Document:

EX-4.1

 Exhibit 4.1 
 INTERNATIONAL FLAVORS & FRAGRANCES INC. 
 as Issuer 

and 
 U.S.
BANK NATIONAL ASSOCIATION 
 as Trustee 

 
  

INDENTURE 

Dated as of March 2, 2016 
  

 

 CROSS-REFERENCE
TABLE(1) 
  

			
	 Section of Trust Indenture Act of 1939, as amended
	  	 Section of Indenture

		
	310(a)	  	7.09
	310(b)	  	7.08
		  	7.10
	311(a)	  	7.13
	311(b)	  	7.13
	312(a)	  	5.01
		  	5.02(a)
	312(b)	  	5.02(b)
	312(c)	  	5.05
	313(a)	  	5.04(a)
	313(b)	  	5.04(b)
	313(c)	  	5.04(a)
		  	5.04(b)
	313(d)	  	5.04(c)
	314(a)	  	5.03
	314(b)	  	Inapplicable
	314(c)	  	 13.06

13.07

	314(d)	  	Inapplicable
	314(e)	  	13.06
	314(f)	  	Inapplicable
	315(a)	  	7.01(a)
		  	7.02
	315(b)	  	7.01(b)
	315(c)	  	7.01(a)
	315(d)	  	7.01(c)
	315(e)	  	6.07
	316(a)	  	6.06
		  	8.04
	316(b)	  	6.04
	316(c)	  	8.01
	317(a)	  	6.02
	317(b)	  	4.03
	318(a)	  	13.09
	Parties	  	1
	Recitals	  	1

  

	(1)	This Cross-Reference Table does not constitute part of the Indenture and shall not have any bearing on the interpretation of any of its terms or provisions.

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	
	ARTICLE I	  
	 DEFINITIONS
	   

			
	 Section 1.01.
	 	 Definitions of Terms
	  	 	1	  
	
	 ARTICLE II
	   

	 ISSUE, DESCRIPTION, TERMS, EXECUTION, REGISTRATION AND EXCHANGE OF
SECURITIES
	   

			
	 Section 2.01.
	 	 Designation and Terms of Securities
	  	 	5	  
			
	 Section 2.02.
	 	 Form of Securities and Trustee’s Certificate
	  	 	8	  
			
	 Section 2.03.
	 	 Denominations; Provisions for Payment
	  	 	9	  
			
	 Section 2.04.
	 	 Execution and Authentications
	  	 	11	  
			
	 Section 2.05.
	 	 Registration of Transfer and Exchange
	  	 	12	  
			
	 Section 2.06.
	 	 Temporary Securities
	  	 	13	  
			
	 Section 2.07.
	 	 Mutilated, Destroyed, Lost or Stolen Securities
	  	 	13	  
			
	 Section 2.08.
	 	 Cancellation
	  	 	14	  
			
	 Section 2.09.
	 	 Benefits of Indenture
	  	 	14	  
			
	 Section 2.10.
	 	 Authenticating Agent
	  	 	15	  
			
	 Section 2.11.
	 	 Global Securities
	  	 	15	  
			
	 Section 2.12.
	 	 CUSIP Numbers
	  	 	17	  
			
	 Section 2.13.
	 	 Ranking
	  	 	17	  
	
	 ARTICLE III
	   

	 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS
	   

			
	 Section 3.01.
	 	 Redemption
	  	 	17	  
			
	 Section 3.02.
	 	 Election to Redeem; Notice of Redemption
	  	 	17	  
			
	 Section 3.03.
	 	 Payment Upon Redemption
	  	 	19	  
			
	 Section 3.04.
	 	 Sinking Fund
	  	 	20	  
			
	 Section 3.05
	 	 Satisfaction of Sinking Fund Payments with Securities
	  	 	20	  
			
	 Section 3.06
	 	 Redemption of Securities for Sinking Fund
	  	 	20	  
	
	 ARTICLE IV
	   

	 CERTAIN COVENANTS
	   

			
	 Section 4.01.
	 	 Payment of Principal, Premium and Interest
	  	 	21	  
			
	 Section 4.02.
	 	 Maintenance of Office or Agency
	  	 	21	  

  
 -i-

 TABLE OF CONTENTS 

(continued) 
  

  

							
	 	 	 	  	Page	 
			
	 Section 4.03.
	 	 Paying Agents
	  	 	21	  
			
	 Section 4.04.
	 	 Appointment to Fill Vacancy in Office of Trustee
	  	 	22	  
	
	ARTICLE V	  
	SECURITYHOLDERS’ LISTS AND REPORTS BY THE COMPANY AND THE TRUSTEE	  
			
	 Section 5.01.
	 	 Company to Furnish Trustee Names and Addresses of Securityholders
	  	 	23	  
			
	 Section 5.02.
	 	 Preservation of Information; Communications to Holders
	  	 	23	  
			
	 Section 5.03.
	 	 Reports by the Company
	  	 	23	  
			
	 Section 5.04.
	 	 Reports by the Trustee
	  	 	24	  
			
	 Section 5.05.
	 	 No Accountability by Reason of Disclosure
	  	 	24	  
	
	 ARTICLE VI
	   

	 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENT OF DEFAULT
	   

			
	 Section 6.01.
	 	 Events of Default
	  	 	25	  
			
	 Section 6.02.
	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	27	  
			
	 Section 6.03.
	 	 Application of Moneys Collected
	  	 	28	  
			
	 Section 6.04.
	 	 Limitation on Suits
	  	 	29	  
			
	 Section 6.05.
	 	 Rights and Remedies Cumulative; Delay or Omission Not Waiver
	  	 	30	  
			
	 Section 6.06.
	 	 Control by Securityholders
	  	 	30	  
			
	 Section 6.07.
	 	 Undertaking to Pay Costs
	  	 	31	  
	
	 ARTICLE VII
	   

	 CONCERNING THE TRUSTEE
	   

			
	 Section 7.01.
	 	 Certain Duties and Responsibilities of Trustee
	  	 	31	  
			
	 Section 7.02.
	 	 Certain Rights of Trustee
	  	 	33	  
			
	 Section 7.03.
	 	 Trustee Not Responsible for Recitals, Validity of Securities or Application of Proceeds Thereof
	  	 	34	  
			
	 Section 7.04.
	 	 May Hold Securities
	  	 	35	  
			
	 Section 7.05.
	 	 Moneys Held in Trust
	  	 	35	  
			
	 Section 7.06.
	 	 Compensation and Reimbursement
	  	 	35	  
			
	 Section 7.07.
	 	 Reliance on Officers’ Certificate
	  	 	36	  
			
	 Section 7.08.
	 	 Disqualification; Conflicting Interests
	  	 	36	  
			
	 Section 7.09.
	 	 Corporate Trustee Required; Eligibility
	  	 	36	  
			
	 Section 7.10.
	 	 Resignation and Removal; Appointment of Successor
	  	 	37	  

  
 -ii-

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 Section 7.11.
	 	 Acceptance of Appointment By Successor
	  	 	38	  
			
	 Section 7.12.
	 	 Merger, Conversion, Consolidation or Succession to Business
	  	 	40	  
			
	 Section 7.13.
	 	 Preferential Collection of Claims Against the Company
	  	 	40	  
	
	 ARTICLE VIII
	   

	 CONCERNING THE SECURITYHOLDERS
	   

			
	 Section 8.01.
	 	 Evidence of Action by Securityholders
	  	 	40	  
			
	 Section 8.02.
	 	 Proof of Execution by Securityholders
	  	 	41	  
			
	 Section 8.03.
	 	 Who May be Deemed Owners
	  	 	41	  
			
	 Section 8.04.
	 	 Certain Securities Owned by Company Disregarded
	  	 	41	  
			
	 Section 8.05.
	 	 Actions Binding on Future Securityholders
	  	 	42	  
	
	 ARTICLE IX
	   

	 SUPPLEMENTAL INDENTURES
	   

			
	 Section 9.01.
	 	 Consent, Waiver or Amendment Without the Consent of Securityholders
	  	 	42	  
			
	 Section 9.02.
	 	 Supplemental Indentures With Consent of Securityholders
	  	 	44	  
			
	 Section 9.03.
	 	 Effect of Supplemental Indentures
	  	 	44	  
			
	 Section 9.04.
	 	 Securities Affected by Supplemental Indentures
	  	 	45	  
			
	 Section 9.05.
	 	 Conformity with Trust Indenture Act
	  	 	45	  
			
	 Section 9.06.
	 	 Execution of Supplemental Indentures
	  	 	45	  
	
	 ARTICLE X
	   

	 SUCCESSOR CORPORATION
	   

			
	 Section 10.01.
	 	 Company May Consolidate, Etc
	  	 	46	  
			
	 Section 10.02.
	 	 Successor Corporation Substituted
	  	 	46	  
			
	 Section 10.03.
	 	 Evidence of Consolidation, Etc. to Trustee
	  	 	47	  
	
	 ARTICLE XI
	   

	 SATISFACTION AND DISCHARGE AND DEFEASANCE
	   

			
	 Section 11.01.
	 	 Satisfaction and Discharge of Indenture
	  	 	47	  
			
	 Section 11.02.
	 	 Defeasance and Covenant Defeasance
	  	 	48	  
			
	 Section 11.03.
	 	 Deposited Moneys to be Held in Trust
	  	 	50	  
			
	 Section 11.04.
	 	 Payment of Moneys Held by Paying Agents
	  	 	50	  
			
	 Section 11.05.
	 	 Repayment to Company
	  	 	50	  
			
	 Section 11.06.
	 	 Reinstatement
	  	 	51	  

  
 -iii-

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 Section 11.07.
	 	 Other Coin or Currency Units
	  	 	51	  
	
	ARTICLE XII	  
	IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS AND DIRECTORS	  
			
	 Section 12.01.
	 	 No Recourse
	  	 	51	  
	
	ARTICLE XIII	  
	MISCELLANEOUS PROVISIONS	  
			
	 Section 13.01.
	 	 Effect on Successors and Assigns
	  	 	52	  
			
	 Section 13.02.
	 	 Actions by Successor
	  	 	52	  
			
	 Section 13.03.
	 	 Notices
	  	 	52	  
			
	 Section 13.04.
	 	 Governing Law
	  	 	53	  
			
	 Section 13.05.
	 	 Treatment of Securities as Debt
	  	 	53	  
			
	 Section 13.06.
	 	 Compliance Certificates and Opinions
	  	 	53	  
			
	 Section 13.07.
	 	 Form of Documents Delivered to Trustee
	  	 	54	  
			
	 Section 13.08.
	 	 Payments on Business Days
	  	 	54	  
			
	 Section 13.09.
	 	 Conflict with Trust Indenture Act
	  	 	55	  
			
	 Section 13.10.
	 	 Effect of Headings and Table of Contents
	  	 	55	  
			
	 Section 13.11.
	 	 Counterparts
	  	 	55	  
			
	 Section 13.12.
	 	 Separability
	  	 	55	  
			
	 Section 13.13.
	 	 Assignment
	  	 	55	  
			
	 Section 13.14.
	 	 WAIVER OF JURY BY TRIAL
	  	 	55	  
			
	 Section 13.15.
	 	 Patriot Act
	  	 	56	  

  
 -iv-

 INDENTURE, dated as of March 2, 2016, among International Flavors & Fragrances
Inc., a New York corporation (the “Company”), and U.S. Bank National Association, as trustee (the “Trustee”): 
 WHEREAS, for its lawful corporate purposes, the Company has duly authorized the execution and delivery of this Indenture to provide for the issuance of unsecured debt securities (hereinafter referred to
as the “Securities”), in an unlimited aggregate principal amount to be issued from time to time in one or more series as in this Indenture provided, as registered Securities without coupons, to be authenticated by the certificate of
the Trustee; 
 WHEREAS, to provide the terms and conditions upon which the Securities are to be authenticated, issued and
delivered, the Company has duly authorized the execution of this Indenture; and 
 WHEREAS, all things necessary to make this
Indenture a valid agreement of the Company, in accordance with its terms, have been done. 
 NOW, THEREFORE, in consideration of
the premises and the purchase of the Securities by the holders thereof, it is mutually covenanted and agreed as follows for the equal and ratable benefit of the holders of Securities: 

ARTICLE I 

DEFINITIONS 
 SECTION 1.01. Definitions of Terms. 
 The terms defined in this
Section (except as in this Indenture 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 and
shall include the plural as well as the singular. All other terms used in this Indenture that are defined in the Trust Indenture Act or in the Securities Act (except as herein otherwise expressly provided or unless the context otherwise requires)
shall have the meanings assigned to such terms in the Trust Indenture Act or in the Securities Act, as applicable. 

“Affiliate” or “Affiliated” means, with respect to a 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. 
 “Authenticating Agent” means an authenticating agent with respect to all or any of the Securities
appointed with respect to all or any series of the Securities by the Trustee pursuant to Section 2.10. 

 “Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state
law for the relief of debtors. 
 “Board of Directors” means the Board of Directors of the Company or any
committee of such Board duly authorized to act generally or in a particular respect for the Company hereunder. 
 “Board
Resolution” means a copy of a resolution 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.

 “Business Day” means, with respect to any series of Securities, unless specified in the terms of such
Securities established in accordance with Section 2.01, any day other than a day on which Federal or State banking institutions in the Borough of Manhattan, The City of New York, are authorized or obligated by law, executive order or regulation to
close. 
 “Clearstream” means Clearstream Banking, société anonyme. 

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

“Company” means International Flavors & Fragrances Inc., a corporation duly organized and existing under the
laws of the State of New York, and, subject to the provisions of Article X, shall also include its successors and assigns. 

“Corporate Trust Office” means the office of the Trustee at which, at any particular time, its corporate trust business
shall be principally administered, which office at the date hereof is located at 100 Wall Street, Suite 1600, New York, New York 10005, or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or
the principal corporate trust 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 the Company). 

“Custodian” means any receiver, trustee, assignee, liquidator, or similar official under any Bankruptcy Law. 

“Default” means any event, act or condition that with notice or lapse of time, or both, would constitute an Event of
Default. 
 “Defaulted Interest” has the meaning set forth in Section 2.03(c). 

“Depositary” means, with respect to Securities of any series that the Company shall determine will be issued as a Global
Security, the Person designated as depositary by the Company in or pursuant to this Indenture and, unless otherwise provided with respect to any Security, any successor to such Person. If at any time there is more than one such Person,
“Depositary” shall mean, with respect to any Securities, the depositary which has been appointed with respect to such Securities pursuant to either Section 2.01 or Section 2.11. 

“DTC” has the meaning set forth in Section 2.02(a). 

“Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear System. 

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

“Event of Default” means, with respect to Securities of a particular series, any event specified in Section 6.01,
continued for the period of time, if any, therein designated. 
 “Global Security” means, with respect to any
series of Securities, a Security executed by the Company and delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction, all in accordance with the Indenture, which shall be registered in the name of the Depositary
or its nominee. 

  
 2 

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

“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. 
 “Identifying Numbers”
has the meaning set forth in Section 2.12. 
 “Indenture” means this instrument as it may from time to
time be supplemented or amended by one or more indentures supplemental hereto entered into in accordance with the terms hereof and, with respect to any Security, by the terms of such Security (as such terms may be amended pursuant to the applicable
provisions hereof). 
 “Interest Payment Date,” when used with respect to any installment of interest on a
Security of a particular series, means the date specified in such Security pursuant to Section 2.01 with respect to such series as the fixed date on which an installment of interest with respect to Securities of that series is due and payable.

 “Mandatory Sinking Fund Payment” has the meaning set forth in Section 2.03(a)Section 3.04. 

“Maturity” means, with respect to any Security, the date on which the principal of such Security shall become due and
payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 
 “Officers’ Certificate” means a certificate signed by the Chairman of the Board of Directors, Chief Executive Officer, President or a Vice President and by the Treasurer or an
Assistant Treasurer, or the Controller or an Assistant Controller, or the Secretary or an Assistant Secretary of the Company that is delivered to the Trustee in accordance with the terms hereof. Each such certificate shall include the statements
provided for in Section 13.06, if and to the extent required by the provisions thereof. 
 “Opinion of
Counsel” means an opinion in writing of legal counsel (reasonably acceptable to the Trustee), who may be an employee of or counsel for the Company, that is delivered to the Trustee in accordance with the terms hereof. Each such opinion
shall include the statements provided for in Section 13.06, if and to the extent required by the provisions thereof. 

“Optional Sinking Fund Payment” has the meaning set forth in Section 3.04. 

“Outstanding,” when used with reference to Securities of any series, means, subject to the provisions of
Section 8.04, as of any particular time, all Securities of that series theretofore authenticated and delivered by the Trustee under this Indenture, except: 

  
 3 

 (i) Securities theretofore canceled by the Trustee or any Paying Agent, or
delivered to the Trustee or any Paying Agent for cancellation; 
 (ii) Securities or portions thereof for the
payment or redemption of which moneys or Governmental Obligations in the necessary amount shall have been deposited pursuant hereto in trust with the Trustee or with any Paying Agent (other than the Company) or shall have been set aside and
segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the holders of such Securities; provided, however, that if such Securities or portions of such Securities are to be redeemed prior to the
Maturity thereof, notice of such redemption shall have been given as provided in Article III, or provision satisfactory to the Trustee shall have been made for giving such notice; and 

(iii) Securities in lieu of or in substitution for which other Securities have been authenticated and delivered pursuant
to the terms of Section 2.07; 
 provided, however, that in determining whether the Holders of the requisite
principal amount of the Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders for quorum purposes, any Securities owned by the Company or any other
obligor upon the Securities or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee for such Securities shall be protected in relying upon any such
request, demand, authorization, direction, notice, consent or waiver, only the Securities which a Responsible Officer of such Trustee actually knows to be so owned shall be so disregarded. Any Securities so owned which have been pledged in good
faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of such Trustee that the pledgee has the right so to act with respect to such Securities and is not the Company or any other obligor upon the Securities or any
Affiliate of the Company or of such other obligor. 
 “Participant” means, with respect to the Depositary,
Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear or Clearstream). 

“Paying Agent” means any Person authorized by the Company to pay the principal of (and premium, if any) and interest, if
any, on any Securities on behalf of the Company. The Company may act as Paying Agent with respect to any Securities issued hereunder. 
 “Person” means any individual, corporation, partnership, limited liability company, joint venture, joint-stock company, unincorporated organization or government or any agency or
political subdivision thereof. 
 “Predecessor Security” means, with respect to any Security, every previous
Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for the purposes of this definition, any Security authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen
Security shall be deemed to evidence the same debt as the lost, destroyed or stolen Security. 
 “Redemption
Date,” when used with respect to any Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
 “Registrar” has the meaning set forth in Section 2.05(b). 

“Regular Record Date” means, with respect to any interest payable on any Security on any Interest Payment Date, the date
specified in such Security for the payment of interest pursuant to Section 2.01. 
 “Responsible Officer” when
used with respect to the Trustee means any officer of the Trustee with direct responsibility for administration of the Indenture or to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with the particular
subject. 
 “Securities” means the debt securities authenticated and delivered under this Indenture.

 “Securities Act” means the Securities Act of 1933, as amended. 

  
 4 

 “Securityholder,” “Holder,” “holder of
Securities,” “registered holder,” or other similar term, means the Person or Persons in whose name or names a particular Security shall be registered on the books of the Company kept for that purpose in accordance with the
terms of this Indenture. 
 “Security Register” has the meaning set forth in Section 2.05. 

“Special Record Date” has the meaning set forth in Section 2.03(c). 

“Stated Maturity,” when used with respect to any Security or any installment of principal thereof or interest thereon,
means the date specified in such Security or a coupon representing such installment of interest as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 

“Subsidiary” means (i) any corporation at least a majority of whose outstanding Voting Stock shall at the time be
owned, directly or indirectly, by the Company or by one or more of its Subsidiaries or by the Company and one or more of its Subsidiaries, (ii) any general partnership, limited liability company, joint venture or similar entity, at least a
majority of whose outstanding partnership or similar interests shall at the time be owned by the Company, or by one or more of its Subsidiaries, or by the Company and one or more of its Subsidiaries and (iii) any limited partnership of which
the Company or any of its Subsidiaries is a general partner. 
 “Trustee” means U.S. Bank National Association
and, subject to the provisions of Article VII, shall also include its successors and assigns, and, if at any time there is more than one Person acting in such capacity hereunder, “Trustee” shall mean each such Person. The term
“Trustee” as used with respect to a particular series of the Securities shall mean the trustee with respect to that series. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended. 
 “Voting Stock,” as applied to stock of any Person, means shares, interests, participations or other equivalents in the equity interest (however designated) in such Person having ordinary
voting power for the election of a majority of the directors (or the equivalent) of such Person, other than shares, interests, participations or other equivalents having such power only by reason of the occurrence of a contingency. 

ARTICLE II 

ISSUE, DESCRIPTION, TERMS, EXECUTION, 
 REGISTRATION AND EXCHANGE OF SECURITIES 
 SECTION 2.01. Designation
and Terms of Securities. 
 (a) The aggregate principal amount of Securities that may be authenticated and delivered under
this Indenture is unlimited. The Securities may be issued in one or more series up to the aggregate principal amount of Securities of that series from time to time authorized by or pursuant to a Board Resolution of the Company or pursuant to one or
more indentures supplemental hereto. Prior to the initial issuance of Securities of any series, there shall be established in or pursuant to a Board Resolution of the Company, and set forth in an Officers’ Certificate of the Company, or
established in one or more indentures supplemental hereto: 
 (1) the title of the Security of the series (which
shall distinguish the Securities of the series from all other series of the Securities); 

  
 5 

 (2) any limit upon the aggregate principal amount of the Securities of that
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 that series) and whether that series may
be reopened for additional Securities of that series; in the event that such series of the Securities may be reopened from time to time for issuance of additional Securities of such series, the terms thereof shall indicate whether any such
additional Securities shall have the same terms as the prior Securities of such series or whether the Company may establish additional or different terms with respect to such additional Securities; 

(3) the date or dates (or manner of determining the same) on which the principal of and premium, if any, on the Securities
of the series is payable or the method of determination thereof; 
 (4) the place or places where payments will
be made; 
 (5) the place or places where the Securities may be exchanged or transferred; 

(6) the rate or rates at which the Securities of the series shall bear interest or the manner of calculation of such rate
or rates, if any; 
 (7) the date or dates from which such interest shall accrue, the Interest Payment Dates on
which such interest will be payable or the manner of determination of such Interest Payment Dates, and the Regular Record Date for the determination of holders to whom interest is payable on any such Interest Payment Dates; 

(8) the right, if any, to extend the interest payment periods and the duration of such extension; 

(9) the period or periods within which (or manner of determining the same), the price or prices at which (or manner of
determining the same) and the terms and conditions upon which, Securities of the series may be redeemed, in whole or in part, at the option of the Company, and any remarketing arrangements with respect to the Securities of that series; 

(10) the obligation, if any, of the Company to redeem or purchase Securities of the series pursuant to any sinking fund or
analogous provisions (including payments made in cash in participation of future sinking fund obligations) or at the option of a holder thereof and the period or periods within which (or manner of determining the same), the price or prices at which
(or manner of determining the same), and the terms and conditions upon which, Securities of the series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 

(11) the form of the Securities of the series (if other than in the form of Exhibit A hereto), including the form
of the Trustee’s certificate of authentication for such series and any legends or endorsements to be placed thereon; 

  
 6 

 (12) if other than denominations of $2,000 and any integral multiple of
$1,000 in excess thereof, the denominations in which the Securities of the series shall be issuable; 
 (13) any
and all other terms with respect to such series (which terms shall not be inconsistent with the terms of this Indenture), including any terms which may be required by or advisable under U.S. laws or regulations or advisable in connection with the
marketing of Securities of that series; 
 (14) whether the Securities are issuable as Global Securities or
definitive form or both and any restrictions on the exchange of one form of the Securities for another and on the offer, sale and delivery of the Securities in either form, and, if issuable as Global Securities, the identity for the Depositary for
such series; 
 (15) if other than the principal amount thereof, the portion of the principal amount of
Securities of the series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 6.01; 
 (16) any additional or different Events of Default or restrictive covenants provided for with respect to the Securities of the series; 

(17) any provisions granting special rights to holders when a specified event occurs; 

(18) if other than such coin or currency of the United States of America as at the time of payment is legal tender for
payment of public or private debts, the coin or currency or currency unit in which payment of the principal of, or premium, if any, or interest on the Securities of the series shall be payable; and 

(19) if payments of principal of or interest, if any, on the Securities are to be made in one or more currencies or
currency units other than that or those in which the Securities are denominated, the manner in which the exchange rate with respect to such payments will be determined; 

(20) the manner in which the amounts of payment of principal of or interest, if any, on the Securities will be determined,
if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index; 

(21) if a Person other than U.S. Bank National Association is to act as Trustee for the Securities of that series, the
name and location of the Corporate Trust Office of such Trustee; 
 (22) whether payment of any amount due under
such Securities will be guaranteed by one or more guarantors, including Subsidiaries of the Company; 

  
 7 

 (23) the application, if any, of Section 11.02 to the Securities of the
series and any other terms upon which the Securities of such series will be defeasible; 
 (24) if other than the
Trustee, the identity of the Registrar, Paying Agent and custodian for Depositary; 
 (25) if other than DTC, the
identity of the Depositary; and 
 (26) any other terms of the Securities of that series (which terms shall not
be inconsistent with the requirements of the Trust Indenture Act). 
 All Securities of any one series shall be substantially
identical except as to denomination and except as may otherwise be provided in or pursuant to any such Board Resolution and as set forth in an Officers’ Certificate of the Company or in any indentures supplemental hereto pertaining to such
series of Securities. All of the Securities of any one series need not be issued at the same time, and unless otherwise provided, a series may be reopened for issuance of additional Securities of such series. 

If any of the terms of the series are established by action taken pursuant to a Board Resolution of the Company, a copy of an appropriate
record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of (i) the Officers’ Certificate of the Company setting forth the terms of the
series and (ii) a Security of any series in any such form to the Trustee for such series for authentication. 

SECTION 2.02. Form of Securities and Trustee’s Certificate. 

(a) The Securities of each series shall be in substantially the form of Exhibit A hereto (unless otherwise provided under the
terms of such Securities established in accordance with Section 2.01), with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture or under the terms of such Securities established
in accordance with Section 2.01 and may have such letters, numbers or other marks of identification and such legends or endorsements (in addition to any required in accordance with Section 2.11) placed thereon as the Company may reasonably deem
appropriate and as are not inconsistent with the provisions of this Indenture, or as may be required to comply with any law, with any rule or regulation made pursuant thereto, with any rules of any securities exchange, automated quotation system or
clearing agency or to conform to usage, as may, consistently herewith, be determined by the officers executing such Securities, as evidenced by their execution of such Securities. 

The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary with respect to the Securities. The
Company initially appoints the Trustee as custodian for DTC. 
 (b) The definitive Securities shall be printed, lithographed or
engraved or produced by any combination of these methods or may be produced in any other manner, all as determined by the officers executing such Securities, as evidenced by their execution thereof. 

(c) The terms and provisions contained in the Securities of any series shall constitute, and are hereby expressly made, a part of this
Indenture with respect to such series of the Securities, and the Company and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound hereby; provided, however, that
to the extent any provision of any Security of any series thereon conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 

(d) The Trustee’s certificates of authentication shall be in substantially the following form: 

  
 8 

 “This is one of the Securities designated therein described in the within-mentioned Indenture.

  

			
	 U.S. Bank National Association,
 as Trustee

		
	By:	 	  

		 	Authorized Signatory”

 SECTION 2.03. Denominations; Provisions for Payment. 

(a) The Securities shall be issuable, except as otherwise provided under the terms of such Securities established in accordance with
Section 2.01, in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof, subject to Sections 2.01(11) and 2.01(17). The Securities of a particular series shall bear interest payable on the dates and at the rate specified
with respect to that series. Unless otherwise provided as contemplated by Section 2.01 with respect to any series of Securities, the principal of and the interest on the Securities of any series, as well as any premium thereon in case of
redemption thereof prior to maturity, shall be payable in the coin or currency of the United States of America that at the time is legal tender for public and private debt. Such payment shall be made at the Corporate Trust Office of the Trustee
(except as otherwise specified pursuant to Section 2.01). Each Security shall be dated the date of its authentication. Except as otherwise specified pursuant to Section 2.01 for the Securities of any particular series, interest on the
Securities of each series shall be computed on the basis of a 360-day year composed of twelve 30-day months. 
 (b) The interest
installment on any Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date for the Securities of that series shall be paid to the Person in whose name such Security (or one or more Predecessor Securities)
is registered at the close of business on the Regular Record Date for such interest installment. In the event that any Security of a particular series or portion thereof is called for redemption and the Redemption Date is subsequent to a Regular
Record Date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Security will be paid upon presentation and surrender of such Security as provided in Section 3.03. 

(c) Any interest on any Security that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date for
Securities of the same series (herein called “Defaulted Interest”) shall forthwith cease to be payable to the registered holder on the relevant Regular Record Date by virtue of having been such holder, and such Defaulted Interest
shall be paid by the Company, at its election, as provided in clause (1) or clause (2) below: 
 (1)
The Company may make payment of any Defaulted Interest on Securities to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a special record date (“Special Record
Date”) for the payment of such Defaulted Interest, which shall be fixed in the following manner: the Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each such Security and the date of
the proposed payment, and at the same time the Company 

  
 9 

 
shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee
for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record
Date for the payment of such Defaulted Interest which shall not be more than 15 nor 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
Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first
class postage prepaid, to each Securityholder at his or her address as it appears in the Security Register (as hereinafter defined), not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective Predecessor Securities) are registered on such Special Record Date and
shall be no longer payable pursuant to the following clause (2). 
 (2) The Company may make payment of any
Defaulted Interest on any Securities in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice
given by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 
 (d) Subject to the foregoing provisions of this Section, each Security of a series delivered under this Indenture upon transfer of or in exchange for or in lieu of any other Security of such series shall
carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 

  
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 SECTION 2.04. Execution and Authentications. 

(a) The Securities shall be signed on behalf of the Company by its Chairman of the Board of Directors, Chief Executive Officer, President
or one of its Vice Presidents, together with its Treasurer or any of its Assistant Treasurers, or its Controller or any of its Assistant Controllers, or its Secretary or any of its Assistant Secretaries, under its corporate seal which may, but need
not be, attested by its Secretary or one of its Assistant Secretaries. Such signatures may be the manual or facsimile signatures of the present or any future such officers. 
 In case any such officer who shall have signed any of the Securities shall cease to be such officer before the Security so signed shall be authenticated and delivered by the Trustee or disposed of by the
Company, such Security nevertheless may be authenticated and delivered or disposed of as though the Person who signed such Security had not ceased to be such officer of the Company; and any Security may be signed on behalf of the Company by such
Persons as, at the actual date of the execution of such Security, shall be the proper officers of the Company, although at the date of the execution and delivery of this Indenture any such Person was not such an officer. The seal of the Company may
be in the form of a facsimile of such seal and may be impressed, affixed, imprinted or otherwise reproduced on the Securities. The Securities may contain such notations, legends or endorsements required by law, stock exchange rule or usage. Each
Security shall be dated the date of its authentication by the Trustee. 
 (b) A Security shall not be valid until authenticated
manually by an authorized signatory of the Trustee, or by an Authenticating Agent. Such signature shall be conclusive evidence that the Security so authenticated has been duly authenticated and delivered hereunder and that the holder is entitled to
the benefits of this Indenture. 
 (c) At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series executed by the Company to the Trustee for authentication, together with a written order of the Company for the authentication and delivery of such Securities, signed by its Chairman of the Board of
Directors, Chief Executive Officer, President or any Vice President and its Treasurer or any Assistant Treasurer, or its Controller or any Assistant Controller or its Secretary or any Assistant Secretary, and the Trustee in accordance with such
written order shall authenticate and deliver such Securities. 
 If any Security shall be represented by a Global Security,
then, for purposes of this Section and Section 2.06, the notation of a beneficial owner’s interest therein upon original issuance of such Security or upon exchange of a portion of a temporary Global Security shall be deemed to have been
delivered in connection with the original issuance of such beneficial owner’s interest in such permanent Global Security. If all the Securities of any one series are not to be issued at one time and if a Board Resolution or Officers’
Certificate relating to such Securities shall so permit, such written order of the Company may set forth procedures acceptable to the Trustee for the issuance of such Securities, including, without limitation, procedures with respect to interest
rate, Stated Maturity, date of issuance and date from which interest, if any, shall accrue. 
 (d) In authenticating such
Securities and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be provided, and (subject to Section 7.01) shall be fully protected in relying upon, an Officers’ Certificate
and an Opinion of Counsel each stating in addition to the requirements of Section 13.06, that the form and terms thereof have been established in conformity with the provisions of this Indenture. 

  
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 (e) The Trustee shall not be required to authenticate such Securities if the issue of such
Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. 

(f) Notwithstanding any contrary provision herein, if all Securities of a series are not to be originally issued at one time, it shall
not be necessary to deliver the Board Resolution, Officers’ Certificate and Opinion of Counsel otherwise required hereunder at or prior to the time of authentication of each Security of such series if such documents are delivered at or prior to
the authentication upon original issuance of the first Security of such series to be issued. 
 SECTION 2.05.
Registration of Transfer and Exchange. 
 (a) Securities of any series may be exchanged upon presentation thereof at the
Corporate Trust Office of the Trustee (except as otherwise specified pursuant to Section 2.01) for other Securities of such series of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient to cover any
tax or other governmental charge in relation thereto, all as provided in this Section. In respect of any Securities so surrendered for exchange, the Company shall execute, the Trustee shall authenticate and such office or agency shall deliver in
exchange therefor the Security or Securities of the same series that the Securityholder making the exchange shall be entitled to receive, bearing numbers not contemporaneously outstanding. 

(b) The Company shall keep, or cause to be kept, at an office or agency designated for such purpose (the “Registrar”), a
register or registers (herein referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall register the Securities and the transfers of Securities as in this Article
provided and which at all reasonable times shall be open for inspection by the Trustee. The Registrar shall initially be the Trustee. 
 Upon surrender for transfer of any Security at the Corporate Trust Office of the Trustee (except as otherwise specified pursuant to Section 2.01), the Company shall execute, the Trustee shall authenticate
and such office or agency shall deliver in the name of the transferee or transferees a new Security or Securities of the same series as the Security presented for a like aggregate principal amount. 

All Securities presented or surrendered for exchange or registration of transfer, as provided in this Section, shall be accompanied (if
so required by the Company or the Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Registrar, duly executed by the registered holder or by such holder’s duly authorized attorney in
writing. 
 (c) No service charge shall be made for any exchange or registration of transfer of Securities, or issue of new
Securities in case of partial redemption of any series, but the Company and the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, other than exchanges pursuant to Section 2.06,
the second paragraph of Section 3.03 and Section 9.04 not involving any transfer. 

  
 12 

 (d) The Company shall not be required (i) to issue, exchange or register the transfer
of any Securities during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the Outstanding Securities of the same series and ending at the close of business on the day of
such mailing, nor (ii) to register the transfer or exchange of any Securities of any series or portions thereof called for redemption. 
 (e) The provisions of this Section 2.05 are, with respect to any Global Security, subject to Section 2.11 hereof. 
 SECTION 2.06. Temporary Securities. 
 Pending the preparation of
definitive Securities of any series, the Company may execute, and the Trustee shall authenticate and deliver, temporary Securities in lieu thereof (printed, lithographed or typewritten) in any authorized denomination. Such temporary Securities shall
be substantially in the form of the definitive Securities in lieu of which they are issued, but with such omissions, insertions and variations as may be appropriate for temporary Securities, all as may be determined by the Company. Every temporary
Security of any series 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 of such series. Without unnecessary delay,
the Company will execute and will furnish definitive Securities of such series and thereupon any or all temporary Securities of such series may be surrendered in exchange therefor (without charge to the holders), at the Corporate Trust Office of the
Trustee (except as otherwise specified pursuant to Section 2.01), and the Trustee shall authenticate and such office or agency shall deliver in exchange for such temporary Securities an equal aggregate principal amount of definitive Securities of
such series, unless the Company advises the Trustee to the effect that definitive Securities need not be executed and furnished until further notice from the Company. Until so exchanged, the temporary Securities of such series shall be entitled to
the same benefits under this Indenture as definitive Securities of such series authenticated and delivered hereunder. 

SECTION 2.07. Mutilated, Destroyed, Lost or Stolen Securities. 

(a) In case any temporary or definitive Security shall become mutilated or be destroyed, lost or stolen, the Company (subject to the next
succeeding sentence) shall execute, and upon the Company’s request the Trustee (subject as aforesaid) shall authenticate and deliver, a new Security of the same series, bearing a number not contemporaneously outstanding, in exchange and
substitution for the mutilated Security, or in lieu of and in substitution for the Security so destroyed, lost or stolen. In every case the applicant for a substituted Security shall furnish to the Company and the Trustee such security or indemnity
as may be required by them to save each of them harmless, and, in every case of destruction, loss or theft, the applicant shall also furnish to the Company and the Trustee evidence to their satisfaction of the destruction, loss or theft of the
applicant’s Security and of the ownership thereof. The Trustee shall authenticate any such substituted Security and deliver the same upon the written request or authorization of any officer of the Company. Upon the issuance of any substituted
Security, the Company may 

  
 13 

 
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. In case any Security that has matured or is about to mature shall become mutilated or be destroyed, lost or stolen, the Company may, instead of issuing a substitute Security, pay or authorize the payment of the same
(without surrender thereof except in the case of a mutilated Security) if the applicant for such payment shall furnish to the Company and the Trustee such security or indemnity as they may require to save them harmless, and, in case of destruction,
loss or theft, evidence to the satisfaction of the Company and the Trustee of the destruction, loss or theft of such Security and of the ownership thereof. 
 (b) Every replacement Security issued pursuant to the provisions of this Section shall constitute an additional contractual obligation of the Company whether or not the mutilated, destroyed, lost or
stolen Security shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of the same series duly issued hereunder. All
Securities shall be held and owned upon the express condition that the foregoing provisions are exclusive with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities, and shall preclude (to the extent lawful) any
and all other rights or remedies, notwithstanding any law or statute existing or hereafter enacted to the contrary with respect to the replacement or payment of negotiable instruments or other securities without their surrender. 

SECTION 2.08. Cancellation. 
 Securities surrendered for the purpose of payment, redemption, exchange or registration of transfer shall, if surrendered to the Company or any Paying Agent, be delivered to the Trustee for cancellation,
or, if surrendered to the Trustee, shall be cancelled by it, and no Securities shall be issued in lieu thereof except as expressly required or permitted by any of the provisions of this Indenture. On the written request of the Company at the time of
such surrender, the Trustee shall deliver to the Company canceled Securities held by the Trustee. In the absence of such request the Trustee may dispose of canceled Securities in accordance with its standard procedures and, upon written request of
the Company, deliver a certificate of disposition to the Company. If the Company shall otherwise acquire any of the Securities, however, such acquisition shall not operate as a redemption or satisfaction of the indebtedness represented by such
Securities unless and until the same are delivered to the Trustee for cancellation. 
 SECTION 2.09. Benefits of
Indenture. 
 Nothing in this Indenture or in the Securities, express or implied, shall give or be construed to give to any
Person, other than the parties hereto and the holders of the Securities, any legal or equitable right, remedy or claim under or in respect of this Indenture, or under any covenant, condition or provision herein contained; all such covenants,
conditions and provisions being for the sole benefit of the parties hereto and of the holders of the Securities. 

  
 14 

 SECTION 2.10. Authenticating Agent. 

(a) So long as any of the Securities of any series remain Outstanding there may be an Authenticating Agent for any or all such series of
Securities which the Trustee shall have the right to appoint. Such Authenticating Agent shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon exchange, transfer or partial redemption thereof, 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. All references in this Indenture to the authentication of Securities by
the Trustee shall be deemed to include authentication by an Authenticating Agent for such series. Each Authenticating Agent shall be acceptable to the Company and shall be a corporation that has a combined capital and surplus, as most recently
reported or determined by it, sufficient under the laws of any jurisdiction under which it is organized or in which it is doing business to conduct a trust business, and that is otherwise authorized under such laws to conduct such business and is
subject to supervision or examination by Federal or State authorities. If at any time any Authenticating Agent shall cease to be eligible in accordance with these provisions, it shall resign immediately. 

(b) Any Authenticating Agent may at any time resign by giving written notice of resignation to the Trustee and to the Company. The
Trustee may at any time (and upon request by the Company shall) terminate the agency of any Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon resignation, termination or cessation of
eligibility of any Authenticating Agent, the Trustee may appoint an eligible successor Authenticating Agent acceptable to the Company. Any successor Authenticating Agent, upon acceptance of its appointment hereunder, shall become vested with all the
rights, powers and duties of its predecessor hereunder as if originally named as an Authenticating Agent pursuant hereto. 

SECTION 2.11. Global Securities. 
 (a) If the Company shall establish pursuant to Section 2.01 that the Securities of a particular series are to be issued as one or more Global Securities, then the Company shall execute and the
Trustee shall, in accordance with Section 2.04, authenticate and deliver, one or more Global Securities that (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, all of the Outstanding
Securities of such series, (ii) shall be registered in the name of the Depositary or its nominee, (iii) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instruction and (iv) shall bear a legend
substantially to the following effect: 
 “THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO
AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE SECURITIES IN CERTIFICATED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY
(THE “DEPOSITARY”) TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

  
 15 

 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF [            ] OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO [            ] OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, HAS AN INTEREST HEREIN.” 
 (b) Notwithstanding the provisions of Section 2.05, a Global Security of a series may be transferred, in whole but not in part and in the manner provided in Section 2.05, only to another nominee
of the Depositary for such series or to a successor Depositary for such series selected or approved by the Company or to a nominee of such successor Depositary. 
 (c) (1) If at any time the Depositary for a series of the Securities notifies the Company that it is unwilling or unable to continue as Depositary for such series or if at any time the Depositary for
such series shall no longer be registered or in good standing under the Exchange Act, or other applicable statute or regulation, and a successor Depositary for such series is not appointed by the Company within 90 days after the Company receives
such notice or becomes aware of such condition, as the case may be, or (2) an Event of Default has occurred and is continuing with respect to the Securities of such series and the Depositary requests the issuance of certificated Securities,
this Section 2.11 shall no longer be applicable to the Securities of such series and the Company will execute, and subject to Section 2.05, the Trustee will authenticate and deliver the Securities of such series in definitive registered
form without coupons, in authorized denominations, and in an aggregate principal amount equal to the principal amount of the Global Security or Securities of such series in exchange for such Global Security or Securities. 

In addition, the Company may at any time determine that the Securities of any series shall no longer be represented by a Global Security
or Securities and that the provisions of this Section 2.11 shall no longer apply to the Securities of such series. In such event the Company will execute and subject to Section 2.05, the Trustee, upon receipt of an Officers’
Certificate evidencing such determination by the Company, will authenticate and deliver the Securities of such series in definitive registered form without coupons, in authorized denominations, and in an aggregate principal amount equal to the
principal amount of the Global Security or Securities of such series in exchange for such Global Security or Securities. 
 Upon
the exchange of the Global Security or Securities for such Securities in definitive registered form without coupons, in authorized denominations, the Global Security or Securities shall be canceled by the Trustee in accordance with
Section 2.08. Such Securities in definitive registered form issued in exchange for the Global Security or Securities pursuant to this clause (c) shall be registered in such names and in such authorized denominations as the Depositary,
pursuant to instructions from its direct or indirect participants or otherwise, shall instruct the Trustee. The Trustee shall deliver such Securities to the Depositary for delivery to the Persons in whose names such Securities are so registered.

  
 16 

 SECTION 2.12. CUSIP Numbers. 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use) or common code, ISIN, or other
identifying numbers (collectively, “Identifying Numbers”) and, if so, the Trustee shall use such Identifying 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 Identifying 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 identifying 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 in writing the Trustee and holders of applicable Securities of any change in the Identifying Numbers of
Securities of any series. 
 SECTION 2.13. Ranking. 

The Securities shall constitute the senior indebtedness of the Company and shall rank pari passu in right of payment among
themselves and with all of the other existing and future senior indebtedness of the Company, and will be effectively subordinated to all liabilities of the Company’s subsidiaries, including trade payables. 

ARTICLE III 
 REDEMPTION OF SECURITIES AND SINKING FUND PROVISIONS 
 SECTION 3.01.
Redemption. 
 Securities of any series which are redeemable before their Stated Maturity shall be redeemable in
accordance with their terms and (except as otherwise specified as contemplated by Section 2.01 for such Securities) in accordance with this Article. 
 SECTION 3.02. Election to Redeem; Notice of Redemption. 
 (a) In case
the Company shall desire to redeem all or a portion, as the case may be, of the Securities of any series, the Company shall, or shall cause the Trustee to, give notice of such redemption to holders of the Securities of such series to be redeemed in
the manner provided in Section 13.03(b) a notice of such redemption not less than 30 days and not more than 60 days before the date fixed for redemption of that series unless a shorter period is specified in the Securities to be redeemed.
Failure to duly give such notice to the holder of any Security of any series designated for redemption in whole or in part, or any defect in the notice, shall not affect the validity of the proceedings for the redemption of any other Securities of
such series or any other series. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the Company shall furnish the Trustee
with an Officers’ Certificate evidencing compliance with any such restriction. 
 (b) Each notice of redemption shall
specify and state: 
 (1) the Redemption Date; 

  
 17 

 (2) the redemption price at which Securities of that series are to be
redeemed; 
 (3) that payment of the redemption price of such Securities to be redeemed will be made at the
office or agency of the Company in the Borough of Manhattan, the City and State of New York, upon presentation and surrender of such Securities; 
 (4) that interest accrued to the date fixed for redemption will be paid as specified in such notice and that from and after such date interest will cease to accrue; 

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

(6) if less than all of the Outstanding Securities of a particular series are to be redeemed, the identification of the
particular Securities to be redeemed; 
 (7) in case any Security is to be redeemed in part only, the notice that
relates to such Security shall state (i) the portion of the principal amount thereof to be redeemed, and (ii) that on and after the Redemption Date, upon surrender of such Security, a new Security or Securities of such series in principal
amount equal to the unredeemed portion thereof will be issued; 
 (8) CUSIP numbers or Identifying Numbers, if
any, of the Securities to be redeemed; and 
 (9) such other provisions as may be required in respect of the
terms of a particular series of the Securities. 
 (c) The Company shall give the Trustee at least 45 days’ notice in
advance of the date fixed for redemption as to the aggregate principal amount of Securities of the series to be redeemed. If less than all the Securities are to be redeemed, upon receipt of such notice by the Trustee, the Trustee shall select, in
accordance with the rules of the Depositary, the Securities (or portions thereof) of such series to be redeemed and shall thereafter promptly notify the Company in writing of the CUSIP numbers or Identifying Numbers of the Securities to be redeemed,
in whole or in part. In case of any such redemption in part, the redeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such Security.

 Notwithstanding anything else contained in this Section, the selection of the Securities, or portions thereof, that are
represented by a Global Security or that are held by or on behalf of a Depositary, in the case of any partial redemption, shall also be made in accordance with the applicable rules and procedures of such Depositary and neither the Trustee nor the
Company shall have any liability or responsibility with respect thereto. 

  
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 (d) The election of the Company to redeem any Securities of any series shall be evidenced by
or pursuant to a Board Resolution. The Company may, if and whenever it shall so elect, by delivery of instructions signed on its behalf by its Chairman of the Board of Directors, Chief Executive Officer, President or any Vice President, instruct the
Trustee or any Paying Agent to call all or any part of the Securities of a particular series for redemption and to give notice of redemption in the manner set forth in this Section, such notice to be in the name of the Company or its own name as the
Trustee or such Paying Agent may deem advisable. In any case in which notice of redemption is to be given by the Trustee or any such Paying Agent, the Company shall deliver or cause to be delivered to, or permit to remain with, the Trustee or such
Paying Agent, as the case may be, such Security Register, transfer books or other records, or suitable copies or extracts therefrom, sufficient to enable the Trustee or such Paying Agent to give any notice by mail that may be required under the
provisions of this Section. 
 SECTION 3.03. Payment Upon Redemption. 

(a) Prior to the opening of business on any Redemption Date, the Company shall deposit with the Trustee for the Securities to be redeemed
or with a Paying Agent for such Securities (or, if the Company is acting as its own Paying Agent for such Securities, segregate and hold in trust as provided in Section 4.03(b)) an amount of money in the currency or currency unit in which the
Securities of such series are payable (except as otherwise specified pursuant to Section 2.01 for the Securities of such series) sufficient to pay the principal amount of (and premium, if any, thereon), and (except if the Redemption Date shall
be an Interest Payment Date) any accrued interest on, all the Securities which are to be redeemed on that date. 
 (b) If the
giving of notice of redemption shall have been completed as provided in Section 3.02, the Securities or portions of Securities of the series to be redeemed specified in such notice shall become due and payable on the date and at the place
stated in such notice at the applicable redemption price, together with interest accrued to the date fixed for redemption and interest on such Securities or portions of Securities shall cease to accrue on and after the date fixed for redemption,
unless the Company shall default in the payment of such redemption price and accrued interest with respect to any such Security or portion thereof. On presentation and surrender of such Securities on or after the date fixed for redemption at the
place of payment specified in the notice, such Securities shall be paid and redeemed at the applicable redemption price for such series, together with interest accrued thereon to the date fixed for redemption (but if the date fixed for redemption is
an Interest Payment Date, the interest installment payable on such date shall be payable to the registered holder at the close of business on the Regular Record Date pursuant to Section 2.03). If any Security called for redemption shall not be
so paid upon surrender thereof for redemption, the principal thereof (and premium, if any, thereon) shall, until paid, bear interest from the Redemption Date at a rate per annum equal to the rate borne by the Security. 

(c) Upon presentation and surrender of any Security of such series that is to be redeemed in part only, the Company shall execute and the
Trustee shall authenticate and deliver to the holder of such Security, at the expense of the Company, a new Security or Securities, of any authorized denominations as requested by such holder, of the same series and having the same terms and
provisions and in an aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so presented and surrendered; provided, however, that if a Global Security is so presented and
surrendered, such new Security so issued shall be a new Global Security in a denomination equal to the unredeemed portion of the principal of the Global Security so surrendered. 

  
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 SECTION 3.04. Sinking Fund. 

(a) The provisions of Sections 3.04, 3.05 and 3.06 shall be applicable to any sinking fund for the retirement of Securities of a series,
except as otherwise specified as contemplated by Section 2.01 for Securities of such series. 
 (b) The minimum amount of
any sinking fund payment provided for by the terms of Securities of any series is herein referred to as a “Mandatory Sinking Fund Payment,” and any payment in excess of such minimum amount provided for by the terms of Securities of
any series is herein referred to as an “Optional Sinking Fund Payment.” If provided for by the terms of Securities of any series, the cash amount of any sinking fund payment may be subject to reduction as provided in
Section 3.05. Each sinking fund payment shall be applied to the redemption of Securities of any series as provided for by the terms of Securities of such series. 
 SECTION 3.05. Satisfaction of Sinking Fund Payments with Securities. 

The Company (a) may deliver Outstanding Securities of a series (other than any Securities previously called for redemption) and
(b) may apply as a credit Securities of a series that have been redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted Optional Sinking Fund Payments pursuant to the terms
of such Securities, in each case in satisfaction of all or any part of any sinking fund payment with respect to the Securities of such series required to be made pursuant to the terms of such Securities as provided for by the terms of such series,
provided that such Securities have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the redemption price specified in such Securities for redemption through operation of the
sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 
 SECTION 3.06. Redemption of
Securities for Sinking Fund. 
 Not less than 45 days prior to each sinking fund payment date for any series of Securities,
the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing sinking fund payment for that series pursuant to the terms of the series, the portion thereof, if any, that is to be satisfied by
delivering and crediting Securities of that series pursuant to Section 3.05 and the basis for such credit and will, together with such Officers’ Certificate, deliver to the Trustee any Securities to be so delivered. Not less than 30 days
before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.02 and cause notice of the redemption thereof to be given in the name of
and at the expense of the Company in the manner provided in Section 3.02. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Section 3.03. 

  
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 ARTICLE IV 
 CERTAIN COVENANTS 
 SECTION 4.01. Payment of Principal, Premium and
Interest. 
 The Company agrees, for the benefit of each particular series of the Securities, that it will duly and
punctually pay or cause to be paid (in the currency or currency unit in which the Securities of such series are payable) the principal of and premium, if any, and the interest on that series of the Securities in accordance with the terms of the
Securities of such series and this Indenture. 
 SECTION 4.02. Maintenance of Office or Agency. 

So long as any series of the Securities remain Outstanding, the Company agrees to maintain an office or agency in the Borough of
Manhattan, the City and State of New York, with respect to each such series and at such other location or locations as may be designated as provided in this Section 4.02, where (a) Securities of that series may be presented or surrendered
for payment, (b) Securities of that series may be presented and surrendered as hereinabove authorized for registration of transfer and exchange, and (c) notices and demands to or upon the Company in respect of the Securities of that series
and this Indenture may be given or served, such designation to continue with respect to such office or agency until the Company shall, by written notice signed by its Chairman of the Board of Directors, Chief Executive Officer, President or a Vice
President and delivered to the trustee, designate some other office or agency for such purposes or any of them. 
 If at any
time the Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, notices and demands may be made or served at the Corporate Trust Office of the Trustee.
Unless otherwise specified with respect to any Securities pursuant to Section 2.01 with respect to a series of the Securities, the Company hereby appoints the Trustee as its agent to receive all such presentations, notices and demands.

 SECTION 4.03. Paying Agents. 
 (a) The Company may appoint one or more Paying Agents for the Securities. The Company may change any Paying Agent without prior notice to any holder of the Securities. The Company shall notify the Trustee
in writing of the name and address of any Paying Agent not a party to this Indenture. If the Company fails to appoint or maintain another entity as Paying Agent, the Trustee shall, to the extent that it is capable, act as such. The Company or any of
its domestic Subsidiaries may act as Paying Agent. The Company initially appoints the Trustee to act as the Paying Agent. 
 (b)
If the Company shall appoint one or more Paying Agents for all or any series of the Securities, other than the Trustee, the Company will cause each such Paying Agent to execute and deliver to the Trustee an instrument in which such agent shall agree
with the Trustee, subject to the provisions of this Section: 
 (1) that it will hold all sums held by it as such
agent for the payment of the principal of (and premium, if any) or interest on the Securities of that series (whether such sums have been paid to it by the Company or by any other obligor of such Securities) in trust for the benefit of the Persons
entitled thereto; 
 (2) that it will give the Trustee notice of any failure by the Company (or by any other
obligor of such Securities) to make any payment of the principal of (and premium, if any) or interest on the Securities of that series when the same shall be due and payable; 

  
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 (3) that it will, at any time during the continuance of any failure referred
to in the preceding paragraph (a)(2) above, upon the written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent; and 

(4) that it will perform all other duties of Paying Agent as set forth in this Indenture. 

(c) If the Company shall act as its own Paying Agent with respect to any series of the Securities, it will on or before each due date of
the principal of (and premium, if any) or interest on Securities of that series, 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 interest so
becoming due on Securities of that series until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of such action, or any failure (by it or any other obligor on such Securities)
to take such action. Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, prior to each due date of the principal of (and premium, if any) or interest on any Securities of that series, deposit with the
Paying Agent a sum sufficient to pay the principal (and premium, if any) or interest so becoming due, such sum to be held in trust for the benefit of the Persons entitled to such principal, premium or interest, and (unless such Paying Agent is the
Trustee) the Company will promptly notify the Trustee of this action or failure so to act. 
 (d) Notwithstanding anything in
this Section to the contrary, (1) the agreement to hold sums in trust as provided in this Section is subject to the provisions of Section 11.05, and (2) 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 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 and conditions 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 shall be released from all further liability with respect to such money. 

SECTION 4.04. Appointment to Fill Vacancy in Office of Trustee. 

(a) The Company, whenever necessary to avoid or fill a vacancy in the office of Trustee, will appoint, in the manner provided in
Section 7.10, a Trustee, so that there shall at all times be a Trustee hereunder. 

  
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 ARTICLE V 
 SECURITYHOLDERS’ LISTS AND REPORTS 
 BY THE COMPANY AND THE TRUSTEE

 SECTION 5.01. Company to Furnish Trustee Names and Addresses of Holders. 

If the Trustee is not the Registrar, the Company shall cause the Registrar to furnish to the Trustee, in writing at least five Business
Days before each Interest Payment Date 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 Holders of Securities of each series.

 SECTION 5.02. Preservation of Information; Communications to Holders. 

(a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the
most recent list furnished to the Trustee as provided in Section 5.01and the names and addresses of Holders received by the Trustee in its capacity as Registrar. The Trustee may dispose of any list furnished to it as provided in
Section 5.01 upon receipt of a new list so furnished. 
 (b) The rights of Holders to communicate with other Holders with
respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

(c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor
the Trustee nor any agent of either of them shall be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the Trust Indenture Act, as if the Trust Indenture Act were applicable.

 SECTION 5.03. Reports by the Company. 
 (a) The Company will file with the Trustee, within 15 days after the Company is required to file the same with the Commission, copies of the annual reports and of the information, documents and other
reports (or copies of such portions of any of the foregoing as the Commission may from time to time by rules and regulations prescribe) that the Company may be required to file with the Commission pursuant to Section 13 or Section 15(d) of
the Exchange Act; or, if the Company is not required to file information, documents or reports pursuant to either of such sections, then to file with the Trustee and the Commission, in accordance with the rules and regulations prescribed from time
to time by the Commission, if any, such of the supplementary and periodic information, documents and reports that may be required pursuant to 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) The Company will file with the
Trustee and the Commission, in accordance with the rules and regulations prescribed from to time by the Commission, if any, such additional information, documents and reports with respect to compliance by the Company with the conditions and
covenants provided for in this Indenture if and as may be required from time to time by such rules and regulations. 

  
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 (c) The Company will transmit by mail, first class postage prepaid, or reputable over-night
delivery service that provides for evidence of receipt, to the Securityholders, as their names and addresses appear upon the Security Register or as otherwise provided for in Section 313(c) of the Trust Indenture Act, within 30 days after the
filing thereof with the Trustee (unless some other time shall be fixed by the Commission), copies or summaries of any information, documents and reports required to be filed by the Company pursuant to subsections (a) and (b) of this
Section as may be required by rules and regulations prescribed from time to time by the Commission. 
 (d) Delivery of reports,
information and documents to the Trustee is for informational purposes only and shall not constitute a representation or warranty as to the accuracy or completeness of the reports, information and documents. The Trustee’s receipt of such shall
not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of their covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates of the Company). 
 SECTION 5.04. Reports by the Trustee. 

(a) On or before May 15 in each year in which any of the Securities are Outstanding, the Trustee shall transmit by mail, first class
postage prepaid, to the Securityholders, as their names and addresses appear upon the Security Register, a brief report dated as of the preceding May 15, if and to the extent required under Section 313(a) of the Trust Indenture Act.

 (b) The Trustee shall comply with Section 313(b) and 313(c) of the Trust Indenture Act. 

(c) A copy of each such report shall, at the time of such transmission to Securityholders, be filed by the Trustee with (1) the
Company, (2) each stock exchange upon which any Securities are listed (if so listed) and (3) the Commission. The Company agrees to notify the Trustee when any Securities become listed on any stock exchange. 

SECTION 5.05. No Accountability by Reason of Disclosure. 

Each and every Securityholder, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor
the Trustee shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Securityholders in accordance with the provisions of this Article V, 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 this Article V. 

  
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 ARTICLE VI 
 REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON 
 EVENT OF DEFAULT

 SECTION 6.01. Events of Default. 
 (a) Whenever used herein with respect to Securities of a particular series, “Event of Default” means any one or more of the following events that has occurred and is continuing:

 (1) the Company defaults in the payment of any installment of interest upon any of the Securities of that
series, as and when the same shall become due and payable, and continuance of such default for a period of 30 days; provided, however, that a valid extension of an interest payment period by the Company in accordance with the terms of
such Securities established pursuant to Section 2.01 shall not constitute a default in the payment of interest for this purpose; 
 (2) the Company defaults in the payment of the principal of (or premium, if any, on) any of the Securities of that series as and when the same shall become due and payable whether at Maturity, upon
redemption, by declaration or otherwise, or in any payment required by any sinking or analogous fund established with respect to that series; provided, however, that a valid extension of the Maturity of such Securities in accordance
with the terms of such Securities established pursuant to Section 2.01 shall not constitute a default in the payment of principal or premium, if any, for this purpose; 

(3) the Company fails to observe or perform any other of its covenants or agreements with respect to that series contained
in this Indenture or otherwise established with respect to that series of Securities pursuant to Section 2.01 hereof (other than a covenant or agreement that has been expressly included in this Indenture solely for the benefit of one or more
series of Securities other than such series) for a period of 30 days after the date on which written notice of such failure, requiring the same to be remedied and stating that such notice is a “Notice of Default” hereunder, shall have been
given to the Company by the Trustee, by registered or certified mail, or to the Company and the Trustee by the holders of at least 25% in principal amount of the Securities of that series at the time Outstanding; 

(4) the Company pursuant to or within the meaning of any Bankruptcy Law (i) commences a voluntary case,
(ii) consents to the entry of an order for relief against it in an involuntary case, (iii) consents to the appointment of a Custodian of it or for all or substantially all of its property or (iv) makes a general assignment for the
benefit of its creditors; or 
 (5) a court of competent jurisdiction enters an order under any Bankruptcy Law
that (i) is for relief against the Company in an involuntary case, (ii) appoints a Custodian of the Company for all or substantially all of their respective property, or (iii) orders the liquidation of the Company, and the order or
decree remains unstayed and in effect for 90 days. 

  
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 (b) If an Event of Default occurs (other than an Event of Default relating to bankruptcy,
insolvency or reorganization described in clause (4) and clause (5) above) and is continuing, either the Trustee or the holders of not less than 25% in aggregate principal amount of the Securities of that series then Outstanding hereunder,
by notice in writing to the Company (and to the Trustee if given by such Securityholders), may declare the entire principal of all the Securities of that series to be due and payable immediately, and upon any such declaration the principal, together
with accrued interest and all other amounts owing, shall become and shall be immediately due and payable, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived, notwithstanding anything contained in
this Indenture or in the Securities of that series or established with respect to that series pursuant to Section 2.01 to the contrary. 
 If any Event of Default specified in clause (4) and clause (5) above occurs with respect to the Company, all of the unpaid principal amount and accrued interest on all of the Securities of each
series then Outstanding shall ipso facto become and be immediately due and payable without any declaration or other act by the Trustee or any Holder. 
 (c) At any time after the principal of the Securities of that series shall have been so declared due and payable, and before any judgment or decree for the payment of the moneys due shall have been
obtained or entered as hereinafter provided, the holders of a majority in aggregate principal amount of the Securities of that series then Outstanding hereunder, by written notice to the Company and the Trustee, may rescind and annul such
declaration and its consequences if: 
 (1) the Company has paid or deposited with the Trustee a sum sufficient
to pay (i) all matured installments of interest upon all the Securities of that series, (ii) the principal of (and premium, if any, on) any and all Securities of that series that shall have become due otherwise than by acceleration (with
interest upon such principal and premium, if any, (iii) to the extent that such payment is enforceable under applicable law, interest upon overdue installments of interest, at the rate per annum expressed in the Securities of that series to the
date of such payment or deposit) and (iv) the amount payable to the Trustee under Section 7.06; and 

(2) any and all Events of Default under the Indenture with respect to such series, other than the nonpayment of principal
on Securities of that series that shall not have become due by their terms, shall have been remedied or waived as provided in Section 6.06. No such rescission and annulment shall extend to or shall affect any subsequent default or impair any
right consequent thereon. 
 (d) In case the Trustee shall have proceeded to enforce any right with respect to Securities of
that series under this Indenture and such proceedings shall have been discontinued or abandoned because of such rescission or annulment or for any other reason or shall have been determined adversely to the Trustee, then and in every such case the
Company, and the Trustee shall be restored respectively to their former positions and rights hereunder, and all rights, remedies and powers of the Company and the Trustee shall continue as though no such proceedings had been taken. 

  
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 SECTION 6.02. Collection of Indebtedness and Suits for Enforcement by Trustee.

 (a) The Company covenants that: 
 (1) in case it shall default in the payment of any installment of interest on any of the Securities of a series, or any payment required by any sinking or analogous fund established with respect to that
series as and when the same shall have become due and payable, and such default shall have continued for a period of 90 Business Days, or 
 (2) in case it shall default in the payment of the principal of (or premium, if any, on) any of the Securities of that series when the same shall have become due and payable, whether upon Maturity of the
Securities of a series or upon redemption or upon declaration or otherwise, then, upon demand of the Trustee, 
 the Company
will pay to the Trustee, for the benefit of the holders of the Securities of that series, the whole amount that then shall have been become due and payable on all such Securities for principal (and premium, if any) or interest, or both, as the case
may be, with interest upon the overdue principal (and premium, if any) and (to the extent that payment of such interest is enforceable under applicable law) upon overdue installments of interest at the rate per annum expressed in the Securities of
that series; and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, and the amount payable to the Trustee under Section 7.06. 

(b) If the Company shall fail to pay such amounts forthwith upon such demand, the Trustee, in its own name and as trustee of an express
trust, shall be entitled and empowered to institute any action or proceedings at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree, and may enforce any such
judgment or final decree against the Company or other obligor upon the Securities of that series and collect the moneys adjudged or decreed to be payable in the manner provided by law out of the property of the Company or other obligor upon the
Securities of that series, wherever situated. 
 (c) In case of any receivership, insolvency, liquidation, bankruptcy,
reorganization, readjustment, arrangement, composition or judicial proceedings affected the Company, or its creditors or property, the Trustee shall have power to intervene in such proceedings and take any action therein that may be permitted by the
court and shall (except as may be otherwise provided by law) be entitled to file such proofs of claim and other papers and documents as may be necessary or advisable in order to have the claims of the Trustee and of the holders of Securities of that
series allowed for the entire amount due and payable by the Company under the Indenture at the date of institution of such proceedings and for any additional amount that may become due and payable by the Company after such date, and to

  
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collect and receive any moneys or other property payable or deliverable on any such claim, and to distribute the same after the deduction of the amount payable to the Trustee under
Section 7.06; and any receiver, assignee or trustee in bankruptcy or reorganization is hereby authorized by each of the holders of Securities of that series to make such payments to the Trustee, and, in the event that the Trustee shall consent
to the making of such payments directly to such Securityholders, to pay to the Trustee any amount due it under Section 7.06. 
 (d) All rights of action and of asserting claims under this Indenture, or under any of the terms established with respect to Securities of that series, may be enforced by the Trustee without the
possession of any of such Securities, or the production thereof at any trial or other proceeding relative thereto, and any such suit or 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 payment to the Trustee of any amounts due under Section 7.06, be for the ratable benefit of the holders of the Securities of such series. 

(e) In case of an Event of Default hereunder, the Trustee may in its discretion proceed to protect and enforce the rights vested in it by
this Indenture by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any of such rights, either at law or in equity or in bankruptcy or otherwise, whether for the specific enforcement of any
covenant or agreement contained in the Indenture or in aid of the exercise of any power granted in this Indenture, or to enforce any other legal or equitable right vested in the Trustee by this Indenture or by law. 

(f) Nothing contained herein shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Securityholder any plan of reorganization, arrangement, adjustment or composition affecting the Securities of that series or the rights of any holder thereof or to authorize the Trustee to vote in respect of the claim of any Securityholder in any
such proceeding. 
 SECTION 6.03. Application of Moneys Collected. 

Any moneys collected by the Trustee with respect to a series of Securities under this Article VI shall be applied in the following order,
at the date or dates fixed by the Trustee for the distribution of such moneys, and, in case of the distribution of such moneys on account of principal (or premium, if any) or interest, upon presentation of the Securities of that series, stamping
thereon the payment if only partially paid, and upon surrender thereof, if fully paid: 
 FIRST: To the payment
of costs and expenses of collection and of all amounts payable to the Trustee under Section 7.06; and 

SECOND: To the payment of the amounts then due and unpaid upon Securities of such series for principal (and premium, if
any) and interest, in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal (and premium, if any)
and interest, respectively. 

  
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 SECTION 6.04. Limitation on Suits. 

(a) No holder of any Security of any series shall have any right by virtue or by availing of any provision of this Indenture to institute
any suit, action or proceeding in equity or at law upon or under or with respect to this Indenture or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 

(1) such holder previously shall have given to the Trustee written notice of an Event of Default and of the continuance
thereof with respect to the Securities of such series specifying such Event of Default, as hereinbefore provided; 
 (2) the holders of not less than 25% in aggregate principal amount of the Securities of such series then Outstanding shall have made written request upon the Trustee to institute such action, suit or
proceeding in its own name as trustee hereunder; 
 (3) such holder or holders shall have offered to the Trustee
such reasonable indemnity as it may require against the costs, expenses and liabilities to be incurred therein or thereby; 
 (4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity, shall have failed to institute any such action, suit or proceeding; and 

(5) during such 60 day period, the holders of a majority in principal amount of the Securities of that series do not give
the Trustee a direction inconsistent with the request. 
 (b) Notwithstanding anything contained herein to the contrary, the
right of any holder of any Security to receive payment of the principal of (and premium, if any) and interest on such Security, as therein provided, on or after the respective due dates expressed in such Security (or in the case of redemption, on
the Redemption Date), or to institute suit for the enforcement of any such payment on or after such respective dates or Redemption Date, shall not be impaired or affected without the consent of such holder, and by accepting a Security hereunder it
is expressly understood, intended and covenanted by the taker and holder of every Security of such series with every other such taker and holder and the Trustee, that no one or more holders of the Securities of such series shall have any right in
any manner whatsoever by virtue or by availing of any provision of this Indenture to affect, disturb or prejudice the rights of the holders of any other of such Securities, or to obtain or seek to obtain priority over or preference to any other such
holder, or to enforce any right under this Indenture, except in the manner herein provided and for the equal, ratable and common benefit of all holders of Securities of such series. 

(c) For the protection and enforcement of the provisions of this Section, each and every Securityholder and the Trustee shall be entitled
to such relief as can be given either at law or in equity. 

  
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 SECTION 6.05. Rights and Remedies Cumulative; Delay or Omission Not Waiver.

 (a) Except as otherwise provided in Section 2.07, all powers and remedies given by this Article to the Trustee or to the
Securityholders shall, to the extent permitted by law, be deemed cumulative and not exclusive of any other powers and remedies available to the Trustee or the holders of the Securities, by judicial proceedings or otherwise, to enforce the
performance or observance of the covenants and agreements contained in this Indenture or otherwise established with respect to such Securities. 
 (b) No delay or omission of the Trustee or of any holder of any of the Securities to exercise any right or power accruing upon any Event of Default occurring and continuing as aforesaid shall impair any
such right or power, or shall be construed to be a waiver of any such default or on acquiescence therein; and, subject to the provisions of Section 6.04, every power and remedy given by this Article or by law to the Trustee or the
Securityholders may be exercised from time to time, and as often as shall be deemed expedient, by the Trustee or by the Securityholders. 
 SECTION 6.06. Control by Securityholders. 
 (a) Subject to
Section 6.01(c)(1)(iv), the holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding, determined in accordance with Section 8.04, shall have the right to direct the time, method and place
of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee with respect to such series; provided, however, that such direction shall not be in conflict with any rule
of law or with this Indenture or be unduly prejudicial to the rights of holders of Securities of any other series at the time Outstanding determined in accordance with Section 8.04. 

(b) Subject to the provisions of Section 7.01, the Trustee shall have the right to decline to follow any such direction if the
Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee, determine that the proceeding so directed would involve the Trustee in personal liability. 
 (c) The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding affected thereby, determined in accordance with Section 8.04, may on behalf of the
holders of all of the Securities of such series waive any past default in the performance of any of the covenants contained herein or established pursuant to Section 2.01with respect to such series and its consequences, except a default in the
payment of the principal of, or premium, if any, or interest on, any of the Securities of that series as and when the same shall become due by the terms of such Securities otherwise than by acceleration (unless such default has been cured and a sum
sufficient to pay all matured installments of interest and principal and any premium has been deposited with the Trustee in accordance with Section 6.01(c)). Upon any such waiver, the default covered thereby shall be deemed to be cured for all
purposes of this Indenture and the Company, the Trustee and the holders of the Securities of such series shall be restored to their former positions and rights hereunder, respectively; but no such waiver shall extend to any subsequent or other
default or impair any right consequent thereon. 

  
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 SECTION 6.07. Undertaking to Pay Costs. 

All parties to this Indenture agree, and each holder of any Securities 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 or omitted by it as Trustee, the filing by any party litigant
in such suit of an undertaking to pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in such suit, having due regard to the merits and
good faith of the claims or defenses made by such party litigant; but the provisions of this Section shall not apply to any suit instituted by the Trustee, to any suit instituted by any Securityholder, or group of Securityholders, holding more than
10% in aggregate principal amount of the Outstanding Securities of any series, or to any suit instituted by any Securityholder for the enforcement of the payment of the principal of (or premium, if any) or interest on any Security of such series, on
or after the respective due dates expressed in such Security or established pursuant to this Indenture. 
 ARTICLE VII

 CONCERNING THE TRUSTEE 
 SECTION 7.01. Certain Duties and Responsibilities of Trustee. 
 (a)
The Trustee, prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing of all Events of Default with respect to the Securities of that series that may have occurred, shall undertake to perform
with respect to the Securities of such series such duties and only such duties as are specifically set forth in this Indenture, and no implied covenants shall be read into this Indenture against the Trustee. In case an Event of Default with respect
to the Securities of a series has occurred (that has not been cured or waived), the Trustee shall exercise with respect to the Securities of that series 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 man would exercise or use under the circumstances in the conduct of his own affairs. 

(b) Within ninety (90) days after the occurrence of an Event of Default with respect to the Securities of a series, the Trustee
shall give to the holders of the Securities of such series, as provided in Section 313(c) of the Trust Indenture Act, notice of each default with respect to the Securities of such series actually known to a Responsible Officer of the Trustee,
unless such Event of Default shall have been cured before the giving of such notice; but, unless such default be the failure to pay the principal of, or premium, if any, or interest on any of the Securities of such series when and as the same shall
become payable, or to make any sinking fund payment as to Securities of the same series, the Trustee shall be protected in withholding such notice, if and so long as the board of directors, the executive committee or a trust committee of directors
or Responsible Officers of the Trustee in good faith determine that the withholding of such notice is in the interests of the holders of the Securities of such series. 

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

(1) prior to the occurrence of an Event of Default with respect to the Securities of a series and after the curing or
waiving of all such Events of Default with respect to that series that may have occurred: 
 (i) the duties and
obligations of the Trustee shall with respect to the Securities of such series be determined solely by the express provisions of this Indenture, and the Trustee shall not be liable with respect to the Securities of such series 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; and 

(ii) in the absence of bad faith on the part of the Trustee, the Trustee may with respect to the Securities of such series
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 that 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 requirement of this Indenture;

 (2) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or
Responsible Officers of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (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 not less than a majority in principal
amount of the Securities of any series at the time Outstanding relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this
Indenture with respect to the Securities of that series; and 
 (4) None of the provisions contained in this
Indenture shall require the Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if there is reasonable ground for
believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Indenture or adequate indemnity against such risk is not reasonably assured to it. 

  
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 SECTION 7.02. Certain Rights of Trustee. 

Except as otherwise provided in Section 7.01: 
 (a) the Trustee may rely and shall be protected in acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval,
bond, security 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 Board Resolution or an instrument signed in the name of the Company, by the Chairman of the
Board of Directors, the Chief Executive Officer, the President or any Vice President and by the Treasurer or an Assistant Treasurer, or the Controller or an Assistant Controller, or the Secretary or an Assistant Secretary thereof (unless other
evidence in respect thereof is specifically prescribed herein); 
 (c) the Trustee may consult with counsel and the written
advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken or suffered or omitted hereunder in good faith and in reliance thereon; 

(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 Securityholders, pursuant to the provisions of this Indenture, unless such Securityholders shall have offered to the Trustee reasonable security or indemnity against the costs, expenses and liabilities that may be incurred
therein or thereby; 
 (e) the Trustee shall not be liable for any action taken 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; 
 (f) the
Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, security, or other papers or documents,
unless requested in writing so to do by the holders of not less than a majority in principal amount of the Outstanding Securities of the particular series affected thereby (determined as provided in Section 8.04); provided,
however, that if the payment within a reasonable time to the Trustee of the costs, expenses or liabilities likely to be incurred by it in the making of such investigation is, in the opinion of the Trustee, not reasonably assured to the
Trustee by the security afforded to it by the terms of this Indenture, the Trustee may require reasonable indemnity against such costs, expenses or liabilities as a condition to so proceeding. The reasonable expense of every such examination shall
be paid by the Company or, if paid by the Trustee, shall be repaid by the Company upon demand; 
 (g) the Trustee may execute
any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with
due care by it hereunder; 
 (h) the Trustee shall be under no obligation to exercise any of the rights or powers vested in it
by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities
which might be incurred by it in compliance with such request or direction; 

  
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 (i) 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 to its agents; 
 (j) the Trustee shall not be liable for any action taken, suffered, or omitted to be taken by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers
conferred upon it by this Indenture; 
 (k) anything in this Indenture notwithstanding, in no event shall the Trustee be
responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or
damage and regardless of the form of action; 
 (l) in no event shall the Trustee be responsible or liable for any failure or
delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military
disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services (it being understood that the Trustee shall use reasonable efforts which
are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances); 
 (m) the Trustee shall not be deemed to have notice of any Default or Event of Default unless written notice of such Default or Event of Default, as the case may be, has been received by a Responsible
Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture; 
 (n) the Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions
pursuant to this Indenture, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not
superseded; and 
 (o) the permissive right of the Trustee to take or refrain from taking action hereunder shall not be
construed as a duty. 
 SECTION 7.03. Trustee Not Responsible for Recitals, Validity of Securities or Application of
Proceeds Thereof. 
 (a) The recitals contained herein and in the Securities shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for the correctness of the same. 
 (b) The Trustee makes no representations
as to the validity or sufficiency of this Indenture or of the Securities. 

  
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 (c) The Trustee shall not be accountable for the use or application by the Company of any of
the Securities or of the proceeds of such Securities, or for the use or application of any moneys paid over by the Trustee in accordance with any provision of this Indenture or established pursuant to Section 2.01, or for the use or application
of any moneys received by any Paying Agent other than the Trustee. 
 SECTION 7.04. May Hold Securities.

 The Trustee or any Paying Agent or Registrar, in its individual or any other capacity, may become the owner or pledgee of
Securities with the same rights it would have if it were not Trustee, Paying Agent or Registrar. 
 SECTION 7.05. Moneys
Held in Trust. 
 Subject to the provisions of Section 11.05, all moneys received by the Trustee 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. The Trustee shall be under no liability for interest on any moneys received
by it hereunder except such as it may agree with the Company to pay thereon. 
 SECTION 7.06. Compensation and
Reimbursement. 
 (a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such
reasonable compensation as the Company, and the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties
hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee 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 its
negligence or bad faith. The Company also covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on the
part of the Trustee and arising out of or in connection with the acceptance or administration of this trust, including the costs and expenses of defending itself against any claim of liability in the premises. 

(b) The obligations of the Company under this Section to compensate and indemnify the Trustee and to pay or reimburse the Trustee for
expenses, disbursements and advances 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. 
 (c) When the Trustee incurs expenses or
renders services after an Event of Default occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law. 

  
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 (d) The provisions of this Section 7.06 shall survive the satisfaction and discharge of
the Securities, resignation or removal of the Trustee and the termination of this Indenture. 
 SECTION 7.07. Reliance
on Officers’ Certificate. 
 Except as otherwise provided in 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 or omitting to take any action 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 Officers’ Certificate 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 to be taken by it under the provisions of this Indenture upon the faith thereof. 

SECTION 7.08. Disqualification; Conflicting Interests. 

If the Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust Indenture
Act, the Trustee and the Company shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 
 SECTION 7.09. Corporate Trustee Required; Eligibility. 
 (a) There
shall at all times be a Trustee with respect to the Securities issued hereunder which shall at all times be a corporation organized and doing business under the laws of the United States of America or any State or Territory thereof or of the
District of Columbia, or a corporation or other Person permitted to act as trustee by the Commission, authorized under such laws to exercise corporate trust powers, having a combined capital and surplus of at least fifty million U.S. dollars
($50,000,000), and subject to supervision or examination by Federal, State, Territorial, or District of Columbia authority. 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.

 (b) The Company may not, nor may any Person directly or indirectly controlling, controlled by, or under common control with
the Company, serve as Trustee. 
 (c) 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 7.10. 

  
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 SECTION 7.10. Resignation and Removal; Appointment of Successor. 

(a) The Trustee or any successor hereafter appointed, may at any time resign with respect to the Securities of one or more series by
giving written notice thereof to the Company and by transmitting notice of resignation to the Securityholders of such series in the manner provided in Section 13.03(b). Upon receiving such notice of resignation, the Company shall promptly
appoint a successor trustee with respect to Securities of such series by written instrument, in duplicate, executed by order of the Board of Directors, 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 the appointment within 30 days after the giving of such notice of resignation, (1) the resigning Trustee may at the expense of the Company petition any
court of competent jurisdiction for the appointment of a successor trustee with respect to Securities of such series or (2) any Securityholder of that series who has been a bona fide holder of a Security or Securities for at least
six months may on behalf of himself and all others similarly situated, petition any such court for the appointment of a successor trustee, upon which such court may after such notice, if any, as it may deem proper and prescribe, appoint a successor
trustee. 
 (b) In case at any time any one of the following shall occur: 

(1) the Trustee shall fail to comply with the provisions of Section 7.08 after written request therefor by the
Company or by any Securityholder who has been a bona fide holder of a Security or Securities for at least six months; or 
 (2) the Trustee shall cease to be eligible in accordance with the provisions of Section 7.09 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, or shall be adjudged a bankrupt or insolvent, or commence a
voluntary bankruptcy proceeding, or a receiver of the Trustee or of its property shall be appointed or consented to, or any public officer shall take charge or control of the Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, 
 then, in any such case, (i) the Company may remove the Trustee with respect to all Securities and appoint a
successor trustee by written instrument, in duplicate, executed by order of the Board of Directors, one copy of which instrument shall be delivered to the Trustee so removed and one copy to the successor trustee, or, unless the Trustee’s duty
to resign is stayed as provided herein or (ii) any Securityholder who has been a bona fide holder of a Security or Securities for at least six months may, on behalf of that holder and all others similarly situated, petition any
court of competent jurisdiction for the removal of the Trustee and the appointment of a successor trustee, upon which such court may after such notice, if any, as it may deem proper and prescribe, remove the Trustee and appoint a successor trustee.

 (c) If the Trustee for the Securities of any series shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of the Trustee for the Securities of any series for any cause, the Company, by written instrument executed by order of the Board of Directors, shall promptly appoint a successor Trustee with respect to the Securities of
such series and shall comply with the applicable requirements of Section 7.11. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of such
series shall have not been appointed by the Company pursuant to this Section, then holders of a majority in aggregate principal amount 

  
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of the Securities of any series at the time Outstanding may appoint a successor Trustee for such series by notifying the Company and the retiring Trustee. If no successor Trustee for the
Securities of such series shall have been so appointed by the Company or the Holders and shall have accepted appointment in the manner required by Section 7.11, and if such Trustee to be replaced is still incapable of acting, any Securityholder
who has been a bona fide holder of a Security or Securities for at least six months, on behalf of that holder and all others similarly situated, or the retiring Trustee, at the Company’s expense, may petition any court of
competent jurisdiction for the appointment of a successor trustee, upon which such court may after such notice, if any, as it may deem proper and prescribe, appoint a successor trustee. 

(d) The holders of a majority in aggregate principal amount of the Securities of any series at the time Outstanding may at any time
remove the Trustee with respect to such series by so notifying the Trustee and the Company and may appoint a successor Trustee for such series with the consent of the Company. 
 (e) Any resignation or removal of the Trustee and appointment of a successor trustee with respect to the Securities of a series pursuant to any of the provisions of this Section shall become effective
upon acceptance of appointment by the successor trustee as provided in Section 7.11. 
 (f) Any successor trustee appointed
pursuant to this Section may be appointed with respect to the Securities of one or more series or all of such series, and at any time there shall be only one Trustee with respect to the Securities of any particular series. 

SECTION 7.11. Acceptance of Appointment By Successor. 

(a) In case of the appointment hereunder of a successor trustee with respect to all Securities, every such successor trustee so appointed
shall execute, acknowledge and deliver to the Company and to the retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor trustee, without
any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor trustee, such retiring Trustee shall, upon payment of its charges,
execute and deliver an instrument transferring to such successor trustee all the rights, powers, and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor trustee all property and money held by such retiring
Trustee hereunder. 
 (b) In case of the appointment hereunder of a successor trustee with respect to the Securities of one or
more (but not all) series, the Company, the retiring Trustee and each successor trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor trustee shall accept such
appointment and which shall: 
 (1) contain such provisions as shall be necessary or desirable to transfer and
confirm to, and to vest in, each successor trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates; 

  
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 (2) contain such provisions as shall be deemed necessary or desirable to
confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee; and

 (3) 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, that each such Trustee shall be
trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee and that no Trustee shall be responsible for any act or failure to act on the part of any other Trustee hereunder.

 Upon the execution and delivery of such supplemental indenture, the resignation or removal of the retiring Trustee shall
become effective to the extent provided therein, such retiring Trustee shall with respect to the Securities of that or those series to which the appointment of such successor trustee relates 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, and each such successor trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and
duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor trustee relates; but, on request of the Company or any successor trustee, such retiring Trustee shall 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 Securities of that or those series to which the appointment
of such successor trustee relates. 
 (c) Upon request of any such successor trustee, the Company shall 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 (a) or (b) of this Section, as the case may be. 

(d) No successor trustee shall accept its appointment unless at the time of such acceptance such successor trustee shall be qualified and
eligible under this Article. 
 (e) Upon acceptance of appointment by a successor trustee as provided in this Section, the
Company shall transmit notice of the succession of such trustee hereunder to the Securityholders in the manner provided in Section 13.03(b). If the Company fails to transmit such notice within ten days after acceptance of appointment by the
successor trustee, the successor trustee shall cause such notice to be transmitted at the expense of the Company. 

  
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 SECTION 7.12. Merger, Conversion, Consolidation or Succession to Business.

 Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided that such
corporation shall be qualified under the provisions of Section 7.08 and eligible under the provisions of Section 7.09, 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. 
 SECTION 7.13. Preferential Collection of Claims Against the Company. 

The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in
Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein. 

ARTICLE VIII 
 CONCERNING THE SECURITYHOLDERS 
 SECTION 8.01. Evidence of Action
by Securityholders. 
 (a) Whenever in this Indenture it is provided that the holders of a majority or specified percentage
in aggregate principal amount of the Securities of a particular series may take any action (including the making of any demand or request, the giving of any notice, consent or waiver or the taking of any other action), the fact that at the time of
taking any such action the holders of such majority or specified percentage of that series have joined therein may be evidenced by any instrument or any number of instruments of similar tenor executed by such holders of the Securities of that series
in Person or by agent or proxy appointed in writing. 
 (b) If the Company shall solicit from the Securityholders of any series
any request, demand, authorization, direction, notice, consent, waiver or other action, the Company may, at its option, as evidenced by an Officers’ Certificate, fix in advance a record date for such series for the determination of
Securityholders entitled to give such request, demand, authorization, direction, notice, consent, waiver or other action, but the Company shall have no obligation to do so. If such a record date is fixed, such request, demand, authorization,
direction, notice, consent, waiver or other action may be given before or after the record date, but only the Securityholders of record at the close of business on the record date shall be deemed to be Securityholders for the purposes of determining
whether Securityholders of the requisite proportion of Outstanding Securities of that series have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other action, and for that purpose the
Outstanding Securities of that series shall be computed as of the record date; provided, however, that no such authorization, agreement or consent by such Securityholders on the record date shall be deemed effective unless it shall
become effective pursuant to the provisions of this Indenture not later than six months after the record date. 

  
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 SECTION 8.02. Proof of Execution by Securityholders. 

Subject to the provisions of Section 7.01, proof of the execution of any instrument by a Securityholder (such proof will not require
notarization) or his agent or proxy and proof of the holding by any Person of any of the Securities shall be sufficient if made in the following manner: 
 (a) The fact and date of the execution by any such Person of any instrument may be proved in any reasonable manner acceptable to the Trustee. 

(b) The ownership of Securities shall be proved by the Security Register of such Securities or by a certificate of the Registrar thereof.

 (c) The Trustee may require such additional proof of any matter referred to in this Section as it shall deem necessary.

 SECTION 8.03. Who May be Deemed Owners. 
 Prior to the due presentment for registration of transfer of any Security, the Company, the Trustee, any Paying Agent and any Registrar may deem and treat the Person in whose name such Security shall be
registered upon the books of the Company as the absolute owner of such Security (whether or not such Security shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Registrar) for the purpose of
receiving payment of or on account of the principal of, premium, if any, and (subject to Section 2.03) interest on such Security and for all other purposes; and neither the Company nor the Trustee nor any Paying Agent nor any Registrar shall be
affected by any notice to the contrary. 
 So long as the Depositary, or its nominee, is the registered owner of a Global
Security, the Depositary or its nominee, as the case may be, will be considered the sole owner or holder of the securities represented by the Global Security for all purposes under this Indenture. Ownership of beneficial interests in a Global
Security will be shown on, and the transfer of ownership interests will be effected only through, records maintained by the Depositary, with respect to interests of Participants, and on the records of Participants, with respect to interests of
persons holding through Participants. 
 SECTION 8.04. Certain Securities Owned by Company Disregarded. 

In determining whether the holders of the requisite aggregate principal amount of Securities of a particular series have concurred in any
direction, consent of waiver under this Indenture, the Securities of that series that are owned by the Company or any other obligor on the Securities of that series or by any Person directly or indirectly controlling or controlled by or under common
control with the Company or any other obligor on the Securities of that series 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 direction, consent or waiver, only Securities of such series that the Trustee actually knows are so owned shall be so disregarded. The Securities so owned that 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 so to act with respect to 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 or any such other obligor. In 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. 

  
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 SECTION 8.05. Actions Binding on Future Securityholders. 

At any time prior to (but not after) the evidencing to the Trustee, as provided in Section 8.01, of the taking of any action by the
holders of the majority or percentage in aggregate principal amount of the Securities of a particular series specified in this Indenture in connection with such action, any holder of a Security of that series that 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, 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 in exchange therefor, on registration of transfer
thereof or in place thereof, irrespective of whether or not any notation in regard thereto is made upon such Security. Any action taken by the holders of the majority or percentage in aggregate principal amount of the Securities of a particular
series specified in this Indenture in connection with such action shall be conclusively binding upon the Company, the Trustee and the holders of all the Securities of that series. 

ARTICLE IX 

SUPPLEMENTAL INDENTURES 
 SECTION 9.01. Consent, Waiver or Amendment Without the Consent of Securityholders. 
 (a) The Company and the Trustee may amend, waive, supplement or otherwise modify this Indenture, one or more series of the Securities, individually or collectively, or any other agreement or instrument
entered into in connection with this Indenture without notice to or consent of any Securityholder, for one or more of the following purposes: 
 (1) to cure any ambiguity, mistake or inconsistency in the Indenture; or to correct or supplement any provision contained herein or in any supplemental indenture which may be defective or inconsistent
with any other provision contained herein or in any supplemental indenture; or to make such other provisions in regard to matters or questions arising under this Indenture or under any supplemental indenture as the Board of Directors may deem
necessary or desirable and which shall not materially and adversely affect the interests of the Holders of the Securities; 
 (2) evidence the succession of another corporation to the Company, or successive successions and the assumption by the successor corporation of the covenants, agreements and obligations of the Company
pursuant to Article X; 
 (3) to provide for uncertificated Securities in addition to or in place of certificated
Securities; 
 (4) to add to the covenants of the Company for the benefit of the holders of all or any series of
Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or power herein conferred
upon the Company; 

  
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 (5) to add to, delete from, or revise the conditions, limitations, and
restrictions on the authorized amount, terms, or purposes of issue, authentication, and delivery of Securities, as herein set forth; 
 (6) to make any change that does not adversely affect the rights of any Securityholder in any material respect; 
 (7) to provide for the issuance of and establish the form and terms and conditions of the Securities of any series as provided in Section 2.01, to establish the form of any certifications required to
be furnished pursuant to the terms of this Indenture or any series of Securities, or to add to the rights of the holders of any series of Securities; 
 (8) to add or change CUSIP numbers or other Identifying Numbers of the Securities of any series upon notice to holders of such Securities; 

(9) to remove any legends placed on a Security in accordance with this Indenture; 

(10) to secure the Securities pursuant to any applicable covenants under the Securities of any series; 

(11) to add any additional Events of Default; 

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

(13) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the
Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than the one Trustee, pursuant to the requirements
of Section 7.11. 
 (b) The Trustee is hereby authorized to join with the Company in the execution of any such supplemental
indenture, and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee shall not be obligated to enter into any such supplemental indenture that affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise. 
 (c) Any supplemental indenture authorized by the provisions of this Section may
be executed by the Company and the Trustee without the consent of the holders of any of the Securities at the time Outstanding, notwithstanding any of the provisions of Section 9.02. 

  
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 SECTION 9.02. Supplemental Indentures With Consent of Securityholders.

 (a) With the consent (evidenced as provided in Section 8.01) of the holders of not less than a majority in aggregate
principal amount of the Securities of each series affected by such supplemental indenture or indentures at the time Outstanding, the Company, when authorized by resolution of its Board of Directors, and the Trustee may from time to time and at any
time enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any
manner not covered by Section 9.01 the rights of the holders of the Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the holders of each Security
then Outstanding and affected thereby: 
 (1) extend the fixed Maturity of any Securities of any series;

 (2) reduce the principal amount thereof; 

(3) reduce the rate or extend the time of payment of interest thereon; 

(4) reduce any premium payable upon the redemption thereof or; 

(5) reduce the aforesaid percentage of Securities, the holders of which are required to consent to any such supplemental
indenture; 
 (6) modify the right of any holder to receive or sue for payment of principal, premium or interest
that would be due at the Stated Maturity therefor; or 
 (7) expressly subordinate the obligations of any series
of the Securities to other indebtedness of the Company. 
 (b) A supplemental indenture that changes or eliminates any covenant
or other provision of this Indenture that has expressly been included solely for the benefit of one or more particular series of the Securities, or that modifies the rights of the Holders of the Securities of such series with respect to such
covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of the Securities of any other series. 
 It shall not be necessary for the consent of the Securityholders of any series affected thereby 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. 
 SECTION 9.03. Effect of Supplemental Indentures.

 Upon the execution of any supplemental indenture pursuant to the provisions of this Article or of Section 10.01, this
Indenture shall, with respect to such series, 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
and the holders of Securities of the series affected thereby 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. 

  
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 SECTION 9.04. Securities Affected by Supplemental Indentures. 

Securities of any series affected by a supplemental indenture, authenticated and delivered after the execution of such supplemental
indenture pursuant to the provisions of this Article or of Section 10.01 may bear a notation in form approved by the Company, provided that such form meets the requirements of any exchange upon which such series may be listed, as to any
matter provided for in such supplemental indenture. 
 If the Company shall so determine, new Securities of that series so
modified as to conform, in the opinion of the Board of Directors of the Company, to any modification of this Indenture contained in any such supplemental indenture may be prepared by the Company, authenticated by the Trustee and delivered in
exchange for the Securities of that series then Outstanding. 
 SECTION 9.05. Conformity with Trust Indenture Act.

 Every supplemental indenture executed pursuant to this Section shall conform to the requirements of the Trust Indenture Act
as then in effect. 
 SECTION 9.06. Execution of Supplemental Indentures. 

(a) Upon the request of the Company, accompanied by its Board Resolutions authorizing the execution of any such supplemental indenture,
and upon the filing with the Trustee of evidence of the consent of Securityholders, if required to consent thereto as aforesaid, the Trustee shall join with the Company in the execution of such supplemental 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. 

(b) In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article IX or the
modifications thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and, subject to the provisions of Section 7.01, shall be fully protected in relying upon, in addition to the documents required by
Section 13.06, an Opinion of Counsel and an Officers’ Certificate, each stating that the execution of such supplemental indenture is authorized or permitted by this Indenture and that all conditions precedent in this Indenture to the
execution of such supplemental indenture, if any, have been complied with. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this
Indenture or otherwise. 
 (c) Promptly after the execution by the Company and the Trustee of any supplemental indenture
pursuant to the provisions of this Section, the Company shall transmit in a manner consistent with Section 13.03(b), a notice, setting forth in general terms the substance of such supplemental indenture, to the Securityholders of all series
affected thereby. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture. 

  
 45 

 ARTICLE X 
 SUCCESSOR CORPORATION 
 SECTION 10.01. Company May Consolidate,
Etc. 
 Nothing contained in this Indenture or in any of the Securities shall prevent any consolidation or merger of the
Company with or into any other corporation or corporations (whether or not Affiliated with the Company) or successive consolidations or mergers in which the Company or its successor or successors shall be a party or parties, or shall prevent any
sale, conveyance, transfer or other disposition of the property of the Company or its successor or successors as an entirety, or substantially as an entirety, to any other corporation (whether or not Affiliated with the Company or its successor or
successors) authorized to acquire and operate the same; provided, however, the Company hereby covenants and agrees that, upon any such consolidation, merger, sale, conveyance, transfer or other disposition, the due and punctual payment
of the principal of (premium, if any) and interest on all of the Securities of all series in accordance with the terms of such series, according to their tenor and the due and punctual performance and observance of all the covenants and conditions
of this Indenture with respect to each series or established with respect to such series pursuant to Section 2.01 to be kept or performed by the Company shall be expressly assumed, by supplemental indenture (which shall conform to the
provisions of the Trust Indenture Act, as then in effect) satisfactory in form to the Trustee executed and delivered to the Trustee by the entity formed by such consolidation, or into which the Company shall have been merged, or by the entity which
shall have acquired such property. 
 SECTION 10.02. Successor Corporation Substituted. 

(a) In case of any such consolidation, merger, sale, conveyance, transfer or other disposition and upon the assumption by the successor
corporation, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to the Trustee, of the due and punctual payment of the principal of, premium, if any, and interest on all of the Securities of all series
Outstanding and the due and punctual performance of all of the covenants and conditions of this Indenture or established with respect to each series of the Securities pursuant to Section 2.01 to be performed by the Company with respect to each
series, such successor corporation shall succeed to and be substituted for the Company with the same effect as if it had been named as the Company herein, and thereupon the predecessor corporation shall be relieved of all obligations and covenants
under this Indenture and the Securities. 
 (b) In case of any such consolidation, merger, sale, conveyance, transfer or other
disposition such changes in phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 

  
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 (c) Nothing contained in this Indenture or in any of the Securities shall prevent the
Company from merging into itself or acquiring by purchase or otherwise all or any part of the property of any other Person (whether or not Affiliated with the Company). 
 SECTION 10.03. Evidence of Consolidation, Etc. to Trustee. 
 The
Trustee, subject to the provisions of Section 7.01, shall be provided an Officers’ Certificate and an Opinion of Counsel as conclusive evidence that any such consolidation, merger, sale, conveyance, transfer or other disposition, any such
assumption, and any supplemental indenture relating thereto comply with the provisions of this Article and that all conditions precedent provided for in this Indenture relating to such transaction have been complied with. 

ARTICLE XI 

SATISFACTION AND DISCHARGE AND DEFEASANCE 
 SECTION 11.01. Satisfaction and Discharge of Indenture. 
 (a) If at
any time: 
 (1) the Company shall have delivered to the Trustee for cancellation all Securities of a series
theretofore authenticated (other than any Securities that shall have been destroyed, lost or stolen and that shall have been replaced or paid as provided in Section 2.07 and Securities for whose payment money or Governmental Obligations have
theretofore been deposited in trust or segregated and held in trust by the Company and thereupon repaid to the Company or discharged from such trust, as provided in Section 11.05); or 

(2) all such Securities of a particular series not theretofore delivered to the Trustee for cancellation (i) shall
have become due and payable, are by their terms to become due and payable within one year, or are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption; and (ii) the
Company shall (A) deposit or cause to be deposited with the Trustee as trust funds the entire amount in moneys or Governmental Obligations sufficient or a combination thereof, sufficient in the opinion of a nationally recognized firm of
independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay at Maturity or upon redemption all Securities of that series not theretofore delivered to the Trustee for cancellation, including principal
(and premium, if any) and interest due or to become due to such date of Maturity or date fixed for redemption, as the case may be; (B) pay or cause to be paid all other sums payable hereunder with respect to such series by the Company; and
(C) deliver an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture with respect to such series have been complied
with, 

  
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 then this Indenture shall thereupon cease to be of further effect with respect to such
series, and the Trustee, on demand of the Company and at the cost and expense of the Company, shall execute proper instruments acknowledging satisfaction of and discharging this Indenture with respect to such series. 

(b) Notwithstanding the foregoing, the provisions of Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03 and 7.10 shall survive until the date of
Maturity or Redemption Date, as the case may be, and Sections 7.06 and 11.05 shall survive to such date and thereafter. 

SECTION 11.02. Defeasance and Covenant Defeasance. 
 In addition to discharge of this Indenture pursuant to Section 11.01, if this Section is specified, as contemplated by Section 2.01, to be applicable to Securities of any series, the Company may
at its option elect at any time either to effect: (i) a defeasance and discharge of the Securities of any particular series under Section 11.02(a) below; or (ii) a covenant defeasance of the Securities of any particular series under
Section 11.02(b) below; in each case upon compliance with the applicable conditions set forth in Section 11.02(b). 

(a) Upon election by the Company to effect a defeasance and discharge of the Securities of any series under this Section 11.02(a)
and satisfaction of the conditions precedent set forth in Section 11.02(b) with respect to the Securities of such series, the Company shall be deemed to have paid and discharged the Securities of such series and the Company shall be deemed to
have satisfied all its other obligations under such Securities and all its other obligations relating to such Securities under the Indenture, except for Sections 2.03, 2.05, 2.07, 4.01, 4.02, 4.03, 7.06, 7.10 and 11.05 of the Indenture that shall
survive until the Securities of such series mature and are paid. Thereafter, Sections 7.06 and 11.05 of this Indenture shall survive with respect to the Securities of such series. 

(b) Upon election by the Company to effect a covenant defeasance with respect to the Securities of any series under this Section
11.02(b), the Company shall be released from its obligations under any covenants made applicable to the Securities of such series which are subject to defeasance under the terms established with respect to such series pursuant to Section 2.01
hereof on or after the date the conditions precedent set forth in Section 11.02(b) are satisfied (hereinafter, “covenant defeasance”). For this purpose, such covenant defeasance means that the Company may omit to comply with
and shall have no liability in respect of any term, condition or limitation set forth in any covenant applicable to such series which is subject to defeasance under the terms established with respect to such series pursuant to Section 2.01
hereof pertaining to such series. 
 (c) The following shall be conditions precedent to the application of Sections 11.02(a) and
11.02(b): 
 (1) with respect to Section 11.02(a) or Section 11.02(b), the Company shall have deposited
or cause to be deposited irrevocably with the Trustee, as trust funds in trust for the purpose of making the following payments and specifically pledged as security for and dedicated solely to the benefit of the holders of the

  
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Securities to be defeased, cash in U.S. dollars (or such other money or currencies as shall then be legal tender in the United States) and/or Governmental Obligations, which through the scheduled
payment of interest and principal in respect thereof, in accordance with their terms, will be provided (and without reinvestment and assuming no tax liability will be imposed on the Trustee), not later than one day before the due date of any payment
of money, an amount in cash, sufficient, in the opinion of a nationally recognized firm of independent certified public accountants expressed in a written certification thereof delivered to the Trustee, to discharge principal (including premium, if
any) and interest on such Securities on the Stated Maturity of such principal or installment of principal or interest on the dates on which such installments of principal and interest are due, in accordance with the terms of this Indenture or the
terms otherwise established pursuant to Section 2.01 with respect to such Securities, and such Securities; 

(2) in the case of defeasance under Section 11.02(a), the Company shall have delivered to the Trustee an Opinion of
Counsel based on the fact that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling (which ruling may be, but need not be, issued with respect to the Company) or (B) 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 such opinion shall confirm that, the holders of the Outstanding Securities of such series will not recognize
income, gain or loss for United States federal income tax purposes as a result of such deposit, defeasance and discharge and will be subject to United States federal income tax on the same amount and in the same manner and at the same times as would
have been the case if such deposit, defeasance and discharge had not occurred; 
 (3) in the case of covenant
defeasance under Section 11.02(b), the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that, and such opinion shall confirm that, the holders of the Outstanding Securities of such series will not recognize income,
gain or loss for United States federal income tax purposes as a result of such deposit and covenant defeasance and will be subject to United States federal income tax on the same amount and in the same manner and at the same times as would have been
the case if such deposit and covenant defeasance had not occurred; 

  
 49 

 (4) such deposit and defeasance or covenant defeasance will 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) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
all conditions precedent provided for relating to either the defeasance and discharge under (a) or the covenant defeasance under (b) (as the case may be) have been complied with; 

(6) such defeasance and discharge or covenant defeasance will not cause the Trustee 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 result in the trust arising from such deposit to constitute an investment company under the Investment Company Act of 1940, as
amended. or such trust shall be qualified under such act or exempt from regulation thereunder; and 
 (7) the
Company has paid or caused to be paid all other sums payable with respect to the Securities to be defeased. 

SECTION 11.03. Deposited Moneys to be Held in Trust. 

All moneys or Governmental Obligations deposited with the Trustee pursuant to Sections 11.01 or 11.02 shall be held in trust and shall be
available for payment as due, either directly or through any Paying Agent (including the Company acting as its own Paying Agent), to the holders of the particular series of Securities for the payment or redemption of which such moneys or
Governmental Obligations have been deposited with the Trustee. 
 SECTION 11.04. Payment of Moneys Held by Paying
Agents. 
 In connection with the satisfaction and discharge of this Indenture, all moneys or Governmental Obligations then
held by any Paying Agent under the provisions of this Indenture shall, upon demand of the Company, be paid to the Trustee and thereupon such Paying Agent shall be released from all further liability with respect to such moneys or Governmental
Obligations. 
 SECTION 11.05. Repayment to Company. 

Any moneys or Governmental Obligations deposited with any Paying Agent or the Trustee, or then held by the Company, in trust for payment
of principal of or premium or interest on the Securities of a particular series that are not applied but remain unclaimed by the holders of such Securities for at least two years after the date upon which the principal of (and premium, if any) or
interest on such Securities shall have respectively become due and payable, shall be repaid to the Company on May 31 of each year or (if then held by the Company) shall be discharged from such trust; and thereupon the Paying Agent and the
Trustee shall be released from all further liability with respect to such moneys or Governmental Obligations, and the holder of any of the Securities entitled to receive such payment shall thereafter, as an unsecured general creditor, look only to
the Company for the payment thereof. 

  
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 SECTION 11.06. Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with either Section 11.01 or Section 11.02 by
reason of any order or judgment of any court or governmental authority enjoining, restraining, or otherwise prohibiting such application, then the Company’s obligations under the Securities to be defeased shall be revived and reinstated as
though no deposit had occurred pursuant to this Article XI until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 11.01 or Section 11.02; provided, however, that if the
Company makes any payment of principal of (and premium, if any) or interest on any such Securities following the reinstatement of its obligations, the Company shall be subrogated to the rights of the holders of such Securities to receive such
payment from the money held by the Trustee or Paying Agent. 
 SECTION 11.07. Other Coin or Currency Units.

 Notwithstanding the foregoing provisions of this Article, if the Securities of any series are payable in a coin or currency
or currency unit other than such coin or currency of the United States of America as at the time of payment is legal tender for payment of public or private debts, the coin or currency or currency unit or the nature of the government obligations to
be deposited with the Trustee under the foregoing provisions of this Article shall be set forth in the Officers’ Certificate or established in the supplemental indenture under which the Securities of such series are issued. 

ARTICLE XII 
 IMMUNITY OF INCORPORATORS, STOCKHOLDERS, 
 OFFICERS AND DIRECTORS

 SECTION 12.01. No Recourse. 
 No recourse under or upon any obligation, covenant or agreement of this Indenture, or of any Security, or for any claim based thereon or otherwise in respect thereof, shall be had against any
incorporator, stockholder, officer or director, past, present or future as such, of the Company or of any predecessor or successor corporation, either directly or through the Company or any such predecessor or successor corporation, whether by
virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that this Indenture and the obligations issued hereunder are solely corporate obligations, and that no
such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or of any predecessor or successor corporation, or any of them, because of the creation
of the indebtedness hereby authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom; and that any and all such personal liability of every name and
nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness hereby
authorized, or under or by reason of the obligations, covenants or agreements contained in this Indenture or in any of the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the
execution of this Indenture and the issuance of such Securities. 

  
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 ARTICLE XIII 
 MISCELLANEOUS PROVISIONS 
 SECTION 13.01. Effect on Successors and
Assigns. 
 All the covenants, stipulations, promises and agreements in this Indenture contained by or on behalf of the
Company shall bind their respective successors and assigns, whether so expressed or not. 
 SECTION 13.02. Actions by
Successor. 
 Any act or proceeding by any provision of this Indenture authorized or required to be done or performed by any
board, committee or officer of the Company shall and may be done and performed with like force and effect by the corresponding board, committee or officer of any corporation that shall at the time be the lawful sole successor of the Company.

 SECTION 13.03. Notices. 
 (a) Any request, demand, authorization, direction, notice, consent or waiver or other documents provided or permitted by this Indenture to be made upon, given or furnished to, or filed with: 

(1) the Trustee for a series of the Securities by any Holder or by the Company shall be sufficient for every purpose
hereunder (unless otherwise herein expressly provided) if made, given, furnished or filed in writing (which may be via facsimile) to or with the Trustee at its Corporate Trust Office, or if sent by facsimile transmission, to a facsimile number
provided by the Trustee, with a copy mailed, first class postage prepaid to the Trustee addressed to it as provided above; or 
 (2) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if furnished in writing (which may be via facsimile) and
mailed, first class postage prepaid, addressed in the case of the Company to it, to the attention of the Chief Financial Officer, at International Flavors & Fragrances Inc., 521 West 57th Street, New York, New York 10019-2960 (or at any
other address previously furnished in writing to such Trustee by the Company), or if sent by facsimile transmission, to a facsimile number provided to the Trustee by the Company, with a copy mailed, first class postage prepaid, to the Company
addressed to it as provided above. 

  
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 (b) Where this Indenture provides for notice to Holders of any event, such notice shall be
sufficiently given (unless otherwise herein expressly provided) to Holders of the Securities if in writing and mailed, first class postage prepaid, to each Holder affected by such event, at his or her address as it appears in the Security Register,
not later than the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders of the Securities 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 the Securities given as provided herein. Any notice mailed in the manner prescribed by this Indenture shall be
conclusively deemed to have been given whether or not received by any particular Holder. 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 the
Securities by mail, then such notification as shall be made with the reasonable approval of the Trustee for such Securities shall 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 shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee for
such Securities, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 SECTION 13.04. Governing Law. 
 This Indenture and each Security shall
be governed by, and construed in accordance with, the laws of the State of New York. 
 SECTION 13.05. Treatment of
Securities as Debt. 
 It is intended that the Securities will be treated as indebtedness and not as equity for federal
income tax purposes. The provisions of this Indenture shall be interpreted to further this intention. 
 SECTION 13.06.
Compliance Certificates and Opinions. 
 (a) Upon any application or demand by the Company to the Trustee for any series
of the Securities to take any action under any of the provisions of this Indenture or any supplement hereto, the Company, shall furnish to such Trustee an Officers’ Certificate stating that all conditions precedent provided for in this
Indenture relating to the proposed action have been complied with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent have been complied with, except that in the case of any such application or 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. 

(b) Each certificate or opinion provided for in this Indenture and delivered to the Trustee with respect to compliance with a condition
or covenant in this Indenture shall include: 
 (1) a statement that the Person making such certificate or
opinion has read such covenant or condition; 

  
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 (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 has made such examination or investigation as is necessary to enable him 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 13.07. 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 an Opinion of Counsel, or a certificate or representations by, counsel, unless such
officer knows, or in the exercise of reasonable care should know, that the opinion, certificate or representations with respect to matters upon which his certificate or opinion is based are erroneous. 

Any such Opinion of Counsel or certificate or representations 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, they may, but need not, be consolidated and form one instrument. 

SECTION 13.08. Payments on Business Days. 
 Except as otherwise provided under the terms of the Security established pursuant to Section 2.01, in any case where the date of Maturity of interest or principal of any Security or the date of
redemption of any Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of Maturity or
redemption, and no interest shall accrue for the period after such nominal date. 

  
 54 

 SECTION 13.09. Conflict with Trust Indenture Act. 

Except as otherwise expressly provided herein, the Trust Indenture Act shall apply as a matter of contract to this Indenture for purposes
of interpretation, construction and defining the rights and obligations hereunder, and this Indenture, the Company, and the Trustee shall be deemed for all purposes hereof to be subject to and governed by the Trust Indenture Act. Except as otherwise
provided herein, if and to the extent that any provision of this Indenture limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall control. 

SECTION 13.10. Effect of Headings and Table of Contents. 

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

 SECTION 13.11. 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 13.12. Separability. 
 In case any one or more of the provisions contained in this Indenture or in the Securities of any series shall for any reason be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provisions of this Indenture or of such Securities, but this Indenture and such Securities shall be construed as if such invalid or illegal or unenforceable provision had never
been contained herein or therein. 
 SECTION 13.13. Assignment. 

The Company will have the right at all times to assign any of its rights or obligations under this Indenture to a direct or indirect
wholly-owned Subsidiary, provided that, in the event of any such assignment, the Company, will remain liable for all such obligations. Subject to the foregoing, the Indenture is binding upon and inures to the benefit of the parties thereto
and their respective successors and assigns. This Indenture may not otherwise be assigned by the parties thereto. 

SECTION 13.14. WAIVER OF JURY BY TRIAL. 
 EACH OF THE COMPANY, THE TRUSTEE AND THE HOLDERS, BY THEIR ACCEPTANCE OF THE SECURITIES, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING AS AMONG THE COMPANY AND THE TRUSTEE ONLY ARISING OUT OF OR RELATING TO THIS INDENTURE OR THE SECURITIES. 

  
 55 

 SECTION 13.15. Patriot Act. 

In order to comply with the laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions,
including, without limitation, those relating to the funding of terrorist activities and money laundering, including Section 326 of the USA PATRIOT Act of the United States (“Applicable Law”), the Trustee is required to obtain,
verify, record and update certain information relating to individuals and entities which maintain a business relationship with the Trustee. Accordingly, the Company agrees to provide to the Trustee, upon its request from time to time such
identifying information and documentation as may be available for such party in order to enable the Trustee to comply with Applicable Law. 
 [Signatures on following page] 

  
 56 

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

			
	INTERNATIONAL FLAVORS & FRAGRANCES INC.
		
	By:	 	 /s/ Anne E. Chwat

		 	Name: Anne E. Chwat
		 	 Title: Executive Vice President, General
           Counsel and Corporate Secretary

	
	U.S. BANK NATIONAL ASSOCIATION as Trustee
		
	By:	 	 /s/ Beverly A. Freeney

		 	Name: Beverly A. Freeney
		 	Title: Vice President

 Exhibit A 
 [Insert Global Security legend, if applicable, pursuant to Section 2.11(a) of the Indenture] 
 International Flavors & Fragrances Inc. 
 % Senior Securities due

  

			
	No.             	  	CUSIP NO.        
		  	ISIN NO.         
		
		  	$        
		  	 [as revised by “Exchanges of Interests in

the Global Security,” attached hereto]1

 International Flavors & Fragrances Inc., a corporation duly organized and existing under the
laws of the State of New York (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
                    , or registered assigns, the principal sum of          Dollars[, or such greater or
lesser amount set forth on “Exchanges of Interests in the Global Security,” attached hereto,] on                      and to pay interest
thereon from                     or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in
arrears on              and                      in each year, commencing
                    , at the rate of     % per annum, until the principal hereof is paid or made available for payment;
provided that any principal and any such installment of interest that is overdue shall bear interest at the rate of     % per annum (to the extent that payment of such interest shall be legally enforceable) from the dates
such amounts are due until they are paid or made available for payment. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 
 The interest so payable, and punctually paid or duly provided for (except for Defaulted Interest), on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this
Security (or one or more predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the
                     or (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date even if the Securities are
cancelled, repurchased or redeemed after the Regular Record Date and on or before the Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date
and may either be paid to the Person in whose name this Security (or one or more predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Securities not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Securities may
be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 
  

 

	1 	Include this provision if this Security is a Global Security. 

  
 Exhibit A-1

 [Payment of the principal of (and premium, if any) and interest on this Security will be
made at the office or agency of the Company maintained for that purpose in     , in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts;
provided, however, that payments of interest will be made by wire transfer if a Securityholder of at least $1,000,000 in principal amount of the Securities has given wire transfer instructions to the Trustee at least 15 Business Days
prior to the applicable Interest Payment Date.]2

 [Payments in respect of the Securities (including principal, premium, if any, and interest) will be made by the transfer of
immediately available funds to the accounts specified by the Depositary.]3 
 Reference is hereby made to the further provisions of this Security set forth
on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

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

 

	2 	Include this provision if this Security is not a Global Security. 

	3 	Include this provision if this Security is a Global Security. 

  
 Exhibit A-2

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: 
  

			
	INTERNATIONAL FLAVORS & FRAGRANCES INC.
		
	By:	 	  

		 	Name:
		 	Title:

 Trustee’s Certificate of Authentication 

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

Dated: 
 U.S. BANK NATIONAL ASSOCIATION as
Trustee 
  

			
	By:	 	  

		 	Authorized Signatory

  
 Exhibit A-3

 (Form of Reverse of Security) 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued
under an Indenture, dated as of [•], 2016 (herein called the “Indenture,” which term shall have the meaning assigned to it in such instrument), between the Company and U.S. Bank National Association, as trustee (herein called
the “Trustee,” which term includes any successor trustee under the Indenture). This Security is one of the series designated on the face hereof, initially limited in aggregate principal amount to
$            . Reference is hereby made to the Indenture and all indentures supplemental thereto or Officer’s Certificates for a statement of the respective rights, limitations of
rights, duties and immunities thereunder of the Company, the Trustee and the Securityholders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

In the event of redemption or repurchase of this Security in part only, a new Security or Securities of like tenor for the unredeemed
portion hereof will be issued in the name of the Securityholder hereof upon the cancellation hereof. 
 The Indenture contains
provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case, upon compliance with certain conditions set forth in the Indenture.

 If an Event of Default with respect to the Securities shall occur and be continuing, the principal of the Securities may be
declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification or waiver of the rights and obligations of the Company and the rights of the Securityholders of the Securities to be affected under the Indenture at any time by the Company
and the Trustee with the consent of the Securityholders of a majority in aggregate principal amount of the Securities at the time Outstanding to be affected. The Indenture also contains provisions permitting the Holders of a majority in aggregate
principal amount of the Securities at the time Outstanding, on behalf of the Securityholders of all of the Securities, to waive compliance with certain provisions of the Indenture and certain past Defaults (other than with respect to nonpayment or
in respect of a provision that cannot be amended without the written consent of each Securityholder affected) under the Indenture and their consequences. Any such consent or waiver by the Securityholder of this Security shall be conclusive and
binding upon such Securityholder and upon all future Securityholders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Securityholder of this Security
shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such 

  
 Exhibit A-4

 
Securityholder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities, the Securityholders of not less than 25% in aggregate
principal amount of the Securities at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee satisfactory indemnity, and the Trustee shall
not have received from the Securityholders of a majority in aggregate principal amount of the Securities at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after
receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Securityholder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after
the respective due dates expressed herein. 
 No reference herein to the Indenture and no provision of this Security or of the
Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed.

 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is
registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Registrar duly executed by, the Securityholder hereof or its attorney duly authorized in writing, and thereupon one or more new Securities of like
tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The Securities are issuable only in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 thereof. As provided in the Indenture and subject to certain limitations
therein set forth, the Securities are exchangeable for a like aggregate principal amount of the Securities of like tenor of a different authorized denomination, as requested by the Securityholder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 The Indenture and the
Securities shall be governed by, and construed in accordance with, the laws of the State of New York. 

  
 Exhibit A-5

 All terms used in this Security that are defined in the Indenture shall have the meanings
assigned to them in the Indenture. 

  
 Exhibit A-6

 ASSIGNMENT FORM 
 To assign this Security, fill in the form below and have your signature guaranteed: (I) or (we) assign and transfer this Security to 

 
  
  

(Insert assignee’s soc. sec. or tax I.D. no.) 
  

 
  
  

 
  
  

 
  
  

 
  
 (Print or type assignee’s name, address and zip code) 
 and irrevocably appoint
                                         
                                         
                                         
                                         
agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 
  

 
  
  

							
	Date:	 	  
	 	Your Name:	 	  

		 		 		 	(Print your name exactly as it appears on the face of this note)
				
		 		 	Your
Signature:	 	  

	 	 	 	(Sign exactly as your name appears on the face of this note)
				
		 		 	Signature Guarantee*:	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 Exhibit A-7

 EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY4 
 The following exchanges of a part of this Global Security for an interest in another Global Security or for a definitive Security, or exchanges of a part of another Global Security or definitive Security
for an interest in this Global Security, have been made: 
  

									
	 Date of

Exchange
	  	Amount of
decrease in
Principal
Amount of this
Global
Security	  	Amount of
increase in
Principal
Amount of this
Global Security	  	Principal
Amount of this
Global Security
following such
decrease (or
increase)	  	Signature of
authorized
signatory of
Trustee or
Security
Custodian
		  		  		  		  	

  

	4 	If this Security is a Global Security, include this provision. 

  
 Exhibit A-8Exhibit

Exhibit 10.1

FIRST AMENDMENT TO
SECOND AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT

THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT (this “Amendment”), dated as of February 26, 2016, is by and between DHI Mortgage Company, Ltd., a Texas limited partnership (the “Seller”), the Buyers party to the Repurchase Agreement (defined below) (the “Buyers”), and U.S. Bank National Association, a national banking association, as administrative agent for the Buyers (the “Administrative Agent”).
RECITALS
A.    The Seller, the Buyers, and the Administrative Agent are parties to a Second Amended and Restated Master Repurchase Agreement dated as of February 27, 2015 (as amended, restated, or otherwise modified from time to time, the “Repurchase Agreement”).
B.    The parties hereto desire to amend the Repurchase Agreement as provided herein.
AGREEMENT
In consideration of the premises herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
Section 1.Definitions.  Capitalized terms used and not otherwise defined in this Amendment have the meanings specified in the Repurchase Agreement.
Section 2.Amendments.  
2.1    Definitions.  The defined terms “Redwood Trust Jumbo Mortgage Loan” and “Redwood Trust Super Jumbo Mortgage Loan” contained in Section 1.2 of the Repurchase Agreement are deleted in their entirety, and the following definitions are amended and restated or added (as applicable) to read in their entireties as follows:
“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Seller or its Subsidiaries, if any, from time to time concerning or relating to bribery or corruption.
“Buyers’ Margin Percentage” means:
(i)    for all Purchased Loans except Jumbo Mortgage Loans, Super Jumbo Mortgage Loans and Streamline Refinance Loans, 97%;
(ii)    for Jumbo Mortgage Loans, 95%;
(iii)    for Super Jumbo Mortgage Loans, 93%; 
(iv)    for Streamline Refinance Loans, 90%.

“Commitment” means, for each Buyer, its commitment under Section 2.1, subject to reduction as described in Section 2.6, to fund its Funding Share of Transactions, limited to such Buyer’s Committed Sum.  
“Conforming Mortgage Loan” means a conventional first priority Single-family residential Mortgage Loan that is either (i) FHA insured (including FHA insured Mortgage Loans that are high balance Mortgage Loans with required downpayment levels), (ii) VA guaranteed (including VA insured Mortgage Loans that are high balance Mortgage Loans with required downpayment levels), (iii) guaranteed or provided under the USDA Rural Development program, (iv) eligible for sale to an Approved Investor in conjunction with a state or municipal housing bond program, (v) a conventional Mortgage Loan that fully conforms to all Agency underwriting and other requirements and excluding expanded criteria loans as defined under any Agency program, or (vi) any related mortgage-backed securities.
“LIBOR Margin” means 2.125%.
“OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets Control, and any successor thereto. 
“PATRIOT Act” means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001, codified as 31 U.S.C. Section 5318)), as amended from time to time, and any successor statute.
“Privacy Requirements” means (a) Title V of the Gramm-Leach-Bliley Act, 15 U.S.C. 6801 et seq. (as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act), (b) the Dodd-Frank Wall Street Reform and Consumer Protection Act, including without limitation 12 U.S.C. 5512, (c) the federal regulations at 12 C.F.R. Part 1016, (d) the Interagency Guidelines Establishing Information Security Standards at 12 C.F.R. Appendix B to Part 30, and (e) any other applicable federal, state and local laws, rules, regulations and orders relating to the privacy and security of Seller’s Customer Information, as such statutes, regulations, guidelines, laws, rules and orders may be amended from time to time.
“Sanctioned Country” means at any time, any country or territory which is itself the subject or target of any comprehensive Sanctions.
“Sanctioned Person” means at any time, (a) any Person or group listed in any Sanctions-related list of designated Persons maintained by OFAC or the U.S. Department of State, the United Nations Security Council, the European Union or any EU member state, (b) any Person or group operating, organized or resident in a Sanctioned Country, (c) any agency, political subdivision or instrumentality of the government of a Sanctioned Country, or (d) any Person 50% or more owned, directly or indirectly, by any of the above.
“Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those 

2

administered by OFAC or the U.S. Department of State or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom.
“Termination Date” means the earlier of (i) February 24, 2017, and (ii) the date when the Buyers’ Commitments are terminated pursuant to this Agreement, by order of any Governmental Authority or by operation of law.
2.2    Expiration or Termination of the Commitments.  Section 2.2 of the Repurchase Agreement is amended and restated to read in its entirety as follows:
2.2    Expiration or Termination of the Commitments.  Unless extended in writing or terminated earlier in accordance with this Agreement, the Buyers’ Commitments shall automatically expire at the close of business on the Termination Date, without any requirement for notice or any other action by the Administrative Agent, any of the Buyers or any other Person. 
2.3    Request for Increase in Maximum Aggregate Commitment.  Section 2.3 of the Repurchase Agreement is amended and restated to read in its entirety as follows: 
2.3.    Request for Increase in Maximum Aggregate Commitment.  The Seller may from time to time by giving advanced written notice of at least two Business Days to the Administrative Agent in the form of Exhibit G hereto request from the Administrative Agent an increase in the Maximum Aggregate Commitment in increments of $25,000,000, with a minimum increase of $25,000,000 to a specified amount up to $650,000,000 for a period for such increase being designated by the Seller (but not less than 30 days, or if less, the period remaining until the Termination Date); provided that no Default has occurred that has not been cured before it has become an Event of Default, and no Event of Default has occurred that the Administrative Agent has not declared in writing to have been waived or cured.  Upon receipt of such request, the Administrative Agent may request one or more existing Buyers or new Buyers (which new Buyers are acceptable to the Seller) to provide increased Commitments to finance all or a portion of the requested increase.  The Administrative Agent shall notify the Seller of such new and existing Buyers’ responses to requests for increased or new Commitments.  Following such notice, to achieve the full amount of a requested increase, with the prior consent of the Administrative Agent, the Seller may invite additional new Buyers to provide such increase.  Any increase under this Section 2.3 shall be in the sole discretion of the Administrative Agent and the Buyers, and no Buyer will have any obligation to increase its Committed Sum.  The consent of the Administrative Agent and the Buyers to an increase under this Section 2.3 shall be evidenced by the Administrative Agent providing to the parties to this Agreement an updated Schedule BC.  If an increase in the Maximum Aggregate Commitment is achieved, then the Pro Rata ownership interest in the Purchased Loans of each Buyer shall, following funding by the Buyers increasing their Commitment Sums or by the new Buyers, automatically be adjusted proportionately.  Upon the expiration of any such increase, the Seller shall, to the extent required, reduce the Aggregate Outstanding Purchase Price to the amount of the Maximum Aggregate Commitment as then in effect, and the ownership interests in the Purchased Loans of each Buyer shall automatically be adjusted accordingly.

3

2.4    Swing Line Facility.  Section 2.4 of the Repurchase Agreement is amended and restated to read in its entirety as follows:
2.4.    Swing Line Facility.  The Seller may request U.S. Bank to fund revolving Swing Line Transactions for aggregate Purchase Prices which do not on any day exceed the Swing Line Limit for the purpose of initially funding requested Transactions.  Any Swing Line Transactions shall be in the discretion of U.S. Bank.  
2.5    Swing Line Transactions. The opening phrase of Section 2.5(a) of the Repurchase Agreement is amended and restated to read in its entirety as follows:
“(a)  The Seller may request a Swing Line Transaction:”
2.6    Seller Request for Swing Line Transaction.  Section 3.1(b)(2) of the Repurchase Agreement is amended and restated to read in its entirety as follows:
(2)    they are not all received until after 1:00 p.m. but before 3:15 p.m. on the proposed Purchase Date (or they are all received by 1:00 p.m. on the proposed Purchase Date and the Administrative Agent elects not to fund such Transaction as a Regular Transaction), the Seller may request that the Transaction be funded as a Swing Line Transaction;  
2.7    U.S. Bank Election for Swing Line Transactions.  Section 3.1 of the Repurchase Agreement is amended by deleting the phrase “if all of the requirements of Section 2.5 and this Section 3 are not satisfied”.
2.8    Disbursement of Funds for Seller-Funded Transactions.  Section 3.1 of the Repurchase Agreement is amended by adding a new paragraph and by amending and restating the last paragraph thereto to read in their entirety as follows:
Seller may, at its option, submit a Mortgage Loan Transmission File with respect to a Mortgage Loan that Seller intends to fund and close with its own funds.  Such Mortgage Loan shall become a Purchased Loan when (a) all requirements applicable to any Wet Loan becoming an Eligible Loan have been satisfied with respect to such Mortgage Loan, and (b) Seller has provided to the Administrative Agent evidence satisfactory to the Administrative Agent that Seller has wired funds from the Operating Account to the applicable title agent or attorney through which such Mortgage Loans are closed.  Any such Purchased Loan shall be an Additional Purchased Loan for purposes of this Agreement. 
Notwithstanding anything to the contrary in this Agreement, the Custody Agreement or any of the exhibits and schedules hereto or thereto, except as set forth below in this sentence, in no event shall funds for the purchase of any Mortgage Loan be disbursed directly to the Seller; rather, (i) funds for the purchase of Mortgage Loans originated by the Seller shall be disbursed to the applicable title agent or attorney through which such Mortgage Loans are closed, (ii) funds for the purchase of Mortgage Loans that have been originated by a correspondent lender or any other third party shall be disbursed only to such originator and only if the Basic Papers delivered to the Custodian were accompanied 

4

by a bailee letter from the originator that included wire transfer instructions, and (iii) funds with respect to any Mortgage Loan funded directly by the Seller as provided in the preceding paragraph shall be disbursed as Margin Excess in accordance with Section 6.1(b).  Margin Excess may be remitted directly to Sellers in accordance with Section 6.1(b).  
2.9    Transaction Sublimits. Section 4.2 of the Repurchase Agreement is amended and restated to read in its entirety as follows: 
4.2.    Transaction Sublimits.  The following sublimits shall also be applicable to the Transactions hereunder such that after giving effect to any proposed Transaction and after giving effect to any repurchase, addition or substitution of any Mortgage Loan hereunder, the following shall be true:
(a)The outstanding Purchase Prices of Conforming Mortgage Loans may be as much as 100% of the Maximum Aggregate Commitment.
(b)The outstanding Purchase Prices of all Purchased Loans that are Wet Loans shall not exceed (x) 55% of the Maximum Aggregate Commitment on any of the first five and last five Business Days of any month or (y) 35% of the Maximum Aggregate Commitment on any other day (the “Wet Loans Sublimit”).
(c)The outstanding Purchase Prices of all Purchased Loans that are of the type listed in the first column of the following table shall not exceed the percentage of the Maximum Aggregate Commitment listed in the second column of the table:
	
		
	Type of Purchased Loan
	Maximum percentage of 
Maximum Aggregate Commitment 

	Jumbo Mortgage Loans and Super Jumbo Mortgage Loans, taken in the aggregate
	20%

	Super Jumbo Mortgage Loans
	10%

	Streamline Refinance Loans
	5%

(d)    The Purchase Value for any Purchased Loan hereunder shall not be more than One Million Five Hundred Dollars ($1,500,000).
2.10    Each Purchase.  Section 14.2 of the Repurchase Agreement is amended by amending and restating clause (l) in its entirety as follows: 
(l)    Such Transaction shall occur on or before the Termination Date

5

2.11    Compliance with Laws.  Section 15.2(i) of the Repurchase Agreement is amended by adding the following to the end thereof:
The Seller, its Subsidiaries and their respective officers and employees and to the current actual knowledge of the Seller its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.  None of the Seller, any Subsidiary, or to the current actual knowledge of the Seller or such Subsidiary any of their respective directors, officers or employees is a Sanctioned Person.  No Transaction, use of the proceeds of any Transaction or other transactions contemplated hereby will violate Anti-Corruption Laws or applicable Sanctions.  The Seller and its Subsidiaries have all permits, licenses and approvals required by such laws, copies of which have been provided to the Buyer.  The Seller and its Subsidiaries are in compliance in all material respects with the PATRIOT Act to the extent applicable to the Seller and its Subsidiaries.  Neither any Transaction nor the use of the proceeds thereof will violate the PATRIOT Act, the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 C.F.R., Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto or successor statute thereto.
2.12    Office of Foreign Assets Control and USA Patriot Act.  Section 16.2 of the Repurchase Agreement is amended and restated in its entirety as follows:
16.2.    Office of Foreign Assets Control and USA Patriot Act.  The Seller shall not request any Transaction, and the Seller shall not use and shall ensure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any Transaction (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws or (ii) in any manner that would result in the violation of any applicable Sanctions.  The Seller shall, and shall cause each Subsidiary to, comply in all material respects with all laws, rules, regulations, orders, writs, judgments, injunctions, decrees or awards to which it may be subject including, without limitation, all Environmental Laws, Anti-Corruption Laws and applicable Sanctions.  The Seller shall, and shall cause each Subsidiary to, provide such information and take such actions as are reasonably requested by the Administrative Agent or any Buyer in order to assist the Administrative Agent and the Buyers in maintaining compliance with the Patriot Act.  
2.13    Privacy of Customer Information.  Section 16.9 of the Repurchase Agreement is amended by amending and restating the fifth sentence therein in its entirety as follows:
The Administrative Agent agrees to maintain an information security program and to assess, manage and control risks relating to the security and confidentiality of Seller’s Customer Information pursuant to such program in the same manner as the Administrative Agent does in respect of its own customers’ information, and shall implement the standards relating to such risks in the manner set forth in the Interagency Guidelines Establishing Standards for Customer Information Security at 12 CFR Appendix B to Part 30 (the “Information Security Regulation”).  In the event of actual or suspected unauthorized disclosure, loss, or unauthorized access to sensitive customer information (as defined in the Information Security Regulation), Administrative Agent shall immediately, and in no event later than five (5) Business Days after discovery, notify Seller in writing and take appropriate, commercially reasonable, action to prevent further unauthorized disclosure, loss or unauthorized access.

6

2.14    Tangible Net Worth.  Section 17.12 of the Repurchase Agreement is amended and restated to read in its entirety as follows:  
17.12.    Tangible Net Worth.  At all times, the Seller’s Consolidated Tangible Net Worth shall not be less than $100,000,000.
2.15    Liquidity.  Section 17.14 of the Repurchase Agreement is amended and restated to read in its entirety as follows:  
17.14.    Liquidity.  Seller’s Liquidity shall at all times be no less than $30,000,000.
2.16    Schedules.  Schedules AI, BC and 23 to the Repurchase Agreement are amended and restated to read in their entireties as set forth on Schedule AI, BC and 23 hereto.
2.17    Compliance Certificate.  Exhibit C to the Repurchase Agreement is amended and restated to read in its entirety as set forth on Exhibit C hereto.
Section 3.Effectiveness.  This Amendment shall become effective as of the date first above written upon the Seller’s fulfillment of the following conditions precedent:
3.1    The Administrative Agent shall have received (or be satisfied that it will receive by such deadline as the Administrative Agent shall specify) the following, all of which must be satisfactory in form and content to the Administrative Agent:
(a)this Amendment, duly executed by the Seller, the Buyers, and the Administrative Agent;
(b)a fee letter in form and substance satisfactory to U.S. Bank duly executed by the Seller;
(c)a current UCC search report of a UCC filings search in the office of the Secretary of State of the State of Texas;
(d)a certificate of the General Partner’s corporate secretary or assistant secretary or other authorized officer dated as of the date hereof as to (i) the incumbency of the officers of the Seller executing this Amendment and all other Repurchase Documents executed or to be executed by or on behalf of the Seller, (ii) the authenticity of their signatures, and specimens of their signatures shall be included in such certificate or set forth on an exhibit attached to it (the Administrative Agent, the Buyers and the Custodian shall be entitled to rely on that certificate until the Seller has furnished a new certificate to the Administrative Agent, and (iii) resolutions of the General Partner’s board of directors, authorizing the execution, delivery and performance by the Seller of this Amendment and all other Repurchase Documents to be delivered by the Seller pursuant to this Amendment;
(e)a certificate of an authorized officer of the Seller dated as of the date hereof and certifying that attached thereto are true and correct copies of (i) the Seller’s limited partnership agreement, (ii) the Seller’s certificate of limited partnership issued by 

7

the state of Texas, (iii) General Partner’s articles of incorporation certified by the Secretary of State of the State of Delaware and (iv) General Partner’s bylaws or regulations and all amendments; and
(f)an Officer’s Certificate for the Seller dated as of the date hereof and certifying that, (i) after giving effect to this Amendment, no Default or Event of Default will exist, (ii) all of the representations and warranties made by the Seller in the Repurchase Documents are true and correct as of the date hereof and (iii) there has been no material adverse change since the Statement Date in any of the Central Elements in respect of the Seller or any of its Subsidiaries.
3.2    Payment to the Administrative Agent or the Custodian, as applicable, of all fees and expenses (including the disbursements and reasonable fees of the Administrative Agent’s attorneys) of the Administrative Agent and the Buyers payable by Seller pursuant to Section 9 of the Repurchase Agreement accrued and billed for to the date of the Seller’s execution and delivery of this Agreement.
Section 4.Miscellaneous.
4.1    Ratifications.  This Amendment shall modify and supersede all terms and provisions set forth in the Repurchase Documents that are inconsistent with this Amendment, and the terms and provisions of the Repurchase Documents are ratified and confirmed and shall continue in full force and effect.
4.2    Seller Representations and Warranties.  The Seller hereby represents and warrants that the representations and warranties set forth in Section 15 of the Repurchase Agreement are true and correct in all material respects with the same force and effect on and as of the date hereof as though made as of the date hereof.
4.3    Survival.  The representations and warranties made by the Seller in this Amendment shall survive the execution and delivery of this Amendment.
4.4    Reference to Repurchase Agreement.  Each of the Repurchase Documents, including the Repurchase Agreement and any and all other agreements, documents, or instruments now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Repurchase Agreement as amended hereby, is hereby amended so that any reference in such Repurchase Document to the Repurchase Agreement shall refer to the Repurchase Agreement as amended and modified hereby.
4.5    Applicable Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of New York as applicable to the Repurchase Agreement.
4.6    Successors and Assigns.  This Amendment is binding upon and shall inure to the benefit of the Seller, the Buyers, the Administrative Agent, and their respective successors and assigns, except that the Seller may not assign or transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and, to the extent required by the Repurchase Agreement, the Buyers.

8

4.7    Counterparts.  This Amendment may be executed in one or more counterparts, each of which when so executed shall be deemed an original, but all of which when taken together shall constitute one and the same instrument.
4.8    Headings.  The headings, captions, and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment.
4.9    ENTIRE AGREEMENT.  THIS AMENDMENT AND THE OTHER REPURCHASE DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.
[Signature Pages Follow]

9

IN WITNESS WHEREOF the parties have caused this Amendment to be executed as of the date first set forth above.
DHI MORTGAGE COMPANY, LTD., 
as Seller and Servicer

By:  DHI Mortgage Company GP, Inc.
Its General Partner

By:   /s/ MARK C. WINTER                
Name:   Mark C. Winter            
Title:   EVP/CFO

S-1
First Amendment to Second Amended and Restated Master Repurchase Agreement

U.S. BANK NATIONAL ASSOCIATION, 
as Administrative Agent and a Buyer

By:   /s/ EDWIN D. JENKINS                
Name:   Edwin D. Jenkins            
Title:   Senior Vice President

S-2
First Amendment to Second Amended and Restated Master Repurchase Agreement

ASSOCIATED BANK, N.A., as a Buyer

By:   /s/ THOMAS J. CONNALLY            
Name:   Thomas J. Connally            
Title:   Senior Vice President

S-3
First Amendment to Second Amended and Restated Master Repurchase Agreement

BRANCH BANKING & TRUST COMPANY, as a Buyer

By:   /s/ SAMUEL W. BRYAN                
Name:   Samuel W. Bryan            
Title:   Senior Vice President

S-4
First Amendment to Second Amended and Restated Master Repurchase Agreement

COMERICA BANK, as a Buyer

By:   /s/ DANIEL VOIGT                    
Name:   Daniel Voigt                
Title:   Vice President

S-5
First Amendment to Second Amended and Restated Master Repurchase Agreement

EVERBANK, as a Buyer

By:   /s/ ELIZABETH R. MOORE                    
Name:   Elizabeth R. Moore                
Title:   Vice President

S-6
First Amendment to Second Amended and Restated Master Repurchase Agreement

CAPITAL ONE, NATIONAL ASSOCIATION, as a Buyer

By:   /s/ KEVIN GIBBONS                    
Name:   Kevin Gibbons                
Title:   Managing Director

S-7
First Amendment to Second Amended and Restated Master Repurchase Agreement

EXHIBIT C TO FIRST AMENDMENT
TO SECOND AMENDED AND RESTATED
MASTER REPURCHASE AGREEMENT

FORM OF OFFICER’S CERTIFICATE WITH COMPUTATIONS
TO SHOW COMPLIANCE OR NON-COMPLIANCE WITH
CERTAIN FINANCIAL COVENANTS

OFFICER’S CERTIFICATE

ADMINISTRATIVE AGENT:    U.S. Bank National Association
SELLER:    DHI MORTGAGE COMPANY, LTD.
SUBJECT PERIOD:       ended     , 20___
DATE:      , 20___
This certificate is delivered to the Administrative Agent and the Buyers under the Second Amended and Restated Master Repurchase Agreement dated as of February 27, 2015 (as supplemented, amended or restated from time to time, the “Current Repurchase Agreement”), among the Seller, the Administrative Agent and the Buyers from time to time party thereto.  Unless they are otherwise defined in this request, terms defined in the Current Repurchase Agreement have the same meanings here as there.
The undersigned officer of the Seller certifies to the Administrative Agent that on the date of this certificate:
1.    The undersigned is an incumbent officer of the Seller, holding the title stated below his or her signature below.
2.    The Seller’s Financial Statements that are attached to this certificate were prepared in accordance with GAAP and present fairly the Seller’s financial condition and results of operations as of _________________ for that month (the “Subject Period”) and for the year to that date (except that interim (i.e., other than annual) Financial Statements exclude notes to Financial Statements and statements of changes to stockholders’ equity and are subject to year-end adjustments).
3.    The undersigned officer of the Seller supervised a review of the Seller’s activities during the Subject Period in respect of the following matters and has determined the following:
(a) except to the extent that (i) a representation or warranty speaks to a specific date or (ii) the facts on which a representation or warranty is based have changed by transactions or conditions contemplated or expressly permitted by the Repurchase Documents, the representations and warranties of the Seller in the Current Repurchase Agreement and the other Repurchase Documents are true and correct in all material respects, other than the changes, if any, described on the attached Annex A;

Ex C-1

(b) no event has occurred that could reasonably be expected to have a materially adverse effect on any of the Central Elements of the Seller;
(c) the Seller has complied with all of its obligations under the Repurchase Documents, other than the deviations, if any, described on the attached Annex A;
(d) no Event of Default has occurred that has not been declared by the Administrative Agent in writing to have been cured or waived, and no Default has occurred that has not been cured before it became an Event of Default, other than those Events of Default and/or Defaults, if any, described on the attached Annex A; and
(e) compliance by the Seller with the financial covenants in Sections 17.12, 17.13, and 17.14 of the Current Repurchase Agreement, is accurately calculated on the attached Annex A.
DHI MORTGAGE COMPANY, LTD.
By: DHI Mortgage Company GP, Inc.
Its General Partner

By:      _______________________________
Name:      _______________________________
Title:      _______________________________

Ex C-2

ANNEX A TO OFFICER’S CERTIFICATE
1.    Describe changes to representations and warranties, if any (clause 3(a) of attached Officer’s Certificate); if none, so state.
2.    Describe deviations from compliance with obligations under the Repurchase Documents (clause 3(c) of attached Officer’s Certificate); if none, so state.
3.    Describe Defaults or Events of Default, if (clause 3(d) of attached Officer’s Certificate); if none, so state.
4.    Calculate compliance with covenants in Sections 17.12 through 17.14 of the Current Repurchase Agreement (clause 3(e) of attached Officer’s Certificate):
(a)    Section 17.12.  The Seller’s Tangible Net Worth as of __________ is $____________________ (the minimum under Section 17.12 is $100,000,000.)
(b)    Section 17.13.  The ratio of Seller’s GAAP Indebtedness and Contingent Indebtedness to Tangible Net Worth of the Seller on a consolidated basis with its Restricted Subsidiaries, measured monthly is ___ to 1.0 (the maximum ratio under Section 17.13 is 8.0:1.0.)
(c)    Section 17.14.  The Seller’s liquidity (unrestricted cash, Cash Equivalents and unused portion of the Maximum Aggregate Commitments) for the month ended __________________, 20__ was $_____________ (the minimum under Section 17.14 is $30,000,000).
5.    For the Subject Period, (i) describe and give details regarding actual repurchase, make whole and indemnity payments made by Seller to any Person, and (ii) provide a summary of notices received by the Seller requesting or demanding that the Seller repurchase (or pay indemnity or other compensation in respect of) Mortgage Loans previously sold or otherwise disposed of by the Seller to any Investor or other Person pursuant to any express or implied repurchase or indemnity obligation as per Section 16.5.  (Attach schedule or explanation.)

Attachment to Exhibit A
Purchased Loans Curtailment Report
(List Purchased Loans on which unscheduled principal payment, prepayment or reduction of more than one regularly scheduled principal and interest installment payment was received since last monthly report and resulting new Principal Balance.)

SCHEDULE AI TO FIRST AMENDMENT
TO SECOND AMENDED AND RESTATED
MASTER REPURCHASE AGREEMENT

SCHEDULE AI
TO SECOND AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT

APPROVED INVESTORS*

	
					
	Investor
	S&P CP Rating
	Moody’s CP Rating
	Related Parent Company/Lead Bank
	Product Approval

	Bayview Financial
	N/A
	N/A
	Bayview Asset Management
	Conforming

	Charter Bank
	N/A
	N/A
	 
	Conforming

	CitiMortgage, Inc.
	A-1
	P-1
	Citibank, N.A.
	Conforming/Non-conforming

	Colonial Savings and Loan Association
	N/A
	N/A
	 
	Conforming

	Connective Mortgage Advisory Corporation
	A-2
	P-2
	AIG
	Conforming/Non-conforming

	Credit Suisse Securities (USA) LLC
	A-1
	P-1
	Credit Suisse AG
	Conforming/Non-conforming

	Empire Mortgage, Inc.
	N/A
	N/A
	 
	Conforming

	Everbank
	N/A
	N/A
	 
	Conforming

	Federal Home Loan Mortgage Corporation (FHLMC)
	N/A
	N/A
	 
	Conforming

	Federal National Mortgage Assoc. (FNMA)
	N/A
	N/A
	 
	Conforming

	First Mortgage Corporation
	N/A
	N/A
	 
	Conforming

	First Tribal Lending
	N/A
	N/A
	 
	Conforming

	Franklin Credit Management Group
	N/A
	N/A
	 
	Conforming

	Government National Mortgage Assoc. (GNMA)
	N/A
	N/A
	 
	Conforming

	Goldman, Sachs & Co.
	A-2
	P-2
	Goldman Sachs Bank, USA
	Conforming

	JPMorgan Chase Bank
	A-1
	P-1
	JPMorgan Chase & Co.
	Conforming/Non-conforming

	JPMorgan Chase Bank NA
	A-1
	P-1
	JPMorgan Chase Bank NA
	Conforming/Non-conforming

	Leader Financial Services
	N/A
	N/A
	 
	Conforming

	Marsh Associates, Inc.
	N/A
	N/A
	 
	Conforming

	Merrill Lynch Credit Corporation
	N/A
	N/A
	 
	Conforming

	Morgan Stanley Mortgage Capital
	A-1
	P-1
	 
	Conforming/Non-conforming

	PennyMac Mortgage Investment Trust
	N/A
	N/A
	 
	Conforming/Non-conforming

Sch. AI-1

	
					
	Redwood Trust
	N/A
	N/A
	 
	Conforming/Non-conforming

	Residential Mortgage Solution
	N/A
	N/A
	 
	Conforming

	SN Servicing Corporation
	N/A
	N/A
	 
	Conforming

	Standard Mortgage Corporation
	N/A
	N/A
	 
	Conforming

	Steel Mountain Capital, LLC
	N/A
	N/A
	 
	Conforming

	UBS
	A-1
	P-1
	UBS AG
	Conforming/Non-conforming

	US Bank Home Mortgage
	A-1
	P-1
	U.S. Bancorp
	Conforming/Non-conforming

	Wells Fargo Bank, N.A.
	A-1
	P-1
	Wells Fargo & Company
	Conforming/Non-conforming

	West Coast Servicing, Inc.
	N/A
	N/A
	 
	Conforming

	 
	 
	 
	 
	 

	Housing Agencies
	 
	 
	Master Servicer
	 

	Alabama Housing Finance Authority
	N/A
	N/A
	 
	Conforming

	California Housing Finance Agency
	N/A
	N/A
	USBHM
	Conforming

	Colorado Housing & Finance Authority
	N/A
	N/A
	 
	Conforming

	Georgia Housing and Finance Authority
	N/A
	N/A
	 
	Conforming

	Idaho Housing and Finance Authority
	N/A
	N/A
	 
	Conforming

	Illinois Housing Development Authority
	N/A
	N/A
	USBHM
	Conforming

	Minnesota Housing Finance Agency
	N/A
	N/A
	USBHM
	Conforming

	New Mexico Finance Authority
	N/A
	N/A
	 
	Conforming

	Nevada Housing Division
	N/A
	N/A
	USBHM
	Conforming

	North Carolina Housing Finance
	N/A
	N/A
	 
	Conforming

	Oregon Housing and Community Services
	N/A
	N/A
	 
	Conforming

	South Carolina State Housing Finance
	N/A
	N/A
	USBHM
	Conforming

	Utah Housing Corporation
	N/A
	N/A
	 
	Conforming

	Washington State Housing Finance Commission
	N/A
	N/A
	 
	Conforming

*All Affiliate and Subsidiary purchasers of each related parent company identified herein shall be an Approved Investor.

Sch. AI-2

SCHEDULE BC TO
FIRST AMENDMENT TO
SECOND AMENDED AND RESTATED
MASTER REPURCHASE AGREEMENT

SCHEDULE BC
TO SECOND AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT

THE BUYERS' COMMITTED SUMS

	
							
	Buyer

	Committed Sum for each period from and including the following dates in any calendar year to and including the following dates in any calendar year:

January 24 - March 24
April 26 - June 23
July 26 - September 22
October 25 - December 22
	Committed Sum for each period from and including the following dates in any calendar year to and including the following dates in any calendar year:

March 25 - April 25
June 24 - July 25
September 23 - October 24
December 23 - January 23 

	U.S. Bank National Association
	$
	190,000,000
	

	$
	220,000,000
	

	Associated Bank, N.A.
	$
	33,250,000
	

	$
	38,500,000
	

	Branch Banking & Trust Company
	$
	83,125,000
	

	$
	96,250,000
	

	Comerica Bank
	$
	83,125,000
	

	$
	96,250,000
	

	Everbank
	$
	61,750,000
	

	$
	71,500,000
	

	Capital One Bank
	$
	23,750,000
	

	$
	27,500,000
	

	Maximum Aggregate Commitment
	$
	475,000,000
	

	$
	550,000,000
	

Sch. BC-1

SCHEDULE 23 TO
FIRST AMENDMENT TO
SECOND AMENDED AND RESTATED
MASTER REPURCHASE AGREEMENT

SCHEDULE 23
TO SECOND AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT
BUYERS’ ADDRESSES FOR NOTICE

Edwin Jenkins
U.S. Bank National Association
800 Nicollet Mall - BC-MN-H03B
Minneapolis, MN 55402-7020
Tel:    (505) 424-5905
Fax:    (612) 303-2253
edwin.jenkins@usbank.com
    
Tom Connally 
Associated Bank, N.A.
Mortgage Warehouse Group 
130 East Randolph Drive, ML2 
Chicago, IL 60601 
Tel:    (312) 565-5273 
Fax:    (312) 861-1518
thomas.connally@associatedbank.com

Von Ringger
Comerica Bank
411 West Lafayette Blvd
6th Floor
Detroit, MI  48226
Tel:    (313) 222-9285
vlringger@comerica.com

Daniel J. Voigt
Comerica Bank
1717 Main Street
Dallas, TX  75201
Tel:    (214) 462-4277
djvoigt@comerica.com

Jeff Ellison
BB&T
201 E Pine St
6th Floor
Orlando, FL  32801
Tel:    (407) 835-6622
jellison@bbandt.com

Samuel Bryan
BB&T
1425 Seminole Trail
4th Floor
Charlottesville, VA  22901
Tel:    (434) 422-9613
sbryan@bbandt.com

Sch. 23-1

Elizabeth Moore 
EverBank 
501 Riverside Avenue
Jacksonville, FL 32202 
Tel:    (561) 360-2944
Elizabeth.Moore@EverBank.com

Jason Cardella 
Capital One Bank 
77 West Wacker Drive 
11th Floor 
Chicago, IL 60601 
Tel:    (312) 739-6226
jason.cardella@capitalone.com

Sch. 23-2

Company Contacts:

Mark Winter / Lisa Collett
DHI Mortgage
10700 Pecan Park Blvd.
Suite 450 
Austin, Texas 78750
Tel:    (512) 533-1390 / 1382
Fax:    (866) 329-2803
mwinter@drhorton.com
lcollett@dhimortgage.com

Jeff Tebeaux
D.R. Horton, Inc.
301 Commerce Street, Suite 500
Ft. Worth, Texas  76102
Tel:    (817) 390-8371
Fax:    (469) 522-8453
jtebeaux@drhorton.com

Sch. 23-3

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