Document:

CONNECTONE BANCORP,
INC. 

As Issuer, 

and 

[INSERT NAME OF TRUSTEE] 

As Trustee 

INDENTURE 

Dated as of ___________,
20__ 

Providing for the Issuance
of Debt Securities

TABLE OF CONTENTS

	ARTICLE I DEFINITIONS AND INCORPORATION BY
      REFERENCE	1
		 				
	      
    	Section	101	      
    	Definitions.	1
		Section	102		Compliance
      Certificates and Opinions.	9
		Section	103		Form of Documents
      Delivered to Trustee.	10
		Section	104		Acts of
      Holders.	10
		Section	105		Required Notices
      or Demands.	12
		Section	106		Language of
      Notices.	13
		Section	107		Incorporation by
      Reference of Trust Indenture Act; Conflicts.	13
		Section	108		Effect of
      Headings and Table of Contents.	14
		Section	109		Successors and
      Assigns.	14
		Section	110		Severability.	14
		Section	111		Benefits of
      Indenture.	14
		Section	112		Governing
      Law.	14
		Section	113		Legal
      Holidays.	14
		Section	114		Counterparts;
      Electronic Transmission.	15
		Section	115		Immunity of
      Certain Persons.	15
		Section	116		Waiver of Jury
      Trial.	15
		Section	117		Force
      Majeure.	15
		Section	118		USA Patriot
      Act.	15
		Section	119		No Sinking
      Fund.	15
		Section 
      	120		Rules of
      Construction.	16
		 
	ARTICLE II THE SUBORDINATED NOTES	16
		 				
		Section	201		Forms
      Generally.	16
		Section	202		Definitive
      Subordinated Notes.	17
		Section	203		Global
      Subordinated Notes.	17
		Section	204		Restricted
      Subordinated Notes.	17
		Section	205		Execution and
      Authentication.	18
		Section	206		Registrar and
      Paying Agent.	18
		Section	207		Registration of
      Transfer and Exchange.	19
		Section	208		Exchange
      Offer.	23
		Section	209		Mutilated,
      Destroyed, Lost and Stolen Subordinated Notes.	23
		Section	210		Payment of
      Interest; Rights to Interest Preserved.	24
		Section	211		Persons Deemed
      Owners.	25
		Section	212		Cancellation.	26
		Section	213		Computation of
      Interest.	26
		Section	214		CUSIP
      Numbers.	26
		 
	ARTICLE III SATISFACTION AND DISCHARGE OF
      INDENTURE	27
		 				
		Section	301		Satisfaction and
      Discharge.	27
		Section	302		Defeasance and
      Covenant Defeasance.	28
		Section	303		Application of
      Trust Money.	30
		Section	304		Reinstatement.	31
		Section	305		Effect on
      Subordination Provisions.	31

i 

	ARTICLE IV REMEDIES	32
					 	
	      
    	Section	401	      
    	Events of
      Default; Acceleration.	32
		Section	402		Failure to Make
      Payments.	33
		Section	403		Trustee May File
      Proofs of Claim.	34
		Section	404		Trustee May
      Enforce Claims Without Possession of Subordinated	
					Notes.	34
		Section	405		Application of
      Money Collected.	35
		Section	406		Limitation on
      Suits.	35
		Section	407		Unconditional
      Right of Holders to Payments.	36
		Section	408		Restoration of
      Rights and Remedies.	36
		Section	409		Rights and
      Remedies Cumulative.	36
		Section	410		Delay or Omission
      Not Waiver.	36
		Section	411		Control by
      Holders.	37
		Section	412		Waiver of Past
      Defaults.	37
		Section 
      	413		Undertaking for
      Costs.	37
		 
	ARTICLE V THE TRUSTEE	38
					 	
		Section	501		Duties of
      Trustee.	38
		Section	502		Certain Rights of
      Trustee.	38
		Section	503		Notice of
      Defaults.	40
		Section	504		Not Responsible
      for Recitals or Issuance of Subordinated Notes.	40
		Section	505		May Hold
      Subordinated Notes.	41
	 	Section	506		Money Held in
      Trust.	41
		Section	507		Compensation and
      Reimbursement.	41
		Section	508		Corporate Trustee
      Required; Eligibility.	42
		Section	509		Resignation and
      Removal; Appointment of Successor.	42
		Section	510		Acceptance of
      Appointment by Successor.	44
		Section	511	 	Merger,
      Conversion, Consolidation or Succession to Business.	45
		Section	512		Appointment of
      Authenticating Agent.	45
		Section	513		Preferred
      Collection of Claims against Company.	47
		 
	ARTICLE VI HOLDERS LISTS AND REPORTS BY TRUSTEE
      AND COMPANY	47
					 	
		Section	601		Holder
      Lists.	47
		Section	602		Preservation of
      Information; Communications to Holders.	47
		Section	603		Reports by
      Trustee.	47
		Section	604		Reports by
      Company.	48
		 
	ARTICLE VII SUCCESSORS	49
					 	
		Section	701		Merger,
      Consolidation or Sale of All or Substantially All Assets.	49
		Section	702		Successor Person
      Substituted for Company.	49

ii 

	ARTICLE VIII SUPPLEMENTAL
    INDENTURES	50
					 	
		Section	801		Supplemental
      Indentures without Consent of Holders.	50
	      
    	Section	802	      
    	Supplemental
      Indentures with Consent of Holders.	51
		Section	803		Execution of
      Supplemental Indentures.	52
		Section	804		Effect of
      Supplemental Indentures.	52
		Section	805		Reference in
      Subordinated Notes to Supplemental Indentures.	52
		Section	806		Effect on Senior
      Indebtedness.	52
	 	Section	807		Conformity with
      Trust Indenture Act.	52
		 
	ARTICLE IX COVENANTS	52
	 	
		Section	901		Payment of
      Principal and Interest.	52
		Section	902		Maintenance of
      Office.	53
		Section	903		Money for
      Subordinated Notes Payments to Be Held in Trust.	53
		Section	904		Corporate
      Existence.	55
		Section	905		Maintenance of
      Properties.	55
		Section	906		Waiver of Certain
      Covenants.	55
		Section	907		Company Statement
      as to Compliance.	55
		 
	ARTICLE X REDEMPTION OF
      SECURITIES	56
	 	
		Section	1001		Applicability of
      Article.	56
		Section	1002		Election to
      Redeem; Notice to Trustee.	56
		Section	1003		Selection by
      Trustee of Subordinated Notes to be Redeemed.	56
		Section	1004		Notice of
      Redemption.	57
		Section	1005		Deposit of
      Redemption Price.	58
		Section	1006		Subordinated
      Notes Payable on Redemption Date.	58
		Section	1007		Subordinated
      Notes Redeemed in Part.	59
		 
	ARTICLE XI SUBORDINATION OF
      SECURITIES	59
	 	
		Section	1101		Agreement to
      Subordinate.	59
		Section	1102		Distribution of
      Assets.	59
		Section	1103		Default With
      Respect to Senior Indebtedness.	62
		Section	1104		No
      Impairment.	62
		Section	1105		Effectuation of
      Subordination Provisions.	62
		Section	1106	 	Notice to
      Trustee.	63
		Section	1107		Trustee Knowledge
      of Senior Indebtedness.	63
		Section	1108		Senior
      Indebtedness to Trustee.	64
		Section 
      	1109		Subordination Not
      Applicable to Trustee Compensation.	64

iii 

CROSS-REFERENCE
TABLE 

	Trust Indenture Act Section		Indenture Section
	§310	(a)(1)	      	        	508
		(a)(2)			508
		(a)(5)			508
		(b)			508,
      509
	§311	(a)			505
		(b)			505
	§312	(a)			601
		(b)			602
		(c)			602
	§313	(a)			603
		(b)(2)			603
		(c)			603
		(d)			603
	§314	(a)			604
		(a)(4)			907
		(c)(1)			102
		(c)(2)			102
		(e)			102
	§315	(a)	 		501, 502
		(b)			503
		(c)			501
		(d)			501, 502
		(e)			413
	§316	(a)
      (last sentence)			101
		(a)(1)(A)			402, 411
		(a)(1)(B)			411, 412
		(b)			407
		(c)			104
	§317  	(a)(1)			402
		(a)(2)			403
		(b)			903
	§318	(a)			107
		(b)			107
		(c)			107

Note: This Cross-Reference
table will not, for any purpose, be deemed part of this Indenture. 

iv

INDENTURE 

This INDENTURE dated as of
_____, 201__ is between ConnectOne Bancorp, Inc., a New Jersey corporation (the
“Company”), and [●], a [●], as trustee (the
“Trustee”).

RECITALS

WHEREAS, The Company has
duly authorized the execution and delivery of this Indenture to provide for the
issuance of its unsecured debentures, notes, bonds, and other evidences of
indebtedness, to be issued in one or more fully registered series. 

NOW, THEREFORE, in order to
declare the terms and conditions upon which the Subordinated Notes are
authenticated, issued and delivered, and in consideration of the premises, and
of the purchase and acceptance of the Subordinated Notes by the Holders thereof,
the Company and the Trustee agree as follows for the benefit of each other and
for the benefit of the respective Holders from time to time of the Subordinated
Notes. 

ARTICLE
I 
DEFINITIONS AND INCORPORATION BY REFERENCE

Section 101 Definitions. 

Except as otherwise
expressly provided in this Indenture or unless the context otherwise requires,
the terms defined in this Section for all purposes of this Indenture, any
Company Order, any Board Resolution, and any indenture supplemental hereto will
have the respective meanings specified in this Section. 

“Act,” when used with
respect to any Holders, is defined in Section 104. 

“Additional Interest” has
the meaning set forth in the Registration Rights Agreement. 

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

“Applicable Procedures”
means, with respect to any transfer or exchange of or for beneficial interests
in any Global Subordinated Note, the rules and procedures of the Depositary that
apply to such transfer or exchange. 

“Authenticating Agent”
means any Person authorized by the Trustee in accordance with Section 512 to act
on behalf of the Trustee to authenticate Subordinated Notes. 

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

“Authorized Officer” means
each of the Chairman of the Board, the Chief Executive Officer, the President,
any Senior Executive Vice President and the Chief Financial Officer of the
Company. 

“Bankruptcy Laws” mean
Title 11, United States Code (11 U.S.C. §§101 et seq.) or any similar federal or
state law for the relief of debtors. 

“Board of Directors” means,
as to any Person, the board of directors, or similar governing body, of such
Person or any duly authorized committee thereof. 

“Board Resolution” means
one or more resolutions, certified by the Secretary or an Assistant Secretary of
the Company to have been duly adopted by the Board of Directors and to be in
full force and effect on the date of such certification, delivered to the
Trustee. 

“Business Day” means any
day other than a Saturday, Sunday or other day on which banking institutions in
the City of [●] are authorized or
obligated by law, regulation or executive order to close. 

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

“Common Stock” means any
and all shares of the common stock, no par value per share, of the Company,
whether outstanding on the date of this Indenture or issued thereafter, and
includes, without limitation all series and classes of such common stock.

“Company” is defined in the
preamble to this Indenture, 

“Company Request” and
“Company Order” mean, respectively, a written request or order, as the ease may
be, signed on behalf of the Company by an Authorized Officer and delivered to
the Trustee. 

“Corporate Trust Office”
means the address of the Trustee specified in Section 105 or such other address
as the Trustee may designate from time to time by notice to the Holders and the
Company, or the designated address of any successor Trustee (or such other
address as such successor Trustee may designate from time to time by notice to
the Holders and the Company). 

“Covenant Defeasance” is
defined in Section 302(3). 

“Defaulted Interest” is
defined in Section 210. 

2 

“Definitive Subordinated
Notes” means, individually and collectively, each Restricted Definitive
Subordinated Note and each Unrestricted Definitive Subordinated Note,
substantially in the form of Exhibit A-l hereto, issued
under this Indenture. 

“Depositary” means, with
respect to any Subordinated Note issuable or issued in whole or in part in
global form, the Person designated as depositary by the Company in accordance
with this Indenture, and any and all successors thereto appointed as Depositary
under this Indenture. 

“Dollars” or “$” means a
dollar or other equivalent unit of legal tender for payment of public or private
debts in the United States. 

“Event of Default” is
defined in Section 401. 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended, or any successor statute thereto.

“Exchange Notes” means the
Subordinated Notes issued in the Exchange Offer in accordance with Section 208.

“Exchange Offer” has the
meaning set forth in the Registration Rights Agreement. 

“Exchange Offer
Registration Statement” has the meaning set forth in the Registration Rights
Agreement. 

“Federal Reserve Board”
means the Board of Governors of the Federal Reserve System or any successor
regulatory authority with jurisdiction over bank holding companies. 

“Fixed Interest Payment Date” means [●] and [●] of each year, but excluding [●] beginning [●].

“Floating Interest Payment Date” means [●], [●], [●] and [●] of each year to Stated Maturity,
beginning [●]. 

“GAAP” means generally accepted accounting principles in the United States set
forth in the opinions and pronouncements of the Accounting Principles Board of
the American Institute of Certified Public Accountants, the statements and
pronouncements of the Financial Accounting Standards Board and such other
statements by such other entities (including the Commission) as have been
accepted by a significant segment of the accounting profession, which are
applicable at the date of this Indenture. 

“Global Subordinated Notes” means, individually and collectively, each
Restricted Global Subordinated Note and each Unrestricted Global Subordinated
Note, substantially in the form of Exhibit A-2 hereto, issued
under this Indenture. 

“Government Obligations” means securities which are direct obligations of
the United States in each case where the payment or payments thereunder are
supported by the full faith and credit of the United States. 

3 

“Holder” means the Person in whose name the Subordinated Note is registered in
the Subordinated Note Register. 

“Indenture” means this Indenture, as amended and
supplemented from time to time in accordance with its terms. 

“Initial Notes” means the $[●] in aggregate
principal amount of the Company’s [●]% Subordinated Notes
due 20___ issued under this Indenture on the date hereof. 

“Interest Payment Date” means [[●] and [●] of each year to
Stated Maturity, beginning [●],
20[●].] or
[either a Fixed Interest Payment Date or a Floating
Interest Payment Date, as applicable.] 

“Interest Period” means each three-month period beginning on a
scheduled Interest Payment Date.

“Investment Company Event” means the receipt by the Company of a legal
opinion from counsel experienced in such matters to the effect that there is
more than an insubstantial risk that the Company is or, within 90 days of the
date of such legal opinion will be, considered an “investment company” that is
required to be registered under the Investment Company Act of 1940, as amended.

“Legal Defeasance” is defined in Section 302(2). 

“Letter of Transmittal” means the letter of transmittal to be prepared
by the Company and sent to all Holders for use by such Holders in connection
with an Exchange Offer. 

“LIBOR” means the rate as published by Bloomberg (or other commercially
available source providing quotations of such rate as selected by the Paying
Agent from time to time) at approximately 11:00 a.m., London time, two Business
Days prior to the commencement of an Interest Period, as the rate for Dollar
deposits in the London interbank market with a three-month maturity. If such
rate is not available at such time from such source for any reason, then the
rate for that Interest Period will be determined by such alternate method as
reasonably selected by the Company. 

“Maturity” means the date on which the principal of a
Subordinated Note or an installment of principal becomes due and payable as
provided in or under this Indenture or such Subordinated Note, whether at the
Stated Maturity or by an acceleration of the maturity of such Subordinated Note
in accordance with the terms of such Subordinated Note, upon redemption at the
option of the Company, upon repurchase or repayment or otherwise, and includes a
Redemption Date for such Subordinated Note and a date fixed for the repurchase
or repayment of such Subordinated Note at the option of the Holder. 

“Officer” means, with respect to any Person, the chairman of the board, vice
chairman of the board, the chief executive officer, the president, the chief
operating officer, the chief financial officer, the treasurer, any assistant
treasurer, the controller, the secretary or any Vice President of such Person.

“Officers’ Certificate” means a certificate signed on behalf of the
Company by two Officers of the Company, one of whom must be the principal
executive officer, the principal financial officer or the principal accounting
officer of the Company, that complies with the requirements of Section 102 and
is delivered to the Trustee.

4 

“Opinion of Counsel” means a written opinion from legal counsel who
is reasonably acceptable to the Trustee, which opinion meets the requirements of
Section 102. The counsel may be an employee of or counsel to the Company or any
Subsidiary of the Company. 

“Outstanding,” when used with respect to any Subordinated
Notes, means, as of the date of determination, all such Subordinated Notes
theretofore authenticated and delivered under this Indenture, except (1) any
such Subordinated Note theretofore cancelled by the Trustee or the Registrar or
delivered to the Trustee or the Registrar for cancellation; (2) any such
Subordinated Note for whose payment at the Maturity thereof money in the
necessary amount has been theretofore deposited in accordance with this
Indenture (other than in accordance with Section 302) with the Trustee or any
Paying Agent (other than the Company) in trust or set aside and segregated in
trust by the Company (if the Company will act as its own Paying Agent) for the
Holders of such Subordinated Notes, provided that, if such Subordinated Notes
are to be redeemed, notice of such redemption has been duly given in accordance
with this Indenture or provision therefor satisfactory to the Trustee has been
made; (3) any such Subordinated Note with respect to which the Company has
effected Legal Defeasance or Covenant Defeasance in accordance with Section 302,
except to the extent provided is Section 302; and (4) any such Subordinated Note
that has been paid in accordance with Section 209 or in exchange for or in lieu
of which other Subordinated Notes have been authenticated and delivered under
this Indenture, unless there will have been presented to the Trustee proof
satisfactory to the Trustee that such Subordinated Note is held by a bona fide
purchaser in whose hands such Subordinated Note is a valid obligation of the
Company; provided, however, in all cases, that in determining whether the
Holders of the requisite principal amount of Outstanding Subordinated Notes have
given any request, demand, authorization, direction, notice, consent or waiver
hereunder. Subordinated Notes owned by the Company or any Affiliate of the
Company will be disregarded and deemed not to be Outstanding, except that, in
determining whether the Trustee will be protected in making any such
determination or relying upon any such request, demand, authorization,
direction, notice, consent or waiver, only Subordinated Notes that a Responsible
Officer of the Trustee actually knows to be so owned will be so disregarded.
Subordinated Notes so owned that will have been pledged in good faith may be
regarded as Outstanding if the pledgee establishes to the satisfaction of the
Trustee the pledgee’s right so to act with respect to such Subordinated Notes
and that the pledgee is not the Company or an Affiliate of the Company.

“Participating Broker-Dealer” has the meaning set forth in the Registration
Rights Agreement. 

“Paying Agent” is defined in Section 206. 

“Person” mean any individual, corporation, partnership, association, limited
liability company, other company, statutory trust, business trust, joint
venture, joint-stock company, trust, unincorporated organization or government
or any agency or political subdivision thereof. 

5 

“Place of Payment,” with respect to any Subordinated Note, means
the place or places where the principal of, or interest on, such Subordinated
Note are payable as provided in or under this Indenture or such Subordinated
Note. 

“Private Placement Legend” means the legend set forth in Section 204 of
this Indenture to be placed on all Subordinated Notes issued under this
Indenture, except where otherwise permitted by the provisions of this Indenture.

“Purchase Agreement” means the Subordinated Note Purchase Agreement
concerning the Subordinated Notes, dated as of [●], 201___, by and among the Company and the purchasers identified therein.

“Redemption Date” with respect to any Subordinated Note or portion
thereof to be redeemed, means the date fixed for such redemption by or under
this Indenture or such Subordinated Note. 

“Redemption Price” with respect to any Subordinated Note or portion
thereof to be redeemed, means the price at which it is to be redeemed as
determined by or under this Indenture or such Subordinated Note. 

“Registrar” is defined in Section 206. 

“Registration Rights Agreement”
means the Registration Rights
Agreement in the form attached as Exhibit B to the Purchase
Agreement with respect to the Subordinated Notes, dated as of the date of this
Indenture, by and among the Company and the purchasers of the Initial Notes
identified therein. 

“Regular Record Date,” with respect to any Interest Payment date,
means the first calendar day of the month in which the Interest Payment Date
occurs, without regard to whether the Regular Record Date is a Business Day.

“Responsible Officer” means, when used with respect to the Trustee,
any officer within the corporate trust department of the Trustee, including any
vice president, assistant vice president, assistant secretary, assistant
treasurer, trust officer or any other officer of the Trustee who customarily
performs functions similar to those performed by the Persons who at the time
will be such officers, respectively, or to whom any corporate trust matter is
referred because of such Person’s knowledge of and familiarity with the
particular subject and who will have direct responsibility for the
administration of this Indenture. 

“Restricted Definitive Subordinated
Note” means a Definitive
Subordinated Note bearing, or that is required to bear, the Private Placement
Legend. 

“Restricted Global Subordinated
Note” means a Global
Subordinated Note bearing, or that is required to bear, the Private Placement
Legend, 

“Restricted Subordinated Note” means a Restricted Global Subordinated Note or a
Restricted Definitive Subordinated Note. 

6 

“Rule 144” means Rule 144 promulgated under the Securities
Act. 

“Rule 144A” means Rule 144A promulgated under the Securities
Act. 

“Securities Act” means the Securities Act of 1933, as amended, or
any successor statute thereto. 

“Senior Indebtedness” means the principal of, and premium, if any, and
interest, including interest accruing after the commencement of any bankruptcy
proceeding relating to the Company, on, or substantially similar payments the
Company makes in respect of the following categories of debt, whether that debt
was outstanding on the date of execution of this Indenture or thereafter
incurred, created or assumed: (1) indebtedness of the Company evidenced by
notes, debentures, or bonds or other securities issued under the provisions of
any indenture, fiscal agency agreement, debenture or note purchase agreement or
other agreement, including any senior debt securities that may be offered; (2)
indebtedness of the Company for money borrowed or represented by purchase money
obligations, as defined below; (3) the Company’s obligations as lessee under
leases of property whether made as part of a sale and leaseback transaction to
which it is a party or otherwise; (4) indebtedness, obligations and liabilities
of others in respect of which the Company is liable contingently or otherwise to
pay or advance money or property or as guarantor, endorser or otherwise or which
it has agreed to purchase or otherwise acquire and indebtedness of partnerships
and joint ventures that is included in the Company’s consolidated financial
statements; (5) reimbursement and other obligations relating to letters of
credit, bankers’ acceptances and similar obligations; (6) obligations under
various hedging arrangements and agreements, including interest rate and
currency hedging agreements and swap and non-swap forward agreements; (7) all of
the Company’s obligations issued or assumed as the deferred purchase price of
property or services, but excluding trade accounts payable and accrued
liabilities arising in the ordinary course of business; and (8) deferrals,
renewals or extensions of any of the indebtedness or obligations described in
clauses (1) through (7) above. 

However, clauses (1)
through (8) above exclude: (x) any indebtedness, obligation or liability
referred to in clauses (1) through (8) above as to which, in the instrument
creating or evidencing that indebtedness, obligation or liability, it is
expressly provided that the indebtedness, obligation or liability is not senior
in right of payment, is junior in right of payment to, or ranks equally in right
of payment with, other specified types of indebtedness, obligations and
liabilities of the Company, which other specified types of indebtedness,
obligations and liabilities of the Company include the Subordinated Notes; (y)
any indebtedness, obligation or liability that is subordinated to indebtedness,
obligations or liabilities of the Company to substantially the same extent as or
to a greater extent than the Subordinated Notes are subordinated; and (z) the
Subordinated Notes and, unless expressly provided in the terms thereof, any
indebtedness of the Company to its Subsidiaries. 

As used above, the term
“purchase money obligations” means indebtedness, obligations evidenced by a
note, debenture, bond or other instrument, whether or not secured by a lien or
other security interest, issued to evidence the obligation to pay or a guarantee
of the payment of, and any deferred obligation for the payment of, the purchase
price of property but excluding indebtedness or obligations for which recourse
is limited to the property purchased, issued or assumed as all or a part of the
consideration for the acquisition of property or services, whether by purchase,
merger, consolidation or otherwise, but does not include any trade accounts
payable.

7 

“Significant Subsidiary” means any Subsidiary of the Company that is a
“significant subsidiary” as defined in Rule 1-02 of Regulation S-X promulgated
by the Commission (as such rule is in effect on the date of this Indenture).

“Special Record Date” for the payment of any Defaulted Interest on any
Subordinated Note means a date fixed in accordance with Section 210. 

“Stated Maturity” means [●] [●], 20__. 

“Subordinated Note” or “Subordinated Notes”
means the Initial Notes and the Exchange Notes and, more particularly, any
Subordinated Note authenticated and delivered under this Indenture, including
those Subordinated Notes issued or authenticated upon transfer, replacement or
exchange. 

“Subordinated Note Register” is defined in Section 206. 

“Subordination Provisions” means the provisions contained in Article XI or
any provisions with respect to subordination contained in the Subordinated
Notes. 

“Subsidiary” means a corporation, a partnership, business or
statutory trust or a limited liability company, a majority of the outstanding
voting equity securities or a majority of the voting membership or partnership
interests, as the case may be, of which is owned or controlled, directly or
indirectly, by the Company or by one or more other Subsidiaries of the Company.
For the purposes of this definition, “voting equity securities” means securities
having voting power for the election of directors, managers, managing partners
or trustees, as the case may be, whether at all times or only so Jong as no
senior class of stock has voting power by reason of any contingency. 

“Tax Event” means the receipt by the Company of a legal
opinion from counsel experienced in such matters to the effect that there is
more than an insubstantial risk that interest paid by the Company on the
Subordinated Notes is not, or, within 90 days of the date of such legal opinion,
will not be, deductible by the Company, in whole or in part, for United States
federal income tax purposes. 

“Tier 2 Capital” means Tier 2 Capital for purposes of capital
adequacy guidelines of the Federal Reserve Board, as then in effect and
applicable to the Company.

“Tier 2 Capital Event” means the receipt by the Company of a legal
opinion from counsel experienced in such matters to the effect that there is
more than an insubstantial risk that the Subordinated Notes do not constitute,
or within 90 days of the date of such legal opinion will not constitute, Tier 2
Capital (or its then equivalent if the Company were subject to such capital
requirement).

“Trust Indenture Act” means the Trust Indenture Act of 1939, as
amended. 

8 

“Trustee” means [●], as trustee, until a
successor replaces it in accordance with the provisions of this Indenture and
thereafter means the successor serving hereunder. 

“United States,” means the United States of America (including
the states thereof and the District of Columbia), its territories, its
possessions and other areas subject to its jurisdiction. 

“Unrestricted Definitive Subordinated
Note” means a Definitive
Subordinated Note that does not bear, and is not required to bear, the Private
Placement Legend. 

“Unrestricted Global Subordinated
Note” means a Global
Subordinated Note that does not bear, and is not required to bear, the Private
Placement Legend. 

Section 102 Compliance
Certificates and Opinions.

Except as otherwise
expressly provided in or under 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 will furnish to the Trustee an Officers’ Certificate in
form and substance reasonably satisfactory to the Trustee stating that, in the
opinion of the signers, all conditions precedent (including covenants compliance
with which constitutes a condition precedent), if any, provided for in this
Indenture relating to the proposed action have been complied with and an Opinion
of Counsel in form and substance reasonably satisfactory to the Trustee stating
that, in the opinion of such counsel, all such conditions precedent (including
covenants compliance with which constitutes a condition precedent), if any, have
been complied with, except that in the case of any such application or request
as to which the furnishing of such documents or any of them is specifically
required by any provision of this Indenture relating to such particular
application or request, no additional certificate or opinion need be furnished.

Each certificate or opinion
with respect to which compliance with a condition provided for in this Indenture
(other than an Officers’ Certificate provided under Section 907) must comply
with the provisions of Section 314(e) of the Trust Indenture Act and must
include: 

(1) a statement that the person
making such certificate or opinion has read such covenant or condition;

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

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

(4) a statement as to whether or
not, in the opinion of such person, such condition has been satisfied.

9 

Section 103 Form of
Documents Delivered to Trustee.

In any case where several
matters are required to be certified by, or covered by an opinion of, any
specified Person, it is not necessary that all such matters be certified by, or
covered by the opinion of, only one such Person, or that they be so certified or
covered by only one document, but one such Person may certify or give an opinion
with respect to some matters and one or more other such Persons as to other
matters, and any such Person may certify or give an opinion as to such matters
in one or several documents. 

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

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

Section 104 Acts of
Holders. 

(1) Any request, demand,
authorization, direction, notice, consent, waiver or other action provided by or
under 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. Except as
herein otherwise expressly provided, such action will 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. Proof of execution of any such instrument or of
a writing appointing any such agent, or of the holding by any Person of a
Subordinated Note, will be sufficient for any purpose of this Indenture and
(subject to Section 501) conclusive in favor of the Trustee and the Company and
any agent of the Trustee or the Company, if made in the manner provided in this
Section. 

(2) The fact and date of the
execution by any Person of any such instrument or writing may be proved in any
reasonable manner that the Trustee deems sufficient and in accordance with such
reasonable rules as the Trustee may determine, and the Trustee may in any
instance require further proof with respect to any of the matters referred to in
this Section. 

(3) The ownership, principal
amount and serial numbers of Subordinated Notes held by any Person, and the date
of the commencement and the date of the termination of holding the same, will be
proved by the Subordinated Note Register. 

10 

(4) The Company may, in the
circumstances permitted by the Trust Indenture Act, set a record date for
purposes of determining the identity of Holders entitled to give any request,
demand, authorization, direction, notice, consent, waiver or take any other act
authorized or permitted to be given or taken by Holders. Unless otherwise
specified, if not set by the Company prior to the first solicitation of a Holder
made by any Person in respect of any such action, any such record date will be
the later of 30 days prior to the first solicitation of such consent or the date
of the most recent list of Holders furnished to the Trustee prior to such
solicitation. If a record date is fixed, the Holders on such record date, and
only such Persons, will be entitled to make, give or take such request, demand,
authorization, direction, notice, consent, waiver or other action, whether or
not such Holders remain Holders after such record date. No such request, demand,
authorization, direction, notice, consent, waiver or other action will be valid
or effective if made, given or taken more than 90 days after such record date.

(5) Any effective request,
demand, authorization, direction, notice, consent, waiver or other Act by the
Holder of any Subordinated Note will bind every future Holder of the same
Subordinated Note and the Holder of every Subordinated Note issued upon the
registration of transfer thereof or in exchange therefor or in lieu thereof in
respect of anything done or suffered to be done by the Trustee, any Registrar,
any Paying Agent or the Company in reliance thereon, whether or not notation of
such Act is made upon such Subordinated Note. 

(6) Without limiting the
foregoing, a Holder entitled to take any action hereunder with regard to any
particular Note may do so with regard to all or any part of the principal amount
of such Note or by one or more duly appointed agents, each of which may do so in
accordance with such appointment with regard to all or any part of such
principal amount. Any notice given or action taken by a Holder or its agents
with regard to different parts of such principal amount in accordance with this
paragraph will have the same effect as if given or taken by separate Holders of
each such different part. 

(7) Without limiting the
generality of this Section 104, a Holder, including a Depositary that is a
Holder of a Global Subordinated Note, may make, give or take, by a proxy or
proxies, duly appointed in writing, any request, demand, authorization,
direction, notice, consent, waiver or other Act provided in or under this
Indenture or the Subordinated Notes to be made, given or taken by Holders, and a
Depositary that is a Holder of a Global Subordinated Note may provide its proxy
or proxies to the beneficial owners of interests in any such Global Subordinated
Note through such Depositary’s Applicable Procedures. The Company may fix a
record date for the purpose of determining the Persons who are beneficial owners
of interests in any Global Subordinated Note entitled under the Applicable
Procedures of such Depositary to make, give or take, by a proxy or proxies duly
appointed in writing, any request, demand, authorization, direction, notice,
consent, waiver or other action provided in this Indenture to be made, given or
taken by Holders. If such a record date is fixed, the Holders on such record
date or their duly appointed proxy or proxies, and only such Persons, will be
entitled to make, give or take such request, demand, authorization, direction,
notice, consent, waiver or other action, whether or not such Holders remain
Holders after such record date. No such request, demand, authorization,
direction, notice, consent, waiver or other action will be valid or effective if
made, given or taken more than 90 days after such record date. 

11 

Promptly upon any record
date being set in accordance with this Section 104, the Company, at its own
expense, will cause notice of the record date, the proposed action by Holders
and the expiration date to be given to the Trustee in writing and the Holders in
the manner set forth in Section 105. 

Section 105 Required
Notices or Demands. 

Any notice or communication
by the Company or the Trustee to the other is duly given if in writing and
delivered in Person or mailed by registered or certified mail (return receipt
requested), facsimile or overnight air courier guaranteeing next day delivery,
to the other’s address: 

If to the Company;

ConnectOne Bancorp, Inc.

301 Sylvan Avenue 
Englewood Cliffs, New Jersey 07362 
Attention: 

Facsimile: [●] 

With a copy (which shall
not constitute notice to):

Windels Marx 
120 Albany Street Plaza

Sixth Floor 
New Brunswick, New Jersey 08901 
Attention: Robert A. Schwartz, Esq. 
Facsimile: (732) 846-8877 

If to the Trustee:

[●], as Trustee

[●] 
[●] 
Attention: [●] 
Facsimile:
[●] 

The Company or the Trustee
by notice to the other may designate additional or different addresses for
subsequent notices or communications. 

All notices and
communications will be deemed to have been duly given: at the time delivered by
hand, if personally delivered; five Business Days after being deposited in the
mail, postage prepaid, if mailed; on the first Business Day after being sent, if
sent by facsimile and the sender receives confirmation of successful
transmission; and the next Business Day after timely delivery to the courier, if
sent by overnight air courier guaranteeing next day delivery. 

Any notice required or
permitted to be given to a Holder under the provisions of this Indenture will be
deemed to be properly mailed by being deposited postage prepaid in a post office
letter box in the United States addressed to such Holder at the address of such
Holder as shown on the Subordinated Note Register. Any report in accordance with
Section 313 of the Trust Indenture Act will be transmitted in compliance with
subsection (c) therein. If the Company mails a notice or communication to
Holders, the Company will mail a copy to the Trustee at the same
time.

12 

In any case where notice to
Holders of Subordinated Notes is given by mail, neither the failure to mail such
notice, nor any defect in any notice so mailed, to any particular Holder of a
Subordinated Note will affect the sufficiency of such notice with respect to
other Holders of Subordinated Notes. Any notice that is mailed in the manner
herein provided will be conclusively presumed to have been duly given or
provided. In the case by reason of the suspension of regular mail service or by
reason of any other cause it will be impracticable to give such notice by mail,
then such notification as will be made with the approval of the Trustee will
constitute a sufficient notification for every purpose hereunder. 

Where this Indenture
provides for notice in any manner, such notice may be waived in writing by the
Person entitled to receive such notice, either before or after the event, and
such waiver will be the equivalent of such notice. Waivers of notice by Holders
of Subordinated Notes will be filed with the Trustee, but such filing will not
be a condition precedent to the validity of any action taken in reliance upon
such waiver. 

Notwithstanding any other
provision herein, where this Indenture provides for notice to any Holder of a
Global Subordinated Note, or of an interest therein, such notice will be
sufficiently given if given to the Depositary for such Global Subordinated Note
(or its designee) according to the applicable procedures of such Depositary
prescribed for giving such notice. 

Section 106 Language of
Notices. 

Any request, demand,
authorization, direction, notice, consent or waiver or other Act required or
permitted under this Indenture will be in the English language, except that, if
the Company so elects, any published notice may be in an official language of
the country of publication. 

Section 107 Incorporation
by Reference of Trust Indenture Act; Conflicts. 

Whenever this Indenture
refers to a provision of the Trust Indenture Act, the provision is incorporated
by reference in and made a part of this Indenture. The Trust Indenture Act term
“obligor” used in this Indenture means the Company and any
successor obligor upon the Subordinated Notes. 

All other terms used in
this Indenture that are defined by the Trust Indenture Act, defined by Trust
Indenture Act reference to another statute or defined by Commission rule under
the Trust Indenture Act have the meanings so assigned to them as of the date of
this Indenture. If and to the extent that any provision of this Indenture
limits, qualifies or conflicts with another provision included in this Indenture
that is required to be included in this Indenture by any of Sections 310 to 317,
inclusive, of the Trust Indenture Act, such required provision will control If
any provision of this Indenture limits, qualifies or conflicts with the duties
imposed by Section 318(c) of the Trust Indenture Act, the duties imposed by
Section 318(c) of the Trust Indenture Act will control. If any provision of this
Indenture modifies or excludes any provision of the Trust Indenture Act that may
be so modified or excluded, the provisions of the Trust Indenture Act will be
deemed to apply to this Indenture as so modified or will be excluded, as the
case may be.

13 

Section 108 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 will not affect the construction of this Indenture. 

Section 109 Successors and
Assigns. 

All the covenants,
stipulations, promises and agreements in this Indenture by or on behalf of the
Company or the Trustee will bind its respective successors and permitted
assigns, whether so expressed or not. 

Section 110 Severability. 

In case any provision in
this Indenture or any Subordinated Note will be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions will not, to the fullest extent permitted by law, in any way be
affected or impaired thereby. 

Section 111 Benefits of
Indenture. 

Nothing in this Indenture
or any Subordinated Note, express or implied, will give to any Person, other
than the parties hereto, any Registrar, any Paying Agent and their respective
successors hereunder and the Holders of Subordinated Notes, and the holders of
Senior Indebtedness, any benefit or any legal or equitable right, remedy or
claim under this Indenture. 

Section 112 Governing
Law. 

This Indenture and the
Subordinated Notes will be governed by and construed in accordance with the laws
of the State of [●] applicable to
agreements made or instruments entered into and, in each case, performed in said
State (without reference to principles of conflicts of law). 

Section 113 Legal
Holidays. 

Unless otherwise specified
in or under this Indenture or any Subordinated Notes, in any case where any
Interest Payment Date, Stated Maturity or Maturity of, or any other day on which
a payment is due with respect to, any Subordinated Note will be a day that is
not a Business Day at any Place of Payment, then (notwithstanding any other
provision of this Indenture or any Subordinated Note other than a provision in
any Subordinated Note or in the Board Resolution, Officers’ Certificate or
supplemental indenture establishing the terms of any Subordinated Note that
specifically states that such provision will apply in lieu hereof) payment need
not be made at such Place of Payment on such date, but such payment may be made
on the next succeeding day that is a Business Day at such Place of Payment with
the same force and effect as if made on the Interest Payment Date, at the Stated
Maturity or Maturity or on any such other payment date, as the case may be, and
no interest will accrue on the amount payable on such date or at such time for
the period from and after such Interest Payment Date, Stated Maturity, Maturity
or other payment date, as the case may be, to the next succeeding Business Day,

14 

Section 114 Counterparts;
Electronic Transmission.

This Indenture may be
executed in several counterparts, each of which will be an original and all of
which will constitute but one and the same instrument. Any facsimile or
electronically transmitted copies hereof or signature hereon will, for all
purposes, be deemed originals. 

Section 115 Immunity of
Certain Persons. 

No recourse under or upon
any obligation, covenant or agreement contained in this Indenture, or in any
Subordinated Note, or because of any indebtedness evidenced thereby, will be had
against any past, present or future shareholder, employee, officer or director,
as such, of the Company or of any predecessor or successor, either directly or
through the Company or any predecessor or successor, under any rule of law,
statute or constitutional provision or by the enforcement of any assessment or
by any legal or equitable proceeding or otherwise, all such liability being
expressly waived and released by the acceptance of the Subordinated Notes by the
Holders and as part of the consideration for the issue of the Subordinated
Notes. 

Section 116 Waiver of Jury
Trial. 

EACH PARTY HERETO
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND
ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY
ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SUBORDINATED NOTES OR THE
TRANSACTIONS CONTEMPLATED HEREBY. 

Section 117 Force
Majeure. 

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

Section 118 USA Patriot
Act. 

The Trustee hereby notifies
the Company that in accordance with the requirements of the USA Patriot Act, it
is required to obtain, verify and record information that identifies the
Company, which information includes the name and address of the Company and
other information that will allow the Trustee to identify the Company in
accordance with the USA Patriot Act. 

Section 119 No Sinking
Fund. 

The Subordinated Notes are
not entitled to the benefit of any sinking fund. 

15 

Section 120 Rules of
Construction. 

Unless the context
otherwise requires: 

(1) a term has the meaning
assigned to it; 

(2) an accounting term not
otherwise defined has the meaning assigned to it in accordance with GAAP;

(3) “or” is not exclusive;

(4) words in the singular include
the plural, and in the plural include the singular; 

(5) “including” means including
without limitation; 

(6) “will” will be
interpreted to express a command; 

(7) provisions apply to successive events and transactions; 

(8) references to sections of, or
rules under, the Securities Act will be deemed to include substitute,
replacement or successor sections or rules adopted by the Commission from time
to time; 

(9) unless the context otherwise
requires, any reference to an “Article,” “Section” or “clause” refers to an
Article, Section or clause, as the case may be, of this Indenture; and

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

ARTICLE
II 
THE SUBORDINATED NOTES 

Section 201 Forms
Generally. 

The Subordinated Notes and
the Trustee’s certificate of authentication will be substantially in the form of
Exhibit A-l and Exhibit A-2, as
applicable, which are a part of this Indenture. The Subordinated Notes may have
notations, legends or endorsements required by law, stock exchange rule or usage
(provided that any such notation, legend or endorsement is in a form acceptable
to the Company). The Company will provide any such notations, legends or
endorsements to the Trustee in writing. Each Subordinated Note will be dated the
date of its authentication. The terms and provisions contained in the
Subordinated Notes will constitute, and are hereby expressly made a part of this
Indenture and the Company and the Trustee, by their execution and delivery of
this Indenture, agree to such terms and provisions and to be bound thereby.
However, to the extent any provision of any Subordinated Note irreconcilably
conflicts with the express provisions of this Indenture, the provisions of this
Indenture will govern and be controlling. 

16 

Section 202 Definitive
Subordinated Notes. 

The Initial Notes will be
issued initially in the form of one or more Definitive Subordinated Notes. The
Exchange Notes will also be issued initially in the form of one or more
Definitive Subordinated Notes, unless, before the issuance of such Exchange
Notes, the Company has determined that the Subordinated Notes may be represented
by Global Subordinated Notes and has so notified the Trustee, in which event the
Exchange Notes will be issued in the form of one or more Global Subordinated
Notes. Except as provided in Section 207, Holders of Definitive Subordinated
Notes will not be entitled to transfer Definitive Subordinated Notes in exchange
for beneficial interests in Global Subordinated Notes, and owners of beneficial
interests in Global Subordinated Notes will not be entitled to receive physical
delivery of Definitive Subordinated Notes. 

Section 203 Global
Subordinated Notes. 

Each Global Subordinated
Note issued under this Indenture will be deposited with the Trustee at its
Corporate Trust Office, as custodian for the Depositary, and registered in the
name of the Depositary or the nominee thereof, duly executed by the Company and
authenticated by the Trustee as hereinafter provided. The aggregate principal
amount of any Global Subordinated Note may from time to time be increased or
decreased by adjustments made on the records of the Trustee and the Depositary
as hereinafter provided. Any adjustment of the aggregate principal amount of a
Global Subordinated Note to reflect the amount of any increase or decrease in
the amount of outstanding Subordinated Notes represented thereby will be made by
the Trustee in accordance with instructions given by the Holder thereof as
required by Section 207 hereof and will be made on the records of the Trustee
and the Depositary. 

Section 204 Restricted
Subordinated Notes. 

Each Restricted
Subordinated Note and Global Restricted Note will bear a Private Placement
Legend in substantially the following form: 

THE SECURITIES EVIDENCED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
(THE “SECURITIES
ACT”) OR UNDER ANY
APPLICABLE STATE SECURITIES LAW, THESE SECURITIES MAY NOT BE OFFERED FOR SALE,
SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OR (B) AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS OR BLUE SKY LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL
REASONABLY SATISFACTORY TO THE COMPANY, IF REQUESTED, OR (II) UNLESS SOLD IN
ACCORDANCE WITH RULE 144 UNDER SAID ACT.” 

The Private Placement
Legend set forth above will be removed and a new Subordinated Note of like tenor
and principal amount without such Private Placement Legend will be executed by
the Company, and upon written request of the Company (together with an Officers’
Certificate and an Opinion of Counsel) given at least three Business Days prior
to the proposed authentication date, the Trustee will authenticate and deliver
such new Subordinated Note to the respective Holder, if legal counsel to the
Holder or owner of beneficial interests requesting the removal of such Private
Placement Legend deliver to
the Trustee, any Registrar and Paying Agent (if a different Person than the
Trustee) and the Company an opinion of counsel in compliance with this Indenture
and additionally opining that the Subordinated Note is eligible for immediate
resale, without any remaining holding period, under Rule 144 without regard to
the requirement for the Company to be in compliance with the current public
information required under Rule 144 as to such securities. 

17 

Section 205 Execution and
Authentication. 

Subordinated Notes will be
executed on behalf of the Company by any Authorized Officer and may (but need
not) have the Company’s corporate seal or a facsimile thereof reproduced
thereon. The signature of an Authorized Officer on the Subordinated Notes may be
manual or facsimile. Subordinated Notes bearing the manual or facsimile
signatures of individuals who were at the time of execution Authorized Officers
of the Company will, to the fullest extent permitted by law, 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 Subordinated Notes or
did not hold such offices at the date of such Subordinated Notes. 

The Trustee or an
Authenticating Agent will authenticate and deliver the Initial Notes for
original issue in an aggregate principal amount of up to $[●] upon one or more Company Orders and an Opinion of Counsel. In addition,
the Trustee or an Authenticating Agent will upon receipt of a Company Order
authenticate and deliver any Exchange Notes for an aggregate principal amount
not to exceed $[●] specified in such Company Order for Exchange Notes
issued hereunder. The aggregate principal amount of Outstanding Subordinated
Notes at any time may not exceed the amount set forth in the foregoing sentence,
except as provided in Section 209. The Subordinated Notes will be issued only in
registered form without coupons and in minimum denominations of $1,000 and any
integral multiple of $1,000 in excess thereof. 

The Trustee will not be
required to authenticate any Subordinated Notes if the issue of such
Subordinated Notes under this Indenture will affect the Trustee’s own rights,
duties or immunities under the Subordinated Notes and this Indenture or
otherwise in a manner that is not reasonably acceptable to the Trustee or if the
Trustee, being advised by counsel, determines that such action may not lawfully
be taken. 

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

Section 206 Registrar and
Paying Agent. 

The Company will maintain
an office or agency where Subordinated Notes may be presented for registration
of transfer or for exchange (“Registrar”) and an
office or agency where Subordinated Notes may be presented for payment
“Paying
Agent”). The Registrar will
keep a register of the Subordinated Notes (“Subordinated Note Register”) and of their transfer and exchange. The
registered Holder of a Subordinated Note will be treated as the owner of the
Subordinated Note for all purposes. The Company may appoint one or more
co-registrars and one or more additional paying agents. The term “Registrar”
includes any co-registrar and the term “Paying Agent” includes any additional
paying agent. The Company may change any Paying Agent or Registrar without prior
notice to any Holder; provided that no such removal or replacement will be
effective until a successor Paying Agent or Registrar will have been appointed
by the Company and will have accepted such appointment. The Company will notify
the Trustee in writing of the name and address of any Registrar or Paying Agent
not a party to this Indenture. If the Company fails to appoint or maintain
another entity as Registrar or Paying Agent, the Trustee will act as such. The
Company or any of its Subsidiaries may act as Paying Agent or
Registrar.

18 

The Company initially
appoints the Trustee to act as the Paying Agent and Registrar for the
Subordinated Notes and, in the event that any Subordinated Notes are issued in
global form, to initially act as custodian with respect to the Global
Subordinated Notes. In the event that the Trustee will not be or will cease to
be Registrar with respect the Subordinated Notes, it will have the right to
examine the Subordinated Note Register at all reasonable times. There will be
only one Subordinated Note Register. 

Section 207 Registration of
Transfer and Exchange 

(1) Except as otherwise provided
in or under this Indenture, upon surrender for registration of transfer of any
Subordinated Note, the Company will execute, and the Trustee will authenticate
and deliver, in the name of the designated transferee or transferees, one or
more new Subordinated Notes denominated as authorized in or under this
Indenture, of a like aggregate principal amount bearing a number not
contemporaneously outstanding and containing identical terms and provisions.

Except as otherwise
provided in or under this Indenture, at the option of the Holder, Subordinated
Notes may be exchanged for other Subordinated Notes containing identical terms
and provisions, in any authorized denominations (minimum denominations of $1,000
and any integral multiple of $1,000 in excess thereof), and of a like aggregate
principal amount, upon surrender of the Subordinated Notes to be exchanged at
any office or agency for such purpose. Whenever any Subordinated Notes are so
surrendered for exchange, the Company will execute, and the Trustee will
authenticate and deliver, the Subordinated Notes that the Holder making the
exchange is entitled to receive. 

All Subordinated Notes
issued upon any registration of transfer or exchange of Subordinated Notes will
be the valid obligations of the Company evidencing the same debt and entitling
the Holders thereof to the same benefits under this Indenture as the
Subordinated Notes surrendered upon such registration of transfer or exchange.

Every Subordinated Note
presented or surrendered for registration of transfer or for exchange or
redemption will (if so required by the Company or the Registrar for such
Subordinated Note) be duly endorsed, or be accompanied by a written instrument
of transfer in form satisfactory to the Company and the Registrar for such
Subordinated Note duly executed by the Holder thereof or his attorney duly
authorized in writing. 

19 

No service charge will be
made for any registration of transfer or exchange of Subordinated Notes, or any
redemption or repayment of Subordinated Notes, or any conversion or exchange of
Subordinated Notes for other types of securities or property, but the Company
may require payment of a sum sufficient to pay all taxes, assessments or other
governmental charges that may be imposed in connection with the transfer or
exchange of the Subordinated Notes from the Holder requesting such transfer or
exchange. 

Except as otherwise
provided in or under this Indenture, the Company will not be required (i) to
issue, register the transfer of or exchange any Subordinated Notes during a
period beginning at the opening of business 15 days before the day of the
selection for redemption of Subordinated Notes under Section 1003 and ending at
the close of business on the day of such selection, or (ii) to register the
transfer of or exchange any Subordinated Note, or portion thereof, so selected
for redemption, except in the case of any Subordinated Note to be redeemed in
part, the portion thereof not to be redeemed. 

Any Registrar appointed in
accordance with Section 206 hereof will provide to the Trustee such information
as the Trustee may reasonably require in connection with the delivery by such
Registrar of Subordinated Notes upon transfer or exchange of Subordinated Notes.
No Registrar will be required to make registrations of transfer or exchange of
Subordinated Notes during any periods designated in the Subordinated Notes or in
this Indenture as periods during which such registration of transfers and
exchanges need not be made. 

The Trustee will have no
obligation or duty to monitor, determine or inquire as to compliance with any
restrictions on transfer imposed under this Indenture or under applicable law
with respect to any transfer of any interest in any Subordinated Note (including
any transfers between or among Depositary participants or beneficial owners of
interests in any Global Subordinated Note) other than to require delivery of
such certificates and other documentation or evidence as are expressly required
by, and to do so if and when expressly required by the terms of, this Indenture,
and to examine the same to determine substantial compliance as to form with the
express requirements hereof. 

Neither the Trustee nor any
Paying Agent will have any responsibility for any actions taken or not taken by
the Depositary. 

(2) When Definitive Subordinated
Notes are presented by a Holder to the Registrar with a request to register the
transfer of such Definitive Subordinated Notes or to exchange such Definitive
Subordinated Notes for an equal principal amount of Definitive Subordinated
Notes of other authorized denominations, the Registrar will register the
transfer or make the exchange as requested if its reasonable requirements for
such transaction are met; provided, however, that the Definitive Subordinated
Notes surrendered for transfer or exchange will be duly endorsed or accompanied
by a written instrument of transfer in form reasonably satisfactory to the
Company and the Registrar, duly executed by the Holder thereof or such Holder’s
attorney duly authorized in writing. 

(3) A Global Subordinated Note
may not be transferred except by the Depositary to a nominee of the Depositary,
by a nominee of the Depositary to the Depositary or to another nominee of the
Depositary, or by the Depositary or any such nominee to a successor Depositary
or a nominee of such successor Depositary. All Global Subordinated Notes will be
exchanged by the Company for Definitive Subordinated Notes if: (i) the
Depositary has notified the Company that it is unwilling or unable to continue
as Depositary for such Global Subordinated Note or such Depositary has ceased to
be a “clearing agency” registered under the Exchange Act, and a successor
depositary is not appointed by the Company within 90 days, (ii) the Company
determines that the Subordinated Notes are no longer to be represented by Global
Subordinated Notes and so notifies the Trustee, or (iii) an Event of Default has
occurred and is continuing with respect to the Subordinated Notes and the
Depositary or its participant(s) has requested the issuance of Definitive
Subordinated Notes.

20 

Any Global Subordinated
Note exchanged in accordance with clause (i) or (ii) above will be so exchanged
in whole and not in part, and any Global Subordinated Note exchanged in
accordance with clause (iii) above may be exchanged in whole or from time to
time in part as directed by the Depositary. 

Upon the occurrence of any
of the preceding events in (i), (ii) or (iii) above, Definitive Subordinated
Notes will be issued in fully registered form, without interest coupons, will
have an aggregate Principal Amount equal to that of the Global Subordinated Note
or portion thereof to be so exchanged, will be registered in such names and be
in such authorized denominations as the Depositary will instruct the Trustee in
writing and will bear such legends as provided herein. Global Subordinated Notes
also may be exchanged or replaced, in whole or in part, as provided in Section
209 hereof. Every Subordinated Note authenticated and delivered in exchange for,
or in lieu of, a Global Subordinated Note or any portion thereof, in accordance
with this Section 207 or Section 209 hereof, will be authenticated and delivered
in the form of, and will be, a Global Subordinated Note, except as otherwise
provided herein. A Global Subordinated Note may not be exchanged for another
Subordinated Note other than as provided in this Section 207(3); however,
beneficial interests in a Global Subordinated Note may be transferred and
exchanged as provided in Section 207(4) hereof. 

Any Global Subordinated
Note to be exchanged in whole will be surrendered by the Depositary to the
Trustee, as Registrar. With regard to any Global Subordinated Note to be
exchanged in part, either such Global Subordinated Note will be so surrendered
for exchange or, if the Trustee is acting as custodian for the Depository or its
nominee with respect to such Global Subordinated Note, the principal amount
thereof will be reduced, by an amount equal to the portion thereof to be so
exchanged, by means of an appropriate adjustment made on the records of the
Trustee. Upon any such surrender or adjustment, the Trustee will authenticate
and deliver the Subordinated Note issuable on such exchange to or upon the order
of the Depositary or an authorized representative thereof. 

(4) The transfer and exchange of
beneficial interests in the Global Subordinated Notes will be effected through
the Depositary in accordance with the Applicable Procedures and this Section
207. 

(5) A Definitive Subordinated
Note may not be exchanged for a beneficial interest in a Global Subordinated
Note unless the Company determines that the Subordinated Notes may be
represented by Global Subordinated Notes and so notifies the Trustee. After the
Company has determined that the Subordinated Notes may be represented by Global
Subordinated Notes and so notifies the Trustee, then upon receipt by the Trustee
of a Definitive Subordinated Note, duly endorsed or accompanied by appropriate
instruments of transfer, in form satisfactory to the Trustee, together with
written instructions from such Holder directing the Trustee to make, or to
direct the Registrar to make, an adjustment on its books and records with
respect to such Global Subordinated Note to reflect an increase in the aggregate
principal amount of the Subordinated Notes represented by the Global
Subordinated Note, such instructions to contain information regarding the
Depositary account to be credited with such increase, the Trustee will cancel
such Definitive Subordinated Note and cause, or direct the Registrar to cause,
in accordance with the standing instructions and procedures existing between the
Depositary and the Registrar, the aggregate principal amount of Subordinated
Notes represented by the Global Subordinated Note to be increased by the
aggregate principal amount of the Definitive Subordinated Note to be exchanged,
and will credit or cause to be credited to the account of the Person specified
in such instructions a beneficial interest in the Global Subordinated Note equal
to the principal amount of the Definitive Subordinated Note so cancelled. If no
Global Subordinated Notes are then outstanding, the Company will issue and the
Trustee will authenticate, upon Company Order, a new Global Subordinated Note in
the appropriate principal amount.

21 

(6) At such time as all
beneficial interests in a particular Global Subordinated Note have been
exchanged for Definitive Subordinated Notes or a particular Global Subordinated
Note has been repurchased or canceled in whole and not in part, each such Global
Subordinated Note will be returned to or retained and canceled by the Trustee in
accordance with Section 212 hereof. At any time prior to such cancellation, if
any beneficial interest in a Global Subordinated Note is exchanged for or
transferred to a Person who will take delivery thereof in the form of a
beneficial interest in another Global Subordinated Note or for Definitive
Subordinated Notes, the principal amount of Subordinated Notes represented by
such Global Subordinated Note will be reduced accordingly by adjustments made on
the records of the Trustee to reflect such reduction; and if the beneficial
interest is being exchanged for or transferred to a Person who will take
delivery thereof in the form of a beneficial interest in another Global
Subordinated Note, such other Global Subordinated Note will be increased
accordingly by adjustments made on the records of the Trustee to reflect such
increase. 

(7) No Restricted Subordinated
Note will be transferred or exchanged except in compliance with the Private
Placement Legend or as provided in accordance with Section 208. In addition to
the provisions for transfer and exchange set forth in this Section 207, the
Trustee, any Registrar and Paying Agent (if a different Person than the Trustee)
and the Company may, prior to effecting any requested transfer or exchange of
any Restricted Subordinated Notes, other than an exchange in accordance with
Section 208, require that legal counsel to the Holder or owner of beneficial
interests requesting such transfer or exchange deliver to the Trustee, any
Registrar and Paying Agent (if a different Person than the Trustee) and the
Company, an Opinion of Counsel in compliance with this Indenture and
additionally opining that the transfer or exchange is in compliance with the
requirements of the Private Placement Legend and that the Subordinated Note
issued to the transferee or in exchange for the Restricted Subordinated Note may
be issued free of the Private Placement Legend. Any untransferred or unexchanged
balance of a Restricted Subordinated Note will be reissued to the Holder with
the Private Placement Legend, unless the Private Placement Legend may be omitted
in accordance with Section 204, as evidenced by the Opinion of Counsel.

22 

Section 208 Exchange Offer. 
Upon the occurrence of an Exchange Offer in accordance with the Registration Rights Agreement, the Company will issue and, upon receipt of a Company Order in accordance with Section 205 hereof, the Trustee will authenticate (i) Unrestricted Definitive Subordinated Notes in an aggregate principal amount equal to the principal amount of the Restricted Definitive Subordinated Notes tendered in such Exchange Offer for acceptance by Persons that certify in the applicable Letters of Transmittal that (x) they are not Participating Broker-Dealers, (y) they are not participating in a distribution of the applicable Exchange Notes and (z) they are not Affiliates of the Company, and accepted for exchange in such Exchange Offer or, if permitted by the Company, (ii) one or more Unrestricted Global Subordinated Notes in an aggregate principal amount equal to the principal amount of the beneficial interests in the Restricted Global Subordinated Notes tendered in such Exchange Offer for acceptance by Persons that certify in the applicable Letters of Transmittal that (x) they are not Participating Broker-Dealers, (y) they are not participating in a distribution of the applicable Exchange Notes and (z) they are not Affiliates of the Company, and accepted for exchange in such Exchange Offer. Concurrently with the issuance of such Unrestricted Global Subordinated Notes upon exchange of Restricted Global Subordinated Notes, the Trustee will cause the aggregate principal amount of the applicable Restricted Global Subordinated Notes to be reduced accordingly, and the Company will execute and the Trustee will authenticate and mail to the Persons designated by the Holders of Restricted Definitive Subordinated Notes so accepted Unrestricted Definitive Subordinated Notes in the applicable principal amount. Any Subordinated Notes that remain outstanding after the consummation of such Exchange Offer, and Exchange Notes issued in connection with such Exchange Offer, will be treated as a single class of securities under this Indenture. 
Section 209 Mutilated, Destroyed, Lost and Stolen Subordinated Notes. 
If any mutilated Subordinated Note is surrendered to the Trustee, subject to the provisions of this Section 209, the Company will execute and the Trustee will authenticate and deliver in exchange therefor a new Subordinated Note containing identical terms and of like principal amount and bearing a number not contemporaneously outstanding. 
If there be delivered to the Company and to the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Subordinated Note, and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Subordinated Note has been acquired by a bona fide purchaser, the Company will execute and, upon the Company’s request the Trustee will authenticate and deliver, in exchange for or in lieu of any such destroyed, lost or stolen Subordinated Note, a new Subordinated Note containing identical terms and of like principal amount and bearing a number not contemporaneously outstanding. 
Notwithstanding the foregoing provisions of this Section 209, in case the outstanding principal balance of any mutilated, destroyed, lost or stolen Subordinated Note has become or is about to become due and payable, or is about to be redeemed by the Company pursuant to Article X hereof, the Company in its discretion may, instead of issuing a new Subordinated Note, pay or redeem such Subordinated Note, as the case may be. 
23 

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

Every new Subordinated Note
issued in accordance with this Section in lieu of any destroyed, lost or stolen
Subordinated Note will constitute a separate obligation of the Company, whether
or not the destroyed, lost or stolen Subordinated Note will be at any time
enforceable by anyone, and will be entitled to all the benefits of this
Indenture equally and proportionately with any and all other Subordinated Notes
duly issued hereunder. 

The provisions of this
Section, as amended or supplemented in accordance with this Indenture with
respect to particular Subordinated Notes or generally, will (to the extent
lawful) be exclusive and will preclude (to the extent lawful) all other rights
and remedies with respect to the replacement or payment of mutilated, destroyed,
lost or stolen Subordinated Notes. 

Section 210 Payment of
Interest; Rights to Interest Preserved. 

Any interest on any
Subordinated Note that will be payable, and punctually paid or duly provided
for, on any Interest Payment Date will be paid to the Person in whose name such
Subordinated Note is registered as of the close of business on the Regular
Record Date for such interest. 

Any interest on any
Subordinated Note that will be payable, but will not be punctually paid or duly
provided for, on any Interest Payment Date for such Subordinated Note (herein
called “Defaulted
Interest”) will cease to be
payable to the Holder thereof on the relevant Regular Record Date by virtue of
having been such Holder; and such Defaulted Interest may be paid by the Company,
at its election in each case, as provided in clause (1) or (2) below:

(1) The Company may elect to make
payment of any Defaulted Interest to the Person in whose name such Subordinated
Note will be registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest, which will be fixed in the following
manner. The Company will notify the Trustee in writing of the amount of
Defaulted Interest proposed to be paid on such Subordinated Note and the date of
the proposed payment, and at the same time the Company will deposit with the
Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such Defaulted Interest or will make arrangements satisfactory to the
Trustee for such deposit on or prior to the date of the proposed payment, such
money when so deposited to be held in trust for the benefit of the Person
entitled to such Defaulted Interest as in this clause provided. Thereupon, the
Company will fix or cause to be fixed a Special Record Date for the payment of
such Defaulted Interest, which will be not more than 15 days and not less than
10 days prior to the date of the proposed payment and not less than 10 days
after the receipt by the Trustee of the notice of the proposed payment. The
Company (or, upon the written request of the Company, the Trustee in the name
and at the expense of the Company), will cause notice of the proposed payment of
such Defaulted Interest and the Special Record Date therefor to be mailed,
first-class postage prepaid, to the Holder of such Subordinated Note at the
Holder’s address as it appears in the Subordinated Note Register not less than
10 days prior to such Special Record Date. The Company may, in its discretion,
in the name and at the expense of the Company cause a similar notice to be
published at least once in an Authorized Newspaper of general circulation in the
City of [●], [●], but such
publication will not be a condition precedent to the establishment of such
Special Record Date. Notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor having been mailed as aforesaid, such
Defaulted Interest will be paid to the Person in whose name such Subordinated
Note will be registered at the close of business on such Special Record Date and
will no longer be payable under the following clause (2).

24 

(2) The Company may make payment
of any Defaulted Interest in any other lawful manner not inconsistent with the
requirements of any securities exchange on which such Subordinated Note 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 under this
Clause, such payment will be deemed practicable by the Trustee. 

Unless otherwise provided
in or under this Indenture or the Subordinated Notes, at the option of the
Company, interest on Subordinated Notes may be paid by mailing a check to the
address of the Person entitled thereto as such address will appear in the
Subordinated Note Register or by transfer to an account maintained by the payee
with a bank located in the United States. 

Subject to the foregoing
provisions of this Section and Section 207, each Subordinated Note delivered
under this Indenture upon registration of transfer of or in exchange for or in
lieu of any other Subordinated Note will carry the rights to interest accrued
and unpaid, and to accrue, which were carried by such other Subordinated Note.

Section 211 Persons Deemed
Owners. 

Prior to due presentment of
a Subordinated Note for registration of transfer, the Company, the Trustee and
any agent of the Company or the Trustee may treat the Person in whose name such
Subordinated Note is registered in the Subordinated Note Register as the owner
of such Subordinated Note for the purpose of receiving payment of principal of,
and (subject to Section 207 and Section 210) interest on, such Subordinated Note
and for all other purposes whatsoever, whether or not any payment with respect
to such Subordinated Note will be overdue, and neither the Company, the Trustee
or any agent of the Company or the Trustee will be affected by notice to the
contrary. 

No holder of any beneficial
interest in any Global Subordinated Note held on its behalf by a Depositary will
have any rights under this Indenture with respect to such Global Subordinated
Note, and such Depositary may be treated by the Company, the Trustee, and any
agent of the Company or the Trustee as the owner of such Global Subordinated
Note for all purposes whatsoever. None of the Company, the Trustee, any Paying
Agent or the Registrar will have any responsibility or liability for any aspect
of the records relating to or payments made on account of beneficial ownership
interests of a Global Subordinated Note or for maintaining, supervising or
reviewing any records relating to such beneficial ownership interests.

Notwithstanding the
foregoing, nothing herein will prevent the Company, the Trustee, any Paying
Agent or the Registrar from giving effect to any written certification, proxy or
other authorization furnished by the applicable Depositary, as a Holder, with
respect to a Global Subordinated Note or impair, as between such Depositary and
the owners of beneficial interests in such Global Subordinated Note, the
operation of customary practices governing the exercise of the rights of such
Depositary (or its nominee) as the Holder of such Global Subordinated
Note.

25 

Section 212 Cancellation. 

All Subordinated Notes
surrendered for payment, redemption, registration of transfer or exchange will,
if surrendered to any Person other than the Trustee, be delivered to the
Trustee, and any such Subordinated Note, as well as Subordinated Notes
surrendered directly to the Trustee for any such purpose, will be cancelled
promptly by the Trustee. The Company may at any time deliver to the Trustee for
cancellation any Subordinated Notes previously authenticated and delivered
hereunder which the Company may have acquired in any manner whatsoever, and all
Subordinated Notes so delivered will be cancelled promptly by the Trustee, No
Subordinated Notes will be authenticated in lieu of or in exchange for any
Subordinated Notes cancelled as provided in this Section, except as expressly
permitted by or under this Indenture. All cancelled Subordinated Notes held by
the Trustee will be disposed of in accordance with its procedure for the
disposition of cancelled Subordinated Notes, and the Trustee upon the written
request of the Company will deliver to the Company a certificate of such
disposition, unless by a Company Order the Company shall direct that cancelled
Subordinated Notes shall be returned to the Company. 

Section 213 Computation of
Interest. 

[Interest on the
Subordinated Notes will be computed on the basis of a 360 day year of twelve 30
day months and, for any period less than a full month, on the number of days
actually elapsed.]

[From and including
the original issue date of the Subordinated Notes to but excluding
[●], 20[●], the rate at which the Subordinated Notes
shall bear interest shall be [●]% per annum, computed on the basis of a
360-day year consisting of twelve 30-day months and payable semi-annually in
arrears on Fixed Interest Payment Dates. From and including [●], 20[●] to but
excluding the Stated Maturity, the rate at which the Subordinated Notes shall
bear interest shall be a floating rate equal to LIBOR determined on the
determination date of the applicable Interest Period plus [●] basis points, computed on the
basis of a 360-day year and the actual number of days elapsed and payable
quarterly in arrears on Floating Interest Payment Dates. Any payment of
principal of or interest on the Subordinated Notes that would otherwise become
due and payable on a day which is not a Business Day will become due and payable
on the next succeeding Business Day, with the same force and effect as if made
on the date for payment of such principal or interest, and no interest will
accrue in respect of such payment for the period after such
day.]

Section 214 CUSIP
Numbers. 

The Company may issue the
Subordinated Notes with one or more “CUSIP” numbers (if then generally in use).
The Company will promptly notify the Trustee of any change in the CUSIP numbers.
The Trustee may use “CUSIP” numbers in notices (including but not limited to
notices of redemption or exchange) 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 Subordinated Notes or as contained in
any notice (including any notice of redemption or exchange) and that reliance
may be placed only on the other identification numbers printed on the
Subordinated Notes, and any such notice will not be affected by any defect in or
omission of such numbers.

26 

ARTICLE
III 
SATISFACTION AND DISCHARGE OF INDENTURE

Section 301 Satisfaction
and Discharge. 

This Indenture will cease
to be of further effect, and the Trustee, on receipt of a Company Order, at the
expense of the Company, will execute proper instruments acknowledging
satisfaction and discharge of this Indenture, when 

(1) either 

(a) all Subordinated Notes
theretofore authenticated and delivered (other than (i) Subordinated Notes that
have been destroyed, lost or stolen and which have been replaced or paid as
provided in Section 209 and (ii) Subordinated Notes for whose payment money has
theretofore been deposited in trust or segregated and held in trust by the
Company and thereafter repaid to the Company or discharged from such trust, as
provided in Section 903) have been delivered to the Trustee for cancellation; or

(b) all Subordinated Notes that
have not been delivered to the Trustee for cancellation (i) have become due and
payable, or (ii) will become due and payable at their Stated Maturity within one
year, or (iii) if redeemable at the option of the Company, are to be called for
redemption within one year under arrangements satisfactory to the Trustee for
the giving of notice of redemption by the Trustee in the name, and at the
expense, of the Company, and the Company, in the case of (i), (ii) or (iii)
above, has deposited or caused to be deposited with the Trustee as trust funds
in trust for such purpose, an amount sufficient to pay and discharge the entire
indebtedness on such Subordinated Notes not theretofore delivered to the Trustee
for cancellation, including the principal of, and interest on, such Subordinated
Notes, to the date of such deposit (in the case of Subordinated Notes which have
become due and payable) or to the Maturity thereof, as the case may be;

(2) the Company has paid or
caused to be paid all other sums payable hereunder by the Company with respect
to the Outstanding Subordinated Notes; and 

(3) the Company has delivered to
the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating
that all conditions precedent herein provided for relating to the satisfaction
and discharge of this Indenture have been satisfied 

Notwithstanding the
satisfaction and discharge of this Indenture with respect to the Subordinated
Notes, the obligations of the Company to the Trustee under Section 507 and, if
money will have been deposited with the Trustee in accordance with Section
301(1)(b), the obligations of the Company and the Trustee with respect to the
Subordinated Notes under Section 303 and Section 903 will survive.

27 

Section 302 Legal
Defeasance and Covenant Defeasance. 

(1) The Company may at its option
and at any time, elect to have Section 302(2) or Section 302(3) be applied to
such Outstanding Subordinated Notes upon compliance with the conditions set
forth below in this Section 302. Legal Defeasance and Covenant Defeasance may be
effected only with respect to all, and not less than all, of the Outstanding
Subordinated Notes. 

(2) Upon the Company’s exercise
of the above option applicable to this Section 302(2), the Company will be
deemed to have been discharged from its obligations with respect to such
Outstanding Subordinated Notes on the date the conditions set forth in clause
(4) of this Section 302 are satisfied (“Legal Defeasance”). For this purpose. Legal Defeasance means that
the Company will be deemed to have paid and discharged the entire indebtedness
represented by such Outstanding Subordinated Notes, which will thereafter be
deemed to be “Outstanding” only for the purposes of Section 302(5) and the other
Sections of this Indenture referred to in clauses (i) through (iv) of this
paragraph, and to have satisfied all of its other obligations under such
Subordinated Notes and this Indenture insofar as such Subordinated Notes are
concerned (and the Trustee, at the expense of the Company, will execute proper
instruments acknowledging the same), except for the following which will survive
until otherwise terminated or discharged hereunder: (i) the rights of Holders of
such Outstanding Subordinated Notes to receive, solely from the trust fund
described in Section 302(4)(a) and as more fully set forth in this Section 302
and Section 303, payments in respect of the principal of and interest, if any,
on, such Subordinated Notes when such payments are due, (ii) the obligations of
the Company and the Trustee with respect to such Subordinated Notes under
Section 207, Section 209, Section 902 and Section 903, (iii) the rights, powers,
trusts, duties and immunities of the Trustee hereunder and (iv) this Section
302 and Section 303. The Company may exercise its
option under this Section 302(2) notwithstanding the prior exercise of its
option under Section 302(3) with respect to such Subordinated Notes. 

(3) Upon the Company’s exercise
of the above option applicable to this Section 302(3), the Company will be
released from its obligations under clauses (ii) and (iii) of Section 904 and
under Section 905, Section 906 and Section 907 on and after the date the
conditions set forth in Section 302(4) are satisfied (“Covenant Defeasance”), and such Subordinated Notes will thereafter be
deemed to be not “Outstanding” for the purposes of any direction, waiver,
consent or declaration or Act of Holders (and the consequences of any thereof)
in connection with any such covenant, but will continue to be deemed
“Outstanding” for all other purposes hereunder. For this purpose, such Covenant
Defeasance means that with respect to such Outstanding Subordinated Notes, the
Company may omit to comply with, and will have no liability in respect of. any
term, condition or limitation set forth in any such Section or any such other
covenant, whether directly or indirectly, by reason of any reference elsewhere
herein to any such Section or such other covenant or by reason of reference in
any such Section or such other covenant to any other provision herein or in any
other document and such omission to comply will not constitute a default, but,
except as specified above, the remainder of this Indenture and such Subordinated
Notes will be unaffected thereby. 

28 

(4) The following will be the
conditions to application of Section 302(2) or Section 302(3) to any Outstanding
Subordinated Notes: 

(a) The Company will irrevocably
have deposited or caused to be deposited with the Trustee (or another trustee
satisfying the requirements of Section 508 who will agree to comply with the
provisions of this Section 302 applicable to it) as trust funds in trust for the
purpose of making the following payments, specifically pledged as security for,
and dedicated solely to, the benefit of the Holders, (i) an amount in Dollars,
(ii) Government Obligations that through the scheduled payment of principal and
interest in respect thereof in accordance with their terms will provide, not
later than one day before the due date of any payment of principal of and
interest, if any, on such Subordinated Notes, money or (iii) a combination
thereof, in any case, in an amount, sufficient, without consideration of any
reinvestment of such principal and interest, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and discharge, and which
will be applied by the Trustee (or other qualifying trustee) to pay and
discharge, the principal of and interest, if any, on, such Outstanding
Subordinated Notes on the Stated Maturity of such principal or installment of
principal or interest or the applicable Redemption Date, as the case may be.

(b) Such Legal Defeasance or
Covenant Defeasance will not result in a breach or violation of, or constitute a
default under, this Indenture or any other material agreement or instrument to
which the Company or any Subsidiary is a party or by which it is bound.

(c) No Event of Default or event
which with notice or lapse of time or both would become an Event of Default with
respect to such Subordinated Notes will have occurred and be continuing on the
date of such deposit, and, solely in the case of Legal Defeasance under Section
302(2), no Event of Default, or event which with notice or lapse of time or both
would become an Event of Default, under Section 401 will have occurred and be
continuing at any time during the period ending on and including the
91st day after the date of such deposit (it being understood that
this condition to Legal Defeasance under Section 302(2) will not be deemed
satisfied until the expiration of such period), 

(d) In the case of Legal
Defeasance, the Company will have delivered to the Trustee an Opinion of Counsel
reasonably acceptable to the Trustee stating that (i) the Company has received
from, or there has been published by, the Internal Revenue Service a ruling or
(ii) since the date of this Indenture there has been a change in applicable
federal income tax law, in either case to the effect that, and based thereon
such opinion of independent counsel will confirm that, the Holders of such
Outstanding Subordinated Notes will not recognize income, gain or loss for
federal income tax purposes as a result of such Legal Defeasance and will be
subject to federal income tax on the same amounts, in the same manner and at the
same times as would have been the case if such Legal Defeasance had not
occurred. 

(e) In the case of Covenant
Defeasance, the Company will have delivered to the Trustee an Opinion of Counsel
reasonably acceptable to the Trustee to the effect that the Holders of such
Outstanding Subordinated Notes will not recognize income, gain or loss for
federal income tax purposes as a result of such Covenant Defeasance and will be
subject to federal income tax on the same amounts, in the same manner and at the
same times as would have been the case if such Covenant Defeasance had not
occurred.

29 

(f) The Company will have
delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel,
each stating that all conditions precedent to the Legal Defeasance or Covenant
Defeasance, as the case may be, under this Indenture have been satisfied.

(g) If the moneys or Government
Obligations or combination thereof, as the case may be, deposited under Section
302(4)(a) above are sufficient to pay the principal of, and interest, if any,
on, such Subordinated Notes provided such Subordinated Notes are redeemed on a
particular Redemption Date, the Company will have given the Trustee irrevocable
instructions to redeem such Subordinated Notes on such date and to provide
notice of such redemption to Holders as provided in or under this Indenture.

(h) The Trustee will have
received such other documents, assurances and Opinions of Counsel as the Trustee
will have reasonably required. 

(5) Subject to the provisions of
the last paragraph of Section 903, all money and Government Obligations
deposited with the Trustee (or other qualifying trustee, collectively for
purposes of this Section 302(5), the “Trustee”) in
accordance with Section 302(4)(a) in respect of any Outstanding Subordinated
Notes will be held in trust and applied by the Trustee, in accordance with the
provisions of such Subordinated Notes and this Indenture, to the payment, either
directly or through any Paying Agent (other than the Company or any Subsidiary
or Affiliate of the Company acting as Paying Agent) as the Trustee may
determine, to the Holders of all sums due and to become due thereon in respect
of principal and interest but such money and Government Obligations need not be
segregated from other funds, except to the extent required by law. 

The Company will pay and
indemnify the Trustee against any tax, fee or other charge, imposed on or
assessed against the Government Obligations deposited in accordance with this
Section 302 or the principal or interest received in respect thereof other than
any such tax, fee or other charge which by law is for the account of the Holders
of the Outstanding Subordinated Notes. 

Section 303 Application of
Trust Money. 

Subject to the provisions
of the last paragraph of Section 903, all money and Government Obligations
deposited with the Trustee in accordance with Section 301 or Section 302 will be
held in trust and applied by the Trustee, in accordance with the provisions of
such Subordinated Notes subject to discharge under Section 301 or Legal
Defeasance or Covenant Defeasance under Section 302, and this Indenture, to the
payment, either directly or through any Paying Agent (including the Company,
acting as its own Paying Agent) as the Trustee may determine, to the Persons
entitled thereto, of the principal and interest for whose payment such money has
or Government Obligations have been deposited with or received by the Trustee;
but such money and Government Obligations need not be segregated from other
funds, except to the extent required by law. 

30 

Section 304 Reinstatement. 

If the Trustee (or other
qualifying trustee appointed in accordance with Section 302(4)(a)) or any Paying
Agent is unable to apply any moneys or Government Obligations deposited in
accordance with Section 301(1) or Section 302(4)(a) to pay any principal of, or
interest, if any, on, the Subordinated Notes by reason of any legal proceeding
or any order or judgment of any court or governmental authority enjoining,
restraining or otherwise prohibiting such application, then the Company’s
obligations under this Indenture and the Subordinated Notes will be revived and
reinstated as though no such deposit had occurred, until such time as the
Trustee (or other qualifying trustee) or Paying Agent is permitted to apply all
such moneys and Government Obligations to pay the principal of, and interest, if
any, on the Subordinated Notes as contemplated by Section 301 or Section 302 as
the case may be; provided, however, that if the Company makes any payment of the
principal of, or interest if any on, the Subordinated Notes following the
reinstatement of its obligations as aforesaid, the Company will be subrogated to
the rights of the Holders of such Subordinated Notes to receive such payment
from the funds held by the Trustee (or other qualifying trustee) or Paying
Agent. 

Section 305 Effect on
Subordination Provisions.

The provisions of Article
XI are expressly made subject to the provisions for, and to the right of the
Company to effect, the satisfaction and discharge of all of the Subordinated
Notes as set forth in and in accordance with Section 301 and the provisions for,
and to the right of the Company to effect, Legal Defeasance and Covenant
Defeasance of all of the Subordinated Notes as set forth in and in accordance
with Section 302. As a result, and anything herein to the contrary
notwithstanding, if the Company complies with the provisions of Section 301 to
effect the satisfaction and discharge of the Subordinated Notes or complies with
the provisions of Section 302 to effect the Legal Defeasance or Covenant
Defeasance, upon the effectiveness of such satisfaction and discharge in
accordance with Section 301 or of Legal Defeasance or Covenant Defeasance in
accordance with Section 302, in the case of satisfaction and discharge in
accordance with Section 301, or, in the case of Legal Defeasance or Covenant
Defeasance in accordance with Section 302, the Subordinated Notes as to which
Legal Defeasance or Covenant Defeasance, as the case may be, will have become
effective will thereupon cease to be so subordinated in right of payment to the
Senior Indebtedness and will no longer be subject to the provisions of Article
XI and, without limitation to the foregoing, all moneys and Government
Obligations deposited with the Trustee (or other qualifying trustee) in trust in
connection with such satisfaction and discharge. Legal Defeasance or Covenant
Defeasance, as the case may be, and all proceeds therefrom may be applied to pay
the principal of, and interest, if any, on, such Subordinated Notes as and when
the same will become due and payable notwithstanding the provisions of Article
XI without regard to whether any or all of the Senior Indebtedness then
outstanding will have been paid or otherwise provided for. 

31 

ARTICLE
IV 
REMEDIES

Section 401 Events of
Default; Acceleration.

An “Event of Default” means
any one of the following events (whatever the reason for such Event of Default
and whether it will be voluntary or involuntary or be effected by operation of law or in accordance with any judgment, decree, or order of any court or
any order, rule, or regulation of any administrative or governmental body):

(1) the entry of a decree or
order for relief in respect of the Company by a court having jurisdiction in the
premises in an involuntary case or proceeding under any applicable bankruptcy,
insolvency, or reorganization law, now or hereafter in effect of the United
States or any political subdivision thereof, and such decree or order will have
continued unstayed and in effect for a period of 60 consecutive days;

(2) the commencement by the
Company of a voluntary case under any applicable bankruptcy, insolvency or
reorganization law, now or hereafter in effect of the United States or any
political subdivision thereof, or the consent by the Company to the entry of a
decree or order for relief in an involuntary case or proceeding under any such
law; 

(3) the failure of the Company to
pay any installment of interest on any of the Subordinated Notes as and when the
same will become due and payable, and the continuation of such failure for a
period of 30 days; 

(4) the failure of the Company to
pay all or any part of the principal of any of the Subordinated Notes as and
when the same will become due and payable under this Indenture; 

(5) the failure of the Company to
perform any other covenant or agreement on the part of the Company contained in
the Subordinated Notes or in this Indenture, and the continuation of such
failure for a period of 60 days after the date on which notice specifying such
failure, stating that such notice is a “Notice of Default” hereunder and
demanding that the Company remedy the same, will have been given, in the manner
set forth in Section 105, to the Company by the Trustee, or to the Company and
the Trustee by the Holders of at least [●]% in aggregate
principal amount of the Subordinated Notes at the time Outstanding; or the
default by the Company under any bond, debenture, note or other evidence of
indebtedness for money borrowed by the Company having an aggregate principal
amount outstanding of at least $[●], whether such indebtedness now exists or is
created or incurred in the future, which default (i) constitutes a failure to
pay any portion of the principal of such indebtedness when due and payable after
the expiration of any applicable grace period or (ii) results in such
indebtedness becoming due or being declared due and payable prior to the date on
which it otherwise would have become due and payable without, in the case of
clause (i), such indebtedness having been discharged or, in the case of clause
(ii), without such indebtedness having been discharged or such acceleration
having been rescinded or annulled. 

Upon becoming aware of any
Event of Default, the Company will promptly deliver to the Trustee a written
statement specifying the Event of Default. 

If an Event of Default
described in Section 401(1) or Section 401(2) occurs, then the principal amount
of all of the Outstanding Subordinated Notes, and accrued and unpaid interest,
if any, on all Outstanding Subordinated Notes will become and be immediately due
and payable without any declaration or other act on the part of the Trustee or
any Holder, and the Company waives demand, presentment for payment, notice of
nonpayment, notice of protest, and all other notices. Notwithstanding the
foregoing, because the Company will treat the Subordinated Notes as Tier 2
Capital, upon the occurrence of an Event of Default other than an Event of
Default described in Section 401(1) or Section 401(2), neither the Trustee nor
any Holder may accelerate the Maturity of the Subordinated Notes and make the
principal of, and any accrued and unpaid interest on, the Subordinated Notes,
immediately due and payable.

32 

If any Event of Default
occurs and is continuing, the Trustee may also pursue any other available remedy
to collect the payment of principal of, and interest on, the Subordinated Notes
or to enforce the performance of any provision of the Subordinated Notes or this
Indenture. 

Section 402 Failure to Make
Payments. 

If an Event of Default
described in Section 401(3) or Section 401(4) occurs, the Company will, upon
demand of the Trustee, pay to the Trustee, for the benefit of the Holders of
such Subordinated Notes, the whole amount then due and payable with respect to
such Subordinated Notes, with interest upon the overdue principal, and, to the
extent permitted by applicable law, upon any overdue installments of interest at
the rate or respective rates, as the case may be, provided for or with respect
to such Subordinated Notes or, if no such rate or rates are so provided, at the
rate or respective rates, as the case may be, of interest borne by such
Subordinated Notes, and, in addition thereto, such further amount of money as
will be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel and all other amounts due to the Trustee under Section
507. 

If the Company fails to pay
the money it is required to pay the Trustee 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 Subordinated Notes and collect the moneys
adjudged or decreed to be payable in the manner provided by law out of the
property of the Company, wherever situated. 

The Trustee may in its
discretion proceed to protect and enforce its rights and the rights of the
Holders of Subordinated Notes by such appropriate judicial proceedings as the
Trustee will deem most effectual to protect and enforce any such rights, whether
for the specific enforcement of any covenant or agreement in this Indenture or
in aid of the exercise of any power granted in this Indenture, or to enforce any
other proper remedy. 

Upon the occurrence of a
failure by the Company to make any required payment of principal or interest on
the Subordinated Notes, the Company may not declare or pay any dividends or
distributions on, or redeem, purchase, acquire, or make a liquidation payment
with respect to, any of the Company’s capital stock, make any payment of
principal or interest or premium, if any, on or repay, repurchase or redeem any
debt securities of the Company that rank equal with or junior to the
Subordinated Notes, or make any payments under any guarantee that ranks equal
with or junior to the Subordinated Notes, other than: (i) any dividends or
distributions in shares of, or options, warrants or rights to subscribe for or
purchase shares of, any class of Company’s common stock; (ii) any declaration of
a dividend in connection with the implementation of a shareholders’ rights plan,
or the issuance of stock under any such plan in the future, or the redemption or
repurchase of any such rights pursuant thereto; (iii) as a result of a
reclassification of Company’s capital stock or the exchange or conversion of one
class or series of Company’s capital stock for another class or series of
Company’s capital stock; (iv) the purchase of fractional interests in shares of
Company’s capital stock in accordance with the conversion or exchange provisions
of such capital stock or the security being converted or exchanged; or (v)
purchases of any class of Company’s common stock related to the issuance of
common stock or rights under any benefit plans for Company’s directors, officers
or employees or any of Company’s dividend reinvestment plans.

33 

Section 403 Trustee May
File Proofs of Claim. 

In case of any judicial
proceeding relative to the Company (or any other obligor upon the Subordinated
Notes), its property or its creditors, the Trustee will be entitled and
empowered, by intervention in such proceeding or otherwise, to take any and all
actions authorized under the Trust Indenture Act in order to have claims of the
Holders and the Trustee allowed in any such proceeding. In particular, the
Trustee will be authorized to

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

(2) 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 authorized by each Holder to make such
payments to the Trustee and, in the event that the Trustee will consent to the
making of such payments directly to the Holders and to pay to the Trustee any
amount due it for the reasonable compensation, expenses, disbursements, and
advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 507. 

No provision of this
Indenture will 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 Subordinated Notes or the rights of any
Holder or to authorize the Trustee to vote in respect of the claim of any Holder
in any such proceeding; provided, however, the Trustee may vote on behalf of the
Holders for the election of a trustee in bankruptcy or similar official and may
be a member of a creditors, or other similar committee. 

Section 404 Trustee May
Enforce Claims Without Possession of Subordinated Notes. 

All rights of action and
claims under this Indenture or the Subordinated Notes may be prosecuted and
enforced by the Trustee without the possession of any of the Subordinated Notes
or the production of such Subordinated Notes in any related proceeding, and any
such proceeding instituted by the Trustee will be brought in its own name as
trustee of an express trust, and any recovery of judgment will, 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.

34 

Section 405 Application of
Money Collected. 

Any money collected by the
Trustee in accordance with this Article IV or, after an Event of Default, any
money or other property distributable in respect of the Company’s obligations
under this Indenture will be applied in the following order, at the date or
dates fixed by the Trustee and, in case of the distribution of such money on
account of principal or any interest, upon presentation of the Subordinated
Notes and the notation on such Subordinated Notes of the payment if only
partially paid and upon surrender of such Subordinated Notes if fully paid:

FIRST: To the payment of
all amounts due the Trustee (including any predecessor trustee) under Section
507; 

SECOND: To the payment of
amounts then due and unpaid to the holders of Senior Indebtedness, to the extent
required under the Subordination Provisions established with respect to the
Subordinated Notes; 

THIRD: To the payment of
the amounts then due and unpaid for principal of and any interest on the
Subordinated Notes in respect of which or for the benefit of which such money
has been collected, ratably, without preference or priority of any kind,
according to the aggregate amounts due and payable on such Subordinated Notes
for principal and interest, respectively; and 

FOURTH: The balance, if
any, to the Person or Persons entitled thereto. 

Section 406 Limitation on
Suits. 

No Holder of any
Subordinated Note will 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 under this Indenture, unless: 

(1) such Holder has previously
given written notice to the Trustee of a continuing Event of Default with
respect to the Subordinated Notes; 

(2) the Holders of not less than
[●]% in aggregate principal amount of the Outstanding
Subordinated Notes will have made written request to the Trustee to institute
proceedings in respect of such Event of Default in its own name as Trustee under
the Indenture; 

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

(4) the Trustee for 60 days after
its receipt of such notice, request, and offer of indemnity has failed to
institute any such proceeding; and 

35 

(5) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the Holders of a majority in the aggregate principal amount of the Outstanding Subordinated Notes; 
it being understood and intended that no one or more of such Holders will have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb, or prejudice the rights of any other 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 provided in this Indenture and for the equal and ratable benefit of all of such Holders. 
Section 407 Unconditional Right of Holders to Payments. 
Notwithstanding any other provision in this Indenture, the Holder of any Subordinated Note will have the right, which is absolute and unconditional, to receive payment of the principal of and (subject to Section 207 and Section 210) any interest on such Subordinated Note on the respective Stated Maturity or Maturities expressed in such Subordinated Note (or, in the case of redemption, on the Redemption Date), and to institute suit for the enforcement of any such payment and such rights will not be impaired without the consent of such Holder. 
Section 408 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 has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders will be restored severally and respectively to their former positions under this Indenture, and thereafter all rights and remedies of the Trustee and the Holders will continue as though no such proceeding had been instituted. 
Section 409 Rights and Remedies Cumulative. 
Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost, or stolen Subordinated Notes in the last paragraph of Section 209, no right or remedy conferred in this Indenture 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 will, to the extent permitted by law, be cumulative and in addition to every other right and remedy given under this Indenture or now or in the future existing at law or in equity or otherwise. The assertion or employment of any right or remedy under this Indenture, or otherwise, will not prevent the concurrent assertion or employment of any other appropriate right or remedy. 
Section 410 Delay or Omission Not Waiver. 
No delay or omission of the Trustee or of any Holder of any Subordinated Notes to exercise any right or remedy accruing upon any Event of Default will impair any such right or remedy or constitute a waiver of or acquiescence in any such Event of Default. 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. 
36 

Section 411 Control by
Holders. 

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

(1) such direction will not
violate any rule of law or this Indenture or the Subordinated Notes. 

(2) the Trustee may take any
other action deemed proper by the Trustee which is not inconsistent with such
direction, and 

(3) the Trustee will have the
right to decline to follow any such direction if the Trustee in good faith will,
by a Responsible Officer or Officers of the Trustee, determine that the
proceeding so directed would involve the Trustee in personal liability.

Section 412 Waiver of Past
Defaults. 

The Holders of not less
than a majority in aggregate principal amount of the Outstanding Subordinated
Notes may on behalf of the Holders of all the Subordinated Notes waive any past
default under this Indenture and its consequences, except a default in the
payment of the principal of, or interest on, any Subordinated Note, or in
respect of a covenant or provision of this Indenture which under Article VIII
cannot be modified or amended without the consent of the Holder of each
Outstanding Subordinated Note. 

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

Section 413 Undertaking for
Costs. 

All parties to this
Indenture agree, and each Holder of any Subordinated Notes by his acceptance of
such Subordinated Notes will 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 attorney’s fees and
expenses, against any party litigant in such suit, having due regard to the
merits and good faith of the claims or defenses made by such party litigant; but
the provisions of this Section 413 will 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 [●]% in principal
amount of the Outstanding Subordinated Notes, or to any suit instituted by any
Holder for the enforcement of the payment of the principal of or interest, if
any, on any Subordinated Notes on or after the Stated Maturity or Maturities
expressed in such Subordinated Notes (or, in the case of redemption, on or after
the Redemption Date). 

37 

ARTICLE
V 
THE TRUSTEE

Section 501 Duties of
Trustee. 

(1) If an Event of Default has
occurred and is continuing, the Trustee will exercise such of the rights and
powers vested in it hereby, and use the same degree of care and skill in its
exercise, as a prudent person would exercise or use under the circumstances in
the conduct of such person’s own affairs. 

(2) Except during the continuance
of an Event of Default: 

(a) the duties of the Trustee
will be determined solely by the express provisions hereof and the Trustee need
perform only those duties that are specifically set forth herein and no others,
and no implied covenants or obligations will be read into this Indenture against
the Trustee; and 

(b) 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 hereof; however, the Trustee will examine the certificates and
opinions to determine whether or not they conform to the requirements hereof
(but need not confirm or investigate the accuracy of mathematical calculations
or other facts stated therein). 

(3) Whether or not therein
expressly so provided, every provision hereof that in any way relates to the
Trustee is subject to paragraphs (1) and (2) of this Section 501 and to Section
502. 

(4) No provision hereof will
require the Trustee to expend or risk its own funds or incur any liability. The
Trustee will be under no obligation to exercise any of its rights and powers
under this Indenture at the request of any Holders, unless such Holder has
offered to the Trustee security and indemnity reasonably satisfactory to it
against any loss, liability or expense. 

(5) The Trustee will not be
liable for interest on any money received by it except as the Trustee may agree
in writing with the Company. Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law. 

Section 502 Certain Rights
of Trustee. 

Subject to Section 315(a)
through Section 315(d) of the Trust Indenture Act: 

(1) the Trustee may conclusively
rely and will be 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 reasonably believed by it to be genuine
and to have been signed or presented by the proper party or parties; 

38 

(2) any request or direction of
the Company mentioned herein will be sufficiently evidenced by a Company Request
or a Company Order (unless other evidence in respect therof be herein
specifically prescribed) and any resolution of the Board of Directors may be
sufficiently evidenced by a Board Resolution; 

(3) whenever in the
administration of this Indenture the Trustee will deem it desirable that a
matter be proved or established prior to taking, suffering or omitting any
action hereunder, the Trustee (unless other evidence will be herein specifically
prescribed) may, in the absence of bad faith on its part, rely upon an Officers’
Certificate or Opinion of Counsel, or both, which will comply with Section 102;

(4) before the Trustee acts or
refrains from acting, it may require an Officers’ Certificate or an Opinion of
Counsel or both. The Trustee will not be liable for any action it takes or omits
to take in good faith in reliance on such Officers’ Certificate or Opinion of
Counsel. The Trustee may consult with counsel and the written advice of such
counsel or any Opinion of Counsel will be full and complete authorization and
protection from liability in respect of any action taken, suffered or omitted by
it hereunder in good faith and in reliance thereon. The Trustee may act through
its attorneys and agents and will not be responsible for the misconduct or
negligence of any agent appointed with due care. 

(5) the Trustee will be under no
obligation to exercise any of the rights or powers vested in it by or under this
Indenture at the request or direction of any Holder(s) under this Indenture,
unless such Holder(s) will have offered to the Trustee security or indemnity
satisfactory to the Trustee against the costs, expenses and liabilities that
might be incurred by it in compliance with such request or direction;

(6) the Trustee will 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 will determine to make such further inquiry or investigation, it
will be entitled to examine, during business hours and upon reasonable notice,
the books, records and premises of the Company, personally or by agent or
attorney, at the sole cost of the Company and will incur no liability or
additional liability of any kind by reason of such inquiry or investigation;

(7) 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 will not be
responsible for any misconduct or negligence on the part of any agent or
attorney appointed with due care by it hereunder; 

(8) the Trustee will 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; 

(9) in no event will the Trustee
be responsible or liable for special, indirect 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;

39 

(10) The Trustee will not be
required to take notice or be deemed to have notice of any Event of Default,
except failure by the Company to pay or cause to be made any of the payments
required to be made to the Trustee, unless a Responsible Officer will be
specifically notified by a writing of such default by the Company or by the
Holders of at least [●]% in aggregate
principal amount of the then Outstanding Subordinated Notes delivered to the
Corporate Trust Office of the Trustee and in the absence of such notice so
delivered the Trustee may conclusively assume no Event of Default exists;

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

(12) 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 under this
Indenture. 

Section 503 Notice of
Defaults. 

Within 90 days after the
Trustee is notified of the occurrence of any default hereunder with respect to
the Subordinated Notes, the Trustee will transmit by mail to all Holders
entitled to receive reports in accordance with Section 603(3), notice of such
default hereunder known to the Trustee, unless such default will have been cured
or waived; provided, however, that, except in the case of a default in the
payment of the principal of or interest, if any, on, any Subordinated Note, the
Trustee will be protected in withholding such notice if and so long as the Board
of Directors and/or Responsible Officers of the Trustee in good faith determine
that the withholding of such notice is in the best interest of the Holders. For
the purpose of this Section, the term “default” means any event that is, or
after notice or lapse of time or both would become, an Event of Default with
respect to Subordinated Notes. 

Section 504 Not Responsible
for Recitals or Issuance of Subordinated Notes. 

The recitals contained
herein and in the Subordinated Notes, except the Trustee’s certificate of
authentication, will 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 validity or
sufficiency of this Indenture or of the Subordinated Notes, except that the
Trustee represents that it is duly authorized to execute and deliver this
Indenture, authenticate the Subordinated Notes and perform its obligations
hereunder and that the statements made by it in any Statement of Eligibility on
Form T-1 supplied to the Company are true and accurate, subject to the
qualifications set forth therein. Neither the Trustee nor any Authenticating
Agent will be accountable for the use or application by the Company of the
Subordinated Notes or the proceeds thereof. The Trustee will not be responsible
for and makes no representation as to the validity or adequacy of this Indenture
or the Subordinated Notes, it will not be accountable for the Company’s use of
the proceeds from the Subordinated Notes or any money paid to the Company or
upon the Company’s direction under any provision hereof, it will not be
responsible for the use or application of any money received by any Paying Agent
other than the Trustee, and it will not be responsible for any statement or
recital herein or any statement in the Subordinated Notes or any other document
in connection with the sale of the Subordinated Notes or under this Indenture
other than its certificate of authentication.

40 

Section 505 May Hold
Subordinated Notes. 

The Trustee, any
Authenticating Agent, any Paying Agent, any Registrar or any other Person that
may be an agent of the Trustee or the Company, in its individual or any other
capacity, may become the owner or pledgee of Subordinated Notes and, subject to
Section 310(b) and Section 311 of the Trust Indenture Act, may otherwise deal
with the Company with the same rights that it would have if it were not Trustee,
Authenticating Agent, Paying Agent, Registrar or such other Person. 

Section 506 Money Held in
Trust. 

Except as provided in
Section 302(5), Section 303 and Section 903, money held by the Trustee in trust
hereunder need not be segregated from other funds except to the extent required
by law and will be held uninvested. The Trustee will be under no liability for
interest on any money received by it hereunder except as otherwise agreed in
writing with the Company. 

Section 507 Compensation
and Reimbursement. 

The Company agrees:

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

(2) except as otherwise expressly
provided herein, to reimburse the Trustee upon its request for all reasonable
expenses, disbursements and advances incurred or made by the Trustee in
accordance with any provision of this Indenture (including the reasonable
compensation and the expenses and disbursements of its agents and counsel),
except any such expense, disbursement or advance as may be attributable to the
Trustee’s negligence or bad faith; and 

(3) to indemnify each of the
Trustee or any predecessor Trustee and their agents for, and to hold them
harmless against, any loss, liability or expense (including, without limitation,
the reasonable fees and disbursements of the Trustee’s agents, legal counsel,
accountants and experts) and including taxes (other than taxes based upon,
measured by or determined by the income of the Trustee), arising out of or in
connection with the acceptance or administration of its duties hereunder,
including the costs and expenses of enforcing this Indenture against the Company
(including this Section 507) and defending itself against any claim (whether
asserted by the Company, or any Holder or any other Person) or liability in
connection with the exercise or performance of any of their powers or duties
hereunder, or in connection with enforcing the provisions of this Section,
except to the extent that any such loss, liability or expense was due to the
Trustee’s negligence or bad faith. 

41 

The obligations of the
Company under this Section 507 will survive the satisfaction and discharge of
this Indenture. 

As security for the
performance of the obligations of the Company under this Section, the Trustee
will have a lien prior to the Subordinated Notes upon all property and funds
held or collected by the Trustee as such, except funds held in trust for the
payment of principal of, or interest on. Subordinated Notes. Such lien will
survive the satisfaction and discharge hereof. 

Any compensation or expense
incurred by the Trustee after a default specified by Section 401 is intended to
constitute an expense of administration under any then applicable bankruptcy or
insolvency law. “Trustee” for purposes of this Section 507 will include any
predecessor Trustee, but the negligence or bad faith of any Trustee will not
affect the rights of any other Trustee under this Section 507. The provisions of
this Section 507 will, to the extent permitted by law, survive any termination
of this Indenture (including, without limitation, termination in accordance with
any Bankruptcy Laws) and the resignation or removal of the Trustee. 

Section 508 Corporate
Trustee Required; Eligibility.

(1) There will at all times be a
Trustee hereunder that is a corporation, organized and doing business under the
laws of the United States, any state thereof or the District of Columbia,
eligible under Section 310(a)(1) of the Trust Indenture Act to act as trustee
under an indenture qualified under the Trust Indenture Act and that has a
combined capital and surplus (computed in accordance with Section 310(a)(2) of
the Trust Indenture Act) of at least $50,000,000 and is subject to supervision
or examination by federal or state authority. The Trustee will also satisfy the
requirements of Section 310(a)(5) of the Trust Indenture Act. If at any time the
Trustee will cease to be eligible in accordance with the provisions of this
Section, it will resign immediately in the manner and with the effect
hereinafter specified in this Article, 

(2) The Trustee will comply with
Section 310(b) of the Trust Indenture Act; provided, however, that there will be
excluded from the operation of Section 310(b)(1) of the Trust Indenture Act this
Indenture or any indenture or indentures under which other securities or
certificates of interest or participation in other securities of the Company are
outstanding if the requirements for such exclusion set forth in Section
310(b)(1) of the Trust Indenture Act are met. 

Section 509 Resignation and
Removal; Appointment of Successor. 

(1) No resignation or removal of
the Trustee and no appointment of a successor Trustee in accordance with this
Article V will become effective until the acceptance of appointment by the
successor Trustee in accordance with Section 510. 

(2) The Trustee may resign at any
time with respect to the Subordinated Notes by giving written notice thereof to
the Company. If the instrument of acceptance by a successor Trustee required by
Section 510 will not have been delivered to the Trustee within 30 days after the
giving of such notice of resignation, the resigning Trustee may, at the
Company’s expense, petition any court of competent jurisdiction for the
appointment of a successor Trustee. 

42 

(3) The Trustee may be removed at
any time with respect to the Subordinated Notes by Act of the Holders of a
majority in principal amount of the Outstanding Subordinated Notes, delivered to
the Trustee and the Company. 

If at any time: 

(a) the Trustee will fail to
comply with the obligations imposed upon it under Section 310(b) of the Trust
Indenture Act with respect to Subordinated Notes after written request therefor
by the Company or any Holder who has been a bona fide Holder for at least six
months, 

(b) the Trustee will cease to be
eligible under Section 508 and will fail to resign after written request
therefor by the Company or any such Holder, or 

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

then, in any such case, (i)
the Company, by or in accordance with a Board Resolution, may remove the Trustee
with respect to the Subordinated Notes, or (ii) subject to Section 315(e) of the
Trust Indenture Act, any Holder who has been a bona fide Holder for at least six
months may, on behalf of himself and all others similarly situated, petition any
court of competent jurisdiction for the removal of the Trustee with respect to
all Subordinated Notes and the appointment of a successor Trustee or Trustees.

(4) If the Trustee will resign,
be removed or become incapable of acting, or if a vacancy will occur in the
office of Trustee for any cause, with respect to the Subordinated Notes, the
Company, by or in accordance with a Board Resolution, will promptly appoint a
successor Trustee or Trustees with respect to the Subordinated Notes and will
comply with the applicable requirements of Section 510. If, within one year
after such resignation, removal or incapability, or the occurrence of such
vacancy, a successor Trustee with respect to the Subordinated Notes will be
appointed by Act of the Holders of a majority in principal amount of the
Outstanding Subordinated Notes delivered to the Company and the retiring
Trustee, the successor Trustee so appointed will, forthwith upon its acceptance
of such appointment in accordance with the applicable requirements of Section
510, become the successor Trustee with respect to the Subordinated Notes and to
that extent supersede the successor Trustee appointed by the Company. If no
successor Trustee with respect to the Subordinated Notes will have been so
appointed by the Company or the Holders and accepted appointment in the manner
required by Section 510, any Holder who has been a bona fide Holder for at least
six months may, on behalf of himself and all others similarly situated, petition
any court of competent jurisdiction for the appointment of a successor Trustee
with respect to the Subordinated Notes. 

(5) The Company will give notice
of each resignation and each removal of the Trustee with respect to the
Subordinated Notes and each appointment of a successor Trustee with respect to
the Subordinated Notes by mailing written notice of such event by first-class
mail, postage prepaid, to the Holders as their names and addresses appear in the
Subordinated Note Register. Each notice will include the name of the successor
Trustee with respect to the Subordinated Notes and the address of its Corporate
Trust Office.

43 

Section 510 Acceptance of
Appointment by Successor.

(1) Upon the appointment
hereunder of any successor Trustee with respect to all Subordinated Notes, such
successor Trustee so appointed will execute, acknowledge and deliver to the
Company and the retiring Trustee an instrument accepting such appointment, and
thereupon the resignation or removal of the retiring Trustee will become
effective and such successor Trustee, without any further act, deed or
conveyance, will become vested with all the rights, powers, trusts and duties
hereunder of the retiring Trustee; but, on the request of the Company or such
successor Trustee, such retiring Trustee, upon payment of its charges, will
execute and deliver an instrument transferring to such successor Trustee all the
rights, powers and trusts of the retiring Trustee and, subject to Section 903,
will duly assign, transfer and deliver to such successor Trustee all property
and money held by such retiring Trustee hereunder, subject nevertheless to its
claim, if any, provided for in Section 507. 

(2) Upon the appointment
hereunder of any successor Trustee with respect to the Subordinated Notes, the
Company, the retiring Trustee and such successor Trustee will execute and
deliver an indenture supplemental hereto wherein each successor Trustee will
accept such appointment and which (i) will contain such provisions as will be
necessary or desirable to transfer and confirm to, and to vest in. such
successor Trustee all the rights, powers, trusts and duties of the retiring
Trustee with respect to the Subordinated Notes, (ii) if the retiring Trustee is
not retiring with respect to all Subordinated Notes, will contain such
provisions as will be deemed necessary or desirable to confirm that all the
rights, powers, trusts and duties of the retiring Trustee with respect to the
Subordinated Notes will continue to be vested in the retiring Trustee, and (iii)
will add to or change any of the provisions of this Indenture as will be
necessary to provide for or facilitate the administration of the trusts
hereunder by more than one Trustee, it being understood that nothing herein or
in such supplemental indenture will constitute such Trustees co-trustees of the
same trust, that each such Trustee will be trustee of a trust or trusts
hereunder separate and apart from any trust or trusts hereunder administered by
any other such Trustee and that no Trustee will be responsible for any notice
given to, or received by, or any act or failure to act on the part of any other
Trustee hereunder, and, upon the execution and delivery of such supplemental
indenture, the resignation or removal of the retiring Trustee will become
effective to the extent provided therein, such retiring Trustee will have no
further responsibility for the exercise of rights and powers or for the
performance of the duties and obligations vested in the Trustee under this
Indenture with respect to the Subordinated Notes other than as hereinafter
expressly set forth, and such successor Trustee, without any further act, deed
or conveyance, will become vested with all the rights, powers, trusts and duties
of the retiring Trustee with respect to the Subordinated Notes; but, on request
of the Company or such successor Trustee, such retiring Trustee, upon payment of
its charges with respect to the Subordinated Notes and subject to Section 903
will duly assign, transfer and deliver to such successor Trustee, to the extent
contemplated by such supplemental indenture, the property and money held by such
retiring Trustee hereunder with respect to the Subordinated Notes, subject to
its claim, if any, provided for in Section 507. 

(3) Upon request of any Person
appointed hereunder as a successor Trustee, the Company will execute any and all
instruments for more fully and certainly vesting in and confirming to such
successor Trustee all such rights, powers and trusts referred to in paragraph
(1) or (2) of this Section, as the case may be.

44 

(4) No Person will accept its
appointment hereunder as a successor Trustee unless at the time of such
acceptance such successor Person will be qualified and eligible under this
Article. 

Section 511 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 will be a party, or any corporation succeeding to all or
substantially all of the corporate trust business of the Trustee, will be the
successor of the Trustee hereunder (provided that such corporation will
otherwise be qualified and eligible under this Article), without the execution
or filing of any paper or any further act on the part of any of the parties
hereto. In case any Subordinated Notes will have been authenticated but not
delivered by the Trustee then in office, any such successor to such
authenticating Trustee may adopt such authentication and deliver the
Subordinated Notes so authenticated with the same effect as if such successor
Trustee had itself authenticated such Subordinated Notes. In case any
Subordinated Notes will not have been authenticated by such predecessor Trustee,
any such successor Trustee may authenticate and deliver such Subordinated Notes
in either its own name or that of its predecessor Trustee. 

Section 512 Appointment of
Authenticating Agent. 

The Trustee may appoint one
or more Authenticating Agents acceptable to the Company with respect to the
Subordinated Notes which will be authorized to act on behalf of the Trustee to
authenticate Subordinated Notes issued upon original issue, exchange,
registration of transfer, partial redemption, partial repayment, or in
accordance with Section 209, and Subordinated Notes so authenticated will be
entitled to the benefits of this Indenture and will 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 Subordinated Notes
by the Trustee or the Trustee’s certificate of authentication, such reference
will 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
will be reasonably acceptable to the Company and, except as provided in or under
this Indenture, will at all times be a corporation that would be permitted by
the Trust Indenture Act to act as trustee under an indenture qualified under the
Trust Indenture Act, is authorized under applicable law and by its charter to
act as an Authenticating Agent and has a combined capital and surplus (computed
in accordance with Section 310(a)(2) of the Trust Indenture Act) of at least
$[●] and is subject to supervision or examination by federal or state
authority. If at any time an Authenticating Agent will cease to be eligible in
accordance with the provisions of this Section, it will resign immediately in
the manner and with the effect specified in this Section. 

45 

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 will be a party, or any
corporation succeeding to all or substantially all of the corporate agency or
corporate trust business of an Authenticating Agent, will be the successor of
such Authenticating Agent hereunder, provided such corporation will 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 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 the Company. Upon receiving such a notice of
resignation or upon such a termination, or in case at any time such
Authenticating Agent will cease to be eligible in accordance with the provisions
of this Section, the Trustee may appoint a successor Authenticating Agent that
will be acceptable to the Company and will mail written notice of such
appointment by first-class mail, postage prepaid, to all Holders with respect to
which such Authenticating Agent will serve, as their names and addresses appear
in the Subordinated Note Register. Any successor Authenticating Agent, upon
acceptance of its appointment hereunder, will 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
will be appointed unless eligible under the provisions of this Section 512.

The Company agrees to pay
each Authenticating Agent from time to time reasonable compensation for its
services under this Section. If the Trustee makes such payments, it will be
entitled to be reimbursed for such payments, subject to the provisions of
Section 507. 

The provisions of Section
211, Section 504 and Section 505 will be applicable to each Authenticating
Agent. 

If an Authenticating Agent
is appointed under this Section, the Subordinated Notes may have endorsed
thereon, in addition to or in lieu of the Trustee’s certificate of
authentication, an alternate certificate of authentication in substantially the
following form: 

This is one of the
Subordinated Notes designated herein referred to in the within-mentioned
Indenture. 

	 
 	 
	As
    Trustee	       

	By:      
    		
		As Authenticating
      Agent	       

	By:	 
	Name: 
      	 
	Title:	 

46 

Section 513 Preferred
Collection of Claims against Company. 

If and when the Trustee
will be or become a creditor of the Company (or any other obligor upon the
Subordinated Notes), the Trustee will be subject to the provisions of the Trust
Indenture Act regarding the collection of claims against the Company (or any
such other obligor). 

ARTICLE
VI 
HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY

Section 601 Holder
Lists. 

The Trustee will preserve
in as current a form as is reasonably practicable the most recent list available
to it of the names and addresses of the Holders. If the Trustee is not the
Registrar, the Company will cause to be furnished to the Trustee at least
semiannually on January 1 and July 1 a listing of the Holders dated within 10
days of the date on which the list is furnished and at such other times as the
Trustee may request in writing a list in such form and as of such date as the
Trustee may reasonably require of the names and addresses of the Holders.

Section 602 Preservation of
Information; Communications to Holders. 

The Trustee will comply
with the obligations imposed upon it in accordance with Section 312 of the Trust
Indenture Act. 

Every Holder of
Subordinated Notes, by receiving and holding the same, agrees with the Company
and the Trustee that neither the Company, the Trustee, any Paying Agent or any
Registrar will be held accountable by reason of the disclosure of any such
information as to the names and addresses of the Holders of Subordinated Notes
in accordance with Section 312(c) of the Trust Indenture Act, regardless of the
source from which such information was derived, and that the Trustee will not be
held accountable by reason of mailing any material in accordance with a request
made under Section 312(b) of the Trust Indenture Act. 

Section 603 Reports by
Trustee. 

(1) Within 60 days after July 15
of each year commencing with the first July 15 following the date of this
Indenture, if required by Section 313(a) of the Trust Indenture Act, the Trustee
will transmit, in accordance with Section 313(c) of the Trust Indenture Act, a
brief report dated as of such July 15 with respect to any of the events
specified in said Section 313(a) and Section 313(b)(2) that may have occurred
since the later of the immediately preceding July 15 and the date of this
Indenture. 

(2) The Trustee will transmit the
reports required by Section 313(a) of the Trust Indenture Act at the times
specified therein. 

(3) Reports under this Section
will be transmitted in the manner and to the Persons required by Section 313(c)
and Section 313(d) of the Trust Indenture Act. 

47 

Section 604 Reports by
Company. 

(1) The Company, in accordance with Section 314(a) of the Trust Indenture Act, will: 
(a) file with the Trustee, within 15 days after the Company files the same with the Commission, copies of the annual reports and of the information, documents and other reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company may be required to file with the Commission in accordance with Section 13 or Section 15(d) of the Exchange Act; or, if the Company is not required to file information, documents or reports in accordance with either of said Sections, then it will file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports that may be required in accordance with Section 13 of the Exchange Act in respect of a security listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; 
(b) file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such additional certificates, information, documents and reports with respect to compliance by the Company, with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations; and 
(c) transmit to the Holders within 30 days after the filing thereof with the Trustee, in the manner and to the extent provided in Section 313(c) of the Trust Indenture Act, such summaries of any information, documents and reports required to be filed by the Company in accordance with paragraphs (1) and (2) of this Section as may be required by rules and regulations prescribed from time to time by the Commission. Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such will 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). 
(2) The Company intends to file the reports referred to in Section 604(1) with the Commission in electronic form in accordance with Regulation S-T of the Commission using the Commission’s Electronic Data Gathering, Analysis and Retrieval system. Compliance with the foregoing, or any successor electronic system approved by the Commission, will constitute delivery by the Company of such reports to the Trustee and Holders in compliance with the provision of Section 604( 1) and Trust Indenture Act Section 314(a). Notwithstanding anything to the contrary herein, the Trustee will have no duty to search for or obtain any electronic or other filings that the Company makes with the Commission, regardless of whether such filings are periodic, supplemental or otherwise. Delivery of the reports, information and documents to the Trustee in accordance with this Section 604(2) will be solely for the purposes of compliance with this Section 604(2) and with Trust Indenture Act Section 314(a). The Trustee’s receipt of such reports, information and documents is for informational purposes only and the Trustee’s receipt of such will 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). 

48 

ARTICLE
VII 
SUCCESSORS

Section 701 Merger,
Consolidation or Sale of All or Substantially All Assets. 

The Company will not, in
any transaction or series of related transactions, consolidate with or merge
into any Person or sell, assign, transfer, lease or otherwise convey all or
substantially all its properties and assets to any Person, unless: 

(1) either the Company will be
the continuing Person (in the case of a merger), or the successor Person (if
other than the Company) formed by such consolidation or into which the Company
is merged or which acquires by sale, assignment, transfer, lease or other
conveyance all or substantially all the properties and assets of the Company
will be a corporation organized and existing under the laws of the United
States, any state thereof or the District of Columbia and will expressly assume,
by an indenture (or indentures, if at such time there is more than one Trustee)
supplemental hereto, executed by such successor corporation and delivered to the
Trustee, in form satisfactory to the Trustee, the due and punctual payment of
the principal of, and interest on, all the Outstanding Subordinated Notes and
the due and punctual performance and observance of every obligation in this
Indenture and the Outstanding Subordinated Notes on the part of the Company to
be performed or observed; 

(2) immediately after giving
effect to such transaction and treating any indebtedness that becomes an
obligation of the Company or any Subsidiary as a result of that transaction as
having been incurred by the Company or any Subsidiary at the time of the
transaction, no Event of Default, and no event which, after notice or lapse of
time, or both, would become an Event of Default, will have occurred and be
continuing; and 

(3) either the Company or the
successor Person will have delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel, each stating that such consolidation, merger, sale,
assignment, transfer, lease or other conveyance and, if a supplemental indenture
is required in connection with such transaction, such supplemental indenture
comply with this Article VII and that all conditions precedent herein provided
for relating to such transaction have been complied with. 

For purposes of the
foregoing, any sale, assignment, transfer. lease or other conveyance of all or
any of the properties and assets of one or more Subsidiaries of the Company
(other than to the Company or another Subsidiary), which, if such properties and
assets were directly owned by the Company, would constitute all or substantially
all of the Company’s properties and assets, will be deemed to be the transfer of
all or substantially all of the properties and assets of the Company.

Section 702 Successor
Person Substituted for Company.

Upon any consolidation by
the Company with or merger of the Company into any other Person or any sale,
assignment, transfer, lease or conveyance of all or substantially all of the
properties and assets of the Company to any Person in accordance with Section
701, the successor Person formed by such consolidation or into which the Company
is merged or to which such sale, assignment, transfer, lease or other conveyance
is made will succeed to, and be substituted for, and may exercise every right
and power of, the Company under this Indenture with the same effect as if such
successor Person had been named as the Company herein; and thereafter, except in
the case of a lease, the predecessor Person will be released from all
obligations and covenants under this Indenture and the Subordinated
Notes.

49 

ARTICLE
VIII 
SUPPLEMENTAL INDENTURES 

Section 801 Supplemental
Indentures without Consent of Holders. 

Without the consent of any
Holders of Subordinated Notes, the Company (when authorized by or in accordance
with a Board Resolution) and the Trustee, at any time and from time to time, may
enter into one or more indentures supplemental hereto, in form satisfactory to
the Trustee, for any of the following purposes: 

(1) to evidence the succession of
another Person to the Company, and the assumption by any such successor of the
covenants of the Company contained herein and in the Subordinated Notes;

(2) to add to the covenants of
the Company for the benefit of the Holders (as will be specified in such
supplemental indenture or indentures) or to surrender any right or power herein
conferred upon the Company with respect to the Subordinated Notes issued under
this Indenture (as will be specified in such supplemental indenture or
indentures); 

(3) to permit or facilitate the
issuance of Subordinated Notes in uncertificated or global form, provided any
such action will not adversely affect the interests of the Holders; 

(4) to evidence and provide for
the acceptance of appointment hereunder by a successor Trustee with respect to
the Subordinated Notes and to add to or change any of the provisions of this
Indenture as will be necessary to provide for or facilitate the administration
of the trusts hereunder by more than one Trustee, in accordance with the
requirements of Section 510; 

(5) to cure any ambiguity or to
correct or supplement any provision herein that may be defective or that may be
inconsistent with any other provision herein; 

(6) to make any other provisions
with respect to matters or questions arising under this Indenture that will not
adversely affect the interests of the Holders of then Outstanding Subordinated
Notes; 

(7) to add any additional Events
of Default (as will be specified in such supplemental indenture); 

(8) to supplement any of the
provisions of this Indenture to such extent as will be necessary to permit or
facilitate the Legal Defeasance, Covenant Defeasance and/or satisfaction and
discharge of the Subordinated Notes in accordance with Article III, provided
that any such action will not adversely affect the interests of any Holder;

(9) to provide for the issuance
of Exchange Notes; 

50 

(10) to conform any provision in this Indenture to the requirements of the Trust Indenture Act; or 
(11) to make any change that does not adversely affect the legal rights under this Indenture of any Holder. 
Section 802 Supplemental Indentures with Consent of Holders. 
With the consent of the Holders of not less than a majority in principal amount of the Outstanding Subordinated Notes, by Act of said Holders delivered to the Company and the Trustee, the Company (when authorized by or in accordance with a Board Resolution), and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of the Subordinated Notes or of modifying in any manner the rights of the Holders under this Indenture; provided, that no such supplemental indenture, without the consent of the Holder of each Outstanding Subordinated Note affected thereby, will 
(1) reduce the rate of or change the time for payment of interest, including Defaulted Interest, on any Subordinated Notes; 
(2) reduce the principal of or change the Stated Maturity of any Subordinated Notes, or change the date on which any Subordinated Notes may be subject to redemption or reduce the Redemption Price therefore; 
(3) make any Subordinated Note payable in money other than Dollars; 
(4) make any change in provisions of this Indenture protecting the right of each Holder to receive payment of principal of and interest on such Subordinated Note on or after the due date thereof or to bring suit to enforce such payment, 
(5) reduce the percentage in principal amount of the Outstanding Subordinated Notes, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences) provided for in Section 412 or Section 906 of this Indenture, or 
(6) modify any of the provisions of this Section 802, Section 412 or Section 906, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Subordinated Note affected thereby. 
It will not be necessary for any Act of Holders under this Section 802 to approve the particular form of any proposed supplemental indenture, but it will be sufficient if such Act will approve the substance thereof. 
51 

Section 803 Execution of Supplemental Indentures. 

As a condition to
executing, or accepting the additional trusts created by, any supplemental
indenture permitted by this Article VIII or the modifications thereby of the
trust created by this Indenture, the Trustee will be entitled to receive, and
(subject to Section 501) will be fully protected in relying upon, an Officers’
Certificate and an Opinion of Counsel to the effect that the execution of such
supplemental indenture is authorized or permitted by this Indenture and that
such supplemental indenture has been duly authorized, executed and delivered by,
and is a valid, binding and enforceable obligation of, the Company, subject to
customary exceptions. The Trustee may, but will not be obligated to, enter into
any such supplemental indenture which affects the Trustee’s own rights, duties
or immunities under this Indenture or otherwise. 

Section 804 Effect of
Supplemental Indentures.

Upon the execution of any
supplemental indenture under this Article VIII, this Indenture will be modified
in accordance therewith, and such supplemental indenture will form a part of
this Indenture for all purposes; and every Holder theretofore or thereafter
authenticated and delivered hereunder. 

Section 805 Reference in
Subordinated Notes to Supplemental Indentures. 

Subordinated Notes
authenticated and delivered after the execution of any supplemental indenture in
accordance with this Article VIII may, and will if required by the Company, bear
a notation in form approved by the Company as to any matter provided for in such
supplemental indenture. If the Company will so determine, new Subordinated Notes
so modified as to conform, in the opinion of the Company, to any such
supplemental indenture may be prepared and executed by the Company and
authenticated and delivered by the Trustee in exchange for Outstanding
Subordinated Notes. 

Section 806 Effect on
Senior Indebtedness. 

No supplemental indenture
will directly or indirectly modify or eliminate the Subordination Provisions or
the definition of “Senior Indebtedness” applicable with respect to the
Subordinated Notes in any manner that might terminate or impair the
subordination of such Subordinated Notes to such Senior Indebtedness without the
prior written consent of each of the holders of such Senior Indebtedness,

Section 807 Conformity with
Trust Indenture Act. 

Every supplemental
indenture executed in accordance with this Article will conform to the
requirements of the Trust Indenture Act as then in effect. 

ARTICLE
IX 
COVENANTS

Section 901 Payment of
Principal and Interest.

The Company covenants and
agrees for the benefit of the Holders that it will duly and punctually pay the
principal of, and interest on, the Subordinated Notes, in accordance with the
terms thereof and this Indenture. Principal and interest will be considered paid
on the date due if the Paying Agent, if other than the Company or a Subsidiary
thereof, holds as of 11:00 a.m., [●],[●] time, on any Interest Payment Date,
an amount in immediately available funds provided by the Company that is
designated for and sufficient to pay all principal and interest then due. The
Company will pay all Additional Interest, if any, on the dates and in the
amounts set forth in the Registration Rights Agreement.

52 

If Additional Interest is
payable by the Company in accordance with the Registration Rights Agreement and
paragraph 2 of the Subordinated Notes, the Company will deliver to the Trustee a
certificate to that effect stating (i) the amount of such Additional Interest
that is payable and (ii) the date on which such Additional Interest is payable.
Unless and until a Responsible Officer of the Trustee receives such a
certificate or instruction or direction from the Holders in accordance with the
terms of this Indenture, the Trustee may assume without inquiry that no
Additional Interest is payable. The foregoing will not prejudice the rights of
the Holders with respect to their entitlement to Additional Interest as
otherwise set forth in this Indenture or the Subordinated Notes and pursuing any
action against the Company directly or otherwise directing the Trustee to take
such action in accordance with the terms of this Indenture and the Subordinated
Notes. If the Company has paid Additional Interest directly to persons entitled
to it, the Company will deliver to the Trustee a certificate setting forth the
particulars of such payment. 

Section 902 Maintenance of
Office. 

The Company will maintain
an office or agency in the Borough of Manhattan, New York, New York or the City of [●], [●] (which may be an office of the Trustee or an Affiliate of the Trustee or
Registrar) where Subordinated Notes may be surrendered for registration of
transfer or for exchange and where notices and demands to or upon the Company in
respect of the Subordinated Notes and this Indenture may be served. The Company
will give prompt written notice to the Trustee of the location, and any change
in the location, of such office or agency. If at any time the Company fails to
maintain any such required office or agency or fails to furnish the Trustee with
the address thereof, such presentations, surrenders, notices and demands may be
made or served at the Corporate Trust Office of the Trustee. 

The Company may also from
time to time designate one or more other offices or agencies where the
Subordinated Notes may be presented or surrendered for any or all such purposes
and may from time to time rescind such designations; provided that no such
designation or recission will in any manner relieve the Company of its
obligation to maintain an office or agency in Borough of Manhattan, New York,
New York or the City of [●], [●].
The Company will 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. 

The Company hereby
designates the Corporate Trust Office of the Trustee as one such office or
agency of the Company in accordance with Section 902. 

Section 903 Money for
Subordinated Notes Payments to Be Held in Trust. 

If the Company will at any
time act as its own Paying Agent, it will, on or before each due date of the
principal of, or interest on, any of the Subordinated Notes, segregate and hold
in trust for the benefit of the Persons entitled thereto a sum in Dollars
sufficient to pay the principal and interest, as the case may be, so becoming
due until such sums will be paid to such Persons or otherwise disposed of as
herein provided, and will promptly notify the Trustee of its action or failure
so to act.

53 

Whenever the Company will
have one or more Paying Agents, it will, on or prior to each due date of the
principal of, or interest on. any Subordinated Notes, deposit with any Paying
Agent a sum in Dollars sufficient to pay the principal and interest, as the case
may be, so becoming due, such sum to be held in trust for the benefit of the
Persons entitled thereto, and (unless such Paying Agent is the Trustee) the
Company will promptly notify the Trustee of its action or failure so to act.

The Company will cause each
Paying Agent other than the Trustee to execute and deliver to the Trustee an
instrument in which such Paying Agent will agree with the Trustee, subject to
the provisions of this Section that such Paying Agent will: 

(1) hold all sums held by it for
the payment of the principal of, or interest on, the Subordinated Notes in trust
for the benefit of the Persons entitled thereto until such sums will be paid to
such Persons or otherwise disposed of as provided in or under this Indenture;

(2) give the Trustee notice of
any default by the Company in the making of any payment of principal, or
interest on, the Subordinated Notes; and 

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

The Company may at any
time, for the purpose of obtaining the satisfaction and discharge of this
Indenture or for any other purpose, pay, or by Company Order direct any Paying
Agent to pay, to the Trustee all sums held in trust by the Company or such
Paying Agent, such sums to be held by the Trustee upon the same terms as those
upon which such sums were held by the Company or such Paying Agent; and, upon
such payment by any Paying Agent to the Trustee, such Paying Agent will be
released from all further liability with respect to such sums. 

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, or interest on, any Subordinated Note and remaining
unclaimed for two years after such principal or interest will have become due
and payable will be paid to the Company upon a Company Request, or (if then held
by the Company) will be discharged from such trust; and the Holder of such
Subordinated Note will thereafter, as an unsecured general creditor, look only
to the Company for payment thereof, 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, will thereupon cease; provided, however, that the Trustee or
such Paying Agent, before being required to make any such repayment, may, not
later than 30 days after the Company’s request for such repayment, at the
expense of the Company cause to be published once, in an Authorized Newspaper in
each Place of Payment or to be mailed to such Holders of Subordinated Notes, or
both, notice that such money remains unclaimed and that, after a date specified
therein, which will not be less than 30 days from the date of such publication
or mailing nor will it be earlier than two years after such principal and or
interest will have become due and payable, any unclaimed balance of such money
then remaining will be repaid to the Company. 

54 

Section 904 Corporate Existence. 
Subject to Article VII, the Company will do or cause to be done all things necessary to preserve and keep in full force and effect (i) the corporate existence of the Company, (ii) the existence (corporate or other) of each Significant Subsidiary and (iii) the rights (charter and statutory), licenses and franchises of the Company and each of its Significant Subsidiaries; provided, however, that the Company will not be required to preserve the existence (corporate or other) of any of its Significant Subsidiaries or any such right, license or franchise of the Company or any of its Significant Subsidiaries if the Board of Directors of the Company determines that the preservation thereof is no longer desirable in the conduct of the business of the Company and its Significant Subsidiaries taken as a whole and that the loss thereof will not be disadvantageous in any material respect to the Holders. 
Section 905 Maintenance of Properties. 
The Company will, and will cause each Significant Subsidiary to, cause all its properties used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that nothing in this Section will prevent the Company or any Significant Subsidiary from discontinuing the operation and maintenance of any of their respective properties if such discontinuance is, in the judgment of the Board of Directors of the Company or of any Significant Subsidiary, as the case may be desirable in the conduct of its business. 
Section 906 Waiver of Certain Covenants. 
The Company may omit in any particular instance to comply with any term, provision or condition set forth in Section 902 to Section 905, inclusive, with respect to the Subordinated Notes if before the time for such compliance the Holders of at least a majority in principal amount of the Outstanding Subordinated Notes, by Act of such Holders, either will waive such compliance in such instance or generally will have waived compliance with such term, provision or condition, but no such waiver will extend to or affect such term, provision or condition except to the extent so expressly waived, and, until such waiver will become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition will remain in full force and effect. 
Section 907 Company Statement as to Compliance. 
The Company will deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers’ Certificate covering the preceding calendar year, stating whether or not, to the best of his or her knowledge, the Company is in default in the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to notice requirements or periods of grace) and if the Company will be in default, specifying all such defaults and the nature and status thereof of which he or she may have knowledge. 
55 

ARTICLE
X 
REDEMPTION OF SECURITIES 

Section 1001 Applicability
of Article. 

(1) Except as provided in this
Section 1001, the Subordinated Notes are not subject to redemption at the option
of the Company. The Subordinated Notes are not subject to redemption at the
option of the Holders. 

(2) Subject to the receipt of any
required regulatory approvals, the Company at any time or from time to time on
or after [●] [●],
20[●] may redeem all or
a portion of the Subordinated Notes. 

(3) Subject to the receipt of any
required regulatory approvals, the Company may, at its option, redeem all, but
not a portion, of the Outstanding Subordinated Notes at any time upon an
Investment Company Event, a Tax Event or a Tier 2 Capital Event. 

(4) The Redemption Price with
respect to any redemption permitted under this Indenture will be equal to 100%
of the principal amount of the Subordinated Notes to be redeemed, plus accrued
but unpaid interest and Additional Interest, if any, thereon to, but excluding,
the Redemption Date. 

Section 1002 Election to
Redeem; Notice to Trustee.

The election of the Company
to redeem any Subordinated Notes will be evidenced by a Company Order. In case
of any redemption of less than all of the Subordinated Notes, the Company will,
at least 60 days prior to the Redemption Date fixed by the Company (unless a
shorter notice will be satisfactory to the Trustee, but in any event not less
than 45 days prior to the Redemption Date), notify the Trustee, of such
Redemption Date and of the principal amount of Subordinated Notes to be
redeemed. 

In the case of any
redemption of Subordinated Notes (i) prior to the expiration of any restriction
on such redemption provided in the terms of such Subordinated Notes or elsewhere
in this Indenture or (ii) in accordance with an election of the Company that is
subject to a condition specified in the terms of such Subordinated Notes or
elsewhere in this Indenture, the Company will furnish to the Trustee an
Officers’ Certificate evidencing compliance with such restriction or condition.

Section 1003 Selection by
Trustee of Subordinated Notes to be Redeemed. 

If less than all of the
Subordinated Notes are to the
redeemed, the particular
Subordinated Notes to be redeemed will be selected not more than 45 days prior
to the Redemption Date by the Trustee from the Outstanding Subordinated Notes
not previously called for redemption unless otherwise required by law or
applicable depositary requirements, on a pro rata basis, by lot or such method
as the Trustee will deem fair and appropriate and which may provide for the
selection for redemption of portions of the principal amount of Subordinated
Notes; provided, however, that no such partial redemption will reduce the
portion of the principal amount of a Subordinated Note not redeemed to less than
the minimum denomination for a Subordinated Note established in or under this
Indenture.

56 

The Trustee will promptly
notify the Company and the Registrar (if other than itself) in writing of the
Subordinated Notes selected for redemption and, in the case of any Subordinated
Notes selected for partial redemption, the principal amount thereof to be
redeemed. 

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

Section 1004 Notice of
Redemption. 

Notice of redemption will
be given in the manner provided in Section 105, not less than 30 nor more than
60 days prior to the Redemption Date to the Holders of Subordinated Notes to be
redeemed. Failure to give notice by mailing in the manner herein provided to the
Holder of any Subordinated Notes designated for redemption as a whole or in
part, or any defect in the notice to any such Holder, will not affect the
validity of the proceedings for the redemption of any other Subordinated Notes
or portions thereof. 

Any notice that is mailed
to the Holder of any Subordinated Notes in the manner herein provided will be
conclusively presumed to have been duly given, whether or not such Holder
receives the notice. 

All notices of redemption
will state: 

(1) the Redemption Date,

(2) the Redemption Price,

(3) if less than all Outstanding
Subordinated Notes are to be redeemed, the identification (and, in the case of
partial redemption, the principal amount) of the particular Subordinated Note or
Subordinated Notes to be redeemed, 

(4) that, in case any
Subordinated Note is to be redeemed in part only, on and after the Redemption
Date, upon surrender of such Subordinated Note, the Holder of such Subordinated
Note will receive, without charge, a new Subordinated Note or Subordinated Notes
of authorized denominations for the principal amount thereof remaining
unredeemed, 

(5) that, on the Redemption Date,
the Redemption Price will become due and payable upon each such Subordinated
Note or portion thereof to be redeemed, together (if applicable) with accrued
and unpaid interest and Additional Interest, if any, thereon (subject, if
applicable, to the provisos to the first paragraph of Section 1006), and, if
applicable, that interest thereon will cease to accrue on and after said date,

57 

(6) the place or places where
such Subordinated Notes are to be surrendered for payment of the Redemption
Price and any accrued interest pertaining thereto, and 

(7) the authority for such
redemption. 

The notice of redemption
may include the CUSIP number reference numbers of such Subordinated Notes, if
any (or any other numbers used by a Depositary to identify such Subordinated
Notes). 

Notice of redemption of
Subordinated Notes to be redeemed at the election of the Company will be given
by the Company or, at the Company’s request delivered at least 10 days before
the date such notice is to be given (unless a shorter period will be acceptable
to the Trustee), by the Trustee in the name and at the expense of the Company.

Section 1005 Deposit of
Redemption Price. 

On or prior to 11:00 am.,
[●],
[●] time, on any Redemption Date, the Company will
deposit, with respect to the Subordinated Notes called for redemption in
accordance with Section 1004, with the Trustee or with a Paying Agent (or, if
the Company is acting as its own Paying Agent, segregate and hold in trust as
provided in Section 903) an amount sufficient to pay the Redemption Price of,
and (except if the Redemption Date will be an Interest Payment Date) any accrued
interest on, all such Subordinated Notes or portions thereof which are to be
redeemed on that date. 

Section 1006 Subordinated
Notes Payable on Redemption Date.

Notice of redemption having
been given as provided above, the Subordinated Notes so to be redeemed will, on
the Redemption Date, become due and payable at the Redemption Price therein
specified, together with accrued and unpaid interest and Additional Interest, if
any, thereon and from and after such date (unless the Company will default in
the payment of the Redemption Price and accrued interest, if any) such
Subordinated Notes will cease to bear interest. Upon surrender of any such
Subordinated Note for redemption in accordance with said notice, such
Subordinated Note will be paid by the Company at the Redemption Price, together
with any accrued and unpaid interest and Additional Interest, if any, thereon to
but excluding the Redemption Date; provided, however, that installments of
interest on Subordinated Notes whose Stated Maturity is on or prior to the
Redemption Date will be payable to the Holders of such Subordinated Notes
registered as such at the close of business on the Regular Record Dates therefor
according to their terms and the provisions of Section 210. 

If any Subordinated Note
called for redemption will not be so paid upon surrender thereof for redemption,
the principal, until paid, will bear interest from the Redemption Date at the
rate prescribed therefor in the Subordinated Note or, if no rate is prescribed
therefor in the Subordinated Note, at the rate of interest, if any, borne by
such Subordinated Note, 

58 

Section 1007 Subordinated
Notes Redeemed in Part.

Any Subordinated Note which
is to be redeemed only in part will be surrendered at any office or agency for
such Subordinated Note (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) and the Company will execute and the Trustee will
authenticate and deliver to the Holder of such Subordinated Note without service
charge, a new Subordinated Note or Subordinated Notes, containing identical
terms and provisions, of any authorized denomination as requested by such Holder
in aggregate principal amount equal to and in exchange for the unredeemed
portion of the principal of the Subordinated Note so surrendered. If a Global
Subordinated Note is so surrendered, the Company will execute, and the Trustee
will authenticate and deliver to the Depositary for such Global Subordinated
Note as will be specified in the Company Order with respect thereto to the
Trustee, without service charge, a new Global Subordinated Note in a
denomination equal to and in exchange for the unredeemed portion of the
principal of the Global Subordinated Note so surrendered. 

Upon surrender of a
Subordinated Note that is redeemed in part, the Company will issue and the
Trustee will authenticate for the Holder at the expense of the Company a new
Subordinated Note equal in principal amount to the unredeemed portion of the
Note surrendered representing the same indebtedness to the extent not redeemed.
Notwithstanding anything in this Indenture to the contrary, only a Company Order
and not an Opinion of Counsel or an Officers’ Certificate of the Company is
required for the Trustee to authenticate such new Subordinated Note. 

ARTICLE
XI 
SUBORDINATION OF SECURITIES 

Section 1101 Agreement to
Subordinate. 

The Company, for itself,
its successors and assigns, covenants and agrees, and each Holder of
Subordinated Notes by the Holder’s acceptance thereof, likewise covenants and
agrees, that the payment of the principal of and interest on each and all of the
Subordinated Notes is and will be expressly subordinated in right of payment to
the prior payment in full of all Senior Indebtedness. 

Section 1102 Distribution of
Assets. 

(1) Upon any distribution of
assets of the Company upon any termination, winding up. liquidation or
reorganization of the Company, whether in bankruptcy, insolvency, reorganization
or receivership proceedings or upon an assignment for the benefit of creditors
or any other marshalling of the assets and liabilities of the Company or
otherwise (subject to the power of a court of competent jurisdiction to make
other equitable provision reflecting the rights conferred upon the Senior
Indebtedness and the holders thereof with respect to the Subordinated Notes and
the Holders thereof by a lawful plan of reorganization under applicable
bankruptcy law): 

(a) holders of all Senior
Indebtedness will first be entitled to receive payment in full in
accordance with the terms of such Senior Indebtedness of the principal thereof,
premium, if any, and the interest due thereon (including interest accruing
subsequent to the commencement of any proceeding for the bankruptcy or
reorganization of the Company under any applicable bankruptcy, insolvency or
similar law now or hereafter in effect) before the Holders of the Subordinated
Notes are entitled to receive any payment upon the principal of or interest on
indebtedness evidenced by the Subordinated Notes;

59 

(b) any payment or distribution
of assets of the Company of any kind or character, whether in cash, property or
securities, to which the Holders would be entitled except for the provisions of
this Article XI, including any such payment or distribution that may be payable
or deliverable by reason of the payment of any other indebtedness of the Company
being subordinated to the payment of the Subordinated Notes, will be paid by the
liquidating Trustee or agent or other Person making such payment or
distribution, whether a Trustee in bankruptcy, a receiver or liquidating trustee
or otherwise, directly to the holders of Senior Indebtedness or their
representative or representatives or to the trustee or trustees under any
indenture under which any instruments evidencing any of such Senior Indebtedness
may have been issued, in accordance with the priorities then existing among
holders of Senior Indebtedness for payment of the aggregate amounts remaining
unpaid on account of the principal, premium, if any, and interest (including
interest accruing subsequent to the commencement of any proceeding for the
bankruptcy or reorganization of the Company under any applicable bankruptcy,
insolvency or similar law now or hereafter in effect) on the Senior Indebtedness
held or represented by each, to the extent necessary to make payment in full of
all Senior Indebtedness remaining unpaid, after giving effect to any concurrent
payment or distribution to the holders of such Senior Indebtedness; it being
understood that if the Holders fail to file a proper claim in the form required
by any proceeding referred to in this Section 1102(1)(b) prior to 30 days before
the expiration of the time to file such claim or claims, then the holders of
Senior Indebtedness are hereby authorized to file an appropriate claim or claims
for and on behalf of the Holders, in the form required in any such proceeding;
and 

(c) in the event that,
notwithstanding the foregoing, any payment or distribution of assets of the
Company of any kind or character, whether in cash, property or securities,
including any such payment or distribution that may be payable or deliverable by
reason of the payment of any other indebtedness of the Company being subordinate
to the payment of the Subordinated Notes will be received by the Trustee or the
Holders before all Senior Indebtedness is paid in full, such payment or
distribution will be paid over to the Trustee in bankruptcy, receiver,
liquidating trustee, custodian, assignee, agent or other Person making payment
of assets of the Company for all Senior Indebtedness remaining unpaid until all
such Senior Indebtedness will have been paid in full, after giving effect to any
concurrent payment or distribution to the holders of such Senior Indebtedness,

60 

(2) Subject to the payment in
full of all Senior Indebtedness, the Holders will be subrogated to the rights of
the holders of Senior Indebtedness to receive payments or distributions of cash,
property or securities of the Company applicable to the Senior Indebtedness
until the principal of and interest on the Subordinated Notes will be paid in
full and no such payments or distributions to holders of such Senior
Indebtedness to which the Holders would be entitled except for the provisions
hereof of cash, property or securities otherwise distributable to the holders of
Senior Indebtedness will, as between the Company, its creditors, other than the
holders of Senior Indebtedness, and the Holders, be deemed to be a payment by
the Company to or on account of the Senior Indebtedness. It is understood that
the provisions of this Article XI are intended solely for the purpose of
defining the relative rights of the Holders of the Subordinated Notes, on the
one hand, and the holders of Senior Indebtedness, on the other hand. Nothing
contained in this Article XI or elsewhere in this Indenture or any supplemental indenture issued in accordance with Article VIII of this Indenture or in the Subordinated Notes is intended to or will impair, as between the Company, its creditors, other than the holders of Senior Indebtedness, and the Holders, the obligation of the Company, which is unconditional and absolute, to pay to the Holders the principal of and interest on the Subordinated Notes as and when the same will become due and payable in accordance with their terms or to affect the relative rights of the Holders and creditors of the Company, other than the holders of the Senior Indebtedness, nor, except as otherwise expressly provided in this Indenture and the Subordinated Notes with respect to the limitation on the rights of the Trustee and the Holders, to accelerate the maturity of the Subordinated Notes and pursue remedies upon such an acceleration, will anything herein or in the Subordinated Notes prevent the Trustee or any Holder from exercising all remedies otherwise permitted by applicable law upon any Event of Default under the Indenture occurring, subject to the rights, if any, under this Article XI of the holders of Senior Indebtedness, in respect of cash, property or securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to in this Article XI, the Trustee and the Holders will be entitled to rely upon any order or decree of a court of competent jurisdiction in which such termination, winding up, liquidation or reorganization proceeding is pending or upon a certificate of the liquidating trustee or agent or other Person making any distribution to the Trustee or to the Holders for the purpose of ascertaining the Persons entitled to participate in such distribution, the holders of the Senior Indebtedness and other indebtedness of the Company, the amount hereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article XI.  In the absence of any such liquidating Trustee, agent or other person, the Trustee will be entitled to rely upon a written notice by a Person representing itself to be a holder of Senior Indebtedness (or a Trustee or representative on behalf of such holder) as evidence that such Person is a holder of Senior Indebtedness (or is such a trustee or representative). If the Trustee determines, in good faith, that further evidence is required with respect to the right of any Person, as a holder of Senior Indebtedness, to participate in any payment or distribution in accordance with this Article XI, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, as to the extent to which such Person is entitled to participation in such payment or distribution, and as to other facts pertinent to the rights of such Person under this Article XI, and if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment. 
With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to observe only such of its covenants and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations with respect to the holders of Senior Indebtedness will be read into this Indenture against the Trustee. The Trustee, however, will not be deemed to owe any fiduciary duty to the holders of Senior Indebtedness by reason of the execution of this Indenture, or any other supplemental indenture entered into in accordance with Article VIII of this Indenture, and will not be liable to any such holders if it will in good faith mistakenly pay over or distribute to or on behalf of the Holders or the Company moneys or assets to which any holders of Senior Indebtedness will be entitled by virtue of this Article XI or otherwise. 
61 

Section 1103 Default With Respect to Senior Indebtedness. 
In the event and during the continuation of any default in the payment of principal of, or premium, if any, or interest on, any Senior Indebtedness, beyond any applicable grace period, or if any event of default with respect to any Senior Indebtedness will have occurred and be continuing, or would occur as a result of the payment referred to hereinafter, permitting the holders of such Senior Indebtedness (or a trustee on behalf of the holders thereof) to accelerate the maturity thereof, then, unless and until such default or event of default will have been cured or waived or will have ceased to exist, no payment or principal of or interest on the Subordinated Notes, or in respect of any retirement, purchase or other acquisition of any of the Subordinated Notes, will be made by the Company. 
Section 1104 No Impairment. 
Nothing contained in this Indenture, any other supplemental indenture entered into in accordance with Article VIII of this Indenture, or in any of the Subordinated Notes will: (i) impair, as between the Company and the Holders, the obligations of the Company, to make, or prevent the Company from making, at any time except as provided in Section 1102 and Section 1103, payments of principal of, or interest (including interest accruing subsequent to the commencement of any proceeding for the bankruptcy or reorganization of the Company under any applicable bankruptcy, insolvency, or similar law now or hereafter in effect) on, the Subordinated Notes, as and when the same will become due and payable in accordance with the terms of the Subordinated Notes; (ii) affect the relative rights of the Holders and creditors of the Company other than the holders of the Senior Indebtedness; (iii) except as otherwise expressly provided in this Indenture and the Subordinated Notes with respect to the limitation on the rights of the Trustee and the Holders, to accelerate the maturity of the Subordinated Notes and pursue remedies upon such an acceleration, prevent the Holder of any Subordinated Notes or the Trustee from exercising all remedies otherwise permitted by applicable law upon default thereunder, subject to the rights, if any, under this Article XI of the holders of Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of such remedy; or (iv) prevent the application by the Trustee or any Paying Agent of any moneys deposited with it hereunder to the payment of or on account of the principal of, or interest on, the Subordinated Notes or prevent the receipt by the Trustee or any Paying Agent of such moneys, if, prior to the third Business Day prior to such deposit, the Trustee or such Paying Agent did not have written notice of any event prohibiting the making of such deposit by the Company. 
Section 1105 Effectuation of Subordination Provisions. 
Each Holder by his acceptance of any Notes authorizes and expressly directs the Trustee on such Holder’s behalf to take such action as may be necessary or appropriate to effectuate the Subordination Provisions, and appoints the Trustee such Holder’s attorney-in-fact for such purposes, including, in the event of any termination, winding up, liquidation or reorganization of the Company (whether in bankruptcy, insolvency, receivership, reorganization or similar proceedings or upon an assignment for the benefit of creditors by the Company, a marshalling of the assets and liabilities of the Company or otherwise) tending toward the liquidation of the property and assets of the Company, the filing of a claim for the unpaid balance of the Subordinated Notes in the form required in those proceedings. 
62 

Section 1106 Notice to Trustee. 

The Company will give
prompt written notice to the Trustee of any fact known to the Company that would
prohibit the Company from making any payment to or by the Trustee in respect of
the Subordinated Notes in accordance with the provisions of this Article XI. The
Trustee will not be charged with the knowledge of the existence of any default
or event of default with respect to any Senior Indebtedness or of any other
facts that would prohibit the making of any payment to or by the Trustee unless
and until the Trustee will have received notice in writing at its Corporate
Trust Office to that effect signed by an Authorized Officer, or by a holder of
Senior Indebtedness or a Trustee or agent thereof; and prior to the receipt of
any such written notice, the Trustee will, subject to Article V of this
Indenture, be entitled to assume that no such facts exist; provided that, if the
Trustee will not have received the notice provided for in this Section 1106 at
least two Business Days prior to the date upon which, by the terms of the
Indenture, any monies will become payable for any purpose (including, without
limitation, the payment of the principal of or interest on any Subordinated
Note), then, notwithstanding anything herein to the contrary, the Trustee will
have full power and authority to receive any monies from the Company and to
apply the same to the purpose for which they were received, and will not be
affected by any notice to the contrary that may be received by it on or after
such prior date except for an acceleration of the Subordinated Notes prior to
such application. The foregoing will not apply if the Paying Agent is the
Company. The Trustee will be entitled to rely on the delivery to it of a written
notice by a Person representing himself or itself to be a holder of any Senior
Indebtedness (or a trustee on behalf of, or agent of, such holder) to establish
that such notice has been given by a holder of such Senior Indebtedness or a
trustee or agent on behalf of any such holder. 

In the event that the
Trustee determines in good faith that any evidence is required with respect to
the right of any Person as a holder of Senior Indebtedness to participate in any
payment or distribution in accordance with this Article XI, the Trustee may
request such Person to furnish evidence to the reasonable satisfaction of the
Trustee as to the amount of Senior Indebtedness held by such Person, the extent
to which such Person is entitled to participate in such payment or distribution
and any other facts pertinent to the rights of such Person under this Article XI
and, if such evidence is not furnished to the Trustee, the Trustee may defer any
payment to such Person pending such evidence being furnished to the Trustee or a
judicial determination that such Person has the right to receive such payment.

Section 1107 Trustee
Knowledge of Senior Indebtedness.

Notwithstanding the
provisions of this Article XI or any other provisions of this Indenture or any
other supplemental indenture issued in accordance with Article VIII of this
Indenture, neither the Trustee nor any Paying Agent will be charged with
knowledge of the existence of any Senior Indebtedness or of any event that would
prohibit the making of any payment of moneys to or by the Trustee or such Paying
Agent, unless and until a Responsible Officer of the Trustee or such Paying
Agent will have received written notice thereof from the Company or from the
holder of any Senior Indebtedness or from the representative of any such holder.

63 

Section 1108 Senior
Indebtedness to Trustee.

The Trustee will be
entitled to all of the rights set forth in this Article XI in respect of any
Senior Indebtedness at any time held by it in its individual capacity to the
same extent as any other holder of such Senior Indebtedness, and nothing in this
Indenture or any other supplemental indenture issued in accordance with
Article VIII of this Indenture will be construed to deprive the Trustee of any
of its rights as such holder. 

Section 1109 Subordination
Not Applicable to Trustee Compensation. 

Nothing contained in this
Article XI will apply to the claims of, or payments to, the Trustee under
Section 507 of this Indenture. 

The Trustee hereby accepts
the trusts in this Indenture upon the terms and conditions set forth herein.

[Signature Page Follows]

64 

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

	ConnectOne Bancorp,
Inc.

	 	 
	By:	 
	Name: 
      	 
	Title:	 
	 
 
	[●] 
As Trustee
      

	 

	By:	 
	Name: 
      	 
	Title:EX-4.1

 Exhibit 4.1 

BofA FINANCE LLC, 
 as Issuer 

BANK OF AMERICA CORPORATION, 
 as
Guarantor 
 and 
 THE BANK OF
NEW YORK MELLON TRUST COMPANY, N.A., 
 as Trustee 
  

 
 INDENTURE 

Dated as of August 23, 2016 
  

 
 Senior Debt
Securities 

 CROSS-REFERENCE SHEET* 

Provisions of Sections 310 through 318 of the Trust Indenture Act of 1939, as amended, and the Indenture dated as of August 23, 2016
among BofA Finance LLC, as Issuer, Bank of America Corporation, as Guarantor, and The Bank of New York Mellon Trust Company, N.A., as Trustee: 
  

 
  

			
	SECTION OF ACT	  	SECTION OF INDENTURE
		
	 310(a)(1) and (2)
	  	 7.09

	 310(a)(3) and (4)
	  	 Not applicable

	 310(b)
	  	 7.08 and 7.10

	 310(c)
	  	 Not applicable

	 311(a) and (b)
	  	 7.13

	 311(c)
	  	 Not applicable

	 312(a)
	  	 5.01 and 5.02(a)

	 312(b) and (c)
	  	 5.02(b) and (c)

	 313(a)
	  	 5.04(a)

	 313(b)(1)
	  	 Not applicable

	 313(b)(2)
	  	 5.04(b)

	 313(c)
	  	 5.04(c)

	 313(d)
	  	 5.04(d)

	 314(a)
	  	 5.03

	 314(b)
	  	 Not applicable

	 314(c)(1) and (2)
	  	 14.04

	 314(c)(3)
	  	 Not applicable

	 314(d)
	  	 Not applicable

	 314(e)
	  	 15.05

	 314(f)
	  	 Not applicable

	 315(a), (c) and (d)
	  	 7.01

	 315(b)
	  	 7.14

	 315(e)
	  	 6.14

	 316(a)(1)
	  	 6.12

	 316(a)(2)
	  	 Omitted

	 316(a) last sentence
	  	 8.04

	 316(b)
	  	 6.08

	 317(a)
	  	 6.03 and 6.04

	 317(b)
	  	 4.03(a)

	 318(a)
	  	 15.07

  

	*	This Cross-Reference Sheet is not part of the Indenture. 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	ARTICLE ONE 	  			
		
	DEFINITIONS	  			
		
	 SECTION 1.01.        Definitions.
	  	 	1	  
	 Additional Amounts
	  	 	1	  
	 Authorized Officer
	  	 	2	  
	 Board
	  	 	2	  
	 Board Resolution
	  	 	2	  
	 Business Day
	  	 	2	  
	 Capital Stock
	  	 	2	  
	 Commission
	  	 	2	  
	 Company
	  	 	2	  
	 Company Request, Company Order and Company Consent
	  	 	3	  
	 Corporate Trust Office
	  	 	3	  
	 Default
	  	 	3	  
	 Definitive Security
	  	 	3	  
	 Depositary
	  	 	3	  
	 Event of Default
	  	 	3	  
	 Exchange Act
	  	 	3	  
	 Global Security
	  	 	3	  
	 Guarantee
	  	 	4	  
	 Guarantor
	  	 	4	  
	 Holder
	  	 	4	  
	 Indenture
	  	 	4	  
	 Officer’s Certificate
	  	 	4	  
	 Opinion of Counsel
	  	 	4	  
	 Original Issue Discount Securities
	  	 	4	  
	 Outstanding
	  	 	4	  
	 Paying Agent
	  	 	5	  
	 Periodic Offering
	  	 	5	  
	 Person
	  	 	5	  
	 Place of Payment
	  	 	6	  
	 Principal Subsidiary Bank
	  	 	6	  
	 Record Date
	  	 	6	  
	 Reference Asset
	  	 	6	  
	 Responsible Officer
	  	 	6	  
	 Securities
	  	 	6	  
	 Securities Act
	  	 	6	  
	 Security Register and Security Registrar
	  	 	7	  
	 Subsidiary Bank
	  	 	7	  
	 Trust Indenture Act
	  	 	7	  
	 Trustee
	  	 	7	  
	 U.S. Dollar, US$ or $
	  	 	7	  
	 U.S. Government Obligations
	  	 	7	  
	 United States Alien
	  	 	7	  
	 Vice President
	  	 	8	  
	 Wholly Owned Subsidiary
	  	 	8	  

  
 -i- 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	
	 ARTICLE TWO
	   

	
	 ISSUE, EXECUTION, REGISTRATION AND EXCHANGE OF
SECURITIES
	   

			
	 SECTION 2.01.
	  	Amount Unlimited; Issuable in Series	  	 	8	  
	 SECTION 2.02.
	  	 Trustee’s Certificate of Authentication
	  	 	8	  
	 SECTION 2.03.
	  	 Form of Securities Generally; Establishment of Terms of Series
	  	 	9	  
	 SECTION 2.04.
	  	 Global Securities
	  	 	12	  
	 SECTION 2.05.
	  	 Denominations; Record Date; Payment of Interest
	  	 	12	  
	 SECTION 2.06.
	  	 Execution, Authentication, Delivery and Dating of Securities
	  	 	13	  
	 SECTION 2.07.
	  	 Exchange and Registration of Transfer of Securities
	  	 	15	  
	 SECTION 2.08.
	  	 Temporary Securities
	  	 	17	  
	 SECTION 2.09.
	  	 Mutilated, Destroyed, Lost or Stolen Securities
	  	 	17	  
	 SECTION 2.10.
	  	 Cancellation
	  	 	18	  
	 SECTION 2.11.
	  	 Book-Entry Only System
	  	 	18	  
	SECTION 2.12.	  	Security Identification Numbers	  	 	19	  
	
	 ARTICLE THREE
	   

	
	 REDEMPTION OF SECURITIES; REPAYMENT AT THE OPTION OF
HOLDERS
	   

			
	 SECTION 3.01.
	  	 Redemption of Securities; Applicability of Section
	  	 	19	  
	 SECTION 3.02.
	  	 Notice of Redemption; Selection of Securities
	  	 	19	  
	 SECTION 3.03.
	  	 Payment of Securities Called for Redemption
	  	 	20	  
	 SECTION 3.04.
	  	 Redemption Suspended During Event of Default
	  	 	21	  
	SECTION 3.05.	  	Repayment at the Option of Holders	  	 	21	  
	
	 ARTICLE FOUR
	   

	
	 PARTICULAR COVENANTS OF THE COMPANY AND THE
GUARANTOR
	   

			
	 SECTION 4.01.
	  	 Payment of Principal, Premium and Interest
	  	 	22	  
	 SECTION 4.02.
	  	 Offices for Notices and Payments, etc.
	  	 	22	  
	 SECTION 4.03.
	  	 Provisions as to Paying Agent
	  	 	23	  
	 SECTION 4.04.
	  	 Statement as to Compliance
	  	 	24	  
	 SECTION 4.05.
	  	 Waiver of Covenants
	  	 	24	  
	 SECTION 4.06.
	  	 Limitation on Sale or Issuance of Capital Stock of Principal Subsidiary Bank
	  	 	25	  
	 SECTION 4.07.
	  	 Notice of Default
	  	 	26	  
	 SECTION 4.08.
	  	 Determination of Additional Amounts
	  	 	26	  
	SECTION 4.09.	  	Tax Matters	  	 	26	  
	
	 ARTICLE FIVE
	   

	
	 SECURITYHOLDER LISTS AND REPORTS BY THE COMPANY, THE
GUARANTOR AND THE TRUSTEE
	   

			
	 SECTION 5.01.
	  	 Securityholder Lists
	  	 	26	  
	 SECTION 5.02.
	  	 Preservation and Disclosure of Lists; Communications Among Holders
	  	 	26	  
	 SECTION 5.03.
	  	 Reports by the Company and the Guarantor
	  	 	27	  
	 SECTION 5.04.
	  	Reports by the Trustee	  	 	27	  

  
 -ii- 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	
	ARTICLE SIX	  
	
	REMEDIES	  
			
	 SECTION 6.01.
	  	 Events of Default; Acceleration of Maturity
	  	 	28	  
	 SECTION 6.02.
	  	 Rescission and Annulment
	  	 	29	  
	 SECTION 6.03.
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	30	  
	 SECTION 6.04.
	  	 Trustee May File Proofs of Claim
	  	 	30	  
	 SECTION 6.05.
	  	 Trustee May Enforce Claims Without Possession of Securities
	  	 	31	  
	 SECTION 6.06.
	  	 Application of Money Collected
	  	 	31	  
	 SECTION 6.07.
	  	 Limitation on Suits
	  	 	32	  
	 SECTION 6.08.
	  	 Unconditional Right of Securityholders to Receive Principal and Interest
	  	 	32	  
	 SECTION 6.09.
	  	 Restoration of Rights and Remedies
	  	 	32	  
	 SECTION 6.10.
	  	 Rights and Remedies Cumulative
	  	 	33	  
	 SECTION 6.11.
	  	 Delay or Omission Not Waiver
	  	 	33	  
	 SECTION 6.12.
	  	 Control by Securityholders
	  	 	33	  
	 SECTION 6.13.
	  	 Waiver of Past Defaults
	  	 	33	  
	 SECTION 6.14.
	  	 Undertaking for Costs
	  	 	34	  
	SECTION 6.15.	  	Waiver of Stay or Extension Laws	  	 	34	  
	
	ARTICLE SEVEN	  
	
	CONCERNING THE TRUSTEE	  
			
	 SECTION 7.01.
	  	 Duties and Responsibilities of Trustee
	  	 	34	  
	 SECTION 7.02.
	  	 Certain Rights of the Trustee
	  	 	35	  
	 SECTION 7.03.
	  	 No Responsibility for Recitals, etc.
	  	 	37	  
	 SECTION 7.04.
	  	 Ownership of Securities
	  	 	37	  
	 SECTION 7.05.
	  	 Money to be Held in Trust
	  	 	37	  
	 SECTION 7.06.
	  	 Compensation and Expenses of Trustee
	  	 	37	  
	 SECTION 7.07.
	  	 Officer’s Certificate as Evidence
	  	 	38	  
	 SECTION 7.08.
	  	 Eligibility of Trustee; Disqualification
	  	 	38	  
	 SECTION 7.09.
	  	 Resignation or Removal of Trustee
	  	 	39	  
	 SECTION 7.10.
	  	 Acceptance by Successor Trustee
	  	 	39	  
	 SECTION 7.11.
	  	 Successor by Merger, etc.
	  	 	40	  
	 SECTION 7.12.
	  	 Limitations on Rights of Trustee as Creditor
	  	 	41	  
	 SECTION 7.13.
	  	 Notice of Default
	  	 	41	  
	SECTION 7.14.	  	Appointment of Authenticating Agent	  	 	41	  
	
	ARTICLE EIGHT	  
	
	CONCERNING THE SECURITYHOLDERS	  
			
	 SECTION 8.01.
	  	 Action by Securityholders
	  	 	42	  
	 SECTION 8.02.
	  	 Proof of Execution by Securityholders
	  	 	43	  
	 SECTION 8.03.
	  	 Who Are Deemed Absolute Owners
	  	 	43	  
	 SECTION 8.04.
	  	 Company-Owned Securities Disregarded
	  	 	44	  
	 SECTION 8.05.
	  	 Revocation of Consents; Future Securityholders Bound
	  	 	44	  
	SECTION 8.06.	  	Record Date	  	 	44	  

  
 -iii- 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	
	ARTICLE NINE 	  
	
	SECURITYHOLDERS’ MEETINGS	  
			
	 SECTION 9.01.
	  	 Purposes of Meeting
	  	 	45	  
	 SECTION 9.02.
	  	 Call of Meetings by Trustee
	  	 	45	  
	 SECTION 9.03.
	  	 Call of Meetings by Company or Securityholders
	  	 	45	  
	 SECTION 9.04.
	  	 Qualifications for Voting
	  	 	45	  
	 SECTION 9.05.
	  	 Regulations
	  	 	46	  
	SECTION 9.06.	  	Voting	  	 	46	  
	
	 ARTICLE TEN 
	   

	
	 SUPPLEMENTAL INDENTURES
	   

			
	 SECTION 10.01.
	  	 Supplemental Indentures without Consent of Holders
	  	 	47	  
	 SECTION 10.02.
	  	 Supplemental Indentures with Consent of Holders
	  	 	48	  
	 SECTION 10.03.
	  	 Compliance with Trust Indenture Act; Effect of Supplemental Indentures
	  	 	49	  
	SECTION 10.04.	  	Notation on Securities	  	 	49	  
	
	ARTICLE ELEVEN	  
	
	CONSOLIDATION, MERGER, SALE OR CONVEYANCE	  
			
	 SECTION 11.01.
	  	 Company and Guarantor May Consolidate, etc., on Certain Terms
	  	 	49	  
	 SECTION 11.02.
	  	 Successor Substituted
	  	 	50	  
	SECTION 11.03.	  	Opinion of Counsel and Officer’s Certificate to Be Given Trustee	  	 	50	  
	
	 ARTICLE TWELVE
	   

	
	 SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED
MONEYS
	   

			
	 SECTION 12.01.
	  	 Discharge of Indenture
	  	 	51	  
	 SECTION 12.02.
	  	 Deposited Moneys to Be Held in Trust by Trustee
	  	 	52	  
	 SECTION 12.03.
	  	 Paying Agent to Repay Moneys Held
	  	 	52	  
	SECTION 12.04.	  	Return of Unclaimed Moneys	  	 	52	  
	
	ARTICLE THIRTEEN	  
	
	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	  
			
	SECTION 13.01.	  	Indenture and Securities Solely Corporate Obligations	  	 	52	  

  
 -iv- 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	
	ARTICLE FOURTEEN	  
	
	DEFEASANCE AND COVENANT DEFEASANCE	  
			
	 SECTION 14.01.
	  	 Applicability of Article
	  	 	52	  
	 SECTION 14.02.
	  	 Defeasance and Discharge
	  	 	53	  
	 SECTION 14.03.
	  	 Covenant Defeasance
	  	 	53	  
	 SECTION 14.04.
	  	 Conditions to Defeasance or Covenant Defeasance
	  	 	54	  
	 SECTION 14.05.
	  	 Deposited Money and U.S. Government Obligations to be Held in Trust;

Other Miscellaneous Provisions
	  	 	55	  
	 SECTION 14.06.
	  	Return of Unclaimed Moneys	  	 	55	  
	
	ARTICLE FIFTEEN	  
	
	GUARANTEE	  
			
	 SECTION 15.01.
	  	 The Guarantee
	  	 	56	  
	 SECTION 15.02.
	  	 Guarantee Unconditional
	  	 	56	  
	 SECTION 15.03.
	  	 Discharge; Reinstatement
	  	 	56	  
	 SECTION 15.04.
	  	 Waiver by the Guarantor
	  	 	57	  
	 SECTION 15.05.
	  	 Subrogation
	  	 	57	  
	 SECTION 15.06.
	  	 Stay of Acceleration
	  	 	57	  
	 SECTION 15.07.
	  	 Savings Clause
	  	 	57	  
	 SECTION 15.08.
	  	 Execution and Delivery of Guarantee
	  	 	57	  
	 SECTION 15.09.
	  	 Termination of the Guarantee Upon Merger
	  	 	58	  
	 SECTION 15.10.
	  	Release of Guarantee	  	 	58	  
	
	ARTICLE SIXTEEN	  
	
	MISCELLANEOUS PROVISIONS	  
			
	 SECTION 16.01.
	  	 Benefits of Indenture Restricted to Parties and Securityholders
	  	 	58	  
	 SECTION 16.02.
	  	 Provisions Binding on Successors
	  	 	58	  
	 SECTION 16.03.
	  	 Addresses for Notices, etc., to Company, Guarantor and Trustee
	  	 	58	  
	 SECTION 16.04.
	  	 Notice to Holders of Securities; Waiver
	  	 	59	  
	 SECTION 16.05.
	  	 Evidence of Compliance with Conditions Precedent
	  	 	59	  
	 SECTION 16.06.
	  	 Legal Holidays
	  	 	60	  
	 SECTION 16.07.
	  	 Trust Indenture Act to Control
	  	 	60	  
	 SECTION 16.08.
	  	 Execution in Counterparts
	  	 	60	  
	 SECTION 16.09.
	  	 Governing Law
	  	 	60	  
	 SECTION 16.10.
	  	 Separability Clause
	  	 	60	  
	 SECTION 16.11.
	  	 Waiver of Jury Trial
	  	 	61	  
	 SECTION 16.12.
	  	 Force Majeure
	  	 	61	  
	 SECTION 16.13.
	  	 Foreign Account Tax Compliance Act (FATCA)
	  	 	61	  

  
 -v- 

 THIS INDENTURE, dated as of August 23, 2016, by and among BofA FINANCE LLC, a Delaware
limited liability company, as Issuer (the “Company”), BANK OF AMERICA CORPORATION, a Delaware corporation, as Guarantor (the “Guarantor”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association formed
under the laws of the United States of America, as Trustee (the “Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Company has duly authorized the execution and delivery of this Indenture and the issuance from time to time of its unsecured
debentures, notes or other evidences of indebtedness (the “Securities”) in one or more series unlimited as to principal amount; 

WHEREAS, the Guarantor has duly authorized the execution and delivery of this Indenture and the terms of the guarantee of Securities as set
forth in this Indenture; and 
 WHEREAS, all acts and things necessary to make this a valid indenture and agreement of the Company and the
Guarantor according to its terms have been done and performed; 
 NOW, THEREFORE: 

In consideration of the premises and of the purchase and acceptance of the Securities by the holders thereof, the Company, the Guarantor and
the Trustee covenant and agree for the equal and proportionate benefit of the respective holders from time to time of the Securities as follows: 

ARTICLE ONE 
 DEFINITIONS 

SECTION 1.01.         Definitions. 

The terms defined in this Section (except as otherwise expressly provided or unless the context otherwise requires) for all purposes of
this Indenture and of any indenture supplemental hereto shall have the respective meanings specified in this Section. All other terms used in this Indenture that are defined in the Trust Indenture Act or that are by reference therein defined in
the Securities Act shall have the meanings (except as otherwise expressly provided or unless the context otherwise requires) assigned to such terms in the Trust Indenture Act or the Securities Act, as the case may be. All accounting terms used
herein and not expressly defined shall have the meanings assigned to such terms in accordance with U.S. generally accepted accounting principles, as are generally accepted at the time of any computation. 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. The terms defined in this Article have the meanings assigned
to them in this Article and include the plural as well as the singular. 
 Additional Amounts: 

The term “Additional Amounts” shall mean any additional amounts to be paid by the Company in respect of any Securities of a series,
as may be specified pursuant to Section 2.03(b) hereof and in such Securities and under the circumstances specified therein, in respect of specified taxes, assessments or other governmental charges imposed on certain
holders who are United States Aliens, and which may be owing to such holders as set forth in Section 4.08 hereof. 

  
 1 

 Authorized Officer: 

The term “Authorized Officer” shall mean any of the following officers of the Company or the Guarantor, as applicable: the Chief
Executive Officer, the Chairman of the Board, the President, the Chief Financial Officer, the Treasurer, the Secretary and any other officer or officers of the Company or the Guarantor, as the case may be, designated in writing by or pursuant to the
authority of the Company’s or the Guarantor’s, as the case may be, Board as an Authorized Officer. 
 Board: 

The term “Board” shall mean the Board of Directors of the Guarantor or the Board of Managers of the Company, as applicable, or any
duly authorized committee of either such Board. 
 Board Resolution: 

The term “Board Resolution” shall mean a resolution certified by the Secretary or an Assistant Secretary of the Company or the
Guarantor, as the case may be, to have been duly adopted by the Board of the Company or the Guarantor, as the case may be, or by a committee acting under authority of or appointment by either such Board and to be in full force and effect on the date
of such certification, and delivered to the Trustee. Where any provision of this Indenture refers to action taken pursuant to a Board Resolution (including the establishment of any series of Securities or of particular Securities of a series
and the forms and terms thereof), such action may be taken by any officer or employee of the Company or the Guarantor, as the case may be, authorized by a Board Resolution to take such action. 

Business Day: 
 The term
“business day” shall mean, with respect to any Security, unless otherwise specified pursuant to Section 2.03(b), any day other than a Saturday or Sunday that is not (1) a legal holiday in New York, New York or
Charlotte, North Carolina, or any other Place of Payment for such Security, and (2) a day on which banking institutions in those cities are authorized or required by law or regulation to be closed. 

Capital Stock: 
 The term
“Capital Stock” shall mean, as to shares of a particular corporation, outstanding shares of stock of any class, whether now or hereafter authorized, irrespective of whether such class shall be limited to a fixed sum or percentage in
respect of the rights of the holders thereof to participate in dividends and in the distribution of assets upon the voluntary liquidation, dissolution or winding up of such corporation. 

Commission: 
 The term
“Commission” shall mean the Securities and Exchange Commission. 
 Company: 

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

  
 2 

 Company Request, Company Order and Company Consent: 

The terms “Company Request,” “Company Order” and “Company Consent” mean, respectively, a written request, order
or consent signed in the name of the Company by any Authorized Officer of the Company and delivered to the Trustee. 
 Corporate Trust Office:

 The term “Corporate Trust Office” means the designated office or agency of the Trustee at which its corporate trust business
may be administered at any particular time, which at the date hereof is located at 10161 Centurion Parkway, N., 2nd Floor, Jacksonville, Florida 32256, Attention: Corporate Trust
Administration, or such other addresses as the Trustee may designate from time to time by notice to the holders and to the Company and the Guarantor, or the principal corporate trust office of any successor Trustee (or such other address as such
successor Trustee may designate from time to time by notice to the holders and to the Company and the Guarantor). 
 Default: 

The term “Default” or “default” shall mean any event which is, or after notice or lapse of time or both would become, an
Event of Default with respect to the affected Securities. 
 Definitive Security: 

The term “Definitive Security” shall mean any Security evidencing all or a portion of the Securities of a series issued in fully
registered certificated form (other than a Global Security). 
 Depositary: 

The term “Depositary” shall mean, with respect to the Securities of a series issuable or issued in whole or in part in the form of
one or more Global Securities, the Person designated as Depositary by the Company pursuant to Section 2.03(b) until a successor Depositary shall have become such pursuant to the applicable provisions of this Indenture, and
thereafter “Depositary” shall mean or include each Person who is then a Depositary hereunder, and if at any time there is more than one such Person, “Depositary” as used with respect to the Securities of a series shall mean the
Depositary with respect to such Securities. 
 Event of Default: 

The term “Event of Default” shall have the meaning specified in Article Six. 

Exchange Act: 
 The term
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
 Global Security: 

The term “Global Security” shall mean any Security evidencing all or a portion of the Securities of a series issued in fully
registered global form to the Depositary or its nominee for such Securities in accordance with Section 2.04, which shall be substantially in the form as may be established by or pursuant to a Board Resolution of the Company
or one or more indentures supplemental hereto and may be in the form of a master Global Security representing two or more issuances of Securities. 

  
 3 

 Guarantee: 

The term “Guarantee” shall mean the guarantee of the Company’s obligations to the holders and the Trustee under this Indenture
and on the Securities by the Guarantor pursuant to Article Fifteen of this Indenture. 
 Guarantor: 

The term “Guarantor” shall mean Bank of America Corporation, a Delaware corporation, and any successor pursuant to Article
Eleven in each case, unless and until the Guarantor is released from the Guarantee pursuant to this Indenture. 
 Holder: 

The terms “holder,” “holder of Securities,” “securityholder” or other similar term shall mean the Person in whose
name such Security is registered in the Security Register in accordance with the terms hereof. 
 Indenture: 

The term “Indenture” shall mean this instrument as originally executed and delivered or as it may from time to time be supplemented
or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including without limitation, to establish the form and terms of a series of Securities or of any particular Securities of a series
as contemplated by Article Two. 
 Officer’s Certificate: 

The term “Officer’s Certificate” shall mean a certificate signed by any Authorized Officer of the Company or the Guarantor, as
the case may be, and delivered to the Trustee. 
 Opinion of Counsel: 

The term “Opinion of Counsel” shall mean an opinion in writing signed by legal counsel, who may be an employee of or counsel to the
Company or the Guarantor, or both, and who shall be satisfactory to the Trustee, or who may be other counsel satisfactory to the Trustee. 
 Original
Issue Discount Securities: 
 The term “Original Issue Discount Securities” shall mean any Securities that provide 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 6.01. 

Outstanding: 
 The term
“Outstanding” or “outstanding,” when used with respect to any Securities, shall mean, subject to the provisions of Section 8.04, as of the date of determination, all such Securities authenticated and
delivered by the Trustee under this Indenture, except: 
 (a) Securities theretofore cancelled by the Trustee or delivered to
the Trustee for cancellation; 

  
 4 

 (b) Securities, or portions thereof, for the payment or redemption of which
money, U.S. Government Obligations or other property in the necessary amount shall have been deposited in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside and segregated and held in trust by the
Company (if the Company shall act as Paying Agent) for the holders of such Securities or for its obligations with respect to which the Company shall have been discharged; provided, that if such Securities, or portions thereof, are to be
redeemed prior to the maturity thereof, notice of such redemption shall have been given as provided in this Indenture, or provision satisfactory to the Trustee shall have been made for giving such notice; 

(c) Securities that have been defeased pursuant to Section 14.02 hereof; and 

(d) Securities that have been paid pursuant to Section 2.09, or Securities in exchange for, in lieu
of and in substitution for which other Securities shall have been authenticated and delivered pursuant to the terms of this Indenture, unless proof satisfactory to the Trustee is presented that any such Securities are held by a bona fide purchaser
in whose hands such Securities are valid obligations of the Company, 
 provided, however, that in determining whether the holders of the
requisite principal amount of the Outstanding Securities have given, made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date (1) the principal amount of an Original Issue Discount
Security which shall be deemed to be Outstanding shall be the amount of the principal thereof which would be due and payable as of such date upon declaration of acceleration of the maturity thereof to such date pursuant to
Section 6.01, and (2) the principal amount of a Security denominated in one or more foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be the U.S. Dollar equivalent,
determined as of such date in the manner provided as contemplated by Section 2.03(b), of the principal amount of such Security (or, in the case of a Security described in clause (1) above, of the amount determined as
provided in such clause). 
 Paying Agent: 

The term “Paying Agent” shall mean any Person authorized by the Company to pay the principal of (and any premium, if any, on) or any
interest or other amounts due on any Securities on behalf of the Company and which shall be the Trustee, unless otherwise provided as contemplated by Section 2.03(b). 

Periodic Offering: 
 The term
“Periodic Offering” shall mean an offering of Securities of a series, from time to time, the specific terms of which (including, without limitation, the rate or rates of interest or formula for determining the rate or rates of interest
thereon, if any, the maturity date or dates thereof and the redemption provisions, if any, with respect thereto) are to be determined by the Company upon the issuance of such Securities. 

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

  
 5 

 Place of Payment: 

The term “Place of Payment,” when used with respect to any Securities, means the place or places where, subject to the provisions of
Section 4.02, the principal of (and premium, if any, on) and any interest or other amounts due on such Securities are payable as specified as contemplated by Section 2.03(b). 

Principal Subsidiary Bank: 
 The term
“Principal Subsidiary Bank” shall mean any Subsidiary Bank the total assets of which as set forth in the most recent statement of condition of such Subsidiary Bank equal more than 10% of the total consolidated assets of the Guarantor and
its subsidiaries determined from the most recent consolidated balance sheet of the Guarantor and its subsidiaries.
 Record Date: 

The term “record date” as used with respect to any interest payment date shall have the meaning specified in
Section 2.05. 
 Reference Asset: 

The term “Reference Asset” shall mean one or more interest rates, equity securities, indices, exchange traded funds, commodities,
currency exchange rates or futures contracts or any other rates, instruments, assets, market measures or other factors or any other measure of economic or financial risk or value, or one or more baskets, indices or other combinations of the
foregoing as specified in accordance with Section 2.03(b). 
 Responsible Officer: 

“Responsible Officer,” when used with respect to the Trustee, shall mean any officer within the corporate trust department of the
Trustee (or any successor group of the Trustee), including any Vice President, Assistant Vice President, Assistant Secretary, Assistant Treasurer, trust officer or any other officer of the Trustee customarily performing functions similar to those
performed by the Persons who at the time shall be such officers, respectively, and also shall mean, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of such officer’s knowledge of
and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 
 Securities: 

The term “Securities” shall have the meaning set forth in the preamble of this Indenture and, for the avoidance of doubt, shall
include any Security established pursuant to Section 2.01 and Section 2.03(b), whether as a Global Security or a Definitive Security, and registered on the Security Register. 

Securities Act: 
 The term
“Securities Act” shall mean the Securities Act of 1933, as amended. 

  
 6 

 Security Register and Security Registrar: 

The terms “Security Register” and “Security Registrar” shall have the respective meanings set forth in
Section 2.07(a) hereof. 
 Subsidiary Bank: 

The term “Subsidiary Bank” shall mean any subsidiary of the Guarantor which is a bank or trust company organized and doing business
under any U.S. State or Federal law. 
 Trust Indenture Act: 

The term “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, as in force at the date of this Indenture as
originally executed, except in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” shall mean, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended. 

Trustee: 
 The term “Trustee”
shall mean the person identified as “Trustee” in the first paragraph hereof until the acceptance of appointment of a successor trustee pursuant to the provisions of Article Seven, and thereafter shall mean such successor trustee.

 U.S. Dollar, US$ or $: 
 The term
“U.S. Dollar,” “US$” or “$” shall mean a dollar or other equivalent unit in such coin or currency of the United States of America as at the time shall be legal tender for the payment of public and private debts. 

U.S. Government Obligations: 
 The term
“U.S. Government Obligations” shall mean securities that are (a) direct obligations of the United States of America for the payment of which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by
and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case, are not callable or
redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any such U.S. Government Obligation or a specific
payment of principal of or interest on any such U.S. Government Obligation held by such custodian for the account of the holder of such depository receipt, provided that (except as required by law) such custodian is not authorized to make any
deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal of or interest on the U.S. Government Obligation
evidenced by such depository receipt. 
 United States Alien: 

The term “United States Alien” shall mean any Person who, for United States Federal income tax purposes, is a foreign corporation, a
non-resident alien individual, a non-resident alien fiduciary of a foreign estate or trust, or a foreign partnership to the extent that one or more of its members is, for United States Federal income tax purposes, a foreign corporation, a
non-resident alien individual or a non-resident alien fiduciary of a foreign estate or trust. 

  
 7 

 Vice President: 

The term “Vice President” when used with respect to the Company, the Guarantor or the Trustee shall mean any vice president, whether
or not designated by a number or word or words added before or after the title “vice president,” including any Executive or Senior Vice President. 

Wholly Owned Subsidiary: 
 The term
“Wholly Owned Subsidiary” shall mean any subsidiary not less than 99% of the Capital Stock of which (other than shares in the minimum amount required by law to be owned by a person for the purpose of the qualification of such person to
serve as a director) is owned by the Guarantor or by one or more of such subsidiaries of the Guarantor or by the Guarantor and one or more of such subsidiaries of the Guarantor. 

ARTICLE TWO 
 ISSUE, EXECUTION,
REGISTRATION AND EXCHANGE OF SECURITIES 
 SECTION 2.01. Amount Unlimited; Issuable in Series. 

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

The Securities may be issued in one or more series. The Securities of a particular series may contain the terms and conditions from time
to time authorized by or pursuant to a Board Resolution of the Company, or in an indenture supplemental hereto, as set forth in Section 2.03. 

SECTION 2.02. Trustee’s Certificate of Authentication. 

(a) No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has
been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the
Trustee for cancellation as provided in Section 2.10 together with a written statement stating that such Security has never been issued and sold by the Company, for all purposes of this Indenture such Security shall be
deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 
 (b) The
Trustee’s certificate of authentication shall be in substantially the following form: 
 [Form of Trustee’s Certificate of
Authentication] 
 This is one of the Securities of the series designated herein and referred to in the within-mentioned Indenture. 

  
 8 

Dated:                     

 

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

as Trustee

	 By:
	 	  

		 	Authorized Signatory

 SECTION 2.03. Form of Securities Generally; Establishment of Terms of Series. 

(a) The Securities of each series shall be in the form or forms (not inconsistent with this Indenture) established from time to time by or
pursuant to one or more Board Resolutions of the Company (and, to the extent established pursuant to rather than set forth in one or more Board Resolutions of the Company, an Officer’s Certificate of the Company detailing such establishment) or
in one or more indentures supplemental hereto, in each case with appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such letters, numbers or other marks of
identification or designation (including CUSIP numbers, ISINs and other similar numbers, if then generally in use) and such legends, endorsements, schedules or notations placed thereon as the Company may deem appropriate and as are not inconsistent
with the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any securities exchange on which the Securities may be listed or to conform to
general usage, all as may be determined by the officers executing such Securities, as evidenced by their execution of such Securities.
 In
the event that Definitive Securities are to be issued, either originally or in exchange for interests in a Global Security, the form thereof shall be as set forth in or pursuant to one or more Board Resolutions of the Company. The certificates
evidencing any Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner, all as determined by the officer executing such Securities, as evidenced by their execution of such Securities.

 (b) At or prior to the initial issuance of any Securities of a series, the particular terms of such Securities shall be established by or
pursuant to one or more Board Resolutions of the Company and, subject to Section 2.06, set forth or determined in the manner provided in an Officer’s Certificate of the Company or established in an indenture
supplemental hereto, including the following: 
 (1) the title or designation of such Securities (which shall distinguish
such Securities from any other Securities of the same series and of any other series); 
 (2) any limit upon the aggregate
principal amount of such Securities (or of such series) that may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other
Securities of the series pursuant to this Indenture and except for any Securities which, pursuant to Section 2.02(a), are deemed never to have been authenticated and delivered hereunder); 

(3) the Person to whom any interest on such Securities shall be payable, if other than the Person in whose name such
Securities (or one or more predecessor Securities) are registered at the close of business on the record date for any such interest; 

(4) the date or dates on which the principal of such Securities is payable; 

  
 9 

 (5) the rate or rates, and if applicable the method used to determine the rate,
at which such Securities shall bear interest, if any, the date or dates from which such interest shall accrue, the date or dates on which such interest shall be payable and the record date or dates for the interest payable on such Securities on any
interest payment date; 
 (6) the place or places at which the principal of (and premium, if any, on) and any interest or
other amounts due on such Securities shall be payable, such Securities may be surrendered for registration of transfer, such Securities may be surrendered for exchange and notices and demands to or upon the Company in respect of such Securities and
this Indenture may be served, if other than as provided in Section 4.02, and the manner in which any payment may be made; 

(7) the right, if any, of the Company to redeem such Securities, in whole or in part, at the Company’s option and the
period or periods within which, the price or prices at which and any terms and conditions, including the redemption notice period, upon which such Securities of the series may be so redeemed, pursuant to any sinking fund or otherwise; 

(8) the obligation, if any, of the Company to redeem, purchase or repay such Securities pursuant to any mandatory redemption,
sinking fund or other analogous provisions or at the option of the holder thereof and the period or periods within which, the price or prices at which and any terms and conditions upon which such Securities may be so redeemed, purchased or repaid,
in whole or in part, pursuant to such obligation; 
 (9) if other than denominations of $1,000 and any integral multiple
thereof, the denominations in which such Securities shall be issuable; 
 (10) if other than the principal amount thereof,
the portion of the principal amount of such Securities which shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.01; 

(11) if other than U.S. Dollars, the currency, currencies, composite currency, composite currencies or currency units in which
payment of the principal of (and premium, if any, on) and any interest or other amounts due on such Securities shall be payable and the manner of determining the equivalent thereof in U.S. Dollars for any purpose, including for purposes of applying
the definition of “Outstanding” in Section 1.01; 
 (12) if the principal of (and
premium, if any, on) or any interest or other amounts due on such Securities are to be payable, at the election of the Company or a holder thereof, in one or more currencies, composite currencies or currency units, other than that or those in which
such Securities are denominated or stated to be payable, the currency, currencies, composite currency, composite currencies or currency units in which payment of the principal of (and premium, if any, on) and any interest or other amounts due on
such Securities as to which such election is made shall be payable, and the periods within which and the terms and conditions upon which such election is to be made or the manner in which such amount shall be determined; 

(13) if the amount of payments of principal of (and premium, if any, on) or any interest or other amounts due on such
Securities may be payable in cash or property and, if payable in property, the type of property in which such payment may be made; 

(14) if the amount of payments of principal of (and premium, if any, on) or any interest or other amounts due on such
Securities, or the property in which the payments of 

  
 10 

 
principal of (and premium, if any, on) or any interest or other amounts due on such Securities may be made, may be determined with reference to one or more Reference Assets and the manner in
which such amounts shall be determined; 
 (15) if such Securities may be converted or exchanged, at the option of the
Company or otherwise, into or for securities of other entities not affiliated with the Company or other property (or the cash value thereof) and the specific terms of and period during which such conversion or exchange may be made; 

(16) if such Securities will be in book-entry only form and/or if such Securities will be issuable, in whole or in part, as one
or more Global Securities and, in such case, the Depositary or Depositaries for such Global Securities, form of any legend or legends which shall be borne by any such Global Security, any addition to, elimination of or other change in the
circumstances set forth in Section 2.07(d) in which any such Global Security may be exchanged in whole or in part for Definitive Securities, and whether any transfer of such Global Security in whole or in part may be
registered in the name or names of Persons other than the Depositary or a nominee thereof and any other provisions governing exchanges or transfers of any such Global Security; 

(17) any trustees, depositaries, authenticating or paying agents, transfer agents and/or registrars, calculation or exchange
rate agents or other agents with respect to such Securities; 
 (18) if such Securities, in whole or any specified part,
shall be defeasible pursuant to Sections 14.02 and 14.03, and, if so defeasible, any provisions to permit a pledge of obligations other than U.S. Government Obligations (or the establishment of other arrangements) to satisfy the
requirements of Section 14.04 for defeasance of such Securities; 
 (19) if and under what
circumstances the Company will pay Additional Amounts in respect of such Securities and whether the Company has the option to redeem such Securities rather than pay such Additional Amounts and the terms of such redemption; 

(20) any provisions relating to the extension of maturity of, or the renewal of, such Securities; 

(21) any addition to, elimination of or other change in the Events of Default or covenants with respect to such Securities,
including making Events of Default or covenants inapplicable or changing the remedies available to holders of such Securities upon an Event of Default or a failure by the Company to perform a covenant; 

(22) the date as of which any such Security shall be dated if other than the date of authentication of the Global Security or
Definitive Security representing such Security or the date of original issuance of such Security; and 
 (23) any other terms
of such Securities (which terms shall not be inconsistent with the provisions of this Indenture). 
 All Securities of any one series need
not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution of the Company or Officer’s Certificate of the Company referred to above or
as set forth in an indenture supplemental hereto. If so provided by or pursuant to the Board Resolution of the Company or Officer’s Certificate of the Company or supplemental indenture referred to above, the terms of such Securities to be
issued from time to time may be determined by or pursuant to such Board Resolution of the Company, 

  
 11 

 
Officer’s Certificate of the Company or supplemental indenture, as the case may be. All Securities of any one series shall be substantially identical except as to denomination, tenor
and payment and other terms, and except as may otherwise be provided by or pursuant to such Board Resolution of the Company, Officer’s Certificate of the Company or supplemental indenture. 

SECTION 2.04. Global Securities. 
 If
any Securities of a series, in whole or in part, are issuable as one or more Global Securities, as specified as contemplated by Section 2.03(b), then, notwithstanding clause (9) of Section 2.03(b)
and the provisions of Section 2.05, any such Global Security shall represent such of the Securities Outstanding as shall be specified therein or endorsed or notated by the Trustee or the Security Registrar (if other than
the Trustee) thereon or on a schedule thereto, and any such Global Security may provide that it shall represent the aggregate amount of Securities Outstanding from time to time specified therein or endorsed or notated by the Trustee or the Security
Registrar (if other than the Trustee) thereon or on a schedule thereto and that the aggregate amount of Securities Outstanding represented thereby may from time to time be increased or reduced to reflect any exchanges, transfers, redemptions,
repayments or other increases or decreases in the amount of Securities Outstanding represented thereby, which increase or decrease may be endorsed or notated on such Global Security or on a schedule thereto. Any endorsement or notation on a
Global Security or on a schedule to a Global Security to reflect the amount, or any increase or decrease in the amount, of Securities Outstanding represented thereby shall be made by the Trustee or the Security Registrar (if other than the Trustee)
in such manner and upon instructions given by such Person or Persons as shall be specified in such Global Security or in the Company Order to be delivered to the Trustee pursuant to Section 2.06 or
Section 2.08.
 Subject to the provisions of Section 2.06 and, if applicable,
Section 2.08, the Trustee or the Security Registrar (if other than the Trustee) shall deliver and redeliver any Global Security in the manner and upon instructions given by the Person or Persons specified in such Global
Security or in the applicable Company Order. If a Company Order pursuant to Section 2.06 or Section 2.08 has been, or simultaneously is, delivered, any instructions by the Company with respect
to an endorsement or notation on a schedule to or delivery or redelivery of a Global Security shall be in writing but need not be represented by a Company Order and need not be accompanied by an Opinion of Counsel.

The provisions of the last sentence of Section 2.02(a) shall apply to any Securities issuable as one or more Global
Securities if such Global Security or Securities were never issued and sold by the Company and the Company delivers to the Trustee or the Security Registrar (if other than the Trustee) the Global Security or Securities together with written
instructions (which need not be represented by a Company Order and need not be accompanied by an Opinion of Counsel) with regard to the reduction in the principal amount of Securities represented thereby, together with the written statement
contemplated by the last sentence of Section 2.02(a). 
 SECTION 2.05. Denominations; Record Date; Payment of
Interest. 
 (a) The Securities of each series shall be issuable only in registered form without coupons and only in such denominations
as shall be specified as contemplated by Section 2.03(b). In the absence of any such specified denomination with respect to the Securities of any series, the Securities shall be issuable in denominations of $1,000 and
any integral multiple thereof. 
 (b) The term “record date” as used with respect to an interest payment date for any Security
shall mean such day or days as shall be specified in such Security as contemplated by Section 2.03(b); or, if no such day or days are so specified, such term shall mean (1) for any Global Security, the close of business on
the business day preceding such interest payment date or (2) for any Definitive Security, the fifteenth calendar day preceding such interest payment date, whether or not such record date is a business day. 

  
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 Unless otherwise provided as contemplated by Section 2.03(b) with
respect to any Securities of a series, the Person in whose name any Security is registered at the close of business on the record date for such interest payment date shall be entitled to receive the interest, if any, payable on such interest payment
date notwithstanding the cancellation of such Security upon any registration of transfer or exchange thereof subsequent to such record date and prior to such interest payment date; provided, however, that if and to the extent the
Company shall default in the payment of the interest due on such interest payment date, such defaulted interest shall be paid to the persons in whose names the Securities are registered on a subsequent record date established by notice given to the
extent and in the manner set forth in Section 16.04 by or on behalf of the Company to the holders of such Securities in default not less than 15 calendar days preceding such subsequent record date, such record date to be
not less than five calendar days preceding the date of payment of such defaulted interest, or in any other lawful manner acceptable to the Trustee. 

(c) Unless otherwise specified by the Company pursuant to Section 2.03(b), the principal of and any premium, interest
or other amounts due on any Securities of a series shall be payable at the Corporate Trust Office or any other office or agency maintained pursuant to Section 4.02 in a Place of Payment for such Securities; provided,
however, that, at the option of the Company, payment with respect to such Securities may be made by wire transfer or by check mailed to the holders of the Securities entitled thereto at their last addresses as they appear on the Security
Register, and provided, further, that if such Securities are represented by one or more Global Securities, payment may be made pursuant to the applicable procedures of the Depositary as in effect at such time. 

SECTION 2.06. Execution, Authentication, Delivery and Dating of Securities. 

The Securities shall be signed on behalf of the Company by one of its Authorized Officers and may, but need not be, attested by the Secretary
or any Assistant Secretary of the Company. Such signatures may be the manual or facsimile signatures of the current or any future such officers. Any Security may be signed on behalf of the Company by such persons as, at the actual date of
the execution of such Security, shall be an Authorized Officer or other proper officer of the Company, although at the date of the execution of this Indenture any such person was not such officer. Securities bearing the manual or facsimile
signatures of individuals who were, at the actual date of the execution of such Security, an Authorized Officer or other proper officer of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold
such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities. 
 The
Trustee shall at any time, and from time to time, upon receipt by the Trustee of a Company Order, authenticate Securities executed by the Company and delivered to the Trustee for original issue and deliver such Securities to or upon order of the
Company, all as set forth in or pursuant to such Company Order. In authenticating the Securities of a series and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall have received and
(subject to Sections 7.01 and 7.02) shall be fully protected in relying on: 
 (i) The Board Resolution of the
Company, Officer’s Certificate of the Company or indenture supplemental hereto establishing the terms and the form of such Securities pursuant to Section 2.03; 

(ii) An Officer’s Certificate of the Company delivered in accordance with Section 16.05; and

  
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 (iii) One or more Opinions of Counsel, either addressed to the Trustee or
permitting reliance by the Trustee, substantially to the following effect: 
 (A) the form of the Securities has been
established in conformity with the provisions of this Indenture; 
 (B) either (i) the terms of the Securities have been
established in conformity with the provisions of this Indenture or (ii) in the case of Securities subject to a Periodic Offering, when the terms of such Securities have been established pursuant to the procedures as may be set forth in an
Officer’s Certificate of the Company or a Company Order, such terms will have been established in conformity with the provisions of this Indenture; 

(C) such Securities, when executed and delivered by the Company to the Trustee for authentication in accordance with this
Indenture, authenticated and delivered by the Trustee in accordance with this Indenture, and issued by the Company in the manner and subject to the conditions specified in the Opinion of Counsel, will be valid and legally binding obligations of the
Company enforceable in accordance with their terms; 
 (D) all applicable laws and requirements in respect of the execution
and delivery by the Company of such Securities have been complied with; and 
 (E) the Guarantee of such Securities has been
duly authorized by the Guarantor and, when the terms of such Securities subject to a Periodic Offering have been established pursuant to the procedures as may be set forth in an Officer’s Certificate of the Company or a Company Order, and when
such Securities have been executed and delivered by the Company to the Trustee for authentication in accordance with this Indenture, authenticated and delivered by the Trustee in accordance with this Indenture, and issued by the Company in the
manner and subject to the conditions specified in the Opinion of Counsel, the Guarantee of such Securities will be the valid and legally binding obligation of the Guarantor enforceable in accordance with its terms. 

Such Opinion or Opinions of Counsel may be subject to or qualified by the operation or effect of certain laws and equitable principles and the conditions,
limitations and exceptions as set forth in such Opinion or Opinions of Counsel. 
 The Trustee shall have the right to decline to
authenticate and deliver any Securities under this Section if the Trustee, being advised by its counsel, determines that such action may not lawfully be taken or if the Trustee in good faith by its board of directors, board of trustees or
executive committee shall determine that such action would expose the Trustee to personal liability to existing holders. 
 With respect to
any Securities of a series offered in a Periodic Offering, the documents required to be delivered to the Trustee pursuant to this Section must be delivered only once at or prior to the first request of the Company for authentication and
delivery of the Securities of such series. Such documents delivered to the Trustee pursuant to this Section may include appropriate modifications to the information otherwise required to be set forth in such document to account for the
nature of such Periodic Offering, if applicable. Further, with respect to any Company Order relating to Securities of a series subject to a Periodic Offering, (a) such Company Order may be delivered to the Trustee prior to the delivery to the
Trustee of such Securities for authentication and delivery, (b) the Trustee shall authenticate and deliver such Securities for original issue from time to time, in an aggregate principal amount not exceeding the

  
 14 

 
aggregate principal amount, if any, established for such series, pursuant to a Company Order or pursuant to such procedures acceptable to the Trustee as may be specified from time to time by a
Company Order, (c) the terms of such Securities shall be established as contemplated by Section 2.03 pursuant to a Company Order or pursuant to such procedures, and (d) if provided for in such procedures, such Company
Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its duly authorized agent or agents, which oral instructions shall be promptly confirmed in writing. The Trustee may conclusively
rely on the documents delivered pursuant to this Section in connection with the first request of the Company to the Trustee to authenticate Securities of such series unless and until such documents have been superseded or revoked. In
connection with the authentication and delivery of Securities of a series subject to a Periodic Offering, the Trustee shall be entitled to assume that the Company’s instructions to authenticate and deliver such Securities do not violate
any rules, regulations or orders of any governmental agency or commission having jurisdiction over the Company. 
 Unless otherwise
specified pursuant to Section 2.03(b) hereof, each Security shall be dated the date of its authentication or the date of original issue of such Security (except as otherwise provided by Board Resolution of the Company,
Officer’s Certificate of the Company or indenture supplemental hereto). 
 SECTION 2.07. Exchange and Registration of Transfer of
Securities. 
 (a) The Company shall cause to be kept at the Corporate Trust Office of the Trustee, or such other office or agency to be
designated in accordance with Section 4.02, a register (the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Securities
and transfers of Securities as provided in this Indenture. The Trustee hereby is appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as provided in this Indenture; provided that
the Company may, pursuant to Section 2.03(b), designate and appoint a different entity, including an affiliate of the Company, to act as “Security Registrar” for purposes of any series of Securities or particular
Securities of a series. The Security Register shall be in written form or in any other form capable of being converted into written form within a reasonable time. If the Trustee does not act as Security Registrar with respect to any series of
Securities or particular Securities of a series, the Company shall ensure that at all reasonable times the Security Register for such series or such Securities shall be open for inspection by the Trustee. Upon due presentment for registration
of transfer of any Security of a series at such office or agency maintained pursuant to Section 4.02 for such purpose in a Place of Payment, the Company shall execute and the Trustee shall authenticate and deliver in the
name of the transferee or transferees a new Security or Securities representing such Security so presented of any authorized denominations for an equal aggregate principal amount and having like form, tenor and payment and other terms, and the
Security Registrar shall register the same on the Security Register. 
 (b) At the option of the holder, Definitive Securities may be
exchanged for other Definitive Securities having like tenor and payment and other terms of any authorized denominations and of an equal aggregate principal amount. Definitive Securities to be exchanged shall be surrendered at any such office or
agency maintained pursuant to Section 4.02 for such purpose in a Place of Payment, and the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor the Definitive Security or Securities that
the holder making the exchange shall be entitled to receive, and the Security Registrar shall register the same on the Security Register.

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

  
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 Each Security presented for registration of transfer or for exchange, redemption or payment, as
the case may be, shall (if so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written instrument or instruments of transfer in form satisfactory to the Company and the Trustee or the Security Registrar (if other than
the Trustee) duly executed, by the holder thereof or his or her attorney duly authorized in writing. 
 No service charge shall be made for
the registration of transfer or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith, other than exchanges pursuant to the terms of
this Indenture not involving any transfer. 
 If any Securities are to be redeemed in part, neither the Company nor the Security Registrar
shall be required (1) to issue, register the transfer of or exchange any such Securities to be redeemed for a period of 15 calendar days before the date fixed for redemption for such Securities, or (2) to exchange or register the transfer of any
Security so selected, called or being called for redemption, except, in the case of any such Securities to be redeemed in part, the portion thereof not to be so redeemed. 

(d) Notwithstanding the foregoing, except as otherwise specified as contemplated by Section 2.03(b), Definitive
Securities shall be issued to all holders of interests in a Global Security in exchange for such interests only if (1) the Depositary notifies the Company that it is unwilling or unable to continue as depositary or ceases to be a clearing agency
registered under the Exchange Act or otherwise authorized under applicable law or regulation, and, in either case, a successor depositary is not appointed by the Company within 90 calendar days after receiving such notice or becoming aware of the
foregoing; (b) the Company, in its sole discretion, elects to issue Definitive Securities; or (c) after the occurrence and continuance of an Event of Default with respect to such Global Security. If the holders of interests in a Global Security
are entitled to exchange such interests for Definitive Securities in the circumstances described in this Section 2.07(d) or as specified as contemplated by Section 2.03(b), then without unnecessary
delay but in any event not later than the earliest date on which such interests may be so exchanged, the Company shall deliver to the Trustee or the Security Registrar (if other than the Trustee) Definitive Securities in aggregate principal amount
equal to the principal amount of the holder’s interests in such Global Security executed by the Company. On or after the earliest date on which such interests may be so exchanged, in accordance with instructions given by the Company to the
Trustee or the Depositary, as the case may be (which instructions shall be in writing), such Global Security shall be surrendered from time to time by the Depositary or such other depositary as shall be specified in the Company Order with respect
thereto to the Trustee, as the Company’s agent for such purpose, or to the Security Registrar (if other than the Trustee), to be exchanged, in whole or in part, for Definitive Securities without charge to the holder, and the Trustee shall
authenticate and make available for delivery in accordance with such instructions, in exchange for each portion of such Global Security, a like aggregate principal amount of Definitive Securities of authorized denominations; provided,
however, that no such exchanges may occur for a period of 15 calendar days next preceding any selection of any such Securities for redemption. Promptly following any such exchange in part, such Global Security should be returned by the
Trustee or the Security Registrar (if other than the Trustee) to the Depositary or such other depositary referred to above in accordance with the instructions of the Company referred to above. If a Definitive Security is issued in exchange for
any portion of a Global Security after the close of business at the office or agency where such exchange occurs on (i) any record date and before the opening of business at such office or agency on the relevant interest payment date, or (ii) any
special record date and before the opening of business at such office or agency on the related proposed date for payment of defaulted interest as provided in Section 2.05, interest or defaulted interest, as the case may be,
will not be payable on such interest payment date or proposed date for payment, as the case may be, in respect of such Security, but will be payable on such interest payment date or proposed date for payment, as the case may be, only to the person
to whom interest in respect of such portion of such Global Security is payable in accordance with the provisions of this Indenture. 

  
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 (e) The Trustee shall have no obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Depositary participants or beneficial owners of
interests in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the
same to determine substantial compliance as to form with the express requirements hereof.
 SECTION 2.08. Temporary Securities. 

Pending the preparation of definitive Securities, the Company may execute and the Trustee shall, upon Company Order, authenticate and make
available for delivery, temporary Securities (typewritten, printed, lithographed or otherwise produced). Such temporary Securities, in any authorized denominations, shall be substantially in the form of the definitive Securities in lieu of
which they are issued, in registered form and otherwise in the form and having the terms approved from time to time by or pursuant to a Board Resolution of the Company with such omissions, insertions, substitutions and other variations as may be
appropriate for temporary Securities, all as may be determined by the Company, but not inconsistent with the terms of this Indenture or any provision of applicable law.

If temporary Securities are issued, the Company will cause definitive Securities to be prepared without unreasonable delay. After the
preparation of definitive Securities, the temporary Securities shall be exchangeable for definitive Securities in lieu of which such temporary Securities were initially issued upon surrender of such temporary Securities at the office or agency of
the Company maintained pursuant to Section 4.02 in a Place of Payment for such Securities for the purpose of exchanges, without charge to the holder. Upon surrender for cancellation of any one or more temporary
Securities, the Company shall execute and the Trustee shall authenticate and make available for delivery in exchange therefor a like aggregate principal amount of definitive Securities, of any authorized denominations and of like tenor, payment and
other terms and aggregate principal amount. 
 Each temporary Security shall be executed by the Company and be authenticated by the Trustee
upon the same conditions and in substantially the same manner, and with like effect, as the definitive Securities. 
 SECTION 2.09. Mutilated,
Destroyed, Lost or Stolen Securities. 
 If any mutilated Security is surrendered to the Trustee, the Company shall execute and the
Trustee shall authenticate and make available for delivery in exchange therefor a new Security of like tenor, form, payment and other terms and principal amount and bearing a number not contemporaneously used or in use for any other Security issued
hereunder. 
 If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or
theft of any Security and (ii) such security or indemnity as may be required by them to save each of them and any Paying Agent harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide
purchaser, the Company shall, subject to the following paragraph, execute and the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of like tenor, form, and payment and
other terms and principal amount and bearing a number not contemporaneously used or in use for any other Security issued hereunder. 

  
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 In case any such mutilated, destroyed, lost or stolen Security has become or is about to become
due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new
Security under this Section, the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected
therewith. 
 Each new Security issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an
original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and any such new Security shall be entitled to all the benefits of this Indenture equally
and proportionately with any and all other such Securities duly issued hereunder. 
 The provisions of this Section are exclusive and
shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities. 

SECTION 2.10. Cancellation. 
 All
Securities surrendered for payment, redemption, exchange or registration of transfer or for credit against any sinking fund payment, as the case may be, shall, if surrendered to any Person other than the Trustee, be delivered to the Trustee and
shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver
to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all Securities so delivered shall be promptly cancelled by the
Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section except as expressly provided by this Indenture. Any cancelled Securities held by the Trustee shall be
disposed of in accordance with its customary procedures for the disposition of cancelled securities, and the Trustee shall deliver a certificate of such disposal to the Company and the Guarantor. 

SECTION 2.11. Book-Entry Only System. 

If specified by the Company pursuant to Section 2.03(b) with respect to Securities represented by a Global Security,
any Securities may be issued initially in book-entry only form and, if issued in such form, shall be represented by one or more Global Securities registered in the name of the Depositary, or its nominee, designated with respect thereto. So long
as such system of registration is in effect, (a) such Securities so issued in book-entry only form will not be issuable in the form of or exchangeable for Definitive Securities except as provided in Section 2.07(d), (b) the
records of the Depositary or such other depositary will be determinative for all purposes and (c) neither the Company, the Guarantor, the Trustee nor any Paying Agent, Security Registrar or transfer agent for such Securities will have any
responsibility or liability for (i) any aspect of the records relating to or payments made on account of owners of beneficial interests in such Securities, (ii) maintaining, supervising or reviewing any records relating to such beneficial interests,
(iii) receipt of notices, voting and requesting or directing the Trustee to take, or not to take, or consenting to, certain actions hereunder, or (iv) the records and procedures of the Depositary. 

  
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 SECTION 2.12. Security Identification Numbers. 

The Company in issuing the Securities may use CUSIP number, ISIN and other similar numbers (if then generally in use), and, if so, the Trustee
shall use CUSIP number, ISIN and other similar numbers in notices of redemption as a convenience to holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the
Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers.
The Company will promptly notify the Trustee of any changes in the CUSIP number, ISIN and other similar numbers. 
 ARTICLE THREE 

REDEMPTION OF SECURITIES; REPAYMENT AT THE OPTION OF HOLDERS 

SECTION 3.01. Redemption of Securities; Applicability of Section. 

Redemption of the Securities of a series as permitted or required by the terms thereof shall be made in accordance with the terms of such
Securities as specified pursuant to Section 2.03(b) hereof and the applicable provisions of this Article Three; provided, however, that if any provision of any such Securities shall conflict with any
provision of this Article Three, the provision of such Securities shall govern. In case the Company shall desire to exercise the right to redeem all or, as the case may be, any part of the Securities of a series pursuant to this Section, it
shall fix a date for redemption in accordance with this Indenture and the terms of such Securities and notify the Trustee of the same at least 45 calendar days before such date for redemption, unless a shorter period is satisfactory to the Trustee.

 For purposes of this Article Three, the terms “Securities of a series” and any similar terms shall mean Securities
having identical terms, except as to issue date, principal amount and, if applicable, the date from which interest begins to accrue. 
 SECTION 3.02.
Notice of Redemption; Selection of Securities. 
 Notice of redemption of Securities of a series to be redeemed at the election of the
Company shall be given by the Company, or, at the Company’s request, by the Trustee in the name and at the expense of the Company, in the manner and to the extent set forth in Section 16.04. The Company or the
Trustee, as the case may be, shall give such notice of redemption at least 10 business days and not more than 60 calendar days prior to the date fixed for redemption (or within such period as otherwise specified as contemplated by
Section 2.03(b)) to the holders of such Securities to be redeemed, as a whole or in part. Notice given in such manner shall be conclusively presumed to have been duly given, whether or not the holder receives such
notice. In any case, failure to give such notice or any defect in the notice to the holder of any such Security of a series designated for redemption as a whole or in part shall not affect the validity of the proceedings for the redemption of
any other Security of a series. If the Company requests the Trustee to give any notice of redemption, it shall make such request at least ten calendar days prior to the designated date for delivering such notice, unless a shorter period is
satisfactory to the Trustee. 
 Unless otherwise specified as contemplated by Section 2.03(b), each such notice of
redemption shall identify the Securities to be redeemed (including applicable CUSIP numbers, ISINs or other similar numbers, if applicable) and also shall specify (a) the date fixed for redemption, (b) the redemption price (or, if not then
ascertainable, the manner of calculation thereof) at which such Securities are to be redeemed, (c) if less than all the Outstanding Securities of a series are to be redeemed, the principal amounts (and, in the case of Definitive Securities, the
certificate numbers) of such Securities to be 

  
 19 

 
redeemed, (d) the Place of Payment where such Securities are to be surrendered for payment of the redemption price and that payment will be made upon presentation and surrender of such
Securities, and (e) that interest (if any) accrued to the date fixed for redemption will be paid as specified in such notice, and that on and after the date fixed for redemption, interest (if any) thereon or on the portions of such Securities of the
series to be redeemed will cease to accrue. In case any Securities of a series are to be redeemed in part, on and after the date fixed for redemption, upon surrender of such Securities, such Securities will be cancelled and a new Security or
Securities of such series in principal amount equal to the unredeemed portion thereof will be issued and delivered without charge to the holder, or, if applicable, the decrease in the amount of Securities Outstanding represented by a Global Security
will be endorsed or notated thereon or on a schedule thereto by the Trustee or the Security Registrar (if other than the Trustee) in accordance with Section 2.04. 

On or before 10:00 a.m. (local time at the Place of Payment) on the redemption date specified in the notice of redemption given as provided in
this Section, or such other date and time as may be agreed by the Trustee, any relevant Paying Agent and the Company, the Company will deposit in trust with the Trustee or with one or more Paying Agents an amount of money sufficient to redeem on the
redemption date all or any portion of the Securities of a series so called for redemption at the appropriate redemption price, together with accrued interest, if any, to the date fixed for redemption.

If less than all the Securities of a series are to be redeemed, the Company will give the Trustee adequate written notice at least 45 calendar
days in advance (unless a shorter notice shall be satisfactory to the Trustee) as to the aggregate principal amount of the Securities of such series to be redeemed. 

If less than all the Securities of a series are to be redeemed, the Securities to be redeemed shall be selected (a) with respect to Securities
of a series issued in book-entry only form and represented by one or more Global Securities, in accordance with the applicable procedures of the Depository, or (b) with respect to Securities of a series represented by Definitive Securities, in such
manner as may be agreed by the Company and the Trustee not more than 60 calendar days prior to the date of redemption. The portion of the principal amount of Securities of a series so selected for partial redemption and the unredeemed portion
of the principal amount of Securities of such series shall be equal to the minimum authorized denomination for such Securities or any integral multiple thereof. 

SECTION 3.03. Payment of Securities Called for Redemption. 

If notice of redemption has been given as above provided, the Securities or portions of Securities with respect to which such notice has been
given shall become due and payable on the date and at the place stated in such notice at the applicable redemption price, together with any interest accrued to the date fixed for redemption, and on and after such date fixed for redemption (unless
the Company shall default in the payment of such Securities at the redemption price, together with any interest accrued to such date fixed for redemption) interest on such Securities or portions of Securities so called for redemption shall cease to
accrue and, except as provided in Sections 6.06 and 12.02, such Securities shall cease from and after the date fixed for redemption to be entitled to any benefit or security under this Indenture, and the holders thereof shall have no
right in respect of such Securities except the right to receive the redemption price thereof and unpaid interest, if any, to the date fixed for redemption.

On presentation and surrender of such Securities subject to redemption at the Place of Payment and in the manner specified in such notice,
such Securities or the specified portions thereof shall be paid and redeemed by the Company at the applicable redemption price, together with any interest accrued thereon to the date fixed for redemption; provided that, unless otherwise
specified as contemplated by Section 2.03(b), any payment of interest becoming due on or prior to the date fixed for redemption shall be payable to the holders of such Securities registered as such at the close of business
on the relevant 

  
 20 

 
record date, subject to the terms and provisions of Section 2.05. At the option of the Company, payment may be made by wire transfer or by check mailed to the holders of
the Securities entitled thereto at their last addresses as they appear on the Security Register, provided that, with respect to any Securities of a series represented by one or more Global Securities, payment may be made pursuant to the
applicable procedures of the Depositary as in effect on such date fixed for redemption. 
 Any Security that is to be redeemed only in part
shall be surrendered 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
such holder’s attorney duly authorized in writing), and upon such presentation, the Company shall execute and the Trustee shall authenticate and make available for delivery to the holder thereof, at the expense of the Company, a new Security or
Securities of the same series, of authorized denominations, in aggregate principal amount equal to the unredeemed portion of the principal of the Security so presented, or the Security so presented that continues to represent the unredeemed portion
of principal may be returned, if feasible, by the Trustee or the Security Registrar (if other than the Trustee) to the Depositary or such other depositary as may be referred to in any instructions from the Company regarding the return of such
Security. 
 Notwithstanding the foregoing, on each occasion on which Securities of a series represented by a Global Security are redeemed
in part pursuant to this Article Three, the resulting decrease in the amount of Securities of such series Outstanding represented thereby will be endorsed or notated thereon or on a schedule thereto by the Trustee or the Security Registrar
(if other than the Trustee) in accordance with Section 2.04. 
 SECTION 3.04. Redemption Suspended During Event of
Default. 
 No Securities of a series shall be redeemed (unless all such Securities of a series then Outstanding are to be redeemed) nor
shall any notice of redemption of Securities of a series be given during the continuance of any Event of Default with respect to such Securities of which a Responsible Officer of the Trustee has actual knowledge or of which the Trustee has notice as
described in Section 7.02(i) hereof, except that where the giving of notice of redemption of the Securities of a series shall theretofore have been made, the Trustee shall redeem such Securities, provided funds are
deposited with the Trustee for such purpose in accordance with the terms of this Indenture. Except as aforesaid, any money theretofore or thereafter received by the Trustee shall, during the continuance of such Event of Default of which a
Responsible Officer of the Trustee has actual knowledge or of which the Trustee has notice as described in Section 7.02(i), be held in trust for the benefit of the securityholders and applied in the manner set forth in
Section 6.06; provided, however, that in case such Event of Default shall have been waived as provided herein or otherwise cured, such money shall thereafter be held and applied in accordance with the
provisions of this Article. 
 SECTION 3.05. Repayment at the Option of Holders. 

The provisions of this Section 3.05 shall be applicable to Securities of a series that are subject to repayment at
the option of the holders thereof before their maturity, except as otherwise specified as contemplated by Section 2.03(b) for the Securities of such series. The terms of the Securities of such series may require a
holder to request a minimum amount or number of Securities to be repaid on any date fixed for repayment. 
 Notice and confirmation of a
required repayment by the Company of Securities of a series to be repaid as a whole or in part at the option of the holders shall be given by each holder in the manner and at the time specified in the terms of such Securities pursuant to
Section 2.03(b). The notice of repayment 

  
 21 

 
from each such holder shall specify the principal amount or number of each Security of such series held by such holder to be repaid and that arrangements will be made for the presentation and
surrender of such Securities and that on and after said date, interest thereon or on the portions thereof to be repaid will cease to accrue. 

On or before the repayment date specified in the terms of the Securities as provided for in this Section, the Company will deposit with the
Trustee or with one or more Paying Agents (or, if the Company is acting as its own Paying Agent, set aside, segregate and hold in trust as provided in Section 4.03) an amount of money sufficient to repay on the repayment
date all the Securities of such series submitted for repayment at the appropriate repayment price, together with accrued interest, if any, to the date fixed for repayment. 

If notice of election for repayment has been given by each holder as provided in this Section, the Securities of the series or portions of
Securities of the series specified in such notice shall become due and payable on the date and at the place set forth in the terms of such Securities at the applicable repayment price, together with interest accrued, if any, to the date fixed for
repayment, and on and after said date (unless the Company shall default in the payment of such Securities at the repayment price, together with interest accrued to said date, if any) interest on the Securities or portions of Securities so subject to
repayment shall cease to accrue, and, except as provided in Sections 6.06 and 12.02, such Securities shall, from and after the date fixed for repayment, cease to be entitled to any benefit or security under this Indenture, and the
holders thereof shall have no right in respect of such Securities except the right to receive the repayment price thereof and unpaid interest, if any, to the date fixed for repayment. On presentation and surrender of such Securities at a Place of
Payment specified in the terms of such Securities, those Securities or the specified portions thereof shall be paid and purchased by the Company at the applicable repayment price, together with interest accrued thereon, if any, to the date fixed for
repayment; provided that any payment of interest becoming due on or prior to the date fixed for repayment shall be to the holders of such Securities registered as such on the relevant record date subject to the terms and provisions of
Section 2.05 hereof. 
 ARTICLE FOUR 

PARTICULAR COVENANTS OF THE COMPANY AND THE GUARANTOR 

SECTION 4.01. Payment of Principal, Premium and Interest. 

The Company will duly and punctually pay or cause to be paid the principal of (and premium, if any, on) and any interest and other amounts due
(including any Additional Amounts) on each of the Securities of a series at the place, at the respective times and in the manner provided in the terms of the Securities and this Indenture. 

SECTION 4.02. Offices for Notices and Payments, etc. 

As long as any of the Securities remain Outstanding, the Company will maintain in each Place of Payment for such Securities an office or agency
where such Securities may be presented or surrendered for payment, where such Securities may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company or the Guarantor in respect of such Securities
and this Indenture may be served.
 The Company will give to the Trustee notice of the location of each such office or agency and of any
change in the location thereof. In case the Company shall fail to maintain any such office or agency as required, or shall fail to give such notice of the location or of any change in the location thereof,

  
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presentations and surrenders of any Securities may be made and notices and demands may be served at the Corporate Trust Office of the Trustee, and each of the Company and the Guarantor hereby
appoints the same as its agent to receive such respective presentations, surrenders, notices and demands. 
 The Company may also from time
to time designate one or more other offices or agencies where any series of Securities or any particular Securities of a series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations;
provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in accordance with the requirements set forth above for any Securities for such
purposes. The Company will give prompt written notice to the Trustee and the holders of any such designation or rescission and of any change in the location of any such other office or agency. 

With respect to any Global Security, and except as otherwise may be specified for such Global Security as contemplated by
Section 2.03(b), the Corporate Trust Office of the Trustee shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or exchange, or where successor
Securities may be delivered in exchange therefor, provided, however, that any such payment, presentation, surrender or delivery effected pursuant to the applicable procedures of the Depositary for such Global Security shall be deemed
to have been effected at the Place of Payment for such Global Security in accordance with the provisions of this Indenture. 
 SECTION 4.03.
Provisions as to Paying Agent. 
 (a) Whenever the Company shall appoint a Paying Agent other than the Trustee with respect to any
series of Securities or any particular Securities of a series, it will cause such Paying Agent to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section:

 (1) that it will hold sums held by it as such Paying Agent for the payment of the principal of (and premium, if any, on)
or any interest or other amounts due on such Securities (whether such sums have been paid to it by the Company or by any other obligor on such Securities) in trust for the benefit of the persons entitled thereto until such sums shall be paid to such
persons or otherwise disposed of as herein provided and will notify the Trustee of the receipt of sums to be so held; 
 (2)
that it will give the Trustee notice of any failure by the Company (or by any other obligor on the Securities of such series) to make any payment of the principal of (or premium, if any, on) or any interest or other amounts due on such Securities
when the same shall be due and payable; and 
 (3) that at any time when any such failure has occurred and is continuing, it
will, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 
 (b) If the
Company shall act as its own Paying Agent, it will, on or before each due date of the principal of (and premium, if any) or any interest or other amounts due on such Securities, set aside, segregate and hold in trust for the benefit of the persons
entitled thereto a sum sufficient to pay such principal (and premium, if any) or any interest or other amounts so becoming due until such sums shall be paid to such persons or otherwise disposed of as herein provided. The Company will promptly
notify the Trustee of any failure to take such action. 

  
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 (c) Whenever the Company shall have one or more Paying Agents with respect to any Securities, it
will, on or prior to each due date of the principal of (and premium, if any, on) or any interest or other amounts due on such Securities, deposit with a Paying Agent a sum sufficient to pay the principal (and premium, if any) or any interest or
other amounts, so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium, interest or other amounts due, and (unless such Paying Agent is the Trustee) the Company will promptly notify the
Trustee of its action or failure so to act. 
 (d) Anything in this Section to the contrary notwithstanding, the Company may, at any
time, for the purpose of obtaining the satisfaction and discharge of this Indenture with respect to one or more or all Securities hereunder, or for any other reason, pay or cause to be paid to the Trustee all sums held in trust for such Securities
by it or any Paying Agent hereunder as required by this Section, such sums to be held by the Trustee upon the trusts herein contained, 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. 
 (e) Anything in this Section to the contrary notwithstanding, the agreement to hold sums in
trust as provided in this Section is subject to the provisions of Sections 12.03 and 12.04. 
 SECTION 4.04. Statement as to
Compliance. 
 Each of the Company and the Guarantor will deliver to the Trustee, within 120 days after the end of each fiscal year of
the Company, commencing on April 30, 2017, a written statement signed by the Treasurer of the Company or the Guarantor, as the case may be, or an Authorized Officer of the Company or any Senior Vice President, Managing Director or other
appropriate officer serving under the Treasurer of the Guarantor, as the case may be, and by the principal executive officer, principal financial officer or principal accounting officer of the Company or the Guarantor, as the case may be, stating,
as to each signer thereof, that: 
 (a) a review of the activities of the Company or the Guarantor, as the case may be, during such year and
of performance under this Indenture has been made under his or her supervision; and 
 (b) to the best of his or her knowledge, based on such
review, the Company or the Guarantor, as the case may be, has fulfilled all its obligations under this Indenture throughout such year, or, if there has been a default in the fulfillment of any such obligation, specifying each such default known to
him or her and the nature and status thereof. 
 SECTION 4.05. Waiver of Covenants. 

The Company or the Guarantor may omit in any particular instance to comply with any covenant or condition set forth in this Indenture if before
or after the time for such compliance the holders of a majority in aggregate principal amount of all Outstanding Securities affected thereby, considered together as one class for this purpose (such affected Securities may be Securities of the same
or different series and, with respect to any particular series, may comprise fewer than all of the Securities of such series) shall either waive such compliance in such instance or generally waive compliance with such covenant or condition, but no
such waiver shall extend to or affect such covenant or condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company or the Guarantor, as applicable, and any duties of the Trustee
in respect of any such covenant or condition shall remain in full force and effect. 

  
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 SECTION 4.06. Limitation on Sale or Issuance of Capital Stock of Principal Subsidiary Bank. 

Subject to the provisions of Article Eleven, the Guarantor will not sell, assign, transfer or otherwise dispose of, or permit the
issuance of, or permit a subsidiary to sell, assign, transfer or dispose of, any shares of Capital Stock of, or any securities convertible into or options, warrants or rights to subscribe for or purchase shares of, Capital Stock of, any Principal
Subsidiary Bank or any subsidiary which owns shares of Capital Stock of, or any securities convertible into or options, warrants or rights to subscribe for or purchase shares of Capital Stock of, any Principal Subsidiary Bank, except: 

(a) any sale, assignment, transfer or other disposition or issuance made, in the minimum amount required by law, to any person for the purpose
of the qualification of such person to serve as a director; or 
 (b) any sale, assignment, transfer or other disposition or issuance for not
less than fair market value (as determined by the Board of the Guarantor, such determination being evidenced by a Board Resolution of the Guarantor, which determination shall be conclusive), if, after giving effect to such disposition and to
conversion of any shares or securities convertible into Capital Stock of a Principal Subsidiary Bank, the Guarantor would own directly or indirectly not less than 80% of each class of the Capital Stock of such Principal Subsidiary Bank (or any
successor thereto); or 
 (c) any sale, assignment, transfer or other disposition or issuance made in compliance with an order of a court or
regulatory authority of competent jurisdiction; or 
 (d) any sale by a Principal Subsidiary Bank (or any successor thereto) of additional
shares of its Capital Stock to its stockholders at any price, so long as (1) prior to such sale the Guarantor owns, directly or indirectly, shares of the same class and (2) immediately after such sale, the Guarantor owns, directly or indirectly, at
least as great a percentage of each class of Capital Stock of such Principal Subsidiary Bank as it owned prior to such sale of additional shares; or 

(e) any sale by a Principal Subsidiary Bank (or any successor thereto) of additional securities convertible into shares of its Capital Stock to
its stockholders at any price, so long as (1) prior to such sale the Guarantor owns, directly or indirectly, securities of the same class and (2) immediately after such sale the Guarantor owns, directly or indirectly, at least as great a percentage
of each class of such securities convertible into shares of Capital Stock of such Principal Subsidiary Bank as it owned prior to such sale of additional securities; or 

(f) any sale by a Principal Subsidiary Bank (or any successor thereto) of additional options, warrants or rights to subscribe for or purchase
shares of its Capital Stock to its stockholders at any price, so long as (1) prior to such sale the Guarantor owns, directly or indirectly, options, warrants or rights, as the case may be, of the same class and (2) immediately after such sale, the
Guarantor owns, directly or indirectly, at least as great a percentage of each class of such options, warrants or rights, as the case may be, to subscribe for or purchase shares of Capital Stock of a Principal Subsidiary Bank as it owned prior to
such sale of additional options, warrants or rights; or 
 (g) any issuance of shares of Capital Stock, or securities convertible into or
options, warrants or rights to subscribe for or purchase shares of Capital Stock, of a Principal Subsidiary Bank or any subsidiary which owns shares of Capital Stock, or securities convertible into, or options, warrants or rights to acquire Capital
Stock of any Principal Subsidiary Bank to the Guarantor or another Wholly Owned Subsidiary. 
 The Trustee shall have no duty or
responsibility to monitor compliance with this Section 4.06. 

  
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 SECTION 4.07. Notice of Default. 

Within five business days of its becoming aware of any Default or Event of Default, the Company shall file with the Trustee written notice of
the occurrence of any such Default or Event of Default setting forth the details of such Default or Event of Default. 
 SECTION 4.08. Determination
of Additional Amounts. 
 If any Securities of a series provide for the payment of Additional Amounts, the Company will pay to the holder
of any such Security Additional Amounts as provided therein. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of or any premium or interest on, or in respect of, any Security of any series or the net
proceeds received on the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment of Additional Amounts provided for in this Section to the extent that, in such context, Additional Amounts
are, were or would be payable in respect thereof pursuant to the provisions of this Section and express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall not be construed as excluding Additional Amounts
in those provisions hereof where such express mention is not made. 
 SECTION 4.09. Tax Matters. 

The Trustee shall be entitled to make all payments on any Securities net of any tax required to be withheld by applicable law. 

Each of the Company and the Trustee shall cooperate in providing the other party with such information that is reasonably requested in
connection with each party’s compliance with applicable law. 
 ARTICLE FIVE 

SECURITYHOLDER LISTS AND REPORTS BY THE COMPANY, THE GUARANTOR AND THE TRUSTEE 

SECTION 5.01. Securityholder Lists. 

The Company and the Guarantor will furnish or cause to be furnished to the Trustee (1) semiannually, not later than January 15 and
July 15 in each year, when any Securities of a series are Outstanding, a list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of such Securities as of such date, and (2) at such other times as the
Trustee may request in writing, within 30 calendar days after receipt by the Company and the Guarantor of any such request, a list, in such form as the Trustee may reasonably require, of the names and addresses of the holders of any particular
Securities or Securities of a particular series specified by the Trustee, in each case as of a date not more than 15 calendar days prior to the time such information is furnished; provided, however, that if and so long as the Trustee
shall be the Security Registrar with respect to any such Securities, such list shall not be required to be furnished. 
 SECTION 5.02. Preservation
and Disclosure of Lists; Communications Among Holders. 
 (a) The Trustee shall preserve, in as current a form as is reasonably
practicable, all information as to the names and addresses of the holders of Outstanding Securities contained in the most recent list furnished to it as provided in Section 5.01 or prepared by the Trustee in its capacity as
Security Registrar. The Trustee may destroy any list furnished to it as provided in Section 5.01 upon receipt of a new list so furnished. 

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

(c) Each and every holder of Securities, by receiving and holding the same, agrees with the Company, the Guarantor and the Trustee that neither
the Company, the Guarantor or the Trustee nor any agent of the Company, the Guarantor or the Trustee shall be deemed to be in violation of any law or shall be held accountable by reason of the disclosure of any such information as to the names and
addresses of the holders of Securities in accordance with the provisions of the Trust Indenture Act, regardless of the source from which such information was derived, and that the Trustee shall not be held accountable by reason of mailing any
material pursuant to a request made under the Trust Indenture Act. 
 SECTION 5.03. Reports by the Company and the Guarantor. 

So long as any Securities are Outstanding hereunder, the Company and the Guarantor shall file with the Trustee and the Commission and transmit
to the holders such information, documents and other reports, and such summaries thereof, as may be required by the Trust Indenture Act at the times and in the manner provided pursuant thereto; provided that any such information, documents or
reports filed electronically with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be deemed filed with, and delivered to, the Trustee and transmitted to the holders at the same time as filed with the Commission.
Delivery of such reports, information and documents to the Trustee and transmission thereof to the holders is for informational purposes only and shall not constitute a representation or warranty as to the accuracy or completeness of the reports,
information or documents. The Trustee’s receipt of such reports, information or documents shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company’s or the Guarantor’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to conclusively rely exclusively on an Officer’s Certificate of the Company or the Guarantor, as the case may be). 

SECTION 5.04. Reports by the Trustee. 

(a) The Trustee shall transmit to holders of any Outstanding Securities such reports concerning the Trustee and its actions under this
Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner provided pursuant thereto. If required by Section 313(a) of the Trust Indenture Act, the Trustee shall, on or about July 15, 2017 and on
or before 60 calendar days after May 15 of each year thereafter, so long as any Securities are Outstanding hereunder, deliver to the holders a brief report covering the preceding 12-month period that complies with the provisions of
Section 313(a) of the Trust Indenture Act. 
 (b) A copy of each such report shall, at the time of such transmission to holders of
Securities, be filed by the Trustee with any securities exchange upon which the Securities are listed and also with the Commission, the Company and the Guarantor. The Company agrees to promptly notify the Trustee when and as any Securities
become listed on any securities exchange and any delisting thereof. 

  
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 ARTICLE SIX 

REMEDIES 
 SECTION 6.01. Events of
Default; Acceleration of Maturity. 
 Except as may otherwise be provided pursuant to Section 2.03(b) for all
or any particular Securities of any series, “Event of Default,” wherever used herein with respect to such Securities, means any one of the following events (whatever the reason for such Event of Default and whether it be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(a) default in the payment of the principal of (or premium, if any, on) such Securities as and when the same shall become due and payable
either at maturity, upon redemption, by declaration or otherwise; or 
 (b) default in the payment of any installment of interest or other
amounts due (other than principal, premium, if any, or other amounts payable at maturity or upon redemption) upon such Securities as and when the same shall become due and payable, and continuance of such default for a period of 30 calendar days; or

 (c) failure on the part of the Company duly to observe or perform any other of the covenants or agreements on the part of the Company in
such Securities or in this Indenture contained for a period of 90 calendar days after the date on which written notice of such failure, requiring the Company to remedy the same, shall have been given to the Company by the Trustee, or to the Company
and the Trustee by the holders of at least 25 percent in aggregate principal amount of the Outstanding Securities affected thereby; or 

(d) a court having jurisdiction in the premises shall enter a decree or order for relief in respect of the Company in an involuntary case
under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect, or appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Company or for any substantial part of its
property, or ordering the winding-up or liquidation of its affairs and such decree or order shall remain unstayed and in effect for a period of 60 consecutive calendar days; or 

(e) the Company shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or hereafter in effect,
or shall consent to the entry of an order for relief in an involuntary case under any such law, or shall consent to the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian, sequestrator (or similar official)
of the Company or for any substantial part of its property, or shall make any general assignment for the benefit of creditors; or 
 (f) any
other Event of Default provided with respect to such Securities. 
 Unless otherwise specified as contemplated by
Section 2.03(b), if an Event of Default described in clause (a), (b), (c) or (f) shall have occurred and be continuing, then, and in each and every such case, unless the principal amount of any such Securities shall have
already become due and payable, either the Trustee or the holders of not less than 25 percent in aggregate principal amount of the Outstanding Securities affected thereby, by notice in writing to the Company and the Guarantor (and to the Trustee if
given by holders), may declare the principal amount (or, if any such affected Securities are Original Issue Discount Securities, such portion of the principal amount as may be specified in the terms of such

  
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Securities) of all the Outstanding Securities affected thereby to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable.
Unless otherwise specified as contemplated by Section 2.03(b), if an Event of Default described in clause (d) or (e) shall have occurred and be continuing, then, and in each and every such case, unless the principal of all
the Securities shall have already become due and payable, either the Trustee or the holders of not less than 25 percent in aggregate principal amount of all the Securities then Outstanding hereunder (treated as one class), by notice in writing to
the Company and the Guarantor (and to the Trustee if given by holders), may declare the principal (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities) of all the Securities
to be due and payable immediately, and upon any such declaration the same shall become and shall be immediately due and payable, anything in this Indenture or in the Securities contained to the contrary notwithstanding. 

No Event of Default with respect to any particular Securities of a series, except with respect to an Event of Default under
Section 6.01(d) or (e), shall constitute an Event of Default with respect to any other Securities (whether of the same or different series). 

For the avoidance of doubt, no Event of Default shall occur with respect to any Securities, and nothing herein contained shall be deemed to
authorize the Trustee to exercise any remedy against the Company or the Guarantor with respect to any Securities, in each case solely as a result of, or because it is related directly or indirectly to, the insolvency of the Guarantor or the
commencement of any proceedings relative to the Guarantor under the United States Federal bankruptcy laws, as now or hereafter constituted, or the appointment of a receiver for the Guarantor under Title II of the Dodd-Frank Wall Street Reform and
Consumer Protection Act of 2010 or the commencement of any other applicable United States Federal or State bankruptcy, insolvency, resolution or other similar law now or hereafter in effect, or solely as a result of, or because it is related
directly or indirectly to, the appointment of or taking possession by a receiver, liquidator, assignee, trustee, custodian or sequestrator (or similar official) of the Guarantor or for any substantial part of its property or solely as a result of,
or because it is related directly or indirectly to, the institution of any other comparable judicial or regulatory proceedings relative to the Guarantor, or to the creditors or property of the Guarantor. 

SECTION 6.02. Rescission and Annulment. 

Except as may otherwise be provided pursuant to Section 2.03(b) for all or any particular Securities of any series, the provisions in
Section 6.01 are subject to the condition that, if at any time after the principal of the Securities to which any one or more Events of Default are applicable shall have been so declared due and payable, and before any judgment or decree for
the payment of the money due shall have been obtained or entered as hereinafter provided, the Company shall pay or shall deposit with the Trustee a sum of money sufficient to pay all matured installments of interest or other amounts due on all such
Securities and the principal of (and premium, if any, on) (or, with respect to Original Issue Discount Securities, such lesser amount as may be specified in the terms of such Securities) all such Securities, which shall have become due otherwise
than by acceleration (with interest upon such principal and premium, if any) and, to the extent that payment of such interest is enforceable under applicable law, on overdue installments of interest, at the same rate as the rate of interest
specified in such Securities (or, with respect to Original Issue Discount Securities, at the rate specified in the terms of such Securities for interest on overdue principal thereof upon maturity, redemption or acceleration of such series, as the
case may be), to the date of such payment or deposit, and such amount as shall be sufficient to cover reasonable compensation to the Trustee, its agents, attorneys and counsel, and all other expenses and liabilities incurred, and all advances made,
by the Trustee except as a result of its negligence or bad faith, and any and all defaults under the Indenture, other than the nonpayment of the principal of such Securities which shall have become due by acceleration, shall have been remedied; then
and in every such case the holders of a majority in aggregate principal amount of such affected Securities then Outstanding, by 

  
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written notice to the Company, the Guarantor and the Trustee, may waive all defaults with respect to that series or with respect to all such affected Securities treated as a single class and
rescind and annul such declaration and its consequences; provided that no such waiver or rescission and annulment shall extend to or shall affect any subsequent default or shall impair any right consequent thereon. 

In case the Trustee shall have proceeded to enforce any right under this Indenture and such proceedings shall have been discontinued or
abandoned because of such rescission and annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the Company, the Trustee and the securityholders, as the case may be, shall be restored
respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company, the Trustee and the securityholders, as the case may be, shall continue as though no such proceedings had been taken. 

SECTION 6.03. Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if 

(1) default is made in the payment of any installment of interest or other amounts due (other than principal, premium, if any
or other amounts payable at maturity or upon redemption) on any Securities when such interest becomes due and payable and such default continues for a period of 30 calendar days, or 

(2) default is made in the payment of the principal or premium, if any, of any Securities at the maturity thereof, including
any maturity occurring by reason of a call for redemption or otherwise, 
 the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit
of the holders of such Securities, the whole amount that shall have become due and payable on such Securities for principal or premium, if any, and interest and other amounts due, with interest upon the overdue principal and, to the extent that
payment of such interest shall be legally enforceable, upon overdue installments of interest, at the rate borne by such Securities; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 If the Company fails
to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express trust, may institute a judicial proceeding for the collection of the sums so due and unpaid, and may prosecute such proceedings to judgment or
final decree, and may enforce the same against the Company or any other obligor upon the Securities and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or any other obligor upon
the Securities, wherever situated. 
 If an Event of Default occurs and is continuing, the Trustee may in its discretion proceed to protect
and enforce its rights and the rights of the securityholders by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any covenant or agreement
in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 SECTION 6.04. Trustee May File
Proofs of Claim. 
 In the case of the pendency of a receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement,
adjustment, composition or other judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or such other obligor or their creditors, the 

  
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Trustee (irrespective of whether the principal of the Securities shall then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall
have made any demand on the Company for the payment of overdue principal or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise: 

(i) to file and prove a claim for the whole amount of principal and premium, if any, and any interest owing and unpaid in
respect of the Securities and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel) and of the holders of Securities allowed in such judicial proceeding; and 
 (ii) to collect
and receive any money or other property payable or deliverable on any such claims and to distribute the same; 
 and any receiver, assignee, trustee,
liquidator or sequestrator (or other similar official) in any such judicial proceeding is hereby authorized by each holder of Securities 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 of Securities, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under
Section 7.06. To the extent that such payment of reasonable compensation, expenses, disbursements, advances and other amounts out of the estate in any such proceedings shall be denied for any reason, payment of the
same shall be secured by a lien on, and shall be paid out of, any and all distributions, dividends, moneys, securities and other property which the holders of the Securities may be entitled to receive in such proceedings, whether in liquidation or
under any plan or reorganization or arrangements or otherwise. 
 Nothing herein contained shall be deemed to authorize the Trustee to
authorize or consent to or accept or adopt on behalf of the holder of a Security any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any holder thereof, or to authorize the Trustee to vote in
respect of the claim of any holder of a Security in any such proceeding. 
 SECTION 6.05. Trustee May Enforce Claims Without Possession of
Securities. 
 All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee
without the possession of any of the Securities 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 Securities in respect of which such judgment has been
recovered. 
 SECTION 6.06. Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the Trustee
and, in case of the distribution of such money on account of principal or premium, if any, or any interest or other amounts due, upon presentation of the Securities 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 7.06; 
 SECOND: To the payment of the amounts then due and unpaid upon the Securities
for principal of and premium, if any, and any interest and other amounts due on the Securities, in 

  
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respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities, for
principal and any interest, respectively; and 
 THIRD: To the Company or its successors or assigns, or to whomsoever
may be lawfully entitled to receive the same. 
 SECTION 6.07. Limitation on Suits. 

No holder of any Securities shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture, or for the
appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (1) such holder has previously given
written notice to the Trustee of a continuing Event of Default with respect to such Securities; 
 (2) the holders of not
less than 25% in principal amount of such Securities 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; 

(3) such holder or holders have offered to the Trustee indemnity reasonably satisfactory to the Trustee against the costs,
expenses and liabilities to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of
such notice, request and offer of indemnity has failed to institute any such proceedings; and 
 (5) no direction
inconsistent with such written request has been given to the Trustee during such 60-day period by the holders of a majority in principal amount of such Securities then Outstanding; 

it being understood and intended that no one or more holders of any Securities shall have any right in any manner whatever by virtue of, or by availing of,
any provision of this Indenture to affect, disturb or prejudice the rights of any other such holder of Securities or to obtain or to seek to obtain priority or preference over any other such holder or to enforce any right under this Indenture,
except in the manner herein provided and for the equal and ratable benefit of all such holders of Securities. 
 SECTION 6.08. Unconditional Right
of Securityholders to Receive Principal and Interest. 
 Notwithstanding any other provision in this Indenture, the holder of any
Security shall have the right, which is absolute and unconditional, to receive payment of the principal of and premium, if any, and (subject to Sections 2.05 and 3.02) any interest or other amounts due on such Security on the
respective stated maturities expressed in such Security (or, in the case of redemption, on the redemption date) and to institute suit for the enforcement of any such payment, and such right shall not be impaired without the consent of such holder.

 SECTION 6.09. Restoration of Rights and Remedies. 

If the Trustee or any holder of a Security has instituted any proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such holder, then and in every such case the Company, 

  
 32 

 
the Trustee and the holders of Securities shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder, and thereafter all
rights and remedies of the Trustee and the holders shall continue as though no such proceeding has been instituted. 
 SECTION 6.10. Rights and
Remedies Cumulative. 
 Except as provided in Section 2.09, no right or remedy herein conferred upon or
reserved to the Trustee or to the holders of Securities is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or
remedy. 
 SECTION 6.11. Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any holder of any Security to exercise any right or remedy accruing upon any Default shall impair any
such right or remedy or constitute a waiver of any such Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the holders of Securities may be exercised from time to time, and as often
as may be deemed expedient, by the Trustee or by the holders of Securities. 
 SECTION 6.12. Control by Securityholders. 

The holders of a majority in principal amount of the Outstanding Securities affected thereby 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, provided that 

(1) such direction shall not be in conflict with any statute or rule of law or with this Indenture; 

(2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such direction; and 

(3) the Trustee need not take any action which it in good faith determines might involve it in personal liability or be
unjustly prejudicial to the securityholders not consenting. 
 SECTION 6.13. Waiver of Past Defaults. 

Except as may otherwise be provided as contemplated by Section 2.03(b) for all or any particular Securities of any
series, the holders of a majority in aggregate principal amount of the Outstanding Securities affected thereby may, on behalf of the holders of all such affected Securities, waive any past default hereunder and its consequences, except a default

 (1) in the payment of the principal of, premium, if any, or any interest or other amounts due on any such Securities; or

 (2) in respect of a covenant or provision hereof that pursuant to Article Ten cannot be modified or amended without
the consent of the holder of each Outstanding Security affected. 
 Upon any such waiver, such default shall cease to exist with respect to such Securities,
and any Default or Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture, but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

  
 33 

 SECTION 6.14. Undertaking for Costs. 

All parties to this Indenture agree, and each holder of any Security, by such holder’s acceptance thereof, shall be deemed to have agreed,
that any court may in its discretion require, in any 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; provided, however, the provisions of this Section shall not apply 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 in principal amount of the Outstanding Securities affected thereby, or to any suit instituted by any holder of any Securities for the enforcement of the payment of the principal of, premium,
if any, any interest or other amounts payable on such Securities on or after the respective stated maturities expressed in such Securities (or, in the case of redemption, on or after the redemption date, except, in the case of a partial redemption,
with respect to the portion not so redeemed). 
 SECTION 6.15. Waiver of Stay or Extension Laws. 

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

CONCERNING THE TRUSTEE 
 SECTION 7.01.
Duties and Responsibilities of Trustee. 
 (a) The Trustee, prior to the occurrence of an Event of Default with respect to any
Securities and after the curing of all Events of Default of such Securities which may have occurred, undertakes to perform such duties and only such duties with respect to such Securities as are specifically set forth in this Indenture and no
implied covenants or obligations shall be read into this Indenture against the Trustee and, in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required
to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or
other facts stated therein). 
 (b) In case an Event of Default with respect to any Securities series has occurred (which has not been
cured), the Trustee shall exercise with respect to such Securities such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the
circumstances in the conduct of his or her own affairs. 

  
 34 

 (c) No provisions of this Indenture shall be construed to relieve the Trustee from liability for
its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (1) prior to the
occurrence of an Event of Default with respect to any Securities and after the curing of all Events of Default with respect to such Securities which may have occurred, the duties and obligations of the Trustee with respect to such Securities shall
be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Indenture, and no implied covenants or obligations
shall be read into this Indenture against the Trustee; 
 (2) the Trustee shall not be liable for any error of judgment made
in good faith by a Responsible Officer or Officers, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; and 

(3) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance
with the direction of the holders of Securities pursuant to Section 6.12 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. 
 (d) No provision of this Indenture shall be construed as requiring the Trustee to
expend or risk its own funds or otherwise to incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such
funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
 (e) Whether or not therein expressly so
provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 7.01. 

SECTION 7.02. Certain Rights of the Trustee. 

Subject to the provisions of Section 7.01: 

(a) the Trustee may conclusively rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, bond, debenture, note, coupon 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, direction, order or demand of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company
Order (unless other evidence in respect thereof be herein specifically prescribed); and any Board Resolution of the Company or the Guarantor may be evidenced to the Trustee by a copy thereof certified by the Secretary or any Assistant Secretary of
the Company or the Guarantor, as the case may be; and whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the
Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officer’s Certificate of the Company or the Guarantor, as the case may be; 

  
 35 

 (c) the Trustee may consult with counsel of its selection and the advice of such counsel or any
Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon in accordance with such advice of its counsel or any relevant
Opinion of Counsel; 
 (d) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture
at the request, order or direction of any of the holders of any Securities pursuant to the provisions of this Indenture, unless such holders shall have offered to the Trustee security or indemnity reasonably satisfactory to the Trustee against the
costs, expenses and liabilities which might be incurred therein or thereby; 
 (e) the Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or documents, 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 in its discretion to make such further inquiry or investigation, it shall be entitled to examine the books, records and
premises of the Company, personally or by agent or attorney, and the Company shall reimburse the Trustee for reasonable expenses of such inquiry or investigation made at the Trustee’s discretion; 

(f) 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; 

(g) the Trustee shall not be liable for any action taken, suffered or omitted to be taken by it in good faith and believed by it to be
authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (h) in no event shall the Trustee be
responsible or liable for special, indirect, 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; 
 (i) the Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Responsible Officer of the Trustee has actual knowledge thereof or written notice of any event which is in fact such a Default or Event of Default is received by the Trustee at the Corporate Trust Office of the Trustee, and, if such notice is
delivered by the Company, such notice references the Securities and this Indenture; 
 (j) 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 

(k) the Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers of the
Company authorized at such time to take specified actions pursuant to this Indenture. 

  
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 SECTION 7.03. No Responsibility for Recitals, etc. 

The recitals contained herein and in the Securities, other than the Trustee’s certificate of authentication, shall be taken as the
statements of the Company or the Guarantor, as the case may be, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the
Securities (other than the Trustee’s certificate of authentication thereon). The Trustee shall not be accountable for the use or application by the Company of Securities or the proceeds thereof. 

SECTION 7.04. Ownership of Securities. 

The Trustee, any authenticating agent, any Paying Agent, any Security Registrar or any other agent of the Company or the Guarantor or of the
Trustee, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 7.08(b) and 7.12, may otherwise deal with the Company or the Guarantor with the same rights it would have if it
were not Trustee, authenticating agent, Paying Agent, Security Registrar or such other agent of the Company or the Guarantor or of the Trustee. 

SECTION 7.05. Money to be Held in Trust. 

Subject to the provisions of Section 12.04 hereof, all money received by the Trustee or any Paying Agent shall, until
used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated from other funds, except to the extent required by law. Neither the Trustee nor any Paying Agent shall be under any
liability for interest on any money received by it hereunder except such as it may agree in writing with the Company to pay thereon. 
 SECTION 7.06.
Compensation and Expenses of Trustee. 
 The Company and the Guarantor, jointly and severally, covenant and agree to pay to the
Trustee from time to time, and the Trustee shall be entitled to, such compensation for all services rendered by it hereunder as the Company, the Guarantor and the Trustee shall from time to time agree in writing (which to the extent permitted by law
shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust), and, except as otherwise expressly provided, the Company or the Guarantor, as the case may be, will pay or reimburse the Trustee forthwith
upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its
counsel and of all persons not regularly in its employ) except any such expense, disbursement or advance as may arise from the Trustee’s negligence, willful misconduct or bad faith. If any property other than cash shall at any time be
subject to the lien of this Indenture, the Trustee, if and to the extent authorized by a receivership or bankruptcy court of competent jurisdiction or by the supplemental instrument subjecting such property to such lien, shall be entitled to make
and to be reimbursed for, advances for the purpose of preserving such property or of discharging tax liens or other prior liens or encumbrances thereon. The Company and the Guarantor, jointly and severally, also covenant to indemnify the
Trustee and any predecessor Trustee for, and to hold them harmless against, any and all loss, damage, claims, liability or expense, including taxes (other than taxes based upon or measured or determined by the income of the Trustee) incurred without
negligence, willful misconduct or bad faith on its part, arising out of or in connection with the acceptance or administration of this Indenture or the trusts hereunder, including the costs and expenses of defending itself against any claim of
liability in connection with the exercise or performance of any of its powers or duties hereunder. The obligations of the Company and the Guarantor under this Section shall constitute additional indebtedness hereunder. Such additional
indebtedness shall be secured by a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities. 

  
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 To secure the Company’s and the Guarantor’s obligations under this Section, the Trustee
shall have a senior claim to which the Securities are hereby made subordinate on all money or property held or collected by the Trustee, except that held in trust to pay principal of (and premium, if any) and any interest or other amounts due on
particular Securities. 
 When the Trustee incurs expenses or renders services after an Event of Default, the expenses and the compensation
for the services are intended to constitute expenses of administration under any applicable bankruptcy, insolvency or similar law. 
 SECTION 7.07.
Officer’s Certificate as Evidence. 
 Subject to the provisions of Section 7.01, whenever
in the administration of the provisions of this Indenture the Trustee shall deem it necessary or desirable that a matter be proved or established prior to taking or suffering any action to be taken hereunder, such matter (unless other evidence in
respect thereof be herein specifically prescribed) may, in the absence of negligence or bad faith on the part of the Trustee, be deemed to be conclusively proved and established by an Officer’s Certificate of the Company or the Guarantor, as
the case may be, delivered to the Trustee, and such certificate, in the absence of negligence or bad faith on the part of the Trustee, shall be full warrant to the Trustee for any action taken, suffered or omitted by it under the provisions of this
Indenture upon the faith thereof. 
 SECTION 7.08. Eligibility of Trustee; Disqualification. 

(a) The Trustee for all Securities hereunder shall at all times be a corporation organized and doing business under the laws of the United
States of America or of any State or the District of Columbia having a combined capital and surplus of at least $50,000,000, and which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by
United States Federal, State or District of Columbia authority. Such corporation shall have its principal place of business in the United States of America. If such corporation publishes reports of condition at least annually, pursuant to law or to
the requirements of the aforesaid supervising or examining authority, then, for the purposes of this 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. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, the Trustee shall resign immediately in the manner and with the effect specified in
Section 7.09. 
 The provisions of this Section 7.08(a) are in furtherance of and
subject to Section 310(a) of the Trust Indenture Act of 1939. 
 (b) The Trustee shall comply with Section 310(b) of the Trust
Indenture Act. If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner provided by, and subject to the
provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under this Indenture with respect to
Securities of more than one series or a trustee under any other indenture, a Paying Agent under any paying agency agreement, a fiscal agent under any fiscal agency agreement or a warrant agent under any warrant agreement, of the Company or the
Guarantor.

  
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 SECTION 7.09. Resignation or Removal of Trustee. 

(a) The Trustee, or any trustee or trustees hereafter appointed, may at any time resign with respect to any particular Securities or the
Securities of one or more or all series by giving at least 30 calendar days’ written notice of resignation to the Company. Upon receiving such notice of resignation, the Company shall promptly appoint a successor trustee with respect to
the applicable Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the resigning Trustee and one copy to the successor trustee. If no
successor trustee shall have been so appointed and have accepted appointment within 30 calendar days after the mailing of such notice of resignation, the resigning Trustee may petition any court of competent jurisdiction for the appointment of a
successor trustee. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(b) In case at any time any of the following shall occur: 

(1) the Trustee shall fail to comply with the provisions of Section 310(b) of the Trust Indenture Act with respect to any
Securities after written request therefor by the Company or by any securityholder who has been a bona fide holder of such Securities for at least six months, or 

(2) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.08 with
respect to any Securities and shall fail to resign after written request therefor by the Company or by any such securityholder, or 

(3) the Trustee shall become incapable of acting with respect to any Securities, 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, the Company may remove the Trustee with respect to the applicable Securities and appoint a successor trustee with respect to such
Securities by written instrument, in duplicate, executed by order of the Board of Directors of the Company, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, subject to the
provisions of Section 6.14, any securityholder of such Securities who has been a bona fide holder of such Securities for at least six months may, on behalf of himself or herself and all others similarly situated, petition
any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee with respect to such Securities. Such court may thereupon, after such notice, if any, as it may deem proper and prescribe, remove the
Trustee and appoint a successor trustee. 
 (c) The holders of a majority in aggregate principal amount of the Securities of all series
(voting as one class) at the time Outstanding may at any time remove the Trustee with respect to Securities of all series by giving at least 30 calendar days’ written notice to the Company, the Guarantor and the Trustee and appoint a successor
trustee with respect to the Securities of all series. 
 (d) Any resignation or removal of the Trustee and any appointment of a successor
trustee pursuant to any of the provisions of this Section shall become effective upon the appointment of a successor trustee and the acceptance of appointment by the successor trustee as provided in Section 7.10. 

SECTION 7.10. Acceptance by Successor Trustee. 

Any successor trustee appointed as provided in Section 7.09 shall execute, acknowledge and deliver to the Company and
the Guarantor and to its predecessor trustee an instrument accepting such 

  
 39 

 
appointment hereunder, and thereupon the resignation or removal of the predecessor trustee with respect to the applicable Securities shall become effective and such successor trustee, without any
further act, deed or conveyance, shall become vested with all the rights, powers, duties and obligations with respect to such series of its predecessor hereunder, with like effect as if originally named as trustee herein; but, nevertheless, on the
written request of the Company or of the successor trustee, the predecessor trustee shall, upon payment of any amounts then due it pursuant to the provisions of Section 7.06, execute and deliver an instrument transferring
to such successor trustee all the rights and powers of the predecessor trustee. Upon request of any such successor trustee, the Company and the Guarantor shall execute any and all instruments in writing in order more fully and certainly to vest
in and confirm to such successor trustee all such rights and powers. Any trustee, including the initial Trustee, ceasing to act shall, nevertheless, retain a lien upon all property or funds held or collected by such trustee to secure any
amounts then due it pursuant to the provisions of Section 7.06. 
 In case of the appointment hereunder of a
successor trustee with respect to certain (but not all) Securities hereunder, the Company, the Guarantor, the predecessor Trustee and each successor trustee with respect to the applicable Securities shall execute and deliver an indenture
supplemental hereto which shall contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the predecessor Trustee with respect to the Securities as to which the predecessor Trustee
is not retiring shall continue to be vested in the predecessor Trustee, and shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one
trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such trustees co-trustees of the same trust and that each such trustee shall be trustee of a trust or trusts hereunder separate and apart from any
trust or trusts hereunder administered by any other such trustee. 
 No successor trustee shall accept appointment as provided in this
Section unless at the time of such acceptance such successor trustee shall be qualified and eligible under the provisions of this Article Seven. 

Upon acceptance of appointment by a successor trustee as provided in this Section, the Company shall provide notice of the succession of such
trustee hereunder to all holders of the applicable Securities in the manner described in Section 16.04. If the Company fails to provide such notice in the prescribed manner within ten days after the acceptance of
appointment by the successor trustee, the successor trustee shall cause such notice to be provided in the manner described in Section 16.04 at the expense of the Company. 

SECTION 7.11. Successor by Merger, etc. 

Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any
merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such
corporation shall be qualified and eligible under the provisions of this Article Seven, without the execution or filing of any paper or any further act on the part of any of the parties hereto, anything herein to the contrary
notwithstanding. In case any Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and
deliver the Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. 

  
 40 

 SECTION 7.12. Limitations on Rights of Trustee as Creditor. 

If and when the Trustee shall be or become a creditor of the Company or the Guarantor (or any other obligor upon the Securities), the Trustee
shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company or the Guarantor (or any such other obligor). 

SECTION 7.13. Notice of Default. 

Within 90 calendar days after the occurrence of any default on any Securities hereunder, the Trustee shall transmit to all securityholders of
such Securities, in the manner and to the extent provided in Section 16.04, 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 interest on any Security or on the payment of any sinking or purchase fund installment, the Trustee shall be protected in withholding such notice if and so long as the trust
committee of directors and/or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interests of the securityholders; and provided, further, that in the case of any default of the character
specified in clause (c) of Section 6.01 no such notice to securityholders shall be given until at least 30 calendar days after the occurrence thereof.

SECTION 7.14. Appointment of Authenticating Agent. 

The Trustee may appoint, with the approval of the Company and the Guarantor, an authenticating agent or agents (which may be an affiliate or
affiliates of the Company) with respect to any Securities which shall be authorized to act on behalf of the Trustee to authenticate such Securities issued upon original issue or upon exchange, registration of transfer or partial redemption thereof
or pursuant to Section 2.09, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. Wherever
reference is made in this Indenture to the authentication and delivery of Securities 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. Unless otherwise agreed by the Trustee, the Company and the Guarantor, each authenticating agent shall be acceptable to
the Company and the Guarantor and shall be a corporation having at all times a combined capital and surplus of not less than $50,000,000 and that is subject to supervision or examination by United States Federal or State or District of Columbia
authority, or the equivalent foreign authority in the case of an authenticating agent that is not organized and doing business under the laws of the United States of America or any State thereof or of the District of Columbia. If such
authenticating agent publishes reports of condition at least annually, pursuant to any applicable 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
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.
 Any
corporation into which an authenticating agent may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which such authenticating agent shall be a party, or any
corporation succeeding to the corporate agency or corporate trust business of such 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 such authenticating agent. 

  
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 An authenticating agent may resign at any time by giving written notice thereof to the Trustee
and to the Company and the Guarantor. 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 and shall promptly give notice of such appointment to all holders of Securities in the manner and to the extent provided in Section 16.04. 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 as may be agreed by the Company and such authenticating agent. 
 If an appointment of an authentication
agent with respect to any Securities is made pursuant to this Section, the certificate of authentication to be borne by such Securities shall be substantially in the following form: 

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

 

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

as Trustee

				
	Dated:	 		 	By:	 	                                     
                       , as
		 		 		 	Authenticating Agent

  

			
	By:	 	  

		 	 Authorized Signatory

 If all of the Securities of a series may not be originally issued at one time, and the Trustee does not
have an office capable of authenticating Securities upon original issuance located in a Place of Payment where the Company wishes to have Securities of such series authenticated upon original issuance, the Trustee, if so requested by the Company in
writing, shall appoint in accordance with this Section an authenticating agent (which, if so requested by the Company, shall be such affiliate of the Company or the Guarantor) having an office in a Place of Payment designated by the Company
with respect to such Securities, provided that the terms and conditions of such appointment are acceptable to the Trustee. 
 ARTICLE EIGHT

 CONCERNING THE SECURITYHOLDERS 

SECTION 8.01. Action by Securityholders. 

Whenever in this Indenture it is provided that the holders of a specified percentage in aggregate principal amount of the Securities of any or
all series may take any action (including the making of any demand or request, the giving of any authorization, notice, consent or waiver or the taking of any other 

  
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action), the fact that at the time of taking any such action the holders of such specified percentage have joined therein may be evidenced (a) by any instrument or any number of instruments of
similar tenor executed by securityholders in person or by agent or proxy duly appointed in writing, or (b) by the record of the holders of Securities voting in favor thereof, either in person or by proxies duly appointed in writing, at any meeting
of securityholders of such Securities duly called and held in accordance with the provisions of Article Nine, or (c) by a combination of such instrument or instruments and any such record of such a meeting of securityholders. 

In determining whether the holders of a specified percentage in aggregate principal amount of the Securities of any or all series have taken
any action (including the making of any demand or request, the giving of any authorization, direction, notice, consent or waiver or the taking of any other action), (i) the principal amount of any Original Issue Discount Security that may be counted
in making such determination and that shall be deemed to be outstanding for such purposes shall be equal to the amount of the principal thereof that could be declared to be due and payable upon an Event of Default pursuant to the terms of such
Original Issue Discount Security at the time the taking of such action is evidenced to the Trustee, and (ii) the principal amount of a Security denominated in a foreign currency or currency unit shall be the U.S. Dollar equivalent, determined as of
the date of original issuance of such Security in accordance with Section 2.03(b) hereof, of the principal amount of such Security. 

SECTION 8.02. Proof of Execution by Securityholders. 

Subject to the provisions of Section 7.01, 7.02 and 9.05, proof of the execution of any instrument by a
securityholder or its agent or proxy, or of the holding by any Person of a Security, shall be sufficient and conclusive in favor of the Trustee and the Company if made in accordance with such reasonable rules and regulations as may be prescribed by
the Trustee or in such manner as shall be satisfactory to the Trustee. 
 The principal amount and serial numbers of Securities held by any
Person, and the date of holding the same, shall be proved by the Security Register.
 The record of any securityholders’ meeting shall
be proved in the manner provided in Section 9.06. 
 SECTION 8.03. Who Are Deemed Absolute Owners. 

Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or of the Trustee
may deem the person in whose name such Security shall be registered upon the Security Register to be, and may treat him or her as, the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notation of
ownership or other writing thereon), for the purpose of receiving payment of or on account of the principal of (and premium, if any) and, subject to the provisions of Sections 2.05 and 2.07, any interest on such Security and for all
other purposes; and neither the Company nor the Trustee nor any agent of the Company or of the Trustee shall be affected by any notice to the contrary. All such payments so made to any holder for the time being, or upon his or her order, shall
be valid and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for moneys payable upon any such Security. 

Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company, the Guarantor, the Trustee, or
any agent of the Company, the Guarantor or of the Trustee, from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and holders of interests in any Global
Security, as the case may be, the operation of customary practices governing the exercise of the rights of the Depositary as holder of such Global Security. 

  
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 SECTION 8.04. Company-Owned Securities Disregarded. 

In determining whether the holders of the required aggregate principal amount of Securities have provided any request, demand, authorization,
notice, direction, consent or waiver under this Indenture, Securities which are owned by the Company, the Guarantor or any other obligor on the Securities, or by any person directly or indirectly controlling or controlled by or under direct or
indirect common control with the Company, the Guarantor or any other obligor on the Securities, shall be disregarded and deemed not to be Outstanding for the purpose of any such determination, except that for the purpose of determining whether the
Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver, only Securities which the Trustee actually knows are so owned shall be so disregarded. Securities so owned which have been
pledged in good faith may be regarded as Outstanding for the purposes of this Section if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to vote such Securities and that the pledgee is not a person
directly or indirectly controlling or controlled by or under direct or indirect common control with the Company, the Guarantor or any such other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the
advice of counsel shall be full protection to the Trustee. 
 SECTION 8.05. Revocation of Consents; Future Securityholders Bound. 

At any time prior to the taking of any action by the holders of the percentage in aggregate principal amount of the Securities specified in
this Indenture in connection with such action, any holder of a Security, the identifying number of which is shown by the evidence to be included in the Securities the holders of which have consented to such action, may, by filing written notice with
the Trustee at its office and upon proof of holding as provided in Section 8.02, revoke such action so far as concerns such Security. Except as aforesaid any such action taken by the holder of any Security shall be
conclusive and binding upon such holder and upon all future holders and owners of such Security and of any Security issued upon registration of transfer of or in exchange or substitution therefor in respect of anything done, omitted or suffered to
be done by the Trustee, the Company or the Guarantor in reliance thereon, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the percentage in aggregate principal amount
of the Securities specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Guarantor, the Trustee and the holders of all the Securities. 

SECTION 8.06. Record Date. 
 The
Company may, but shall not be obligated to, set a record date for purposes of determining the identity of holders of Securities of any series entitled to vote or consent to any action by vote or consent or to otherwise take any action under this
Indenture authorized or permitted by Section 6.12 or Section 6.13 or otherwise under this Indenture. Such record date shall be the later of the date 20 calendar days prior to the first
solicitation of such consent or vote or other action or the date of the most recent list of holders of such Securities delivered to the Trustee pursuant to Section 5.01 prior to such solicitation. If such a record date
is fixed, those persons who were holders of such Securities at the close of business on such record date shall be entitled to vote or consent or take such other action, or to revoke any such action, whether or not such persons continue to be holders
after such record date, and for that purpose the Outstanding Securities shall be computed as of such record date. 

  
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 ARTICLE NINE 

SECURITYHOLDERS’ MEETINGS 

SECTION 9.01. Purposes of Meeting. 

A meeting of holders of any or all series of Securities may be called at any time and from time to time pursuant to the provisions of this
Article for any of the following purposes: 
 (a) to give any notice to the Company, the Guarantor or to the Trustee, or to give any
directions to the Trustee, or to waive any default hereunder and its consequences, or to take any other action authorized to be taken by securityholders pursuant to any of the provisions of Article Six; 

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

(c) to consent to the execution of an indenture or indentures supplemental hereto pursuant to the provisions of
Section 10.02; or 
 (d) to take any other action authorized to be taken by or on behalf of the holders of any
specified aggregate principal amount of the Securities of any or all series, as the case may be, under any other provision of this Indenture or under applicable law. 

SECTION 9.02. Call of Meetings by Trustee. 

The Trustee may at any time call a meeting of securityholders of any or all series to take any action specified in
Section 9.01, to be held at such time and at such place as the Trustee shall determine. Notice of every meeting of the securityholders of any or all series, setting forth the time and 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 16.04 not less than 20 nor more than 180 calendar days prior to the date fixed for the meeting. 

SECTION 9.03. Call of Meetings by Company or Securityholders. 

In case at any time the Company, pursuant to a Board Resolution, or the holders of at least ten percent in aggregate principal amount of the
Securities of any or all series, as the case may be, then Outstanding, shall have requested the Trustee to call a meeting of securityholders of any or all series to take any action authorized in Section 9.01, by written
request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have provided notice of such meeting in the manner provided in Section 16.04 within 30 calendar days after
receipt of such request, then the Company or the holders of such Securities in the amount above specified may determine the time and the place for such meeting and may call such meeting by giving notice thereof as provided in
Section 9.02. 
 SECTION 9.04. Qualifications for Voting. 

To be entitled to vote at any meeting of securityholders a person shall be a holder of one or more Securities of such series Outstanding with
respect to which a meeting is being held or a person appointed by an instrument in writing as proxy by such a holder or holders. The only persons who shall be entitled to be present or to speak at any meeting of the securityholders of any
series shall be the persons entitled to vote at such meeting and their counsel and any representatives of the Trustee and its counsel and any representatives of the Company, the Guarantor and their counsel. 

  
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 SECTION 9.05. Regulations. 

Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable for any
meeting of securityholders of a series, in regard to proof of the holding of Securities and of the appointment of proxies, and in regard to the appointment and duties of inspectors of votes, the submission and examination of proxies, certificates
and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall think fit. Except as otherwise permitted or required by any such regulations, the holding of Securities shall be proved in the
manner specified in Article Eight and the appointment of any proxy shall be proved in the manner specified in Article Eight or by having the signature of the person executing the proxy witnessed or guaranteed by any trust company, bank
or banker authorized by Article Eight to certify to the holding of Securities. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and genuine without the
proof specified in Article Eight or other proof. 
 The Trustee shall, by an instrument in writing, appoint a temporary chairman
of the meeting, unless the meeting shall have been called by the Company or by securityholders as provided in Section 9.03, in which case the Company or the securityholders calling the meeting, as the case may be, shall in
like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the holders of a majority in principal amount of the Securities represented at the meeting and entitled to vote.

 Subject to the provisions of Sections 8.01 and 8.04, at any meeting each securityholder or proxy shall be entitled to one
vote for each $1,000 (or the U.S. Dollar equivalent thereof in connection with Securities issued in a foreign currency or currency unit) Outstanding principal amount of Securities of such series held or represented by him or her; provided,
however, that no vote shall be cast or counted at any meeting in respect of any Security challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to
vote except as a securityholder or proxy. Any meeting of securityholders duly called pursuant to the provisions of Section 9.02 or 9.03 may be adjourned from time to time, and the meeting may be reconvened
without further notice. 
 SECTION 9.06. Voting. 

The vote upon any resolution submitted to any meeting of securityholders shall be by written ballot on which shall be subscribed the signatures
of the securityholders or proxies and on which shall be inscribed the identifying number or numbers or to which shall be attached a list of identifying numbers of the Securities held or represented by them. The chairman of the meeting shall
appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the secretary of the meeting their verified written reports in duplicate of all votes cast at the
meeting. A record in duplicate of the proceedings of each meeting of securityholders shall be prepared by the secretary of the meeting and there shall be attached to said record the original reports of the inspectors of votes on any vote by
ballot taken thereat and affidavits by one or more persons having knowledge of the facts setting forth a copy of the notice of the meeting and showing that said notice was mailed as provided in Section 9.02. The record
shall be signed and verified by the chairman and secretary of the meeting and one of the duplicates shall be delivered to the Company and the other to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted
at the meeting. 
 Any record so signed and verified shall be conclusive evidence of the matters therein stated. 

  
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 ARTICLE TEN 

SUPPLEMENTAL INDENTURES 
 SECTION 10.01.
Supplemental Indentures without Consent of Holders. 
 Without the consent of any holders of Securities, the Company and the
Guarantor, when authorized by or pursuant to a Board Resolution of their respective Boards, and the Trustee may from time to time and at any time enter into an indenture or indentures supplemental hereto for one or more of the following purposes:

 (a) to evidence the merger or consolidation of the Company or the Guarantor with or into any other Person or the sale, conveyance or
transfer of substantially all the assets of the Company or the Guarantor to any other Person, in each case pursuant to Article Eleven hereof, and the assumption by any such successor of the covenants, agreements and obligations of the
Company or the Guarantor, as the case may be, herein and in the Securities, and in the case of the merger of the Company with and into the Guarantor, to evidence the elimination of the Guarantee and related provisions hereof; 

(b) to add to the covenants of the Company or the Guarantor such further covenants, restrictions, conditions or provisions, to make the
occurrence, or the occurrence and continuance, of a default in any of such additional covenants, restrictions, conditions or provisions an Event of Default permitting the enforcement of all or any of the several remedies provided in this Indenture
as herein set forth, with such period of grace, if any, and subject to such conditions as such supplemental indenture may provide, for the benefit of the holders of all or any Securities of any series (and if for the benefit of the holders of less
than all Securities of any series, stating that such additional covenants, restrictions, conditions, provisions or Event of Default are expressly being included solely for the benefit of such Securities within such series), or to surrender any right
or power herein conferred upon the Company or the Guarantor with regard to all or any Securities of any series (and if any such surrender is to be made with regard to less than all Securities of any series, stating that such surrender is expressly
being made solely with regard to such Securities within such series); 
 (c) to add to or change any of the provisions of this Indenture to
such extent as shall be necessary to permit or facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in
uncertificated form, provided that any such action shall not adversely affect the interests of the holders of Securities of any series in any material respect; 

(d) to 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 United States 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 or any corresponding provision in any similar United States Federal statute hereafter enacted; 

(e) to add to, change or eliminate any of the provisions of this Indenture in respect of all or any Securities of any series (and if such
addition, change or elimination is to apply with respect to less than all Securities of any series, stating that it is expressly being made to apply solely with respect to such Securities within such series), provided that any such addition, change
or elimination (i) shall not apply to any Securities issued prior to the execution of such supplemental indenture and entitled to the benefit of such provision or (ii) shall become effective only when there are no such Securities Outstanding; 

  
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 (f) to cure any ambiguity or to correct or supplement any provision contained herein or in any
supplemental indenture which may be defective or inconsistent with any other provisions contained herein or in any supplemental indenture or to make such other provisions in regard to matters or questions arising under this Indenture, provided such
other provisions shall not adversely affect in any material respect the interests of the holders of the Outstanding Securities affected thereby; 

(g) to evidence and provide for the acceptance and appointment hereunder by a successor trustee with respect to the Securities of one or more
series and to add or change any 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 Section 7.11; and 

(h) to establish the form or terms of all or any Securities of any series as permitted by Section 2.03. 

The Trustee is hereby authorized to join with the Company and the Guarantor in the execution of any such supplemental indenture, to make any
further appropriate agreements and stipulations which may be therein contained and to accept the conveyance, transfer, assignment, mortgage or pledge of any property thereunder, but the Trustee shall not be obligated to enter into any such
supplemental indenture which adversely affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. No supplemental indenture shall be effective as against the Trustee unless and until the Trustee has duly
executed and delivered the same. 
 SECTION 10.02. Supplemental Indentures with Consent of Holders. 

With the consent (evidenced as provided in Section 8.01) of the holders of not less than a majority in aggregate
principal amount of all Outstanding Securities affected by such supplemental indenture, considered together as one class for this purpose (such affected Securities may be Securities of the same or different series and, with respect to any series,
may comprise fewer than all the Securities of such series), the Company and the Guarantor, when authorized by or pursuant to a Board Resolution of their respective Boards, and the Trustee may from time to time and at any time enter into indenture or
indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the holders of
such affected Securities under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the holders of each Outstanding Security affected thereby, extend the stated maturity of any
Securities, or reduce the principal amount thereof or premium, if any, or reduce the rate or extend the time of payment of interest or other amounts due thereon, or reduce any amount payable on redemption thereof, except in accordance with the terms
of such Securities established as contemplated by Section 2.03(b), or reduce the aforesaid percentage of Securities, the consent of the holders of which is required for any such supplemental indenture. 

A supplemental indenture that changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely
for the benefit of one or more particular Securities or series of Securities, or that modifies the rights of the holder of such Securities or series with respect to such covenant or other provision, shall be deemed not to affect the rights under
this Indenture of the holder of any other Securities or any other series, as applicable. 
 Upon the request of the Company, accompanied by
a copy of a Board Resolution of the Company and the Guarantor certified by the Secretary or an Assistant Secretary of the Company or the Guarantor, as the case may be, authorizing the execution of any such supplemental indenture, and upon the filing
with the Trustee of evidence of the consent of securityholders as aforesaid, the Trustee shall join with the Company and the Guarantor in the execution of such supplemental 

  
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indenture unless such supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but
shall not be obligated to, enter into such supplemental indenture. 
 It shall not be necessary for the consent of the securityholders under
this Section to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such consent shall approve the substance thereof. 

Promptly after the execution of any supplemental indenture pursuant to the provisions of this Article Ten, the Company shall provide
notice thereof setting forth in general terms the substance of such supplemental indenture, in the manner and to the extent provided in Section 16.04, to all holders of Outstanding Securities of each series so
affected. Any failure of the Company so to provide such notice, or any defect therein, shall not in any way impair or affect the validity of any such supplemental indenture. 

SECTION 10.03. Compliance with Trust Indenture Act; Effect of Supplemental Indentures. 

Any supplemental indenture executed pursuant to the provisions of this Article Ten shall comply with the Trust Indenture Act, as then in
effect. Upon the execution of any supplemental indenture pursuant to the provisions of this Article Ten and subject to the provisions in any supplemental indenture relating to the prospective application of such instrument, this
Indenture shall be and be deemed to be modified and amended in accordance therewith and the respective rights, limitations of rights, obligations, duties and immunities under this Indenture of the Trustee, the Company, the Guarantor and the
holders of Securities theretofore or thereafter authenticated and delivered hereunder shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modifications and amendments, and all the terms and
conditions of any such supplemental indenture shall be and be deemed to be part of the terms and conditions of this Indenture for any and all purposes. 

The Trustee, subject to the provisions of Sections 7.01 and 7.02, shall be entitled to receive and shall be fully protected in
relying upon an Opinion of Counsel as conclusive evidence that any such supplemental indenture complies with the provisions of this Article Ten. 

SECTION 10.04. Notation on Securities. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to the provisions of this
Article Ten may bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. New Securities of any series so modified as to conform, in the opinion of the Trustee, the Company and the
Guarantor, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered, without charge to the securityholders, in exchange for the Securities of such
series then Outstanding. 
 ARTICLE ELEVEN 

CONSOLIDATION, MERGER, SALE OR CONVEYANCE 

SECTION 11.01. Company and Guarantor May Consolidate, etc., on Certain Terms. 

(a) The Company covenants that it will not merge or consolidate with any other Person or sell, convey or transfer all or substantially all of
its assets to any other Person other than the Guarantor, unless (1) either the Company shall be the continuing entity, or the successor Person (if other than the 

  
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Company) shall be organized and existing under the laws of the United States of America or a state thereof or the District of Columbia and such successor Person shall expressly assume the due and
punctual payment of the principal of (and premium, if any, on) and any interest or other amounts due on all the Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this
Indenture to be performed by the Company, by supplemental indenture satisfactory to the Trustee, executed and delivered to the Trustee by such successor Person, and (2) the Company or such successor Person, as the case may be, shall not, immediately
after such merger or consolidation, or such sale or conveyance, be in default in the performance of any such covenant or condition. For the avoidance of doubt, the Person referred to in this Section may be the Guarantor or any subsidiary
of the Guarantor. 
 (b) The Guarantor covenants that it will not merge or consolidate with any other Person or sell, convey or transfer all
or substantially all of its assets to any other Person, unless (1) either the Guarantor shall be the continuing entity, or the successor Person (if other than the Guarantor) shall be organized and existing under the laws of the United States of
America or a state thereof or the District of Columbia and such successor Person shall expressly assume the full and unconditional guarantee of the due and punctual payment of the principal of (and premium, if any, on) and any interest or other
amounts due on all the Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed by the Guarantor, by supplemental indenture satisfactory to the
Trustee, executed and delivered to the Trustee by such successor Person, and (2) the Guarantor or such successor Person, as the case may be, shall not, immediately after such merger or consolidation, or such sale or conveyance, be in default in the
performance of any such covenant or condition. 
 SECTION 11.02. Successor Substituted. 

In case of any such consolidation, merger, sale, conveyance or transfer and upon any such assumption by the successor Person as described in
Section 11.01, such successor Person shall succeed to and be substituted for, and may exercise every right and power of, the Company or the Guarantor, as the case may be, under this Indenture with the same effect as if it
had been named herein as the Company or the Guarantor, as the case may be. Such successor Person thereupon may cause to be signed, and may issue either in its own name or in the name of BofA Finance LLC, any or all of the Securities issuable
hereunder which theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such successor Person, instead of the Company, and subject to all the terms, conditions and limitations in this Indenture
prescribed, the Trustee shall authenticate and shall make available for delivery any Securities which previously shall have been signed and delivered by the officers of the Company to the Trustee for authentication, and any Securities which such
successor Person thereafter shall cause to be signed and delivered to the Trustee for that purpose. All of the Securities so issued shall in all respects have the same legal rank and benefit under this Indenture as the Securities theretofore or
thereafter issued in accordance with the terms of this Indenture as though all of such Securities had been issued at the date of the execution thereof. 

In case of any such consolidation, merger, sale, conveyance or transfer, such changes in phraseology and form (but not in substance) may be
made in the Securities thereafter to be issued as may be appropriate. 
 SECTION 11.03. Opinion of Counsel and Officer’s
Certificate to Be Given Trustee. 
 The Trustee shall receive an Opinion of Counsel and Officer’s Certificate of the Company or the
Guarantor, as the case may be, as conclusive evidence that any such consolidation, merger, sale, conveyance or transfer, and any such assumption, complies with the provisions of this Article Eleven and that all conditions precedent herein
provided for relating to such transaction have been complied with. 

  
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 ARTICLE TWELVE 

SATISFACTION AND DISCHARGE OF INDENTURE; UNCLAIMED MONEYS 

SECTION 12.01. Discharge of Indenture. 

If at any time 

(1) the Company shall have delivered to the Trustee for cancellation all of the Securities of a series (which term or any
similar terms shall mean, for purposes of this Article Twelve, Securities having identical terms, except as to issue date, principal amount and, if applicable, the date from which interest beings to accrue) theretofore authenticated (other
than (i) Securities which have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 2.09 and (ii) Securities for whose payment money has theretofore been deposited in trust or
segregated and held in trust by the Company or the Guarantor and thereafter repaid to the Company or the Guarantor or discharged from such trust as provided in Section 4.03), or 

(2) in the case of Securities of a series on which the exact amounts or maximum amounts due or to become due can be determined
at the time of the making of the deposit referred to below, all such Securities not theretofore delivered to the Trustee for cancellation (i) shall have become due and payable, or (ii) are by their terms to become due and payable within one year or
(iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption, and the Company or the Guarantor in the case of (i), (ii) or (iii) above shall have deposited or caused to
be deposited with the Trustee as trust funds the entire amount (other than moneys repaid by the Trustee or any Paying Agent to the Company or the Guarantor in accordance with Section 12.04) sufficient to pay at maturity or
upon redemption all such Securities not therefore delivered to the Trustee for cancellation, including the principal of (and premium, if any, on) and any interest or other amounts due or to become due on such Securities to such date of maturity or
date fixed for redemption, as the case may be, 
 and if in either case the Company or the Guarantor shall also pay or cause to be paid all other sums
payable hereunder by the Company or the Guarantor with respect to such Securities, then this Indenture shall cease to be of further effect with respect to such Securities, and the Trustee, on demand of and at the cost and expense of the Company or
the Guarantor, as the case may be, and subject to Section 16.05, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such Securities. The Company agrees to
reimburse the Trustee for any costs or expenses thereafter reasonably and properly incurred by the Trustee in connection with this Indenture or such Securities. Notwithstanding the satisfaction and discharge of this Indenture with respect to
the Securities of any series or of all series, the obligations of the Company to the Trustee under Section 7.06 shall survive. 

The Company will deliver to the Trustee an Officer’s Certificate of the Company or the Guarantor and an Opinion of Counsel which together
shall state that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

  
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 SECTION 12.02. Deposited Moneys to Be Held in Trust by Trustee. 

Subject to the provisions of the last paragraph of Section 4.03, all moneys deposited with the Trustee pursuant to
Section 12.01 shall be held in trust and applied by it to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent), to the persons entitled thereto, of all sums due and
to become due thereon for the principal of (and premium, if any, on) and any interest or other amounts due for which payment of such money has been deposited with the Trustee. 

SECTION 12.03. Paying Agent to Repay Moneys Held. 

In connection with the satisfaction and discharge of this Indenture with respect to Securities of a series and the payment of all amounts due
to the Trustee under Section 7.06, all moneys with respect to such Securities then held by any Paying Agent under the provisions of this Indenture shall, upon demand of the Company, be repaid to it or paid to the Trustee
and thereupon such Paying Agent shall be released from all further liability with respect to such moneys. 
 SECTION 12.04. Return of Unclaimed
Moneys. 
 Any moneys deposited with or paid to the Trustee or any Paying Agent for the payment of the principal of (and premium, if any,
on) and any interest or other amounts due on any Security and not applied but remaining unclaimed for two years after the date upon which such principal (and premium, if any, on) or interest shall have become due and payable, shall be repaid to the
Company or the Guarantor by the Trustee or such Paying Agent on demand, and the holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company or the Guarantor for any payment which such holder may be entitled
to collect and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease. 
 ARTICLE THIRTEEN 

IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS 

SECTION 13.01. Indenture and Securities Solely Corporate Obligations. 

No recourse under or upon any obligation, covenant or agreement contained in this Indenture, including the Guarantee, or in any Security, or
because of any indebtedness evidenced thereby, shall be had against any incorporator, or against any past, present or future stockholder, officer or director, as such, of the Company, the Guarantor or of any successor, either directly or through the
Company, the Guarantor or any successor , under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and
released by the acceptance of the Securities by the holders thereof and as part of the consideration for the issue of the Securities. 

ARTICLE FOURTEEN 
 DEFEASANCE AND
COVENANT DEFEASANCE 
 SECTION 14.01. Applicability of Article. 

Unless, as specified pursuant to Section 2.03(b), provision is made that either or both of (a) defeasance of the
Securities of a series under Section 14.02 and (b) covenant defeasance of the Securities 

  
 52 

 
of a series under Section 14.03 shall not apply to the Securities of a series, then the provisions of such Section 14.02 and
Section 14.03, together with Sections 14.04 and 14.05, shall be applicable to the Outstanding Securities of a series upon compliance with the conditions set forth below in this Article
Fourteen. For purposes of this Article Fourteen, the term “Securities of a series” and any similar terms shall mean Securities having identical terms, except as to issue date, principal amount and, if applicable, the date
from which interest beings to accrue. 
 SECTION 14.02. Defeasance and Discharge. 

In the case of Outstanding Securities of a series on which the exact amounts or maximum amounts due or to become due can be determined at the
time of the making of the deposit referred to in Section 14.04, and subject to Section 14.05, the Company may cause itself to be discharged from its obligations with respect to the Outstanding
Securities of a series on and after the date the applicable conditions precedent set forth below are satisfied but subject to satisfaction of the applicable conditions subsequent set forth below (hereinafter, “defeasance”). For this
purpose, such defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Outstanding Securities and to have satisfied all its other obligations under such Securities and this Indenture
insofar as such Securities are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated or discharged
hereunder: (A) the rights of holders of such Outstanding Securities to receive, solely from the trust fund described in Section 14.04 and as more fully set forth in such Section, payments of the principal of (and
premium, if any, on) and any interest or other amounts due on such Securities when such payments are due, (B) the Company’s obligations with respect to such Securities under Sections 2.07, 2.08, 2.09, 4.02 and
4.03 and such obligations as shall be ancillary thereto, (C) the rights, powers, trusts, duties, immunities and other provisions in respect of the Trustee hereunder and (D) this Article Fourteen. Subject to compliance with this
Article Fourteen, defeasance with respect to Securities of a series by the Company is permitted under this Section 14.02 notwithstanding the prior exercise of its rights under Section 14.03
with respect to the such Securities. Following a defeasance, payment of such Securities may not be accelerated because of an Event of Default. 

SECTION 14.03. Covenant Defeasance. 

In the case of Outstanding Securities of a series on which the exact amounts or maximum amounts due or to become due can be determined at the
time of the making of the deposit referred to in Section 14.04, the Company shall be released from its obligations applicable to such Securities under Section 11.01(a), the Guarantor shall be
released from its obligations applicable to such Securities under Section 4.06 and Section 11.01(b), and each of the Company and the Guarantor shall be released from its obligations applicable to
such Securities under Section 4.04 and, if so specified pursuant to Section 2.03(b), any other restrictive covenant added for the benefit of such Securities pursuant to
Section 2.03(b) (and the occurrence of any event specified in Section 6.01(c) (with respect to Section 4.04, Section 4.06 and
Section 11.01 and any such other covenants, as applicable) and Section 6.01(f) shall not be deemed to be or result in a Default or an Event of Default), on and after the date the applicable
conditions precedent set forth below are satisfied but subject to satisfaction of the applicable conditions subsequent set forth below (hereinafter, “covenant defeasance”). For this purpose, such covenant defeasance means that, with
respect to such Outstanding Securities, the Company or the Guarantor, as the case may be, may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such Section, whether directly or
indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other provision herein or in any other document, but the remainder of this Indenture and such Securities
shall be unaffected thereby. 

  
 53 

 SECTION 14.04. Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions precedent or, as specifically noted below, subsequent to application of either
Section 14.02 or Section 14.03 to the Outstanding Securities of a series: 

(1) The Company or the Guarantor shall irrevocably have deposited or caused to be deposited with the Trustee as trust funds in
trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the holders of such Securities (A) money in an amount, or (B) U.S. Government Obligations which through the
scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later than the opening of business on the due date of any payment, money in an amount, or (C) a combination thereof, sufficient, without
reinvestment, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee to pay and
discharge (i) the principal of and any premium, interest and other amounts payable on the Outstanding Securities of such series to maturity or redemption, as the case may be, and (ii) any mandatory sinking fund payments or analogous payments
applicable to the Outstanding Securities of such series on the due dates thereof. Before such a deposit the Company or the Guarantor may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date or dates in
accordance with Article Three which shall be given effect in applying the foregoing; 
 (2) No Event of Default, or event
which after notice or lapse of time, or both, would become an Event of Default with respect to such Securities, shall have happened and be continuing (A) on the date of such deposit or (B) insofar as subsections 6.01(a) and (b) are concerned, at any
time during the period ending on the 91st day after the date of such deposit or, if longer, ending on the day following the expiration of the longest preference period applicable in respect of such deposit (it being understood that the condition in
this clause (B) is a condition subsequent and shall not be deemed satisfied until the expiration of such period); 
 (3) Such
defeasance or covenant defeasance shall not (A) cause the Trustee for the Securities of such series to have a conflicting interest as defined in Section 7.08 or for purposes of the Trust Indenture Act with respect to any
securities of the Company or (B) result in the trust arising from such deposit to constitute, unless it is qualified as, a regulated investment company under the Investment Company Act of 1940, as amended; 

(4) Such defeasance or covenant defeasance shall not result in a breach or violation of, or constitute a default under, this
Indenture or any other agreement or instrument to which the Company is a party or by which it is bound; 
 (5) In the case of
a defeasance under Section 14.02, the Company or the Guarantor shall have delivered to the Trustee an Opinion of Counsel stating that (x) the Company has received from, or there has been published by, the U.S. Internal
Revenue Service a ruling, or (y) since the date of this Indenture there has been a change in the applicable United States Federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the holders of
such Securities will not recognize income, gain or loss for United States Federal income tax purposes as a result of such defeasance and will be subject to United States Federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such defeasance had not occurred; 

  
 54 

 (6) In the case of covenant defeasance under
Section 14.03, the Company or the Guarantor shall have delivered to the Trustee an Opinion of Counsel to the effect that the holders of such Securities will not recognize income, gain or loss for United States Federal
income tax purposes as a result of such covenant defeasance and will be subject to United States Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not
occurred; 
 (7) Such defeasance or covenant defeasance shall be effected in compliance with any additional terms, conditions
or limitations which may be imposed on the Company in connection therewith pursuant to Section 2.03(b); and 

(8) The Company or the Guarantor shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel,
each stating that all conditions precedent and subsequent provided for in this Indenture relating to either the defeasance under Section 14.02 or the covenant defeasance under Section 14.03, as the
case may be, have been complied with. 
 SECTION 14.05. Deposited Money and U.S. Government Obligations to be Held in Trust; Other Miscellaneous
Provisions. 
 All money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee pursuant to
Section 14.04 in respect of the Outstanding Securities of a series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly
or through any Paying Agent (but not including the Company acting as its own Paying Agent) as the Trustee may determine, to the holders of such Securities of all sums due and to become due thereon in respect of principal and any premium and
interest, but such money need not be segregated from other funds except to the extent required by law. 
 The Company or the Guarantor shall
pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the money or U.S. Government Obligations deposited pursuant to Section 14.04 or the principal and interest received in
respect thereof. 
 Anything herein to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon
Company Request any money or U.S. Government Obligations held by it as provided in Section 14.04 which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect an equivalent defeasance or covenant defeasance, provided that the Trustee shall not be required to liquidate any U.S.
Government Obligations in order to comply with the provisions of this paragraph. 
 Anything herein to the contrary notwithstanding, if and
to the extent the deposited money or U.S. Government Obligations (or the proceeds thereof) either (i) cannot be applied by the Trustee in accordance with this Section because of a court order or (ii) are for any reason insufficient in amount,
then the Company’s obligations to pay principal of and any premium, interest and other amounts due on such Securities shall be reinstated to the extent necessary to cover the deficiency on any due date for payment. In any such case, the
Company’s interest in the deposited money and U.S. Government Obligations (and proceeds thereof) shall be reinstated to the extent the Company’s payment obligations are reinstated. 

SECTION 14.06. Return of Unclaimed Moneys. 

Any moneys deposited with or paid to the Trustee or any Paying Agent for the payment of the principal of (and premium, if any) or interest or
other amounts due on any Security and not applied but remaining unclaimed for two years after the date upon which such principal (and premium, if any, on) or interest or other amounts due shall have become due and payable, shall be repaid to the
Company or the 

  
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Guarantor by the Trustee or such Paying Agent on demand, and the holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company or the Guarantor for any
payment which such holder may be entitled to collect and all liability of the Trustee or any Paying Agent with respect to such moneys shall thereupon cease. 

ARTICLE FIFTEEN 
 GUARANTEE 

SECTION 15.01. The Guarantee. 

Subject to the provisions of this Article, the Guarantor hereby irrevocably, fully and unconditionally guarantees to the holders and the
Trustee, as a primary obligor and not merely as a surety, on an unsecured basis, the due and punctual payment (whether at stated maturity, upon redemption, repayment or acceleration, or otherwise) of the principal of (and premium, if any, on) and
any interest and all other amounts due and payable by the Company on the Securities in accordance with the terms of the Securities and this Indenture. Upon failure by the Company to punctually pay any such amount when due, the Guarantor shall
forthwith on demand pay the amount not so paid at the same place and in the same manner specified that applies to payments made by the Company under this Indenture. The Guarantee constitutes a guarantee of payment and not of collection. 

SECTION 15.02. Guarantee Unconditional. 

The obligations of the Guarantor hereunder are unconditional and absolute and, without limiting the generality of the foregoing, will not be
released, discharged, or otherwise affected or impaired by: (a) any extension, renewal, settlement, compromise, waiver, release, or moratorium in respect of any obligation of the Company under this Indenture or any Security, in whole or in part, by
operation of law or otherwise; (b) any waiver, modification or amendment of or supplement to this Indenture or any Security; (c) any change in the corporate existence, structure or ownership of the Company, or any insolvency, bankruptcy,
receivership, reorganization or other similar proceeding affecting the Company or its assets or any resulting release or discharge of any obligation of the Company contained in this Indenture or any Security; (d) the existence of any claim,
counterclaim, set off, recoupment or other rights or defenses which the Guarantor may have at any time against the Company, the Trustee or any other Person, whether in connection with this Indenture or any unrelated transactions, provided that
nothing herein prevents the assertion of any such claim by separate suit or compulsory counterclaim; (e) any invalidity or unenforceability relating to or against the Company for any reason of this Indenture or any Security, or any provision of
applicable law or regulation purporting to prohibit the payment by the Company of the principal of or interest on any Security; or (f) any act or omission to act or delay of any kind by the Company, the Trustee or any other Person or any other
circumstance whatsoever which might, but for the provisions of this paragraph, constitute a legal or equitable discharge of or defense to the Guarantor’s obligations hereunder (other than the indefeasible payment in full of all of
Guarantor’s obligations hereunder). 
 SECTION 15.03. Discharge; Reinstatement. 

The Guarantor’s obligations under this Article with respect to any Securities will remain in full force and effect until the principal of
(and premium, if any, on) and any interest and all other amounts due and payable by the Company on such Securities have been paid in full. If at any time any due and punctual payment of the principal of (premium, if any, on) or any interest or other
amount payable by the Company on any Security is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy, receivership or reorganization of the Company or otherwise, the Guarantor’s obligations hereunder with respect
to such payment will be reinstated as though such payment had been due but not made at such time. 

  
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 SECTION 15.04. Waiver by the Guarantor. 

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

SECTION 15.05. Subrogation. 
 Upon
making any payment with respect to any obligation of the Company under this Article, the Guarantor shall be subrogated to the rights of the payee against the Company with respect to such obligation, provided that the Guarantor may not enforce any
right of subrogation with respect to such payment so long as any amount payable by the Company hereunder or under the Securities remains unpaid. 

SECTION 15.06. Stay of Acceleration. 

If acceleration of the time for payment of any amount payable by the Company under this Indenture or the Securities is stayed upon the
insolvency, bankruptcy, receivership or reorganization of the Company, all such amounts otherwise subject to acceleration under the terms of this Indenture are nonetheless payable by the Guarantor hereunder forthwith on demand by the Trustee or the
holders. 
 SECTION 15.07. Savings Clause. 

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

SECTION 15.08. Execution and Delivery of Guarantee. 

The execution by the Guarantor of this Indenture (or a supplemental indenture) evidences the Guarantee of the Guarantor, whether or not the
person signing as an officer of the Guarantor still holds that office at the time of authentication of any Security. The delivery of any Security by the Trustee after authentication constitutes due delivery of the Guarantee set forth in this
Indenture on behalf of the Guarantor. 

  
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 SECTION 15.09. Termination of the Guarantee Upon Merger.

The Guarantee of the Guarantor will terminate upon the merger of the Company with and into the Guarantor in accordance with Article
Eleven. 
 SECTION 15.10. Release of Guarantee. 

The Guarantee of the Guarantor of any Securities will terminate upon the defeasance of such Securities as provided in
Section 14.02. Upon delivery by the Company to the Trustee of an Officer’s Certificate and an Opinion of Counsel to the foregoing effect, the Trustee will execute any documents reasonably requested by the Company
or the Guarantor as may be required in order to evidence the release of the Guarantor from its obligations under the Guarantee of such Securities. 

ARTICLE SIXTEEN 
 MISCELLANEOUS
PROVISIONS 
 SECTION 16.01. Benefits of Indenture Restricted to Parties and Securityholders. 

Nothing in this Indenture or in the Securities, expressed or implied, shall give or be construed to give to any person, firm or corporation,
other than the parties hereto and their successors and assigns and the holders of the Securities, any legal or equitable right, remedy or claim under this Indenture or under any covenant or provision herein contained, all such covenants and
provisions being for the sole benefit of the parties hereto and their successors and assigns and the holders of the Securities. 
 SECTION 16.02.
Provisions Binding on Successors. 
 All the covenants, stipulations, promises and agreements in this Indenture made by or on behalf
of the Company or the Guarantor shall bind their respective successors and assigns, whether so expressed or not. 
 SECTION 16.03. Addresses for
Notices, etc., to Company, Guarantor and Trustee. 
 Any notice or demand which by any provisions of this Indenture is required or
permitted to be made upon, given, served or furnished by the Trustee or by the holders of Securities to or on the Company or the Guarantor shall be sufficiently made, given, served or furnished if it shall be mailed by postage prepaid first class
mail, delivered or sent by facsimile to Bank of America Corporate Center, 100 North Tryon Street, NC1-007-06-10, Charlotte, North
Carolina 28255-0065; Facsimile number: 704-548-5999, Attention: Corporate Treasury—Global Funding Transaction Management,
with a copy to Bank of America Corporate Center, 100 North Tryon Street, NC1-007-58-23, Charlotte, North Carolina 28255-0001; Facsimile number (704) 683-7218, Attention: General Counsel, or such other address or facsimile number as may have been furnished in writing to the Trustee by the
Company or the Guarantor, as the case may be.
 Any notice, direction, request or demand by any securityholder to or upon the Trustee shall
be deemed to have been sufficiently given or made, for all purposes, if given or made in writing at the Corporate Trust Office of the Trustee. 

The Trustee shall be entitled to treat a facsimile, pdf or e-mail communication or communication by other similar electronic means in a form
satisfactory to it (“Electronic Methods”) from a person purporting to be, and whom the Trustee, acting reasonably, believes in good faith to be, the authorized 

  
 58 

 
representative of the Company as sufficient instructions and authority of the Company for the Trustee to act and shall have no duty to confirm that person is so authorized, other than, with
respect to the Company, to verify that any signature is the signature of a person authorized to give instructions and directions on behalf of the Company using the information provided by the Company in an incumbency certificate listing persons
designated to give such instructions or directions and containing specimen signatures of such designated persons . The Trustee shall have no liability for any losses, liabilities, costs or expenses incurred by it as a result of such reliance upon or
compliance with such instructions or directions, except in the case of its negligence, bad faith or willful misconduct, until such time as the Trustee receives any subsequent instruction or direction that supersedes such earlier instructions or
directions. The Company assumes 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
of interception and misuse by third parties, other than those risks arising out of negligence, bad faith or willful misconduct of the Trustee. 

SECTION 16.04. Notice to Holders of Securities; Waiver. 

Except as otherwise expressly provided herein, where this Indenture provides for notice to holders of Securities of any event, such notice
shall be sufficiently given if in writing and mailed, first- class postage prepaid, to each holder of a Security affected by such event, at the address of such holder as it appears in the Security Register, not earlier than the earliest date (if
any) and not later than the latest date (if any) 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 of Securities by mail, then such notification as shall be made with the approval of the Trustee shall constitute sufficient notice to such holders
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 of a Security shall affect the sufficiency of such
notice with respect to other holders of Securities. 
 Where this Indenture provides for notice of any event to a holder of a Global
Security, such notice shall be sufficiently given if given to the Depositary for such Security (or its designee), pursuant to the procedures of such Depositary then in place, not earlier than the earliest date (if any) and not later than the latest
date (if any) prescribed for the giving of such notice. 
 Where this Indenture provides for notice in any manner, such notice may be waived
in writing by the person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by holders of Securities shall be filed with the Trustee, but such filing
shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 Any request, demand, authorization,
direction, notice, consent or waiver required or permitted under this Indenture shall be in the English language. 
 SECTION 16.05. Evidence of
Compliance with Conditions Precedent. 
 Upon any application or demand by the Company or the Guarantor to the Trustee to take any action
under any of the provisions of this Indenture, the Company or the Guarantor, as the case may be, shall furnish to the Trustee an Officer’s Certificate of the Company or the Guarantor, as the case may be, stating that all conditions precedent,
if any, provided for in this Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the
case of any such application or 

  
 59 

 
demand as to which the furnishing of such documents is specifically required by any provision of this Indenture relating to such particular application or demand, no additional certificate or
opinion need be furnished. 
 Each Officer’s Certificate and Opinion of Counsel provided for in this Indenture and delivered to the
Trustee with respect to compliance with a condition or covenant provided for in this Indenture shall include (1) a statement that the person making such certificate or opinion has read such covenant or condition; (2) a brief statement as to the
nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; (3) a statement that, in the opinion of such person, he or she has made such examination or investigation
as is necessary to enable him or her to express an informed opinion as to whether or not such covenant or condition has been complied with; and (4) a statement as to whether or not, in the opinion of such person, such condition or covenant has been
complied with. 
 SECTION 16.06. Legal Holidays. 

Unless otherwise specified for any Securities as contemplated by Section 2.03(b), in any case where the date of
maturity of interest on or principal of the Securities or the date fixed for redemption or repayment for any Securities shall be a day that is not a business day, then payment of interest or principal (and premium, if any), or any other amounts due,
need not be made on such date but may be made on the next succeeding business day with the same force and effect as if made on the date of maturity or the date fixed for redemption or repayment, and no interest shall accrue for the period after such
date. 
 SECTION 16.07. Trust Indenture Act to Control. 

If and to the extent that any provision of this Indenture limits, qualifies or conflicts with another provision included in this Indenture
which is required to be included in this Indenture by any of Sections 310 to 317, inclusive, of the Trust Indenture Act, such required provision shall control. 

SECTION 16.08. Execution in Counterparts. 

This Indenture may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together
constitute but one and the same instrument. 
 SECTION 16.09. Governing Law. 

This Indenture and each Security shall be deemed to be a contract made under the laws of the State of New York, and for all purposes shall be
governed by and construed in accordance with the laws of said State. 
 SECTION 16.10. Separability Clause. 

In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 The Trustee, by its execution of this
Indenture, hereby accepts the trusts in this Indenture declared and provided, upon the terms and conditions hereinabove set forth. 

  
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 SECTION 16.11. Waiver of Jury Trial. 

EACH OF THE COMPANY, THE GUARANTOR AND THE TRUSTEE, AND EACH HOLDER OF A SECURITY BY ITS ACCEPTANCE THEREOF, 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 SECURITIES, THE GUARANTEE OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 16.12. Force Majeure. 
 In no
event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including, without
limitation, the occurrence of strikes, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God and statewide or countrywide interruptions or losses of utilities or communications services; it being
understood that the Trustee shall use reasonable efforts that are consistent with accepted practices in the banking industry to resume performance as soon as practicable under those circumstances. 

SECTION 16.13. Foreign Account Tax Compliance Act (FATCA). 

The Trustee shall be entitled to deduct FATCA Withholding Tax (as hereinafter defined), and shall have no obligation to gross-up any payment
hereunder or to pay any additional amount as a result of such FATCA Withholding Tax. Each of the Company and the Trustee agrees to cooperate and to provide the other with such reasonably requested information as each may have in its possession to
enable the determination of whether any payments pursuant to this Indenture are subject to any tax, assessment or other governmental charge that is imposed or withheld by reason of the application of Section 1471 through 1474 of the U.S.
Internal Revenue Code of 1986, as amended (or any successor provision), any regulation, pronouncement or agreement thereunder, official interpretation thereof or any law implementing an intergovernmental approach thereto, whether currently in effect
or as published and amended from time to time (“FATCA Withholding Tax”). 
 [Signature Page Follows] 

  
 61 

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

			
	BofA FINANCE LLC, as Issuer

 
					
		
	By:	 	 /s/ Angela C. Jones

		 	Name:	 	Angela C. Jones
		 	Title:	 	President

 
			
	
	BANK OF AMERICA CORPORATION, as Guarantor

 
					
		
	By:	 	 /s/ Angela C. Jones

		 	Name:	 	Angela C. Jones
		 	Title:	 	Managing Director

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

 
					
		
	By:	 	 /s/ Valere D. Boyd

		 	Name:	 	Valere D. Boyd
		 	Title:	 	Vice President

 [SIGNATURE PAGE - BofA FINANCE LLC INDENTURE]

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