and discharge promptly
before interest and penalties accrue, all taxes, assessments and other governmental charges or levies at any time imposed upon
it or upon its income, revenues or property, as well as all claims of any kind (including claims for labor, material or supplies)
which, if unpaid, might by law reasonably be expected to become a lien, encumbrance, or charge upon all or any part of its income,
revenues or property.

 

    	 	16	 

     

    

 

6.8
Payment of Indebtedness. Borrower will duly and punctually pay or cause to be paid the principal and interest on the Loan
and all fees and other amounts payable hereunder or under the Loan Documents as and when required by this Agreement and the other
Loan Documents.

 

6.9
Governmental Consents and Approvals.

 

(a)
Borrower will obtain, and will cause each of its Subsidiaries to obtain, all such approvals, consents, orders, authorizations
and licenses from, give all such notices promptly to, register, enroll or file all such agreements, instruments or documents promptly
with, and promptly take all such other action with respect to, any Governmental Authority, regulatory agency or official or any
central bank or other fiscal or monetary authority, agency or official, as may be required from time to time under any provision
of any applicable law:

 

(i)
for the performance by Borrower or such Subsidiary of any of its agreements or obligations under the Notes, this Agreement or
any other Loan Document to which it is a party or for the payment by Borrower to Lender at its Head Office of any sums which shall
become due and payable by Borrower thereunder;

 

(ii)
to ensure the continuing legality, validity, binding effect or enforceability of the Notes or any other Loan Document;

 

(iii)
to continue the proper operation of the business and operations of Borrower.

 

6.10
Pension and Benefit Plans. Borrower will, and will cause each of its Subsidiaries to, at all times meet the minimum funding
requirements of ERISA with respect to Borrower’s and each of its Subsidiaries’ employee benefit plans subject to ERISA,
if any; promptly after Borrower or any of its Subsidiaries knows or has reason to know of the occurrence of any event which would
constitute a reportable event or prohibited transaction under ERISA, or that the PBGC, Borrower or any of its Subsidiaries has
instituted or will institute proceedings to terminate an employee pension plan, deliver to Lender a certificate of an authorized
officer of Borrower setting forth details as to such event or proceedings and the action which Borrower proposes to take with
respect thereto, together with a copy of any notice of such event which may be required to be filed with the PBGC; and upon the
request of Lender, furnish to Lender (or cause the plan administrator to furnish Lender) a copy of the annual return (including
all schedules and attachments) for each plan covered by ERISA, and filed with the Internal Revenue Service by Borrower or any
of its Subsidiaries, as applicable, not later than ten (10) days after such report has been so filed. Borrower shall be permitted
to voluntarily terminate employee pension or benefit plans, so long as any such voluntary termination is done in accordance with
ERISA and does not result in a material liability or obligation to Borrower.

 

    	 	17	 

     

    

 

6.11
Further Assurances. Borrower will execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered,
any and all further assurances reasonably requested by Lender from time to time in order to give full effect to any of the Loan
Documents.

 

6.12
Use of Proceeds. Borrower shall use all Loan proceeds only in the ordinary course of its business.

 

6.13
Board of Directors. Within thirty (30) days of the Closing Date, the Board of Directors of Borrower shall select a Chairman
of the Board of Directors and a Chairman of the Borrower’s Audit Committee. Cargile shall not be entitled to serve as the
Chairman of the Board of Directors of Borrower.

 

6.14
Acquisition of Margin Securities. Borrower shall not own, purchase or acquire (or enter into any contract to purchase or
acquire) any “margin security” as defined by any regulation of the Federal Reserve Board as now in effect or as the
same may hereafter be in effect.

 

6.15
Payment of Claims; Encumbrances. Borrower shall, and shall cause each of its Subsidiaries to, (i) keep the Collateral free
of any lien, encumbrance, charge or claim (other than the Permitted Liens and except for the liens and encumbrances arising under
the Loan Documents); and (ii) not encumber its assets, whether now owned or hereafter acquired, or any portion thereof or interest
therein, permit any lien, levy, attachment or restraint to be made or filed against its assets, whether now owned or hereafter
acquired, or any portion thereof or interest therein or permit any receiver or assignee for the benefit of creditors to be appointed
to take possession of its assets, whether now owned or hereafter acquired, or any portion thereof.

 

6.16
Borrower’s Organizational Documents. Borrower shall not, and shall cause each of its Subsidiaries not to, modify,
amend or terminate any of Borrower’s or any of its Subsidiaries’ Organizational Documents, or permit any of Borrower’s
or any of its Subsidiaries’ Organizational Documents to be modified, amended or terminated, without the prior written consent
of Lender. Lender’s consent to any such modification, amendment or termination shall not be unreasonably withheld, provided
(a) that there shall be no Event of Default at the time of Borrower’s request for such consent, and (b) the proposed modification,
amendment or termination does not (with the provision of notice or the passage of time, or both) violate any provision of this
Agreement.

 

6.17
Prohibition of Assignments, Transfers and Encumbrances. Without Lender’s prior written consent, Borrower shall not,
and shall cause each of its Subsidiaries not to, directly or indirectly (i) except in the ordinary course of business, sell, transfer,
lease or otherwise dispose of all or any portion of its assets or any interest therein; (ii) except for Permitted Liens, encumber,
hypothecate, create a security interest or create or permit any lien upon or affecting the Collateral; (iii) assign, transfer
or encumber any interest of Borrower or any of its Subsidiaries under this Agreement or under any other Loan Document, or delegate
any of Borrower’s or any of its Subsidiaries’ duties or obligations hereunder or thereunder; (iv) make any material
change in its capital structure; (v) change its name, consolidate with or merge into any other Person or permit any other Person
to merge into it; or (vi) enter into any sale-leaseback transaction. Notwithstanding the foregoing, Borrower may in the ordinary
course of its business, engage in any project based business and any exit activities in connection therewith shall not be deemed
to be in violation of this Loan Agreement, including this Section 6.17.

 

    	 	18	 

     

    

 

6.18
Prohibition of Other Indebtedness. Without Lender’s prior written consent, Borrower shall not, and shall cause each
of its Subsidiaries not to, directly or indirectly, become or remain obligated for any indebtedness for borrowed money, or for
any indebtedness incurred in connection with the acquisition of any property, real or personal, tangible or intangible, except:
(i) indebtedness to Lender, (ii) unsecured trade payables and accrued liabilities arising in the ordinary course of Borrower’s
business, (iii) any non-recourse project finance loans incurred by any of its Subsidiaries that are special purpose vehicles formed
for project development, (iv) any indebtedness of the Company or its Subsidiaries outstanding as of the date of this Agreement.
Notwithstanding anything herein to the contrary, no later than May 31, 2018, Borrower shall (a) obtain a full lien release from
Wells Fargo Bank with respect to the lien on all of Lender’s assets granted pursuant to the credit card agreement between
Wells Fargo Bank and (b) provide Lender evidence of such lien release and diligently pursue the appropriate filing of such lien
release.

 

6.19
Loans, Acquisitions, Guaranties, Affiliate Transactions. Without Lender’s prior written consent, Borrower shall not,
and shall cause each of its Subsidiaries not to, directly or indirectly, (i) make any loan, investment, advance or extension of
credit to any Person other than in the ordinary course of business, (ii) purchase, create or acquire all or substantially all
of the properties or assets of any other Person or any Capital Securities of any other Person, (iii) incur any obligation as surety
or guarantor, other than in the ordinary course of business, (iv) enter into any transaction with an Affiliate that is not on
terms and conditions as favorable to Borrower as would be obtainable in a transaction with a Person that is not an Affiliate or
(v) subordinate any indebtedness due it from any Person to indebtedness of other creditors of such Person.

 

6.20
Dividends; Distributions. Without Lender’s prior written consent, Borrower shall not, and shall cause each of its
Subsidiaries not to, pay any Dividends on its Capital Securities.

 

6.21
Expenses; Taxes; Indemnity.

 

(a)
Borrower agrees to pay or cause to be paid, and to save Lender harmless against liability for the payment of, all reasonable and
documented out-of-pocket costs and expenses (including but not limited to reasonable fees and expenses of counsel) (i) incurred
by Lender arising from or relating to this Agreement, the Loan Documents and all related due diligence and travel, including,
without limitation, the negotiation, preparation, execution and delivery of this Agreement and the other Loan Documents, provided,
however, that in no event shall such payment by Borrower exceed Thirty-Five Thousand Dollars ($35,000), (ii) incurred by Lender
arising from or relative to the administration or performance of this Agreement and the other Loan Documents or any requested
amendments, modifications, supplements, waivers or consents (without regard to whether any of the same is ultimately entered into
or granted) to this Agreement or any Loan Document and (iii) reasonably incurred by Lender in connection with the enforcement
or preservation of rights under this Agreement or any other Loan Document.

 

    	 	19	 

     

    

 

(b)
Borrower hereby agrees to pay all stamp, document, transfer, recording, filing, registration, search, sales and excise fees and
taxes and all similar impositions (excluding taxes on the overall net income or gross receipts of Lender) now or hereafter determined
by Lender to be payable in connection with this Agreement or any other Loan Document or any other documents, instruments or transactions
pursuant to or in connection herewith or therewith, and Borrower agrees to save Lender harmless from and against any and all present
or future claims, liabilities or losses with respect to or resulting from any omission to pay or delay in paying any such fees,
taxes or impositions. All payments of the Term Loan shall be made by Borrower to Lender free and clear of and without deduction
or withholding for or on account of any taxes whatsoever, withholdings or other deductions. If any taxes are required to be withheld
or paid, then the Borrower shall pay such taxes to the applicable taxing authority and Borrower shall send the original or a certified
copy of the receipt evidencing such tax payment, within thirty (30) days of the payment date to the Lender. Borrower shall pay
and indemnify and hold the Lender harmless from and against, any taxes that may at any time be asserted in respect of the Term
Loan.

 

(c)
Borrower hereby agrees to reimburse and indemnify Lender and each of its officers and directors (collectively, the “Indemnified
Parties”) from and against any and all documented losses, liabilities, claims, damages, expenses, obligations, penalties,
actions, judgments, suits, costs or disbursements of any kind or nature whatsoever (including, without limitation, the fees and
disbursements of counsel for such Indemnified Party in connection with any investigative, administrative or judicial proceeding
commenced or threatened, whether or not such Indemnified Party shall be designated a party thereto) that may at any time be imposed
on, asserted against or incurred by such Indemnified Party as a result of, or arising out of, or in any way related to or by reason
of, this Agreement or any other Loan Document or any transaction from time to time contemplated hereby including, without limitation,
with respect to any Hazardous Materials or a violation of Environmental Laws, but excluding (i) any such losses, liabilities,
claims, damages, expenses, obligations, penalties, actions, judgments, suits, costs or disbursements resulting solely from the
gross negligence or willful misconduct of such Indemnified Party, as finally determined by a court of competent jurisdiction;
and (ii) any consequential, indirect, incidental, punitive or lost profits or revenues.

 

6.22
Pension or Profit Sharing Plans. Borrower shall not, and shall cause each of its Subsidiaries not to, allow any fact, condition
or event to occur or exist with respect to any employee pension or profit sharing plan established or maintained by Borrower or
any of its Subsidiaries which might reasonably be expected to constitute grounds for termination of any such plan or for the court
appointment of a trustee to administer any such plan; or permit any such plan to be the subject of termination proceedings (whether
voluntary or involuntary) which may reasonably be expected to result in a liability of Borrower or any of its Subsidiaries to
the PBGC which, in the reasonable opinion of Lender, could reasonably be expected to have a Material Adverse Effect.

 

    	 	20	 

     

    

 

6.23
Field Audits. Borrower agrees that Lender may conduct audits of Borrower, its Subsidiaries and their operations, the results
of which shall be reasonably satisfactory to Lender, and the costs of which shall be paid by Borrower. Such audits will be conducted
no more than one (1) time per calendar year absent an Event of Default. Lender may conduct a field examination of the Collateral
at Borrower’s expense, no more than one (1) time per year absent an Event of Default.

 

6.24
Collateral. Borrower shall maintain the Collateral (as defined in the Security Agreement) in accordance with all recommend
manufacturer specifications, as applicable, and applicable law. Borrower shall replace any parts or equipment comprising the Collateral
in a timely manner, and with new parts and/or equipment of the same brand and model whenever possible or parts and/or equipment
of a higher quality.

 

6.25
Change in Control. Borrower shall not consummate a Change in Control without causing all Obligations that are then due
and owing to be paid at or prior to the closing thereof.

 

6.26
Lender’s Board Member. Lender shall have the option at any time to designate another individual to replace Lender’s
Designee on Borrower’s Board of Directors; provided however, such right shall terminate when all Obligations have been satisfied
in full and Lender shall thereafter have no further obligation to maintain Lender’s Designee on Borrower’s Board of
Directors after all Obligations have been satisfied in full.

 

6.27
Landlord Waivers. Borrower shall obtain and deliver to Lender no later than May 31, 2018 a Landlord Waiver in a form reasonably
acceptable to Lender from the landlord of the property leased by Borrower located at 1030 Winding Creek Road, Suite 100, Roseville,
California. With respect to all of the other Locations (as defined in Section 5.10) leased by Borrower, Borrower shall make commercially
reasonable efforts to obtain and deliver to Lender Landlord Waivers in forms reasonably acceptable to Lender from the landlords
of all such other Locations.

 

ARTICLE
7.

DEFAULTS AND REMEDIES

 

7.1
Events of Default. Any of the following events shall constitute an “Event of Default” under this Agreement:

 

(a)
Borrower shall default in the payment of any sum which is or becomes due and payable under this Agreement, any Note or any other
Loan Document.

 

(b)
Any material representation or warranty made by Borrower or any of its Subsidiaries in this Agreement or in any certificate or
document furnished under the terms of this Agreement shall prove untrue in any material respect.

 

(c)
Borrower, any of its Subsidiaries or any of the persons other than Lender designated herein shall fail to observe or perform any
other condition, covenant or agreement of Borrower or such Subsidiary set forth in this Agreement which is reasonably likely to
result in a Material Adverse Effect and which failure is not cured within five (5) business days after receipt of written notice
from Lender.

 

    	 	21	 

     

    

 

(d)
Borrower or any of its Subsidiaries shall default in the performance of any of its obligations under any other Loan Document to
which Borrower or such Subsidiary is a party, and such default shall not be cured or remedied by Borrower or such Subsidiary within
any applicable period of grace or cure with respect thereto.

 

(e)
Default in the payment of any other obligation of Borrower or any of its Subsidiaries for borrowed money, or in the observance
or performance of any conditions, covenants or agreements related or given with respect to any obligations for borrowed money,
except for non-recourse project finance loans by any of its Subsidiaries that are special purpose vehicles formed for project
development, sufficient to permit the holder thereof to accelerate the maturity of such obligation, including, without limitation,
obligations of Borrower or such Subsidiary to Lender.

 

(f)
Judgment(s) for the payment of money in excess of the sum of One Hundred Fifty Thousand Dollars ($150,000.00) in the aggregate
shall be rendered against Borrower or any of its Subsidiaries and such judgment(s) shall remain unpaid, unvacated, unbonded or
unstayed by appeal or otherwise for a period of thirty (30) consecutive days from the date of its entry and such judgment is not
covered by insurance from a solvent insurer who is defending such action without reservation of rights.

 

(g)
Borrower or any of its Subsidiaries (i) shall admit in writing the inability to pay its or his debts as they become due and payable;
or (ii) shall make an assignment for the benefit of creditors; or (iii) shall be adjudicated a bankrupt; or (iv) shall file a
voluntary petition in bankruptcy or effect a plan or other arrangement with creditors; or (v) shall have applied for, or permitted
the appointment of, a receiver or trustee or custodian for all or substantially all of the property or assets of Borrower or such
Subsidiary, or a trustee, receiver or custodian shall have been appointed for all or substantially all of the property or assets
of Borrower or any of its Subsidiaries who shall not have been discharged within sixty (60) days after the date of his appointment.

 

(h)
Borrower shall dissolve or merge with or into any entity, or Borrower or any of its Subsidiaries shall dispose of all or any material
portion of its assets; provided that the disposition of all or any material portion of its assets by any of its Subsidiaries formed
as special purpose vehicles for project development shall not be deemed to be an Event of Default under this Section 7.1(h).

 

(i)
The occurrence of any “reportable event”, as defined in ERISA, which (i) is determined to constitute grounds for (A)
termination by the PBGC of any pension plan of Borrower or any of its Subsidiaries or (B) the appointment by the appropriate United
States District Court of a trustee to administer such plan and (ii) is reasonably likely to result in a Material Adverse Effect,
and (iii) such reportable event is not corrected and such determination is not revoked within thirty (30) days after (A) notice
thereof has been given to the plan administrator, Borrower or such Subsidiary; or (B) the institution of proceedings by the PBGC
to terminate any such pension plan or to appoint a trustee to administer such plan; or (C) the appointment of a trustee by the
appropriate United States District Court to administer any such pension plan.

 

    	 	22	 

     

    

 

(j)
Any breach or default by Borrower of any term or condition under any swap agreement, interest rate protection agreement, derivatives
agreement, or similar agreements now or hereafter entered into by Borrower with Lender or any Affiliate of Lender.

 

(k)
The occurrence of any event which Lender determines, in the exercise of its reasonable discretion, would reasonably be expected
to have a Material Adverse Effect.

 

(l)
A Change in Control.

 

7.2
Certain Remedies.

 

(a)
If any Event of Default shall occur and be continuing:

 

(i)
Lender may, by giving notice to Borrower, declare all of the Obligations, including the entire unpaid principal balance of the
indebtedness evidenced by the Notes, all interest accrued thereon and any and all other sums payable by Borrower under this Agreement
(including but not limited to any Exit Fee if applicable), the Notes or any other Loan Document, to be immediately due and payable.
Thereupon, all of such Obligations which are not already due and payable shall forthwith become absolutely and unconditionally
due and payable, without presentment, demand, protest or any further notice or any other formalities of any kind, all of which
are hereby expressly and irrevocably waived. Any commitment or obligation, if any, on the part of Lender to make loans or otherwise
extend credit to or in favor of Borrower shall immediately terminate.

 

(ii)
Lender may proceed to protect and enforce all or any of its rights, remedies, powers and privileges under this Agreement, the
Notes or any other Loan Document by action at law, suit in equity or other appropriate proceedings, whether for specific performance
of any covenant contained.

 

(b)
Upon the occurrence and at any time during the continuance or existence of an Event of Default under Section 7.1(g) of this Agreement,
then the Obligations and all indebtedness then outstanding thereunder shall automatically become immediately due and payable without
any notice by Lender to Borrower and any commitment or obligation, if any, on the part of Lender to make loans or otherwise extend
credit to or in favor of Borrower shall immediately terminate. Further, upon the occurrence or at any time during the continuance
or existence of any default hereunder, Lender may collect, deal with and dispose of all or any part of any security in any manner
permitted or authorized by the Delaware Uniform Commercial Code or other applicable law (including public or private sale), and
after deducting expenses (including, without limitation, reasonable attorneys’ fees and expenses), Lender may apply the
proceeds thereof in part or full payment of any of the Obligations, whether due or not, in any manner or order Lender elects.
In addition to the foregoing, upon the occurrence and at any time during the continuance or existence of any default hereunder,
Lender may exercise any and all rights available to it under the Loan Documents or by application of law.

 

    	 	23	 

     

    

 

7.3
No Implied Waiver; Rights Cumulative. No delay by Lender in exercising any right, remedy, power or privilege hereunder
or under any other Loan Document, or available to it at law or in equity, shall impair, prejudice or constitute a waiver of any
such right, remedy, power or privilege or be construed as a waiver of (or acquiescence to) any Event of Default. No right, remedy,
power or privilege conferred on or reserved to Lender under any of the Loan Documents, in equity or at law is intended to be exclusive
of any other right, remedy, power or privilege which may then be, or may thereafter become, available to Lender. All rights, remedies,
powers and privileges available to Lender shall be cumulative; any of the same may be exercised at such time or times and in such
order and manner as Lender shall (in its sole discretion) deem expedient.

 

ARTICLE
8.

MISCELLANEOUS PROVISIONS

 

8.1
Consent or Approval.

 

(a)
In all instances in which Lender’s approval of or consent to any item, matter or circumstance is contemplated by the terms
of this Agreement or any other Loan Document, such approval or consent or the exercise of such judgment shall (unless otherwise
specified) (i) be within the absolute discretion of Lender, and (ii) be expressed only by a specific writing intended for such
purpose and signed by Lender.

 

(b)
Lender shall not, by reason of its consent or approval of any item or matter submitted to it, be deemed to have assumed or undertaken
any responsibility or obligation for the adequacy, accuracy, completeness, efficacy, form or content of any such matter or item.

 

8.2
Duration. This Agreement shall continue in full force and effect and the duties, covenants, and liabilities of Borrower
hereunder and all the terms, conditions, and provisions hereof relating thereto shall continue to be fully operative until all
Obligations have been satisfied in full, provided, however that notwithstanding the provisions of this Section, the Loan shall
be due and payable as set forth in the this Agreement and in the Notes.

 

8.3
Survival of Representations. All representations and warranties made by or on behalf of Borrower in this Agreement or any
other Loan Document shall be deemed to have been relied upon by Lender notwithstanding any investigation which may be made by
Lender. All such representations and warranties shall survive the closing of the transactions described herein and the disbursement
of the proceeds of the Loan until all of the Obligations shall have been fully, finally and indefeasibly paid in full.

 

8.4
Binding Effect. This Agreement shall inure to the benefit of and be binding upon Borrower, Lender, and their respective
successors and assigns; provided, however, that this Agreement and the Loan may not be assigned by Borrower without the consent
of Lender but may be assigned by Lender without the consent of Borrower.

 

8.5
Counterparts. This Agreement may be executed in any number of counterparts (including by electronic delivery of signed
signature pages) and by different parties in separate counterparts, each of which counterparts, when so executed and delivered,
will be deemed to be an original and all of which counterparts, taken together, will constitute one and the same agreement.

 

    	 	24	 

     

    

 

8.6
Notices. Except for any notice required under applicable law to be given in another manner, all notices, requests, consents,
demands, or other communications required or permitted to be given pursuant to this Agreement shall be deemed sufficiently given
when delivered either (i) personally with a written receipt acknowledging delivery, or (ii) three (3) Business Days after the
posting thereof by United States first class, registered or certified mail, return receipt requested, with postage fee prepaid
and addressed to the following:

 

	 	If
    to Lender:	CrowdOut
    Capital, LLC
	 	 	Attn:
    Brian Gilmore, President
	 	 	1010
    Land Creek Cove, Suite 150
	 	 	Austin,
    Texas 78746
	 	 	 
	 	With
    a copy to:	Ewing
    & Jones, PLLC
	 	 	Attn:
    Randolph Ewing
	 	 	6363
    Woodway, Suite 1000
	 	 	Houston,
    Texas 77057
	 	 	 
	 	If
    to Borrower: 	Sunworks
    Inc.
	 	 	Attn:
    Chief Financial Officer
	 	 	1030
    Winding Creek Road, Suite 100
	 	 	Roseville,
    CA 95678
	 	 	 
	 	With
    a copy to: 	Sichenzia
    Ross Ference Kesner LLP
	 	 	Attn:
    Gregory Sichenzia
	 	 	1185
    Avenue of the Americas, 37th Floor
	 	 	New
    York, NY 10036

 

Any
Party, at any time, may designate additional or different addresses for subsequent notices or communication by furnishing notice
to the other Party in the manner described above.

 

8.7
Waiver of Jury Trial. AFTER HAVING THE OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL, AND FOR THEIR MUTUAL BENEFIT, BORROWER
AND LENDER HEREBY EXPRESSLY WAIVE ANY RIGHT TO A TRIAL BY JURY IN CONNECTION WITH ANY DISPUTE WHICH MAY ARISE UNDER OR IN CONNECTION
WITH THIS AGREEMENT.

 

8.8
Entire Agreement. This Agreement, together with other Loan Documents, and that certain Confidentiality Agreement dated
as of March 23, 2018 constitute the entire agreement between Borrower and Lender with respect to the making and funding of the
Loan, and no representations or agreements, express or implied, have been made to or with Borrower not herein or therein contained.
This Agreement shall not be amended or modified, nor may any of its terms or conditions be waived, except by an instrument in
writing duly executed by Lender and Borrower. Lender represents that there are no agreements with Cargile and/or Short, the holders
of the Subordinated Notes, except for the Loan Documents.

 

    	 	25	 

     

    

 

8.9
Jurisdiction; Governing Law. This Agreement shall be governed by and construed, interpreted and enforced in accordance
with the internal, substantive laws of the State of Texas, without giving effect to conflicts of laws principles. The parties
voluntarily and irrevocably submit to the jurisdiction of the courts of the State of Texas located in Travis County, Texas, and
the Federal Courts of the United States of America located in Travis County, Texas, over any dispute between or among the parties
related to or arising out of this Agreement, and each party irrevocably agrees that all such claims in respect of such dispute
shall be heard and determined exclusively in such courts. The parties hereby irrevocably consent to the jurisdiction of such courts
and hereby waive, to the fullest extent permitted by law, any objection which they may now or hereafter have to the venue of such
dispute related to or arising out of this Agreement brought in such court or any defense of inconvenient forum for the maintenance
of such dispute. Each party agrees that a judgment in any such dispute may be enforced in other jurisdictions by suit on the judgment
or in any other manner provided by law. Notwithstanding anything to the contrary contained herein or in any Loan Document, Lender
may bring suit and otherwise make filings in any jurisdiction in which the Collateral is located to enforce its rights pursuant
to this Agreement or the Security Agreement.

 

8.10
Headings. Paragraph headings used in this Agreement are intended for convenience of reference only, and shall not be deemed
to alter, affect or limit the meaning of any provision of this Agreement.

 

8.11
Severability. If any provision of this Agreement, or the application of any provision to any person or circumstance, shall
be invalid or unenforceable to any extent, the balance of this Agreement and the application of all provisions of this Agreement
to all other persons and circumstances shall not be affected thereby; each provision of this Agreement shall remain valid and
enforceable to the fullest extent permitted by law.

 

8.12
Relationship. The relationship between Borrower and Lender is strictly contractual in nature, and is governed entirely
by this Agreement and the other Loan Documents. Nothing contained in this Agreement, and no action which Lender may take hereunder
or in respect of the Loan, will create any agent, partnership, co-venture or joint venture between Borrower and Lender or will
make Lender liable in any manner to any party dealing with Borrower.

 

8.13
Press Releases. Each party consents to the publication by the other party of press releases and advertising material relating
to the Loan using the other party’s name, logo or trademark; provided, however that each party shall provide a draft reasonably
in advance of any press release or advertising material to the other party for review, comment and approval prior to the publication
thereof.

 

8.14
Amendments; Waivers. Borrower covenants and agrees that any decision with respect to any amendments, waivers and enforcement
of Lender’s rights under the Loan Agreement and any other Loan Document shall be made independently of the holders of the
Subordinated Notes.

 

8.15
Patriot Act. Borrower and each of its Subsidiaries is not (or will not be) a person with whom Lender is restricted from
doing business under regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury
of the United States of America (including, those Persons named on OFAC’s Specially Designated and Blocked Persons list)
or under any statute, executive order (including, the September 24, 2001 Executive Order Blocking Property and Prohibiting Transactions
With Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action and is not and shall not engage
in any dealings or transactions or otherwise be associated with such persons. In addition, Borrower hereby agrees to provide to
Lender with any additional information that Lender deems necessary from time to time in order to ensure compliance with all applicable
Laws concerning money laundering and similar activities.

 

[Remainder
of Page Intentionally Left Blank]

 

    	 	26	 

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be executed and delivered of the day and year first set forth above.

 

	 	BORROWER:
	 	 
	 	Sunworks
    Inc.,
	 	a
    Delaware corporation
	 	 	 
	 	By:	/s/
    Paul McDonnel
	 	Name: 	Paul
    McDonnel
	 	Title:	Chief
    Financial Officer
	 	 	 
	 	LENDER:
	 	 
	 	CrowdOut
    Capital, LLC,
	 	a
    Texas limited liability company
	 	 	 
	 	By:	/s/
    Brian Gilmore
	 	 	Brian
    Gilmore, President

 

[Signature Page to Loan Agreement]

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