Document:

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT
AGREEMENT, dated _________5/1/2020__,2020
(the “Agreement”), by and between AdaptHealth Corp., a Delaware corporation (the “Company”),
and Jason Clemens (the “Employee”).

 

WHEREAS,
the Company desires to employ the Employee and the Employee desires to accept such employment, in each case upon the terms
and conditions contained herein;

 

NOW
THEREFORE, in consideration of the promises and the mutual agreements made herein, the Company and the Employee, intending
to be legally bound hereby, agree as follows:

 

1.       Employment;
Duties. The Company shall engage the Employee to serve as Chief Financial Officer, reporting to Chief Executive Officer
of the Company. Employee hereby agrees to serve in such capacity, during the “Employment Period” as
defined in Section 2. The Employee agrees that during the Employment Period, he shall give his best effort, skill and
abilities to promote the business and interests of the Company as reasonably directed by the Company (acting for all purposes
of this Agreement through its specifically identified designee). The Employee agrees to faithfully and diligently perform
such reasonable duties, commensurate with the Employee’s position and work time commitment, as may from time to time be
assigned to the Employee by the Company.

 

Employee
represents to the Company that he is not subject or a party to any employment agreement, non-competition covenant,
non-disclosure agreement or other agreement, covenant, understanding or restriction of any nature whatsoever which would be
breached by Employee’s execution of this Agreement and/or his performance of his duties and responsibilities hereunder,
or which would in any manner, directly or indirectly, limit or affect the duties and responsibilities which may now or in the
future be assigned to Employee by the Company.

 

2.       Employment
Period. This Agreement shall be effective commencing on ___________, 2020 (the “Effective Date”),
which Effective Date shall be no later than August 15, 2020. The Employee acknowledges and agrees that this Agreement is not
intended to create any contractual rights or obligations concerning the Employee’s employment, other than those
contained herein. The Employee will be employed on an “at-will” basis, meaning that either the Employee or the
Company may terminate this Agreement at any time in accordance with the provisions of Section 7 and Section 8.
The time beginning on the Effective Date and ending on the date of termination of this agreement in accordance with Section
7 or Section 8 is referred to as the “Employment

Period.”

 

3.       Compensation.

 

(a)       Base
Compensation. The Employee shall be paid a base salary of not less than Four Hundred Twenty-Five Thousand ($425,000) per
year, less any applicable statutory and regulatory deductions (the “Base Salary”), and such minimum Base
Salary will stay in effect for the Employment Period. The Base Salary will be reviewed at least annually and may be increased
in accordance with the Company’s regular compensation policies and practices.

 

     

     

    

 

(b)       Benefits.
The Employee shall, during the Employment Period, be entitled to participate in such employee benefit plans of the Company (which
currently include life insurance, health and dental insurance, short term and long term disability, and 401(k) or other retirement
plan(s)) as are generally made available to the executive level employees of the Company from time to time, to the extent the
Employee is eligible under the terms of such plans.

 

(c)       Expense
Reimbursement. The Employee shall be entitled to reimbursement of reasonable out-of-pocket expenses incurred in
connection with travel and matters related to the Company’s business and affairs if made in accordance with written
Company policy as in effect from time to time as determined by the Company. Such written Company policy and any updates shall
be provided to Employee. This amount is not to exceed Three Thousand Dollars ($3,000) for any single thirty (30) day period
without advance Company approval. The Employee shall also be entitled to a car allowance of One Thousand Dollars ($1,000) per
month.

 

(d)       Place
of Employment. The parties agree that the principal place of services to be rendered to the Company by Employee shall be within
fifty (50) miles of the Company’s office located at 220 West Germantown Pike, Plymouth Meeting, PA 19462.

 

(e)       Start
Date Bonus. The Employee shall receive a one-time bonus (the “Start Date Bonus”) of One Hundred Fifty Thousand
Dollars ($150,000) payable within two (2) weeks of the Effective Date; provided, however, that the Employee must return the Start
Date Bonus in its entirety in the event that (i) the Employee terminates this Agreement pursuant to Section 7(g) within
ninety (90) days of the Effective Date or (ii) the Company terminates this Agreement pursuant to Section 7(a) within ninety
(90) days of the Effective Date.

 

(f)       Annual
Bonus. The Employee shall be eligible to receive bonus compensation each year during the Employment Period in accordance with
performance criteria and other terms and conditions as established in writing by the Company from year to year and subject to
Employee’s employment through the date on which such bonus compensation is paid to the Employee. The target amount of the
bonus compensation each year shall be seventy-five percent (75%) of the Employee’s Base Salary then in effect, with the
actual amount of the bonus,if any, to be determined in accordance with the written performance criteria and other terms and conditions
established from year to year. Such bonus compensation shall be paid to the Employee in a single lump sum payment at the same
time as annual bonuses are paid to members of the Company’s senior management.

 

(g)       Commencement
Equity Incentive Grant. The Employee shall receive a long-term incentive opportunity in the form of a number of
restricted Class A shares of AdaptHealth Corp., a Delaware corporation (“AdaptHealth Corp.”) equal to (i)
One Million Dollars ($1,000,000) divided by (ii) the volume weighed average price of the shares of Class A Common Stock of
AdaptHealth Corp. traded on the Nasdaq Capital Market for the twenty (20) trading days ending on the day immediately prior to
the Effective Date (the “LTI Award”). One-third (1/3) of the LTI Award shall vest annually in equal
installments on each of the first three (3) annual anniversaries of the Effective Date, subject to the Employee’s
continued employment, in good standing, with the Company under this Agreement from the Effective Date through the relevant
vesting date. Any portion of the LTI Award that does not vest shall be forfeited to the Company, and the LTI Award shall be
subject to a restricted stock award agreement in the form provided by the Company.

 

    2 

     

    

 

(h)       Annual
Long Term Incentive. Commencing with the next grant of long term equity incentive to members of the Company’s Executive
Officers, and subject to the approval of the Compensation Committee of AdaptHealth Corp., the Employee will be eligible to receive
annual grants of equity-based incentive compensation in the form of restricted Class A Common Stock of Adapt Health Corp. with
a target middle case and high case grant value of Six Hundred Thousand Dollars ($600,000) and One Million Two Hundred Thousand
Dollars ($1,200,000), respectively. Any such grants will be in such form or forms and subject to such terms and conditions as
determined by the Compensation Committee from time to time.

 

(i)       Code
409A Compliance. It is intended that any payment under this Agreement will comply with (or alternatively be exempt from) Section
409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), and this Agreement shall be interpreted
and construed on a basis consistent with such intent. Further, in the event that Section 409A requires that any special terms,
provisions, or conditions be included in this Agreement, then such terms, provisions, and conditions shall, to the extent practicable,
be deemed to be made a part of this Agreement. In no event shall any payment required to be made pursuant to this Agreement that
is considered deferred compensation within the meaning of Section 409A (and is not otherwise exempt from the provisions thereof)
be accelerated or delayed except as permitted by Section 409A. Any payment or installment made under this Agreement and any amount
that is paid as a short-term deferral, within the meaning of Treasury Regulation Section 1.409A-1(b)(4), will each be treated
as separate payments for purposes of Section 409A. For the purposes herein, the phrase “termination of employment”
or similar phrases will be interpreted in accordance with the term “separation from service” as defined under Section
409A if and to the extent required under Section 409A. Any expenses eligible for reimbursement under this Agreement in any calendar
year shall not affect any expenses eligible for reimbursement or in-kind benefits to be provided in any other calendar year. The
Employee’s rights to reimbursement shall not be subject to liquidation or exchange for any other benefit.

 

4.       Trade
Secrets. The Employee agrees that it is in the Company’s legitimate business interest to restrict his disclosure or
use of Trade Secrets and Confidential Information relating to the Company or its Affiliates (as defined below) as provided
herein, and agrees not to disclose or use the Trade Secrets and/or Confidential Information relating to the Company or its
Affiliates for any purpose other than in connection with his performance of his duties to the Company. For purposes of this
Agreement, “Trade Secrets” shall mean all confidential and proprietary information belonging to the
Company (including recorded prospective client lists, ideas, formulas, compositions, inventions (whether patentable or
unpatentable and whether or not reduced to practice), know-how, manufacturing and production processes and techniques,
research and development information, drawings, specifications, designs, plans, proposals, technical data, copyrightable
works, financial and marketing plans and customer and supplier lists and information). For purposes of this Agreement,
 “Confidential Information” shall mean all information other than Trade Secrets belonging to, used by, or
which is in the possession of the Company and relating to the Company’s business or assets specifically including, but
not limited to, information relating to the Company’s products, services, strategies, pricing, customers,
representatives, suppliers, distributors, technology, finances, employee compensation, computer software and hardware,
inventions, developments, in each case to the extent that such information is not required to be disclosed by applicable law
or compelled to be disclosed by any governmental authority. Notwithstanding the foregoing, the terms “Trade
Secrets” and “Confidential Information” do not include information that (i) is or becomes
generally available to or known by the public (other than as a result of a disclosure by the Employee), provided, that
the source of such information is not known by the Employee to be bound by a confidentiality agreement with the Company; or
(ii) is independently developed by the Employee without violating this Agreement. Nothing in this Agreement prohibits the
Employee from reporting possible violations of federal laws or regulations to any governmental agency or entity, or making
other disclosures protected under the whistleblower provisions of federal law or regulation. The Employee does not need the
prior authorization of the Company to make any such reports or disclosures, and the Employee is not required to notify the
Company that he/she has made such reports or disclosures.

 

    3 

     

    

 

5.       Return
of Documents and Property. Upon the expiration or termination of the Employee’s employment with the Company, or at
any time upon the reasonable request of the Company, the Employee (or his heirs or personal representatives) shall deliver to
the Company (a) all documents and materials (including, without limitation, computer files) containing Trade Secrets and
Confidential Information relating to the business and affairs of the Company or its Affiliates, and (b) all documents,
materials, equipment and other property (including, without limitation, computer files, computer programs, computer operating
systems, computers, printers, scanners, pagers, telephones, credit cards and ID cards) belonging to the Company or its
Affiliates, which in either case are in the possession or under the control of the Employee (or his heirs or personal
representatives). Notwithstanding the forgoing, Employee shall have the option of purchasing any Company owned mobile phone
or mobile devices and/or computers/printers for their fair market value.

 

6.       Discoveries
and Works. All Discoveries and Works made or conceived by the Employee during his employment by the Company, solely,
jointly or with others, that relate to the Company’s present or anticipated activities, or are used or useable by the
Company shall be owned by the Company. For the purposes of this Section 6, (including the definition of
 “Discoveries and Works”) the term “Company” shall include the Company and its
Affiliates. The term “Discoveries and Works” includes, by way of example but without limitation, Trade
Secrets and other Confidential Information, patents and patent applications, service marks, and service mark registrations
and applications, trade names, copyrights and copyright registrations and applications. The Employee shall (a) promptly
notify, make full disclosure to, and execute and deliver any documents requested by the Company, as the case may be, to
evidence or better assure title to Discoveries and Works in the Company, as so requested, (b) renounce any and all claims,
including but not limited to claims of ownership and royalty, with respect to all Discoveries and Works and all other
property owned or licensed by the Company, (c) assist the Company in obtaining or maintaining for itself at its own expense
United States and foreign patents, copyrights, trade secret protection or other protection of any and all Discoveries and
Works, and (d) promptly execute, whether during his employment with the Company or thereafter, all applications or other
endorsements necessary or appropriate to maintain patents and other rights for the Company and to protect the title of the
Company thereto, including but not limited to assignments of such patents and other rights. Any Discoveries and Works which,
within one year after the expiration or termination of the Employee’s employment with the Company, are made, disclosed,
reduced to tangible or written form or description, or are reduced to practice by the Employee and which pertain to the business carried on or products or services
being sold or delivered by the Company at the time of such termination shall, as between the Employee and, the Company, be
presumed to have been made during the Employee’s employment by the Company. The Employee acknowledges that all
Discoveries and Works shall be deemed “works made for hire” under the U.S. Copyright Act of 1976, as
amended 17 U.S.C. Sect. 101.

 

    4 

     

    

 

 

7.      Termination.

 

(a)       Termination
by the Company. The Company may terminate the Employee’s employment under this Agreement with Cause at any time
during the Employment Period effective immediately upon giving written notice of termination to the Employee. For purposes of
this Agreement, “Cause” shall mean, with respect to the Employee, (i) your act(s) of gross negligence or
willful misconduct in the course of your employment, (ii) failure or refusal by you to perform in any material respect your
duties or responsibilities, (iii) misappropriation (or attempted misappropriation) by you of any assets or business
opportunities of the Company, together with any direct or indirect subsidiaries of the Company (the “Company
Group”), (iv) theft, embezzlement or fraud committed (or attempted) by you, at your direction, or with your prior
actual knowledge, (v) your conviction of or pleading “guilty” or “no contest” to, (x) a felony or (y)
any other criminal charge that has, or could be reasonably expected to have, an adverse impact on the performance of your
duties to the Company or any other member of the Company Group or otherwise result in injury to the reputation or business of
the Company or any other member of the Company Group, (vi) any material violation by you of the policies of the Company or
any other member of the Company Group including but not limited to those relating to sexual harassment or business conduct,
and those otherwise set forth in the manuals or statements of policy of the Company or any other member of the Company Group,
(vii) your breach of any restrictive covenant agreement between you and any member of the Company Group, (viii) any act or
omission to act by you intended to harm or damage the business, property, operations, financial condition or reputation of
the Company or any other member of the Company Group, (ix) your failure to cooperate, if requested by the Company, with any
investigation or inquiry into your or the Company Group’s business practices, whether internal or external, including,
but not limited to, your refusal to be deposed or to provide testimony or evidence at any trial, proceeding or inquiry, or
(x) any chemical dependence by you which adversely affects the performance of your duties and responsibilities to the Company
or any other member of the Company Group. If, within ninety (90) days subsequent to your termination for any reason other
than by the Company for Cause, the Company determines that your employment could have been terminated for Cause pursuant to
clauses (iii), (iv), or (v) of the definition thereof, your employment will be deemed to have been terminated for Cause for
all purposes, and you will be required to disgorge to the Company all amounts received pursuant to this letter or otherwise
on account of such termination that would not have been payable to you (or that you would have been required to repay) had
such termination been by the Company for Cause.

 

 

(b)       Effect
of Termination by Company for Cause or Termination by Employee without Good Reason. In the event the Employee’s
employment under this Agreement is terminated for Cause by the Company as provided in Section 7(a), or in the event
that this Agreement is terminated by the Employee without Good Reason pursuant to Section 7(g), then the Employee will
be entitled to (i) Base Salary through the effective date of termination, (ii) any earned but unpaid bonus compensation,
which shall be paid in the normal course for such bonuses as provided in Section 3(e), (iii) any accrued but unused
paid annual leave or other paid time off, (iv) any unreimbursed business expenses in accordance with the Company’s
policies for which expenses the Employee provides appropriate documentation, and (v) any accrued benefits to which the
Employee is then entitled under the terms of the benefit plans (other than severance) then sponsored by the Company in
accordance with the terms and conditions of such plans (collectively, subparts (i) through (v) of this Section 7(b)
shall be referred to as the “Accrued Benefits”). Except for the Accrued Benefits, Employee’s rights
and the Company’s obligations hereunder shall cease as of the effective date of the termination including, without
limitation, with respect to the right to receive Base Salary not yet accrued and all other compensation or benefits provided
for in this Agreement, and the Employee shall not be entitled to any further compensation or severance compensation of any
kind. Except for the Accrued Benefits, the Employee shall have no further right or claim to any compensation, benefits or
severance compensation under this Agreement or otherwise against the Company or its Affiliates, from and after the date of
such termination by the Company for Cause or by the Employee without Good Reason, except as required by applicable law. Any
termination under this Section 7 is subject to the provisions of Section 17 hereof.

 

    5 

     

    

 

(c)       Effect
of Termination by Company without Cause . Except as otherwise provided herein, on or after the ninetieth day anniversary
of the Effective Date, in the event this Agreement is terminated without Cause by the Company pursuant to this Section
7(c), the Company shall (i) continue the payment of Base Salary to the Employee, as well as provide all other benefits as
described in Sections 3(b) and (c) hereof, for twelve (12) months, and (ii) pay the Employee a yearly bonus for
the year of such termination equal to the target amount of the Employee’s yearly bonus for such year, pro-rated for the
number of days the Employee was employed with the Company during such year of termination and paid at the same time as the
yearly bonuses for such year is otherwise paid to the Company’s senior management. In addition, in the event this
Agreement is terminated without Cause by the Company pursuant to this Section 7(c), the Company shall pay the Employee
the Accrued Benefits.

 

(d)       Relinquishment
of Authority. Notwithstanding anything to the contrary set forth herein, upon written notice to the Employee, the Company
may immediately relieve the Employee of all his duties and responsibilities hereunder and may relieve the Employee of
authority to act on behalf of, or legally bind, the Company; provided, however, that no such action taken by the Company
under this Section 7(d) shall relieve the Company of its obligation to continue the payment of Base Salary to the
Employee, as well as provide all other benefits as described in Sections 3(b) and (c) hereof, through the
remainder of the Employment Period. For the avoidance of doubt, if the Employee’s employment under this Agreement is
terminated under the circumstances set forth in Section 7(c) or Section 7(f), the Employee will become entitled
to the severance benefits therein set forth.

 

(e)       Termination by Employee. The Employee may terminate the Employee’s employment under this Agreement for “Good
Reason” in accordance with the “Good Reason Process.” For purposes hereof, the term “Good Reason”
means, unless approved by the Employee, (i) a breach by the Company of any material provision hereof, (ii) any reduction in the
Employee’s Base Salary, (iii) any material diminution of or material adverse alteration of the Employee’s position
or authority as of the Effective Date (including in connection with or following a sale of, or other change in control transaction
with respect to, the Company); or (iv) a relocation of the Employee’s principal work location to more than fifty (50) miles
from his principal work location as set forth in Section 3(d) hereof. “Good Reason Process” means the
following series of actions: (i) the Employee reasonably determines in good faith that Good Reason exists, (ii) the Employee notifies
the Company in writing of the existence of Good Reason within sixty (60) days of the occurrence of the event that gave rise to
the existence of Good Reason, (iii) the Employee cooperates in good faith with the Company’s efforts to remedy the conditions
that gave rise to the existence of Good Reason for a period of sixty (60) days following such notice (such 60-day period, the
 “Cure Period”), (iv) notwithstanding such efforts, Good Reason continues to exist and (v) the Employee terminates
his employment within thirty (30) days after the end of the Cure Period. For the avoidance of doubt, if the Company successfully
remedies the conditions that gave rise to the existence of Good Reason during the Cure Period, Good Reason shall be deemed not
to have existed.

 

    6 

     

    

 

(f)        Effect
of Termination by Employee for Good Reason. In the event the Employee terminates this Agreement for Good Reason, the
Company shall (i) continue the payment of Base Salary to the Employee, as well as provide all other benefits as described in Sections
3(b) and (c) hereof, for twelve (12) months, and (ii) pay the Employee a yearly bonus for the year of such
termination equal to the target amount of the Employee’s yearly bonus for such year, pro-rated for the number of days
the Employee was employed with the Company during such year of termination and paid at the same time as the yearly bonuses
for such year is otherwise paid to the Company’s senior management. In addition, in the event the Employee terminates
this Agreement for Good Reason, the Company shall pay the Employee the Accrued Benefits.

 

(g)       Termination
by Employee Without Good Reason. The Employee may terminate employment under this Agreement without Good Reason at any
time upon thirty (30) days’ prior written notice. Upon termination under this Section 7(g), then the Employee
will be entitled to Accrued Benefits. Except for the Accrued Benefits, the Employee’s rights and the Company’s
obligations hereunder shall cease as of the effective date of the termination, including, without limitation, with respect to
the right to receive Base Salary not yet accrued and all other compensation or benefits provided for in this Agreement, and
the Employee shall not be entitled to any further compensation or severance compensation of any kind.

 

(h)       Severance
Pay and Benefits. The severance pay and benefits provided in Section 7(c) and Section 7(f) are contingent
on the Employee entering into and letting become irrevocable a binding separation agreement and release, in a form acceptable
to the Company. So long as the Employee signs and lets become irrevocable such separation agreement and release within the
first sixty (60) days following the date of the Employee’s termination of employment (the “Release
Deadline”), the Company will pay any cash severance in accordance with Company’s normal payroll practices
commencing on the date of the first regular payroll day of the Company that occurs at least seven (7) business days following
the Release Deadline, and any cash severance otherwise payable prior to such first regular payroll day will be paid to the
Employee on such first regular payroll day.

 

    7 

     

    

 

8.     Disability:
Death.

 

(a)       If,
prior to the expiration of any applicable Employment Period, the Employee shall be unable to perform his duties hereunder by
reason of physical or mental disability for at least one hundred twenty (120) consecutive calendar days, the Company shall
have the right, subject to all applicable laws regarding disability and accommodations of disability, to terminate the
Employee’s employment under this Agreement and the remainder of the Employment Period by giving written notice to the
Employee to that effect. Immediately upon the giving of such notice, the Employment Period shall terminate.

 

(b)       Upon termination of the Employee’s employment under this Agreement pursuant to Section 8(a), the Employee shall
be entitled to the Accrued Benefits. Except for the Accrued Benefits, all other compensation and benefits provided under this Agreement
shall cease upon termination pursuant to Section 8(a), except as otherwise required by applicable law.

 

(c)       In the event of a dispute as to whether the Employee is disabled within the meaning of Section 8(a), either party
may from time to time request a medical examination of the Employee by a doctor appointed by the chief of staff of a hospital selected
by mutual agreement of the parties, or as the parties may otherwise agree, and the written medical opinion of such doctor shall
be conclusive and binding upon the parties as to whether the Employee has become disabled and the date when such disability arose.
The cost of any such medical examination shall be borne by the requesting party.

 

(d)       If,
prior to the expiration of the Employment Period or the termination of the Employee’s employment under this Agreement,
the Employee shall die, the Employee’s estate shall be entitled to the Accrued Benefits. Except for the Accrued
Benefits, upon the death of the Employee, the Employment Period shall terminate without further notice and the Company shall
have no further obligations hereunder, including, without limitation, obligations with respect to compensation and benefits
provided for in Section 3 of this Agreement, other than as required by law. Any termination under this Section
8 is subject to the provisions of Section 17 hereof

 

9.       No
Conflicts. The Employee has represented and hereby represents to the Company and its Affiliates that the execution,
delivery and performance by the Employee of this Agreement do not conflict with or result in a violation or breach of, or
constitute (with or without notice or lapse of time or both) a default under any contract, agreement or understanding,
whether oral or written, to which the Employee is a party or of which the Employee is or should be aware and that there are
no restrictions, covenants, agreements or limitations on his right or ability to enter into and perform the terms of this
Agreement, and agrees to indemnify and hold harmless the Company and its affiliates from any liability, cost or expense,
including attorney’s fees, based upon or arising out of any such restrictions, covenants, agreements, or limitations
that may be found to exist. For purposes of this Agreement, “Affiliate” shall include any subsidiary in
the case of the Company, and any person or entity directly or indirectly controlled by or controlling the Company.

 

10.       Non-Competition.
The Employee hereby agrees that, during the Employment Period and for a period of one (1) year thereafter (the
 “Restricted Period”), the Employee will not, directly or by assisting others, within seventy-five (75)
miles of the Employee’s current place of employment and, regardless of distance, in any corporate office of a national
company or enterprise engaged in the durable medical equipment business, (a) contact, solicit or attempt to solicit any
person or entity who is a customer or supplier of the Company as of Employee’s termination date, for purposes of
providing products or services that are competitive with the products or services offered by the Company on the
Employee’s termination date, (b) provide to any such customer any products or services that are competitive with the
products or services offered by the Company on the
Employee’s termination date, or (c) otherwise interfere with the relationship between any such customer or supplier and
the Company or its Affiliates.

 

    8 

     

    

 

 

11.      Non-Solicitation.
The Employee hereby agrees that, during the Restricted Period and except as agreed to in writing by the Company, the Employee
will not (on behalf of the Employee or any other person or entity), directly or by assisting others, hire or solicit or
attempt to hire or solicit, any person who was an employee of the Company on the Employee’s termination date (a
 “Restricted Employee”), it being understood that this Section 11 shall not restrict the Employee
from placing notices of general solicitation of employment; and provided further, that nothing in this Section 11
shall prevent the Employee from soliciting any Restricted Employee after the longer of (i) one year from the date of
termination of such employee’s employment by the Company or its Affiliates and (ii) one year from the date on which the
Employee ceases to provide any paid work or services to the Company or its Affiliates.

 

12.      Enforcement. The Employee agrees that any breach of the provisions of this Agreement would cause substantial and
irreparable harm, not readily ascertainable or compensable in terms of money, to the Company for which remedies at law would be
inadequate and that, in addition to any other remedy to which the Company may be entitled hereunder, and notwithstanding the terms
of Section 18 hereof, the Company shall be entitled to temporary, preliminary and other injunctive relief in the event the
Employee violates the provisions of this Agreement. Nothing herein contained shall be construed as prohibiting the Company from
pursuing, in addition, any other remedies available to the Company for such breach. A waiver by the Company of any breach of any
provision hereof shall not operate or be construed as a waiver of a breach of any other provision of this Agreement or of any subsequent
breach by the Employee.

 

Employee
acknowledges that the restrictions contained in Sections 4, 5, 6, 10 and 11 hereof are reasonable, and that the Company
would not have entered into this Agreement, in the absence of such restrictions, and that any violation of any provision of those
Sections will result in irreparable injury to the Company.

 

EMPLOYEE
FURTHER REPRESENTS AND ACKNOWLEDGES THAT (i) HE HAS BEEN ADVISED BY THE COMPANY TO CONSULT HIS OWN LEGAL COUNSEL IN RESPECT OF
THIS AGREEMENT, (ii) HE HAS HAD FULL OPPORTUNITY, PRIOR TO EXECUTION OF THIS AGREEMENT, TO REVIEW THOROUGHLY THIS AGREEMENT WITH
HIS COUNSEL, AND (iii) HE HAS READ AND FULLY UNDERSTANDS THE TERMS AND PROVISIONS OF THIS AGREEMENT.

 

Employee
agrees that the Company shall be entitled to preliminary and permanent injunctive relief, without the necessity of providing actual
damages, as well as an equitable accounting of all earnings, profits and other benefits arising from any violation of Sections
4, 5, 6, 10, or 11 hereof, which rights shall be cumulative and in addition to any other rights or remedies to which
the Company may be entitled. In the event that any of the provisions of Sections 10 or 11 hereof should ever be adjudicated
to exceed the time, geographic, product or service, or other limitations permitted by applicable law in any jurisdiction, then
such provisions shall be deemed reformed in such jurisdiction to the maximum time, geographic, product or service, or other limitations
permitted by applicable law.

  

    9

     

    

  

13.      Successors
and Assigns. This Agreement shall inure to the benefit of and shall be binding upon (a) the Company, its successors and
assigns, and any company with which the Company may merge or consolidate or to which the Company may sell substantially all
of its assets, and (b) Employee and his executors, administrators, heirs and legal representatives. Since the
Employee’s services are personal and unique in nature, the Employee may not transfer, sell or otherwise assign his
rights, obligations or benefits under this Agreement.

 

14.      Notices. Any notice required or permitted under this Agreement shall be deemed to have been effectively made or given
if in writing and personally delivered, or sent properly addressed in a sealed envelope postage prepaid by certified or registered
mail, or delivered by a reputable overnight delivery service. Unless otherwise changed by notice, notice shall be properly addressed
to the Employee if addressed to the address of record on file with the Company; and properly addressed to the Company if addressed
to:

 

AdaptHealth Corp.

220 West Germantown Pike, Suite 250

Plymouth Meeting,
PA 19462

Attention: Luke McGee 

Telephone: (484) 567-2442 

Email: luke.mcgee@adapthealth.com

 

15.      Severability. It is expressly understood and agreed that although the Company and the Employee consider the restrictions
contained in this Agreement to be reasonable and necessary for the purpose of preserving the goodwill, proprietary rights and
going concern value of the Company, if a final determination is made by arbitration or any court having jurisdiction that any
provision contained in this Agreement is invalid, the provisions of this Agreement shall not be rendered void but shall be deemed
amended to apply as to such maximum time and territory and to such other extent as such arbitral body or court may determine or
indicate to be reasonable. Alternatively, if the arbitral body or court finds that any provision or restriction contained in this
Agreement or any remedy provided herein is unenforceable, and such restriction or remedy cannot be amended so as to make it enforceable,
such finding shall not affect the enforceability of any of the other restrictions contained therein or the availability of any
other remedy. The provisions of this Agreement shall in no respect limit or otherwise affect the Employee’s obligations
under any other agreements with the Company.

 

16.      Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original
but all of which together will constitute one and the same instrument. Signatures hereto may be facsimiles or electronically scanned
copies which shall have the same full force and effect as a manually signed original thereof.

 

17.      Effects of Termination. Notwithstanding anything to the contrary contained herein, if this Agreement is terminated
pursuant to Section 7 or Section 8 or expires by its terms, the provisions of Sections 4 -6 and 10-20
of this Agreement shall survive and continue in full force and effect for the period stated in such Section or for one (1) year
if no period is stated.

 

    10

     

    

 

18.      Governing
Law/Jurisdiction/Mediation. This Agreement shall be governed by the laws of the State of Pennsylvania. The Company and
the Employee consent to the exclusive in personam jurisdiction of the courts of the State of Pennsylvania and the United
States District Court for the Eastern District of Pennsylvania in connection with any claim, dispute, or interpleader action
arising under or in connection with this Agreement, or any other instrument or document delivered hereunder. If any action in
connection with such a claim is commenced against the Company or the Employee in any court, the Company and the Employee also
agree that service of process may be made on the Company and the Employee by certified or registered mail addressed to the
Company and the Employee at their respective addresses specified above. All disputes arising between the parties to this
Agreement, or their respective agents, employees, directors, officers, members, equity owners, heirs, executors,
administrators, legal representatives, successors and assigns, shall be submitted to mandatory mediation prior to the
commencement of any litigation in any court (other than for injunctive relief). Mediation shall be commenced by a party
sending notice of a request for mediation to the other party with the nature of the dispute and the identity of one or more
potential mediators. The other party shall respond within fourteen (14) days of the receipt of the mediation notice,
acknowledging receipt of the mediation request and notice of acceptance of one of the identified potential mediators or
delivery of a list of one or more other potential mediators. Mediation shall be confidential and nothing that occurs, is
exchanged, or is otherwise discussed or said may be used in any subsequent legal proceeding except as provided under
applicable rules of evidence; provided, however, that any evidence previously disclosed or known by a party, or otherwise
discoverable or admissible had the mediation not occurred, and not created solely for the purpose of the mediation, shall not
be rendered confidential, inadmissible or non-discoverable solely as a result of its use in the mediation. Mediation shall be
held in Philadelphia, Pennsylvania. The mediator shall be selected jointly, may not have a conflict of interest that is not
waived by all parties, and shall be paid fifty percent (50%) by the Company and fifty (50%) by the Employee unless otherwise
agreed at the mediation. In the event the parties are unable to agree on a mediator, each party shall select one (1) mediator
and the names shall be submitted to the Company’s accountant in alphabetical order by the Employee (without any
disclosure or indication by either party as to which party proposed the respective mediators), and the accountant shall
select one of such mediators, which decision of the accountant shall be final. The parties agree that any statute of
limitations or similar defense shall be tolled curing the period of the mandatory mediation process hereunder. Mediation
shall be deemed terminated at any time that either the Company or the Employee gives the other party notice that the
mediation is concluded or terminated, or if the mediation is not concluded within one hundred and eighty (180) days of the
date of a party’s request for mediation.

 

19.      Entire Agreement:
Contents of Agreement.

 

(a)
This Agreement supersedes any and all other agreements, either oral or written, between the parties with respect to the
employment of Employee by the Company for the purposes set forth in Section 1 and contains all of the covenants and agreement
between the parties with respect to such employment whatsoever. Each party to this agreement acknowledges that no representation,
inducements, promises or agreements, orally or otherwise, have been made by any party, or anyone acting on behalf of any party,
which are not embodied herein, and that no other agreement, statement, or promise not contained in this agreement shall be valid
or binding. Any modification of this agreement will be effective only if it is in writing and signed by both parties to this agreement.

 

    11

     

    

 

(b)
Employee acknowledges that from time to time, the Company may establish, maintain and distribute employee manuals or handbooks
or personnel policy manuals, and officers or other representatives of the Company may make written or oral statements relating
to personnel policies and procedures. Such manuals, handbooks and statements are intended only for general guidance. No policies,
procedures or statements of any nature by or on behalf of the Company (whether written or oral and whether or not contained in
any employee manual or handbook or personnel policy manual), and no acts or practices of any nature, shall be construed to modify
this Agreement or to create express or implied obligations of any nature to Employee.

 

(c)
Words used herein, regardless of the number and gender specifically used, shall be deemed and construed to include any other
number, singular or plural, and any other gender, masculine, feminine or neuter, as the context indicates is appropriate.

 

20.      Remedies Cumulative: No Waiver: No remedy conferred upon the Company or the Employee by this Agreement is intended
to be exclusive of any other remedy, and each and every such remedy shall be cumulative and shall be in addition to any remedy
given hereunder or now or hereafter existing at law or in equity. No delay or omission by the Company or the Employee in exercising
any right, remedy or power hereunder or existing at law or in equity shall be construed as a waiver thereof, and any such right,
remedy or power may be exercised by the Company or the Employee from time to time and as often as may be deemed expedient or necessary
by the Company or the Employee at its or his sole discretion.

 

[Signature Page Follows]

  

    12

     

    

 

 

 

IN WITNESS WHEREOF, the parties have executed this
Employment Agreement as of the date first written above.

 

	EMPLOYEE:	 
	 	Jason Clemens

 

	COMPANY:	ADAPTHEALTH CORP.
	 	 
	 	By:	 
	 	 	Name: Luke McGee 
	 	 	Title: Chief Executive Officer

 

Signature Page to Clemens Employment AgreementEX-4.9

 Exhibit 4.9 

TO BE RECORDED AND WHEN 
 RECORDED RETURN TO: 

[•] 
 Attn: [•] 

 
  

 
 INDENTURE OF MORTGAGE 

(MORTGAGE) 
 Dated as of
[•], 2020 
 This is a Security Agreement as well as a 

Mortgage of Real Estate and Other Property 

PACIFIC GAS AND ELECTRIC COMPANY, 

ISSUER (MORTGAGOR) 
 and

 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 

TRUSTEE (MORTGAGEE) 
  

 
  

THIS INSTRUMENT CONTAINS AFTER-ACQUIRED PROPERTY PROVISIONS 

 PACIFIC GAS AND ELECTRIC COMPANY 

Reconciliation and Tie between Trust Indenture Act of 1939 and Indenture of Mortgage, dated as of [•], 2020. 

 

					
	Trust Indenture Act Section	  	Indenture Section(s)
	Section 310	  	(a)(1)	  	11.09
		  	(a)(2)	  	11.09
		  	(a)(3)	  	11.14(ii)
		  	(a)(4)	  	Not Applicable
		  	(b)	  	11.08, 11.10
	Section 311	  	(a)	  	11.13
		  	(b)	  	Not Applicable
	Section 312	  	(a)	  	12.01
		  	(b)	  	12.01
		  	(c)	  	12.01
	Section 313	  	(a)	  	12.02
		  	(b)	  	12.02
		  	(c)	  	12.02
		  	(d)	  	12.02
	Section 314	  	(a)	  	12.02
		  	(b)	  	7.08
		  	(c)(1)	  	1.04
		  	(c)(2)	  	1.04
		  	(c)(3)	  	1.05
		  	(d)	  	5.02(b), 7.07(b), 8.03(c), 8.04(c), 8.05(b), 8.08
		  	(e)	  	1.04
	Section 315	  	(a)	  	11.01, 11.03
		  	(b)	  	11.02
		  	(c)	  	11.01
		  	(d)	  	11.01
		  	(e)	  	10.18
	Section 316	  	(a)	  	10.16
		  	(a)(1)(A)	  	10.16
		  	(a)(1)(B)	  	10.17
		  	(a)(2)	  	Not Applicable
		  	(b)	  	10.12
	Section 317	  	(a)(1)	  	10.06
		  	(a)(2)	  	10.09
		  	(b)	  	7.03
	Section 318	  	(a)	  	1.09

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I         DEFINITIONS AND OTHER
PROVISIONS OF GENERAL APPLICATION
	  	 	6	 
	 Section 1.01.
	  	GENERAL DEFINITIONS	  	 	6	 
	 Section 1.02.
	  	FUNDED PROPERTY; FUNDED CASH	  	 	25	 
	 Section 1.03.
	  	PROPERTY ADDITIONS; COST	  	 	26	 
	 Section 1.04.
	  	COMPLIANCE CERTIFICATES AND OPINIONS	  	 	28	 
	 Section 1.05.
	  	CONTENT AND FORM OF DOCUMENTS DELIVERED TO TRUSTEE	  	 	29	 
	 Section 1.06.
	  	ACTS OF HOLDERS	  	 	31	 
	 Section 1.07.
	  	NOTICES, ETC. TO TRUSTEE AND COMPANY	  	 	32	 
	 Section 1.08.
	  	NOTICE TO HOLDERS OF BONDS; WAIVER	  	 	34	 
	 Section 1.09.
	  	CONFLICT WITH TRUST INDENTURE ACT	  	 	34	 
	 Section 1.10.
	  	EFFECT OF HEADINGS AND TABLE OF CONTENTS	  	 	34	 
	 Section 1.11.
	  	SUCCESSORS AND ASSIGNS	  	 	34	 
	 Section 1.12.
	  	SEPARABILITY CLAUSE	  	 	35	 
	 Section 1.13.
	  	BENEFITS OF INDENTURE	  	 	35	 
	 Section 1.14.
	  	GOVERNING LAW	  	 	35	 
	 Section 1.15.
	  	LEGAL HOLIDAYS	  	 	35	 
	 Section 1.16.
	  	INVESTMENT OF CASH HELD BY TRUSTEE	  	 	35	 
	 Section 1.17.
	  	WAIVER OF JURY TRIAL	  	 	36	 
	 Section 1.18.
	  	FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA)	  	 	36	 
	 Section 1.19.
	  	FORCE MAJEURE	  	 	36	 
		
	 ARTICLE II         BOND FORMS
	  	 	37	 
	 Section 2.01.
	  	FORMS GENERALLY	  	 	37	 
	 Section 2.02.
	  	FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION	  	 	37	 
		
	 ARTICLE III         THE BONDS
	  	 	38	 
	 Section 3.01.
	  	AMOUNT UNLIMITED; ISSUABLE IN SERIES	  	 	38	 
	 Section 3.02.
	  	DENOMINATIONS	  	 	42	 
	 Section 3.03.
	  	EXECUTION, DATING, CERTIFICATE OF AUTHENTICATION	  	 	42	 
	 Section 3.04.
	  	TEMPORARY BONDS	  	 	43	 
	 Section 3.05.
	  	REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE	  	 	43	 
	 Section 3.06.
	  	MUTILATED, DESTROYED, LOST AND STOLEN BONDS	  	 	44	 
	 Section 3.07.
	  	PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED	  	 	45	 
	 Section 3.08.
	  	PERSONS DEEMED OWNERS	  	 	46	 
	 Section 3.09.
	  	CANCELLATION BY BOND REGISTRAR	  	 	47	 
	 Section 3.10.
	  	COMPUTATION OF INTEREST	  	 	47	 
	 Section 3.11.
	  	PAYMENT TO BE IN PROPER CURRENCY	  	 	47	 
	 Section 3.12.
	  	CUSIP NUMBERS	  	 	47	 
	 Section 3.13.
	  	EXTENSION OF INTEREST PAYMENT	  	 	48	 
	 Section 3.14.
	  	GLOBAL BONDS	  	 	48	 

							
	 ARTICLE IV        LIEN EFFECTIVE DATE
	  	 	48	 
		
	 ARTICLE V        ISSUANCE OF BONDS
	  	 	49	 
			
	 Section 5.01.
	  	GENERAL	  	 	49	 
	 Section 5.02.
	  	ISSUANCE OF BONDS ON THE BASIS OF PROPERTY ADDITIONS	  	 	51	 
	 Section 5.03.
	  	ISSUANCE OF BONDS ON THE BASIS OF RETIRED BONDS	  	 	53	 
	 Section 5.04.
	  	ISSUANCE OF BONDS ON THE BASIS OF DEPOSIT OF CASH	  	 	54	 
		
	 ARTICLE VI        REDEMPTION OF BONDS
	  	 	55	 
	 Section 6.01.
	  	APPLICABILITY OF ARTICLE	  	 	55	 
	 Section 6.02.
	  	ELECTION TO REDEEM; NOTICE TO TRUSTEE	  	 	55	 
	 Section 6.03.
	  	SELECTION OF BONDS TO BE REDEEMED	  	 	55	 
	 Section 6.04.
	  	NOTICE OF REDEMPTION	  	 	56	 
	 Section 6.05.
	  	BONDS PAYABLE ON REDEMPTION DATE	  	 	57	 
	 Section 6.06.
	  	BONDS REDEEMED IN PART	  	 	58	 
		
	 ARTICLE VII        COVENANTS
	  	 	58	 
	 Section 7.01.
	  	PAYMENT OF BONDS; LAWFUL POSSESSION; MAINTENANCE OF LIEN	  	 	58	 
	 Section 7.02.
	  	MAINTENANCE OF OFFICE OR AGENCY	  	 	58	 
	 Section 7.03.
	  	MONEY FOR BOND PAYMENTS TO BE HELD IN TRUST	  	 	59	 
	 Section 7.04.
	  	CORPORATE EXISTENCE	  	 	60	 
	 Section 7.05.
	  	MAINTENANCE OF PROPERTIES	  	 	60	 
	 Section 7.06.
	  	PAYMENT OF TAXES; LIENS AND DISCHARGE OF LIENS	  	 	60	 
	 Section 7.07.
	  	INSURANCE	  	 	61	 
	 Section 7.08.
	  	RECORDING, FURTHER ASSURANCES	  	 	64	 
	 Section 7.09.
	  	WAIVER OF CERTAIN COVENANTS	  	 	66	 
	 Section 7.10.
	  	ANNUAL OFFICER’S CERTIFICATE AS TO COMPLIANCE	  	 	66	 
		
	 ARTICLE VIII        POSSESSION, USE AND
RELEASE OF MORTGAGED PROPERTY
	  	 	66	 
	 Section 8.01.
	  	QUIET ENJOYMENT	  	 	66	 
	 Section 8.02.
	  	DISPOSITIONS WITHOUT RELEASE	  	 	67	 
	 Section 8.03.
	  	RELEASE OF FUNDED PROPERTY	  	 	68	 
	 Section 8.04.
	  	RELEASE OF PROPERTY CONSTITUTING UNFUNDED PROPERTY	  	 	71	 
	 Section 8.05.
	  	RELEASE OF PROPERTIES WITHIN ANNUAL LIMITS	  	 	73	 
	 Section 8.06.
	  	PURCHASE MONEY OBLIGATIONS	  	 	74	 
	 Section 8.07.
	  	WITHDRAWAL OR OTHER APPLICATION OF FUNDED CASH	  	 	75	 
	 Section 8.08.
	  	RELEASE OF PROPERTY TAKEN BY EMINENT DOMAIN, ETC.	  	 	77	 
	 Section 8.09.
	  	DISCLAIMER OR QUITCLAIM	  	 	77	 
	 Section 8.10.
	  	MISCELLANEOUS	  	 	78	 
	 Section 8.11.
	  	PRIORITY OF PURCHASE MONEY LIENS	  	 	79	 

  
 -ii- 

							
		
	 ARTICLE IX         SATISFACTION AND
DISCHARGE
	  	 	79	 
	 Section 9.01.
	  	SATISFACTION AND DISCHARGE OF BONDS	  	 	79	 
	 Section 9.02.
	  	SATISFACTION AND DISCHARGE OF INDENTURE	  	 	82	 
	 Section 9.03.
	  	APPLICATION OF TRUST MONEY	  	 	82	 
		
	 ARTICLE X         EVENTS OF DEFAULT;
REMEDIES
	  	 	83	 
	 Section 10.01. EVENTS OF DEFAULT
	  	 	83	 
	 Section 10.02. ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT
	  	 	85	 
	 Section 10.03. ENTRY UPON MORTGAGED PROPERTY
	  	 	86	 
	 Section 10.04. POWER OF SALE; SUITS FOR ENFORCEMENT
	  	 	86	 
	 Section 10.05. INCIDENTS OF SALE
	  	 	87	 
	 Section 10.06. COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY
TRUSTEE
	  	 	88	 
	 Section 10.07. APPLICATION OF MONEY COLLECTED
	  	 	88	 
	 Section 10.08. RECEIVER
	  	 	89	 
	 Section 10.09. TRUSTEE MAY FILE PROOFS OF CLAIM
	  	 	89	 
	 Section 10.10. TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF BONDS
	  	 	90	 
	 Section 10.11. LIMITATION ON SUITS
	  	 	90	 
	 Section 10.12. UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL, PREMIUM AND
INTEREST
	  	 	91	 
	 Section 10.13. RESTORATION OF RIGHTS AND REMEDIES
	  	 	91	 
	 Section 10.14. RIGHTS AND REMEDIES CUMULATIVE
	  	 	91	 
	 Section 10.15. DELAY OR OMISSION NOT WAIVER
	  	 	91	 
	 Section 10.16. CONTROL BY HOLDERS OF BONDS
	  	 	92	 
	 Section 10.17. WAIVER OF PAST DEFAULTS
	  	 	92	 
	 Section 10.18. UNDERTAKING FOR COSTS
	  	 	92	 
	 Section 10.19. WAIVER OF APPRAISEMENT AND OTHER LAWS
	  	 	93	 
		
	 ARTICLE XI THE TRUSTEE
	  	 	93	 
	 Section 11.01. CERTAIN DUTIES AND RESPONSIBILITIES
	  	 	93	 
	 Section 11.02. NOTICE OF DEFAULTS
	  	 	94	 
	 Section 11.03. CERTAIN RIGHTS OF TRUSTEE
	  	 	95	 
	 Section 11.04. NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF BONDS OR APPLICATION
OF PROCEEDS
	  	 	97	 
	 Section 11.05. MAY HOLD BONDS
	  	 	97	 
	 Section 11.06. MONEY HELD IN TRUST
	  	 	98	 
	 Section 11.07. COMPENSATION AND REIMBURSEMENT
	  	 	98	 
	 Section 11.08. DISQUALIFICATION; CONFLICTING INTERESTS
	  	 	99	 
	 Section 11.09. CORPORATE TRUSTEE REQUIRED; ELIGIBILITY
	  	 	99	 
	 Section 11.10. RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR 
	  	 	99	 
	 Section 11.11. ACCEPTANCE OF APPOINTMENT BY SUCCESSOR
	  	 	101	 

  
 -iii- 

					
	 Section 11.12. MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS
	  	 	101	 
	 Section 11.13. PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY
	  	 	102	 
	 Section 11.14. CO-TRUSTEES AND SEPARATE
TRUSTEES
	  	 	102	 
	 Section 11.15. APPOINTMENT OF AUTHENTICATING AGENT
	  	 	103	 
		
	 ARTICLE XII   LISTS OF HOLDERS; REPORTS BY TRUSTEE AND COMPANY
	  	 	105	 
	 Section 12.01. LISTS OF HOLDERS
	  	 	105	 
	 Section 12.02. REPORTS BY TRUSTEE AND COMPANY
	  	 	105	 
		
	 ARTICLE XIII   CONSOLIDATION, MERGER, CONVEYANCE OR OTHER TRANSFER
	  	 	106	 
	 Section 13.01. COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS
	  	 	106	 
	 Section 13.02. SUCCESSOR CORPORATION SUBSTITUTED
	  	 	107	 
	 Section 13.03. EXTENT OF LIEN HEREOF ON PROPERTY OF SUCCESSOR CORPORATION
	  	 	108	 
	 Section 13.04. RELEASE OF COMPANY UPON CONVEYANCE OR OTHER TRANSFER
	  	 	108	 
	 Section 13.05. MERGER INTO COMPANY; EXTENT OF LIEN HEREOF
	  	 	109	 
		
	 ARTICLE XIV   SUPPLEMENTAL INDENTURES
	  	 	109	 
	 Section 14.01. SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS
	  	 	109	 
	 Section 14.02. SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS
	  	 	111	 
	 Section 14.03. EXECUTION OF SUPPLEMENTAL INDENTURES
	  	 	113	 
	 Section 14.04. EFFECT OF SUPPLEMENTAL INDENTURES
	  	 	113	 
	 Section 14.05. CONFORMITY WITH TRUST INDENTURE ACT
	  	 	113	 
	 Section 14.06. REFERENCE IN BONDS TO SUPPLEMENTAL INDENTURES
	  	 	113	 
	 Section 14.07. MODIFICATION WITHOUT SUPPLEMENTAL INDENTURE
	  	 	113	 
		
	 ARTICLE XV   MEETINGS OF HOLDERS; ACTION WITHOUT MEETING
	  	 	114	 
	 Section 15.01. PURPOSES FOR WHICH MEETINGS MAY BE CALLED
	  	 	114	 
	 Section 15.02. CALL, NOTICE AND PLACE OF MEETINGS
	  	 	114	 
	 Section 15.03. PERSONS ENTITLED TO VOTE AT MEETINGS
	  	 	115	 
	 Section 15.04. QUORUM; ACTION
	  	 	115	 
	 Section 15.05. ATTENDANCE AT MEETINGS; DETERMINATION OF VOTING RIGHTS; CONDUCT AND
ADJOURNMENT OF MEETINGS
	  	 	116	 
	 Section 15.06. COUNTING VOTES AND RECORDING ACTION OF MEETINGS
	  	 	117	 
	 Section 15.07. ACTION WITHOUT MEETING
	  	 	117	 

  

							
	 ARTICLE XVI   IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND
DIRECTORS
	  	 	117	 
	 Section 16.01. LIABILITY SOLELY CORPORATE
	  	 	117	 

  
 -iv- 

 INDENTURE OF MORTGAGE (this “Indenture”), dated as of [•],
between PACIFIC GAS AND ELECTRIC COMPANY, a corporation duly organized and existing under the laws of the State of California (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking
association organized under the laws of the United States of America, as Trustee and Mortgagee (the “Trustee”). 

RECITALS OF THE COMPANY 

The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its Bonds (as
hereinafter defined) to be issued in one or more series or Tranches (as hereinafter defined) as contemplated herein, and, from and after the Lien Effective Date (as hereinafter defined), to provide security for the payment of the principal of and
premium, if any, and interest, if any, on the Bonds. 
 From and after the Lien Effective Date, the Bonds will be secured by a lien on and
security interest in the Mortgaged Property (as hereinafter defined) to the extent provided herein. 
 All acts necessary to make this
Indenture a valid agreement of the Company, in accordance with its terms, have been performed. For all purposes of this Indenture, except as otherwise expressly provided herein or unless the context otherwise requires, capitalized terms used herein
shall have the meanings assigned to them in Article I of this Indenture. 
 GRANTING CLAUSES 

NOW, THEREFORE, THIS INDENTURE WITNESSETH, that, in consideration of the premises and of the purchase of the Bonds by the Holders
thereof, and in order to secure the payment of the principal of and premium, if any, and interest, if any, on all Bonds from time to time Outstanding and the performance of the covenants therein and herein contained, and to declare the terms and
conditions on which such Bonds are secured, the Company hereby grants, bargains, sells, conveys, assigns, transfers, mortgages, pledges, sets over and confirms to the Trustee, with power of sale, and grants to the Trustee a security interest in and
lien on, the following, (subject, however, to the terms and conditions set forth in this Indenture), with such security interest and lien to become effective on the Lien Effective Date: 

GRANTING CLAUSE FIRST 

All right, title and interest of the Company, as of the Execution Date (as hereinafter defined), in and to all property, real, personal and
mixed, located in the State of California, including without limitation all right, title and interest of the Company in and to the following property so located (other than Excepted Property (as hereinafter defined)): (a) all real property owned in
fee and other interests in real property which are specifically described or referred to in Exhibit A attached hereto and incorporated herein by this reference; (b) all easements, licenses and permits to use the real property of others,
franchises to use public roads, streets and other public properties, rights of way and other rights or interests relating to the occupancy or use of real property; (c) all facilities, machinery, equipment and fixtures for the generation,
transmission and distribution of electric energy including, but not limited to, all plants, switchyards, towers, substations, transformers, poles, lines, cables, conduits, ducts, conductors, meters, regulators and all other property used or to be
used for any or all of such purposes; (d) all 

 
facilities, machinery, equipment and fixtures for the transmission and transportation, storage and distribution of gas including, but not limited to, gas works, stations and substations,
transmission pipelines, storage facilities, holders, tanks, retorts, purifiers, odorizers, scrubbers, compressors, valves, regulators, pumps, mains, pipes, service pipes, conduits, ducts, fittings and connections, services, meters and any and all
other property used or to be used for any or all of such purposes; (e) all buildings, offices, warehouses, structures or improvements in addition to those referred to or otherwise included in clauses (a), (c) and
(d) above; (f) all computers, data processing, data storage, data transmission and/or telecommunications facilities, equipment and apparatus necessary for the operation or maintenance of any of the facilities, machinery, equipment or
fixtures described or referred to in clauses (c) and (d) above; and (g) all of the foregoing property in the process of construction; 

GRANTING CLAUSE SECOND 

All right, title and interest of the Company in, to and under all property, real, personal and mixed (other than Excepted Property), located
in the State of California which may be hereafter acquired by the Company, it being the intention of the Company that all such property acquired by the Company after the Execution Date shall be as fully embraced within and subjected to the lien
hereof as if such property were owned by the Company as of the Execution Date; 
 GRANTING CLAUSE THIRD 

All right, title and interest of the Company in, to and under any Excepted Property, which may, from time to time after the Execution Date, by
delivery or by an instrument supplemental to this Indenture, be subjected to the lien hereof by the Company, the Trustee being hereby authorized to receive the same at any time as additional security hereunder; it being understood that any such
subjection to the lien hereof of any Excepted Property as additional security may be made subject to such reservations, limitations or conditions respecting the use and disposition of such property or the proceeds thereof as shall be set forth in
such instrument; 
 GRANTING CLAUSE FOURTH 

All right, title and interest of the Company, whether now owned or hereafter acquired, in, to and under (i) all goods (as such term is
defined in the California Commercial Code as in effect on the date hereof) located in the State of California, and (ii) all money, deposit accounts, instruments, investment property and other property (as such terms are defined in the
California Commercial Code as in effect on the date hereof) paid or delivered to, deposited with, or held by the Trustee hereunder; 

GRANTING CLAUSE FIFTH 

All right, title and interest, whether now owned or hereafter acquired, of the Company in, to and under the rents, issues, profits, revenues
and other income and proceeds of the property expressly subjected or expressly required to be subjected to the lien of this Indenture, and all the estate, right, title and interest of every nature whatsoever of the Company in and to the same and
every part thereof, and all other property of whatever kind and nature expressly subjected to the lien of this Indenture or stated to constitute Mortgaged Property by any of the terms and provisions hereof; and 

  
 -2- 

 GRANTING CLAUSE SIXTH 

All proceeds (as such term is defined in the California Commercial Code as in effect on the date hereof) of the foregoing. 

EXCEPTED PROPERTY 

Expressly excepting and excluding, however, from the lien of this Indenture all right, title and interest of the Company in, to or under the
following property (other than such property as is described in Granting Clause Third of this Indenture), whether now owned or hereafter acquired (the “Excepted Property”): 

(a) all money, investment property, deposit accounts and security entitlements (as such terms are defined in the California Commercial Code as
in effect on the date hereof), and all cash on hand or on deposit in banks or other financial institutions, shares of stock, joint ventures, interests in general or limited partnerships or limited liability companies, bonds, notes, other evidences
of indebtedness and other securities, commodity accounts and policies of insurance on the lives of officers and directors of the Company, of whatever kind and nature, in each case to the extent not hereafter paid or delivered to, deposited with, or
held by the Trustee hereunder; 
 (b) all accounts, chattel paper, commercial tort claims, documents, general intangibles, instruments, letter-of-credit rights and letters of credit (as such terms are defined in the California Commercial Code as in effect on the date hereof), other than those specifically
described in clause (b) of Granting Clause First and in Granting Clause Fourth of this Indenture; and all contracts, leases (including, but not limited to, the Diablo Canyon Lease (as hereinafter defined)), operating agreements and other
agreements of whatever kind and nature; all contract rights, bills and notes (except to the extent that any of the same constitute securities, security entitlements or investment property, in which case they are separately excepted from the lien of
this Indenture under clause (a) above); all revenues, income and earnings, all accounts receivable, rights to payment and unbilled revenues, all rents, tolls, issues, product and profits, claims, credits, demands and judgments, including
any rights in or to rates, revenue components, charges, tariffs or amounts arising therefrom, or in any amounts that are accrued and recorded in a regulatory account for collections by the Company; all governmental and other licenses, permits,
franchises, consents and allowances, including all emission allowances and greenhouse gas allowances (or similar rights) created under any similar existing or future law relating to abatement or control of pollution of the atmosphere, water or soil,
other than those specifically described in clause (b) of Granting Clause First of this Indenture; and all patents, patent licenses and other patent rights, patent applications, trade names, trademarks, copyrights and other intellectual
property, including computer software and software licenses; and all claims, credits, choses in action and other intangible property; 

  
 -3- 

 (c) all automobiles, buses, trucks, truck cranes, tractors, trailers, motor vehicles and
similar vehicles and movable equipment; all rolling stock, rail cars and other railroad equipment; all vessels, boats, barges and other marine equipment; all airplanes, helicopters, aircraft engines and other flight equipment; and all parts,
accessories and supplies used in connection with any of the foregoing; 
 (d) all goods, stock in trade, wares, merchandise and inventory
held for the purpose of sale or lease in the ordinary course of business; all materials, supplies, inventory and other items of personal property which are consumable (otherwise than by ordinary wear and tear) in their use in the operation of the
Mortgaged Property; all fuel, whether or not any such fuel is in a form consumable in the operation of the Mortgaged Property, including separate components of any fuel in the forms in which such components exist at any time before, during or after
the period of the use thereof as fuel; all hand and other portable tools and equipment; all furniture and furnishings; and computers and data processing, data storage, data transmission, telecommunications and other facilities, equipment and
apparatus, which, in any case, are used primarily for administrative or clerical purposes or are otherwise not necessary for the operation or maintenance of the facilities, machinery, equipment or fixtures described or referred to in clause
(c) or (d) of Granting Clause First of this Indenture; 
 (e) all personal property the perfection of a security interest in
which is not governed by the California Commercial Code; 
 (f) all oil, gas and other minerals (as such terms are defined in the California
Commercial Code as in effect on the date hereof); and all coal, ore, gas, oil and other minerals and all timber, and all rights and interests in any of the foregoing, whether or not such minerals or timber shall have been mined or extracted or
otherwise separated from the land; and all electric energy and capacity, gas (natural or artificial), steam, water and other products generated, produced, manufactured, purchased or otherwise acquired by the Company; 

(g) all property which is the subject of a lease agreement designating the Company as lessee and all right, title and interest of the Company
in and to such property and in, to and under such lease agreement, whether or not such lease agreement is intended as security, including, but not limited to, the Company’s right, title and interest in and to the property which is the subject
of the Diablo Canyon Lease; 
 (h) all property, real, personal and mixed, which subsequent to the Execution Date, has been released from
the lien of this Indenture, and any improvements, extensions and additions to such properties and renewals, replacements and substitutions of or for any parts thereof; 

(i) all property, real, personal and mixed, that is stated in Sections 8.10(d), 13.03 or 13.05 of this Indenture to not
be subject to the lien of this Indenture; 
 (j) all Environmental Remediation Sites; 

(k) all General Office Property; 

(l) Hydro Property described in Exhibit B-3; 

(m) all Mitigation Property; 

  
 -4- 

 (n) all Surplus Property; and 

(o) all proceeds (as such term is defined in the California Commercial Code as in effect on the date hereof) of the foregoing, 

provided, however, that Excepted Property shall not include the identifiable proceeds (as such term is defined in the California Commercial Code
as in effect on the date hereof) of any Mortgaged Property that the Company has disposed of in violation of the terms of this Indenture; and provided, further, that subject to the provisions of Section 13.03,
if, at any time after the occurrence of an Event of Default, the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding), or any separate trustee or co-trustee appointed under Section 11.14 or any receiver appointed pursuant to Section 10.08 or otherwise, shall have entered into possession of all or
substantially all the Mortgaged Property, to the extent permitted by law, all the Excepted Property described or referred to in the foregoing clauses (c) and (d) then owned or held or thereafter acquired by the Company, to the
extent that the same is used in connection with, or otherwise relates or is attributable to, the Mortgaged Property, shall immediately, and, in the case of any Excepted Property described or referred to in clause (g), to the extent that the
same is used in connection with, or otherwise relates or is attributable to, the Mortgaged Property, upon demand of the Trustee or such other trustee or receiver, become subject to the lien of this Indenture, junior and subordinate to any Liens at
that time existing on such Excepted Property, and the Trustee or such other trustee or receiver may, to the extent not prohibited by law or by the terms of any such other Lien (and subject to the rights of the holders of all such other Liens), at
the same time likewise take possession thereof; provided, however, that none of the Excepted Property described or referred to in the foregoing clauses (c), (d) and (g) shall become subject to the lien of this
Indenture upon the occurrence of an Event of Default, if such Excepted Property is (x) subject to an existing agreement that prohibits the imposition of further Liens on such Excepted Property or (y) subject to an existing agreement
providing for the sale or other disposition of such Excepted Property; provided, further, that whenever all Events of Default shall have been cured and the possession of all or substantially all of the Mortgaged Property shall have
been restored to the Company, such Excepted Property shall again be excepted and excluded from the lien hereof to the extent set forth above; it being understood that the Company may, however, pursuant to Granting Clause Third, subject any Excepted
Property to the lien of this Indenture whereupon the same shall cease to be Excepted Property; 
 TO HAVE AND TO HOLD all such
property, real, personal and mixed, unto the Trustee, its successors in trust and their assigns forever (and this Indenture is both a real property mortgage and a “security agreement” within the meaning of Article 9 of the Uniform
Commercial Code as in effect from time to time in the State of California or the State of New York, as applicable); 
 SUBJECT,
HOWEVER, to Permitted Liens; and 
 IN TRUST, NEVERTHELESS, for the equal and ratable benefit and security of the Holders from
time to time of all Outstanding Bonds without any priority of any such Bond over any other such Bond; 

  
 -5- 

 PROVIDED, HOWEVER, that the right, title and interest of the Trustee in and to the
Mortgaged Property shall cease, terminate and become void in accordance with, and subject to the conditions set forth in, Article VIII or Article IX hereof, and if, thereafter, the principal of and premium, if any, and interest, if
any, on the Bonds shall have been paid to the Holders thereof, or shall have been paid to the Company pursuant to Section 7.03 hereof or to the appropriate Governmental Authority pursuant to applicable law after the
Maturity thereof, then and in that case this Indenture shall terminate, and the Trustee shall execute and deliver to the Company such instruments as the Company shall require to evidence such termination; otherwise this Indenture, and the estate and
rights hereby granted, shall be and remain in full force and effect; 
 IT IS HEREBY COVENANTED AND AGREED by and between the Company
and the Trustee that all the Bonds are to be authenticated and delivered, and that the Mortgaged Property is to be held, subject to the further covenants, conditions and trusts hereinafter set forth, and the Company hereby covenants and agrees to
and with the Trustee, for the equal and ratable benefit of all Holders of the Bonds, as follows: 
 ARTICLE I 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL 

APPLICATION 
  

	SECTION 1.01.	 GENERAL DEFINITIONS. 

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

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

(b) reference to any gender shall include all other genders; 

(c) all terms used herein without definition which are defined in the Trust Indenture Act as in effect on the date hereof, either directly or
by reference therein, have the meanings assigned to them therein; 
 (d) all terms used herein without definition which are defined in the
California Commercial Code as in effect on the date hereof shall have the meanings assigned to them therein; 
 (e) all accounting terms not
otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles in the United States; and, except as otherwise herein expressly provided, the term “generally accepted accounting
principles” with respect to any computation required or permitted hereunder shall mean such accounting principles as are generally accepted in the United States at the date of such computation or, at the election of the Company from time to
time, at the Execution Date; provided, however, that in determining generally accepted accounting principles applicable to the Company, effect shall be given, to the extent required, to any order, rule or regulation of any
administrative agency, regulatory authority or other governmental body having jurisdiction over the Company; 

  
 -6- 

 (f) any reference to an “Article”, a “Section” or any other subdivision
refers to an Article, a Section or other subdivision, as the case may be, of this Indenture; and 
 (g) the words “herein”,
“hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision. 

“Accountant” means a Person engaged in the accounting profession or otherwise qualified to pass on accounting matters
(including, but not limited to, a Person certified or licensed as a public accountant, whether or not then engaged in the public accounting profession), which Person, unless required under the terms hereof to be Independent, may be an employee, an
Affiliate or an employee of an Affiliate of the Company. 
 “Acquired Facility” means any property which, within six
(6) months prior to the date of its acquisition by the Company, has been used or operated by a Person or Persons other than the Company in a business similar to that in which such property has been or is to be used or operated by the Company.

 “Act”, when used with respect to any Holder of a Bond, has the meaning specified in
Section 1.06. 
 “Adjusted Funded Property Basis” means, with respect to any Funded Property
(including any Property Additions which have become Funded Property under the terms of this Indenture), the Funded Property Basis of such Funded Property after making deductions therefrom and additions thereto as contemplated by
Section 1.03(b). 
 “Adjusted Property Additions Basis” means, with respect to any Property
Additions which constitute Unfunded Property, the Property Additions Basis of such Property Additions after making deductions therefrom and additions thereto as contemplated by Section 1.03(b). 

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

“Attributable Debt” in respect of a sale and leaseback transaction means, at the time of determination, the present value of
the obligation of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction, including any period for which such lease has been extended or may, at the option of the lessor, be
extended. Such present value shall be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with generally accepted accounting principles. 

  
 -7- 

 “Authenticating Agent” means any Person or Persons (other than the Company
or an Affiliate of the Company) authorized by the Trustee to act on behalf of the Trustee to authenticate the Bonds of one or more series. 

“Authorized Officer” means the Chairman of the Board, the President, the Chief Executive Officer, any Vice President or
Assistant Vice President, the Chief Financial Officer, the Treasurer or Assistant Treasurer or any other person duly authorized by the Board of Directors to act as an Authorized Officer. 

“Authorized Publication” means a newspaper or financial journal of general circulation, printed in the English language and
customarily published on each Business Day, whether or not published on Saturdays, Sundays or holidays; or, in the alternative, shall mean such form of communication as may have come into general use for the dissemination of information of import
similar to that of the information specified to be published by the provisions hereof. In the event that successive weekly publications in an Authorized Publication are required hereunder they may be made (unless otherwise expressly provided herein)
on the same or different days of the week and in the same or in different Authorized Publications. In case, by reason of the suspension of publication of any Authorized Publication, or by reason of any other cause, it shall be impractical without
unreasonable expense to make publication of any notice in an Authorized Publication as required by this Indenture, then such method of publication or notification as shall be made with the approval of the Trustee shall be deemed the equivalent of
the required publication of such notice in an Authorized Publication. 
 “Authorized Purposes” means the authentication and
delivery of Bonds, the release of property and/or the withdrawal of cash under any of the provisions of this Indenture. 

“Bankruptcy Code” means the United States Bankruptcy Code, 11 United States Code Section 101 et seq., or any successor
statute thereto. 
 “Board of Directors” means the board of directors of the Company, any committee thereof duly authorized
to act in respect of matters relating to this Indenture or any other body fulfilling the function of a board of directors of a corporation authorized to act in respect of matters relating to this Indenture. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company that has
been duly adopted by the Board of Directors, that is in full force and effect on the date of such certification and that has been delivered to the Trustee. 

“Bond Register” and “Bond Registrar” have the respective meanings specified in
Section 3.05. 
 “Bonds” means any securities, including any bonds, notes and other evidences of
indebtedness, authenticated and delivered under this Indenture. 
 “Business Day” means any day, other than a Saturday or
Sunday, which is not a day on which banking institutions or trust companies in (i) any Place of Payment or other location specified in the Bonds or this Indenture or (ii) the location of the Company’s principal place of business or
the Corporate Trust Office of the Trustee, are generally authorized or required by law, regulation or executive order to remain closed, except as may be otherwise specified as contemplated by Section 3.01. 

  
 -8- 

 “California Commercial Code” means the California Commercial Code as in
effect from time to time, unless otherwise specified in this Indenture. 
 “California Public Utilities Code” means the
California Public Utilities Code as in effect from time to time, unless otherwise specified in this Indenture. 
 “Cash Deposit
Amount” has the meaning specified in (i) Section 8.03, when used in Section 8.03, or (ii) Section 8.05, when used in
Section 8.05. 
 “Cash Deposit Credit Items” has the meaning specified in
Section 8.03. 
 “Commission” means the Securities and Exchange Commission, as from time to time
constituted, created under the Exchange Act or, if at any time after the Execution Date such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body, if any, performing such duties at such
time. 
 “Company” means the Person named as the “Company” in the first paragraph of this Indenture until a
successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person. 

“Company Order” or “Company Request” means, respectively, a written order or request, as the case may be,
signed in the name of the Company by an Authorized Officer and delivered to the Trustee. 
 “Confirmation Order” means the
confirmation order entered by the United States Bankruptcy Court for the Northern District of California confirming the Plan and approving the transactions contemplated thereby. 

“Corporate Trust Office” means the designated office of the Trustee, at which at any particular time its corporate trust
business shall be administered, which office, at the Execution Date, is located at The Bank of New York Mellon Trust Company, N.A., 400 South Hope Street, Suite 500, Los Angeles, CA 90071, Attention: Global Corporate Trust Unit, or such other
address as the Trustee may designate from time to time by notice to the Holders and the Company. 
 “Corporation” means a
corporation, partnership, limited liability company, association, company, joint stock company or business trust, and references to “corporate” and other derivations of “corporation” herein shall be deemed to include appropriate
derivations of such entities. 
 “Cost” has the meaning specified in Section 1.03. 

“CPI Index” means the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index for All Urban
Consumers, U.S. City Average, “All Items” (1982-84 = 100), or any successor index thereof as such successor index may be appropriately adjusted to establish substantial equivalence with the Consumer
Price Index; provided that if the Consumer Price Index ceases to be published and there is no successor thereto, such other index as the Company shall designate in writing to the Trustee shall be substituted for the Consumer Price Index. 

  
 -9- 

 “Debt” means any debt of the Company for money borrowed and guarantees by
the Company of debt for money borrowed but in each case excluding liabilities in respect of Lease Obligations or Swap Agreements. 

“Deductible Limit” means, with respect to any fire insurance policy required to be maintained by the Company under
Section 7.07, an amount equal to the greatest of (i) Twenty-Five Million Dollars ($25,000,000) with respect to any such policy expiring in calendar year 2020; provided that, with respect to any policy expiring in any
subsequent calendar year, such amount shall be increased by the same percentage increase in the CPI Index for the period commencing on January 1, 2020 and ending on the commencement date of such policy, and (ii) three percent (3%) of the
principal amount of the Bonds Outstanding on the commencement date of any such policy, and (iii) any other dollar amount which is applicable to fire insurance (x) on property of similar character maintained by companies similarly situated
and operating like property or (y) on property as to which an equal primary fire insurance rate has been set by responsible insurance companies. 

“Default” means any event that with the passage of time or the giving of notice or both would be an Event of Default. 

“Defaulted Interest” has the meaning specified in Section 3.07. 

“De Minimis Amount” means, as of the calculation date, an amount which is less than the greater of (i) Twenty-Five
Thousand Dollars ($25,000) or (ii) one percent (1%) of the aggregate principal amount of the Bonds Outstanding at the time of calculation. 

“Depositary” means, with respect to the Bonds of any series, or Tranche thereof, issuable or issued in whole or in part in
the form of one or more Global Bonds, the Person designated as Depositary by the Company pursuant to Sections 3.01(q) and 3.14 until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture,
and, thereafter, “Depositary” shall mean or include each Person who is then a Depositary hereunder, and if at any time there is more than one such Person, “Depositary” as used with respect to Bonds of any such series shall mean
the Depositary with respect to the Bonds of that series or Tranche. 
 “Deposited Cash” has the meaning specified in
Section 5.04. 
 “Diablo Canyon Lease” means that certain lease dated September 17, 1966,
between Eureka Energy Company, as lessor, and the Company, as lessee, which lease was originally entered into between Luigi Marre Land and Cattle Company, a California corporation, as lessor, and San Luis Obispo Bay Properties, Inc., a California
corporation, as lessee, a memorandum of which Lease was recorded September 21, 1966 in Volume 1410, Page 556, Official Records, San Luis Obispo County, California, and any supplements, assignments, modifications and amendments thereto. 

  
 -10- 

 “DIP Credit Agreement” means that certain Senior Secured Superpriority
Debtor in Possession Credit, Guaranty and Security Agreement, dated as of February 1, 2019, among the Company, as borrower, PG&E Corporation, as guarantor, JPMorgan Chase Bank, N.A., as administrative agent, and Citibank, N.A., as
collateral agent. 
 “Discount Bond” means any Bond which provides for an amount less than the principal amount thereof to
be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 10.02. “Interest” with respect to a Discount Bond means interest, if any, borne by such Bond at a Stated
Interest Rate. 
 “Dollar” or “$” means a dollar or other equivalent unit in such coin or currency of the
United States as at the time shall be legal tender for the payment of public and private debts. 
 “Effective Date” has the
meaning set forth in the Plan. 
 “Eligible Obligations” means: 

(a) with respect to Bonds denominated in Dollars, Government Obligations; or 

(b) with respect to Bonds denominated in a currency other than Dollars or in a composite currency, such other obligations or instruments as
shall be specified with respect to such Bonds as contemplated by Section 3.01. 
 “Environmental
Remediation Sites” means those properties described on Exhibit B-1 hereto. 

“Event of Default” has the meaning specified in Section 10.01. 

“Excepted Property” has the meaning specified in the Granting Clauses of this Indenture. 

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

“Execution Date” means [•], 2020. 

“Expert” means a Person which is an engineer, appraiser, Accountant or other expert and which, with respect to any
certificate to be signed by such Person and delivered to the Trustee, is qualified to pass upon the matters set forth in such certificate. For purposes of this definition, (a) “engineer” means a Person engaged in the engineering profession
or otherwise qualified to pass upon engineering matters (including, but not limited to, a Person licensed as a professional engineer, whether or not then engaged in the engineering profession) and (b) “appraiser” means a Person engaged in
the business of appraising property or otherwise qualified to pass upon the Fair Value or fair market value of property. 

  
 -11- 

 “Expert’s Certificate” means a certificate signed by an Authorized
Officer and by one or more Experts (which Expert(s) (a) shall be selected either by the Board of Directors or by an Authorized Officer, the execution of such certificate by such Authorized Officer to be conclusive evidence of such selection,
and (b) except as otherwise required under the terms hereof to be Independent, may be an employee, an Affiliate or an employee of an Affiliate of the Company duly authorized either by the Board of Directors or by an Authorized Officer) and
delivered to the Trustee. The amount stated in any Expert’s Certificate as to the Cost, Fair Value or fair market value of property shall be conclusive and binding upon the Company, the Trustee and the Holders. 

“Fair Value”, with respect to property, means the fair value of such property as may be determined by reference to
(a) the amount which would be likely to be obtained in an arm’s-length transaction with respect to such property between an informed and willing buyer and an informed and willing seller, under no
compulsion, respectively, to buy or sell, (b) the amount of investment with respect to such property which, together with a reasonable return thereon, would be likely to be recovered through ordinary business operations or otherwise,
(c) Cost, accumulated depreciation, and replacement or reproduction cost with respect to such property and/or (d) any other relevant factors; provided, however, that (x) the Fair Value of property shall be determined
without deduction for any Senior Liens on such property, and (y) the Fair Value to the Company of Property Additions shall not reflect any reduction relating to the fact that such Property Additions may be of less value to a Person which is not
the owner or operator of the Mortgaged Property or any portion thereof than to a Person which is such owner or operator. Fair Value of any property may be determined, without physical inspection, by the use of accounting and engineering records and
other data maintained by the Company (including on the basis of the Cost of such property) or otherwise available to the Expert certifying the same. 

“Funded Cash” has the meaning specified in Section 1.02. 

“Funded Property” has the meaning specified in Section 1.02. 

“Funded Property Basis” means, with respect to any Funded Property (including any Property Additions which have become Funded
Property under the terms of this Indenture), the Net Cost of such property or, if the Net Fair Value to the Company of such property at the time the same became Funded Property was certified to be an amount less than the Net Cost thereof, such Net
Fair Value, as so certified, in lieu of Net Cost. 
 “Funded Property Retired” means, with respect to any Funded Property,
(a) any such property that has been abandoned, destroyed, sold, lost through casualty or taken through the enforcement of the power of eminent domain or similar right or otherwise disposed of or released from the lien of this Indenture and
(b) Miscellaneous Personalty. Such property shall thereupon cease to be Funded Property under this Indenture but, as herein provided, may at any time thereafter again become Funded Property. Notwithstanding the foregoing or anything to the
contrary contained herein, neither any reduction in the Cost or book value of property recorded in the plant or other property account of the Company (other than with respect to Miscellaneous Personalty), nor the transfer of any amount appearing in
such account to intangible and/or adjustment accounts, otherwise than in connection with actual retirements of physical property that has been disposed of as provided above and otherwise than in connection with the removal of such property in its
entirety from the plant or property account, shall be deemed to constitute Funded Property Retired. 

  
 -12- 

 “General Office Property” means those properties described on Exhibit B-2 hereto. 
 “Global Bond” means a Bond representing all or part of a series of
Bonds, or Tranche thereof, issued to the Depositary for such series or Tranche in accordance with Section 3.14, and bearing the legend prescribed in Section 3.14. 

“Governmental Authority” means the government of the United States or of any state or territory thereof or of the District of
Columbia or of any county, municipality or other political subdivision of any thereof, or any department, agency, authority or other instrumentality of any of the foregoing. 

“Government Obligations” means securities which are (a) (i) direct obligations of the United States where the payment or
payments thereunder are supported by the full faith and credit of the United States or (ii) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States where the timely payment or payments
thereunder are unconditionally guaranteed as a full faith and credit obligation by the United States or (b) depository receipts issued by a bank (as defined in Section 3(a)(2) of the Securities Act of 1933, as amended) as custodian with
respect to any such Government Obligation or a specific payment of interest on or principal of or other amount with respect to any such Government Obligation held by such custodian for the account of the holder of a depository receipt; provided,
that, (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Obligation or the
specific payment of interest on or principal of or other amount with respect to the Government Obligation evidenced by such depository receipt. 

“Holder” means a Person in whose name a Bond is registered in the Bond Register. 

“Hydro Property” means those properties described in Exhibit B-3 hereto. 

“Indenture” means this instrument as originally executed and as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part
of and govern this Indenture and any such supplemental indenture, respectively. The term “Indenture” shall also include the provisions or terms of particular series of Bonds established in any Officer’s Certificate, Board Resolution
or Company Order delivered pursuant to Sections 2.01, 3.01 and 14.07. 
 “Independent”, when applied
to any Accountant, Expert or other specified Person, means such a Person who (a) does not have any direct or indirect material financial interest in the Company or in any other obligor upon the Bonds or in any Affiliate of the Company or of
such other obligor, (b) is not connected with the Company, an Affiliate of the Company or such other obligor as an officer, employee, promoter, underwriter, trustee, partner, director or any person performing similar functions and (c) is
appointed or selected by the Company and reasonably acceptable to the Trustee. 

  
 -13- 

 “Independent Expert’s Certificate” means a certificate signed by an
Independent Expert and delivered to the Trustee. 
 “Interest Payment Date”, when used with respect to any Bond, means the
Stated Maturity of an installment of interest on such Bond. 
 “Internal Revenue Code” means the Internal Revenue Code of
1986, as amended, or any successor federal statute. 
 “Investment Securities” means any of the following obligations or
investment property on which neither the Company, any other obligor on the Bonds nor any Affiliate of either is the obligor: (a) Government Obligations; (b) interest bearing deposit accounts (which may be represented by certificates of
deposit) in any national or state bank (which may include the Trustee or any Paying Agent) or savings association which has outstanding securities rated by a nationally recognized rating organization in either of the two (2) highest rating
categories (without regard to modifiers) for short-term securities or in any of the three (3) highest rating categories (without regard to modifiers) for long-term securities; (c) bankers’ acceptances drawn on and accepted by any
commercial bank (which may include the Trustee or any Paying Agent) which has outstanding securities rated by a nationally recognized rating organization in either of the two (2) highest rating categories (without regard to modifiers) for
short-term securities or in any of the three (3) highest rating categories (without regard to modifiers) for long-term securities; (d) direct obligations of, or obligations the principal of and interest on which are unconditionally
guaranteed by, any state or territory of the United States or the District of Columbia, or any political subdivision of any of the foregoing, which are rated by a nationally recognized rating organization in either of the two (2) highest rating
categories (without regard to modifiers) for short-term securities or in any of the three (3) highest rating categories (without regard to modifiers) for long-term securities; (e) bonds or other obligations of any agency or instrumentality
of the United States; (f) corporate debt securities which are rated by a nationally recognized rating organization in either of the two (2) highest rating categories (without regard to modifiers) for short-term securities or in any of the
three (3) highest rating categories (without regard to modifiers) for long-term securities; (g) repurchase agreements with respect to any of the foregoing obligations or securities with any banking or financial institution (which may
include the Trustee or any Paying Agent) which has outstanding securities rated by a nationally recognized rating organization in either of the two (2) highest rating categories (without regard to modifiers) for short-term securities or in any
of the three (3) highest rating categories (without regard to modifiers) for long-term securities; (h) securities issued by any regulated investment company (including any investment company for which the Trustee or any Paying Agent is the
advisor), as defined in Section 851 of the Internal Revenue Code or any such successor section of the Internal Revenue Code, provided that the portfolio of such investment company is limited to obligations or securities of the character and
investment quality contemplated in clauses (a) through (f) above and repurchase agreements which are fully collateralized by any of such obligations or securities; and (i) any other obligations or securities which may
lawfully be purchased by the Trustee in its capacity as such. 
 “Lease Obligation” means, at the time any determination is
to be made, the amount of the liability in respect of a lease that would at that time be required to be capitalized on a balance sheet in accordance with generally accepted accounting principles. 

  
 -14- 

 “Lien” means any mortgage, deed of trust, pledge, security interest,
encumbrance, easement, lease, reservation, restriction, servitude, charge or similar right and any other lien of any kind, including, without limitation, any conditional sale or other title retention agreement, any lease in the nature thereof, and
any defect, irregularity, exception or limitation in record title or, when the context so requires, any lien, claim or interest arising from any of the foregoing. 

“Lien Effective Date” has the meaning specified in Section 4.01. 

“Make-Up Amount” has the meaning specified in
(i) Section 7.07(c)(ii)(C), when used in Section 7.07(c), or (ii) Section 8.04(c)(vii), when used in Section 8.04. 

“Maturity”, when used with respect to any Bond, means the date on which the principal of such Bond or an installment of
principal or any sinking fund payment becomes due and payable as provided in such Bond or in this Indenture, whether at the Stated Maturity, by declaration of acceleration, upon call for redemption or otherwise. 

“Minor Loss” means a particular loss by reason of fire damage with respect to any Mortgaged Property in an amount which is
less than the greater of (i) as to any loss occurring in calendar year 2020, Fifty Million Dollars ($50,000,000); provided, that with respect to any loss occurring in any subsequent calendar year, such amount shall be increased by the same
percentage increase in the CPI Index for the period commencing on January 1, 2020 and ending on January 1 of the calendar year in which such loss occurs, and (ii) three percent (3%) of the principal amount of Bonds Outstanding on the
date of such particular loss. 
 “Miscellaneous Personalty” means all of those personal property assets that, pursuant to
the Company’s then current accounting methods, are retired or removed from the Company’s plant or other property account (in the absence of actual physical abandonment, destruction, loss, sale or other disposition of such personal property
assets) on the basis of the “vintage” or age of such personal property assets regardless of whether or not, subsequent to such retirement or removal, such personal property assets actually remain in use by the Company (referred to herein
as “vintage retirement”). The types of personal property assets constituting “Miscellaneous Personalty” may change from time to time and will be determined solely by whether or not, under the Company’s then current
accounting methods, such personal property assets are subject to vintage retirement as described above. 
 “Mitigation
Property” means those properties described in Exhibit B-4 hereto. 

“Mortgaged Property” means the property described in Granting Clause First through Granting Clause Sixth of this Indenture,
other than Excepted Property. 
 “Net Cost” means, with respect to Funded Property and Unfunded Property, as of the date of
calculation thereof, the Cost of such property, less, if such property is subject to a Senior Lien, the lesser of (i) the outstanding principal amount of any Senior Lien Obligations as of the date of calculation of such Cost or (ii) the
Cost of such property. 
 “Net Fair Value” means, with respect to Funded Property and Unfunded Property, as of the date of
calculation thereof, the Fair Value of such property, less, if such property is subject to a Senior Lien, the lesser of (i) the outstanding principal amount of any Senior Lien Obligations as of the date of calculation of such Fair Value or
(ii) the Fair Value of such property. 

  
 -15- 

 “Notice of Default” has the meaning specified in
Section 10.01(c). 
 “Officer’s Certificate” means a certificate signed by an Authorized
Officer and delivered to the Trustee. 
 “Opinion of Counsel” means a written opinion of counsel, who may be counsel for
the Company or other counsel acceptable to the Trustee and who may be an employee, an Affiliate or an employee of an Affiliate of the Company. 

“Outstanding”, when used with respect to Bonds, means, as of the date of determination, all Bonds theretofore authenticated
and delivered under this Indenture, except: 
 a) Bonds theretofore canceled or delivered to the Bond Registrar or the Trustee for
cancellation; 
 b) Bonds deemed to have been paid for all purposes of this Indenture in accordance with
Section 9.01 (whether or not the Company’s indebtedness in respect thereof shall be satisfied and discharged for any other purpose); and 

c) Bonds, the principal of, premium, if any, and interest, if any, on which have been fully paid pursuant to the third paragraph of
Section 3.06 or in exchange for or in lieu of which other Bonds have been authenticated and delivered pursuant to this Indenture, other than any such Bonds in respect of which there shall have been presented to the Trustee
proof satisfactory to it and the Company that such Bonds are held by a protected purchaser; 
 provided, however, that in
determining whether or not the Holders of the requisite principal amount of the Bonds Outstanding under this Indenture, or the Outstanding Bonds of any series or Tranche, have given any request, demand, authorization, direction, notice, consent or
waiver hereunder or whether or not a quorum is present at a meeting of Holders of Bonds, 
 (x) Bonds owned by the Company or
any other obligor upon the Bonds or any Affiliate of the Company or of such other obligor (unless the Company, such obligor and/or such Affiliate owns all Bonds Outstanding under this Indenture, or all Outstanding Bonds of each such series and each
such Tranche, as the case may be, determined without regard to this clause (x)) shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request,
demand, authorization, direction, notice, consent or waiver or upon any such determination as to the presence of a quorum, only Bonds which the Trustee actually knows to be so owned shall be so disregarded; provided, however, that
Bonds so owned which have been pledged in good faith may be regarded as Outstanding if it is established to the reasonable satisfaction of the Trustee that the pledgee, and not the Company, any such other obligor or Affiliate of either thereof, has
the right so to act with respect to such Bonds and that the pledgee is not the Company or any 

  
 -16- 

 
other obligor upon the Bonds or any Affiliate of the Company or of such other obligor; and provided, further, that in no event shall any Bond which shall have been delivered to
evidence, enhance or secure, in whole or in part, the Company’s obligations in respect of other indebtedness be deemed to be owned by the Company if the principal of such Bond is payable, whether at Stated Maturity or upon mandatory redemption,
at the same time as the principal of such other indebtedness is payable, whether at Stated Maturity or upon mandatory redemption or acceleration, but only to the extent of such portion of the principal amount of such Bond as does not exceed the
principal amount of such other indebtedness (and any such Bond described in this proviso may also evidence, enhance or secure, and the principal amount may include, the obligations of the Company under Swap Agreements and cash management agreements
but the principal amount of any such Bond that shall be deemed to be Outstanding at any time for all purposes of this Indenture shall be the principal amount thereof that corresponds to the principal amount of the other indebtedness); and 

(y) the principal amount of a Discount Bond that shall be deemed to be Outstanding for such purposes shall be the amount of the
principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 10.02; and 

provided, further, that, in the case of any Bond the principal of which is payable from time to time without presentment or
surrender, the principal amount of such Bond that shall be deemed to be Outstanding at any time for all purposes of this Indenture shall be the original principal amount thereof less the aggregate amount of principal thereof theretofore paid, unless
otherwise specified pursuant to Section 3.01. 
 “Paying Agent” means any Person, including the
Company, authorized by the Company to pay the principal of and premium, if any, or interest, if any, on any Bonds on behalf of the Company. 

“Periodic Offering” means an offering of Bonds of a series from time to time any or all of the specific terms of which Bonds,
including, without limitation, the rate or rates of interest, if any, thereon, the Stated Maturity or Maturities thereof and the redemption provisions, if any, with respect thereto, are to be determined by the Company or its agents from time to time
subsequent to the initial request for the authentication and delivery of such Bonds by the Trustee, all as contemplated in Section 3.01 and Section 5.01(b). 

“Permitted Liens” means, as of any particular time, any of the following: 

(a) to the extent the Company consolidates with, or merges into, another entity, Liens on the assets of such entity in existence on the date of
such consolidation or merger and securing debt of such entity, provided that such debt and Liens were not created or incurred in anticipation of such consolidation or merger and do not extend to any other Mortgaged Property of the Company in
existence immediately prior to the consolidation or merger; 

  
 -17- 

 (b) as to property acquired by the Company after the Execution Date, Liens existing or
placed thereon at the time of the acquisition thereof, provided that such Liens do not extend to any other Mortgaged Property; 
 (c) Liens
for taxes, assessments and other governmental charges or requirements which are not delinquent or which are being contested in good faith by appropriate proceedings; 

(d) mechanics’, workmen’s, vendors’, repairmen’s, materialmen’s, warehousemen’s and carriers’ Liens,
inchoate Liens, other Liens incident to construction, Liens or privileges of any employees of the Company for salary or wages earned, but not yet payable, and other Liens, including, without limitation, Liens for workers’ compensation awards,
arising in the ordinary course of business for charges or requirements which are not delinquent or which are being contested in good faith and by appropriate proceedings; 

(e) Liens in respect of attachments, judgments or awards arising out of judicial or administrative proceedings (i) in an amount not
exceeding the greater of (A) Ten Million Dollars ($10,000,000) to the extent in existence in calendar year 2020; provided, that, with respect to any such Liens in existence in any subsequent calendar year, such amount shall be increased by the
percentage increase in the CPI Index for the period commencing on January 1, 2020, and ending on January 1 of the applicable calendar year and (B) three percent (3%) of the principal amount of the Bonds then Outstanding or
(ii) with respect to which the Company shall (A) in good faith be prosecuting an appeal or other proceeding for review and with respect to which the Company shall have secured a stay of execution pending such appeal or other proceeding or
(B) have the right to prosecute an appeal or other proceeding for review; 
 (f) easements, encumbrances, leases, reservations,
restrictions or other rights of others in, on, over and/or across, and laws, regulations and restrictions affecting, and defects, irregularities, exceptions and limitations in title to, the Mortgaged Property or any part thereof; provided,
however, that such easements, encumbrances, leases, reservations, rights, laws, regulations, restrictions, defects, irregularities, exceptions and limitations (A) do not, in the opinion of the Company, materially impair the use by the
Company of the Mortgaged Property considered as a whole for the purposes for which it is held by the Company or (B) have been insured over by a lender’s policy of title insurance in favor of the Trustee, as mortgagee; 

(g) conservation easements granted by the Company in accordance with the Settlement Agreement of the Company as modified and approved by the
Public Utilities Commission of the State of California in its Opinion and Order of December 18, 2003 and the Stipulation Resolving Issues Regarding the Land Conservation Commitment, dated September 25, 2003, as filed with the Public
Utilities Commission of the State of California; 
 (h) defects, irregularities, exceptions and limitations in title to real property
subject to rights-of-way or other similar rights in favor of the Company or used or to be used by the Company primarily for right-of-way purposes or real property held under lease, easement, license or similar right; provided, however, that (i) the Company shall have obtained from the apparent owner or owners of
such real property a sufficient right, by the terms of the instrument granting such right-of-way, lease, easement, license or similar right, to the use thereof for the

  
 -18- 

 
purposes for which the Company acquired the same, (ii) such defects, irregularities, exceptions or limitations are subordinated to the interest of the Company in such real property;
(iii) the Company has power under eminent domain or similar statutes to remove such defects, irregularities, exceptions or limitations to the extent such defects, irregularities, exceptions or limitations affect the interest of the Company
therein, or (iv) such defects, irregularities, exceptions and limitations may be otherwise remedied without undue effort or expense; and defects, irregularities, exceptions and limitations in title to flood lands, flooding rights and/or water
rights; 
 (i) Liens upon real property or rights in or relating to real property for the purpose of the distribution of electricity or gas,
for the purpose of telephonic, telegraphic, radio, wireless or other electronic communication or otherwise for the purpose of obtaining rights-of-way, which Liens secure
or evidence indebtedness or other obligations neither created, assumed nor guaranteed by the Company nor on account of which it customarily pays interest; 

(j) leases, license, or occupancy agreements existing at the Execution Date, affecting Mortgaged Properties owned by the Company at said date
and renewals and extensions thereof; and leases, license, or occupancy agreements affecting such Mortgaged Properties entered into after the Execution Date or affecting Mortgaged Properties acquired by the Company after such date which, in either
case, (i) have respective terms of not more than ten (10) years (including extensions or renewals at the option of the tenant) or (ii) do not materially impair the use by the Company of such properties for the respective purposes for
which they are held by the Company; 
 (k) Liens vested in lessors, licensors, franchisors or permittors for rent or other amounts to become
due or for other obligations or acts to be performed, the payment of which rent or other amounts or the performance of which other obligations or acts is required under leases, subleases, licenses, franchises or permits, so long as the payment of
such rent or other amounts or the performance of such other obligations or acts is not delinquent or is being contested in good faith and by appropriate proceedings; 

(l) controls, restrictions, obligations, duties and/or other burdens imposed by federal, state, municipal or other law, or by rules,
regulations or orders of Governmental Authorities upon the Mortgaged Property or any part thereof or the operation or use thereof or upon the Company with respect to the Mortgaged Property or any part thereof or the operation or use thereof or with
respect to any franchise, grant, license, permit or public purpose requirement, or any rights reserved to or otherwise vested in Governmental Authorities to impose any such controls, restrictions, obligations, duties and/or other burdens; 

(m) rights which Governmental Authorities may have by virtue of franchises, grants, licenses, permits or contracts, or by virtue of law, to
purchase, recapture or designate a purchaser of or order the sale of the Mortgaged Property or any part thereof, to terminate franchises, grants, licenses, permits, contracts or other rights or to regulate the property and business of the Company;
and any and all obligations of the Company correlative to any such rights; 

  
 -19- 

 (n) Liens required by law or governmental regulations (i) as a condition to the
transaction of any business or the exercise of any privilege or license, (ii) to enable the Company to maintain self-insurance or to participate in any funds established to cover any insurance risks, (iii) in connection with workers’
compensation, unemployment insurance, social security, any pension or welfare benefit plan or (iv) to share in the privileges or benefits required for companies participating in one or more of the arrangements described in clauses
(ii) and (iii) above; 
 (o) Liens on the Mortgaged Property or any part thereof which are granted by the Company to secure
duties or public or statutory obligations or to secure, or serve in lieu of, surety, stay or appeal bonds; 
 (p) rights reserved to or
vested in others to take or receive any part of any coal, ore, gas, oil and other minerals, any timber and/or any electric capacity or energy, gas, water, steam and any other products, developed, produced, manufactured, generated, purchased or
otherwise acquired by the Company or by others on property of the Company; 
 (q) (i) rights and interests of Persons other than the Company
arising out of contracts, agreements and other instruments to which the Company is a party and which relate to the common ownership or joint use of property; and (ii) all Liens on the interests of Persons other than the Company in property
owned in common by such Persons and the Company if and to the extent that the enforcement of such Liens would not adversely affect the interests of the Company in such property in any material respect; 

(r) any restrictions on transfer or assignment and/or requirements of any assignee to qualify as a permitted transferee or assignee and/or a
public utility or public service corporation; 
 (s) any Liens (A) which have been bonded over for the full amount in dispute or
(B) for the payment of which other adequate security arrangements have been made; 
 (t) rights and interests granted pursuant to
Section 8.02(c); 
 (u) Prepaid Liens; 

(v) Purchase Money Liens on Mortgaged Property, but only to the extent the Company requests the subordination of the lien of this Indenture
pursuant to Section 8.11; 
 (w) Liens contemplated by the Plan; 

(x) any Lien incurred in connection with the issuance of Qualified Securitization Bonds; 

(y) [RESERVED]; 
 (z) any other
Liens which are in existence on the Execution Date and the aggregate principal amount thereof does not exceed Thirty Million Dollars ($30,000,000); 

  
 -20- 

 (aa) any other Liens of whatever nature or kind which then outstanding principal amounts do
not, in the aggregate, exceed Sixty Five Million Dollars ($65,000,000) to the extent in existence in calendar year 2020, provided that with respect to any such Liens in existence in any subsequent calendar year, such amount shall be increased by the
percentage increase in the CPI Index for the period commencing on January 1, 2020 and ending on January 1 of the applicable calendar year; and 

(bb) the Lien in favor of the Trustee pursuant to Section 11.07(c). 

“Person” means any individual, corporation, limited liability partnership, joint venture, trust or unincorporated
organization, or any other entity, whether or not a legal entity, or any Governmental Authority. 
 “Place of Payment”,
when used with respect to Bonds of any series, or any Tranche thereof, means the place or places, specified as contemplated by Section 3.01, at which the principal of and premium, if any, and interest, if any, on the Bonds
of such series or Tranche are payable, subject, in either case, to Section 7.02. 
 “Plan” means
the Debtors’ and Shareholder Proponents Joint Plan of Chapter 11 Reorganization Dated March 16, 2020 [Docket No. 6320] filed by the Company and PG&E Corporation with the United States Bankruptcy Court for the Northern
District of California (as may be modified, amended, or supplemented from time to time, and together with all exhibits and schedules thereto). 

“Pledged Securities” means securities which are made the basis for the authentication and delivery of Bonds under
Section 5.02, the release of Funded Property under Section 8.03 or the withdrawal of Funded Cash pursuant to Section 5.04 or Section 8.07. 

“Predecessor Bond” of any particular Bond means every previous Bond evidencing all or a portion of the same debt as that
evidenced by such particular Bond; and, for the purposes of this definition, any Bond authenticated and delivered under Section 3.06 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Bond shall be deemed
(to the extent lawful) to evidence the same debt as the mutilated, destroyed, lost or stolen Bond. 
 “Prepaid Lien” means
any Lien securing indebtedness for the payment, prepayment or redemption of which there shall have been irrevocably deposited in trust with the trustee or other holder of such Lien moneys and/or investment property which (together with the interest
reasonably expected to be earned from the investment and reinvestment in investment property of the moneys and/or the principal of and interest on the investment property so deposited) shall be sufficient for such purpose; provided,
however, that if such indebtedness is to be redeemed or otherwise prepaid prior to the Stated Maturity thereof, any notice requisite to such redemption or prepayment shall have been given in accordance with the instrument creating such Lien
or irrevocable instructions to give such notice shall have been given to such trustee or other holder. 
 “Property
Additions” has the meaning specified in Section 1.03. 

  
 -21- 

 “Property Additions Basis” means, with respect to any Property Additions
which constitute Unfunded Property, the lesser of the Net Cost or Net Fair Value to the Company of any such Property Additions as of the date such amount is certified to the Trustee in writing. 

“Purchase Money Lien” means, with respect to any property being acquired or disposed of by the Company or being released from
the lien of this Indenture, a Lien on such property which: 
 (a) is taken or retained by the transferor of such property to secure all or
part of the purchase price thereof; 
 (b) is granted to one or more Persons other than the transferor which, by making advances or
incurring an obligation, give value to enable the grantor of such Lien to acquire rights in or the use of such property; 
 (c) is granted
to any other Person in connection with the release of such property from the lien of this Indenture on the basis of the deposit with the Trustee of obligations secured by such Lien on such property (as well as any other property subject thereto);

 (d) is held by a trustee or agent for the benefit of one or more Persons described in clause (a), (b) and/or (c) above, provided
that such Lien may be held, in addition, for the benefit of one or more other Persons which shall have theretofore given, or may thereafter give, value to or for the benefit or account of the grantor of such Lien for one or more other purposes; or

 (e) otherwise constitutes a purchase money mortgage or a purchase money security interest under applicable law; 

and, without limiting the generality of the foregoing, for purposes of this Indenture, the term Purchase Money Lien shall be deemed to include any Lien
described in clauses (a) through (e) above whether or not such Lien (x) shall permit the issuance or other incurrence of additional indebtedness secured by such Lien on such property, (y) shall permit the subjection to
such Lien of additional property and the issuance or other incurrence of additional indebtedness on the basis thereof and/or (z) shall have been granted prior to the acquisition, disposition or release of such property, shall attach to or
otherwise cover property other than the property being acquired, disposed of or released and/or shall secure obligations issued prior and/or subsequent to the issuance of the obligations delivered in connection with such acquisition, disposition or
release, in each case so that the secured party may be cross-collateralized to other financings of the type described in clauses (a) through (e) above provided by such secured party or its affiliates. 

“Purchase Money Obligations” are those obligations secured by a Purchase Money Lien. 

“Qualified Securitization Bond Issuer” means, with respect to the Company, (i) the Company or (ii) a Subsidiary of
the Company formed and operating solely for the purpose of (A) purchasing and owning property created under a “financing order” (as such term is defined in the California Public Utilities Code) or similar order issued by the
California Public Utilities Commission, (B) issuing such securities pursuant to such order, (C) pledging its interests in such property to secure such securities and (D) engaging in activities ancillary to those described in (A), (B)
and (C). 

  
 -22- 

 “Qualified Securitization Bonds” of the Company means securities, however
denominated, that are (i) issued by a Qualified Securitization Bond Issuer, (ii) secured by or otherwise payable from charges authorized by the financing order referred to in clause (ii)(A) of the definition of “Qualified
Securitization Bond Issuer,” and (iii) non-recourse to the Company or any of its Subsidiaries (other than the issuer of such securities). 

“Redemption Date”, when used with respect to any Bond to be redeemed, means the date fixed for such redemption by or pursuant
to this Indenture. 
 “Redemption Price”, when used with respect to any Bond to be redeemed, means the price at which it is
to be redeemed pursuant to this Indenture which price shall include principal of and premium, if any, payable on such Bond but shall not include any accrued interest payable with respect to such Bond. 

“Regular Record Date” for the interest payable on any Interest Payment Date on the Bonds of any series means the date
specified for that purpose as contemplated by Section 3.01. 
 “Required Currency” has the
meaning specified in Section 3.11. 
 “Responsible Officer”, when used with respect to the
Trustee, means any officer of the Trustee with direct responsibility for the administration of this Indenture and also means, with respect to a particular corporate trust matter, any other officer of the Trustee to whom such matter is referred
because of such officer’s knowledge of and familiarity with the particular subject. 
 “Retired Bonds” means any Bonds
authenticated and delivered under this Indenture which (i) no longer remain Outstanding by reason of the applicability of clause (a) or (b) in the definition of “Outstanding” (other than any Predecessor Bond of any
Bond), (ii) have not been made the basis under any of the provisions of this Indenture of one or more Authorized Purposes and (iii) have not been paid, redeemed, purchased or otherwise retired by the application thereto of Funded Cash. 

“Senior Lien” means, with respect to all or any portion of the Mortgaged Property, a Permitted Lien which is prior to the
lien of this Indenture. 
 “Senior Lienholder” means any trustee or other holder of a Senior Lien. 

“Senior Lien Obligations” means any Purchase Money Obligation secured by a Purchase Money Lien that is a Senior Lien and any
other indebtedness of the Company for borrowed money secured by a Senior Lien. 
 “Significant Subsidiary” shall have the
meaning specified in Rule 1-02(w) of Regulation S-X under the Securities Act of 1933, as amended; provided that, (i) Significant Subsidiary shall not include any
Person, substantially all the assets of which are, or prior to the Release Date would have constituted, Excepted Property and (ii) Qualified Securitization Bond Issuers and Subsidiaries of Qualified Securitization Bond Issuers shall not be
deemed to be Significant Subsidiaries of the Company. 

  
 -23- 

 “Special Record Date” for the payment of any Defaulted Interest on the
Bonds of any series means a date fixed by the Trustee pursuant to Section 3.07. 
 “Stated Interest
Rate” means a rate (whether fixed or variable) at which an obligation by its terms is stated to bear simple interest. Any calculation or other determination to be made under this Indenture by reference to the Stated Interest Rate on an
obligation shall be made (a) if the Company’s obligations in respect of any other indebtedness shall be evidenced, enhanced or secured in whole or in part by such obligation, by reference to the lower of the Stated Interest Rate on such
obligation and the Stated Interest Rate on such other indebtedness and (b) without regard to the effective interest cost to the Company of such obligation or of any such other indebtedness. 

“Stated Maturity”, when used with respect to any obligation (including any Bond of any series) or any installment of
principal thereof or interest thereon, means the date on which the principal of such obligation or such installment of principal or interest is stated to be due and payable (without regard to any provisions for redemption, prepayment, acceleration,
purchase or extension). 
 “Subsidiary” means (i) any corporation at least a majority of the outstanding voting stock
or interest of which is owned, directly or indirectly, by the Company or by one or more Subsidiaries, or by the Company and one or more Subsidiaries or (ii) any other Person (other than a corporation) of which the Company and/or one or more
Subsidiaries has at least a majority ownership and power to direct the policies, management and affairs; provided, however, that Qualified Securitization Bonds Issuers and Subsidiaries of Qualified Securitization Bond Issuers shall not be deemed to
be Subsidiaries of the Company. For the purposes of this definition, “voting stock” means stock having voting power for the election of directors, whether at all times or only so long as no senior class of stock has such voting power by
reason of any contingency. 
 “Successor Corporation” has the meaning specified in Section 13.01.

 “Supplemental Indenture” or “Indenture Supplemental Hereto” means an instrument supplementing or
amending this Indenture executed and delivered pursuant to Article XIV. 
 “Surplus Property” means those properties
described in Exhibit B-5 hereto. 
 “Swap Agreement” means any agreement
with respect to any swap, forward, future 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. 

“Tranche” means a group of Bonds which (a) are of the same series and (b) have identical terms except as to
principal amount, date of issuance, initial Interest Payment Date and/or initial interest accrual date. 

  
 -24- 

 “Trust Indenture Act” means, as of any time, the Trust Indenture Act of
1939 or any successor statute, as in effect at such time. 
 “Trustee” means the Person named as the “Trustee” in
the first paragraph of this Indenture until a successor trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean the Person which shall have become a successor trustee
pursuant to the applicable provisions of this Indenture, and, if at any time there is more than one Person acting as trustee hereunder, “Trustee” shall mean each such Person so acting. 

“Unfunded Property” means that portion of the Mortgaged Property which does not constitute Funded Property or Funded Cash.

 “United States” means the United States of America, its territories, its possessions and other areas subject to its
political jurisdiction. 
  

	SECTION	 1.02. FUNDED PROPERTY; FUNDED CASH. 

“Funded Property” means that portion of the Mortgaged Property which consists of: 

(a) all Property Additions to the extent that the same shall have been made the basis of the authentication and delivery of Bonds under this
Indenture pursuant to Section 5.02; 
 (b) all Property Additions to the extent that the same shall have been made
the basis of the release of Funded Property from the lien of this Indenture pursuant to Section 8.03; 
 (c) all
Property Additions to the extent that the same shall have been substituted for Funded Property Retired pursuant to Section 7.07 or 8.02; 

(d) all Property Additions to the extent that the same shall have been made the basis of the withdrawal of cash held by the Trustee pursuant
to Section 5.04, 7.07(b) or 8.07; and 
 (e) all Property Additions to the extent that the same
shall have been used as the basis of a credit against, or otherwise in satisfaction of, the requirements of any sinking, improvement, maintenance, replacement or similar fund or analogous provision established with respect to the Bonds of any
series, or any Tranche thereof, as contemplated by Section 3.01; provided, however, that any such Property Additions shall cease to be Funded Property when all of the Bonds of such series or Tranche shall
cease to be Outstanding. 
 In the event that in any certificate filed with the Trustee in connection with any of the Property Additions
referred to in clauses (a), (b), (c), (d) and (e) of this Section, only a part of the Property Additions Basis of the Property Additions described in such certificate shall be required for the purposes of such
certificate, then such Property Additions shall be deemed to be Funded Property only to the extent so required for the purpose of such certificate. 

  
 -25- 

 The Company may make allocations, on a pro-rata or
other reasonable basis (including, but not limited to, the designation of specific properties or the designation of all or a specified portion of the properties reflected in one or more generic accounts or subaccounts in the Company’s books of
account), for the purpose of determining the extent to which fungible properties, or other properties not otherwise identified, reflected in the same generic account or subaccount in the Company’s books of account (collectively, “generic
properties”) constitute Funded Property or Funded Property Retired. To the extent that such generic properties within any such generic account or subaccount constitute in part Funded Property and in part Unfunded Property, (i) any
disposition of such generic properties shall, unless otherwise specified by the Company, be deemed to be a disposition of that portion of the generic properties which constitutes Unfunded Property prior to any disposition of such portion which
constitutes Funded Property and (ii) any addition of property to such generic account or subaccount shall, unless otherwise specified by the Company, be deemed to be Unfunded Property. 

“Funded Cash” means that portion of the Mortgaged Property which consists of: 

(a) cash, held by the Trustee hereunder, to the extent that it represents the proceeds of insurance on account of a loss on or with respect to
Funded Property (except as otherwise provided in Section 7.07), or cash deposited in connection with the release of Funded Property pursuant to Article VIII, or the payment of the principal of, or the proceeds of the
release of, Purchase Money Obligations delivered to the Trustee pursuant to Article VIII, all subject, however, to the provisions of Section 7.07 and Section 8.07; and 

(b) any Deposited Cash. 
  

	SECTION 	 1.03. PROPERTY ADDITIONS; COST. 

(a) “Property Additions” means, as of any particular time, any item, unit or element of property which (i) at such time
is owned by the Company, and (ii) constitutes Mortgaged Property; provided, however, that Property Additions shall not include: 

(i) goodwill, going concern value rights or intangible property except as provided in subsection (c) of this
Section; or 
 (ii) any property the cost of acquisition or construction of which is, in accordance with generally accepted
accounting principles, properly chargeable to an operating expense account of the Company at the time of such acquisition or construction. 

(b) When any Property Additions which constitute Unfunded Property are certified to the Trustee as the basis of any Authorized Purpose (except
as otherwise provided in Section 8.03 and Section 8.07), 
 (i) there
shall be deducted from the Property Additions Basis thereof an amount equal to the Funded Property Basis of all Funded Property Retired to the date of such certification (other than the Funded Property, if any, in connection with the application for
the release of which such certificate is filed) and not theretofore deducted from the Property Additions Basis of Property Additions theretofore certified to the Trustee, and 

  
 -26- 

 (ii) there may, at the option of the Company, be added to such Property
Additions Basis, the sum of 
 (A) the principal amount of any Purchase Money Obligations, not theretofore so added and which
the Company then elects so to add, which shall theretofore have been delivered to the Trustee as the basis of the release of Funded Property Retired from the lien of this Indenture; 

(B) ten-sevenths (10/7ths) of the amount of any cash, not theretofore so added and
which the Company then elects so to add, which shall theretofore have been delivered to the Trustee as the proceeds of insurance on Funded Property Retired (to the extent of the portion thereof deemed to be Funded Cash) or as the basis of the
release of Funded Property Retired from the lien of this Indenture; 
 (C)
ten-sevenths (10/7ths) of the principal amount of any Bond or Bonds, or portion of such principal amount, not theretofore so added and which the Company then elects so to add, (I) which shall theretofore
have been delivered to the Trustee as the basis of the release of Funded Property Retired or (II) the right to the authentication and delivery of which under the provisions of Section 5.03 shall at any time theretofore
have been waived under Section 8.03(d)(ii)(C) as the basis of the release of Funded Property Retired; 

(D) the Adjusted Funded Property Basis of any Property Additions, not theretofore so added and which the Company then elects so
to add, which shall theretofore have been made the basis of the release of Funded Property Retired pursuant to Section 8.03; and 

(E) the Net Cost to the Company of any Property Additions, not theretofore so added and which the Company then elects so to
add, to the extent that the same shall have been substituted for Funded Property Retired; 
 provided, however, that the aggregate of the
amounts added under clause (ii) above shall in no event exceed the amounts deducted under clause (i) above. 
 (c)
Except as otherwise provided in Section 8.03, the term “Cost” with respect to Property Additions shall mean the sum of (i) any cash delivered in payment therefor or for the acquisition thereof, (ii) an
amount equivalent to the fair market value in cash (as of the date of delivery) of any securities or other property delivered in payment therefor or for the acquisition thereof, (iii) the principal amount of any obligations secured by a Lien
upon such Property Additions outstanding at the time of the acquisition thereof, (iv) the principal amount of any other obligations incurred or assumed in connection with the payment for such Property Additions or for the acquisition thereof,
which obligations are not otherwise secured by a Lien on such Property Additions, and (v) any other amounts which, in accordance with generally accepted accounting principles, are properly charged or chargeable to the plant or other property
accounts of the Company with respect to such Property Additions as part of the cost of construction or acquisition thereof, including, but not limited to, any allowance for funds used during construction or any similar or analogous amount, and
construction work in progress; provided, however, that, notwithstanding any other provision of this Indenture, 

  
 -27- 

 (A) with respect to Property Additions owned by a Successor Corporation
immediately prior to the time it shall have become such by consolidation or merger or acquired by a Successor Corporation in or as a result of a consolidation or merger (excluding, in any case, Property Additions owned by the Company immediately
prior to such time), Cost shall mean the amount or amounts at which such Property Additions are recorded in the plant or other property accounts of such Successor Corporation, or the predecessor entity from which such Property Additions are
acquired, as the case may be, immediately prior to such consolidation or merger; 
 (B) with respect to Property Additions
which shall have been acquired (otherwise than by construction) by the Company without any consideration consisting of cash, securities or other property or the incurring or assumption of indebtedness, no determination of Cost shall be required,
and, wherever in this Indenture provision is made for Cost or Fair Value, Cost with respect to such Property Additions shall mean an amount equal to the Fair Value to the Company thereof or, if greater, the aggregate amount reflected in the
Company’s books of account with respect thereto upon the acquisition thereof; and 
 (C) in no event shall the Cost of
Property Additions be required to reflect (i) any depreciation or amortization in respect of such Property Additions, (ii) any adjustment to the amount or amounts at which such Property Additions are recorded in plant or other property
accounts due to the non-recoverability of investment or otherwise, or (iii) at the election of the Company, reductions for contributions in aid of construction. 

If any Property Additions are shown by the Expert’s Certificate provided for in Section 5.02(b)(ii) to include
Acquired Facilities, the Cost thereof need not be reduced by any amount in respect of any goodwill, going concern value rights and/or intangible property simultaneously acquired for which no separate or distinct consideration shall have been paid or
apportioned, and in such case the term Property Additions as defined herein may include such goodwill, going concern value rights and intangible property. 

SECTION 1.04.  COMPLIANCE CERTIFICATES AND OPINIONS. 

Except as otherwise expressly provided in this Indenture, upon any application or request by the Company to the Trustee to take any action
under any provision of this Indenture, the Company shall furnish to the Trustee an Officer’s Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with and
an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, it being understood that in the case of any such application or request as to which the furnishing of such documents is
specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 

  
 -28- 

 Every certificate or opinion with respect to compliance with a condition or covenant
provided for in this Indenture (other than the certificates provided pursuant to Section 7.10) shall include: 

(a) a statement that each Person signing such certificate or opinion has read such covenant or condition and the definitions herein relating
thereto; 
 (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (c) a statement that, in the opinion of each such Person, such Person has made such
examination or investigation as is necessary to enable such Person to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(d) a statement as to whether, in the opinion of each such Person, such condition or covenant has been complied with. 

SECTION  1.05.  CONTENT AND FORM OF DOCUMENTS DELIVERED TO TRUSTEE. 

Any Officer’s Certificate may be based (without further examination or investigation), insofar as it relates to or is dependent upon legal
matters, upon an opinion of, or representations by, counsel, and, insofar as it relates to or is dependent upon matters which are subject to verification by Accountants, upon a certificate or opinion of, or representations by, an Accountant, and,
insofar as it relates to or is dependent upon matters which are required in this Indenture to be covered by a certificate or opinion of, or representations by, an Expert, upon the certificate or opinion of, or representations by, an Expert, unless,
in any case, such officer has actual knowledge that the certificate or opinion or representations with respect to the matters upon which such Officer’s Certificate may be based as aforesaid are erroneous. 

Any Expert’s Certificate may be based (without further examination or investigation), insofar as it relates to or is dependent upon legal
matters, upon an opinion of, or representations by, counsel, and insofar as it relates to or is dependent upon factual matters, information with respect to which is in the possession of the Company and which are not subject to verification by
Experts, upon a certificate or opinion of, or representations by, an officer or officers of the Company, unless such Expert has actual knowledge that the certificate or opinion or representations with respect to the matters upon which his
certificate or opinion may be based as aforesaid are erroneous. 
 Any certificate of an Accountant may be based (without further
examination or investigation), insofar as it relates to or is dependent upon legal matters, upon an opinion of, or representations by, counsel, and insofar as it relates to or is dependent upon factual matters, information with respect to which is
in the possession of the Company and which are not subject to verification by Accountants, upon a certificate of, or representations by, an officer or officers of the Company, unless such Accountant has actual knowledge that the certificate or
opinion or representations with respect to the matters upon which his certificate or opinion may be based as aforesaid are erroneous. 

  
 -29- 

 Any Opinion of Counsel may be based (without further examination or investigation), insofar
as it relates to or is dependent upon factual matters, information with respect to which is in the possession of the Company, upon a certificate of, or representations by, an officer or officers of the Company, and, insofar as it relates to or is
dependent upon matters which are subject to verification by Accountants, upon a certificate or opinion of, or representations by, an Accountant, and, insofar as it relates to or is dependent upon matters required in this Indenture to be covered by a
certificate or opinion of, or representations by, an Expert, upon the certificate or opinion of, or representations by, an Expert, unless such counsel has actual knowledge that the certificate or opinion or representations with respect to the
matters upon which his opinion may be based as aforesaid are erroneous. In addition, any Opinion of Counsel may be based (without further examination or investigation), insofar as it relates to or is dependent upon matters covered in an Opinion of
Counsel rendered by other counsel, upon such other Opinion of Counsel, unless such counsel has actual knowledge that the Opinion of Counsel rendered by such other counsel with respect to the matters upon which his Opinion of Counsel may be based as
aforesaid are erroneous. Further, any Opinion of Counsel with respect to the status of title to or the sufficiency of descriptions of property, and/or the existence, perfection or priority of Liens thereon, and/or the recording or filing of
documents, and/or any similar matters, may be based (without further examination or investigation) upon (i) title insurance policies or commitments and reports, abstracts of title or lien search reports or certificates and other similar
documents or (ii) certificates of, or representations by, officers, employees, agents and/or other representatives of the Company or (iii) any combination of the documents referred to in (i) and (ii), unless, in any case, such counsel
has actual knowledge that the document or documents with respect to the matters upon which his opinion may be based as aforesaid are erroneous. If, in order to render any Opinion of Counsel provided for herein, the signer thereof shall deem it
necessary that additional facts or matters be stated in any Officer’s Certificate, certificate of an Accountant or Expert’s Certificate provided for herein, then such certificate may state all such additional facts or matters as the signer
of such Opinion of Counsel may request. 
 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. Where (i) any Person is required to make, give or execute
two or more applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture or (ii) two or more Persons are each required to make, give or execute any such application, request, consent,
certificate, statement, opinion or other instrument, any such applications, requests, consents, certificates, statements, opinions or other instruments may, but need not, be consolidated and form one instrument. 

  
 -30- 

 Whenever, subsequent to the receipt by the Trustee of any Board Resolution, Officer’s
Certificate, Expert’s Certificate, Opinion of Counsel or other document or instrument, a clerical, typographical or other inadvertent or unintentional error or omission shall be discovered therein, a new document or instrument may be
substituted therefor in corrected form with the same force and effect as if originally filed in the corrected form and, irrespective of the date or dates of the actual execution and/or delivery thereof, such substitute document or instrument shall
be deemed to have been executed and/or delivered as of the date or dates required with respect to the document or instrument for which it is substituted. Anything in this Indenture to the contrary notwithstanding, if any such corrective document or
instrument indicates that action has been taken by or at the request of the Company which could not have been taken had the original document or instrument not contained such error or omission, the action so taken shall not be invalidated or
otherwise rendered ineffective but shall be and remain in full force and effect, except to the extent that such action was a result of willful misconduct or bad faith. Without limiting the generality of the foregoing, any Bonds issued under the
authority of such defective document or instrument shall nevertheless be the valid obligations of the Company entitled to the benefit of the lien of this Indenture equally and ratably with all other Outstanding Bonds, except as aforesaid. 

SECTION 1.06. ACTS OF HOLDERS. 

(a) Any request, demand, authorization, direction, notice, consent, election, waiver or other action provided by this Indenture to be made,
given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing or, alternatively, may be embodied in and evidenced by the
record of Holders voting in favor thereof, either in person or by proxies duly appointed in writing, at any meeting of Holders duly called and held in accordance with the provisions of Article XV, or a combination of such instruments and any
such record. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such
instrument or instruments and any such record (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders signing such instrument or instruments and so voting at any such meeting.
Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any Person of a Bond, shall be sufficient for any purpose of this Indenture and (subject to Section 11.01) conclusive
in favor of the Trustee and the Company, if made in the manner provided in this Section. The record of any meeting of Holders shall be proved in the manner provided in Section 15.06. 

(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof or may be proved in any
other manner which the Trustee and the Company deem sufficient. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. 

(c) The ownership, principal amount (except as otherwise contemplated in clause (y) of the first proviso to the definition of
Outstanding) and serial numbers of Bonds held by any Person, and the date of holding the same, shall be proved by the Bond Register. 

  
 -31- 

 (d) Any request, demand, authorization, direction, notice, consent, election, waiver or
other Act of a Holder shall bind every future Holder of the same Bond and the Holder of every Bond issued upon the registration of transfer 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 Company in reliance thereon, whether or not notation of such action is made upon such Bond. 
 (e) Until such
time as written instruments shall have been delivered to the Trustee with respect to the requisite percentage of principal amount of Bonds for the action contemplated by such instruments, any such instrument executed and delivered by or on behalf of
a Holder may be revoked with respect to any or all of such Bonds by written notice by such Holder or any subsequent Holder, proven in the manner in which such instrument was proven. 

(f) Bonds of any series, or any Tranche thereof, authenticated and delivered after any Act of Holders may, and shall if required by the
Trustee, bear a notation in form approved by the Trustee as to any action taken by such Act of Holders. If the Company shall so determine, new Bonds of any series, or any Tranche thereof, so modified as to conform, in the opinion of the Trustee and
the Company, to such action may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Bonds of such series or Tranche. 

(g) The Company may, at its option, by Company Order, fix in advance a record date for the determination of Holders entitled to give any
request, demand, authorization, direction, notice, consent, waiver or other Act solicited by the Company, but the Company shall have no obligation to do so. In addition, the Trustee may, at its option, fix in advance a record date for the
determination of Holders entitled to join in the giving or making of any Notice of Default, any declaration of acceleration referred to in Section 10.02, any request to institute proceedings referred to in
Section 10.11 or any direction referred to in Section 10.16. If any such record date is fixed, such request, demand, authorization, direction, notice, consent, waiver or other Act, or such notice,
declaration, request or direction, may be given before or after such record date, but only the Holders of record at the close of business on the record date shall be deemed to be Holders for the purposes of determining (i) whether Holders of
the requisite proportion of the Outstanding Bonds have authorized or agreed or consented to such Act (and for that purpose the Outstanding Bonds shall be computed as of the record date) and/or (ii) which Holders may revoke any such Act
(notwithstanding subsection (e) of this Section); and any such Act, given as aforesaid, shall be effective whether or not the Holders which authorized or agreed or consented to such Act remain Holders after such record date and whether
or not the Bonds held by such Holders remain Outstanding after such record date. 
 SECTION 1.07. NOTICES, ETC. TO TRUSTEE AND COMPANY.

 Except as otherwise provided herein, any request, demand, authorization, direction, notice, consent, election, waiver or Act of
Holders or other document provided or permitted by this Indenture to be made or served upon, given or furnished to, or filed with, the Trustee by any Holder or by the Company, or the Company by the Trustee or by any Holder, shall be sufficient for
every purpose hereunder (unless otherwise expressly provided herein) if the same shall be in writing and delivered personally to the addressee (which delivery, with respect to the Trustee, shall be made to its Corporate Trust Office and addressed to
the attention of the Corporate Trust 

  
 -32- 

 
Department), or transmitted by facsimile transmission or other direct written electronic means to such telephone number or other electronic communications address as the parties hereto shall from
time to time designate, or transmitted by registered or certified mail, return receipt requested, or overnight courier guaranteeing next day delivery, charges prepaid, to the applicable address set forth opposite such party’s name below or to
such other address as either party hereto may from time to time designate: 
 If to the Trustee, to: 

The Bank of New York Mellon Trust Company, N.A. 

400 South Hope Street, Suite 500 

Los Angeles, CA 90071 Attention: Global Corporate Trust Unit 

Fax: (213) 630-6298 

If to the Company, to: 

Pacific Gas and Electric Company 

77 Beale Street 

P.O. Box 770000 

San Francisco, California 94177 

Attention: Treasurer and Assistant Treasurer 

Fax: (415) 973-4343/267-7265 

Any communication contemplated herein shall be deemed to have been made, given, furnished and filed if personally delivered, on the date of
delivery, if transmitted by facsimile transmission or other direct written electronic means, on the date of transmission, and if transmitted by registered or certified mail or reputable overnight courier, on the date of receipt. 

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by the Company by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods; provided, however, that (a) subsequent to such transmission of written instructions, the Company shall provide the originally
executed instructions or directions to the Trustee in a timely manner, and (b) such originally executed instructions or directions shall be signed by an authorized representative of the Company providing such instructions or directions. If the
Company elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s
understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions
notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee,
including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties. 

  
 -33- 

 Notwithstanding any other provision of this Indenture or any Bond, where this Indenture or
any Bond provides for notice of any event or any other communication (including any notice of redemption or repurchase) to a holder of a Global Bond (whether by mail or otherwise), such notice shall be sufficiently given if given to the Depositary
(or its designee) pursuant to the standing instructions from the Depositary or its designee, including by electronic mail in accordance with accepted practices at the Depositary. 

SECTION 1.08. NOTICE TO HOLDERS OF BONDS; WAIVER. 

Except as otherwise expressly provided herein, where this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given, and shall be deemed given, to Holders if in writing and sent to each Holder affected by such event, at the address of such Holder as it appears in the Bond Register (or, with respect to Global Bonds, in accordance with the
Depositary’s applicable policies and procedures), not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. 

In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable to give such notice to
Holders by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. In any case where notice to Holders is given by mail, neither the failure to mail such
notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders. 

Any notice required by this Indenture may be waived in writing by the Person entitled to receive such notice, either before or after the event
otherwise to be specified therein, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in
reliance upon such waiver. 
 SECTION 1.09. CONFLICT WITH TRUST INDENTURE ACT. 

If any provision of this Indenture limits, qualifies or conflicts with another provision hereof which is required or deemed to be included in
this Indenture by any provision of the Trust Indenture Act, the provision required or deemed to be included by the Trust Indenture Act shall control; and if any provision hereof otherwise conflicts with the Trust Indenture Act, or limits, qualifies
or conflicts with the duties imposed by Section 318(c) of the Trust Indenture Act, the Trust Indenture Act, including the duties imposed by Section 318(c) of the Trust Indenture Act, shall control. 

SECTION 1.10. EFFECT OF HEADINGS AND TABLE OF CONTENTS. 

The Article and Section headings in this Indenture and the Table of Contents are for convenience only and shall not affect the construction
hereof. 
 SECTION 1.11. SUCCESSORS AND ASSIGNS. 

All covenants and agreements in this Indenture by the Company and the Trustee shall bind their respective successors and assigns, whether so
expressed or not. 

  
 -34- 

 SECTION 1.12. SEPARABILITY CLAUSE. 

In case any provision in this Indenture or the Bonds shall be held to 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 1.13. BENEFITS OF INDENTURE.

 Nothing in this Indenture or the Bonds, express or implied, shall give to any Person, other than the parties hereto, their successors
hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Indenture. 
 SECTION 1.14. GOVERNING LAW.

 This Indenture and the Bonds shall be governed by, and construed and enforced in accordance with, the laws of the State of New York
(including without limitation Section 5-1401 of the New York General Obligations Law or any successor to such statute), except to the extent that the Trust Indenture Act shall be applicable, provided that
the law of the jurisdiction in which the Mortgaged Property consisting of real property is located shall govern the creation of a mortgage lien on and security interest in, or perfection, priority or enforcement of the Lien of this Indenture or
exercise of remedies with respect to, such portion of the Mortgaged Property. 
 SECTION 1.15. LEGAL HOLIDAYS. 

In any case where any Interest Payment Date, Redemption Date or Stated Maturity of any Bond shall not be a Business Day at any Place of
Payment, then (notwithstanding any other provision of this Indenture or of the Bonds other than a provision in Bonds of any series, or any Tranche thereof, or in the indenture supplemental hereto, Board Resolution or Officer’s Certificate which
establishes the terms of the Bonds of such series or Tranche, which specifically states that such provision shall apply in lieu of this Section) payment of interest or principal and premium, if any, need not be made at such Place of Payment on such
date, but may be made on the next succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Stated Maturity, and, if such payment is made or duly provided
for on such Business Day, no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date, Redemption Date or Stated Maturity, as the case may be, to such Business Day. 

SECTION 1.16. INVESTMENT OF CASH HELD BY TRUSTEE. 

Any cash held by the Trustee or any Paying Agent under any provision of this Indenture shall, except as otherwise provided in
Section 8.06 or in Article IX, at the request of the Company evidenced by Company Order, be invested or reinvested in Investment Securities designated by the Company (such Company Order to contain a representation to
the effect that the securities designated therein constitute Investment Securities), and any interest on such Investment Securities shall be promptly paid over to the Company as received free and clear of any Lien. Such Investment Securities shall
be held subject to the same provisions hereof as the cash used to purchase the same, but upon a like written request of the Company shall be sold, in whole or in designated part, and the proceeds of such sale shall be held subject to the same

  
 -35- 

 
provisions hereof as the cash used to purchase the Investment Securities so sold. If such sale shall produce a net sum less than the cost of the Investment Securities so sold, the Company shall
pay to the Trustee or any such Paying Agent, as the case may be, such amount in cash as, together with the net proceeds from such sale, shall equal the cost of the Investment Securities so sold, and if such sale shall produce a net sum greater than
the cost of the Investment Securities so sold, the Trustee or any such Paying Agent, as the case may be, shall promptly pay over to the Company an amount in cash equal to such excess, free and clear of any Lien. In no event shall the Trustee be
liable for determining whether any investment fits within the criteria set forth in “Investment Securities” or for any loss incurred in connection with the sale of any Investment Security pursuant to this Section. In the absence of a
Company Order directing the Trustee to invest cash held by the Trustee hereunder, funds shall remain univested until the Trustee shall have received a Company Order directing the Trustee to invest such cash in another Investment Security. The
Trustee shall not be accountable or liable for any losses resulting from the sale or depreciation in the market value of investments made pursuant to this Indenture and Company Orders. 

Notwithstanding the foregoing, if an Event of Default shall have occurred and be continuing, interest on Investment Securities and any gain
upon the sale thereof shall be held as part of the Mortgaged Property until such Event of Default shall have been cured or waived, whereupon such interest and gain shall be promptly paid over to the Company free and clear of any Lien. 

SECTION 1.17. WAIVER OF JURY TRIAL. 

EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY
JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE BONDS OF ANY SERIES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 1.18. FOREIGN ACCOUNT TAX COMPLIANCE ACT (FATCA). 

The Company agrees (i) to provide the Trustee with such reasonable information as it has in its possession to enable the Trustee to
determine whether any payments pursuant to the Indenture are subject to the withholding requirements described in Section 1471(b) of the Internal Revenue Code or otherwise imposed pursuant to Sections 1471 through 1474 of the Internal Revenue
Code and any regulations, or agreements thereunder or official interpretations thereof (“Applicable Law”), and (ii) that the Trustee shall be entitled to make any withholding or deduction from payments under the Indenture to
the extent necessary to comply with Applicable Law, for which the Trustee shall not have any liability. 
 SECTION 1.19. FORCE MAJEURE.

 In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder
arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and 

  
 -36- 

 
interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are
consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

ARTICLE II 
 BOND FORMS

 SECTION 2.01. FORMS GENERALLY. 

The definitive Bonds of each series shall be in substantially the form or forms established in the indenture supplemental hereto establishing
such series, or in a Board Resolution establishing such series, or in an Officer’s Certificate pursuant to such a supplemental indenture or Board Resolution, in any case with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or
as may, consistently herewith, be determined by the officers executing such Bonds, as evidenced by their execution of the Bonds. If the form or forms of Bonds of any series are established in a Board Resolution or in an Officer’s Certificate
pursuant to a supplemental indenture or a Board Resolution, such Board Resolution and Officer’s Certificate, if any, shall be delivered to the Trustee at or prior to the delivery of the Company Order contemplated by
Section 5.01 for the authentication and delivery of such Bonds. 
 Unless otherwise specified as contemplated by
Section 3.01, the Bonds of each series shall be issuable in registered form without coupons. The definitive Bonds shall be produced in such manner as shall be determined by the officers executing such Bonds, as evidenced by their execution
thereof. 
 SECTION 2.02. FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION. 

The Trustee’s certificate of authentication shall be in substantially the form set forth below: 

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

 

			
	The Bank of New York Mellon Trust Company, N.A., as Trustee
		
	By:	 	 
		 	Authorized Signatory

  
 -37- 

 ARTICLE III 

THE BONDS 
 SECTION 3.01. AMOUNT
UNLIMITED; ISSUABLE IN SERIES. 
 Subject to the provisions of Article V, the aggregate principal amount of Bonds which may be
authenticated and delivered under this Indenture is unlimited. 
 The Bonds may be issued in one or more series. Subject to the penultimate
paragraph of this Section, prior to the authentication and delivery of Bonds of any series there shall be established by specification in a supplemental indenture or in a Board Resolution, or in an Officer’s Certificate pursuant to a
supplemental indenture or a Board Resolution: 
 (a) the title of the Bonds of such series (which shall distinguish the Bonds of such series
from Bonds of all other series) and, if other than the date of its authentication, the date of each Bond of such series; 
 (b) any limit
upon the aggregate principal amount of the Bonds of such series which may be authenticated and delivered under this Indenture (except for Bonds authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Bonds of such series pursuant to Section 3.04, 3.05, 3.06, 6.06 or 14.06 and except for any Bonds which, pursuant to Section 3.03, are deemed never to have been
authenticated and delivered hereunder); 
 (c) the Persons (without specific identification) to whom interest on Bonds of such series, or
any Tranche thereof, shall be payable on any Interest Payment Date, if other than the Persons in whose names such Bonds (or one or more Predecessor Bonds) are registered at the close of business on the Regular Record Date for such interest; 

(d) the date or dates on which the principal of the Bonds of such series, or any Tranche thereof, is payable or any formula or other method or
other means by which such date or dates shall be determined, by reference to an index or other fact or event ascertainable outside of this Indenture or otherwise (without regard to any provisions for redemption, prepayment, acceleration, purchase or
extension) and the right, if any, to extend the Maturity of the Bonds of such series, or any Tranche thereof, and the duration of any such extension; 

(e) the rate or rates (or method of determination thereof) at which any Bonds of such series, or any Tranche thereof, shall bear interest, if
any (including the rate or rates at which overdue principal shall bear interest, if different from the rate or rates at which such Bonds shall bear interest prior to Maturity, and, if applicable, the rate or rates at which overdue premium or
interest shall bear interest, if any), or any formula or other method or other means by which such rate or rates shall be determined, by reference to an index or other fact or event ascertainable outside of this Indenture or otherwise; the date or
dates from which any such interest shall accrue (or method of determination thereof); the Interest Payment Dates on which any such interest shall be payable (or method of determination thereof) and the Regular Record Date, if any (which, in either
case or both, if so provided in or pursuant to such Board Resolution or supplemental indenture, may be determined by the Company from time to time and set forth in the Bonds of such series, or any Tranche thereof, issued from time to time) for any
such interest payable on any Interest Payment Date; the basis of computation of interest if other than as provided in Section 3.10; and the right, if any, to extend the interest payment periods and the duration of any such
extension; 

  
 -38- 

 (f) the place or places at which and/or the methods (if other than as provided elsewhere in
this Indenture) by which (i) the principal of and premium, if any, and interest, if any, on Bonds of such series, or any Tranche thereof, shall be payable, (ii) registration of transfer of Bonds of such series, or any Tranche thereof, may
be effected, (iii) exchanges of Bonds of such series, or any Tranche thereof, may be effected and (iv) notices and demands to or upon the Company in respect of the Bonds of such series, or any Tranche thereof, and this Indenture may be
made, given, furnished, filed or served, if other than as provided in Section 1.07; the Bond Registrar and any Paying Agent or Agents for such series or Tranche; and, if such is the case, that the principal of such Bonds
shall be payable without the presentment or surrender thereof; 
 (g) if the time for the giving of redemption notices for such series of
Bonds, or any Tranche thereof, shall be other than as provided in Section 6.04, such different time, and the period or periods within which or the date or dates on which, the price or prices at which and the terms and
conditions upon which the Bonds of such series, or any Tranche thereof, may be redeemed, in whole or in part, at the option of the Company (including, without limitation, any provision for the payment of a “make-whole”, yield-maintenance
or similar premium in connection with the redemption of Bonds of such series during a “no-call” or other period during which such Bonds are generally not subject to optional redemption by the
Company) and any restrictions on such redemptions; 
 (h) the obligation or obligations, if any, of the Company to redeem, purchase or repay
the Bonds of such series, or any Tranche thereof, pursuant to any sinking fund or other mandatory redemption provisions or at the option of a Holder thereof and the period or periods within which or the date or dates on which, the price or prices at
which and the terms and conditions upon which such Bonds shall be redeemed, purchased or repaid, in whole or in part, pursuant to such obligation, and applicable exceptions to the requirements of Section 6.04 in the case of
mandatory redemption or redemption or repayment at the option of the Holder; 
 (i) the denominations in which Bonds of such series, or any
Tranche thereof, shall be issuable if other than denominations of One Thousand Dollars ($1,000) and any integral multiple thereof; 
 (j)
the currency or currencies, including composite currencies, in which payment of the principal of and premium, if any, and interest, if any, on the Bonds of such series, or any Tranche thereof, shall be payable (if other than in Dollars); it being
understood that, for purposes of calculations under this Indenture (including calculations of principal amount under Article V), any amounts denominated in a currency other than Dollars or in a composite currency shall be converted to Dollar
equivalents by calculating the amount of Dollars which could have been purchased by the amount of such other currency based on such quotations or methods of determination as shall be specified pursuant to this clause (j); 

  
 -39- 

 (k) if the principal of or premium, if any, or interest, if any, on the Bonds of such
series, or any Tranche thereof, are to be payable, at the election of the Company or a Holder thereof, in a coin or currency other than that in which the Bonds are stated to be payable, the coin or currency in which payment of any amount as to which
such election is made will be payable, the period or periods within which, and the terms and conditions upon which, such election may be made; it being understood that, for purposes of calculations under this Indenture (including calculations of
principal amount under Article V), any such election shall be required to be taken into account, in the manner contemplated in clause (j) of this paragraph, only after such election shall have been made; 

(l) if the principal of or premium, if any, or interest, if any, on the Bonds of such series, or any Tranche thereof, are to be payable, or
are to be payable at the election of the Company or a Holder thereof, in securities or other property, the type and amount of such securities or other property, or the formula or other method or other means by which such amount shall be determined,
and the period or periods within which, and the terms and conditions upon which, any such election may be made; it being understood that all calculations under this Indenture (including calculations of principal amount under Article V) shall
be made on the basis of the fair market value of such securities or the Fair Value of such other property, in either case determined as of the most recent practicable date, except that, in the case of any amount of principal or interest that may be
so payable at the election of the Company or a Holder, if such election shall not yet have been made, such calculations shall be made on the basis of the amount of principal or interest, as the case may be, that would be payable if no such election
were made; 
 (m) if the amount payable in respect of principal of or premium, if any, or interest, if any, on the Bonds of such series, or
any Tranche thereof, may be determined with reference to an index, formula or other fact or event ascertainable outside of this Indenture, the manner in which such amounts shall be determined (to the extent not established pursuant to clause
(e) of this paragraph); it being understood that all calculations under this Indenture (including calculations of principal amount under Article V) shall be made on the basis of the amount that would be payable as principal if such
principal were due, or on the basis of the interest rates in effect, as the case may be, on the date next preceding the date of such calculation; 

(n) if other than the entire principal amount thereof, the portion of the principal amount of Bonds of such series, or any Tranche thereof,
which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 10.02; 
 (o)
the terms, if any, pursuant to which the Bonds of such series, or any Tranche thereof, may be converted into or exchanged for shares of capital stock or other securities of the Company or any other Person; 

(p) the obligations or instruments, if any, which shall be considered to be Eligible Obligations in respect of the Bonds of such series, or
any Tranche thereof, denominated in a currency other than Dollars or in a composite currency, and any additional or alternative provisions for the reinstatement of the Company’s indebtedness in respect of such Bonds after the satisfaction and
discharge thereof as provided in Section 9.01; 

  
 -40- 

 (q) (i) whether the Bonds of such series, or any Tranche thereof, are to be issued as Global
Bonds and if such Bonds are to be issued as Global Bonds, the Depositary for such Global Bonds, (ii) any limitations on the rights of the Holder or Holders of such Bonds to transfer or exchange the same or to obtain the registration of transfer
thereof, if other than as provided in Section 3.05, (iii) any limitations on the rights of the Holder or Holders thereof to obtain certificates therefor in definitive form in lieu of temporary form, and (iv) any and
all other matters incidental to such Bonds; 
 (r) to the extent not established pursuant to clause (q) of this paragraph, any
limitations on the rights of the Holders of the Bonds of such Series, or any Tranche thereof, to transfer or exchange such Bonds or to obtain the registration of transfer thereof; and if a service charge will be made for the registration of transfer
or exchange of Bonds of such series, or any Tranche thereof, the amount or terms thereof; 
 (s) any exceptions to
Section 1.15, or variation in the definition of Business Day, with respect to the Bonds of such series, or any Tranche thereof; 

(t) if the principal of Bonds of such series is payable from time to time without presentation or surrender, any method or manner of
calculating the principal amount of Bonds of such series that is Outstanding at any time for purposes of this Indenture, if other than as specified in the last proviso of the definition of “Outstanding”; 

(u) provisions, if any, for the exchange of certificates representing Bonds to reflect the effectiveness of the lien of this Indenture on the
Lien Effective Date, and any other changes necessary to reflect the effectiveness of the lien of this Indenture on the Lien Effective Date; and 

(v) any other terms of the Bonds of such series, or any Tranche thereof. 

With respect to Bonds of a series subject to a Periodic Offering, the indenture supplemental hereto or the Board Resolution which establishes
such series, or the Officer’s Certificate pursuant to such supplemental indenture or Board Resolution, as the case may be, may provide general terms or parameters for Bonds of such series and provide either that the specific terms of Bonds of
such series, or any Tranche thereof, shall be specified in a Company Order or that such terms shall be determined by the Company or its agents in accordance with procedures specified in a Company Order as contemplated by
Section 5.01(b). 
 Unless otherwise provided with respect to a series of Bonds as contemplated in clause
(b) of Section 3.01, the aggregate principal amount of a series of Bonds may be increased and additional Bonds of such series may be issued up to the maximum aggregate principal amount, if any, authorized with
respect to such series as increased. 
 Anything herein to the contrary notwithstanding, the Trustee shall be under no obligation to
authenticate and deliver Bonds of any series the terms of which, established as contemplated by this Section, would adversely affect the rights, duties, obligations, liabilities or immunities of the Trustee under this Indenture or otherwise. 

  
 -41- 

 SECTION 3.02. DENOMINATIONS. 

Unless otherwise provided as contemplated by Section 3.01 with respect to any series of Bonds, or any Tranche
thereof, the Bonds of each series shall be issuable in denominations of One Thousand Dollars ($1,000) and any integral multiple thereof. 

SECTION 3.03. EXECUTION, DATING, CERTIFICATE OF AUTHENTICATION. 

Unless otherwise provided as contemplated by Section 3.01 with respect to any series of Bonds, or any Tranche
thereof, the Bonds shall be executed on behalf of the Company by any two of the following: the President, the Chief Executive Officer, any Vice President, the Chief Financial Officer, the Treasurer or any Assistant Treasurer. The corporate seal of
the Company may be affixed thereto or reproduced thereon and attested by the Company’s Corporate Secretary or any other officer of the Company as permitted by the Company’s bylaws. The signature of any or all of these officers on the Bonds
may be manual, electronic or facsimile. 
 Bonds bearing the manual, electronic or facsimile signatures of individuals who were at the time
of execution the President, the Chief Executive Officer, a Vice President, the Chief Financial Officer, the Treasurer or an Assistant Treasurer of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased
to hold such offices prior to the authentication and delivery of such Bonds or did not hold such offices at the date of such Bonds. 

Unless otherwise specified as contemplated by Section 3.01 with respect to any series of Bonds, or any Tranche
thereof, each Bond shall be dated the date of its authentication. 
 Unless otherwise specified as contemplated by
Section 3.01 with respect to any series of Bonds, or any Tranche thereof, no Bond shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Bond a
certificate of authentication substantially in the form provided for herein executed by the Trustee or an Authenticating Agent by manual signature of an authorized officer thereof, and such certificate upon any Bond shall be conclusive evidence, and
the only evidence, that such Bond has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if any Bond shall have been authenticated and delivered hereunder to the Company,
or any Person acting on its behalf, but shall never have been issued and sold (or pledged) by the Company, and (a) the Company shall deliver such Bond to the Bond Registrar for cancellation or shall cancel such Bond and deliver evidence of such
cancellation to the Trustee, in each case as provided in Section 3.09, and (b) the Company, at its election, shall deliver to the Trustee a written statement (which need not comply with
Section 1.04 and need not be accompanied by an Officer’s Certificate or an Opinion of Counsel) stating that such Bond has never been issued and sold (or pledged) by the Company, then, for all purposes of this
Indenture, such Bond shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits hereof. 

  
 -42- 

 SECTION 3.04. TEMPORARY BONDS. 

Pending the preparation of definitive Bonds of any series, or any Tranche thereof, the Company may execute, and upon Company Order the Trustee
shall authenticate and deliver, temporary Bonds which are printed, lithographed, typewritten, mimeographed, photocopied or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Bonds in lieu of which they
are issued, with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Bonds may determine, as evidenced by their execution of such Bonds. 

Except as otherwise specified as contemplated by Section 3.01 with respect to the Bonds of any series, or any
Tranche thereof, after the preparation of definitive Bonds of such series or Tranche, the temporary Bonds of such series or Tranche shall be exchangeable, without charge to the Holder thereof, for definitive Bonds of such series or Tranche upon
surrender of such temporary Bonds at the office or agency of the Company maintained pursuant to Section 7.02 in a Place of Payment for such Bonds. Upon such surrender of temporary Bonds, the Company shall, except as
otherwise specified as contemplated by Section 3.01, execute and the Trustee shall authenticate and deliver in exchange therefor definitive Bonds of the same series and Tranche, of authorized denominations and of like tenor
and aggregate principal amount. 
 Until exchanged in full as hereinabove provided, temporary Bonds shall in all respects be entitled to the
same benefits under this Indenture as definitive Bonds of the same series and Tranche and of like tenor authenticated and delivered hereunder. 

SECTION 3.05. REGISTRATION, REGISTRATION OF TRANSFER AND EXCHANGE. 

The Company shall cause to be kept in one of the offices designated pursuant to Section 7.02, with respect to the
Bonds of each series, or any Tranche thereof, a register (the “Bond Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Bonds of such series or Tranche
and the registration of transfer thereof. Pursuant to Section 3.01(f), the Company shall designate one Person to maintain the Bond Register for the Bonds of each series, and such Person is referred to herein, with respect
to such series, as the “Bond Registrar.” Anything herein to the contrary notwithstanding, the Company may designate one or more of its offices, or one or more offices of any of its Affiliates, as an office in which a Bond Register
with respect to the Bonds of one or more series, or any Tranche or Tranches thereof, shall be maintained, and the Company may designate itself or any Affiliate the Bond Registrar with respect to one or more of such series. The Bond Register(s) shall
be open for inspection by the Trustee and the Company at all reasonable times. Unless otherwise specified in or pursuant to this Indenture or the Bonds, the Trustee shall be the initial Bond Registrar for each series of Bonds. 

Except as otherwise specified as contemplated by Section 3.01 with respect to the Bonds of any series, or any
Tranche thereof, and except as provided below with respect to Global Bonds, upon surrender for registration of transfer of any Bond of such series or Tranche at the office or agency of the Company maintained pursuant to
Section 7.02 in a Place of Payment for such series or Tranche, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Bonds of the
same series and Tranche, of authorized denominations and of like tenor and aggregate principal amount. 

  
 -43- 

 Except as otherwise specified as contemplated by Section 3.01 with
respect to the Bonds of any series, or any Tranche thereof, any Bond of such series or Tranche may be exchanged at the option of the Holder, for one or more new Bonds of the same series and Tranche, of authorized denominations and of like tenor and
aggregate principal amount, upon surrender of the Bonds to be exchanged at any such office or agency. Whenever any Bonds are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Bonds which the
Holder making the exchange is entitled to receive. 
 All Bonds delivered upon any registration of transfer or exchange of Bonds shall be
valid obligations of the Company, evidencing the same obligation, and entitled to the same benefits under this Indenture, as the Bonds surrendered upon such registration of transfer or exchange. Every Bond presented or surrendered for registration
of transfer shall be duly endorsed or shall be accompanied by a written instrument of transfer in form satisfactory to the Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder thereof or his attorney duly
authorized in writing. Every Bond presented or surrendered for exchange shall (if so required by the Company, the Trustee or the Bond Registrar) be duly endorsed or shall be accompanied by a written instrument of transfer in form satisfactory to the
Company, the Trustee or the Bond Registrar, as the case may be, duly executed by the Holder thereof or such Holder’s attorney duly authorized in writing. 

Unless otherwise specified as contemplated by Section 3.01 with respect to Bonds of any series, or any Tranche
thereof, no service charge shall be made for any registration of transfer or exchange of Bonds, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any
registration of transfer or exchange of Bonds, other than exchanges pursuant to Section 3.04, 6.06 or 14.06 not involving any transfer. 

The Company shall not be required to execute or to provide for the registration of transfer of or the exchange of (a) Bonds of any
series, or any Tranche thereof, during a period of fifteen (15) days immediately preceding the date notice is to be given identifying the serial numbers (or with respect to Global Bonds, CUSIP numbers) of the Bonds of such series or Tranche
called for redemption or (b) any Bond so selected for redemption in whole or in part, except the unredeemed portion of any Bond being redeemed in part. 

SECTION 3.06. MUTILATED, DESTROYED, LOST AND STOLEN BONDS. 

If any mutilated Bond is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and deliver in exchange
therefor a new Bond of the same series and Tranche, and of like tenor and principal amount and bearing a number not contemporaneously outstanding. 

If there shall be delivered to the Company and the Trustee (a) evidence to their satisfaction of the ownership of and the destruction,
loss or theft of any Bond and (b) such security and/or indemnity as may be reasonably required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Bond is
held by a protected purchaser, the Company shall execute and the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Bond, a new Bond of the same series and Tranche, and of like tenor and principal amount and
bearing a number not contemporaneously outstanding. 

  
 -44- 

 Notwithstanding the foregoing, in case any such mutilated, destroyed, lost or stolen Bond
has become or is about to become due and payable, the Company in its discretion may, but subject to compliance with the foregoing conditions, instead of issuing a new Bond, pay such Bond. 

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

Every new Bond of any series issued pursuant to this Section in lieu of any destroyed, lost or stolen Bond shall constitute an additional
contractual obligation of the Company, whether or not the destroyed, lost or stolen Bond shall be at any time enforceable by anyone other than the Holder of such new Bond, and any such new Bond shall be entitled to all the benefits of this Indenture
equally and proportionately with any and all other Bonds of such series duly issued hereunder. 
 The provisions of this Section are
exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Bonds. 

SECTION 3.07. PAYMENT OF INTEREST; INTEREST RIGHTS PRESERVED. 

Unless otherwise specified as contemplated by Section 3.01 with respect to the Bonds of any series, or any Tranche
thereof, interest on any Bond which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Bond (or one or more Predecessor Bonds) is registered at the close of business
on the Regular Record Date for such interest, except that, unless otherwise provided in the Bonds of such series, interest payable on the Stated Maturity of the principal of a Bond shall be paid to the Person to whom principal is paid. The initial
payment of interest on any Bond of any series which is issued between a Regular Record Date and the related Interest Payment Date shall be payable as provided in such Bond or in a Board Resolution, Officer’s Certificate or supplemental
indenture pursuant to Section 3.01 with respect to the related series of Bonds. Except in the case of a Global Bond (such interest to be paid in accordance with the Depositary’s applicable policies and procedures) at
the option of the Company, interest on any series of Bonds may be paid by (i) check mailed to the address of the Person entitled thereto as it shall appear on the Bond Register of such series or (ii) wire transfer in immediately available
funds at such place and to such account as designated in writing by the Person entitled thereto as specified in the Bond Register of such series. 

  
 -45- 

 Any interest on any Bond of any series which is payable, but is not punctually paid or duly
provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the related Regular Record Date by virtue of having been such Holder, and such Defaulted Interest
may be paid by the Company, at its election in each case, as provided in clause (a) or (b) below: 
 (a) The Company may
elect to make payment of any Defaulted Interest to the Persons in whose names the Bonds of such series (or their respective Predecessor Bonds) are registered at the close of business on a date (herein called a “Special Record Date”)
for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Bond of such series and the date of the
proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for
such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special
Record Date for the payment of such Defaulted Interest which shall be not more than thirty (30) days and not less than ten (10) days prior to the date of the proposed payment and not less than twenty-five (25) days after the receipt
by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall, not less than fifteen (15) days prior to such Special
Record Date, cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of Bonds of such series. Notice of the proposed payment of such Defaulted Interest and the Special Record
Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names the Bonds of such series (or their respective Predecessor Bonds) are registered at the close of business on such Special Record Date. 

(b) The Company may make payment of any Defaulted Interest on the Bonds of any series in any other lawful manner not inconsistent with the
requirements of any securities exchange on which such Bonds may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of
payment shall be deemed practicable by the Trustee. 
 Subject to the foregoing provisions of this Section and
Section 3.05, each Bond delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Bond shall carry the rights to interest accrued and unpaid, and to accrue, which were
carried by such other Bond. 
 SECTION 3.08. PERSONS DEEMED OWNERS. 

Prior to due presentment of a Bond for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat
the Person in whose name any Bond is registered as the absolute owner of such Bond for the purpose of receiving payment of principal of and premium, if any, and (subject to Sections 3.05 and 3.07) interest, if any, on such Bond and for
all other purposes whatsoever, whether or not such Bond be overdue, and none of the Company, the Trustee or any agent of the Company or the Trustee shall be affected by notice to the contrary. 

  
 -46- 

 SECTION 3.09. CANCELLATION BY BOND REGISTRAR. 

All Bonds surrendered for payment, redemption, registration of transfer or exchange shall, if surrendered to any Person other than the Bond
Registrar, be delivered to the Bond Registrar and, if not theretofore canceled, shall be promptly canceled by the Bond Registrar. The Company may at any time deliver to the Bond Registrar for cancellation any Bonds previously authenticated and
delivered hereunder which the Company may have acquired in any manner whatsoever or which the Company shall not have issued and sold (or pledged), and all Bonds so delivered shall be promptly canceled by the Bond Registrar. No Bonds shall be
authenticated in lieu of or in exchange for any Bonds canceled as provided in this Section, except as expressly permitted by this Indenture. All canceled Bonds held by the Bond Registrar shall be disposed of in accordance with the Bond
Registrar’s then customary practice for disposing of securities, unless otherwise directed by a Company Order. 

SECTION 3.10. COMPUTATION OF INTEREST. 

Except as otherwise specified as contemplated by Section 3.01 for Bonds of any series, or any Tranche thereof,
interest on the Bonds of each series shall be computed on the basis of a three hundred sixty (360) day year consisting of twelve (12) thirty (30) day months and, with respect to any period less than a full calendar month, on the basis of
the actual number of days elapsed during such period. 
 SECTION 3.11. PAYMENT TO BE IN PROPER CURRENCY. 

In the case of the Bonds of any series, or any Tranche thereof, denominated in any currency other than Dollars or in a composite currency (the
“Required Currency”), except as otherwise specified with respect to such Bonds as contemplated by Section 3.01, the obligation of the Company to make any payment of the principal thereof, or the premium, if any, or interest, if
any, thereon, shall not be discharged or satisfied by any tender by the Company in any currency other than the Required Currency, except to the extent that such tender shall result in the applicable Paying Agent timely holding the full amount of the
Required Currency then due and payable. If any such tender is in a currency other than the Required Currency, an exchange rate agent appointed by the Company may take such actions as it considers appropriate to exchange such currency for the
Required Currency. The costs and risks of any such exchange, including without limitation the risks of delay and exchange rate fluctuation, shall be borne by the Company and the Company shall remain fully liable for any shortfall or delinquency in
the full amount of Required Currency then due and payable. 
 SECTION 3.12. CUSIP NUMBERS. 

The Company, in issuing the Bonds, may use “CUSIP” or other similar numbers (if then generally in use), and, if so, the Trustee or
Bond Registrar may use CUSIP or such other numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Bonds or
as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Bonds, in which case none of the Company or, as the case may be, the Trustee or the Bond Registrar, or any agent of
any of them, shall have any liability in respect of any CUSIP number used on any such notice, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the Trustee of any change in
the CUSIP numbers. 

  
 -47- 

 SECTION 3.13. EXTENSION OF INTEREST PAYMENT. 

The Company shall have the right at any time, to extend interest payment periods on all the Bonds of any series hereunder, if so specified as
contemplated by Section 3.01 with respect to such Bonds and upon such terms as may be specified as contemplated by Section 3.01 with respect to such Bonds. 

SECTION 3.14. GLOBAL BONDS. 

If the Company shall establish pursuant to Section 3.01(q) that the Bonds of a series, or a Tranche thereof, are to
be issued in whole or in part in the form of one or more Global Bonds, then the Company shall execute and the Trustee shall, in accordance with this Section and the Company Order with respect to such series or Tranche, authenticate and deliver one
or more Global Bonds in temporary or permanent form that (i) shall represent and shall be denominated in an aggregate amount equal to the aggregate principal amount of the Outstanding Bonds of such series or Tranche, to be represented by one or
more Global Bonds, (ii) shall be registered in the name of the Depositary for such Global Bond or Bonds or the nominee of such Depositary, (iii) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s
instruction or held by the Trustee as custodian for the Depositary, and (iv) shall bear a legend substantially to the following effect: “Unless and until it is exchanged in whole or in part for Bonds in definitive form, this Bond may not
be transferred except as a whole by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a
nominee of such successor Depositary.” 
 ARTICLE IV 

LIEN EFFECTIVE DATE 
 SECTION 4.01.

 The security interest in, and lien on, the Mortgaged Property pursuant to this Indenture shall become effective on a date (the
“Lien Effective Date”), which shall be the date of delivery by the Company to the Trustee of each of the following: 
 (a)
An Officer’s Certificate stating that, prior to or concurrently with the Lien Effective Date: 
 (i) The Effective Date
has occurred; and 
 (ii) Any further security documents required to create the Lien in the Mortgaged Property will be
executed and delivered (to the extent any such document is required to be delivered on such date). 

  
 -48- 

 (b) A Company Order requesting execution and delivery by the Trustee of a supplemental
indenture (such Company Order to be accompanied by the documents required by Section 1.04 hereof), if deemed necessary or desirable by Company to effectuate the lien of this Indenture, and such other instruments (in form and substance
reasonably satisfactory to the Trustee) as the Company may deem necessary or desirable to effectuate the lien of this Indenture; and 
 (c)
An Officer’s Certificate stating that, to the knowledge of the signer, no Event of Default has occurred and is continuing. 
 Upon the
occurrence of the Lien Effective Date, the Trustee shall, at the sole cost and expense of the Company, promptly (i) execute and deliver to the order of the Company the documents and instruments (in form and substance reasonably satisfactory to
the Trustee) that the Company deems reasonably necessary to effectuate the lien of this Indenture and (ii) execute and deliver to the Company such deeds, and other documents and instruments (in form and substance reasonably satisfactory to the
Trustee) as, in the judgment of the Company, shall be necessary, desirable or appropriate to effect or evidence the lien of this Indenture. 

Upon the occurrence of the Lien Effective Date and notwithstanding any other provision of this Indenture or the Bonds, all Bonds,
automatically and without any further action by the Company, the Trustee, or any Holders, shall be secured by the Mortgaged Property and shall constitute secured obligations of the Company, and the provisions of this Indenture and the Bonds shall be
construed consistently with the status of the Bonds as secured obligations of the Company. 
 The Company shall, as promptly as practicable
after the occurrence of the Lien Effective Date, give notice to all Holders of the occurrence of the Lien Effective Date in the same manner as a notice of redemption and disseminate a press release through a public medium as is customary for such a
press release announcing the effectiveness of the lien of the Indenture as a result of the Lien Effective Date. 
 ARTICLE V 

ISSUANCE OF BONDS 

SECTION 5.01. GENERAL. 

Subject to the provisions of Section 5.02, 5.03 or 5.04, whichever may be applicable, the Trustee shall
authenticate and deliver Bonds of a series, for original issue, at one time or from time to time in accordance with the Company Order referred to below, upon receipt by the Trustee of: 

(a) the instrument or instruments establishing the form or forms and terms of such series, as provided in Sections 2.01 and
3.01; 

  
 -49- 

 (b) a Company Order requesting the authentication and delivery of such Bonds and, to the
extent that the terms of such Bonds shall not have been established in an indenture supplemental hereto or in a Board Resolution, or in an Officer’s Certificate pursuant to a supplemental indenture or Board Resolution, all as contemplated by
Section 3.01, either (i) establishing such terms or (ii) in the case of Bonds of a series subject to a Periodic Offering, specifying procedures by which such terms are to be established (which procedures may
provide for authentication and delivery pursuant to oral or electronic instructions from the Company or any agent or agents thereof, which oral instructions are to be promptly confirmed electronically or in writing), in either case in accordance
with the instrument or instruments delivered pursuant to clause (a) above; 
 (c) the Bonds of such series, executed on behalf
of the Company by an officer specified in Section 3.03; 
 (d) an Opinion of Counsel to the effect that: 

(i) the form or forms of such Bonds have been duly authorized by the Company and have been established in conformity with the
provisions of this Indenture; 
 (ii) the terms of such Bonds have been duly authorized by the Company and have been
established in conformity with the provisions of this Indenture; and 
 (iii) when such Bonds shall have been authenticated
and delivered by the Trustee and issued and delivered by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, such Bonds will have been duly issued under this Indenture, will constitute valid obligations of
the Company enforceable in accordance with their terms, subject to laws relating to or affecting generally the enforcement of mortgagees’ and other creditors’ rights, including, without limitation, bankruptcy and insolvency laws, and to
general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), and will be entitled to the benefits provided by this Indenture; 

provided, however, that, with respect to Bonds of a series subject to a Periodic Offering, the Trustee shall be entitled to receive such Opinion
of Counsel only once at or prior to the time of the first authentication and delivery of such Bonds (provided that such Opinion of Counsel addresses the authentication and delivery of all such Bonds) and that, in lieu of the opinions described in
clauses (ii) and (iii) above, counsel may opine that: 
 (x) when the terms of such Bonds shall have been
established pursuant to a Company Order or Orders or pursuant to such procedures as may be specified from time to time by a Company Order or Orders, all as contemplated by and in accordance with the instrument or instruments delivered pursuant to
clause (a) above, such terms will have been duly authorized by the Company and will have been established in conformity with the provisions of this Indenture; and 

(y) when such Bonds shall have been authenticated and delivered by the Trustee in accordance with this Indenture and the
Company Order or Orders or the specified procedures referred to in paragraph (x) above and issued and delivered by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, such Bonds will have been duly
issued under this 

  
 -50- 

 
Indenture, will constitute valid obligations of the Company enforceable in accordance with their terms, subject to laws relating to or affecting generally the enforcement of mortgagees’ and
other creditors’ rights, including, without limitation, bankruptcy and insolvency laws, and to general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law), and will be entitled to
the benefits provided by this Indenture ; 
 (e) an Officer’s Certificate to the effect that, to the knowledge of the signer, no Event
of Default has occurred and is continuing; provided, however, that with respect to Bonds of a series subject to a Periodic Offering, either (i) such an Officer’s Certificate shall be delivered at the time of the
authentication and delivery of each Bond of such series or (ii) the Officer’s Certificate delivered at or prior to the time of the first authentication and delivery of the Bonds of such series shall state that the statements therein shall
be deemed to be made at the time of each, or each subsequent, authentication and delivery of Bonds of such series; and 
 (f) such other
Opinions of Counsel, certificates and other documents as may be required under Section 5.02, 5.03 or 5.04, whichever may be applicable to the authentication and delivery of the Bonds of such series. 

SECTION 5.02. ISSUANCE OF BONDS ON THE BASIS OF PROPERTY ADDITIONS. 

(a) Bonds of any one or more series may be authenticated and delivered on the basis of Property Additions which, prior to the issuance of such
Bonds, constitute Unfunded Property, in a principal amount not exceeding seventy percent (70%) of the Adjusted Property Additions Basis of such Property Additions. 

(b) Bonds of any series shall be authenticated and delivered by the Trustee on the basis of Property Additions which, prior to the issuance of
such Bonds, constitute Unfunded Property, upon receipt by the Trustee of: 
 (i) the documents with respect to the Bonds of
such series specified in Section 5.01; 
 (ii) an Expert’s Certificate dated as of a date not
more than ninety (90) days prior to the date of the Company Order requesting the authentication and delivery of such Bonds, substantially in the form attached hereto as Schedule 1, 

(A) describing all property constituting Property Additions and designated by the Company, in its discretion, to be made the
basis of the authentication and delivery of such Bonds (such description of property to be made by reference, at the election of the Company, either to specified items, units and/or elements of property or portions thereof, on a percentage or Dollar
basis, or to properties reflected in specified accounts or subaccounts in the Company’s books of account or portions thereof, on a Dollar basis), and stating that all such property constitutes Property Additions; 

  
 -51- 

 (B) stating (I) the Cost of such Property Additions, (II) to the
extent such Property Additions are subject to a Senior Lien securing Senior Lien Obligations, the outstanding principal amount of such Senior Lien Obligations as of the date of such certificate, and (III) the Net Cost of such Property
Additions; 
 (C) stating that such Property Additions are desirable for use in the conduct of the business, or one of the
businesses, of the Company; 
 (D) stating that such Property Additions, to the extent of the Property Additions Basis
thereof that is to be made the basis of the authentication and delivery of such Bonds, constitute, prior to the issuance of such Bonds, Unfunded Property; 

(E) stating, except as to such Property Additions acquired, made or constructed wholly through the delivery of securities or
property other than cash, the amount of cash forming all or part of the Cost thereof; 
 (F) briefly describing, with respect
to any Property Additions acquired, made or constructed in whole or in part through the delivery of securities or property other than cash, the securities or other property so delivered, stating the date of such delivery and stating, in the judgment
of the signers, the fair market value in cash of such securities or other property at the time of delivery thereof in payment for the acquisition or construction of such Property Additions; 

(G) stating what part, if any, of such Property Additions includes property which constitutes an Acquired Facility and stating
whether or not, in the judgment of the signers, the Fair Value to the Company of any such Acquired Facility, as of the date of such certificate, is a De Minimis Amount; 

(H) stating (I) in the judgment of the signers, the Fair Value to the Company, as of the date of such certificate, of such
Property Additions, except any thereof with respect to the Fair Value to the Company of which a statement is to be made in an Independent Expert’s Certificate pursuant to clause (iii) below, and (II) the Net Fair Value of such
Property Additions; 
 (I) if any property included in such Property Additions is subject to a Lien of the character
described (x) in clause (f) of the definition of Permitted Liens, stating that such Lien does not, in the judgment of the signers, materially impair the use by the Company of the Mortgaged Property considered as a whole for the
purposes for which it is held by the Company, or (y) in clause (j)(ii) of the definition of Permitted Liens, stating that such Lien does not, in the judgment of the signers, materially impair the use by the Company of such Mortgaged
Property for the purposes for which it is held by the Company or (z) in clause (q)(ii) of the definition of Permitted Liens, stating that the enforcement of such Lien would not, in the judgment of the signers, adversely affect the
interests of the Company in such Mortgaged Property in any material respect; 

  
 -52- 

 (J) stating the amount required to be deducted under
Section 1.03(b)(i) and the amounts elected to be added under Section 1.03(b)(ii) in respect of Funded Property Retired of the Company; 

(K) stating the Adjusted Property Additions Basis of such Property Additions; 

(L) stating the amount equal to seventy percent (70%) of the Adjusted Property Additions Basis stated pursuant to clause
(K) above; and 
 (M) stating the aggregate principal amount of the Bonds to be authenticated and delivered on the
basis of such Property Additions (such amount not to exceed the amount stated pursuant to clause (L) above); 

(iii) if any Property Additions are shown by the Expert’s Certificate provided for in clause (ii) above to
include property which constitutes an Acquired Facility or Pledged Securities and such certificate does not show the Fair Value thereof to the Company as of the date of such certificate to be a De Minimis Amount, an Independent Expert’s
Certificate stating, in the judgment of the signer, the Fair Value to the Company, as of the date of such Independent Expert’s Certificate, of (X) such Property Additions which constitute an Acquired Facility and (at the option of the
Company) as to any other Property Additions included in the Expert’s Certificate provided for in clause (ii) above, (Y) such Pledged Securities, and (Z) in case such Independent Expert’s Certificate is being
delivered in connection with the authentication and delivery of Bonds, any other Acquired Facility or Pledged Securities which have been subjected to the lien of this Indenture since the commencement of the then current calendar year as the basis
for the authentication and delivery of Bonds and as to which an Independent Expert’s Certificate has not previously been furnished to the Trustee; 

(iv) an Opinion of Counsel to the effect that: 

(A) this Indenture creates, or upon the taking of actions specified in said opinion, will create a lien on all the Property
Additions to be made the basis of the authentication and delivery of such Bonds, subject, to the knowledge of such counsel, to no Lien thereon prior to the lien of this Indenture, except Permitted Liens; and 

(B) the Company has corporate authority to operate such Property Additions; and 

(v) copies of the instruments of conveyance, assignment and transfer, if any, specified in the Opinion of Counsel provided for
in clause (iv) above. 
 SECTION 5.03. ISSUANCE OF BONDS ON THE BASIS OF RETIRED BONDS. 

(a) Bonds of any one or more series may be authenticated and delivered on the basis of, and in an aggregate principal amount not exceeding the
aggregate principal amount of, Retired Bonds. 

  
 -53- 

 (b) Bonds of any series shall be authenticated and delivered by the Trustee on the basis of
Retired Bonds upon receipt by the Trustee of: 
 (i) the documents with respect to the Bonds of such series specified in
Section 5.01; and 
 (ii) an Officer’s Certificate stating that (1) Bonds, specified by
series, in an aggregate principal amount not less than the aggregate principal amount of Bonds to be authenticated and delivered on the basis of Retired Bonds pursuant to this Section 5.03, have theretofore been
authenticated and delivered, (2) such Bonds are the basis for the authentication and delivery of Bonds pursuant to this Section 5.03, and (3) such Bonds constitute Retired Bonds as of the date of such
Officer’s Certificate or concurrently with the authentication and delivery of the Bonds will constitute Retired Bonds. 

SECTION 5.04. ISSUANCE OF BONDS ON THE BASIS OF DEPOSIT OF CASH. 

(a) Bonds of any one or more series may be authenticated and delivered on the basis of, and in an aggregate principal not exceeding the amount
of, any deposit with the Trustee of cash for such purpose. 
 (b) Bonds of any series shall be authenticated and delivered by the Trustee on
the basis of the deposit of cash when the Trustee shall have received, in addition to such deposit, the documents with respect to the Bonds of such series specified in Section 5.01. 

(c) All cash deposited with the Trustee under the provisions of this Section (herein referred to as “Deposited Cash”) shall
be held by the Trustee, shall constitute Mortgaged Property and may be withdrawn from time to time by the Company free and clear of any Lien, upon delivery of a Company Order to the Trustee, in an amount equal to the aggregate principal amount of
Bonds to the authentication and delivery of which the Company shall be entitled under Section 5.02 or 5.03 hereof. 

In case such withdrawal of Deposited Cash is, in whole or in part, based upon Property Additions which constitute Unfunded Property, the
Company shall comply with Section 5.02 as if such Property Additions were being made the basis for the authentication and delivery of Bonds thereon equivalent in principal amount to the amount of the Deposited Cash to be
withdrawn on such basis; or in case the withdrawal of Deposited Cash is, in whole or in part, based upon the right to the authentication and delivery of Bonds based on the delivery to the Trustee of Retired Bonds, the Company shall comply with
Section 5.03 relating to such authentication and delivery, recognizing that, in each such case, the action being taken is the withdrawal of Deposited Cash rather than the authentication and delivery of Bonds;
provided, however, that the Company shall not in any event be required to deliver the documents specified in Section 5.01. 

Any withdrawal of Deposited Cash under this subsection (c) shall operate as a waiver by the Company of its right to the
authentication and delivery of the Bonds on which such withdrawal is based and such Bonds may not thereafter be authenticated and delivered hereunder. Any Property Additions which have been made the basis of any such right to the

  
 -54- 

 
authentication and delivery of Bonds so waived shall be deemed to have been made the basis of the withdrawal of such Deposited Cash and shall constitute Funded Property hereunder; and any Retired
Bonds which have been made the basis of any such right to the authentication and delivery of Bonds so waived shall be deemed to have been made the basis of the withdrawal of such Deposited Cash. 

(d) If at any time the Company shall so direct, any Deposited Cash may be used or applied to the purchase, payment or redemption of Bonds in
the manner and subject to the conditions provided in clauses (d) and (e) of Section 8.07. 

ARTICLE VI 
 REDEMPTION
OF BONDS 
 SECTION 6.01. APPLICABILITY OF ARTICLE. 

Bonds of any series, or any Tranche thereof, which are redeemable before their Stated Maturity shall be redeemable in accordance with their
terms and (except as otherwise specified as contemplated by Section 3.01 for Bonds of such series or Tranche) in accordance with this Article. 

SECTION 6.02. ELECTION TO REDEEM; NOTICE TO TRUSTEE. 

The election of the Company to redeem any Bonds shall be evidenced by a Board Resolution or an Officer’s Certificate. The Company shall,
at least forty-five (45) days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee in writing of such Redemption Date and of the principal amount of such Bonds to
be redeemed. In the case of any redemption of Bonds (a) prior to the expiration of any restriction on such redemption provided in the terms of such Bonds or elsewhere in this Indenture or (b) pursuant to an election of the Company which is
subject to a condition specified in the terms of such Bonds, the Company shall furnish the Trustee with an Officer’s Certificate evidencing compliance with such restriction or condition. 

SECTION 6.03. SELECTION OF BONDS TO BE REDEEMED. 

If less than all the Bonds of any series, or any Tranche thereof, are to be redeemed, the particular Bonds to be redeemed shall be selected by
the Bond Registrar from the Outstanding Bonds of such series or Tranche not previously called for redemption, by such method as shall be provided for any particular series or Tranche, or, in the absence of any such provision, by such method of
random selection as the Bond Registrar shall deem fair and appropriate and which may, in any case, provide for the selection for redemption of portions (equal to the minimum authorized denomination for Bonds of such series or Tranche or any integral
multiple thereof) of the principal amount of Bonds of such series or Tranche having a denomination larger than the minimum authorized denomination for Bonds of such series or Tranche; provided, however, that if, as indicated in an
Officer’s Certificate, the Company shall have offered to purchase all or any principal amount of the Bonds then Outstanding of any series, or any Tranche thereof, and less than all of such Bonds as to which such offer was made shall have been
tendered to the Company for such purchase, the Bond Registrar, if so directed by Company Order, shall select for redemption all or any principal amount of such Bonds which have not been so tendered; provided, further, that with respect
to Global Bonds, the Bonds to be redeemed shall be selected in accordance with the procedures of the Depositary. 

  
 -55- 

 Except in the case of Global Bonds, the Bond Registrar shall promptly notify the Company and
the Trustee in writing of the Bonds selected for redemption and, in the case of any Bonds selected to be redeemed in part, the principal amount thereof to be redeemed. 

For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Bonds shall relate, in
the case of any Bonds redeemed or to be redeemed only in part, to the portion of the principal amount of such Bonds which has been or is to be redeemed. 

SECTION 6.04.NOTICE OF REDEMPTION. 

Unless otherwise specified with respect to any series of Bonds, or any Tranche thereof, in accordance with
Section 3.01, notice of redemption shall be given in the manner provided in Section 1.08 to the Holders of the Bonds to be redeemed not less than ten (10) nor more than sixty (60) days
prior to the Redemption Date. 
 All notices of redemption shall state: 

(a) the Redemption Date, 
 (b)
the Redemption Price or, if not then ascertainable, the manner of calculation thereof, 
 (c) if less than all the Bonds of any series or
Tranche are to be redeemed, the identification of the particular Bonds to be redeemed and the portion of the principal amount of any Bond to be redeemed in part, 

(d) that on the Redemption Date, the Redemption Price, together with accrued interest, if any, to the Redemption Date, will become due and
payable upon each such Bond to be redeemed and, if applicable, that interest thereon will cease to accrue on and after said date; provided, that if a conditional notice shall be given, other appropriate language shall be inserted indicating the
conditional nature of the redemption, 
 (e) the place or places where such Bonds are to be surrendered for payment of the Redemption Price
and accrued interest, if any, unless it shall have been specified as contemplated by Section 3.01 with respect to such Bonds that such surrender shall not be required, 

(f) that the redemption is for a sinking or other fund, if such is the case, and 

(g) such other matters as the Company shall deem desirable or appropriate. 

  
 -56- 

 Unless otherwise specified with respect to any series of Bonds, or any Tranche thereof, in
accordance with Section 3.01, with respect to any redemption of Bonds at the election of the Company or any redemption which is contingent on the occurrence or nonoccurrence of an event or condition which cannot be
ascertained prior to the time a redemption notice is required to be given hereunder, such notice may state that such redemption shall be conditional upon receipt by the Trustee or the Paying Agent or Agents for such Bonds, on or prior to the date
fixed for such redemption, of money sufficient to pay the Redemption Price of such Bonds and accrued interest, if any, thereon to the Redemption Date (or written direction from the Company to apply such money for the payment of such Bonds, if such
money shall have been deposited with the Trustee or Paying Agent or Agents upon the condition that the Trustee or Paying Agent or Agents will apply such money only at the written direction of the Company) and that if such money shall not have been
so received (or if such money shall have been received but the Trustee or the Paying Agent or Agents have been directed, in writing, by the Company not to apply such money to redeem such Bonds) such notice shall be of no force or effect and the
Company shall not be required to redeem such Bonds; provided, however, that conditional notice shall not be given if upon the giving of notice, such Bonds shall be deemed to have been paid in accordance with
Section 9.01. In the event that such notice of redemption contains such a condition and such money is not so received, or the Trustee or Paying Agent or Agents have been directed by the Company not to apply such money to
the redemption of such Bonds, the redemption shall not be made, and within a reasonable time thereafter notice shall be given, in the manner in which the notice of redemption was given, that such money was not so received or that the Trustee or
Paying Agent or Agents have been directed by the Company not to redeem such Bonds and such redemption was not required to be made, and the Trustee or Paying Agent or Agents for the Bonds otherwise to have been redeemed shall promptly return to the
Holders thereof any of such Bonds which had been surrendered for payment upon such redemption. 
 Notice of redemption of Bonds to be
redeemed at the election of the Company, and any notice of non-satisfaction of a condition for redemption as aforesaid, shall be given by the Company or, at the Company’s written request, by the Bond
Registrar in the name and at the expense of the Company. Notice of mandatory redemption of Bonds shall be given by the Company or, at the Company’s written request, by the Bond Registrar. 

SECTION 6.05.BONDS PAYABLE ON REDEMPTION DATE. 

Notice of redemption having been given as aforesaid, and the conditions, if any, set forth in such notice having been satisfied, the Bonds or
portions thereof so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless, in the case of an unconditional notice of redemption, the Company shall default
in the payment of the Redemption Price and accrued interest, if any) such Bonds or portions thereof, if interest-bearing, shall cease to bear interest. Upon surrender of any such Bond for redemption in accordance with such notice, such Bond or
portion thereof shall be paid by the Company at the Redemption Price, together with accrued interest, if any, to the Redemption Date; provided, however, that no such surrender shall be a condition to such payment if so specified as
contemplated by Section 3.01 with respect to such Bond; and provided, further, that, except as otherwise specified as contemplated by Section 3.01 with respect to such Bond, any
installment of interest on any Bond the Stated Maturity of which installment is on or prior to the Redemption Date shall be payable to the Holder of such Bond, or one or more Predecessor Bonds, registered as such at the close of business on the
related Regular Record Date according to the terms of such Bond and subject to the provisions of Section 3.07. 

  
 -57- 

 SECTION 6.06.  BONDS REDEEMED IN PART. 

Upon the surrender of any Bond which is to be redeemed only in part at a Place of Payment therefor (with, if the Company or the Trustee so
requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing), the Company shall execute, and the Trustee shall
authenticate and deliver to the Holder of such Bond, without service charge, a new Bond or Bonds of the same series and Tranche, of any authorized denomination requested by such Holder and of like tenor and in aggregate principal amount equal to and
in exchange for the unredeemed portion of the principal of the Bond so surrendered. 
 ARTICLE VII 

COVENANTS 
 SECTION 7.01.
PAYMENT OF BONDS; LAWFUL POSSESSION; MAINTENANCE OF LIEN. 
 (a) The Company shall pay the principal of and premium, if any, and
interest, if any, on the Bonds of each series in accordance with the terms of such Bonds and this Indenture. 
 (b) At the Execution Date,
the Company is lawfully possessed of the Mortgaged Property. From and after the Lien Effective Date, the Company shall maintain and preserve its title to the Mortgaged Property and the lien of this Indenture so long as any Bonds shall remain
Outstanding, subject, however, to the provisions of Article VIII and Article XIII. 
 SECTION 7.02.MAINTENANCE OF OFFICE OR
AGENCY. 
 The Company shall maintain in each Place of Payment for the Bonds of each series, or any Tranche thereof, an office or
agency where payment of such Bonds shall be made, and where the registration of transfer or exchange of such Bonds may be effected and where notices and demands to or upon the Company in respect of such Bonds and this Indenture may be served. The
Company shall give prompt written notice to the Trustee of the location, and any change in the location, of each such office or agency. If at any time the Company shall fail to maintain any such required office or agency in respect of Bonds of any
series, or any Tranche thereof, or shall fail to furnish the Trustee with the address thereof, payment of such Bonds shall be made, registration of transfer or exchange thereof may be effected and notices and demands in respect thereof may be served
at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent for all such purposes in any such event. 

The Company may also from time to time designate one or more other offices or agencies with respect to the Bonds of one or more series, or any
Tranche thereof, for any or all of the foregoing purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to
maintain an office or agency for such purposes. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

Anything herein to the contrary notwithstanding, any office or agency required by this Section may be maintained at an office of the Company,
in which event the Company shall perform all functions to be performed at such office or agency. 

  
 -58- 

 SECTION 7.03. MONEY FOR BOND PAYMENTS TO BE HELD IN TRUST. 

If the Company shall at any time act as its own Paying Agent with respect to the Bonds of any series, or any Tranche thereof, it shall, on or
before each due date of the principal of and premium, if any, and interest, if any, on any of such Bonds, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and premium or interest so
becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided. The Company shall promptly notify the Trustee, in writing, of any failure by the Company (or any other obligor on such Bonds) to make any payment
of principal of or premium, if any, or interest, if any, on such Bonds. 
 Whenever the Company shall have one or more Paying Agents for the
Bonds of any series, or any Tranche thereof, it shall, on or before each due date of the principal of and premium, if any, and interest, if any, on such Bonds, deposit with such Paying Agents sums sufficient (without duplication) to pay the
principal and premium or interest so becoming due, such sums to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the Trustee) the Company shall promptly notify the
Trustee, in writing, of any failure by it so to act. 
 Upon their appointment as Paying Agent, the Company shall cause each Paying Agent
for the Bonds of any series, or any Tranche thereof, other than the Company or the Trustee, to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that
such Paying Agent shall: 
 (a) hold all sums held by it for the payment of the principal of and premium, if any, or interest, if any, on
such Bonds 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; 

(b) give the Trustee written notice of any failure by the Company (or any other obligor upon such Bonds) to make any payment of principal of or
premium, if any, or interest, if any, on such Bonds; and 
 (c) at any time during the continuance of any such failure, upon the written
request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent and furnish to the Trustee such information as it possesses regarding the names and addresses of the Persons entitled to such sums. 

The Company may at any time pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or
such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent and, if so stated in a Company Order delivered to the Trustee, in accordance with the provisions
of Article IX; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

  
 -59- 

 Unless otherwise prescribed by applicable law, any money deposited with the Trustee or any
Paying Agent, or then held by the Company, in trust for the payment of the principal of and premium, if any, or interest, if any, on any Bond and remaining unclaimed for two years after such principal and premium, if any, or interest, if any, has
become due and payable shall be paid to the Company on Company Request, or, if then held by the Company, shall be discharged from such trust without further action by the Company, Trustee or any Paying Agent; and, upon such payment or discharge, the
Holder of such Bond shall, as an unsecured general creditor and not as the Holder of an Outstanding Bond, look only to the Company for payment of the amount so due and payable and remaining unpaid, and all liability of the Trustee or such Paying
Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such payment to the
Company, shall, upon receipt of a Company Request and at the expense of the Company, cause to be delivered, on one occasion only, notice to such Holder that such money remains unclaimed and that, after a date specified therein, which shall not be
less than thirty (30) days from the date of such notice, any unclaimed balance of such money then remaining will be paid to the Company. 

SECTION 7.04. CORPORATE EXISTENCE. 

Subject to the rights of the Company under Article XIII, the Company shall do or cause to be done all things necessary to preserve and
keep its corporate existence in full force and effect. 
 SECTION 7.05. MAINTENANCE OF PROPERTIES. 

From and after the Lien Effective Date, the Company shall cause (or, with respect to property owned in common with others, make reasonable
effort to cause) the Mortgaged Property, considered as a whole, to be maintained and kept in good condition, repair and working order and shall cause (or, with respect to property owned in common with others, make reasonable effort to cause) to be
made such repairs, renewals, replacements, betterments and improvements thereof, as, in the judgment of the Company, may be necessary in order that the operation of the Mortgaged Property, considered as a whole, may be conducted in accordance with
common industry practice; provided, however, that nothing in this Section shall prevent the Company from discontinuing, or causing the discontinuance of, the operation and maintenance of any portion of the Mortgaged Property; and
provided, further, that nothing in this Section shall prevent the Company from selling, transferring or otherwise disposing of, or causing the sale, transfer or other disposition of, any portion of the Mortgaged Property so long as any
such sale, transfer or other disposition is permitted by, and conducted in accordance with, the terms of this Indenture. 
 SECTION 7.06. PAYMENT
OF TAXES; LIENS AND DISCHARGE OF LIENS. 
 (a) From and after the Lien Effective Date, the Company shall pay all taxes and
assessments and other governmental charges lawfully levied or assessed upon the Mortgaged Property, or upon any part thereof, or upon the interest of the Trustee in the Mortgaged Property, before the same shall become delinquent, and shall make
reasonable effort to observe and conform in all material respects to all valid requirements of any Governmental Authority relative to any of the Mortgaged Property and all covenants, terms and conditions upon or under which any of the Mortgaged
Property is held. 

  
 -60- 

 (b) From and after the Lien Effective Date, the Company shall not create nor suffer to be
created any Lien upon the Mortgaged Property, or any part thereof, prior to, or pari passu with, the lien of this Indenture, other than Permitted Liens; provided, however, that nothing herein shall be construed as a subordination of
the lien of this Indenture to any Permitted Liens encumbering any part of the Mortgaged Property except to the extent that such subordination occurs or is effected by operation of law or pursuant to the provisions of
Section 8.11 or Section 11.07. 
 (c) Notwithstanding anything to the contrary contained
in this Section, the Company shall not be required (i) to observe or conform to any requirement of a Governmental Authority or to cause to be paid or discharged, or to make provision for, any such Lien, or to pay any such tax, assessment or
governmental charge so long as the validity thereof shall be contested in good faith and by appropriate legal proceedings, (ii) to pay, discharge or make provisions for any tax, assessment or other governmental charge, the validity of which
shall not be so contested if adequate security for the payment of such tax, assessment or other governmental charge and for any penalties or interest which may reasonably be anticipated from failure to pay the same shall be given to the Trustee or
(iii) to pay, discharge or make provisions for any Liens existing on the Mortgaged Property on and as of the Execution Date; provided that the same constitute Permitted Liens; and provided, further, that nothing in this Section
shall prohibit the issuance or other incurrence of additional indebtedness, or the refunding of outstanding indebtedness, secured by any Lien prior to the lien hereof which is permitted under this Section to continue to exist. Notwithstanding the
foregoing, the Company shall not increase the principal amount of any Senior Lien Obligations secured by a Senior Lien on any Funded Property. 

SECTION 7.07. INSURANCE. 
 (a)
Subject to clause (e) below, the Company shall (i) keep or cause to be kept all Mortgaged Property insured against loss by fire, to the extent that property of similar character is usually so insured by companies similarly situated
and operating like properties, to a reasonable amount, by reputable insurance companies, the proceeds of such insurance (except as to any Minor Loss) to be made payable, subject to applicable law, to the Trustee as the interest of the Trustee may
appear, or to any holder of a Senior Lien securing Senior Lien Obligations if the terms of the applicable Senior Lien require such payment, or (ii) in lieu of or supplementing such insurance in whole or in part, adopt some other method or plan
of protection against loss by fire at least equal in protection to the method or plan of protection against loss by fire of companies similarly situated and operating properties subject to similar fire hazards or properties on which an equal primary
fire insurance rate has been set by reputable insurance companies; and if the Company shall adopt such other method or plan of protection, it shall, subject to applicable law (and except as to any Minor Loss) pay to the Trustee on account of any
loss covered by such method or plan an amount in cash equal to the amount of such loss less any amounts otherwise paid to the Trustee in respect of such loss or paid to any holder of a Senior Lien securing Senior Lien Obligations in respect of such
loss if the terms of the applicable Senior Lien require such payment. Any cash so required to be paid by the Company pursuant to any such method or plan 

  
 -61- 

 
shall for the purposes of this Indenture be deemed to be proceeds of insurance. In case of the adoption of such other method or plan of protection, the Company shall also furnish to the Trustee a
certificate of an actuary or other qualified Person appointed by the Company with respect to the adequacy of such method or plan. 

Anything herein to the contrary notwithstanding, the Company may have fire insurance policies with (i) a deductible provision in a dollar
amount per occurrence not exceeding the applicable Deductible Limit and/or (ii) co-insurance or self insurance provisions with a dollar amount per occurrence not exceeding thirty percent (30%) of the loss
proceeds otherwise payable. 
 Anything herein to the contrary notwithstanding, the Company need not keep insured or protected by any other
method or plan, as contemplated herein, any part of the Mortgaged Property if such insurance or protection of such part of the Mortgaged Property is no longer available to the Company on commercially reasonable terms. 

(b) All moneys paid to the Trustee by the Company in accordance with this Section or received by the Trustee as proceeds of any insurance, in
either case on account of a loss on or with respect to Funded Property, shall, subject to the requirements of any Senior Lien upon such Funded Property, be held by the Trustee, constitute Mortgaged Property, and, subject as aforesaid, shall be paid
by it to the Company free and clear of any Lien to reimburse the Company for an equal amount expended or committed for expenditure in the rebuilding, renewal and/or replacement of or substitution for the property destroyed, damaged or otherwise lost
(such property being referred to in this clause (b) as “lost property”), upon receipt by the Trustee of: 

(i) a Company Request requesting such payment; 

(ii) an Expert’s Certificate: 

(A) describing the lost property; 

(B) stating the Funded Property Basis of such lost property or, if such damage, destruction or loss shall have affected only a
portion of such Funded Property, stating the allocable portion of such Funded Property Basis (such allocation to be made on any reasonable basis as may be determined by the Company); 

(C) stating the amounts so expended or committed for expenditure in the rebuilding, renewal, replacement of and/or substitution
for such lost property; and 
 (D) stating (I) the Fair Value to the Company of such lost property as rebuilt or renewed
or as to be rebuilt or renewed and/or of the replacement or substituted property (such rebuilt, renewed, replaced or substituted property being referred to in this clause (b) as the “replaced property”); provided, that, if any
portion of such replaced property is an Acquired Facility and the Fair Value to the Company of such Acquired Facility as set forth in such Expert’s Certificate is not a De Minimis Amount, then an Independent Expert shall opine

  
 -62- 

 
as to the Fair Value to the Company of such Acquired Facility, (II) to the extent such replaced property is subject to a Senior Lien securing Senior Lien Obligations, the outstanding
principal amount of such Senior Lien Obligations as of the date of such certificate, and (III) the Net Fair Value of such replaced property; and 

(iii) an Opinion of Counsel stating that, in the opinion of the signer, the Indenture creates, or upon taking of the actions
specified in such opinion, the Indenture will create, a lien on the replaced property. 
 Any such moneys not so applied within thirty-six (36) months after its receipt by the Trustee, or in respect of which notice in writing of intention to apply the same to the work of rebuilding, renewal, replacement or substitution then in progress
and uncompleted shall not have been given to the Trustee by the Company within such thirty-six (36) months, or which the Company shall at any time notify the Trustee, in writing, is not to be so applied,
shall thereafter be withdrawn, used or applied in the manner, to the extent and for the purposes, and subject to the conditions, provided in Section 8.07; provided, however, that (i) if the amount of such
moneys shall exceed seventy percent (70%) of the amount stated pursuant to clause (B) in the Expert’s Certificate referred to above, or (ii) if any of such moneys remain after the Company shall have replaced the lost property
with replaced property and the Net Fair Value of the replaced property is at least equal to the Funded Property Basis of the lost property, then in each case, the amount of such excess shall not be deemed to be Funded Cash, shall not be subject to
Section 8.07 and shall be remitted to or upon the written order of the Company free and clear of any Lien. All replaced property, to the extent that it has been built or acquired with the proceeds of Funded Cash pursuant to
this clause (b), shall constitute Mortgaged Property and Funded Property. 
 Anything in this Indenture to the contrary
notwithstanding, if Mortgaged Property on or with respect to which a loss occurs constitutes Funded Property in part only, the Company may, at its election, obtain the reimbursement of insurance proceeds attributable to the part of such property
which constitutes Funded Property under this subsection (b) and obtain the reimbursement of insurance proceeds attributable to the part of such property which constitutes Unfunded Property under subsection (c) of this
Section. 
 (c) All moneys paid to the Trustee by the Company in accordance with this Section or received by the Trustee as proceeds of any
insurance, in either case on account of a loss on or with respect to Unfunded Property shall, subject to the requirements of any applicable Senior Lien securing Senior Lien Obligations, be held by the Trustee, constitute Mortgaged Property, and,
subject as aforesaid, shall be paid by it to the Company free and clear of any Lien upon receipt by the Trustee of: 
 (i) a
Company Request requesting such payment; 

  
 -63- 

 (ii) an Expert’s Certificate made and dated not more than ninety
(90) days prior to the date of such Company Request, stating: 
 (A) that such moneys were paid to or received by the
Trustee on account of a loss on or with respect to Unfunded Property; 
 (B) if true, (I) that the aggregate Adjusted
Property Additions Basis of all Property Additions which constitute Unfunded Property (excluding, to the extent of such loss, the property on or with respect to which such loss was incurred), is not less than zero (0), or (II) that the amount
of such loss does not exceed the aggregate Adjusted Property Additions Basis of all Property Additions acquired, made or constructed on or after the ninetieth (90th) day prior to the date of the Company Request requesting such payment; and 

(C) if neither of the statements contemplated in subclause (B) above can be made, the amount by which zero
(0) exceeds the amount referred to in subclause (B)(I) above (showing in reasonable detail the calculation thereof) (such amount being referred to in this clause (c) as the
“Make-up Amount”); and 
 (iii) an amount in cash, to be held by the
Trustee and to constitute Mortgaged Property, equal to seventy percent (70%) of the Make-up Amount if the Expert’s Certificate required by clause (ii) above does not contain either of the
statements contemplated in clause (ii)(B) above. 
 To the extent that the Company shall be entitled to withdraw proceeds of
insurance pursuant to this subsection (c), such proceeds shall be deemed not to constitute Funded Cash. 
 (d) Whenever under the
provisions of this Section the Company is required to deliver moneys to the Trustee and at the same time shall have satisfied the conditions set forth herein for payment of moneys by the Trustee to the Company, there shall be paid to or retained by
the Trustee or paid to the Company, as the case may be, only the amount net of any taxes or other governmental charges, any administrative or other miscellaneous expenses of the insurance provider and any amounts allowed by this Indenture to be
deducted from amounts payable to the Trustee. 
 SECTION 7.08. RECORDING, FURTHER ASSURANCES. 

(a) Following the Lien Effective Date, the Company shall cause this Indenture and all indentures and instruments supplemental hereto (or
notices, memoranda or financing statements or amendments thereto as may be recorded or filed to place third parties on notice thereof) (together with accurate and complete legal descriptions of the Mortgaged Property, including after-acquired
Mortgaged Property) to be promptly recorded and filed and re-recorded and re-filed in such manner and in such places, as may be required by law in order to fully
preserve and protect the security of the Holders of the Bonds and all rights of the Trustee, and shall furnish to the Trustee: 

(i) Within 200 days after the execution and delivery of this Indenture and the first supplemental indenture hereto, as
originally executed and delivered and within 120 calendar days after the execution and delivery of each supplemental indenture following the first supplemental indenture hereto, an Opinion of Counsel either stating that in the opinion of such
counsel this Indenture or such supplemental indenture (or any 

  
 -64- 

 
other instrument, notice, memorandum or financing statement in connection therewith) has been properly recorded and filed so as to make effective the lien intended to be created hereby or
thereby, 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 effective. The Company shall be deemed to be in compliance with this subsection (i) if (x) the
Opinion of Counsel herein required to be delivered to the Trustee shall state that this Indenture or such supplemental indenture (or any other instrument, notice, memorandum or financing statement in connection therewith) has been received for
record or filing in each jurisdiction in which it is required to be recorded or filed and that, in the opinion of such counsel (if such is the case), such receipt for record or filing makes effective the lien intended to be created by this Indenture
or such supplemental indenture, and (y) such opinion is delivered to the Trustee within such time, following the date of execution of this Indenture, as originally executed and delivered, or such supplemental indenture, as shall be practicable
having due regard to the number and distance of the jurisdictions in which this Indenture or such supplemental indenture (or such other instrument, notice, memorandum or financing statement in connection therewith) is required to be recorded or
filed (but in no event to exceed 120 calendar days, except with respect to this Indenture and the first supplemental indenture hereto, in no event to exceed 200 calendar days); and 

(ii) on or before June 1 of each year, beginning June 1, 2021, an Opinion of Counsel stating either (x) that in
the opinion of such counsel such action has been taken, since the date of the most recent Opinion of Counsel furnished pursuant to this subsection (ii) or the first Opinion of Counsel furnished pursuant to clause (i) of this
subsection (a), with respect to the recording, filing, re-recording, and re-filing of this Indenture and of each indenture supplemental to this Indenture (or any
other instrument, notice, memorandum or financing statement or amendments thereto in connection therewith), as is necessary to maintain the lien hereof, and reciting the details of such action, or (y) that in the opinion of such counsel no such
action is necessary to maintain such lien. 
 (b) From and after the Lien Effective Date, the Company shall authorize, execute and deliver
such supplemental indenture or indentures and such further instruments and do such further acts as may be necessary or proper to carry out the purposes of this Indenture and to make subject to the lien hereof any property hereafter acquired, made or
constructed and intended to be subject to the lien hereof, and to transfer to any new trustee or trustees or co-trustee or co-trustees, the estate, powers, instruments
or funds held in trust hereunder. 
 (c) The Company hereby authorizes (in the event the Company fails to do so), from and after the Lien
Effective Date, the recordation and filing by the Trustee of one or more financing statements and amendments thereto or any continuation statements with respect thereto to perfect the Trustee’s security interest in any portion of the Mortgaged
Property. The Company hereby acknowledges, however, that it shall be its responsibility to file all such financing statements, amendments and continuation statements in the first instance. 

  
 -65- 

 SECTION 7.09. WAIVER OF CERTAIN COVENANTS. 

The Company may omit in any particular instance to comply with any term, provision or condition set forth in 

(a) any covenant or restriction specified with respect to the Bonds of any one or more series, or any one or more Tranches thereof, as
contemplated by Section 3.01 if before the time for such compliance the Holders of not less than a majority in aggregate principal amount of the Outstanding Bonds of all series and Tranches with respect to which compliance
with such covenant or restriction is to be omitted, considered as one class, shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or condition; provided,
however, that no such waiver shall be effective as to any of the matters contemplated in clause (a), (b), (c) or (d) in Section 14.02 without the consent of the Holders specified in
such Section; and 
 (b) Section 7.04, 7.05, 7.06 or 7.07 or Article XIII if, before the time for such
compliance, the Holders of not less than a majority in principal amount of Bonds Outstanding under this Indenture shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or
condition; 
 but, in either case, no such waiver shall extend to or affect such term, provision or condition except to the extent so expressly waived, and,
until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 

SECTION 7.10. ANNUAL OFFICER’S CERTIFICATE AS TO COMPLIANCE. 

Not later than June 1 in each year, commencing June 1, 2021, the Company shall deliver to the Trustee a certificate (which need not
comply with Section 1.04) executed by the principal executive officer, the principal financial officer or the principal accounting officer of the Company, as to such officer’s knowledge of the Company’s compliance
with all conditions and covenants under this Indenture, such compliance to be determined without regard to any period of grace or requirement of notice under this Indenture. 

ARTICLE VIII 

POSSESSION, USE AND RELEASE OF MORTGAGED PROPERTY 

SECTION 8.01. QUIET ENJOYMENT. 

Unless one or more Events of Default shall have occurred and be continuing, the Company shall be permitted to possess, use, manage, operate and
enjoy the Mortgaged Property (except, to the extent not herein otherwise provided, such money, deposit accounts, instruments, investment property and other property as are expressly required by this Indenture to be paid or delivered to, deposited
with, or held by, the Trustee hereunder) freely and without any hindrance or interference on the part of the Trustee or of the Holders of the Bonds. 

  
 -66- 

 SECTION 8.02. DISPOSITIONS WITHOUT RELEASE. 

With respect to any Mortgaged Property or any interest therein, unless an Event of Default shall have occurred and be continuing, the Company
may at any time and from time to time, without any release or consent by, or report to, the Trustee: 
 (a) sell or otherwise dispose of,
free from the lien of this Indenture, any machinery, equipment, apparatus, towers, transformers, poles, lines, cables, conduits, ducts, conductors, meters, regulators, holders, tanks, retorts, purifiers, odorizers, scrubbers, compressors, valves,
pumps, mains, pipes, service pipes, fittings, connections, services, tools, implements, computers, data processing, data storage, data transmission or telecommunications equipment, or any other fixtures or personalty, then subject to the lien
hereof, which shall have become old, inadequate, obsolete, worn out, unfit, unadapted, unserviceable, undesirable or unnecessary for use in the operations of the Company upon replacing the same by, or substituting for the same, similar or analogous
property, or other property performing a similar or analogous function or otherwise obviating the need therefor (provided, that such similar, analogous or other property constitutes Unfunded Property), having a Cost in the aggregate to the Company
at least equal to the Cost in the aggregate of the property sold or otherwise disposed of and subject to the lien hereof, subject to no Liens prior hereto except Permitted Liens and any other Liens to which the property sold or otherwise disposed of
was subject; 
 (b) cancel or make changes or alterations in or substitutions for any and all easements, servitudes, rights-of-way and similar rights and/or interests which are subject to the lien hereof; and 

(c) grant, free from the lien of this Indenture, easements, ground leases or
rights-of-way in, upon, over and/or across the property or rights-of-way of the Company
for the purpose of roads, pipe lines, transmission lines, distribution lines, communication lines, railways, removal of coal or other minerals or timber, and other like purposes, or for the joint or common use of real property, rights-of-way, facilities and/or equipment; provided, however, that such grant shall not materially impair the use of the property or rights-of-way for the purposes for which such property or rights-of-way are held by the
Company. 
 The Trustee shall, from time to time, execute a written instrument with respect to any particular action taken by the Company
under this Section in order to confirm, based solely on its receipt of the documents in subclauses (i), (ii) and (iii) below of this clause (c), that such action does not require any release or consent by, or report
to, the Trustee, upon receipt by the Trustee of (i) a Company Order requesting the same, (ii) an Officer’s Certificate stating that, to the knowledge of the signer, no Event of Default has occurred and is continuing and stating
further that said action was duly taken by the Company in conformity with this Section, and (iii) an Opinion of Counsel stating that said action was duly taken by the Company in conformity with this Section. 

  
 -67- 

 SECTION 8.03. RELEASE OF FUNDED PROPERTY. 

Unless an Event of Default shall have occurred and be continuing, the Company may obtain the release of any part of the Mortgaged Property, or
any interest therein, which constitutes Funded Property, and the Trustee shall release all its right, title and interest in and to the same from the lien hereof, upon receipt by the Trustee of: 

(a) a Company Order requesting the release of such property and transmitting therewith a form of instrument to effect such release; 

(b) an Officer’s Certificate stating that, to the knowledge of the signer, no Event of Default has occurred and is continuing; 

(c) an Expert’s Certificate made and dated not more than ninety (90) days prior to the date of such Company Order, substantially in
the form attached hereto as Schedule 2: 
 (i) describing the property to be released; 

(ii) stating the Fair Value, in the judgment of the signers, of the property to be released; 

(iii) stating the Funded Property Basis of the property to be released; and 

(iv) stating that, in the judgment of the signers, such release will not impair the security under this Indenture in
contravention of the provisions hereof; 
 (d) an Officer’s Certificate, substantially in the form attached hereto as Schedule
3, stating: 
 (i) the amount in cash (the “Cash Deposit Amount”), if any, to be held by the Trustee and
constituting Mortgaged Property (and which cash shall then constitute Funded Cash), which Cash Deposit Amount shall be equal to the difference between (A) the Funded Property Basis of the property to be released, less any taxes and expenses
incidental to any sale, exchange, dedication or other disposition of the property to be released, and (B) the aggregate amount of the Cash Deposit Credit Items (as hereinafter defined); and 

(ii) indicating one or more, or any combination, of the following property (collectively, the “Cash Deposit Credit
Items”), if any, and the amounts thereof, which together with the Cash Deposit Amount, if any, to be deposited with the Trustee shall form the basis for the release of property requested in the Company Order referred to in clause
(a) above of this Section: 
 (A) the aggregate principal amount of any Purchase Money Obligations delivered to the
Trustee, to be held by the Trustee and constituting Mortgaged Property, which are secured by Purchase Money Liens upon the property to be released; 

  
 -68- 

 (B) the Adjusted Property Additions Basis (or, as provided below in this
clause (ii)(B), the Property Additions Basis), of any Property Additions which constitute Unfunded Property described in an Expert’s Certificate, dated not more than ninety (90) days prior to the date of the Company Order requesting
such release and complying with clause (ii) and, to the extent applicable, clause (iii) in Section 5.02(b), delivered to the Trustee; provided, however, that for purposes of the above,
the Property Additions Basis shall be substituted in lieu of the Adjusted Property Additions Basis if such Property Additions were acquired, made or constructed on or after the ninetieth (90th) day preceding the date of such Company Order; 

(C) an amount equal to ten-sevenths (10/7ths) of the aggregate principal amount of
Bonds to the authentication and delivery of which the Company shall be entitled under the provisions of Section 5.03, by virtue of compliance with all applicable provisions of Section 5.03 (except
as hereinafter in this Section otherwise provided); provided, however, that such release shall operate as a waiver by the Company of the right to the authentication and delivery of such Bonds and, to such extent, no such Bonds may
thereafter be authenticated and delivered under Section 5.03; and any Bonds which were the basis of such right to the authentication and delivery of Bonds so waived shall be deemed to have been made the basis of such
release of property; and 
 (D) an amount equal to ten-sevenths (10/7ths) of the
aggregate principal amount of any Outstanding Bonds delivered to the Trustee. 
 (e) the Cash Deposit Amount and the Cash Deposit Credit
Items stated in such Officer’s Certificate delivered to the Trustee pursuant to clause (d) of this Section, which in the aggregate shall be at least equal to the Funded Property Basis of the property to be released, less any taxes
and expenses incidental to any sale, exchange, dedication or other disposition of the property to be released; 
 (f) if the release is on
the basis of Property Additions or on the basis of the right to the authentication and delivery of Bonds under Section 5.03, all documents contemplated below in this Section; and 

(g) if the release is on the basis of the delivery to the Trustee of Purchase Money Obligations, as described in clause (d)(ii)(A) in
this Section, all documents contemplated below in this Section, to the extent required. 
 If and to the extent that the release of property
is, in whole or in part, based upon Property Additions (as described in clause (d)(ii)(B) in this Section), the Company shall, subject to the provisions of said clause (d)(ii)(B) and except as hereafter in this paragraph provided,
comply with clauses (ii) through (v) of Section 5.02(b) as if such Property Additions were to be made the basis of the authentication and delivery of Bonds equal in principal amount to seventy percent
(70%) of the Funded Property Basis of that portion of the property to be released, as shown by the Expert’s Certificate required by clause (c) in this Section, but recognizing that the action to be taken is the release of property
rather than the authentication and delivery of Bonds; provided, however, that the Cost of any Property Additions received or to be received by the Company in whole or in part as consideration in exchange for the property to be released
shall, for all purposes of this Indenture, be deemed to be the Fair Value of the property to be released 

  
 -69- 

 
as stated in the Expert’s Certificate provided for in clause (c) of this Section, (x) plus the amount of any cash and the fair market value of any other consideration,
further to be stated in such Expert’s Certificate, paid and/or delivered or to be paid and/or delivered by, and the amount of any obligations assumed or to be assumed by, the Company in connection with such exchange as additional consideration
for such Property Additions and/or (y) less the amount of any cash and the fair market value of any other consideration, which shall also be stated in such Expert’s Certificate, received or to be received by the Company in connection with
such exchange in addition to such Property Additions. Notwithstanding the foregoing, in no event shall the Company be required to deliver the documents specified in Section 5.01. Any Property Additions which have become the
basis for the release of Funded Property pursuant to this Section shall constitute Funded Property. 
 If and to the extent that the release
of property is, in whole or in part, based upon the right to the authentication and delivery of Bonds under Section 5.03 (as described in clause (d)(ii)(C) of this Section), the Company shall, except as hereafter in
this paragraph provided, comply with Section 5.03(b) relating to such authentication and delivery, but recognizing that the action to be taken is the release of property rather than the authentication and delivery of Bonds.
Notwithstanding the foregoing provisions of this paragraph, in no event shall the Company be required to deliver the documents specified in Section 5.01. 

If the release of property is, in whole or in part, based upon the delivery to the Trustee of Purchase Money Obligations (as described in
clause (d)(ii)(A) of this Section), the Company shall deliver to the Trustee: 
 (a) an Officer’s Certificate (i) stating
that no event has occurred and is continuing which entitles the holder of the Purchase Money Lien securing such Purchase Money Obligations to accelerate the maturity of the Purchase Money Obligations, if any, outstanding thereunder,
(ii) reciting the aggregate principal amount of Purchase Money Obligations, if any, then outstanding thereunder in addition to the Purchase Money Obligations then being delivered in connection with the release of such property and the terms and
conditions, if any, on which additional Purchase Money Obligations are permitted to be issued; and 
 (b) an Opinion of Counsel stating
that, in the opinion of the signer, (i) such Purchase Money Obligations are valid obligations, (ii) such Purchase Money Lien constitutes, or, upon the taking of the actions specified in such opinion, will constitute, a Lien upon the
property to be released, subject, to the knowledge of such counsel, to no Lien prior thereto except Liens generally of the character of Permitted Liens and such Liens, if any, as shall have existed thereon immediately prior to such release as Liens
prior to the lien of this Indenture, (iii) if any Purchase Money Obligations in addition to the Purchase Money Obligations being delivered in connection with such release of property are then outstanding, or are permitted to be issued, under
such Purchase Money Lien, (A) that such Purchase Money Lien constitutes, or, upon the taking of the actions specified in such opinion, will constitute, a Lien upon all other property, if any, purporting to be subject thereto, subject, to the
knowledge of such counsel, to no Lien prior thereto except Liens generally of the character of Permitted Liens and Liens permitted to exist or to be hereafter created under Section 7.06 and (B) that the terms of such
Purchase Money Lien, as then in effect, do not permit the issuance of Purchase Money Obligations thereunder except on the basis of property generally of the character of Property Additions, the retirement or deposit of outstanding Purchase Money
Obligations, the deposit of prior Lien obligations or the deposit of cash. 

  
 -70- 

 If the Opinion of Counsel provided to the Trustee pursuant to clause (b) above
is conditioned upon the filing and/or recording of any instruments of conveyance, assignment or transfer, the Company shall promptly cause such instruments to be filed and/or recorded in the proper places and manner and shall deliver to the Trustee
evidence of such filing and/or recording promptly upon receipt of such evidence by the Company. 
 Any Outstanding Bonds delivered to the
Trustee pursuant to clause (d)(ii)(D) of this Section shall forthwith be canceled by the Trustee. Any cash and/or Purchase Money Obligations deposited with the Trustee pursuant to clause (d)(ii)(A) of this Section, and the proceeds of
any such Purchase Money Obligations, shall be held by the Trustee and constitute Mortgaged Property and shall be withdrawn, released, used or applied in the manner, to the extent and for the purposes, and subject to the conditions, provided in
Section 8.07. 
 Anything in this Indenture to the contrary notwithstanding, if property to be released
constitutes Funded Property in part only, the Company shall obtain the release of the part of such property which constitutes Funded Property under this Section and obtain the release of the part of such property which constitutes Unfunded Property
under Section 8.04; provided, that the foregoing shall not preclude the release of such property under any other applicable Section of this Article VIII. In such event, (i) the application of Property Additions
in the release under clause (d)(ii)(B) of this Section shall be taken into account in clause (vi) or clause (vii), whichever may be applicable, of the Expert’s Certificate described in clause (c) in
Section 8.04 and (ii) the Trustee shall, at the election of the Company, execute and deliver a separate instrument of release with respect to the property released under each of such Sections or a consolidated
instrument of release with respect to the property released under both of such Sections considered as a whole. To the extent that only a portion of any Funded Property is to be released under this Section 8.03, the Company
shall be entitled to make an allocation of the Funded Property Basis between that portion of the Funded Property being released and that portion of the Funded Property remaining subject to the lien of this Indenture on any reasonable basis as may be
determined by the Company. 
  

	SECTION 	 8.04. RELEASE OF PROPERTY CONSTITUTING UNFUNDED PROPERTY. 

Unless an Event of Default shall have occurred and be continuing, the Company may obtain the release of any part of the Mortgaged Property, or
any interest therein, which constitutes Unfunded Property, and the Trustee shall release all its right, title and interest in and to the same from the lien hereof, upon receipt by the Trustee of: 

(a) a Company Order requesting the release of such property and transmitting therewith a form of instrument to effect such release; 

(b) an Officer’s Certificate stating that, to the knowledge of the signer, no Event of Default has occurred and is continuing; 

  
 -71- 

 (c) an Expert’s Certificate, made and dated not more than ninety (90) days prior
to the date of such Company Order, substantially in the form attached hereto as Schedule 4: 
 (i) describing the
property to be released; 
 (ii) stating (A) the Fair Value, in the judgment of the signers, of the property to be
released, (B) to the extent such property to be released is subject to a Senior Lien securing Senior Lien Obligations, the outstanding principal amount of such Senior Lien Obligations as of the date of such certificate, and (C) the Net
Fair Value of the property to be released; 
 (iii) stating the Cost and Net Cost of the property to be released; 

(iv) stating the Property Additions Basis of the property to be released; 

(v) stating that the property to be released constitutes Unfunded Property; 

(vi) if true, stating (I) that the aggregate Adjusted Property Additions Basis of all Property Additions which constitute
Unfunded Property (excluding the property to be released), is not less than zero (0), or (II) that the Adjusted Property Additions Basis of the property to be released does not exceed the aggregate Adjusted Property Additions Basis of all
Property Additions acquired, made or constructed on or after the ninetieth (90th) day prior to the date of the Company Order requesting such release; 

(vii) if neither of the statements contemplated in subclause (vi) above can be made, stating (A) the amount by
which zero (0) exceeds the amount referred to in subclause (vi)(I) above (showing in reasonable detail the calculation thereof) (such amount being referred to in this Section as the
“Make-up Amount”) and (B) the amount in cash, if any, to be deposited by the Company, held by the Trustee, and constitute Mortgaged Property, calculated as described in clause
(d) below of this Section; and 
 (viii) stating that, in the judgment of the signers, such release will not impair
the security under this Indenture in contravention of the provisions hereof; 
 (d) if the Expert’s Certificate required by clause
(c) above does not contain either of the statements contemplated in clause (c)(vi) above, an amount in cash equal to seventy percent (70%) of the lower of (i) the Property Additions Basis of the property to be released and
(ii) the Make-up Amount, less the aggregate of items of the character described in clauses (d)(ii)(C) and (d)(ii)(D) of Section 8.03 then to be used as a credit
against cash required to be deposited under this clause (d) (subject, however, to the same limitations and conditions with respect to such items as are set forth in Section 8.03); and 

(e) items of the character described in clause (d) above in this Section, if any, being used by the Company as a credit against
cash required to be deposited with the Trustee pursuant to clause (d) above in this Section. 

  
 -72- 

	SECTION 	 8.05. RELEASE OF PROPERTIES WITHIN ANNUAL LIMITS. 

(a) Notwithstanding the provisions of Sections 8.03 and 8.04, unless an Event of Default shall have occurred and be continuing,
the Company may obtain the release from the lien hereof of any part of the Mortgaged Property, or any interest therein, and the Trustee shall whenever from time to time requested by the Company in a Company Order transmitting therewith a form of
instrument to effect such release, and without requiring compliance with any of the provisions of Section 8.03 or 8.04, release from the lien hereof all the right, title and interest of the Trustee in and to the
same, provided that the aggregate Fair Value of the property to be so released on any date in a given calendar year, together with the Fair Value of all other property released pursuant to this Section 8.05(a) in such
calendar year, shall not exceed the greater of (i) Ten Million Dollars ($10,000,000) for calendar year 2020; provided, that with respect to any subsequent calendar year, such amount shall be increased by the same percentage increase in the CPI
Index for the period commencing January 1, 2020 and ending on January 1 of the applicable calendar year as set forth in an Officer’s Certificate delivered to the Trustee and (ii) three percent (3%) of the aggregate principal
amount of Bonds then Outstanding. 
 (b) Prior to the granting of any release under this Section, there shall be delivered to the Trustee:

 (i) an Officer’s Certificate stating that, to the knowledge of the signer, no Event of Default has occurred and is
continuing, and 
 (ii) an Expert’s Certificate stating (A) in the judgment of the signers, the Fair Value of the
property to be released and the aggregate Fair Value of all other property theretofore released pursuant to this Section in such calendar year, (B) as to Funded Property, the Funded Property Basis thereof, and (C) that, in the judgment of
the signers, the release thereof will not impair the security under this Indenture in contravention of the provisions hereof. 
 (c) On or
before December 31st of each calendar year, the Company shall deposit with the Trustee an amount in cash equal to seventy percent (70%) of the aggregate Funded Property Basis of the properties constituting Funded Property so released during such
year (the “Cash Deposit Amount”) and such Cash Deposit Amount shall constitute Mortgaged Property; provided, however, that the Cash Deposit Amount may be reduced, at the election of the Company, by any of, or any
combination of, the Cash Deposit Credit Items specified in clause (d)(ii) of Section 8.03, subject to all of the limitations and conditions specified in such Section, to the same extent as if such property were being
released pursuant to Section 8.03. 
 Any cash deposited with the Trustee under this Section may thereafter be
withdrawn, used or applied in the manner, to the extent and for the purposes, and subject to the conditions, provided in Section 8.07. 

  
 -73- 

 SECTION 8.06. PURCHASE MONEY OBLIGATIONS. 

(a) Any Purchase Money Obligations delivered to the Trustee in consideration of the release of property from the lien of this Indenture,
together with any evidence of the applicable Purchase Money Lien held by the Trustee, shall be released from the lien of this Indenture and delivered to or upon the written order of the Company upon payment by the Company to the Trustee of an amount
in cash equal to the aggregate principal amount of such Purchase Money Obligations less the aggregate amount theretofore paid to the Trustee (by the Company, the obligor or otherwise) in respect of the principal of such Purchase Money Obligations,
such cash to constitute Mortgaged Property. 
 (b) The principal of and interest on any such Purchase Money Obligations secured by a
Purchase Money Lien held by the Trustee shall be held by the Trustee as and when the same are received by the Trustee and shall constitute Mortgaged Property. The interest received by the Trustee on any such Purchase Money Obligations shall be
deemed not to constitute Funded Cash and shall be remitted to the Company free and clear of any Lien; provided, however, that if an Event of Default shall have occurred and be continuing, such proceeds shall constitute Mortgaged
Property and shall be retained by the Trustee until such Event of Default shall have been cured or waived. 
 (c) The Trustee shall have and
may exercise all the rights and powers of any owner of such Purchase Money Obligations and of all substitutions therefor and, without limiting the generality of the foregoing, may collect and receive all insurance moneys payable to it under any of
the provisions thereof and apply the same in accordance with the provisions thereof, may consent to extensions thereof at a higher or lower rate of interest, may join in any plan or plans of voluntary or involuntary reorganization or readjustment or
rearrangement and may accept and hold hereunder new obligations, stocks or other securities issued in exchange therefor under any such plan. Any discretionary action which the Trustee may be entitled to take in connection with any such Purchase
Money Obligations or substitutions therefor shall be taken, so long as no Event of Default shall have occurred and be continuing, in accordance with a Company Order, and, during the continuance of an Event of Default, acting at the written direction
by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding. 
 (d) Anything herein to the contrary
notwithstanding, the Company may irrevocably waive all right to the withdrawal pursuant to this Section of, and any other rights with respect to, any Purchase Money Obligations held by the Trustee, and the proceeds of any such Purchase Money
Obligations, by delivery to the Trustee of a Company Order: 
 (i) specifying such Purchase Money Obligations and stating
that the Company thereby waives all rights to the withdrawal thereof and of the proceeds thereof pursuant to this Section, and any other rights with respect thereto; and 

(ii) directing that the principal of such Purchase Money Obligations be applied as provided in clause (e) of
Section 8.07, specifying the Bonds to be paid or redeemed or for the payment or redemption of which payment is to be made. 

Following any such waiver, the interest on any such Purchase Money Obligations shall be applied to the payment of interest, if any, on the
Bonds to be paid or redeemed or for the payment or redemption of which provision is to be made, as specified in the aforesaid Company Order, as and when such interest shall become due from time to time, and any excess funds remaining from time to
time after such application shall be applied to the payment of interest on any other Bonds as and when the same shall become due. Pending any such application, the 

  
 -74- 

 
interest on such Purchase Money Obligations shall be invested in Investment Securities specified in a Company Order. The principal of any such Purchase Money Obligations shall be applied solely
to the payment of principal of the Bonds to be paid or redeemed or for the payment or redemption of which provision is to be made, as specified in the aforesaid Company Order. Pending such application, the principal of such Purchase Money
Obligations shall be invested in Eligible Obligations specified in a Company Order. The obligation of the Company to pay the principal of such Bonds when the same shall become due at Maturity, shall be offset and reduced by the amount of the
proceeds of such Purchase Money Obligations then held, and to be applied, by the Trustee in accordance with this paragraph. In no event shall the Trustee be liable for determining whether any investment fits within the criteria set forth in
“Investment Securities” or for any loss incurred in connection with the sale of any Investment Security pursuant to this Section. In the absence of a Company Order directing the Trustee to invest cash held by the Trustee hereunder, funds
shall remain univested until the Trustee shall have received a Company Order directing the Trustee to invest such cash in another Investment Security. The Trustee shall not be accountable or liable for any losses resulting from the sale or
depreciation in the market value of investments made pursuant to this Indenture and Company Orders. 
 SECTION 8.07. WITHDRAWAL OR OTHER
APPLICATION OF FUNDED CASH. 
 Subject to the provisions of Section 5.04 with respect to Deposited Cash and
except as hereafter in this Section provided, unless an Event of Default shall have occurred and be continuing, any Funded Cash held by the Trustee, and any other cash which is required to be withdrawn, used or applied as provided in this Section,

 (a) may be withdrawn from time to time by the Company free and clear of any Lien to the extent of the Adjusted Property Additions Basis
(or, as provided below in this clause (a), the Property Additions Basis) of Property Additions constituting Unfunded Property, described in an Expert’s Certificate, dated not more than ninety (90) days prior to the date of the
Company Order requesting such withdrawal and complying with clause (ii) and, to the extent applicable, clause (iii) in Section 5.02(b), delivered to the Trustee; provided, however,
that, for purposes of the above, the Property Additions Basis shall be substituted in lieu of the Adjusted Property Additions Basis if such Property Additions were acquired, made or constructed on or after the ninetieth (90th) day preceding the date
of such Company Order; 
 (b) may be withdrawn from time to time by the Company free and clear of any Lien in an amount equal to ten-sevenths (10/7ths) of the aggregate principal amount of Bonds to the authentication and delivery of which the Company shall be entitled under the provisions of Section 5.03 hereof, by
virtue of compliance with all applicable provisions of Section 5.03 (except as hereinafter in this Section otherwise provided); provided, however, that such withdrawal of cash shall operate as a waiver by the
Company of the right to the authentication and delivery of such Bonds and, to such extent, no such Bonds may thereafter be authenticated and delivered hereunder; and any such Bonds which were the basis of such right to the authentication and
delivery of Bonds so waived shall be deemed to have been made the basis of such withdrawal of cash; 

  
 -75- 

 (c) may be withdrawn from time to time by the Company free and clear of any Lien in an
amount equal to ten-sevenths (10/7ths) of the aggregate principal amount of any Outstanding Bonds delivered to the Trustee; 

(d) may, upon delivery of a Company Request to the Trustee, be used by the Trustee for the purchase of Bonds in the manner, at the time or
times, in the amount or amounts, at the price or prices (not exceeding ten-sevenths (10/7ths) of the principal amount thereof) and otherwise as directed or approved by the Company, all subject to the
limitations hereafter in this Section set forth; or 
 (e) may, upon delivery of a Company Request to the Trustee, be applied by the Trustee
to the payment (or provision therefor pursuant to Article IX) at Stated Maturity of any Bonds or to the redemption (or similar provision therefor) of any Bonds which are, by their terms, redeemable, in each case of such series as may be
designated by the Company, any such redemption to be in the manner and as provided in Article VI, all subject to the limitations hereafter in this Section set forth. 

Such moneys shall, from time to time, be paid or used or applied by the Trustee, as aforesaid, upon the request of the Company in a Company
Order, and upon receipt by the Trustee of an Officer’s Certificate stating that, to the knowledge of the signer, no Event of Default has occurred and is continuing. If and to the extent that the withdrawal of cash is based upon Property
Additions (as permitted under the provisions of clause (a) above), the Company shall, subject to the provisions of said clause (a) and except as hereafter in this paragraph provided, comply with clauses
(ii) through (v) of Section 5.02(b) as if such Property Additions were made the basis for the authentication and delivery of Bonds equal in principal amount to seventy percent (70%) of the cash so to be
withdrawn, but recognizing that the action to be taken is the release of Funded Cash rather than the authentication and delivery of Bonds. Any Property Additions which have become the basis for the withdrawal of cash pursuant to this Section shall
constitute Funded Property. If and to the extent that the withdrawal of cash is based upon the right to the authentication and delivery of Bonds (as permitted under the provisions of clause (b) above), the Company shall, except as
hereafter in this paragraph provided, comply with Section 5.03(b) relating to such authentication and delivery, but recognizing that the action to be taken is the release of Funded Cash rather than the authentication and
delivery of Bonds. Notwithstanding the foregoing provisions of this paragraph, in no event shall the Company be required to deliver the documents specified in Section 5.01. 

Notwithstanding the generality of clauses (d) and (e) above, no cash to be applied pursuant to such clauses shall be
applied to the payment of an amount in excess of the principal amount of any Bonds to be purchased, paid or redeemed except to the extent that the aggregate principal amount of all Bonds theretofore, and of all Bonds then to be, purchased, paid or
redeemed pursuant to such clauses is not less than the aggregate cost for principal of, premium, if any, and accrued interest, if any, on and brokerage commissions, if any, with respect to, such Bonds. 

Any Outstanding Bonds delivered to the Trustee pursuant to clause (c) in this Section shall forthwith be canceled by the Trustee.

  
 -76- 

 SECTION 8.08. RELEASE OF PROPERTY TAKEN BY EMINENT DOMAIN, ETC. 

Should any of the Mortgaged Property, or any interest therein, be taken by exercise of the power of eminent domain or be sold to an entity
possessing the power of eminent domain under a threat to exercise the same, and should the Company elect not to obtain the release of such property pursuant to other provisions of this Article, the Trustee shall, upon request of the Company
evidenced by a Company Order transmitting therewith a form of instrument to effect such release, release from the lien hereof all its right, title and interest in and to the property so taken or sold (or with respect to an interest in property,
subordinate the lien hereof to such interest), upon receiving (a) an Opinion of Counsel to the effect that such property has been taken by exercise of the power of eminent domain or has been sold to an entity possessing the power of eminent
domain under threat of an exercise of such power, (b) an Officer’s Certificate stating the amount of net proceeds received or to be received for such property so taken or sold, and the amount so stated shall be deemed to be the Fair Value
of such property for the purpose of any notice to the Holders of Bonds, (c) if any portion of such property constitutes Funded Property, an Expert’s Certificate stating the Funded Property Basis thereof and (d) if any portion of such
property constitutes Funded Property, a deposit by the Company of an amount in cash equal to seventy percent (70%) of the Funded Property Basis stated in the Expert’s Certificate delivered pursuant to clause (c) above, such deposit
to constitute Mortgaged Property; provided, however, that the amount required to be so deposited shall not exceed the portion of the net proceeds received or to be received for such property so taken or sold which is allocable on a pro-rata or other reasonable basis to the portion of such property constituting Funded Property; and provided, further, that the net proceeds of such taking or sale required to be deposited pursuant to
this Section shall be reduced by the amount of cash or other consideration that has been delivered to or otherwise deposited with a holder of a Senior Lien securing Senior Lien Obligations in accordance with the provisions of such Senior Lien, all
as stated in an Officer’s Certificate delivered to the Trustee (which shall also state that such cash or consideration has not previously been applied by the Company as a credit against any other deposit of cash required to be made by the
Company under this Indenture). Any cash deposited with the Trustee under this Section may thereafter be withdrawn, used or applied in the manner, to the extent and for the purposes, and subject to the conditions, provided in
Section 8.07. 
 SECTION 8.09. DISCLAIMER OR QUITCLAIM. 

In case the Company has sold, exchanged, dedicated, pledged, assigned, transferred or otherwise disposed of, or has agreed or intends to sell,
exchange, dedicate, pledge, assign, transfer or otherwise dispose of, or a Governmental Authority has ordered the Company to divest itself of, any Excepted Property or any other property not subject to the lien hereof, or the Company desires to
disclaim or quitclaim title to property to which the Company does not purport to have title, the Trustee shall, from time to time, disclaim or quitclaim such property and any interest it may have therein upon receipt by the Trustee of the following:

 (a) a Company Order requesting such disclaimer or quitclaim and transmitting therewith a form of instrument to effect such disclaimer or
quitclaim; 
 (b) an Officer’s Certificate describing the property to be disclaimed or quitclaimed; and 

(c) an Opinion of Counsel stating the signer’s opinion that such property does not constitute Mortgaged Property. 

  
 -77- 

 SECTION 8.10. MISCELLANEOUS. 

(a) If the Fair Value of the property to be released from the lien of this Indenture in accordance with any provision of this Article plus the
Fair Value of all other property released since the commencement of the then current calendar year, as set forth in the certificates required by this Indenture, is ten percent (10%) or more of the aggregate principal amount of the Bonds at the time
Outstanding, an Independent Expert shall be required to make the certifications in the Expert’s Certificate required pursuant to this Article as to the Fair Value of the property to be released and as to the nonimpairment of the security under
this Indenture. Notwithstanding the previous sentence, an Expert’s Certificate shall not be required to be made by an Independent Expert in the case of any release of property if the Fair Value of such property to be released, as set forth in
the certificates required by this Indenture, is a De Minimis Amount. To the extent that the Fair Value of any property to be released from the lien of this Indenture shall be stated in an Independent Expert’s Certificate, such Fair Value shall
not be required to be stated in any other Expert’s Certificate delivered in connection with such release. 
 (b) No release of property
from the lien of this Indenture effected in accordance with the provisions, and in compliance with the conditions, set forth in this Article and in Sections 1.04 and 1.05 shall be deemed to impair the security of this Indenture in
contravention of any provision hereof. 
 (c) If the Mortgaged Property shall be in the possession of a receiver or trustee, lawfully
appointed, the powers hereinbefore conferred upon the Company with respect to the release of any part of the Mortgaged Property or any interest therein or the withdrawal of cash may be exercised, with the approval of the Trustee, by such receiver or
trustee, notwithstanding that an Event of Default may have occurred and be continuing, and any request, certificate, appointment or approval made or signed by such receiver or trustee for such purposes shall be as effective as if made by the Company
or any of its officers or appointees in the manner herein provided; and if the Trustee (or its nominee) shall be in possession of the Mortgaged Property under any provision of this Indenture, then such powers may be exercised by the Trustee (or its
nominee), acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding, notwithstanding that an Event of Default may have occurred and be continuing. 

(d) If the Company shall retain any interest in any property released from the lien of this Indenture as provided in
Section 8.03, 8.04 or 8.05, this Indenture shall not become or be, or be required to become or be, a Lien upon such property or such interest therein or any improvements, extensions or additions to such
property or renewals, replacements or substitutions of or for such property or any part or parts thereof or any proceeds of any of the foregoing unless the Company shall execute and deliver to the Trustee an indenture supplemental hereto, in
recordable form, containing a grant, conveyance, transfer and mortgage thereof. As used in this subsection, the terms “improvements”, “extensions” and “additions” shall be limited as set forth in
Section 13.01. 

  
 -78- 

 (e) Notwithstanding the occurrence and continuance of an Event of Default, the Trustee may
release from the lien hereof any part of the Mortgaged Property or permit the withdrawal of cash, upon compliance with the other conditions specified in this Article in respect thereof. 

(f) No purchaser or grantee of property purporting to have been released hereunder shall be bound to ascertain the authority of the Trustee to
execute the release, or to inquire as to any facts required by the provisions hereof for the exercise of such authority; nor shall any purchaser or grantee of any property or rights permitted by this Article to be sold, granted, exchanged, dedicated
or otherwise disposed of, be under obligation to ascertain or inquire into the authority of the Company to make any such sale, grant, exchange, dedication or other disposition. 

SECTION 8.11. PRIORITY OF PURCHASE MONEY LIENS. 

The Trustee hereby acknowledges and agrees to subordinate the lien of this Indenture to any Purchase Money Lien or conservation easement upon
receipt by the Trustee of (i) a Company Request for any such subordination which includes a description of the Purchase Money Lien or the conservation easement to which this Indenture is being subordinated, (ii) an Officer’s
Certificate stating that no Event of Default has occurred and is continuing to the knowledge of the signer, that the mortgage or other instrument or agreement with respect to which a subordination is being requested is a Purchase Money Lien or
conservation easement and stating that such Purchase Money Lien or conservation easement does not encumber any Funded Property, and (iii) a form of instrument appropriate and reasonably satisfactory to the Trustee to effect such subordination.
Upon receipt of the foregoing, the Trustee hereby agrees to promptly execute, acknowledge and deliver the instrument described in clause (iii) above or any other instrument (in form and substance reasonably satisfactory to the Trustee)
that the Company may request in order to evidence or effect the subordination as requested by the Company. Notwithstanding the foregoing, nothing herein shall require the Trustee to, and the Trustee shall not unless otherwise permitted under the
terms of this Indenture, subordinate the lien of this Indenture to any Purchase Money Lien or conservation easement which encumbers Funded Property. 

ARTICLE IX 
 SATISFACTION
AND DISCHARGE 
 SECTION 9.01. SATISFACTION AND DISCHARGE OF BONDS. 

Any Bond or Bonds, or any portion of the principal amount thereof, shall be deemed to have been paid and no longer Outstanding for all purposes
of this Indenture, and the entire indebtedness of the Company in respect thereof shall be satisfied and discharged, if there shall have been irrevocably deposited with the Trustee or any Paying Agent (other than the Company), in trust: 

(a) money (including Funded Cash not otherwise applied pursuant to Section 8.07) in an amount which shall be
sufficient, or 

  
 -79- 

 (b) in the case of a deposit made prior to the Maturity of such Bonds or portions thereof,
Eligible Obligations, which shall not contain provisions permitting the redemption or other prepayment thereof at the option of the issuer thereof, the principal of and the interest on which when due, without any regard to reinvestment thereof, will
provide moneys which, together with the money, if any, deposited with or held by the Trustee or such Paying Agent, shall be sufficient, or 

(c) a combination of (a) or (b) which shall be sufficient to pay when due the principal of and premium, if any, and interest, if any, due
and to become due on such Bonds or portions thereof; provided, however, that in the case of the provision for payment or redemption of less than all the Bonds of any series or Tranche, such Bonds or portions thereof shall have been
selected as provided in Section 6.03 herein and, in the case of a redemption, the notice requisite to the validity of such redemption shall have been given or irrevocable authority shall have been given by the Company to the Trustee to give
such notice, under arrangements satisfactory to the Trustee; and provided, further, that the Company shall have delivered to the Trustee and such Paying Agent: 

(x) if such deposit shall have been made prior to the Maturity of such Bonds, a Company Order stating that the money and
Eligible Obligations deposited in accordance with this Section shall be held in trust, as provided in Section 9.03; 

(y) if Eligible Obligations shall have been deposited, an Opinion of Counsel to the effect that such obligations constitute
Eligible Obligations and do not contain provisions permitting the redemption or other prepayment thereof at the option of the issuer thereof, and an opinion of an Independent public Accountant of nationally recognized standing, selected by the
Company, to the effect that the other requirements set forth in clause (b) above have been satisfied; and 
 (z)
if such deposit shall have been made prior to the Maturity of such Bonds, an Officer’s Certificate stating the Company’s intention that, upon delivery of such Officer’s Certificate, its indebtedness in respect of such Bonds or
portions thereof will have been satisfied and discharged as contemplated in this Section. 
 Upon the deposit of money or Eligible
Obligations, or both, in accordance with this Section, together with the documents required by clauses (x), (y) and (z) above, the Trustee shall, upon Company Request, acknowledge in writing that such Bonds or portions
thereof are deemed to have been paid for all purposes of this Indenture and that the entire indebtedness of the Company in respect thereof has been satisfied and discharged as contemplated in this Section. In the event that all of the conditions set
forth in the preceding paragraph shall have been satisfied in respect of any Bonds or portions thereof except that, for any reason, the Officer’s Certificate specified in clause (z) (if otherwise required) shall not have been delivered,
such Bonds or portions thereof shall nevertheless be deemed to have been paid for all purposes of this Indenture, and the Holders of such Bonds or portions thereof shall nevertheless be no longer entitled to the benefit of the lien of this Indenture
(other than with respect to such deposit, which 

  
 -80- 

 
shall constitute Mortgaged Property) or of any of the covenants of the Company under Article VII (except the covenants contained in Sections 7.02 and 7.03) or any other
covenants made in respect of such Bonds or portions thereof as contemplated by Section 3.01, but the indebtedness of the Company in respect of such Bonds or portions thereof shall not be deemed to have been satisfied and
discharged prior to Maturity for any other purpose; and, upon Company Request, the Trustee shall acknowledge in writing that such Bonds or portions thereof are deemed to have been paid for all purposes of this Indenture. 

If payment at Stated Maturity of less than all of the Bonds of any series, or any Tranche thereof, is to be provided for in the manner and
with the effect provided in this Section, such Bonds, or portions of principal amount thereof, shall be selected in the manner specified by Section 6.03 for selection for redemption of less than all the Bonds of a series or
Tranche. 
 In the event that Bonds which shall be deemed to have been paid for purposes of this Indenture, and, if such is the case, in
respect of which the Company’s indebtedness shall have been satisfied and discharged, all as provided in this Section, do not mature and are not to be redeemed within the sixty (60) day period commencing with the date of the deposit of
moneys or Eligible Obligations, as aforesaid, the Company shall, as promptly as practicable, give a notice, in the same manner as a notice of redemption with respect to such Bonds, to the Holders of such Bonds to the effect that such deposit has
been made and the effect thereof. 
 Notwithstanding that any Bonds shall be deemed to have been paid for purposes of this Indenture, as
aforesaid, the obligations of the Company and the Trustee in respect of such Bonds under Sections 3.04, 3.05, 3.06, 6.04, 7.02, 7.03, 11.07 and 11.15 and this Article, and the Trustee’s
rights under Article XI, shall survive. 
 The Company shall pay, and shall indemnify the Trustee or any Paying Agent with which Eligible
Obligations shall have been deposited as provided in this Section against, any tax, fee or other charge imposed on or assessed against such Eligible Obligations or the principal or interest received in respect of such Eligible Obligations,
including, but not limited to, any such tax payable by any entity deemed, for tax purposes, to have been created as a result of such deposit. 

Anything herein to the contrary notwithstanding, (a) if, at any time after a Bond would be deemed to have been paid for purposes of this
Indenture, and, if such is the case, the Company’s indebtedness in respect thereof would be deemed to have been satisfied and discharged, pursuant to this Section (without regard to the provisions of this paragraph), the Trustee or any Paying
Agent, as the case may be, shall be required to return the money or Eligible Obligations, or combination thereof, deposited with it as aforesaid to the Company or its representative under any applicable federal or state bankruptcy, insolvency or
other similar law, such Bond shall thereupon be deemed retroactively not to have been paid and any satisfaction and discharge of the Company’s indebtedness in respect thereof shall retroactively be deemed not to have been effected, and such
Bond shall be deemed to remain Outstanding and (b) any satisfaction and discharge of the Company’s indebtedness in respect of any Bond shall be subject to the provisions of the last paragraph of Section 7.03. 

  
 -81- 

 SECTION 9.02. SATISFACTION AND DISCHARGE OF INDENTURE. 

This Indenture shall upon Company Request cease to be of further effect (except as hereinafter expressly provided), and the Trustee, at the
expense of the Company, shall execute such instruments as the Company shall reasonably request to evidence and acknowledge the satisfaction and discharge of this Indenture, when: 

(a) no Bonds remain Outstanding hereunder; 

(b) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 

(c) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel each stating that all conditions
precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 provided, however, that
if, in accordance with the last paragraph of Section 9.01, any Bond, previously deemed to have been paid for purposes of this Indenture, shall be deemed retroactively not to have been so paid, this Indenture shall thereupon
be deemed retroactively not to have been satisfied and discharged, as aforesaid, and to remain in full force and effect, and the Company shall execute and deliver such instruments as the Trustee shall reasonably request to evidence and acknowledge
the same. 
 Notwithstanding the satisfaction and discharge of this Indenture as aforesaid, the obligations of the Company and the Trustee
under Sections 3.04, 3.05, 3.06, 6.04, 7.02, 7.03, 11.07 and 11.15 and this Article, and the Trustee’s rights under Article XI, shall survive. 

Upon satisfaction and discharge of this Indenture as provided in this Section, the Trustee shall quit claim and otherwise turn over to the
Company the Mortgaged Property (other than money and Eligible Obligations held by the Trustee pursuant to Section 9.03) and shall execute and deliver to the Company such deeds and other instruments (in form and substance
reasonably satisfactory to the Trustee) as, in the judgment of the Company, shall be necessary, desirable or appropriate to effect or evidence such release and quitclaim and the satisfaction and discharge of this Indenture. 

SECTION 9.03. APPLICATION OF TRUST MONEY. 

Neither the Eligible Obligations nor the money deposited pursuant to Section 9.01, nor the principal or interest
payments on any such Eligible Obligations, shall be withdrawn or used for any purpose other than, and shall be held in trust for, the payment of the principal of and premium, if any, and interest, if any, on the Bonds or portions of principal amount
thereof in respect of which such deposit was made, all subject, however, to the provisions of Section 7.03; provided, however, that any cash received from such principal or interest payments on such Eligible
Obligations, if not then needed for such purpose, shall, to the extent practicable and upon Company Request and delivery to the Trustee of the documents referred to in subclause (y) of clause (c) in
Section 9.01, be invested pursuant to a Company Order in Eligible Obligations of the type described in clause (b) in Section 9.01 maturing at such times and in such amounts as shall be
sufficient, together with any other moneys and the proceeds of any other Eligible 

  
 -82- 

 
Obligations then held by the Trustee, to pay when due the principal of and premium, if any, and interest, if any, due and to become due on such Bonds or portions thereof on and prior to the
Maturity thereof, and interest earned from such reinvestment shall be paid over to the Company as received, free and clear of the lien of this Indenture, except the lien provided by Section 11.07; and provided,
further, that any moneys held in accordance with this Section on the Maturity of all such Bonds in excess of the amount required to pay the principal of and premium, if any, and interest, if any, then due on such Bonds shall be paid over to
the Company free and clear of the lien of this Indenture, except the lien provided by Section 11.07; and provided, further, that if an Event of Default shall have occurred and be continuing, moneys to be paid
over to the Company pursuant to this Section shall be retained by the Trustee and constitute Mortgaged Property until such Event of Default shall have been waived or cured. 

ARTICLE X 
 EVENTS OF
DEFAULT; REMEDIES 
 SECTION 10.01. EVENTS OF DEFAULT. 

“Event of Default”, wherever used herein with respect to the Bonds, means any of the following events which shall have
occurred and be continuing: 
 (a) the failure to pay interest, if any, on any Bond within sixty (60) days after the same becomes due
and payable; provided, however, that no such default shall constitute an “Event of Default” if the Company has made a valid extension of the interest payment period with respect to the Bonds of such series, of which such Bond is a party,
if so provided as contemplated by Section 3.01; or 
 (b) the failure to pay the principal of or sinking fund
installment, if any, or premium, if any, on any Bond within three (3) Business Days after the same becomes due and payable; provided, however, that no such default shall constitute an “Event of Default” if the Company has made a valid
extension of the Maturity of the Bonds of the series, of which such Bond is a part, if so provided as contemplated by Section 3.01; or 

(c) the failure to perform or breach of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty a default
in the performance of which or breach of which is elsewhere in this Section specifically dealt with) for a period of ninety (90) days after there has been given, by registered or certified mail, return receipt requested, to the Company by the
Trustee, or to the Company and the Trustee by the Holders of at least twenty-five percent (25%) in principal amount of the Bonds then Outstanding, a written notice specifying such default or breach and requiring it to be remedied and stating that
such notice is a “Notice of Default” hereunder, unless the Trustee, or the Trustee and the Holders of a principal amount of Bonds not less than the principal amount of Bonds the Holders of which gave such notice, as the case may be, shall
agree in writing to an extension of such period prior to its expiration; provided, however, that the Trustee, or the Trustee and the Holders of such principal amount of Bonds, as the case may be, shall be deemed to have agreed to an extension of
such period if corrective action is initiated by the Company within such period and is being diligently pursued; or 

  
 -83- 

 (d) the entry by a court having jurisdiction in the Mortgaged Property of (i) a decree
or order for relief in respect of the Company in an involuntary case or proceeding under any applicable federal or state bankruptcy, insolvency, reorganization or other similar law or (ii) a decree or order adjudging the Company a bankrupt or
insolvent, or approving as properly filed a petition by one or more Persons other than the Company seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable federal or state bankruptcy,
insolvency or other similar law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official for the Company or for any substantial part of its property, or ordering the winding up or liquidation of its
affairs, and any such decree or order for relief or any such other decree or order shall have remained unstayed and in effect for a period of ninety (90) consecutive days; or 

(e) the commencement by the Company of a voluntary case or proceeding under any applicable federal or state bankruptcy, insolvency,
reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by the Company to the entry of a decree or order for relief in respect of the Company in an involuntary case or
proceeding under any applicable federal or state bankruptcy, insolvency or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against the Company, or the filing by the Company of a petition or answer or
consent seeking reorganization or relief under any applicable federal or state bankruptcy, insolvency or other similar law, or the consent by the Company to the filing of such petition or to the appointment of or taking possession by a custodian,
receiver, liquidator, assignee, trustee, sequestrator or similar official of the Company or of any substantial part of its property, or the making by the Company of a general assignment for the benefit of creditors, or an admission in writing by the
Company of its inability to pay its debts generally as they become due; or 
 (f) the occurrence of any event of default as defined in any
mortgage, indenture or instrument under which there may be issued, or by which there may be secured or evidenced, any Debt of the Company, whether such Debt exists on the Execution Date or shall thereafter be created, if such event of default: 

(i) is caused by a failure to pay principal after final maturity of such Debt after the expiration of the grace period provided
in such Debt (a “Payment Default”), or 
 (ii) results in the acceleration of such Debt prior to its express
maturity, 
 and in each case, the principal amount of any such Debt, together with the principal amount of any other such Debt under which there has been a
Payment Default or the maturity of which has been so accelerated, aggregates $200,000,000 or more; provided, however, that, anything in this Indenture to the contrary notwithstanding, if such event of default is cured or waived or any
such acceleration rescinded, or such Debt is repaid, within a period of twenty (20) days from the continuation of such event of default beyond the applicable grace period or the occurrence of such acceleration, as the case may be, such Event of
Default under this Indenture shall be automatically cured; provided, further, that with respect to any mortgage, indenture or instrument that exists on the Execution Date, this Section 10.01(f) only applies to
the extent that the obligations to pay amounts thereunder are enforceable after the Effective Date. 

  
 -84- 

 For purposes of Section 10.01(f), the amount of $200,000,000 shall
be increased in any calendar year subsequent to 2020 by the same percentage increase in the CPI Index for the period commencing January 1, 2020 and ending on January 1 of the applicable calendar year. 

SECTION 10.02. ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT. 

If an Event of Default shall have occurred and be continuing, then in every such case the Trustee or the Holders of not less than twenty-five
percent (25%) in aggregate principal amount of Bonds then Outstanding, considered as one class, may declare the principal amount (or, if any of the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in
the terms thereof as contemplated by Section 3.01) of all Bonds then Outstanding to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon such declaration
such principal amount (or specified amount), together with premium, if any, and accrued interest, if any, thereon, shall become immediately due and payable; provided, however, that with respect to an Event of Default described in
Section 10.01(d) or (e), the principal amount (or, if any of the Bonds are Discount Bonds, such portion of the principal amount of such Bonds as may be specified in the terms thereof as contemplated by
Section 3.01) of all Bonds then Outstanding shall be due and payable immediately without further action by the Trustee or Holders. 

At any time after such a declaration of acceleration of the Maturity of the Bonds then Outstanding shall have been made, but before any sale
of any of the Mortgaged Property has been made and before a judgment or decree for payment of the money due shall have been obtained by the Trustee as provided in this Article, the Event or Events of Default giving rise to such declaration of
acceleration shall, without further act and notwithstanding anything to the contrary in Section 316(a) of the Trust Indenture Act, be deemed to have been waived, and such declaration and its consequences shall, without further act, be deemed to
have been rescinded and annulled, if 
 (a) the Company shall have paid or deposited with the Trustee a sum sufficient to pay 

(i) all overdue interest, if any, on all Bonds then Outstanding; 

(ii) the principal of and premium, if any, on any Bonds then Outstanding which have become due otherwise than by such
declaration of acceleration and interest thereon at the rate or rates prescribed therefor in such Bonds; and 
 (iii) all
amounts due to the Trustee under Section 11.07; and 
 (b) any other Event or Events of Default, other than the non-payment of the principal of Bonds which shall have become due solely by such declaration of acceleration, shall have been cured or waived as provided in Section 10.17. 

No such rescission shall affect any subsequent Event of Default or impair any right consequent thereon. 

  
 -85- 

 SECTION 10.03. ENTRY UPON MORTGAGED PROPERTY. 

If an Event of Default shall have occurred and be continuing, the Company, upon demand of the Trustee (acting at the written direction by the
Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) and if and to the extent permitted by law, shall forthwith surrender to the Trustee the actual possession of, and the Trustee, by such officers or agents as
it may appoint, may enter upon and take possession of, the Mortgaged Property; and the Trustee (or its nominee) may hold, operate and manage the Mortgaged Property and make all needful repairs and such renewals, replacements, betterments and
improvements as to the Trustee (acting at the written direction by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding) shall seem prudent; and the Trustee may receive the rents, issues, profits, revenues
and other income of the Mortgaged Property, to the extent, if any, that the same shall not then constitute Excepted Property; and, after deducting the costs and expenses of entering, taking possession, holding, operating and managing the Mortgaged
Property, as well as payments for insurance and taxes and other proper charges upon the Mortgaged Property prior to the lien of this Indenture and reasonable compensation to itself, its agents and counsel, the Trustee may apply the same as provided
in Section 10.07. Whenever all that is then due in respect of the principal of and premium, if any, and interest, if any, on the Bonds and under any of the terms of this Indenture shall have been paid and all defaults
hereunder shall have been cured or shall have been waived as provided in Section 10.17, the Trustee shall surrender possession of the Mortgaged Property to the Company. 

SECTION 10.04. POWER OF SALE; SUITS FOR ENFORCEMENT. 

If an Event of Default shall have occurred and be continuing, the Trustee, by such officers or agents as it shall appoint, with or without
entry, in its discretion may, subject to the provisions of Section 10.16 and if and to the extent permitted by law: 

(a) sell, subject to any mandatory requirements of applicable law, the Mortgaged Property as an entirety, or in such parcels as the Holders of
a majority in principal amount of the Bonds then Outstanding shall in writing request, or in the absence of such request, as the Trustee may determine, to the highest bidder at public auction at such place and at such time (which sale may be
adjourned by the Trustee from time to time in its discretion by announcement at the time and place fixed for such sale, without further notice) and upon such terms as the Trustee may fix and briefly specify in a notice of sale to be published once
in each week for four successive weeks prior to such sale in an Authorized Publication in each Place of Payment for the Bonds of each series; or 

(b) proceed to protect and enforce its rights and the rights of the Holders of Bonds under this Indenture by sale pursuant to judicial
proceedings or by a suit, action or proceeding in equity or at law or otherwise, whether for the specific performance of any covenant or agreement contained in this Indenture or in aid of the execution of any power granted in this Indenture or for
the foreclosure of this Indenture or for the enforcement of any other legal, equitable or other remedy. 

  
 -86- 

 SECTION 10.05. INCIDENTS OF SALE. 

Upon any sale of any of the Mortgaged Property, whether made under the power of sale hereby given or pursuant to judicial proceedings, to the
extent permitted by law: 
 (a) the principal amount (or, if any of the Bonds are Discount Bonds, such portion of the principal amount of
such Bonds as may be specified in the terms thereof as contemplated by Section 3.01) of all Outstanding Bonds, if not previously due, shall at once become and be immediately due and payable, together with premium, if any,
and accrued interest, if any, thereon; 
 (b) any Holder or Holders of Bonds or the Trustee may bid for and purchase the property offered
for sale, and upon compliance with the terms of sale may hold, retain and possess and dispose of such property, without further accountability, and may, in paying the purchase money therefor, deliver any Outstanding Bonds or claims for interest
thereon in lieu of cash to the amount which shall, upon distribution of the net proceeds of such sale, be payable thereon, and such Bonds, in case the amounts so payable thereon shall be less than the amount due thereon, shall be returned to the
Holders thereof after being appropriately stamped to show partial payment; 
 (c) the Trustee may make and deliver to the purchaser or
purchasers a good and sufficient deed, bill of sale and instrument of assignment and transfer of the property sold; 
 (d) the Trustee is
hereby irrevocably appointed the true and lawful attorney of the Company, in its name and stead, to make all necessary deeds, bills of sale and instruments of assignment and transfer of the property so sold; and for that purpose it may execute all
necessary deeds, bills of sale and instruments of assignment and transfer, and may substitute one or more persons, firms or corporations with like power, the Company hereby ratifying and confirming all that its said attorney or such substitute or
substitutes shall lawfully do by virtue hereof; but, if so requested by the Trustee or by any purchaser, the Company shall ratify and confirm any such sale or transfer by executing and delivering to the Trustee or to such purchaser or purchasers all
proper deeds, bills of sale, instruments of assignment and transfer and releases as may be designated in any such request; 
 (e) all right,
title, interest, claim and demand whatsoever, either at law or in equity or otherwise, of the Company of, in and to the property so sold shall be divested and such sale shall be a perpetual bar both at law and in equity against the Company, its
successors and assigns, and against any and all persons claiming or who may claim the property sold or any part thereof from, through or under the Company; and 

(f) the receipt of the Trustee or of the officer making such sale shall be a sufficient discharge to the purchaser or purchasers at such sale
for his or their purchase money and such purchaser or purchasers and his or their assigns or personal representatives shall not, after paying such purchase money and receiving such receipt, be obliged to see to the application of such purchase
money, or be in anywise answerable for any loss, misapplication or non-application thereof. 

  
 -87- 

 SECTION 10.06. COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY TRUSTEE. 

If an Event of Default described in clause (a) or (b) of Section 10.01 shall have occurred and be
continuing, the Company shall, upon demand of the Trustee, pay to it, for the benefit of the Holders of the Bonds with respect to which such Event of Default shall have occurred, the whole amount then due and payable on such Bonds for principal and
premium, if any, and interest, if any, and, in addition thereto, such further amount as shall be sufficient to cover any amounts due to the Trustee under Section 11.07. 

If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may
institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding to judgment or final decree and may enforce the same against the Company or any other obligor upon such Bonds and collect the moneys
adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon such Bonds, wherever situated. 

The Trustee shall, to the extent permitted by law, be entitled to sue and recover judgment as aforesaid either before, during or after the
pendency of any proceedings for the enforcement of the lien of this Indenture, and in case of a sale of the Mortgaged Property or any part thereof and the application of the proceeds of sale as aforesaid, the Trustee, in its own name and as trustee
of an express trust, shall be entitled to enforce payment of, and to receive, all amounts then remaining due and unpaid upon the Bonds then Outstanding for principal, premium, if any, and interest, if any, for the benefit of the Holders thereof, and
shall be entitled to recover judgment for any portion of the same remaining unpaid, with interest as aforesaid. No recovery of any such judgment by the Trustee and no levy of any execution upon any such judgment upon any of the Mortgaged Property or
any other property of the Company shall affect or impair the lien of this Indenture upon the Mortgaged Property or any part thereof or any rights, powers or remedies of the Trustee hereunder, or any rights, powers or remedies of the Holders of the
Bonds. 
 SECTION 10.07. APPLICATION OF MONEY COLLECTED. 

Any money collected by the Trustee pursuant to this Article, including any rents, issues, profits, revenues and other income collected pursuant
to Section 10.03 (after the deductions therein provided) and any proceeds of any sale (after deducting the costs and expenses of such sale, including a reasonable compensation to the Trustee, its agents and counsel, and any
taxes, assessments or Liens prior to the lien of this Indenture, except any thereof subject to which such sale shall have been made), whether made under any power of sale herein granted or pursuant to judicial proceedings, and any money collected by
the Trustee under Section 8.06, together with, in the case of an entry or sale or as otherwise provided herein, any other sums then held by the Trustee as part of the Mortgaged Property, shall be applied in the following
order, to the extent permitted by law, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal or premium, if any, or interest, if any, upon presentation of the Bonds and the notation thereon
of the payment if only partially paid and upon surrender thereof if fully paid: 
 First: To the payment of all amounts due
the Trustee under Section 11.07; 

  
 -88- 

 Second: To the payment of the whole amount then due and unpaid upon the
Outstanding Bonds for principal and premium, if any, and interest, if any, in respect of which or for the benefit of which such money has been collected; and in case such proceeds shall be insufficient to pay in full the whole amount so due and
unpaid upon such Bonds, then to the payment of such principal and interest, if any, thereon without any preference or priority, ratably according to the aggregate amount so due and unpaid, with any balance then remaining to the payment of premium,
if any, and, if so specified as contemplated by Section 3.01 with respect to the Bonds of any series, or any Tranche thereof, interest, if any, on overdue premium, if any, and overdue interest, if any, ratably as aforesaid,
all to the extent permitted by applicable law; provided, however, that any money collected by the Trustee pursuant to Section 8.06 in respect of interest or pursuant to Section 10.03
shall first be applied to the payment of interest accrued on the principal of Outstanding Bonds; and 
 Third: To the payment
of the remainder, if any, to the Company or to whomsoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct. 

SECTION 10.08. RECEIVER. 
 If
an Event of Default shall have occurred and, during the continuance thereof, the Trustee shall have commenced judicial proceedings to enforce any right under this Indenture, the Trustee shall, to the extent permitted by law, be entitled, as against
the Company, without notice or demand and without regard to the adequacy of the security for the Bonds or the solvency of the Company, to the appointment of a receiver of the Mortgaged Property. 

SECTION 10.09. TRUSTEE MAY FILE PROOFS OF CLAIM. 

(a) In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or
other judicial proceeding relative to the Company or any other obligor upon the Bonds or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Bonds shall then be due and
payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such
proceeding or otherwise, to file and prove a claim for the whole amount of principal, premium, if any, and interest, if any, owing and unpaid in respect of the Bonds 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 amounts due to the Trustee under Section 11.07) and of the Holders allowed in such judicial proceeding, and 

(b) to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any
custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to
the making of such payments directly to the Holders, to pay to the Trustee any amounts due it under Section 11.07. 

  
 -89- 

 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Bonds or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any
such proceeding. 
 SECTION 10.10. TRUSTEE MAY ENFORCE CLAIMS WITHOUT POSSESSION OF BONDS. 

All rights of action and claims under this Indenture or on the Bonds may be prosecuted and enforced by the Trustee without the possession of
any of the Bonds or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for
the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders in respect of which such judgment has been recovered. 

SECTION 10.11. LIMITATION ON SUITS. 

No Holder 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: 
 (a) such Holder shall have previously given written notice to the Trustee
of a continuing Event of Default; 
 (b) the Holders of at least twenty-five percent (25%) in aggregate principal amount of the Bonds then
Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(c) such Holder or Holders shall have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred
in compliance with such request; 
 (d) the Trustee for sixty (60) days after its receipt of such notice, request and offer of
indemnity shall have failed to institute any such proceeding; and 
 (e) no direction inconsistent with such written request shall have been
given to the Trustee during such sixty (60) day period by the Holders of at least a majority in aggregate principal amount of the Bonds then Outstanding; 

it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any
provision of this Indenture to affect, disturb or prejudice the lien of this Indenture or the rights of any other of such Holders or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under
this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

  
 -90- 

 SECTION 10.12. UNCONDITIONAL RIGHT OF HOLDERS TO RECEIVE PRINCIPAL, PREMIUM AND INTEREST.

 Notwithstanding any other provision in this Indenture, the Holder of any Bond shall have the right, which is absolute and
unconditional, to receive payment of the principal of and premium, if any, and (subject to Section 3.07) interest, if any, on such Bond on the Stated Maturity or Maturities expressed in such Bond (or, in the case of
redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 

SECTION 10.13. RESTORATION OF RIGHTS AND REMEDIES. 

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

SECTION 10.14. RIGHTS AND REMEDIES CUMULATIVE. 

Except as otherwise provided in the last paragraph of Section 3.06, no right or remedy herein conferred upon or
reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or
now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

Anything in this Article to the contrary notwithstanding, the availability of the remedies set forth herein (on an individual or cumulative
basis) and the procedures set forth herein relating to the exercise thereof shall be subject to (a) the law (including, for purposes of this paragraph, general principles of equity) of any jurisdiction wherein the Mortgaged Property or any part
thereof is located to the extent that such law is mandatorily applicable and (b) the rights of any Senior Lienholder and, if and to the extent that any provision of this Article conflicts with any provision of such applicable law and/or with
the rights of such Senior Lienholder such provision of law and/or the rights of such holder shall control. 
 SECTION 10.15. DELAY OR OMISSION
NOT WAIVER. 
 No delay or omission of the Trustee or of any Holder to exercise any right or remedy accruing upon any Event of
Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time to time,
and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

  
 -91- 

 SECTION 10.16. CONTROL BY HOLDERS OF BONDS. 

If an Event of Default shall have occurred and be continuing, the Holders of not less than a majority in principal amount of the Bonds then
Outstanding shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee hereunder; provided, however, that

 (a) such direction shall not be in conflict with any rule of law or with this Indenture, and could not involve the Trustee in personal
liability in circumstances where indemnity would not, in the Trustee’s sole discretion, be adequate, and 
 (b) the Trustee may take
any other action deemed proper by the Trustee which is not inconsistent with such direction. 
 SECTION 10.17. WAIVER OF PAST DEFAULTS.

 Before any sale of any of the Mortgaged Property and before a judgment or decree for payment of the money due shall have been obtained
by the Trustee as in this Article provided, the Holders of not less than a majority in principal amount of the Bonds then Outstanding may on behalf of the Holders of all the Bonds then Outstanding waive any past default hereunder and its
consequences, except a default in the payment of the principal of or premium, if any, or interest, if any, on any Bond Outstanding, or in respect of a covenant or provision hereof which under Section 14.02 cannot be
modified or amended without the consent of the Holder of each Outstanding Bond of any series or Tranche affected. 
 Upon any such waiver,
such default shall cease to exist, and any and all Events of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right
consequent thereon. 
 SECTION 10.18. UNDERTAKING FOR COSTS. 

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

  
 -92- 

 SECTION 10.19. WAIVER OF APPRAISEMENT AND OTHER LAWS. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any appraisement, valuation, stay, extension or redemption law, now or hereafter in effect, in order to prevent or hinder the enforcement of this Indenture or the absolute sale of the Mortgaged
Property, or any part thereof, or the possession thereof, or any part thereof, by any purchaser at any sale under this Article; and the Company, for itself and all who may claim under it, so far as it or they now or hereafter may lawfully do so,
hereby waives the benefit of all such laws. The Company, for itself and all who may claim under it, waives, to the extent that it may lawfully do so, all right to have the Mortgaged Property marshalled upon any foreclosure of the lien hereof, and
agrees that any court having jurisdiction to foreclose the lien of this Indenture may order the sale of the Mortgaged Property as an entirety. 

In addition, and without limiting the generality of the foregoing, the Company, for itself and all who may claim under it, waives, to the
extent that it may lawfully do so, the benefits and protections of Sections 2924, 2924b and 2924c of the California Civil Code and Section 726(a) of the California Code of Civil Procedure, and any amendments thereto or replacements thereof.

 ARTICLE XI 
 THE
TRUSTEE 
 SECTION 11.01. CERTAIN DUTIES AND RESPONSIBILITIES. 

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

(b) In case an Event of Default shall have occurred and be continuing, the Trustee shall exercise such of the rights and powers vested in it
by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

  
 -93- 

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

(i) this subsection shall not be construed to limit the effect of subsection (a) 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 shall be
proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (iii) the Trustee shall not be liable with
respect to any action taken, omitted to be taken by it in good faith in accordance with the direction of the Holders of a majority in principal amount of the Outstanding Bonds, as provided herein, relating to the time, method and place of conducting
any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture; and 

(iv) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it. 
 (d) Whether or not therein expressly so provided, every provision of this Indenture relating to the conduct
or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 
 SECTION 11.02. NOTICE
OF DEFAULTS. 
 Within ninety (90) days after the occurrence of any default hereunder, the Trustee shall transmit to all Holders
notice of such default hereunder known to the Trustee, unless such default shall have been cured or waived; provided, however, that, except in the case of a default in the payment of the principal of (or premium, if any) or interest,
if any, on any Bond, or in the payment of any sinking fund installment with respect to a Bond, the Trustee shall be protected in withholding such notice if and so long as the board of directors, executive committee or a trust committee of directors
or a Responsible Officer of the Trustee in good faith determine that the withholding of such notice is in the interest of the Holders; provided, further, that, in the case of any default of the character specified in
Section 10.01(c), no such notice to Holders shall be given until at least sixty (60) days after the occurrence thereof. For the purpose of this Section, the term “default” means any event which is, or after
notice or lapse of time or both would become, an Event of Default. 
 The Trustee shall not be deemed to have knowledge of any default
specified in Section 10.01(c), 10.01(d), 10.01(e) or 10.01(f) hereunder unless and until a Responsible Officer shall have received written notice thereof at its Corporate Trust Office. In the absence of
actual knowledge or written notice, the Trustee may conclusively assume that no such default has occurred and is continuing under this Indenture. Except as otherwise expressly provided herein, the Trustee shall not be bound to ascertain or inquire
as to the performance or observance of any of the terms, conditions, covenants or agreements herein or of any of the documents executed in connection with Bonds issued hereunder, or as to the existence of a default or Event of Default hereunder.

  
 -94- 

 SECTION 11.03. CERTAIN RIGHTS OF TRUSTEE. 

Subject to the provisions of Section 11.01 and to the applicable provisions of the Trust Indenture Act: 

(a) the Trustee may conclusively rely and shall be fully protected in acting or refraining from acting upon any resolution, certificate,
statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper
party or parties; 
 (b) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or
Company Order, or as otherwise expressly provided herein, and any resolution of the Board of Directors may be sufficiently evidenced by a Board Resolution; 

(c) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to
taking, suffering or omitting any action hereunder, the Trustee (unless other evidence is specifically prescribed herein) may, in the absence of bad faith on its part, conclusively rely upon an Officer’s Certificate; 

(d) the Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and
protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
 (e) the Trustee
shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any Holder pursuant to this Indenture, unless such Holder shall have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 
 (f) the
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of
indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or
investigation, it shall (subject to applicable legal requirements) be entitled to examine, during normal business hours, the books, records and Mortgaged Property of the Company, personally or by agent or attorney; 

(g) the Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or
attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder; 

  
 -95- 

 (h) the Trustee shall not be personally liable, in case of entry by it upon the Mortgaged
Property, for debts contracted or liabilities or damages incurred in the prudent management or operation of the Mortgaged Property; 
 (i)
the Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 

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

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

(l) the Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Indenture; 
 (m) beyond the exercise of reasonable care in the custody thereof, the
Trustee shall not have any duty as to any Mortgaged Property 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. The Trustee shall not be responsible for (i) perfecting, maintaining, monitoring, preserving or protecting the security interest or Liens granted under this Indenture or any agreement or instrument contemplated hereby or
thereby, (ii) the filing, re-filing, recording, re-recording or continuing or any document, financing statement, mortgage, assignment, notice, instrument of further
assurance or other instrument in any public office at any time or times or (iii) providing, maintaining, monitoring or preserving insurance on or the payment of taxes with respect to any of the Mortgaged Property. The actions described in items
(i) through (iii) shall be the sole responsibility of the Company. The Trustee shall be deemed to have exercised reasonable care in the custody of the Mortgaged Property in its possession if the Mortgaged Property is accorded treatment
substantially equal to that which it accords its own property and shall not be liable or responsible for any loss or diminution in the value of any of the Mortgaged Property, by reason of the act or omission of any carrier, forwarding agency or
other agent or bailee selected by the Trustee in good faith; 
 (n) the Trustee shall not be responsible for the existence, genuineness or
value of any of the Mortgaged Property or for the validity, perfection, priority or enforceability of the Liens in any of the Mortgaged Property, whether impaired by operation of law or by reason of any of any action or omission to act on its part
hereunder, for the validity or sufficiency of the Mortgaged Property or any agreement or assignment contained therein, for the validity of the title to the Mortgaged Property, for insuring the Mortgaged Property or for the payment of taxes, charges,
assessments or Liens upon the Mortgaged Property or otherwise as to the maintenance of the Mortgaged Property. The Trustee hereby disclaims any representation or warranty to the present and future holders of the Obligations concerning the perfection
of the Liens granted hereunder or in the value of any of the Mortgaged Property; and 

  
 -96- 

 (o) in the event that the Trustee is required to acquire title to an asset for any reason,
or take any managerial action of any kind in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in such Trustee’s sole discretion may cause the Trustee to be considered an “owner or
operator” under any environmental laws or otherwise cause the Trustee to incur, or be exposed to, any environmental liability or any liability under any other federal, state or local law, the Trustee reserves the right, instead of taking such
action, either to resign as Trustee or to arrange for the transfer of the title or control of the asset to a court appointed receiver. The Trustee will not be liable to any person for any environmental liabilities and costs or any environmental
liabilities or contribution actions under any federal, state or local law, rule or regulation by reason of the Trustee’s actions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release or
threatened discharge or release of any hazardous materials into the environment. 
 SECTION 11.04. NOT RESPONSIBLE FOR RECITALS OR ISSUANCE OF
BONDS OR APPLICATION OF PROCEEDS. 
 The recitals contained herein and in the Bonds (except the Trustee’s certificate of
authentication on the Bonds) shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness. The Trustee makes no representations as to the value or condition of
the Mortgaged Property or any part thereof, or as to the title of the Company thereto or as to the security afforded thereby or hereby, or as to the validity or genuineness of any securities at any time pledged and deposited with the Trustee
hereunder, or as to the validity or sufficiency of this Indenture or of the Bonds. The Trustee shall not be accountable for the use or application by the Company of the Bonds or the proceeds thereof or of any money paid to the Company or upon
Company Order under any provision hereof. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Bonds or the proceeds thereof. The Trustee shall have no responsibility to make or to see to
the making of any recording, filing or registration of any instrument or notice (including any tax or securities form) (or any rerecording, refiling or reregistration of any thereof) at any time in any public office or elsewhere for the purpose of
perfecting, maintaining the perfection of or otherwise making effective the lien of this Indenture or for any other purpose and shall have no responsibility for seeing to the insurance on the Mortgaged Property or for paying any taxes relating to
the Mortgaged Property or for otherwise maintaining the Mortgaged Property, including, but not limited to, attending to any environmental matters in respect thereof or disposing of any hazardous or other wastes located thereon. 

SECTION 11.05. MAY HOLD BONDS. 

Each of the Trustee, any Authenticating Agent, any Paying Agent, any Bond Registrar or any other agent of the Company or the Trustee, in its
individual or any other capacity, may become the owner or pledgee of Bonds and, subject to Sections 11.08 and 11.13, may otherwise deal with the Company with the same rights it would have if it were not such Trustee, Authenticating
Agent, Paying Agent, Bond Registrar or other agent. 

  
 -97- 

 SECTION 11.06. MONEY HELD IN TRUST. 

Money held by the Trustee in trust hereunder need not be segregated from other funds, except to the extent required by law or as otherwise
provided in the Indenture. The Trustee shall be under no liability for interest on or investment of any money received by it hereunder (provided that the Trustee has invested such money in accordance with a Company Order) except as expressly
provided herein or otherwise agreed with, and for the sole benefit of, the Company. 
 SECTION 11.07. COMPENSATION AND REIMBURSEMENT.

 The Company agrees 
 (a)
to pay to the Trustee from time to time reasonable compensation for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(b) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all reasonable expenses, disbursements and
advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except to the extent that any such expense,
disbursement or advance may be attributable to its negligence, willful misconduct or bad faith; and 
 (c) to indemnify the Trustee (which
for purposes of this Section shall include its officers, directors, employees and agents) and hold it harmless from and against any loss, liability or expense reasonably incurred without negligence, willful misconduct or bad faith on its part,
arising out of or in connection with the acceptance or administration of the trust or trusts hereunder or the exercise or performance of its duties hereunder, including the costs and expenses of defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties hereunder. 
 As security for the performance of the obligations
of the Company under this Section 11.07, the Trustee shall have a lien secured by this Indenture prior to the Bonds upon the Mortgaged Property and upon all other property and funds held or collected by the Trustee as such,
other than property and funds held in trust (i) for the payment of principal, premium, if any, and interest on the Bonds or (ii) under Section 9.03 (except moneys payable to the Company as provided in
Section 9.03). “Trustee” for purposes of this Section shall include any predecessor Trustee; provided, however, that the negligence or willful misconduct or bad faith of any Trustee hereunder shall
not affect the rights of any other Trustee hereunder. 
 In addition and without prejudice to the rights provided to the Trustee under any
of the provisions of this Indenture, when the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 10.01(d) or Section 10.01(e), the expenses
(including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable federal or state bankruptcy, insolvency or other similar law. 

  
 -98- 

 The provisions of this Section shall survive the termination of this Indenture and the
resignation or removal of the Trustee. 
 SECTION 11.08. DISQUALIFICATION; CONFLICTING INTERESTS. 

If the Trustee shall have or acquire any conflicting interest within the meaning of the Trust Indenture Act, it shall either eliminate such
conflicting interest or resign to the extent, in the manner and with the effect, and subject to the conditions, provided in the Trust Indenture Act and this Indenture. For purposes of Section 310(b)(1) of the Trust Indenture Act and to the
extent permitted thereby, the Trustee, in its capacity as trustee in respect of the Bonds of any series, shall not be deemed to have a conflicting interest arising from its capacity as trustee in respect of the Bonds of any other series. 

SECTION 11.09. CORPORATE TRUSTEE REQUIRED; ELIGIBILITY. 

There shall at all times be a Trustee hereunder which shall be 

(i) a corporation organized and doing business under the laws of the United States, any state or territory thereof or the
District of Columbia, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least Fifty Million Dollars ($50,000,000) and subject to supervision or examination by federal or state authority, or

 (ii) if and to the extent permitted by the Commission by rule, regulation or order upon application, a corporation or
other Person organized and doing business under the laws of a foreign government, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least Fifty Million Dollars ($50,000,000) or the Dollar
equivalent of the applicable foreign currency and subject to supervision or examination by authority of such foreign government or a political subdivision thereof substantially equivalent to supervision or examination applicable to United States
institutional trustees, 
 and, in either case, qualified and eligible under this Article and the Trust Indenture Act. If such corporation publishes reports
of condition at least annually, pursuant to law or to the requirements of such supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect
hereinafter specified in this Article. 
 SECTION 11.10. RESIGNATION AND REMOVAL; APPOINTMENT OF SUCCESSOR. 

(a) No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until
the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 11.11. 

  
 -99- 

 (b) The Trustee may resign at any time by giving 30 days prior written notice thereof to the
Company. If the instrument of acceptance by a successor Trustee required by Section 11.11 shall not have been delivered to the Trustee within thirty (30) days after the effectiveness of such notice of resignation, the
resigning Trustee may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
 (c) The Trustee may be
removed at any time by Act of the Holders of a majority in principal amount of the Bonds then Outstanding delivered to the Trustee and to the Company 30 days prior to the effectiveness of such removal. 

(d) If at any time: 

(i) the Trustee shall fail to comply with Section 11.08 after written request therefor by the Company
or by any Holder who has been a bona fide Holder for at least six months, or 
 (ii) the Trustee shall cease to be eligible
under Section 11.09 or Section 310(a) of the Trust Indenture Act and shall fail to resign after written request therefor by the Company or by any such Holder, or 

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

then, in any such case, (x) the Company by a Board Resolution may remove the Trustee or (y) subject to Section 10.18, any
Holder who has been a bona fide Holder for at least six (6) months may, on behalf of itself and all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor
Trustee or Trustees. 
 (e) If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office
of Trustee for any cause (other than as contemplated in clause (y) in subsection (d) of this Section), the Company, by a Board Resolution, shall take prompt steps to appoint a successor Trustee or Trustees and shall comply
with the applicable requirements of Section 11.11. If, within one (1) year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee shall be appointed by Act of the
Holders of a majority in principal amount of the Bonds then Outstanding delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the applicable
requirements of Section 11.11, become the successor Trustee and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee shall have been so appointed by the Company or the Holders and
accepted appointment in the manner required by Section 11.11, the Holders of at least 10% in aggregate principal amount of the then Outstanding Bonds may petition any court of competent jurisdiction for the appointment of a
successor Trustee. 

  
 -100- 

 (f) So long as no event which is, or after notice or lapse of time, or both, would become,
an Event of Default shall have occurred and be continuing, if the Company shall have delivered to the Trustee (i) a Board Resolution appointing a successor Trustee, effective as of a date specified therein, and (ii) an instrument of
acceptance of such appointment, effective as of such date, by such successor Trustee in accordance with Section 11.11, the Trustee shall be deemed to have resigned as contemplated in subsection (b) of this
Section, the successor Trustee shall be deemed to have been appointed pursuant to subsection (e) of this Section and such appointment shall be deemed to have been accepted as contemplated in Section 11.11, all
as of such date, and all other provisions of this Section and Section 11.11 shall be applicable to such resignation, appointment and acceptance except to the extent inconsistent with this
subsection (f). 
 (g) The Company shall give notice of each resignation and each removal of the Trustee and each
appointment of a successor Trustee by mailing written notice of such event by first-class mail, postage prepaid (or, in the case of Global Bonds in accordance with the Depositary’s customary policies and procedures), to all Holders as their
names and addresses appear in the Bond Register. Each notice shall include the name of the successor Trustee and the address of its Corporate Trust Office. 

SECTION 11.11. ACCEPTANCE OF APPOINTMENT BY SUCCESSOR. 

(a) In case of the appointment hereunder of a successor Trustee, every such successor Trustee so appointed shall execute, acknowledge and
deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or
conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee. Such retiring Trustee shall execute and deliver an instrument transferring to such successor Trustee all the rights, powers and trusts of the
retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder, subject nevertheless to its lien provided for in Section 11.07. 

(b) Upon request of any such successor Trustee, the Company shall execute any instruments which fully vest in and confirm to such successor
Trustee all rights, powers and trusts referred to in subsection (a) of this Section. 
 (c) No successor Trustee shall accept
its appointment unless at the time of such acceptance such successor Trustee shall be qualified and eligible under this Article. 
 SECTION 11.12.
MERGER, CONVERSION, CONSOLIDATION OR SUCCESSION TO BUSINESS. 
 Any corporation into which the Trustee may be merged or converted
or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the
Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties
hereto. In case 

  
 -101- 

 
any Bonds shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such
authentication and deliver the Bonds so authenticated with the same effect as if such successor Trustee had itself authenticated such Bonds. 

SECTION 11.13. PREFERENTIAL COLLECTION OF CLAIMS AGAINST COMPANY. 

If the Trustee shall be or become a creditor of the Company or any other obligor upon the Bonds (other than by reason of a relationship
described in Section 311(b) of the Trust Indenture Act), the Trustee shall be subject to any and all applicable provisions of the Trust Indenture Act regarding the collection of claims against the Company or such other obligor. 

SECTION 11.14. CO-TRUSTEES AND SEPARATE TRUSTEES. 

At any time or times, for the purpose of meeting the legal requirements of any jurisdiction in which any of the Mortgaged Property may at the
time be located, the Company and the Trustee shall have power to appoint, and, upon the written request of the Trustee or of the Holders of at least twenty-five percent (25%) in principal amount of the Bonds then Outstanding, the Company shall for
such purpose join with the Trustee in the execution and delivery of all instruments and agreements necessary or proper to appoint, one or more Persons approved by the Trustee and, if no Event of Default shall have occurred and be continuing, by the
Company either to act as co-trustee, jointly with the Trustee, of all or any part of the Mortgaged Property, or to act as separate trustee of any such property, in either case with such powers as may be
provided in the instrument of appointment, and to vest in such Person or Persons, in the capacity aforesaid, any property, title, right or power deemed necessary or desirable, subject to the other provisions of this Section. If the Company does not
join in such appointment within fifteen (15) days after the receipt by it of a request so to do, or if an Event of Default shall have occurred and be continuing, the Trustee alone shall have power to make such appointment. 

Should any written instrument or instruments from the Company be required by any co-trustee or
separate trustee so appointed to more fully confirm to such co-trustee or separate trustee such property, title, right or power, any and all such instruments shall, on request, be executed, acknowledged and
delivered by the Company. 
 Every co-trustee or separate trustee shall, to the extent permitted by
law, but to such extent only, be appointed subject to the following conditions: 
 (i) the Bonds shall be authenticated and
delivered, and all rights, powers, duties and obligations hereunder in respect of the custody of securities, cash and other personal property held by, or required to be deposited or pledged with, the Trustee hereunder, shall be exercised solely, by
the Trustee; 
 (ii) the rights, powers, duties and obligations hereby conferred or imposed upon the Trustee in respect of
any property covered by such appointment shall be conferred or imposed upon and exercised or performed either by the Trustee or by the Trustee and such co-trustee or separate trustee jointly, as shall be
provided in the 

  
 -102- 

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

(v) any Act of Holders delivered to the Trustee shall be deemed to have been delivered to each such co-trustee and separate trustee. 
 SECTION 11.15. APPOINTMENT OF AUTHENTICATING AGENT. 

The Trustee may appoint an Authenticating Agent or Agents with respect to the Bonds of one or more series, or any Tranche thereof, which shall
be authorized to act on behalf of the Trustee to authenticate Bonds of such series or Tranche issued upon original issuance, exchange, registration of transfer or partial redemption thereof or pursuant to Section 3.06, and
Bonds so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever reference is made in this Indenture to the authentication and
delivery of Bonds by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent and a certificate of authentication
executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a corporation organized and doing business under the laws of the United States, any state or
territory thereof or the District of Columbia or the Commonwealth of Puerto Rico, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than Fifty Million Dollars ($50,000,000) and subject to
supervision or examination by federal or state authority. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this
Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time an Authenticating Agent shall cease to be
eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 

  
 -103- 

 Any corporation into which an Authenticating Agent may be merged or converted or with which
it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to all or substantially all of the corporate agency or corporate
trust business of an Authenticating Agent, shall continue to be an Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or any further act on the part of the
Trustee or the Authenticating Agent. 
 An Authenticating Agent may resign at any time by giving written notice thereof to the Trustee and
to the Company. The Trustee may at any time terminate the agency of an Authenticating Agent by giving written notice thereof to such Authenticating Agent and to the Company. Upon receiving such a notice of resignation or upon such a termination, or
in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee may appoint a successor Authenticating Agent which shall be acceptable to the Company. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent. No successor
Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 
 The Company agrees to pay to each
Authenticating Agent from time to time reasonable compensation for its services under this Section. 
 The provisions of Sections
3.08, 11.04 and 11.05 shall be applicable to each Authenticating Agent. 
 If an appointment with respect to the Bonds of
one or more series, or any Tranche thereof, shall be made pursuant to this Section, the Bonds of such series or Tranche may have endorsed thereon, in addition to the Trustee’s certificate of authentication, an alternate certificate of
authentication substantially in the following form: 
 This is one of the Bonds of the series designated therein referred to
in the within-mentioned Indenture. 
  

			
	                                    
                                , as
Trustee

  

			
	
	By
                                         
                                       
	As Authenticating Agent
	
	By
                                         
                                       
	Authorized Officer

  
 -104- 

 If all of the Bonds of a series may not be originally issued at one time, and if the Trustee
does not have an office capable of authenticating Bonds upon original issuance located in a Place of Payment where the Company wishes to have Bonds of such series authenticated upon original issuance, the Trustee, if so requested by the Company in
writing (which writing need not comply with Section 1.04 and need not be accompanied by an Opinion of Counsel), shall appoint, in accordance with this Section and in accordance with such procedures as shall be acceptable to
the Trustee, an Authenticating Agent having an office in a Place of Payment designated by the Company with respect to such series of Bonds. 

ARTICLE XII 
 LISTS OF
HOLDERS; REPORTS BY TRUSTEE AND COMPANY 
 SECTION 12.01. LISTS OF HOLDERS. 

Semiannually, not less than 45 days nor more than 60 days after June 1 and December 1 in each year, commencing December 1, 2020,
and at such other times as the Trustee may request in writing, the Company shall furnish or cause to be furnished to the Trustee, information as to the names and addresses of the Holders as of a date no more than fifteen (15) days prior to the
date such information is so furnished, and the Trustee shall preserve such information and similar information received by it in any other capacity and afford to the Holders access to information so preserved by it, all to such extent, if any, and
in such manner as shall be required by the Trust Indenture Act; provided, however, that no such list need be furnished so long as the Trustee shall be the Bond Registrar. 

SECTION 12.02. REPORTS BY TRUSTEE AND COMPANY. 

Not later than July 15 in each year, commencing July 15, 2021, the Trustee shall transmit to the Holders, the Commission and each
securities exchange upon which any Bonds are listed a report, dated as of the next preceding May 15, with respect to any events and other matters described in Section 313(a) of the Trust Indenture Act, in such manner and to the extent
required by the Trust Indenture Act. The Trustee shall transmit to the Holders, the Commission and each securities exchange upon which any Bonds are listed, and the Company shall file with the Trustee (within thirty (30) days after filing with
the Commission in the case of reports which pursuant to the Trust Indenture Act must be filed with the Commission and furnished to the Trustee) and cause to be transmitted to the Holders, such other information, reports and other documents, if any,
at such times and in such manner, as shall be required by the Trust Indenture Act. Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute
constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on
Officers’ Certificates). The Company shall notify the Trustee in writing of the listing of any Bonds on any securities exchange. 

  
 -105- 

 ARTICLE XIII 

CONSOLIDATION, MERGER, CONVEYANCE OR OTHER TRANSFER 

SECTION 13.01. COMPANY MAY CONSOLIDATE, ETC., ONLY ON CERTAIN TERMS. 

The Company shall not consolidate with or merge with or into any other Person, or convey, or otherwise transfer, or lease, subject to the lien
of this Indenture, all or substantially all of the Mortgaged Property to any Person, unless: 
 (a) the Person formed by such consolidation
or into which the Company is merged or the Person which acquires by conveyance or other transfer, or which leases, all or substantially all of the Mortgaged Property shall be a corporation, shall be organized and existing under the laws of the
United States, any state thereof or the District of Columbia (such corporation being hereinafter sometimes called the “Successor Corporation”) and shall execute and deliver to the Trustee an indenture supplemental hereto, in form
recordable and reasonably satisfactory to the Trustee, which: 
 (i) in the case of a consolidation, merger, conveyance or
other transfer, or in the case of a lease if the term thereof extends beyond the last Stated Maturity of the Bonds then Outstanding, contains an assumption by the Successor Corporation of the due and punctual payment of the principal of and premium,
if any, and interest, if any, on all the Bonds then Outstanding and the performance and observance of every covenant and condition of this Indenture to be performed or observed by the Company, and 

(ii) contains a grant, conveyance, transfer and mortgage by the Successor Corporation, of the same tenor of the Granting
Clauses herein, 
 (A) confirming the lien of this Indenture on the Mortgaged Property (as constituted immediately prior to
the time such transaction became effective) and subjecting to the lien of this Indenture all property (other than Excepted Property), real, personal and mixed, thereafter acquired by the Successor Corporation which shall constitute an improvement,
extension or addition to the Mortgaged Property (as so constituted) or a renewal, replacement or substitution of or for any part thereof, and, at the election of the Successor Corporation, 

(B) subjecting to the lien of this Indenture such property, real, personal or mixed, in addition to the property described in
subclause (A) above, then owned or thereafter acquired by the Successor Corporation as the Successor Corporation shall, in its sole discretion, specify or describe therein, and the lien confirmed or created by such grant, conveyance,
transfer and mortgage shall have force, effect and standing similar to those which the lien of this Indenture would have had if the Company had not been a party to such consolidation, merger, conveyance or other transfer and had itself, after the
time such transaction became effective, purchased, constructed or otherwise acquired the property subject to such grant, conveyance, transfer and mortgage; 

  
 -106- 

 (b) in the case of a lease, such lease shall be made expressly subject to termination by the
Company at any time during the continuance of an Event of Default, and also by the purchaser of the property so leased at any sale thereof hereunder, whether such sale be made under the power of sale hereby conferred or pursuant to judicial
proceedings; 
 (c) immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of the
Company as a result of such transaction as having been incurred by the Company at the time of such transaction, no Default or Event of Default shall have occurred and be continuing; and 

(d) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that the merger,
consolidation, conveyance, lease or transfer, as the case may be, fully complies with all provisions of this Indenture; provided, however, that the delivery of such an Officer’s Certificate and Opinion of Counsel shall not be
required with respect to any merger, consolidation, conveyance, transfer or lease between the Company and any of its wholly-owned Subsidiaries. 

Notwithstanding the foregoing, the Company may merge or consolidate with or transfer all or substantially all of its assets to an Affiliate
that has no significant assets or liabilities and was formed solely for the purpose of changing the jurisdiction of organization of the Company or the form of organization of the Company or for the purpose of forming a holding company; provided that
the amount of indebtedness of the Company is not increased thereby; and provided, further that the successor assumes all obligations of the Company under this Indenture. 

As used in this Article and in Section 8.10(d), the terms “improvement”, “extension” and
“addition” shall be limited to (a) with respect to real property subject to the lien of this Indenture, any item of personal property which has been so affixed or attached to such real property as to be regarded a part of such real
property under applicable law and (b) with respect to personal property subject to the lien of this Indenture, any improvement, extension or addition to such personal property which (i) is made to maintain, renew, repair or improve the
function of such personal property and (ii) is physically installed in or affixed to such personal property. 
 SECTION 13.02. SUCCESSOR
CORPORATION SUBSTITUTED. 
 Upon any consolidation or merger or any conveyance or other transfer, subject to the Lien of this
Indenture, of all or substantially all of the Mortgaged Property in accordance with Section 13.01, the Successor Corporation shall succeed to, and be substituted for, and may exercise every power and right of, the Company
under this Indenture with the same effect as if such Successor Corporation had been named as the “Company” herein. Without limiting the generality of the foregoing: 

(a) all property of the Successor Corporation then subject to the lien of this Indenture, of the character described in
Section 1.03, shall constitute Property Additions; 

  
 -107- 

 (b) the Successor Corporation may execute and deliver to the Trustee, and thereupon the
Trustee shall, subject to the provisions of Article V, authenticate and deliver, Bonds upon any basis provided in Article V; and 

(c) the Successor Corporation may, subject to the applicable provisions of this Indenture, cause Property Additions to be applied to any other
Authorized Purpose. 
 All Bonds so executed by the Successor Corporation, and authenticated and delivered by the Trustee, shall in all
respects be entitled to the benefit of the lien of this Indenture equally and ratably with all Bonds executed, authenticated and delivered prior to the time such consolidation, merger, conveyance or other transfer became effective. 

In case of any such consolidation, merger, sale, conveyance or lease, changes in phraseology and form may be made in the Bonds thereafter to
be issued and the documentation thereafter to be delivered hereunder as may be appropriate to reflect such occurrence. 
 SECTION 13.03. EXTENT
OF LIEN HEREOF ON PROPERTY OF SUCCESSOR CORPORATION. 
 Unless, in the case of a consolidation, merger, conveyance or other transfer
contemplated by Section 13.01, the indenture supplemental hereto contemplated in clause (a) in Section 13.01, or any other indenture, contains a grant, conveyance, transfer and mortgage
by the Successor Corporation as described in subclause (B) thereof, neither this Indenture nor such supplemental indenture shall become or be, or be required to become or be, a Lien upon any of the properties: 

(a) owned by the Successor Corporation or any other party to such transaction (other than the Company) immediately prior to the time of
effectiveness of such transaction or 
 (b) acquired by the Successor Corporation at or after the time of effectiveness of such transaction,

 except, in either case, Mortgaged Property acquired from the Company in or as a result of such transaction and, to the extent not constituting Excepted
Property, improvements, extensions and additions to such properties and renewals, replacements and substitutions of or for any part or parts thereof. 

SECTION 13.04. RELEASE OF COMPANY UPON CONVEYANCE OR OTHER TRANSFER. 

In the case of a conveyance or other transfer to any Person or Persons as contemplated in Section 13.01, upon the
satisfaction of all the conditions specified in Section 13.01, the Company (such term being used in this Section without giving effect to such transaction) shall be released and discharged from all obligations and covenants
under this Indenture and on and under all Bonds then Outstanding (unless the Company shall have delivered to the Trustee an instrument in which it shall waive such release and discharge) and the Trustee shall acknowledge in writing that the Company
has been so released and discharged. 

  
 -108- 

 SECTION 13.05. MERGER INTO COMPANY; EXTENT OF LIEN HEREOF. 

(a) Nothing in this Indenture shall be deemed to prevent or restrict any consolidation or merger after the consummation of which the Company
would be the surviving or resulting company or any conveyance or other transfer, or lease, subject to the lien of this Indenture (unless otherwise expressly provided herein), of any part of the Mortgaged Property which does not constitute the
entirety, or substantially the entirety, thereof. 
 (b) Unless, in the case of a consolidation or merger described in subsection
(a) of this Section, an indenture supplemental hereto shall otherwise provide, this Indenture shall not become or be, or be required to become or be, a Lien upon any of the properties acquired by the Company in or as a result of such
transaction or any improvements, extensions or additions to such properties or any renewals, replacements or substitutions of or for any part or parts thereof. 

ARTICLE XIV 

SUPPLEMENTAL INDENTURES 

SECTION 14.01. SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF HOLDERS. 

Without the consent of any Holders, the Company and the Trustee, at any time and from time to time, may enter into one or more indentures
supplemental hereto for any of the following purposes: 
 (a) to evidence the succession of another Person to the Company and the assumption
by any such successor of the covenants of the Company herein and in the Bonds, all as provided in Article XIII; or 
 (b) to add one
or more covenants of the Company or other provisions for the benefit of all Holders or for the benefit of the Holders of, or to remain in effect only so long as there shall be Outstanding, Bonds of one or more specified series, or one or more
specified Tranches thereof; or to surrender any right or power herein conferred upon the Company; or 
 (c) 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 Trustee 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 (including property of Persons other than the Company); or 
 (d) to specify any additional Permitted Liens
with respect to such additional property and to modify Section 8.02 in order to specify therein any additional items with respect to such additional property; or 

(e) to change or eliminate any provision of this Indenture or to add any new provision to this Indenture; provided, however,
that if such change, elimination or addition shall adversely affect the interests of the Holders of Bonds of any series or Tranche in any material respect, such change, elimination or addition shall become effective with respect to such series or
Tranche only when no Bond of such series or Tranche remains Outstanding; or 

  
 -109- 

 (f) to establish the form or terms of Bonds of any series or Tranche as contemplated by
Sections 2.01 and 3.01; or 
 (g) to evidence and provide for the acceptance of appointment hereunder by a separate or
successor Trustee with respect to the Bonds of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee,
pursuant to the requirements of Section 11.11(b); or 
 (h) to provide for the procedures required to permit the
Company to issue, at its option, all or any series or Tranche of, the Bonds as uncertificated securities; or 
 (i) to change any place or
places where (1) the principal of and premium, if any, and interest, if any, on all or any series of Bonds, or any Tranche thereof, shall be payable, (2) all or any series of Bonds, or any Tranche thereof, may be surrendered for
registration of transfer, (3) all or any series of Bonds, or any Tranche thereof, may be surrendered for exchange and (4) notices and demands to or upon the Company in respect of all or any series of Bonds, or any Tranche thereof, and this
Indenture may be served; or 
 (j) to cure any ambiguity, to correct or supplement any provision herein which may be defective or
inconsistent with any other provision herein; or to make any other additions to, deletions from or other changes to the provisions under this Indenture, provided that such additions, deletions and/or other changes shall not adversely affect the
interests of the Holders of Bonds of any series or Tranche in any material respect; or 
 (k) 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 Trust Indenture Act, or under any similar federal statute hereafter enacted, and to add to this Indenture such other provisions as may be
expressly permitted by the Trust Indenture Act, excluding, however the provisions referred to in Section 316(a)(2) of the Trust Indenture Act as in effect at the date as of which this instrument was executed or any corresponding provision in
any similar federal statute hereafter enacted; or 
 (l) in connection with the occurrence of the Lien Effective Date under
Section 4.01, to amend (including to amend and restate) this Indenture to effectuate the lien of this Indenture on the Mortgaged Property; or 

(m) to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the discharge of any
series of Bonds pursuant to Section 9.02; provided that any such action shall not adversely affect the interests of the Holders of Bonds of such series or any other series of Bonds in any material respect; or 

(n) to comply with the rules or regulations of any securities exchange or automated quotation system on which any of the Bonds may be listed
or traded or of any applicable securities depositary. 

  
 -110- 

 Without limiting the generality of the foregoing, if the Trust Indenture Act as in effect at
the Execution Date, or at any time thereafter shall be amended and 
 (x) if any such amendment shall require one or more
changes to any provisions hereof or the inclusion herein of any additional provisions, or shall by operation of law be deemed to effect such changes or incorporate such provisions by reference or otherwise, this Indenture shall be deemed to have
been amended so as to conform to such amendment to the Trust Indenture Act, and the Company and the Trustee may, without the consent of any Holders, enter into an indenture supplemental hereto to evidence such amendment hereof; or 

(y) if any such amendment shall permit one or more changes to, or the elimination of, any provisions hereof which, at the date
of the execution and delivery hereof or at any time thereafter, are required by the Trust Indenture Act to be contained herein or are contained herein to reflect any provisions of the Trust Indenture Act as in effect at such date, this Indenture
shall be deemed to have been amended to effect such changes or elimination, and the Company and the Trustee may, without the consent of any Holders, enter into an indenture supplemental hereto to amend this Indenture to effect such changes or
elimination. 
 SECTION 14.02. SUPPLEMENTAL INDENTURES WITH CONSENT OF HOLDERS. 

Subject to the provisions of Section 14.01, with the consent of the Holders of not less than a majority in aggregate
principal amount of the Bonds of all series then Outstanding under this Indenture, considered as one class, by Act of said Holders delivered to the Company and the Trustee, the Company and the Trustee may enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Indenture; provided, however, that if there shall be Bonds of more than one series Outstanding
hereunder and if a proposed supplemental indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such series, then the consent only of the Holders of a majority in aggregate principal amount of the
Outstanding Bonds of all series so directly affected, considered as one class, shall be required; and provided, further, that if the Bonds of any series shall have been issued in more than one Tranche and if a proposed supplemental
indenture shall directly affect the rights of the Holders of Bonds of one or more, but less than all, of such Tranches, then the consent only of the Holders of a majority in aggregate principal amount of the Outstanding Bonds of all Tranches so
directly affected, considered as one class, shall be required; and provided, further, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Bond of each series or Tranche so directly affected:

 (a) except as otherwise specified in the form or terms of the Bonds of any series as permitted by Sections 2.01 and 3.01
with respect to extending the Stated Maturity of any Bond of such series, change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Bond, or reduce the principal amount thereof or the rate of interest
thereon (or the amount of any installment of interest thereon) or change the method of 

  
 -111- 

 
calculating such rate or reduce any premium payable thereon, or reduce the amount of the principal of any Discount Bond that would be due and payable upon a declaration of acceleration of the
Maturity thereof pursuant to Section 10.02, or change the coin or currency (or other property), in which any Bond or premium, if any, or interest, if any, thereon is payable, or impair the right to institute suit for the
enforcement of any such payment on or after the Maturity of any Bond, without, in any such case, the consent of the Holder of such Bond; or 

(b) permit the creation of any Lien (not otherwise permitted hereby) ranking prior to the lien of this Indenture with respect to all or
substantially all of the Mortgaged Property, or terminate the lien of this Indenture on all or substantially all of the Mortgaged Property or deprive the Holders of the benefit of the lien of this Indenture; or 

(c) reduce the percentage in principal amount of the Outstanding Bonds of any series, or any Tranche thereof, 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 any provision of this Indenture or of any default hereunder and its consequences, or reduce the requirements
of Section 15.04 for quorum or voting; or 
 (d) modify any of the provisions of this Section,
Section 7.09 or Section 10.17 with respect to the Bonds of any series or any Tranche thereof (except to increase the percentages in principal amount referred to in this Section or such other
Sections or to provide that other provisions of this Indenture cannot be modified or waived without the consent of the Holders of all Bonds of such series or Tranche) without, in any such case, the consent of the Holder of each Outstanding Bond of
such series or Tranche; provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section, or the
deletion of this proviso, in accordance with the requirements of Section 14.01(g). 
 A supplemental indenture
which (x) changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of the Holders of, or which is to remain in effect only so long as there shall be Outstanding, Bonds of
one or more specified series, or one or more Tranches thereof, or (y) modifies the rights of the Holders of Bonds of such series or Tranches with respect to such covenant or other provision, shall be deemed not to affect the rights under this
Indenture of the Holders of Bonds of any other series or Tranche. 
 It shall not be necessary for any Act of Holders under this Section to
approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 

Anything in this Indenture to the contrary notwithstanding, if the Officer’s Certificate, supplemental indenture or Board Resolution, as
the case may be, establishing the Bonds of any series or Tranche shall provide that the Company may make certain specified additions, changes or eliminations to or from the Indenture which shall be specified in such Officer’s Certificate,
supplemental indenture or Board Resolution establishing such series or Tranche, (a) the Holders of Bonds of such series or Tranche shall be deemed to have consented to a supplemental indenture containing such additions, changes or eliminations
to or from the Indenture which shall 

  
 -112- 

 
be specified in such Officer’s Certificate, supplemental indenture or Board Resolution establishing such series or Tranche, (b) no Act of such Holders shall be required to evidence such
consent and (c) such consent may be counted in the determination of whether or not the Holders of the requisite principal amount of Bonds shall have consented to such supplemental indenture. 

SECTION 14.03. EXECUTION OF SUPPLEMENTAL INDENTURES. 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby
of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 11.01) shall be fully protected in relying upon, an Officer’s Certificate and 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 which affects the Trustee’s own rights, duties, immunities or
liabilities under this Indenture or otherwise. 
 SECTION 14.04. EFFECT OF SUPPLEMENTAL INDENTURES. 

Upon the execution and delivery of any supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and
such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Bonds theretofore or thereafter authenticated and delivered hereunder shall be bound thereby. Any supplemental indenture permitted by this Article
may restate this Indenture in its entirety, and, upon the execution and delivery thereof, any such restatement shall supersede this Indenture as theretofore in effect for all purposes. 

SECTION 14.05. CONFORMITY WITH TRUST INDENTURE ACT. 

Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 

SECTION 14.06. REFERENCE IN BONDS TO SUPPLEMENTAL INDENTURES. 

Bonds of any series, or any Tranche thereof, authenticated and delivered after the execution of any supplemental indenture pursuant to this
Article may, and shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Bonds of any series, or any Tranche thereof, so
modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Bonds of such series or
Tranche. 
 SECTION 14.07. MODIFICATION WITHOUT SUPPLEMENTAL INDENTURE. 

To the extent, if any, that the terms of any particular series of Bonds shall have been established in or pursuant to a Board Resolution or an
Officer’s Certificate pursuant to a supplemental indenture or a Board Resolution as contemplated by Section 3.01, and not in a supplemental indenture, additions to, changes in or the elimination of any of such terms
may be 

  
 -113- 

 
effected by means of a supplemental Board Resolution or a supplemental Officer’s Certificate, as the case may be, delivered to, and accepted by, the Trustee; provided, however,
that such supplemental Board Resolution or supplemental Officer’s Certificate shall not be accepted by the Trustee or otherwise be effective unless all conditions set forth in this Indenture which would be required to be satisfied if such
additions, changes or elimination were contained in a supplemental indenture shall have been appropriately satisfied. Upon the acceptance thereof by the Trustee, any such supplemental Board Resolution or supplemental Officer’s Certificate shall
be deemed to be a “supplemental indenture” for purposes of Section 14.04 and 14.06 and a “supplemental indenture”, “indenture supplemental” to this Indenture or “instrument”
supplemental to this Indenture for purposes of Section 7.08. 
 ARTICLE XV 

MEETINGS OF HOLDERS; ACTION WITHOUT MEETING 

SECTION 15.01. PURPOSES FOR WHICH MEETINGS MAY BE CALLED. 

A meeting of Holders of Bonds of one or more, or all, series, or any Tranche or Tranches thereof, may be called at any time and from time to
time pursuant to this Article to make, give or take any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be made, given or taken by Holders of Bonds of such series or Tranches. 

SECTION 15.02. CALL, NOTICE AND PLACE OF MEETINGS. 

(a) The Trustee may at any time call a meeting of Holders of Bonds of one or more, or all, series, or any Tranche or Tranches thereof, for any
purpose specified in Section 15.01, to be held at such time and (except as provided in subsection (b) of this Section) at such place as the Trustee shall determine with the approval of the Company. Notice of
every such meeting, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such meeting, shall be given, in the manner provided in Section 1.08, not less than twenty-one (21) nor more than one hundred eighty (180) days prior to the date fixed for the meeting. 

(b) The Trustee may be asked to call a meeting of the Holders of Bonds of one or more, or all, series, or any Tranche or Tranches thereof, by
the Company or by the Holders of at least twenty-five percent (25%) in aggregate principal amount of all of such series and Tranches, considered as one class, for any purpose specified in Section 15.01, by written request
setting forth in reasonable detail the action proposed to be taken at the meeting. If the Trustee shall have been asked by the Company to call such a meeting, the Company shall determine the time and place for such meeting and may call such meeting
by giving notice thereof in the manner provided in subsection (a) of this Section, or shall direct the Trustee, in the name and at the expense of the Company, to give such notice. If the Trustee shall have been asked to call such a
meeting by Holders in accordance with this subsection (b), and the Trustee shall not have given the notice of such meeting within twenty-one (21) days after receipt of such request or shall not
thereafter proceed to cause the meeting to be held as provided herein, then 

  
 -114- 

 
the Holders of Bonds of such series and Tranches, in the principal amount above specified, may determine the time and the place for such meeting, such place to be approved by the Company, and may
call such meeting for such purposes by giving notice thereof as provided in subsection (a) of this Section. 
 (c)
Any meeting of Holders of Bonds of one or more, or all, series, or any Tranche or Tranches thereof, shall be valid without notice if the Holders of all Outstanding Bonds of such series or Tranches are present in person or by proxy and if
representatives of the Company and the Trustee are present, or if notice is waived in writing before or after the meeting by the Holders of all Outstanding Bonds of such series, or any Tranche or Tranches thereof, or by such of them as are not
present at the meeting in person or by proxy, and by the Company and the Trustee. 
 SECTION 15.03. PERSONS ENTITLED TO VOTE AT MEETINGS.

 To be entitled to vote at any meeting of Holders of Bonds of one or more, or all, series, or any Tranche or Tranches thereof, a Person
shall be (a) a Holder of one or more Outstanding Bonds of such series or Tranches or (b) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Bonds of such series or Tranches by such
Holder or Holders. The only Persons who shall be entitled to attend any meeting of Holders of Bonds of any series or Tranche shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its counsel
and any representatives of the Company and its counsel. 
 SECTION 15.04. QUORUM; ACTION. 

The Persons entitled to vote a majority in aggregate principal amount of the Outstanding Bonds of the series and Tranches with respect to which
a meeting shall have been called as hereinbefore provided, considered as one class, shall constitute a quorum for a meeting of Holders of Bonds of such series and Tranches; provided, however, that if any action is to be taken at such
meeting which this Indenture expressly provides may be taken by the Holders of a specified percentage, which is less than a majority, in principal amount of the Outstanding Bonds of such series and Tranches, considered as one class, the Persons
entitled to vote such specified percentage in principal amount of the Outstanding Bonds of such series and Tranches, considered as one class, shall constitute a quorum. In the absence of a quorum within one hour of the time appointed for any such
meeting, the meeting shall, if convened at the request of Holders of Bonds of such series and Tranches, be dissolved. In any other case the meeting may be adjourned for such period as may be determined by the chairman of the meeting prior to the
adjournment of such meeting. In the absence of a quorum at any such adjourned meeting, such adjourned meeting may be further adjourned for such period as may be determined by the chairman of the meeting prior to the adjournment of such adjourned
meeting. Except as provided by Section 15.05(e), notice of the reconvening of any meeting adjourned for more than thirty (30) days shall be given as provided in Section 1.08 not less than ten
(10) days prior to the date on which the meeting is scheduled to be reconvened. Notice of the reconvening of an adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the Outstanding Bonds of such
series and Tranches which shall constitute a quorum. 

  
 -115- 

 Except as limited by Section 14.02, any resolution presented to a
meeting or adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted only by the affirmative vote of the Holders of not less than a majority in aggregate principal amount of the Outstanding Bonds of the series and
Tranches with respect to which such meeting shall have been called, considered as one class; provided, however, that, except as so limited, any resolution with respect to any action which this Indenture expressly provides may be taken
by the Holders of a specified percentage, which is less than a majority, in principal amount of the Outstanding Bonds of such series and Tranches, considered as one class, may be adopted at a meeting or an adjourned meeting duly reconvened and at
which a quorum is present as aforesaid by the affirmative vote of the Holders of such specified percentage in principal amount of the Outstanding Bonds of such series and Tranches, considered as one class. 

Any resolution passed or decision taken at any meeting of Holders of Bonds duly held in accordance with this Section shall be binding on all
the Holders of Bonds of the series and Tranches with respect to which such meeting shall have been held, whether or not present or represented at the meeting. 

SECTION 15.05. ATTENDANCE AT MEETINGS; DETERMINATION OF VOTING RIGHTS; CONDUCT AND ADJOURNMENT OF MEETINGS. 

(a) Attendance at meetings of Holders of Bonds may be in person or by proxy; and, to the extent permitted by law, any such proxy shall remain
in effect and be binding upon any future Holder of the Bonds with respect to which it was given unless and until specifically revoked by the Holder or future Holder (except as provided in Section 1.06(g)) of such Bonds
before being voted. 
 (b) Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it
may deem advisable for any meeting of Holders of Bonds in regard to proof of the holding of such Bonds and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies,
certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise permitted or required by any such regulations and approved by the Company, the
holding of Bonds shall be proved in the manner specified in Section 1.06 and the appointment of any proxy shall be proved in the manner specified in Section 1.06. Such regulations may provide that
written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the proof specified in Section 1.06 or other proof. 

(c) The Trustee shall, by an instrument in writing, appoint a temporary chairman of the meeting, unless the meeting shall have been called by
the Company or by Holders as provided in Section 15.02(b), in which case the Company or the Holders of Bonds of the series and Tranches calling the meeting, as the case may be, shall in like manner appoint a temporary
chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in aggregate principal amount of the Outstanding Bonds of all series and Tranches represented at the meeting,
considered as one class. 

  
 -116- 

 (d) At any meeting each Holder or proxy shall be entitled to one vote for each One Thousand
Dollars ($1,000) principal amount of Outstanding Bonds held or represented by such Holder; provided, however, that no vote shall be cast or counted at any meeting in respect of any Bond challenged as not Outstanding and ruled by the
chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of a Bond or proxy. 

(e) Any meeting duly called pursuant to Section 15.02 at which a quorum is present may be adjourned from time to
time by Persons entitled to vote a majority in aggregate principal amount of the Outstanding Bonds of all series and Tranches represented at the meeting, considered as one class; and the meeting may be held as so adjourned without further notice.

 SECTION 15.06. COUNTING VOTES AND RECORDING ACTION OF MEETINGS. 

The vote upon any resolution submitted to any meeting of Holders shall be by written ballots on which shall be subscribed the signatures of the
Holders or of their representatives by proxy and the principal amounts and serial numbers (or CUSIP numbers in the case of Global Bonds) of the Outstanding Bonds, of the series and Tranches with respect to which the meeting shall have been called,
held or represented by them. The permanent chairman of the meeting shall appoint two (2) inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the
meeting their verified written reports of all votes cast at the meeting. A record in duplicate of the proceedings of each meeting of Holders shall be prepared by the secretary of the meeting and there shall be attached to such record the original
reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that such notice was given as provided in
Section 15.02 and, if applicable, Section 15.04. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be delivered
to the Company, and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

SECTION 15.07. ACTION WITHOUT MEETING. 

In lieu of a vote of Holders at a meeting as hereinbefore contemplated in this Article, any request, demand, authorization, direction, notice,
consent, waiver or other action may be made, given or taken by Holders by one or more written instruments as provided in Section 1.06. 

ARTICLE XVI 
 IMMUNITY OF
INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 
 SECTION 16.01. LIABILITY SOLELY CORPORATE. 

No recourse shall be had for the payment of the principal of or premium, if any, or interest, if any, on any Bonds, or any part thereof, or for
any claim based thereon or otherwise in respect thereof, or of the indebtedness represented thereby, or upon any obligation, covenant or 

  
 -117- 

 
agreement under this Indenture, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or of any predecessor or successor corporation (either
directly or through the Company or a predecessor or successor corporation), whether by virtue of any constitutional provision, statute or rule of law or by the enforcement of any assessment or penalty or otherwise; it being expressly agreed and
understood that this Indenture and all the Bonds are solely corporate obligations and that no personal liability whatsoever shall attach to, or be incurred by, any incorporator, stockholder, member, officer or director, past, present or future, of
the Company or of any predecessor or successor corporation, either directly or indirectly through the Company or any predecessor or successor corporation, because of the indebtedness hereby authorized or under or by reason of any of the obligations,
covenants or agreements contained in this Indenture or in any of the Bonds or to be implied herefrom or therefrom; and such personal liability, if any, is hereby expressly waived and released as a condition of, and as part of the consideration for,
the execution and delivery of this Indenture and the issuance of the Bonds. 
 This instrument may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

[Signature Page Follows] 

  
 -118- 

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

			
	 PACIFIC GAS AND ELECTRIC COMPANY,

as Issuer (Mortgagor)

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

as Trustee (Mortgagee)

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 A notary public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. 
  

			
	STATE OF CALIFORNIA	  	}
		  	}
	COUNTY OF _____________	  	}

 On __________________, before me, ______________, personally appeared ______________, who proved to me on the basis of
satisfactory evidence to be the person(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the
instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 I certify under PENALTY OF PERJURY under the
laws of the State of California that the foregoing paragraph is true and correct. 
  

	
	WITNESS my hand and official seal.
	
	 
	Signature

 (Seal) 

 A notary public or other officer completing this certificate verifies only the identity of the individual
who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. 
  

			
	STATE OF ____________	  	}
		  	}
	COUNTY OF _____________	  	}

 On __________________, before me, ______________, personally appeared ______________, who proved to me on the basis of
satisfactory evidence to be the person(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the
instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 I certify under PENALTY OF PERJURY under the
laws of the State of _________ that the foregoing paragraph is true and correct. 
  

	
	WITNESS my hand and official seal.
	
	 
	Signature

 (Seal) 

 SCHEDULE 1 

FORM OF EXPERT’S CERTIFICATE UNDER SECTION 5.02 

EXPERT’S CERTIFICATE AS TO PROPERTY ADDITIONS 

This Expert’s Certificate as to Property Additions (“Certificate”) is being executed and delivered by [NAME OF EXPERT], as
[POSITION OR TITLE OF EXPERT], and by [NAME OF AUTHORIZED OFFICER], as [TITLE OF AUTHORIZED OFFICER] of Pacific Gas and Electric Company (the “Company”), in connection with the proposed issuance of [DESCRIPTION OF PROPOSED BOND ISSUE] in
the aggregate principal amount of $____________ (the “New Bonds”) under Section 5.02 of that certain Indenture of Mortgage, dated as of ____________, 20__, by and between the Company and The Bank of New York Mellon Trust Company,
N.A., as trustee (the “Indenture”). All capitalized terms used herein, unless otherwise defined herein, shall have the respective meanings assigned to such terms in the Indenture. 

The undersigned hereby certify as to each of the following items in accordance with and as required pursuant to Section 5.02(b)(ii) of
the Indenture: 
  

	1.	 The Property Additions designated by the Company to be made the basis for the authentication and delivery of
the New Bonds are described as follows (the “Designated Property Additions”): 

 [DESCRIBE PROPERTY ADDITIONS]

  

	2.	 All Designated Property Additions constitute Property Additions and are not subject to any Lien thereon prior
to the lien of the Indenture except Permitted Liens. 

  

	3.	 The Cost of the Designated Property Additions is $__________________. 

 

	4.	 [THE DESIGNATED PROPERTY ADDITIONS ARE SUBJECT TO A SENIOR LIEN SECURING SENIOR LIEN OBLIGATIONS. THE
OUTSTANDING PRINCIPAL AMOUNT OF PURCHASE MONEY LIENS WHICH CONSTITUTE SENIOR LIEN OBLIGATIONS IS $____________ AS OF THE DATE OF THIS CERTIFICATE. THE OUTSTANDING PRINCIPAL AMOUNT OF ALL OTHER SENIOR LIEN OBLIGATIONS IS $_________ AS OF THE DATE OF
THIS CERTIFICATE.] 

  

	5.	 The Net Cost of the Designated Property Additions is $_______________. 

 

	6.	 All Designated Property Additions are desirable for use in the conduct of the business, or one of the
businesses, of the Company. 

  

	7.	 All Designated Property Additions, to the extent of the Property Additions Basis thereof which is to be made
the basis of the authentication and delivery of the New Bonds, constitute, prior to the issuance of the New Bonds, Unfunded Property. 

  
 S1-1 

	8.	 [NO PORTION OF THE DESIGNATED PROPERTY ADDITIONS WAS ACQUIRED, MADE OR CONSTRUCTED THROUGH THE DELIVERY OF
SECURITIES OR PROPERTY OTHER THAN CASH; THE AMOUNT OF CASH FORMING ALL OR PART OF THE COST THEREOF WAS EQUAL TO OR MORE THAN $____________.] OR [A PORTION OR ALL OF THE DESIGNATED PROPERTY ADDITIONS WAS ACQUIRED, MADE OR CONSTRUCTED THROUGH THE
DELIVERY OF SECURITIES OR PROPERTY OTHER THAN CASH (SUCH PORTION BEING REFERRED TO HEREIN AS THE “NON-CASH DESIGNATED PROPERTY ADDITIONS”). THE AMOUNT OF CASH FORMING ALL OR PART OF THE COST OF
DESIGNATED PROPERTY ADDITIONS OTHER THAN NON-CASH DESIGNATED PROPERTY ADDITIONS WAS EQUAL TO OR MORE THAN $____________. WITH RESPECT TO NON-CASH DESIGNATED PROPERTY
ADDITIONS, THE FOLLOWING IS A BRIEF DESCRIPTION OF THE NON-CASH DESIGNATED PROPERTY ADDITIONS, THE SECURITIES OR OTHER PROPERTY DELIVERED IN PAYMENT FOR THE ACQUISITION OR CONSTRUCTION THEREOF, THE DATE OF
SUCH DELIVERY AND, IN THE JUDGMENT OF THE UNDERSIGNED, THE FAIR MARKET VALUE IN CASH OF SUCH SECURITIES OR OTHER PROPERTY AT THE TIME OF DELIVERY THEREOF: 

  

									
	 NON-CASH

PROPERTY
	 	 DESIGNATED

ADDITIONS
	 	 SECURITIES

OR
PROPERTY
DELIVERED:
	 	DATE OF
DELIVERY:	 	FAIR
MARKET
VALUE:

  

	9.	 [NO PORTION OF THE DESIGNATED PROPERTY ADDITIONS INCLUDES PROPERTY WHICH CONSTITUTES AN ACQUIRED FACILITY.] OR
[A PORTION OF THE DESIGNATED PROPERTY ADDITIONS INCLUDES PROPERTY WHICH CONSTITUTES AN ACQUIRED FACILITY AND IS DESCRIBED AS FOLLOWS (THE “ACQUIRED FACILITY PORTION”): [DESCRIBE THE ACQUIRED FACILITY PORTION]. IN THE JUDGMENT OF THE
UNDERSIGNED, THE FAIR VALUE TO THE COMPANY OF THE ACQUIRED FACILITY PORTION AS OF THE DATE OF THIS CERTIFICATE [IS/IS NOT] A DE MINIMIS AMOUNT.] 

  

	10.	 In the judgment of the undersigned, the Fair Value to the Company, as of the date of this Certificate, of the
Designated Property Additions (except that portion of the Designated Property Additions with respect to the Fair Value to the Company of which a statement is being made in an Independent Expert’s Certificate) is $_________________.

  

	11.	 The Net Fair Value to the Company, as of the date of this Certificate, of the Designated Property Additions is
$___________________. 

  

	12.	 The Designated Property Additions are subject to Liens of the character described in clause (f) of the
definition of Permitted Liens, and such Liens do not, in the judgment of the undersigned, materially impair the use by the Company of the Mortgaged Property considered as a whole for the purposes for which it is held by the Company; the Designated
Property Additions are subject to Liens of the character described in clause 

  
 S1-2 

	 	
(j)(ii) of the definition of Permitted Liens, and such Liens do not, in the judgment of the undersigned, materially impair the use by the Company of such Mortgaged Property for the purposes for
which it is held by the Company; and the Designated Property Additions are subject to Liens of the character described in clause (q)(ii) of the definition of Permitted Liens, and the enforcement of such Liens would not, in the judgment of the
signers, adversely affect the interests of the Company in such property in any material respect. 

  

	13.	 The aggregate amount which shall be deducted under Section 1.03(b)(i) in respect of Funded Property
Retired is equal to $_______________ and the aggregate amount which the Company has elected to be added under Section 1.03(b)(ii) in respect of Funded Property Retired is $_________________ (which amount to be added does not exceed the amount
to be deducted above). Attached hereto as Annex 1 are the calculations which have been made by the Company pursuant to Section 1.03(b)(i) and (ii). 

 

	14.	 The Adjusted Property Additions Basis of the Designated Property Additions is $_________________.

  

	15.	 Seventy percent (70%) of the Adjusted Property Additions Basis stated in Item 14 above is equal to
$__________________ 

  

	16.	 The aggregate principal amount of New Bonds to be authenticated and delivered on the basis of the Designated
Property Additions is equal to $____________ which amount does not exceed the amount stated in Item 15 above. 

 [Name of
Expert] hereby further certifies as follows: 
  

	 	(a)	 I have read Section 5.02(b)(ii) of the Indenture and the related definitions of defined terms appearing in
said Section 5.02(b)(ii). 

  

	 	(b)	 The statements or opinions I have expressed herein are based upon my examination/investigation of [LIST OR
DESCRIBE THE NATURE AND SCOPE OF THE EXAMINATION OR INVESTIGATION UPON WHICH THE STATEMENTS OR OPINIONS ARE BASED]; 

  

	 	(c)	 In my opinion, I have made such examination or investigation as is necessary to enable me to express an
informed opinion as to whether or not the Company has complied with the requirements of Section 5.02(b)(ii) of the Indenture. 

  

	 	(d)	 In my opinion, the Company has complied with the requirements of Section 5.02(b)(ii) of the Indenture.

  
 S1-3 

 Witness our hands this _____ day of _______, 2___. 

 

	
	[Signature of Expert]
	
	 
	Name:
	Title:

  

	
	[Signature of Authorized Officer]
	
	 
	 Name:

	Title:

  
 S1-4 

 ANNEX 1 

CALCULATIONS PURSUANT TO SECTION 1.03(B) 
  

	A.	 Deductions under Section 1.03(b)(i): 

 

	 	Funded	 Property Basis of all Funded Property Retired as described under Section 1.03(b)(i) of the Indenture:
$_____________ 

  

	B.	 Additions under Section 1.03(b)(ii): 

 

	 	(1)	 Principal amount of Purchase Money Obligations described under Section 1.03(b)(ii)(A) of the Indenture:
$_____________ 

  

	 	(2)	 10/7ths of amount of cash described under Section 1.03(b)(ii)(B) of the Indenture: $____________

  

	 	(3)	 10/7ths of the principal amount of any Bond or Bonds or portion of such principal amount described under
Section 1.03(b)(ii)(C) of the Indenture: $______________ 

  

	 	(4)	 Adjusted Funded Property Basis of Property Additions described under Section 1.03(b)(ii)(D) of the
Indenture: $______________ 

  

	 	(5)	 Net Cost to the Company of any Property Additions described under Section 1.03(b)(ii)(E) of the Indenture:
$___________________ 

  

	C.	 Total of all amounts under Item B. above: $_____________ 

 

	D.	 If amount in Item C. above is equal to or greater than the amount in Item A. above, then the net adjustment to
be made to the Property Additions Basis under Section 1.03(b) shall be equal to zero (0). If the amount in Item C. above is less than the amount in Item A. above, then the net adjustment to be made to the Property Additions Basis under
Section 1.03(b) shall be a reduction in an amount equal to the difference between the amount in Item A. above and the amount in Item C. above. 

  
 S1-5 

 SCHEDULE 2 

FORM OF EXPERT’S CERTIFICATE UNDER SECTION 8.03(c) 

EXPERT’S CERTIFICATE AS TO RELEASE OF FUNDED PROPERTY 

This Expert’s Certificate as to Release of Funded Property (“Certificate”) is being executed and delivered by [NAME OF EXPERT],
as [POSITION OR TITLE OF EXPERT], and by [NAME OF AUTHORIZED OFFICER], as [TITLE OF AUTHORIZED OFFICER] of Pacific Gas and Electric Company (the “Company”), in connection with certain Funded Property described below to be released pursuant
to Section 8.03 of that certain Indenture of Mortgage, dated as of [    ], 2020, by and between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Indenture”). All capitalized terms
used herein, unless otherwise defined herein, shall have the respective meanings assigned to such terms in the Indenture. 
 The undersigned
hereby certify as to each of the following items in accordance with and as required pursuant to Section 8.03(c) of the Indenture: 
  

	1.	 The Funded Property to be released from the lien of the Indenture is described as follows (the “Release
Property”): 

 [DESCRIBE FUNDED PROPERTY] 
  

	2.	 The Fair Value, in the judgment of the undersigned, of the Release Property, together with the Fair Value, in
the judgment of the undersigned, of Unfunded Property, if any, being released concurrently with the Release Property is $___________. 

  

	3.	 The Funded Property Basis of the Release Property is $___________. 

 

	4.	 In the judgment of the undersigned, the release of the Release Property will not impair the security under the
Indenture in contravention of the provisions thereof. 

 [NAME OF EXPERT] hereby further certifies as follows: 

 

	 	a.	 I have read Section 8.03(c) of the Indenture and the related definitions of defined terms appearing in
said Section 8.03(c). 

  

	 	b.	 The statements or opinions I have expressed herein are based upon my examination/investigation of [LIST OR
DESCRIBE THE NATURE AND SCOPE OF THE EXAMINATION OR INVESTIGATION UPON WHICH THE STATEMENTS OR OPINIONS ARE BASED]. 

  

	 	c.	 In my opinion, I have made such examination or investigation as is necessary to enable me to express an
informed opinion as to whether or not the Company has complied with the requirements of Section 8.03(c) of the Indenture. 

  

	 	d.	 In my opinion, the Company has complied with the requirements of Section 8.03(c) of the Indenture.

  
 S2-1 

 
	
	[Signature of Expert]
	
	   

	Name:
	Title:

  

	
	[Signature of Authorized Officer]
	
	   

	Name:
	 Title:

  
 S2-2 

 SCHEDULE 3 

FORM OF OFFICER’S CERTIFICATE UNDER SECTION 8.03(d) 

OFFICER’S CERTIFICATE PURSUANT TO SECTION 8.03(d) 

This Officer’s Certificate Pursuant to Section 8.03(d) (“Certificate”) is being executed and delivered by [NAME OF
AUTHORIZED OFFICER], as [TITLE OF AUTHORIZED OFFICER] of Pacific Gas and Electric Company (the “Company”), in connection with the release of certain Funded Property described in that certain Expert’s Certificate as to Release of
Funded Property dated [THE DATE HEREOF] (the “Expert’s Certificate”) pursuant to Section 8.03 of that certain Indenture of Mortgage, dated as of [    ], 2020, by and between the Company and The Bank of New
York Mellon Trust Company, N.A., as trustee (the “Indenture”). All capitalized terms used herein, unless otherwise defined herein, shall have the respective meanings assigned to such terms in the Indenture. 

The undersigned hereby certifies, as required pursuant to Section 8.03(d) of the Indenture, as follows: 

 

	1.	 The amount of the Funded Property Basis of the Release Property is $_________________, as shown in the
Expert’s Certificate. 

  

	2.	 The taxes and expenses incidental to the sale, exchange, dedication or other disposition of Release Property
total $________________. 

  

	3.	 The aggregate amount of the Cash Deposit Credit Items to be used as the basis for the release of the Release
Property is $_____________, which amount has been calculated as follows: 

  

	 	A.	 $___________: Aggregate principal amount of Purchase Money Obligations delivered to Trustee and secured by
Purchase Money Liens upon the Release Property; 

  

	 	B.	 $___________; [ADJUSTED PROPERTY ADDITIONS BASIS/PROPERTY ADDITIONS BASIS] of Property Additions which
constitute Unfunded Property described in the attached Expert’s Certificate as to Property Additions [IF APPLICABLE, ATTACH EXPERT’S CERTIFICATE BASED ON THE FORM ATTACHED AS SCHEDULE 1 TO THE INDENTURE]; 

 

	 	C.	 $___________; 10/7ths of aggregate principal amount of Bonds the right to the authentication and delivery of
which, under Section 5.03, has been waived by the Company; 

  

	 	D.	 $___________; 10/7ths of the aggregate amount of Outstanding Bonds delivered to the Trustee.

  
 S3-1 

	4.	 The Cash Deposit Amount to be delivered to the Trustee is $___________, which amount is equal to the Funded
Property Basis stated in Item 1, less the amount stated in Item 2, and less the aggregate amount of the Cash Deposit Credit Items stated in Item 3. 

Witness my hand this _____ day of _______, 2___. 
  

	
	[Signature of Authorized Officer]
	
	   

	Name:
	Title:

  
 S3-2 

 SCHEDULE 4 

FORM OF EXPERT’S CERTIFICATE UNDER SECTION 8.04(c) 

EXPERT’S CERTIFICATE AS TO RELEASE OF UNFUNDED PROPERTY 

This Expert’s Certificate as to Release of Unfunded Property (“Certificate”) is being executed and delivered by [NAME OF
EXPERT], as [POSITION OR TITLE OF EXPERT], and by [NAME OF AUTHORIZED OFFICER], as [TITLE OF AUTHORIZED OFFICER] of Pacific Gas and Electric Company (the “Company”), in connection with certain Unfunded Property described below to be
released pursuant to Section 8.04(c) of that certain Indenture of Mortgage, dated as of ____________, 20__, by and between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Indenture”). All capitalized
terms used herein, unless otherwise defined herein, shall have the respective meanings assigned to such terms in the Indenture. 
 The
undersigned hereby certify as to each of the following items in accordance with and as required pursuant to Section 8.04(c) of the Indenture: 
  

	1.	 The Unfunded Property to be released from the lien of the Indenture is described as follows (the “Release
Property”): 

 [DESCRIBE UNFUNDED PROPERTY] 
  

	2.	 The Fair Value, in the judgment of the undersigned, of the Release Property, together with the Fair Value, in
the judgment of the undersigned, of Funded Property, if any, being released concurrently with the Release Property is $______________. 

  

	3.	 [THE RELEASE PROPERTY IS SUBJECT TO A SENIOR LIEN SECURING SENIOR LIEN OBLIGATIONS. THE OUTSTANDING PRINCIPAL
AMOUNT OF PURCHASE MONEY LIENS WHICH CONSTITUTE SENIOR LIEN OBLIGATIONS IS $____________ AS OF THE DATE OF THIS CERTIFICATE. THE OUTSTANDING PRINCIPAL AMOUNT OF ALL OTHER SENIOR LIEN OBLIGATIONS IS $_________ AS OF THE DATE OF THIS CERTIFICATE.]

  

	4.	 The Net Fair Value of the Release Property is $___________. 

 

	5.	 The Cost of the Release Property is $______________ and the Net Cost of the Release Property is $_____________.

  

	6.	 The Property Additions Basis of the Release Property is $_____________. 

 

	7.	 The Release Property constitutes Unfunded Property. 

 

	8.	 [THE AGGREGATE ADJUSTED PROPERTY ADDITIONS BASIS OF ALL PROPERTY ADDITIONS WHICH CONSTITUTE UNFUNDED PROPERTY
(EXCLUDING THE RELEASE PROPERTY) IS NOT LESS THAN ZERO (0).] OR [THE AMOUNT BY WHICH ZERO (0) EXCEEDS THE AGGREGATE ADJUSTED 

  
 S4-1 

	 	
PROPERTY ADDITIONS BASIS OF ALL PROPERTY ADDITIONS WHICH CONSTITUTE UNFUNDED PROPERTY (EXCLUDING THE RELEASE PROPERTY) IS EQUAL TO $____________ (THE
“MAKE-UP AMOUNT”) AND IS CALCULATED AS SET FORTH ON ANNEX 1 ATTACHED HERETO AND THE AMOUNT IN CASH TO BE DEPOSITED WITH BY THE COMPANY, HELD BY THE TRUSTEE, AND CONSTITUTE MORTGAGED PROPERTY IS
$___________.] 

  

	9.	 In the judgment of the undersigned, the release of the Release Property will not impair the security under the
Indenture in contravention of the provisions thereof. 

 [NAME OF EXPERT] hereby further certifies as follows: 

 

	 	a.	 I have read Section 8.04(c) of the Indenture and the related definitions of defined terms appearing in
said Section 8.04(c). 

  

	 	b.	 The statements or opinions I have expressed herein are based upon my examination/investigation of [LIST OR
DESCRIBE THE NATURE AND SCOPE OF THE EXAMINATION OR INVESTIGATION UPON WHICH THE STATEMENTS OR OPINIONS ARE BASED]. 

  

	 	c.	 In my opinion, I have made such examination or investigation as is necessary to enable me to express an
informed opinion as to whether or not the Company has complied with the requirements of Section 8.04(c) of the Indenture. 

  

	 	d.	 In my opinion, the Company has complied with the requirements of Section 8.04(c) of the Indenture.

 Witness our hands this _____ day of _______, 2___. 

 

	
	[Signature of Expert]
	
	   

	Name:
	 Title:

  

	
	[Signature of Authorized Officer]
	
	   

	Name:
	 Title:

  
 S4-2 

 ANNEX 1 

CALCULATION OF MAKE-UP AMOUNT UNDER SECTION 8.04(c) 

 

	1.	 Aggregate Property Additions Basis (lesser of Net Cost or Net Fair Value) of all Property Additions which
constitute Unfunded Property: $________________ 

  

	2.	 Adjustments under Section 1.03(b): $________________ 

 

	3.	 Total Reduction to Property Additions Basis (Item 1 above) per the adjustments under Item 2 above:
$____________ 

  

	4.	 Aggregate Adjusted Property Additions Basis (Item 1 less Item 3): $_______________ 

 

	5.	 Make-up Amount (amount by which zero (0) exceeds Item 4 above):
$____________ 

  
 S4-3 

 SCHEDULE 5 

FORM OF EXPERT’S CERTIFICATE UNDER SECTION 8.05(b)(ii) 

EXPERT’S CERTIFICATE AS TO RELEASE OF PROPERTIES WITHIN ANNUAL LIMITS 

This Expert’s Certificate as to Release of Properties Within Annual Limits Pursuant to Section 8.05 (“Certificate”) is
being executed and delivered by [NAME OF EXPERT], as [POSITION OR TITLE OF EXPERT], and by [NAME OF AUTHORIZED OFFICER], as [TITLE OF AUTHORIZED OFFICER] of Pacific Gas and Electric Company (the “Company”), in connection with certain
property described below to be released pursuant to Section 8.05(b)(ii) of that certain Indenture of Mortgage, dated as of ____________, 20__, by and between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the
“Indenture”). All capitalized terms used herein, unless otherwise defined herein, shall have the respective meanings assigned to such terms in the Indenture. 

The undersigned hereby certify as to each of the following items in accordance with and as required pursuant to Section 8.05(b)(ii) of
the Indenture: 
  

	1.	 The property to be released from the lien of the Indenture is described as follows (the “Release
Property”): 

 [DESCRIBE RELEASE PROPERTY] 
  

	2.	 The Fair Value, in the judgment of the undersigned, of the Release Property is $______________.

  

	3.	 The aggregate Fair Value of all other property theretofore released pursuant to Section 8.05 in 20__ to
date is $____________. 

  

	4.	 [INCLUDE ONLY IF RELEASE PROPERTY CONSTITUTES FUNDED PROPERTY] [The Release Property is Funded Property.] [A
portion of the Release Property is Funded Property.] 

  

	5.	 [INCLUDE ONLY IF RELEASE PROPERTY CONSTITUTES FUNDED PROPERTY] [The Funded Property Basis of the Release
Property that constitutes Funded Property is $___________.] 

  

	6.	 In the judgment of the undersigned, the release of the Release Property will not impair the security under the
Indenture in contravention of the provisions thereof. 

  

	7.	 [INCLUDE ONLY IF RELEASE PROPERTY CONSTITUTES FUNDED PROPERTY] [The statements or opinions we have expressed
herein are based upon examination of and/or investigation into the matters covered by the Expert’s Certificate or Certificates in which the Release Property has been designated as Funded Property for purposes of the Indenture and other records
of the Company relating thereto.] 

  

	8.	 Each of the undersigned further certifies as follows: 

  
 S5-1 

	9.	 (a) I have read Section 8.05(b)(ii) of the Indenture and the related definitions of defined terms
appearing in said Section 8.05(b)(ii). 

 (b) The statements or opinions I have expressed herein are also based upon
my examination or investigation of records of the Company, including records relating to the Release Property and all other property released pursuant to Section 8.05 in 20__ to date, and/or my review of information regarding such matters
provided to me by responsible personnel within the Company operating at my direction or under my supervision. 
 (c) In my opinion, I have
made such examination or investigation as is necessary to enable me to express an informed opinion as to whether or not the Company has complied with the requirements of Section 8.05(b)(ii) of the Indenture. 

 

	10.	 (d) In my opinion, the Company has complied with the requirements of Section 8.05(b)(ii) of the Indenture.

 Witness our hands this _____ day of _______, 2___. 

 

	
	[Signature of Expert]
	
	   

	Name:
	Title:

  

	
	[Signature of Authorized Officer]
	
	   

	Name:
	Title:

  
 S5-2 

 SCHEDULE 6 

FORM OF OFFICER’S CERTIFICATE UNDER SECTION 8.08(B) 

OFFICER’S CERTIFICATE AS TO RELEASE OF PROPERTIES TAKEN BY EMINENT DOMAIN, ETC. 

This Officer’s Certificate Pursuant to Section 8.08(b) (“Certificate”) is being executed and delivered by [NAME OF
AUTHORIZED OFFICER], as [TITLE OF AUTHORIZED OFFICER] of Pacific Gas and Electric Company (the “Company”), in connection with the release of certain Mortgaged Property taken by exercise of the power of eminent domain or sold to an entity
possessing the power of eminent domain under a threat to exercise the same pursuant to Section 8.08(b) of that certain Indenture of Mortgage, dated as of [    ], 2020 (the “Indenture”), by and between the Company
and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”). All capitalized terms used herein, unless otherwise defined herein, shall have the respective meanings assigned to such terms in the Indenture. 

The undersigned hereby certifies, as required pursuant to Section 8.08(b) of the Indenture, as follows: 

 

	1.	 The Mortgaged Property to be released from the lien of the Indenture is described as follows (the “Release
Property”): 

 [DESCRIBE RELEASE PROPERTY] 
  

	2.	 The amount of net proceeds received or to be received for the Release Property is $______________

  

	3.	 [INCLUDE ONLY IF RELEASE PROPERTY CONSTITUTES FUNDED PROPERTY] [The Release Property is Funded Property.] [A
portion of the Release Property is Funded Property.] [IF RELEASE PROPERTY CONSTITUTES FUNDED PROPERTY, COMPLETE EXPERT’S CERTIFICATE PURSUANT TO SECTION 8.08(c).] 

 

	4.	 [INCLUDE ONLY IF RELEASE PROPERTY CONSTITUTES FUNDED PROPERTY] The Company has deposited cash in the amount of
$_________ on the date hereof with the Trustee (the “Cash Deposit Amount”).1 2 

 

	5.	 [INCLUDE ONLY IF RELEASE PROPERTY CONSTITUTES FUNDED PROPERTY] The Cash Deposit Amount has not previously been
applied by the Company as a credit against any other deposit of cash required to be made by the Company under the Indenture. 

  

 

	1 	 Note: The Cash Deposit Amount shall be reduced by the amount it exceeds the portion of the net proceeds
received or to be received for such Release Property which is allocable on a pro-rata or other reasonable basis to the portion of such Release Property constituting Funded Property. To the extent the
Cash Deposit Amount is reduced pursuant to this instruction, include the amount and reason for such reduction. 

	2 	 Note: The Cash Deposit Amount shall be reduced by the amount of cash or other consideration that has
been delivered to or otherwise deposited with a holder of a Senior Lien securing Senior Lien Obligations in accordance with the provisions of such Senior Lien. To the extent the Cash Deposit Amount is reduced pursuant to this instruction, include
the amount and reason for such reduction. 

  
 S6-1 

 Witness my hand this _____ day of _______, 2___. 

 

	
	[Signature of Authorized Officer]
	
	   

	Name:
	Title:

  
 S6-2 

 FORM OF EXPERT’S CERTIFICATE UNDER SECTION 8.08(c) 

EXPERT’S CERTIFICATE AS TO RELEASE OF PROPERTIES TAKEN BY EMINENT DOMAIN, ETC. 

This Expert’s Certificate Pursuant to Section 8.08(c) (“Certificate”) is being executed and delivered by [NAME OF EXPERT],
as [POSITION OR TITLE OF EXPERT], and by [NAME OF AUTHORIZED OFFICER], as [TITLE OF AUTHORIZED OFFICER] of Pacific Gas and Electric Company (the “Company”), in connection with certain property described below to be released pursuant to
Section 8.08(c) of that certain Indenture of Mortgage, dated as of [    ], 2020 (the “Indenture”), by and between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the
“Trustee”). All capitalized terms used herein, unless otherwise defined herein, shall have the respective meanings assigned to such terms in the Indenture. 

The undersigned hereby certify as to each of the following items in accordance with and as required pursuant to Section 8.08(c) of the
Indenture: 
  

	1.	 The Funded Property to be released from the lien of the Indenture is described as follows (the “Release
Property”): 

 [DESCRIBE FUNDED PROPERTY] 
  

	2.	 The Funded Property Basis of the Release Property is $___________. 

 

	3.	 [The statements or opinions we have expressed herein are based upon examination of and/or investigation into
the matters covered by the Expert’s Certificate or Certificates in which the Release Property has been designated as Funded Property for purposes of the Indenture and other records of the Company relating thereto.] 

 

	4.	 In the judgment of the undersigned, the release of the Release Property will not impair the security under the
Indenture in contravention of the provisions thereof. 

  

	5.	 [NAME OF EXPERT] hereby further certifies as follows: 

 

	 	a.	 I have read Section 8.08(c) of the Indenture and the related definitions of defined terms appearing in
said Section 8.08(c). 

  

	 	b.	 The statements or opinions I have expressed herein are based upon my examination/investigation of [LIST OR
DESCRIBE THE NATURE AND SCOPE OF THE EXAMINATION OR INVESTIGATION UPON WHICH THE STATEMENTS OR OPINIONS ARE BASED]. 

  

	 	c.	 In my opinion, I have made such examination or investigation as is necessary to enable me to express an
informed opinion as to whether or not the Company has complied with the requirements of Section 8.08(c) of the Indenture. 

  

	 	d.	 In my opinion, the Company has complied with the requirements of Section 8.08(c) of the Indenture.

  
 S6-3 

 Witness our hands this _____ day of _______, 2___. 

 

	
	[Signature of Expert]
	
	   

	Name:
	Title:

  

	
	[Signature of Authorized Officer]
	
	   

	Name:
	Title:

  
 S6-4 

 Exhibit A 

Legal Descriptions of Real Property Owned in Fee and Other Interests in Real Property 

[Schedule and legal descriptions of relevant properties to come] 

  
 Exhibit A 

 Exhibit B-1 

Environmental Remediation Sites 
 [Schedule
and legal descriptions of relevant properties to come] 

  
 Exhibit B-1 

 Exhibit B-2 

General Office Property 
 [Schedule and
legal descriptions of relevant properties to come] 

  
 Exhibit B-2 

 Exhibit B-3 

Hydro Property 
 [Schedule and legal
descriptions of relevant properties to come] 

  
 Exhibit B-3 

 Exhibit B-4 

Mitigation Property 
 [Schedule and legal
descriptions of relevant properties to come] 

  
 Exhibit B-4 

 Exhibit B-5 

Surplus Property 
 [Schedule and legal
descriptions of relevant properties to come] 

  
 Exhibit B-5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00309-of-00352.parquet"}]]