Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

NOTE PURCHASE AGREEMENT 

DATED AS OF JANUARY 16, 2015 

BY AND AMONG 
 CHENIERE
CCH HOLDCO II, LLC, 
 as Issuer, 

CHENIERE ENERGY, INC., 

as Parent (and solely for purposes of acknowledging and agreeing to Section 9), 

EIG MANAGEMENT COMPANY, LLC, 

as administrative agent for the Note Holders, 

THE BANK OF NEW YORK MELLON, 

as collateral agent for the Note Holders, 

AND 
 THE NOTE
PURCHASERS NAMED HEREIN 

 Note Purchase Agreement 

TABLE OF CONTENTS 
  

							
	SECTION	 	 	  	PAGE	 
			
	SECTION 1	 	 DEFINITIONS
	  	 	2	  
			
	 1.1
	 	 Certain Defined Terms
	  	 	2	  
	 1.2
	 	 Accounting Terms
	  	 	51	  
	 1.3
	 	 Certain Principles of Interpretation
	  	 	51	  
			
	SECTION 2	 	 THE SECURITIES; CLOSING; DELIVERY
	  	 	52	  
			
	 2.1
	 	 Closing
	  	 	52	  
	 2.2
	 	 Additional Notes
	  	 	53	  
	 2.3
	 	 Use of Proceeds
	  	 	53	  
	 2.4
	 	 Cooperation with CCH Senior Financing
	  	 	53	  
			
	SECTION 3	 	 THE NOTES – MATURITY; INTEREST AND FEES; PRINCIPAL PAYMENTS AND PREPAYMENTS
	  	 	54	  
			
	 3.1
	 	 Maturity
	  	 	54	  
	 3.2
	 	 Fees and Interest
	  	 	54	  
	 3.3
	 	 Mandatory Principal Payments and Prepayments
	  	 	56	  
	 3.4
	 	 Application of Payments
	  	 	59	  
	 3.5
	 	 Taxes
	  	 	59	  
	 3.6
	 	 General Provisions Regarding Payment
	  	 	62	  
	 3.7
	 	 Increased Costs
	  	 	62	  
	 3.8
	 	 Minimizing Additional Costs
	  	 	63	  
	 3.9
	 	 Cancellation of Notes
	  	 	63	  
			
	SECTION 4	 	 CONDITIONS TO CLOSING
	  	 	63	  
			
	 4.1
	 	 Conditions to Closing
	  	 	63	  
	 4.2
	 	 General Principles
	  	 	68	  
			
	SECTION 5	 	 REPRESENTATIONS AND WARRANTIES
	  	 	68	  
			
	 5.1
	 	 Existence and Business
	  	 	69	  
	 5.2
	 	 Organizational Matters and Equity Interests
	  	 	69	  
	 5.3
	 	 Power and Authorization; No Violation
	  	 	70	  
	 5.4
	 	 Governmental Authorizations
	  	 	70	  
	 5.5
	 	 Enforceable Obligations
	  	 	70	  
	 5.6
	 	 Litigation
	  	 	71	  
	 5.7
	 	 Financial Statements; Financial Condition, Etc.
	  	 	71	  
	 5.8
	 	 No Material Adverse Effect
	  	 	71	  
	 5.9
	 	 True and Complete Disclosure
	  	 	71	  
	 5.10
	 	 Margin Stock
	  	 	72	  
	 5.11
	 	 Investment Company Act
	  	 	72	  
	 5.12
	 	 Patriot Act, Etc.
	  	 	72	  
	 5.13
	 	 Collateral
	  	 	73	  

 Note Purchase Agreement 

TABLE OF CONTENTS 

(continued) 
  

							
	SECTION	 	 	  	PAGE	 
			
	 5.14
	 	 Solvency
	  	 	73	  
	 5.15
	 	 Taxes
	  	 	73	  
	 5.16
	 	 Investments
	  	 	74	  
	 5.17
	 	 Title, Etc.
	  	 	74	  
	 5.18
	 	 Accounts
	  	 	74	  
	 5.19
	 	 Environmental Matters
	  	 	74	  
	 5.20
	 	 No Default
	  	 	75	  
	 5.21
	 	 Employee Matters
	  	 	75	  
	 5.22
	 	 Sole Purpose Nature; Business; Separateness
	  	 	75	  
	 5.23
	 	 Private Offering by Issuer
	  	 	76	  
			
	 SECTION 6
	 	 AFFIRMATIVE COVENANTS
	  	 	76	  
			
	 6.1
	 	 Compliance with Laws, Etc.
	  	 	76	  
	 6.2
	 	 Payment of Taxes, Payment of Obligations
	  	 	76	  
	 6.3
	 	 Preservation of Corporate Existence, Etc.
	  	 	77	  
	 6.4
	 	 Visitation Rights, Etc.
	  	 	77	  
	 6.5
	 	 Keeping of Books
	  	 	78	  
	 6.6
	 	 Maintenance of Properties, Etc.
	  	 	78	  
	 6.7
	 	 Further Assurances; Grant of Security
	  	 	78	  
	 6.8
	 	 Distributions from CCH Direct Parent
	  	 	79	  
	 6.9
	 	 D&O Insurance
	  	 	79	  
	 6.10
	 	 Separateness Provisions
	  	 	79	  
	 6.11
	 	 Delivery of Information Required Under Foreign Assets Control Regulations, Patriot Act, Foreign Corrupt Practices Act
	  	 	80	  
	 6.12
	 	 CCH Board Observer Rights
	  	 	80	  
	 6.13
	 	 Tax Matters; USRPHC Status and Reporting
	  	 	81	  
			
	 SECTION 7
	 	 NEGATIVE COVENANTS
	  	 	81	  
			
	 7.1
	 	 Liens, Etc.
	  	 	82	  
	 7.2
	 	 Debt
	  	 	82	  
	 7.3
	 	 Prepayments of Debt; Modification of Permitted Senior Debt Documents
	  	 	82	  
	 7.4
	 	 Nature of Business
	  	 	82	  
	 7.5
	 	 Mergers, Etc.
	  	 	83	  
	 7.6
	 	 Sales, Etc. of Assets
	  	 	83	  
	 7.7
	 	 Investments in Other Persons
	  	 	84	  
	 7.8
	 	 Restricted Payments
	  	 	84	  
	 7.9
	 	 Transactions with Affiliates
	  	 	85	  
	 7.10
	 	 Amendments of Constituent Documents
	  	 	85	  
	 7.11
	 	 Partnerships, Formation of Subsidiaries, Etc.
	  	 	85	  
	 7.12
	 	 Contingent Liabilities
	  	 	86	  
	 7.13
	 	 Employees
	  	 	86	  
	 7.14
	 	 ERISA Plans
	  	 	86	  

  
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 Note Purchase Agreement 

TABLE OF CONTENTS 

(continued) 
  

							
	SECTION	 	 	  	PAGE	 
			
	 7.15
	 	 Tax Treatment of Issuer
	  	 	86	  
	 7.16
	 	 Accounts
	  	 	86	  
	 7.17
	 	 Additional Notes
	  	 	86	  
			
	 SECTION 8
	 	 REPORTING COVENANTS
	  	 	87	  
			
	 8.1
	 	 Default Notice
	  	 	87	  
	 8.2
	 	 Annual Financials
	  	 	87	  
	 8.3
	 	 Quarterly Financials
	  	 	87	  
	 8.4
	 	 Litigation
	  	 	87	  
	 8.5
	 	 Creditor Reports
	  	 	88	  
	 8.6
	 	 Agreement Notices, Etc.
	  	 	88	  
	 8.7
	 	 Other Information
	  	 	89	  
	 8.8
	 	 Delivery of Documents
	  	 	89	  
			
	 SECTION 9
	 	 CONVERSION; LIMITATION ON SYNTHETIC SALES; CERTAIN PRE-CLOSING MATTERS
	  	 	90	  
			
	 9.1
	 	 Issuer Initiated Conversion
	  	 	90	  
	 9.2
	 	 Conditions to Conversion for Issuer Initiated Conversion Notice
	  	 	90	  
	 9.3
	 	 Conversion Procedure for Issuer Initiated Conversion
	  	 	92	  
	 9.4
	 	 Repurchase of the Notes Following an Issuer Initiated Conversion Notice
	  	 	92	  
	 9.5
	 	 Note Holder Initiated Conversion
	  	 	93	  
	 9.6
	 	 Conditions to Conversion for Note Holder Initiated Conversion
	  	 	93	  
	 9.7
	 	 Conversion Procedure for Note Holder Initiated Conversion
	  	 	94	  
	 9.8
	 	 Conversion Rate
	  	 	95	  
	 9.9
	 	 Settlement upon Conversion
	  	 	97	  
	 9.10
	 	 Piggyback Conversions
	  	 	98	  
	 9.11
	 	 Effect of Reclassification, Consolidation, Merger or Sale
	  	 	99	  
	 9.12
	 	 Taxes of Shares Issued
	  	 	100	  
	 9.13
	 	 Reservation of Shares
	  	 	101	  
	 9.14
	 	 Shareholder Rights Plan
	  	 	101	  
	 9.15
	 	 Limitations on Synthetic Sales
	  	 	101	  
	 9.16
	 	 Director Rights
	  	 	101	  
	 9.17
	 	 Cooperation
	  	 	102	  
	 9.18
	 	 Tax Matters
	  	 	102	  
	 9.19
	 	 Equity Contribution Agreement
	  	 	102	  
			
	 SECTION 10
	 	 EVENTS OF DEFAULT; REMEDIES
	  	 	103	  
			
	 10.1
	 	 Events of Default
	  	 	103	  
	 10.2
	 	 Remedies
	  	 	106	  
	 10.3
	 	 Issuance of Additional Notes
	  	 	109	  

  
 iii 

 Note Purchase Agreement 

TABLE OF CONTENTS 

(continued) 
  

							
	SECTION	 	 	  	PAGE	 
			
	 SECTION 11
	 	 TERMINATION
	  	 	110	  
			
	 11.1
	 	 Right to Terminate
	  	 	110	  
	 11.2
	 	 Effect of Termination
	  	 	110	  
			
	 SECTION 12
	 	 MISCELLANEOUS
	  	 	111	  
			
	 12.1
	 	 Registration and Transfer of the Notes
	  	 	111	  
	 12.2
	 	 Payment of Expenses and Indemnity
	  	 	113	  
	 12.3
	 	 Right of Setoff
	  	 	116	  
	 12.4
	 	 Notices
	  	 	116	  
	 12.5
	 	 Successors and Assigns; Subsequent Holders of Notes
	  	 	117	  
	 12.6
	 	 Amendments and Waivers
	  	 	117	  
	 12.7
	 	 Ratable Sharing
	  	 	118	  
	 12.8
	 	 Classification of Transaction
	  	 	119	  
	 12.9
	 	 Agent and Collateral Agent
	  	 	119	  
	 12.10
	 	 Investment Representation of Note Purchasers
	  	 	126	  
	 12.11
	 	 Private Placement Representation of Agent
	  	 	129	  
	 12.12
	 	 No Waiver; Remedies Cumulative
	  	 	129	  
	 12.13
	 	 No Third Party Beneficiaries
	  	 	129	  
	 12.14
	 	 Counterparts
	  	 	130	  
	 12.15
	 	 Effectiveness
	  	 	130	  
	 12.16
	 	 Headings Descriptive; Amounts in Dollars
	  	 	130	  
	 12.17
	 	 Marshaling; Recapture
	  	 	130	  
	 12.18
	 	 Severability
	  	 	130	  
	 12.19
	 	 Survival
	  	 	131	  
	 12.20
	 	 Independence of Covenants
	  	 	131	  
	 12.21
	 	 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL
	  	 	131	  
	 12.22
	 	 Confidentiality
	  	 	132	  
	 12.23
	 	 Immunity
	  	 	133	  
	 12.24
	 	 Entire Agreement
	  	 	133	  
	 12.25
	 	 Limited Recourse
	  	 	134	  

  
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 Note Purchase Agreement 

TABLE OF CONTENTS 

(continued) 
  

					
	SECTION	 	 	  	PAGE

 SCHEDULES 
  

			
	Schedule 1.1A	  	Base Case Forecast
	Schedule 1.1B	  	Disqualified Note Holders
	Schedule 1.1C	  	Estimated Train Three Senior Debt Service1
	Schedule 1.3E	  	Knowledge
	Schedule 2.1	  	Note Holders and Notes
	Schedule 3.6B	  	Note Holder Payment Instructions
	Schedule 4.1K	  	Know Your Customer Requirements
	Schedule 5.2	  	Organizational Matters
	Schedule 5.13	  	Collateral Filings, Etc.
	Schedule 5.19	  	Environmental Matters
	Schedule 12.4	  	Notice Addresses

 EXHIBITS 
  

			
		  	Form of:
	Exhibit A-1	  	Initial Note
	Exhibit A-2	  	Additional Note
	Exhibit B	  	Tax Compliance Certificate
	Exhibit C	  	Registration Rights Agreement
	Exhibit D	  	Management Rights Agreement
	Exhibit E	  	Offer to Repay Notice
	Exhibit F-1	  	Issuer Initiated Conversion Notice
	Exhibit F-2	  	Note Holder Initiated Conversion Notice
	Exhibit F-3	  	Repurchase Notice
	Exhibit G	  	EIG Indemnification Agreement
	Exhibit H	  	Equity Contribution Agreement
	Exhibit I	  	Sullivan & Cromwell LLP Opinion
	Exhibit J-1	  	Issuer Pledge Agreement
	Exhibit J-2	  	Parent Pledge Agreement
	Exhibit K	  	Closing Date Certificate
	Exhibit L	  	Letter to Co-Placement Agents

  

	1 	To be delivered at the Closing. 

  
 v 

 This NOTE PURCHASE AGREEMENT (including all Schedules and Exhibits hereto, this
“Agreement”) is dated as of January 16, 2015 among CHENIERE CCH HOLDCO II, LLC, a Delaware limited liability company (“Issuer”), EIG MANAGEMENT COMPANY, LLC, a Delaware limited liability company,
as administrative agent for the Note Holders (“Agent”), THE BANK OF NEW YORK MELLON, a New York banking corporation, as collateral agent for the Note Holders (“Collateral Agent”), each Person identified as a
Note Purchaser on the signature pages hereto (collectively, “Note Purchasers”), and, solely for purposes of acknowledging and agreeing to Section 9, CHENIERE ENERGY, INC., a Delaware corporation
(“Parent”). Each Note Purchaser and any other registered holder of the Notes (as hereinafter defined) hereunder is referred to as a “Note Holder” and collectively, as “Note Holders.” 

RECITALS 
 A. Parent directly
owns all of the outstanding Equity Interests in Issuer. 
 B. Issuer directly owns all of the outstanding Equity Interests in
Cheniere CCH Holdco I, LLC, a Delaware limited liability company (“CCH Direct Parent”), the direct owner of all of the outstanding Equity Interests in Cheniere Corpus Christi Holdings LLC, a Delaware limited liability company
(“CCH”). 
 C. CCH is the owner of 100% of the Equity Interests of each of Corpus Christi Liquefaction, LLC
(“CCL”) and Cheniere Corpus Christi Pipeline, L.P. and Corpus Christi Pipeline GP, LLC (collectively, “CCP”).  

D. CCL intends to develop, construct, operate, maintain and own the Terminal Facility and CCP intends to develop, construct, operate, maintain
and own the Pipeline, and CCL and CCP are each engaged in certain construction and development activities in respect of the Project. 

E. CCH intends to enter into a senior secured construction and term loan facility made available by various banks and other financial
institutions to finance a majority of the Project Costs (the “CCH Senior Financing”). 
 F. Issuer wishes to
obtain funds in an aggregate principal amount of $1,500,000,000 (the “Issuer Financing”) in order (i) to fund a portion of the Project Costs and (ii) to pay fees and expenses associated with the financing contemplated
hereunder. 
 G. Subject to the terms and conditions set forth herein, Note Purchasers are willing to provide the Issuer Financing to
Issuer. 
 Accordingly, the parties hereby agree as follows: 

	SECTION 1	DEFINITIONS 

 1.1 Certain Defined Terms 

The following terms used in this Agreement shall have the following meanings: 

“Acceptable Debt Service Reserve LC” means an “Acceptable Debt Service Reserve LC” as that term is defined in the
CCH Senior Financing Documents, or if the CCH Senior Financing is repaid in full prior to the Discharge Date, the corresponding term as defined in the Permitted Senior Debt Documents. 

“Account Bank” means the Security Trustee acting in its capacity as such or the bank designated by the Project Entities at
which secured Accounts are established, in each case pursuant to the Permitted Senior Debt Documents. 
 “Account
Collateral” has the meaning set forth in subsection 6.7C. 
 “Account Control Agreement” means
(a) with respect to any deposit account, each deposit account control agreement among Issuer, Collateral Agent on behalf of the Secured Parties and a Depositary Bank, and (b) with respect to any securities account, each securities account
control agreement among Issuer, Collateral Agent on behalf of the Secured Parties and a Securities Intermediary, in each case, which (i) is in form and substance reasonably satisfactory to Agent and (ii) perfects Collateral Agent’s
Priority Lien (subject to the Excepted Liens) in the applicable Account Collateral. 
 “Accounts” means the segregated,
secured, and non-interest-bearing accounts and any related sub-accounts established for the Project pursuant to the Permitted Senior Debt Documents (and, for the avoidance of doubt does not include any account of the Subject Companies). 

“Additional Notes” has the meaning set forth in subsection 10.3. 

“Additional Note Documents” means any documents or agreements relating to the transactions contemplated hereby entered into
by any Note Document Party with Note Holders, Agent or Collateral Agent after the Closing Date. 
 “Additional Proceeds Prepayment
Account” means the account in the name of CCH identified as the “Additional Proceeds Prepayment Account” (or comparable title) in, and established pursuant to, the CCH Senior Financing Documents, or, if the CCH Senior Financing is
repaid in full prior to the Discharge Date, any corresponding account established in accordance with the Permitted Senior Debt Documents. 

“Additional Senior Debt” means additional senior secured debt incurred by the Project Entities as any such Project Entity may
be permitted to incur under all Senior Debt Instruments then in effect and subject to the terms and conditions in such Senior Debt Instruments to the incurrence of such debt, including senior secured debt consisting of Replacement Senior Debt, PDE
Senior Debt, Working Capital Debt and Expansion Senior Debt. 

  
 2 

 “Additional Train” means any LNG liquefaction train in addition to Train One,
Train Two and Train Three. 
 “Additional Train COD” means the date on which all Additional Trains for which the Project
Entities have reached a positive final investment decision have become commercially operable. 
 “Affiliate” means, as to
any Person, any other Person that, directly or indirectly, controls, is controlled by or is under common control with such Person. For purposes of this definition, the term “control” (including the terms “controlling,”
“controlled by” and “under common control with”) of a Person means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of such Person, whether through the
ownership of Voting Interests, by contract or otherwise. For the purposes of the Note Documents, none of the Note Holders will be an Affiliate of Issuer or Parent. 

“Agent” has the meaning set forth in the preamble hereof and shall include any successor agent appointed in accordance with
subsection 12.9F. 
 “Aggregate Amounts Due” has the meaning set forth in subsection 12.7. 

“Aggregate Share Cap” means a number of shares of Parent Common Stock equal to 47,108,466. The Aggregate Share Cap will be
adjusted for any stock split or reverse stock split, as determined by the Issuer after consultation with the Independent Financial Expert. 

“Agreement” has the meaning set forth in the preamble hereof. 

“Anti-Terrorism and Money Laundering Laws” means any of the following (a) Section 1 of Executive Order 13224 of
September 24, 2001, Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism and the associated Global Terrorism Sanctions Regulation (Title 31, Part 594 of the US Code of Federal
Regulations), (b) the Terrorism Sanctions Regulations (Title 31 Part 595 of the US Code of Federal Regulations), (c) the Terrorism List Governments Sanctions Regulations (Title 31 Part 596 of the US Code of Federal Regulations),
(d) the Foreign Terrorist Organizations Sanctions Regulations (Title 31 Part 597 of the US Code of Federal Regulations), (e) the USA Patriot Act of 2001 (Pub. L. No. 107-56) (the “Patriot Act”), (f) the US Money
Laundering Control Act of 1986, (g) the Bank Secrecy Act, 31 U.S.C. sections 5301 et seq., (h) Laundering of Monetary Instruments, 18 U.S.C. section 1956, (i) Engaging in Monetary Transactions in Property Derived from Specified
Unlawful Activity, 18 U.S.C. section 1957, (j) the Financial Recordkeeping and Reporting of Currency and Foreign Transactions Regulations (Title 31 Part 103 of the US Code of Federal Regulations), (k) any other similar federal Requirement
of Law having the force of law and relating to money laundering, terrorist acts or acts of war, and (l) any regulations promulgated under any of the foregoing. 

“Applicable Anti-Corruption Laws” means the Foreign Corrupt Practices Act of 1977 and the rules and regulations thereunder
and all laws, rules, and regulations of any jurisdiction applicable to any of the Subject Companies at the relevant time concerning or relating to bribery or corruption. 

  
 3 

 “Applicable Exchange” means the stock exchange on which the Parent Common Stock
is listed. 
 “Asset Sale” means any sale, lease (as lessor), sale and leaseback, assignment, conveyance, exclusive license
(as licensor), transfer or other disposition or any exchange by CCH Direct Parent or any Project Entity of such Person’s Properties, other than (i) with respect to CCH Direct Parent, any sale, assignment, conveyance, transfer or other
disposition or exchange permitted by subsection 7.6 or (ii) with respect to any Project Entity, (a) transfers between or among the Project Entities, (b) dispositions in compliance with any applicable court or governmental
order, (c) dispositions of obsolete, superfluous or replaced assets, or assets that are not, or cease to be, necessary for the construction and operation of the Project substantially in the manner contemplated by the Note Documents and the CCH
Senior Financing Documents, (d) sales or other dispositions by CCL of LNG in accordance with any LNG SPAs as are permitted under the Permitted Senior Debt Documents or other assets in the ordinary course of the LNG business, (e) sales by
the Project Entities of natural gas in the ordinary course of business, (f) sales, transfers or dispositions of Cash Equivalents and Permitted Investments, (g) liquefaction and other services in the ordinary course of business of the
Project Entities, (h) settlement, release, waiver or surrender of contract, tort or other claims in the ordinary course of business or a grant of a Lien not prohibited by the Note Documents, with respect to CCH Direct Parent, or the Permitted
Senior Debt Documents, with respect to the Project Entities, (i) the transfer or novation of Permitted Hedging Instruments in accordance with the CCH Senior Financing Documents, (j) conveyance of gas interconnection or metering facilities
to gas transmission companies and conveyance of electricity substations to electricity providers pursuant to its electricity purchase arrangements for operating the Project, and (k) dispositions of other property of a Project Entity if such
Project Entity replaces such property within 180 days following such disposition or has obtained a commitment to replace such property within 180 days following such disposition and replaces such property within 270 days following such disposition.

 “Availability Period” means, with respect to the Term Loans, the Term Loan Availability Period, and with respect to any
other Loans, the period commencing on the date of first disbursement of such Loans and ending on the date of the termination or cancellation of all remaining Facility Debt Commitments pursuant to the terms of the corresponding Facility Agreement.

 “Averaging Period” has the meaning set forth in subsection 9.8A. 

“Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy”, as now and hereafter in effect,
or any successor statute. 
 “Bankruptcy Event” means, with respect to any Person, that such Person shall generally be
unable to pay its debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted against such Person in a
court of competent jurisdiction or by such Person seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any
Bankruptcy Law, or seeking the entry of an order for relief or the appointment of a receiver, trustee or other similar official for it or for any substantial part of its Property and, in the case of 

  
 4 

 
any such proceeding instituted against it (but not instituted by it) that is being diligently contested by it in good faith, such proceeding shall remain undismissed or unstayed for a period of
60 days or any of the actions sought in such proceedings (including, without limitation, the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or any substantial part of its
Property) shall occur, or such Person shall take any corporate action to authorize any of the foregoing actions. 
 “Bankruptcy
Law” means the Bankruptcy Code and any similar federal, state or foreign law for the relief of debtors, conservatorship, bankruptcy, general assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency,
reorganization or similar debtor relief laws of the United States or other applicable jurisdictions from time to time in effect and any similar federal, state or foreign law for the relief of debtors affecting the rights of creditors generally. 

“Base Case Forecast” means the base case forecast attached hereto as Schedule 1.1A, as shall be updated on the Closing
Date if necessary such that the Base Case Forecast attached hereto on the Closing Date is the same base case forecast delivered in connection with the closing of the CCH Senior Financing and as may be updated from time to time thereafter in
accordance with the Permitted Senior Debt Documents. 
 “Base Committed Quantity” means the base committed quantity of LNG
required under the Permitted Senior Debt Documents to be contracted to be sold pursuant to LNG SPAs. 
 “Base Interest” has
the meaning set forth in subsection 3.2B(i). 
 “Board” means the Board of Governors of the Federal Reserve System
of the United States of America. 
 “Business Day” means any day excluding Saturday and Sunday on which banks are generally
authorized to be open for business in New York City. 
 “Business Interruption Insurance Proceeds” means all proceeds of
any insurance policies required by the Permitted Senior Debt Documents or otherwise obtained with respect to the Project Entities or the Project insuring the Project Entities against business interruption or delayed start-up. 

“Capitalized Leases” means all leases that have been or should be, in accordance with GAAP, recorded as capitalized leases.

 “Cash” means money, currency or a credit balance in any demand or deposit account. 

“Cash Equity Funding” means cash contributions made, directly or indirectly, to CCH by Parent in the form of Equity Funding,
including, for the avoidance of doubt, the proceeds of the Initial Notes to the extent such proceeds are contributed to CCH. 

  
 5 

 “Cash Equivalents and Permitted Investments” means any Dollar-denominated
investments that are: 
 (a) direct obligations of, or obligations the principal and interest of which are unconditionally
guaranteed by, the United States of America (or any instrumentality thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case, maturing within one year from the date of acquisition
thereof; 
 (b) investments in marketable general obligations issued by any state of the United States of America or any
political subdivision of any such state or any public instrumentality thereof, in each case, maturing within one year from the date of acquisition thereof and having, at such date of acquisition, a credit rating of “A” or higher from
S&P or from Moody’s (or if at such time neither is issuing ratings, then a comparable rating of such other nationally recognized rating agency); 

(c) commercial paper or tax exempt obligations having one of the two highest ratings obtainable from Moody’s or S&P
(or, if at such time, neither is issuing ratings, then a comparable rating of such other nationally recognized rating agency) and, in each case, maturing within one year of acquisition thereof; 

(d) investments in certificates of deposit, bankers’ acceptances and time deposits maturing or putable within one year
from the date of acquisition thereof issued or guaranteed or placed with, and money market deposit accounts issued or offered by, any domestic office of (i) a commercial bank organized under the laws of the United States of America or any state
thereof or (ii) a licensed branch of a foreign bank organized under the laws of any member country of the Organization for Economic Co-Operation and Development, in either case, that has a combined capital and undivided surplus and undivided
profits of at least $500 million; 
 (e) fully collateralized repurchase agreements with a term of not more than 30 days for
securities described in clause (a) of this definition and entered into with a financial institution satisfying the criteria described in clause (d) of this definition; or 

(f) money market funds that (i) comply with the criteria set forth in Securities and Exchange Commission Rule 2a-7 (or any
successor rule) under the Investment Company Act of 1940; (ii) are rated either AAA by S&P and Aaa by Moody’s or at least 95% of the assets of which constitute Cash Equivalents and Permitted Investments described in clauses
(a) through (e) of this definition and/or Dollars; and (iii) have portfolio assets of at least $500 million. 

“Cash Flow” means, with respect to any period, all funds received or, as applicable in the relevant context, projected
to be received by the Project Entities during such period, including: 
 (a) fees and other amounts received by CCL
under the LNG SPAs; 
 (b) earnings on funds held in the secured Accounts of the Project Entities pursuant to the CCH Senior
Financing Documents or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, pursuant to the Permitted Senior Debt Documents (excluding interest and investment earnings that accrue on the amounts on

  
 6 

 
deposit in any of the Senior Debt Service Reserve Account or any account established to prefund interest on any Senior Debt, if any, in any case, that are not transferred to the Revenue Account
pursuant to the Common Security and Account Agreement); 
 (c) any amounts deposited in the Insurance/Condemnation Proceeds
Account to the extent applied to the payment of Operation and Maintenance Expenses or Project Costs in accordance with the provisions of the CCH Senior Financing Documents that correspond to Section 4.4.2 of the CCH Senior Financing Term Sheet
(or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, in accordance with the Permitted Senior Debt Documents); 

(d) all cash paid to any Project Entity during such period as Business Interruption Insurance Proceeds; 

(e) proceeds from the transfer, sale or disposition of assets or rights of any Project Entity in the ordinary course of
business in accordance with the provisions of the CCH Senior Financing Documents that correspond to Section 3.14.17 of the CCH Senior Financing Term Sheet, or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, in
accordance with the provisions of the Permitted Senior Debt Documents (other than as set forth in sub-clause (iii) below) to the extent such proceeds have been or will be used to pay Operation and Maintenance Expenses; 

(f) amounts paid under any Material Project Agreement; and 

(g) amounts received under Permitted Hedging Instruments other than in respect of interest rates, 

but excluding, in each case: 

(i) all amounts required to be deposited in the Insurance/Condemnation Proceeds Account used to reimburse Equity Funding; 

(ii) proceeds of third-party liability insurance; 

(iii) proceeds of the sale of assets permitted by the provisions of the CCH Senior Financing Documents corresponding to
Section 3.14.17(c) or (l) of the CCH Senior Financing Term Sheet (or, if the CCH Senior Financing is repaid in full prior to Discharge Date, the corresponding provisions of the Permitted Senior Debt Documents) unless and until applied to
procure a replacement for such assets; 
 (iv) proceeds of Senior Debt and other Indebtedness (as defined in the Permitted
Senior Debt Documents) (and corresponding amounts received by the Project Entities pursuant to any guarantees) permitted by the provisions of the CCH Senior Financing Documents corresponding to Section 3.14.14 of the CCH Senior Financing Term
Sheet (or, if the CCH Senior Financing is repaid in full prior to Discharge Date, corresponding to the relevant provisions of the Permitted Senior Debt Documents) other than amounts received under Permitted Hedging Instruments included under
clause (g) above; and 
 (v) Equity Funding from Parent or any direct or indirect holders of equity interests of CCH;
and any cash deposited into the Additional Proceeds Prepayment Account. 

  
 7 

 “Cash Flow Available for Debt Service” means, for any period, the amount
that is equal to (a) Cash Flow minus (b) Operation and Maintenance Expenses, in each case for such period; provided that Operation and Maintenance Expenses included in the calculation of Historical Holdco DSCR
and Projected Holdco DSCR will exclude (i) that portion of Operation and Maintenance Expenses arising prior to the Project Completion Date that are Project Costs and (ii) Operation and Maintenance Expenses arising from and after the
Project Completion Date relating to expenditure on items that were, as of the Project Completion Date, outstanding or punch list items under the EPC Contracts that are paid out of Senior Debt or Equity Funding. 

“Casualty Event” means a casualty event that causes all or a portion of the Property of any Project Entity to be damaged,
destroyed or rendered unfit for normal use for any reason whatsoever, other than (a) ordinary use and wear and tear and (b) any Event of Eminent Domain. 

“CCH” has the meaning set forth in the recitals hereto. 

“CCH Board” has the meaning set forth in subsection 6.12. 

“CCH Direct Parent” has the meaning set forth in the recitals hereto. 

“CCH Senior Creditor” means a provider of Senior Debt that benefits from the Common Security and Account Agreement (or, if
the CCH Senior Financing is repaid in full prior to the Discharge Date, the corresponding Permitted Senior Debt Document), including the Facility Lenders, any Senior Noteholders and each Hedging Bank that is party to the Common Security and Account
Agreement (or the corresponding Permitted Senior Debt Document). 
 “CCH Senior Creditor Group Representative” means, with
respect to any Senior Creditor Group (as that term is defined in the CCH Senior Financing Documents, or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, the corresponding term in the Permitted Senior Debt Documents), the
representative of such Senior Creditor Group duly appointed under or as set forth in the Common Security and Account Agreement (or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, the corresponding Permitted Senior Debt
Document). 
 “CCH Senior Financing” has the meaning set forth in the recitals hereto. 

“CCH Senior Financing Documents” means the definitive documents evidencing the CCH Senior Financing, including any loan or
credit agreement, the Common Terms Agreement, all security documents and other ancillary documents associated therewith. 
 “CCH
Senior Financing Term Sheet” means that certain Corpus Christi Liquefied Natural Gas Project, Term Sheet for Common Terms of Senior Debt Financing of Cheniere Corpus Christi Holdings, LLC (Borrower), Corpus Christi Liquefaction, LLC and
Cheniere Corpus Christi Pipeline, L.P. (Guarantors) and Cheniere Energy, Inc. (Sponsor), dated December 12, 2014, without giving effect to any amendment or supplement thereto after the date of this Agreement, and all definitions incorporated by
reference in the Agreement shall also be without any such amendment or supplement. 

  
 8 

 “CCL” has the meaning set forth in the recitals hereto. 

“CCP” has the meaning set forth in the recitals hereto. 

“CCP Pipeline Precedent Agreement” means the transportation precedent agreement, dated July 21, 2014, between CCP and
CCL pursuant to which a firm transportation capacity is secured through the Pipeline. 
 “CERCLA” means the Comprehensive
Environmental Response, Compensation and Liability Act. 
 “Change of Control” means, at any time, the occurrence of any of
the following: 
 (a) Parent shall fail to legally and beneficially own at least a majority of the common equity of Issuer
and a majority of the Voting Interests of Issuer, or otherwise have the power to direct or cause the direction of the management or policies of, and otherwise control Issuer; 

(b) any merger, consolidation or other combination of Parent with or into any other entity and Parent does not constitute the
surviving entity (other than Parent merging, consolidating or combining with or into another wholly owned Subsidiary of Parent); 

(c) a sale of all or substantially all of the assets of Parent; 

(d) a dissolution of Parent; or 

(e) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), is or
becomes the beneficial owners, directly or indirectly, of 50% or more on a fully diluted basis of the Voting Interests of Parent. 

“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or
taking effect of any applicable Requirements of Law, (b) any change in any applicable Requirements of Law or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (c) without limiting
the foregoing, the making or issuance of any applicable request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority. 

“Chief Financial Officer” means, as to any Person, the individual performing on behalf of such Person the duties customarily
performed by a chief financial officer of a business corporation, whether or not such individual has been appointed as the “chief financial officer” of such Person. 

“Closing” has the meaning set forth in subsection 2.1B. 

  
 9 

 “Closing Date” has the meaning set forth in subsection 2.1B. 

“CMI” means Cheniere Marketing, LLC, a limited liability company organized in accordance with the laws of the state of
Delaware. 
 “Co-Placement Agents” means Morgan Stanley & Co. LLC and Goldman, Sachs & Co. 

“Code” means the Internal Revenue Code of 1986. 

“Collateral” means all property and interests in property now owned or hereafter acquired by a Note Document Party upon which
a Lien has been or is purported or intended to have been granted to the Collateral Agent or any Secured Party under any Security Documents. 

“Collateral Agent” has the meaning set forth in the preamble and shall include any successor collateral agent appointed in
accordance with subsection 12.9. 
 “Commercial Operation Date” means the last to occur of the Substantial
Completion (as defined in the applicable EPC Contract and as modified or amended by any modifications or amendments to the applicable EPC Contract or any change orders entered into with respect thereto, but excluding any such modification, amendment
or waiver that results from or is entered into in connection with the development or construction of any Additional Train) for Train One, Train Two or Train Three. 

“Commitment Letter” means the Commitment Letter, dated November 10, 2014, by and between Parent and Agent. 

“Common Security and Account Agreement” means the Common Security and Account Agreement entered into in connection with the
CCH Senior Financing. 
 “Common Terms Agreement” means the Common Terms Agreement entered into in connection with the CCH
Senior Financing. 
 “Confidential Information” means all information received from an Issuer Party or any of their
respective Affiliates or advisers relating to any of them, their businesses or the Project, other than any such information (a) available through public records or otherwise in the public domain at the time of its disclosure or thereafter,
other than as a result of a disclosure by Agent or any Note Holder or any of their respective Affiliates or advisers in breach of this Agreement or other obligations of confidentiality, (b) already in the possession of Agent or Note Holders
prior to disclosure by an Issuer Party or any of their respective Affiliates or advisers and that was not previously acquired by Agent, Note Holders or their respective representatives directly or indirectly from an Issuer Party or any of their
respective Affiliates or advisers or that was independently developed by Agent or Note Holders without access to the Confidential Information, (c) lawfully acquired by Agent or Note Holders from a third party (other than an Issuer Party or any
of their respective Affiliates or advisers) and not known by Agent or Note Holders to be prohibited from so disclosing such information to Agent or Note Holders by a legal, contractual, fiduciary or other obligation; provided that such
information shall immediately become Confidential Information if, and at such time as, Agent, the Note Holders or their respective representatives become aware that the discloser of such information was subject to an

  
 10 

 
obligation not to disclose the same to such party, or (d) that was independently developed by Agent, Note Holders or their respective representatives without the use of the Confidential
Information. 
 “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income
(however denominated) or that are franchise Taxes or branch profits Taxes. 
 “ConocoPhilips License Agreements” means the
ConocoPhillips License Agreement as defined in each EPC Contract. 
 “Constituent Documents” means with respect to any
Person, (a) to the extent such Person is a corporation, the certificate or articles of incorporation and the by-laws of such Person, (b) to the extent such Person is a limited liability company, the certificate of formation or articles of
formation or organization and operating or limited liability company agreement of such Person and (c) to the extent such Person is a partnership, joint venture, trust or other form of business, the partnership, joint venture or other applicable
agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or
organization and, if applicable, any certificate or articles of formation or organization or formation of such Person. 

“Contest” means, with respect to any matter or claim involving any Person, that such Person is contesting such matter or
claim in good faith and by appropriate proceedings timely instituted; provided that the following conditions are satisfied: (a) such Person has posted an appropriate bond or other security or has established appropriate reserves with
respect to the contested items in accordance with GAAP, (b) during the period of such contest, the enforcement of any contested item is effectively stayed and (c) such contest could not reasonably, individually or in the aggregate, be
expected to, have a Material Adverse Effect. 
 “Contractual Obligation” means, as to any Person, any contractual provision
of any security issued by such Person or of any indenture, mortgage, deed of trust, contract, agreement, instrument or other undertaking to which such Person is a party or by which it or any of its Property is bound. 

“Construction Budget and Schedule” means (a) a budget initially attached as a schedule to the Common Terms Agreement
setting forth the timing and amount of projected payments of Project Costs and (b) a schedule initially attached as a schedule to the Common Terms Agreement setting forth the proposed engineering, procurement, construction and testing milestone
schedule for the Project’s development, each as may be amended, supplemented, or otherwise modified as permitted by the Permitted Senior Debt Documents. 

“Conversion Date” means a Note Holder Initiated Conversion Date or an Issuer Initiated Conversion Date, as applicable. 

“Conversion Price” has the meaning set forth in subsection 9.8A. 

“Conversion Rate” has the meaning set forth in subsection 9.8A. 

  
 11 

 “Corporate Trust Office” means the office of Collateral Agent at which at any
particular time its corporate trust business shall be principally administered, which office at the date of the execution of this Agreement is located at the address specified in Schedule 12.4 hereto, or such other address as the
Collateral Agent may designate from time to time by notice to Issuer and Agent, or the principal corporate trust office of any successor to Collateral Agent (or such other address as such successor to Collateral Agent may designate from time to time
by notice to Issuer and Agent). 
 “CQP” means Cheniere Energy Partners, LP. 

“CTA Signing Date” means the date on which the Common Terms Agreement is executed in full. 

“Daily VWAP” means the per share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on
Bloomberg page “LNG US <equity> AQR” (or its equivalent successor if such page is not available) in respect of the period from the scheduled open of trading until the scheduled close of trading of the primary trading session on such
VWAP Trading Day (or if such volume-weighted average price is unavailable or in Issuer’s commercially reasonable judgment (following consultation with an Independent Financial Expert) is manifestly incorrect, the market value of one share of
the Parent Common Stock on such VWAP Trading Day determined, using a volume-weighted average method, by an Independent Financial Expert). The Daily VWAP will be determined without regard to after-hours trading or any other trading outside of the
regular trading session trading hours. 
 “Date Certain” means the EDF LNG SPA DFCD Deadline or to the extent the EDF LNG
SPA is terminated prior to both the Project Completion Date and the Discharge Date, the latest DFCD Deadline (as defined in the applicable LNG SPA) under any LNG SPA in effect solely with respect to Train Three. 

“Date of First Commercial Delivery” or “DFCD” has the meaning given to such term in the applicable LNG SPA.

 “Debt” of any Person means, without duplication, (a) all indebtedness of such Person for borrowed money,
(b) all Obligations of such Person for the deferred purchase price of property or services (other than trade payables not overdue by more than 60 days incurred in the ordinary course of such Person’s business), (c) all Obligations of
such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all Obligations of such Person created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person
(even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all Obligations of such Person as lessee under Capitalized Leases, (f) all
Obligations of such Person under acceptance, letter of credit or similar facilities, and all drafts drawn thereunder, (g) all Obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Equity
Interests in such Person or any other Person or any warrants, rights or options to acquire such Equity Interests, valued, in the case of Redeemable Preferred Interests, at the greater of its voluntary or involuntary liquidation preference plus
accrued and unpaid interests, (h) net payments that such Person would have to make in the event of an early 

  
 12 

 
termination on the date Debt of such Person is being determined in respect of outstanding Hedge Agreements (such payments in respect of any such agreements with a counterparty being calculated
subject to and in accordance with any netting provisions in such agreement), (i) all Guaranteed Debt of such Person and (j) all indebtedness and other payment Obligations referred to in clauses (a) through (i) above of another
Person secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned by such Person, even though such Person has not assumed or
become liable for the payment of such indebtedness or other payment Obligations, provided that in no event shall (A) deferred compensation arrangements, (B) earn-out, non-compete or consulting obligations, (C) earn-out
obligations until such obligations are earned or mature in accordance with GAAP, or (D) working capital or other adjustments to purchase price or indemnification obligations under purchase agreements, in each case, constitute Debt of a Person
for the purposes of subsection 7.2. 
 “Deemed Cash Interest Payments” means the undiscounted stream of all
scheduled quarterly cash interest payments assuming that for all scheduled quarterly cash interest payments following the Commercial Operation Date Issuer pays the stated interest rate on the Notes in cash. If the Commercial Operation Date has not
yet occurred, then for purposes of calculating the Deemed Cash Interest Payments, it is assumed that the Commercial Operation Date is achieved on (i) at any time prior to the issuance of the NTP (as defined in the EPC Contract (T3)),
March 1, 2021 or (ii) at any time on or after the date on which the NTP (as defined in EPC Contract (T3)) is issued, the date that is the Guaranteed Substantial Completion Date (as defined in EPC Contract (T3)) after giving effect to the
issuance of any change orders or amendments entered into in connection therewith. 
 “Default” means any event, act or
condition which with notice or lapse of time, or both, would constitute an Event of Default. 
 “Default Interest Rate”
means a rate per annum equal to (i) the rate payable under subsection 3.2B(i) as Base Interest plus (ii) three percent (3%). 

“Depositary Bank” means a third party bank or other financial institution in which Issuer maintains a deposit account (as
such term is defined in the Uniform Commercial Code) reasonably satisfactory to Agent, together with its successors and permitted assigns, provided that The Bank of New York Mellon and any Affiliates thereof shall be deemed to be reasonably
satisfactory to Agent. 
 “Disbursement Account” means the account in the name of CCH identified as the “Disbursement
Account” (or comparable title) in, and established pursuant to, the CCH Senior Financing Documents, or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, any corresponding account established in accordance with the
Permitted Senior Debt Documents. 
 “Discharge Date” means the date on which all the Note Obligations have been paid and
discharged in full in cash or, to the extent such Note Obligations are converted in accordance with Section 9, shares of Parent Common Stock, and the Note Document Parties have no payment obligations (other than unasserted contingent
reimbursement or indemnity obligations that by their nature expressly survive termination of this Agreement or any other applicable Note Document) to any Secured Party under the Note Documents. 

  
 13 

 “Distributed Property” has the meaning set forth in subsection 9.8B(iii).

 “Distribution Conditions” means: 

(a) no Default or Event of Default has occurred and is continuing or would occur or did occur as a result of the applicable
Restricted Payment; 
 (b) the Commercial Operation Date has occurred; and 

(c) the Historical Holdco DSCR for the prior four quarters ending on the most recently ended Fiscal Quarter (or in the case of
the first three Fiscal Quarters following the Commercial Operation Date, the annualized Historical Holdco DSCR for the period from the Commercial Operation Date until the most recently ended Fiscal Quarter) is equal to or greater than 1.20:1.00 and
(ii) the Projected Holdco DSCR for the next succeeding four Fiscal Quarters is equal to or greater than 1.20:1.00. 

“Disqualified Note Holder” means Note Holders that are (i) competitors and Affiliates of competitors of Parent or any of
its Subsidiaries identified on Schedule 1.1B or otherwise notified to Agent in writing by Issuer (acting reasonably and in good faith) from time to time, but not more than once in any calendar quarter or (ii) hedge funds or Persons that
are determined by the Issuer (acting reasonably and in good faith) to be activist investors. 
 “DOE” means the United
States Department of Energy. 
 “Dollars” or “$” means lawful currency of the United States of America.

 “EDF” means Électricité de France, S.A. 

“EDF LNG SPA DFCD Deadline” means the date that is 60 days prior to the date on which EDF is permitted to terminate the EDF
LNG SPA for any failure to achieve the DFCD by such date, as extended by any waivers, modifications or amendments to the EDF LNG SPA in accordance with the Permitted Senior Debt Documents, but without giving effect to cure rights under any agreement
between EDF and the Security Trustee or any other secured parties under the Permitted Senior Debt. 
 “EIG Confidentiality
Agreement” means the Confidentiality Agreement, dated as of August 18, 2014, by and between Parent and EIG Investment Management Company, LLC. 

“EIG Indemnification Agreement” means that certain Tax Indemnity and Gross Up Agreement, to be dated as of the Closing Date,
by and between Issuer, Parent and EIG MC and in the form attached as Exhibit G hereto. 
 “EIG MC” means EIG
Management Company, LLC. 

  
 14 

 “EIG Note Holder” means a Note Holder that is a fund, account or company managed
by EIG MC or one of its controlled Affiliates. 
 “Environmental Claim” means any administrative, regulatory or judicial
action, suit, judgment or other legal action (collectively, a “claim”) by any Person alleging or asserting liability for investigatory costs, response, cleanup or other remedial costs, legal costs, environmental consulting costs,
governmental environmental response costs, damages to natural resources or other property, personal injuries, fines or penalties arising out of (a) the presence, Release or threatened Release into the environment, of any Hazardous Material at
any location, whether or not owned by the Person against whom such claim is made, or (b) any violation of any Environmental Law. The term “Environmental Claim” will include any claim by any Person or Governmental Authority for
enforcement, cleanup, removal, response, remedial action or damages pursuant to any Environmental Law, and any claim by any third party seeking damages, contribution, indemnification, cost recovery, compensation or injunctive relief under any
Environmental Law. 
 “Environmental Laws” means all federal, state, and local statutes, laws, regulations, rules,
judgments (including all tort causes of action), orders or decrees, in each case as modified and supplemented and in effect from time to time concerning the regulation, use or protection of the environment, coastal resources, protected plant and
animal species, human health and safety as it relates to Hazardous Material exposure or to Releases or threatened Releases of Hazardous Materials into the environment, including ambient air, soil, surface water, groundwater, wetlands, coastal
waters, land or subsurface strata, or otherwise relating to the generation, manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials but excluding for the avoidance of doubt any laws
relating to matters regulated by FERC, DOE, Department of Transportation or OFAC. 
 “Environmental Permit” means any
permit, approval, identification number, license or other authorization required under any applicable Environmental Law. 
 “EPC
Contract” means, individually or collectively (as appropriate), the EPC Contract (T1/T2) and the EPC Contract (T3). 
 “EPC
Contract (T1/T2)” means the Fixed Price Separated Turnkey Agreement for the Engineering, Procurement and Construction of the Corpus Christi Stage 1 Liquefaction Facility, dated as of December 6, 2013, by and between CCL and the EPC
Contractor. 
 “EPC Contract (T3)” means the Fixed Price Separated Turnkey Agreement for the Engineering, Procurement and
Construction of the Corpus Christi Stage 2 Liquefaction Facility, dated as of December 6, 2013, by and between CCL and the EPC Contractor. 

“EPC Contractor” means Bechtel Oil, Gas and Chemicals, Inc. 

“Equity Contribution” has the meaning set forth in subsection 4.1L(ii). 

“Equity Contribution Agreement” means the equity contribution agreement dated on or prior to the Closing Date between the
Parent and CCH and, subject to subsection 4.1L(i), substantially in the form attached as Exhibit H hereto. 

  
 15 

 “Equity Funding” means contributions made to CCH in the form of
Subordinated Debt, equity funding and payment of costs incurred by the Project Entities and cash flows from the Project that are applied or committed to be applied towards certain costs, in each case as permitted by the Permitted Senior Debt
Documents. 
 “Equity Interests” means, with respect to any Person, shares of capital stock of (or other
ownership or profit interests in) such Person, warrants, options or other rights for the purchase or other acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, securities convertible
into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or other acquisition from such Person of such shares (or such other interests), and other
ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting. 

“Equity Proceeds Account” means the account in the name of CCH identified as the “Equity Proceeds Account”
(or comparable title) in, and established pursuant to, the CCH Senior Financing Documents, or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, any corresponding account established in accordance with the Permitted Senior
Debt Documents 
 “ERISA” means the United States Employee Retirement Income Security Act of 1974 and the
regulations promulgated and rulings issued thereunder. 
 “ERISA Affiliate” means any Person, or trade or
business that is a member of any group of organizations: (a) described in Section 414(b), (c), (m) or (o) of the Code of which Issuer is a member and (b) solely for purposes of potential liability under Section 302(b)
of ERISA and Section 412(b) of the Code and the lien created under Section 303(k) of ERISA and Section 430(k) of the Code, described in Section 414(m) or (o) of the Code of which a Subject Company is a member. 

“ERISA Event” means: 

(a) any “reportable event,” as defined in Section 4043 of ERISA or the regulations issued thereunder with
respect to a Plan, other than events for which the 30-day notice period has been waived by current regulation under PBGC Regulation Subsections .27, .28, .29 or .31; 

(b) the failure with respect to any Plan to meet the minimum funding requirements of Section 412 or 430 of the Code or
Section 302 or 303 of ERISA, whether or not waived; 
 (c) the filing pursuant to Section 412(c) of the Code or
Section 303 of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; 
 (d) the
incurrence by a Subject Company or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; 

  
 16 

 (e) the filing of notice of intent to terminate a Plan or the treatment of a Plan
amendment as a termination under Section 4041 of ERISA; 
 (f) the institution of proceedings to terminate a Plan by
PBGC or to appoint a trustee to administer any Plan; 
 (g) the withdrawal by a Subject Company or any of its ERISA
Affiliates from a multiple employer plan (within the meaning of Section 4064 of ERISA) during a plan year in which it was a “substantial employer,” as such term is defined under Section 4064 of ERISA, upon the termination of a
Multiemployer Plan or the cessation of operations under a Plan pursuant to Section 4062(e) of ERISA; 
 (h) the
incurrence by a Subject Company or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Multiemployer Plan; 

(i) the attainment of any Plan of “at risk” status within the meaning of Section 430 of the Code or
Section 303 of ERISA; 
 (j) the receipt by a Subject Company or any ERISA Affiliate of any notice, or the receipt by
any Multiemployer Plan from a Subject Company or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization or in
critical, endangered or seriously endangered status, within the meaning of the Code or Title IV of ERISA; 
 (k) the failure
of a Subject Company or any ERISA Affiliate to pay when due any amount that has become liable to the PBGC, any Plan or trust established thereunder pursuant to Title IV of ERISA or the Code; 

(l) the adoption of an amendment to a Plan requiring the provision of security to such Plan pursuant to Section 436(f) of
the Code; 
 (m) a Subject Company engages in a “prohibited transaction” within the meaning of Section 4975 of
the Code or Section 406 of ERISA that is not otherwise exempt by statute, regulation or administrative pronouncement; or 

(n) the imposition of a lien under ERISA or the Code with respect to any Plan or Multiemployer Plan. 

“Estimated Three Train Reserve Amount” means, for any Fiscal Quarter, the amount equal to the Estimated Three Train
Debt Service for the first six month period following the Commercial Operation Date.  
 “Estimated Three Train Secured Party
Fees” means, for any Fiscal Quarter, the product of (i) the amount of the payments and transfers made with respect to Secured Party Fees contemplated by clause (ii) of the definition of Waterfall Amount, multiplied by
(ii) a fraction, (x) the numerator of which is the Projected Principal Amount (adjusted, as of any date of 

  
 17 

 
determination, to reflect any reductions thereto in accordance with the amortization schedule described in clause (a) of the definition of Estimated Three Train Senior Debt Service),
and (y) the denominator of which is the amount of Senior Debt actually outstanding as of any date of determination; provided that the ratio calculated pursuant to this clause (y) shall never be greater than one. 

“Estimated Three Train Senior Debt Service” means, for any Fiscal Quarter, the sum of (a) the amortization amount for
such Fiscal Quarter, set forth in column 1 of Schedule 1.1C in respect of such Fiscal Quarter, determined with respect to the Projected Principal Amount and based on a 19-year amortization schedule providing for level debt service payments
(based on a residential mortgage style calculation as of the Closing Date and not the amortization schedule set forth in the Base Case Forecast) commencing on the first full Fiscal Quarter after the Commercial Operation Date, plus
(b) interest payable in respect of such Fiscal Quarter on the Projected Principal Amount (taking into account any reductions thereto in accordance with the amortization schedule described in clause (a) of this definition), calculated using
an interest rate equal to the sum, as set forth in column 2 of Schedule 1.1C with respect to such Fiscal Quarter, of (i) the seven-year interest rate swap rate on the Closing Date as reflected in the Federal Reserve Statistical Release
H.15 plus (ii) 2.50%. 
 “Event of Default” means the occurrence of any of the events described in
subsection 10.1. 
 “Event of Eminent Domain” means any action or series of actions by any Governmental Authority
(a) by which such Governmental Authority appropriates, confiscates, condemns, expropriates, nationalizes, seizes or otherwise takes all or a material portion of the Property of any Project Entity (including any Equity Interests of any Project
Entity) or (b) by which such Governmental Authority assumes custody or control of the Property (other than immaterial portions of such Property) or business operations of any Project Entity or any Equity Interests of any Project Entity. 

“Excepted Liens” means (a) with respect to the Account Collateral, (i) Liens in favor any Depositary Bank or
Securities Intermediary of the type described in clause (ii)(d) of the definition of “Permitted Liens”, and (ii) Collateral Agent’s Priority Lien, (b) with respect to the Collateral (as defined in each Pledge Agreement),
Collateral Agent’s Priority Lien and (c) statutory or inchoate Liens described in clauses (ii)(a), or (e) of the definition of “Permitted Liens”. 

“Excess Senior Reserve Funding” means, with respect to any Fiscal Quarter, the amount (if any) by which the payments and
transfers made in respect of the Senior Debt Reserve Shortfall contemplated by clause (v) of the definition of Waterfall Amount during such Fiscal Quarter exceed the amount of payments and transfers that would have been made pursuant to such
clause (v) if the Reserve Amount in respect of such Fiscal Quarter had been equal to the applicable Estimated Three Train Reserve Amount. 

“Excess Senior Debt Service” means, with respect to any Fiscal Quarter, (x) the amortization of and payment of interest
on, outstanding Senior Debt (but excluding any voluntary prepayments of Senior Debt) during such Fiscal Quarter, less (y) the Estimated Three Train Senior Debt Service for such Fiscal Quarter; provided, that the Excess Senior Debt
Service shall in no event be less than zero. 

  
 18 

 “Excess Senior Secured Party Fees” means, with respect to any Fiscal
Quarter, (x) the payments and transfers made with respect to Secured Party Fees contemplated by clause (ii) of the definition of Waterfall Amount during such Fiscal Quarter less (y) the Estimated Three Train
Secured Party Fees for such Fiscal Quarter; provided, that the Excess Senior Secured Party Fees shall in no event be less than zero. 

“Exchange Act” means the Securities Exchange Act of 1934. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to any Note Holder, Agent or any other recipient
of any payment to be made by or on account of any Obligation under any Note Document, (i) income, state franchise or similar Taxes imposed on (or measured by) such recipient’s net income, and branch profits Taxes, in each case,
(A) imposed as a result of the Note Holder, Agent or other recipient of any payment to be made by or on account of any Obligation under any Note Document being organized under the laws of, or having its principal office located in, the
jurisdiction imposing such Tax (or any political subdivision thereof) or (B) that are Other Connection Taxes, (ii) in the case of a Note Holder, U.S. federal withholding Taxes required by Requirements of Law to be deducted or withheld from
any amount payable under the Note Documents to or for the account of such Note Holder pursuant to a law in effect as of the date such Note Holder acquires its interest in the Notes, other than to the extent that, pursuant to subsection 3.5,
amounts with respect to such Taxes were payable to such Note Holder’s assignor immediately before such Note Holder became a party hereto, (iii) Taxes arising as a result of a Note Holder’s failure to provide the Prescribed Forms
pursuant to subsection 3.5F, (iv) any FIRPTA Taxes, and (v) any U.S. federal withholding Taxes imposed under FATCA. 

“Expansion” means any development or construction by the Project Entities of one or more Additional Trains and related
facilities, infrastructure and assets. 
 “Expansion Senior Debt” means additional senior debt incurred to finance an
Expansion. 
 “Export Authorization” means a long-term, multi-contract authorization to export LNG issued by the DOE,
including the FTA Authorization and Non-FTA Authorization. 
 “Facility Agent” means the facility agent under any Facility
Agreement. 
 “Facility Agreements” means the Term Loan Facility Agreement and any individual loan facility agreements (not
including any Indenture or facility agreement for a “term loan B” financing that CCH has elected to treat as an Indenture) evidencing permitted Replacement Senior Debt, Working Capital Debt, PDE Senior Debt and Expansion Senior Debt (and
for which the Facility Agents have acceded to other relevant documentation as required by the Permitted Senior Debt Documents), in each case as required thereby, and “Facility Agreement” shall mean any of the foregoing. 

  
 19 

 “Facility Debt Commitment” means the aggregate principal amount of Loans and
letters of credit that any Facility Lender is committed to disburse to or issue on behalf of CCH under any Facility Agreement. 

“Facility Lenders” means the Term Lenders and the lenders under any other Facility Agreements entered into after the CTA
Signing Date, and “Facility Lender” shall have a corresponding meaning. 
 “FATCA” means Sections 1471
through 1474 of the Code, as of the Closing Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any
agreements entered into pursuant to Section 1471(b)(1) of the Code. 
 “Fees” means the Upfront Fee and any other fees
payable to Agent, Collateral Agent or Note Holders in connection herewith. 
 “FERC” means the Federal Energy Regulatory
Commission of the United States or any successor entity performing similar functions. 
 “Final Maturity Date” means, with
respect to each of the Facility Agreements, the date on which all Senior Debt under such Facility Agreement comes due, whether upon acceleration or otherwise. 

“FIRPTA Taxes” means any U.S. Taxes imposed under Sections 897 or 1445 of the Code. 

“First Notice” has the meaning set forth in subsection 9.10. 

“Fiscal Quarter” means a fiscal quarter of any Fiscal Year. 

“Fiscal Year” means the fiscal year ending on December 31 of each calendar year. 

“Fitch” means Fitch Ratings Ltd. or any successor thereto. 

“FTA Authorization” means an Export Authorization DOE/FE Order No. 3164 (2012), as amended by DOE/FE Order
No. 3164-A (2014), granting a long-term, multi-contract authorization to export LNG by vessel to free trade agreement nations, issued by the DOE to CMI and CCL. 

“Fundamental Amendment” means any amendment, modification or waiver of any provisions of the CCH Senior Financing Documents
that would (i) alter CCH’s, CCL’s and CCP’s ability to incur indebtedness (beyond the indebtedness that is contemplated in the CCH Senior Financing Term Sheet; provided that any amendment, modification or waiver of the CCH
Senior Financing Documents that provides for the incurrence of Expansion Senior Debt shall not constitute a Fundamental Amendment pursuant to this clause (i)), (ii) impose limitations on the ability of CCH, CCL or CCP to make restricted
payments (beyond the limitations that are contemplated in the CCH Senior Financing Term Sheet), (iii) permit the imposition of additional Liens on the assets of CCH and its Subsidiaries (beyond the Liens that are contemplated in the

  
 20 

 
CCH Senior Financing Term Sheet), (iv) require any additional security or any guarantee from Issuer, CCH Direct Parent or any Subsidiary of Issuer other than CCH and its Subsidiaries,
(v) amend, modify or waive any provision relating to any Fundamental Event of Default described in clause (a) or (b) of the definition thereof or (vi) waive any requirements with respect to an LNG Prepayment Obligation other than
in connection with a Permitted SPA Prepayment Waiver; provided that it shall not constitute a Fundamental Amendment pursuant to this clause (vi) if CCH makes a prepayment under the CCH Senior Financing Documents on or before the SPA
Prepayment Deadline in an amount equal to the amount by which the Debt under the CCH Senior Financing must be reduced such that after giving effect to the applicable prepayment and the event that gave rise to the LNG Prepayment Obligation, the SPA
DSCR Prepayment Condition is satisfied. In the event that the CCH Senior Financing is repaid in full prior to the Discharge Date, references in this definition to provisions of the CCH Senior Financing Documents shall be deemed to be references to
the corresponding provisions, if any, of the Permitted Senior Debt Documents for the largest principal amount of then-outstanding Permitted Senior Debt of the Project Entities. 

“Fundamental Event of Default” means (a) the occurrence of an Event of Default (for purposes of this definition, as
defined in the CCH Senior Financing Term Sheet) under any provision of the CCH Senior Financing Documents that corresponds to the following provisions of the CCH Senior Financing Term Sheet: (i) Section 3.16.1(a) (Payment Default),
(ii) Section 3.16.1(d) (Bankruptcy), (iii) Section 3.16.1(e) (Abandonment), (iv) 3.16.1(f) (Destruction) or (v) Section 3.16.1(l) (Failure to Achieve Project Completion Date by Date Certain) (provided that
no Fundamental Event of Default shall be deemed to occur with respect to Section 3.16.1(l) (A) for so long as lenders under the CCH Senior Financing have waived any Event of Default under such section or entered into a forbearance
agreement or other similar agreement with respect to any Event of Default under such section or (B) for up to 90 days after the occurrence of any Event of Default under such section so long as (x) CCH, CCL and CCP are working in good
faith to resolve or cure the event giving rise to such Event of Default under such section and (y) lenders under the CCH Senior Financing have not exercised any remedy with respect to any Event of Default under such section), (b) a breach
of the provision of the CCH Senior Financing Documents that corresponds to Section 3.14.2(a) (Maintenance of Existence, Etc.) of the CCH Senior Financing Term Sheet and (c) any Project Entity shall fail to pay any principal of, premium or
interest on or any other amount payable in respect of any Material Debt of such Project Entity when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall
continue after the applicable grace period, if any, specified in the agreement or instrument relating to such Material Debt. In the event that the CCH Senior Financing is repaid in full prior to the Discharge Date, (1) references in clauses
(a)(i) – (iv) and (b) of this definition to provisions of the CCH Senior Financing Documents shall be deemed to be references to the corresponding provisions, if any, of the Permitted Senior Debt Documents for the largest principal
amount of then-outstanding Permitted Senior Debt of the Project Entities and (2) references in clause (a)(v) of this definition to provisions of the CCH Senior Financing Documents shall be deemed to be references to the corresponding
provisions, if any, of the Permitted Senior Debt Documents for the largest principal amount of then-outstanding Permitted Senior Debt of the Project Entities if such Permitted Senior Debt Documents contain a definition of “Project
Completion”, “Project Completion Date” or a term of similar effect that relates only to Train One, Train Two and Train Three; provided, that if the Commercial Operation Date has not yet occurred and if the Permitted Senior Debt
Documents for the largest principal amount of then-outstanding Permitted Senior Debt of the Project Entities do not contain a definition of “Project Completion,” “Project Completion Date” or a term of similar effect or such
Permitted 

  
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Senior Debt Documents contain a definition of “Project Completion,” “Project Completion Date” or a term of similar effect that relates to any Additional Train, it shall
constitute a Fundamental Event of Default under this Agreement if the Commercial Operation Date has not occurred on or before the Date Certain. 

“Funded Amount” has the meaning set forth in subsection 10.3. 

“GAAP” has the meaning specified in subsection 1.2. 

“Gas and Electricity Hedging Instruments” means natural gas and electricity swaps, options contracts, futures contracts,
options on futures contracts, caps, floors, collars or any other similar arrangements entered into by any Project Entity related to movements in natural gas and electricity prices. 

“Gas and Power Supply Services Agreement” means the gas and power supply services agreement in respect of power and gas
requirements of the Project to the Terminal Facility. 
 “Gas Hedge Provider” means any party (other than the Project
Entities or their Affiliates) that is a party to a Gas and Electricity Hedging Instrument that is secured pursuant to the Permitted Senior Debt Documents. 

“Governmental Authority” means the government of the United States of America or any other nation, or of any political
subdivision thereof, whether federal, state or local, and any agency, authority, municipality, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative
powers or functions of or pertaining to government (including DOE, FERC, the Texas Commission on Environmental Quality, the U.S. Army Corps of Engineers and any supra national bodies such as the European Union or the European Central Bank). 

“Governmental Authorization” means any authorization, approval, consent, franchise, license, covenant, order, ruling, permit,
certification, exemption, notice, declaration or similar right, undertaking or other action of, to or by, or any filing, qualification or registration with, any Governmental Authority. 

“Greenhouse Gas Permit” means the Governmental Authorization issued by the Texas Commission on Environmental Quality under
the Prevention of Significant Deterioration for Greenhouses Gases permitting program of the federal Clean Air Act, 42 U.S.C. §7401 et seq., for the Terminal Facility. 

“Guaranteed Debt” means, with respect to any Person, any Obligation or arrangement of such Person to guarantee or intended to
guarantee any Debt, leases, dividends or other payment Obligations (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including (a) the direct or
indirect guarantee, endorsement (other than for collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by such Person of the Obligation of a primary

  
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obligor, (b) the Obligation to make take-or-pay or similar payments, if required, regardless of nonperformance by any other party or parties to an agreement or (c) any Obligation of
such Person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (A) for the purchase or payment of any such primary
obligation or (B) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property, assets, securities or services primarily for the
purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure or hold harmless the holder of such primary obligation against loss in
respect thereof. The amount of any Guaranteed Debt shall be deemed to be an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guaranteed Debt is made (or, if less, the maximum amount of such primary
obligation for which such Person may be liable pursuant to the terms of the instrument evidencing such Guaranteed Debt) or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof (assuming such Person is
required to perform thereunder), as determined by such Person in good faith. 
 “Hazardous Materials” means: 

(a) any petroleum or petroleum byproducts, flammable materials, explosives, radioactive materials, friable asbestos, urea
formaldehyde foam insulation and polychlorinated biphenyls; 
 (b) any chemicals, other materials, substances or wastes that
are now or hereafter become defined as or included in the definition of “hazardous substances,” “hazardous wastes,” “hazardous materials,” “extremely hazardous wastes,” “restricted hazardous wastes,”
“toxic substances,” “toxic pollutants,” “contaminants,” “pollutants” or words of similar import under any Environmental Law; and 

(c) any other chemical, material, substance or waste that is now or hereafter regulated under or with respect to which
liability may be imposed under Environmental Law. 
 “Hedge Agreement” means any agreement with respect to any swap,
call, cap, collar, floor, forward, future, put, spot or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic,
financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions. 

“Hedging Bank” means a hedging bank that has entered into a Permitted Hedging Instrument, and is otherwise permitted
to be a “Hedging Bank” under the Permitted Senior Debt Documents. 
 “Hedging Instruments” means: 

(a) Interest Rate Hedging Instruments; 

  
 23 

 (b) Gas and Electricity Hedging Instruments; and 

(c) such other derivative transactions of a similar nature that any Project Entity, or solely for purposes of the definition of
the term “Debt” as defined herein, any Person, enters into to hedge risks of any commercial nature. 
 “Hedging
Termination Amount” means any Permitted Hedging Liability falling due as a result of the termination of a Permitted Hedging Instrument or of any other transaction thereunder. 

“Historical Holdco DSCR” means for the applicable period, the ratio of: 

(a) (i) Cash Flow Available for Debt Service plus (ii) interest and other investment income on Cash Equivalents and
Permitted Investments of the Subject Companies, in each case, for such period; to 
 (b) (i) Senior Debt Obligations
incurred or paid in such period, including on the Senior Payment Date that is the last day of such Historical Holdco DSCR period (other than (1) pursuant to voluntary prepayments or mandatory prepayments, (2) LC Costs, (3) interest in
respect of the Senior Debt and net amounts under any Permitted Hedging Instrument in respect of interest rates, in each case paid by any Project Entity prior to the end of the Availability Period, (4) Hedging Termination Amounts and
(5) Working Capital Debt) plus (ii) the sum of all interest payments in respect of the Notes during such period (assuming, for purposes of this calculation, that all interest on the Notes was paid in cash). 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by
or on account of any Obligation of any Note Document Party under any Note Document and (b) to the extent not otherwise described in (a), Other Taxes. 

“Indemnitee” has the meaning set forth in subsection 12.2C. 

“Indenture” means any indenture to be entered into between CCH and the Indenture Trustee pursuant to which one or more series
of Senior Notes will be issued, or, at CCH’s option, a facility agreement for a “term loan B” financing, pursuant to which Senior Debt will be incurred. 

“Indenture Permitted Payment” has the meaning given to the term “Permitted Payment” in any Indenture
pursuant to which Senior Notes are issued; provided that if any Loans are then outstanding, such Senior Notes have been issued at arm’s length in a series of at least $100 million and which is, together with the issuance of any such
Senior Notes thereunder, consistent with Loan Facility Permitted Payments or otherwise expressly permitted pursuant to the terms of the Permitted Senior Debt Documents. 

“Indenture Trustee” means any trustee appointed in the role of indenture trustee under any Indenture or, with respect to a
“term loan B” financing that CCH has elected to be treated as an Indenture, any administrative or other facility agent. 

  
 24 

 “Independent Engineer” means Arturo Aranda and Merlin Associates, the
independent engineer to Agent and Note Holders or, subject to the prior written consent of the Issuer (which shall not be unreasonably withheld, conditioned or delayed), any other Person from time to time appointed by Agent as the successor
independent engineer hereunder. 
 “Independent Financial Expert” means a nationally recognized investment banking
firm selected by Issuer; provided that, for purposes of subsection 7.6 and subsection 7.9, such firm shall be reasonably acceptable to Agent. 

“Industry Standards” means the technical standards promulgated by the American Petroleum Institute, the American Gas
Association, the American Society of Mechanical Engineers, the ASTM (formerly the American Society for Testing and Materials), or the National Fire Protection Association (NFPA). 

“Initial LNG SPAs” means the 

(a) LNG purchase and sale agreements, dated December 4, 2013 and July 1, 2014, respectively, between CCL and PT
Pertamina (Persero); 
 (b) LNG purchase and sale agreements, dated April 1, 2014 and April 7, 2014, respectively,
between CCL and Endesa S.A.; 
 (c) LNG purchase and sale agreement, dated May 30, 2014, between CCL and Iberdrola,
S.A.; 
 (d) LNG purchase and sale agreement, dated June 2, 2014, between CCL and Gas Natural Fenosa LNG SL; 

(e) LNG purchase and sale agreement, dated June 30, 2014, between CCL and Woodside Energy Trading Singapore Pte. Ltd.;

 (f) the LNG purchase and sale agreement, dated July 17, 2014, between CCL and EDF; 

(g) the LNG purchase and sale agreement, dated December 18, 2014, between CCL and EDP Energias de Portugal, S.A.; and 

(h) additional Qualifying LNG SPAs entered into prior to the execution of the Common Terms Agreement. 

“Initial Notes” has the meaning set forth in subsection 2.1A. 

“Initial Senior Debt” means the Senior Debt Obligations owing under the Term Loan Facility Agreement. 

“Insurance/Condemnation Proceeds Account” means the account in the name of CCH identified as the
“Insurance/Condemnation Proceeds Account” (or comparable title) in, and established pursuant to, the CCH Senior Financing Documents, or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, any corresponding account
established in accordance with the Permitted Senior Debt Documents. 

  
 25 

 “Intercreditor Agent” means the intercreditor agent appointed pursuant to the
Permitted Senior Debt Documents. 
 “Investment” in any Person means any loan or advance to such Person, any purchase or
other acquisition of any Equity Interests or Debt or the assets comprising a division or business unit or a substantial part or all of the business of such Person, any capital contribution to such Person or any other direct or indirect investment in
such Person, including any acquisition by way of a merger or consolidation (or similar transaction) and any arrangement pursuant to which the investor incurs Debt of the types referred to in clause (i) or (j) of the definition of
“Debt” in respect of such Person. 
 “Interest Rate Hedging Instrument” means interest rate swaps, option
contracts, futures contracts, options on futures contracts, caps, floors, collars or any other similar arrangements entered into by CCH related to movements in interest rates. 

“Internal Revenue Service” means the United States Internal Revenue Service. 

“International LNG Terminal Standards” means, to the extent not inconsistent with the express requirements of the Permitted
Senior Debt Documents, the international standards and practices applicable to the design, construction, equipment, operation or maintenance of LNG receiving, exporting, liquefaction and regasification terminals, established by the following (such
standards to apply in the following order of priority): (a) a Governmental Authority having jurisdiction over any Project Entity, (b) the Society of International Gas Tanker and Terminal Operators (“SIGTTO”) (or any
successor body of the same) and (c) any other internationally recognized non-governmental agency or organization with whose standards and practices it is customary for reasonable and prudent operators of LNG receiving, exporting, liquefaction
and regasification terminals to comply. In the event of a conflict between any of the priorities noted above, the alphabetic priority noted above shall prevail. 

“International LNG Vessel Standards” means, to the extent not inconsistent with the express requirements of the Permitted
Senior Debt Documents, the international standards and practices applicable to the ownership, design, equipment, operation or maintenance of LNG vessels established by: (a) the International Maritime Organization, (b) the Oil Companies
International Marine Forum, (c) SIGTTO (or any successor body of the same), (d) the International Navigation Association, (e) the International Association of Classification Societies, and (f) any other internationally recognized
agency or non-governmental organization with whose standards and practices it is customary for reasonable and prudent operators of LNG vessels to comply. In the event of a conflict between any of the priorities noted above, the priority with the
alphabetic priority noted above shall prevail. 
 “Issuer” has the meaning set forth in the preamble hereto. 

“Issuer Financing” has the meaning set forth in the recitals hereto. 

“Issuer Initiated Conversion” has the meaning set forth in subsection 9.1. 

  
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 “Issuer Initiated Conversion Date” means, with respect to any Issuer Initiated
Conversion, the date on which the shares of Parent Common Stock subject to the applicable Issuer Initiated Conversion Notice are delivered pursuant to subsection 9.9. 

“Issuer Initiated Conversion Notice” means an irrevocable conversion notice in the form of Exhibit F-1 hereto. 

“Issuer Organizational Documents” means the Issuer LLC Agreement and the other Constituent Documents of Issuer. 

“Issuer LLC Agreement” means that certain Limited Liability Company Agreement of Issuer dated as of January 13, 2015.

 “Issuer Party” means Parent, Issuer and each of Issuer’s Subsidiaries. 

“Issuer Pledge Agreement” means that certain Pledge Agreement to be dated as of the Closing Date among Issuer, Agent and
Collateral Agent, for the benefit of the Secured Parties and in the form attached as Exhibit J-1 hereto. 
 “Last Reported
Sale Price” means, on any Trading Day, the closing sale price per share of Parent Common Stock (or if no closing sale price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average
bid and/or the average ask prices) of the Parent Common Stock on that Trading Day as reported in composite transactions for the principal United States national or regional securities exchange on which the Parent Common Stock is traded. If the
Parent Common Stock is not listed for trading on a United States national or regional securities exchange on the relevant Trading Day, the “Last Reported Sale Price” will be the last quoted bid price per share of Parent Common Stock in the
over-the-counter market on the relevant Trading Day as reported by OTC Markets Group Inc. or similar organization selected by Issuer. If the Parent Common Stock is not so quoted, the “Last Reported Sale Price” will be the average of the
mid-point of the last bid and ask prices per share of Parent Common Stock on the relevant date from a nationally recognized independent investment banking firm selected by Issuer for this purpose. 

“LC Costs” means (a) fees, expenses and interest associated with Working Capital Debt and (b) any reimbursement by
a Project Entity of amounts paid under a letter of credit that is Working Capital Debt for expenditures that if paid by such Project Entity directly would have constituted Operation and Maintenance Expenses. 

“Lien” means any lien, mortgage, deed of trust, deed to secure debt, leasehold mortgage, leasehold deed of trust, leasehold
deed to secure debt, pledge, hypothecation, security interest or other charge or encumbrance of any kind including the lien or retained security title of a conditional vendor and any easement, right of way or other encumbrance on title to real
property. 
 “Liquidated Damages” means any liquidated damages resulting from (a) a delay with respect to the Project
that are required to be paid by the EPC Contractor or any other counterparty to a Material Project Agreement for or on account of any delay or (b) the Project’s performance that are required to be paid by the EPC Contractor or any other
counterparty to a Material Project Agreement for or on account of any diminution to the performance of the Project. 

  
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 “LNG” means liquefied natural gas. 

“LNG Prepayment Obligation” means the requirement under the provisions of the CCH Senior Financing Documents that correspond
to Section 3.10.2 of the CCH Senior Financing Term Sheet to prepay the Debt under the CCH Senior Financing in the event of a breach of the provisions of the CCH Senior Financing Documents that correspond to those set forth in
Section 3.10.1 (LNG SPA Maintenance) of the CCH Senior Financing Term Sheet or as required by the provisions of the CCH Senior Financing Documents that correspond to Section 3.10.2(a)(iii) of the CCH Senior Financing Term Sheet. In the
event that the CCH Senior Financing is repaid in full prior to the Discharge Date, references in this definition to provisions of the CCH Senior Financing Documents shall be deemed to be references to the corresponding provisions, if any, of the
Permitted Senior Debt Documents for the largest principal amount of then-outstanding Permitted Senior Debt of the Project Entities. 

“LNG SPA” means any LNG sale and purchase agreement between CCL and any buyer of LNG. 

“Loan Facility Permitted Payments” means, without duplication as to amounts allowed to be distributed under any other
provision of the Permitted Senior Debt Documents, on each Senior Payment Date, the amount necessary for payment to an Affiliate of CCH to enable it to pay its (or for such Affiliate to satisfy any contractual obligation to distribute to its
beneficial owners to enable them to pay their) income tax liability with respect to income generated by the Project Entities, determined at the highest combined US federal and State of Texas tax rate applicable to an entity taxable as a corporation
in both jurisdictions for the applicable period. 
 “Loans” means the Senior Debt Obligations created under individual
Facility Agreements to be made available by the Facility Lenders. 
 “Management Rights Agreement” means the Management
Rights Agreement to be entered into at Closing between Issuer and the Note Holders party thereto in the form attached as Exhibit D hereto. 

“Management Services Agreements” means the agreements between the Project Entities and the Manager for their respective
Properties. 
 “Manager” means Cheniere LNG Terminals, LLC, a limited liability company organized under the laws of the
state of Delaware, or such other Affiliate of the Project Entities that serves as the manager under the Management Services Agreements. 

“Margin Stock” has the meaning specified in Regulation U. 

“Material Adverse Effect” means a material adverse effect on (a) the business, financial condition or operations of the
Subject Companies and the Project Entities, taken as a whole, (b) the ability of the Note Document Parties to perform their material Note Obligations, (c) the ability of each Note Document Party to pay its Note Obligations when due or
(d) the security interests created by or under the relevant Security Documents including the material impairment of the rights of or benefits or remedies available to the Secured Parties. 

  
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 “Material Debt” means Debt of the Project Entities (other than the CCH
Senior Financing) that is outstanding in an aggregate principal amount (or, in the case of any Debt described in clause (g) of the definition thereof, payments calculated to be equal to an amount) of at least $500,000,000. 

“Material Project Agreements” means: 

(a) the Initial LNG SPAs and any related parent guarantees; 

(b) the EPC Contracts and any related guarantees of the EPC contractor’s obligations under the EPC Contract provided by
the Guarantor (as defined in each EPC Contract); 
 (c) the ConocoPhilips License Agreements; 

(d) the Real Property Documents; 

(e) the Management Services Agreements; 

(f) the O&M Agreements; 

(g) the CCP Pipeline Precedent Agreement; 

(h) the Equity Contribution Agreement; 

(i) the Gas and Power Supply Services Agreement; 

(j) the CMI Export Authorization Letter; and 

(k) any Subsequent Material Project Agreement. 

“Material Subsidiary” means a “significant subsidiary” as defined in Rule 1-02(w) of Regulation S-X under
the Securities Act and the Exchange Act. 
 “Maturity Date” means the earlier of the tenth anniversary of the
Closing Date and the date on which all Note Obligations have become due and payable in full to Note Holders whether upon acceleration or otherwise. 

“Merger Event” has the meaning set forth in subsection 9.11. 

“Moody’s” means Moody’s Investors Service, Inc., or any successor thereto which is a nationally recognized
rating agency in the United States. 
 “Multiemployer Plan” means a “multiemployer plan” as in
Section 3(37) of ERISA to which contributions have been made by any Subject Company or any ERISA Affiliate in the past five years and which is covered by Title IV of ERISA.  

  
 29 

 “Non-FTA Authorization” means the Export Authorization, to be issued by the DOE
to CMI and CCL based on the application filed on August 31, 2012, in FE Docket No. 12-97-LNG, as amended on August 15, 2014 (as approved by DOE/FE Order No. 3538 (2014)), in accordance with the Procedures for Liquefied Natural
Gas Export Decisions published by the DOE on August 15, 2014, to export LNG to nations with which the United States has not entered into free trade agreements providing for national treatment for trade in natural gas. 

“Note Document Party” means Parent, Issuer and CCH Direct Parent. 

“Note Documents” means this Agreement, the Notes, the Security Documents, each Additional Note Document, the Management
Rights Agreement and the EIG Indemnification Agreement. 
 “Note Holder” has the meaning set forth in the preamble hereto.

 “Note Holder Initiated Conversion” has the meaning set forth in subsection 9.5A. 

“Note Holder Initiated Conversion Date” means, with respect to any Note Holder Initiated Conversion, the date on which the
shares of Parent Common Stock subject to the applicable Note Holder Initiated Conversion Notice are delivered pursuant to subsection 9.9. 

“Note Holder Initiated Conversion Notice” means a completed and manually signed conversion notice provided in the form of
Exhibit F-2 hereto, which shall be irrevocable other than as set forth in section 4(a) of the Registration Rights Agreement or in accordance with subsection 9.10. 

“Note Holder Observer” has the meaning set forth in subsection 6.12. 

“Note Obligations” means all Obligations of every nature of Issuer or any other Note Document Party now or hereafter existing
under or arising out of or in connection with this Agreement and the other Note Documents, including all Notes, in each case together with all extensions or renewals thereof, whether for principal, interest (including Base Interest), any Yield
Maintenance Amount, any Fees, any costs, expenses, damages, indemnities, Taxes, payments contemplated under subsection 3.7, or otherwise, whether voluntary or involuntary, direct or indirect, absolute or contingent, liquidated or
unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent
all or any part of such payment is avoided or recovered directly or indirectly from any Note Holder or Agent as a preference, fraudulent transfer, transfer at under value or otherwise (including interest that, but for the filing of a petition in
bankruptcy or insolvency with respect to any Note Document Party, would accrue on such obligations, whether or not a claim is allowed against such Note Document Party for such amounts in the related bankruptcy or insolvency proceeding). 

“Note Purchasers” has the meaning set forth in the preamble hereto. 

“Note Register” has the meaning set forth in subsection 12.1. 

  
 30 

 “Notes” means, collectively, the Initial Notes and any Additional Notes issued
in accordance with this Agreement. 
 “Notice of Event of Default” has the meaning set forth in subsection 12.9Q.

 “O&M Agreements” means the agreements between the Project Entities and the Operator for their respective Properties.

 “Obligation” means, with respect to any Person, any payment, performance or other obligation of such Person of any kind,
including any liability of such Person on any claim, whether or not the right of any creditor to payment in respect of such claim is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, disputed, undisputed, legal, equitable,
secured or unsecured, and whether or not such claim is discharged, stayed or otherwise affected by any proceeding under Bankruptcy Law. 

“OFAC” means the United States Department of the Treasury’s Office of Foreign Assets Control. 

“OFAC Laws” means any laws, regulations, and executive orders relating to the economic sanctions programs administered by
OFAC, including the International Emergency Economic Powers Act, 50 U.S.C. sections 1701 et seq.; the Trading with the Enemy Act, 50 App. U.S.C. sections 1 et seq.; and the Office of Foreign Assets Control, Department of the Treasury
Regulations, 31 C.F.R. Parts 500 et seq. (implementing the economic sanctions programs administered by OFAC). 
 “Offer to
Repay” subsection 3.3B(vi)(a). 
 “Offer to Repay Notice” has the meaning set forth in subsection
3.3B(vi)(a). 
 “Offer Settlement Date” subsection 3.3B(vi)(a). 

“Operating Account” means the account in the name of CCH identified as the “Operating Account” (or comparable
title) in, and established pursuant to, the CCH Senior Financing Documents, or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, any corresponding account established in accordance with the Permitted Senior Debt Documents.

 “Operating Budget” means the annual operating plan and budget setting forth in reasonable detail the projected
requirements for Operation and Maintenance Expenses for the relevant calendar year, established pursuant to the Permitted Senior Debt Documents. 

“Operating Cash Available for Interest” means, with respect to any Fiscal Quarter ending on or after the Commercial Operation
Date, the amount equal to the lesser of (i) the amount of cash interest owed pursuant to subsection 3.2B(i) on the Payment Date on which such Fiscal Quarter ends and (ii): 

 

	 	(a)	 if the Project Entities have not made a positive final investment decision with respect to any Additional Train, the Waterfall Amount, plus an
amount equal to 

  
 31 

	 	
any expenses or Permitted Finance Costs incurred by the Project Entities in connection with or relating to the development, construction or operation of any Additional Train or Additional Trains
(including any related pipelines and facilities or other infrastructure or assets related to such Additional Train or Additional Trains) to the extent payments or transfers in respect of such expenses are made in accordance with clauses
(i) through (vii) of the definition of Waterfall Amount during such Fiscal Quarter; 

  

	 	(b)	if the Project Entities have made a positive final investment decision with respect to one or more Additional Trains, until the Additional Train COD, the Waterfall Amount, plus an amount equal to the sum of
(without duplication), to the extent paid from operating cash flows or Equity Funding received by the Project Entities pursuant to the Equity Contribution Agreement, (v) any expenses or Permitted Finance Costs incurred by the Project Entities
in connection with or relating to the development, construction or operation of such Additional Train or Additional Trains (including any related pipelines and facilities or other infrastructure or assets related to such Additional Train or
Additional Trains) to the extent payments or transfers in respect of such expenses are made in accordance with clauses (i) through (vii) of the definition of Waterfall Amount during such Fiscal Quarter, (w) Operation and Maintenance
Expenses with respect to any Additional Train, (x) an amount equal to the Excess Secured Party Fees for such Fiscal Quarter, (y) an amount equal to the Excess Senior Debt Service for such Fiscal Quarter and (z) an amount equal to the
Excess Senior Reserve Amount for such Fiscal Quarter, minus an amount equal to any revenues from the operation of any Additional Train during such Fiscal Quarter; and 

 

	 	(c)	if the Project Entities have made a positive final investment decision with respect to one or more Additional Trains, from and after the Additional Train COD, the Waterfall Amount. 

“Operation and Maintenance Expenses” means, for any period, computed without duplication, in each case, costs and
expenses of the Project Entities that are contemplated by the then-effective Operating Budget or are incurred in connection with any permitted excess thereunder pursuant to the Permitted Senior Debt Documents including: 

(a) fees and costs of the Manager pursuant to the Management Services Agreements; plus 

(b) amounts payable by the Project Entities under a Material Project Agreement then in effect; plus 

(c) expenses for operating the Project and any Additional Train (including any related pipelines and facilities or other
infrastructure or assets related to such Additional Train or Additional Trains) and maintaining the Project and any such Additional Trains and related pipelines, facilities and other infrastructure and assets in good repair and operating condition
payable during such period, including the ordinary course fees and costs of the Operator payable pursuant to the O&M Agreements and fees and costs payable pursuant to the Gas and Power Supply Services Agreement; plus 

  
 32 

 (d) LC Costs; plus 

(e) insurance costs payable during such period; plus 

(f) applicable sales and excise taxes (if any) payable or reimbursable by the Project Entities during such period; plus

 (g) franchise taxes payable by the Project Entities during such period; plus 

(h) property taxes payable by the Project Entities during such period; plus 

(i) any other direct taxes (if any) payable by the Project Entities to the taxing authority (other than any taxes imposed on or
measured by income or receipts) during such period; plus 
 (j) costs and fees attendant to the obtaining and
maintaining in effect the Governmental Authorizations applicable to the Project and any Additional Train (including any related pipelines and facilities or other infrastructure or assets related to such Additional Train or Additional Trains) and
payable during such period; plus 
 (k) expenses for spares and other capital goods inventory, capital expenses
related to the construction and start-up of the Project and any Additional Train (including any related pipelines and facilities or other infrastructure or assets related to such Additional Train or Additional Trains), maintenance capital
expenditures, including those required to maintain the capacity of the Project Entities’ Properties; plus 
 (l)
legal, accounting and other professional fees of the Project Entities payable during such period; plus 
 (m) Required
Capital Expenditures; plus 
 (n) the cost of purchase, storage and transportation of gas and electricity; plus

 (o) all other cash expenses payable by the Project Entities in the ordinary course of business. 

Operation and Maintenance Expenses shall exclude, to the extent included above: (i) transfers from any Account into any other Account
(other than the Operating Account) during such period, (ii) payments of any kind with respect to Restricted Payments (as that term is defined in the CCH Senior Financing Documents, or, if the CCH Senior Financing is repaid in full prior to
Discharge Date, the corresponding definition in the Permitted Senior Debt Documents) permitted under the CCH Senior Financing during such period, (iii) depreciation for such period, and (iv) except as provided in clauses (j), (k) and
(m) above, any capital expenditure. 

  
 33 

 To the extent amounts are advanced in accordance with the terms of the applicable Senior Debt
Instrument, secured Permitted Hedging Instrument or other indebtedness permitted under the Permitted Senior Debt Documents for the payment of such Operation and Maintenance Expenses, the obligation to repay such advances shall itself constitute an
Operation and Maintenance Expense. 
 “Operator” means Cheniere LNG O&M Services, LLC, a limited liability company
organized under the laws of the state of Delaware. 
 “Other Connection Taxes” means, with respect to any recipient of any
payment to be made by or on account of any Obligation under any Note Document, Taxes imposed as a result of a present or former connection between such recipient and the jurisdiction imposing such Tax (other than connections arising from such
recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Note Document, or sold
or assigned an interest in any Note or Note Document). 
 “Other Taxes” means any and all current or future stamp,
documentary, court, intangible, recording, filing or other similar Taxes or any other property Taxes arising from any payment made under any Note Document or from the execution, delivery, performance, registration or enforcement of, from the receipt
or perfection of a security interest under, or otherwise with respect to, any Note Document or the transactions contemplated thereby. 

“Outside Date” has the meaning set forth in subsection 11.1C. 

“Ownership Limit Excess Shares” means, with respect to any Issuer Initiated Conversion, the number of shares of Parent Common
Stock deliverable pursuant to subsection 9.2A (prior to giving effect to any reduction related to the Aggregate Share Cap or Section 16 Percentage) to the converting EIG Note Holder in respect of such Issuer Initiated Conversion in
excess of the number of shares of Parent Common Stock that can be delivered to the converting EIG Note Holder in respect of such Issuer Initiated Conversion without causing the Section 16 Percentage for such EIG Note Holder to exceed 9.99%.

 “Ownership Limit Non-Converted Notes” means, with respect to any Issuer Initiated Conversion, the principal amount of
Notes equal to the Ownership Limit Excess Shares with respect to such Issuer Initiated Conversion multiplied by the applicable Conversion Price with respect to such Issuer Initiated Conversion, rounded up to the nearest whole Dollar. 

“Parent” has the meaning set forth in the preamble. 

“Parent Common Stock” means the shares of common stock, par value $0.003 per share, of Parent authorized at the date hereof,
or shares of any class or classes of common stock of Parent resulting from any reclassification or reclassifications thereof; provided, however, that if at any time there shall be more than one such resulting class, the shares so
issuable on conversion of Notes shall include shares of all such classes, and the shares of each such class then so issuable shall be substantially in the proportion which the total number of shares of such class resulting from all such
reclassifications bears to the total number of shares of all such classes resulting from all such reclassifications. 

  
 34 

 “Parent Pledge Agreement” means that certain Pledge Agreement to be dated as of
the Closing Date among Parent, Agent and Collateral Agent, for the benefit of the Secured Parties and in the form attached as Exhibit J-2 hereto. 

“Participant Register” has the meaning set forth in subsection 12.1A. 

“Patriot Act” has the meaning set forth in the definition of Anti-Terrorism and Money Laundering Laws. 

“Payment Date” means (i) any Quarterly Payment Date and (ii) the date on which all principal on the Notes then
outstanding is to be repaid, including the Maturity Date. 
 “PBGC” means the Pension Benefit Guaranty Corporation
established pursuant to Subtitle A of Title IV of ERISA (or any successor). 
 “PDE Senior Debt” means additional
senior debt or agreements with Persons who commit to provide additional senior debt, incurred or entered into by CCH, in order to finance permitted development expenditures, in each case as permitted under the Permitted Senior Debt Documents. 

“Permitted Business” means (a) the ownership, development, construction, financing, operation, maintenance, improvement,
modification, expansion and debottlenecking of (i) the Terminal Facility and the Pipeline, as such facilities may be improved, replaced, modified, changed or expanded, (ii) one or more Additional Trains, and one or more related pipelines
and (iii) facilities, infrastructure and other Properties related to the foregoing (including regasification facilities) and (b) activities incidental to the foregoing. 

“Permitted Debt” means any Debt permitted to be incurred under subsection 7.2. 

“Permitted Finance Costs” means, for any period, the sum of all amounts of principal, interest, fees and other amounts
payable in relation to indebtedness (other than Senior Debt and other than LC Costs and other amounts payable in relation to indebtedness that constitute Operation and Maintenance Expenses) permitted by the Permitted Senior Debt Documents
plus all amounts payable during such period pursuant to Permitted Hedging Instruments that are not secured, plus any amounts required to be deposited in margin accounts pursuant to Permitted Hedging Instruments; provided that
Permitted Finance Costs will not include funds categorized as Operation and Maintenance Expenses under the last sentence of the definition thereof. 

“Permitted Hedging Instrument” means a Hedging Instrument entered into by a Project Entity in the ordinary course of business
and that (i) is with a Hedging Bank or a Gas Hedge Provider, (ii) if secured, is of the type referred to in clause (a) or (b) of the definition of Hedging Instrument and (iii) is entered for non-speculative purposes and is
on arm’s-length terms; provided that (i) if such Hedging Instrument is a gas hedging contract, it is for a period not to exceed 90 days and the aggregate quantum under all then outstanding gas hedging contracts does not exceed,
together with all other gas hedges in the aggregate, 20 Bcf of natural gas and (ii) if 

  
 35 

 
such Hedging Instrument is a power hedging contract, the aggregate quantum under such Hedging Instrument does not exceed 100 megawatts and each such Hedging Instrument is for a period not to
exceed one year. “Permitted Hedging Instrument” includes any “Permitted Senior Debt Hedging Instrument.” 

“Permitted Hedging Liabilities” means all present and future liabilities (actual or contingent) payable or owing by a
Project Entity under Permitted Hedging Instruments (including the obligation to pay a Hedging Termination Amount) together with: 

(a) any novation, deferral or extension of any of those liabilities; 

(b) any claim for damages or restitution arising out of, by reference to or in connection with any of those liabilities; 

(c) any claim flowing from any recovery by a Project Entity or a receiver or liquidator thereof or any other Person of a
payment or discharge in respect of any of those liabilities on grounds of preference or otherwise; and 
 (d) any amounts
(such as post-insolvency interest) which could be included in any of the above but for any discharge, non-provability, unenforceability or non-allowability of the same in any insolvency or other proceedings. 

“Permitted Liens” means (i) Liens granted to Collateral Agent for the benefit of Secured Parties pursuant to the
Security Documents and (ii) each of the following: 
 (a) Liens for Taxes, assessments and governmental charges
or levies to the extent not required to be paid under subsection 6.2; 
 (b) pledges or deposits in the ordinary
course of business to secure obligations under workers’ compensation laws or similar legislation or to secure public or statutory obligations; 

(c) Liens securing judgments (or the payment of money owing in respect of such judgments) not constituting a Default or Event
of Default under subsection 10.1F or securing appeal or other surety bonds related to such judgments so long as an appeal or proceeding for review is being prosecuted in good faith and for the payment of which adequate reserves, bonds or
other cash equivalent security have been provided or are fully covered by insurance (other than any customary deductible); 

(d) Liens arising by virtue of any statutory or common law provision relating to banker’s liens, rights of set-off or
similar rights; and 
 (e) legal or equitable encumbrances (other than any attachment prior to judgment, judgment lien or
attachment in aid of execution on a judgment) deemed to exist by reason of the existence of any pending litigation or other legal proceeding if the same is effectively stayed or the claims secured thereby are being contested in good faith and by
appropriate proceedings and an appropriate reserve has been established in respect thereof in accordance with GAAP. 

  
 36 

 “Permitted Payments” means Loan Facility Permitted Payments and Indenture
Permitted Payments. 
 “Permitted Refinancing Indebtedness” means any Replacement Senior Debt. 

“Permitted Senior Debt” means, collectively, the Debt under the CCH Senior Financing, any Permitted Refinancing Indebtedness,
any Expansion Senior Debt and any other Debt (including Senior Debt) incurred by the Project Entities in accordance with the terms of the CCH Senior Financing Documents (if the CCH Senior Financing is outstanding at the time such other Debt is
incurred), the Permitted Refinancing Indebtedness (if any Permitted Refinancing Indebtedness is outstanding at the time such other Debt is incurred) and any other Permitted Senior Debt (if any other Permitted Senior Debt is outstanding at the time
such other Debt is incurred). 
 “Permitted Senior Debt Documents” means any document, agreement or instrument evidencing
any Permitted Senior Debt or any Lien or security interest granted in connection therewith, including the Common Terms Agreement. 

“Permitted Senior Debt Hedging Instrument” means a Permitted Hedging Instrument that is secured pursuant to sub-clause
(ii) of the definition thereof. 
 “Permitted Senior Debt Hedging Liabilities” means all present and future
liabilities (actual or contingent) payable or owing by a Project Entity under Permitted Senior Debt Hedging Instruments (including the obligation to pay a Senior Debt Hedging Termination Amount) together with: 

(a) any novation, deferral or extension of any of those liabilities; 

(b) any claim for damages or restitution arising out of, by reference to or in connection with any of those liabilities; 

(c) any claim flowing from any recovery by a Project Entity or a receiver or liquidator thereof or any other Person of a payment or discharge
in respect of any of those liabilities on grounds of preference or otherwise; and 
 (d) any amounts (such as post-insolvency interest)
which would be included in any of the above but for any discharge, non-provability, unenforceability or non-allowability of the same in any insolvency or other proceedings. 

“Permitted SPA Prepayment Waiver” means that to the extent any LNG Prepayment Obligation is waived by the lenders under the
Permitted Senior Debt Documents, (i) the event giving rise to such waived LNG Prepayment Obligation has been remedied on or before the applicable SPA Prepayment Deadline or (ii) the SPA DSCR Prepayment Condition is satisfied. In the event
that the CCH Senior Financing is repaid in full prior to the Discharge Date, references in this definition to the CCH Senior Financing shall be deemed to be references to the Permitted Senior Debt with the largest principal amount of then
outstanding. 

  
 37 

 “Permitted Transferee” means any Transferee to which a Note is sold, assigned or
otherwise transferred in accordance with the second paragraph of subsection 12.1A. 
 “Person” means an individual,
partnership, limited partnership, corporation (including a business trust), limited liability company, joint stock company, trust, unincorporated association, joint venture or other entity or a Governmental Authority. 

“Piggyback Notice” has the meaning set forth in subsection 9.10. 

“Pipeline” means the bi-directional gas pipeline and related compressor stations, meter stations and required interconnects,
originating at the Terminal Facility and terminating north of the City of Sinton, Texas, and related facilities. 
 “Plan”
means any “employee benefit plan” as defined in Section 3(3) of ERISA, including any “employee welfare benefit plan” (as defined in Section 3(1) of ERISA) and/or any “employee pension benefit plan” (as defined
in Section 3(2) of ERISA), that is or was maintained or contributed to by any Subject Company or any ERISA Affiliate. 

“Pledge Agreements” means the Parent Pledge Agreement and the Issuer Pledge Agreement. 

“Preferred Interests,” as applied to the capital stock of (or other ownership or profit interests, including partnership or
member interests, in) any Person, means capital stock of (or other ownership or profit interests, including partnership or member interests, in) such Person of any class or classes (however designated) that rank prior, as to the payment of dividends
or distributions or as to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding up of such Person, to the common capital stock of (or other common ownership or profit interests, including partnership or
member interests, in) such Person. 
 “Prescribed Forms” means such duly executed Internal Revenue Service Form W-9,
W-8ECI, W-8BEN, W-8BEN-E, or W-8IMY, Tax Compliance Certificate substantially in the form of Exhibit B, and/or statement required under the Code in such number of copies which may be reasonably requested by Agent and Issuer and which is not
prohibited by any Requirements of Law and that permits payments to be made hereunder for the account of such Note Holder free of or at a reduced rate of such deduction or withholding of U.S. income or similar Taxes. 

“Priority Lien” means Collateral Agent’s Lien on the Collateral, which Lien is prior to all other Liens. 

“Project” means the ownership, development, construction, operation and maintenance of, collectively, the Terminal Facility
and the Pipeline, as such facilities may be improved, replaced, modified, changed or expanded. 
 “Project Completion Date”
means the date upon which all of the conditions set forth in the provisions of the CCH Senior Financing Documents corresponding to Section 3.15 

  
 38 

 
(Conditions to Completion) of the CCH Senior Financing Term Sheet have been either satisfied, or waived, in each case, in accordance with the CCH Senior Financing Documents. In the event that the
CCH Senior Financing is repaid in full prior to the Discharge Date, references in this definition to the provisions of the CCH Senior Financing Documents shall be deemed to be references to the corresponding provisions, if any, of the Permitted
Senior Debt Documents for the largest principal amount of then-outstanding Permitted Senior Debt of the Project Entities so long as such definition relates only to Train One, Train Two and Train Three, and in the event that the Permitted Senior Debt
Documents for the largest principal amount of then-outstanding Permitted Senior Debt of the Project Entities do not contain a definition of “Project Completion,” “Project Completion Date” or term of similar effect or contains a
definition of “Project Completion,” “Project Completion Date” or term of similar effect that relates to an Additional Train, then Project Completion Date shall be deemed to mean the Commercial Operation Date. 

“Project Costs” means all costs of acquiring, leasing, designing, engineering, developing, permitting, insuring,
financing (including closing costs, other fees and expenses, commissions and discounts payable to any purchaser or underwriter of Senior Notes (to the extent such costs are paid from the proceeds of such Senior Notes), insurance costs (including
premiums) and interest and interest rate hedge expenses and Secured Party Fees ), constructing, installing, commissioning, testing and starting-up (including costs relating to all equipment, materials, spare parts and labor for) the Project and all
other costs incurred with respect to the Project in accordance with the construction schedule and budget schedule attached to the Permitted Senior Debt Documents, including working capital prior to the end of the Term Loan Availability Period, gas
purchase, transport and storage costs and pre-Project Completion Date Operation and Maintenance Expenses. Project Costs will exclude any Operation and Maintenance Expenses (other than the portion thereof that is Required Capital Expenditure) for any
Train of the Project if the LNG SPA related to such Train has achieved Date of First Commercial Delivery under such LNG SPA. 
 On any date on which
a determination is being made whether specific sources of funding available to the Project are sufficient for the Project to achieve the Project Completion Date by the Date Certain, the Project Costs against which the applicable sources of funding
are measured to make this determination will be the remaining Project Costs required to be spent in order to achieve the Project Completion Date as determined as of such determination date based on the then-current Base Case Forecast, including any
netting contemplated in the Base Case Forecast between costs and revenues related to commissioning. 
 “Project Entity”
means CCH, CCL and CCP and each of their respective Subsidiaries. 
 “Projected Holdco DSCR” means, for the applicable
period, the ratio of: 
 (a) the Cash Flow Available for Debt Service projected for such period, calculated solely with
respect to the contract sales price under Qualifying LNG SPAs then in effect; to 
 (b) (i) Senior Debt Obligations
projected to be paid in such period (other than (1) pursuant to voluntary prepayments or mandatory prepayments, (2) Senior Debt due at maturity, (3) Working Capital Debt, (4) LC Costs, (5) interest in respect of Senior Debt

  
 39 

 
or net amounts under any Permitted Hedging Instrument in respect of interest rates, in each case projected to be paid prior to the end of the Availability Period and (6) Hedging Termination
Amounts) plus (ii) the sum of all scheduled interest payments in respect of the Notes projected to be paid during such period (assuming, for purposes of this calculation, that all interest on the Notes will be paid in cash). 

“Projected Principal Amount” means the Senior Debt projected to be incurred by the Project Entities as set forth in
the Base Case Forecast, as in effect as of the Closing Date (which for the avoidance of doubt, does not include Senior Debt unrelated to Train One, Train Two or Train Three).  

“Property” means any right or interest in or to any asset or property of any kind whatsoever (including Equity
Interests), whether real, personal or mixed and whether tangible or intangible. 
 “Prudent Industry
Practice” means, at a particular time, any of the practices, methods, standards and procedures (including those engaged in or approved by a material portion of the LNG industry) that, at that time, in the exercise of reasonable judgment in
light of the facts known at the time a decision was made, could reasonably have been expected to accomplish the desired result consistent with good business practices, including due consideration of the Project’s reliability, environmental
compliance, economy, safety and expedition, and which practices, methods, standards and acts generally conform to International LNG Terminal Standards and International LNG Vessel Standards. 

“Qualified Institutional Buyer” has the meaning set forth in subsection 12.10K. 

“Qualifying LNG SPA” means each of the Initial LNG SPA’s and any other LNG SPA that is treated as a
“Qualifying LNG SPA” under the Permitted Senior Debt Documents. 
 “Qualifying Term” means
(a) with respect to the Initial LNG SPA’s, a term at least longer than the expected amortization term of the Initial Senior Debt pursuant to the Base Case Forecast, (b) with respect to any LNG SPA replacing an LNG SPA that was
previously a Qualifying LNG SPA, a term at least as long as the remaining term of the Initial LNG SPA it is replacing and (c) with respect to any other Qualifying LNG SPA, the term of such LNG SPA used in the Base Case Forecast when determining
the quantum of Senior Debt that could be incurred based on the revenues projected to be generated under such LNG SPA. 

“Quarterly Payment Dates” means January 15, April 15, July 15 and October 15 of each
year, commencing (a) with respect to the Initial Notes (i) if the Closing Date occurs on any such date, the first such date immediately following the Closing Date, and (ii) in all other cases, the second such date immediately
following the Closing Date and (b) with respect to any Additional Notes, the first such date immediately following the issuance of such Additional Notes. 

“Real Property Documents” are the agreements relating to the real property set forth in a schedule, annex or exhibit
to the Common Terms Agreement. 

  
 40 

 “Redeemable” means, with respect to any Equity Interest, any such Equity
Interest that (a) the issuer thereof has undertaken to redeem at a fixed or determinable date or dates, whether by operation of a sinking fund or otherwise, or upon the occurrence of a condition not solely within the control of the issuer or
(b) is redeemable at the option of the holder. 
 “Reference Property” has the meaning set forth in subsection
9.11. 
 “Registration Rights Agreement” has the meaning set forth in subsection 4.1N. 

“Regulation U” means Regulation U of the Board, as in effect from time to time. 

“Regulation X” means Regulation X of the Board, as in effect from time to time. 

“Release” means, with respect to any Hazardous Material, any release, spill, emission, leaking, pouring, emptying, escaping,
dumping, pumping, injection, deposit, disposal, discharge, dispersal, leaching or migration of such Hazardous Material into the environment, including the movement of such Hazardous Material through ambient air, soil, surface water, ground water,
wetlands, land or subsurface strata. 
 “Replacement Senior Debt” means additional senior debt or agreements with Persons
who commit to provide additional senior debt, incurred or entered into by CCH, in order to prepay or repay Senior Debt and/or replace all or part of the Facility Debt Commitments under one or more Loans, in each case as permitted under the Permitted
Senior Debt Documents. 
 “Repurchased Non-Converted Notes” has the meaning set forth in subsection 9.4B. 

“Repurchase Notice” has the meaning set forth in subsection 9.4B. 

“Required Capital Expenditures” means capital expenditures required to meet the requirements of any applicable laws and
regulations, Governmental Authorizations (or interpretations thereof), or insurance policies, Industry Standards, and Prudent Industry Practice with which the Project Entities are obligated to comply under any Material Project Agreement and any
other material agreements of the Project Entities relating to the Project, including those relating to the environment. 
 “Required
Export Authorization” means, with respect to a Qualifying LNG SPA at any time, (a) the Non-FTA Authorization and (b) the FTA Authorization to the extent that, (i) at such time, the volumes permitted to be exported under the
FTA Authorization or the Non-FTA Authorization, as the case may be, are required in order to enable the sale of such Qualifying LNG SPA’s share of the then-applicable Base Committed Quantity of LNG in accordance with the terms of such
Qualifying LNG SPA and (ii) an objection has not been received in respect of the identification of such Export Authorization as a “Required Export Authorization” pursuant to the Permitted Senior Debt Documents. For the avoidance of
doubt, the Non-FTA Authorization is initially a Required Export Authorization for each of the Initial LNG SPAs in effect on the closing date of the Common Terms Agreement. 

“Required Note Holders” means Note Holders holding in the aggregate 50.1% or more of the principal amount of the Notes then
outstanding; provided that prior to the Closing, the Required Note Holders shall refer to Note Purchasers that have agreed to purchase, in the aggregate, $750,000,000 or more in principal amount of the Notes. 

  
 41 

 “Requirements of Law” means, as to any Person any law, treaty, rule or
regulation or determination of an arbitrator or a court or other Governmental Authority, including any requirement under any Governmental Authorization, in each case applicable to or binding upon such Person or any of its Property or to which such
Person or any of its Property is subject. 
 “Reservations” means the principle that equitable remedies are
remedies which may be granted or refused at the discretion of the court, the limitation of enforcement by laws relating to bankruptcy, insolvency, liquidation, re-organization, court schemes, moratorium, administration and other laws generally
affecting the rights of creditors, the time barring of claims under any legislation relating to limitation of claims, the possibility that an undertaking to assume liability for or to indemnify a Person against non-payment of stamp duty may be void,
defenses of set-off or counterclaim and similar principles, in each case both under New York law and the laws of other applicable jurisdictions. 

“Reserve Amount” means as of any date on and after the Project Completion Date, an amount necessary to
pay Senior Debt Obligations projected to be due and payable in the next two (in the case of quarterly Senior Payment Dates) or one (in the case of semi-annual Senior Payment Dates) Senior Payment Dates (which shall, if not already included, include
the Final Maturity Date under any Senior Debt) (assuming that no event of default under the Permitted Senior Debt Documents will occur during such period) taking into account, with respect to interest, the amount of interest that would accrue on the
aggregate principal amount of Senior Debt outstanding for the next six months and only after giving effect to any Permitted Hedging Instruments in respect of interest rate hedges then in effect; provided that (a) the Senior Debt
Obligations projected to be due and payable for purposes of this calculation shall not include (i) Working Capital Debt; (ii) any voluntary or mandatory prepayment; (iii) commitment fees, front end fees and letter of credit fees;
(iv) Hedging Termination Amounts and (b) for purposes of the calculation of the scheduled principal payments of the Senior Debt, any final balloon payment of Senior Debt shall not be taken into account and instead only the equivalent of
the principal payment on the immediately preceding Senior Payment Date prior to such balloon payment shall be taken into account.  

“Responsible Officer” means, as to any Person, its president, chief executive officer, chief financial officer, any
vice president, treasurer or secretary, any managing general partner or manager (or any of the preceding with regard to such Person’s managing general partner or manager) or authorized representative. No Person shall be deemed to be a
Responsible Officer unless named as such on a certificate of incumbency of such Person (in form and substance reasonably satisfactory to Agent) delivered to Agent on or after the Closing Date. 

“Restricted Payment” means, with respect to any Person (a) any dividend or other distribution, direct or indirect, (in
cash, property of such Person, securities, obligations or other property) on, or other dividends or distributions on account of, or the setting apart of money for a sinking or other analogous fund for, or the purchase, redemption, retirement or
other acquisition by such Person of any shares or any portion of any membership interest of such Person; and (b) all payments (in cash, property of such Person, securities, obligations or other property) of

  
 42 

 
principal of, interest on and other amounts with respect to, or other payments on account of, or the setting apart of money for a sinking or other analogous fund for, or the purchase, redemption,
retirement, defeasance or other acquisition by such Person of, any indebtedness for borrowed money owed to such Person’s stockholders, partners or members (or the equivalent Person thereof) by the declaration or payment of any dividends, or
(c) the return of capital to such Person’s stockholders, partners or members (or the equivalent Persons thereof) as such; provided that no payment by Issuer to any Note Holder in respect of such Note Holder’s Notes shall be a
Restricted Payment. 
 “Revenue Account” means the account in the name of CCH identified as the “Revenue Account”
(or comparable title) in, and established pursuant to, the CCH Senior Financing Documents, or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, any corresponding account established in accordance with the Permitted Senior
Debt Documents. 
 “Sanctioned Countries” has the meaning set forth in subsection 12.10L. 

“Sanctions Laws” means (i) the economic sanctions laws of the United States, including the International Emergency
Economic Powers Act, 50 U.S.C. §§1701, et seq.; the Trading with the Enemy Act, 50 App. U.S.C. §§1, et seq.; the Iran Sanctions Act of 1996 (50 U.S.C. §1701 note); the Comprehensive Iran Sanctions, Accountability, and
Divestment Act of 2010 (PL 111-195); the National Defense Authorization Act for Fiscal Year 2012 (PL-112-81); the National Defense Authorization Act for Fiscal Year 2013 (including the Iran Freedom and Counter-Proliferation Act of 2012 (PL
112-239)); the Iran Threat Reduction and Syria Human Rights Act of 2012 (PL 112-158); the Cuban Liberty and Democratic Solidarity Act (Libertad Act), 22 U.S.C. §§6021, et seq.; and all regulations administered by OFAC, codified at 31
C.F.R. Part 500, et seq., and (ii) any applicable economic sanctions laws of any jurisdiction other than the United States or other relevant sanctions authority applicable to the applicable Note Purchaser. 

“S&P” means Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. or any successor thereto which
is a nationally recognized rating agency in the United States. 
 “Scheduled Trading Day” means a day that is scheduled to
be a Trading Day on the principal U.S. national or regional securities exchange or market on which the Parent Common Stock is listed or admitted for trading. If the Parent Common Stock is not listed or admitted for trading, “Scheduled Trading
Day” means a Business Day. 
 “Section 16 Percentage” means, for any day, the fraction, expressed as a percentage,
(A) the numerator of which is the number of shares of Parent Common Stock that an EIG Note Holder and each person subject to aggregation of shares of Parent Common Stock with such EIG Note Holder under Section 13 or Section 16 of the
Exchange Act and rules promulgated thereunder directly or indirectly beneficially own (as defined under Section 13 or Section 16 of the Exchange Act and the rules promulgated thereunder) and (B) the denominator of which is the number
of shares of Parent Common Stock outstanding. 
 “Secured Parties” means, collectively, Agent, Collateral Agent and Note
Holders. 

  
 43 

 “Secured Party Fees” means any fees, costs, indemnities, charges, disbursements,
liabilities and expenses (including reasonably incurred legal fees and expenses) and all other amounts payable to the Security Trustee, the Intercreditor Agent, the Indenture Trustee or the Account Bank, as applicable, or any of their respective
agents and to any CCH Senior Creditor Group Representative. 
 “Securities Act” means the Securities Act of 1933. 

“Securities Intermediary” means a third party bank or other financial institution in which Issuer maintains a securities
account (as such term is defined in the Uniform Commercial Code) reasonably satisfactory to Agent, together with its successors and permitted assigns, provided that The Bank of New York Mellon and any Affiliates thereof shall be deemed to be
reasonably satisfactory to Agent. 
 “Senior Debt Commitments” means the aggregate principal amount any CCH Senior Creditor
is committed to disburse to CCH under any Senior Debt Instrument. 
 “Security Documents” means the Pledge Agreements, each
Account Control Agreement and all other instruments or documents, including financing statements, delivered by any Note Document Party after the Closing Date pursuant to this Agreement or any other Note Document in order to grant to the Collateral
Agent, on behalf of the Secured Parties, a Lien on any property of such Note Document Party as security for the Note Obligations. 

“Security Trustee” means the trustee named under the Common Security and Account Agreement (or the corresponding Permitted
Senior Debt Document) as security trustee for the secured parties under the CCH Senior Financing (or other Permitted Senior Debt). 

“Senior Debt” means the Initial Senior Debt, Additional Senior Debt permitted under the Permitted Senior Debt Documents
(including such as may be incurred under any Senior Notes, or any other Senior Debt Instrument) and debt incurred under the Permitted Senior Debt Hedging Instruments, in each case benefiting from the Senior Security Interests created under and
pursuant to the Common Security and Account Agreement (or the corresponding Permitted Senior Debt Document) and incurred from time to time as permitted by the Permitted Senior Debt Documents. 

“Senior Debt Instrument” means 

(a) each Facility Agreement, including with respect to each Facility Agreement, the Common Terms Agreement; 

(b) any Indenture and any Senior Notes issued pursuant to such Indenture; and 

(c) any credit agreement, indenture, trust deed, note or other instrument pursuant to which CCH incurs permitted Additional
Senior Debt from time to time. 

  
 44 

 For the avoidance of doubt, the term “Senior Debt Instrument” shall not include any Permitted
Hedging Instrument (including, for the avoidance of doubt, any Permitted Senior Debt Hedging Instrument). 
 “Senior Debt
Obligations” means CCH’s obligations under the Permitted Senior Debt Documents to pay: 
 (a) all principal, interest and
premiums on the disbursed Senior Debt; 
 (b) all commissions, fees, reimbursements, indemnities, prepayment premiums and other amounts
payable to CCH Senior Creditors under any Senior Debt Instrument; 
 (c) all Permitted Senior Debt Hedging Liabilities under Permitted
Hedging Instruments that benefit from the Senior Security Interests; and 
 (d) all Secured Party Fees. 

“Senior Debt Reserve Shortfall” means, as of any date following the Project Completion Date, the excess, if any, of the
Reserve Amount over the balance in the Senior Debt Service Reserve Account (including Acceptable Debt Service Reserve LCs earmarked to such account), in each case as of such date. 

“Senior Debt Service Reserve Account” means the account in the name of CCH identified as the “Senior Debt Service
Reserve Account” (or comparable title) in, and established pursuant to, the CCH Senior Financing Documents, or, if the CCH Senior Financing is repaid in full prior to the Discharge Date, any corresponding account established in accordance with
the Permitted Senior Debt Documents. 
 “Senior Noteholder” means any holder of Senior Notes (or lenders in the case of a
“term loan B” financing that CCH has elected to be treated as an Indenture). 
 “Senior Notes” means the notes to
be issued (or facility agreement to be entered into in the case of a “term loan B” financing that CCH has elected to be treated as an Indenture) pursuant to any Indenture. 

“Senior Payment Dates” means the payment dates for any Permitted Senior Debt under the Permitted Senior Debt Documents. 

“Senior Security Interests” means the Liens created or purported to be created by or pursuant to the Permitted Senior Debt
Documents. 
 “Solvent” means, with respect to any Person on a particular date, that on such date (a) the fair value
of the property of such Person, is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the amount that will be required
to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person is able to pay its debts and other liabilities, contingent obligations, and other commitments as they become absolute and matured in
the normal course of business and (d) such Person is not engaged in business or a 

  
 45 

 
transaction, and is not about to engage in business or a transaction, for which such Person’s assets would constitute unreasonably small capital after giving due consideration to current and
anticipated future business conduct. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected
to become an actual or matured liability. 
 “SPA DSCR Prepayment Condition” means that the fixed projected debt service
coverage ratio calculated in accordance with the methodology used in the preparation of the Base Case Forecast as of the date of the Common Terms Agreement, without giving effect to any amendment or change to such methodology after the date of the
Common Terms Agreement, and the provisions of the CCH Senior Financing Documents corresponding to Section 3.10.2(b)(ii) of the CCH Senior Financing Term Sheet (giving effect to the loss of the Qualifying LNG SPA or impairment of the Required
Export Authorization that gave rise to the applicable LNG Prepayment Obligation) is at least 1.40:1.00 starting from the first Senior Payment Date to occur after the SPA Prepayment Deadline, and for each calendar year thereafter through the
Qualifying Term of the Qualifying LNG SPAs then in effect. In the event that the CCH Senior Financing is repaid in full prior to the Discharge Date, references in this definition to sections of the CCH Senior Financing Term Sheet or the provisions
of the CCH Senior Financing Documents shall be deemed to be references to the corresponding provisions, if any, of the Permitted Senior Debt Documents for the largest principal amount of then-outstanding Permitted Senior Debt of the Project
Entities. 
 “SPA Prepayment Deadline” means (i) in the case of any LNG Prepayment Obligation that arises prior to the
Project Completion Date, the date that is 180 days after the Project Completion Date and (ii) in the case of any LNG Prepayment Obligation that arises after the Project Completion Date, the date that is 180 days following the end of the
applicable cure period with respect to the event that gave rise to such LNG Prepayment Obligation. 
 “Spin-Off” has the
meaning set forth in subsection 9.8B(iv). 
 “Subject Claims” has the meaning set forth in subsection 12.2C.

 “Subject Company” means Issuer and CCH Direct Parent. 

“Subordinated Debt” means any Debt of any Project Entity that ranks subordinate in right of payment to the Senior Debt
Obligations, on the basis set forth in a subordination agreement in the form set forth in a schedule to the Permitted Senior Debt Documents. 

“Subsequent Material Project Agreement” means any agreement that is treated as a “Subsequent Material Project
Agreement” under the Permitted Senior Debt Documents. 
 “Subsidiary” of any Person means any corporation,
partnership, joint venture, limited liability company, trust, estate or other entity of which (or in which) 50% or more of the (a) Voting Interests, (b) the interest in the capital or profits of such partnership, joint venture or limited
liability company or (c) the beneficial interest in such trust or estate or other entity, in each case, is at the time directly or indirectly owned or controlled by such Person, by such Person and one or more of its other Subsidiaries or by one
or more of such Person’s other Subsidiaries. 

  
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 “Supplemental Collateral Agent” has the meaning set forth in subsection
12.9I. 
 “Taxes” means any and all present or future taxes, imposts, assessments, duties, deductions, withholdings
(including backup withholding), fees, levies and similar charges imposed by any Governmental Authority, together with any and all interest, penalties, fines and additions to tax imposed with respect thereto whether or not disputed. 

“Term Lender” means the lenders that provide Term Loans under the Term Loan Facility Agreement. 

“Term Loans” means the Senior Debt Obligations created under the Term Loan Facility Agreement. 

“Term Loan Availability Period” means the period during which Term Loans are made available to CCH under the Permitted Senior
Debt Documents. 
 “Term Loan Facility Agent” means the facility agent under the Term Loan Facility Agreement. 

“Term Loan Facility Agreement” is the Term Loan Facility Agreement entered into on or about the date of the Term Loans
contemplated by the Permitted Senior Debt Documents. 
 “Terminal Facility” means the facilities in San Patricio County and
Nueces County in the vicinity of Portland, Texas, on the La Quinta Channel in the Corpus Christi Bay, which facilities are to include gas pretreatment and processing facilities, a liquefaction facility comprised of three Trains, three LNG storage
tanks, two completed marine berths and certain onsite and offsite utilities and supporting infrastructure. 
 “Trading Day”
means a day during which (i) trading in securities generally occurs on the principal United States national or regional securities exchange on which the Parent Common Stock is then listed or admitted for trading, and (ii) a Last Reported
Sale Price for the Parent Common Stock is available on such securities exchange or market. If the Parent Common Stock is not so listed or traded, “Trading Day” means a Business Day. 

“Train” means any of Train One, Train Two or Train Three. 

“Train One” means LNG Train 1 (as defined in the EPC Contract (T1/T2)). 

“Train Three” means the LNG Train 3 (as defined in the EPC Contract (T3)). 

“Train Two” means LNG Train 2 (as defined in the EPC Contract (T1/T2)). 

“Transaction” means, collectively, (a) the execution and delivery of the Note Documents and the performance by the Note
Document Parties of their obligations under the Note Documents, (b) the borrowings hereunder and the use of proceeds thereof, (c) the granting 

  
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of the Liens pursuant to the Security Documents and (d) the payment of all fees and expenses to be paid by the Note Document Parties under the Note Documents in connection with the
foregoing. 
 “Transaction Documents” means, individually and collectively, the Note Documents, the Issuer Organizational
Documents and the Constituent Documents of Parent and CCH Direct Parent. 
 “Transfer Restrictions” means, with respect to
any property (including, in the case of securities, security entitlements in respect thereof), any condition to or restriction on the ability of the holder thereof to sell, assign or otherwise transfer such property or item of collateral or to
enforce the provisions thereof or of any document related thereto whether set forth in such item of collateral itself or in any document related thereto, including (i) any requirement that any sale, assignment or transfer or enforcement of such
property or item of collateral be subject to any volume limitations, limitations to address tax matters (including Section 382 of the Code), or be consented to or approved by any person, including the issuer thereof or any other obligor
thereon, (ii) any limitations on the type or status, financial or otherwise, of any purchaser, pledgee, assignee or transferee of such property or item of collateral, (iii) any requirement of the delivery of any certificate, consent,
agreement, opinion of counsel, notice or any other document of any person to the issuer of, any other obligor on or any registrar or transfer agent for, such property or item of collateral, prior to the sale, pledge, assignment or other transfer or
enforcement of such property or item of collateral, (iv) any registration or qualification requirement or prospectus delivery requirement for such property or item of collateral pursuant to any federal, state or foreign securities law
(including any such requirement arising under the Securities Act) and (v) any legend or other notification appearing on any certificate representing such property to the effect that any such condition or restriction exists; except that the
required delivery of any assignment, instruction or entitlement order from Issuer or any pledgor, assignor or transferor of such property or item of collateral, together with any evidence of the corporate or other authority of such person, shall not
constitute such a condition or restriction. 
 “Transferee” means any Person that is a transferee or assignee of any Note,
and any successor to such Person’s or any other Note Holder’s interest in any Note. 
 “Treasury Regulations”
means the regulations promulgated under the Code. 
 “Trust Officer” means, with respect to Collateral Agent, any officer
assigned to the Corporate Trust Division - Corporate Finance Unit (or any successor division or unit) of Collateral Agent located at the Corporate Trust Office of Collateral Agent, who shall have direct responsibility for the administration of this
Agreement. 
 “Uniform Commercial Code” means the Uniform Commercial Code as adopted in any applicable jurisdiction. 

“Upfront Fee” means the fee described in subsection 3.2A. 

“USRPHC” means (i) a United States real property holding corporation within the meaning of Section 897(c)(2) of the
Code and (ii) a publicly traded partnership that is treated as a United States real property holding corporation pursuant to Treasury Regulations Section 1.897-1(c)(2)(iv). 

  
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 “Voting Interests” means shares of capital stock issued by a corporation, or
equivalent Equity Interests in any other Person, the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even if the right so to
vote has been suspended by the happening of such a contingency. 
 “VWAP Market Disruption Event” means (i) a failure
by the primary U.S. national or regional securities exchange or market on which the Parent Common Stock is listed or admitted to trading to open for trading during its regular trading session or (ii) the occurrence or existence, on any
Scheduled Trading Day for the Parent Common Stock for more than a one half-hour period in the aggregate during regular trading hours, of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by
the relevant securities exchange or otherwise) in the Parent Common Stock or in any options, contracts or future contracts relating to the Parent Common Stock. 

“VWAP Trading Day” means a Scheduled Trading Day on which (i) there is no VWAP Market Disruption Event and
(ii) trading in the Parent Common Stock generally occurs on the Applicable Exchange or, if the Parent Common Stock is not then listed on the Applicable Exchange, on the principal other U.S. national or regional securities exchange on which the
Parent Common Stock is then listed or, if the Parent Common Stock is not then listed on a U.S. national or regional securities exchange, on the principal other market on which the common stock is then traded. If the Parent Common Stock is not so
listed or admitted for trading, “VWAP Trading Day” means a “Business Day.” 
 “Waterfall Amount” means,
with respect to any Fiscal Quarter, the amount of cash, if any, deposited in the Revenue Account during such Fiscal Quarter (assuming that all operating revenues, income and cash receipts received by or on behalf of the Project Entities during any
Fiscal Quarter are deposited into the Revenue Account during such Fiscal Quarter (for the avoidance of doubt, other than any debt or asset sale proceeds, equity funding, escrowed funds, liquidated damages amounts, insurance and condemnation proceeds
required to be deposited into other accounts pursuant to the Permitted Senior Debt Documents or other indemnity amounts required to be paid to third parties)), less the following payments and transfers made during such Fiscal Quarter: 

(i) first, payments and transfers for Operation and Maintenance Expenses reasonably estimated to be due and payable
within the next 60 days by making a transfer to the Operating Account; 
 (ii) second, payments and transfers for
Secured Party Fees then due and payable under the Permitted Senior Debt Documents; 
 (iii) third, payments and
transfers for payments of Senior Debt Obligations then due and payable (other than Senior Debt Obligations expressly due and payable at a lower level of the cash waterfall pursuant hereto) on a pro 

  
 49 

 
rata basis to all CCH Senior Creditors (to the extent not funded from funds available in the Disbursement Account or by “book entry” under a Facility Agreement); 

(iv) fourth, payments and transfers for Permitted Finance Costs; 

(v) fifth, following the Project Completion Date, payments and transfers to satisfy any Senior Debt Reserve Shortfall by
making a transfer to the Senior Debt Service Reserve Account; 
 (vi) sixth, payments and transfers for any mandatory
prepayments under any Senior Debt Instrument not payable out of a specific Account that are then due and payable and excluding any mandatory prepayments related to the failure to make a Restricted Payment (as that term is defined in the CCH Senior
Financing, or if the CCH Senior Financing is repaid in full prior to the Discharge Date, the corresponding term as defined in the Permitted Senior Debt Documents) pursuant to the Permitted Senior Debt Documents; and 

(vii) seventh, payments and transfers for any Permitted Payment. 

“Withdrawal Liability” means any liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are defined in Sections 4203 and 4205 of ERISA. 
 “Working Capital Debt” means
senior secured or unsecured indebtedness outstanding at any one time under one or more working capital facilities for working capital purposes (including the issuance of letters of credit from time to time), as permitted by the Permitted Senior Debt
Documents. 
 “Yield Maintenance Amount” means, with respect to any (x) prepayment of the Notes pursuant to
subsection 3.3B(i), (iii) or (iv) or subsection 3.3C, or (y) acceleration of the Notes pursuant to Section 10 an amount, determined in accordance with clauses (a) and (b) below, which
shall become immediately due and payable in addition to all principal and accrued but unpaid interest (including amounts added to principal pursuant to subsection 3.2B(iii)) then due on the Notes. 

(a) The Yield Maintenance Amount in connection with a prepayment or acceleration shall be equal to the excess, if any, of: 

 

	 	(i)	 the then present value of the remaining scheduled principal (including amounts paid, or projected to be paid, in kind and added to principal pursuant
to Section 3.2B(iii)) and interest payments on the Notes avoided by such prepayment or acceleration (from and after the Commercial Operation Date, excluding accrued and unpaid interest due on the date of prepayment (other than any interest paid
in kind and added to the principal of the Notes)), based on the Deemed Cash Interest Payments, discounted to the date of prepayment or acceleration on a quarterly basis, assuming a 360-day year consisting of twelve 30-day months, at a rate that is
0.50% 

  
 50 

	 	
greater than the yield to maturity of those actively traded United States Treasury securities having a maturity closest to the remaining term of the Notes, in each case, such yields to maturity
to be determined by interpolating linearly from the yield to maturity of the relevant securities (as such yields to maturity are displayed by Bloomberg L.P. (or such other source as may be mutually acceptable to Issuer and Agent) at 12:00 p.m.
(noon) (New York City time) on the third Business Day preceding the date of such prepayment or acceleration), or, if such yields are not reported as of such time or if the yields as of such time are not ascertainable, (including by interpolation,
the Treasury constant maturity series yields reported, for the latest day for which such yields have been so reported as of the third Business Day preceding the date of such prepayment or acceleration in Federal Reserve Statistical Release H.15 or
any comparable successor publication) for U.S. Treasury Securities having a constant maturity equal to the remaining term of the Notes, all as reasonably determined by Agent after consultation with Issuer; over 

 

	 	(ii)	the aggregate principal amount of the Notes (including amounts paid in kind through the date of prepayment and added to principal pursuant to Section 3.2B(iii)) being prepaid pursuant to any applicable clause of
subsection 3.3B or subsection 3.3C or due as a result of an acceleration under Section 10, plus, any accrued but unpaid interest thereon due on the date of prepayment. 

(b) For purposes of the calculation of the Yield Maintenance Amount, interest shall be calculated at the Base Interest rate.
For the avoidance of doubt, in no event shall the Yield Maintenance Amount be less than zero. 
 1.2 Accounting Terms 

All accounting terms not specifically defined herein shall be construed in accordance with generally accepted accounting principles in the
United States (“GAAP”). 
 1.3 Certain Principles of Interpretation 

A. Unless otherwise expressly specified, any reference in this Agreement to any document or agreement, and all schedules, exhibits and
attachments thereto, shall be deemed to include references to such document, agreement, schedules, exhibits or attachments, as amended, supplemented or otherwise modified and in effect from time to time. Unless otherwise expressly specified, any
reference in this Agreement to any Person shall include its permitted successors and assigns and, in the case of any Governmental Authority, any Person succeeding to its functions and capacities. 

B. Defined terms in this Agreement shall include in the singular number the plural and in the plural number the singular. 

  
 51 

 C. The words “hereof”, “herein” and “hereunder” and words of
similar import when used in this Agreement shall, unless otherwise expressly specified, refer to this Agreement as a whole and not to any particular provision of this Agreement and all references to Sections, subsections, Exhibits and Schedules
shall be references to Sections, subsections, Exhibits and Schedules of this Agreement unless otherwise expressly specified. 
 D.
The words “include,” “includes” and “including” are not limiting and shall be deemed to be followed by the phrase “without limitation”. 

E. The term “knowledge” in relation to Issuer, and any other similar expressions, shall mean actual knowledge of any Person
holding any of the positions (or successor position to any such position) set forth in Schedule 1.3E, in each case, after due inquiry. 

F. The omission of the word “any” or the phrase “if any” with respect to anything shall not imply that the thing
exists or is required, notwithstanding the inclusion of such word or phrase (for clarity) in other provisions. 
 G. References in
this Agreement to any statute shall be to such statute as amended or modified from time to time and to any successor legislation thereto, in each case as in effect at the time any such reference is operative. 

 

	SECTION 2	THE SECURITIES; CLOSING; DELIVERY 

 2.1 Closing 

A. Purchase and Sale of Initial Securities. Subject to the terms and conditions set forth herein, Issuer agrees to issue, sell and
deliver to each Note Purchaser, and each Note Purchaser hereby agrees, severally and not jointly, to purchase from Issuer at the Closing upon satisfaction or waiver of the conditions set forth in subsection 4.1, convertible senior secured
promissory notes of Issuer dated as of the Closing Date in an aggregate principal amount of $1,500,000,000 (the “Initial Notes” and, each, an “Initial Note”), in the applicable principal amount of the Note set forth
opposite such Note Purchaser’s name on Schedule 2.1, at the purchase price of 100% of the principal amount thereof. 
 B.
Closing. The closing of the issuance of the Initial Notes to the Note Purchasers (the “Closing”) shall be held or take place, subject to the satisfaction or waiver of all conditions to the Closing set forth in subsection
4.1 hereof, at 10:00 a.m. New York City time, at the offices of Sullivan & Cromwell LLP in New York City on the date that is two Business Days following the date on which all of the conditions set forth in subsection 4.1
have been satisfied or waived in accordance with their terms (other than those conditions that by their nature are to be satisfied by actions taken at the Closing or concurrently with the Closing) or at such other date, time and place as Issuer and
Agent may mutually agree upon (the “Closing Date”). At the Closing, each Note Purchaser shall deliver to Issuer an executed copy of the letter addressed to the Co-Placement Agents substantially in the form attached hereto as
Exhibit L. 
 C. Delivery. Subject to the terms of this Agreement, at the Closing, Issuer will deliver to Agent the
Initial Note being purchased by each Note Purchaser hereunder, which 

  
 52 

 
shall be substantially in the form of Exhibit A-1 hereto, together with all other documents, instruments and writings required to be delivered at or prior to the Closing pursuant to
this Agreement. 
 2.2 Additional Notes 

A. Purchase and Sale of Additional Securities. Subject to the terms and conditions set forth herein, Issuer agrees to issue, sell and
deliver to each Note Holder Additional Notes in an aggregate principal amount equal to such Note Holder’s proportionate share of any Funded Amount paid by the Note Holders pursuant to subsection 10.3, with such proportionate share
determined based on the principal amount of Additional Notes funded by such Note Holder compared to the total principal amount of Additional Notes funded by the Note Holders on such date; it being understood that the proportionate share of any Note
Holder that has elected, in its sole discretion, not to fund any Additional Notes shall be zero for the purposes of this subsection 2.2. 

B. Delivery. Promptly, and in any event within three (3) Business Days after the Note Holders contribute any Funded Amount to
Issuer pursuant to subsection 10.3 or, in the case of any payment to any third Person, certify to Issuer and provide evidence satisfactory to Issuer that such payment has been made, Issuer will deliver to Agent the Additional Note being
purchased by each Note Holder that has funded any Funded Amount hereunder, which shall be substantially in the form of Exhibit A-2 hereto, together with all other documents, instruments and writings required to be delivered in connection
with the issuance of such Additional Notes. 
 2.3 Use of Proceeds 

Issuer shall use the proceeds of the Initial Notes solely to (a) make capital contributions to CCH Direct Parent, which contributions
shall be contributed by CCH Direct Parent to CCH (in the form of Equity Funding), to fund Project Costs and (b) pay fees and expenses (i) due under the Note Documents and (ii) incurred by the Subject Companies in connection with the
consummation of the Transaction. To the extent contributed to CCH (through CCH Direct Parent), all such proceeds shall be funded as First Tier Equity Funding (as defined in the CCH Senior Financing Documents) under the CCH Senior Financing
Documents. Issuer shall contribute the proceeds of any Additional Notes to CCH Direct Parent, shall cause such contributions to be contributed by CCH Direct Parent to CCH (in the form of Equity Funding) and shall cause CCH to apply such proceeds in
accordance with subsection 7.7C and subsection 10.3. 
 2.4 Cooperation with CCH Senior Financing 

EIG MC shall cooperate with Parent and Issuer and shall make its representatives available during reasonable business hours for meetings and
customary diligence calls in connection with the syndication of the CCH Senior Financing. Issuer shall indemnify EIG MC and its Affiliates and their respective officers, directors, employees, partners, members, representatives and agents in
accordance with subsection 12.2 from any Subject Claims that may at any time be imposed on, asserted against or incurred by any of the foregoing as a result of, arising out of, or in any way in connection with the actions taken by EIG MC or
any of its Affiliates or any of their respective officers, directors, employees, partners, members, representatives and agents in connection with EIG MC’s obligations pursuant to this subsection 2.4. 

  
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	SECTION 3	THE NOTES – MATURITY; INTEREST AND FEES; PRINCIPAL PAYMENTS AND PREPAYMENTS 

 3.1
Maturity 
 The Notes shall mature on the Maturity Date, and on such date (including any accelerated maturity as herein
provided), the full amount of principal (including all amounts added to principal pursuant to subsection 3.2B(iii)) under the Notes then outstanding, all accrued and unpaid interest thereon and, as applicable, all Yield Maintenance Amounts
with respect thereto, shall be due and payable. 
 3.2 Fees and Interest 

A. Upfront Fees. On the Closing Date, Issuer shall pay to EIG MC an upfront fee pursuant to and in accordance with the terms of the
Commitment Letter. For the avoidance of doubt, such fee shall be fully earned on the Closing Date and shall be non-refundable. 
 B.
Interest on the Notes. 
 (i) Base Interest. Subject to the provisions of subsection 3.2B(ii), the unpaid principal
amount of the Initial Notes (consisting, from time to time, of interest that is paid in kind as described in subsection 3.2B(iii)) shall bear interest at a base rate of eleven percent (11.0%) per annum, compounded quarterly payable in
arrears on each Payment Date. Subject to the provisions of subsection 3.2B(ii), the unpaid principal amount of any Additional Notes (which may consist in part, from time to time, of interest that is paid in kind as described in subsection
3.2B(iii)) shall bear interest at a base rate of fifteen percent (15.0%) per annum, compounded quarterly payable in arrears on each Payment Date. The interest payable pursuant to this subsection 3.2B(i) is referred to herein as the
“Base Interest”. 
 (ii) Default Interest Rate. Upon the occurrence and during the continuance of an Event of
Default hereunder, the unpaid principal amount of the Notes (including all amounts added to principal pursuant to subsection 3.2B(iii)) and, to the extent permitted by applicable Requirements of Law, any accrued and unpaid interest thereon
and any other Note Obligations then due and payable (including any Yield Maintenance Amounts and, to the extent permitted by applicable Requirements of Law, any accrued but unpaid interest thereon), shall bear interest at the Default Interest Rate
and shall be payable on demand. 
 (iii) Payment in Kind. 

(a) Prior to the Commercial Operation Date, the interest accrued pursuant to subsection 3.2B(i) shall be paid in kind
(in lieu of payment in cash) on the applicable Payment Date, and on the relevant Payment Date the aggregate outstanding principal amount of the Notes shall be automatically increased by the amount of such interest so paid in kind, rounded down to
the nearest whole Dollar, and an adjustment shall be made on the Note Register to reflect such increase. 

  
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 (b) From and after the Commercial Operation Date, if no Event of Default has
occurred and is continuing and solely to the extent that the sum of cash on hand at Issuer together with the Operating Cash Available for Interest for the most recently completed Fiscal Quarter (without duplication of amounts (i) distributed to
Issuer in any Fiscal Quarter and included in the calculation of Operating Cash Available for Interest with respect to such Fiscal Quarter or (ii) contributed to Issuer by Parent so that Issuer has sufficient cash to pay interest in an amount
that is not less than Operating Cash Available for Interest with respect to the most recently completed Fiscal Quarter) is not sufficient to enable Issuer to pay in cash all Base Interest accrued pursuant to subsection 3.2B(i), a portion of
such Base Interest in the amount of such insufficiency (rounded up to the nearest whole Dollar) may be paid in kind (in lieu of payment in cash) on the applicable Payment Date by written election of Issuer to Agent on or prior to such Payment Date
and in such case on the relevant Payment Date the aggregate outstanding principal amount of the Notes shall be automatically increased by the amount of such interest so paid in kind, rounded down to the nearest whole Dollar, and an adjustment shall
be made on Note Register to reflect such increase; provided that accrued interest in an amount no less than Operating Cash Available for Interest for the most recently completed Fiscal Quarter shall at all times following the Commercial
Operation Date be paid in cash and not in kind. 
 (c) For the avoidance of doubt, the entire amount of Base Interest at an
aggregate base rate of eleven percent (11.0%) or fifteen percent (15.0%), as applicable, per annum shall be paid, either in cash or in kind, in accordance with this Agreement. 

(d) All amounts of Base Interest added to the principal of the Notes pursuant to this subsection 3.2B(iii) shall bear
interest as provided herein, be payable as provided in subsection 3.3 and be due and payable on the Maturity Date. Issuer’s determination of the principal amount of the Notes outstanding at any time shall be conclusive and binding,
absent manifest error. 
 (iv) Maximum Amount of Interest. Anything to the contrary herein or in any other Note Document
notwithstanding, interest payable hereunder and under the Notes shall not exceed the maximum amount permitted under the laws of the State of New York. To the maximum extent it may lawfully do so, Issuer hereby irrevocably waives any defense or
objection to the payment of any Note Obligation on the basis that the payment of such Note Obligation is limited by the Requirements of Law of any jurisdiction, including but not limited to any usury law or other Requirement of Law intended to limit
the amount of money which may be charged for the extension of credit. 

  
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 C. Computation of Interest and Fee. 

Interest on the Notes accrued pursuant to subsections 3.2B(i) and 3.2B(ii) shall be computed on the basis of a year consisting
of three hundred and sixty (360) days (comprised of twelve 30-day months) and actual number of days elapsed in the case of partial months. 

3.3 Mandatory Principal Payments and Prepayments 

A. Scheduled Principal Payments. On the Maturity Date (including any accelerated maturity as provided herein), all principal (including
all amounts added to principal pursuant to subsection 3.2B(iii)) then outstanding on the Notes, together with all accrued and unpaid interest thereon, and the Yield Maintenance Amount, if any, with respect thereto, shall be due and payable.

 B. Mandatory Prepayments. 

(i) Prepayments with Distributions from CCH. Issuer shall promptly offer to redeem and prepay the Notes, together with all accrued and
unpaid interest thereon to, but excluding, the date of prepayment, and the Yield Maintenance Amount with respect thereto, with 100% of any distributions actually received by Issuer from CCH Direct Parent in excess of $25,000,000 in the aggregate
during the term of this Agreement representing proceeds received by CCH Direct Parent directly or from any Project Entity’s receipt of funds as a result of (a) any Asset Sales of CCH Direct Parent or any Project Entity, (b) any
Casualty Event or Event of Eminent Domain (except to the extent such proceeds were received in respect of any repayment or reimbursement of any Equity Funding (other than the Proceeds of the Initial Notes or Additional Notes) contributed to, or
amounts paid on behalf of, the affected Project Entity for purposes of commencing any repair or replacement of such Project Entity’s Properties ), (c) the incurrence or issuance of Debt by any Project Entity (other than the proceeds of the
CCH Senior Financing) and (d) any Liquidated Damages (except to the extent such proceeds were received in respect of any repayment or reimbursement of any Equity Funding (other than the Proceeds of the Initial Notes or Additional Notes) to the
extent such funding was used to complete, repair, refurbish or improve the Project) in accordance with subsection 3.3B(vi). For the avoidance of doubt, CCH shall not be required to make any distributions. 

(ii) Prepayment upon a Change of Control. Upon the occurrence of a Change of Control, Issuer shall promptly offer to redeem and prepay
the outstanding principal of the Notes in full at 101% of the aggregate principal amount of the Notes outstanding as of the date of such Change of Control, together with all accrued and unpaid interest thereon to, but excluding, the date of
prepayment in accordance with subsection 3.3B(vi). 
 (iii) Prepayment Upon Sale or Contribution of CCH Direct Parent or CCH to
CQP. Issuer shall offer to redeem and prepay the Notes, together with all accrued and unpaid interest thereon to, but excluding, the date of prepayment and the Yield Maintenance Amount with respect thereto, as required pursuant to subsection
7.6A in accordance with subsection 3.3B(vi). 

  
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 (iv) Prepayment Upon IPO of Subsidiary. In the event that Issuer or any of its Affiliates
consummates an initial public offering of the Equity Interests of any Subsidiary of Issuer, before any Restricted Payment may be made with all or any portion of the proceeds of such initial public offering, Issuer shall offer to redeem and prepay
the Notes, together with all accrued and unpaid interest thereon to, but excluding, the date of prepayment and the Yield Maintenance Amount with respect thereto, with the amount of such proceeds (net of underwriting discounts, commissions and costs
and expenses payable by the Issuer or any such Affiliate associated with such initial public offering) of such initial public offering contemplated to be used to make such Restricted Payment in accordance with subsection 3.3B(vi). 

(v) Repurchase of Repurchased Non-Converted Notes. Issuer shall repurchase Repurchased Non-Converted Notes in accordance with
subsection 9.4. 
 (vi) Offer to Prepay. 

(a) Upon the occurrence of a Change of Control or within five Business Days after the occurrence of any event described in
subsection 3.3B(i), (iii) or (iv) above requiring Issuer to make an offer to redeem and prepay the Notes, Issuer shall prepare and provide to each Note Holder a notice (each, an “Offer to Repay
Notice”), which shall be substantially in the form of Exhibit E and shall include an offer (the “Offer to Repay”) pursuant to the covenant in subsections (i), (ii), (iii) or
(iv) above, as applicable, to repay, on the date (each, an “Offer Settlement Date”) that is twenty (20) Business Days, after the date of the Offer to Repay Notice, (A) in the case of an event described in
subsection (i), (iii) or (iv) above, the maximum principal amount of Notes that may be purchased with the amounts described in such subsections (or in the case of subsection (iii) above, the amount
described in subsection 7.6A), at an offer price in cash in an amount equal to 100% of the outstanding principal amount thereof plus accrued and unpaid interest thereon, if any, to, but excluding, the Offer Settlement Date plus the Yield
Maintenance Amount with respect thereto, or (B) in the case of an event described in subsection (ii) above, 101% of the outstanding principal amount of the Notes plus accrued and unpaid interest thereon, if any, to, but excluding,
the Offer Settlement Date. Each Note Holder (or its appointee) wishing to accept the Offer to Repay shall reply, substantially in the form of Schedule 1 to Exhibit E, indicating whether such Offer to Repay is accepted by 5:00 p.m.
(Houston time) on the fifth Business Day immediately preceding the Offer Settlement Date. Each Note Holder accepting the Offer to Repay shall surrender such Note Holder’s Note to Issuer and, if required, furnish appropriate endorsements and
transfer documents. 
 (b) Two Business Days prior to any Offer Settlement Date, Issuer shall deliver to each Note Holder
that has accepted an Offer to Repay pursuant to subsection 3.3B(vi)(a), a certificate of the Chief Financial Officer specifying the principal amount of the Notes of such Note Holder to be repaid on such Offer Settlement Date plus the Yield
Maintenance Amount, if applicable, and the amount of accrued and unpaid interest thereon to, but excluding, the Offer Settlement Date to be paid on such Offer Settlement Date. On each Offer Settlement Date, Issuer shall pay pro rata (based on the
principal amounts indicated in the Note Holders’ replies to the Offer to Repay), rounded down to the nearest whole Dollar, to those Note Holders who have accepted the related Offer to Repay the aggregate amount required to be paid pursuant to
this subsection 3.3B. 

  
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 (c) The Issuer will comply with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with the repayment of the Notes pursuant to this subsection 3.3B. To the extent that the provisions of
any securities laws or regulations conflict with the provisions of this Agreement or the Notes, the Issuer will comply with the applicable securities laws and regulations and will be deemed to have complied with its obligations under this Agreement
and the Notes by virtue of such compliance. 
 (d) The Issuer will not be required to make an offer pursuant to
subsection 3.3B(ii) upon a Change of Control if a third party makes such offer in the manner, at the time and otherwise in compliance with the requirements set forth in this subsection 3.3B, and purchases all the Notes subject to
acceptance of the related Offer to Repay. Notwithstanding anything to the contrary herein, an offer pursuant to subsection 3.3B(ii) may be made in advance of a Change of Control, conditional upon such Change of Control, if a definitive
agreement is in place for the Change of Control at the time of the making of such offer. 
 Any amount prepaid on the Notes may not be
reborrowed. Notwithstanding anything set forth in this subsection 3.3B to the contrary, no prepayment in an amount less than $1,000,000 shall be required at any time, including, for the avoidance of doubt, if an Offer to Repay is in respect
of an amount equal to or greater than $1,000,000 but Notes in an aggregate principal amount less than $1,000,000 are subject to acceptance of the Offer to Repay. 

C. Optional Prepayments of Principal. 

Issuer may prepay the principal amount of the Notes outstanding, in whole or in part; provided that (a) Issuer shall give Agent
not less than ten (10) Business Days prior written notice, specifying the principal amount to be prepaid and the date of prepayment, and (b) any such prepayment shall include (A) all accrued and unpaid interest on the principal amount
to be prepaid to, but excluding, the date of prepayment plus (B) if the date of prepayment is on or before the ninth anniversary of the Closing Date any Yield Maintenance Amount determined pursuant to subsection 3.3D on the
principal amount being prepaid and shall be in an aggregate minimum amount of $25,000,000 (or, if less, the outstanding principal amount). After the ninth anniversary of the Closing Date any principal amount being prepaid under this subsection
3.3 shall be prepaid at par and without any Yield Maintenance Amount. Any notice of prepayment shall be irrevocable once issued (unless such notice of prepayment is expressly conditioned upon the occurrence of a refinancing, in which case such
notice of prepayment may be revoked on or before the date specified in such notice of prepayment by notice to Agent stating that such refinancing will not occur on such specified date). Any amount prepaid on the Notes may not be reborrowed. 

  
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 D. Inclusion of Interest and Yield Maintenance Amount with Prepayments. 

(i) Any prepayment of principal of the Notes, including any prepayment of principal of the Notes required by Section 10 in
connection with an acceleration of the Notes, shall be made together with (a) all accrued but unpaid interest on the principal amount to be prepaid to, but excluding, the date of repayment, plus (b) except with respect to
prepayments pursuant to subsection 3.3B(ii), repurchases of Repurchased Non-Converted Notes pursuant to subsection 9.4 or prepayments made after the ninth anniversary of the Closing Date, the Yield Maintenance Amount. 

(ii) Issuer acknowledges, understands and agrees that (a) Issuer’s request for the Note Holders to purchase the Notes, and the Note
Holders’ agreement to purchase the Notes pursuant to the terms of the Note Documents, will result in the inability of the Note Holders to deploy such funds for profit in respect of other economic opportunities, and will result in the Note
Holders ceasing to seek out such other economic opportunities in light of the funds committed hereunder; (b) the Note Holders have expended substantial time and expense, and have abstained from other business opportunities, to research,
diligence, negotiate and undertake the transactions contemplated by the Note Documents, and the Note Holders have done so in the reasonable expectation of receiving in full all sums they will receive if the Notes are repaid in accordance with the
terms hereof; and (c) in light of the matters described in the preceding sub-clauses (a) and (b), and for other good and valuable consideration, the parties to the Note Documents have agreed upon the Yield Maintenance Amounts
which may otherwise become due and payable under this Agreement as an express inducement to the Note Holders to purchase the Notes and to undertake the transactions contemplated by the Note Documents. In consideration (and not in limitation) of the
forgoing, the Note Holders and Issuer agree that any Yield Maintenance Amount payable pursuant to this Agreement is a reasonable estimate of Note Holders’ actual losses, and losses of opportunity, in connection with the applicable prepayment,
which shall be treated as additional proceeds on the Notes and which are not intended to, nor do they, constitute a penalty or unpermitted premium. 

3.4 Application of Payments 

Any payments under the Note Documents shall be applied in the following order of priority: first, to pay in full any outstanding fee,
indemnity amount, expense recoupment charge, or any other Note Obligation which is due and payable and not otherwise addressed in the remainder of this subsection 3.4; second, to pay in full any Yield Maintenance Amount required
pursuant to subsection 3.3 or subsection 10.2; third, to pay any outstanding interest then due and payable pursuant to the Notes to the full extent thereof; and fourth, to pay any principal (including all amounts added to
principal pursuant to subsection 3.2B(iii)) outstanding under the Notes to the full extent thereof. 
 3.5 Taxes 

A. Any and all payments on account of any Note Obligation (including any interest or Yield Maintenance Amount) shall be made free and
clear of and without deduction or withholding for any Taxes, except as otherwise required by applicable Requirements of Law. If 

  
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a withholding agent is required by Requirements of Law to deduct or withhold any Taxes from any sum paid or payable under any of the Note Documents, then (i) if such Taxes are Indemnified
Taxes, the sum payable by Issuer shall be increased as necessary so that after making all required deductions or withholdings (including deductions and withholdings applicable to additional sums payable under this subsection 3.5), the
applicable recipient receives an amount equal to the sum it would have received had no such deductions or withholdings been made and (ii) such withholding agent shall make such deductions or withholdings and shall timely pay the full amount
deducted or withheld to the relevant Governmental Authority in accordance with the applicable Requirements of Law. The parties intend that any additional funds payable pursuant to the previous sentence will be treated as additional interest for U.S.
federal income tax purposes. 
 B. Issuer shall timely pay to the relevant Governmental Authority in accordance with any applicable
Requirements of Law, or at the option of Agent timely reimburse it for the payment of, any Other Taxes. 
 C. Issuer shall indemnify
each recipient of any payment to be made by or on account of any Obligation under any Note Document, without duplication of subsection 3.5A or subsection 3.5B, within ten (10) days after demand therefor, for the full amount of any
Indemnified Taxes paid or payable by such recipient or required to be withheld or deducted from a payment to such recipient on or with respect to any payment by or on account of any Note Obligation (including Indemnified Taxes imposed or asserted on
or attributable to amounts payable under this subsection 3.5) and any reasonable expenses arising in connection with such payment, deduction or withholding, whether or not such Indemnified Taxes were correctly or legally imposed or asserted
by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to Issuer by such recipient (with a copy to Agent), or by Agent on its own behalf or on behalf of a Note Holder, shall be conclusive absent
manifest error. 
 D. As soon as practicable after any payment of Indemnified Taxes by Issuer to a Governmental Authority, Issuer
shall deliver to Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to Agent. 

E. In the event a recipient of any payment to be made by or on account of any Obligation under any Note Document determines in its sole
discretion that it has received a Tax refund in respect of Taxes as to which it has been indemnified by Issuer or with respect to which Issuer has paid additional amounts pursuant to subsection 3.5A or subsection 3.5C, such recipient
shall refund such amounts to Issuer (but only to the extent of indemnity payments made under subsection 3.5A or subsection 3.5C with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes)
of such recipient and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided that Issuer, upon the request of such recipient agrees to repay the amount paid over to Issuer
(plus any penalties, interest or other charges imposed by a Governmental Authority) to such recipient in the event such recipient is required to repay such refund to a Governmental Authority. Notwithstanding anything to the contrary in this
clause E, in no event will a recipient be required to pay any amount to Issuer pursuant to this clause E, the payment of which would 

  
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place such recipient in a less favorable net after-Tax position than such recipient would have been in if the Tax subject to indemnification giving rise to such refund had not been deducted,
withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. Nothing in this clause E shall require a recipient to make available its Tax returns (or any other
information relating to its Taxes which it deems confidential in its sole discretion) to Issuer or any other Person. 
 F. Any Note
Holder that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Note Document shall deliver to Issuer and Agent, at the time or times reasonably requested by Issuer or Agent, such properly
completed and executed documentation reasonably requested by Issuer or Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Note Holder, if reasonably requested by Issuer or Agent,
shall deliver such other documentation prescribed by applicable law or reasonably requested by Issuer or Agent as will enable Issuer or Agent to determine whether or not such Note Holder is subject to backup withholding or information reporting
requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than the Prescribed Forms) shall not be required if in the Note Holder’s reasonable
judgment such completion, execution or submission would subject such Note Holder to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Note Holder. Without limiting the generality of the
foregoing, each Note Purchaser shall deliver to Agent and Issuer on the Closing Date and on the date a Note Holder acquires its interest in the Notes two executed copies of the applicable Prescribed Form it is legally entitled to provide that will
permit such payments to be made without withholding (or backup withholding) or at a reduced rate of withholding. Each Note Holder agrees that from time to time thereafter upon the reasonable request of Agent and Issuer and if any Prescribed Form it
previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such Prescribed Form or promptly notify Agent and Issuer of its legal inability to do so. 

G. If a payment made to a Note Holder under any Note Document would be subject to U.S. federal withholding Tax imposed by FATCA if such
Note Holder were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Note Holder shall deliver to Issuer and Agent at the time or times
prescribed by applicable law and at such time or times reasonably requested by Issuer or Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation
reasonably requested by Issuer or Agent as may be necessary for Issuer and Agent to comply with their obligations under FATCA and to determine that such Note Holder has complied with such Note Holder’s obligations under FATCA or to determine
the amount to deduct and withhold from such payment. Solely for purposes of this clause G, FATCA shall include any amendments made to FATCA after the Closing Date. 

H. Each party hereto agrees (i) to treat the Notes as debt for U.S. federal tax purposes, and (ii) the Notes are not
“contingent payment debt instruments” within the meaning of Treasury Regulations Section 1.1275-4 unless otherwise required pursuant to a final “determination” within the meaning of Section 1313(a) of the Code. The
parties shall treat for all income Tax purposes any payments described under subsection 3.3B and subsection 3.3C as a 

  
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pro rata prepayment of such Notes pursuant to Treasury Regulations Section 1.1275-2(f) and, solely for income Tax purposes, the Notes shall be deemed retired and reissued under Treasury
Regulations Section 1.1275-2(h)(6)(ii) or Treasury Regulations Section 1.1272-1(c)(6), as applicable, after such prepayment. 

I. EIG MC shall deliver a duly executed Internal Revenue Service Form W-9 to Issuer on or prior
to the date it becomes Agent hereunder. 
 J. Each party’s obligations under this subsection 3.5 shall survive the
resignation or replacement of Agent or any assignment of rights by a Note Holder and the repayment, satisfaction or discharge of all obligations under any Note Document. 

3.6 General Provisions Regarding Payment 

A. If more than one Note is outstanding, except with respect to repurchases of Repurchased Non-Converted Notes, payments pursuant to
subsection 9.9E or as set forth in subsection 3.3B(vi)(b), all payments on the Notes shall be applied to the Notes pro rata based on the principal amounts outstanding. 

B. All payments of principal and interest and other amounts due hereunder and under the Notes and the other Note Documents shall be in
same day funds and delivered to Note Holders not later than 12:00 p.m. (noon) (New York City time) on the date due (without setoff or counterclaim) in Dollars in immediately available funds through wire transfer to Agent (or an account
designated by Agent) for the account of the applicable Note Holder as set forth on Schedule 3.6B opposite the name of such Note Holder or at such other place in the United States as shall be designated in writing by such Note Holder to
Issuer. All payments of amounts due to Agent hereunder shall be in same day funds and shall be delivered to Agent (or an account designated by Agent) not later than 12:00 p.m. (noon) (New York City time) on the due date (without setoff or
counterclaim) in Dollars in immediately available funds through wire transfer to the applicable account of Agent as set forth on Schedule 3.6B opposite the name of Agent or in such other place in the United States as shall be designated in
writing by Agent to Issuer. At the time of payment, written confirmation of such payment shall be sent to Agent on behalf of the applicable Note Holder or Agent, as applicable, by facsimile or electronic mail at the number or address, respectively,
set forth in Schedule 3.6B indicating the principal and interest paid and a wire transfer identification number. Funds received by Note Holders or Agent, as applicable, after that time shall be deemed to have been paid on the next succeeding
Business Day and shall accrue interest accordingly. Whenever any payment to be made hereunder or under the Notes shall be stated to be due on a day that is not a Business Day, the payment shall be made on the next succeeding Business Day without
adjustment in the computation of the payment of interest and fees (if applicable) hereunder or under the Notes. 
 3.7 Increased
Costs 
 If any Change in Law shall subject any Note Holder to any Taxes (other than (A) Indemnified Taxes covered in
subsection 3.5, (B) Taxes described in clauses (ii) through (iv) of the definition of Excluded Taxes, and (C) Connection Income Taxes) on its notes, principal, or other obligations, and the result of any
of the foregoing shall be to increase the cost to such Note 

  
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Holder of making, holding or maintaining any Note, or to reduce the amount of any sum received or receivable by such Note Holder hereunder (whether of principal, interest or any other amount)
then, upon request of such Note Holder, Issuer will pay to such Note Holder, as the case may be, such additional amount or amounts as will compensate such Note Holder, as the case may be, for such additional costs incurred or reduction suffered. A
certificate as to such amounts submitted to Issuer and Agent by such Note Holder shall be conclusive and binding for all purposes absent manifest error. 

3.8 Minimizing Additional Costs 

Each Note Holder shall use good faith efforts to avoid or minimize any additional costs, Taxes, expenses or other Obligations which might
otherwise be imposed on Issuer pursuant to either of subsection 3.5 or subsection 3.7 hereof; provided that such efforts shall not (i) cause the imposition on any such Note Holder of any material unreimbursed additional
costs or legal or regulatory burdens, (ii) violate the terms of any agreement between a Note Holder or its Affiliate, on one hand, and any investor in such Note Holder or Affiliate, on the other hand, or (iii) otherwise be materially
disadvantageous to such Note Holder. Issuer hereby agrees to pay all reasonable and documented out-of-pocket costs and expenses incurred by any Note Holder in connection with any such efforts. 

3.9 Cancellation of Notes 

Issuer will promptly cancel all Notes acquired by it or any Affiliate and no Notes may be issued in substitution or exchange for any such
Notes. 
  

	SECTION 4	CONDITIONS TO CLOSING 

 4.1 Conditions to Closing 

The occurrence of the Closing Date and the obligations of each Note Holder to purchase the Initial Notes hereunder are subject to, and
conditioned upon, the satisfaction, on or prior to the Closing Date of each of the following conditions, unless waived by Agent and Required Note Holders: 

A. Note Documents. Agent and Collateral Agent shall have received each Note Document (together with all amendments, supplements,
schedules, and exhibits thereto, including Schedule 1.1C), each of which (a) (i) shall have been duly authorized, executed and delivered by each Note Document Party party thereto, and (ii) shall be in full force and effect and (b) no
Default shall have occurred and be continuing thereunder. 
 B. CCH Senior Financing. 

(i) Agent shall have received copies of each of the CCH Senior Financing Documents, duly executed by each of the parties thereto, that
reflect the terms and conditions set forth in the CCH Senior Financing Term Sheet, with no changes thereto that are materially adverse to the interests of the Note Holders, other than any such changes as are approved by the Required Note Holders.

  
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 (ii) To the extent not delivered pursuant to clause (i) above and subject to
Agent’s and the Note Holders’ entry into any confidentiality agreement reasonably requested by any third party Agent shall have received a copy of all closing documents and deliverables provided to the lenders under the CCH Senior
Financing; provided that in no circumstance shall the delivery of, or access to, copies of the ConocoPhilips License Agreements (as defined in each EPC Contract) be a condition to the occurrence of the Closing Date). 

(iii) Prior to or concurrently with the Closing, the “Closing” (as defined in the CCH Senior Financing Documents) shall have
occurred, as certified by a Responsible Officer of CCH (such certificate in form and substance reasonably satisfactory to Agent); provided that if CCH received a waiver from the lenders under the CCH Senior Financing with respect to any of
the following conditions precedent, a waiver shall have been obtained from the Required Note Holders on or prior to the Closing Date: 

(a) any of the conditions precedent described in Section 3.7.1(d) or (e) of the CCH Senior Financing Term Sheet;

 (b) the condition precedent described in Section 3.7.1(b)(ii) of the CCH Senior Financing Term Sheet with respect
specifically and solely to the requirement that the Initial LNG SPAs and the EPC Contracts be in full force and effect as of the required date; or 

(c) the truth and accuracy of the representations and warranties described in Section 3.9(u) of the CCH Senior Financing
Term Sheet with respect specifically and solely to obtaining the Greenhouse Gas Permit. 
 (iv) The satisfaction or, subject to the final
proviso of this section, waiver, of all conditions precedent to the initial advance of funds under the CCH Senior Financing Documents shall have occurred (except for conditions precedent that, by their nature, (a) are to be satisfied upon the
issuance of the Notes and the application of the proceeds therefrom or (b) cannot be satisfied until the date of such initial advance of funds under the CCH Senior Financing; provided that in the case of this clause (b), such
conditions precedent would have been satisfied as of the Closing Date if the initial advance had occurred on the Closing Date); provided, further, that no waiver of any condition precedent to the initial advance of funds under the CCH
Senior Financing shall limit, condition or delay the amount available to be drawn under the CCH Senior Financing. 
 C. Certificate of a
Responsible Officer. Agent and Collateral Agent shall have received a certificate from a Responsible Officer of Issuer in the form of Exhibit K attached hereto, dated the Closing Date, certifying that all of the representations and
warranties of any Note Document Party made in this Agreement and the other Note Documents are true and correct in all material respects on and as of the Closing Date (except to the extent (a) such representation and warranty expressly relates
to an earlier date, in which case such representation and warranty was true and correct in all material respects as of such date or (b) any such representation and warranty itself is qualified by “materiality”, “Material Adverse
Effect” or similar qualifier, in which case, it shall be true and correct in all respects). 

  
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 D. Constituent Documents; Good Standing Certificates. Agent and Collateral Agent shall
have received (i) the Issuer Organizational Documents, as amended, modified or supplemented to the Closing Date, certified to be in full force and effect and true, correct and complete as of the Closing Date by a Responsible Officer of Issuer,
together with a certificate of good standing from the Secretary of State of the State of Delaware dated no more than five Business Days prior to the Closing Date and (ii) the Constituent Documents of each other Note Document Party, as amended,
modified or supplemented to the Closing Date, certified to be in full force and effect and true, correct and complete as of the Closing Date by a Responsible Officer of such Note Document Party, together with a certificate of good standing from the
Secretary of State of the State of Delaware dated no more than five Business Days prior to the Closing Date. 
 E. Certified Resolutions,
etc. Agent and Collateral Agent shall have received certificates in form and substance reasonably satisfactory to Agent of a Responsible Officer of each Note Document Party, dated the Closing Date, (i) certifying (a) the names and true
signatures of the incumbent officers of such Note Document Party authorized to sign the Note Documents to which it is a party and (b) that all corporate or limited liability company action for approving and authorizing the execution, delivery
and performance of all such Note Documents by such Note Document Party has been taken, and (ii) attaching a copy of the resolutions adopted by or on behalf of such Note Document Party authorizing the execution, delivery and performance of all
such Note Documents. 
 F. Opinions of Counsel and Advisors. 

(i) Agent shall have received: 

(a) a legal opinion from Sullivan & Cromwell LLP, New York counsel to the Note Document Parties, addressed to Agent
and each Note Purchaser, dated the Closing Date, in the form of Exhibit I hereto; 
 (b) a legal opinion or
opinions from regulatory counsel to the Note Document Parties, addressed to Agent and each Note Purchaser, dated the Closing Date, in form and substance reasonably satisfactory to Agent; and 

(c) a reasoned opinion from a nationally recognized accounting firm or law firm reasonably acceptable to Agent (which, for the
avoidance of doubt, includes Ernst & Young LLP), addressed to Parent and Issuer, dated as of the Closing Date, and taking into account that Issuer will be treated as a corporation for U.S. federal income tax purposes as of the Closing Date,
to the effect that neither Issuer nor Parent should be a USRPHC. 
 (ii) Collateral Agent shall have received a reliance letter with
respect to certain of the matters addressed by the opinion delivered pursuant to subsection 4.1F(i)(a) in form and substance reasonably satisfactory to Collateral Agent. 

G. Security Documents; Filings. The Security Documents and all financing statements or other instruments with respect thereto, as may
be necessary, shall have been duly 

  
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executed, filed or recorded in such manner and in such places as are required by applicable Requirements of Law or by the applicable Security Documents to establish and perfect a Priority Lien
(subject to Excepted Liens) in favor of Collateral Agent for the benefit of the Secured Parties, as granted or purported to be granted in the Collateral pursuant to the Security Documents. Without limiting the generality of the foregoing,
(i) Parent shall have executed and delivered the Parent Pledge Agreement, (ii) Issuer shall have executed and delivered the Issuer Pledge Agreement, (iii) Issuer and the applicable Depositary Bank or Securities Intermediary shall have
entered into an Account Control Agreement with respect to the Issuer account into which all distributions from CCH Direct Parent will be deposited, (iv) each Note Document Party, as applicable, shall have executed and filed, or caused to be
filed, or Agent shall be satisfied that each Note Document Party, as applicable, shall file or cause or authorize to be filed substantially simultaneously with the Closing, UCC-1 financing statements under the Uniform Commercial Code with respect to
the Collateral in all jurisdictions required to provide Collateral Agent such perfected security interest in the Collateral and taken all such other action as is necessary has been taken to establish and perfect Collateral Agent’s rights in and
to the Collateral, including any recording, filing, registration, giving of notice or other similar action (assuming proper recordation of any such documents), (v) Agent and Collateral Agent shall have received evidence of the registrations and
filings referred to in clause (iv) above (or shall be satisfied that such registrations and filings shall be made substantially simultaneously with the Closing), (vi) Collateral Agent shall have received all share certificates
(together with stock powers executed in blank) representing all of the outstanding Equity Interests of Issuer and CCH Direct Parent to be pledged to Collateral Agent pursuant to the terms of the Pledge Agreements, and (vii) Agent and Collateral
Agent shall have received either copies of all such documents or other evidence reasonably satisfactory to Agent of the filing of all such financing statements and other recordings. All Taxes, fees, and other charges payable in connection therewith
shall have been paid in full by Issuer or arrangements shall have been made for the payment of same to the reasonable satisfaction of Agent. 

H. Record Searches. Agent and Collateral Agent shall have received completed requests for information or copies of the Uniform
Commercial Code reports and tax lien, judgment and litigation search reports for the States of Delaware and Texas that name any Note Document Party as debtor, together with copies of each Uniform Commercial Code financing statement, fixture filing
or other filings listed therein, which shall have revealed no filings or recordings with respect to any Collateral (other than with respect to Excepted Liens) or any other assets of any Subject Company (other than with respect to Permitted Liens) in
favor of any Person other than Collateral Agent. 
 I. Financial Statements and Information. Agent shall have received
(i) unaudited consolidated financial statements of CCL and CCP for the Fiscal Quarter ended September 30, 2014, (ii) unaudited consolidated financial statements of CCL and CCP for the Fiscal Year ended December 31, 2013 and
(iii) if the Closing Date occurs after February 28, 2015, unaudited consolidated financial statements of CCL and CCP for the Fiscal Year ended December 31, 2014 and for any other Fiscal Quarter ended at least 60 days prior to the
Closing Date. 
 J. Fees and Expenses. Agent, Collateral Agent and each Note Holder shall have received on the Closing Date
(including from proceeds of the Initial Notes) for their 

  
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respective accounts, all Fees and expenses due and payable hereunder or otherwise in connection with the Transactions on or before the Closing Date, including amounts invoiced through the Closing
Date and subject to reimbursement in accordance with subsection 12.2A. 
 K. Patriot Act. Agent and Collateral Agent
shall have received no later than three Business Days prior to the Closing Date with respect to the Issuer Parties copies of the documents listed on Schedule 4.1K that are required for Agent or any Note Purchaser to carry out applicable
“know your customer” and anti-money laundering rules and regulations, including the Patriot Act, to the extent not otherwise required to be provided pursuant to this subsection 4.1. 

L. Equity Contribution. 

(i) Agent shall have received a copy of the fully executed Equity Contribution Agreement, which shall contain no amendments or alterations to
the Form of Equity Contribution Agreement attached hereto as Exhibit H that are adverse to the interests of the Note Holders, other than any such changes as are approved by the Required Note Holders. 

(ii) Agent shall have received evidence that (a) Parent shall have on or prior to the Closing Date, contributed to Issuer an amount in
cash such that, together with the proceeds of the Initial Notes, Issuer will have sufficient cash, including the proceeds of the Initial Notes, to cause cash common equity capital contributions in an aggregate amount of not less than $1,800,000,000
(the “Equity Contribution”) to have been contributed to CCH or used for the payment of eligible Project Costs (as set forth in the CCH Senior Financing Documents) as of the Closing Date, and such Equity Contribution shall have been
contributed to CCH or used for the payment of eligible Project Costs as required by the CCH Senior Financing Documents and (b) CCH shall not have distributed to any Subject Company or to Parent or any of its Affiliates (other than to any
Project Entity) any development equity contributed by Parent or any of its Affiliates to CCH or any of its Subsidiaries on or prior to the Closing Date. 

M. Notices to Proceed. Agent shall have received certification (such certificate in form and substance reasonably satisfactory to
Agent) from Issuer that (i) CCL is prepared to issue the full “Notice to Proceed” (as defined in the EPC Contracts) under each EPC Contract, subject only to Issuer’s receipt of the proceeds from the Notes, the satisfaction or
waiver by lenders under the CCH Senior Financing of the conditions to the initial disbursement thereunder in accordance with subsection 4.1B and CCH’s receipt of the proceeds from the initial disbursement under the CCH Senior
Financing and (ii) the Facility Debt Commitments (as defined in the CCH Senior Financing Term Sheet) together with the proceeds of the Notes, the equity commitments under the Equity Contribution Agreement and projected contracted Cash Flow from
the fixed component under the Qualifying LNG SPAs will be sufficient to achieve the Project Completion Date by the Date Certain. 
 N.
Registration Rights Agreement. (a) The Note Holders shall have received a Registration Rights Agreement in the form of Exhibit C hereto (the “Registration Rights Agreement”), which (i) shall have been duly
authorized, executed and delivered by Parent and each other Person party thereto, and (ii) shall be in full force and effect and (b) no default or event of default shall have occurred and be continuing thereunder. 

  
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 O. Independent Director. Agent shall have received reasonably satisfactory evidence that
an independent member of the board of Issuer, who satisfies the requirements set forth in subsection 6.10B, shall have been appointed to the board of Issuer. 

P. Appointment of Process Agent. Agent and Collateral Agent shall have received reasonably satisfactory evidence that Issuer has
appointed a process agent in the State of New York. 
 Q. USRPHC Certificate. Agent shall have received a certificate in form and
substance reasonably satisfactory to Agent from each of Issuer and Parent duly executed by a Responsible Officer of such Person, certifying that each of Issuer and Parent is not a USRPHC. 

R. IRS Form 8832. Issuer shall have delivered to Agent a copy of a duly executed Internal Revenue Service Form 8832 (Entity
Classification Election) electing to treat Issuer as an association taxable as a corporation for U.S. federal tax purposes effective as of the Closing Date. 

S. EIG Indemnification Agreement. Parent, Issuer and EIG MC shall have entered into the EIG Indemnification Agreement in the form
attached hereto as Exhibit G. 
 T. CUSIP Number. An identification number issued by Standard & Poor’s
CUSIP Service Bureau shall have been obtained for the Notes. 
 U. Funding Instructions. At least fifteen (15) Business Days
prior to the Closing Date, each Note Purchaser shall have received written instructions signed by a Responsible Officer of Issuer on letterhead of Issuer providing the account information for the account, which shall be subject to an Account Control
Agreement, to which the purchase price of the Notes should be funded on the Closing Date: (a) the name and address of the transferee bank, (b) such transferee bank’s ABA number, and (c) the name and number of the account into
which the purchase price for the Notes is to be deposited. 
 V. Additional Matters. Agent and Collateral Agent shall have received
such other certificates, documents and instruments relating to the Transaction as may have been reasonably requested by Agent or Collateral Agent, as applicable, for Required Note Holders. 

4.2 General Principles 

All of the agreements, instruments, reports, opinions and other documents and papers referred to in subsection 4.1, unless
otherwise expressly specified, shall be delivered to Agent for the account of each Note Holder and, except for the Notes and to the extent reasonably requested by Agent, in sufficient counterparts or other originals for each Note Holder. 

 

	SECTION 5	REPRESENTATIONS AND WARRANTIES 

 In order to induce Note Purchasers to enter into this
Agreement and to purchase the Notes hereunder, Issuer makes the following representations and warranties on the date hereof and on the Closing Date (except to the extent such representation and warranty expressly relates to a specified date, in
which case such representation and warranty shall be only as of such date). 

  
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Any reference in any representation or warranty to a Transaction Document, Material Project Agreement or Permitted Senior Debt Document shall include only Transaction Documents, Material Project
Agreements and Permitted Senior Debt Documents that have been entered into on or prior to the date such representation or warranty is made or deemed made. 

5.1 Existence and Business 

Each Issuer Party (i) is a limited liability company, corporation or limited partnership duly organized or formed, validly existing and
in good standing under the laws of the jurisdiction of its organization or formation, (ii) is duly qualified and in good standing as a foreign company in each other jurisdiction in which it owns or leases property or in which the conduct of its
business requires it to so qualify or be licensed, except where the failure (either individually or in the aggregate) to so qualify or be licensed could not reasonably be expected to have a Material Adverse Effect and (iii) has all requisite
limited liability company, corporate or partnership power and authority to own or lease and operate its Properties and to carry on its business as now conducted and as proposed to be conducted. All of the outstanding Equity Interests in Issuer, CCH
Direct Parent and each Project Entity have been validly issued, are fully paid and non-assessable and are owned (x) in the case of Issuer, by Parent free and clear of all Liens other than Excepted Liens, (y) in the case of CCH Direct
Parent, by Issuer, free and clear of all Liens other than Excepted Liens, and (z) in the case of each Project Entity, by CCH Direct Parent or the applicable other Project Entity, free and clear of all Liens other than Liens created under the
Permitted Senior Debt Documents and other Liens permitted thereunder. 
 5.2 Organizational Matters and Equity Interests 

A. Set forth on Schedule 5.2 hereto is a complete and accurate list of all Issuer Parties, showing as of the date hereof the
jurisdiction of its incorporation, formation or existence, the address of its principal place of business and its U.S. taxpayer identification number. The copy of the Constituent Documents of each Note Document Party and each amendment thereto
provided pursuant to subsection 4.1D is a true and correct copy of each such document, each of which is valid and in full force and effect. 

B. There is no existing option, warrant, call, right, commitment or other agreement to which Issuer or any of its Subsidiaries is party
requiring, and there is no membership interest in or other Equity Interest in or other security or instrument of Issuer or any of its Subsidiaries outstanding which upon conversion or exchange would require, the issuance by Issuer or any of its
Subsidiaries of any additional membership interests or other Equity Interests in Issuer or such Subsidiary or other securities convertible into, exchangeable for or evidencing the right to subscribe for or purchase a membership interest or other
Equity Interest in Issuer or such Subsidiary. As of the Closing Date, (i) 100% of the Equity Interests in each of CCL and CCP are owned, beneficially and of record, by CCH, (ii) 100% of the Equity Interests in CCH are owned directly,
beneficially and of record, by CCH Direct Parent, (ii) 100% of the Equity Interests in CCH Direct Parent are owned directly, beneficially and of record, by Issuer, and (iii) 100% of the Equity Interests in Issuer are owned directly,
beneficially and of record, by Parent. 

  
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 5.3 Power and Authorization; No Violation 

The execution, delivery and performance by each Note Document Party of each Note Document to which it is or is to be a party, and the
consummation of the Transaction, are within such Note Document Party’s corporate or limited liability company (as applicable) powers, have been duly authorized by all necessary corporate or limited liability company (as applicable) action, and
do not (i) contravene in any material respect such Note Document Party’s charter, bylaws, limited liability company agreement or other Constituent Documents, (ii) violate any Requirements of Law (including Regulation X of the Board),
order, writ, judgment, injunction, decree, determination or award binding on or affecting such Note Document Party or any of its Properties or the Project which could, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect, (iii) conflict in any material respect with or result in the material breach of, or constitute a material default or require any payment to be made under, any material Contractual Obligations binding on or affecting such Note
Document Party or any of its Properties or any Project Entity (including any Permitted Senior Debt Documents) or (iv) except for the Liens created under the Note Documents or other Permitted Liens, result in or require the creation or
imposition of any Lien upon or with respect to (i) any of the Properties of any Subject Company, (ii) the Project or (iii) the Equity Interests in the Issuer owned by the Parent. No Issuer Party is in violation of any Requirements of
Law order, writ, judgment, injunction, decree, determination or award binding on or affecting such Person or in breach of any Contractual Obligation binding on or affecting such Person, the violation or breach of which could reasonably be expected
to have individually, or in the aggregate, a Material Adverse Effect. 
 5.4 Governmental Authorizations 

As of the Closing Date, no Governmental Authorization, and no notice to or filing with or consent of any Governmental Authority or any other
third party, is required for (i) the due execution, delivery, recordation, filing or performance by any Note Document Party of any Note Document to which it is or will be a party, (ii) the grant by any Note Document Party of the Liens
granted by it pursuant to the Security Documents or (iii) the perfection, priority or maintenance of the Liens created under the Security Documents, except for (A) those required in connection with the exercise by any Secured Party of its
rights under the Note Documents or the remedies in respect of the Collateral pursuant to the Security Documents, (B) those which have been duly obtained, taken, given or made or (C) those which, by their nature, are not required to have
been obtained, taken, given or made as of the Closing Date for the due and timely performance of the Note Obligations and such Governmental Authorizations not yet obtained are reasonably expected to be timely obtainable without undue or
disproportionate cost or delay prior to the time such Governmental Authorizations are required. 
 5.5 Enforceable Obligations

 This Agreement has been, and each other Note Document when delivered hereunder will have been, duly executed and delivered by each
Note Document Party that is a party hereto and thereto. Assuming due execution and delivery by the counterparties to the Note Document Parties that are parties to the Note Documents, this Agreement is, and each other Note Document when delivered
hereunder will be, the legal, valid and binding obligation of each Note Document Party that is a party hereto or thereto, enforceable against such Note Document Party in 

  
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accordance with its terms, except to the extent the enforceability thereof may be limited by (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or
other similar laws affecting creditors’ rights generally, (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii) implied covenants of good faith and
fair dealing. 
 5.6 Litigation 

There is no action, suit, litigation, proceeding, or to Issuer’s knowledge, investigation, by or against any Subject Company, any Project
Entity or the Project pending or, to Issuer’s knowledge, threatened, before any Governmental Authority or arbitrator that (i) as of the Closing Date, involves any Transaction Document or the Transaction or (ii) could reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect. 
 5.7 Financial Statements; Financial Condition,
Etc. 
 A. As of the Closing Date, the financial statements delivered pursuant to subsection 4.1I fairly present in
all material respects the financial condition of the relevant Subsidiaries of Issuer, in each case as at the dates thereof and for the periods ended on such dates, all in accordance with GAAP and, except to the extent disclosed in such financial
statements, applied on a consistent basis. 
 B. The obligations of Issuer under this Agreement, the Notes and the other Note
Documents to which it is a party rank and will rank pari passu or senior in priority of payment and in all other respects with all other present and future unsecured and unsubordinated debt of Issuer. 

5.8 No Material Adverse Effect 

Since November 10, 2014, no event or occurrence has occurred and is continuing which has resulted in, or could reasonably be expected to
result in, individually or in the aggregate, any Material Adverse Effect other than any change, development, event or occurrence that is not specific to, or does not disproportionately affect, the Issuer or its Subsidiaries and their respective
businesses. 
 5.9 True and Complete Disclosure 

A. All written information, exhibits and reports furnished or made available by, or on behalf of, any Issuer Party or representative of
any Issuer Party (other than financial projections, the construction budget, the construction schedule and any other forward-looking information (including the Base Case Forecast or any drafts or earlier versions thereof) and the market data study)
to Agent or any Note Purchaser in connection with the evaluation of the transactions contemplated hereunder, when taken as a whole, did not (and, to the extent provided after the date hereof, and will not), as of the date furnished and, taken
together with any supplemental information provided prior to the Closing Date, as of the Closing Date, contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein not materially
misleading in light of the circumstances under which such statements were (or will be) made. 

  
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 B. The financial projections (including the Base Case Forecast or any drafts or earlier
versions thereof), the market data study, construction budget, construction schedule and any other forward-looking information delivered or made available by or on behalf of any Issuer Party or any representative of any Issuer Party to the Agent or
any Note Purchaser in connection with the evaluation of the transactions contemplated hereunder on or prior to the Closing Date, as applicable, were (and, to the extent provided after the date hereof, and will be) prepared in good faith based upon
assumptions that are reasonable at the time made and at the time of delivery thereof and, except as otherwise notified to Agent, at the Closing Date; provided that with respect to any such information, it is agreed and understood that
(i) such information (A) is based upon a number of estimates and is subject to significant business, economic and competitive uncertainties and contingencies and (B) is as to future events and not to be viewed as facts,
(ii) whether or not the results or other projections described therein are achieved will depend on future events, many of which are not within the control of the Issuer Parties and (iii) the actual results or other projections during the
period or periods covered by such information may differ from the projected results and other projections and such differences may be material and, accordingly, no assurances are given and no representations are made that any of the estimates or
assumptions set forth in such information are correct, that the results or other projections set forth in such information will be achieved or that the forward-looking statements expressed in such information will correspond to actual results. 

C. Without limiting the generality of the foregoing, no representation or warranty is or shall be made as to any information or
material provided by a consultant or other adviser to Agent, Note Holders or any of their Affiliates (except to the extent such information or material originated with an Issuer Party). 

5.10 Margin Stock 

No Subject Company or Project Entity is engaged in the business of extending credit for the purpose of purchasing or carrying Margin Stock,
and the proceeds of the Notes will not be used to (i) purchase or carry any Margin Stock or to extend credit to others for the purpose of purchasing or carrying any Margin Stock or (ii) for any purpose that entails a violation of, or that
is inconsistent with, the provisions of the regulations of the Board, including Regulation U or Regulation X. 
 5.11
Investment Company Act 
 None of Parent, Issuer or CCH Direct Parent is an “investment company” as such term is
defined in the Investment Company Act of 1940. 
 5.12 Patriot Act, Etc. 

A. None of the Subject Companies, nor any of their Affiliates, nor, to the knowledge of Issuer, any of their respective directors,
officers or employees, is (i) the target of sanctions under OFAC Laws or by the United States Department of State, the European Union or Her Majesty’s Treasury, to the extent applicable, (ii) an organization owned or controlled by a
Person, entity or country that is the target of sanctions under OFAC Laws or by the US Department of State, the European Union or Her Majesty’s Treasury, to the extent applicable, or 

  
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(iii) a Person located, organized or resident in a country or territory that is, or whose government is, the target of sanctions under OFAC Laws or by the US Department of State, the
European Union or Her Majesty’s Treasury, to the extent applicable. The use of the proceeds of the Notes will not violate any Applicable Anti-Corruption Laws, Anti-Terrorism and Money Laundering Laws or OFAC Laws (to the extent applicable).

 B. None of the Subject Companies, nor any of their Affiliates, nor to the knowledge of Issuer, any of their respective directors,
officers, agents, employees or other persons acting on behalf of them, is aware of or has taken any action, directly or indirectly, that would result in a violation by such entity of the Applicable Anti-Corruption Laws, Anti-Terrorism and Money
Laundering Laws or OFAC Laws applicable to such Person, and the Subject Companies have instituted and maintain policies and procedures designed to ensure continued compliance therewith in all material respects. 

5.13 Collateral 

A. As of the Closing Date, upon making of the filings and taking of the other actions set forth on Schedule 5.13, all
filings and other actions necessary to perfect the security interests in the Collateral created under the Security Documents shall have been duly made or taken. As of the Closing Date, each Note Document Party has properly delivered or caused to be
delivered to Collateral Agent all Collateral that requires perfection of the Liens and security interests described above by possession. 

B. As of the Closing Date, the Security Documents create in favor of Collateral Agent for the benefit of the Secured Parties a valid
and, upon making of the filings and taking of the other actions set forth on Schedule 5.13, perfected first priority security interest (subject to Excepted Liens) in the Collateral, securing the payment of the Note Obligations. 

C. Each of Issuer and Parent is the legal and beneficial owner of the Collateral to be pledged by it free and clear of any Lien, other
than Excepted Liens. 
 5.14 Solvency 

Each Subject Company is Solvent. 

5.15 Taxes 

A. Issuer and each of its Subsidiaries has timely filed, or caused to be timely filed, all federal and other material Tax returns and
reports required to have been filed by or with respect to it. All such Tax returns and reports are true, correct and complete in all material respects. Issuer and each of its Subsidiaries has paid or caused to be paid all material Taxes it is
required to pay or that are required to be paid on behalf of it to the extent due (other than any such Tax the payment of which is not yet due, giving effect to any applicable extensions, or which is being contested in good faith). There is no
material Tax audit, investigation or assessment against Issuer or any of its Subsidiaries that is proposed in writing or currently being conducted or, to such Person’s knowledge, threatened. 

  
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 B. Neither Issuer nor any of Issuer’s Subsidiaries has a material liability for the
Taxes of any Person (other than a Subject Company or Project Entity or a member of an affiliated group of which Parent is the common parent) (A) under Treasury Regulations Section 1.1502-6 (or any similar provision of state, local or
foreign law), (B) as a transferee or successor or (C) by contract (other than its Constituent Documents, the Note Documents, any Permitted Senior Debt Documents and any documents relating to any leases entered into in accordance with the
Senior Debt and the Material Project Agreements). 
 C. Issuer does not intend to treat the issuance of any Note as being a
“reportable transaction” (within the meaning of Treasury Regulation Section 1.6011-4). 
 D. No material Tax Liens
have been filed with respect to the assets of Issuer or any of its Subsidiaries. 
 5.16 Investments 

No Subject Company has any Investments other than Investments that, from and after the Closing, would be permitted by subsection 7.7.

 5.17 Title, Etc. 

A. Each Subject Company has good, legal and valid title or otherwise has the right to use all material Property, tangible or
intangible, which is then-used in the day to day operations of the business of such Subject Company and which is then-necessary to conduct the business of such Subject Company in accordance in all material respects with applicable Requirements of
Law and Governmental Authorizations and under the Transaction Documents. 
 B. As of the Closing Date, no Issuer Party has received
any notice of nor has any knowledge of (A) any pending or contemplated Event of Eminent Domain or (B) any existing or threatened change in the zoning classification in respect of the Project site, that could reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect. Neither the business nor the Properties of any Issuer Party are subject to or affected by any strike, lockout or any labor dispute which could reasonably be expected to have a Material
Adverse Effect. 
 5.18 Accounts 

Issuer’s deposit or securities account into which CCH Direct Parent will deposit all distributions received from CCH is subject to an
Account Control Agreement. 
 5.19 Environmental Matters  

Except as set forth on Schedule 5.19, to the knowledge of the Issuer (a) there have been no environmental incidents,
including past Releases of Hazardous Materials, by a Subject Company, a Project Entity or the Project that would reasonably be expected to give rise to any Environmental Claims, or cause the Properties of the Subject Companies or the Project
Entities to be subject to any restrictions on ownership, occupancy, use or transferability under any Environmental Law; (b) no Subject Company or Project Entity is the subject of any pending 

  
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inquiry or investigation by a Governmental Authority involving any Release or threatened Release of Hazardous Materials relating to the Properties of the Subject Companies or the Project Entities
or other location to which the Project Entities have transported, or arranged for the transportation of, any Hazardous Materials with respect to the Properties of the Subject Companies or the Project Entities; and (c) there is no Environmental
Claim now pending or threatened against any Subject Company, any Project Entity or the Project, that in each case of clauses (a), (b) and (c) would, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. Notwithstanding any other representation and warranty set forth herein, the representations and warranties made by Issuer set forth in this subsection 5.19 shall be the only representations and warranties with respect
to Environmental Claims, Releases of Hazardous Materials or matters related thereto. 
 5.20 No Default  

No Default or Event of Default has occurred and is continuing or will result from the consummation of the Transaction. 

5.21 Employee Matters 

A. No Subject Company has, or at any time has had, any employees. 

B. Except as could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, no Subject Company
or ERISA Affiliate has (i) any liability relating to or any obligation to make contributions to any “pension plan” (as defined in Section 3(2) of ERISA) or (ii) any liability under, or by operation of, Title IV of ERISA,
including, but not limited to, any liability in connection with the termination or reorganization of an “employee benefit plan” (as defined in Section 3(3) of ERISA) subject to Title IV of ERISA or the withdrawal from a multiemployer
plan as defined in Section 4001(a)(3) of ERISA. 
 5.22 Sole Purpose Nature; Business; Separateness 

A. No Subject Company conducts any business other than the business contemplated by the Transaction Documents. No Project Entity
conducts any business other than activities in respect of a Permitted Business. 
 B. No Subject Company or Project Entity is a
general partner or a limited partner in any general or limited partnership, a joint venturer in any joint venture or a member of any limited liability company, except that (i) Issuer is the sole member of CCH Direct Parent, (ii) CCH Direct
Parent is the sole member of CCH, (iii) CCH is the sole member of each of CCL and Corpus Christi Pipeline GP, LLC and (iv) CCH and Corpus Christi Pipeline GP, LLC are the sole partners of Cheniere Corpus Christi Pipeline, L.P. 

C. Issuer’s only material asset is the Equity Interests of CCH Direct Parent and, as of the Closing Date and prior to contribution
to CCH Direct Parent, the proceeds of the issuance of the Notes. CCH Direct Parent’s only material asset is the Equity Interests of CCH and, as of the Closing Date and prior to contribution to CCH, the proceeds of the issuance of the Notes
contributed to CCH Direct Parent by the Issuer. 

  
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 D. CCL and Cheniere Corpus Christi Pipeline, L.P. have no subsidiaries. 

E. Each Issuer Party maintains separate bank accounts (to the extent such Person maintains any bank accounts) and separate books of
account from each other Issuer Party and all other Persons. The separate liabilities of the Subject Companies are readily distinguishable from the liabilities of Parent and the Project Entities; provided that neither the conversion
contemplated by Section 9 nor any other provision of any Note Document shall be deemed to breach this subsection 5.22E. 

F. Each Issuer Party conducts its business solely in its own name in a manner not misleading to other Persons as to its identity. 

G. Except to the extent that the obligations of any Note Document Party under any Note Document may be construed as a guarantee, no
Note Document Party or Project Entity guarantees any of the obligations of Issuer. 
 5.23 Private Offering by Issuer 

Neither Issuer nor anyone acting on its behalf has offered the Notes or any similar securities for sale to, or solicited any offer to buy the
Notes or any similar securities from, or otherwise approached or negotiated in respect thereof with, any Person other than Agent and the Note Purchasers. Other than in connection with the Registration Rights Agreement, neither Issuer nor anyone
acting on its behalf has taken, or will take, any action that would subject the issuance or sale of the Notes to the registration requirements of section 5 of the Securities Act or to the registration requirements of any securities or blue sky
laws of any applicable jurisdiction. 
  

	SECTION 6	AFFIRMATIVE COVENANTS 

 Issuer covenants and agrees that on and after with respect to
subsection 6.7, the date hereof, and with respect to other subsections of this Section 6, the Closing Date until the Discharge Date, unless waived in accordance with the terms hereof, Issuer shall, and shall cause CCH Direct
Parent to: 
 6.1 Compliance with Laws, Etc. 

Comply with such Subject Company’s Constituent Documents and all Requirements of Law, except to the extent any failure to comply with any
such Subject Company’s Constituent Documents or Requirements of Law would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

6.2 Payment of Taxes, Payment of Obligations 

A. Pay and discharge all material Taxes, claims or liabilities imposed upon it or upon its property before the same shall become
delinquent, provided, however, that no Subject Company shall be required to pay or discharge any such Tax, claim or liability that is subject to Contest, unless and until any Lien resulting therefrom attaches to its property and
becomes enforceable against its other creditors. 

  
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 B. Pay and discharge all lawful payment obligations under its Contractual Obligations
except (i) where the same is not more than 90 days past due unless and to the extent the failure to pay or discharge such obligation within such 90 day period could reasonably be expected to have a Material Adverse Effect,
(ii) where the same is subject to Contest, or (iii) otherwise to the extent the failure to pay or discharge such payment obligations would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 6.3 Preservation of Corporate Existence, Etc. 

A. Preserve and maintain its existence. 

B. Provide Agent with at least 30 days’ prior notice of any change, alteration or other modification to its legal business
name or jurisdiction of organization or type of organization. 
 C. Preserve and maintain (a) all material rights (charter and
statutory), privileges, franchises, licenses and permits necessary or desirable in the conduct of its business, except to the extent that the failure to preserve and maintain in full force and effect such rights, privileges, franchises, licenses and
permits would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and (b) with respect to CCH Direct Parent and each of its subsidiaries, status as a partnership or entity disregarded for Tax
purposes. 
 6.4 Visitation Rights, Etc. 

A. Upon reasonable prior notice delivered by Agent and during normal business hours, concurrently make available to Agent, any of the
Note Holders accompanying the Agent, or any of their respective agents or representatives thereof accompanying the Agent, copies or extracts of the records and books of the Subject Companies make available such Person’s managers and officers to
discuss such Person’s affairs, finances and accounts with Agent, any of the Note Holders and any agents or representatives thereof; provided that prior to the occurrence and during the continuance of an Event of Default in no event shall
there be more than two requests (which shall be reasonably spaced within the applicable period) per calendar year. 
 B. Cooperate
with, and cause the Project Entities to cooperate with, the reasonable requests of Agent and the Independent Engineer, including permitting site visits to the Project by the Agent and the Independent Engineer upon reasonable prior notice by the
Agent and during normal business hours in a manner that does not unreasonably disrupt the construction or operation of the Project in any respect and subject to satisfactory confidentiality arrangements and reasonable safety arrangements as
reasonably determined by the Project Entities and, as reasonably requested by Agent and the Independent Engineer, otherwise make officers and representatives of the Issuer Parties available for consultation with the Agent and the Independent
Engineer in connection with the Independent Engineer’s review of information with respect to the Project. 
 C. At the written
request of Agent, and not more than once during each calendar quarter, participate in a telephonic meeting of Agent and Note Holders to be held at 

  
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such time as may be agreed to by Issuer and Agent, provided that no such telephonic meeting is required during any calendar quarter where Agent has requested a discussion with the managers
and officers of Issuer or CCH Direct Parent pursuant to subsection 6.4A. 
 6.5 Keeping of Books 

Keep proper books of record and account, in which full, true and correct entries shall be made of all financial transactions and the assets
and business of the Subject Companies in accordance with GAAP. 
 6.6 Maintenance of Properties, Etc. 

A. Maintain, preserve and protect (and, as necessary, repair) all of its material Properties that are used or useful in the conduct of
the business of the Subject Companies in good working order and condition, ordinary wear and tear excepted, unless the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 

B. Except as otherwise permitted pursuant to subsection 7.6, in the case of Issuer, directly own, at all times, 100% of the
outstanding Equity Interests of CCH Direct Parent, and, in the case of CCH Direct Parent, directly own, at all times, 100% of the outstanding Equity Interests of CCH. 

C. Except as otherwise permitted pursuant to subsection 7.6, maintain good and valid interests in all of its material
Properties, subject only to Permitted Liens. 
 6.7 Further Assurances; Grant of Security 

A. Promptly upon request by Agent, Collateral Agent, or any Note Holder (acting through Agent), correct, and cause any other applicable
Note Document Party to correct, any defect or error that may be discovered in any Note Document or in the execution, acknowledgment, filing or recordation thereof. 

B. Promptly upon request by Agent, Collateral Agent, or any Note Holder (acting through Agent), do, execute, acknowledge, deliver,
record, re-record, file, re-file, register and re-register any and all such further acts, conveyances, pledge agreements, assignments, financing statements and continuations thereof, termination statements, certificates, assurances and other
instruments and take such other actions as Agent, Collateral Agent or any Note Holder (acting through Agent), may reasonably require from time to time in order to (i) carry out more effectively the purposes of the Note Documents,
(ii) perfect and maintain the validity, effectiveness and priority of any of the Security Documents and any of the Liens intended to be created thereunder and (iii) assure, convey, grant, assign, transfer, preserve, protect and confirm
more effectively unto the Secured Parties the rights granted or now or hereafter intended to be granted to the Secured Parties under any Note Document or under any other instrument executed in connection with any Note Document to which any Note
Document Party is or is to be a party. 
 C. To secure the timely payment in full in cash and performance of the Note Obligations,
pledge and assign (by way of security) to Collateral Agent (for the benefit of Agent 

  
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and the other Secured Parties), and grants to Collateral Agent (for the benefit of Agent and the other Secured Parties), a security interest in, each of the following, whether now owned or
hereafter acquired: the account of Issuer into which distributions from CCH Direct Parent will be deposited, all funds or other assets from time to time deposited therein, any financial assets, security entitlements or investment property at any
time credited thereto, and all proceeds thereof (collectively, the “Account Collateral”). If an Event of Default has occurred and is continuing, then Agent, in addition to any rights now or hereafter existing under applicable
Requirements of Law may, personally or by agent, at such time or times as Agent in its discretion may determine, exercise against Issuer and the Account Collateral all of the rights and remedies granted to secured parties under the Uniform
Commercial Code and any other applicable statute, or otherwise available to Agent by contract, at law or in equity (including sending a “notice of exclusive control” or similar notice under any Account Control Agreement). 

6.8 Distributions from CCH Direct Parent 

Cause CCH Direct Parent to distribute the proceeds of all distributions received by CCH Direct Parent from CCH or its Subsidiaries to Issuer
promptly upon receipt thereof. 
 6.9 D&O Insurance  

Maintain in full force and effect, with financially sound and responsible insurance companies, directors’ and officers’ liability
insurance, and cause CCH to maintain such insurance in respect of its officers and directors, which Issuer believes is (in the good faith judgment of management of Issuer) in such amounts and covering such risks as is reasonable and prudent in light
of the size and nature of its business or CCH’s business, as applicable; provided that such insurance may be maintained by the Parent so long as such insurance provides coverage for the Subject Companies and CCH. 

6.10 Separateness Provisions 

A. Take all reasonable steps to continue its identity as a separate legal entity and to make it apparent to third Persons that it is an
entity with assets and liabilities distinct from those of its Affiliates (other than another Subject Company) or any other Person, and that such Person is not a division of any of its Affiliates (other than another Subject Company) or any other
Person; provided that no such requirements shall be applicable as among CCH and its Subsidiaries; provided, further, that neither the conversion contemplated by Section 9 nor any other provision of any Note Document
shall be deemed to breach this subsection 6.10A. Without limiting the foregoing, except as expressly contemplated under or pursuant to the Note Documents or among the Subject Companies, cause each Subject Company to (a) maintain its
assets in a manner which facilitates their identification and segregation from those of such Subject Company’s Affiliates, (b) not permit the commingling or pooling of its funds or other assets with the assets of any of its Affiliates,
(c) maintain separate deposit and other bank accounts to which none of its Affiliates has any access, (d) maintain financial records which are separate from those of its Affiliates, (e) maintain adequate capitalization in light of its
business and purpose, (f) conduct all of its business (whether in writing or orally) solely in its own name through its duly authorized officers, employees and agents, (g) not hold itself out as being liable for the debts of another and
not guarantee the debts of another, except as permitted by the Note 

  
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Documents and not cause or permit any of its Subsidiaries to guaranty or hold itself out as being liable for the debts of the Subject Companies and (h) otherwise practice and adhere, and
cause each of its Subsidiaries to practice and adhere, in all material respects to corporate formalities, such as complying with such Person’s Constituent Documents and resolutions and maintaining complete and correct books and records. 

B. In the case of Issuer, at all times maintain at least one independent member of the board of Issuer who shall have the right to vote
with respect to the commencement of proceedings under any Bankruptcy Law to adjudicate the Issuer a bankrupt or insolvent, or seeking liquidation, winding-up or other reorganization, and no other voting rights, and who, for the five-year period
prior to his or her appointment as an independent member of the board of Issuer, has not been, and during the continuation of his or her service as an independent member of the board of Issuer is not: (a) an employee, director, stockholder,
partner, membership interest holder or officer of Issuer or any of its Affiliates (other than his or her service as an independent member of the board of Issuer or similar capacity of Issuer or any of its Affiliates); (b) a customer or supplier
of Issuer or any of its Affiliates (other than an independent member of the board of Issuer provided by a corporate services company that provides independent members of boards in the ordinary course of its business); or (c) any member of the
immediate family of a Person described in clause (b) above; provided, that in the event of any death, disability, incapacity or resignation of such independent member of the board of Issuer, Issuer shall have such period as is
reasonably necessary, not to exceed 10 Business Days, to select a replacement independent board member; provided further that during any period from the death, disability, incapacity or resignation of the independent board member and
until such replacement independent board member is selected, Issuer shall not take any action that requires a vote of the independent member of the board pursuant to this subsection 6.10B or the Issuer’s Constituent Documents. 

6.11 Delivery of Information Required Under Foreign Assets Control Regulations, Patriot Act, Foreign Corrupt Practices Act 

Promptly after receipt of written request therefor from Agent or any Note Holder, each of the Subject Companies shall provide Agent with all
information reasonably required by Agent or such Note Holder to comply with the Patriot Act, any foreign assets control regulations of the United States Treasury Department and the Foreign Corrupt Practices Act. 

6.12 CCH Board Observer Rights 

A. For so long as the Note Holders collectively own Notes in an aggregate principal amount of at least $500,000,000, EIG MC shall be
entitled to appoint one observer (the “Note Holder Observer”) to the board of directors or managers of CCH (the “CCH Board”), who shall be entitled to attend meetings of the CCH Board in a non-voting, observer
capacity. Issuer shall cause CCH to provide notice to the Note Holder Observer of any and all meetings of the CCH Board and copies of all materials provided to the members of the CCH Board in their capacity as members of the CCH Board concurrently
with and in substantially the same manner as such notices and materials are provided to members of the CCH Board. The CCH Board will be entitled to exclude the Note Holder Observer from portions of meetings or omit to provide the Note Holder
Observer with certain materials if (a) the CCH Board concludes in good faith that 

  
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such exclusion or omission is necessary or appropriate (i) to preserve any attorney-client privilege or (ii) to comply with contractual obligations to third parties or regulatory
limitations, or (b) the CCH Board intends to consider or distribute any materials with respect to a matter in which the Note Holder Observer has an actual or potential conflict of interest; provided that to the extent the CCH Board takes
any of the actions described in clause (a) or (b) of this subsection 6.12A, Issuer shall cause the CCH Board, to the extent reasonably practicable, to make reasonable and appropriate substitute disclosure arrangements,
including providing redacted versions of applicable materials and executing a joint defense agreement or other similar arrangements. The Note Holder Observer shall initially be Wallace Henderson. EIG MC may change the identity of the Note Holder
Observer at any time upon prior notice to Issuer. 
 B. Each Note Holder Observer, prior to attending any meetings of the CCH Board
or receiving any materials therewith, will be required to sign a confidentiality agreement in which such Note Holder Observer acknowledges that he or she (i) may in the course of participating in or preparing for such board meetings receive
material non-public information with respect to the Parent and its Affiliates and that the receipt of material non-public information may limit such Note Holder Observer’s ability to transact in the securities of the Parent and its Affiliates,
(ii) will be subject to the same trading policies and black-out periods to which members of the CCH Board are subject and (iii) will treat all confidential information received at or preparing for such meetings in accordance with the
provisions of subsection 12.22. 
 6.13 Tax Matters; USRPHC Status and Reporting 

A. Parent and Issuer shall duly file, within 10 Business Days, after the Closing Date Internal Revenue Service Form 8832 (Entity
Classification Election) electing to treat Issuer as an association taxable as a corporation for U.S. federal tax purposes effective as of the Closing Date. Parent and Issuer shall promptly provide to Agent a copy of the acceptance letter that is
received from the Internal Revenue Service with respect to such Form 8832. 
 B. Issuer agrees to promptly notify Agent and the Note
Holders, in accordance with subsection 8.6D, if Parent or Issuer determines that either Parent or Issuer is a USRPHC. 
 C.
Unless Issuer has provided the Note Holders with notice pursuant to subsection 8.6D that Issuer is a USRPHC, Issuer shall perform a quarterly analysis of its USRPHC status and provide (i) on a quarterly basis and, if requested by
Agent or any of its Affiliates, on any date of a disposition of a Note, the Note Holders with a duly signed certificate which certifies that Issuer is not a USRPHC, and therefore equity interests in Issuer are not United States real property
interests within the meaning of Section 897(c)(1) of the Code, in a form reasonably satisfactory to Agent, and (ii) EIG MC and any of its Affiliates with the underlying analyses, valuations and work papers related to such determination.

  
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	SECTION 7	NEGATIVE COVENANTS 

 Issuer covenants and agrees that on and after the date hereof until
the Discharge Date, unless waived in accordance with the terms hereof, Issuer and CCH Direct Parent shall not (and, to the extent specifically indicated in subsections 7.3, 7.4B, 7.5, and 7.6C, shall not permit the
Project Entities to), at any time: 
 7.1 Liens, Etc. 

Create, incur, assume or suffer to exist any Lien on or with respect to any of its Properties of any character whether now owned or hereafter
acquired, or sign or file, under the Uniform Commercial Code of any jurisdiction, a financing statement that names any Subject Company as debtor, or sign or suffer to exist any security agreement authorizing any secured party thereunder to file such
financing statement, or assign any accounts or other right to receive income, except, in the case of Collateral, Excepted Liens and, in the case of any other Properties, Permitted Liens. 

7.2 Debt 
 Create,
incur, assume or suffer to exist any Debt, except: 
 A. Debt of the Subject Companies under this Agreement and the other Note
Documents. 
 B. Trade or other similar indebtedness incurred in the ordinary course of business (but not for borrowed money) and not
to exceed $1,000,000 or to be more than 90 days past due. 
 C. Contingent liabilities permitted pursuant to subsection
7.12. 
 D. To the extent constituting Debt, Debt arising from the honoring by a bank or other financial institution of a check,
draft or similar instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business; provided that such Debt is extinguished within 10 Business Days of its
incurrence. 
 7.3 Prepayments of Debt; Modification of Permitted Senior Debt Documents 

A. Refinance, or permit CCH or any of its Subsidiaries to refinance, the CCH Senior Financing or any other Permitted Senior Debt other
than in accordance with the terms thereof and the terms of any other Permitted Senior Debt then outstanding, as applicable. 
 B.
Without the consent of the Required Note Holders, directly or indirectly, including through CCH or its Subsidiaries, amend, supplement, waive, modify or terminate or consent to the amendment, supplement, waiver, modification or termination of any
provision of any Permitted Senior Debt Document that would constitute a Fundamental Amendment. 
 7.4 Nature of Business 

A. Directly conduct, transact or otherwise engage in, or commit to conduct, transact or otherwise engage in, any business or operations
or other activity other than those related to its ownership of the Equity Interests in CCH Direct Parent (in the case of Issuer) or 

  
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CCH (in the case of CCH Direct Parent) and the performance of its Obligations under the Note Documents and, with respect to CCH Direct Parent, the pledge of its interests in CCH in favor of the
lenders under the CCH Senior Financing or any other Permitted Senior Debt to which it is a party, including activities associated with the making of capital contributions to CCH Direct Parent and CCH, as applicable, to the extent permitted hereby.

 B. Cause or permit any Project Entity to engage in any business or activities other than those in respect of a Permitted Business.

 7.5 Mergers, Etc. 

A. Merge into or consolidate with any Person or permit any Person to merge into it or permit any Project Entity to merge into or
consolidate with any Person (other than another Project Entity) or permit any Person (other than any Project Entity) to merge into any Project Entity. 

B. Liquidate, wind up or dissolve (or suffer any liquidation or dissolution) or discontinue its business or permit any Project Entity
to liquidate, wind up or dissolve (or suffer any liquidation or dissolution) or discontinue its business; provided that Corpus Christi Pipeline GP, LLC may liquidate itself into or enter into any merger with or sell or otherwise transfer all
or substantially all its assets to another Project Entity. 
 C. Conduct any initial public offering of interests in any Subject
Company. 
 7.6 Sales, Etc. of Assets 

A. Sell, lease, transfer or otherwise dispose of any Equity Interests in (i) with respect to Issuer, CCH Direct Parent and
(ii) with respect to CCH Direct Parent, CCH, or permit any sale, lease, transfer or other disposition of any Equity Interests of any Project Entity; provided that an initial public offering of any Project Entity may be effected in
accordance with the requirements set forth in subsection 3.3B(iv); provided, further, that CCH or CCH Direct Parent may be contributed or sold to CQP so long as (x) the only consideration that CCH Direct Parent (in the case
of a contribution or sale involving CCH) or Issuer (in the case of a contribution or sale involving CCH Direct Parent) shall receive in connection with such contribution or sale shall be cash and/or securities of CQP, (y) before any cash
received by Issuer or CCH Direct Parent in connection therewith may be distributed to Parent or for any purpose other than as permitted pursuant to subsection 7.8B, Issuer shall offer to redeem any then-outstanding Notes together with accrued
and unpaid interest thereon, to, but excluding, the date of prepayment, and the Yield Maintenance Amount with respect thereto (it being agreed that the cash received in connection with such sale may instead be maintained at Issuer or CCH Direct
Parent, as applicable, or invested in any of the Project Entities) and (z) at the time of such contribution or sale of CCH or CCH Direct Parent to CQP, Issuer shall deliver to Agent and the Note Holders a fairness opinion with respect to the
consideration to be received by CCH Direct Parent (in the case of a contribution or sale involving CCH) or Issuer (in the case of a contribution or sale involving CCH Direct Parent) issued by an Independent Financial Expert. 

  
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 B. Except as otherwise permitted pursuant to subsection 7.6A, sell, lease, transfer
or otherwise dispose of all or substantially all of such Subject Company’s Property. 
 C. Permit any Project Entity to sell,
lease, transfer or otherwise dispose of, or grant any option or other right to purchase, lease or otherwise dispose of, all or substantially all of the Property of any Project Entity. 

7.7 Investments in Other Persons 

Make or hold any Investment in any Person, except: 

A. Investments in Cash or Cash Equivalents and Permitted Investments; 

B. Parent may make contributions to capital of Issuer and (i) Issuer may make contributions to capital of CCH Direct Parent, and
(ii) CCH Direct Parent may contribute amounts received from Issuer to CCH as Equity Funding; and 
 C. Without limiting
subsection 7.7B, Issuer may make contributions to capital of CCH Direct Parent in cash (and CCH Direct Parent may contribute like amounts to CCH as Equity Funding) (x) in an amount not to exceed that portion of the proceeds of the
Initial Notes which are to be used to fund a portion of the Project Costs, for application by CCH or its Subsidiaries to fund a portion of the Project Costs, as such Project Costs are incurred from time to time and (y) in an amount not to
exceed the Funded Amount with respect to any Additional Notes, for application by CCH or its Subsidiaries to cure the applicable default or event of default under the Permitted Senior Debt Documents or the Material Project Agreement or other
agreement or contract that gave rise to the issuance of such Additional Notes. 
 7.8 Restricted Payments 

Directly or indirectly, make any Restricted Payment; provided that: 

A. CCH Direct Parent shall distribute all of its funds to Issuer in accordance with subsection 6.8. 

B. Issuer may make distributions for any taxable period for which Issuer and any of its Subsidiaries are members of a consolidated,
combined, unitary, affiliated or similar income tax group of which Parent is the common parent in an amount equal to the portion of any income Taxes for such taxable period that is attributable to Issuer and its Subsidiaries; provided that
(i) distributions under this subsection 7.8B for any taxable period shall not exceed the amount of such Taxes that Issuer and/or such Subsidiaries, as applicable, would have paid had Issuer and/or such Subsidiaries, as applicable, been a
stand-alone taxpayer (or a stand-alone group), determined at the highest combined U.S. federal and State of Texas Tax rate applicable to an entity taxable as a corporation in both jurisdictions for the applicable period and, for the avoidance of
doubt, assuming any net operating losses or other loss carryforwards or other tax attributes of the Issuer and its Subsidiaries are not utilized by any other member of such tax group (other than the Issuer and its Subsidiaries) and (ii) any tax
refunds received by Parent (whether by way of actual receipt, credit, set-off or otherwise) in respect of Taxes paid by Issuer to Parent pursuant to this subsection 7.8B shall promptly be returned by Parent to Issuer or shall be utilized by
Parent to reduce any Taxes that otherwise would be payable by Parent with respect to the income, assets and operations of Issuer and its Subsidiaries. 

  
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 C. Issuer may make any distributions to Parent upon satisfaction of the Distribution
Conditions. Prior to the making of any Restricted Payment pursuant to this subsection 7.8C, Issuer shall have delivered to Agent a certificate executed by a Responsible Officer of Issuer, confirming compliance with the Distribution
Conditions, and containing the calculations (in reasonable detail) required by clause (iii) of the definition of Distribution Conditions. 

D. Issuer may make distributions of any proceeds received from CCH Direct Parent as a result of any (a) Casualty Event or Event of
Eminent Domain to the extent such proceeds were received in respect of any repayment or reimbursement of any Equity Funding (other than Proceeds of the Initial Notes or Additional Notes) contributed to, or amounts paid on behalf of, the affected
Project Entity for purposes of commencing any repair or replacement of such Project Entity’s Properties or (b) Liquidated Damages to the extent such proceeds were received in respect of any repayment or reimbursement of any Equity Funding
(other than Proceeds of the Initial Notes or Additional Notes) to the extent such funding was used to complete, repair, refurbish or improve the Project. 

7.9 Transactions with Affiliates 

Conduct any transactions otherwise permitted under the Note Documents with any of its Affiliates other than (a) on terms that are fair
and reasonable and no less favorable to the applicable Subject Company than it would obtain in a comparable arm’s length transaction with a Person not an Affiliate, (b) any transaction for which there is no comparable transaction with a
Person that is not an Affiliate that the Required Note Holders determine is fair and reasonable to such Subject Company or with respect to which such subject Company delivers to Agent and the Note Holders a fairness opinion issued by an Independent
Financial Expert, (c) any payments made pursuant to subsection 7.7 or 7.8, (d) in connection with any transaction permitted or contemplated by subsection 2.3, 7.6A, 7.7 or 10.3,
(e) indemnities or similar arrangements provided for the benefit of any Subject Company’s directors or managers, whether pursuant to such Subject Company’s Constituent Documents or otherwise or (f) to the extent required by
Requirements of Law. 
 7.10 Amendments of Constituent Documents 

Amend its Constituent Documents, other than amendments that (a) could not be reasonably expected to have, individually or in the
aggregate, a Material Adverse Effect or (b) are not in any material respect adverse to the interests of the Secured Parties or any Note Document Party’s ability to comply with the Note Documents. 

7.11 Partnerships, Formation of Subsidiaries, Etc. 

A. Become a general partner in any general or limited partnership or joint venture or a member in any limited liability company. 

B. Organize or own any Subsidiary that is owned directly by Issuer or CCH Direct Parent other than those in existence on the Closing
Date. 

  
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 7.12 Contingent Liabilities 

Become liable under any Contractual Obligation as a surety or accommodation endorser for or upon the obligation of any other Person,
(a) except the endorsement of negotiable instruments received in the normal course of its business, (b) indemnities provided under the Transaction Documents, and (c) Permitted Debt of such Person (provided that, for the
avoidance of doubt, this clause (c) shall not permit any Subject Company to guarantee any Obligations or Permitted Debt of any other Person unless such guarantee is expressly permitted by subsection 7.2). 

7.13 Employees 

Have any employees. 
 7.14
ERISA Plans 
 Except as would not be expected to have, individually or in the aggregate, a Material Adverse Effect, take any
action to cause either Subject Company to (a) incur any liability relating to, or incur any obligation to make contributions to, any “pension plan” (as defined in Section 3(2) of ERISA) or (b) incur any liability under or by
operation of Title IV of ERISA, including, but not limited to, any liability in connection with the termination or reorganization of an “employee benefit plan” (as defined in Section 3(3) of ERISA) subject to Title IV of ERISA or the
withdrawal from a “multiemployer plan” (as defined in Section 4001(a)(3) of ERISA). 
 7.15 Tax Treatment of Issuer

 Take any action that causes Issuer to be treated as other than an association taxable as a corporation for U.S. federal tax purposes
on or after the Closing Date. 
 7.16 Accounts 

In the case of Issuer, deposit any funds that are distributed from CCH Direct Parent into any account that is not subject to an Account
Control Agreement. 
 7.17 Additional Notes 

Issue any additional Notes other than (i) in connection with the payment of interest in kind in accordance with
subsection 3.2B(iii) and/or (ii) Additional Notes issued pursuant to subsection 10.3. 

  
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	SECTION 8	REPORTING COVENANTS 

 Issuer covenants and agrees that on and after the Closing Date
until the Discharge Date, unless waived in accordance with the terms hereof, Issuer shall, and shall cause each other Subject Company to, deliver to Agent: 

8.1 Default Notice 

As soon as possible and in any event within three Business Days after a Responsible Officer becomes aware of the occurrence of any Default, a
statement of the Chief Financial Officer of Issuer setting forth details of such Default and the action that the applicable Note Document Party has taken and proposes to take with respect thereto. 

8.2 Annual Financials 

As soon as available and in any event within 120 days after the end of each Fiscal Year, a copy of the audited financial statements for the
Issuer and its consolidated Subsidiaries, including therein a balance sheet of Issuer and its consolidated Subsidiaries as of the end of such Fiscal Year and a statement of income and a statement of cash flows of Issuer and its consolidated
Subsidiaries for such Fiscal Year, in each case accompanied by an audit opinion by KPMG LLP or other independent public accountants of nationally recognized standing reasonably acceptable to Agent (it being agreed any Big 4 accounting firm shall be
acceptable to Agent); provided that the consolidated annual financial statement for the 2014 Fiscal Year may be unaudited and not accompanied by an audit opinion, together with a certificate of a Responsible Officer of Issuer stating that no
Default has occurred and is continuing or, if a Default has occurred and is continuing, a statement as to the nature thereof and the action that Issuer has taken and proposes to take with respect thereto. 

8.3 Quarterly Financials 

As soon as available and in any event within 60 days after the end of each of the first three Fiscal Quarters of each Fiscal Year, a balance
sheet of Issuer and its consolidated Subsidiaries as of the end of such Fiscal Quarter and a statement of income and a statement of cash flows of Issuer and its consolidated Subsidiaries for the period commencing at the end of the previous Fiscal
Quarter and ending with the end of such Fiscal Quarter and a statement of income and a statement of cash flows of Issuer and its consolidated Subsidiaries for the period commencing at the end of the previous Fiscal Year and ending with the end of
such quarter, setting forth in each case in comparative form the corresponding figures for the corresponding date or period of the preceding Fiscal Year, all in reasonable detail and duly certified (subject to normal recurring adjustments necessary
for a fair presentation and to the absence of footnote disclosure) by a Responsible Officer of Issuer as having been prepared in accordance with GAAP, together with a certificate of said officer of Issuer stating that no Default has occurred and is
continuing or, if a Default has occurred and is continuing, a statement as to the nature thereof and the action that Issuer has taken and proposes to take with respect thereto. 

8.4 Litigation 

Promptly after the commencement thereof, notice of all actions, suits, investigations, litigation and proceedings before any Governmental
Authority affecting any Subject Company of the type described in subsection 5.6. 

  
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 8.5 Creditor Reports 

Substantially simultaneously with transmission thereof to the lenders under the CCH Senior Financing, copies of all notices, certificates
(including compliance certificates), documents, reports and information (other than interest rate elections, continuations or conversions) that any Project Entity may furnish to the lenders under the CCH Senior Financing (including annual and
operating budgets, construction progress reports and operating reports, in each case to the extent required thereby); provided that in the event that the CCH Senior Financing is repaid in full prior to the Discharge Date, the foregoing
references in this subsection to the CCH Senior Financing shall be deemed to be a reference to the largest principal amount of then-outstanding Permitted Senior Debt of the Project Entities. 

8.6 Agreement Notices, Etc. 

A. Promptly upon receipt thereof: 

(i) Copies of all notices, requests and other documents received by any Project Entity under or pursuant to any Permitted Senior Debt
Document regarding or related to any material breach or default asserted by any party thereto. 
 (ii) Copies of any amendment,
modification or waiver of any material provision of any Permitted Senior Debt Document. 
 (iii) Copies of any notice of cancellation of,
or non-renewal of, or material change in, the insurance policies maintained by or on behalf of any Subject Company. 
 (iv) Copies of any
amendment, modification or waiver of any provision of any Constituent Document of any Subject Company. 
 (v) Copies of any Permitted
Senior Debt Document or Subsequent Material Project Agreement entered into by any Project Entity after the date hereof (to the extent not previously delivered); provided that, if the delivery of any Subsequent Material Project Agreement
pursuant to this subsection 8.6A(v) would result in the breach of any confidentiality undertakings owed by the Project Entities to the counterparty thereof, subject to the consent of the counterparty and Agent’s or the Note Holder’s
entry into any confidentiality agreement in substantially the form that other parties receiving the same Subsequent Material Project Agreement have been required to enter into in order to receive such document, a copy of such Subsequent Material
Project Agreement shall be made available to Agent or such Note Holder and its counsel; provided, further, that notwithstanding the foregoing, the Subject Companies shall have no obligation to deliver any Subsequent Material Project
Agreement that is a replacement or substitute for the ConocoPhillips License Agreement or any license agreement with ConocoPhillips Company or any of its affiliates entered into in connection with an Expansion to Agent or any Note Holder pursuant to
this subsection 8.6A(v). 
 (vi) Copies of any material Governmental Authorizations obtained by any Subject Company after the
Closing Date. 

  
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 (vii) Written notice of any material dispute or material correspondence between any Subject
Company and any Governmental Authority involving the revocation, modification or failure to renew of any material Governmental Authorization or the imposition of additional conditions with respect thereto, to the extent if adversely determined could
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 
 B. Deliver to Agent and the Note
Holders in accordance with subsection 8.7, any notice required under subsection 10.3. 
 C. Prompt notice of any
material change in accounting policies or financial reporting practices by any Subject Company. 
 D. Prompt (but in no event longer
than one Business Day following the applicable determination) notice of any determination by Parent or Issuer that Parent or Issuer is a USRPHC. 

8.7 Other Information 

Such other information respecting the business, condition (financial or otherwise), operations, performance, properties or prospects of any
Issuer Party as Agent may from time to time reasonably request; provided that all such information that is Confidential Information shall be subject to the terms of subsection 12.22. 

8.8 Delivery of Documents 

A. Delivery of any notice, document or information pursuant to subsection 6.13B, 7.6A, 7.9 or this
Section 8 shall be made in accordance with subsection 8.8B. 
 B. With respect to each certificate of any Issuer
Party delivered pursuant hereto, and any documents required to be delivered to Agent, Collateral Agent or Note Holders pursuant to this Agreement, a PDF of such materials shall be prepared and posted to a data room or other electronic platform
maintained by or on behalf of the Issuer and to which Agent and the Note Holders have access and notifying the Agent and the Note Holders of the posting of such information. Issuer shall not be required to provide, or make available, or provide
notice of the posting of, copies of any certificates, documents, information, notices or other materials pursuant to subsection 8.5, 8.6A(i), 8.6A(ii), 8.6A(v), 8.6B or 8.7 to Agent or any Note Holder
if Agent or such Note Holder does not execute a confidentiality agreement, in form and substance reasonably satisfactory to Issuer. At any time, Agent or any Note Holder may indicate to Issuer that it no longer wishes to receive material non-public
information and Issuer shall promptly cease providing such material non-public information to such Note Holder pursuant to subsection 8.5, 8.6A(i), 8.6A(ii), 8.6A(v), 8.6B or 8.7. 

C. The financial statements delivered pursuant to subsection 8.2 or subsection 8.3, as the case may be, and the balance
sheet, statement of income and statement of cash flows that have been delivered pursuant to subsection 8.2 and subsection 8.3, fairly present in all material respects the financial condition of Issuer and its consolidated Subsidiaries
as at the dates thereof and for the periods ended on such dates, all in accordance with GAAP subject, in the case of balance sheets, statements of income and cash flows delivered pursuant to subsection 8.3, to normal recurring adjustments
necessary for a fair presentation and to the absence of footnote disclosure. 

  
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	SECTION 9	CONVERSION; LIMITATION ON SYNTHETIC SALES; CERTAIN PRE-CLOSING MATTERS. 

 9.1
Issuer Initiated Conversion 
 A. Subject to and upon compliance with the provisions set forth in subsection 9.2
and subsection 9.9, at any time on or after the Commercial Operation Date and prior to 5:00 p.m. (Houston time) on the Business Day immediately preceding the ninth anniversary of the Closing Date, Issuer may deliver an Issuer Initiated
Conversion Notice to Agent specifying all or any amount of Notes that will be subject to a conversion at the option of Issuer (any such conversion, an “Issuer Initiated Conversion”) and the aggregate number of shares of Parent
Common Stock outstanding as of the date of such Issuer Initiated Conversion Notice; provided that no Issuer Initiated Conversion shall occur if an Event of Default has occurred and is continuing; provided, further, that each
Issuer Initiated Conversion Notice shall be irrevocable. 
 B. The principal amount of Notes that Issuer requires the Note Holders,
in the aggregate, to convert under an Issuer Initiated Conversion must be equal to $250,000,000 or an integral multiple of $1,000 in excess thereof (or to the extent the aggregate principal amount of Notes outstanding is less than $250,000,000 or is
not an integral multiple of $1,000, the aggregate principal amount of Notes outstanding). 
 9.2 Conditions to Conversion for Issuer
Initiated Conversion Notice 
 Each of the following shall be a condition to the effectiveness of any Issuer Initiated Conversion;
provided, however, that each condition may be waived by the mutual consent of Issuer and the applicable converting Note Holders: 

A. any such Issuer Initiated Conversion shall not result in any converting Note Holder that is an EIG Note Holder being required to
convert its Notes and receive shares of Parent Common Stock that would cause the Section 16 Percentage for such EIG Note Holder to exceed 9.99%; provided, however, that Issuer shall not be restricted in requiring or effecting an
Issuer Initiated Conversion of any Ownership Limit Non-Converted Notes at any time following the date that is 90 Trading Days after such Issuer Initiated Conversion Date giving rise to such Ownership Limit Non-Converted Notes and such 90-Trading Day
period may not be waived by such EIG Note Holder; provided, further, that if, after the expiration of such 90-Trading Day period, the Issuer seeks to require and effect an Issuer Initiated Conversion with respect to such Ownership
Limit Non-Converted Notes, the applicable EIG Note Holder may require Issuer to repurchase any such Ownership Limit Non-Converted Notes in accordance with subsection 9.4; 

B. Pursuant to Sections 2 and 3 of the Registration Rights Agreement, with respect to any Issuer Initiated Conversion, Parent shall
file with the Securities Exchange Commission a Shelf Registration Statement providing for the registration of, and the sale on a continuous or delayed basis by the Holders (as defined in the Registration Rights Agreement) of, all of the Registrable
Securities deliverable upon such Issuer Initiated Conversion, from time to 

  
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time in accordance with the methods of distribution elected by such Holders (including an underwritten offering), pursuant to Rule 415 under the Securities Act or any similar rule that may
be adopted by the Securities Exchange Commission, and shall cause such Shelf Registration Statement to become effective on or prior to the Trading Day that the relevant Issuer Initiated Conversion Notice is delivered; 

C. the amount equal to the number of shares of Parent Common Stock outstanding (prior to giving effect to any conversion that has not
been settled) multiplied by the Last Reported Sale Price on the Trading Day immediately preceding the date of delivery of the applicable Issuer Initiated Conversion Notice shall not be less than $13,700,000,000; 

D. (a) such Issuer Initiated Conversion and the Issuer Initiated Conversion Notice to which it relates shall not occur or be delivered,
as applicable, (i) on any day during a “Blackout Period” (as defined in the Registration Rights Agreement), (ii) on any day during a “Deferral Period” (as defined in section 5(j) of the Registration Rights
Agreement), or if Parent reasonably expects that a Deferral Period may commence within five Business Days following the date on which the shares of Parent Common Stock are delivered pursuant to the applicable Issuer Initiated Conversion or
(iii) subject to subsection 9.10, on any day during (x) the 90-Trading Day period immediately following the consummation of any previous Issuer Initiated Conversion or Note Holder Initiated Conversion and (y) the five Scheduled
Trading Day period immediately following the delivery of any Issuer Initiated Conversion Notice or Note Holder Initiated Conversion Notice, (b) such Issuer Initiated Conversion shall not occur on any day during (i) the calendar period
from, and including, December 24 to January 1, or (ii) with respect to any conversion of Additional Notes, the 12-month period following the date on which such Additional Notes are issued, and
(c) any Issuer Initiated Conversion Notice shall not be delivered on any day during the 90 VWAP Trading Day period following a stock split, stock dividend, rights offering, special dividend, other asset distribution or any other event or
transaction of a type that would be subject to adjustment under subsection 9.8B; 
 E. solely with respect to the first
Issuer Initiated Conversion, the principal amount of the Notes being converted shall be less than or equal to 50.0% of the principal amount of Notes outstanding on the date of delivery of the applicable Issuer Initiated Conversion Notice; and 

F. any shares of Parent Common Stock delivered upon conversion are (i) fungible with the Parent Common Stock, (ii) approved
for listing on the Applicable Exchange and (iii) not subject to any Transfer Restrictions (other than pursuant to Section 5 of the Securities Act as a result of being “restricted securities” within the meaning of Rule 144).

  
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 9.3 Conversion Procedure for Issuer Initiated Conversion 

A. Following an Issuer Initiated Conversion Notice with respect to any Notes, by 5:00 p.m. (Houston time) on the fourth Scheduled
Trading Day immediately following the date of delivery of the applicable Issuer Initiated Conversion Notice (a) Agent shall provide Issuer with a list of each Note Holder and the amount of such Note Holder’s Notes that will be converted,
and (b) each Note Holder of any Notes to be converted in whole or in part shall: 
 (i) surrender such Note Holder’s Note to
Issuer; 
 (ii) if required, furnish appropriate endorsements and transfer documents; and 

(iii) provide notice of the number of shares of Parent Common Stock that can be delivered to such converting Note Holder in respect of such
Issuer Initiated Conversion without causing the Section 16 Percentage for such Note Holder to exceed 9.99%. 
 Subject to, and upon
satisfaction of, the requirements in the immediately preceding sentence, the Notes subject to an Issuer Initiated Conversion Notice will be converted in accordance with the provisions of this Agreement and the Notes and Issuer shall, and shall cause
Parent, as agent for Issuer, to, deliver the shares of Parent Common Stock deliverable therefor pursuant to subsection 9.9. 

9.4 Repurchase of the Notes Following an Issuer Initiated Conversion Notice 

A. If, following an Issuer Initiated Conversion Notice, any Notes subject to conversion become Ownership Limit Non-Converted Notes by
virtue of the limitation set forth in subsection 9.2A and, thereafter, Issuer seeks to require and effect an Issuer Initiated Conversion with respect to any or all of such Ownership Limit Non-Converted Notes after the expiration of the
90-Trading Day period referenced in subsection 9.2A, the EIG Note Holder holding such Ownership Limit Non-Converted Notes shall have the right, at such EIG Note Holder’s option, instead of having such Ownership Limit Non-Converted Notes
converted, to require Issuer to purchase for cash all or any portion of the Ownership Limit Non-Converted Notes subject to such Issuer Initiated Conversion on the date that is three (3) Business Days following the date on which such EIG Note
Holder delivers the Repurchase Notice to Issuer and satisfies the requirements set forth in subsection 9.4C. 
 B. No later
than 11:00 a.m. (Houston time) on the third Scheduled Trading Day immediately following the date of delivery of the applicable Issuer Initiated Conversion Notice with respect to any Issuer Initiated Conversion of Ownership Limit Non-Converted
Notes, any EIG Note Holder with Ownership Limit Non-Converted Notes subject to such conversion may deliver a notice to Issuer in the form of Exhibit F-3 hereto (the “Repurchase Notice”) setting forth (i) the
principal amount of such EIG Note Holder’s Ownership Limit Non-Converted Notes that such EIG Note Holder elects to require Issuer to repurchase (the “Repurchased Non-Converted Notes”) and (ii) that such Repurchased
Non-Converted Notes are to be purchased by Issuer pursuant to the Notes and this subsection 9.4. Any Ownership Limit Non-Converted Notes subject to any Issuer Initiated Conversion Notice that are not Repurchased Non-Converted Notes shall be
converted in accordance with the provisions of this Section 9. 
 C. To exercise its repurchase right pursuant to
subsection 9.4A, each Note Holder of Repurchased Non-Converted Notes shall, by the applicable time period set forth in subsection 9.4B: 

(i) surrender such Note Holder’s Note to Issuer; and 

(ii) if required, furnish appropriate endorsements and transfer documents; 

  
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 provided, however, that if such Note Holder has already satisfied the requirements of
clauses (i) and (ii) immediately above in connection with the conversion procedures set forth in subsection 9.3A, then such requirements shall be deemed to have been satisfied under this subsection 9.4C. 

D. The Repurchased Non-Converted Notes shall be purchased by Issuer at a price equal to the sum of (i) the product of (A) the
aggregate Principal Amount of the Repurchased Non-Converted Notes and (B) 1.1 plus (ii) accrued and unpaid interest on such Repurchased Non-Converted Notes to, but excluding, the date of repurchase. 

9.5 Note Holder Initiated Conversion 

A. Subject to and upon compliance with the provisions set forth in subsection 9.6 and subsection 9.9, each Note Holder
shall have the right, at such Note Holder’s option, at any time on or after the six-month anniversary of the Commercial Operation Date and prior to 5:00 p.m. (Houston time) on the Business Day immediately preceding the ninth anniversary of
the Closing Date, to convert the principal amount of any such Notes, or any portion of such principal amount, into shares of Parent Common Stock by, acting through Agent, delivering to Issuer and Parent the Note Holder Initiated Conversion Notice
(any such conversion, a “Note Holder Initiated Conversion”); provided that each Note Holder Initiated Conversion Notice shall be irrevocable, except as provided for in subsection 9.10 or in section 4(a) of the
Registration Rights Agreement. 
 B. The aggregate principal amount of Notes that Note Holders elect to convert under a Note Holder
Initiated Conversion must be equal to $250,000,000 or an integral multiple of $1,000 in excess thereof (or to the extent the aggregate principal amount of Notes outstanding is less than $250,000,000 or is not an integral multiple of $1,000, the
aggregate principal amount of Notes outstanding). 
 9.6 Conditions to Conversion for Note Holder Initiated Conversion 

Each of the following shall be a condition to the effectiveness of any Note Holder Initiated Conversion; provided,
however, that each condition may be waived by the mutual consent of Issuer and the applicable converting Note Holders: 

A. solely with respect to the first Note Holder Initiated Conversion, the principal amount of the Notes being converted shall be less
than or equal to 50.0% of the principal amount of Notes outstanding on the relevant date of delivery of the applicable Note Holder Initiated Conversion Notice; 

B. (a) such Note Holder Initiated Conversion and the Note Holder Initiated Conversion Notice to which it relates shall not occur or be
delivered, as applicable, (i) on any day during a “Blackout Period” (as defined in the Registration Rights Agreement), (ii) on any day during a “Deferral Period” (as defined in section 5(j) of the Registration
Rights Agreement), or if Parent reasonably expects that a Deferral Period may commence within five Business Days following the date on which the shares of Parent Common Stock are delivered pursuant to the

  
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applicable Note Holder Initiated Conversion or (iii) subject to subsection 9.10, on any day during (x) the 90-Trading Day period immediately following the consummation of any
previous Issuer Initiated Conversion or Note Holder Initiated Conversion and (y) the five Scheduled Trading Day period immediately following the delivery of any Issuer Initiated Conversion Notice or Note Holder Initiated Conversion Notice and
(b) such Note Holder Initiated Conversion Notice shall not be delivered on any day during the 90 VWAP Trading Day period following a stock split, stock dividend, rights offering, special dividend, other asset distribution or any other
event or transaction of a type that would be subject to adjustment under subsection 9.8B; provided that if any Note Holder delivers a Note Holder Initiated Conversion Notice during one of the periods enumerated above, then such Notice
shall be deemed void and not given any effect; 
 C. the amount equal to the number of shares of Parent Common Stock outstanding
(prior to giving effect to any conversion that has not been settled) multiplied by the Last Reported Sale Price on the Trading Day immediately preceding the date of delivery of the applicable Note Holder Initiated Conversion Notice shall not
be less than $13,700,000,000; 
 D. the Note Holders may make the “Demand” (as defined in section 3 of the
Registration Rights Agreement) with respect to the Registrable Securities to be received upon such Note Holder Initiated Conversion and that Parent shall comply with its obligations under the Registration Rights Agreement; provided that any
underwritten offering effected pursuant to such Demand shall not include a road show or fully-marketed offering; and 
 E. any shares
of Parent Common Stock delivered upon conversion are (i) fungible with the Parent Common Stock, (ii) approved for listing on the Applicable Exchange and (iii) not subject to any Transfer Restrictions (other than pursuant to
Section 5 of the Securities Act as a result of being “restricted securities” within the meaning of Rule 144). 
 9.7
Conversion Procedure for Note Holder Initiated Conversion 
 A. Following a Note Holder Initiated Conversion Notice with
respect to any Notes, the Note Holder of any such Notes to be converted, in whole or in part, shall at or prior to 5:00 p.m. (Houston time) on the fourth Scheduled Trading Day immediately following the date of delivery of the applicable Note
Holder Initiated Conversion Notice: 
 (i) surrender such Note Holder’s Note to Issuer; 

(ii) if required, furnish appropriate endorsements and transfer documents; and 

(iii) if required pursuant to subsection 9.12, pay any transfer taxes or duties. 

Subject to, and upon satisfaction of the requirements in the immediately preceding sentence, the Notes subject to a Note Holder Initiated
Conversion Notice will be converted in accordance with the provisions of this Agreement and the Notes and Issuer shall, and shall cause Parent, as agent for Issuer, to, deliver the shares of Parent Common Stock deliverable therefor pursuant to
subsection 9.9. 

  
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 9.8 Conversion Rate 

A. The conversion rate with respect to any Notes surrendered for conversion pursuant to this Section 9 (the
“Conversion Rate”) shall be the number of shares of Parent Common Stock per $1,000 principal amount of Notes (or, if the aggregate principal amount of Notes subject to conversion is not an integral of $1,000, such other amount)
equal to 1,000 (or, if the aggregate principal amount of Notes subject to conversion is not an integral of $1,000, such other amount) divided by: (i) (a) with respect to any Initial Notes surrendered in connection with an Issuer
Initiated Conversion, the price per share equal to the lower of (x) the product of (A) 0.9 and (B) the average of the Daily VWAP of Parent Common Stock for the 90 consecutive VWAP Trading Day period ending on, and including, the
VWAP Trading Day immediately preceding the date on which the Issuer Initiated Conversion Notice is delivered to converting Note Holders and (y) the product of (A) 0.9 and (B) the Last Reported Sale Price on the Trading Day immediately
preceding the date on which the Issuer Initiated Conversion Notice is delivered to converting Note Holders or (b) with respect to any Additional Notes surrendered in connection with an Issuer Initiated Conversion, the price per share equal to
the lower of (x) the product of (A) 0.75 and (B) the average of the Daily VWAP of Parent Common Stock for the 90 consecutive VWAP Trading Day period ending on, and including, the VWAP Trading Day immediately preceding the date on
which the Issuer Initiated Conversion Notice is delivered to converting Note Holders and (y) the product of (A) 0.75 and (B) the Last Reported Sale Price on the Trading Day immediately preceding the date on which the Issuer Initiated
Conversion Notice is delivered to converting Note Holders; or (ii) (a) with respect to any Initial Notes surrendered in connection with a Note Holder Initiated Conversion, the average of the Daily VWAP of Parent Common Stock for the 90
consecutive VWAP Trading Day period ending on, and including, the VWAP Trading Day immediately preceding the date on which the Note Holder Initiated Conversion Notice is delivered to Issuer and Parent or (b) with respect to any Additional Notes
surrendered in connection with a Note Holder Initiated Conversion, the product of (x) 0.75 and (y) the average of the Daily VWAP of Parent Common Stock for the 90 consecutive VWAP Trading Day period ending on, and including, the VWAP
Trading Day immediately preceding the date on which the Note Holder Initiated Conversion Notice is delivered to Issuer and Parent (any such 90 consecutive VWAP Trading Day period described in clauses (i) and
(ii) immediately above, the “Averaging Period” and any such price calculated in clauses (i) and (ii) immediately above, the “Conversion Price”); provided, however,
that the Issuer shall adjust the Conversion Rate in a commercially reasonable manner and in accordance with the advice and calculations of an Independent Financial Expert retained by Issuer for such purpose if (i) the ex-dividend date or record
date, as applicable, for any regularly scheduled quarterly or other periodic dividend or distribution occurs during the period starting on the date immediately succeeding the last day of the Averaging Period and ending on the day immediately
preceding the date on which Parent Common Stock is delivered to the converting Note Holder in accordance with subsection 9.9D or (ii) the ex-dividend date or record date, as applicable, for any regularly scheduled quarterly or other
periodic dividend or distribution that is in an amount that differs materially from the amount of the most recent regularly scheduled or other periodic dividend of the Parent occurs during the period starting on the first day of the Averaging Period
and ending on the last day of the Averaging Period. 
 B. If the ex-dividend date, record date, effective date or expiration date, as
applicable, for any of the following events occurs, the Averaging Period for the purpose of 

  
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determining any Conversion Price may not commence until 90 VWAP Trading Days following such an event (for the avoidance of doubt, a conversion of Notes may not occur during a 90 VWAP
Trading Day period following such an event) unless the Note Holders who have delivered the Conversion Notice with respect to any Notes elect for the Averaging Period for such converted Notes to include one or more of such events, in which case the
conversion of such Notes shall occur in accordance with such Conversion Notice and the Conversion Rate shall be adjusted by the Issuer in a commercially reasonable manner and in accordance with the advice and calculations of the Independent
Financial Expert retained by the Issuer for that purpose: 
 (i) Parent issues shares of Parent Common Stock as a dividend or distribution
on all or substantially all of the shares of the Parent Common Stock, or Parent effects a share split or share combination applicable to all or substantially all shares of the Parent Common Stock; 

(ii) Parent declares a distribution to all or substantially all holders of shares of Parent Common Stock of any rights, options or warrants
entitling them for a period of not more than 60 days after the date of such distribution to subscribe for or purchase shares of Parent Common Stock, at a price per share less than the Last Reported Sale Price of the Parent Common Stock on the
Trading Day immediately preceding the date of announcement of such distribution; 
 (iii) Parent declares a distribution of shares of its
capital stock, evidences of its indebtedness, other assets or property of Parent or rights, options or warrants to acquire Issuer’s Capital Stock or other securities (the “Distributed Property”), to all or substantially all
holders of shares of Parent Common Stock, excluding: 
 (a) dividends or distributions of Parent Common Stock or rights,
options or warrants as to which an adjustment was made under subsection 9.8B(i) or subsection 9.8B(ii), as the case may be; 

(b) dividends or distributions paid exclusively in cash as to which adjustment, if any, will be made under subsection
9.8B(v); and 
 (c) dividends or distributions as to which an adjustment was made under subsection 9.8B(iv); 

(iv) Parent declares a distribution to all or substantially all holders of shares of Parent Common Stock of shares of capital stock of any
class or series, or similar equity interest, of or relating to a Subsidiary, or other business unit or Affiliate, of Parent, where such Capital Stock or similar equity interest is listed or quoted (or will be listed or quoted upon consummation of
the Spin-Off) on a major U.S. or non-U.S. securities exchange (a “Spin-Off”); 
 (v) any cash dividend or distribution is
declared to be paid or made to all or substantially all holders of shares of Parent Common Stock, other than any regularly scheduled quarterly or other periodic dividend or distribution, subject to adjustment pursuant to the proviso set forth in
subsection 9.8A; or 

  
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 (vi) Parent, Issuer or any of their Subsidiaries makes a payment in respect of a tender offer or
exchange offer for shares of Parent Common Stock, to the extent that the cash and value of any other consideration included in the payment per share of Parent Common Stock exceeds the Last Reported Sale Price of the Parent Common Stock on the
Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender offer or exchange offer. 

C. Within three Business Days following any adjustment to the Conversion rate pursuant to the proviso in subsection 9.8A,
Issuer shall prepare a notice of such adjustment of the Conversion Rate setting forth the adjusted Conversion Rate and the date on which each adjustment became effective and shall mail by overnight mail such notice of such adjustment of the
Conversion Rate to each Note Holder in accordance with subsection 12.4. In addition, following any adjustment to the Conversion Rate pursuant to the proviso in subsection 9.8A, Issuer will, upon request by a Note Holder, promptly
following (and, in any event, within three Business Days of) such request, provide to such Note Holder a report (in a commonly used file format for the storage and manipulation of financial data) displaying in reasonable detail the basis for such
adjustment. 
 D. During the period starting on the day immediately succeeding the last day of the Averaging Period and ending on the
day immediately preceding the date on which Parent Common Stock is delivered to the converting Note Holder in accordance with subsection 9.9D, no ex-dividend date, record date, effective date or expiration date, as applicable, for any of the
events described in subsection 9.8B that are not permitted to occur during the Averaging Period for the purpose of determining any Conversion Price shall occur. 

9.9 Settlement upon Conversion 

A. Provisions of this Agreement that apply to conversion of all of a Note also apply to conversion of a portion of a Note. 

B. Each conversion shall be deemed to have been effected as to any such Notes (or portion thereof) on the date on which the
requirements set forth above in subsection 9.3 or 9.7, as applicable, have been satisfied as to such Notes (or portion thereof). 

C. Upon the surrender of a Note that is converted in part (except to the extent such Note is repurchased as a Repurchased Non-Converted
Note) or only part of which consists of Repurchased Non-Converted Notes within three Business Days after the date of such surrender, Issuer shall execute and deliver to the Holder a new Note equal in principal amount to the unconverted portion or
portion not subject to repurchase of the Note surrendered. 
 D. With respect to any conversion of Notes, if any, Issuer shall,
subject to the provisions of this Section 9, no later than 5:00 p.m. (Houston time) on the fifth Scheduled Trading Day immediately following the date of delivery of the relevant Issuer Initiated Conversion Notice or Note Holder
Initiated Conversion Notice, as applicable, cause Parent to issue and Issuer shall deliver (or shall cause Parent, as agent for Issuer, to deliver) to the converting Note Holder the number of shares of Parent Common Stock equal to, in respect of
each $1,000 principal amount of Notes being converted (or, if the aggregate principal amount of 

  
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Notes subject to conversion is not an integral of $1,000, such other amount), the number of shares of Parent Common Stock equal to the Conversion Rate, rounded down to the nearest whole share of
Parent Common Stock; provided, that in the event of a Note Holder Initiated Conversion, Issuer’s requirement to deliver shares in accordance with this subsection 9.9D shall be deferred to the extent Parent’s obligations under
section 4(a) of the Registration Rights Agreement are deferred in accordance with the terms thereof until the date on which such obligations are satisfied or the applicable Note Holder elects to revoke its Note Holder Initiated Conversion Notice in
accordance with the terms of such section. 
 E. Upon conversion, Note Holders shall receive a separate cash payment for (i) any
partial shares that are not delivered to such Note Holder pursuant to subsection 9.9D, plus (ii) accrued and unpaid interest up to but excluding the date on which such converting Note Holder receives shares of Parent Common Stock
pursuant to subsection 9.9D. 
 F. Issuer shall not issue fractional shares upon conversion of Notes. If multiple Notes shall
be surrendered for conversion at one time by the same Note Holder, the number of full shares which shall be issuable upon conversion (and the number of fractional shares, if any, for which cash shall be delivered) shall be computed on the basis of
the aggregate principal amount of the Notes (or specified portions thereof to the extent permitted hereby) so surrendered. 
 G.
Notwithstanding anything to the contrary in this Agreement, in no case shall Issuer deliver (or cause Parent to deliver) any shares of Parent Common Stock to the extent delivery thereof would cause the aggregate number of all shares of Parent Common
Stock delivered and deliverable pursuant to the terms of this Agreement to all Note Holders to exceed the Aggregate Share Cap. 
 H.
With respect to each share of Parent Common Stock delivered pursuant to this subsection 9.9: (i) Issuer acknowledges to, and agrees with, the Note Holder of the relevant converted Note that such share will be delivered free of
restrictive legends; provided that any instruction to the transfer agent for the Parent Common Stock that such shares of Parent Common Stock are “restricted securities” within the meaning of Rule 144(a) of the Securities Act
shall not be deemed to breach this subsection 9.9H; provided that upon a sale pursuant to the registration statement, such shares will be delivered free of any such legend, registered in the name of The Depository Trust Company’s
nominee, maintained in the form of book entries on the books of The Depository Trust Company and allowed to be settled through The Depository Trust Company’s regular book-entry settlement services and (ii) the Note Holder of the relevant
converted Note acknowledges and agrees that such share may be a “restricted security” within the meaning of Rule 144(a) of the Securities Act and will not be sold except in a transaction registered under the Securities Act or in a
transaction exempt from the registration requirements of the Securities Act. 
 9.10 Piggyback Conversions 

A. Notwithstanding the limitations set forth in subsection 9.2D(a)(iii) and subsection 9.6C(a)(iii), if any Issuer
Initiated Conversion Notice or any Note Holder Initiated Conversion Notice has been delivered (either, the “First Notice”), then, by 5:00 p.m. (Houston 

  
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time) on the Business Day immediately following the delivery of such First Notice, the Note Holders (with respect to any First Notice that is an Issuer Initiated Conversion Notice) or the Issuer
(with respect to any First Notice that is a Note Holder Initiated Conversion Notice) shall have the right to deliver, as applicable, a Note Holder Initiated Conversion Notice or Issuer Initiated Conversion Notice (either, the “Piggyback
Notice”), and such Piggyback Notice shall be deemed to have been delivered on the same date as the First Notice, and, for the avoidance of doubt, the conversion with respect to each of the First Notice and the Piggyback Notice shall be
consummated on the same date. Except as expressly set forth in this subsection 9.10, any conversion pursuant to a First Notice or a Piggyback Notice shall be subject to all terms and conditions applicable to an Issuer Initiated Conversion or
a Note Holder Initiated Conversion, as applicable; provided that in the event the Piggyback Notice is delivered by Issuer following a Note Holder Initiated Conversion Notice, the Note Holders delivering the First Notice shall have the right
to revoke the applicable Note Holder Initiated Conversion Notice that was delivered by such Note Holders on or before 5:00 p.m. (Houston time) on the Business Day immediately following the delivery of the Piggyback Notice and, in the event the Note
Holders elect to revoke such First Notice, the Issuer shall have the right, to be exercised within one Business Day following the revocation of the First Notice, to notify Agent and the Note Holders that Issuer elects to increase the aggregate
amount of Notes to be converted pursuant to the Piggyback Notice and such conversion will otherwise remain subject to the provisions of this Section 9, including, with respect to any conversion of Notes held by an EIG Note Holder, the
provisions set forth in subsection 9.2A. 
 B. Notwithstanding subsection 9.10A, if: 

(i) as a result of subsection 9.9G, less than all the shares of Parent Common Stock subject to the First Notice and the Piggyback
Notice may be delivered, Parent Common Stock shall be delivered, to the extent permitted by subsection 9.9G, first, pursuant to the First Notice and, second, pursuant to the Piggyback Notice; or 

(ii) with respect to the First Notice and Piggyback Notice, if any, in connection with the initial conversion pursuant to this
Section 9, the aggregate principal amount of Notes being converted pursuant to both the First Notice and the Piggyback Notice shall be less than or equal to 50.0% of the principal amount of all Notes outstanding as of the date the First
Notice is delivered, and, subject to such limitation, Parent Common Stock shall be delivered first, pursuant to the First Notice with respect to a principal amount of Notes equal to the lesser of (i) 50.0% of the principal amount of all
Notes outstanding as of the date the First Notice is delivered and (ii) the principal amount of Notes subject to the First Notice, and, second, pursuant to the Piggyback Notice with respect to a principal amount of Notes equal to the
lesser of (x) the excess, if any, of (A) 50.0% of the principal amount of all Notes outstanding as of the date the First Notice is delivered over (B) the principal amount of Notes subject to the First Notice and (y) the principal
amount of Notes subject to the Piggyback Notice. 
 9.11 Effect of Reclassification, Consolidation, Merger or Sale 

In the case of (i) any recapitalization, reclassification or change of Parent Common Stock (other than changes resulting from a
subdivision or combination, any stock dividends or any change in par value or to no par value or from no par value to a par value), (ii) any consolidation, 

  
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merger or combination involving Parent, (iii) any sale, lease or other transfer to a third party of the consolidated assets of Parent substantially as an entirety, or (iv) any statutory
share exchange, in each case, as a result of which Parent Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets (including cash or any combination thereof) (any such event, a “Merger
Event”), then, at the effective time of the Merger Event, Issuer shall execute, and each Note Holder shall counter-sign, a supplemental agreement providing for the right to convert each $1,000 principal amount of Notes by reference to the
kind and amount of shares of stock, other securities or other property or assets (including cash or any combination thereof) that a holder of one share of Parent Common Stock immediately prior to such Merger Event would have owned or been entitled
to receive (the “Reference Property”) upon such Merger Event; provided that, if the successor to Parent is not a U.S. person (within the meaning of Section 7701(a)(30) of the Code) that is an entity taxable as a
corporation for U.S. federal tax purposes, Parent shall notify Agent no fewer than 15 Business Days prior to the effective time of such Merger Event; provided, further, that unless upon the effective time of such Merger
Event (i) the common equity (or receipts representing such equity) of the successor to Parent is listed on The New York Stock Exchange, the NYSE MKT, the NASDAQ Global Market or the NASDAQ Global Market Select, or any successor to the
foregoing, and (ii) such successor to Parent becomes party to the Note Purchase Agreement and the Registration Rights Agreement and assumes all of Parent’s obligations thereunder, Section 9 of this Agreement shall cease to be
effective and the Notes shall no longer be convertible. If such Merger Event causes Parent Common Stock to be converted into the right to receive more than a single type of consideration (determined based in part upon any form of shareholder
election), the Reference Property into which the Notes will be convertible will be deemed to be the weighted average of the types and amounts of consideration received by the holders of shares of Parent Common Stock that affirmatively make such an
election. If requested by the Required Note Holders (ignoring, for the purposes of determining Required Note Holders for purposes of this Section, any conversions that have not been settled) any changes to this Agreement in connection with the
Merger Event shall be made in accordance with the advice and calculations of an Independent Financial Expert retained by Issuer for such purpose. Issuer shall notify the Note Holders of such weighted average as soon as practicable after such
determination is made. Issuer shall not, and shall cause Parent not to, enter into any such transaction unless its terms are consistent with the foregoing in this subsection 9.11. 

9.12 Taxes of Shares Issued 

Any issue of shares on conversions of Notes shall be made without charge to the converting Note Holder for any documentary, transfer, stamp or
any similar tax in respect of the issue thereof, and Issuer shall pay any and all documentary, stamp or similar issue or transfer taxes or duties that may be payable in respect of the issue or delivery of shares of Parent Common Stock on conversion
of Notes pursuant hereto. Issuer shall not, however, be required to pay any such tax which may be payable in respect of any transfer involved in the issue and delivery of shares in any name other than that of Issuer of any Notes converted, and, in
addition to any other requirements or conditions set forth herein, Issuer shall not be required to issue or deliver any such shares unless and until the Person or Persons requesting the issue thereof shall have paid to Issuer the amount of such tax
or shall have established to the satisfaction of Issuer that such tax has been paid. 

  
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 9.13 Reservation of Shares 

Parent shall at all times provide, out of its authorized but unissued shares or shares held in treasury, shares of Parent Common Stock in an
amount equal to the Aggregate Share Cap. 
 9.14 Shareholder Rights Plan 

Each share of Parent Common Stock issued upon conversion of Notes pursuant to this Section 9 shall be entitled to receive the
appropriate number of rights, if any, as may be provided by the terms of any shareholder rights agreement adopted by Parent, as any such agreement may be amended from time to time. Notwithstanding the foregoing, if prior to any conversion such
rights have separated from the Parent Common Stock in accordance with the provisions of the applicable shareholder rights agreement, the Conversion Rate shall be adjusted at the time of separation as if Parent had distributed, to all holders of the
Parent Common Stock, Distributed Property as described in subsection 9.8B(iii) above, subject to readjustment in the event of the expiration, termination or redemption of such rights. 

9.15 Limitations on Synthetic Sales 

No Note Holder shall, while it is the holder of Notes, enter into any hedging, derivative or other similar transaction relating to such Notes
with respect to any Issuer Party or any of their respective Equity Interests, other securities, debt instruments or credit ratings, the economic effect or intent of which transaction is to transfer gain or loss in respect of the value of, such Notes
(or the shares of Parent Common Stock into which such Notes are convertible) to another Person as a result of changes in the trading price of the securities of any Issuer Party or their respective Equity Interests, debt instruments or changes in the
credit ratings of any Issuer Party or any of their respective Equity Interests, other securities or debt instruments (or, more generally, changes in the perceived creditworthiness of any Issuer Party); provided that this limitation shall not
apply to any Notes in respect of which an Issuer Initiated Conversion Notice or notice of Note Holder Initiated Conversion has been provided pursuant to this Section 9. 

9.16 Director Rights 

From and after the date of any conversion pursuant to this Section 9 following which the EIG Note Holders collectively
“beneficially” own (within the meaning of Section 13 of the Exchange Act) shares of the Parent Common Stock acquired pursuant to one or more Issuer Initiated Conversions or Note Holder Initiated Conversions representing 10% or more of
the outstanding shares of Parent Common Stock, and for so long as such shares continue to represent 5% or more of the outstanding shares of Parent Common Stock, EIG MC, on behalf of the EIG Note Holders, shall be entitled to designate one voting
member for appointment to the board of directors of Parent; provided that such appointee shall be subject to the good faith completion of Parent’s customary due diligence process on director nominees. For the avoidance of doubt, EIG MC
shall not be entitled to appoint more than one director pursuant to this subsection 9.16 at any time. If EIG MC is entitled to designate a director pursuant to this subsection 9.16, Parent will immediately expand the board of directors
of Parent (if there are no existing vacancies) and include such EIG MC designee on the board of directors in such newly-created or vacant director’s seat. Thereafter, Parent shall nominate the person designated by EIG MC in

  
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accordance with this subsection 9.16 for election as a director at the annual meeting immediately following the applicable Conversion Date and solicit proxies for such director in the same
manner as it does for all the other members of Parent’s slate of directors. In the event EIG MC’s designee is not elected as a director at such annual meeting, EIG MC shall have the right to appoint a replacement director (who, for the
avoidance of doubt, shall be a different individual) in accordance with this subsection 9.16. 
 9.17 Cooperation

 Until the date that is 90 days after the Closing Date, the Note Document Parties shall cooperate with the Agent and the Note
Purchasers and shall make their respective officers and other representatives available during reasonable business hours for meetings and customary due diligence calls in connection with the marketing of any transaction with respect to the Notes.

 9.18 Tax Matters. 

A. Parent covenants and agrees, from the Closing Date and until the Discharge Date, unless waived in accordance with the terms hereof:
 
 (i) Parent shall promptly notify Agent if Parent determines that either Parent or Issuer is a USRPHC. 

(ii) Unless Parent has provided Agent with notice pursuant to subsection 9.18A(i) that Parent is a USRPHC, Parent shall perform a
quarterly analysis of its USRPHC status and provide (i) on a quarterly basis and, if requested by Agent, on any date of a disposition of a Note, the Note Holders with a duly signed certificate which certifies that Parent is not a USRPHC, and
therefore equity interests in Parent are not United States real property interests within the meaning of Section 897(c)(1) of the Code, in a form reasonably satisfactory to Agent, and (ii) EIG MC and any of its Affiliates with the
underlying analyses, valuations and work papers related to such determination. 
 (iii) Parent shall not take any action that causes Issuer
to be treated as other than an association taxable as a corporation for U.S. federal tax purposes on or after the Closing Date. 
 B.
Parent covenants and agrees (i) to treat the Notes as debt for U.S. federal tax purposes and (ii) that the Notes are not “contingent payment debt instruments” within the meaning of Treasury Regulations Section 1.1275-4 in
each case unless otherwise required pursuant to a “determination” within the meaning of Section 1313(a) of the Code. 

9.19 Equity Contribution Agreement. Parent covenants and agrees, from the Closing Date and until the Discharge Date, unless
waived in accordance with the terms hereof: 
 A. In the event all Senior Debt Obligations have been paid in full and all related
Senior Debt Commitments, if applicable, have terminated or expired or the financing for the Project contemplated by the CCH Senior Financing Documents has otherwise been terminated, in each case, prior to the payment of all Cash Equity Funding
required to the paid under Sections 2 and 3 of the Equity Contribution Agreement (without regard to the pro rata 

  
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funding requirements of Sections 3(b) and 3(c) of the Equity Contribution Agreement), the Required Note Holders, shall have the right to require, by written notice to Parent from Agent, Parent to
pay all such remaining and unpaid Cash Equity Funding amounts to CCH by wire transfer of immediately available funds to an account designated by CCH or as otherwise directed by CCH. 

B. Parent shall not amend the Equity Contribution Agreement, other than amendments that could not reasonably be expected to adversely
impair the rights or remedies of the Note Holders or Agent with respect to the Equity Contribution Agreement pursuant to subsection 9.18A. 
  

	SECTION 10	EVENTS OF DEFAULT; REMEDIES 

 10.1 Events of Default 

Each of the following events, acts, occurrences or conditions shall constitute an Event of Default under this Agreement and the other Note
Documents, regardless of whether such event, act, occurrence or condition is voluntary or involuntary or results from the operation of Requirements of Law or pursuant to or as a result of compliance by any Person with any judgment, decree, order,
rule or regulation of any Governmental Authority: 
 A. Failure to Make Payments. Issuer or any other Note Document Party shall
(i) default in the payment when due of any interest, Fees, Yield Maintenance Amount or any other Note Obligations (other than principal (including all amounts added to principal pursuant to subsection 3.2B(iii)) of the Notes) for more
than three (3) Business Days after such due date, or (ii) default in the payment when due of any principal (including all amounts added to principal pursuant to subsection 3.2B(iii)) of the Notes, including any mandatory prepayments
required hereunder; provided that if failure to pay such principal occurs due to a purely administrative error, Issuer shall have three (3) Business Days after the applicable due date to cure such failure. 

B. Breach of Representation or Warranty. Any representation, warranty or certification by any Note Document Party under this Agreement
or any other Note Document or in any certificate furnished by any Note Document Party pursuant to any Note Document shall prove to have been false in any material respect, unless, if such false representation, warranty or certification (and the
effect thereof) is capable of being cured within 60 days, such Person cures such false representation, warranty or certification (and any effect thereof) within 60 days of becoming aware thereof. 

C. Breach of Covenants. 

(i) Any Note Document Party shall fail to perform or observe any term, covenant or agreement contained in (a) subsection 6.3A,
subsection 6.6B, subsection 6.10B, subsection 6.13A, subsection 7.2, subsection 7.3, subsection 7.5, subsection 7.6, subsection 7.11, subsection 7.15 or subsection 7.17 of
this Agreement, (b) Section 6(d), Section 6(e) or Section 6(g) of either Pledge Agreement or (c) subsection 2.3, provided that to the extent such breach of subsection 2.3 results due to a purely
administrative error, Issuer shall have three (3) Business Days to cure such failure. 

  
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 (ii) Any Subject Company shall (a) fail to perform or observe any term, covenant or
agreement contained in subsection 6.8, subsection 7.4A, subsection 7.8, subsection 7.10, subsection 7.13, subsection 7.14, subsection 7.16 or subsection 8.1, (b) fail in any material
respect to perform or observe any term, covenant or agreement contained in subsection 7.1, subsection 7.7 or subsection 7.12, and, in each case of clauses (a) and (b), such failure shall remain unremedied for
ten (10) Business Days after the earlier of the date on which (x) any officer of Issuer becomes aware of such failure or (y) written notice thereof shall have been given to Issuer by Agent, Collateral Agent or any Note Holder;
provided that to the extent any breach of subsection 6.8, subsection 7.8 or subsection 7.16 occurs due to a purely administrative error, Issuer shall have an additional three (3) Business Days to cure such failure.

 (iii) Any Subject Company shall (a) fail to perform or observe any term, covenant or agreement contained in subsection 6.9
or (b) fail in any material respect to perform or observe any term, covenant or agreement contained in subsection 6.7, subsection 7.4B or subsection 8.5, and in each case of clauses (a) and (b), such
failure shall remain unremedied for thirty (30) days after the earlier of the date on which (x) any officer of Issuer becomes aware of such failure or (y) written notice thereof shall have been given to Issuer by Agent, Collateral
Agent or any Note Holder. 
 (iv) Any Note Document Party shall fail in any material respect to perform or observe any term, covenant or
agreement contained in any Note Document on its part to be performed or observed (other than any term, covenant or agreement contemplated by subsections 10.1A, B, 10.1C(i), 10.1C(ii) and 10.1C(iii) above) if such
failure shall remain unremedied for 30 days after the earlier of the date on which (A) any officer of Issuer and, if applicable, such other Note Document Party becomes aware of such failure or (B) written notice thereof shall have
been given to Issuer and, if applicable, such other Note Document Party by Agent, Collateral Agent or any Note Holder; provided, however, that, if (1) such failure does not involve the payment of money to any Person and cannot be
cured in such 30-day period, (2) such failure is susceptible of cure within 90 days, (3) the Note Document Parties are proceeding with diligence and in good faith to cure such failure, (4) the existence of such failure has not had and
would not, after considering the nature of the cure, reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, and (5) Agent shall have received a certificate signed by a Responsible Officer of Issuer to the
effect of clauses (1), (2), (3) and (4) above and stating what action the Note Document Parties are taking to cure such failure, then such 30-day cure period shall be extended to a total of 90 days. 

D. Fundamental Events of Default. 

(i) Any Fundamental Event of Default shall occur; or 

(ii) Any other event shall occur or condition shall exist under any agreement or instrument relating to Debt under the CCH Senior Financing
or any Material Debt and shall continue after the applicable grace period, if any, specified in such agreement or instrument, and the effect of such event or condition is to accelerate such CCH Senior Financing Debt or Material Debt or the maturity
of such CCH Senior Financing 

  
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Debt or Material Debt, or such CCH Senior Financing Debt or Material Debt shall be declared to be due and payable or required to be prepaid or redeemed, it being understood that if any of the
preceding circumstances occurs and any Issuer Party subsequently cures or remedies such occurrence or condition or such occurrence or condition is waived, for all purposes hereof such occurrence or condition shall not constitute a Default or Event
of Default under this Agreement unless Agent or Collateral Agent has begun to exercise remedies under the Note Documents prior to the date it receives from Issuer written notice of such cure. 

E. Bankruptcy, Etc. Any Issuer Party shall be subject to a Bankruptcy Event. 

F. Judgments. 
 (i) Any
unsatisfied final judgments, either individually or in the aggregate, for the payment of money in excess of $120,000,000 shall be rendered against any Subject Company and either (a) enforcement proceedings shall have been commenced by any
creditor upon such judgment or (b) there shall be any period of 60 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, shall not be in effect; provided, however,
that any such judgment shall not give rise to an Event of Default under this subsection 10.1F(i) if and for so long as (1) the amount of such judgment is covered by a valid and binding policy of insurance in favor of such Subject Company
from an insurer that is rated at least “A” by A.M. Best Company, which policy covers full payment thereof (other than the greater of the applicable deductible or $120,000,000) and (2) such insurer has been notified, and has not
disputed the claim made for payment, of the amount of such judgment. 
 (ii) Any non-monetary final judgment shall be rendered against any
Subject Company that would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, and there shall be any period of 60 consecutive days during which a stay of enforcement of such judgment, by reason of a
pending appeal or otherwise, shall not be in effect. 
 G. Invalidity of Note Documents. 

(i) Any material provision of any Note Document after delivery thereof (i) is expressly repudiated in writing by any Note Document
Party, (ii) shall have been terminated (other than pursuant to the terms thereof following discharge in full of all obligations thereof or otherwise by agreement in writing of the parties thereto not as a result of an Event of Default
hereunder) or (iii) is declared unenforceable in a final judgment of a court of competent jurisdiction against any Note Document Party and such unenforceability (subject to applicable Reservations) is not cured within five Business Days
following the date of entry of such judgment; provided that such five-Business Day period shall apply only so long as the relevant party is attempting in good faith to cure such unenforceability. 

(ii) Any Security Document or financing statement in respect thereof after delivery thereof shall for any reason (other than pursuant to the
terms thereof) cease to create a valid and perfected first priority lien (subject to Excepted Liens) in favor of the 

  
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Collateral Agent or any other Secured Party on and security interest in the Collateral purported to be covered thereby, other than to the extent that (a) any such loss of the validity,
perfection or priority results from the failure of the Collateral Agent to maintain possession of certificates actually delivered to it representing securities pledged under the Pledge Agreement, or (b) such loss of validity, perfection or
priority results from the failure of the Collateral Agent any Depositary Bank, Securities Intermediary or Agent to take any action required to be taken by it pursuant to the terms of the Security Documents to maintain such validity, perfection or
priority (unless such failure results from or is attributable to any failure of a Note Document Party to cooperate with such actions). 

H. ERISA EVENT. The occurrence of one or more ERISA Events which individually or in the aggregate would reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect. 
 10.2 Remedies 

A. Acceleration. (i) Upon the occurrence of any Event of Default described in subsection 10.1E with respect to Parent or
Issuer, the unpaid principal amount of the Notes (including all amounts added to principal pursuant to subsection 3.2B(iii)) and all accrued and unpaid interest on the Notes (including all interest thereon accrued at the Default Interest
Rate), the Yield Maintenance Amount and any and all accrued Fees and other Note Obligations shall automatically become immediately due and payable, without presentment, demand, protest or other requirements of any kind, all of which are hereby
expressly waived by Issuer and (ii) upon the occurrence and during the continuation of any other Event of Default (other than any Fundamental Event of Default, the remedies in respect of which are set forth in subsection 10.2C), at the
direction of the Required Note Holders Agent will, by written notice to Issuer, declare all or any portion of the amounts described in clause (i) above to be, and the same shall further become, immediately due and payable, without
presentment, further demand, protest or other requirements of any kind, all of which are hereby expressly waived by Issuer. 
 B.
Rescission. At any time after any Notes have been declared due and payable pursuant to clause (ii) of subsection 10.2A or subsection 10.2C, the Required Note Holders, by written notice to Agent and Issuer, may rescind
and annul any such declaration and its consequences if (a) the Issuer has paid all overdue interest on the Notes, all principal of and the Yield Maintenance Amount, if any, on any Notes that are due and payable and are unpaid other than by
reason of such declaration, and all interest on such overdue principal and Yield Maintenance Amount, if any, and (to the extent permitted by applicable law) any overdue interest in respect of the Notes, at the Default Interest Rate and any other
Note Obligations then due and payable, (b) all Events of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to subsection 12.6,
and (c) no judgment or decree has been entered for the payment of any monies due pursuant hereto or to the Notes. No rescission and annulment under this subsection 10.2B will extend to or affect any subsequent Event of Default or Default
or impair any right consequent thereon. 
 C. Fundamental Events of Default. If any Fundamental Event of Default is not cured within
180 days following the date on which notice of such Fundamental Event of 

  
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Default is delivered to the lenders under the CCH Senior Financing or other Permitted Senior Debt or, with respect to a Fundamental Event of Default described in clause (a)(v) of the
definition of “Fundamental Event of Default,” such later date on which such Fundamental Event of Default is deemed to occur hereunder (subject to the proviso of this sentence), at the direction of the Required Note Holders Agent will, by
written notice to Issuer, declare the unpaid principal amount of the Notes (including all amounts added to principal pursuant to subsection 3.2B(iii)) and all accrued and unpaid interest on the Notes (including all interest thereon accrued at
the Default Interest Rate), the Yield Maintenance Amount and any and all accrued Fees and other Note Obligations to be, and the same shall further become, immediately due and payable, without presentment, further demand, protest or other
requirements of any kind, all of which are hereby expressly waived by Issuer; provided that in the event of any Fundamental Event of Default arising under the provisions of the CCH Senior Financing Documents that correspond to
Section 3.16.1(l) of the CCH Senior Financing Term Sheet, or if the CCH Senior Financing has been repaid prior to the Discharge Date, the corresponding provision, if any, of the largest principal amount of then-outstanding Permitted Senior Debt
of the Project Entities, has been subject to any waiver, forbearance agreement or other agreement, such 180-day period shall be deemed to have commenced as of the date such waiver, forbearance agreement or other similar agreement was first provided
under the CCH Senior Financing. 
 D. General Remedies. Upon any acceleration of the Note Obligations pursuant to the terms of this
subsection 10.2, Issuer shall be obligated to pay to Note Holders, in addition to the other amounts then due and payable, the Yield Maintenance Amount, determined in accordance with subsection 3.3D as though the principal amount of the
Notes becoming due, or declared to be due and payable, on such date had been voluntarily prepaid on such date. For the avoidance of doubt, the Yield Maintenance Amount payable under this Agreement shall be due on any acceleration of the Note
Obligations pursuant to this subsection 10.2. In addition to the foregoing, upon the occurrence and during the continuance of any Event of Default, at the request of the Required Note Holders Agent shall, or following the acceleration of the
Note Obligations pursuant to subsection 10.2A(i) Agent may, (a) exercise or direct Collateral Agent to exercise all of its rights as a secured party under the Security Documents, under applicable Requirements of Law or otherwise (and all
remedial provisions in the Security Documents are hereby incorporated by reference), (b) apply all amounts on deposit in any account subject to an Account Control Agreement to the Note Obligations in such order as it shall select in
Agent’s sole discretion and (c) take any and all action permitted under applicable Requirements of Law. 
 E. Voting
Rights. Issuer covenants and agrees that, from and after the occurrence of any Event of Default, without the consent of the Required Note Holders, Issuer shall not, and shall not permit any of its Subsidiaries to:  

(i) authorize or issue any additional equity (including any rights or warrants to acquire any additional equity) other than the authorization
of and issuance of additional equity to Parent, Issuer or any of Issuer’s wholly owned Subsidiaries (provided that the Issuer shall not issue any of its equity to its Subsidiaries) or take any action that would alter the preferences,
rights or privileges of any class of its existing equity of Issuer or any of its Subsidiaries; 

  
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 (ii) amend or waive any provision of the Constituent Documents of Issuer or any of its
Subsidiaries to the extent such amendment or waiver would have a material adverse impact on the Note Holders; 
 (iii) make any Restricted
Payment to the equity holders of Issuer (other than any payment to Parent or any Affiliate of Parent or Issuer in accordance with subsection 7.8B); 

(iv) (1) sell or dispose of, or cause a Material Subsidiary of Issuer to sell or dispose of, directly or indirectly, (x) all or
substantially all of its Property, (y) a material portion of the Equity Interests of a Material Subsidiary or (z) any Train, in each case, to one or more Persons that are not wholly owned Subsidiaries of Issuer or such Subsidiary or a
related series of transactions that, taken together, result in any such sale or disposition, (2) consolidate or merge Issuer or any Material Subsidiary of Issuer with or into any other Person or otherwise acquire (including by acquisition of
stock or assets) any interest in any Person or any unit or division thereof or (3) enter into, or cause any Subsidiary of Issuer to enter into, any joint venture or partnership with any other Person, in each case, other than transactions
between or among wholly owned subsidiaries of Issuer; 
 (v) liquidate, dissolve or wind up Issuer or any Material Subsidiary of Issuer, or
file or commence any case, proceeding or other action under any Bankruptcy Law or seek an appointment of a receiver, trustee, custodian or any similar person for Issuer or any Subsidiary of Issuer; 

(vi) redeem, repurchase or otherwise acquire (or pay into or set aside for a sinking fund for such purpose) any Equity Interests of Issuer or
any Subsidiary of Issuer; 
 (vii) take any action that results in a material change in the nature of the business of Issuer or its
Subsidiaries; 
 (viii) authorize or effect an initial public offering of any Subsidiary of Issuer; 

(ix) settle any legal claims (whether in litigation, arbitration or mediation) against Issuer or a Subsidiary, in each case for an amount
payable by Issuer or such Subsidiary of Issuer in excess of $250,000,000; 
 (x) incur, or cause a Subsidiary of Issuer to incur, any
obligations for borrowed money, obligations evidenced by a bond, note or other evidence of debt, provide a guarantee (directly or indirectly) of the obligations of any other Person or otherwise grant any lien on any assets of Issuer or such
Subsidiary, or amend, modify, extend or suspend performance under any agreement documenting the foregoing; provided that this subsection shall not apply to any indebtedness permitted under the Permitted Senior Debt; 

(xi) enter into, or cause any Subsidiary of Issuer to enter into, any transaction with an Affiliate; provided that no such consent
shall be required in connection with any transaction with Affiliates permitted under the Permitted Senior Debt Documents; 

  
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 (xii) establish or amend material accounting policies of Issuer or any Material Subsidiary of
Issuer or change the identity of the independent auditor of Issuer or any Material Subsidiary of Issuer; 
 (xiii) increase or decrease the
size of the board of directors or managers of Issuer, if applicable; or 
 (xiv) make any new or change or revoke any tax election of
Issuer or any Subsidiary of Issuer to the extent that such tax election would have an adverse impact on the Note Holders. 
 F. The
remedies set forth in this Section 10 are in addition to all other rights and remedies available to Note Holders or Agent under this Agreement, any other Note Document or by law or equity. 

10.3 Issuance of Additional Notes 

If any Project Entity fails to meet any material financial obligation to the lenders under the CCH Senior Financing or any other
Permitted Senior Debt, or to any third party under any Material Project Agreement or otherwise in respect of the payment of Project Costs, Issuer shall give Agent prompt (and in any event, within one (1) Business Day thereafter in the case of
any failure to pay obligations thereunder or breach of any financial covenant contained therein, or (ii) three (3) Business Days thereafter in the case of any other breach or default thereunder) written notice of such failure (including a
description thereof, the amount of such defaulted financial obligations and the action or actions such Project Entity or any other Issuer Party plans to take with respect thereto) and following expiration of any applicable cure period (as the same
may be extended) Issuer shall give Agent prompt written notice that such failure has not been cured and the Note Holders shall have the right, in their sole discretion, to pay all (but not less than all) of such defaulted amount, within
20 Business Days of the date of such second notice, directly to the lenders under the CCH Senior Financing or any other Permitted Senior Debt or to such third party, or to pay such amount to Issuer (in which case Issuer shall contribute such
amount to CCH Direct Parent, cause CCH Direct Parent to contribute such amount to CCH and cause CCH to use such amount for the payment of such defaulted amount) (any amount so paid by the Note Holders pursuant to this subsection 10.3, the
“Funded Amount”) and Issuer shall issue to the Note Holders electing to fund such Funded Amount, convertible promissory notes hereunder of a new tranche (“Additional Notes”) having the identical provisions as the
Initial Notes other than the (i) date of issuance and the initial Quarterly Payment Date, (ii) interest rate, which shall be as set forth in subsection 3.2B(i) and (iii) conversion rate, which shall be as set forth in
subsection 9.8. Following the expiration of any applicable cure period (as the same may be extended) and until the expiration of the 20 Business Day period following receipt of notice thereof, in each case, referred to in the preceding
sentence, Issuer shall (and shall cause each other Issuer Party to) use commercially reasonable efforts to facilitate Agent’s or any Note Holder’s attempt to cure any such default or event of default, and Issuer shall not (and shall cause
each other Subject Company and Project Entity not to) object, interfere with or impede in any manner any such attempt. 

  
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	SECTION 11	TERMINATION 

 11.1 Right to Terminate 

Notwithstanding anything to the contrary set forth in this Agreement, this Agreement may be terminated and the transactions contemplated
herein abandoned at any time prior to the Closing: 
 A. by mutual written consent of Issuer and the Agent at any time prior to the
issuance of the Initial Notes; 
 B. by Agent upon the initial advance of funds under the CCH Senior Financing Documents
without the occurrence of the Closing hereunder; 
 C. by Issuer or Agent, if: 

(i) the Closing shall not have been consummated on or before June 30, 2015 (the “Outside Date”); provided,
however, that neither Issuer, on the one hand, nor Agent or the Note Purchasers, on the other hand, shall be entitled to terminate this Agreement under this subsection 11.1C(i) if such Person’s breach of any provision of this
Agreement shall have been the cause of, or otherwise resulted in, the failure of the Closing to occur on or before the Outside Date; or 

(ii) at any time prior to the issuance of the Initial Notes, a court of competent jurisdiction or other Governmental Authority shall have
issued a final, non-appealable order, decree or ruling permanently restraining, enjoining or otherwise prohibiting the Transaction provided that the Person seeking to terminate this Agreement pursuant to this subsection 11.1C(ii) shall
have complied in all material respects with the further assurances obligations described in subsection 6.7; or 
 D. by the
Agent, if any Note Document Party shall have materially breached any of its representations or warranties in any Note Document or materially failed to perform any of its covenants in the Note Documents such that the conditions set forth in
subsection 4.1 are not capable of being satisfied and such breach on or failure to perform shall not have been cured or waived prior to the earlier of (A) 30 days following notice of such breach or failure to the Note Holders and
(B) the Outside Date; provided that the Agent and the Note Purchasers shall not have the right to terminate this Agreement pursuant to this subsection 11.1D if the Note Purchasers are then in material breach of any of their
representations or warranties in this Agreement or have failed to perform in any material respect any of their covenants in this Agreement. 

11.2 Effect of Termination 

In the event that the Closing Date does not occur as a result of any party hereto exercising its rights to terminate this Agreement pursuant
to this Section 11, then this Agreement shall be null and void and, except as otherwise expressly provided herein, no Person shall have any rights or obligations under this Agreement, except that nothing herein shall relieve any party
hereto from liability for any willful and intentional breach by such party of its representations, 

  
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warranties, obligations, covenants and agreements set forth in this Agreement. In the event the termination of this Agreement results from any willful and intentional breach by a party of its
representations, warranties, obligations, covenants and agreements set forth in this Agreement, then the other parties shall be entitled to all remedies available at law or in equity and shall be entitled to recover court costs and reasonable
attorneys’ fees in addition to any other relief to which such parties may be entitled. In the event that a party hereto willfully and intentionally breaches its representations, warranties, obligations, covenants and agreements set forth in
this Agreement, the remedies available to the other parties in equity shall include specific performance (without the requirement of posting a bond or other security) and such other remedies as may be available to the other parties at law.
Notwithstanding the termination of this Agreement prior to the Closing, (i) section 13 of the Commitment Letter (and the other applicable provisions referenced in such section 13) shall remain in full force and effect except to the
extent superseded by the provisions of this Agreement and (ii) Issuer shall be responsible to reimburse the fees and expenses of Agent in accordance with subsection 12.2A. 

 

	SECTION 12	MISCELLANEOUS 

 12.1 Registration and Transfer of the Notes 

A. Agent, acting for this purpose as an agent for Issuer, shall keep at its principal office a register (the “Note
Register”) for the registration and registration of transfers of the Notes. The name and address of each Note Holder, the principal amount of the Notes and stated interest owing to each Note Holder, each transfer of Notes and the name and
address of each Transferee of any holder’s interest in the Notes shall be contained in the Note Register. The entries in the Note Register shall be deemed conclusive absent manifest error, and Issuer, Agent and the Note Holders shall treat each
Person whose name is recorded in the Note Register pursuant to the terms hereof as a Note Holder hereunder for all purposes of this Agreement and each other Note Document. Agent, acting for this purpose as an agent for Issuer, shall give to any
holder of a Note and Issuer promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders of Notes.  

Note Holders may at any time sell, assign, transfer or grant participations in the Notes to any Person that is an “accredited
investor” within the meaning of Rule 501(a) of Regulation D under the Securities Act by complying with the transfer procedures set forth in subsection 12.1B below (in the case of any sale, assignment or transfer); provided
that (i) the EIG Note Holders shall, at all times prior to the Commercial Operation Date, hold at least 66 2⁄3% of the aggregate principal amount of the
outstanding Notes (provided that the granting of a participation shall not be deemed to the reduce the principal amount of Notes held by a Note Holder), (ii) no sale, assignment, transfer of or grant of a participation in the Notes shall
be permitted unless the transaction complies with applicable “blue sky” or state securities laws, (iii) any such Transferee, or purchaser, grantee or transferee of a participation, shall provide customary representations as to the
source of funds being used to purchase the Notes or participation being transferred to it, (iv) no Transferee or holder of a participation shall constitute a Disqualified Note Holder, (v) unless (x) a Default or Event of Default has
occurred and is continuing or (y) such sale or assignment is to an existing Note Holder or to any fund, account or company managed by EIG MC or any of its controlled Affiliates (which, in either event, shall not require such consent), Issuer
shall have provided its prior written consent to such sale, assignment, transfer or 

  
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participation (such consent not to be unreasonably withheld, conditioned or delayed and which shall be deemed given if Issuer has not responded within five (5) Business Days of a request for
such consent) and (vi) any Transferee or holder of a participation shall, as a condition to its acquiring any Note or a participation therein, acknowledge and agree to be bound by the terms of subsection 12.22. Any sale, assignment,
transfer of or grant of a participation in violation of the preceding sentence shall be null and void ab initio and shall not be recorded on the Note Register. Furthermore, the parties to each assignment shall pay to Issuer a processing and
recordation fee of $1,000 (which fee may be waived or reduced in the sole discretion of Issuer). Issuer hereby acknowledges and agrees that any sale, assignment or transfer of the Notes will give rise to a direct obligation of Issuer to the
Transferee. Any holder of a participation in the Notes shall have no right to consent or vote on any matters hereunder other than with respect to (i) the extension of any scheduled payment of principal (including all amounts added to principal
pursuant to subsection 3.2B(iii)) or interest in respect of the Notes, (ii) the reduction of the amount of any scheduled payment of principal (including all amounts added to principal pursuant to subsection 3.2B(iii)),
(iii) a decrease in the rate of interest on the Notes (as specified in the Notes), (iv) the termination of any Note Document except in accordance with its terms or (v) the release of all or substantially all of the Collateral securing
the Notes other than in accordance with the terms of the Note Documents; provided, however, that the restrictions set forth in this sentence shall not apply in respect of such waiver or amendment required by any applicable Requirement
of Law or request of any Governmental Authority (including in connection with any actual or proposed reorganization, restructuring, bankruptcy, insolvency, or other similar event affecting Issuer or any other party to any Security Document). Issuer
agrees that each participant shall be entitled to the benefits of subsection 3.5, subsection 3.7, and subsection 12.2 (subject to the requirements and limitations therein, including the requirements under subsection 3.5F
(it being understood that the documentation required under subsection 3.5F shall be delivered to the participating Note Holder)) to the same extent as if it were a Note Holder and had acquired its interest on the Closing Date;
provided, that a participant shall not be entitled to receive any greater payment under subsection 3.5 with respect to Indemnified Taxes than the applicable Note Holder would have been entitled to receive with respect to the
participation sold to such participant, except the extent such entitlement to receive a greater payment results from a Change in Law that occurs after the participant acquired the applicable participation. Each Note Holder that sells a participation
shall, acting solely for this purpose as a non-fiduciary agent of Issuer, maintain a register on which it enters the name and address of each participant and the principal amounts (and stated interest) of each participant’s interest in the
Notes or other Obligations under the Note Documents (the “Participant Register”); provided, that no Note Holder shall have any obligation to disclose all or any portion of the Participant Register (including the identity of
any participant or any information relating to a participant’s interest in any Notes or other Obligations under any Note Document) to any Person except to the extent that such disclosure is necessary to establish that such Note or other
Obligation is in registered form under Treasury Regulations Section 5f.103-1(c). The entries in the Participant Register shall be conclusive absent manifest error, and such Note Holder shall treat each Person whose name is recorded in the
Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. 

B. Upon surrender of any Note at the principal office of Issuer for registration of transfer or exchange (and in the case of a
surrender for registration of transfer, duly endorsed or accompanied by a written instrument of transfer duly executed by the registered holder of 

  
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such Note or his attorney duly authorized in writing and accompanied by the address for notices and payment instructions of each Transferee of such Note or part thereof and a representation by
each such Transferee that such Transferee is a Permitted Transferee), within five Business Days thereafter Issuer shall execute and deliver, at Issuer’s expense, one or more new Notes (as requested by the holder thereof) in exchange therefor,
in an aggregate principal amount equal to the unpaid principal (including all amounts added to principal pursuant to subsection 3.2B(iii)) amount of the surrendered Note. Each such new Note shall be substantially in the form of Exhibit A-1 or A-2, as applicable, and shall be payable to such Person as such holder may request. Each such new Note shall be dated and bear interest from the
date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon. Notes shall not be transferred in denominations of less than $1,000,000, provided that
if necessary to enable the registration of transfer by a Note Holder of its entire holding of Notes, one Note may be in a denomination of less than $1,000,000. Any Transferee, by its acceptance of a Note registered in its name (or the name of its
nominee), shall be deemed to have made the representations set forth in subsection 12.10 and to have agreed to be bound by, and adhere to, the obligations of the Note Holders hereunder, including those set forth in subsection 12.22.

 C. Upon receipt by Issuer of evidence reasonably satisfactory to Issuer of the ownership of and loss, theft, destruction or
mutilation of any Note, and (i) in the case of loss, theft or destruction, upon receipt of an unsecured agreement of indemnity from any Note Holder that is a Qualified Institutional Buyer or, in the case of any other Note Holder, an indemnity
bond, in each case in such reasonable amount as Issuer shall determine, or (ii) in the case of mutilation, upon surrender and cancellation thereof, Issuer at its own expense shall execute and deliver, in lieu thereof, a new Note, dated and
bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have been paid thereon. 

12.2 Payment of Expenses and Indemnity 

A. Issuer shall, whether or not the transactions hereby contemplated are consummated, pay all reasonable and documented out-of-pocket
costs and expenses of Agent, Collateral Agent and Note Holders in connection with (i) the negotiation, preparation, execution and delivery of the Note Documents and the documents and instruments referred to therein and any due diligence
investigation performed by Agent (including the reasonable and documented fees and expenses of counsel to Agent, including any local legal counsel as shall be reasonably necessary in connection with the Transactions, and, in accordance with
subsection 12.2B, other advisors to Agent), that have been incurred and invoiced through January 16, 2015, in an aggregate amount not to exceed $2,500,000 (and any such costs and expenses not actually invoiced and provided to Issuer by
January 16, 2015 shall be disregarded), (ii) with respect to costs and expenses incurred and invoiced after January 16, 2015, Closing and activities in anticipation of or precedent to Closing (including the reasonable and documented
fees and expenses of counsel to Agent, including any local legal counsel as shall be reasonably necessary in connection with the Transactions, and, in accordance with subsection 12.2B, other advisors to Agent; provided, however,
that any fees payable to Citigroup Global Markets Inc. in its role as advisor to EIG MC will be deemed to have been incurred and invoiced prior to January 16, 2015 without regard to when such costs are paid or payable), (iii) the
management and agenting of the 

  
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Notes, (iv) the creation, perfection or protection of Collateral Agent’s Liens in the Collateral (including reasonable fees and expenses for title and lien searches and filing and
recording fees), (v) participation by employees, officers or other representatives of Agent or Note Holders on boards of directors of any Issuer Party (as directors, observers or otherwise), (vi) any amendment, waiver or consent relating
to any Note Document (including as to each of the foregoing, the reasonable fees and disbursements of counsel to Agent or Collateral Agent, including any local legal counsel as shall be reasonably necessary, and any other attorneys retained by Agent
or Collateral Agent and reasonable allocated costs of internal counsel) and (vii) any amounts which Agent, Collateral Agent or Note Holders had paid relative to curing any Event of Default resulting from acts or omissions by any Note Document
Party under this Agreement or any other Transaction Document. Issuer shall also pay all reasonable and documented out-of-pocket costs and expenses of Agent, Collateral Agent and each Note Holder in connection with the preservation of rights under,
and enforcement or attempted enforcement of, the Note Documents and the documents and instruments referred to therein or in connection with any restructuring or rescheduling of the Note Obligations (including the fees and disbursements of counsel
for Agent, Collateral Agent and Note Holders). 
 B. Expense reimbursement under subsections 12.2A(i) and
(ii) shall include all reasonable and documented fees and expenses of engineers, environmental, fuel, insurance and other consultants and experts engaged by or for the benefit of Agent, Collateral Agent or Note Holders, including in
connection with preparing any reports or any inspections. 
 C. Issuer shall indemnify Agent, Collateral Agent and each Note Holder
and their Affiliates and their respective officers, directors, employees, partners, members, representatives and agents (each an “Indemnitee”) from, and hold each of them harmless against, any and all losses, liabilities, claims,
damages, expenses, obligations, penalties, actions, judgments, suits, costs or disbursements of any kind or nature whatsoever (including the reasonable fees and disbursements of counsel for such Indemnitee in connection with any investigative,
administrative or judicial proceeding commenced or threatened, whether or not such Indemnitee shall be designated a party thereto) (collectively, “Subject Claims”) that may at any time (including at any time following the Discharge
Date) be imposed on, asserted against or incurred by any Indemnitee as a result of, or arising out of, or in any way related to or by reason of, (i) any of the transactions contemplated hereby or the execution, delivery or performance of any
Note Document or any other Transaction Document, (ii) use of the proceeds of the Notes, (iii) any violation by any Issuer Party or any of its Affiliates of any applicable Environmental Law or Environmental Permit, (iv) any
Environmental Claim arising out of the management, use, control, ownership or operation of property or assets by any Issuer Party or any of its Affiliates, including all on-site and off-site activities involving Hazardous Materials, (v) any
actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by Issuer or any other Issuer Party or (vi) the
grant to Agent and Secured Parties of any Lien in any property or assets of any Note Document Party or any Equity Interest in any Subject Company or (vii) the exercise by Agent and Secured Parties of their rights and remedies (including
foreclosure or otherwise realization of any or all of the Collateral) under any agreements creating any such Lien; provided that Issuer shall not be liable to any Indemnitee under this subsection 12.2C to the extent any loss,
liability, claim, damage, expense, obligation, penalty, action, judgment, suit, cost or disbursement (x) results from the bad faith, gross negligence or willful 

  
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misconduct of an Indemnitee (to the extent determined by a court of competent jurisdiction in a final and non-appealable judgment), or (y) arises from any dispute solely among Indemnitees,
except to the extent resulting or arising from any act or omission by any Issuer Party or any of its Affiliates. Notwithstanding anything to the contrary in this Agreement, the indemnification obligations of Issuer in respect of any loss, liability,
claim, damage, expense, obligation, penalty, action, judgment, suit, cost or disbursement under this Agreement or any other Note Document shall not, under any circumstances, be construed to include any loss of profits, diminution in value, loss of
investment income, goodwill, reputation, business opportunity or anticipated saving, or special, indirect, consequential or punitive damages (except for any such special, indirect, consequential or punitive damages included in any third-party claim
in connection with which such Indemnitee is entitled to indemnification). 
 D. If any Indemnitee is entitled to indemnification
under subsection 12.2C with respect to any action or proceeding brought by a third party that is also brought against Issuer or any of its Affiliates, Issuer shall be entitled to assume the defense of any such action or proceeding with
counsel reasonably satisfactory to the Indemnitee. Upon assumption by Issuer of the defense of any such action or proceeding, the Indemnitee shall have the right to participate in such action or proceeding and to retain its own counsel but Issuer
shall not be liable for any legal expenses of other counsel subsequently incurred by such Indemnitee in connection with the defense thereof unless (i) Issuer agrees to pay such fees and expenses, (ii) Issuer fails to employ counsel
reasonably satisfactory to the Indemnitee in a timely manner, or (iii) the Indemnitee is advised by counsel that there are actual or potential conflicting interests between Issuer and the Indemnitee, including situations in which there are one
or more legal defenses available to the Indemnitee that are different from or additional to those available to Issuer. Issuer shall not consent to the terms of any compromise or settlement of any action defended by Issuer in accordance with the
foregoing without the prior consent of the Indemnitee unless (a) such compromise or settlement (x) includes an unconditional release of each Indemnitee from all liability and claims in respect of such third-party action and (y) does
not include a statement as to any admission of fault, culpability or a failure to act by or on behalf of the Indemnitee and (b) all liabilities, reimbursement of expenses or other amounts owed to the Indemnitee under subsection 12.2C
have been paid or reimbursed in full. 
 E. Issuer’s obligations under this subsection 12.2 shall survive the Discharge
Date and the termination of this Agreement. 
 F. Any amounts payable by Issuer pursuant to this subsection 12.2 shall be
regularly payable within ten (10) days of the date Issuer receives an invoice for such amounts from any applicable Indemnitee. 
 G.
To the extent that the undertaking to indemnify, pay and hold harmless set forth in this subsection 12.2 may be unenforceable because it violates any applicable Requirement of Law or public policy, Issuer shall contribute the maximum
portion which it is permitted to pay and satisfy under any applicable Requirement of Law or public policy to the payment and satisfaction of all Subject Claims incurred by the Indemnitees or any of them. 

H. To the extent permitted by applicable Requirements of Law, Issuer shall not, and shall cause each other Issuer Party not to assert,
and Issuer hereby waives, and shall 

  
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cause each other Issuer Party to waive, any claim against Agent, Collateral Agent and any Note Holder, directors, employees, attorneys, agents or sub-agents, on any theory of liability, for
special, indirect, consequential or punitive damages (as opposed to direct or actual damages) (whether or not the claim therefor is based on contract, tort or duty imposed by any applicable legal requirement) arising out of, in connection with,
arising out of, as a result of, or in any way related to, this Agreement or any other Note Document or Transaction Document or any agreement or instrument contemplated hereby or thereby or referred to herein or therein, the transactions contemplated
hereby or thereby, the use of the proceeds of the Notes or any act or omission or event occurring in connection therewith, and Issuer hereby waives, releases and agrees not to sue upon any such claim or any such damages, whether or not accrued and
whether or not known or suspected to exist in its favor. 
 I. This subsection 12.2 shall not apply with respect to
Indemnified Taxes addressed in subsection 3.5 or payments contemplated under subsection 3.7 or with respect to Excluded Taxes. 

J. The indemnification provisions of this subsection 12.2 shall continue to apply in favor of any Indemnitee notwithstanding
that such Person shall no longer be the Agent, the Collateral Agent or a Note Holder, or an officer, director, employee, partner, member, representative or agent thereof. The indemnification provisions of this subsection 12.2 shall apply
equally to any sub-agent or co-agent of Agent or Collateral Agent. 
 12.3 Right of Setoff 

In addition to any rights now or hereafter granted under applicable Requirements of Law or otherwise, and not by way of limitation of any such
rights, upon the occurrence and during the continuance of any Event of Default, each Note Holder is hereby authorized at any time or from time to time, without presentment, demand, protest or other notice of any kind to Issuer or to any other
Person, any such notice being hereby expressly waived, to set off and to appropriate and apply any and all deposits (general or special, time or demand, provisional or final) and any other indebtedness at any time held or owing by such Note Holder
to or for the credit or the account of Issuer against and on account of the Note Obligations of Issuer to such Note Holder under this Agreement or under any other Note Document, including all interests in Note Obligations purchased by such Note
Holder pursuant to subsection 12.7, and all other claims of any nature or description arising out of or in connection with this Agreement or any other Note Document, irrespective of whether or not such Note Holder shall have made any
demand hereunder and although said Note Obligations, liabilities or claims, or any of them, shall be contingent or unmatured. 
 12.4
Notices 
 Except as otherwise expressly provided herein (including in subsection 8.7), all notices, requests and demands
to or upon the respective parties hereto to be effective shall be in writing (including by facsimile or electronic mail), and shall be deemed to have been duly given or made when delivered by hand, or upon actual receipt if deposited in the mail,
postage prepaid, or, in the case of notice by facsimile or electronic mail, when confirmation is received, or, in the case of a nationally recognized overnight courier service, one Business Day after delivery to such

  
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courier service, addressed, in the case of each party hereto, at its address specified opposite its name on Schedule 12.4 or on the appropriate transfer instrument delivered to Issuer in
connection with the assignment of any Note or portion thereof, or to such other address as may be designated by any party in a written notice to the other parties hereto; provided that notices and communications to any party hereto or any
other Secured Party shall not be effective until received by such party or other Secured Party, as the case may be. With respect to any Person, if the address set forth opposite such Person’s name on Schedule 12.4 does not include an
e-mail address, any notice contemplated or required hereunder may not be provided to such Person by e-mail. 
 Unless Agent otherwise
prescribes with respect to itself or the Note Holders, or the Parent and Issuer otherwise prescribe with respect to themselves, notices and other communications sent to an e-mail address shall be deemed
received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written
acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next
Business Day for the recipient. 
 12.5 Successors and Assigns; Subsequent Holders of Notes 

This Agreement shall be binding upon the parties hereto and their respective permitted successors and assigns and shall inure to the benefit
of the parties hereto and the successors and permitted assigns of Note Holders. The terms and provisions of this Agreement shall inure to the benefit of any Permitted Transferee of any Notes, and in the event of such transfer or assignment, the
rights and privileges herein conferred upon Note Holders shall, subject to recordation of such transfer or assignment in the Note Register, automatically extend to and be vested in such Permitted Transferee, all subject to the terms and conditions
hereof. Issuer’s rights and interests hereunder may not be assigned without the prior written consent of all Note Holders. 
 Any
Person into which Collateral Agent may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which Collateral Agent shall be a party, or any Person succeeding to all or
substantially all of the corporate trust business of Collateral Agent, shall be the successor Collateral Agent hereunder without the execution or filing of any paper or any further act on the part of any of the Secured Parties hereto and Parent and
the Subject Companies shall promptly execute and deliver any such papers, authorize filings or take such further actions as Agent or such successor Collateral Agent shall request in order to reflect the successor Collateral Agent hereunder. 

12.6 Amendments and Waivers 

None of this Agreement, any Note, any other Note Document or any terms hereof or thereof may be amended, supplemented, modified or waived
except in accordance with the provisions of this subsection 12.6. Required Note Holders and the applicable Note Document Party may, from time to time, enter into written amendments or waivers of this Agreement, the Notes, or the other Note
Documents to which the Note Holders are parties, and, subject to the consent of the Required Note Holders, any Note Document to which the Note Holders are not 

  
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parties may be amended or waived; provided that no such amendment or waiver shall (i) extend either the Maturity Date or any scheduled payment of principal (including all amounts
added to principal pursuant to subsection 3.2B(iii)) or interest or decrease the rate of interest on the Notes (other than any imposition of the Default Interest Rate), or reduce the principal (including all amounts added to principal
pursuant to subsection 3.2B(iii)) amount of any Note Obligations or reduce any fee or Yield Maintenance Amount payable to Note Holders hereunder, or release any material portion of the Collateral (except as expressly permitted by the Security
Documents or this Agreement), or amend, modify or waive any provision of this subsection 12.6 or the definition of Required Note Holders, or consent to or permit the assignment or transfer by any Note Document Party of any of its rights and
obligations under this Agreement or any other Note Document, change the currency of the Note Obligations, or permit the issuance of additional Notes other than as contemplated by subsection 3.2B(iii) or 10.3, or change the number or
percentage of Note Holders who must approve the satisfaction of any condition precedent, or modify subsection 2.3, 3.2B(iii), 9.8 12.5 or 12.7, in each case without the written consent of all Note Holders or
(ii) amend, modify or waive any provision of subsection 12.9 or any other provision of any Note Document if the effect thereof is to affect the rights or duties of Agent or Collateral Agent without the written consent of the then Agent
or Collateral Agent, as applicable. Any such amendment, supplement, modification or waiver shall apply to each of the Note Holders equally and shall be binding upon each Note Document Party, Note Holder, Agent, Collateral Agent and all future
holders of the Notes. 
 12.7 Ratable Sharing 

Note Holders hereby agree among themselves that if any of them shall, whether by voluntary payment, by realization upon security,
through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any right under the Note Documents or otherwise, or pursuant to any bankruptcy or insolvency law, receive payment or
reduction of a proportion of the aggregate amount of principal, interest, fees and other amounts then due and owing to that Note Holder hereunder or under the other Note Documents (collectively, the “Aggregate Amounts Due” to such
Note Holder) which is greater than the proportion received by any other Note Holder in respect of the Aggregate Amounts Due to such other Note Holder, then Note Holder receiving such proportionately greater payment shall (i) notify each other
Note Holder of the receipt of such payment and (ii) apply a portion of such payment to purchase participations (which it shall be deemed to have purchased from each seller of a participation simultaneously upon the receipt by such seller of its
portion of such payment) in the Aggregate Amounts Due to the other Note Holders so that all such recoveries of Aggregate Amounts Due shall be shared by all Note Holders in proportion to the Aggregate Amounts Due to them; provided that if all
or part of such proportionately greater payment received by such purchasing Note Holder is thereafter recovered from such Note Holder upon the bankruptcy, insolvency or reorganization of Issuer or otherwise, those purchases shall be rescinded and
the purchase prices paid for such participations shall be returned to such purchasing Note Holder ratably to the extent of such recovery, but without interest. In no event shall this subsection 12.7 apply to, or require any ratable sharing in
respect of, shares or cash received in connection with a conversion pursuant to Section 9. Issuer expressly consents to the foregoing arrangement and agrees that any holder of a participation so purchased may exercise any and all rights
of banker’s lien, set-off or counterclaim with respect to any and all monies owing by Issuer to that holder with respect thereto as fully as if that holder were owed the amount of the participation held by that holder. 

  
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 12.8 Classification of Transaction 

Notwithstanding anything to the contrary herein contained, Note Holders, by entering into this Agreement or by any action pursuant hereto,
will not be, and neither Issuer nor Note Holders intend any Note Holder to be, deemed a partner or joint venturer with Issuer. 
 12.9
Agent and Collateral Agent 
 A. (i) EIG MC is hereby appointed by the Note Holders to act on behalf of all Note Holders
as Agent under this Agreement and the other Note Documents. The Bank of New York Mellon is hereby appointed by the Note Holders to act on behalf of all Note Holders as Collateral Agent under this Agreement and the Security Documents. The provisions
of this subsection 12.9 are solely for the benefit of Agent, Collateral Agent and Note Holders and no Note Document Party nor any other Person shall have any rights as a third party beneficiary of any of the provisions of this subsection
12.9 (other than subsection 12.9E, subsection 12.9F and subsection 12.9G). In performing its functions and duties under this Agreement and the other Note Documents, Agent and Collateral Agent shall each act solely as an
agent of Note Holders and does not assume and shall not be deemed to have assumed any obligation toward or relationship of agency or trust with or for any Issuer Party or any other Person. 

(ii) Each Note Holder irrevocably authorizes Agent and Collateral Agent to take such action on such Note Holder’s behalf and to exercise
such powers, rights and remedies hereunder and under the other Note Documents as are specifically delegated or granted to Agent or Collateral Agent, as applicable, by the terms hereof and thereof, together with such powers, rights and remedies as
are reasonably incidental thereto. Neither Agent nor Collateral Agent shall have any duties or responsibilities except for those expressly set forth in this Agreement and the other Note Documents. The duties of Agent and Collateral Agent shall be
mechanical and administrative in nature and neither Agent nor Collateral Agent shall have, or be deemed to have, by reason of this Agreement, any other Note Document or otherwise a fiduciary relationship in respect of any Note Holder. None of Agent,
Collateral Agent or any of their respective Affiliates nor any of their respective officers, directors, employees, agents or representatives shall be liable to any Note Holder for any action taken or omitted to be taken by it hereunder or under any
other Note Document, or in connection herewith or therewith, except for damages caused by its or their own gross negligence or willful misconduct. 

(iii) Each Note Holder hereby further authorizes Collateral Agent, on behalf of and for the benefit of Note Holders to enter into each
Security Document as secured party and to be Collateral Agent for and representative of Note Holders under such Security Document, and each Note Holder agrees to be bound by the terms of each Security Document and each Note Document; provided
that neither Agent nor Collateral Agent shall (a) enter into or consent to any material amendment, modification, termination or waiver of any provision contained in any Security Document or other Note Document or (b) release any Security
Document (except as otherwise expressly permitted or required pursuant to the terms of this Agreement or the applicable Security Document), in each case without the prior consent of 

  
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Required Note Holders (or, if required pursuant to subsection 12.6, all Note Holders); provided further, however, that, without further written consent or
authorization from Note Holders, Agent or Collateral Agent may execute any documents or instruments necessary to release any Lien encumbering any item of Collateral that is the subject of a sale or other disposition of assets permitted by this
Agreement or to which Required Note Holders have otherwise consented. Anything contained in any Note Documents to the contrary notwithstanding, Issuer, Agent, Collateral Agent and each Note Holder hereby agree that (1) no Note Holder shall have
any right individually to realize upon Collateral under any Security Document or to enforce any other Note Document, it being understood and agreed that all powers, rights and remedies under the Security Documents and the other Note Document may be
exercised solely by Agent or Collateral Agent for the benefit of Note Holders in accordance with the terms thereof and (2) in the event of a foreclosure by Agent or Collateral Agent on any Collateral pursuant to a public sale, Agent, Collateral
Agent or any Note Holder may be the purchaser of any or all of such Collateral at any such sale and Agent or Collateral Agent, as agent for and representative of Note Holders (but not any Note Holder or Note Holders in its or their respective
individual capacities unless Required Note Holders shall otherwise agree in writing) shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such
public sale, to use and apply any of the Note Obligations as a credit on account of the purchase price for any Collateral payable by Agent or Collateral Agent at such sale. 

(iv) If Agent or Collateral Agent shall request instructions from Required Note Holders or all affected Note Holders with respect to any act
or action (including failure to act) in connection with this Agreement or any other Note Document, then Agent or Collateral Agent, as applicable, shall be entitled to refrain from such act or taking such action unless and until in the case of Agent,
Agent shall have received written instructions from Required Note Holders or all affected Note Holders, as the case may be, and in the case of the Collateral Agent, Collateral Agent shall have received written instructions from Agent (acting at the
direction of the Required Note Holders or all affected Note Holders, as applicable) and Agent and Collateral Agent shall not incur liability to any Person by reason of so refraining. Agent or Collateral Agent shall be fully justified in failing or
refusing to take any action hereunder or under any other Note Document (a) if such action would, in the opinion of Agent or Collateral Agent, as applicable, be contrary to any Requirement of Law or the terms of this Agreement or any other Note
Document, (b) if such action would, in the opinion of Agent or Collateral Agent, as applicable, expose Agent to any Environmental Claim or liability or (c) if Agent or Collateral Agent, as applicable, shall not first be indemnified to its
satisfaction against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action. Without limiting the foregoing, no Note Holder shall have any right of action whatsoever against Agent or
Collateral agent as a result of Agent or Collateral Agent acting or refraining from acting hereunder or under any other Note Document in accordance with the instructions of Required Note Holders or all affected Note Holders, as applicable. 

B. Agent and Collateral Agent may perform any and all of their duties and exercise their respective rights and powers hereunder or
under any other Note Document by or through any one or more sub-agents or co-agents appointed by Agent or Collateral Agent, as applicable. Administrative Agent or Collateral Agent and any such sub-agent or co-agent may perform any and all of their
respective duties and exercise their respective rights and powers by 

  
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or through their respective Affiliates. The exculpatory provisions of this subsection 12.9 shall apply to any such sub-agent or co-agent and to the Affiliates of the Agent and Collateral
Agent and any such sub-agent or co-agent, and shall apply to their respective activities as well as the activities of the Agent and Collateral Agent. Neither Agent nor Collateral Agent shall be responsible for the negligence or misconduct of any
sub-agent or co-agent except to the extent that a court of competent jurisdiction determines in a final and non-appealable judgment that Agent or Collateral Agent, as applicable, acted with gross negligence or willful misconduct in the selection of
such sub-agent or co-agent. 
 C. None of Agent, Collateral Agent or any of their respective Affiliates nor any of their respective
directors, officers, agents or employees shall be liable for any action taken or omitted to be taken by it or them under or in connection with this Agreement or the other Note Documents, except for damages caused by its or their own gross negligence
or willful misconduct. Without limiting the generality of the foregoing, Agent and Collateral Agent: (i) may treat the payee of any Notes as the holder thereof until Agent receives written notice of the assignment or transfer thereof signed by
such payee and in form reasonably satisfactory to Agent; (ii) may consult with legal counsel, independent public accountants and other experts selected by it and shall not be liable for any action taken or omitted to be taken by it in good
faith in accordance with the advice of such counsel, accountants or experts; (iii) makes no warranty or representation to any Note Holder and shall not be responsible to any Note Holder for any statements, warranties or representations made in
or in connection with this Agreement or the other Note Documents; (iv) shall not have any duty to ascertain or to inquire as to the performance or observance of any of the terms, covenants or conditions of this Agreement or the other Note
Documents on the part of any Issuer Party or to inspect the Collateral (including the books and records) of any Note Document Party; (v) shall not be responsible to any Note Holder for the due execution, legality, validity, enforceability,
genuineness, sufficiency or value of this Agreement or the other Note Documents or any other instrument or document furnished pursuant hereto or thereto; and (vi) shall be entitled to rely upon, and shall incur no liability under or in respect
of, this Agreement or the other Note Documents by acting upon any notice, consent, certificate or other instrument or writing (which may be by facsimile or electronic mail) believed by it to be genuine and signed or sent by the proper party or
parties. Each of Agent and Collateral Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. 

D. Without prejudice to any existing agreement between Agent or Collateral Agent and any Note Holder, each Note Holder acknowledges
that: (i) it has, independently and without reliance upon Agent, Collateral Agent or any other Note Holder and based on the financial statements of the Subject Companies and the Project Entities and such other documents and information as it
has deemed appropriate, made its own credit and financial analysis of the Issuer Parties and its own decision to enter into this Agreement and the other Note Documents and (ii) it will, independently and without reliance upon Agent, Collateral
Agent or any other Note Holder and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement and the other Note Documents.

  
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 E. Note Holders agree to indemnify Agent and Collateral Agent (to the extent not
reimbursed by Issuer or other Note Document Parties and without limiting the obligations of any Note Document Party under any Note Document), ratably according to their respective Aggregate Amounts Due, from and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever that may be imposed on, incurred by, or asserted against Agent or Collateral Agent in any way relating to or
arising out of this Agreement or any other Note Document or any action taken or omitted to be taken by Agent or Collateral Agent in connection therewith; provided that no Note Holder shall be liable for any portion of such liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from Agent’s or Collateral Agent’s gross negligence or willful misconduct. Each Note Holder hereby authorizes each of Agent and
Collateral Agent to setoff and apply any amounts owing to such Note Holder under any Note Document or from any other source against such amounts due to Agent or Collateral Agent under this subsection 12.9E. Without limiting the foregoing,
each Note Holder agrees to reimburse Agent and Collateral Agent promptly upon demand for its ratable share of any out-of-pocket expenses (including counsel fees) incurred by Agent or Collateral Agent, as applicable, in connection with the
preparation, execution, delivery, administration, modification, amendment or enforcement (whether through negotiations, legal proceedings or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement and each other
Note Document, to the extent that Agent or Collateral Agent is not reimbursed for such expenses by Issuer or other Note Document Parties. 

F. Each of Agent and Collateral Agent may resign at any time by giving not less than thirty (30) days’ prior written notice
thereof to Note Holders and Issuer, and upon any such resignation, Required Note Holders shall have the right to appoint a successor Agent or Collateral Agent, as applicable. If no successor Agent or Collateral Agent shall have been so appointed by
Required Note Holders and shall have accepted such appointment within thirty (30) days after the resigning Agent’s or Collateral Agent’s giving notice of resignation, then the resigning Agent or Collateral Agent may, on behalf of Note
Holders, appoint a successor Agent or Collateral Agent, as applicable, which shall be a Note Holder if a Note Holder is willing to accept such appointment. If no successor Agent or Collateral Agent has been appointed pursuant to the foregoing within
thirty (30) days after the date such notice of resignation was given by the resigning Agent, such resignation shall become effective and Issuer shall appoint a successor Agent or Collateral Agent that shall thereafter perform all the duties of
Agent or Collateral Agent, as applicable, until such time, if any, as the Required Note Holders appoint a successor Agent or Collateral Agent, as applicable. Notwithstanding the foregoing, if, at any time, the EIG Note Holders collectively hold less
than 25% of the aggregate principal amount of Notes then outstanding, EIG MC, if it is then the Agent, shall, upon the request of Issuer, immediately resign as Agent, and upon any such resignation, Issuer shall appoint a successor Agent. Except with
respect to the appointment of a successor Agent by Issuer, any successor Agent or Collateral Agent appointed hereunder shall be subject to the approval of Issuer, such approval not to be unreasonably withheld, delayed or conditioned; provided
that such approval shall not be required if a Default or an Event of Default shall have occurred and be continuing. Issuer shall pay all reasonable costs associated with the appointment of such successor Agent or Collateral Agent and Issuer shall
pay all reasonable costs, fees and expenses charged by, or owing to, such successor Agent in connection with its obligations and duties as Agent or Collateral Agent under the Note Documents. Upon the acceptance of any appointment as Agent

  
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or Collateral Agent hereunder by a successor Agent or Collateral Agent, such successor Agent or Collateral Agent shall succeed to and become vested with all the rights, powers, privileges and
duties of the resigning Agent or Collateral Agent, as applicable. Upon the earlier of the acceptance of any appointment as Agent or Collateral Agent hereunder by a successor Agent or the effective date of the resigning Agent’s resignation, the
resigning Agent or Collateral Agent shall be discharged from its duties and obligations under this Agreement and the other Note Documents, except that any indemnity rights or other rights in favor of such resigning Agent shall continue. After any
resigning Agent’s or Collateral Agent’s resignation hereunder, the provisions of this subsection 12.9 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was acting as Agent or Collateral Agent
under this Agreement and the other Note Documents. In the event any Agent or Collateral Agent shall resign under this Agreement, and a successor Agent or Collateral Agent is appointed in replacement thereof, Issuer agrees at its own expense to (and
to cause the other Note Document Parties to) enter into such amendments, modifications and supplements to this Agreement and the other Note Documents, and to execute any additional filings and notices, as may be required to reflect such resignation
and replacement, or as any subsequent Agent or Collateral Agent shall reasonably request in light of its then customary terms for service as an agent or collateral agent in transactions such as those contemplated by the Note Documents. 

G. Neither Issuer nor any of its Affiliates nor any of their respective directors, managers, officers, agents or employees shall be
liable for any action taken or omitted to be taken by Agent, including the failure by Agent to duly or timely perform its duties hereunder. Any Note Document Party shall be entitled to rely upon, and shall incur no liability under or in respect of,
this Agreement or the other Note Documents by acting upon any notice, certificate or other instrument or writing (which may be by facsimile or electronic mail) believed by it to be genuine and signed or sent by Agent or the Required Note Holders.
Issuer also may rely upon any statement made to it orally or by telephone and believed by it to have been made by Agent, and shall not incur any liability for relying thereon. 

H. As between the Agent and each Note Holder, so long as the Agent (or any Affiliate of the Agent) is acting as a manager of, adviser
or sub-adviser to, or general partner of, any Note Holder which is an investment fund or company, or managed account, nothing in this Agreement or any other Note Document is intended to modify in any manner adverse to the Agent or its Affiliates any
standard of care, protective, exculpatory or indemnity provision, or other right or remedy of the Agent or its Affiliates vis-à-vis such Note Holder, as set forth in any subscription agreement, management agreement, side letter agreement,
limited liability company agreement, partnership agreement or similar organizational document, or other contract between the Agent or any Affiliate of the Agent (in its such entity’s capacity as a manager of, adviser or sub-adviser to, or
general partner of, such Note Holder) and such Note Holder. 
 I. Collateral Agent may also from time to time, when Collateral Agent
deems it to be necessary or desirable, appoint one or more trustees, co-trustees, collateral co-agents, collateral subagents or attorneys-in-fact (each, a “Supplemental Collateral Agent”) with respect to all or any part of
the Collateral; provided, however, that no such Supplemental Collateral Agent shall be authorized to take any action with respect to any Collateral unless and except to the extent expressly authorized in writing by the Collateral
Agent. Should any instrument in writing from any other Secured Party or any Note Document Party be required by 

  
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any Supplemental Collateral Agent so appointed by Collateral Agent to more fully or certainly vest in and confirm to such Supplemental Collateral Agent such rights, powers, privileges and duties,
such Agent, the Required Note Holders or any Note Document Party shall execute, acknowledge and deliver any and all such instruments promptly upon request by Collateral Agent. If any Supplemental Collateral Agent, or successor thereto, shall die,
become incapable of acting, resign or be removed, all rights, powers, privileges and duties of such Supplemental Collateral Agent, to the extent permitted by law, shall automatically vest in and be exercised by Collateral Agent until the appointment
of a new Supplemental Collateral Agent. Collateral Agent shall not be responsible for the negligence or misconduct of any agent, attorney-in-fact or Supplemental Collateral Agent that it selects in accordance with the foregoing provisions of this
subsection 12.9 in the absence of Collateral Agent’s gross negligence or willful misconduct. Any notice, request or other writing given to Collateral Agent shall be deemed to have been given to each applicable Supplemental Collateral
Agent. 
 J. Beyond the exercise of reasonable care in the custody thereof and as otherwise specifically set forth herein, Collateral
Agent shall not have any duty as to any of the Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior parties or any other rights pertaining
thereto and the Collateral Agent shall not be responsible for filing any financing or continuation statements or recording any documents or instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection
of any security interest in the Collateral. The Collateral Agent shall not be liable or responsible for any loss or diminution in the value of any of the Collateral, by reason of the act or omission of any carrier, forwarding agency or other agent
or bailee selected by the Collateral Agent in good faith. 
 K. Collateral Agent shall not be responsible for the existence,
genuineness or value of any of the Collateral or for the validity, perfection, priority or enforceability of the Liens in any of the Collateral, whether impaired by operation of law or by reason of any action or omission to act on its part
hereunder, except to the extent such action or omission constitutes gross negligence, bad faith or willful misconduct on the part of Collateral Agent, for the validity or sufficiency of the Collateral or any agreement or assignment contained
therein, for the validity of the title of the Note Document Parties to the Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or Liens upon the Collateral or otherwise as to the maintenance of the Collateral.

 L. In the event that Collateral Agent is required to acquire title to any Property for any reason, or take any managerial action
of any kind in regard thereto, in order to carry out any obligation for the benefit of another, which in Collateral Agent’s sole discretion may cause Collateral Agent to be considered an “owner or operator” under the provisions
of CERCLA, or otherwise cause Collateral Agent to incur liability under CERCLA or any other federal, state or local law, Collateral Agent reserves the right, instead of taking such action, to either resign as Collateral Agent or arrange for the
transfer of the title or control of the asset to a court-appointed receiver. Collateral Agent shall not be liable to the Secured Parties or any other Person for any Environmental Claims under any federal, state or local law, rule or regulation by
reason of Collateral Agent’s actions and conduct as authorized, empowered and directed hereunder or relating to the discharge, release or threatened release of Hazardous Materials into the environment. If at any time it is necessary or
advisable for any part of any of the Note 

  
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Document Parties’ Property that constitutes Collateral to be possessed, owned, operated or managed by any Person other than the Issuer or the Secured Parties, the Secured Parties shall,
pursuant to an act of Secured Parties, direct the Collateral Agent to appoint an appropriately qualified Person (excluding the Collateral Agent) who it shall designate to possess, own, operate or manage, as the case may be, such part of the Note
Document Parties’ Property. 
 M. Neither Agent nor Collateral Agent shall not be liable for any action taken, suffered, or
omitted to be taken by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement or any of the other Note Documents. 

N. Agent and Collateral Agent may refrain from taking any action in any jurisdiction if, in its opinion, the taking of such action in
that jurisdiction would be contrary to any law of that jurisdiction or of the State of New York, it would otherwise render it liable to any Person in that jurisdiction or the State of New York, the taking of such action would require it to obtain
any license or otherwise qualify to do business or subject it to taxation in such jurisdiction, it would not have the power or authority to take such action in such jurisdiction by virtue of any law in that jurisdiction or in the State of New York,
or it is determined by any court or other competent authority in that jurisdiction or in the State of New York that it does not have such power or authority. 

O. Neither Agent nor Collateral Agent will not be liable for special, indirect, punitive or consequential loss or damage of any kind
whatsoever (including but not limited to loss of profit), except where such damages arise from Agent’s or Collateral Agent’s, as applicable, gross negligence or willful misconduct, even if Agent or Collateral Agent, as applicable, has been
advised as to the likelihood of such loss or damage and regardless of the form of action. 
 P. Neither Agent nor Collateral Agent
shall not be responsible or liable for any failure or delay in the performance of its obligations under this Agreement or any of the other Note Documents arising out of or caused, directly or indirectly, by circumstances beyond its control,
including, without limitation, acts of God; earthquakes; fire; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; interruptions; loss or malfunctions of utilities, computer (hardware or software) or communication
services; accidents; labor disputes; acts of civil or military authority and governmental action; it being understood that Agent or Collateral Agent, as applicable, shall use reasonable efforts which are consistent with accepted practices in the
banking industry to resume performance as soon as practicable under the circumstances 
 Q. Collateral Agent shall not be deemed to
have actual knowledge or notice of the occurrence of any Default or Event of Default unless a Trust Officer of the Collateral Agent has received written notice at the Corporate Trust Office of the Collateral Agent from a Responsible Officer of a
Secured Party or a Note Document Party referring to this Agreement and the applicable document or documents governing such Default Event of Default, describing such Default or Event of Default and stating that such notice is a “Notice of
Event of Default”. Collateral Agent shall not be responsible for any representations, warranties, recitals or statements made herein or therein or made in any written or oral statements or in any financial or

  
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other statements, instruments, reports or certificates or any other documents furnished or made by Collateral Agent to the other Secured Parties, or by or on behalf of the Issuer, to any Secured
Party, or the Collateral Agent in connection with the Note Documents, and the transactions contemplated thereby or for the financial condition or business affairs of the Issuer or any other Person liable for the payment of any Note Obligations, nor
shall Collateral Agent be required to ascertain or inquire as to the performance or observance of any of the terms, conditions, provisions, covenants or agreements contained in any of the Note Documents or as to the existence or possible existence
of any Default or Event of Default or to make any disclosures with respect to the foregoing. 
 R. The agency hereby created shall in
no way impair or affect any of the rights and powers of, or impose any duties or obligations upon, Collateral Agent or Agent in their respective individual capacities as a Secured Party hereunder. With respect to Note Obligations made or renewed by
it or any of its Affiliates, Collateral Agent, Agent and their respective Affiliates shall have the same rights and powers under this Agreement and the other Note Documents as any Secured Party and may exercise the same as though Collateral Agent
and Agent were not Collateral Agent and Agent, respectively. 
 S. None of the provisions of this Agreement or the other Note
Documents shall be construed to require either of Collateral Agent or Agent in its individual capacities or otherwise to expend or risk its own funds or otherwise to incur any personal financial liability in the performance of any of its duties
hereunder or thereunder. 
 12.10 Investment Representation of Note Purchasers 

In order to induce Issuer to issue and sell the Notes to the Note Purchasers (including the issuance of any Additional Notes to the Note
Holders and, for purposes of this subsection 12.10, each Note Holder acquiring an Additional Note shall be considered a Note Purchaser), each Note Purchaser hereby represents and warrants to Issuer, and acknowledges as follows: 

A. Organization and Standing. Such Note Purchaser is a corporation or other entity duly incorporated or formed and validly existing
under the laws of the jurisdiction of its incorporation or formation. 
 B. Authorization; Enforceability. Such Note Purchaser
has the full power and authority to enter into this Agreement, and (assuming due execution by the other parties hereto) this Agreement constitutes its valid and legally binding obligation, enforceable against it in accordance with its terms, except
to the extent the enforceability thereof may be limited by (i) the effects of bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors’ rights generally, (ii) general
principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law) and (iii) implied covenants of good faith and fair dealing. 

C. Investment. Such Note Purchaser acquired each such Note solely for its own account, for investment purposes, with no intention of
distributing or reselling such Note in any public offering or in any transaction that would be in violation of applicable securities laws of the United States or any other applicable jurisdiction or any state or province thereof, without

  
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prejudice, however, to such Note Purchaser’s right at all times to sell or otherwise dispose of all or any part of the Note under an effective registration statement under the Securities Act
and applicable state securities or “blue sky” laws (it being understood that Issuer has no obligation or intention to undertake any such registration), or an exemption from such registration requirements and in compliance with applicable
securities laws. Such Note Purchaser has not solicited offers for, or offered or sold, and will not solicit offers for, or offer or sell, the Note by means of any form of general solicitation or general advertising within the meaning of Rule 502(a)
of Regulation D of the Securities Act, or in any manner involving a public offering within the meaning of Section 4(a)(2) of the Securities Act. 

D. Accredited Investor. Such Note Purchaser, at the time that it committed to enter into this Agreement was, and now is, an
“accredited investor” as that term is defined in Rule 501 of Regulation D under the Securities Act. 
 E. No Resale
or Repurchase. No person has made to such Note Purchaser any written or oral representations (i) that any person will resell or repurchase the Notes (except in accordance with the articles of Issuer), or (ii) that any person will
refund the purchase price of the Notes, or (iii) as to the future price or value of the Notes. 
 F. Private Placement.
Note Purchaser understands that the Notes are being offered for sale only on a “private placement” basis and that the sale and delivery of the Notes is conditional upon such sale being exempt from the requirements as to the filing of a
prospectus or registration statement or delivery of an offering memorandum or upon the issuance of such orders, consents or approvals as may be required to permit such sale without the requirement of filing a prospectus or delivering an offering
memorandum and, as a consequence, (i) the Note Purchaser is restricted from using most of the civil remedies available under applicable securities legislation, (ii) the Note Purchaser may not receive information that would otherwise be
required to be provided to it under applicable securities legislation, and (iii) Issuer is relieved from certain obligations that would otherwise apply under applicable securities legislation. 

G. Knowledge and Experience. Without limiting the force and effect of the representations and warranties of any Note Document Party,
such Note Purchaser (i) has such knowledge and experience in financial and business matters, as to enable it to evaluate the merits and risks of entering into this Agreement, receiving the Notes, (ii) is able to bear the economic risk of
the transaction, (iii) is able to hold its interest indefinitely unless a subsequent disposition thereof is registered under the Securities Act or is exempt from registration and is completed in compliance with applicable securities laws,
(iv) has been independently advised as to restrictions with respect to trading in the Notes imposed by applicable securities laws, (v) confirms that no representation (written or oral) has been made to it (with respect to trading
restrictions imposed by applicable securities laws) by or on behalf of Issuer or Agent with respect thereto, (vi) has conducted its own investigation of the Issuer and the terms of the Note, (vii) subject to subsection 9.17,
(A) confirms it has had access to information as it deemed necessary to make its decision to purchase the Notes, and (B) has been offered the opportunity to ask questions of the Issuer and receive answers thereto, as it deemed necessary in
connection with the decision to purchase the Notes, and (viii) acknowledges that it is aware of the characteristics of the Notes, and the risks relating to an investment therein. 

  
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 H. No Materials. Without limiting the representations and warranties set forth in the Note
Documents, such Note Purchaser has not received or been provided with, nor has it requested, nor does it have any need to receive, any offering memorandum, any prospectus, sales or advertising literature describing or purporting to describe the
business and affairs of Issuer which has been prepared for delivery to, and review by, prospective purchasers in order to assist them in making an investment decision in respect of the Notes. 

I. Transfer Restrictions. Such Note Purchaser acknowledges and agrees that none of the Notes has been registered under the Securities
Act or the securities laws of any country or state, and none of them may be sold or otherwise transferred in the absence of an effective registration thereunder unless an exemption from registration is available. Such Note Purchaser also
acknowledges and agrees that the Notes are subject to resale restrictions in the United States, may be subject to resale restrictions in jurisdictions other than the United States under applicable securities laws, and that any sale or transfer will
be completed in compliance with applicable securities laws. 
 J. Offers and Sales only in Certain Circumstances. If such Note
Purchaser decides to offer, sell, pledge or otherwise transfer any of the Notes, it will not offer, sell, pledge or otherwise transfer any of such Notes, directly or indirectly, unless: (a) the sale is made pursuant to registration of the Notes
under the Securities Act; (b) the sale is to Issuer; (c) the sale is made outside the United States in a transaction meeting the requirements of Rule 904 of Regulation S under the Securities Act and in compliance with applicable
local securities laws and regulations; (d) the sale is made pursuant to the exemption from the registration requirements of the Securities Act provided by Rule 144 or Rule 144A thereunder, if available, and, in either case, in
accordance with any applicable state securities or “blue sky” laws; or (e) the Notes are sold in any other transaction that does not require registration under the Securities Act or any applicable state securities or “blue
sky” laws. 
 K. Subsequent Purchaser Notification. Such Note Purchaser will take reasonable steps to inform, and cause
each of its Affiliates that is a U.S. person (as defined in Section 902 of Regulation S under the Securities Act) to take reasonable steps to inform, any person acquiring Notes from such Note Purchaser or Affiliate, as the case may be, in
the United States that the Notes (A) have not been and will not be registered under the Securities Act, (B) are being sold to them without registration under the Securities Act in reliance on Rule 144A or in accordance with another
exemption from registration under the Securities Act and (C) may not be offered, sold or otherwise transferred except (1) to Issuer, (2) outside the United States in accordance with Regulation S and in compliance with applicable
local securities laws and regulations, (3) inside the United States in accordance with (x) Rule 144A to a person whom the seller reasonably believes is a qualified institutional buyer, as defined in Rule 144A (“Qualified
Institutional Buyer”) that is purchasing such Notes for its own account or for the account of a Qualified Institutional Buyer to whom notice is given that the offer, sale or transfer is being made in reliance on Rule 144A or
(y) pursuant to another available exemption from registration under the Securities Act.  
 L. Sanctions, etc. Such Note
Purchaser: (i) is not identified on (a) any of the sanctioned party lists maintained and administered by OFAC, including the List of Specially Designated Nationals and Blocked Persons, the Foreign Sanctions Evaders List and the Sectoral

  
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Sanctions Identifications List, each amended from time to time or (b) any sanctions list of any governmental authority applicable to such Note Purchaser or any Affiliate of such Note
Purchaser (including any governmental authority of the United States other than OFAC), or the United Nations Security Council; (ii) is not 50% or more owned directly or indirectly, or controlled, by one or more Persons that are named on any
sanctions list described in clause (i); (iii) is not located, organized or resident in a country or territory that is, or whose government is, the target of comprehensive trade sanctions under Sanctions Laws, including, as of the date of
this Agreement, Cuba, Iran, North Korea, Sudan and Syria (collectively, the “Sanctioned Countries”); and (iv) is in full compliance with all anti-money laundering laws applicable to it. In addition, to the actual knowledge of
each Note Purchaser, none of the funds used by such Note Purchaser to purchase the Notes have been directly or indirectly derived from activities that contravene Applicable Anti-Corruption Laws, Anti-Terrorism Laws and Anti-Money Laundering Laws or
OFAC Laws. 
 12.11 Private Placement Representation of Agent 

Agent hereby represents and warrants to Issuer that Agent has not solicited offers for, or offered or sold, and will not solicit offers for,
or offer or sell, any Notes by means of any form of general solicitation or general advertising within the meaning of Rule 502(a) of Regulation D of the Securities Act, or in any manner involving a public offering within the meaning of
Section 4(a)(2) of the Securities Act. 
 12.12 No Waiver; Remedies Cumulative 

No failure or delay on the part of Agent, Collateral Agent or any Note Holder in exercising any right, power or privilege hereunder or under
any other Note Document and no course of dealing between Issuer and Agent, Collateral Agent or any Note Holder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or privilege hereunder or under any other
Note Document preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder or thereunder. The rights and remedies herein expressly provided are cumulative and not exclusive of any rights or remedies
which Agent, Collateral Agent or any Note Holder would otherwise have. No notice to or demand on Issuer in any case shall entitle Issuer to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights
of Agent, Collateral Agent or any Note Holder to any other or further action in any circumstances without notice or demand. 
 12.13
No Third Party Beneficiaries 
 The agreement of Note Holders to purchase the Notes on the terms and conditions set forth in this
Agreement are solely for the benefit of Issuer, and no other Person (including any counterparty to any Material Project Agreement or Permitted Senior Debt Document or any other obligor, contractor, subcontractor, supplier or materialman furnishing
supplies, goods or services to or for the benefit of the Project) shall have any rights hereunder, as against Agent, Collateral Agent or any Note Holder, under any other Note Document, or with respect to the proceeds of the Notes. 

  
 129 

 12.14 Counterparts 

This Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when
so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. 
 12.15
Effectiveness 
 This Agreement shall become effective on the date on which all of the parties hereto shall have signed a
counterpart hereof and shall have delivered the same to Agent. Delivery of an executed counterpart signature page of this Agreement by facsimile or other electronic imaging means (e.g., “pdf” or “tif”) shall be effective
as delivery of a manually executed counterpart of this Agreement. 
 12.16 Headings Descriptive; Amounts in Dollars 

A. The headings of the several Sections and subsections of this Agreement are inserted for convenience only and shall not in any way
affect the meaning or construction of any provision of this Agreement. 
 B. All amounts in this Agreement are stated in
Dollars. 
 12.17 Marshaling; Recapture 

None of Agent, Collateral Agent or any Note Holder shall be under any obligation to marshal any assets in favor of Issuer or any other party
or against or in payment of any or all of the Note Obligations. To the extent any Note Holder receives any payment by or on behalf of Issuer, which payment or any part thereof is subsequently invalidated, declared to be fraudulent or preferential,
set aside or required to be repaid to Issuer or its estate, trustee, receiver, custodian or any other party under any bankruptcy or insolvency law, state or federal law, common law or equitable cause, then to the extent of such payment or repayment,
the obligation or part thereof which has been paid, reduced or satisfied by the amount so repaid shall be reinstated by the amount so repaid and shall be included within the liabilities of Issuer to such Note Holder as of the date such initial
payment, reduction or such satisfaction occurred. 
 12.18 Severability 

In case any provision in or obligation under this Agreement or the Notes or the other Note Documents shall be invalid, illegal or
unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby. The parties
shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The
invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

  
 130 

 12.19 Survival 

All indemnities (and expense reimbursement) set forth herein, including those set forth in subsections 3.2, 3.5, 3.7,
12.2, 12.7 and 12.9, shall survive the execution and delivery of this Agreement and the Notes and the Discharge Date. In addition, each representation and warranty made or deemed to be made pursuant hereto shall survive the
making of such representation and warranty, and no Note Holder shall be deemed to have waived, by reason of advancing funds in respect of the purchase of Notes, any Default or Event of Default which may arise by reason of such representation or
warranty proving to have been false or misleading, notwithstanding that such Note Holder may have had notice or knowledge or reason to believe that such representation or warranty was false or misleading at the time such Notes were purchased. 

12.20 Independence of Covenants 

All covenants hereunder shall be given independent effect so that if a particular action or condition is not permitted by any of such
covenants, the fact that it would be permitted by an exception to, or be otherwise within the limitations of, another covenant shall not avoid the occurrence of a Default or Event of Default if such action is taken or condition exists. 

12.21 GOVERNING LAW; SUBMISSION TO JURISDICTION; WAIVER OF JURY TRIAL 

A. THIS AGREEMENT AND THE OTHER NOTE DOCUMENTS AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE
CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE PRINCIPLES THEREOF RELATING TO CONFLICTS OF LAW EXCEPT SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

B. ANY LEGAL ACTION OR PROCEEDING AGAINST ANY PARTY HERETO WITH RESPECT TO THIS AGREEMENT OR ANY OTHER NOTE DOCUMENT AND ANY ACTION FOR
ENFORCEMENT OF ANY JUDGMENT IN RESPECT THEREOF SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE IN THE BOROUGH OF MANHATTAN, AND, BY EXECUTION AND DELIVERY
OF THIS AGREEMENT, EACH PARTY HERETO HEREBY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS AND APPELLATE COURTS FROM ANY THEREOF; PROVIDED, THAT TO THE EXTENT THE
COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK DISMISS FOR LACK OF JURISDICTION OR OTHERWISE REFUSE TO HEAR ANY LEGAL ACTION OR PROCEEDING, EACH PARTY HERETO SHALL ACCEPT THE JURISDICTION OF
ANY OTHER APPLICABLE COURT. EACH PARTY HERETO IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID,
TO SUCH PARTY AT ITS 

  
 131 

 
ADDRESS REFERRED TO IN SUBSECTION 12.4. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS
OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER NOTE DOCUMENT BROUGHT IN THE COURTS REFERRED TO ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, NOT TO PLEAD OR CLAIM
IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE
LEGAL PROCEEDINGS OR OTHERWISE PROCEED IN ANY OTHER JURISDICTION. 
 C. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES TO THE FULLEST
EXTENT PERMITTED BY LAW ALL RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER NOTE DOCUMENT OR ANY MATTER ARISING HEREUNDER OR THEREUNDER. 

12.22 Confidentiality 

Each of Agent and each Note Holder agrees (on behalf of itself and each of its Affiliates, directors, officers, employees and representatives)
to keep confidential the Confidential Information; provided that nothing herein shall limit the disclosure of any such information (a) to its Affiliates, and its and such Affiliates’ directors, officers, employees, advisory
committee members, investment committee members, members, limited partners, co-investors and agents, including accountants, legal counsel and other advisors of all of the foregoing on a need-to-know basis (it being understood that the Persons to
whom such disclosure is made will be informed of the confidential nature of such information and instructed to keep such information confidential), (b) to the extent required by statute, rule, regulation, arbitral or judicial process or
otherwise requested by any Governmental Authority (provided that (A) such disclosure is made in accordance with such agency’s, court’s or other Governmental Authority’s request and is kept to the minimum necessary (in the
reasonable assessment of such Person and its counsel) for the purpose for which it is made and (B) such Person shall, subject in all cases to legal and regulatory restrictions, have given, as soon as reasonably practicable after receiving such
a request, written notice to the Issuer prior to such disclosure and considered its views in relation to such requested disclosures to the extent such views are reasonable and are received within the time period that it has to make the requested
disclosure), (c) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the other Note Documents or the enforcement of rights hereunder or thereunder, (d) subject to an
agreement containing provisions substantially the same as those of this subsection 12.22, to (1) any direct or indirect contractual counterparty or prospective counterparty (or such contractual counterparty’s or prospective
counterparty’s professional advisors) to any transactions relating to Note Obligations, (2) any actual or potential transferee of any Note or other Note Obligation, (3) any successor or assign of the business, in whole or in part, of
any Note Holder or any Agent or Collateral Agent, (4) any financier to any Note Holder or Agent or Collateral Agent, or (e) to the National Association of Insurance Commissioners or any other

  
 132 

 
similar organization or any nationally recognized rating agency that requires access to information about a Note Holder’s or its Affiliates’ investment portfolio in connection with
ratings issued with respect to such Note Holder or its Affiliates; provided that such disclosure is kept to the minimum necessary (in the reasonable assessment of such Person and its counsel) for the purpose for which it is made. The
obligations of Agent, Collateral Agent and each Note Holder under this subsection 12.22 shall supersede and replace the obligations of Agent or any Note Holder under any other confidentiality agreement in respect of this financing signed and
delivered by Agent, Collateral Agent or any Note Holder to Issuer prior to the Closing Date or prior to the date on which any Person becomes a Transferee. Each of Agent and each Note Holder acknowledges that it is aware, and that each such
Person’s directors, officers, employees and other agents and representatives who receive Confidential Information in accordance with this subsection 12.22 shall be made aware, that the United States securities laws prohibit any Person
who has received from any Issuer Party or their agents and representatives material, nonpublic information concerning Parent or its Affiliates from purchasing or selling securities of Parent or its Affiliates or from communicating such nonpublic
information concerning Parent or its Affiliates to any other Person. By accepting Confidential Information, each Note Holder, each Note Holder Observer, and each participant in any Note, will be deemed to have acknowledged and agreed to abide by the
terms of this subsection 12.22, and to further acknowledge and agree that neither it nor any of its Affiliates may use such Confidential Information for any purpose which is not directly related to the administration, oversight, syndication
or enforcement of the transactions contemplated by the Note Documents. 
 12.23 Immunity 

To the extent that Issuer or any other Issuer Party may be or become entitled, in any jurisdiction in which judicial proceedings may at any
time be commenced with respect to this Agreement or any other Transaction Document, to claim for itself or its property any immunity from suit, court jurisdiction, attachment prior to judgment, attachment in aid of execution of a judgment, execution
of a judgment or from any other legal process or remedy relating to its obligations under this Agreement or any other Transaction Document, and to the extent that in any such jurisdiction there may be attributed such an immunity (whether or not
claimed), Issuer hereby irrevocably agrees, on its own behalf and on behalf of any other Issuer Party, not to claim and hereby irrevocably waives such immunity to the fullest extent permitted by the laws of such jurisdiction and agrees that the
foregoing waiver shall have the fullest extent permitted under the Foreign Sovereign Immunities Act of 1976 of the United States and is intended to be irrevocable for purposes of such Act. 

12.24 Entire Agreement 

A. This Agreement and the other Note Documents, together with the provisions of the Senior Debt Documents referenced herein, constitute
the entire agreement and understanding among the parties hereto and, except as set forth in subsection 11.2, supersede all prior and contemporaneous negotiations and agreements between the parties regarding the subject matter hereof, whether
oral or written; provided that Section 13 of the Commitment Letter (and the other applicable provisions referenced in such Section 13) shall remain in full force and effect except to the extent superseded by the provisions of this
Agreement. 
 B. If there is a conflict or inconsistency, whether direct or indirect, or actual or apparent, between the terms and
conditions of this Agreement and the terms and conditions of the EIG Indemnification Agreement, the terms and conditions of this Agreement shall govern and control, unless explicitly overridden by the terms of the EIG Indemnification Agreement. 

  
 133 

 12.25 Limited Recourse 

Except as expressly provided in Section 9 hereof, the Parent Pledge Agreement, the Registration Rights Agreement or any Additional
Note Document to which Parent or any other member or holder of equity interests of Issuer may be a party with respect to Parent or such other equity holder, no manager, director, officer, employee, or member of Issuer shall have any liability for
any Note Obligations, including Obligations of Issuer under the Notes or this Agreement, or any claim based on, in respect of, or by reason of, such Obligations or their creation. Each Note Holder, by accepting the Notes, irrevocably waives and
releases all such liability; provided, for the avoidance of doubt, that the foregoing waiver in this subsection 12.25 shall not constitute a waiver, release or discharge of any of Parent’s Obligations under Section 9
hereof, the Parent Pledge Agreement, the Registration Rights Agreement or any Additional Note Document to which Parent may be a party, nor shall the foregoing waiver limit or restrict the rights of the Secured Parties with respect to such
Obligations or the Lien created pursuant to the Parent Pledge Agreement, the obligations of the Parent under the Registration Rights Agreement or any Additional Note Document to which Parent may be a party that creates, or purports to create, any
security interest. 
 The waiver and release in this subsection 12.25 are part of the consideration for issuance of the Notes. 

[Remainder of page intentionally left blank.] 

  
 134 

 IN WITNESS WHEREOF, each of the undersigned have caused this Note Purchase Agreement to be executed by
their respective duly Responsible Officers as of the date first written above. 
  

			
	ISSUER:
	
	CCH CHENIERE HOLDCO II, LLC
		
	By:	 	 /s/ Michael J. Wortley

		 	 Michael J. Wortley

		 	 Chief Financial Officer

 Signature Page to Note Purchase Agreement 

 
					
	AGENT:
	
	 EIG MANAGEMENT COMPANY, LLC

as Agent for the Note Holders

		
	By:	 	 /s/ Wallace Henderson

		 	Name:	 	Wallace Henderson
		 	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

		 	Name:	 	Brian Boland
		 	Title:	 	Vice President

 Signature Page to Note Purchase Agreement 

 
			
	COLLATERAL AGENT:
	
	 THE BANK OF NEW YORK MELLON,

as Collateral Agent for the Note Holders

		
	By:	 	 /s/ Latoya S. Elvin

		 	Name: Latoya S. Elvin
		 	Title: Vice President

 Signature Page to Note Purchase Agreement 

 
			
	NOTE PURCHASERS:
	
	EIG ENERGY FUND XV, LP
	By:	 	EIG Management Company, LLC, its sub-advisor
		
	By:	 	 /s/ Wallace Henderson

	Name:	 	Wallace Henderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

	Name:	 	Brian Boland
	Title:	 	Vice President
	
	EIG ENERGY FUND XV-A, LP
	By:	 	EIG Management Company, LLC, its sub-advisor
		
	By:	 	 /s/ Wallace Henderson

	Name:	 	Wallace Henderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

	Name:	 	Brian Boland
	Title:	 	Vice President
	
	EIG ENERGY FUND XV-B, LP
	By:	 	EIG Management Company, LLC, its sub-advisor
		
	By:	 	 /s/ Wallace Henderson

	Name:	 	Wallace Henderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

	Name:	 	Brian Boland
	Title:	 	Vice President

 Signature Page to Note Purchase Agreement 

 
			
	EIG ENERGY FUND XV (CAYMAN), LP
	By:	 	EIG Management Company, LLC, its sub-advisor
		
	By:	 	 /s/ Wallace Henderson

	Name:	 	Wallace Henderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

	Name:	 	Brian Boland
	Title:	 	Vice President
	
	EIG ENERGY FUND XVI, LP
	By:	 	EIG Management Company, LLC, its manager
		
	By:	 	 /s/ Wallace Henderson

	Name:	 	Wallace Henderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

	Name:	 	Brian Boland
	Title:	 	Vice President
	
	EIG ENERGY FUND XVI-B, LP
	By:	 	EIG Management Company, LLC, its manager
		
	By:	 	 /s/ Wallace Henderson

	Name:	 	Wallace Henderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

	Name:	 	Brian Boland
	Title:	 	Vice President

 Signature Page to Note Purchase Agreement 

 
			
	EIG ENERGY FUND XVI-E, LP
	By:	 	EIG Management Company, LLC, its manager
		
	By:	 	 /s/ Wallace Henderson

	Name:	 	Wallace Henderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

	Name:	 	Brian Boland
	Title:	 	Vice President
	
	EIG ENERGY FUND XVI (CAYMAN), LP
	By:	 	EIG Management Company, LLC, its manager
		
	By:	 	 /s/ Wallace Henderson

	Name:	 	Wallace Henderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

	Name:	 	Brian Boland
	Title:	 	Vice President
	
	EIG ENERGY FUND XVI (SCOTLAND), LP
	By:	 	EIG Management Company, LLC, its manager
		
	By:	 	 /s/ Wallace Henderson

	Name:	 	Wallace Henderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

	Name:	 	Brian Boland
	Title:	 	Vice President

 Signature Page to Note Purchase Agreement 

 
			
	EIG-KEATS ENERGY PARTNERS, L.P.
		
	By:	 	EIG-Keats Energy Partners GP, LLC, the General Partner
		
	By:	 	EIG Asset Management, LLC, its managing member
		
	By:	 	 /s/ Wallace Henderson

	Name:	 	Wallace Henderson
	Title:	 	Managing Director
		
	By:	 	 /s/ Brian Boland

	Name:	 	Brian Boland
	Title:	 	Vice President

 Signature Page to Note Purchase Agreement 

 Solely for purposes of acknowledging and agreeing to Section 9: 

 

			
	PARENT:
	
	CHENIERE ENERGY, INC.
		
	By:	 	 /s/ Michael J. Wortley

	Michael J. Wortley
	Senior Vice President and Chief Financial Officer

 Signature Page to Note Purchase AgreementEX-4.1

 Exhibit 4.1 
  

 
  

 
 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1 

Class A-1 0.30000% Asset Backed Notes 

Class A-2-A 0.77% Asset Backed Notes 

Class A-2-B Floating Rate Asset Backed Notes 

Class A-3 1.26% Asset Backed Notes 

Class B 1.88% Asset Backed Notes 

Class C 2.51% Asset Backed Notes 

Class D 2.95% Asset Backed Notes 

Class E 3.54% Asset Backed Notes 
  

 
 INDENTURE 

Dated as of January 13, 2015 
  

 
 THE BANK OF NEW
YORK MELLON, 
 as Trustee and Trust Collateral Agent 
  

 
  

 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	 ARTICLE I Definitions and Incorporation by Reference
	  	 	3	  
			
	 SECTION 1.1
	 	Definitions	  	 	3	  
	 SECTION 1.2
	 	Incorporation by Reference of Trust Indenture Act	  	 	11	  
	 SECTION 1.3
	 	Rules of Construction	  	 	11	  
		
	 ARTICLE II The Notes
	  	 	11	  
			
	 SECTION 2.1
	 	Form	  	 	11	  
	 SECTION 2.2
	 	Execution, Authentication and Delivery	  	 	12	  
	 SECTION 2.3
	 	Temporary Notes	  	 	13	  
	 SECTION 2.4
	 	Registration; Registration of Transfer and Exchange	  	 	13	  
	 SECTION 2.5
	 	Mutilated, Destroyed, Lost or Stolen Notes	  	 	15	  
	 SECTION 2.6
	 	Persons Deemed Owner	  	 	16	  
	 SECTION 2.7
	 	Payment of Principal and Interest; Defaulted Interest.	  	 	16	  
	 SECTION 2.8
	 	Cancellation	  	 	17	  
	 SECTION 2.9
	 	Release of Collateral	  	 	17	  
	 SECTION 2.10
	 	Book Entry Notes	  	 	17	  
	 SECTION 2.11
	 	Notices to Clearing Agency	  	 	18	  
	 SECTION 2.12
	 	Definitive Notes	  	 	18	  
		
	 ARTICLE III Covenants
	  	 	19	  
			
	 SECTION 3.1
	 	Payment of Principal and Interest	  	 	19	  
	 SECTION 3.2
	 	Maintenance of Office or Agency	  	 	19	  
	 SECTION 3.3
	 	Money for Payments to be Held in Trust	  	 	19	  
	 SECTION 3.4
	 	Existence	  	 	21	  
	 SECTION 3.5
	 	Protection of Trust Estate	  	 	21	  
	 SECTION 3.6
	 	Opinions as to Trust Estate	  	 	22	  
	 SECTION 3.7
	 	Performance of Obligations; Servicing of Receivables	  	 	22	  
	 SECTION 3.8
	 	Negative Covenants	  	 	23	  
	 SECTION 3.9
	 	Annual Statement as to Compliance	  	 	24	  
	 SECTION 3.10
	 	Issuer May Consolidate, Etc. Only on Certain Terms	  	 	24	  
	 SECTION 3.11
	 	Successor or Transferee	  	 	26	  
	 SECTION 3.12
	 	No Other Business	  	 	26	  
	 SECTION 3.13
	 	No Borrowing	  	 	27	  
	 SECTION 3.14
	 	Servicer’s Obligations	  	 	27	  
	 SECTION 3.15
	 	Guarantees, Loans, Advances and Other Liabilities	  	 	27	  
	 SECTION 3.16
	 	Capital Expenditures	  	 	27	  
	 SECTION 3.17
	 	Compliance with Laws	  	 	27	  
	 SECTION 3.18
	 	Restricted Payments	  	 	27	  
	 SECTION 3.19
	 	Notice of Events of Default	  	 	27	  
	 SECTION 3.20
	 	Further Instruments and Acts	  	 	28	  
	 SECTION 3.21
	 	Amendments of Sale and Servicing Agreement and Trust Agreement	  	 	28	  
	 SECTION 3.22
	 	Income Tax Characterization	  	 	28	  

							
		
	 ARTICLE IV Satisfaction and Discharge
	  	 	28	  
			
	 SECTION 4.1
	 	Satisfaction and Discharge of Indenture	  	 	28	  
	 SECTION 4.2
	 	Application of Trust Money	  	 	29	  
	 SECTION 4.3
	 	Repayment of Moneys Held by Note Paying Agent	  	 	29	  
		
	 ARTICLE V Remedies
	  	 	30	  
			
	 SECTION 5.1
	 	Events of Default	  	 	30	  
	 SECTION 5.2
	 	Rights Upon Event of Default	  	 	31	  
	 SECTION 5.3
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	32	  
	 SECTION 5.4
	 	Remedies	  	 	34	  
	 SECTION 5.5
	 	Optional Preservation of the Receivables	  	 	35	  
	 SECTION 5.6
	 	Priorities	  	 	35	  
	 SECTION 5.7
	 	Limitation of Suits	  	 	37	  
	 SECTION 5.8
	 	Unconditional Rights of Noteholders To Receive Principal and Interest	  	 	38	  
	 SECTION 5.9
	 	Restoration of Rights and Remedies	  	 	38	  
	 SECTION 5.10
	 	Rights and Remedies Cumulative	  	 	38	  
	 SECTION 5.11
	 	Delay or Omission Not a Waiver	  	 	38	  
	 SECTION 5.12
	 	Control by Noteholders	  	 	38	  
	 SECTION 5.13
	 	Waiver of Past Defaults	  	 	39	  
	 SECTION 5.14
	 	Undertaking for Costs	  	 	39	  
	 SECTION 5.15
	 	Waiver of Stay or Extension Laws	  	 	40	  
	 SECTION 5.16
	 	Action on Notes	  	 	40	  
	 SECTION 5.17
	 	Performance and Enforcement of Certain Obligations	  	 	40	  
		
	 ARTICLE VI The Trustee and the Trust Collateral Agent
	  	 	41	  
			
	 SECTION 6.1
	 	Duties of Trustee	  	 	41	  
	 SECTION 6.2
	 	Rights of Trustee	  	 	42	  
	 SECTION 6.3
	 	Individual Rights of Trustee	  	 	45	  
	 SECTION 6.4
	 	Trustee’s Disclaimer	  	 	46	  
	 SECTION 6.5
	 	Notice of Defaults	  	 	46	  
	 SECTION 6.6
	 	Reports by Trustee to Holders	  	 	46	  
	 SECTION 6.7
	 	Compensation and Indemnity	  	 	46	  
	 SECTION 6.8
	 	Replacement of Trustee	  	 	47	  
	 SECTION 6.9
	 	Successor Trustee by Merger	  	 	48	  
	 SECTION 6.10
	 	Appointment of Co-Trustee or Separate Trustee	  	 	49	  
	 SECTION 6.11
	 	Eligibility: Disqualification	  	 	50	  
	 SECTION 6.12
	 	Preferential Collection of Claims Against Issuer	  	 	51	  
	 SECTION 6.13
	 	Appointment and Powers	  	 	51	  
	 SECTION 6.14
	 	Performance of Duties	  	 	51	  
	 SECTION 6.15
	 	Limitation on Liability	  	 	52	  
	 SECTION 6.16
	 	Reliance Upon Documents	  	 	52	  
	 SECTION 6.17
	 	Successor Trust Collateral Agent	  	 	52	  
	 SECTION 6.18
	 	Compensation	  	 	54	  

  
 ii 

							
	 SECTION 6.19
	 	Representations and Warranties of the Trust Collateral Agent and the Issuer	  	 	54	  
	 SECTION 6.20
	 	Waiver of Setoffs	  	 	55	  
		
	 ARTICLE VII Noteholders’ Lists and Reports
	  	 	55	  
			
	 SECTION 7.1
	 	Issuer To Furnish To Trustee Names and Addresses of Noteholders	  	 	55	  
	 SECTION 7.2
	 	Preservation of Information; Communications to Noteholders	  	 	55	  
	 SECTION 7.3
	 	Reports by Issuer	  	 	56	  
	 SECTION 7.4
	 	Reports by Trustee	  	 	56	  
		
	 ARTICLE VIII Accounts, Disbursements and Releases
	  	 	57	  
			
	 SECTION 8.1
	 	Collection of Money	  	 	57	  
	 SECTION 8.2
	 	Release of Trust Estate	  	 	57	  
	 SECTION 8.3
	 	Opinion of Counsel	  	 	57	  
		
	 ARTICLE IX Supplemental Indentures
	  	 	58	  
			
	 SECTION 9.1
	 	Supplemental Indentures Without Consent of Noteholders	  	 	58	  
	 SECTION 9.2
	 	Supplemental Indentures with Consent of Noteholders	  	 	59	  
	 SECTION 9.3
	 	Execution of Supplemental Indentures	  	 	60	  
	 SECTION 9.4
	 	Effect of Supplemental Indenture	  	 	61	  
	 SECTION 9.5
	 	Conformity With Trust Indenture Act	  	 	61	  
	 SECTION 9.6
	 	Reference in Notes to Supplemental Indentures	  	 	61	  
		
	 ARTICLE X Redemption of Notes
	  	 	61	  
			
	 SECTION 10.1
	 	Redemption	  	 	61	  
	 SECTION 10.2
	 	Form of Redemption	  	 	62	  
	 SECTION 10.3
	 	Notes Payable on Redemption Date	  	 	62	  
		
	 ARTICLE XI Miscellaneous
	  	 	62	  
			
	 SECTION 11.1
	 	Compliance Certificates and Opinions, etc.	  	 	62	  
	 SECTION 11.2
	 	Form of Documents Delivered to Trustee	  	 	64	  
	 SECTION 11.3
	 	Acts of Noteholders	  	 	65	  
	 SECTION 11.4
	 	Notices, etc., to Trustee, Issuer and Rating Agencies	  	 	65	  
	 SECTION 11.5
	 	Notices to Noteholders; Waiver	  	 	66	  
	 SECTION 11.6
	 	[Reserved]	  	 	67	  
	 SECTION 11.7
	 	Conflict with Trust Indenture Act	  	 	67	  
	 SECTION 11.8
	 	Effect of Headings and Table of Contents	  	 	67	  
	 SECTION 11.9
	 	Successors and Assigns	  	 	67	  
	 SECTION 11.10
	 	Separability	  	 	67	  
	 SECTION 11.11
	 	Benefits of Indenture	  	 	67	  
	 SECTION 11.12
	 	Legal Holidays	  	 	67	  
	 SECTION 11.13
	 	GOVERNING LAW	  	 	67	  
	 SECTION 11.14
	 	Counterparts	  	 	68	  
	 SECTION 11.15
	 	Recording of Indenture	  	 	68	  

  
 iii 

							
	 SECTION 11.16
	 	Trust Obligation	  	 	68	  
	 SECTION 11.17
	 	No Petition	  	 	68	  
	 SECTION 11.18
	 	Inspection	  	 	68	  
	 SECTION 11.19
	 	Submission to Jurisdiction; Waiver of Jury Trial	  	 	69	  
	 SECTION 11.20
	 	No Partnership or Joint Venture	  	 	69	  
	 SECTION 11.21
	 	Limitation of Liability of the Owner Trustee	  	 	69	  
			
	EXHIBITS	 		  			
			
	 EXHIBIT A-1
	 	    Form of Class A-1 Note	  			
	 EXHIBIT A-2
	 	    Form of Class A-2-A Note	  			
	 EXHIBIT A-3
	 	    Form of Class A-2-B Note	  			
	 EXHIBIT A-4
	 	    Form of Class A-3 Note	  			
	 EXHIBIT B
	 	    Form of Class B Note	  			
	 EXHIBIT C
	 	    Form of Class C Note	  			
	 EXHIBIT D
	 	    Form of Class D Note	  			
	 EXHIBIT E
	 	    Form of Class E Note	  			
			
	 SCHEDULES
	 		  			
			
	 SCHEDULE A
	 	Representations and Warranties of the Issuer	  			

  
 iv 

 INDENTURE dated as of January 13, 2015, between AMERICREDIT AUTOMOBILE RECEIVABLES TRUST
2015-1, a Delaware statutory trust (the “Issuer”), and THE BANK OF NEW YORK MELLON, a New York banking corporation, as trustee (the “Trustee”) and Trust Collateral Agent (as defined below). 

Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Issuer’s
Class A-1 0.30000% Asset Backed Notes (the “Class A-1 Notes”), the Class A-2-A 0.77% Asset Backed Notes (the “Class A-2-A Notes”), the Class A-2-B Floating Rate Asset Backed Notes (the “Class
A-2-B Notes” and together with the Class A-2-A Notes, the “Class A-2 Notes”), the Class A-3 1.26% Asset Backed Notes (the “Class A-3 Notes”, and together with the Class A-1 Notes and the
Class A-2 Notes, the “Class A Notes”), the Class B 1.88% Asset Backed Notes (the “Class B Notes”), the Class C 2.51% Asset Backed Notes (the “Class C Notes”), the Class D 2.95% Asset Backed
Notes (the “Class D Notes”) and the Class E 3.54% Asset Backed Notes (the “Class E Notes” and together with the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes, the
“Notes”). 
 As security for the payment and performance by the Issuer of its obligations under this Indenture and the
Notes, the Issuer has agreed to assign the Collateral (as defined below) as collateral to the Trust Collateral Agent for the benefit of the Trustee on behalf of the Noteholders. 

 GRANTING CLAUSE 

The Issuer hereby Grants to the Trust Collateral Agent at the Closing Date, for the benefit of the Issuer Secured Parties, all of the
Issuer’s right, title and interest in and to the following property, whether now existing or hereafter acquired or arising (a) the Receivables and all moneys received thereon after the Cutoff Date; (b) the security interests in the
Financed Vehicles granted by Obligors pursuant to the Receivables and any other interest of the Issuer in the Financed Vehicles; (c) any proceeds with respect to the Receivables repurchased by a Dealer, pursuant to a Dealer Agreement, as a
result of a breach of representation or warranty in the related Dealer Agreement; (d) all rights under any Service Contracts on the related Financed Vehicles; (e) any proceeds with respect to the Receivables from claims on any physical
damage, credit life or disability insurance policies covering Financed Vehicles or Obligors and any proceeds from the liquidation of the Receivables; (f) the Trust Accounts and the Lockbox Account and all funds on deposit from time to time in
the Trust Accounts and the Lockbox Account, and in all investments and proceeds thereof and all rights of the Issuer therein (including all income thereon); (g) the Issuer’s rights and benefits, but none of its obligations or burdens,
under the Purchase Agreement, including the delivery requirements, representations and warranties and the cure and repurchase obligations of AmeriCredit under the Purchase Agreement; (h) all items contained in the Receivable Files and any and
all other documents that AmeriCredit keeps on file in accordance with its customary procedures relating to the Receivables, the Obligors or the Financed Vehicles; (i) the Issuer’s rights and benefits, but none of its obligations or
burdens, under the Sale and Servicing Agreement (including all rights of the Seller under the Purchase Agreement assigned to the Issuer pursuant to the Sale and Servicing Agreement); (j) all of the Issuer’s (i) Accounts,
(ii) Chattel Paper, (iii) Documents, (iv) Instruments and (v) General Intangibles (as such terms are defined in the UCC) relative to the property described in (a) through (i); and (k) all present and future claims,
demands, causes and choses of action in respect of any or all of the foregoing and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all of the foregoing, including all proceeds of the conversion,
voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, condemnation awards, rights to payment of any
and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing (collectively, the “Collateral”). 

The foregoing Grant is made in trust to the Trust Collateral Agent, for the benefit of the Trustee on behalf of the Noteholders. The Trust
Collateral Agent hereby acknowledges such Grant, accepts the trusts under this Indenture in accordance with the provisions of this Indenture and agrees to perform its duties required in this Indenture to the end that the interests of such parties,
recognizing the priorities of their respective interests may be adequately and effectively protected. 

  
 2 

 ARTICLE I 

Definitions and Incorporation by Reference 

SECTION 1.1 Definitions. Except as otherwise specified herein, the following terms have the respective meanings set forth below for all
purposes of this Indenture. 
 “Act” has the meaning specified in Section 11.3(a). 

“Affiliate” means, with respect to any specified Person, any other Person controlling or controlled by or under 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. A Person shall not be deemed to be an Affiliate of any
person solely because such other Person has the contractual right or obligation to manage such Person unless such other Person controls such Person through equity ownership or otherwise. 

“Authorized Officer” means, with respect to the Issuer and the Servicer, any officer or agent acting pursuant to a power of
attorney of the Owner Trustee or the Servicer, as applicable, who is authorized to act for the Owner Trustee or the Servicer, as applicable, in matters relating to the Issuer and who is identified on the list of Authorized Officers delivered by each
of the Owner Trustee and the Servicer to the Trustee on the Closing Date (as such list may be modified or supplemented from time to time thereafter). 

“Basic Documents” means this Indenture, the Certificate of Trust, the Trust Agreement (as amended), the Purchase Agreement,
the Sale and Servicing Agreement, the Lockbox Account Agreement, the Lockbox Processing Agreement, the Underwriting Agreement and other documents and certificates delivered in connection therewith. 

“Benefit Plan Entity” has the meaning specified in Section 2.4. 

“Benefit Plan Investor” has the meaning specified in Section 2.4. 

“Book Entry Notes” means a beneficial interest in the Notes, ownership and transfers of which shall be made through book
entries by a Clearing Agency as described in Section 2.10. 
 “Business Day” means any day other than a Saturday, a
Sunday, legal holiday or other day on which commercial banking institutions located in Wilmington, Delaware, Fort Worth, Texas, New York, New York or any other location of any successor Servicer, successor Owner Trustee or successor Trust Collateral
Agent are authorized or obligated by law, executive order or governmental decree to be closed. 
 “Certificate” means a
trust certificate evidencing the beneficial interest of a Certificateholder in the Trust. 

  
 3 

 “Certificateholder” means the Person in whose name a Certificate is registered
on the Certificate Register. 
 “Certificate of Trust” means the certificate of trust of the Issuer substantially in the
form of Exhibit B to the Trust Agreement. 
 “Class A Notes” means the Class A-1 Notes, the Class A-2 Notes and
the Class A-3 Notes. 
 “Class A-1 Interest Rate” means 0.30000% per annum (computed on the basis of a 360-day
year and the actual number of days in the related Interest Period). 
 “Class A-1 Notes” means the Class A-1 0.30000%
Asset Backed Notes, substantially in the form of Exhibit A-1. 
 “Class A-2 Notes” means the Class A-2-A Notes and the
Class A-2-B Notes. 
 “Class A-2-A Interest Rate” means 0.77% per annum (computed on the basis of a 360-day year
consisting of twelve 30-day months). 
 “Class A-2-A Notes” means the Class A-2-A 0.77% Asset Backed Notes,
substantially in the form of Exhibit A-2. 
 “Class A-2-B Interest Rate” means LIBOR plus 0.42% per annum
(computed on the basis of a 360-day year and the actual number of days in the related Interest Period). 
 “Class A-2-B
Notes” means the Class A-2-B Floating Rate Asset Backed Notes, substantially in the form of Exhibit A-3. 
 “Class A-3
Interest Rate” means 1.26% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months). 

“Class A-3 Notes” means the Class A-3 1.26% Asset Backed Notes, substantially in the form of Exhibit A-4. 

“Class B Interest Rate” means 1.88% per annum (computed on the basis of a 360-day year consisting of twelve 30-day
months). 
 “Class B Notes” means the Class 1.88% Asset Backed Notes, substantially in the form of Exhibit B. 

“Class C Interest Rate” means 2.51% per annum (computed on the basis of a 360-day year consisting of twelve 30-day
months). 
 “Class C Notes” means the Class 2.51% Asset Backed Notes, substantially in the form of Exhibit C. 

“Class D Interest Rate” means 2.95% per annum (computed on the basis of a 360-day year consisting of twelve 30-day
months). 

  
 4 

 “Class D Notes” means the Class D 2.95% Asset Backed Notes, substantially in the
form of Exhibit D. 
 “Class E Interest Rate” means 3.54% per annum (computed on the basis of a 360-day year
consisting of twelve 30-day months). 
 “Class E Notes” means the Class E 3.54% Asset Backed Notes, substantially in the
form of Exhibit E. 
 “Clearing Agency” means an organization registered as a “clearing agency” pursuant to
Section 17A of the Exchange Act. 
 “Clearing Agency Participant” means a broker, dealer, bank, other financial
institution or other Person for whom from time to time a Clearing Agency effects book-entry transfers and pledges of securities deposited with the Clearing Agency. 

“Closing Date” means January 22, 2015. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and Treasury Regulations promulgated
thereunder. 
 “Collateral” has the meaning specified in the Granting Clause of this Indenture. 

“Controlling Party” means the Trust Collateral Agent, acting on behalf of the Noteholders and solely at the prior written
direction of the Majority Noteholders. 
 “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 date of the execution of this Indenture is located at (i) solely for purposes of the transfer, surrender, exchange or presentation for final payment of
Notes, 2001 Bryan Street, 9th Floor, Dallas, Texas 75201, Attention: Transfer Unit – AmeriCredit 2015-1, and (ii) for all other purposes, 101 Barclay Street, 4 West, New York, New York 10286 (facsimile number (212) 815-3986),
Attention: Corporate Trust Administration – AmeriCredit 2015-1, or at such other address as the Trustee may designate from time to time by notice to the Noteholders, the Servicer and the Issuer, or the principal corporate trust office of any
successor Trustee (the address of which the successor Trustee will notify the Noteholders and the Issuer). 
 “Default”
means any occurrence that is, or with notice or the lapse of time or both would become, an Event of Default. 
 “Definitive
Notes” has the meaning specified in Section 2.10. 
 “Distribution Date” has the meaning specified in the
Sale and Servicing Agreement. 
 “ERISA” has the meaning specified in Section 2.4. 

“Event of Default” has the meaning specified in Section 5.1. 

  
 5 

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

“Executive Officer” means, with respect to any corporation, the Chief Executive Officer, Chief Operating Officer, Chief
Financial Officer, President, any Executive Vice President, any Senior Vice President, any Vice President, the Secretary or the Treasurer of such corporation; and with respect to any partnership, any general partner thereof. 

“Final Scheduled Distribution Date” means with respect to (i) the Class A-1 Notes, the January 8, 2016
Distribution Date, (ii) the Class A-2-A Notes, the April 9, 2018 Distribution Date, (iii) the Class A-2-B Notes, the April 9, 2018 Distribution Date, (iv) the Class A-3 Notes, the November 8, 2019
Distribution Date, (v) the Class B Notes, the March 9, 2020 Distribution Date, (vi) the Class C Notes, the January 8, 2021 Distribution Date, (vii) the Class D Notes, the February 8, 2021 Distribution Date and
(viii) the Class E Notes, the June 8, 2022 Distribution Date. 
 “Grant” means mortgage, pledge, bargain,
warrant, alienate, remise, release, convey, assign, transfer, create, grant a lien upon and a security interest in and right of set-off against, deposit, set over and confirm pursuant to this Indenture. A Grant of the Collateral or of any other
agreement or instrument shall include all rights, powers and options (but none of the obligations) of the Granting party thereunder, including the immediate and continuing right to claim for, collect, receive and give receipt for principal and
interest payments in respect of the Collateral and all other moneys payable thereunder, to give and receive notices and other communications, to make waivers or other agreements, to exercise all rights and options, to bring proceedings in the name
of the Granting party or otherwise and generally to do and receive anything that the Granting party is or may be entitled to do or receive thereunder or with respect thereto. 

“Holder” or “Noteholder” means the Person in whose name a Note is registered on the Note Register. 

“Indebtedness” means, with respect to any Person at any time, (a) indebtedness or liability of such Person for borrowed
money whether or not evidenced by bonds, debentures, notes or other instruments, or for the deferred purchase price of property or services (including trade obligations); (b) obligations of such Person as lessee under leases which should have
been or should be, in accordance with generally accepted accounting principles, recorded as capital leases; (c) current liabilities of such Person in respect of unfunded vested benefits under plans covered by Title IV of ERISA;
(d) obligations issued for or liabilities incurred on the account of such Person; (e) obligations or liabilities of such Person arising under acceptance facilities; (f) obligations of such Person under any guarantees, endorsements
(other than for collection or deposit in the ordinary course of business) and other contingent obligations to purchase, to provide funds for payment, to supply funds to invest in any Person or otherwise to assure a creditor against loss;
(g) obligations of such Person secured by any lien on property or assets of such Person, whether or not the obligations have been assumed by such Person; or (h) obligations of such Person under any interest rate or currency exchange
agreement. 
 “Indenture” means this Indenture as amended and supplemented from time to time. 

  
 6 

 “Independent” means, when used with respect to any specified Person, that the
Person (a) is in fact independent of the Issuer, any other obligor upon the Notes, the Seller and any Affiliate of any of the foregoing Persons, (b) does not have any direct financial interest or any material indirect financial interest in
the Issuer, any such other obligor, the Seller or any Affiliate of any of the foregoing Persons and (c) is not connected with the Issuer, any such other obligor, the Seller or any Affiliate of any of the foregoing Persons as an officer,
employee, promoter, underwriter, trustee, partner, director or Person performing similar functions. 
 “Independent
Certificate” means a certificate or opinion to be delivered to the Trust Collateral Agent under the circumstances described in, and otherwise complying with, the applicable requirements of Section 11.1, prepared by an Independent
appraiser or other expert appointed by an Issuer Order and approved by the Trust Collateral Agent in the exercise of reasonable care, and such opinion or certificate shall state that the signer has read the definition of “Independent” in
this Indenture and that the signer is Independent within the meaning thereof. 
 “Interest Rate” means, with respect to the
(i) Class A-1 Notes, the Class A-1 Interest Rate, (ii) Class A-2-A Notes, the Class A-2-A Interest Rate, (iii) Class A-2-B Notes, the Class A-2-B Interest Rate, (iv) Class A-3 Notes, the
Class A-3 Interest Rate, (v) Class B Notes, the Class B Interest Rate, (vi) Class C Notes, the Class C Interest Rate, (vii) Class D Notes, the Class D Interest Rate and (viii) Class E Notes, the Class E Interest Rate. 

“Issuer” means the party named as such in this Indenture until a successor replaces it and, thereafter, means the successor
and, for purposes of any provision contained herein and required by the TIA, each other obligor on the Notes. 
 “Issuer
Order” and “Issuer Request” means a written order or request signed in the name of the Issuer by any one of its Authorized Officers and delivered to the Trustee, the Trust Collateral Agent or the Note Paying Agent. 

“Issuer Secured Parties” means the Trustee in respect of the Trustee Issuer Secured Obligations. 

“Majority Noteholders” means the Holders of Notes representing a majority of the principal balance of the most senior Class
of Notes then outstanding; provided, that neither Holders of Notes who are employees or Affiliates of the Issuer, the Seller, the Servicer or General Motors Financial Company, Inc. nor the Notes held by such Holders shall be counted when
calculating such majority of the related principal balance. 
 “Note” means a Class A-1 Note, a Class A-2 Note, a
Class A-3 Note, a Class B Note, a Class C Note, a Class D Note or a Class E Note. 
 “Note Owner” means, with respect
to a Book Entry Note, the person who is the owner of such Book Entry Note, as reflected on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or
as an indirect participant, in each case in accordance with the rules of such Clearing Agency). 

  
 7 

 “Note Paying Agent” means the Trustee or any other Person that meets the
eligibility standards for the Trustee specified in Section 6.11 and is authorized by the Issuer to make the payments to and distributions from the Collection Account and the Note Distribution Account, including payment of principal of or
interest on the Notes on behalf of the Issuer. 
 “Note Register” and “Note Registrar” have the respective
meanings specified in Section 2.4. 
 “Notice of Default” has the meaning set forth in Section 5.1 hereof. 

“Officer’s Certificate” means a certificate signed by any Authorized Officer of the Issuer, under the circumstances
described in, and otherwise complying with, the applicable requirements of Section 11.1 and TIA § 314, and delivered to the Trustee or the Trust Collateral Agent. Unless otherwise specified, any reference in this Indenture to an
Officer’s Certificate shall be to an Officer’s Certificate of any Authorized Officer of the Issuer. 
 “Opinion of
Counsel” means one or more written opinions of counsel who may, except as otherwise expressly provided in this Indenture, be employees of or counsel to the Issuer and who shall be satisfactory to the Trustee, and which shall comply with any
applicable requirements of Section 11.1, and shall be in form and substance satisfactory to the Trustee. 

“Outstanding” means, as of the date of determination, all Notes theretofore authenticated and delivered under this Indenture
except: 
 (i) Notes theretofore canceled by the Note Registrar or delivered to the Note Registrar for cancellation; 

(ii) Notes or portions thereof the payment for which money in the necessary amount has been theretofore deposited with the
Trustee or any Note Paying Agent in trust for the Noteholders (provided, however, that if such Notes are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor, satisfactory to the
Trustee); and 
 (iii) Notes in exchange for or in lieu of other Notes which have been authenticated and delivered pursuant
to this Indenture unless proof satisfactory to the Trustee is presented that any such Notes are held by a bona fide purchaser; 
 provided, however,
that in determining whether the Holders of the requisite Outstanding Amount of the Notes have given any request, demand, authorization, direction, notice, consent or waiver hereunder or under any Basic Document, Notes owned by the Issuer, any other
obligor upon the Notes, the Seller or any Affiliate of any of the foregoing Persons shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee or the Trust Collateral Agent, as applicable, shall be
protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes that a Responsible Officer of the Trustee or the Trust Collateral Agent, as applicable, either actually knows to be so owned or has
received written notice thereof shall be so disregarded. Notes so owned that have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect
to such Notes and that the pledgee is not the Issuer, any other obligor upon the Notes, the Seller or any Affiliate of any of the foregoing Persons. 

  
 8 

 “Outstanding Amount” means the aggregate principal amount of all Notes, or class
of Notes, as applicable, Outstanding at the date of determination. 
 “Predecessor Note” means, with respect to any
particular Note, every previous Note evidencing all or a portion of the same debt as that evidenced by such particular Note; and, for the purpose of this definition, any Note authenticated and delivered under Section 2.5 in lieu of a mutilated,
lost, destroyed or stolen Note shall be deemed to evidence the same debt as the mutilated, lost, destroyed or stolen Note. 

“Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding. 

“Prohibited Transaction Class Exemption” means U.S. Department of Labor prohibited transaction class exemption 84-14, 90-1,
91-38, 95-60 or 96-23, or any similar prohibited transaction class exemption issued by the U.S. Department of Labor. 
 “Rating
Agency” means each of DBRS and Moody’s so long as such Persons maintain a rating on the Notes; and if any of DBRS or Moody’s no longer maintains a rating on the Notes, such other nationally recognized statistical rating
organization engaged by the Seller. 
 “Rating Agency Condition” means, with respect to any action, that each of DBRS and
Moody’s shall have been given 10 days’ (or such shorter period as shall be acceptable to each Rating Agency) prior notice thereof by AmeriCredit and that such Rating Agency has notified the Seller, the Servicer, the Owner Trustee and the
Trust Collateral Agent (or the Trustee, as applicable) in writing that such action will not result in a reduction or withdrawal of the then current rating of any Class of Notes. 

“Record Date” means, with respect to a Distribution Date or Redemption Date, the close of business on the Business Day
immediately preceding such Distribution Date or Redemption Date, unless otherwise specified in this Indenture. 
 “Redemption
Date” means in the case of a redemption of the Notes pursuant to Section 10.1(a) or a payment to Noteholders pursuant to Section 10.1(b), the Distribution Date specified by the Servicer or the Issuer pursuant to
Section 10.1(a) or 10.1(b) as applicable. 
 “Redemption Price” means (a) in the case of a redemption of the
Notes pursuant to Section 10.1(a), an amount equal to the unpaid principal amount of the then outstanding principal amount of each class of Notes being redeemed plus accrued and unpaid interest thereon to but excluding the Redemption Date, or
(b) in the case of a payment made to Noteholders pursuant to Section 10.1(b), the amount on deposit in the Note Distribution Account, but not in excess of the amount specified in clause (a) above. 

“Responsible Officer” means, with respect to the Trustee or the Trust Collateral Agent, any officer within the Corporate
Trust Office of the Trustee, including any Executive Vice President, Senior Vice President, Vice President, Assistant Vice President, Assistant 

  
 9 

 
Treasurer, Assistant Secretary, or any other officer of the Trustee or the Trust Collateral Agent customarily performing functions similar to those performed by any of the above designated
officers and also, with respect to a particular matter, any other officer to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject, in each case having direct responsibility for the
administration of this Indenture. 
 “Sale and Servicing Agreement” means the Sale and Servicing Agreement, dated as of
January 13, 2015, among the Issuer, the Seller, the Servicer and the Trust Collateral Agent, as the same may be amended or supplemented from time to time. 

“Schedule of Representations” means the Schedule of Representations and Warranties attached hereto as Schedule A. 

“Similar Law” has the meaning specified in Section 2.4. 

“STAMP” has the meaning specified in Section 2.4. 

“State” means any one of the 50 states of the United States of America or the District of Columbia. 

“Statutory Exemption” means the statutory exemption under Section 408(b)(17) of ERISA and Section 4975(d)(20) of
the Code. 
 “Termination Date” means the date on which the Trustee shall have received payment and performance of all
Trustee Issuer Secured Obligations. 
 “Trust Collateral Agent” means, initially, The Bank of New York Mellon, a New York
banking corporation, in its capacity as collateral agent on behalf of the Issuer Secured Parties, including its successors-in-interest, until and unless a successor Person shall have become the Trust Collateral Agent pursuant to Section 6.17
hereof, and thereafter “Trust Collateral Agent” shall mean such successor Person. 
 “Trust Estate” means all
money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of this Indenture for the benefit of the Noteholders (including all property and interests Granted to the Trust Collateral
Agent), including all proceeds thereof. 
 “Trust Indenture Act” or “TIA” means the Trust Indenture Act of
1939, as amended and as in force on the date hereof, unless otherwise specifically provided. 
 “Trustee” means The Bank of
New York Mellon, a New York banking corporation, not in its individual capacity but as trustee under this Indenture, or any successor trustee under this Indenture. 

“Trustee Issuer Secured Obligations” means all amounts and obligations which the Issuer may at any time owe to or on behalf
of the Trustee or the Trust Collateral Agent for the benefit of the Noteholders under this Indenture, the Notes or any Basic Document. 

  
 10 

 “UCC” means, unless the context otherwise requires, the Uniform Commercial Code,
as in effect in the relevant jurisdiction, as amended from time to time. 
 Capitalized terms used herein and not otherwise defined herein
shall have the meanings assigned to them in the Sale and Servicing Agreement or the Trust Agreement. 
 SECTION 1.2 Incorporation by
Reference of Trust Indenture Act. Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture. The following TIA terms used in this Indenture have the following
meanings: 
 “Commission” means the Securities and Exchange Commission. 

“indenture securities” means the Notes. 

“indenture security holder” means a Noteholder. 

“indenture to be qualified” means this Indenture. 

“indenture trustee” or “institutional trustee” means the Trustee. 

“obligor” on the indenture securities means the Issuer. 

All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by Commission
rule have the meaning assigned to them by such definitions. 
 SECTION 1.3 Rules of Construction. Unless the context otherwise
requires: 
 (i) a term has the meaning assigned to it; 

(ii) an accounting term not otherwise defined has the meaning assigned to it in accordance with generally accepted accounting
principles as in effect from time to time; 
 (iii) “or” is not exclusive; 

(iv) “including” means including without limitation; and 

(v) words in the singular include the plural and words in the plural include the singular. 

ARTICLE II 
 The Notes 

SECTION 2.1 Form. The Class A-1 Notes, the Class A-2-A Notes, the Class A-2-B Notes, the Class A-3 Notes, the Class
B Notes, the Class C Notes, the Class D Notes and the Class E Notes, in each case together with the Trustee’s certificate of authentication, shall be in substantially the forms set forth in Exhibits A-1, A-2, A-3, A-4, B, C, D and E,
respectively, 

  
 11 

 
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, consistently herewith, be determined by the officers executing such Notes, as evidenced by their execution of the Notes. Any portion of the text of any Note may be set forth on the reverse
thereof, with an appropriate reference thereto on the face of the Note. 
 The Definitive Notes shall be typewritten, printed, lithographed
or engraved or produced by any combination of these methods (with or without steel engraved borders), all as determined by the officers executing such Notes, as evidenced by their execution of such Notes. 

Each Note shall be dated the date of its authentication. The terms of the Notes set forth in Exhibits A-1, A-2, A-3, A-4, B, C, D and E are
part of the terms of this Indenture. 
 SECTION 2.2 Execution, Authentication and Delivery. The Notes shall be executed on behalf of
the Issuer by any of its Authorized Officers. The signature of any such Authorized Officer on the Notes may be manual or facsimile. 
 Notes
bearing the manual or facsimile signature of individuals who were at any time Authorized 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 Notes or did not hold such offices at the date of such Notes. 
 The Trustee shall, upon receipt of the Issuer Order,
authenticate and deliver Class A-1 Notes for original issue in an aggregate principal amount of $156,000,000, Class A-2-A Notes for original issue in the aggregate principal amount of $100,000,000, Class A-2-B Notes for original issue
in the aggregate principal amount of $235,000,000, Class A-3 Notes for original issue in an aggregate principal amount of $292,390,000, Class B Notes for original issue in an aggregate principal amount of $84,390,000, Class C Notes for original
issue in an aggregate principal amount of $104,760,000, Class D Notes for original issue in an aggregate principal amount of $103,020,000 and Class E Notes for original issue in an aggregate principal amount of $24,440,000. The Class A-1 Notes,
Class A-2 Notes, Class A-3 Notes, Class B Notes, Class C Notes, Class D Notes and Class E Notes outstanding at any time may not exceed such amounts except as provided in Section 2.5. 

The Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class B Notes, Class C Notes and the Class D Notes shall be issuable as
registered Notes in the minimum denomination of $1,000 and in integral multiples thereof (except for one Note of each class which may be issued in a denomination other than an integral multiple of $1,000) and the Class E Notes shall be issuable as
registered Notes in the minimum denomination of $100,000 and in integral multiples of $10,000 (except for one Note of the class which may be issued in a denomination other than an integral multiple of $10,000). 

No Note shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose, unless there appears on such Note a
certificate of authentication substantially in the form provided for herein executed by the Trustee by the manual signature of one of its authorized signatories, and such certificate upon any Note shall be conclusive evidence, and the only evidence,
that such Note has been duly authenticated and delivered hereunder. 

  
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 SECTION 2.3 Temporary Notes. Pending the preparation of Definitive Notes, the Issuer may
execute, and upon receipt of an Issuer Order the Trustee shall authenticate and deliver, temporary Notes which are printed, lithographed, typewritten, mimeographed or otherwise produced, of the tenor of the Definitive Notes in lieu of which they are
issued and with such variations not inconsistent with the terms of this Indenture as the officers executing such Notes may determine, as evidenced by their execution of such Notes. 

If temporary Notes are issued, the Issuer will cause Definitive Notes to be prepared without unreasonable delay. After the preparation of
Definitive Notes, the temporary Notes shall be exchangeable for Definitive Notes upon surrender of the temporary Notes at the office or agency of the Issuer to be maintained as provided in Section 3.2, without charge to the Noteholder. Upon
surrender for cancellation of any one or more temporary Notes, the Issuer shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal amount of Definitive Notes of authorized denominations. Until so exchanged,
the temporary Notes shall in all respects be entitled to the same benefits under this Indenture as Definitive Notes. 
 SECTION 2.4
Registration; Registration of Transfer and Exchange. The Issuer shall cause to be kept a register (the “Note Register”) in which, subject to such reasonable regulations as it may prescribe, the Issuer shall provide for the
registration of Notes and the registration of transfers of Notes. The Trustee shall be “Note Registrar” for the purpose of registering Notes and transfers of Notes as herein provided. Upon any resignation of any Note Registrar, the
Issuer shall promptly appoint a successor or, if it elects not to make such an appointment, assume the duties of Note Registrar. 
 If a
Person other than the Trustee is appointed by the Issuer as Note Registrar, the Issuer will give the Trustee prompt written notice of the appointment of such Note Registrar and of the location, and any change in the location, of the Note Register,
and the Trustee shall have the right to inspect the Note Register at all reasonable times and to obtain copies thereof, and the Trustee shall have the right to conclusively rely upon a certificate executed on behalf of the Note Registrar by an
Executive Officer thereof as to the names and addresses of the Noteholders of the Notes and the principal amounts and number of such Notes. 

Subject to Sections 2.10 and 2.12 hereof, upon surrender for registration of transfer of any Note at the office or agency of the Issuer to be
maintained as provided in Section 3.2, if the requirements of Section 8-401(1) of the UCC are met the Issuer shall execute and upon its request the Trustee shall authenticate and the Noteholder shall obtain from the Trustee, in the name of
the designated transferee or transferees, one or more new Notes, in any authorized denominations, of the same class and a like aggregate principal amount. 

At the option of the Noteholder, Notes may be exchanged for other Notes in any authorized denominations, of the same class and a like
aggregate principal amount, upon surrender of the Notes to be exchanged at such office or agency. Whenever any Notes are so surrendered for exchange, subject to Sections 2.10 and 2.12 hereof, if the requirements of Section 8-401(1) of the UCC
are met the Issuer shall execute and upon its request the Trustee shall authenticate and the Noteholder shall obtain from the Trustee, the Notes which the Noteholder making the exchange is entitled to receive. 

  
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 All Notes issued upon any registration of transfer or exchange of Notes shall be the valid
obligations of the Issuer, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or exchange. 

Every Note presented or surrendered for registration of transfer or exchange shall be (i) duly endorsed by, or be accompanied by a
written instrument of transfer in the forms attached to Exhibits A-1, A-2, A-3, A-4, B, C, D and E duly executed by, the Holder thereof or such Holder’s attorney duly authorized in writing, with such signature guaranteed by an “eligible
guarantor institution” meeting the requirements of the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require. 

Notwithstanding the foregoing, in the case of any sale or other transfer of a Class A Note, Class B Note or Class C Note that is a
Definitive Note, the prospective transferee of such Definitive Note shall be required to represent and warrant in writing to the Note Registrar that it is not, and is not acting on behalf of or investing the assets of, (a) an “employee
benefit plan” (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)), that is subject to the fiduciary responsibility provisions of Title I of ERISA, (b) a
“plan” (as defined in section 4975(e)(1) of the Code), that is subject to Section 4975 of the Code, (c) an entity whose underlying assets are deemed to be assets of an employee benefit plan or a plan described in (a) or
(b) above by reason of such employee benefit plan’s or plan’s investment in the entity (collectively, a “Benefit Plan Investor”) or (d) an employee benefit plan, a plan or other similar arrangement that is not a
Benefit Plan Investor but is subject to federal, state, local or non-U.S. laws or regulations substantially similar to the fiduciary responsibility provisions of Title I of ERISA or Section 4975 of the Code (“Similar Law”),
unless such purchaser’s or transferee’s acquisition, holding and disposition of such Definitive Note will not constitute or result in a non-exempt prohibited transaction under Section 406 of ERISA, Section 4975 of the Code or a
non-exempt violation of any Similar Law (each of (a) – (d), a “Benefit Plan Entity”). Each transferee that is a Benefit Plan Entity of a Class A Note, Class B Note or Class C Note that is a Book Entry Note shall be
deemed to represent that its acquisition, holding and disposition of the Book Entry Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and
disposition will not violate such Similar Law). 
 Notwithstanding the foregoing, in the case of any sale or other transfer of a Class D
Note or a Class E Note that is a Definitive Note, the transferee of such Definitive Note shall be required to represent and warrant in writing to the Note Registrar that it is not, and is not acting on behalf of or investing the assets of a
Benefit Plan Entity. Each transferee of a Class D Note or a Class E Note that is a Book Entry Note shall be deemed to represent that it is not and is not acting on behalf of or investing the assets of a Benefit Plan Entity. 

  
 14 

 No service charge shall be made to a Noteholder for any registration of transfer or exchange of
Notes, but the Note Registrar may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Notes, other than exchanges pursuant to
Section 2.3 or 9.6 not involving any transfer. 
 The preceding provisions of this section notwithstanding, the Issuer shall not be
required to make and the Note Registrar shall not register transfers or exchanges of Notes selected for redemption or of any Note for a period of 15 days preceding the due date for any payment with respect to the Note. 

SECTION 2.5 Mutilated, Destroyed, Lost or Stolen Notes. If (i) any mutilated Note is surrendered to the Trustee, or the Trustee
receives evidence to its satisfaction of the destruction, loss or theft of any Note, and (ii) there is delivered to the Trustee such security or indemnity as may be required by it to hold the Issuer, the Trust Collateral Agent and the Trustee
harmless, then, in the absence of notice to the Issuer, the Note Registrar or the Trustee that such Note has been acquired by a bona fide purchaser, and provided that the requirements of Section 8-405 of the UCC are met, the Issuer shall
execute and upon its request the Trustee shall authenticate and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Note, a replacement Note; provided, however, that if any such destroyed, lost or stolen Note,
but not a mutilated Note, shall have become or within seven days shall be due and payable, or shall have been called for redemption, instead of issuing a replacement Note, the Issuer may direct the Trustee, in writing, to pay such destroyed, lost or
stolen Note when so due or payable or upon the Redemption Date, without surrender thereof. If, after the delivery of such replacement Note or payment of a destroyed, lost or stolen Note pursuant to the proviso to the preceding sentence, a bona fide
purchaser of the original Note in lieu of which such replacement Note was issued presents for payment such original Note, the Issuer and the Trustee shall be entitled to recover such replacement Note (or such payment) from the Person to whom it was
delivered or any Person taking such replacement Note from such Person to whom such replacement Note was delivered or any assignee of such Person, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided
therefor to the extent of any loss, damage, cost or expense incurred by the Issuer or the Trustee in connection therewith. 
 Upon the
issuance of any replacement Note under this Section, the Issuer may require the payment by the Holder of such Note of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other reasonable
expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every replacement Note issued pursuant to this Section in
replacement of any mutilated, destroyed, lost or stolen Note shall constitute an original additional contractual obligation of the Issuer, whether or not the mutilated, destroyed, lost or stolen Note shall be at any time enforceable by anyone, and
shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Notes 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 Notes. 

  
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 SECTION 2.6 Persons Deemed Owner. Prior to due presentment for registration of transfer of
any Note, the Issuer, the Trustee, the Trust Collateral Agent and any agent of the Issuer, the Trustee or the Trust Collateral Agent may treat the Person in whose name any Note is registered (as of the Record Date) as the owner of such Note for the
purpose of receiving payments of principal of and interest, if any on such Note and for all other purposes whatsoever, whether or not such Note be overdue, and none of the Issuer, the Trustee, the Trust Collateral Agent nor any agent of the Issuer,
the Trustee or the Trust Collateral Agent shall be affected by notice to the contrary. 
 SECTION 2.7 Payment of Principal and Interest;
Defaulted Interest. 
 (a) The Notes shall accrue interest as provided in the forms of the Class A-1 Note, the Class A-2-A
Note, the Class A-2-B Note, the Class A-3 Note, the Class B Note, the Class C Note, the Class D Note and the Class E Note set forth in Exhibits A-1, A-2, A-3, A-4, B, C, D and E, respectively, and such interest shall be due and payable on
each Distribution Date, as specified therein. Any installment of interest or principal, if any, payable on any Note which is punctually paid or duly provided for by the Issuer on the applicable Distribution Date, shall be paid to the Person in whose
name such Note (or one or more Predecessor Notes) is registered on the Record Date, by check mailed first-class, postage prepaid, to such Person’s address as it appears on the Note Register on such Record Date, except that, unless Definitive
Notes have been issued pursuant to Section 2.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payment will be made by wire transfer in
immediately available funds to the account designated by such nominee and except for the final installment of principal payable with respect to such Note on a Distribution Date or on the Final Scheduled Distribution Date (and except for the
Redemption Price for any Note called for redemption pursuant to Section 10.1(a)) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.3. 

(b) The principal of each Note shall be payable in installments on each Distribution Date as provided in the forms of the Class A-1 Note,
the Class A-2-A Note, the Class A-2-B Note, the Class A-3 Note, the Class B Note, the Class C Note, the Class D Note and the Class E Note, set forth in Exhibits A-1, A-2, A-3, A-4, B, C, D and E, respectively. Notwithstanding the
foregoing, the entire unpaid principal amount of the Notes shall be due and payable, if not previously paid, on the date on which an Event of Default shall have occurred and be continuing, if the Trustee or the Majority Noteholders have declared the
Notes to be immediately due and payable in the manner provided in Section 5.2. All principal payments on each class of Notes shall be made pro rata to the Noteholders of such class entitled thereto. Upon written notice from the Issuer, the
Trustee shall notify the Person in whose name a Note is registered at the close of business on the Record Date preceding the Distribution Date on which the Issuer expects that the final installment of principal of and interest on such Note will be
paid. Such notice shall be mailed or transmitted by facsimile prior to such final Distribution Date and shall specify that such final installment will be payable only upon presentation and surrender of such Note and shall specify the place where
such Note may be presented and surrendered for payment of such installment. Notices in connection with redemptions of Notes shall be mailed to Noteholders as provided in Section 10.2. 

  
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 (c) If the Issuer defaults in a payment of interest on the Notes, and such default is waived by
the Controlling Party, acting at the direction of the Majority Noteholders, the Issuer shall pay defaulted interest (plus interest on such defaulted interest to the extent lawful) at the applicable Interest Rate in any lawful manner. The Issuer may
pay such defaulted interest to the Persons who are Noteholders on the immediately following Distribution Date, and, if such amount is not paid on such following Distribution Date, then on a subsequent special record date, which date shall be at
least five Business Days prior to the payment date. The Issuer shall fix or cause to be fixed any such special record date and payment date, and, at least 15 days before any such special record date, the Issuer shall mail to each Noteholder and the
Trustee a notice that states the special record date, the payment date and the amount of defaulted interest to be paid. 
 SECTION 2.8
Cancellation. All Notes surrendered for payment, registration of transfer, exchange or redemption shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and shall be promptly canceled by the Trustee. The
Issuer may at any time deliver to the Trustee for cancellation any Notes previously authenticated and delivered hereunder which the Issuer may have acquired in any manner whatsoever, and all Notes so delivered shall be promptly canceled by the
Trustee. No Notes shall be authenticated in lieu of or in exchange for any Notes canceled as provided in this Section, except as expressly permitted by this Indenture. All canceled Notes may be held or disposed of by the Trustee in accordance with
its standard retention or disposal policy as in effect at the time unless the Issuer shall timely direct by an Issuer Order that they be destroyed or returned to it; provided that such Issuer Order is timely and the Notes have not been previously
disposed of by the Trustee. 
 SECTION 2.9 Release of Collateral. The Trust Collateral Agent shall, on the earlier of (i) the
Termination Date or (ii) the Redemption Date (if the Notes are redeemed in full on such date), in either such case, so long as any amounts due to the Trustee or the Trust Collateral Agent pursuant to the Basic Documents have been paid in full,
execute such documents as are reasonably provided to it by the Seller (which documents shall be prepared at the Seller’s expense) in order to release any remaining portion of the Trust Estate from the lien created by this Indenture and deposit
in the Collection Account any funds then on deposit in any other Trust Account. 
 SECTION 2.10 Book Entry Notes. The Class A
Notes, Class B Notes, Class C Notes, Class D Notes and Class E Notes, upon original issuance, will be issued in the form of typewritten Notes representing the Book Entry Notes, to be delivered to The Depository Trust Company, the initial Clearing
Agency, by, or on behalf of, the Issuer. Such Notes shall initially be registered on the Note Register in the name of Cede & Co., the nominee of the initial Clearing Agency, and no Note Owner will receive a Definitive Note representing such
Note Owner’s interest in such Note, except as provided in Section 2.12. Unless and until definitive, fully registered Notes (the “Definitive Notes”) have been issued to Note Owners pursuant to Section 2.12: 

(i) the provisions of this Section shall be in full force and effect; 

  
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 (ii) the Note Registrar and the Trustee shall be entitled to deal with the
Clearing Agency for all purposes of this Indenture (including the payment of principal of and interest on the Notes and the giving of instructions or directions hereunder) as the sole Holder of the Notes, and shall have no obligation to the Note
Owners; 
 (iii) to the extent that the provisions of this Section conflict with any other provisions of this Indenture, the
provisions of this Section shall control; 
 (iv) the rights of Note Owners shall be exercised only through the Clearing
Agency and shall be limited to those established by law and agreements between such Note Owners and the Clearing Agency and/or the Clearing Agency Participants. Unless and until Definitive Notes are issued pursuant to Section 2.12, the initial
Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit payments of principal of and interest on the Notes to such Clearing Agency Participants; 

(v) whenever this Indenture requires or permits actions to be taken based upon instructions or directions of Noteholders
evidencing a specified percentage of the Outstanding Amount of the Notes, the Clearing Agency shall be deemed to represent such percentage only to the extent that it has received instructions to such effect from Note Owners and/or Clearing Agency
Participants owning or representing, respectively, such required percentage of the beneficial interest in the Notes and has delivered such instructions to the Trustee; and 

(vi) Note Owners may receive copies of any reports sent to Noteholders pursuant to this Indenture, upon written request,
together with a certification that they are Note Owners and payment of reproduction and postage expenses associated with the distribution of such reports, from the Trustee at the Corporate Trust Office. 

SECTION 2.11 Notices to Clearing Agency. Whenever a notice or other communication to the Noteholders is required under this Indenture,
unless and until Definitive Notes shall have been issued to Note Owners pursuant to Section 2.12, the Trustee shall give all such notices and communications specified herein to be given to the Noteholders to the Clearing Agency, and shall have
no obligation to the Note Owners. 
 SECTION 2.12 Definitive Notes. If (i) the Servicer advises the Trustee in writing that the
Clearing Agency is no longer willing or able to properly discharge its responsibilities with respect to the Notes representing the Book Entry Notes, and the Servicer is unable to locate a qualified successor or (ii) after the occurrence of an
Event of Default, the Majority Noteholders advise the Trustee through the Clearing Agency in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Note Owners, then the Clearing
Agency shall notify all Note Owners and the Trustee of the occurrence of any such event and of the availability of Definitive Notes to Note Owners requesting the same. Upon surrender to the Trustee of the typewritten Note or Notes representing the
Book Entry Notes by the Clearing Agency, accompanied by registration instructions, the Issuer shall execute and the Trustee shall authenticate the Definitive Notes in accordance with the instructions of the Clearing Agency. Additionally, the Holder
of a Class D 

  
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Note or a Class E Note who is not eligible to hold such Class D Note or Class E Note, as applicable, through the Clearing Agency may instruct the Trustee to issue a Definitive Note in accordance
with Section 2.4 hereof. None of the Issuer, the Note Registrar or the Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be fully protected in relying on, such instructions. Upon the
issuance of Definitive Notes, the Trustee and the Trust Collateral Agent shall recognize the Holders of the Definitive Notes as Noteholders. 

ARTICLE III 
 Covenants

 SECTION 3.1 Payment of Principal and Interest. The Issuer will duly and punctually pay the principal of and interest on the
Notes in accordance with the terms of the Notes and this Indenture. Without limiting the foregoing, the Issuer will cause to be distributed all amounts on deposit in the Note Distribution Account on a Distribution Date deposited therein pursuant to
the Sale and Servicing Agreement (i) for the benefit of the Class A-l Notes, to Class A-1 Noteholders, (ii) for the benefit of the Class A-2 Notes, to Class A-2 Noteholders, (iii) for the benefit of the
Class A-3 Notes, to Class A-3 Noteholders, (iv) for the benefit of the Class B Notes, to the Class B Noteholders, (v) for the benefit of the Class C Notes, to the Class C Noteholders, (vi) for the benefit of the Class D
Notes, to the Class D Noteholders, and (vii) for the benefit of the Class E Notes, to the Class E Noteholders. Amounts properly withheld under the Code by any Person from a payment to any Noteholder of interest and/or principal shall be
considered as having been paid by the Issuer to such Noteholder for all purposes of this Indenture. 
 SECTION 3.2 Maintenance of Office
or Agency. The Issuer will maintain in Dallas, Texas, an office or agency where Notes may be surrendered for registration of transfer or exchange, and an office in New York, New York where notices and demands to or upon the Issuer in respect of
the Notes and this Indenture may be served. The Issuer hereby initially appoints the Trustee to serve as its agent for the foregoing purposes. The Issuer will give prompt written notice to the Trustee of the location, and of any change in the
location, of any such office or agency. If at any time the Issuer shall fail to maintain any such office or agency or shall fail to furnish the Trustee with the address thereof, such surrenders, notices and demands may be made or served at the
Corporate Trust Office, and the Issuer hereby appoints the Trustee as its agent to receive all such surrenders, notices and demands. 

SECTION 3.3 Money for Payments to be Held in Trust. On or before each Distribution Date and Redemption Date, the Issuer shall deposit
or cause to be deposited in the Note Distribution Account from the Collection Account an aggregate sum sufficient to pay the amounts then becoming due under the Notes, such sum to be held in trust for the benefit of the Persons entitled thereto and
(unless the Note Paying Agent is the Trustee) shall promptly notify the Trustee of its action or failure so to act. 
 The Issuer will cause
each Note Paying Agent other than the Trustee or the Trust Collateral Agent to execute and deliver to the Trustee an instrument in which such Note Paying Agent shall agree with the Trustee (and if the Trustee or the Trust Collateral Agent acts as
Note Paying Agent, it hereby so agrees), subject to the provisions of this Section, that such Note Paying Agent will: 

  
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 (i) hold all sums held by it for the payment of amounts due with respect to the
Notes 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 and pay such sums to such Persons as herein provided; 

(ii) give the Trustee (unless it is the same entity) written notice of any default by the Issuer (or any other obligor upon the
Notes) of which it has actual knowledge in the making of any payment required to be made with respect to the Notes; 
 (iii)
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 Note Paying Agent; 

(iv) immediately resign as a Note Paying Agent and forthwith pay to the Trustee all sums held by it in trust for the payment of
Notes if at any time it ceases to meet the standards required to be met by a Note Paying Agent at the time of its appointment; and 

(v) comply with all requirements of the Code with respect to the withholding from any payments made by it on any Notes of any
applicable withholding taxes imposed thereon and with respect to any applicable reporting requirements in connection therewith. 
 The
Issuer may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, by Issuer Order direct any Note Paying Agent to pay to the Trustee all sums held in trust by such Note Paying Agent, such
sums to be held by the Trustee upon the same trusts as those upon which the sums were held by such Note Paying Agent; and upon such a payment by any Note Paying Agent to the Trustee, such Note Paying Agent shall be released from all further
liability with respect to such money. 
 Subject to applicable laws with respect to the escheat of funds, any money held by the
Trustee, the Trust Collateral Agent or any Note Paying Agent in trust for the payment of any amount due with respect to any Note and remaining unclaimed for two years after such amount has become due and payable shall be discharged from such trust
and be paid to the Issuer on Issuer Request and shall be deposited by the Trustee in the Collection Account; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Issuer for payment thereof (but only to the
extent of the amounts so paid to the Issuer), and all liability of the Trustee, the Trust Collateral Agent or such Note Paying Agent with respect to such trust money shall thereupon cease; provided, however, that the Trustee, the Trust
Collateral Agent or such Note Paying Agent, before being required to make any such repayment, shall at the expense of the Issuer cause to be published once, in a newspaper published in the English language, customarily published on each Business Day
and of general circulation in New York, New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money 

  
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then remaining will be repaid to the Issuer. The Trustee or the Trust Collateral Agent shall also adopt and employ, at the expense of the Issuer, any other reasonable means of notification of
such repayment it chooses, if any (including, but not limited to, mailing notice of such repayment to Holders whose Notes have been called but have not been surrendered for redemption or whose right to or interest in moneys due and payable but not
claimed is determinable from the records of the Trustee or of any Note Paying Agent, at the last address of record for each such Holder). 

SECTION 3.4 Existence. Except as otherwise permitted by the provisions of Section 3.10, the Issuer will keep in full effect its
existence, rights and franchises as a statutory trust under the laws of the State of Delaware (unless it becomes, or any successor Issuer hereunder is or becomes, organized under the laws of any other state or of the United States of America, in
which case the Issuer will keep in full effect its existence, rights and franchises under the laws of such other jurisdiction) and will obtain and preserve its qualification to do business in each jurisdiction in which such qualification is or shall
be necessary to protect the validity and enforceability of this Indenture, the Notes, the Collateral and each other instrument or agreement included in the Trust Estate. 

SECTION 3.5 Protection of Trust Estate. The Issuer intends the security interest Granted pursuant to this Indenture in favor of the
Issuer Secured Parties to be prior to all other liens in respect of the Trust Estate, and the Issuer shall take all actions necessary to obtain and maintain, in favor of the Trust Collateral Agent, for the benefit of the Issuer Secured Parties, a
first lien on and a first priority, perfected security interest in the Trust Estate. The Issuer will from time to time prepare (or shall cause to be prepared), execute and deliver all such supplements and amendments hereto and all such financing
statements, continuation statements, instruments of further assurance and other instruments, and will take such other action necessary or advisable to: 

(i) Grant more effectively all or any portion of the Trust Estate; 

(ii) maintain or preserve the lien and security interest (and the priority thereof) in favor of the Trust Collateral Agent for
the benefit of the Issuer Secured Parties created by this Indenture or carry out more effectively the purposes hereof; 

(iii) perfect, publish notice of or protect the validity of any Grant made or to be made by this Indenture; 

(iv) enforce any of the Collateral; 

(v) preserve and defend title to the Trust Estate and the rights of the Trust Collateral Agent in such Trust Estate against the
claims of all persons and parties; and 
 (vi) pay all taxes or assessments levied or assessed upon the Trust Estate when
due. 
 If at the time the Servicer ceases to act as Servicer, in accordance with Section 9.2 or Section 8.6 of the Sale and Servicing Agreement,
no Person has accepted its appointment as successor Servicer, the Issuer hereby designates the Trust Collateral Agent its agent and attorney-in-fact to execute any financing statement, continuation statement or other instrument required by the Trust
Collateral Agent pursuant to this Section. 

  
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 SECTION 3.6 Opinions as to Trust Estate. 

(a) On the Closing Date, the Issuer shall furnish to the Trustee and the Trust Collateral Agent an Opinion of Counsel either stating that, in
the opinion of such counsel, such action has been taken with respect to the recording and filing of this Indenture, any indentures supplemental hereto, and any other requisite documents, and with respect to the execution and filing of any financing
statements and continuation statements, as are necessary to perfect and make effective the first priority lien and security interest in favor of the Trust Collateral Agent, for the benefit of the Issuer Secured Parties, created by this Indenture and
reciting the details of such action, or stating that, in the opinion of such counsel, no such action is necessary to make such lien and security interest effective. 

(b) Within 120 days after the beginning of each calendar year, beginning with the first calendar year beginning more than six months after the
Closing Date, the Issuer shall furnish to the Trustee and Trust Collateral Agent an Opinion of Counsel either stating that, in the opinion of such counsel, such action has been taken with respect to the recording, filing, re-recording and refiling
of this Indenture, any indentures supplemental hereto and any other requisite documents and with respect to the execution and filing of any financing statements and continuation statements as are necessary to maintain the lien and security interest
created by this Indenture and reciting the details of such action or stating that in the opinion of such counsel no such action is necessary to maintain such lien and security interest. Such Opinion of Counsel shall also describe the recording,
filing, re-recording and refiling of this Indenture, any indentures supplemental hereto and any other requisite documents and the execution and filing of any financing statements and continuation statements that will, in the opinion of such counsel,
be required to maintain the lien and perfected security interest of this Indenture until January 31 in the following calendar year. 

SECTION 3.7 Performance of Obligations; Servicing of Receivables. 

(a) The Issuer will not take any action and will use its best efforts not to permit any action to be taken by others that would release any
Person from any of such Person’s material covenants or obligations under any instrument or agreement included in the Trust Estate or that would result in the amendment, hypothecation, subordination, termination or discharge of, or impair the
validity or effectiveness of, any such instrument or agreement, except as ordered by any bankruptcy or other court or as expressly provided in this Indenture, the Basic Documents or such other instrument or agreement. 

(b) The Issuer may contract with other Persons to assist it in performing its duties under this Indenture, and any performance of such duties
by a Person identified to the Trustee in an Officer’s Certificate of the Issuer shall be deemed to be actions taken by the Issuer. Initially, the Issuer has contracted with the Servicer to assist the Issuer in performing its duties under this
Indenture. 

  
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 (c) The Issuer will punctually perform and observe all of its obligations and agreements
contained in this Indenture, the Basic Documents and in the instruments and agreements included in the Trust Estate, including, but not limited to, preparing (or causing to prepared) and filing (or causing to be filed) all UCC financing statements
and continuation statements required to be filed by the terms of this Indenture and the Sale and Servicing Agreement in accordance with and within the time periods provided for herein and therein. Except as otherwise expressly provided therein, the
Issuer shall not waive, amend, modify, supplement or terminate any Basic Document or any provision thereof without the consent of the Trustee or the Majority Noteholders. 

(d) If a Responsible Officer (as defined in the Trust Agreement) of the Owner Trustee shall have actual knowledge of the occurrence of a
Servicer Termination Event under the Sale and Servicing Agreement, the Issuer shall promptly notify the Trustee and the Rating Agencies thereof in accordance with Section 11.4, and shall specify in such notice the action, if any, the Issuer is
taking in respect of such default. If a Servicer Termination Event shall arise from the failure of the Servicer to perform any of its duties or obligations under the Sale and Servicing Agreement with respect to the Receivables, the Issuer shall take
all reasonable steps available to it to remedy such failure. 
 (e) The Issuer agrees that it will not waive timely performance or
observance by the Servicer, AmeriCredit or the Seller of their respective duties under the Basic Documents if the effect thereof would adversely affect the Holders of the Notes. 

SECTION 3.8 Negative Covenants. So long as any Notes are Outstanding, the Issuer shall not: 

(i) except as expressly permitted by this Indenture or the Basic Documents, sell, transfer, exchange or otherwise dispose of
any of the properties or assets of the Issuer, including those included in the Trust Estate, unless directed to do so by the Controlling Party; 

(ii) claim any credit on, or make any deduction from the principal or interest payable in respect of, the Notes (other than
amounts properly withheld from such payments under the Code) or assert any claim against any present or former Noteholder by reason of the payment of the taxes levied or assessed upon any part of the Trust Estate; or 

(iii) (A) permit the validity or effectiveness of this Indenture to be impaired, or permit the lien in favor of the Trust
Collateral Agent created by this Indenture to be amended, hypothecated, subordinated, terminated or discharged, or permit any Person to be released from any covenants or obligations with respect to the Notes under this Indenture except as may be
expressly permitted hereby, (B) permit any lien, charge, excise, claim, security interest, mortgage or other encumbrance (other than the lien of this Indenture) to be created on or extend to or otherwise arise upon or burden the Trust Estate or
any part thereof or any interest therein or the proceeds thereof (other than tax liens, mechanics’ liens and other liens that arise by operation of law, in each case on a Financed Vehicle and arising solely as a result of an action or omission
of the related 

  
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Obligor), (C) permit the lien of this Indenture not to constitute a valid first priority (other than with respect to any such tax, mechanics’ or other lien) security interest in the
Trust Estate or (D) except as otherwise expressly provided therein, amend, modify or fail to comply with the provisions of the Basic Documents without the prior written consent of the Controlling Party. 

SECTION 3.9 Annual Statement as to Compliance. An Authorized Officer of the Servicer, on behalf of the Issuer, will deliver to the
Trustee and the Trust Collateral Agent, within 120 days after the end of each fiscal year of the Issuer (commencing with the fiscal year ended December 31, 2015), and otherwise in compliance with the requirements of TIA Section 314(a)(4)
an Officer’s Certificate stating, as to the Authorized Officer signing such Officer’s Certificate, that 
 (i) a
review of the activities of the Issuer during such year and of performance under this Indenture has been made under such Authorized Officer’s supervision; and 

(ii) to the best of such Authorized Officer’s knowledge, based on such review, the Issuer has complied with all conditions
and covenants under this Indenture and the other Basic Documents throughout such year, or, if there has been a default in the compliance of any such condition or covenant, specifying each such default known to such Authorized Officer and the nature
and status thereof. 
 SECTION 3.10 Issuer May Consolidate, Etc. Only on Certain Terms. 

(a) The Issuer shall not consolidate or merge with or into any other Person, unless: 

(i) the Person (if other than the Issuer) formed by or surviving such consolidation or merger shall be a Person organized and
existing under the laws of the United States of America or any state 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 interest on all Notes and the performance or observance of every agreement and covenant of this Indenture on the part of the Issuer to be performed or observed, all as provided herein; 

(ii) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;

 (iii) the Rating Agency Condition shall have been satisfied with respect to such transaction; 

(iv) the Issuer shall have received an Opinion of Counsel (and shall have delivered copies thereof to the Trustee) to the
effect that such transaction will not for federal income tax purposes cause the Issuer to be treated as an association (or publicly traded partnership) taxable as a corporation, create a reissuance of the Notes or cause the Notes that were
characterized as debt at the time of their issuance to fail to qualify as debt; 

  
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 (v) any action as is necessary to maintain the lien and security interest created
by this Indenture shall have been taken; 
 (vi) the Issuer shall have delivered to the Trustee an Officers’ Certificate
and an Opinion of Counsel each stating that such consolidation or merger and such supplemental indenture comply with this Article III and that all conditions precedent herein provided for relating to such transaction have been complied with
(including any filing required by the Exchange Act); and 
 (vii) the Issuer or the Person (if other than the Issuer) formed
by or surviving such consolidation or merger has a net worth, immediately after such consolidation or merger, that is (a) greater than zero and (b) not less than the net worth of the Issuer immediately prior to giving effect to such
consolidation or merger. 
 (b) The Issuer shall not convey or transfer all or substantially all of its properties or assets, including
those included in the Trust Estate, to any Person, unless 
 (i) the Person that acquires by conveyance or transfer the
properties and assets of the Issuer the conveyance or transfer of which is hereby restricted shall (A) be a United States citizen or a Person organized and existing under the laws of the United States of America or any state, (B) 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 interest on all Notes and the performance or observance of every agreement
and covenant of this Indenture and each of the Basic Documents on the part of the Issuer to be performed or observed, all as provided herein, (C) expressly agree by means of such supplemental indenture that all right, title and interest so
conveyed or transferred shall be subject and subordinate to the rights of Holders of the Notes, (D) unless otherwise provided in such supplemental indenture, expressly agree to indemnify, defend and hold harmless the Issuer against and from any
loss, liability or expense arising under or related to this Indenture and the Notes and (E) expressly agree by means of such supplemental indenture that such Person (or if a group of persons, then one specified Person) shall prepare (or cause
to be prepared) and make all filings with the Commission (and any other appropriate Person) required by the Exchange Act in connection with the Notes; 

(ii) immediately after giving effect to such transaction, no Default or Event of Default shall have occurred and be continuing;

  
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 (iii) the Rating Agency Condition shall have been satisfied with respect to such
transaction; 
 (iv) the Issuer shall have received an Opinion of Counsel (and shall have delivered copies thereof to the
Trustee) to the effect that such transaction will not for federal income tax purposes cause the Issuer to be treated as an association (or publicly traded partnership) taxable as a corporation, create a reissuance of the Notes or cause the Notes
that were characterized as debt at the time of their issuance to fail to qualify as debt; 
 (v) any action as is necessary
to maintain the lien and security interest created by this Indenture shall have been taken; 
 (vi) the Issuer shall have
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such conveyance or transfer and such supplemental indenture comply with this Article III and that all conditions precedent herein provided for
relating to such transaction have been complied with (including any filing required by the Exchange Act); and 
 (vii) the
Issuer or the Person (if other than the Issuer) formed by or surviving such conveyance or transfer has a net worth, immediately after such conveyance or transfer, that is (a) greater than zero and (b) not less than the net worth of the
Issuer immediately prior to giving effect to such conveyance or transfer. 
 SECTION 3.11 Successor or Transferee. 

(a) Upon any consolidation or merger of the Issuer in accordance with Section 3.10(a), the Person formed by or surviving such
consolidation or merger (if other than the Issuer) 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 Person had been named as the Issuer herein. 

(b) Upon a conveyance or transfer of all the assets and properties of the Issuer pursuant to Section 3.10(b), AmeriCredit Automobile
Receivables Trust 2015-1 will be released from every covenant and agreement of this Indenture to be observed or performed on the part of the Issuer with respect to the Notes immediately upon the delivery of written notice to the Trustee stating that
AmeriCredit Automobile Receivables Trust 2015-1 is to be so released. 
 SECTION 3.12 No Other Business. The Issuer shall not engage
in any business other than financing, purchasing, owning, selling and managing the Receivables in the manner contemplated by this Indenture and the Basic Documents and activities incidental thereto. 

  
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 SECTION 3.13 No Borrowing. The Issuer shall not issue, incur, assume, guarantee or
otherwise become liable, directly or indirectly, for any Indebtedness except for (i) the Notes and (ii) any other Indebtedness permitted by or arising under the Basic Documents. The proceeds of the Notes shall be used exclusively to fund
the Issuer’s purchase of the Receivables and the other assets specified in the Sale and Servicing Agreement, to fund the Reserve Account and to pay the Issuer’s organizational, transactional and start-up expenses. 

SECTION 3.14 Servicer’s Obligations. The Issuer shall cause the Servicer to comply with Sections 4.9, 4.10 and 4.11 of the Sale
and Servicing Agreement. 
 SECTION 3.15 Guarantees, Loans, Advances and Other Liabilities. Except as contemplated by the Sale and
Servicing Agreement or this Indenture, the Issuer shall not make any loan or advance or credit to, or guarantee (directly or indirectly or by an instrument having the effect of assuring another’s payment or performance on any obligation or
capability of so doing or otherwise), endorse or otherwise become contingently liable, directly or indirectly, in connection with the obligations, stocks or dividends of, or own, purchase, repurchase or acquire (or agree contingently to do so) any
stock, obligations, assets or securities of, or any other interest in, or make any capital contribution to, any other Person. 
 SECTION
3.16 Capital Expenditures. The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty). 

SECTION 3.17 Compliance with Laws. The Issuer shall comply with the requirements of all applicable laws, the non-compliance with which
would, individually or in the aggregate, materially and adversely affect the ability of the Issuer to perform its obligations under the Notes, this Indenture or any Basic Document. 

SECTION 3.18 Restricted Payments. The Issuer shall not, directly or indirectly, (i) pay any dividend or make any distribution (by
reduction of capital or otherwise), whether in cash, property, securities or a combination thereof, to the Owner Trustee or any owner of a beneficial interest in the Issuer or otherwise with respect to any ownership or equity interest or security in
or of the Issuer or to the Servicer, (ii) redeem, purchase, retire or otherwise acquire for value any such ownership or equity interest or security or (iii) set aside or otherwise segregate any amounts for any such purpose; provided,
however, that the Issuer may make, or cause to be made, distributions to the Servicer, the Owner Trustee, the Trustee and the Certificateholder as permitted by, and to the extent funds are available for such purpose under, the Sale and Servicing
Agreement or Trust Agreement. The Issuer will not, directly or indirectly, make payments to or distributions from the Collection Account except in accordance with this Indenture and the Basic Documents. 

SECTION 3.19 Notice of Events of Default. Upon a Responsible Officer (as defined in the Trust Agreement) of the Owner Trustee having
actual knowledge thereof, the Issuer agrees to give the Trustee and the Rating Agencies prompt written notice of each Event of Default hereunder and each default on the part of the Servicer or the Seller of its obligations under the Sale and
Servicing Agreement. In the absence of actual knowledge, the Owner Trustee may conclusively assume that there is no default or Event of Default. 

  
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 SECTION 3.20 Further Instruments and Acts. Upon request of the Trustee, the Issuer will
execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

SECTION 3.21 Amendments of Sale and Servicing Agreement and Trust Agreement. The Issuer shall not agree to any amendment to
Section 12.1 of the Sale and Servicing Agreement or Section 10.1 of the Trust Agreement to eliminate the requirements thereunder that the Trustee or the Holders of the Notes consent to amendments thereto as provided therein. 

SECTION 3.22 Income Tax Characterization. For purposes of federal income, state and local income and franchise and any other income
taxes, the Issuer will treat the Notes that are owned or beneficially owned by a Person other than the Seller or its Affiliates as indebtedness and hereby instructs the Trustee, the Trust Collateral Agent and each Noteholder (or beneficial Note
Owner) shall be deemed, by virtue of acquisition of an interest in such Note, to have agreed, to treat the Notes as indebtedness for all applicable tax reporting purposes. 

ARTICLE IV 
 Satisfaction and
Discharge 
 SECTION 4.1 Satisfaction and Discharge of Indenture. This Indenture shall cease to be of further effect with respect
to the Notes except as to (i) rights of registration of transfer and exchange, (ii) substitution of mutilated, destroyed, lost or stolen Notes, (iii) rights of Noteholders to receive payments of principal thereof and interest thereon,
(iv) Sections 3.3, 3.4, 3.5, 3.8, 3.10, 3.12, 3.13, 3.20, 3.21 and 3.22, (v) the rights and immunities of the Trustee and the Trust Collateral Agent hereunder (including, without limitation, the rights of the Trustee and the Trust
Collateral Agent under Section 6.7) and the obligations of the Trustee under Section 4.2 and (vi) the rights of Noteholders as beneficiaries hereof with respect to the property so deposited with the Trustee payable to all or any of
them, and the Trustee, on demand of and at the expense of the Issuer, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture with respect to the Notes, when 

(A) either 

(1) all Notes theretofore authenticated and delivered (other than (i) Notes that have been destroyed, lost or stolen and
that have been replaced or paid as provided in Section 2.5 and (ii) Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from
such trust, as provided in Section 3.3) have been delivered to the Trustee for cancellation; or 
 (2) all Notes not
theretofore delivered to the Trustee for cancellation 
 (i) have become due and payable, 

  
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 (ii) will become due and payable at their respective Final Scheduled Distribution
Dates within one year, or 
 (iii) are to be called for redemption within one year under arrangements satisfactory to the
Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, 
 and the Issuer, in the case
of (i), (ii) or (iii) above, has irrevocably deposited or caused to be irrevocably deposited with the Trust Collateral Agent cash or direct obligations of or obligations guaranteed by the United States of America (which will mature prior
to the date such amounts are payable), in trust for such purpose, in an amount sufficient to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation when due to the Final Scheduled
Distribution Date or Redemption Date (if Notes shall have been called for redemption pursuant to Section 10.1(a)) as the case may be; and 

(B) the Issuer has paid or caused to be paid all amounts owed to the Trustee and the Trust Collateral Agent, including the
Trustee Issuer Secured Obligations. 
 (C) the Issuer has delivered to the Trustee and the Trust Collateral Agent an
Officer’s Certificate, an Opinion of Counsel and if required by the TIA, the Trustee or the Trust Collateral Agent an Independent Certificate from a firm of certified public accountants, each meeting the applicable requirements of
Section 11.1(a) and each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. If this Indenture has been satisfied and discharged in accordance with the
provisions of Section 4.1(A)(2) then such Opinion of Counsel shall also include an opinion that amounts deposited by the Issuer in accordance with Section 4.1(A)(2) would not be characterized as a voidable preference. 

SECTION 4.2 Application of Trust Money. All moneys deposited with the Trustee pursuant to Section 4.1 hereof shall be held in
trust and applied by it, in accordance with the provisions of the Notes, this Indenture and the other Basic Documents, to the payment, either directly or through any Note Paying Agent, as the Trustee may determine, to the Holders of the particular
Notes for the payment or redemption of which such moneys have been deposited with the Trustee, of all sums due and to become due thereon for principal and interest; but such moneys need not be segregated from other funds except to the extent
required herein or in the Sale and Servicing Agreement or required by law. 
 SECTION 4.3 Repayment of Moneys Held by Note Paying
Agent. In connection with the satisfaction and discharge of this Indenture with respect to the Notes, all moneys then held by any Note Paying Agent other than the Trustee or the Trust Collateral Agent under the provisions of this Indenture with
respect to such Notes shall, upon demand of the Issuer, be paid to the Trustee to be held and applied according to Section 3.3 and thereupon such Note Paying Agent shall be released from all further liability with respect to such moneys. 

  
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 ARTICLE V 

Remedies 
 SECTION 5.1
Events of Default. “Event of Default,” wherever used herein, means any one of the following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of
law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(i) default in the payment of any interest when it becomes due and payable on (i) the Class A Notes, (ii) if no
Class A Notes are outstanding, the Class B Notes, (iii) if no Class A Notes or Class B Notes are outstanding, the Class C Notes, (iv) if no Class A Notes, Class B Notes or Class C Notes are outstanding, the Class D Notes or
(v) if no Class A Notes, Class B Notes, Class C Notes or Class D Notes are outstanding, the Class E Notes, and such default, in each case, shall continue for a period of five days; or 

(ii) default in the payment of the Outstanding Amount of any Note on the applicable Final Scheduled Distribution Date; or 

(iii) default in the observance or performance of any covenant or agreement of the Issuer made in this Indenture (other than a
covenant or agreement, a default in the observance or performance of which is elsewhere in this Section specifically dealt with), or any representation or warranty of the Issuer made in this Indenture, in any Basic Document or in any certificate or
any other writing delivered pursuant hereto or in connection herewith proving to have been incorrect in any material respect as of the time when the same shall have been made, and such default shall continue or not be cured, or the circumstance or
condition in respect of which such misrepresentation or warranty was incorrect shall not have been eliminated or otherwise cured, for a period of 30 days (or for such longer period, not in excess of 90 days, as may be reasonably necessary to remedy
such default; provided that such default is capable of remedy within 90 days or less and the Servicer on behalf of the Issuer delivers an Officer’s Certificate to the Trustee to the effect that such default is capable of remedy within 90 days
or less and that the Issuer has commenced, or will promptly commence and diligently pursue, all reasonable efforts to remedy such default) after there shall have been given, by registered or certified mail, to the Issuer by the Trustee or to the
Issuer and the Trustee by the Holders of at least 25% of the Outstanding Amount of the Notes, a written notice specifying such default or incorrect representation or warranty and requiring it to be remedied and stating that such notice is a
“Notice of Default” hereunder; or 
 (iv) the filing of a decree or order for relief by a court having
jurisdiction in the premises in respect of the Issuer or any substantial part of the Trust Estate in an involuntary case under any applicable federal or State bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a
receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Issuer or for any substantial part of the Trust Estate, or ordering the winding-up or liquidation of the Issuer’s affairs, and such decree or order
shall remain unstayed and in effect for a period of 60 consecutive days; or 

  
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 (v) the commencement by the Issuer of a voluntary case under any applicable
federal or State bankruptcy, insolvency or other similar law now or hereafter in effect, or the consent by the Issuer to the entry of an order for relief in an involuntary case under any such law, or the consent by the Issuer to the appointment or
taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official of the Issuer or for any substantial part of the Trust Estate, or the making by the Issuer of any general assignment for the benefit of
creditors, or the failure by the Issuer generally to pay its debts as such debts become due, or the taking of action by the Issuer in furtherance of any of the foregoing; or 

(vi) the Issuer becoming taxable as an association or a publicly traded partnership taxable as a corporation for federal or
state income tax purposes. 
 The Issuer shall deliver to the Trustee, within five days after the occurrence thereof, written notice in the
form of an Officer’s Certificate of any event which with the giving of notice and the lapse of time would become an Event of Default under clause (iii), its status and what action the Issuer is taking or proposes to take with respect thereto.

 SECTION 5.2 Rights Upon Event of Default. 

(a) If an Event of Default shall have occurred and be continuing, the Trustee in its discretion may, or if so requested in writing by the
Majority Noteholders shall, declare by written notice to the Issuer that the Notes become, whereupon they shall become, immediately due and payable at par, together with accrued interest thereon. 

(b) At any time after such declaration of acceleration of maturity 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 V provided, the Majority Noteholders, by written notice to the Issuer and the Trustee, may rescind and annul such declaration and its consequences if: 

(i) the Issuer has paid or deposited with the Trustee a sum sufficient to pay: 

(A) all payments of principal of and interest on all Notes and all other amounts that would then be due hereunder or upon such
Notes if the Event of Default giving rise to such acceleration had not occurred; and 
 (B) all sums paid or advanced by the
Trustee or the Trust Collateral Agent hereunder and the reasonable compensation, expenses, disbursements, advances and indemnities of the Trustee, the Trust Collateral Agent and their respective agents and counsel; and 

(C) all other outstanding fees and expenses of the Issuer; and 

  
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 (ii) all Events of Default, other than the nonpayment of the principal of the
Notes that has become due solely by such acceleration, have been cured or waived as provided in Section 5.13. 
 No such rescission
shall affect any subsequent default or impair any right consequent thereto. 
 SECTION 5.3 Collection of Indebtedness and Suits for
Enforcement by Trustee. 
 (a) The Issuer covenants that if (i) default is made in the payment of any interest on any Note when the
same becomes due and payable, and such default continues for a period of five days, or (ii) default is made in the payment of the principal of or any installment of the principal of any Note when the same becomes due and payable, the Issuer
will pay to the Trustee, for the benefit of the Holders of the Notes, the whole amount then due and payable on such Notes for principal and interest, with interest upon the overdue principal, and, to the extent payment at such rate of interest shall
be legally enforceable, upon overdue installments of interest, at the applicable Interest Rate 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, advances and indemnities of the Trustee, the Trust Collateral Agent and their respective agents and counsel. 
 (b)
Each Issuer Secured Party hereby irrevocably and unconditionally appoints the Controlling Party as the true and lawful attorney-in-fact of such Issuer Secured Party for so long as such Issuer Secured Party is not the Controlling Party, with full
power of substitution, to execute, acknowledge and deliver any notice, document, certificate, paper, pleading or instrument and to do in the name of the Controlling Party as well as in the name, place and stead of such Issuer Secured Party such
acts, things and deeds for or on behalf of and in the name of such Issuer Secured Party under this Indenture (including specifically under Section 5.4) and under the Basic Documents which such Issuer Secured Party could or might do or which may
be necessary, desirable or convenient in such Controlling Party’s sole discretion to effect the purposes contemplated hereunder and under the Basic Documents and, without limitation, following the occurrence of an Event of Default, exercise
full right, power and authority to take, or defer from taking, any and all acts with respect to the administration, maintenance or disposition of the Trust Estate. 

(c) If an Event of Default occurs and is continuing, the Trustee may in its discretion, as more particularly provided in Section 5.4, and
shall, at the direction of the Majority Noteholders, proceed to protect and enforce its rights and the rights of the Noteholders by such appropriate Proceedings as the Trustee or the Trustee at the direction of such Majority Noteholders shall deem
most effective 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 or legal or
equitable right vested in the Trustee by this Indenture or by law. 

  
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 (d) Notwithstanding anything to the contrary contained in this Indenture (including, without
limitation, Sections 5.4(a), 5.12, 5.13 and 5.17), if the Issuer fails to perform its obligations under Section 10.1(b) hereof when and as due, the Trustee shall, at the written direction of the Majority Noteholders, proceed to protect and
enforce its rights and the rights of the Noteholders by such appropriate Proceedings as the Trustee or the Majority Noteholders, shall deem most effective to protect and enforce any such rights, whether for specific performance 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 or legal or equitable right vested in the Trustee by this Indenture or by law. 

(e) In case there shall be pending, relative to the Issuer or any other obligor upon the Notes or any Person having or claiming an ownership
interest in the Trust Estate, proceedings under Title 11 of the United States Code or any other applicable federal or state bankruptcy, insolvency or other similar law, or in case a receiver, assignee or trustee in bankruptcy or reorganization,
liquidator, sequestrator or similar official shall have been appointed for or taken possession of the Issuer or its property or such other obligor or Person, or in case of any other comparable Proceedings relative to the Issuer or other obligor upon
the Notes, or to the creditors or property of the Issuer or such other obligor, the Trustee, irrespective of whether the principal of any Notes shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of
whether the Trustee shall have made any demand pursuant to the provisions of this Section, shall be entitled and empowered, by intervention in such proceedings or otherwise: 

(i) to file and prove a claim or claims for the whole amount of principal and interest owing and unpaid in respect of the Notes
and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation to the Trustee and each predecessor Trustee, and their respective agents,
attorneys and counsel, and for reimbursement of all expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee, except as a result of negligence, bad faith or willful misconduct) and of the Noteholders
allowed in such Proceedings; 
 (ii) unless prohibited by applicable law and regulations, to vote on behalf of the
Noteholders in any election of a trustee, a standby trustee or person performing similar functions in any such Proceedings; 

(iii) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute all
amounts received with respect to the claims of the Noteholders and of the Trustee on their behalf; and 
 (iv) to file such
proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee or the Noteholders allowed in any Proceedings relative to the Issuer, its creditors and its property; 

  
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 and any trustee, receiver, liquidator, custodian or other similar official in any such Proceeding is hereby
authorized by each of such Noteholders to make payments to the Trustee, and, in the event that the Trustee shall consent to the making of payments directly to such Noteholders, to pay to the Trustee such amounts as shall be sufficient to cover
reasonable compensation to the Trustee, each predecessor Trustee and their respective agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made, by the Trustee and each predecessor Trustee except as a
result of negligence or bad faith. 
 (f) Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or
vote for or accept or adopt on behalf of any Noteholder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any
Noteholder in any such Proceeding except, as aforesaid, to vote for the election of a trustee in bankruptcy or similar person. 
 (g) All
rights of action and of asserting claims under this Indenture or under any of the Notes, may be enforced by the Trustee without the possession of any of the Notes or the production thereof in any trial or other proceedings relative thereto, and any
such action or Proceedings instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment, subject to the payment of the expenses, disbursements and compensation of the Trustee, each
predecessor Trustee and their respective agents and attorneys, shall be for the ratable benefit of the Holders of the Notes. 
 (h) In any
Proceedings brought by the Trustee (and also any Proceedings involving the interpretation of any provision of this Indenture), the Trustee shall be held to represent all the Holders of the Notes, and it shall not be necessary to make any Noteholder
a party to any such proceedings. 
 SECTION 5.4 Remedies. 

(a) If an Event of Default shall have occurred and be continuing, the Trustee may, or at the direction of the Majority Noteholders shall, do
one or more of the following (subject to Section 5.5): 
 (i) institute Proceedings in its own name and as trustee of an
express trust for the collection of all amounts then payable on the Notes or under this Indenture with respect thereto, whether by declaration or otherwise, enforce any judgment obtained, and collect from the Issuer and any other obligor upon such
moneys adjudged due; 
 (ii) institute Proceedings from time to time for the complete or partial foreclosure of this
Indenture with respect to the Trust Estate; 
 (iii) exercise any remedies of a secured party under the UCC and take any
other appropriate action to protect and enforce the rights and remedies of the Trustee and the Holders of the Notes; and 

(iv) direct the Trust Collateral Agent to sell the Trust Estate or any portion thereof or rights or interest therein, at one or
more public or private sales called and conducted in any manner permitted by law; provided, however, that, the Trustee may not sell or otherwise liquidate the Trust Estate following an Event of Default unless: 

  
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 (I) such Event of Default is of the type described in Section 5.1(i) or
(ii), or 
 (II) either 

(x) the Holders of 100% of the Outstanding Amount of the Notes consent thereto, or 

(y) the proceeds of such sale or liquidation distributable to the Noteholders are sufficient to discharge in full all amounts
then due and unpaid upon such Notes for principal and interest, or 
 (z) the Trust Estate will not continue to provide
sufficient funds for the payment of principal of and interest on the Notes as they would have become due if the Notes had not been declared due and payable, and the Trustee provides prior written notice to the Issuer (who shall deliver such notice
to the Rating Agencies) and obtains the consent of Holders of 66-2/3% of the Outstanding Amount of the Notes. 
 In determining such
sufficiency or insufficiency with respect to clauses (y) and (z), the Trustee may, but need not, obtain and conclusively rely upon an opinion of an Independent investment banking or accounting firm of national reputation (which expense shall be
reimbursable pursuant to Section 5.6(a)) as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such purpose. 

SECTION 5.5 Optional Preservation of the Receivables. If the Notes have been declared to be due and payable under Section 5.2
following an Event of Default and such declaration and its consequences have not been rescinded and annulled, the Trustee may, but need not, elect to direct the Trust Collateral Agent to maintain possession of the Trust Estate. It is the desire of
the parties hereto and the Noteholders that there be at all times sufficient funds for the payment of principal of and interest on the Notes, and the Trustee shall take such desire into account when determining whether or not to direct the Trust
Collateral Agent to maintain possession of the Trust Estate. In determining whether to direct the Trust Collateral Agent to maintain possession of the Trust Estate, the Trustee may, but need not, obtain and conclusively rely upon an opinion of an
Independent investment banking or accounting firm of national reputation (which expense shall be reimbursable pursuant to Section 5.6(a)) as to the feasibility of such proposed action and as to the sufficiency of the Trust Estate for such
purpose. 
 SECTION 5.6 Priorities. 

(a) Following (1) the acceleration of the Notes pursuant to Section 5.2 or (2) the occurrence of an Event of Default pursuant
to Sections 5.1(i), 5.1(ii), 5.1(iv), 5.1(v) or 5.1(vi) of this Indenture or (3) the receipt of Insolvency Proceeds pursuant to Section 10.1(b) of the Sale and Servicing Agreement, the Available Funds, plus any amounts on deposit in the
Reserve Account, including any money or property collected pursuant to Section 5.4 of this Indenture and any such Insolvency Proceeds, shall be applied by the Trust Collateral Agent on the related Distribution Date in the following order of
priority: 

  
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 FIRST: amounts due and owing and required to be distributed to the Servicer
(provided there is no Servicer Termination Event), the Lockbox Bank, the Lockbox Processor, the Owner Trustee, the Trustee and the Trust Collateral Agent, respectively, pursuant to clauses (i) and (ii) of Section 5.7(a) of the Sale
and Servicing Agreement and not previously distributed, ratably and without preference or priority of any kind without regard to any caps set forth in clause (ii) of Section 5.7(a) of the Sale and Servicing Agreement; 

SECOND: to the Class A Noteholders for amounts due and unpaid on the Class A Notes in respect of interest (including
any premium), ratably by principal balance of such Class A Notes, without preference or priority of any kind, according to the amounts due and payable on the Class A Notes in respect of interest (including any premium); 

THIRD: to Holders of the Class A Notes for amounts due and unpaid on the Class A Notes in respect of principal,
first, to the Holders of the Class A-1 Notes, until the Outstanding Amount of the Class A-1 Notes is reduced to zero, and second, ratably, without preference or priority of any kind, according to the amounts due and payable to the Holders
of the Class A-2 Notes and the Class A-3 Notes, until the aggregate Outstanding Amount of the Class A-2 Notes and the Class A-3 Notes is reduced to zero; 

FOURTH: to the Class B Noteholders for amounts due and unpaid on the Class B Notes in respect of interest (including any
premium), according to the amounts due and payable on the Class B Notes in respect of interest (including any premium); 

FIFTH: to Holders of the Class B Notes for amounts due and unpaid on the Class B Notes in respect of principal, according to
the amounts due and payable on the Class B Notes in respect of principal, until the Outstanding Amount of the Class B Notes is reduced to zero; 

SIXTH: to the Class C Noteholders for amounts due and unpaid on the Class C Notes in respect of interest (including any
premium), according to the amounts due and payable on the Class C Notes in respect of interest (including any premium); 

SEVENTH: to Holders of the Class C Notes for amounts due and unpaid on the Class C Notes in respect of principal, according to
the amounts due and payable on the Class C Notes in respect of principal, until the Outstanding Amount of the Class C Notes is reduced to zero; 

EIGHTH: to the Class D Noteholders for amounts due and unpaid on the Class D Notes in respect of interest (including any
premium), according to the amounts due and payable on the Class D Notes in respect of interest (including any premium); 

  
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 NINTH: to Holders of the Class D Notes for amounts due and unpaid on the Class D
Notes in respect of principal, according to the amounts due and payable on the Class D Notes in respect of principal, until the Outstanding Amount of the Class D Notes is reduced to zero; 

TENTH: to the Class E Noteholders for amounts due and unpaid on the Class E Notes in respect of interest (including any
premium), according to the amounts due and payable on the Class E Notes in respect of interest (including any premium); 

ELEVENTH: to Holders of the Class E Notes for amounts due and unpaid on the Class E Notes in respect of principal, according to
the amounts due and payable on the Class E Notes in respect of principal, until the Outstanding Amount of the Class E Notes is reduced to zero; 

TWELFTH: to the Certificateholder. 

Following the occurrence of an Event of Default pursuant to Section 5.1(iii) (unless the Notes have been accelerated), payments on the Notes shall be
made in the order and priority set forth in Section 5.7 of the Sale and Servicing Agreement. 
 (b) The Trustee may fix a record date
and payment date for any payment to Noteholders pursuant to this Section 5.6. At least 15 days before such record date the Issuer shall mail to each Noteholder and the Trustee a notice that states the record date, the payment date and the
amount to be paid. 
 SECTION 5.7 Limitation of Suits. No Holder of any Note 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: 

(i) such Holder has previously given written notice to the Trustee of a continuing Event of Default; 

(ii) the Holders of not less than 25% of the Outstanding Amount of the Notes have made written request to the Trustee to
institute such Proceeding in respect of such Event of Default in its own name as Trustee hereunder; 
 (iii) such Holder or
Holders have offered to the Trustee indemnity reasonably satisfactory to it against the costs, expenses and liabilities to be incurred in complying with such request; 

(iv) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute such
Proceedings; and 
 (v) no direction inconsistent with such written request has been given to the Trustee during such 60-day
period by the Majority Noteholders; 
 it being understood and intended that no one or more Noteholders 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 Noteholders or to obtain or to seek to obtain priority or preference over any other Holders or to enforce any right under this
Indenture, except in the manner herein provided. 

  
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 SECTION 5.8 Unconditional Rights of Noteholders To Receive Principal and Interest.
Notwithstanding any other provisions in this Indenture, the Holder of any Note shall have the right, which is absolute and unconditional, to receive payment of the principal of and interest, if any, on such Note on or after the respective due dates
thereof expressed in such Note or in this Indenture (or, in the case of redemption, on or after the Redemption Date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such
Holder. 
 SECTION 5.9 Restoration of Rights and Remedies. If the Controlling Party or any Noteholder has instituted any Proceeding
to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason or has been determined adversely to the Trustee or to such Noteholder, then and in every such case the Issuer, the Trustee and
the Noteholders 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 Noteholders shall continue as though no
such Proceeding had been instituted. 
 SECTION 5.10 Rights and Remedies Cumulative. No right or remedy herein conferred upon or
reserved to the Controlling Party or to the Noteholders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy.

 SECTION 5.11 Delay or Omission Not a Waiver. No delay or omission of the Trustee, the Trust Collateral Agent, the Controlling
Party or any Noteholder to exercise any right or remedy accruing upon any Default or Event of Default shall impair any such right or remedy or constitute a waiver of any such Default or Event of Default or an acquiescence therein. Every right and
remedy given by this Article V or by law to the Trustee, the Trust Collateral Agent, the Controlling Party or the Noteholders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee, the Trust Collateral Agent,
the Controlling Party or the Noteholders, as the case may be. 
 SECTION 5.12 Control by Noteholders. The Majority Noteholders shall
have the right to direct the time, method and place of conducting any Proceeding for any remedy available to the Trust Collateral Agent, as Controlling Party, or the Trustee, as applicable, with respect to the Notes or exercising any trust or power
conferred on the Controlling Party or the Trustee, as applicable; provided that 
 (i) such direction shall not be in
conflict with any rule of law or with this Indenture; 

  
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 (ii) subject to the express terms of Section 5.4, any direction to the
Trustee to sell or liquidate the Trust Estate shall be by the Noteholders representing not less than 100% of the Outstanding Amount of the Notes; 

(iii) if the conditions set forth in Section 5.5 have been satisfied and the Trustee elects to retain the Trust Estate
pursuant to such Section, then any direction to the Trustee by Noteholders representing less than 100% of the Outstanding Amount of the Notes to sell or liquidate the Trust Estate shall be of no force and effect; and 

(iv) the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction; 

provided, however, that, subject to Article VI, neither the Trustee nor the Trust Collateral Agent need take any action that it determines might
involve it in liability, financial or otherwise, without receiving indemnity satisfactory to it, or might materially adversely affect the rights of any Noteholders not consenting to such action. 

SECTION 5.13 Waiver of Past Defaults. Prior to the declaration of the acceleration of the maturity of the Notes as provided in
Section 5.4, the Majority Noteholders may waive any past Default or Event of Default and its consequences except a Default (a) in payment of principal of or interest on any of the Notes or (b) in respect of a covenant or provision
hereof which cannot be modified or amended without the consent of the Holder of each Note. In the case of any such waiver, the Issuer, the Trustee and the Holders of the Notes shall be restored to their former positions and rights hereunder,
respectively; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereto. 
 Upon any such
waiver, such Default shall cease to exist and be deemed to have been cured and not to have occurred, and any Event of Default arising therefrom shall be deemed to have been cured and not to have occurred, for every purpose of this Indenture; but no
such waiver shall extend to any subsequent or other Default or Event of Default or impair any right consequent thereto. 
 SECTION 5.14
Undertaking for Costs. All parties to this Indenture agree, and each Holder of any Note by such Holder’s 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 and expenses, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such
party litigant; but the provisions of this Section shall not apply to (a) any suit instituted by the Trustee, (b) any suit instituted by any Noteholder, or group of Noteholders, in each case holding in the aggregate more than 10% of the
Outstanding Amount of the Notes or (c) any suit instituted by any Noteholder for the enforcement of the payment of principal of or interest on any Note on or after the respective due dates expressed in such Note and in this Indenture (or, in
the case of redemption, on or after the Redemption Date). 

  
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 SECTION 5.15 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 wherever enacted, now or at any time hereafter in force, that 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 benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any
power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 

SECTION 5.16 Action on Notes. The Trustee’s right to seek and recover judgment on the Notes or under this Indenture shall not be
affected by the seeking, obtaining or application of any other relief under or with respect to this Indenture. Neither the lien of this Indenture nor any rights or remedies of the Trustee or the Noteholders shall be impaired by the recovery of any
judgment by the Trustee against the Issuer or by the levy of any execution under such judgment upon any portion of the Trust Estate or upon any of the assets of the Issuer. 

SECTION 5.17 Performance and Enforcement of Certain Obligations. 

(a) Promptly following a request from the Trustee to do so and at the Servicer’s expense, the Issuer agrees to take all such lawful
action as the Trustee may request to compel or secure the performance and observance by the Seller and the Servicer, as applicable, of each of their obligations to the Issuer under or in connection with the Sale and Servicing Agreement in accordance
with the terms thereof, and to exercise any and all rights, remedies, powers and privileges lawfully available to the Issuer under or in connection with the Sale and Servicing Agreement to the extent and in the manner directed by the Trustee,
including the transmission of notices of default on the part of the Seller or the Servicer thereunder and the institution of legal or administrative actions or Proceedings to compel or secure performance by the Seller or the Servicer of each of
their obligations under the Sale and Servicing Agreement. 
 (b) If an Event of Default has occurred and is continuing, the Controlling Party
may, and, at the written direction of the Holders of 66-2/3% of the Outstanding Amount of the Notes shall, subject to Article VI, exercise all rights, remedies, powers, privileges and claims of the Issuer against the Seller or the Servicer under or
in connection with the Sale and Servicing Agreement, including the right or power to take any action to compel or secure performance or observance by the Seller or the Servicer of each of their obligations to the Issuer thereunder and to give any
consent, request, notice, direction, approval, extension or waiver under the Sale and Servicing Agreement, and any right of the Issuer to take such action shall be suspended. 

  
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 ARTICLE VI 

The Trustee and the Trust Collateral Agent 

SECTION 6.1 Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and
the Basic Documents to which it is a party and use the same degree of care and skill in their exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an 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 duties, 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; however, the Trustee shall examine the certificates and opinions to determine whether or not they conform on their face to the requirements of this Indenture. 

(c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful
misconduct, except that: 
 (i) this paragraph does not limit the effect of paragraph (b) of this Section; 

(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer unless it is proved
that the Trustee was negligent in ascertaining the pertinent facts; and 
 (iii) the Trustee shall not be liable with respect
to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 5.12. 
 (d)
The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Issuer. 
 (e)
Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law or the terms of this Indenture or the Sale and Servicing Agreement. 

  
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 (f) No provision of this Indenture shall require the Trustee to expend or risk its own funds or
otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or indemnity reasonably satisfactory
to it against such risk or liability is not assured to it. 
 (g) 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 6.1 and to the provisions of the TIA. 

(h) The Trustee shall, and hereby agrees that it will, perform all of the obligations and duties required of it under the Sale and Servicing
Agreement. 
 (i) Without limiting the generality of this Section 6.1, the Trustee shall have no duty (i) to see to any recording,
filing or depositing of this Indenture or any agreement referred to herein or any financing statement evidencing a security interest in the Financed Vehicles, or to see to the maintenance of any such recording or filing or depositing or to any
recording, refiling or redepositing of any thereof, (ii) to see to any insurance of the Financed Vehicles or Obligors or to effect or maintain any such insurance, (iii) to see to the payment or discharge of any tax, assessment or other
governmental charge or any Lien or encumbrance of any kind owing with respect to, assessed or levied against any part of the Trust, (iv) to confirm or verify the contents of any reports or certificates delivered to the Trustee pursuant to this
Indenture or the Sale and Servicing Agreement believed by the Trustee to be genuine and to have been signed or presented by the proper party or parties, or (v) to inspect the Financed Vehicles at any time or ascertain or inquire as to the
performance of observance of any of the Issuer’s, the Seller’s or the Servicer’s representations, warranties or covenants or the Servicer’s duties and obligations as Servicer and as custodian of the Receivable Files under the
Sale and Servicing Agreement. 
 (j) In no event shall The Bank of New York Mellon, in any of its capacities hereunder, be deemed to have
assumed any duties of the Owner Trustee under the Delaware Statutory Trust Statute, common law, or the Trust Agreement or of the Servicer under the Sale and Servicing Agreement (unless it is acting as successor Servicer thereunder or is recording,
registering, filing, re-recording, re-filing, or re-registering any financing statement, continuation statement or other instrument required by the Trust Collateral Agent pursuant to Section 3.5 hereof or is taking any action to perfect or
re-perfect the security interests in the financed vehicles pursuant to Section 4.5(b) of the Sale and Servicing Agreement). 
 SECTION
6.2 Rights of Trustee. 
 (a) The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed
or presented by the proper person. The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the Trustee
acts or refrains from acting, it may require an Officer’s Certificate or an Opinion of Counsel. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officer’s Certificate or Opinion of
Counsel. 

  
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 (c) 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 or a custodian or nominee, and the Trustee shall not be responsible for any misconduct or negligence on the part of, or for the supervision of, AmeriCredit Financial Services, Inc., or any other
such agent, attorney, custodian or nominee appointed with due care by it hereunder. 
 (d) The Trustee shall not be liable for any action it
takes or omits to take in good faith which it believes to be authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute negligence. 

(e) The Trustee may consult with counsel, and the advice or opinion of counsel with respect to legal matters relating to this Indenture and
the Notes shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 

(f) The Trustee shall be under no obligation to institute, conduct or defend any litigation under this Indenture or in relation to this
Indenture, at the request, order or direction of any of the Noteholders, pursuant to the provisions of this Indenture, unless such Noteholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and
liabilities that may be incurred therein or thereby (including, without limitation, the fees and expenses of its counsel and agents); provided, however, that the Trustee shall, upon the occurrence of an Event of Default (that has not been
cured), exercise the rights and powers vested in it by this Indenture with reasonable care and skill. 
 (g) The Trustee shall not be bound
to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond or other paper or document, unless requested in writing to do so by
the Noteholders evidencing not less than 25% of the Outstanding Amount thereof; provided, however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of
such investigation is, in the opinion of the Trustee, not reasonably assured to the Trustee by the security afforded to it by the terms of this Indenture or the Sale and Servicing Agreement, the Trustee may require reasonable indemnity against such
cost, expense or liability as a condition to so proceeding; the reasonable expense of every such examination shall be paid by the Person making such request, or, if paid by the Trustee, shall be reimbursed by the Person making such request upon
demand. 
 (h) The Trustee shall not be liable for any losses on investments except for losses resulting from the failure of the Trustee to
make an investment in accordance with instructions given in accordance hereunder. 
 (i) If the Trustee acts as the Note Paying Agent or
Note Registrar, the rights, privileges, immunities, benefits and protections afforded to the Trustee shall be afforded to the Note Paying Agent and Note Registrar as if they were expressly set forth herein for the benefit of the Trustee in such
capacity, mutatis mutandis. 

  
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 (j) The Trustee shall not be required to take notice or be deemed to have notice or knowledge of
any default or Event of Default unless a Responsible Officer of the Trustee shall have received written notice or obtained actual knowledge thereof. In the absence of receipt of such notice or actual knowledge, the Trustee may conclusively assume
that there is no default or Event of Default. 
 (k) The Trustee shall not be responsible for delays or failures in performance resulting
directly or indirectly from forces beyond its control (including, without limitation, acts of God, strikes, work stoppages, accidents, severe weather, floods, nuclear or natural catastrophes, lockouts, riots, civil or military disturbances, acts of
war or terrorism, any provision of any present or future law or regulation or any act of any governmental authority, and any interruption, loss or malfunction of utilities, communications, computer services (software or hardware) or Federal Reserve
Bank wire service). 
 (l) Anything in this Indenture to the contrary notwithstanding, in no event shall the Trustee be liable for special,
indirect, incidental, punitive or consequential loss or damage of any kind whatsoever (including but not limited to lost profits), whether or not any such damages were foreseeable or contemplated, even if the Trustee has been advised of the
likelihood of such loss or damage and regardless of the form of action. 
 (m) No provision of this Indenture or any other Basic Document
shall be deemed to impose any duty or obligation on the Trustee to take or omit to take any action, or suffer any action to be taken or omitted, in the performance of its duties or obligations under the Basic Documents, or to exercise any right or
power thereunder, to the extent that taking or omitting to take such action or suffering such action to be taken or omitted would violate applicable law binding upon it (which determination may be based on the advice or opinion of its counsel). 

(n) The rights, privileges, protections, immunities and benefits provided to the Trustee hereunder (including but not limited to its right to
be indemnified) are extended to, and shall be enforceable by, both the Trustee and the Trust Collateral Agent in each of their capacities hereunder and to each of their officers, directors, agents, representatives and other Persons duly employed by
the Trustee or the Trust Collateral Agent as if they were each expressly set forth herein for the benefit of the Trustee and the Trust Collateral Agent in each such capacity, their officers, their directors, their agents, their representatives or
their employees, mutatis mutandis. 
 (o) The Trustee may conclusively rely and shall be fully protected in acting or refraining from acting
upon any resolution, Officer’s Certificate, opinion of counsel, certificate of auditors or any other certificate, statement, instrument, opinion, report, notice, request, consent, direction, order, appraisal, bond or other paper or document
believed by it to be genuine and to have been signed or presented by the proper party or parties, and the Trustee need not investigate any statement, representation or warranty or any fact or matter stated in any such document and may conclusively
rely as to the truth of the statements and the correctness of the opinions expressed therein. 

  
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 (p) The right of the Trustee to perform any discretionary act enumerated in this Indenture shall
not be construed as a duty, and the Trustee shall not be answerable for other than its negligence or willful misconduct in the performance or omission of such act. 

(q) The Trustee shall not be required to give any bond or surety. 

(r) In making or disposing of any investment permitted by this Indenture, the Trustee is authorized to deal with itself (in its individual
capacity) or with any one or more of its Affiliates, in each case on an arm’s-length basis and on standard market terms, whether it or such Affiliate is acting as a subagent of the Trustee or for any third person or dealing as principal for its
own account. 
 (s) Delivery of reports, information and documents to the Trustee shall not constitute constructive notice of any
information contained therein or determinable from information contained therein (other than any written notices of an Event of Default delivered to a Responsible Officer of the Trustee pursuant to Section 6.2(j)), including the Issuer’s
or any other entity’s compliance with any covenants under this Indenture, the Notes or any other related documents. The Trustee shall not be obligated to monitor or confirm, on a continuing basis or otherwise, the Issuer’s or any other
entity’s compliance with the covenants described herein or with respect to any reports or other documents filed under this Indenture, the Notes or any other related document. 

(t) The Trustee shall have the right to require that any directions, instructions or notices provided to it be signed by an Authorized Person
(as hereinafter defined), contain such evidence as may be reasonably requested by the Trustee to establish the identity and/or signatures thereon. The identity of such Authorized Persons, as well as their specimen signatures and title, shall be
delivered to the Trustee in the list of authorized signers and shall remain in effect until the applicable party, or an entity acting on its behalf, notifies the Trustee of any change thereto (the person(s) so designated from time to time, the
“Authorized Persons”). 
 (u) To help the U.S. government fight the funding of terrorism and money laundering activities,
Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When an account is opened, the Trustee will ask for information that will allow the Trustee to identify
relevant parties. The parties hereto hereby acknowledge such information disclosure requirements and agree to comply with all such information disclosure requests from time to time from the Trustee. 

SECTION 6.3 Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee. Any Trust Collateral Agent, Note Paying Agent, Note Registrar, co-registrar or co-Note Paying Agent may do the same with like rights.
However, the Trustee must comply with Sections 6.11 and 6.12. 

  
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 SECTION 6.4 Trustee’s Disclaimer. The Trustee shall not be responsible for and makes
no representation as to the validity or adequacy of this Indenture, the Trust Estate or the Notes, it shall not be accountable for the Issuer’s use of the proceeds from the Notes, and it shall not be responsible for any statement of the Issuer
in this Indenture or in any document issued in connection with the sale of the Notes or in the Notes other than the Trustee’s certificate of authentication. 

SECTION 6.5 Notice of Defaults. If an Event of Default occurs and is continuing and if it is either known by, or written notice of the
existence thereof has been delivered to, a Responsible Officer of the Trustee, the Trustee shall mail to each Noteholder notice of the Default within 90 days after such knowledge or notice occurs. Except in the case of a Default in payment of
principal of or interest on any Note (including payments pursuant to the mandatory redemption provisions of such Note), the Trustee may withhold the notice to the Noteholder if and so long as it in good faith determines that withholding the notice
is in the interests of Noteholders. 
 SECTION 6.6 Reports by Trustee to Holders. At the end of each calendar year, the Trustee shall
deliver to each person who at any time during the calendar year was a Noteholder that requests it in writing, a statement as to the aggregate amounts of interest and principal paid to the Noteholder to the extent required by the Code and any other
information as may be reasonably required to enable such Holder to prepare its federal and state income tax returns. 
 SECTION 6.7
Compensation and Indemnity. 
 (a) Pursuant to Section 5.7(a) of the Sale and Servicing Agreement, the Issuer shall, or shall
cause the Servicer to, pay to the Trustee and the Trust Collateral Agent from time to time compensation for its services. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer
shall cause the Servicer to reimburse the Trustee and the Trust Collateral Agent (subject to any applicable caps) for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for
its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s and the Trust Collateral Agent’s agents, counsel, accountants and experts. The Issuer shall cause the Servicer
to indemnify the Trustee, the Trust Collateral Agent and their respective officers, directors, employees and agents against any and all loss, liability or expense (including attorneys’ fees and expenses) incurred by each of them in connection
with the acceptance or the administration of this Trust and the performance of its duties hereunder. The Trustee or the Trust Collateral Agent shall notify the Issuer and the Servicer promptly of any claim for which it may seek indemnity. Failure by
the Trustee or the Trust Collateral Agent to so notify the Issuer and the Servicer shall not relieve the Issuer of its obligations hereunder or the Servicer of its obligations under Article XI of the Sale and Servicing Agreement. The Issuer shall
cause the Servicer to defend the claim, and the Trustee or the Trust Collateral Agent may have separate counsel and the Issuer shall cause the Servicer to pay the fees and expenses of such counsel. Neither the Issuer nor the Servicer need to
reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee or the Trust Collateral Agent through the Trustee’s or the Trust Collateral Agent’s own willful misconduct, negligence or bad faith. 

  
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 (b) The Issuer’s payment obligations to the Trustee or the Trust Collateral Agent pursuant
to this Section shall survive the discharge of this Indenture or the earlier resignation or removal of the Trustee or the Trust Collateral Agent. When the Trustee or the Trust Collateral Agent incurs expenses after the occurrence of a Default
specified in Section 5.1(iv) or (v) with respect to the Issuer, the expenses are intended to constitute expenses of administration under Title 11 of the United States Code or any other applicable federal or State bankruptcy, insolvency or
similar law. Notwithstanding anything else set forth in this Indenture or the Basic Documents, the Trustee agrees that the obligations of the Issuer (but not the Servicer) to the Trustee hereunder and under the Basic Documents shall be recourse to
the Trust Estate only and specifically shall not be recourse to the assets of the Certificateholder or any Noteholder. In addition, the Trustee agrees that its recourse to the Issuer, the Trust Estate and the Seller shall be limited to the right to
receive the distributions referred to in Section 5.7(a) of the Sale and Servicing Agreement. 
 SECTION 6.8 Replacement of
Trustee. The Trustee may resign at any time by so notifying the Issuer. The Issuer may and shall, remove the Trustee, if: 

(i) the Trustee fails to comply with Section 6.11; 

(ii) a court having jurisdiction in the premises in respect of the Trustee in an involuntary case or proceeding under federal
or State banking or bankruptcy laws, as now or hereafter constituted, or any other applicable federal or State bankruptcy, insolvency or other similar law, shall have entered a decree or order granting relief or appointing a receiver, liquidator,
assignee, custodian, trustee, conservator, sequestrator (or similar official) for the Trustee or for any substantial part of the Trustee’s property, or ordering the winding-up or liquidation of the Trustee’s affairs; 

(iii) an involuntary case under the federal bankruptcy laws, as now or hereafter in effect, or another present or future
federal or State bankruptcy, insolvency or similar law is commenced with respect to the Trustee and such case is not dismissed within 60 days; 

(iv) the Trustee commences a voluntary case under any federal or state banking or bankruptcy laws, as now or hereafter
constituted, or any other applicable federal or State bankruptcy, insolvency or other similar law, or consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee, conservator, sequestrator (or other
similar official) for the Trustee or for any substantial part of the Trustee’s property, or makes any assignment for the benefit of creditors or fails generally to pay its debts as such debts become due or takes any action in furtherance of any
of the foregoing; or 
 (v) the Trustee otherwise becomes incapable of acting. 

  
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 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any
reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a successor Trustee. 

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon the resignation
or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the retiring Trustee under this Indenture subject to satisfaction of the Rating Agency Condition. The successor
Trustee shall mail a notice of its succession to the Noteholders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee. 

If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Issuer
or the Majority Noteholders may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
 If the Trustee
fails to comply with Section 6.11, any Noteholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

Any resignation or removal of the Trustee and appointment of a successor Trustee pursuant to any of the provisions of this Section shall not
become effective until acceptance of appointment by the successor Trustee pursuant to Section 6.8, the appointment of a successor Trust Collateral Agent pursuant to Section 6.17 and payment of all fees, expenses and indemnities owed to the
outgoing Trustee and Trust Collateral Agent. 
 Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer’s
and the Servicer’s obligations under Section 6.7 shall continue for the benefit of the retiring Trustee. 
 SECTION 6.9
Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or
transferee corporation or banking association, without any further act shall be the successor Trustee. The Trustee shall provide prior written notice of any such transaction to the Issuer (who shall deliver such notice to the Rating Agencies). 

In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by
this Indenture any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Notes so authenticated; and in case at that
time any of the Notes shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates
shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee shall have. 

  
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 SECTION 6.10 Appointment of Co-Trustee or Separate Trustee. 

(a) Notwithstanding any other provisions of this Indenture, at any time, for the purpose of meeting any legal requirement of any jurisdiction
in which any part of the Trust Estate may at the time be located, the Trustee shall have the power and may execute and deliver all instruments to appoint one or more Persons to act as a co-trustee or co-trustees, or separate trustee or separate
trustees, of all or any part of the Trust Estate, and to vest in such Person or Persons, in such capacity and for the benefit of the Noteholders, such title to the Trust Estate, or any part hereof, and, subject to the other provisions of this
Section, such powers, duties, obligations, rights and trusts as the Trustee may consider necessary or desirable. No co-trustee or separate trustee hereunder shall be required to meet the terms of eligibility as a successor trustee under
Section 6.11 and no notice to Noteholders of the appointment of any co-trustee or separate trustee shall be required under Section 6.8 hereof. 

(b) Every separate trustee and co-trustee shall, to the extent permitted by law, be appointed and act subject to the following provisions and
conditions: 
 (i) all rights, powers, duties and obligations conferred or imposed upon the Trustee shall be conferred or
imposed upon and exercised or performed by the Trustee and such separate trustee or co-trustee jointly (it being understood that such separate trustee or co-trustee is not authorized to act separately without the Trustee joining in such act), except
to the extent that under any law of any jurisdiction in which any particular act or acts are to be performed the Trustee shall be incompetent or unqualified to perform such act or acts, in which event such rights, powers, duties and obligations
(including the holding of title to the Trust Estate or any portion thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee or co-trustee, but solely at the direction of the Trustee; 

(ii) no trustee hereunder shall be personally liable by reason of any act or omission of any other trustee hereunder, including
acts or omissions of predecessor or successor trustees; and 
 (iii) the Trustee may at any time accept the resignation of or
remove any separate trustee or co-trustee. 
 (c) Any notice, request or other writing given to the Trustee shall be deemed to have been
given to each of the then separate trustees and co-trustees, as effectively as if given to each of them. Every instrument appointing any separate trustee or co-trustee shall refer to this Indenture and the conditions of this Article VI. Each
separate trustee and co-trustee, upon its acceptance of the trusts conferred, shall be vested with the estates or property specified in its instrument of appointment, either jointly with the Trustee or separately, as may be provided therein, subject
to all the provisions of this Indenture, specifically including every provision of this Indenture relating to the conduct of, affecting the liability of, or affording protection to, the Trustee. Every such instrument shall be filed with the Trustee.

  
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 (d) Any separate trustee or co-trustee may at any time constitute the Trustee, its agent or
attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any lawful act under or in respect of this Indenture on its behalf and in its name. If any separate trustee or co-trustee shall die, dissolve, become
insolvent, become incapable of acting, resign or be removed, all of its estates, properties, rights, remedies and trusts shall invest in and be exercised by the Trustee, to the extent permitted by law, without the appointment of a new or successor
trustee. 
 (e) Any and all amounts relating to the fees and expenses of the co-trustee or separate trustee will be borne by the Trust
Estate. 
 SECTION 6.11 Eligibility: Disqualification. The Trustee shall at all times satisfy the requirements of TIA
§ 310(a). The Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition and it shall have a long-term debt rating of BBB, or an equivalent rating, or
better by the Rating Agencies. The Trustee shall comply with TIA § 310(b), including the optional provision permitted by the second sentence of TIA § 310(b)(9); provided, however, that there shall be excluded from the operation
of TIA § 310(b)(1) any indenture or indentures under which other securities of the Issuer are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are met. 

Within 90 days after ascertaining the occurrence of an Event of Default which shall not have been cured or waived, unless authorized by the
Commission, the Trustee shall resign with respect to the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and/or the Class E Notes in accordance with Section 6.8 of this Indenture, and the Issuer
shall appoint a successor Trustee for each of such Classes, as applicable, so that there will be separate Trustees for the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes. In the
event the Trustee fails to comply with the terms of the preceding sentence, the Trustee shall comply with clauses (ii) and (iii) of TIA Section 310(b). 

In the case of the appointment hereunder of a successor Trustee with respect to any Class of Notes pursuant to this Section 6.11, the
Issuer, the retiring Trustee and the successor Trustee with respect to such Class of Notes shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which (i) shall contain such
provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, the successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Notes of the Class to which the appointment of such
successor Trustee relates, (ii) if the retiring Trustee is not retiring with respect to all Classes of Notes, 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 Notes of each Class as to which the retiring Trustee is not retiring shall continue to be vested in the Trustee and (iii) 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 a 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 removal of the retiring Trustee shall become effective to the extent provided herein. 

  
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 SECTION 6.12 Preferential Collection of Claims Against Issuer. The Trustee shall comply
with TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated. 

SECTION 6.13 Appointment and Powers. Subject to the terms and conditions hereof, each of the Issuer Secured Parties hereby appoints The
Bank of New York Mellon, as the Trust Collateral Agent with respect to the Collateral, and The Bank of New York Mellon hereby accepts such appointment and agrees to act as Trust Collateral Agent with respect to the Collateral for the Issuer Secured
Parties, to maintain custody and possession of such Collateral (except as otherwise provided hereunder) and to perform the other duties of the Trust Collateral Agent in accordance with the provisions of this Indenture and the other Basic Documents.
Each Issuer Secured Party hereby authorizes the Trust Collateral Agent to take such action on its behalf, and to exercise such rights, remedies, powers and privileges hereunder, as the Trustee may direct and as are specifically authorized to be
exercised by the Trust Collateral Agent by the terms hereof, together with such actions, rights, remedies, powers and privileges as are reasonably incidental thereto, including, but not limited to, the execution of any powers of attorney. The Trust
Collateral Agent shall act upon and in compliance with the written instructions of the Controlling Party delivered pursuant to this Indenture promptly following receipt of such written instructions; provided that neither the Trustee nor the Trust
Collateral Agent shall act upon its own accord or in accordance with any instructions (i) if such actions are not authorized by, or in violation of the provisions of, this Indenture, (ii) if such actions are in violation of any applicable
law, rule or regulation or (iii) with respect to actions for which the Trustee has been directed to act but for which the Trustee has not received reasonable indemnity. Receipt of such instructions shall not be a condition to the exercise by
the Trust Collateral Agent of its express duties hereunder, except where this Indenture provides that the Trust Collateral Agent is permitted to act only following and in accordance with such instructions. 

SECTION 6.14 Performance of Duties. 

(a) Neither the Trust Collateral Agent nor the Trustee shall have any duties or responsibilities except those expressly set forth in this
Indenture and the other Basic Documents to which the Trust Collateral Agent or the Trustee is a party or as directed by the Controlling Party in accordance with this Indenture. Neither the Trust Collateral Agent nor the Trustee shall be required to
take any discretionary actions hereunder except at the written direction and with reasonable security and indemnity satisfactory to the Trust Collateral Agent or the Trustee, as applicable. The Trust Collateral Agent and the Trustee shall, and
hereby agree that each will, subject to this Article, perform all of their respective duties and obligations required of it under the Sale and Servicing Agreement. 

(b) The Trust Collateral Agent and the Trustee hereby covenant that it will provide prompt written notice to the Seller and the Servicer upon
actual knowledge by a Responsible Officer of any instances of non-compliance by the Trust Collateral Agent or the Trustee, as applicable, with this Indenture or the other Basic Documents to which the Trust Collateral Agent or the Trustee, as
applicable, is a party. 

  
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 SECTION 6.15 Limitation on Liability. None of the Trustee, the Trust Collateral Agent or
any of their respective directors, officers or employees shall be liable for any action taken or omitted to be taken by it or them hereunder, or in connection herewith, except that the Trustee and the Trust Collateral Agent shall be liable for its
own negligence, bad faith or willful misconduct; nor shall the Trustee or the Trust Collateral Agent be responsible for the validity, effectiveness, value, sufficiency or enforceability against the Issuer of this Indenture or any of the Collateral
(or any part thereof). Notwithstanding any term or provision of this Indenture, neither the Trustee nor the Trust Collateral Agent shall incur any liability to the Issuer or the Issuer Secured Parties for any action taken or omitted by the Trustee
or the Trust Collateral Agent in connection with the Collateral, except for the negligence, bad faith or willful misconduct on the part of the Trustee or the Trust Collateral Agent, and, further, neither the Trustee nor the Trust Collateral Agent
shall incur any liability to the Issuer Secured Parties except for negligence, bad faith or willful misconduct in carrying out its duties to the Issuer Secured Parties. The Trustee and the Trust Collateral Agent shall be protected and shall incur no
liability to any such party in relying upon the accuracy, acting in reliance upon the contents, and assuming the genuineness of any notice, demand, certificate, signature, instrument or other document reasonably believed by the Trustee or the Trust
Collateral Agent to be genuine and to have been duly executed by the appropriate signatory, and (absent actual knowledge to the contrary by a Responsible Officer of the Trustee or the Trust Collateral Agent) neither the Trustee nor the Trust
Collateral Agent shall be required to make any independent investigation with respect thereto. The Trustee and the Trust Collateral Agent shall at all times be free independently to establish to its reasonable satisfaction, but shall have no duty to
independently verify, the existence or nonexistence of facts that are a condition to the exercise or enforcement of any right or remedy hereunder or under any of the Basic Documents. The Trustee and the Trust Collateral Agent may consult with
counsel, and shall not be liable for any action taken or omitted to be taken by it hereunder in good faith and in accordance with the advice or opinion of such counsel. Neither the Trustee nor the Trust Collateral Agent shall be under any obligation
to exercise any of the remedial rights or powers vested in it by this Indenture or to follow any direction from the Trustee (at the direction of the Noteholders) or risk its own funds or otherwise incur financial liability in the performance of any
of its duties hereunder unless it shall have received reasonable security or indemnity satisfactory to the Trustee or the Trust Collateral Agent, as applicable, against the costs, expenses and liabilities which might be incurred by it. 

SECTION 6.16 Reliance Upon Documents. In the absence of negligence, bad faith or willful misconduct on its part, the Trust Collateral
Agent shall be entitled to conclusively rely on any communication, instrument, paper or other document reasonably believed by it to be genuine and correct and to have been signed or sent by the proper Person or Persons and shall have no liability in
acting, or omitting to act, where such action or omission to act is in reasonable reliance upon any statement or opinion contained in any such document or instrument. 

SECTION 6.17 Successor Trust Collateral Agent. 

(a) Merger. Any Person into which the Trust Collateral Agent may be converted or merged, or with which it may be consolidated, or to
which it may sell or transfer its trust business and assets as a whole or substantially as a whole, or any Person resulting from any such conversion, merger, consolidation, sale or transfer to which the Trust Collateral

  
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Agent is a party, shall (provided it is otherwise qualified to serve as the Trust Collateral Agent hereunder) be and become a successor Trust Collateral Agent hereunder and be vested with all of
the title to and interest in the Collateral and all of the trusts, powers, discretions, immunities, privileges and other matters as was its predecessor without the execution or filing of any instrument or any further act, deed or conveyance on the
part of any of the parties hereto, anything herein to the contrary notwithstanding, except to the extent, if any, that any such action is necessary to perfect, or continue the perfection of, the security interest of the Issuer Secured Parties in the
Collateral; provided that any such successor shall also be the successor Trustee under Section 6.9. 
 (b) Resignation. The
Trust Collateral Agent and any successor Trust Collateral Agent may resign at any time by so notifying the Issuer; provided that the Trust Collateral Agent shall not so resign unless it shall also resign as Trustee hereunder. 

(c) Removal. The Trust Collateral Agent shall automatically be removed at any time that the Trustee has resigned or has been removed in
accordance with Section 6.8; provided, however, if at any time the Trust Collateral Agent and the Trustee are separate entities, the Trust Collateral Agent may be removed by the Trustee at any time, with or without cause, by an
instrument or concurrent instruments in writing delivered to the Trust Collateral Agent, the other Issuer Secured Party and the Issuer. A temporary successor may be removed at any time to allow a successor Trust Collateral Agent to be appointed
pursuant to subsection (d) below. Any removal pursuant to the provisions of this subsection (c) shall take effect only upon the date which is the latest of (i) the effective date of the appointment of a successor Trust Collateral
Agent and the acceptance in writing by such successor Trust Collateral Agent of such appointment and of its obligation to perform its duties hereunder in accordance with the provisions hereof, and (ii) receipt by the Trustee of an Opinion of
Counsel to the effect described in Section 3.6. 
 (d) Acceptance by Successor. The Issuer shall have the sole right to appoint each
successor Trust Collateral Agent. Every temporary or permanent successor Trust Collateral Agent appointed hereunder shall execute, acknowledge and deliver to its predecessor and to the Trustee, each Issuer Secured Party and the Issuer an instrument
in writing accepting such appointment hereunder and the relevant predecessor shall execute, acknowledge and deliver such other documents and instruments as will effectuate the delivery of all Collateral to the successor Trust Collateral Agent,
whereupon such successor, without any further act, deed or conveyance, shall become fully vested with all the estates, properties, rights, powers, duties and obligations of its predecessor. Such predecessor shall, nevertheless, on the written
request of either Issuer Secured Party or the Issuer, execute and deliver an instrument transferring to such successor all the estates, properties, rights and powers of such predecessor hereunder. In the event that any instrument in writing from the
Issuer or an Issuer Secured Party is reasonably required by a successor Trust Collateral Agent to more fully and certainly vest in such successor the estates, properties, rights, powers, duties and obligations vested or intended to be vested
hereunder in the Trust Collateral Agent, any and all such written instruments shall, at the request of the temporary or permanent successor Trust Collateral Agent, be forthwith executed, acknowledged and delivered by the Trustee or the Issuer, as
the case may be. The designation of any successor Trust Collateral Agent and the instrument or instruments removing any Trust Collateral Agent and appointing a successor 

  
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hereunder, together with all other instruments provided for herein, shall be maintained with the records relating to the Collateral and, to the extent required by applicable law, filed or
recorded by the successor Trust Collateral Agent in each place where such filing or recording is necessary to effect the transfer of the Collateral to the successor Trust Collateral Agent or to protect or continue the perfection of the security
interests granted hereunder. 
 SECTION 6.18 Compensation. The Trust Collateral Agent shall not be entitled to any compensation for
the performance of its duties hereunder other than the compensation it is entitled to receive in its capacity as Trustee. 
 SECTION 6.19
Representations and Warranties of the Trust Collateral Agent and the Issuer. 
 (a) The Trust Collateral Agent represents and
warrants to the Issuer and to each Issuer Secured Party as follows: 
 (i) Due Organization. The Trust Collateral
Agent is a New York banking corporation and is duly authorized and licensed under applicable law to conduct its business as presently conducted. 

(ii) Corporate Power. The Trust Collateral Agent has all requisite right, power and authority to execute and deliver
this Indenture and to perform all of its duties as Trust Collateral Agent hereunder. 
 (iii) Due Authorization. The
execution and delivery by the Trust Collateral Agent of this Indenture and the other Basic Documents to which it is a party, and the performance by the Trust Collateral Agent of its duties hereunder and thereunder, have been duly authorized by all
necessary corporate proceedings and no further approvals or filings, including any governmental approvals, are required for the valid execution and delivery by the Trust Collateral Agent, or the performance by the Trust Collateral Agent, of this
Indenture and such other Basic Documents. 
 (iv) Valid and Binding Indenture. The Trust Collateral Agent has duly
executed and delivered this Indenture and each other Basic Document to which it is a party, and each of this Indenture and each such other Basic Document constitutes the legal, valid and binding obligation of the Trust Collateral Agent, enforceable
against the Trust Collateral Agent in accordance with its terms, except as (i) such enforceability may be limited by bankruptcy, insolvency, reorganization and similar laws relating to or affecting the enforcement of creditors’ rights
generally and (ii) the availability of equitable remedies may be limited by equitable principles of general applicability. 

(v) No Conflicts. The execution and delivery of each Basic Document to which it is a party by the Trust Collateral Agent
and the performance by the Trust Collateral Agent of its obligations thereunder, in its capacity as Trust Collateral Agent or otherwise, do not conflict with or result in any violation of (i) any law or regulation of the United States of
America governing the banking or trust powers of the Trust Collateral Agent or (ii) the articles of incorporation and by-laws of the Trust Collateral Agent. 

  
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 (vi) No Actions. To the best of the Trust Collateral Agent’s
knowledge, there are no actions, proceedings or investigations known to the Trust Collateral Agent, either pending or threatened in writing, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality
which would, if adversely determined, affect in any material respect the consummation, validity or enforceability against the Trust Collateral Agent, in its capacity as Trust Collateral Agent or otherwise, of any Basic Document. 

(b) The Issuer represents and warrants that the representations and warranties set forth on the attached Schedule of Representations with
respect to the Receivables as of the date hereof, and as of the Closing Date, are true and correct. Such representations and warranties speak as of the execution and delivery of this Indenture and as of the Closing Date, but shall survive the pledge
of the Receivables to the Trust Collateral Agent and shall not be waived. 
 SECTION 6.20 Waiver of Setoffs. The Trust Collateral
Agent hereby expressly waives any and all rights of setoff that the Trust Collateral Agent may otherwise at any time have under applicable law with respect to any Trust Account and agrees that amounts in the Trust Accounts shall at all times be held
and applied solely in accordance with the provisions hereof and the Sale and Servicing Agreement. 
 ARTICLE VII 

Noteholders’ Lists and Reports 

SECTION 7.1 Issuer To Furnish To Trustee Names and Addresses of Noteholders . The Issuer will furnish or cause to be furnished to the
Trustee and the Trust Collateral Agent (a) not more than five days after the earlier of (i) each Record Date and (ii) three months after the last Record Date, a list, in such form as the Trustee may reasonably require, of the names
and addresses of the Holders as of such Record Date, (b) at such other times as the Trustee or the Trust Collateral Agent may request in writing, within 30 days after receipt by the Issuer of any such request, a list of similar form and content
as of a date not more than 10 days prior to the time such list is furnished; provided, however, that so long as the Trustee is the Note Registrar, no such list shall be required to be furnished. The Trustee and the Trust Collateral Agent
shall each be fully protected and have no liability for relying on any such list furnished by the Issuer. 
 SECTION 7.2 Preservation of
Information; Communications to Noteholders. 
 (a) The Trustee shall preserve, in as current a form as is reasonably practicable, the
names and addresses of the Holders contained in the most recent list furnished to the Trustee as provided in Section 7.1 and the names and addresses of Holders received by the Trustee in its capacity as Note Registrar. The Trustee may destroy
any list furnished to it as provided in such Section 7.1 upon receipt of a new list so furnished. 

  
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 (b) Noteholders may communicate pursuant to TIA § 312(b) with other Noteholders with
respect to their rights under this Indenture or under the Notes. 
 (c) The Issuer, the Trustee and the Note Registrar shall have the
protection of TIA § 312(c). 
 SECTION 7.3 Reports by Issuer. 

(a) The Issuer shall: 

(i) file with the Trustee, within 15 days after the Issuer is required to file the same with the Commission, copies of the
annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) which the Issuer may be required to file with the
Commission pursuant to Section 13 or 15(d) of the Exchange Act; 
 (ii) file with the Trustee and the Commission in
accordance with rules and regulations prescribed from time to time by the Commission such additional information, documents and reports with respect to compliance by the Issuer with the conditions and covenants of this Indenture as may be required
from time to time by such rules and regulations; and 
 (iii) supply to the Trustee (and the Trustee shall transmit by mail
to all Noteholders described in TIA § 313(c)) such summaries of any information, documents and reports required to be filed by the Issuer pursuant to clauses (i) and (ii) of this Section 7.3(a) as may be required by rules
and regulations prescribed from time to time by the Commission. 
 (b) Unless the Issuer otherwise determines, the fiscal year of the Issuer
shall end on December 31 of each year. 
 SECTION 7.4 Reports by Trustee. If required by TIA § 313(a), within 60 days
after each May 31, beginning with May 31, 2015, the Trustee shall mail to each Noteholder if required by TIA § 313(c) a brief report dated as of such date that complies with TIA § 313(a). The Trustee also shall comply
with TIA § 313(b). 
 A copy of each report at the time of its mailing to Noteholders shall be filed by the Trustee with the
Commission and each stock exchange, if any, on which the Notes are listed. The Issuer shall notify the Trustee if and when the Notes are listed on any stock exchange. 

  
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 ARTICLE VIII 

Accounts, Disbursements and Releases 

SECTION 8.1 Collection of Money. Except as otherwise expressly provided herein, the Trustee may demand payment or delivery of, and
shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Trust Collateral Agent pursuant to this Indenture and the Sale and
Servicing Agreement. The Trustee shall apply all such money received by it, or cause the Trust Collateral Agent to apply all money received by it as provided in this Indenture and the Sale and Servicing Agreement. Except as otherwise expressly
provided in this Indenture or in the Sale and Servicing Agreement, if any default occurs in the making of any payment or performance under any agreement or instrument that is part of the Trust Estate, the Trustee may take such action as may be
appropriate to enforce such payment or performance, including the institution and prosecution of appropriate proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and any
right to proceed thereafter as provided in Article V. 
 SECTION 8.2 Release of Trust Estate. 

(a) Subject to the payment of its fees and expenses and other amounts pursuant to Section 6.7, the Trust Collateral Agent may, and when
required by the provisions of this Indenture shall, execute instruments prepared by and at the expense of the Seller to release property from the lien of this Indenture, in a manner and under circumstances that are not inconsistent with the
provisions of this Indenture. No party relying upon an instrument executed by the Trust Collateral Agent as provided in this Article VIII shall be bound to ascertain the Trust Collateral Agent’s authority, inquire into the satisfaction of any
conditions precedent or see to the application of any moneys. 
 (b) The Trust Collateral Agent shall, at such time as there are no Notes
outstanding and all sums due the Trustee and the Trust Collateral Agent pursuant to the Basic Documents have been paid, execute such documents as are reasonably provided to it by the Seller (which documents shall be prepared at the Seller’s
expense) in order to release any remaining portion of the Trust Estate that secured the Notes from the lien of this Indenture and release to the Issuer or any other Person entitled thereto any funds then on deposit in the Trust Accounts. 

SECTION 8.3 Opinion of Counsel. The Trust Collateral Agent shall receive at least seven days’ notice when requested by the Issuer
to take any action pursuant to Section 8.2(a), accompanied by copies of any instruments involved, and the Trustee shall also require as a condition to such action, an Opinion of Counsel in form and substance satisfactory to the Trustee, stating
the legal effect of any such action, outlining the steps required to complete the same, and concluding that all conditions precedent to the taking of such action have been complied with. Counsel rendering any such opinion may rely, without
independent investigation, on the accuracy and validity of any certificate or other instrument delivered to the Trustee in connection with any such action. 

  
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 ARTICLE IX 

Supplemental Indentures 

SECTION 9.1 Supplemental Indentures Without Consent of Noteholders. 

(a) Without the consent of the Holders of any Notes and with prior notice to the Rating Agencies by the Issuer, as evidenced to the Trustee,
the Issuer and the Trustee, when authorized by an Issuer Order, at any time and from time to time, may enter into one or more indentures supplemental hereto (which shall conform to the provisions of the Trust Indenture Act as in force at the date of
the execution thereof), in form satisfactory to the Trustee, for any of the following purposes: 
 (i) to correct or amplify
the description of any property at any time subject to the lien of this Indenture, or better to assure, convey and confirm unto the Trust Collateral Agent any property subject or required to be subjected to the lien of this Indenture, or to subject
to the lien of this Indenture additional property; 
 (ii) to evidence the succession, in compliance with the applicable
provisions hereof, of another person to the Issuer, and the assumption by any such successor of the covenants of the Issuer herein and in the Notes contained; 

(iii) to add to the covenants of the Issuer, for the benefit of the Holders of the Notes, or to surrender any right or power
herein conferred upon the Issuer; 
 (iv) to convey, transfer, assign, mortgage or pledge any property to or with the Trust
Collateral Agent; 
 (v) to cure any ambiguity, to correct or supplement any provision herein or in any supplemental
indenture which may be inconsistent with any other provision herein or in any supplemental indenture or to make any other provisions with respect to matters or questions arising under this Indenture or in any supplemental indenture; provided
that such action shall not adversely affect the interests of the Holders of the Notes; 
 (vi) to evidence and provide for
the acceptance of the appointment hereunder by a successor trustee with respect to the Notes and to add to or change any of the provisions of this Indenture as shall be necessary to facilitate the administration of the trusts hereunder by more than
one trustee, pursuant to the requirements of Article VI; or 
 (vii) to modify, eliminate or add to the provisions of this
Indenture to such extent as shall be necessary to effect the qualification of this Indenture under the TIA or under any similar federal statute hereafter enacted and to add to this Indenture such other provisions as may be expressly required by the
TIA. 

  
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 The Trustee is hereby authorized to join in the execution of any such supplemental indenture and
to make any further appropriate agreements and stipulations that may be therein contained. 
 (b) The Issuer and the Trustee, when
authorized by an Issuer Order, may, also without the consent of any of the Holders of the Notes but with prior notice to the Rating Agencies by the Issuer, as evidenced to the Trustee, enter into an indenture or indentures supplemental hereto for
the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture or of modifying in any manner the rights of the Holders of the Notes under this Indenture; provided, however, that such
action shall not, as evidenced by an Opinion of Counsel, adversely affect in any material respect the interests of any Noteholder. 

SECTION 9.2 Supplemental Indentures with Consent of Noteholders. The Issuer and the Trustee, when authorized by an Issuer Order, also
may, with prior notice to the Rating Agencies by the Issuer, and with the consent of the Majority Noteholders, by Act of such Holders delivered to the Issuer and the Trustee, enter into an indenture or indentures supplemental hereto for the purpose
of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture or of modifying in any manner the rights of the Holders of the Notes under this Indenture; provided, however, that no such
supplemental indenture shall, without the consent of the Holder of each Outstanding Note affected thereby: 
 (i) change the
date of payment of any installment of principal of or interest on any Note, or reduce the principal amount thereof, the interest rate thereon or the Redemption Price with respect thereto, change the provision of this Indenture relating to the
application of collections on, or the proceeds of the sale of, the Trust Estate to payment of principal of or interest on the Notes, or change any place of payment where, or the coin or currency in which, any Note or the interest thereon is payable;

 (ii) impair the right to institute suit for the enforcement of the provisions of this Indenture requiring the application
of funds available therefor, as provided in Article V, to the payment of any such amount due on the Notes on or after the respective due dates thereof (or, in the case of redemption, on or after the Redemption Date); 

(iii) reduce the percentage of the Outstanding Amount of the Notes, the consent of the Holders of which is required for any
such supplemental indenture, or the consent of the Holders of which 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; 

(iv) modify or alter the provisions of the proviso to the definition of the term “Outstanding” or the term
“Majority Noteholders”; 

  
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 (v) reduce the percentage of the Outstanding Amount of the Notes required to
direct the Trustee to direct the Issuer to sell or liquidate the Trust Estate pursuant to Section 5.4; 
 (vi) modify
any provision of this Section except to increase any percentage specified herein or to provide that certain additional provisions of this Indenture or the Basic Documents cannot be modified or waived without the consent of the Holder of each
Outstanding Note affected thereby; 
 (vii) modify any of the provisions of this Indenture in such manner as to affect the
calculation of the amount of any payment of interest or principal due on any Note on any Distribution Date (including, in all cases, the calculation of any of the individual components of such calculation) or to affect the rights of the Noteholders
to the benefit of any provisions for the mandatory redemption of the Notes contained herein; or 
 (viii) permit the creation
of any lien ranking prior to or on a parity with the lien of this Indenture with respect to any part of the Trust Estate or, except as otherwise permitted or contemplated herein or in any of the Basic Documents, terminate the lien of this Indenture
on any property at any time subject hereto or deprive the Holder of any Note of the security provided by the lien of this Indenture. 
 The
Trustee may determine whether or not any Notes would be affected by any supplemental indenture and any such determination shall be conclusive upon the Holders of all Notes, whether theretofore or thereafter authenticated and delivered hereunder. The
Trustee shall not be liable for any such determination made in good faith. 
 It shall not be necessary for any Act of Noteholders 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. 

Promptly after the execution by the Issuer and the Trustee of any supplemental indenture pursuant to this Section, the Trustee shall mail to
the Holders of the Notes to which such amendment or supplemental indenture relates a notice setting forth in general terms the substance of such supplemental indenture. Any failure of the Trustee to mail such notice, or any defect therein, shall
not, however, in any way impair or affect the validity of any such supplemental indenture. 
 SECTION 9.3 Execution of Supplemental
Indentures. In executing, or permitting the additional trusts created by, any supplemental indenture permitted by this Article IX or the amendments or modifications thereby of the trusts created by this Indenture, the Trustee and the Trust
Collateral Agent shall be entitled to receive and 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. The Trustee may, but shall not
be obligated to, enter into any such supplemental indenture that affects the Trustee’s own rights, duties, liabilities or immunities under this Indenture or otherwise. 

  
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 SECTION 9.4 Effect of Supplemental Indenture. Upon the execution of any supplemental
indenture pursuant to the provisions hereof, this Indenture shall be and be deemed to be modified and amended in accordance therewith with respect to the Notes affected thereby, and the respective rights, limitations of rights, obligations, duties,
liabilities and immunities under this Indenture of the Trustee, the Issuer and the Holders of the Notes shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms
and conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 

SECTION 9.5 Conformity With Trust Indenture Act. Every amendment of this Indenture and every supplemental indenture executed pursuant
to this Article IX shall conform to the requirements of the Trust Indenture Act as then in effect so long as this Indenture shall then be qualified under the Trust Indenture Act. 

SECTION 9.6 Reference in Notes to Supplemental Indentures. Notes authenticated and delivered after the execution of any supplemental
indenture pursuant to this Article IX may, and if required by the Trustee shall, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Issuer or the Trustee shall so determine, new Notes
so modified as to conform, in the opinion of the Trustee and the Issuer, to any such supplemental indenture may be prepared and executed by the Issuer and authenticated and delivered by the Trustee in exchange for Outstanding Notes. 

ARTICLE X 
 Redemption of Notes

 SECTION 10.1 Redemption. 

(a) The Notes shall be redeemed in whole, but not in part, on any Distribution Date on which the Servicer or Seller exercises its option to
purchase the Trust Estate pursuant to Section 10.1(a) of the Sale and Servicing Agreement, for a purchase price equal to the Redemption Price; provided, however, that no such redemption may be effected unless the Issuer has available
funds sufficient to pay the Redemption Price on such Distribution Date. The Servicer or the Issuer shall furnish the Rating Agencies notice of such redemption. If the Notes are to be redeemed pursuant to this Section 10.1(a), the Servicer or
the Issuer shall furnish notice of such election to the Trustee not later than 25 days prior to the Redemption Date and the Issuer shall deposit with the Trustee in the Collection Account the amount required to be so deposited pursuant to
Section 10.1(a) of the Sale and Servicing Agreement, whereupon all outstanding Notes shall be due and payable on the Redemption Date subject to the furnishing of a notice complying with Section 10.2 to each Holder of Notes. 

(b) In the event that the assets of the Trust are distributed pursuant to Section 8.1 of the Trust Agreement, all amounts on deposit in
the Note Distribution Account shall be paid to the Noteholders up to the Outstanding Amount of the Notes and all accrued and unpaid interest thereon. If amounts are to be paid to Noteholders pursuant to this Section 10.1(b), the Servicer or the
Issuer shall, to the extent practicable, furnish notice of such event to the Trustee not later than 45 days prior to the Redemption Date whereupon all such amounts shall be payable on the Redemption Date. 

  
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 SECTION 10.2 Form of Redemption. (a) Notice of redemption under Section 10.1(a)
shall be given by the Trustee by facsimile or by first-class mail, postage prepaid, transmitted or mailed prior to the applicable Redemption Date to each Holder of Notes, as of the close of business on the Record Date preceding the applicable
Redemption Date, at such Holder’s address appearing in the Note Register. 
 All notices of redemption shall state: 

(i) the Redemption Date; 

(ii) the Redemption Price; 

(iii) that the Record Date otherwise applicable to such Redemption Date is not applicable and that payments shall be made only
upon presentation and surrender of such Notes and the place where such Notes are to be surrendered for payment of the Redemption Price (which shall be the office or agency of the Issuer to be maintained as provided in Section 3.2); and 

(iv) that interest on the Notes shall cease to accrue on the Redemption Date. 

(b) Notice of redemption of the Notes shall be given by the Trustee in the name and at the expense of the Issuer. Failure to give notice of
redemption, or any defect therein, to any Holder of any Note shall not impair or affect the validity of the redemption of any other Note. 

(c) Prior notice of redemption under Section 10.1(b) is not required to be given to the Noteholders. 

SECTION 10.3 Notes Payable on Redemption Date. The Notes to be redeemed shall, following notice of redemption, as required by
Section 10.2 (in the case of redemption pursuant to Section 10.1(a)), on the Redemption Date become due and payable at the Redemption Price and (unless the Issuer shall default in the payment of the Redemption Price) no interest shall
accrue on the Redemption Price for any period after the date to which accrued interest is calculated for purposes of calculating the Redemption Price. 

ARTICLE XI 
 Miscellaneous

 SECTION 11.1 Compliance Certificates and Opinions, etc. 

(a) Upon any application or request by the Issuer to the Trustee or the Trust Collateral Agent to take any action under any provision of this
Indenture, the Issuer shall furnish to the Trustee or the Trust Collateral Agent, as the case may be, (1) an Officer’s Certificate signed by an Authorized Officer of the Servicer stating that all conditions precedent, if any, provided for
in this Indenture relating to the proposed action have been complied with, (2) an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with and (3) (if required by the
TIA) an 

  
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Independent Certificate from a firm of certified public accountants meeting the applicable requirements of this Section, 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, 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: 

(i) a statement that each signatory of such certificate or opinion has read or has caused to be read such covenant or condition
and the definitions herein relating thereto; 
 (ii) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (iii) a statement
that, in the opinion of each such signatory, such signatory has made such examination or investigation as is necessary to enable such signatory to express an informed opinion as to whether or not such covenant or condition has been complied with;
and 
 (iv) a statement as to whether, in the opinion of each such signatory such condition or covenant has been complied
with. 
 (b) (i) Prior to the deposit of any Collateral or other property or securities with the Trust Collateral Agent
that is to be made the basis for the release of any property or securities subject to the lien of this Indenture, the Issuer shall, in addition to any obligation imposed in Section 11.1(a) or elsewhere in this Indenture, furnish to the Trust
Collateral Agent an Officer’s Certificate signed by an Authorized Officer of the Servicer certifying or stating the opinion of each person signing such certificate as to the fair value (within 90 days of such deposit) to the Issuer of the
Collateral or other property or securities to be so deposited. 
 (ii) Whenever the Issuer is required to furnish to the
Trust Collateral Agent an Officer’s Certificate certifying or stating the opinion of any signer thereof as to the matters described in clause (i) above, the Issuer shall also deliver to the Trust Collateral Agent an Independent Certificate
as to the same matters, if the fair value to the Issuer of the securities to be so deposited and of all other such securities made the basis of any such withdrawal or release since the commencement of the then-current fiscal year of the Issuer, as
set forth in the certificates delivered pursuant to clause (i) above and this clause (ii), is 10% or more of the Outstanding Amount of the Notes, but such a certificate need not be furnished with respect to any securities so deposited, if the
fair value thereof to the Issuer as set forth in the related Officer’s Certificate is less than $25,000 or less than 1% percent of the Outstanding Amount of the Notes. 

(iii) Other than with respect to the release of any Purchased Receivables, Sold Receivables or Liquidated Receivables, whenever
any property or securities are to be released from the lien of this Indenture, the Issuer shall also furnish to the Trust 

  
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Collateral Agent an Officer’s Certificate signed by an Authorized Officer of the Servicer certifying or stating the opinion of each person signing such certificate as to the fair value
(within 90 days of such release) of the property or securities proposed to be released and stating that in the opinion of such person the proposed release will not impair the security under this Indenture in contravention of the provisions hereof.

 (iv) Whenever the Issuer is required to furnish to the Trustee an Officer’s Certificate certifying or stating the
opinion of any signer thereof as to the matters described in clause (iii) above, the Issuer shall also furnish to the Trust Collateral Agent an Independent Certificate as to the same matters if the fair value of the property or securities and
of all other property other than Purchased Receivables, Sold Receivables and Defaulted Receivables, or securities released from the lien of this Indenture since the commencement of the then current calendar year, as set forth in the certificates
required by clause (iii) above and this clause (iv), equals 10% or more of the Outstanding Amount of the Notes, but such certificate need not be furnished in the case of any release of property or securities if the fair value thereof as set
forth in the related Officer’s Certificate is less than $25,000 or less than 1 percent of the then Outstanding Amount of the Notes. 

(v) Notwithstanding Section 2.9 or any other provision of this Section, the Issuer may (A) collect, liquidate, sell
or otherwise dispose of Receivables as and to the extent permitted or required by the Basic Documents and (B) make cash payments out of the Trust Accounts as and to the extent permitted or required by the Basic Documents. 

SECTION 11.2 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 Authorized Officer of the Issuer 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 are erroneous. Any such certificate of an Authorized Officer 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 Servicer, the
Seller or the Issuer, stating that the information with respect to such factual matters is in the possession of the Servicer, the Seller or the Issuer, unless such counsel knows, or in the exercise of reasonable care should know, that the
certificate or opinion or representations with respect to such matters are erroneous. 
 Where any Person is required to make, give or
execute two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

  
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 Whenever in this Indenture, in connection with any application or certificate or report to the
Trustee, it is provided that the Issuer shall deliver any document as a condition of the granting of such application, or as evidence of the Issuer’s compliance with any term hereof, it is intended that the truth and accuracy, at the time of
the granting of such application or at the effective date of such certificate or report (as the case may be), of the facts and opinions stated in such document shall in such case be conditions precedent to the right of the Issuer to have such
application granted or to the sufficiency of such certificate or report. The foregoing shall not, however, be construed to affect the Trustee’s right to rely upon the truth and accuracy of any statement or opinion contained in any such document
as provided in Article VI. 
 SECTION 11.3 Acts of Noteholders. 

(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by
Noteholders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Noteholders in person or by agents duly appointed in writing; and except as herein otherwise expressly provided such action shall
become effective when such instrument or instruments are delivered to the Trustee, and, where it is hereby expressly required, to the Issuer. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes
referred to as the “Act” of the Noteholders signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and
(subject to Section 6.1) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section. In the event the Trustee shall receive conflicting or inconsistent requests and indemnity from two or more groups of
Noteholders, each representing less than a majority of the Outstanding Amount of the Notes or the Majority Noteholders, the Trustee in its sole discretion may determine what action, if any, shall be taken, notwithstanding any other provisions of
this Indenture. 
 (b) The fact and date of the execution by any person of any such instrument or writing may be proved in any customary
manner of the Trustee. 
 (c) The ownership of Notes shall be proved by the Note Register. 

(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Notes shall bind the Holder of
every Note issued upon the registration thereof or in exchange therefor or in lieu thereof, in respect of anything done, omitted or suffered to be done by the Trustee or the Issuer in reliance thereon, whether or not notation of such action is made
upon such Note. 
 SECTION 11.4 Notices, etc., to Trustee, Issuer and Rating Agencies. Any request, demand, authorization, direction,
notice, consent, waiver or Act of Noteholders or other documents provided or permitted by this Indenture to be made upon, given or furnished to or filed with: 

(a) The Trustee by any Noteholder or by the Issuer shall be personally delivered, delivered by overnight courier or mailed certified mail,
return receipt requested and shall be deemed to have been duly given upon receipt to the Trustee at its applicable Corporate Trust Office, or 

  
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 (b) The Issuer by the Trustee or by any Noteholder shall be personally delivered, delivered by
overnight courier or mailed certified mail, return receipt requested and shall deemed to have been duly given upon receipt to the Issuer addressed to: AmeriCredit Automobile Receivables Trust 2015-1, in care of Wilmington Trust Company, Rodney
Square North, 1100 North Market Street, Wilmington, Delaware 19890-0001, Attention: Corporate Trust Administration, with a copy to AmeriCredit Automobile Receivables Trust 2015-1, c/o AmeriCredit Financial Services, Inc., 801 Cherry Street, Suite
3500, Fort Worth, Texas 76102, Attention: Chief Financial Officer, or at any other address previously furnished in writing to the Trustee by Issuer. The Issuer shall promptly transmit any notice received by it from the Noteholders to the Trustee.

 (c) Notices required to be given to the Rating Agencies shall be provided by the Issuer in writing, personally delivered, electronically
delivered, delivered by overnight courier or mailed certified mail, return receipt requested to (i) in the case of DBRS, at the following address: DBRS, Inc., 140 Broadway, 35th floor, New York, New York, 10005, Attention: ABS Surveillance, or
via electronic delivery to ABS_Surveillance@dbrs.com, or (ii) in the case of Moody’s, at the following address: Moody’s Investors Service, Inc., 7 World Trade Center at 250 Greenwich Street, Asset Finance Group, 24th floor, New York,
New York 10007; or as to each of the foregoing, at such other address as shall be designated by written notice to the other parties. 

SECTION 11.5 Notices to Noteholders; Waiver. Where this Indenture provides for notice to Noteholders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class, postage prepaid to each Noteholder affected by such event, at his address as it appears on the Note Register, not later than the latest date, and
not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Noteholders is given by mail, neither the failure to mail such notice nor any defect in any notice so mailed to any particular Noteholder shall
affect the sufficiency of such notice with respect to other Noteholders, and any notice that is mailed in the manner here in provided shall conclusively be presumed to have been duly given. 

Where this Indenture provides for notice in any manner, such notice may be waived in writing by any 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 Noteholders 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 a waiver. 
 In case, by reason of the suspension of regular mail service as a result of a strike, work stoppage or
similar activity, it shall be impractical to mail notice of any event to Noteholders when such notice is required to be given pursuant to any provision of this Indenture, then any manner of giving such notice as shall be satisfactory to the Trustee
shall be deemed to be a sufficient giving of such notice. 

  
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 Where this Indenture provides for notice to the Rating Agencies, failure to give such notice
shall not affect any other rights or obligations created hereunder, and shall not under any circumstance constitute a Default or Event of Default. 

SECTION 11.6 [Reserved] 

SECTION 11.7 Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with another provision hereof
that is required to be included in this Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. 

The provisions of TIA §§ 310 through 317 that impose duties on any person (including the provisions automatically deemed
included herein unless expressly excluded by this Indenture) are a part of and govern this Indenture, whether or not physically contained herein. 

SECTION 11.8 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 11.9 Successors and Assigns. All covenants and agreements
in this Indenture and the Notes by the Issuer shall bind its successors and assigns, whether so expressed or not. All agreements of the Trustee in this Indenture shall bind its successors. All agreements of the Trust Collateral Agent in this
Indenture shall bind its successors. 
 SECTION 11.10 Separability. In case any provision in this Indenture or in the Notes 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 11.11 Benefits of Indenture. Nothing in this Indenture or in the Notes, express or implied, shall give to any Person, other
than the parties hereto and their successors hereunder, the Noteholders, and any other party secured hereunder, and any other person with an Ownership interest in any part of the Trust Estate, any benefit or any legal or equitable right, remedy or
claim under this Indenture. 
 SECTION 11.12 Legal Holidays. In any case where the date on which any payment is due shall not be a
Business Day, then (notwithstanding any other provision of the Notes or this Indenture) payment need not be made on such date, but may be made on the next succeeding Business Day with the same force and effect as if made on the date on which
nominally due, and no interest shall accrue for the period from and after any such nominal date. 
 SECTION 11.13 GOVERNING LAW. THIS
INDENTURE SHALL BE CONSTRUED IN ACCORDANCE WITH, AND THIS INDENTURE AND ALL MATTERS ARISING OUT OF OR RELATING IN ANY WAY TO THIS INDENTURE SHALL BE, GOVERNED BY THE LAW OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS CONFLICT OF LAW
PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 

  
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 SECTION 11.14 Counterparts. This Indenture may be executed in any number of counterparts,
each of which so executed shall be deemed to be an original regardless of whether delivered in physical or electronic form, but all such counterparts shall together constitute but one and the same instrument. 

SECTION 11.15 Recording of Indenture. If this Indenture is subject to recording in any appropriate public recording offices, such
recording is to be effected by the Issuer and at its expense accompanied by an Opinion of Counsel (which may be counsel to the Trustee or any other counsel reasonably acceptable to the Trustee) to the effect that such recording is necessary either
for the protection of the Noteholders or any other person secured hereunder or for the enforcement of any right or remedy granted to the Trustee or the Trust Collateral Agent under this Indenture. 

SECTION 11.16 Trust Obligation. No recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the
Seller, the Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee on the Notes or under this Indenture, any other Basic Document or any certificate or other writing delivered in connection herewith or therewith, against (i) the
Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, (ii) any owner of a beneficial interest in the Issuer or (iii) any partner, owner, beneficiary, agent, officer, director,
employee or agent of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the Owner Trustee, the Trust
Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being
understood that the Trustee, the Trust Collateral Agent and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable
law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity. 

SECTION 11.17 No Petition. The Trustee and the Trust Collateral Agent, by entering into this Indenture, and each Noteholder, by
accepting a Note, hereby covenant and agree that they will not at any time institute against the Seller, or the Issuer, or join in any institution against the Seller, or the Issuer of, any bankruptcy, reorganization, arrangement, insolvency or
liquidation proceedings, or other proceedings under any United States federal or State bankruptcy or similar law in connection with any obligations relating to the Notes, this Indenture or any of the Basic Documents. 

SECTION 11.18 Inspection. The Issuer agrees that, on reasonable prior notice, it will permit any representative of the Trustee, during
the Issuer’s normal business hours, to examine all the books of account, records, reports, and other papers of the Issuer, to make copies and extracts therefrom, to cause such books to be audited by independent certified public accountants, and
to discuss the Issuer’s affairs, finances and accounts with the Issuer’s officers, employees, and independent certified public accountants, all at such reasonable times and as often as may be reasonably requested. Notwithstanding anything
herein to the contrary, the foregoing shall not be construed to prohibit (i) disclosure of any and all information that is or becomes publicly known, (ii) disclosure of any and all information (A) if required to do so by 

  
 68 

 
any applicable statute, law, rule or regulation, (B) to any government agency or regulatory body having or claiming authority to regulate or oversee any respects of the Trustee’s
business or that of its affiliates, (C) pursuant to any subpoena, civil investigative demand or similar demand or request of any court, regulatory authority, arbitrator or arbitration to which the Trustee or an affiliate or an officer,
director, employer or shareholder thereof is a party, (D) in any preliminary or final offering circular, registration statement or contract or other document pertaining to the transactions contemplated by this Indenture approved in advance by
the Servicer or the Issuer or (E) to any independent or internal auditor, agent, employee or attorney of the Trustee having a need to know the same, provided that the Trustee advises such recipient of the confidential nature of the information
being disclosed, or (iii) any other disclosure authorized by the Servicer or the Issuer. 
 SECTION 11.19 Submission to
Jurisdiction; Waiver of Jury Trial. Each of the parties hereto hereby irrevocably and unconditionally: 
 (a) submits for itself and its
property in any legal action relating to this Indenture, the Basic Documents or any other documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general
jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 

(b) that any such action may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such action
in any such court or that such action was brought in an inconvenient court and agrees not to plead or claim the same; and 
 (c) waives, to
the fullest extent permitted by law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Indenture, the Basic Documents or the transactions contemplated hereby. 

SECTION 11.20 No Partnership or Joint Venture. Nothing herein contained shall constitute a partnership between or joint venture by the
parties hereto or constitute either party the agent of the other. Neither party shall hold itself out contrary to the terms of this Section and neither party shall become liable by any representation, act or omission of the other contrary to the
provisions hereof. 
 SECTION 11.21 Limitation of Liability of the Owner Trustee. It is expressly understood and agreed by the
parties hereto that (a) this Indenture is executed and delivered by Wilmington Trust Company, not individually or personally but solely as trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it,
(b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and intended for the
purpose of binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all
such liability, if any, being expressly waived by the parties hereto and by any Person claiming 

  
 69 

 
by, through or under the parties hereto, (d) Wilmington Trust Company has made no investigation as to the accuracy or completeness of any representations or warranties made by the Issuer in
this Indenture and (e) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or be liable for the breach or failure of any obligation, representation, warranty
or covenant made or undertaken by the Issuer under this Indenture or any other related documents. 
 [Remainder of Page Intentionally Left
Blank] 

  
 70 

 IN WITNESS WHEREOF, the Issuer and the Trustee have caused this Indenture to be duly executed by
their respective officers, hereunto duly authorized, all as of the day and year first above written. 
  

			
	AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1,
		
	By:	 	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee
		
	By:	 	  

	Name:
	Title:
	
	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Trustee and Trust Collateral Agent
		
	By:	 	  

	Name:
	Title:

  

  
 [Indenture] 

 EXHIBIT A-1 
  

			
	REGISTERED	  	$156,000,000

 No. RB A-1 
 SEE
REVERSE FOR CERTAIN DEFINITIONS 
 CUSIP NO. 03065K AA9 

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC
(and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH
HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1 

CLASS A-1 0.30000% ASSET BACKED NOTE 

AmeriCredit Automobile Receivables Trust 2015-1, a statutory trust organized and existing under the laws of the State of Delaware (herein
referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of ONE HUNDRED FIFTY-SIX MILLION DOLLARS payable on each Distribution Date in an amount equal
to the result obtained by multiplying (i) a fraction the numerator of which is $156,000,000 and the denominator of which is $156,000,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and Collection
Account in respect of principal on the Class A-1 Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the Distribution Date occurring on January 8, 2016
(the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on
this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from January 22, 2015. Interest will be
computed on the basis of a 360-day year and the actual number of days in the related Interest Period. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

 The principal of and interest on this Note are payable in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then
to the unpaid principal of this Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which
shall have the same effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been
executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

  
 A-1-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer as of the date set forth below. 
  

			
	AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1
		
	by	 	
	
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	by	 	  

	Name:
	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

					
	Date: January 22, 2015	 	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Trustee
			
		 	by	 	  

		 	Authorized Signer

  
 A-1-3 

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-1 0.30000% Asset Backed Notes (herein
called the “Class A-1 Notes”), all issued under an Indenture dated as of January 13, 2015 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and The Bank of New
York Mellon, as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral
Agent) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all
terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the
Class E Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture. 

Principal of the Class A-1 Notes will be payable on each Distribution Date in an amount described on the face hereof.
“Distribution Date” means the eighth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing February 9, 2015. If AmeriCredit is no longer acting as Servicer, the distribution
date may be a different day of the month. 
 As described above, the entire unpaid principal amount of this Note shall be due and payable on
the earlier of the Final Scheduled Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any.
Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be
immediately due and payable in the manner provided in the Indenture. All principal payments on the Class A-1 Notes shall be made pro rata to the Class A-1 Noteholders entitled thereto. 

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by
such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any
reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of

  
 A-1-4 

 
transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then
remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such Distribution Date by notice
mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent
appointed for such purposes located in Dallas, Texas. 
 The Issuer shall pay interest on overdue installments of interest at the
Class A-1 Interest Rate to the extent lawful. 
 As provided in the Indenture and subject to certain limitations set forth therein, the
transfer of this Note may be registered on the Note Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of
the Note Registrar which requirements include membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in
addition to, or in substitution for, STAMP, all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same
aggregate principal amount will be issued to the designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover
any tax or other governmental charge that may be imposed in connection with any such registration of transfer or exchange. 
 If this Note
has been issued as a Definitive Note, the Note Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a
Benefit Plan Entity and its acquisition, holding and disposition of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will
not violate such Similar Law). If this Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition, holding and disposition
of this Note or any beneficial interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law).

 Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and
agrees (i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee, the Trust Collateral Agent or the Trustee on the Notes or under the Indenture or any certificate or other
writing delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any
partner, owner, beneficiary, agent, officer, director or 

  
 A-1-5 

 
employee of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the
Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may
have expressly agreed (it being understood that the Trustee, the Trust Collateral Agent and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the
extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person
other than AFS SenSub Corp., or its Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes. 

Prior to the due presentment for registration of transfer of this Note, the Issuer, the Trust Collateral Agent and the Trustee and any agent
of the Issuer, the Trust Collateral Agent or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes,
whether or not this Note be overdue, and neither the Issuer, the Trust Collateral Agent, the Trustee nor any such agent shall be affected by notice to the contrary. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages
of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof
or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes
issued thereunder. 
 The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the
Noteholders under the Indenture. 
 The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to
certain limitations therein set forth. 
 This Note and the Indenture shall be construed in accordance with the laws of the State of New
York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 

  
 A-1-6 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither
Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable
for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being
expressly understood that said covenants, obligations and indemnifications have been made by the Issuer for the sole purposes of binding the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the
Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained
herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 A-1-7 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

			
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
	 	  

		 	(name and address of assignee)

 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on
the books kept for registration thereof, with full power of substitution in the premises. 
  

							
	 Dated
	 	  
	 	1	  	  

		 		 		  	Signature Guaranteed:
			
	  
	 		  	  

  

	1 	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 A-1-8 

 EXHIBIT A-2 
  

			
	REGISTERED	  	$100,000,000

 No. RB A-2-A 

SEE REVERSE FOR CERTAIN DEFINITIONS 

CUSIP NO. 03065K AB7 
 Unless this
Note is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in
the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY
TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 
 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1 

CLASS A-2-A 0.77% ASSET BACKED NOTE 

AmeriCredit Automobile Receivables Trust 2015-1, a statutory trust organized and existing under the laws of the State of Delaware (herein
referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of ONE HUNDRED MILLION DOLLARS payable on each Distribution Date in an amount equal to the
result obtained by multiplying (i) a fraction the numerator of which is $100,000,000 and the denominator of which is $100,000,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and Collection Account in
respect of principal on the Class A-2-A Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the April 9, 2018 Distribution Date (the “Final
Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue
for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from January 22, 2015. Interest will be computed on the basis of a
360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

 The principal of and interest on this Note are payable in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then
to the unpaid principal of this Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which
shall have the same effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been
executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

  
 A-2-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer as of the date set forth below. 
  

			
	AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1
		
	by	 	
	
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	by	 	  

	Name:
	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

					
	Date: January 22, 2015	 	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Trustee
			
		 	by	 	  

		 	Authorized Signer

  
 A-2-3 

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-2-A 0.77% Asset Backed Notes (herein called
the “Class A-2-A Notes” and together with the Class A-2-B Notes, the “Class A-2 Notes”), all issued under an Indenture dated as of January 13, 2015 (such indenture, as supplemented or amended, is herein
called the “Indenture”), between the Issuer and The Bank of New York Mellon, as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the
“Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations
thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to
them in or pursuant to the Indenture, as so supplemented or amended. 
 The Class A-1 Notes, the Class A-2 Notes, the
Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in
the Indenture. 
 Principal of the Class A-2-A Notes will be payable on each Distribution Date in an amount described on the face
hereof. “Distribution Date” means the eighth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing February 9, 2015. If AmeriCredit is no longer acting as Servicer, the
distribution date may be a different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled
Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the
entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner
provided in the Indenture. All principal payments on the Class A-2-A Notes shall be made pro rata to the Class A-2-A Noteholders entitled thereto. 

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by
such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any
reduction in the principal amount of this Note (or any 

  
 A-2-4 

 
one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a
Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount
then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Dallas, Texas. 

The Issuer shall pay interest on overdue installments of interest at the Class A-2-A Interest Rate to the extent lawful. 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note
Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include
membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange. 
 If this Note has been issued as a Definitive Note, the Note
Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition,
holding and disposition of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law). If this
Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition, holding and disposition of this Note or any beneficial
interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law). 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees
(i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee, the Trust Collateral Agent or the Trustee on the Notes or under the Indenture or any certificate or other writing
delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee, the 

  
 A-2-5 

 
Trust Collateral Agent or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer,
director or employee of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the Owner Trustee, the Trust
Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being
understood that the Trustee, the Trust Collateral Agent and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable
law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp.,
or its Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes. 
 Prior
to the due presentment for registration of transfer of this Note, the Issuer, the Trust Collateral Agent and the Trustee and any agent of the Issuer, the Trust Collateral Agent or the Trustee may treat the Person in whose name this Note (as of the
day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trust Collateral Agent, the Trustee nor any such
agent shall be affected by notice to the contrary. 
 The Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions
permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued
upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set
forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
 The term “Issuer” as used in this
Note includes any successor to the Issuer under the Indenture. 
 The Issuer is permitted by the Indenture, under certain circumstances, to
merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture. 
 The Notes are issuable only in
registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
 This Note and the
Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in
accordance with such laws. 

  
 A-2-6 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither
Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable
for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being
expressly understood that said covenants, obligations and indemnifications have been made by the Issuer for the sole purposes of binding the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the
Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained
herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 A-2-7 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

			
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
	 	  

		 	(name and address of assignee)

 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on
the books kept for registration thereof, with full power of substitution in the premises. 
  

							
	 Dated
	 	  
	 	1	  	  

		 		 		  	 Signature Guaranteed:

	  
	 		  	  

  

	1 	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 A-2-8 

 EXHIBIT A-3 
  

			
	REGISTERED	  	$235,000,000

 No. RB A-2-B 

SEE REVERSE FOR CERTAIN DEFINITIONS 

CUSIP NO. 03065K AC5 
 Unless this
Note is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in
the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY
TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 
 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1 

CLASS A-2-B FLOATING RATE ASSET BACKED NOTE 

AmeriCredit Automobile Receivables Trust 2015-1, a statutory trust organized and existing under the laws of the State of Delaware (herein
referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of TWO HUNDRED THIRTY FIVE MILLION DOLLARS payable on each Distribution Date in an amount
equal to the result obtained by multiplying (i) a fraction the numerator of which is $235,000,000 and the denominator of which is $235,000,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and Collection
Account in respect of principal on the Class A-2-B Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the April 9, 2018 Distribution Date (the
“Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate of LIBOR + 0.42% per annum on each Distribution Date until the principal of this Note is paid or made available for payment. Interest
on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from January 22, 2015. Interest will be
computed on the basis of a 360-day year and the actual number of days in the related Interest Period. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

 The principal of and interest on this Note are payable in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then
to the unpaid principal of this Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which
shall have the same effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been
executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

  
 A-3-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer as of the date set forth below. 
  

			
	AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1
		
	by	 	
	
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	by	 	  

	Name:
	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

					
	Date: January 22, 2015	 	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Trustee
			
		 	by	 	  

		 	Authorized Signer

  
 A-3-3 

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-2-B Floating Rate Asset Backed Notes
(herein called the “Class A-2-B Notes” and together with the Class A-2-A Notes, the “Class A-2 Notes”), all issued under an Indenture dated as of January 13, 2015 (such indenture, as supplemented or
amended, is herein called the “Indenture”), between the Issuer and The Bank of New York Mellon, as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent
(the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations
thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to
them in or pursuant to the Indenture, as so supplemented or amended. 
 The Class A-1 Notes, the Class A-2 Notes, the
Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in
the Indenture. 
 Principal of the Class A-2-B Notes will be payable on each Distribution Date in an amount described on the face
hereof. “Distribution Date” means the eighth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing February 9, 2015. If AmeriCredit is no longer acting as Servicer, the
distribution date may be a different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled
Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the
entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner
provided in the Indenture. All principal payments on the Class A-2-B Notes shall be made pro rata to the Class A-2-B Noteholders entitled thereto. 

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by
such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any
reduction in the principal amount of this Note (or any 

  
 A-3-4 

 
one or more Predecessor Notes) effected by any payments made on any Distribution Date shall be binding upon all future Holders of this Note and of any Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a
Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount
then due and payable shall be payable only upon presentation and surrender of this Note at the Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Dallas, Texas. 

The Issuer shall pay interest on overdue installments of interest at the Class A-2-B Interest Rate to the extent lawful. 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note
Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include
membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange. 
 If this Note has been issued as a Definitive Note, the Note
Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition,
holding and disposition of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law). If this
Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition, holding and disposition of this Note or any beneficial
interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law). 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees
(i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee, the Trust Collateral Agent or the Trustee on the Notes or under the Indenture or any certificate or other writing
delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee, the 

  
 A-3-5 

 
Trust Collateral Agent or the Owner Trustee in its individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer,
director or employee of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the Owner Trustee, the Trust
Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being
understood that the Trustee, the Trust Collateral Agent and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable
law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp.,
or its Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes. 
 Prior
to the due presentment for registration of transfer of this Note, the Issuer, the Trust Collateral Agent and the Trustee and any agent of the Issuer, the Trust Collateral Agent or the Trustee may treat the Person in whose name this Note (as of the
day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trust Collateral Agent, the Trustee nor any such
agent shall be affected by notice to the contrary. 
 The Indenture permits, with certain exceptions as therein provided, the amendment
thereof and the modification of the rights and obligations of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions
permitting the Noteholders representing specified percentages of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued
upon the registration of transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set
forth in the Indenture without the consent of Holders of the Notes issued thereunder. 
 The term “Issuer” as used in this
Note includes any successor to the Issuer under the Indenture. 
 The Issuer is permitted by the Indenture, under certain circumstances, to
merge or consolidate, subject to the rights of the Trustee and the Noteholders under the Indenture. 
 The Notes are issuable only in
registered form in denominations as provided in the Indenture, subject to certain limitations therein set forth. 
 This Note and the
Indenture shall be construed in accordance with the laws of the State of New York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in
accordance with such laws. 

  
 A-3-6 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither
Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable
for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being
expressly understood that said covenants, obligations and indemnifications have been made by the Issuer for the sole purposes of binding the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the
Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained
herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 A-3-7 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

			
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
	 	  

		 	(name and address of assignee)

 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on
the books kept for registration thereof, with full power of substitution in the premises. 
  

							
	 Dated
	 	  
	 	1	  	  

		 		 		  	 Signature Guaranteed:

			
	  
	 		  	  

  

	1 	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 A-3-8 

 EXHIBIT A-4 
  

			
	REGISTERED	  	$292,390,000

 No. RB A-3 
 SEE
REVERSE FOR CERTAIN DEFINITIONS 
 CUSIP NO. 03065K AD3 

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC
(and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH
HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1 

CLASS A-3 1.26% ASSET BACKED NOTE 

AmeriCredit Automobile Receivables Trust 2015-1, a statutory trust organized and existing under the laws of the State of Delaware (herein
referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of TWO HUNDRED NINETY-TWO MILLION THREE HUNDRED NINTEY THOUSAND DOLLARS payable on each
Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $292,390,000 and the denominator of which is $292,390,000 by (ii) the aggregate amount, if any, payable from the Note
Distribution Account and Collection Account in respect of principal on the Class A-3 Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the
November 8, 2019 Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or
made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from
January 22, 2015. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

 The principal of and interest on this Note are payable in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then
to the unpaid principal of this Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which
shall have the same effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been
executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

  
 A-4-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer as of the date set forth below. 
  

			
	AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1
		
	by	 	
	
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	by	 	  

	Name:
	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

					
	Date: January 22, 2015	 	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Trustee
			
		 	by	 	  

		 	Authorized Signer

  
 A-4-3 

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class A-3 1.26% Asset Backed Notes (herein called
the “Class A-3 Notes”), all issued under an Indenture dated as of January 13, 2015 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and The Bank of New York
Mellon, as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral
Agent) to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all
terms of the Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the
Class E Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture. 

Principal of the Class A-3 Notes will be payable on each Distribution Date in an amount described on the face hereof.
“Distribution Date” means the eighth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing February 9, 2015. If AmeriCredit is no longer acting as Servicer, the distribution
date may be a different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled
Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the
entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner
provided in the Indenture. All principal payments on the Class A-3 Notes shall be made pro rata to the Class A-3 Noteholders entitled thereto. 

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by
such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any
reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall 

  
 A-4-4 

 
be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are
expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who
was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the
Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Dallas, Texas. 

The Issuer shall pay interest on overdue installments of interest at the Class A-3 Interest Rate to the extent lawful. 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note
Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include
membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange. 
 If this Note has been issued as a Definitive Note, the Note
Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition,
holding and disposition of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law). If this
Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition, holding and disposition of this Note or any beneficial
interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law). 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees
(i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee, the Trust Collateral Agent or the Trustee on the Notes or under the Indenture or any certificate or other writing
delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, (b) any owner of a 

  
 A-4-5 

 
beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the
Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the
Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee, the Trust Collateral Agent and the Owner Trustee have no such obligations
in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp., or its Affiliates, as indebtedness for purposes of federal income, state and local income and
franchise and any other income taxes. 
 Prior to the due presentment for registration of transfer of this Note, the Issuer, the Trust
Collateral Agent and the Trustee and any agent of the Issuer, the Trust Collateral Agent or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trust Collateral Agent, the Trustee nor any such agent shall be affected by notice to the contrary. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages
of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof
or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes
issued thereunder. 
 The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the
Noteholders under the Indenture. 
 The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to
certain limitations therein set forth. 
 This Note and the Indenture shall be construed in accordance with the laws of the State of New
York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 

  
 A-4-6 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither
Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable
for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being
expressly understood that said covenants, obligations and indemnifications have been made by the Issuer for the sole purposes of binding the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the
Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained
herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 A-4-7 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

			
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
	 	  

		 	(name and address of assignee)

 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on
the books kept for registration thereof, with full power of substitution in the premises. 
  

							
	 Dated
	 	  
	 	1	  	  

		 		 		  	 Signature Guaranteed:

			
	  
	 		  	  

  
  

	1 	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 A-4-8 

 EXHIBIT B 
  

			
	REGISTERED	  	$84,390,000

 No. RB B 
 SEE
REVERSE FOR CERTAIN DEFINITIONS 
 CUSIP NO. 03065K AE1 

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC
(and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH
HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1 

CLASS B 1.88% ASSET BACKED NOTE 

AmeriCredit Automobile Receivables Trust 2015-1, a statutory trust organized and existing under the laws of the State of Delaware (herein
referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of EIGHTY-FOUR MILLION THREE HUNDRED NINETY THOUSAND DOLLARS payable on each Distribution Date
in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $84,390,000 and the denominator of which is $84,390,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and
Collection Account in respect of principal on the Class B Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the March 9, 2020 Distribution Date (the
“Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this
Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from January 22, 2015. Interest will be computed on
the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

 The principal of and interest on this Note are payable in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then
to the unpaid principal of this Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof, which
shall have the same effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been
executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

  
 B-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer as of the date set forth below. 
  

			
	AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1
		
	by	 	
	
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	by	 	  

	Name:
	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

					
	Date: January 22, 2015	 	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Trustee
			
		 	by	 	  

		 	Authorized Signer

  
 B-3 

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class B 1.88% Asset Backed Notes (herein called the
“Class B Notes”), all issued under an Indenture dated as of January 13, 2015 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and The Bank of New York Mellon,
as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to
which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the
Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the
Class E Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture. 

Principal of the Class B Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution
Date” means the eighth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing February 9, 2015. If AmeriCredit is no longer acting as Servicer, the distribution date may be a
different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled
Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the
entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner
provided in the Indenture. All principal payments on the Class B Notes shall be made pro rata to the Class B Noteholders entitled thereto. 

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by
such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any
reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall 

  
 B-4 

 
be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are
expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who
was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the
Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Dallas, Texas. 

The Issuer shall pay interest on overdue installments of interest at the Class B Interest Rate to the extent lawful. 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note
Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include
membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange. 
 If this Note has been issued as a Definitive Note, the Note
Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition,
holding and disposition of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law). If this
Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition, holding and disposition of this Note or any beneficial
interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law). 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees
(i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee, the Trust Collateral Agent or the Trustee on the Notes or under the Indenture or any certificate or other writing
delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, (b) any owner of a 

  
 B-5 

 
beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the
Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the
Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee, the Trust Collateral Agent and the Owner Trustee have no such obligations
in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp., or its Affiliates, as indebtedness for purposes of federal income, state and local income and
franchise and any other income taxes. 
 Prior to the due presentment for registration of transfer of this Note, the Issuer, the Trust
Collateral Agent and the Trustee and any agent of the Issuer, the Trust Collateral Agent or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trust Collateral Agent, the Trustee nor any such agent shall be affected by notice to the contrary. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages
of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof
or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes
issued thereunder. 
 The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the
Noteholders under the Indenture. 
 The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to
certain limitations therein set forth. 
 This Note and the Indenture shall be construed in accordance with the laws of the State of New
York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 

  
 B-6 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither
Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable
for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being
expressly understood that said covenants, obligations and indemnifications have been made by the Issuer for the sole purposes of binding the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the
Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained
herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 B-7 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

			
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
	 	  

		 	(name and address of assignee)

 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on
the books kept for registration thereof, with full power of substitution in the premises. 
  

							
	 Dated
	 	  
	 	1	  	  

		 		 		  	 Signature Guaranteed:

			
	  
	 		  	  

  

	1 	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 B-8 

 EXHIBIT C 
  

			
	REGISTERED	  	$104,760,000

 No. RB C 
 SEE
REVERSE FOR CERTAIN DEFINITIONS 
 CUSIP NO. 03065K AF8 

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC
(and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH
HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1 

CLASS C 2.51% ASSET BACKED NOTE 
 AmeriCredit
Automobile Receivables Trust 2015-1, a statutory trust organized and existing under the laws of the State of Delaware (herein referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or
registered assigns, the principal sum of ONE HUNDRED FOUR MILLION SEVEN HUNDRED SIXTY THOUSAND DOLLARS payable on each Distribution Date in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is
$104,760,000 and the denominator of which is $104,760,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and Collection Account in respect of principal on the Class C Notes pursuant to the Indenture;
provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the January 8, 2021 Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this
Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which
interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from January 22, 2015. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and
interest on this Note shall be paid in the manner specified on the reverse hereof. 
 The principal of and interest on this Note are payable
in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable
on this Note as provided above and then to the unpaid principal of this Note. 

 Reference is made to the further provisions of this Note set forth on the reverse hereof, which
shall have the same effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has been
executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

  
 C-2 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer as of the date set forth below. 
  

			
	AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1
		
	by	 	
	
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	by	 	  

 
			
	 Name:
	 	
	 Title:
	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

					
	 Date: January 22, 2015
	 	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Trustee
			
		 	by	 	  

		 	Authorized Signer

  
 C-3 

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class C 2.51% Asset Backed Notes (herein called the
“Class C Notes”), all issued under an Indenture dated as of January 13, 2015 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and The Bank of New York Mellon,
as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to
which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the
Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the
Class E Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture. 

Principal of the Class C Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution
Date” means the eighth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing February 9, 2015. If AmeriCredit is no longer acting as Servicer, the distribution date may be a
different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled
Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the
entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner
provided in the Indenture. All principal payments on the Class C Notes shall be made pro rata to the Class C Noteholders entitled thereto. 

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by
such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any
reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall 

  
 C-4 

 
be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are
expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who
was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the
Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Dallas, Texas. 

The Issuer shall pay interest on overdue installments of interest at the Class C Interest Rate to the extent lawful. 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note
Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include
membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange. 
 If this Note has been issued as a Definitive Note, the Note
Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing that either (a) it is not a Benefit Plan Entity or (b) it is a Benefit Plan Entity and its acquisition,
holding and disposition of this Note is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law). If this
Note has been issued as a Book Entry Note, each transferee of this Note or any beneficial interest herein that is a Benefit Plan Entity shall be deemed to represent that its acquisition, holding and disposition of this Note or any beneficial
interest herein is covered by a Prohibited Transaction Class Exemption or the Statutory Exemption (or, if it is subject to any Similar Law, such acquisition, holding and disposition will not violate such Similar Law). 

Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees
(i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee, the Trust Collateral Agent or the Trustee on the Notes or under the Indenture or any certificate or other writing
delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, (b) any owner of a 

  
 C-5 

 
beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the
Owner Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the
Trustee, the Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being understood that the Trustee, the Trust Collateral Agent and the Owner Trustee have no such obligations
in their individual capacity) and except that any such partner, owner or beneficiary shall be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity, and (ii) to treat the Notes that are owned or beneficially owned by a Person other than AFS SenSub Corp., or its Affiliates, as indebtedness for purposes of federal income, state and local income and
franchise and any other income taxes. 
 Prior to the due presentment for registration of transfer of this Note, the Issuer, the Trust
Collateral Agent and the Trustee and any agent of the Issuer, the Trust Collateral Agent or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is
registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Issuer, the Trust Collateral Agent, the Trustee nor any such agent shall be affected by notice to the contrary. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages
of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof
or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes
issued thereunder. 
 The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the
Noteholders under the Indenture. 
 The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to
certain limitations therein set forth. 
 This Note and the Indenture shall be construed in accordance with the laws of the State of New
York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 

  
 C-6 

 No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Issuer, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

Anything herein to the contrary notwithstanding, except as expressly provided in the Indenture or the Basic Documents, neither
Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or successors or assigns shall be personally liable
for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications contained in this Note or the Indenture, it being
expressly understood that said covenants, obligations and indemnifications have been made by the Issuer for the sole purposes of binding the Issuer. The Holder of this Note by the acceptance hereof agrees that except as expressly provided in the
Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom; provided, however, that nothing contained
herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note. 

  
 C-7 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

			
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                         
                           

	
                         
                                         
                                         
                                         
(name and address of assignee)

 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on
the books kept for registration thereof, with full power of substitution in the premises. 
  

							
	 Dated
	 	  
	 	1	  	  

		 		 		  	Signature Guaranteed:
			
	  
	 		  	  

  

	1 	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 C-8 

 EXHIBIT D 
  

			
	REGISTERED	  	$103,020,000

 No. RB D 
 SEE
REVERSE FOR CERTAIN DEFINITIONS 
 CUSIP NO. 03065K AG6 

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC
(and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein. 
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER THE SECURITIES OR BLUE SKY LAWS OF ANY STATE IN THE UNITED STATES OR ANY FOREIGN SECURITIES LAWS. BY ITS ACCEPTANCE OF THIS NOTE THE HOLDER OF THIS NOTE IS DEEMED
TO REPRESENT TO AFS SENSUB CORP. (THE “SELLER”) AND THE OWNER TRUSTEE THAT IT (I) IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A “QIB”) AND IS
ACQUIRING SUCH NOTE FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE QIBS) TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR (II) IS AN
“ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501 UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR”) AND IS ACQUIRING SUCH NOTE FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR
OTHERS (WHICH OTHERS ALSO ARE ACCREDITED INVESTORS) OR (III) IS OTHERWISE ACQUIRING THIS NOTE IN A TRANSACTION EXEMPT FROM THE SECURITIES ACT. 

NO SALE, PLEDGE OR OTHER TRANSFER OF THIS NOTE MAY BE MADE BY ANY PERSON UNLESS (I) SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO THE
SELLER, (II) SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO A PERSON WHOM THE TRANSFEROR REASONABLY BELIEVES AFTER DUE INQUIRY IS A QIB ACTING FOR ITS OWN
ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE QIBS) TO WHOM NOTICE IS GIVEN THAT THE SALE, PLEDGE OR TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR (III) SUCH SALE, PLEDGE OR OTHER
TRANSFER IS OTHERWISE 

 
MADE IN A TRANSFER EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, IN WHICH CASE (A) THE ISSUER SHALL REQUIRE THAT BOTH THE PROSPECTIVE TRANSFEROR AND THE PROSPECTIVE
TRANSFEREE CERTIFY TO THE ISSUER AND THE SELLER IN WRITING THE FACTS SURROUNDING SUCH TRANSFER, WHICH CERTIFICATION SHALL BE IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER AND THE SELLER, AND (B) THE ISSUER SHALL REQUIRE A WRITTEN OPINION OF
COUNSEL (WHICH SHALL NOT BE AT THE EXPENSE OF THE ISSUER, THE SELLER OR THE OWNER TRUSTEE) SATISFACTORY TO THE SELLER AND THE ISSUER TO THE EFFECT THAT SUCH TRANSFER WILL NOT VIOLATE THE SECURITIES ACT OR THE APPLICABLE STATE SECURITIES LAWS. ANY
ATTEMPTED TRANSFER IN CONTRAVENTION OF THE IMMEDIATELY PRECEDING RESTRICTIONS WILL BE VOID AB INITIO AND THE PURPORTED TRANSFEROR WILL CONTINUE TO BE TREATED AS THE OWNER OF THE NOTES FOR ALL PURPOSES. 

EACH PURCHASER OR TRANSFEREE OF A BENEFICIAL INTEREST IN THIS NOTE SHALL BE DEEMED TO REPRESENT THAT IT IS NOT, AND IS NOT ACTING ON BEHALF OF
OR INVESTING THE ASSETS OF, (A) AN “EMPLOYEE BENEFIT PLAN” (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)) THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY
PROVISIONS OF TITLE I OF ERISA, (B) A “PLAN” (WITHIN THE MEANING OF SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”)) THAT IS SUBJECT TO SECTION 4975 OF THE CODE, (C) ANY ENTITY
WHOSE UNDERLYING ASSETS ARE DEEMED TO BE ASSETS OF AN EMPLOYEE BENEFIT PLAN OR PLAN DESCRIBED IN (A) OR (B) BY REASON OF SUCH EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE ENTITY (COLLECTIVELY, A “BENEFIT PLAN
INVESTOR”) OR (D) AN EMPLOYEE BENEFIT PLAN, A PLAN OR OTHER SIMILAR ARRANGEMENT THAT IS NOT A BENEFIT PLAN INVESTOR BUT IS SUBJECT TO FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO
SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 
 AMERICREDIT AUTOMOBILE
RECEIVABLES TRUST 2015-1 
 CLASS D 2.95% ASSET BACKED NOTE 

AmeriCredit Automobile Receivables Trust 2015-1, a statutory trust organized and existing under the laws of the State of Delaware (herein
referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of ONE HUNDRED THREE MILLION TWENTY THOUSAND DOLLARS payable on each Distribution Date in an
amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $103,020,000 and the denominator of which is $103,020,000 by (ii) the 

  
 D-2 

 
aggregate amount, if any, payable from the Note Distribution Account and Collection Account in respect of principal on the Class D Notes pursuant to the Indenture; provided, however, that
the entire unpaid principal amount of this Note shall be due and payable on the February 8, 2021 Distribution Date (the “Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown
above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but
excluding such Distribution Date or, if no interest has yet been paid, from January 22, 2015. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid
in the manner specified on the reverse hereof. 
 The principal of and interest on this Note are payable in such coin or currency of the
United States of America as at the time of payment is legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above
and then to the unpaid principal of this Note. 
 Reference is made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth on the face of this Note. 
 Unless the certificate of authentication hereon has
been executed by the Trustee whose name appears below by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

  
 D-3 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer as of the date set forth below. 
  

			
	AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1
		
	by	 	
	
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	by	 	  

 
			
	 Name:
	 	
	 Title:
	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

					
	 Date: January 22, 2015
	 	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Trustee
			
		 	by	 	  

		 	Authorized Signer

  
 D-4 

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class D 2.95% Asset Backed Notes (herein called the
“Class D Notes”), all issued under an Indenture dated as of January 13, 2015 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and The Bank of New York Mellon,
as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to
which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the
Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the
Class E Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture. 

Principal of the Class D Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution
Date” means the eighth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing February 9, 2015. If AmeriCredit is no longer acting as Servicer, the distribution date may be a
different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled
Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the
entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner
provided in the Indenture. All principal payments on the Class D Notes shall be made pro rata to the Class D Noteholders entitled thereto. 

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by
such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any
reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall 

  
 D-5 

 
be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are
expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who
was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the
Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Dallas, Texas. 

The Issuer shall pay interest on overdue installments of interest at the Class D Interest Rate to the extent lawful. 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note
Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include
membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange. 
 If this Note has been issued as a Definitive Note, the Note
Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing it is not a Benefit Plan Entity. If this Note has been issued as a Book Entry Note, each transferee of this Note or any
beneficial interest herein shall be deemed to represent that it is not a Benefit Plan Entity. 
 Each Noteholder or Note Owner, by
acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee, the Trust
Collateral Agent or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its
individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner
Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee, the
Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being 

  
 D-6 

 
understood that the Trustee, the Trust Collateral Agent and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall
be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or
beneficially owned by a Person other than AFS SenSub Corp., or its Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes. 

Prior to the due presentment for registration of transfer of this Note, the Issuer, the Trust Collateral Agent and the Trustee and any agent
of the Issuer, the Trust Collateral Agent or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes,
whether or not this Note be overdue, and neither the Issuer, the Trust Collateral Agent, the Trustee nor any such agent shall be affected by notice to the contrary. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages
of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof
or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes
issued thereunder. 
 The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the
Noteholders under the Indenture. 
 The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to
certain limitations therein set forth. 
 This Note and the Indenture shall be construed in accordance with the laws of the State of New
York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer,
which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

  
 D-7 

 Anything herein to the contrary notwithstanding, except as expressly provided in the
Indenture or the Basic Documents, neither Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or
successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications
contained in this Note or the Indenture, it being expressly understood that said covenants, obligations and indemnifications have been made by the Issuer for the sole purposes of binding the Issuer. The Holder of this Note by the acceptance hereof
agrees that except as expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom;
provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note.

  
 D-8 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

			
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                         
                           

	
                         
                                         
                                         
                                         
(name and address of assignee)

 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on
the books kept for registration thereof, with full power of substitution in the premises. 
  

							
	 Dated
	 	  
	 	1	  	  

		 		 		  	Signature Guaranteed:
			
	  
	 		  	  

  

	1 	NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any change whatsoever.

  
 D-9 

 EXHIBIT E 
  

			
	REGISTERED	  	$24,440,000

 No. RB E 
 SEE
REVERSE FOR CERTAIN DEFINITIONS 
 CUSIP NO. 03065K AH4 

Unless this Note is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Issuer or its agent for registration of transfer, exchange or payment, and any Note issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC
(and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein. 
 THIS NOTE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR UNDER THE SECURITIES OR BLUE SKY LAWS OF ANY STATE IN THE UNITED STATES OR ANY FOREIGN SECURITIES LAWS. BY ITS ACCEPTANCE OF THIS NOTE THE HOLDER OF THIS NOTE IS DEEMED
TO REPRESENT TO AFS SENSUB CORP. (THE “SELLER”) AND THE OWNER TRUSTEE THAT IT (I) IS A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT (A “QIB”) AND IS
ACQUIRING SUCH NOTE FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE QIBS) TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR (II) IS AN
“ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501 UNDER THE SECURITIES ACT (AN “ACCREDITED INVESTOR”) AND IS ACQUIRING SUCH NOTE FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR
OTHERS (WHICH OTHERS ALSO ARE ACCREDITED INVESTORS) OR (III) IS OTHERWISE ACQUIRING THIS NOTE IN A TRANSACTION EXEMPT FROM THE SECURITIES ACT. 

NO SALE, PLEDGE OR OTHER TRANSFER OF THIS NOTE MAY BE MADE BY ANY PERSON UNLESS (I) SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO THE
SELLER, (II) SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO A PERSON WHOM THE TRANSFEROR REASONABLY BELIEVES AFTER DUE INQUIRY IS A QIB ACTING FOR ITS OWN
ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE QIBS) TO WHOM NOTICE IS GIVEN THAT THE SALE, PLEDGE OR TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A OR (III) SUCH SALE, PLEDGE OR OTHER
TRANSFER IS OTHERWISE 

 
MADE IN A TRANSFER EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, IN WHICH CASE (A) THE ISSUER SHALL REQUIRE THAT BOTH THE PROSPECTIVE TRANSFEROR AND THE PROSPECTIVE
TRANSFEREE CERTIFY TO THE ISSUER AND THE SELLER IN WRITING THE FACTS SURROUNDING SUCH TRANSFER, WHICH CERTIFICATION SHALL BE IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER AND THE SELLER, AND (B) THE ISSUER SHALL REQUIRE A WRITTEN OPINION OF
COUNSEL (WHICH SHALL NOT BE AT THE EXPENSE OF THE ISSUER, THE SELLER OR THE OWNER TRUSTEE) SATISFACTORY TO THE SELLER AND THE ISSUER TO THE EFFECT THAT SUCH TRANSFER WILL NOT VIOLATE THE SECURITIES ACT OR THE APPLICABLE STATE SECURITIES LAWS. ANY
ATTEMPTED TRANSFER IN CONTRAVENTION OF THE IMMEDIATELY PRECEDING RESTRICTIONS WILL BE VOID AB INITIO AND THE PURPORTED TRANSFEROR WILL CONTINUE TO BE TREATED AS THE OWNER OF THE NOTES FOR ALL PURPOSES. 

EACH PURCHASER OR TRANSFEREE OF A BENEFICIAL INTEREST IN THIS NOTE SHALL BE DEEMED TO REPRESENT THAT IT IS NOT, AND IS NOT ACTING ON BEHALF OF
OR INVESTING THE ASSETS OF, (A) AN “EMPLOYEE BENEFIT PLAN” (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”)) THAT IS SUBJECT TO THE FIDUCIARY RESPONSIBILITY
PROVISIONS OF TITLE I OF ERISA, (B) A “PLAN” (WITHIN THE MEANING OF SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”)) THAT IS SUBJECT TO SECTION 4975 OF THE CODE, (C) ANY ENTITY
WHOSE UNDERLYING ASSETS ARE DEEMED TO BE ASSETS OF AN EMPLOYEE BENEFIT PLAN OR PLAN DESCRIBED IN (A) OR (B) BY REASON OF SUCH EMPLOYEE BENEFIT PLAN’S OR PLAN’S INVESTMENT IN THE ENTITY (COLLECTIVELY, A “BENEFIT PLAN
INVESTOR”) OR (D) AN EMPLOYEE BENEFIT PLAN, A PLAN OR OTHER SIMILAR ARRANGEMENT THAT IS NOT A BENEFIT PLAN INVESTOR BUT IS SUBJECT TO FEDERAL, STATE, LOCAL, NON-U.S. OR OTHER LAWS OR REGULATIONS THAT ARE SUBSTANTIALLY SIMILAR TO
SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE. 
 THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY,
THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. 

  
 E-2 

 AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1 

CLASS E 3.54% ASSET BACKED NOTE 

AmeriCredit Automobile Receivables Trust 2015-1, a statutory trust organized and existing under the laws of the State of Delaware (herein
referred to as the “Issuer”), for value received, hereby promises to pay to CEDE & CO., or registered assigns, the principal sum of TWENTY-FOUR MILLION FOUR HUNDRED FOURTY THOUSAND DOLLARS payable on each Distribution Date
in an amount equal to the result obtained by multiplying (i) a fraction the numerator of which is $24,440,000 and the denominator of which is $24,440,000 by (ii) the aggregate amount, if any, payable from the Note Distribution Account and
Collection Account in respect of principal on the Class E Notes pursuant to the Indenture; provided, however, that the entire unpaid principal amount of this Note shall be due and payable on the June 8, 2022 Distribution Date (the
“Final Scheduled Distribution Date”). The Issuer will pay interest on this Note at the rate per annum shown above on each Distribution Date until the principal of this Note is paid or made available for payment. Interest on this
Note will accrue for each Distribution Date from the most recent Distribution Date on which interest has been paid to but excluding such Distribution Date or, if no interest has yet been paid, from January 22, 2015. Interest will be computed on
the basis of a 360-day year consisting of twelve 30-day months. Such principal of and interest on this Note shall be paid in the manner specified on the reverse hereof. 

The principal of and interest on this Note are payable in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. All payments made by the Issuer with respect to this Note shall be applied first to interest due and payable on this Note as provided above and then to the unpaid principal of this Note. 

Reference is made to the further provisions of this Note set forth on the reverse hereof, which shall have the same effect as though fully set
forth on the face of this Note. 
 Unless the certificate of authentication hereon has been executed by the Trustee whose name appears below
by manual signature, this Note shall not be entitled to any benefit under the Indenture referred to on the reverse hereof, or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Issuer has caused this instrument to be signed, manually or in facsimile,
by its Authorized Officer as of the date set forth below. 
  

			
	AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2015-1
		
	by	 	
	
	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee under the Trust Agreement
		
	by	 	  

 
			
	 Name:
	 	
	 Title:
	 	

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes designated above and referred to in the within-mentioned Indenture. 

 

					
	 Date: January 22, 2015
	 	THE BANK OF NEW YORK MELLON, not in its individual capacity but solely as Trustee
			
		 	by	 	  

		 	Authorized Signer

  
 E-2 

 [REVERSE OF NOTE] 

This Note is one of a duly authorized issue of Notes of the Issuer, designated as its Class E 3.54% Asset Backed Notes (herein called the
“Class E Notes”), all issued under an Indenture dated as of January 13, 2015 (such indenture, as supplemented or amended, is herein called the “Indenture”), between the Issuer and The Bank of New York Mellon,
as trustee (the “Trustee,” which term includes any successor Trustee under the Indenture) and as trust collateral agent (the “Trust Collateral Agent”), which term includes any successor Trust Collateral Agent) to
which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Trustee and the Holders of the Notes. The Notes are subject to all terms of the
Indenture. All terms used in this Note that are defined in the Indenture, as supplemented or amended, shall have the meanings assigned to them in or pursuant to the Indenture, as so supplemented or amended. 

The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes, the Class C Notes, the Class D Notes and the
Class E Notes (together, the “Notes”) are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture. 

Principal of the Class E Notes will be payable on each Distribution Date in an amount described on the face hereof. “Distribution
Date” means the eighth day of each month, or, if any such date is not a Business Day, the next succeeding Business Day, commencing February 9, 2015. If AmeriCredit is no longer acting as Servicer, the distribution date may be a
different day of the month. The term “Distribution Date,” shall be deemed to include the Final Scheduled Distribution Date. 

As described above, the entire unpaid principal amount of this Note shall be due and payable on the earlier of the Final Scheduled
Distribution Date and the Redemption Date, if any, pursuant to the Indenture. As described above, a portion of the unpaid principal balance of this Note shall be due and payable on the Redemption Date, if any. Notwithstanding the foregoing, the
entire unpaid principal amount of the Notes shall be due and payable on the date on which an Event of Default shall have occurred and be continuing and the Majority Noteholders have declared the Notes to be immediately due and payable in the manner
provided in the Indenture. All principal payments on the Class E Notes shall be made pro rata to the Class E Noteholders entitled thereto. 

Payments of interest on this Note due and payable on each Distribution Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be made by check mailed to the Person whose name appears as the Holder of this Note (or one or more Predecessor Notes) on the Note Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payments will be made by wire transfer in immediately available funds to the account designated by
such nominee. Such checks shall be mailed to the Person entitled thereto at the address of such Person as it appears on the Note Register as of the applicable Record Date without requiring that this Note be submitted for notation of payment. Any
reduction in the principal amount of this Note (or any one or more Predecessor Notes) effected by any payments made on any Distribution Date shall 

  
 E-3 

 
be binding upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. If funds are
expected to be available, as provided in the Indenture, for payment in full of the then remaining unpaid principal amount of this Note on a Distribution Date, then the Trustee, in the name of and on behalf of the Issuer, will notify the Person who
was the Holder hereof as of the Record Date preceding such Distribution Date by notice mailed prior to such Distribution Date and the amount then due and payable shall be payable only upon presentation and surrender of this Note at the
Trustee’s principal Corporate Trust Office or at the office of the Trustee’s agent appointed for such purposes located in Dallas, Texas. 

The Issuer shall pay interest on overdue installments of interest at the Class E Interest Rate to the extent lawful. 

As provided in the Indenture and subject to certain limitations set forth therein, the transfer of this Note may be registered on the Note
Register upon surrender of this Note for registration of transfer at the office or agency designated by the Issuer pursuant to the Indenture, (i) duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Trustee duly executed by, the Holder hereof or his attorney duly authorized in writing, with such signature guaranteed by an “eligible guarantor institution” meeting the requirements of the Note Registrar which requirements include
membership or participation in Securities Transfer Agents Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and (ii) accompanied by such other documents as the Trustee may require, and thereupon one or more new Notes of authorized denominations and in the same aggregate principal amount will be issued to the
designated transferee or transferees. No service charge will be charged for any registration of transfer or exchange of this Note, but the transferor may be required to pay a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection with any such registration of transfer or exchange. 
 If this Note has been issued as a Definitive Note, the Note
Registrar shall not register the transfer of this Note unless the prospective transferee has represented and warranted in writing it is not a Benefit Plan Entity. If this Note has been issued as a Book Entry Note, each transferee of this Note or any
beneficial interest herein shall be deemed to represent that it is not a Benefit Plan Entity. 
 Each Noteholder or Note Owner, by
acceptance of a Note or, in the case of a Note Owner, a beneficial interest in a Note covenants and agrees (i) that no recourse may be taken, directly or indirectly, with respect to the obligations of the Issuer, the Owner Trustee, the Trust
Collateral Agent or the Trustee on the Notes or under the Indenture or any certificate or other writing delivered in connection therewith, against (a) the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner Trustee in its
individual capacity, (b) any owner of a beneficial interest in the Issuer or (c) any partner, owner, beneficiary, agent, officer, director or employee of the Seller, the Servicer, the Trustee, the Trust Collateral Agent or the Owner
Trustee in its individual capacity, any holder of a beneficial interest in the Issuer, the Seller, the Servicer, the Owner Trustee, the Trust Collateral Agent or the Trustee or of any successor or assign of the Seller, the Servicer, the Trustee, the
Trust Collateral Agent or the Owner Trustee in its individual capacity, except as any such Person may have expressly agreed (it being 

  
 E-4 

 
understood that the Trustee, the Trust Collateral Agent and the Owner Trustee have no such obligations in their individual capacity) and except that any such partner, owner or beneficiary shall
be fully liable, to the extent provided by applicable law, for any unpaid consideration for stock, unpaid capital contribution or failure to pay any installment or call owing to such entity, and (ii) to treat the Notes that are owned or
beneficially owned by a Person other than AFS SenSub Corp., or its Affiliates, as indebtedness for purposes of federal income, state and local income and franchise and any other income taxes. 

Prior to the due presentment for registration of transfer of this Note, the Issuer, the Trust Collateral Agent and the Trustee and any agent
of the Issuer, the Trust Collateral Agent or the Trustee may treat the Person in whose name this Note (as of the day of determination or as of such other date as may be specified in the Indenture) is registered as the owner hereof for all purposes,
whether or not this Note be overdue, and neither the Issuer, the Trust Collateral Agent, the Trustee nor any such agent shall be affected by notice to the contrary. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Issuer and the rights of the Holders of the Notes under the Indenture at any time by the Issuer with the consent of the Majority Noteholders. The Indenture also contains provisions permitting the Noteholders representing specified percentages
of the Outstanding Amount of the Notes, on behalf of the Holders of all the Notes, to waive compliance by the Issuer with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Note (or any one of more Predecessor Notes) shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof
or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. The Indenture also permits the Trustee to amend or waive certain terms and conditions set forth in the Indenture without the consent of Holders of the Notes
issued thereunder. 
 The term “Issuer” as used in this Note includes any successor to the Issuer under the Indenture. 

The Issuer is permitted by the Indenture, under certain circumstances, to merge or consolidate, subject to the rights of the Trustee and the
Noteholders under the Indenture. 
 The Notes are issuable only in registered form in denominations as provided in the Indenture, subject to
certain limitations therein set forth. 
 This Note and the Indenture shall be construed in accordance with the laws of the State of New
York, without reference to its conflict of law provisions, and the obligations, rights and remedies of the parties hereunder and thereunder shall be determined in accordance with such laws. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Issuer,
which is absolute and unconditional, to pay the principal of and interest on this Note at the times, place, and rate, and in the coin or currency herein prescribed. 

  
 E-5 

 Anything herein to the contrary notwithstanding, except as expressly provided in the
Indenture or the Basic Documents, neither Wilmington Trust Company in its individual capacity, any owner of a beneficial interest in the Issuer, nor any of their respective partners, beneficiaries, agents, officers, directors, employees or
successors or assigns shall be personally liable for, nor shall recourse be had to any of them for, the payment of principal of or interest on, or performance of, or omission to perform, any of the covenants, obligations or indemnifications
contained in this Note or the Indenture, it being expressly understood that said covenants, obligations and indemnifications have been made by the Issuer for the sole purposes of binding the Issuer. The Holder of this Note by the acceptance hereof
agrees that except as expressly provided in the Indenture or the Basic Documents, in the case of an Event of Default under the Indenture, the Holder shall have no claim against any of the foregoing for any deficiency, loss or claim therefrom;
provided, however, that nothing contained herein shall be taken to prevent recourse to, and enforcement against, the assets of the Issuer for any and all liabilities, obligations and undertakings contained in the Indenture or in this Note.

  
 E-6 

 ASSIGNMENT 

Social Security or taxpayer I.D. or other identifying number of assignee 
  

			
	 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
                                         
                           

	
                         
                                         
                                         
                                         
(name and address of assignee)

 the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints, attorney, to transfer said Note on
the books kept for registration thereof, with full power of substitution in the premises. 
  

			
	
Dated                        
                                         
                                         
         1
	  	  

		  	Signature Guaranteed:
		
	  
	  	  

  
 1 NOTE: The signature to this assignment must correspond with the name of the registered owner as it appears on the face of the within Note in every particular, without alteration, enlargement or any
change whatsoever. 

  
 E-7 

 SCHEDULE A 

REPRESENTATIONS AND WARRANTIES OF THE ISSUER 

Representations and Warranties Regarding the Receivables: 

1. Security Interest in Financed Vehicle. This Indenture creates a valid and continuing Security Interest (as defined in the applicable
UCC) in the Receivables in favor of the Trust Collateral Agent, which Security Interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Seller. The Issuer owns and has good and marketable title
to the Receivables free and clear of any Lien (other than the Lien in favor of the Trust Collateral Agent), claim or encumbrance of any Person. 

2. Perfection of Security Interest. Each Receivable is secured by a first priority validly perfected security interest in the related
Financed Vehicle in favor of the Trust Collateral Agent, for the benefit of the Issuer Secured Party or all necessary actions with respect to such Receivable have been taken or will be taken to perfect a first priority security interest in the
related Financed Vehicle in favor of the Trust Collateral Agent, for the benefit of the Issuer Secured Party. 
 3. All Filings Made.
The Issuer has taken all steps necessary to perfect the Trust Collateral Agent’s security interest in the property securing the Receivables, provided that, if not done as of the Closing Date, the Issuer will cause, within ten days of the
Closing Date, the filing of all appropriate financing statements in the proper filing office in the State of Delaware under applicable law in order to perfect the security interest in the Receivables granted to the Trust Collateral Agent hereunder.
All financing statements filed or to be filed against the Issuer in favor of the Trust Collateral Agent in connection herewith describing the Receivables contain a statement to the following effect: “A purchase of or a security interest in any
collateral described in this financing statement will violate the rights of the Trust Collateral Agent.” 
 4. No Impairment. The
Issuer has not done anything to convey any right to any Person that would result in such Person having a right to payments due under the Receivable or otherwise to impair the rights of the Trustee, the Trust Collateral Agent and the Noteholders in
any Receivable or the proceeds thereof. Other than the security interest granted to the Trust Collateral Agent pursuant to this Indenture, the Issuer has not pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the
Receivables. The Issuer has not authorized the filing of and is not aware of any financing statements against the Issuer that include a description of collateral covering the Receivables other than any financing statement relating to the security
interest granted to the Trust Collateral Agent hereunder or that has been terminated. The Issuer is not aware of any judgment, ERISA or tax lien filings against it. 

  
 Sch.A-1 

 5. Chattel Paper. The Receivables constitute “tangible chattel paper” or
“electronic chattel paper” within the meaning of the UCC as in effect in the States of Texas, New York, Nevada and Delaware. 
 6.
Good Title. Immediately prior to the pledge of the Receivables to the Trust Collateral Agent pursuant to this Indenture, the Issuer was the sole owner thereof and had good and indefeasible title thereto, free of any Lien and, upon execution
and delivery of this Indenture, the Trust shall have good and indefeasible title to and will be the sole owner of such Receivables, free of any Lien. No Dealer has a participation in, or other right to receive, proceeds of any Receivable. The Issuer
has not taken any action to convey any right to any Person that would result in such Person having a right to payments received under the related Insurance Policies or the related Dealer Agreements, Dealer Assignments or to payments due under such
Receivables. 
 7. Possession of Original Copy. The Servicer, as Custodian on behalf of the Issuer, has in its possession or control
the original contract (or with respect to “electronic chattel paper”, the authoritative copy) that constitutes or evidences the Receivable. 

8. One Original. There is only one original executed copy (or with respect to “electronic chattel paper”, one authoritative
copy) of each Contract. With respect to Contracts that are “electronic chattel paper”, each authoritative copy (a) is unique, identifiable and unalterable (other than with the participation of the Trust Collateral Agent in the case of
an addition or amendment of an identified assignee and other than a revision that is readily identifiable as an authorized or unauthorized revision), (b) has been marked with a legend to the following effect: “Authoritative Copy” and
(c) has been communicated to and is maintained by or on behalf of the Custodian. 
 9. Not an Authoritative Copy. With respect to
Contracts that are “electronic chattel paper”, the Seller has marked all copies of each such Contract other than an authoritative copy with a legend to the following effect: “This is not an authoritative copy.” 

10. Revisions. With respect to Contracts that are “electronic chattel paper”, the related Receivables have been established in
a manner such that (a) all copies or revisions that add or change an identified assignee of the authoritative copy of each such Contract must be made with the participation of the Trust Collateral Agent and (b) all revisions of the
authoritative copy of each such Contract must be readily identifiable as an authorized or unauthorized revision. 
 11. Pledge or
Assignment. With respect to Contracts that are “electronic chattel paper”, the authoritative copy of each Contract communicated to the Custodian has no marks or notations indicating that it has been pledged, assigned or otherwise
conveyed to any Person other than the Trust Collateral Agent. 

  
 Sch.A-2

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