Document:

Loan and Security Agreement dated as of October 27, 2009

 Exhibit 4.9 
 EXECUTION COPY 
  

 
 HEADWATERS CONSTRUCTION
MATERIALS, INC. 
 TAPCO INTERNATIONAL CORPORATION 

HEADWATERS RESOURCES, INC., and 
 EACH OF THEIR RESPECTIVE SUBSIDIARIES 
 IDENTIFIED ON THE SIGNATURE PAGES
HEREOF, 
 as Borrowers 
  

 
  

 
 LOAN AND SECURITY AGREEMENT

 Dated as of October 27, 2009 
 $70,000,000 
  
  

 
  
 CERTAIN FINANCIAL INSTITUTIONS, 
 as Lenders 

and 
 BANK OF
AMERICA, N.A., 
 as Administrative Agent and Sole Lead Arranger 

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 Section 1.  
	  	DEFINITIONS; RULES OF CONSTRUCTION	  	 	1	  
			
	 1.1.  
	  	Definitions	  	 	1	  
	 1.2.  
	  	Accounting Terms	  	 	34	  
	 1.3.  
	  	Uniform Commercial Code	  	 	34	  
	 1.4.  
	  	Certain Matters of Construction	  	 	34	  
			
	 Section 2.  
	  	CREDIT FACILITIES	  	 	35	  
			
	 2.1.  
	  	Revolver Commitment	  	 	35	  
	 2.2.  
	  	Intentionally Omitted	  	 	36	  
	 2.3.  
	  	Letter of Credit Facility	  	 	36	  
			
	 Section 3.  
	  	INTEREST, FEES AND CHARGES	  	 	38	  
			
	 3.1.  
	  	Interest	  	 	38	  
	 3.2.  
	  	Fees	  	 	39	  
	 3.3.  
	  	Computation of Interest, Fees, Yield Protection	  	 	40	  
	 3.4.  
	  	Reimbursement Obligations	  	 	40	  
	 3.5.  
	  	Illegality	  	 	40	  
	 3.6.  
	  	Inability to Determine Rates	  	 	40	  
	 3.7.  
	  	Increased Costs; Capital Adequacy	  	 	41	  
	 3.8.  
	  	Mitigation	  	 	42	  
	 3.9.  
	  	Funding Losses	  	 	42	  
	 3.10.
	  	Maximum Interest	  	 	42	  
			
	 Section 4.  
	  	LOAN ADMINISTRATION	  	 	42	  
			
	 4.1.  
	  	Manner of Borrowing and Funding Revolver Loans	  	 	42	  
	 4.2.  
	  	Defaulting Lender	  	 	44	  
	 4.3.  
	  	Number and Amount of LIBOR Loans; Determination of Rate	  	 	44	  
	 4.4.  
	  	Borrower Agent	  	 	44	  
	 4.5.  
	  	One Obligation	  	 	45	  
	 4.6.  
	  	Effect of Termination	  	 	45	  
			
	 Section 5.  
	  	PAYMENTS	  	 	46	  
			
	 5.1.  
	  	General Payment Provisions	  	 	46	  
	 5.2.  
	  	Repayment of Revolver Loans	  	 	46	  
	 5.3.  
	  	Intentionally Omitted	  	 	46	  
	 5.4.  
	  	Payment of Other Obligations	  	 	46	  
	 5.5.  
	  	Marshaling; Payments Set Aside	  	 	46	  
	 5.6.  
	  	Post-Default Allocation of Payments	  	 	46	  
	 5.7.  
	  	Application of Payments	  	 	47	  
	 5.8.  
	  	Loan Account; Account Stated	  	 	47	  
	 5.9.  
	  	Taxes	  	 	48	  
	 5.10.
	  	Lender Tax Information	  	 	48	  

  
 i 

					
	 5.11.
	  	Nature and Extent of Each Borrower’s Liability	  	49
			
	 Section 6.  
	  	CONDITIONS PRECEDENT	  	51
			
	 6.1.  
	  	Conditions Precedent to Initial Loans	  	51
	 6.2.  
	  	Conditions Precedent to All Credit Extensions	  	53
			
	 Section 7.  
	  	COLLATERAL	  	53
			
	 7.1.  
	  	Grant of Security Interest	  	53
	 7.2.  
	  	Lien on Deposit Accounts; Cash Collateral	  	54
	 7.3.  
	  	Lien on Real Estate	  	55
	 7.4.  
	  	Other Collateral	  	55
	 7.5.  
	  	No Assumption of Liability	  	55
	 7.6.  
	  	Further Assurances	  	55
	 7.7.  
	  	Foreign Subsidiary Stock	  	56
			
	 Section 8.  
	  	COLLATERAL ADMINISTRATION	  	56
			
	 8.1.  
	  	Borrowing Base Certificates	  	56
	 8.2.  
	  	Administration of Accounts	  	56
	 8.3.  
	  	Administration of Inventory	  	57
	 8.4.  
	  	Administration of Equipment	  	57
	 8.5.  
	  	Administration of Deposit Accounts	  	58
	 8.6.  
	  	General Provisions	  	58
	 8.7.  
	  	Power of Attorney	  	59
			
	 Section 9.  
	  	REPRESENTATIONS AND WARRANTIES	  	60
			
	 9.1.  
	  	General Representations and Warranties	  	60
	 9.2.  
	  	Complete Disclosure	  	64
			
	 Section 10.
	  	COVENANTS AND CONTINUING AGREEMENTS	  	65
			
	 10.1.
	  	Affirmative Covenants	  	65
	 10.2.
	  	Negative Covenants	  	68
	 10.3.
	  	Fixed Charge Coverage Ratio	  	73
			
	 Section 11.
	  	EVENTS OF DEFAULT; REMEDIES ON DEFAULT	  	74
			
	 11.1.
	  	Events of Default	  	74
	 11.2.
	  	Remedies upon Default	  	75
	 11.3.
	  	License	  	76
	 11.4.
	  	Setoff	  	76
	 11.5.
	  	Remedies Cumulative; No Waiver	  	76
			
	 Section 12.
	  	AGENT	  	77
			
	 12.1.
	  	Appointment, Authority and Duties of Agent	  	77
	 12.2.
	  	Agreements Regarding Collateral and Field Examination Reports	  	78
	 12.3.
	  	Reliance By Agent	  	78

  
 ii 

							
	 12.4.  
	  	Action Upon Default	  	 	79	  
	 12.5.  
	  	Ratable Sharing	  	 	79	  
	 12.6.  
	  	Indemnification of Agent Indemnitees	  	 	79	  
	 12.7.  
	  	Limitation on Responsibilities of Agent	  	 	79	  
	 12.8.  
	  	Successor Agent and Co-Agents	  	 	80	  
	 12.9.  
	  	Due Diligence and Non-Reliance	  	 	80	  
	 12.10.
	  	Replacement of Certain Lenders	  	 	81	  
	 12.11.
	  	Remittance of Payments and Collections	  	 	81	  
	 12.12.
	  	Agent in its Individual Capacity	  	 	81	  
	 12.13.
	  	Agent Titles	  	 	82	  
	 12.14.
	  	No Third Party Beneficiaries	  	 	82	  
			
	 Section 13.  
	  	BENEFIT OF AGREEMENT; ASSIGNMENTS AND PARTICIPATIONS	  	 	82	  
			
	 13.1.  
	  	Successors and Assigns	  	 	82	  
	 13.2.  
	  	Participations	  	 	82	  
			
	 Section 14.  
	  	MISCELLANEOUS	  	 	83	  
			
	 14.1.  
	  	Consents, Amendments and Waivers	  	 	83	  
	 14.2.  
	  	Indemnity	  	 	84	  
	 14.3.  
	  	Notices and Communications	  	 	84	  
	 14.4.  
	  	Performance of Borrowers’ Obligations	  	 	85	  
	 14.5.  
	  	Credit Inquiries	  	 	85	  
	 14.6.  
	  	Severability	  	 	85	  
	 14.7.  
	  	Cumulative Effect; Conflict of Terms	  	 	85	  
	 14.8.  
	  	Counterparts	  	 	85	  
	 14.9.  
	  	Entire Agreement	  	 	85	  
	 14.10.
	  	Relationship with Lenders	  	 	86	  
	 14.11.
	  	No Advisory or Fiduciary Responsibility	  	 	86	  
	 14.12.
	  	Confidentiality	  	 	86	  
	 14.13.
	  	Intentionally Omitted	  	 	87	  
	 14.14.
	  	GOVERNING LAW	  	 	87	  
	 14.15.
	  	Consent to Forum; Arbitration	  	 	87	  
	 14.16.
	  	Waivers by Borrowers	  	 	88	  
	 14.17.
	  	Patriot Act Notice	  	 	88	  
	 14.18.
	  	Intercreditor Agreement	  	 	88	  

  
 iii

 LIST OF EXHIBITS AND SCHEDULES 

 

			
	Exhibit A	  	Revolver Note
	Exhibit B	  	Assignment and Acceptance
	Exhibit C	  	Assignment Notice

  

			
	Schedule P-1	  	Investments
	Schedule 1.1	  	Commitments of Lenders
	Schedule 7.3.1	  	Real Estate Collateral
	Schedule 8.5	  	Deposit Accounts
	Schedule 8.6.1	  	Business Locations
	Schedule 9.1.4	  	Names and Capital Structure
	Schedule 9.1.11	  	Patents, Trademarks, Copyrights and Licenses
	Schedule 9.1.14	  	Environmental Matters
	Schedule 9.1.15	  	Restrictive Agreements
	Schedule 9.1.16	  	Litigation
	Schedule 9.1.18	  	Pension Plans
	Schedule 9.1.20	  	Labor Contracts
	Schedule 10.2.2	  	Existing Liens
	Schedule 10.2.17	  	Existing Affiliate Transactions

  
 iv 

 LOAN AND SECURITY AGREEMENT 

THIS LOAN AND SECURITY AGREEMENT is dated as of October 27, 2009, among HEADWATERS CONSTRUCTION MATERIALS, INC., a Utah corporation
(“HCM”), TAPCO INTERNATIONAL CORPORATION, a Michigan corporation (“Tapco”), HEADWATERS RESOURCES, INC., a Utah corporation (“HRI”, and together with HCM, Tapco, and each of HRI’s, HCM’s
and Tapco’s Subsidiaries identified on the signature pages hereof, each individually a “Borrower”, and collectively, the “Borrowers”), the financial institutions party to this Agreement from time to time as
lenders (collectively, “Lenders”), and BANK OF AMERICA, N.A., a national banking association, as administrative agent for the Lenders (in such capacity, “Agent”) and as sole lead arranger. 

R E C I T A L S: 

Borrowers have requested that Lenders provide a credit facility to Borrowers to finance their mutual and collective business enterprise. Lenders are
willing to provide the credit facility on the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, for valuable
consideration hereby acknowledged, the parties agree as follows: 
 SECTION 1. DEFINITIONS; RULES OF CONSTRUCTION 

1.1. Definitions. As used herein, the following terms have the meanings set forth below: 

Account: as defined in the UCC, including all rights to payment for goods sold or leased, or for services rendered. 

Account Debtor: a Person who is obligated under an Account, Chattel Paper or General Intangible. 

Acquisition: any transaction, or any series of related transactions, consummated on or after the Closing Date, by which any
Borrower (i) acquires any going business or all or substantially all of the assets of any firm, corporation or limited liability company, or division thereof, whether through purchase of assets, merger or otherwise or (ii) acquires all or
substantially all of the Equity Interests of any other Person. 
 Affiliate: with respect to any Person, another
Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. “Control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have correlative meanings.

 Agent Indemnitees: Agent and its officers, directors, employees, Affiliates, agents and attorneys. 

Agent Professionals: attorneys, accountants, appraisers, auditors, business valuation experts, environmental engineers or
consultants, turnaround consultants, and other professionals and experts retained by Agent. 
 Allocable Amount: as
defined in Section 5.11.3. 

 Anti-Terrorism Laws: any laws relating to terrorism or money laundering, including
the Patriot Act. 
 Applicable Law: with respect to a Person, all laws, rules, regulations and governmental guidelines
applicable to such Person or its conduct, transaction, agreement or matter in question, including all applicable statutory law, common law and equitable principles, and all provisions of constitutions, treaties, statutes, rules, regulations, orders
and decrees of Governmental Authorities. 
 Applicable Margin: with respect to any Type of Loan, the margin set forth
below, as determined by the Fixed Charge Coverage Ratio for the last calendar month: 
  

											
	 Level
	  	 Fixed Charge Coverage Ratio
	  	Base Rate
Revolver Loans	 	 	LIBOR
Revolver Loans	 
				
	 I
	  	Greater than or equal to 1.50 to 1.00	  	 	2.25	% 	 	 	3.75	% 
				
	 II
	  	Less than 1.50 to 1.00 but greater than or equal to 1.30 to 1.00	  	 	2.50	% 	 	 	4.00	% 
				
	 III
	  	Less than 1.30 to 1.00	  	 	2.75	% 	 	 	4.25	% 

 Notwithstanding the forgoing, from the
date hereof until the first day of the month following receipt by Agent pursuant to Section 10.1.2 of the financial statements and corresponding Compliance Certificate for the month ending April 30, 2010, margins shall be determined
as if Level II were applicable regardless of the Fixed Charge Coverage Ratio for the last calendar month. Thereafter, the margins shall be subject to increase or decrease upon receipt by Agent pursuant to Section 10.1.2 of the financial
statements and corresponding Compliance Certificate for the last calendar month, which change shall be effective on the first day of the calendar month following receipt. If, by the first day of a month, any financial statements and Compliance
Certificate due in the preceding month have not been received, then, at the option of Agent or Required Lenders, the margins shall be determined as if Level III were applicable, from such day until the first day of the calendar month following
actual receipt. 
 Approved Fund: any Person (other than a natural person) that is engaged in making, purchasing, holding
or otherwise investing in commercial loans and similar extensions of credit in its ordinary course of activities, and is administered or managed by a Lender, an entity that administers or manages a Lender, or an Affiliate of either. 

Asset Disposition: a sale, lease, license, consignment, transfer or other disposition of Property of an Obligor, including a
disposition of Property in connection with a sale-leaseback transaction or synthetic lease, but excluding any (i) damage to, or loss of or destruction, or loss of title to, physical property of any Borrower or Guarantor, and (ii) taking of
any property of any Borrower or Guarantor or any portion thereof, in or by condemnation or other eminent domain proceedings pursuant to any law, general or special, or by reason of the temporary requisition or use of any property of any Borrower or
any Guarantor or any portion thereof by an Governmental Authority. 
 Assignment and Acceptance: an assignment agreement
between a Lender and Eligible Assignee, in the form of Exhibit B. 
 Availability: the Borrowing Base minus
the principal balance of all Revolver Loans. 

  
 2 

 Availability Block: at Agent’s election, in its sole discretion, a reserve in an
amount equal to 10% of the aggregate Revolver Commitments, to be imposed during any Availability Block Period. 

Availability Block Commencement Date: any day that (a) the Excess Availability is less than 40% of the Revolver Commitment
and (b) at any time after the occurrence of an initial Availability Block Period, a Default or an Event of Default occurs. 

Availability Block Period: the period (a) commencing on the Availability Block Commencement Date and (b) ending on the
related Availability Block Termination Date. 
 Availability Block Termination Date: any day following an Availability
Block Commencement Date when both (a) no Defaults or Events of Default are continuing, and (b) for each day during the two consecutive calendar month period preceding such date the Excess Availability is greater than 50% of the Revolver
Commitment. 
 Availability Reserve: the sum (without duplication) of: 

(a) the Inventory Reserve; 
 (b) the Rent and Charges Reserve; 
 (c) the LC Reserve; 

(d) the Bank Product Reserve; 
 (e) all accrued Royalties (if any), whether or not then due and payable by a Borrower, arising under any license or agreement under which a Borrower is authorized to use Intellectual Property in
connection with any manufacture, marketing, distribution or disposition of Collateral; 
 (f) the aggregate
amount of liabilities secured by: (i) Liens upon Revolver Priority Collateral that are senior to Agent’s Liens, and (ii) Liens (other than Permitted Liens) upon any other Collateral that are senior to Agent’s Liens; but in each
case, imposition of any such reserve shall not waive an Event of Default arising therefrom; 
 (g) the Dilution
Reserve; 
 (h) the Litigation Reserve; 

(i) reserves on account of Canadian engineering certifications; 

(j) all sales, excise or similar taxes included in the amount of any Accounts reported to Agent; 

(k) the Availability Block; 
 (l) the Fly Ash Commission Reserve; and 
 (m) such additional
reserves, in such amounts and with respect to such matters, as Agent in its Credit Judgment may elect to impose from time to time. 

  
 3 

 Bank of America: Bank of America, N.A., a national banking association, and its
successors and assigns. 
 Bank of America Indemnitees: Bank of America and its officers, directors, employees,
Affiliates, agents and attorneys. 
 Bank Product: any of the following products, services or facilities extended to any
Borrower or Guarantor by any Lender or any of its Affiliates: (a) Cash Management Services; (b) products under Hedging Agreements; (c) commercial credit card and merchant card services; (d) electronic business-to-business payment
and financing systems; and (e) other banking products or services as may be requested by any Borrower or Subsidiary, other than (i) loans, (ii) Letters of Credit and (iii) equipment leases and services and obligations related
thereto; provided, however, that for any of the foregoing to be included as an “Obligation” for purposes of a distribution under Section 5.6.1, the applicable Secured Party and Obligor must have previously
(i) provided written notice to Agent of (A) the existence of such Bank Product, (B) the maximum dollar amount of obligations arising thereunder to be included as part of the Bank Product Reserve (“Bank Product
Amount”), and (C) the methodology to be used by such parties in determining the Bank Product Debt owing from time to time and (ii) received Agent’s approval of such Bank Product Amount. The Bank Product Amount may be changed
from time to time, with Agent’s consent, upon written notice to Agent by the Secured Party and Obligor. 
 Bank Product
Amount: as defined in the definition of Bank Product. 
 Bank Product Debt: Debt and other obligations of a Borrower
or Guarantor relating to Bank Products. 
 Bank Product Reserve: the aggregate amount of reserves established by Agent
from time to time in its discretion in respect of Bank Product Debt, which shall be at least equal to the sum of all Bank Product Amounts. 
 Bankruptcy Code: Title 11 of the United States Code. 
 Base Rate:
for any day, a per annum rate equal to the greatest of (a) the Prime Rate for such day; (b) the Federal Funds Rate for such day, plus 0.50%; or (c) LIBOR for a 30 day interest period as determined on such day, plus 1.0%.

 Base Rate Loan: any Loan that bears interest based on the Base Rate. 

Base Rate Revolver Loan: a Revolver Loan that bears interest based on the Base Rate. 

Board of Governors: the Board of Governors of the Federal Reserve System. 

Borrowed Money: with respect to any Obligor, without duplication, its (a) Debt that (i) arises from the lending of money
by any Person to such Obligor, (ii) is evidenced by notes, drafts, bonds, debentures, credit documents or similar instruments, (iii) accrues interest or is a type upon which interest charges are customarily paid (excluding trade payables
owing in the Ordinary Course of Business), or (iv) was issued or assumed as full or partial payment for Property; (b) Capital Leases; (c) reimbursement obligations with respect to letters of credit; and (d) guaranties of any Debt
of the foregoing types owing by another Person. 
 Borrower Agent: as defined in Section 4.4. 

  
 4 

 Borrower Groups: each of the Eldorado Group, the HRI Group, the SCP Group, and the
Tapco Group. 
 Borrowing: a group of Loans of one Type that are made on the same day or are converted into Loans of one
Type on the same day. 
 Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the
aggregate amount of Revolver Commitments, minus the LC Reserve, minus the Litigation Reserve, minus the Availability Block minus the Fly Ash Reserve; or (b) the sum of the HRI Borrowing Base, plus the Tapco
Borrowing Base, plus the Eldorado Borrowing Base, plus the SCP Borrowing Base, minus the Availability Reserve. 
 Borrowing Base Certificate: a certificate, in form and substance satisfactory to Agent, by which Borrowers certify calculation of the Borrowing Base. 

Boynton Litigation: Phillip E. Boynton, et al., v. Headwaters Incorporated, U.S.D.C., Western Dist. TN, no.
1:02-cv-01111-JPM-egb, including any appellate proceedings therefrom. 
 Business Day: any day other than a Saturday,
Sunday or other day on which commercial banks are authorized to close under the laws of, or are in fact closed in, North Carolina and California, and if such day relates to a LIBOR Loan, any such day on which dealings in Dollar deposits are
conducted between banks in the London interbank Eurodollar market. 
 Capital Expenditures: all liabilities incurred,
expenditures made or payments due (whether or not made) by Parent or Subsidiary of Parent for the acquisition of any fixed assets, or any improvements, replacements, substitutions or additions thereto with a useful life of more than one year,
including the principal portion of Capital Leases. For the purpose of this definition, the purchase price of Property which is acquired simultaneously with the trade-in of existing Property owned by such Person or any of its Subsidiaries or with
insurance proceeds shall be included in Capital Expenditures only to the extent of the gross amount of such purchase price less the credit granted by the seller of such Property being traded in at such time or the amount of such proceeds, as the
case may be. 
 Capital Lease: any lease that is required to be capitalized for financial reporting purposes in
accordance with GAAP. 
 Cash Collateral: cash that is delivered to Agent to Cash Collateralize any Obligations and any
interest or other income earned on such cash. 
 Cash Collateral Account: a demand deposit, money market or other account
established by Agent at such financial institution as Agent may select in its discretion, which account shall be subject to Agent’s Liens for the benefit of Secured Parties. 

Cash Collateralize: the delivery of cash to Agent, as security for the payment of Obligations, in an amount equal to (a) with
respect to LC Obligations, 105% of the aggregate LC Obligations, and (b) with respect to any inchoate, contingent or other Obligations (including Obligations arising under Bank Products), Agent’s good faith estimate of the amount due or to
become due, including all fees and other amounts relating to such Obligations. “Cash Collateralization” has a correlative meaning. 
 Cash Equivalents: (a) marketable obligations issued or unconditionally guaranteed by, and backed by the full faith and credit of, the United States government, maturing within 12 months of the
date of acquisition; (b) certificates of deposit, time deposits and bankers’ acceptances maturing within 12 months 

  
 5 

 
of the date of acquisition, and overnight bank deposits, in each case which are issued by a commercial bank organized under the laws of the United States or any state or district thereof, rated
A-1 (or better) by S&P or P-1 (or better) by Moody’s at the time of acquisition, and (unless issued by a Lender) not subject to offset rights; (c) repurchase obligations with a term of not more than 30 days for underlying investments
of the types described in clauses (a) and (b) entered into with any bank meeting the qualifications specified in clause (b); (d) commercial paper rated A-1 (or better) by S&P or P-1 (or better) by Moody’s, and maturing within
nine months of the date of acquisition; and (e) shares of any money market fund that has substantially all of its assets invested continuously in the types of investments referred to above, has net assets of at least $500,000,000 and has the
highest rating obtainable from either Moody’s or S&P. 
 Cash Management Services: any services provided from
time to time by any Lender or any of its Affiliates to any Borrower or Guarantor in connection with operating, collections, payroll, trust, or other depository or disbursement accounts, including automated clearinghouse, e-payable, electronic funds
transfer, wire transfer, controlled disbursement, overdraft, depository, information reporting, lockbox and stop payment services. 
 CERCLA: the Comprehensive Environmental Response Compensation and Liability Act (42 U.S.C. § 9601 et seq.). 

Change in Law: the occurrence, after the date hereof, of (a) the adoption or taking effect of any law, rule, regulation or
treaty; (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority; or (c) the making or issuance of any request, guideline or directive (whether or
not having the force of law) by any Governmental Authority. 
 Change of Control: (a) a majority of the board of
directors of Parent fails to consist of Continuing Directors, (b) any “person” or “group” (within the meaning of Sections 13(d) and 14(d) of the Securities Exchange Act of 1934) becomes the “beneficial owner” (as
defined in Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of 35%, or more, of the Equity Interests of Parent having the right to vote for the election of members of the board of directors of Parent, (c) other
than pursuant to a transaction permitted under Section 10.2.9, Parent fails to own and control, directly or indirectly, 100% of the Equity Interests of each Borrower and each Guarantor (other than Parent), or (d) any “change of
control” occurs under the Senior Secured Notes Documents. 
 Claims: all liabilities, obligations, losses, damages,
penalties, judgments, proceedings, interest, costs and expenses of any kind (including remedial response costs, reasonable attorneys’ fees and Extraordinary Expenses) at any time (including after Full Payment of the Obligations, resignation or
replacement of Agent, or replacement of any Lender) incurred by or asserted against any Indemnitee in any way relating to (a) any Loans, Letters of Credit, Loan Documents, or the use thereof or transactions relating thereto, (b) any action
taken or omitted to be taken by any Indemnitee in connection with any Loan Documents, (c) the existence or perfection of any Liens, or realization upon any Collateral, (d) exercise of any rights or remedies under any Loan Documents or
Applicable Law, or (e) failure by any Obligor to perform or observe any terms of any Loan Document, in each case including all costs and expenses relating to any investigation, litigation, arbitration or other proceeding (including an
Insolvency Proceeding or appellate proceedings), whether or not the applicable Indemnitee is a party thereto. 
 Closing
Date: as defined in Section 6.1. 
 Code: the Internal Revenue Code of 1986. 

  
 6 

 Collateral: all Property described in Section 7.1, all Property described
in any Security Documents as security for any Obligations, and all other Property that now or hereafter secures (or is intended to secure) any Obligations. 
 Commitment: for any Lender, the aggregate amount of such Lender’s Revolver Commitment. “Commitments” means the aggregate amount of all Revolver Commitments. 

Commitment Termination Date: the earliest to occur of (a) the Revolver Termination Date; (b) the date on which Borrowers
terminate the Revolver Commitments pursuant to Section 2.1.4; or (c) the date on which the Revolver Commitments are terminated pursuant to Section 11.2. 

Compliance Certificate: a certificate, in form and substance satisfactory to Agent, by which Borrowers certify compliance with
Sections 10.2.3, 10.2.4(a) and 10.3, and calculate the applicable Level for the Applicable Margin (as set forth in the definition thereof). 
 Consolidated Borrowed Money: with respect to Parent and each of its Subsidiaries, without duplication, their (a) Debt that (i) arises from the lending of money by any Person to Parent or
any of its Subsidiaries, (ii) is evidenced by notes, drafts, bonds, debentures, credit documents or similar instruments, (iii) accrues interest or is a type upon which interest charges are customarily paid (excluding trade payables owing
in the Ordinary Course of Business), or (iv) was issued or assumed as full or partial payment for Property; (b) Capital Leases; (c) reimbursement obligations with respect to letters of credit; and (d) guaranties of any Debt of
the foregoing types owing by another Person, all determined on a consolidated basis in accordance with GAAP. 
 Consolidated
Rent Expense: with reference to any period, the Rentals of Parent and its Subsidiaries calculated on a consolidated basis for such period in accordance with GAAP. 
 Contingent Obligation: any obligation of a Person arising from a guaranty, indemnity or other assurance of payment or performance of any Debt, lease, dividend or other obligation (“primary
obligations”) of another obligor (“primary obligor”) in any manner, whether directly or indirectly, including any obligation of such Person under any (a) guaranty, endorsement, co-making or sale with recourse of an
obligation of a primary obligor; (b) obligation to make take-or-pay or similar payments regardless of nonperformance by any other party to an agreement; and (c) arrangement (i) to purchase any primary obligation or security therefor,
(ii) to supply funds for the purchase or payment of any primary obligation, (iii) to maintain or assure working capital, equity capital, net worth or solvency of the primary obligor, (iv) to purchase Property or services for the
purpose of assuring the ability of the primary obligor to perform a primary obligation, or (v) otherwise to assure or hold harmless the holder of any primary obligation against loss in respect thereof. The amount of any Contingent Obligation
shall be deemed to be the stated or determinable amount of the primary obligation (or, if less, the maximum amount for which such Person may be liable under the instrument evidencing the Contingent Obligation) or, if not stated or determinable, the
maximum reasonably anticipated liability with respect thereto. 
 Continuing Director: with respect to any Person as of
any date of determination, any member of the board of directors of such Person who (i) was a member of such board of directors on the Closing Date, or (ii) was nominated for election or elected to such board of directors with the approval
of the required majority of the Continuing Directors who were members of such board at the time of such nomination or election; provided that any individual who is so elected or nominated in connection with a merger, consolidation,
acquisition or similar transaction shall not be a Continuing Director unless such individual was a Continuing Director prior thereto. 

  
 7 

 Credit Judgment: Agent’s judgment exercised in good faith, based upon its
consideration of any factor that it believes (a) could adversely affect the quantity, quality, mix or value of Collateral (including any Applicable Law that may inhibit collection of an Account), the enforceability or priority of Agent’s
Liens, or the amount that Agent and Lenders could receive in liquidation of any Collateral; (b) suggests that any collateral report or financial information delivered by any Obligor is incomplete, inaccurate or misleading in any material
respect; (c) materially increases the likelihood of any Insolvency Proceeding involving an Obligor; or (d) creates or could result in a Default or Event of Default. In exercising such judgment, Agent may consider any factors that could
increase the credit risk of lending to Borrowers on the security of the Collateral. 
 CWA: the Clean Water Act (33
U.S.C. §§ 1251 et seq.). 
 Debt: as applied to any Person, without duplication, (a) all
items that would be included as liabilities on a balance sheet in accordance with GAAP, including Capital Leases, but excluding trade payables incurred and being paid in the Ordinary Course of Business; (b) all Contingent Obligations;
(c) all reimbursement obligations in connection with letters of credit issued for the account of such Person; and (d) in the case of a Borrower, the Obligations. The Debt of a Person shall include any recourse Debt of any partnership in
which such Person is a general partner or joint venturer. 
 Default: an event or condition that, with the lapse of time
or giving of notice, would constitute an Event of Default. 
 Default Rate: for any Obligation (including, to the extent
permitted by law, interest not paid when due), 2% plus the interest rate otherwise applicable thereto. 
 Defaulting
Lender: any Lender that (a) fails to make any payment or provide funds to Agent or any Borrower as required hereunder or fails otherwise to perform its obligations under any Loan Document, and such failure is not cured within one Business
Day, or (b) is the subject of any Insolvency Proceeding. 
 Deposit Account Control Agreements: the Deposit Account
control agreements, in each case, in form and substance satisfactory to Agent, to be executed by each institution maintaining a Deposit Account for a Borrower of Guarantor, in favor of Agent, for the benefit of Secured Parties, as security for the
Obligations. 
 Designated Account: the Deposit Account of Borrowers as directed by Borrower Agent to Agent in writing
from time to time. 
 Dilution Reserve: as of any date of determination, the sum of the Eldorado Dilution Reserve,
plus the HRI Dilution Reserve, plus the SCP Dilution Reserve, plus the Tapco Dilution Reserve. 

Distribution: any declaration or payment of a distribution, interest or dividend on any Equity Interest (other than
payment-in-kind); any distribution, advance or repayment of Debt to a holder of Equity Interests; or any purchase, redemption, or other acquisition or retirement for value of any Equity Interest. 

Dollars: lawful money of the United States. 
 Domestic Subsidiary: a Subsidiary that is organized or incorporated under the laws of the United States of America, any state of the United States of America, or the District of Columbia.

  
 8 

 Dominion Account: one or more special accounts established by Borrowers at Bank of
America or another bank acceptable to Agent, over which Agent has exclusive control for withdrawal purposes at all times after a Dominion Trigger Event. 
 Dominion Trigger Period: the period (a) commencing on the day that an Event of Default occurs, or Excess Availability is less than $25,000,000 at any time; and (b) continuing until,
during the preceding three (3) calendar months, no Event of Default has existed and Excess Availability has been greater than $25,000,000 at all times. 
 EBITDAR: determined on a consolidated basis for Parent and its Subsidiaries, the sum of (a) net income, calculated before interest expense, expense or benefit for income taxes, depreciation
and amortization expense, gains or losses arising from the sale of capital assets, gains arising from the write-up of assets, any extraordinary gains, and any non-cash income (in each case, to the extent included in determining net income),
plus (b) Consolidated Rent Expense plus (c) any non-cash charges, losses or expenses of Parent and its Subsidiaries for such period (but excluding any non-cash charge, loss or expense in respect of an item that was included
in net income in a prior period and any non-cash charge, loss or expense that relates to the write-down or write-off of inventory, other than any write-down or write-off of inventory as a result of purchase accounting adjustments in respect of any
Permitted Acquisition). 
 Eldorado Borrowing Base: on any date of determination, an amount equal to the sum of
(a) 85% of the Value of Eldorado Eligible Accounts, plus (b) the lesser of (i) 65% of the Value of Eldorado Eligible Inventory; or (ii) 85% of the NOLV Percentage of the Value of Eldorado Eligible Inventory. 

Eldorado Dilution Percent: the percent, determined for the immediately prior 90 or 365 consecutive days (at Agent’s option),
equal to (a) bad debt write-downs or write-offs, discounts, returns, promotions, credits, credit memos and other dilutive items with respect to Accounts of the Eldorado Group, divided by (b) gross sales of the Eldorado Group.

 Eldorado Dilution Reserve: as of any date of determination, an amount sufficient to reduce the advance rate against
Eldorado Eligible Accounts by the percentage points (rounded to the nearest 1/10 of 1%) by which the Eldorado Dilution Percent is in excess of 5.0%. 
 Eldorado Eligible Account: an Account owing to any Borrower in the Eldorado Group that arises in the Ordinary Course of Business from the sale of goods or rendition of services, is payable in
Dollars and is deemed by Agent, in its Credit Judgment, to be an Eldorado Eligible Account. Without limiting the foregoing, no such Account shall be an Eldorado Eligible Account if: 

(a) it is unpaid for more than 60 days after the original due date, or more than 90 days after the original invoice date;

 (b) 50% or more of the Accounts owing by the Account Debtor to Borrowers in the Eldorado Group are not
Eldorado Eligible Accounts under the foregoing clause; 
 (c) when aggregated with other Accounts owing by the
Account Debtor to Borrowers in the Eldorado Group, it exceeds 15% of the aggregate Eldorado Eligible Accounts (or such higher percentage as the Required Lenders may establish for the Account Debtor from time to time); 

(d) it does not conform with a covenant or representation herein; 

  
 9 

 (e) it is subject to a potential offset, counterclaim, dispute, deduction,
discount (other than an early-pay discount offered as part of normal-course selling terms), recoupment, reserve, defense, chargeback, credit or allowance by the Account Debtor, whether it is a creditor, a supplier or otherwise (but ineligibility
shall be limited to the amount thereof); 
 (f) an Insolvency Proceeding has been commenced by or against the
Account Debtor; or the Account Debtor has failed, has suspended or ceased doing business, is liquidating, dissolving or winding up its affairs, or is not Solvent; or the applicable Borrower is not able to bring suit or enforce remedies against the
Account Debtor through judicial process; 
 (g) the Account Debtor is organized or has its principal offices or
assets outside the United States or Canada unless (i) such Account is supported by an irrevocable letter of credit satisfactory to Agent (as to form, substance, and issuer or domestic confirming bank); and (ii) such letter of credit has
been delivered to Agent and is directly drawable by Agent; 
 (h) it is owing by a Government Authority, unless
the Account Debtor is the United States or any State, department, agency or instrumentality thereof and the Assignment of Claims Act or any similar State or local law, if applicable, has been complied with in a manner satisfactory to Agent;

 (i) it is not subject to a duly perfected, first priority Lien in favor of Agent, or is subject to any Lien
other than a Permitted Lien which has been explicitly disclosed to Agent in writing; 
 (j) the goods giving rise
to it have not been delivered to and accepted by the Account Debtor, the services giving rise to it have not been accepted by the Account Debtor, or it otherwise does not represent a final sale; 

(k) it is evidenced by Chattel Paper or an Instrument of any kind, or has been reduced to judgment; 

(l) its payment has been extended, the Account Debtor has made a partial payment, or it arises from a sale on a
cash-on-delivery basis; 
 (m) it arises from a sale to an Affiliate, from a sale on a bill-and-hold, guaranteed
sale, sale-or-return, sale-on-approval, consignment, or other repurchase or return basis, or from a sale to a Person for personal, family or household purposes; 
 (n) it represents a progress billing or retainage; or 
 (o) it
includes a billing for interest, fees or late charges, but ineligibility shall be limited to the extent thereof. 
 In
calculating delinquent portions of Accounts under clauses (a) and (b), credit balances more than 90 days old will be excluded. 
 Eldorado Eligible Inventory: Inventory owned by any Borrower in the Eldorado Group that Agent, in its Credit Judgment, deems to be Eldorado Eligible Inventory. Without limiting the foregoing, no
such Inventory shall be Eldorado Eligible Inventory unless it: 

  
 10 

 (a) is finished goods or raw materials, and not work-in-process, packaging
or shipping materials, labels, samples, display items, bags, replacement parts or manufacturing supplies; 
 (b)
is not held on consignment, nor subject to any deposit or downpayment; 
 (c) is in new and saleable condition
and is not damaged, defective, shopworn or otherwise unfit for sale; 
 (d) is not slow-moving, obsolete or
unmerchantable, and does not constitute returned or repossessed goods; 
 (e) meets all standards imposed by any
Governmental Authority, and does not constitute hazardous materials under any Environmental Law; 
 (f) conforms
with the covenants and representations herein; 
 (g) is subject to Agent’s duly perfected, first priority
Lien, and no other Lien other than Permitted Liens which have been explicitly disclosed to Agent in writing; 

(h) is within the continental United States, is not in transit except between locations of Borrowers, and is not consigned
to any Person; 
 (i) is not subject to any warehouse receipt or negotiable Document; 

(j) is not subject to any License or other arrangement that restricts such Borrower’s or Agent’s right to
dispose of such Inventory, unless Agent has received an appropriate Lien Waiver; 
 (k) is not located on leased
premises or in the possession of a warehouseman, processor, repairman, mechanic, shipper, freight forwarder or other Person, unless the lessor or such Person has delivered a Lien Waiver or an appropriate Rent and Charges Reserve has been
established; 
 (l) does not consist of molds or pallets; 

(m) is not currently contemplated to be written off by the applicable Borrower; and 

(n) is reflected in the details of a current perpetual inventory report. 

Eldorado Group: collectively, HCM Stone, LLC, a Utah limited liability company, Dutch Quality Stone, Inc., an Ohio corporation,
Eldorado SC-Acquisition Co., a Utah corporation, Eldorado G-Acquisition Co., a Utah corporation, Eldorado Stone LLC, a Delaware limited liability company, Eldorado Stone Acquisition Co., LLC, a Utah limited liability company, Eldorado Stone Funding
Co., LLC, a Utah limited liability company, Stonecraft Manufacturing, LLC, an Ohio limited liability company, Chihuahua Stone, LLC, a Utah limited liability company, Eldorado Stone Operations, LLC, a Utah limited liability company, and L-B Stone,
LLC, a Utah limited liability company. 
 Eligible Accounts: collectively, the Eldorado Eligible Accounts, the HRI
Eligible Accounts, the SCP Eligible Accounts, and the Tapco Eligible Accounts. 

  
 11 

 Eligible Assignee: a Person that is (a) a Lender, U.S.-based Affiliate of a
Lender or Approved Fund; (b) any other financial institution approved by Agent and Borrower Agent (which approval by Agent or Borrower Agent shall not be unreasonably withheld or delayed, and shall be deemed given if no objection is made within
three Business Days after notice of the proposed assignment), that is organized under the laws of the United States or any state or district thereof, has total assets in excess of $5 billion, extends asset-based lending facilities in its ordinary
course of business and whose becoming an assignee would not constitute a prohibited transaction under Section 4975 of the Code or any other Applicable Law; and (c) during any Event of Default, any Person commercially reasonably acceptable
to Agent in its discretion. 
 Eligible Inventory: collectively, the Eldorado Eligible Inventory, the SCP Eligible
Inventory, and the Tapco Eligible Inventory. 
 Enforcement Action: any action to enforce any Obligations or Loan
Documents or to realize upon any Collateral (whether by judicial action, self-help, notification of Account Debtors, exercise of setoff or recoupment, or otherwise). 
 Environmental Agreement: each agreement of Borrowers and Guarantors with respect to any Real Estate subject to a Mortgage, pursuant to which Borrowers and Guarantors, as applicable, agree to
indemnify and hold harmless Agent and Lenders from liability under any Environmental Laws. 
 Environmental Laws: all
Applicable Laws (including all programs, permits and guidance promulgated by regulatory agencies), relating to public health (but excluding occupational safety and health, to the extent regulated by OSHA) or the protection or pollution of the
environment, including CERCLA, RCRA and CWA. 
 Environmental Notice: a written notice from any Governmental Authority of
any possible noncompliance with, investigation of a possible violation of, litigation relating to, or potential fine or liability under any Environmental Law, or with respect to any Environmental Release, environmental pollution or hazardous
materials, including any complaint, summons, citation, order, claim, demand or request for correction, remediation or otherwise. 
 Environmental Release: a release as defined in CERCLA or under any other Environmental Law. 
 Equity Interest: the interest of any (a) shareholder in a corporation; (b) partner in a partnership (whether general, limited, limited liability or joint venture); (c) member in a
limited liability company; or (d) other Person having any other form of equity security or ownership interest in any other Person. 
 ERISA: the Employee Retirement Income Security Act of 1974. 
 ERISA
Affiliate: any trade or business (whether or not incorporated) under common control with an Obligor within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions
relating to Section 412 of the Code). 
 ERISA Event: (a) a Reportable Event with respect to a Pension Plan;
(b) a withdrawal by any Obligor or ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations
that is treated as such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by any Obligor or ERISA Affiliate from a Multiemployer Plan or notification to the Multiemployer Plan that such plan is in
reorganization; (d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Section 4041 or 4041A of ERISA, or the 

  
 12 

 
commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) any Obligor or ERISA Affiliate fails to meet any minimum funding obligations with respect to
any Pension Plan or Multiemployer Plan, or requests a minimum funding waiver; (f) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any
Pension Plan or Multiemployer Plan; or (g) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon any Obligor or ERISA Affiliate. 

Event of Default: as defined in Section 11. 
 Excess Availability: as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrowers and Guarantors unpaid for more
than 60 days after the original invoice date and all book overdrafts of Borrowers and Guarantors, in each case as determined by Agent in its Credit Judgment. 
 Excluded Tax: with respect to Agent, any Lender, Issuing Bank or any other recipient of a payment to be made by or on account of any Obligation, (a) Taxes imposed on or measured by its overall
net income (however denominated), and franchise taxes imposed on it (in lieu of net income taxes), by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized or in which its principal office is
located or, in the case of any Lender, in which its applicable Lending Office is located; (b) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which Borrower Agent is located;
(c) any backup withholding tax required by the Code to be withheld from amounts payable to a Lender that has failed to comply with Section 5.10; and (d) in the case of a Foreign Lender, any United States withholding tax that is
(i) required pursuant to laws in force at the time such Lender becomes a Lender (or designates a new Lending Office) hereunder, or (ii) attributable to such Lender’s failure or inability (other than as a result of a Change in Law) to
comply with Section 5.10, except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new Lending Office (or assignment), to receive additional amounts from Borrowers with respect
to such withholding tax. 
 Exempt Property: (i) in the case of the Real Estate, all such Real Estate other than the
Real Estate Collateral, (ii) all vehicles and other Collateral subject to state certificate of title statutes, (iii) all Deposit Accounts which are not maintained with the Agent and that with respect to which Deposit Account Control
Agreements are not required to be entered into in accordance with Section 8.5, and (iv) the Equity Interests in FlexCrete Building Systems, L.C., a Utah limited liability company. 

Existing Credit Agreement: the Credit Agreement dated as of September 8, 2004, by and among Parent, as the borrower, the
lenders party thereto, Morgan Stanley Senior Funding, Inc., as administrative agent, Morgan Stanley & Co. Incorporated, as collateral agent, and JPMorgan Chase Bank, as syndication agent. 

Extraordinary Expenses: all costs, expenses or advances that Agent or any Lender may incur during a Default or Event of Default,
or during the pendency of an Insolvency Proceeding of a Borrower or Guarantor, in each case, including those relating to (a) any audit, inspection, repossession, storage, repair, appraisal, insurance, manufacture, preparation or advertising for
sale, sale, collection, or other preservation of or realization upon any Collateral; (b) any action, arbitration or other proceeding (whether instituted by or against Agent, any Lender, any Obligor, any representative of creditors of an Obligor
or any other Person) in any way relating to any Collateral (including the validity, perfection, priority or avoidability of Agent’s Liens with respect to any Collateral), Loan Documents, Letters of Credit or Obligations, including any lender
liability or other Claims; (c) the exercise, protection or enforcement of any rights or remedies of Agent or any Lender in, or the monitoring of, any Insolvency Proceeding; (d)

  
 13 

 
settlement or satisfaction of any taxes, charges or Liens with respect to any Collateral; (e) any Enforcement Action; (f) negotiation and documentation of any modification, waiver,
workout, restructuring or forbearance with respect to any Loan Documents or Obligations; and (g) Protective Advances. Such costs, expenses and advances include transfer fees, Other Taxes, storage fees, insurance costs, permit fees, utility
reservation and standby fees, legal fees, appraisal fees, brokers’ fees and commissions, auctioneers’ fees and commissions, accountants’ fees, environmental study fees, wages and salaries paid to employees of any Obligor or
independent contractors in liquidating any Collateral, and travel expenses. 
 Federal Funds Rate: (a) the weighted
average of interest rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers on the applicable Business Day (or on the preceding Business Day, if the applicable day is not a Business
Day), as published by the Federal Reserve Bank of New York on the next Business Day; or (b) if no such rate is published on the next Business Day, the average rate (rounded up, if necessary, to the nearest 1/8 of 1%) charged to Bank of America
on the applicable day on such transactions, as determined by Agent. 
 Fee Letter: the fee letter agreement between Agent
and Borrowers. 
 Fiscal Quarter: each period of three months, commencing on the first day of a Fiscal Year. 

Fiscal Year: the fiscal year of Borrowers and Subsidiaries for accounting and tax purposes, ending on September 30 of each
year. 
 Fixed Charge Coverage Ratio: the ratio, determined on a consolidated basis for Parent and Parent’s
Subsidiaries for the most recent twelve calendar months, of (a) EBITDAR minus Capital Expenditures (except those financed with Consolidated Borrowed Money other than Revolver Loans) and cash taxes paid, to (b) Fixed Charges,
plus Consolidated Rent Expense. 
 Fixed Charges: the sum of cash interest paid or scheduled to be paid, principal
payments made or scheduled to be made on Consolidated Borrowed Money (other than repayments of the Revolver Loans), and Distributions made. 
 FLSA: the Fair Labor Standards Act of 1938. 
 Fly Ash Commission
Reserve: as of any date of determination, an amount equal to (a) $2,000,000 plus (b) the amount of all commissions owing by any Borrower on account of any fly ash products sold by any Borrower that are unpaid for more than 45
days after the original due date. 
 Foreign Lender: any Lender that is organized under the laws of a jurisdiction other
than the laws of the United States, or any state or district thereof. 
 Foreign Plan: any employee benefit plan or
arrangement (a) maintained or contributed to by any Obligor or Subsidiary that is not subject to the laws of the United States; or (b) mandated by a government other than the United States for employees of any Obligor or Subsidiary.

 Foreign Subsidiary: a Subsidiary that is a “controlled foreign corporation” under Section 957 of the
Code, such that a guaranty by such Subsidiary of the Obligations or a Lien on the assets of such Subsidiary to secure the Obligations would result in material tax liability to Borrowers. 

Full Payment: with respect to any Obligations, (a) the full and indefeasible cash payment thereof, including any interest,
fees and other charges accruing during an Insolvency Proceeding (whether or not 

  
 14 

 
allowed in the proceeding); (b) if such Obligations are LC Obligations or inchoate or contingent in nature, Cash Collateralization thereof (or delivery of a standby letter of credit
acceptable to Agent in its discretion, in the amount of required Cash Collateral); and (c) a release of any Claims of Obligors against Agent, Lenders and Issuing Bank arising on or before the payment date. No Loans shall be deemed to have been
paid in full until all Commitments related to such Loans have expired or been terminated. 
 GAAP: generally accepted
accounting principles in effect in the United States from time to time. 
 Governmental Approvals: all authorizations,
consents, approvals, licenses and exemptions of, registrations and filings with, and required reports to, all Governmental Authorities. 
 Governmental Authority: any federal, state, municipal, foreign or other governmental department, agency, commission, board, bureau, court, tribunal, instrumentality, political subdivision, or other
entity or officer exercising executive, legislative, judicial, regulatory or administrative functions for or pertaining to any government or court, in each case whether associated with the United States, a state, district or territory thereof, or a
foreign entity or government. 
 Guarantor Payment: as defined in Section 5.11.3. 

Guarantors: Parent, and each Person who guarantees payment or performance of any Obligations. 

Guaranty: each guaranty agreement executed by a Guarantor in favor of Agent. 

Hedging Agreement: an agreement relating to any swap, cap, floor, collar, option, forward, cross right or obligation, or
combination thereof or similar transaction, with respect to interest rate, foreign exchange, currency, commodity, credit or equity risk. 
 HRI Borrowing Base: on any date of determination, an amount equal to 85% of the Value of HRI Eligible Accounts. 
 HRI Dilution Percent: the percent, determined for the immediately prior 90 or 365 consecutive days (at Agent’s option), equal to (a) bad debt write-downs or write-offs, discounts,
returns, promotions, credits, credit memos and other dilutive items with respect to Accounts of the HRI Group, divided by (b) gross sales of the HRI Group. 
 HRI Dilution Reserve: as of any date of determination, an amount sufficient to reduce the advance rate against HRI Eligible Accounts by the percentage points (rounded to the nearest 1/10 of 1%) by
which the HRI Dilution Percent is in excess of 5.0%. 
 HRI Eligible Account: an Account owing to any Borrower in the HRI
Group that arises in the Ordinary Course of Business from the sale of goods or rendition of services, is payable in Dollars and is deemed by Agent, in its Credit Judgment, to be a HRI Eligible Account. Without limiting the foregoing, no such Account
shall be a HRI Eligible Account if: 
 (a) it is unpaid for more than 60 days after the original due date, or
more than 90 days after the original invoice date; 
 (b) 50% or more of the Accounts owing by the Account Debtor
to Borrowers in the HRI Group are not HRI Eligible Accounts under the foregoing clause; 

  
 15 

 (c) when aggregated with other Accounts owing by the Account Debtor to
Borrowers in the HRI Group, it exceeds 15% of the aggregate HRI Eligible Accounts (or such higher percentage as the Required Lenders may establish for the Account Debtor from time to time); 

(d) it does not conform with a covenant or representation herein; 

(e) it is subject to a potential offset, counterclaim, dispute, deduction, discount (other than an early-pay discount
offered as part of normal-course selling terms), recoupment, reserve, defense, chargeback, credit or allowance by the Account Debtor, whether it is a creditor, a supplier or otherwise (but ineligibility shall be limited to the amount thereof);

 (f) an Insolvency Proceeding has been commenced by or against the Account Debtor; or the Account Debtor has
failed, has suspended or ceased doing business, is liquidating, dissolving or winding up its affairs, or is not Solvent; or the applicable Borrower is not able to bring suit or enforce remedies against the Account Debtor through judicial process;

 (g) the Account Debtor is organized or has its principal offices or assets outside the United States or Canada
unless (i) such Account is supported by an irrevocable letter of credit satisfactory to Agent (as to form, substance, and issuer or domestic confirming bank); and (ii) such letter of credit has been delivered to Agent and is directly
drawable by Agent; 
 (h) it is owing by a Government Authority, unless the Account Debtor is the United States
or any State, department, agency or instrumentality thereof and the Assignment of Claims Act or any similar State or local law, if applicable, has been complied with in a manner satisfactory to Agent; 

(i) it is not subject to a duly perfected, first priority Lien in favor of Agent, or is subject to any Lien other than a
Permitted Lien which has been explicitly disclosed to Agent in writing; 
 (j) the goods giving rise to it have
not been delivered to and accepted by the Account Debtor, the services giving rise to it have not been accepted by the Account Debtor, or it otherwise does not represent a final sale; 

(k) it is evidenced by Chattel Paper or an Instrument of any kind, or has been reduced to judgment; 

(l) its payment has been extended, the Account Debtor has made a partial payment, or it arises from a sale on a
cash-on-delivery basis; 
 (m) it arises from a sale to an Affiliate, from a sale on a bill-and-hold, guaranteed
sale, sale-or-return, sale-on-approval, consignment, or other repurchase or return basis, or from a sale to a Person for personal, family or household purposes; 
 (n) it represents a progress billing or retainage; or 
 (o) it
includes a billing for interest, fees or late charges, but ineligibility shall be limited to the extent thereof. 

  
 16 

 In calculating delinquent portions of Accounts under clauses (a) and (b), credit
balances more than 90 days old will be excluded. 
 HRI Group: collectively, Headwaters Resources, Inc., a Utah
corporation, and Headwaters Services Corporation, a Utah corporation. 
 Indemnified Taxes: Taxes other than Excluded
Taxes. 
 Indemnitees: Agent Indemnitees, Lender Indemnitees, Issuing Bank Indemnitees and Bank of America Indemnitees.

 Insolvency Proceeding: any case or proceeding commenced by or against a Person under any state, federal or foreign law
for, or any agreement of such Person to, (a) the entry of an order for relief under the Bankruptcy Code, or any other insolvency, debtor relief or debt adjustment law; (b) the appointment of a receiver, trustee, liquidator, administrator,
conservator or other custodian for such Person or any part of its Property; or (c) an assignment or trust mortgage for the benefit of creditors. 
 Intellectual Property: all intellectual and similar Property of a Person, including inventions, designs, patents, copyrights, trademarks, service marks, trade names, trade secrets, confidential or
proprietary information, customer lists, know-how, software and databases; all embodiments or fixations thereof and all related documentation, applications, registrations and franchises; all licenses or other rights to use any of the foregoing; and
all books and records relating to the foregoing. 
 Intellectual Property Claim: any claim or assertion (whether in
writing, by suit or otherwise) that a Borrower’s or Subsidiary’s ownership, use, marketing, sale or distribution of any Inventory, Equipment, Intellectual Property or other Property violates another Person’s Intellectual Property.

 Intercreditor Agreement: the Intercreditor Agreement of even date herewith, between the Senior Secured Notes
Collateral Agent and the Agent. 
 Interest Period: as defined in Section 3.1.3. 

Inventory: as defined in the UCC, including all goods intended for sale, lease, display or demonstration; all work in process; and
all raw materials, and other materials and supplies of any kind that are or could be used in connection with the manufacture, printing, packing, shipping, advertising, sale, lease or furnishing of such goods, or otherwise used or consumed in a
Borrower’s business (but excluding Equipment). 
 Inventory Reserve: reserves established by Agent in its Credit
Judgment to reflect factors that may negatively impact the Value of Inventory, including change in salability, obsolescence, seasonality, theft, shrinkage, imbalance, change in composition or mix, markdowns and vendor chargebacks. 

Investment: any acquisition of all or substantially all assets of a Person; any acquisition of record or beneficial ownership of
any Equity Interests of a Person; or any loan, advance or capital contribution to or other investment in a Person.  

IRS: the United States Internal Revenue Service. 
 Issuing Bank: Bank of America or an Affiliate of Bank of America. 

  
 17 

 Issuing Bank Indemnitees: Issuing Bank and its officers, directors, employees,
Affiliates, agents and attorneys. 
 LC Application: an application by Borrower Agent to Issuing Bank for issuance of a
Letter of Credit, in form and substance satisfactory to Issuing Bank. 
 LC Conditions: the following conditions
necessary for issuance of a Letter of Credit: (a) each of the conditions set forth in Section 6; (b) after giving effect to such issuance, total LC Obligations do not exceed the Letter of Credit Subline, no Overadvance exists
and, if no Revolver Loans are outstanding, the LC Obligations do not exceed the Borrowing Base (without giving effect to the LC Reserve for purposes of this calculation); (c) the expiration date of such Letter of Credit is (i) no more than
365 days from issuance, in the case of standby Letters of Credit, (ii) no more than 120 days from issuance, in the case of documentary Letters of Credit, and (iii) at least 20 Business Days prior to the Revolver Termination Date;
(d) the Letter of Credit and payments thereunder are denominated in Dollars; and (e) the purpose and form of the proposed Letter of Credit are satisfactory to Agent and Issuing Bank in their discretion. 

LC Documents: all documents, instruments and agreements (including LC Requests and LC Applications) delivered by Borrowers or any
other Person to Issuing Bank or Agent in connection with issuance, amendment or renewal of, or payment under, any Letter of Credit. 
 LC Obligations: the sum (without duplication) of (a) all amounts owing by Borrowers for any drawings under Letters of Credit; (b) the maximum amount available to be drawn under all
outstanding Letters of Credit; and (c) all fees and other amounts owing with respect to Letters of Credit. 
 LC
Request: a request for issuance of a Letter of Credit, to be provided by Borrower Agent to Issuing Bank, in form satisfactory to Agent and Issuing Bank. 
 LC Reserve: the aggregate of all LC Obligations, other than (a) those that have been Cash Collateralized; and (b) if no Default or Event of Default exists, those constituting fees and
other amounts owing to the Issuing Bank. 
 Lender Indemnitees: Lenders and their respective officers, directors,
employees, Affiliates, agents and attorneys. 
 Lenders: as defined in the preamble to this Agreement, including Agent in
its capacity as a provider of Swingline Loans and any other Person who hereafter becomes a “Lender” pursuant to an Assignment and Acceptance. 
 Lending Office: the office designated as such by the applicable Lender at the time it becomes party to this Agreement or thereafter by notice to Agent and Borrower Agent. 

Letter of Credit: any standby or documentary letter of credit issued by Issuing Bank for the account of a Borrower, or any
indemnity, guarantee, exposure transmittal memorandum or similar form of credit support issued by Agent or Issuing Bank for the benefit of a Borrower. 
 Letter of Credit Subline: $35,000,000. 
 LIBOR: for any Interest
Period with respect to a LIBOR Loan, the per annum rate of interest (rounded upward, if necessary, to the nearest 1/32nd of 1%), determined by Agent at approximately 11:00 a.m. (London time) two Business Days prior to commencement of such Interest
Period, for a term comparable to such Interest Period, equal to (a) the British Bankers Association LIBOR Rate (“BBA 

  
 18 

 
LIBOR”), as published by Reuters (or other commercially available source designated by Agent); or (b) if BBA LIBOR is not available for any reason, the interest rate at which
Dollar deposits in the approximate amount of the LIBOR Loan would be offered by Bank of America’s London branch to major banks in the London interbank Eurodollar market. If the Board of Governors imposes a Reserve Percentage with respect to
LIBOR deposits, then LIBOR shall be the foregoing rate, divided by 1 minus the Reserve Percentage. 
 LIBOR Loan:
each set of LIBOR Revolver Loans having a common length and commencement of Interest Period. 
 LIBOR Revolver Loan: a
Revolver Loan that bears interest based on LIBOR. 
 License: any license or agreement under which an Obligor is
authorized to use Intellectual Property in connection with any manufacture, marketing, distribution or disposition of Collateral, any use of Property or any other conduct of its business. 

Licensor: any Person from whom an Obligor obtains the right to use any Intellectual Property. 

Lien: any Person’s interest in Property securing an obligation owed to, or a claim by, such Person, whether such interest is
based on common law, statute or contract, including liens, security interests, pledges, hypothecations, statutory trusts, reservations, exceptions, encroachments, easements, rights-of-way, covenants, conditions, restrictions, leases, and other title
exceptions and encumbrances affecting Property. 
 Lien Waiver: an agreement, in form and substance satisfactory to
Agent, by which (a) for any Collateral located on leased premises, the lessor waives or subordinates any Lien it may have on the Collateral, and agrees to permit Agent to enter upon the premises and remove the Collateral or to use the premises
to store or dispose of the Collateral; (b) for any Collateral held by a warehouseman, processor, shipper, customs broker or freight forwarder, such Person waives or subordinates any Lien it may have on the Collateral, agrees to hold any
Documents in its possession relating to the Collateral as agent for Agent, and agrees to deliver the Collateral to Agent upon request; (c) for any Collateral held by a repairman, mechanic or bailee, such Person acknowledges Agent’s Lien,
waives or subordinates any Lien it may have on the Collateral, and agrees to deliver the Collateral to Agent upon request; and (d) for any Collateral subject to a Licensor’s Intellectual Property rights, the Licensor grants to Agent the
right, vis-à-vis such Licensor, to enforce Agent’s Liens with respect to the Collateral, including the right to dispose of it with the benefit of the Intellectual Property, whether or not a default exists under any applicable License.

 Line Usage: for any period, the percent equal to (a) the average daily amount of outstanding Obligations for such
period divided by (b) the average amount of Revolver Commitments during such period. 
 Litigation
Reserve: an amount equal to any amounts (net of insurance coverage therefore acknowledged by the insurer in writing) owing by Parent or any of its Subsidiaries from time to time in connection with unsatisfied verdicts, judgments or settlements,
as established by Agent from time to time in its Credit Judgment. On the Closing Date the Litigation Reserve shall be $8,700,000, which amount is attributable to the Boynton Litigation. 

Loan: a Revolver Loan. 
 Loan Account: the loan account established by each Lender on its books pursuant to Section 5.8. 

  
 19 

 Loan Documents: this Agreement, Other Agreements and Security Documents. 

Loan Year: each 12 month period commencing on the Closing Date and on each anniversary of the Closing Date. 

Margin Stock: as defined in Regulation U of the Board of Governors. 

Material Adverse Effect: the effect of any event or circumstance that, taken alone or in conjunction with other events or
circumstances, (a) has or could be reasonably expected to have a material adverse effect on the business, operations, Properties, prospects or condition (financial or otherwise) of any Borrower Group taken as a whole or the Obligors taken as a
whole, on the value of any material Collateral, on the enforceability of the Loan Documents, or on the validity or priority of Agent’s Liens on the Collateral; (b) impairs the ability of any Borrower or Guarantor to perform its obligations
under the Loan Documents, including repayment of the Obligations; or (c) otherwise impairs the ability of Agent or any Lender to enforce or collect the Obligations or to realize upon the Collateral. 

Material Contract: any agreement or arrangement to which a Borrower or Subsidiary is party (other than the Loan Documents)
(a) that is deemed to be a material contract under any securities law applicable to such Obligor, including the Securities Act of 1933; (b) for which breach, termination, nonperformance or failure to renew could reasonably be expected to
have a Material Adverse Effect; or (c) that relates to Subordinated Debt, or Debt in an aggregate amount of $10,000,000 or more. 
 Moody’s: Moody’s Investors Service, Inc., and its successors. 

Mortgage: each mortgage, deed of trust or deed to secure debt pursuant to which a Borrower or Guarantor grants to Agent, for the
benefit of Secured Parties, Liens upon the Real Estate Collateral owned by such Borrower, as security for the Obligations. 

Multiemployer Plan: any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which any Obligor or
ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 
 Net Proceeds: with respect to an Asset Disposition, proceeds (including, when received, any deferred or escrowed payments) received by a Borrower or Subsidiary in cash from such disposition, net of
(a) reasonable and customary costs and expenses actually incurred in connection therewith, including legal fees and sales commissions; (b) amounts applied to repayment of Debt secured by a Permitted Lien senior to Agent’s Liens on
Collateral sold; (c) any Taxes reasonably attributable to such Asset Disposition (including any withholding in respect of such Taxes) and reasonably estimated by Borrowers to be actually payable; and (d) reserves for indemnities, until
such reserves are no longer needed. 
 NOLV Percentage: with respect to any category of Inventory for any Borrower Group,
the net orderly liquidation value of such Inventory, expressed as a percentage, expected to be realized at an orderly, negotiated sale held within a reasonable period of time, net of all liquidation expenses, as determined from the most recent
appraisal of such Inventory performed by an appraiser and on terms satisfactory to Agent. 
 Notes: each Revolver Note or
other promissory note executed by a Borrower to evidence any Obligations. 
 Notice of Borrowing: a Notice of Borrowing
to be provided by Borrower Agent to request a Borrowing of Revolver Loans, in form satisfactory to Agent. 

  
 20 

 Notice of Conversion/Continuation: a Notice of Conversion/Continuation to be provided
by Borrower Agent to request a conversion or continuation of any Loans as LIBOR Loans, in form satisfactory to Agent. 

Obligations: all (a) principal of and premium, if any, on the Loans, (b) LC Obligations and other obligations of
Obligors with respect to Letters of Credit, (c) interest, expenses, fees and other sums payable by Obligors under Loan Documents, (d) obligations of Obligors under any indemnity for Claims, (e) Extraordinary Expenses, (f) Bank
Product Debt, and (g) other Debts, obligations and liabilities of any kind owing by Obligors pursuant to the Loan Documents, whether now existing or hereafter arising, whether evidenced by a note or other writing, whether allowed in any
Insolvency Proceeding, whether arising from an extension of credit, issuance of a letter of credit, acceptance, loan, guaranty, indemnification or otherwise, and whether direct or indirect, absolute or contingent, due or to become due, primary or
secondary, or joint or several. 
 Obligor: each Borrower, Guarantor, or other Person that is liable for payment of any
Obligations or that has granted a Lien in favor of Agent on its assets to secure any Obligations. 
 Operating Lease:
with respect to any Person, any lease of Property (other than a Capital Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

 Ordinary Course of Business: the ordinary course of business of any Borrower or Subsidiary, consistent with past
practices and undertaken in good faith. 
 Organic Documents: with respect to any Person, its charter, certificate or
articles of incorporation, bylaws, articles of organization, limited liability company agreement, operating agreement, members agreement, shareholders agreement, partnership agreement, certificate of partnership, certificate of formation, voting
trust agreement, or similar agreement or instrument governing the formation or management of such Person. 
 OSHA: the
Occupational Safety and Hazard Act of 1970. 
 Other Agreement: each Note; each LC Document; each Lien Waiver; the Fee
Letter; the Intercreditor Agreement; each Related Real Estate Document; each Borrowing Base Certificate, each Compliance Certificate, each financial statement or report delivered hereunder; or other document, instrument or agreement (other than this
Agreement or a Security Document) now or hereafter delivered by an Obligor or other Person to Agent or a Lender in connection with any transactions relating hereto. 
 Other Taxes: all present or future stamp or documentary taxes or any other excise or property taxes, charges or similar levies arising from any payment made under any Loan Document or from the
execution, delivery or enforcement of, or otherwise with respect to, any Loan Document. 
 Overadvance: as defined in
Section 2.1.5. 
 Overadvance Loan: a Base Rate Revolver Loan made when an Overadvance exists or is caused by
the funding thereof. 
 Parent: Headwaters Incorporated, a Delaware corporation. 

Participant: as defined in Section 13.2. 

  
 21 

 Patent Security Agreement: each patent security agreement pursuant to which an
Obligor grants to Agent, for the benefit of Secured Parties, a Lien on such Obligor’s interests in its patents, as security for the Obligations. 
 Patriot Act: the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. No. 107-56, 115 Stat. 272 (2001).

 Payment Item: each check, draft or other item of payment payable to a Borrower, including those constituting proceeds
of any Collateral. 
 PBGC: the Pension Benefit Guaranty Corporation. 

Pension Plan: any employee pension benefit plan (as such term is defined in Section 3(2) of ERISA), other than a
Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by any Obligor or ERISA Affiliate or to which the Obligor or ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple
employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the preceding five plan years. 
 Permitted Acquisition: any Acquisition by any Borrower in a transaction that satisfies each of the following requirements: (a) such Acquisition is not a hostile acquisition or contested by the
Person to be acquired; (b) the assets being acquired (other than a de minimis amount of assets in relation to Borrowers’ total assets), or the Person whose Equity Interests are being acquired, are useful in or engaged in, as
applicable, the business of Borrowers or a business reasonably related thereto; (c) both before and after giving effect to such Acquisition, each of the representations and warranties in the Loan Documents is true and correct; (d) no
Default or Event of Default shall have occurred and be continuing or would result from the consummation of such Acquisition; (e) as soon as available, but not less than 30 days prior to such Acquisition, the Borrowers have provided Agent
(i) notice of such Acquisition and (ii) a copy of all available business and financial information reasonably requested by Agent including pro forma financial statements, statements of cash flow, financial covenant projections, and
Availability projections; (f) not later than: (i) 15 Business Days prior to the anticipated closing date of such Acquisition, Borrowers shall have provided the Agent with the then current drafts of the acquisition agreement and other
material documents relative to such Acquisition, which agreement and documents must be reasonably acceptable to Agent and (ii) 5 Business Days prior to the anticipated closing date of such Acquisition, Borrowers shall have provided the Agent
with the final copies of the acquisition agreement and other material documents relative to such Acquisition, which agreement and documents must be reasonably acceptable to Agent; (g) the aggregate purchase consideration payable (including
deferred payment obligations) in respect of all Acquisitions made during the term of this Agreement shall not exceed $3,000,000; (h) if such Acquisition is an acquisition of the Equity Interests of a Person, the Acquisition is structured so
that the acquired Person shall become a wholly-owned Subsidiary of a Borrower and, in accordance with Section 10.1.9, an Obligor pursuant to the terms of this Agreement; (i) if such Acquisition is an acquisition of assets, the
Acquisition is structured so that a Borrower shall acquire such assets; (j) the assets being acquired (other than a de minimis amount of assets in relation to the assets being acquired) are located within the United States, or the Person
whose Equity Interests are being acquired is organized in a jurisdiction located within the United States; (k) no Debt will be incurred, assumed, or would exist with respect to Borrower or its Subsidiaries as a result of such Acquisition, other
than Debt permitted under Section 10.2.1 and no Liens will be incurred, assumed, or would exist with respect to the assets of Borrower or its Subsidiaries as a result or such Acquisition other than Permitted Liens; and (l) both
before and after giving effect to any such Acquisition, Excess Availability is greater than $30,000,000. In no event will assets acquired pursuant to a Permitted Acquisition constitute assets eligible for inclusion in the Borrowing Base prior to
completion of a field examination and other due diligence acceptable to Agent in its discretion. 

  
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 Permitted Asset Disposition: as long as: (x) no Default or Event of Default
exists (provided that, in the case of clauses (a) and (c) only, such Asset Dispositions will continue to be permitted unless Agent has given Borrower Agent notice otherwise), and (y) in the case of clauses (a) and
(c) only, all Net Proceeds are remitted to a Dominion Account, an Asset Disposition that is: (a) a sale of Inventory in the Ordinary Course of Business; (b) a disposition of Equipment that, in the aggregate during any 12 month period,
has a fair market or book value (whichever is more) of $5,000,000 or less; (c) a disposition of Inventory that is obsolete, unmerchantable or otherwise unsalable in the Ordinary Course of Business; (d) a sale or grant of non-exclusive
licenses of Intellectual Property entered into in the Ordinary Course of Business; (e) termination of a lease of real or personal Property that is not necessary for the Ordinary Course of Business, could not reasonably be expected to have a
Material Adverse Effect and does not result from an Obligor’s default; (f) leases, sales or other dispositions of Property that, in the aggregate during any Fiscal Year, has a book value of $5,000,000 or less; (g) a disposition of
Property (other than any Revolver Priority Collateral) that is exchanged for credit against the purchase price of similar replacement property; (h) a transfer of Property by: (i) a Borrower to another Borrower; (ii) a Guarantor to
another Guarantor; or (iii) a Guarantor to a Borrower; or (i) approved in writing by Agent and Required Lenders. 

Permitted Contingent Obligations: Contingent Obligations (a) arising from endorsements of Payment Items for collection or
deposit in the Ordinary Course of Business; (b) arising from Hedging Agreements permitted hereunder; (c) existing on the Closing Date, and any extension or renewal thereof that does not increase the amount of such Contingent Obligation
when extended or renewed; (d) incurred in the Ordinary Course of Business with respect to surety, appeal or performance bonds, or other similar obligations; (e) arising from customary indemnification obligations in favor of purchasers in
connection with dispositions of Equipment permitted hereunder; (f) arising under the Loan Documents; (g) consisting of customary indemnification obligations included in contracts entered into in the Ordinary Course of Business;
(h) pursuant to guaranties by: (i) a Borrower of the obligations of another Borrower, (ii) a Guarantor of the obligations of another Guarantor, or (iii) a Guarantor of the obligations of a Borrower, in each case, with respect to
lease, contracts and other commitments entered into in the Ordinary Course of Business; or (i) in an aggregate amount of $5,000,000 or less at any time. 
 Permitted Lien: as defined in Section 10.2.2. 
 Permitted
Purchase Money Debt: Purchase Money Debt of Borrowers and Subsidiaries that is unsecured or secured only by a Purchase Money Lien, as long as the aggregate amount does not exceed $5,000,000 at any time and its incurrence does not violate
Section 10.2.3. 
 Person: any individual, corporation, limited liability company, partnership, joint
venture, joint stock company, land trust, business trust, unincorporated organization, Governmental Authority or other entity. 

Plan: any employee benefit plan (as such term is defined in Section 3(3) of ERISA) established by an Obligor or, with respect
to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, an ERISA Affiliate. 
 Prime Rate:
the rate of interest announced by Bank of America from time to time as its prime rate. Such rate is set by Bank of America on the basis of various factors, including its costs and desired return, general economic conditions and other factors, and is
used as a reference point for pricing some loans, which may be priced at, above or below such rate. Any change in such rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of
such change. 

  
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 Pro Rata: with respect to any Lender, a percentage (carried out to the ninth decimal
place) determined (a) while Revolver Commitments are outstanding, by dividing the amount of such Lender’s Revolver Commitment by the aggregate amount of all Revolver Commitments; and (b) at any other time, by dividing the amount of
such Lender’s Loans and LC Obligations by the aggregate amount of all outstanding Loans and LC Obligations. 
 Properly
Contested: with respect to any obligation of an Obligor, (a) the obligation is subject to a bona fide dispute regarding amount or the Obligor’s liability to pay; (b) the obligation is being properly contested in good faith by
appropriate proceedings promptly instituted and diligently pursued; (c) appropriate reserves have been established in accordance with GAAP; (d) non-payment could not reasonably be expected to have a Material Adverse Effect, nor result in
forfeiture or sale of any assets of the Obligor; (e) no Lien is imposed on assets of the Obligor, unless bonded and stayed to the satisfaction of Agent; and (f) if the obligation results from entry of a judgment or other order, such
judgment or order is stayed pending appeal or other judicial review. 
 Property: any interest in any kind of property or
asset, whether real, personal or mixed, or tangible or intangible. 
 Protective Advances: as defined in
Section 2.1.6. 
 Purchase Money Debt: (a) Debt (other than the Obligations or Capital Leases) for
payment of any of the purchase price of fixed assets; (b) Debt (other than the Obligations or Capital Leases) incurred within 30 days before or after acquisition of any fixed assets, for the purpose of financing any of the purchase price
thereof; and (c) any renewals, extensions or refinancings (but not increases) thereof. 
 Purchase Money Lien: a
Lien that secures Purchase Money Debt, encumbering only the fixed assets acquired with such Debt and constituting a purchase money security interest under the UCC, excluding all Capital Leases. 

RCRA: the Resource Conservation and Recovery Act (42 U.S.C. §§ 6991-6991i). 

Real Estate: all right, title and interest (whether as owner, lessor or lessee) in any real Property or any buildings, structures,
parking areas or other improvements thereon. 
 Real Estate Collateral: means all Real Estate owned by any
Borrower or Guarantor listed on Schedule 7.3.1, any Real Estate owned by any Borrower or Guarantor that is acquired after the Closing Date with a net book value in excess of $1,000,000 and any additional Real Estate owned by any Borrower or
Guarantor to the extent that the aggregate net book value of all such Real Estate owned by Borrowers and Guarantors that does not constitute Real Estate Collateral exceeds $15,000,000.  

Refinancing Conditions: the following conditions for Refinancing Debt: (a) it is in an aggregate principal amount that does
not exceed the principal amount of the Debt being extended, renewed or refinanced; (b) it has a final maturity no sooner than, a weighted average life no less than, and an interest rate no greater than, the Debt being extended, renewed or
refinanced; (c) it is subordinated to the Obligations at least to the same extent as the Debt being extended, renewed or refinanced; (d) the representations, covenants and defaults applicable to it are no less favorable to Borrowers than
those applicable to the Debt being extended, renewed or refinanced; (e) no additional Lien is granted to secure it; (f) no additional Person is obligated on such Debt; and (g) upon giving effect to it, no Default or Event of Default
exists. 

  
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 Refinancing Debt: Borrowed Money that is the result of an extension, renewal or
refinancing of Debt permitted under Section 10.2.1(b) or (d). 
 Reimbursement Date: as defined in
Section 2.3.2. 
 Related Real Estate Documents: with respect to any Real Estate subject to a Mortgage, the
following, in form and substance satisfactory to Agent and received by Agent for review at least 15 days (or such fewer days as may be agreed between the Agent and Borrower Agent in writing) prior to the effective date of the Mortgage: (a) a
mortgagee title policy (or binder therefor) covering Agent’s interest under the Mortgage, in a form and amount and by an insurer acceptable to Agent, which must be fully paid on such effective date; (b) such assignments of leases, estoppel
letters, attornment agreements, consents, waivers and releases as Agent may require with respect to other Persons having an interest in the Real Estate; (c) flood insurance in an amount, with endorsements and by an insurer acceptable to Agent,
if the Real Estate is within a flood plain; and (d) an Environmental Agreement and such other documents, instruments or agreements as Agent may reasonably require with respect to any environmental risks regarding the Real Estate. 

Rent and Charges Reserve: the aggregate of (a) all past due rent and other amounts owing by an Obligor to any landlord,
warehouseman, processor, repairman, mechanic, shipper, freight forwarder, broker or other Person who possesses any Collateral or could assert a Lien on any Collateral; and (b) a reserve at least equal to three months’ rent and other
charges that could be payable to any such Person, unless it has executed a Lien Waiver. 
 Rentals: with respect to any
Person, the aggregate fixed amounts payable by such Person under any Operating Lease. 
 Report: as defined in
Section 12.2.3. 
 Reportable Event: any of the events set forth in Section 4043(c) of ERISA, other than
events for which the 30 day notice period has been waived. 
 Reporting Trigger Period: the period (a) commencing on
the day that an Event of Default occurs, or Excess Availability is less than $20,000,000 at any time; and (b) continuing until, during the preceding three (3) calendar months, no Event of Default has existed and Excess Availability has
been greater than $25,000,000 at all times. 
 Required Lenders: Lenders (subject to Section 4.2) having
(a) Revolver Commitments in excess of 50% of the aggregate Revolver Commitments; and (b) if the Revolver Commitments have terminated, Loans in excess of 50% of all outstanding Loans; provided, however, that at any time there
are 2 or more Lenders, “Required Lenders” must include at least 2 Lenders. 
 Reserve Percentage: the reserve
percentage (expressed as a decimal, rounded up to the nearest 1/8th of 1%) applicable to member banks under regulations issued from time to time by the Board of Governors for determining the maximum reserve requirement (including any emergency,
supplemental or other marginal reserve requirement) with respect to Eurocurrency funding (currently referred to as “Eurocurrency liabilities”). 
 Restricted Cash: cash of Borrowers that is in blocked Deposit Accounts of Borrowers over which only Agent has control, subject to Deposit Account Control Agreements in form and substance
satisfactory to Agent. 

  
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 Restricted Investment: any Investment by a Borrower or Subsidiary, other than
(a) Investments in (i) Subsidiaries to the extent existing on the Closing Date, (ii) Subsidiaries that become a Borrower in accordance with Section 10.1.9 before or concurrently with the making of such Investment, or
(iii) another Borrower; (b) Cash Equivalents that are subject to Agent’s Lien and control, pursuant to documentation in form and substance satisfactory to Agent; (c) loans and advances permitted under Section 10.2.7;
(d) Investments consisting of accounts receivable created, acquired or made by any Obligor in the Ordinary Course of Business and payable or dischargeable in accordance with customary trade terms; (e) Investments consisting of Equity
Interests, obligations, securities or other Property received by any Obligor in settlement of accounts receivable from bankrupt obligors; (f) Investments existing on the Closing Date and set forth on Schedule P-1; (g) Permitted
Acquisitions; (h) Investments resulting from pledges and deposits constituting Permitted Liens; (i) Hedging Agreements to the extent permitted under Section 10.2.15; (j) Investments made in the Ordinary Course of Business
in connection with obtaining, maintaining or renewing customer contracts so long as the aggregate amount of all such Investments made after the Closing Date do not exceed $3,000,000; provided, however, that any returns on such
Investments recovered by a Borrower shall be deemed to reduce, on a dollar for dollar basis, the amount of such Investments for purposes of calculating compliance with the foregoing limit; and (k) Investments otherwise permitted by the Required
Lenders in writing. 
 Restrictive Agreement: an agreement (other than a Loan Document) that conditions or restricts the
right of any Borrower, Subsidiary or other Obligor to incur or repay Borrowed Money, to grant Liens on any Borrower’s or Guarantor’s assets, to declare or make Distributions, to modify, extend or renew any agreement evidencing Borrowed
Money, or to repay any intercompany Debt; provided that an agreement that conditions or restricts the right of any Borrower, Subsidiary or other Obligor to grant Liens on such person’s leased equipment that is subject to a Capital Lease
shall not be deemed a Restrictive Agreement. 
 Revolver Commitment: for any Lender, its obligation to make Revolver
Loans and to participate in LC Obligations up to the maximum principal amount shown on Schedule 1.1, or as hereafter determined pursuant to each Assignment and Acceptance to which it is a party. “Revolver Commitments” means
the aggregate amount of such commitments of all Lenders. 
 Revolver Loan: a loan made pursuant to
Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance. 
 Revolver Note: a promissory
note to be executed by Borrowers in favor of a Lender in the form of Exhibit A, which shall be in the amount of such Lender’s Revolver Commitment and shall evidence the Revolver Loans made by such Lender. 

Revolver Priority Collateral: as defined in the Intercreditor Agreement. 

Revolver Termination Date: October 27, 2013. 
 Royalties: all royalties, fees, expense reimbursement and other amounts payable by a Borrower under a License. 
 S&P: Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its successors. 

SCP Borrowing Base: on any date of determination, an amount equal to the sum of (a) 85% of the Value of SCP Eligible
Accounts, plus (b) the lesser of (i) 65% of the Value of SCP Eligible Inventory; or (ii) 85% of the NOLV Percentage of the Value of SCP Eligible Inventory. 

  
 26 

 SCP Dilution Percent: the percent, determined for the immediately prior 90 or 365
consecutive days (at Agent’s option), equal to (a) bad debt write-downs or write-offs, discounts, returns, promotions, credits, credit memos and other dilutive items with respect to Accounts of the SCP Group, divided by
(b) gross sales of the SCP Group. 
 SCP Dilution Reserve: as of any date of determination, an amount sufficient to
reduce the advance rate against SCP Eligible Accounts by the percentage points (rounded to the nearest 1/10 of 1%) by which the SCP Dilution Percent is in excess of 5.0%. 
 SCP Eligible Account: an Account owing to any Borrower in the SCP Group that arises in the Ordinary Course of Business from the sale of goods or rendition of services, is payable in Dollars and is
deemed by Agent, in its Credit Judgment, to be a SCP Eligible Account. Without limiting the foregoing, no such Account shall be a SCP Eligible Account if: 
 (a) it is unpaid for more than 60 days after the original due date, or more than 90 days after the original invoice date; 

(b) 50% or more of the Accounts owing by the Account Debtor to Borrowers in the SCP Group are not SCP Eligible Accounts
under the foregoing clause; 
 (c) when aggregated with other Accounts owing by the Account Debtor to Borrowers
in the SCP Group, it exceeds 15% of the aggregate SCP Eligible Accounts (or such higher percentage as the Required Lenders may establish for the Account Debtor from time to time); 

(d) it does not conform with a covenant or representation herein; 

(e) it is subject to a potential offset, counterclaim, dispute, deduction, discount (other than an early-pay discount
offered as part of normal-course selling terms), recoupment, reserve, defense, chargeback, credit or allowance by the Account Debtor, whether it is a creditor, a supplier or otherwise (but ineligibility shall be limited to the amount thereof);

 (f) an Insolvency Proceeding has been commenced by or against the Account Debtor; or the Account Debtor has
failed, has suspended or ceased doing business, is liquidating, dissolving or winding up its affairs, or is not Solvent; or the applicable Borrower is not able to bring suit or enforce remedies against the Account Debtor through judicial process;

 (g) the Account Debtor is organized or has its principal offices or assets outside the United States or Canada
unless (i) such Account is supported by an irrevocable letter of credit satisfactory to Agent (as to form, substance, and issuer or domestic confirming bank); and (ii) such letter of credit has been delivered to Agent and is directly
drawable by Agent; 
 (h) it is owing by a Government Authority, unless the Account Debtor is the United States
or any State, department, agency or instrumentality thereof and the Assignment of Claims Act or any similar State or local law, if applicable, has been complied with in a manner satisfactory to Agent; 

(i) it is not subject to a duly perfected, first priority Lien in favor of Agent, or is subject to any Lien other than a
Permitted Lien which has been explicitly disclosed to Agent in writing; 

  
 27 

 (j) the goods giving rise to it have not been delivered to and accepted by
the Account Debtor, the services giving rise to it have not been accepted by the Account Debtor, or it otherwise does not represent a final sale; 
 (k) it is evidenced by Chattel Paper or an Instrument of any kind, or has been reduced to judgment; 
 (l) its payment has been extended, the Account Debtor has made a partial payment, or it arises from a sale on a cash-on-delivery basis; 

(m) it arises from a sale to an Affiliate, from a sale on a bill-and-hold, guaranteed sale, sale-or-return,
sale-on-approval, consignment, or other repurchase or return basis, or from a sale to a Person for personal, family or household purposes; 
 (n) it represents a progress billing or retainage; or 
 (o) it
includes a billing for interest, fees or late charges, but ineligibility shall be limited to the extent thereof. 
 In
calculating delinquent portions of Accounts under clauses (a) and (b), credit balances more than 90 days old will be excluded. 
 SCP Eligible Inventory: Inventory owned by any Borrower in the SCP Group that Agent, in its Credit Judgment, deems to be SCP Eligible Inventory. Without limiting the foregoing, no such Inventory
shall be SCP Eligible Inventory unless it: 
 (a) is finished goods or raw materials, and not work-in-process,
packaging or shipping materials, labels, samples, display items, bags, replacement parts or manufacturing supplies; 
 (b) is not held on consignment, nor subject to any deposit or downpayment; 
 (c) is in new and saleable condition and is not damaged, defective, shopworn or otherwise unfit for sale; 
 (d) is not slow-moving, obsolete or unmerchantable, and does not constitute returned or repossessed goods; 
 (e) meets all standards imposed by any Governmental Authority, and does not constitute hazardous materials under any Environmental Law; 

(f) conforms with the covenants and representations herein; 

(g) is subject to Agent’s duly perfected, first priority Lien, and no other Lien other than Permitted Liens which
have been explicitly disclosed to Agent in writing; 
 (h) is within the continental United States, is not in
transit except between locations of Borrowers, and is not consigned to any Person; 
 (i) is not subject to any
warehouse receipt or negotiable Document; 

  
 28 

 (j) is not subject to any License or other arrangement that restricts such
Borrower’s or Agent’s right to dispose of such Inventory, unless Agent has received an appropriate Lien Waiver; 
 (k) is not located on leased premises or in the possession of a warehouseman, processor, repairman, mechanic, shipper, freight forwarder or other Person, unless the lessor or such Person has delivered a
Lien Waiver or an appropriate Rent and Charges Reserve has been established; and 
 (l) is reflected in the
details of a current perpetual inventory report. 
 SCP Group: collectively, Headwaters Construction Materials, Inc, a
Utah corporation, HCM Utah, LLC, a Utah limited liability company, and Headwaters Construction Materials, LLC, a Texas limited liability company. 
 Secured Parties: Agent, Issuing Bank, Lenders and providers of Bank Products. 
 Security Documents: the Guaranties, Mortgages, Patent Security Agreements, Trademark Security Agreements, Deposit Account Control Agreements, and all other documents, instruments and agreements now
or hereafter securing (or given with the intent to secure) any Obligations. 
 Senior Officer: the chairman of the board,
president, chief executive officer or chief financial officer of a Borrower or, if the context requires, an Obligor. 

Senior Secured Notes: senior secured notes due not earlier than 2014 to be issued by Parent on the Closing Date and the Debt
represented thereby, the terms and conditions of which are satisfactory to each Lender in its sole discretion. 
 Senior
Secured Notes Documents: the indenture to be entered into among Parent, certain of its subsidiaries listed therein and the trustee named therein, in respect of the Senior Secured Notes and all other instruments, agreements and other documents
evidencing or governing the Senior Secured Notes or providing for any guaranty or other right in respect thereof, the terms and conditions of which are satisfactory to each Lender in its sole discretion. 

Senior Secured Notes Collateral Agent: Wilmington Trust, FSB. 

Settlement Report: a report delivered by Agent to Lenders summarizing the Revolver Loans and participations in LC Obligations
outstanding as of a given settlement date, allocated to Lenders on a Pro Rata basis in accordance with their Revolver Commitments. 
 Solvent: as to any Person, such Person (a) owns Property whose fair salable value is greater than the amount required to pay all of its debts (including contingent, subordinated, unmatured and
unliquidated liabilities); (b) owns Property whose present fair salable value (as defined below) is greater than the probable total liabilities (including contingent, subordinated, unmatured and unliquidated liabilities) of such Person as they
become absolute and matured; (c) is able to pay all of its debts as they mature; (d) has capital that is not unreasonably small for its business and is sufficient to carry on its business and transactions and all business and transactions
in which it is about to engage; (e) is not “insolvent” within the meaning of Section 101(32) of the Bankruptcy Code; and (f) has not incurred (by way of assumption or otherwise) any obligations or liabilities (contingent or
otherwise) under any Loan Documents, or made any conveyance in connection therewith, with actual intent to hinder, delay or defraud either present or future creditors of such Person or any of its Affiliates. “Fair salable value”

  
 29 

 
means the amount that could be obtained for assets within a reasonable time, either through collection or through sale under ordinary selling conditions by a capable and diligent seller to an
interested buyer who is willing (but under no compulsion) to purchase. 
 Subordinated Debt: Debt incurred by a Borrower
that is expressly subordinate and junior in right of payment to Full Payment of all Obligations, and is on terms (including maturity, interest, fees, repayment, covenants and subordination) satisfactory to the Required Lenders. 

Subsidiary: any entity at least 50% of whose voting securities or Equity Interests is owned by a Borrower or any combination of
Borrowers (including indirect ownership by a Borrower through other entities in which the Borrower directly or indirectly owns 50% of the voting securities or Equity Interests); provided that FlexCrete Building Systems, L.C., a Utah limited
liability company shall not be considered a “Subsidiary” of a Borrower for any purpose under this Agreement, including, without limitation, for purposes of the covenants set forth in Section 10.2.3 and 10.3. 

Swingline Loan: any Borrowing of Base Rate Revolver Loans funded with Agent’s funds, until such Borrowing is settled among
Lenders or repaid by Borrowers. 
 Tapco Borrowing Base: on any date of determination, an amount equal to the sum of
(a) 85% of the Value of Tapco Eligible Accounts, plus (b) the lesser of (i) 65% of the Value of Tapco Eligible Inventory; or (ii) 85% of the NOLV Percentage of the Value of Tapco Eligible Inventory. 

Tapco Dilution Percent: the percent, determined for the immediately prior 90 or 365 consecutive days (at Agent’s option),
equal to (a) bad debt write-downs or write-offs, discounts, returns, promotions, credits, credit memos and other dilutive items with respect to Accounts of the Tapco Group, divided by (b) gross sales of the Tapco Group.

 Tapco Dilution Reserve: as of any date of determination, an amount sufficient to reduce the advance rate against Tapco
Eligible Accounts by the percentage points (rounded to the nearest 1/10 of 1%) by which the Tapco Dilution Percent is in excess of 5.0%. 
 Tapco Eligible Account: an Account owing to any Borrower in the Tapco Group that arises in the Ordinary Course of Business from the sale of goods or rendition of services, is payable in Dollars and
is deemed by Agent, in its Credit Judgment, to be a Tapco Eligible Account. Without limiting the foregoing, no such Account shall be a Tapco Eligible Account if: 

(a) it is unpaid for more than 60 days after the original due date, or more than 90 days after the original invoice date;

 (b) 50% or more of the Accounts owing by the Account Debtor to Borrowers in the Tapco Group are not Tapco
Eligible Accounts under the foregoing clause; 
 (c) when aggregated with other Accounts owing by the Account
Debtor to Borrowers in the Tapco Group, it exceeds (i) in the case of The Home Depot, Inc., 20% of the aggregate Tapco Eligible Accounts, or (ii) in the case of all other Account Debtors, 15% of the aggregate Tapco Eligible Accounts (or
such higher percentage as the Required Lenders may establish for the Account Debtor from time to time); 
 (d) it
does not conform with a covenant or representation herein; 

  
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 (e) it is subject to a potential offset, counterclaim, dispute, deduction,
discount (other than an early-pay discount offered as part of normal-course selling terms), recoupment, reserve, defense, chargeback, credit or allowance by the Account Debtor, whether it is a creditor, a supplier or otherwise (but ineligibility
shall be limited to the amount thereof); 
 (f) an Insolvency Proceeding has been commenced by or against the
Account Debtor; or the Account Debtor has failed, has suspended or ceased doing business, is liquidating, dissolving or winding up its affairs, or is not Solvent; or the applicable Borrower is not able to bring suit or enforce remedies against the
Account Debtor through judicial process; 
 (g) the Account Debtor is organized or has its principal offices or
assets outside the United States or Canada unless (i) such Account is supported by an irrevocable letter of credit satisfactory to Agent (as to form, substance, and issuer or domestic confirming bank); and (ii) such letter of credit has
been delivered to Agent and is directly drawable by Agent; 
 (h) it is owing by a Government Authority, unless
the Account Debtor is the United States or any State, department, agency or instrumentality thereof and the Assignment of Claims Act or any similar State or local law, if applicable, has been complied with in a manner satisfactory to Agent;

 (i) it is not subject to a duly perfected, first priority Lien in favor of Agent, or is subject to any Lien
other than a Permitted Lien which has been explicitly disclosed to Agent in writing; 
 (j) the goods giving rise
to it have not been delivered to and accepted by the Account Debtor, the services giving rise to it have not been accepted by the Account Debtor, or it otherwise does not represent a final sale; 

(k) it is evidenced by Chattel Paper or an Instrument of any kind, or has been reduced to judgment; 

(l) its payment has been extended, the Account Debtor has made a partial payment, or it arises from a sale on a
cash-on-delivery basis; 
 (m) it arises from a sale to an Affiliate, from a sale on a bill-and-hold, guaranteed
sale, sale-or-return, sale-on-approval, consignment, or other repurchase or return basis, or from a sale to a Person for personal, family or household purposes; 
 (n) it represents a progress billing or retainage; 
 (o) the goods
giving rise to it are Inspire branded goods, unless Agent shall, in its discretion, permit the inclusion of such Account as a Tapco Eligible Account; or 
 (p) it includes a billing for interest, fees or late charges, but ineligibility shall be limited to the extent thereof. 
 In calculating delinquent portions of Accounts under clauses (a) and (b), credit balances more than 90 days old will be excluded. 

  
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 Tapco Eligible Inventory: Inventory owned by any Borrower in the Tapco Group that
Agent, in its Credit Judgment, deems to be Tapco Eligible Inventory. Without limiting the foregoing, no such Inventory shall be Tapco Eligible Inventory unless it: 

(a) is finished goods or raw materials, and not work-in-process, packaging or shipping materials, labels, samples, display
items, bags, replacement parts or manufacturing supplies; 
 (b) is not held on consignment, nor subject to any
deposit or downpayment; 
 (c) is in new and saleable condition and is not damaged, defective, shopworn or
otherwise unfit for sale; 
 (d) is not slow-moving, obsolete or unmerchantable, and does not constitute returned
or repossessed goods; 
 (e) meets all standards imposed by any Governmental Authority, and does not constitute
hazardous materials under any Environmental Law; 
 (f) conforms with the covenants and representations herein;

 (g) is subject to Agent’s duly perfected, first priority Lien, and no other Lien other than Permitted
Liens which have been explicitly disclosed to Agent in writing; 
 (h) is within the continental United States,
is not in transit except between locations of Borrowers, and is not consigned to any Person; 
 (i) is not
subject to any warehouse receipt or negotiable Document; 
 (j) is not subject to any License or other
arrangement that restricts such Borrower’s or Agent’s right to dispose of such Inventory, unless Agent has received an appropriate Lien Waiver; 
 (k) is not located on leased premises or in the possession of a warehouseman, processor, repairman, mechanic, shipper, freight forwarder or other Person, unless the lessor or such Person has delivered a
Lien Waiver or an appropriate Rent and Charges Reserve has been established; 
 (l) does not consist of molds;

 (o) does not consist of Inspire branded Inventory, unless Agent, in its discretion, shall permit the inclusion
of such Inventory as Tapco Eligible Inventory; and 
 (l) is reflected in the details of a current perpetual
inventory report. 
 Tapco Group: collectively, Tapco International Corporation, a Michigan corporation, Metamora
Products Corporation, a Michigan corporation, MTP, Inc., an Ohio corporation, Atlantic Shutter Systems, Inc., a South Carolina corporation, Inspire Services, LLC, a Michigan limited liability company, Stonecraft Sales, LLC, a Michigan limited
liability company, and Metamora Products Corporation of Elkland, a Pennsylvania corporation. 

  
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 Taxes: all present or future taxes, levies, imposts, duties, deductions, withholdings
(including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

Terminated Lender: as defined in Section 4.7. 

Trademark Security Agreement: each trademark security agreement pursuant to which an Obligor grants to Agent, for the benefit of
Secured Parties, a Lien on such Obligor’s interests in trademarks, as security for the Obligations. 
 Transferee:
any actual or potential Eligible Assignee, Participant or other Person acquiring an interest in any Obligations. 
 Type:
any type of a Loan (i.e., Base Rate Loan or LIBOR Loan) that has the same interest option and, in the case of LIBOR Loans, the same Interest Period. 
 UCC: the Uniform Commercial Code as in effect in the State of California or, when the laws of any other jurisdiction govern the perfection or enforcement of any Lien, the Uniform Commercial Code of
such jurisdiction. 
 Unfunded Pension Liability: the excess of the present value of a Pension Plan’s benefit
liabilities, as described in Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code as of
the most recent valuation date for the applicable plan year. 
 Upstream Payment: a Distribution by a Subsidiary of a
Borrower to such Borrower. 
 Unused Line Margin: the percentage set forth below, as determined by the Line Usage for the
prior calendar month: 
  

							
	Level	  	Line Usage	  	Unused Line
Margin	 
			
	I	  	Greater than 50%	  	 	0.25	% 
			
	II	  	Less than or equal to 50%, but greater than 25%	  	 	0.375	% 
			
	III	  	Less than or equal to 25%	  	 	0.50	% 

 Notwithstanding the forgoing, from the
date hereof until the first day of the month immediately following the date hereof, the Unused Line Margin shall be determined as if Level III were applicable. Thereafter, the Unused Line Margin shall be subject to increase or decrease based upon
the Line Usage for the prior month, as determined by Agent. If by the first day of a month, any Borrowing Base Certificate due in the preceding month has not been received, then, at the option of Agent or Required Lenders, the Unused Line Margin
shall be determined as if Level III were applicable, from such day until the first day of the calendar month following actual receipt. 
 Value: (a) for Inventory, its value determined on the basis of the lower of cost or market, calculated on a first-in, first-out basis, and excluding any portion of cost attributable to
intercompany profit among Borrowers and their Affiliates; and (b) for an Account, its face amount, net of any returns, 

  
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rebates, discounts (calculated on the shortest terms), credits, allowances or Taxes (including sales, excise or other taxes) that have been or could be claimed by the Account Debtor or any other
Person. 
 1.2. Accounting Terms. Under the Loan Documents (except as otherwise specified herein), all accounting
terms shall be interpreted, all accounting determinations shall be made, and all financial statements shall be prepared, in accordance with GAAP applied on a basis consistent with the most recent audited financial statements of Borrowers delivered
to Agent before the Closing Date and using the same inventory valuation method as used in such financial statements, except for any change required or permitted by GAAP if Borrowers’ certified public accountants concur in such change and the
change is disclosed to Agent; provided, however, that, in addition to the foregoing conditions, no such change shall be made in any accounting determinations used to calculate the Fixed Charge Coverage Ratio unless
Section 10.3 is amended in a manner satisfactory to Required Lenders to take into account the effects of the change. 
 1.3. Uniform Commercial Code. As used herein, the following terms are defined in accordance with the UCC in effect in the State of California from time to time: “Chattel Paper,”
“Commercial Tort Claim,” “Deposit Account,” “Document,” “Equipment,” “General Intangibles,” “Goods,” “Instrument,” “Investment Property,” “Letter-of-Credit
Right” and “Supporting Obligation.” 
 1.4. Certain Matters of Construction. The terms
“herein,” “hereof,” “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular section, paragraph or subdivision. Any pronoun used shall be deemed to cover all genders. In
the computation of periods of time from a specified date to a later specified date, “from” means “from and including,” and “to” and “until” each mean “to but excluding.” The terms
“including” and “include” shall mean “including, without limitation” and, for purposes of each Loan Document, the parties agree that the rule of ejusdem generis shall not be applicable to limit any provision. Section
titles appear as a matter of convenience only and shall not affect the interpretation of any Loan Document. All references to (a) laws or statutes include all related rules, regulations, interpretations, amendments and successor provisions;
(b) any document, instrument or agreement includes any amendments, waivers and other modifications, extensions or renewals (to the extent permitted by the Loan Documents); (c) any section means, unless the context otherwise requires, a
section of this Agreement; (d) any exhibits or schedules mean, unless the context otherwise requires, exhibits and schedules attached hereto, which are hereby incorporated by reference; (e) any Person includes successors and assigns;
(f) time of day means time of day at Agent’s notice address under Section 14.3.1; or (g) discretion of Agent, Issuing Bank or any Lender means the sole and absolute discretion of such Person. All calculations of Value,
fundings of Loans, issuances of Letters of Credit and payments of Obligations shall be in Dollars and, unless the context otherwise requires, all determinations (including calculations of Borrowing Base and financial covenants) made from time to
time under the Loan Documents shall be made in light of the circumstances existing at such time. Borrowing Base calculations shall be consistent with historical methods of valuation and calculation, and otherwise satisfactory to Agent (and not
necessarily calculated in accordance with GAAP). Borrowers shall have the burden of establishing any alleged negligence, misconduct or lack of good faith by Agent, Issuing Bank or any Lender under any Loan Documents. No provision of any Loan
Document shall be construed against any party by reason of such party having, or being deemed to have, drafted the provision. Whenever the phrase “to the best of Borrowers’ knowledge” or words of similar import are used in any Loan
Documents, it means actual knowledge of a Senior Officer, or knowledge that a Senior Officer would have obtained if he or she had engaged in good faith and diligent performance of his or her duties, including reasonably specific inquiries of
employees or agents and a good faith attempt to ascertain the matter to which such phrase relates. 

  
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 SECTION 2. CREDIT FACILITIES 

2.1. Revolver Commitment. 
 2.1.1. Revolver Loans. Each Lender agrees, severally on a Pro Rata basis up to its Revolver Commitment, on the terms set forth herein, to make Revolver Loans to Borrowers from time to time through
the Commitment Termination Date. The Revolver Loans may be repaid and reborrowed as provided herein. In no event shall Lenders have any obligation to honor a request for a Revolver Loan if the unpaid balance of Revolver Loans outstanding at such
time (including the requested Loan) would exceed the Borrowing Base. 
 2.1.2. Revolver Notes. The Revolver Loans made by
each Lender and interest accruing thereon shall be evidenced by the records of Agent and such Lender. At the request of any Lender, Borrowers shall deliver a Revolver Note to such Lender. 

2.1.3. Use of Proceeds. The proceeds of Revolver Loans shall be used by Borrowers solely (a) to pay fees and transaction
expenses associated with the closing of this credit facility; (b) to pay Obligations in accordance with this Agreement; and (c) for working capital and other lawful corporate purposes of Borrowers. 

2.1.4. Termination of Revolver Commitments. The Revolver Commitments shall terminate on the Revolver Termination Date, unless
sooner terminated in accordance with this Agreement. Upon at least 45 days prior written notice to Agent at any time after the first Loan Year, Borrowers may, at their option, terminate the Revolver Commitments and this credit facility. Any notice
of termination given by Borrowers shall be irrevocable. On the termination date, Borrowers shall make Full Payment of all Obligations. 
 2.1.5. Overadvances. If the aggregate Revolver Loans exceed the Borrowing Base (“Overadvance”), the excess amount shall be payable by Borrowers on demand by Agent or the Required
Lenders, but all such Revolver Loans shall nevertheless constitute Obligations secured by the Collateral and entitled to all benefits of the Loan Documents. Unless its authority has been revoked in writing by Required Lenders, Agent may require
Lenders to honor requests for Overadvance Loans and to forbear from requiring Borrowers to cure an Overadvance, (a) when no other Event of Default is known to Agent, as long as (i) the Overadvance does not continue for more than 30
consecutive days (and no Overadvance may exist for at least five consecutive days thereafter before further Overadvance Loans are required), and (ii) the Overadvance is not known by Agent to exceed 10% of the aggregate Revolver Commitments; and
(b) regardless of whether an Event of Default exists, if Agent discovers an Overadvance not previously known by it to exist, as long as from the date of such discovery the Overadvance does not continue for more than 30 consecutive days. In no
event shall Overadvance Loans be required that would cause the outstanding Revolver Loans and LC Obligations to exceed the aggregate Revolver Commitments. Any funding of an Overadvance Loan or sufferance of an Overadvance shall not constitute a
waiver by Agent or Lenders of the Event of Default caused thereby. In no event shall any Borrower or other Obligor be deemed a beneficiary of this Section nor authorized to enforce any of its terms. 

2.1.6. Protective Advances. Agent shall be authorized, in its discretion, at any time that any conditions in Section 6
are not satisfied, and without regard to the aggregate Commitments, to make Base Rate Revolver Loans (“Protective Advances”) (a) up to an aggregate amount of 10% of the aggregate Revolver Commitments outstanding at any time, if Agent
deems such Loans necessary or desirable to preserve or protect Collateral, or to enhance the collectibility or repayment of Obligations; or (b) to pay any other amounts chargeable to Obligors under any Loan Documents, including costs, fees and

  
 35 

 
expenses. Each Lender shall participate in each Protective Advance on a Pro Rata basis. Required Lenders may at any time revoke Agent’s authority to make further Protective Advances by
written notice to Agent. Absent such revocation, Agent’s determination that funding of a Protective Advance is appropriate shall be conclusive. 
 2.2. Intentionally Omitted. 
 2.3. Letter of Credit
Facility. 
 2.3.1. Issuance of Letters of Credit. Issuing Bank agrees to issue Letters of Credit from time to
time until 30 days prior to the Revolver Termination Date (or until the Commitment Termination Date, if earlier), on the terms set forth herein, including the following: 
 (a) Each Borrower acknowledges that Issuing Bank’s willingness to issue any Letter of Credit is conditioned upon Issuing Bank’s receipt of a LC Application with respect to the requested Letter
of Credit, as well as such other instruments and agreements as Issuing Bank may customarily require for issuance of a letter of credit of similar type and amount. Issuing Bank shall have no obligation to issue any Letter of Credit unless
(i) Issuing Bank receives a LC Request and LC Application at least three Business Days prior to the requested date of issuance; (ii) each LC Condition is satisfied; and (iii) if a Defaulting Lender exists, such Lender or Borrowers
have entered into arrangements satisfactory to Agent and Issuing Bank to eliminate any funding risk associated with the Defaulting Lender. If Issuing Bank receives written notice from a Lender at least two Business Days before issuance of a Letter
of Credit that any LC Condition has not been satisfied, Issuing Bank shall have no obligation to issue the requested Letter of Credit (or any other) until such notice is withdrawn in writing by that Lender or until Required Lenders have waived such
condition in accordance with this Agreement. Prior to receipt of any such notice, Issuing Bank shall not be deemed to have knowledge of any failure of any of the LC Conditions set forth in clauses (a) and (b) of the definition of L/C
Conditions. 
 (b) Letters of Credit may be requested by a Borrower only (i) to support obligations of such Borrower
incurred in the Ordinary Course of Business; or (ii) for other purposes as Agent and Lenders may approve from time to time in writing. The renewal or extension of any Letter of Credit shall be treated as the issuance of a new Letter of Credit,
except that delivery of a new LC Application shall be required at the discretion of Issuing Bank. 
 (c) Borrowers assume all
risks of the acts, omissions or misuses of any Letter of Credit by the beneficiary. In connection with issuance of any Letter of Credit, none of Agent, Issuing Bank or any Lender shall be responsible for the existence, character, quality, quantity,
condition, packing, value or delivery of any goods purported to be represented by any Documents; any differences or variation in the character, quality, quantity, condition, packing, value or delivery of any goods from that expressed in any
Documents; the form, validity, sufficiency, accuracy, genuineness or legal effect of any Documents or of any endorsements thereon; the time, place, manner or order in which shipment of goods is made; partial or incomplete shipment of, or failure to
ship, any goods referred to in a Letter of Credit or Documents; any deviation from instructions, delay, default or fraud by any shipper or other Person in connection with any goods, shipment or delivery; any breach of contract between a shipper or
vendor and a Borrower; errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable, telegraph, telex, telecopy, e-mail, telephone or otherwise; errors in interpretation of technical terms; the
misapplication by a beneficiary of any Letter of Credit or the proceeds thereof; or any consequences arising from causes beyond the control of Issuing Bank, Agent or any Lender, including any act or omission of a Governmental Authority. The rights
and remedies of Issuing Bank under the Loan Documents shall be cumulative. Issuing Bank shall be fully subrogated to the rights and remedies of each beneficiary whose claims against Borrowers are discharged with proceeds of any Letter of Credit.

  
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 (d) In connection with its administration of and enforcement of rights or remedies under any
Letters of Credit or LC Documents, Issuing Bank shall be entitled to act, and shall be fully protected in acting, upon any certification, documentation or communication in whatever form believed by Issuing Bank, in good faith, to be genuine and
correct and to have been signed, sent or made by a proper Person, except to the extent Issuing Bank shall be grossly negligent in so doing or the same shall constitute willful misconduct. Issuing Bank may consult with and employ legal counsel,
accountants and other experts to advise it concerning its obligations, rights and remedies, and shall be entitled to act upon, and shall be fully protected in any action taken in good faith reliance upon, any advice given by such experts, except to
the extent Issuing Bank shall be grossly negligent in so doing or the same shall constitute willful misconduct. Issuing Bank may employ agents and attorneys-in-fact in connection with any matter relating to Letters of Credit or LC Documents, and
shall not be liable for the negligence or misconduct of agents and attorneys-in-fact selected with reasonable care. 
 2.3.2.
Reimbursement; Participations. 
 (a) If Issuing Bank honors any request for payment under a Letter of Credit, Borrowers
shall pay to Issuing Bank, on the same day (“Reimbursement Date”), the amount paid by Issuing Bank under such Letter of Credit and if Borrowers fail to pay such amount on such day, Borrowers shall also pay interest in such amount at
the interest rate for Base Rate Revolver Loans from the Reimbursement Date until payment by Borrowers. The obligation of Borrowers to reimburse Issuing Bank for any payment made under a Letter of Credit shall be absolute, unconditional, irrevocable,
and joint and several, and shall be paid without regard to any lack of validity or enforceability of any Letter of Credit or the existence of any claim, setoff, defense or other right that Borrowers may have at any time against the beneficiary.
Whether or not Borrower Agent submits a Notice of Borrowing, if Borrowers do not, on the Reimbursement Date, pay Issuing Bank the amount paid under the Letter of Credit, Borrowers shall be deemed to have requested a Borrowing of Base Rate Revolver
Loans in an amount necessary to pay all amounts due Issuing Bank on any Reimbursement Date and each Lender agrees to fund its Pro Rata share of such deemed Borrowing whether or not the Commitments have terminated, an Overadvance exists or is created
thereby, or the conditions in Section 6 are satisfied. 
 (b) Upon issuance of a Letter of Credit, each Lender shall
be deemed to have irrevocably and unconditionally purchased from Issuing Bank, without recourse or warranty, an undivided Pro Rata interest and participation in all LC Obligations relating to the Letter of Credit. If Issuing Bank makes any payment
under a Letter of Credit and Borrowers do not reimburse such payment on the Reimbursement Date, Agent shall promptly notify Lenders and each Lender shall promptly (within one Business Day) and unconditionally pay to Agent, for the benefit of Issuing
Bank, the Lender’s Pro Rata share of such payment. Upon request by a Lender, Issuing Bank shall furnish copies of any Letters of Credit and LC Documents in its possession at such time. 

(c) The obligation of each Lender to make payments to Agent for the account of Issuing Bank in connection with Issuing Bank’s
payment under a Letter of Credit shall be absolute, unconditional and irrevocable, not subject to any counterclaim, setoff, qualification or exception whatsoever, and shall be made in accordance with this Agreement under all circumstances,
irrespective of any lack of validity or unenforceability of any Loan Documents; any draft, certificate or other document presented under a Letter of Credit having been determined to be forged, fraudulent, invalid or insufficient in any respect or
any statement therein being untrue or inaccurate in any respect; or the existence of any setoff or defense that any Obligor may have with respect to any Obligations. Issuing Bank does not assume any responsibility for any failure or delay in
performance or any breach by any Borrower or other Person of any obligations under any LC Documents. Issuing Bank does not make to Lenders any express or implied warranty, representation or guaranty with respect to the Collateral, LC Documents or
any Obligor. Issuing Bank shall not be responsible to any Lender for any recitals, statements, information, 

  
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representations or warranties contained in, or for the execution, validity, genuineness, effectiveness or enforceability of any LC Documents; the validity, genuineness, enforceability,
collectibility, value or sufficiency of any Collateral or the perfection of any Lien therein; or the assets, liabilities, financial condition, results of operations, business, creditworthiness or legal status of any Obligor. 

(d) No Issuing Bank Indemnitee shall be liable to any Lender or other Person for any action taken or omitted to be taken in connection
with any LC Documents except as a result of its actual gross negligence or willful misconduct. Issuing Bank shall not have any liability to any Lender if Issuing Bank refrains from any action under any Letter of Credit or LC Documents until it
receives written instructions from Required Lenders. 
 2.3.3. Cash Collateral. If any LC Obligations, whether or not
then due or payable, shall for any reason be outstanding at any time (a) that an Event of Default exists, (b) that Availability is less than zero, (c) after the Commitment Termination Date, or (d) within 5 Business Days prior to
the Revolver Termination Date, then Borrowers shall, at Issuing Bank’s, Agent’s or Required Lenders’ request, Cash Collateralize the maximum amount available to be drawn under all outstanding Letters of Credit and all other LC
Obligations. Borrowers shall, on demand by Issuing Bank or Agent from time to time, Cash Collateralize the LC Obligations of any Defaulting Lender. If Borrowers fail to provide any Cash Collateral as required hereunder, Lenders may (and shall
upon direction of Agent) advance, as Revolver Loans, the amount of the Cash Collateral required (whether or not the Commitments have terminated, an Overadvance exists or the conditions in Section 6 are satisfied). 

SECTION 3. INTEREST, FEES AND CHARGES 
 3.1. Interest. 
 3.1.1. Rates and Payment of Interest.

 (a) The Obligations shall bear interest (i) if a Base Rate Loan, at the Base Rate in effect from time to time,
plus the Applicable Margin; (ii) if a LIBOR Loan, at LIBOR for the applicable Interest Period, plus the Applicable Margin; and (iii) if any other Obligation (including, to the extent permitted by law, interest not paid when
due), at the Base Rate in effect from time to time, plus the Applicable Margin for Base Rate Revolver Loans. Interest shall accrue from the date the Loan is advanced or the Obligation is incurred or payable, until paid by Borrowers. If a Loan
is repaid on the same day made, one day’s interest shall accrue. 
 (b) During an Insolvency Proceeding with respect to any
Borrower, or during any other Event of Default if Agent or Required Lenders in their discretion so elect, Obligations shall bear interest at the Default Rate (whether before or after any judgment). Each Borrower acknowledges that the cost and
expense to Agent and Lenders due to an Event of Default are difficult to ascertain and that the Default Rate is a fair and reasonable estimate to compensate Agent and Lenders for this. 

(c) Interest accrued on the Loans shall be due and payable in arrears, (i) on the first day of each month; (ii) on any date of
prepayment, with respect to the principal amount of Loans being prepaid; and (iii) on the Commitment Termination Date. Interest accrued on any other Obligations shall be due and payable as provided in the Loan Documents and, if no payment date
is specified, shall be due and payable on demand. Notwithstanding the foregoing, interest accrued at the Default Rate shall be due and payable on demand. 
 3.1.2. Application of LIBOR to Outstanding Loans. 

  
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 (a) Borrowers may on any Business Day, subject to delivery of a Notice of
Conversion/Continuation, elect to convert any portion of the Base Rate Loans to, or to continue any LIBOR Loan at the end of its Interest Period as, a LIBOR Loan. During any Default or Event of Default, Agent may (and shall at the direction of
Required Lenders) declare that no Loan may be made, converted or continued as a LIBOR Loan. 
 (b) Whenever Borrowers desire to
convert or continue Loans as LIBOR Loans, Borrower Agent shall give Agent a Notice of Conversion/Continuation, no later than 11:00 a.m. at least three Business Days before the requested conversion or continuation date. Promptly after receiving any
such notice, Agent shall notify each Lender thereof. Each Notice of Conversion/Continuation shall be irrevocable, and shall specify the amount of Loans to be converted or continued, the conversion or continuation date (which shall be a Business
Day), and the duration of the Interest Period (which shall be deemed to be 30 days if not specified). If, upon the expiration of any Interest Period in respect of any LIBOR Loans, Borrowers shall have failed to deliver a Notice of
Conversion/Continuation, they shall be deemed to have elected to convert such Loans into Base Rate Loans. 
 3.1.3. Interest
Periods. In connection with the making, conversion or continuation of any LIBOR Loans, Borrowers shall select an interest period (“Interest Period”) to apply, which interest period shall be 30, 60, or 90 days; provided,
however, that: 
 (a) the Interest Period shall commence on the date the Loan is made or continued as, or converted into,
a LIBOR Loan, and shall expire on the numerically corresponding day in the calendar month at its end; 
 (b) if any Interest
Period commences on a day for which there is no corresponding day in the calendar month at its end or if such corresponding day falls after the last Business Day of such month, then the Interest Period shall expire on the last Business Day of such
month; and if any Interest Period would expire on a day that is not a Business Day, the period shall expire on the next Business Day; and 
 (c) no Interest Period shall extend beyond the Revolver Termination Date. 

3.2. Fees. 
 3.2.1. Unused Line Fee. Borrowers shall pay to Agent, for the Pro Rata benefit of Lenders, a fee equal to the Unused Line Margin per annum times the amount by which the Revolver Commitments exceed
the average daily balance of Revolver Loans and LC Obligations during any month. Such fee shall be payable in arrears, on the first day of each month and on the Commitment Termination Date. 

3.2.2. LC Facility Fees. Borrowers shall pay (a) to Agent, for the Pro Rata benefit of Lenders, a fee equal to the Applicable
Margin in effect for LIBOR Revolver Loans times the average daily maximum amount available to be drawn under outstanding Letters of Credit, which fee shall be payable monthly in arrears, on the first day of each month; (b) to Issuing Bank, for
its own account, a fronting fee equal to 0.125% per annum on the average daily maximum amount available to be drawn under each outstanding Letter of Credit, which fee shall be payable monthly in arrears, on the first day of each month; and
(c) to Issuing Bank, for its own account, all customary charges associated with the issuance, amending, negotiating, payment, processing, transfer and administration of Letters of Credit, which charges shall be paid as and when incurred. During
an Event of Default, the fee payable under clause (a) shall be increased by 2% per annum. 

  
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 3.2.3. Agent Fees. In consideration of Agent’s syndication of the Commitments
and service as Agent hereunder, Borrowers shall pay to Agent, for its own account, the fees described in the Fee Letter. 

3.3. Computation of Interest, Fees, Yield Protection. All interest, as well as fees and other charges calculated on a per
annum basis, shall be computed for the actual days elapsed, based on a year of 360 days. Each determination by Agent of any interest, fees or interest rate hereunder shall be final, conclusive and binding for all purposes, absent manifest error. All
fees shall be fully earned when due and shall not be subject to rebate, refund or proration. All fees payable under Section 3.2 are compensation for services and are not, and shall not be deemed to be, interest or any other charge for
the use, forbearance or detention of money. A certificate as to amounts payable by Borrowers under Section 3.4, 3.6, 3.7, 3.9 or 5.9, submitted to Borrower Agent by Agent or the affected Lender, as applicable,
shall be final, conclusive and binding for all purposes, absent manifest error, and Borrowers shall pay such amounts to the appropriate party within 10 days following receipt of the certificate. 

3.4. Reimbursement Obligations. Borrowers shall reimburse Agent and each Lender for all Extraordinary Expenses, except to
the extent provided to the contrary in Section 14.2. Borrowers shall also reimburse Agent for all legal, accounting, appraisal, consulting, and other fees, costs and expenses incurred by it in connection with (a) negotiation and
preparation of any Loan Documents, including any amendment or other modification thereof; (b) administration of and actions relating to any Collateral, Loan Documents and transactions contemplated thereby, including any actions taken to perfect
or maintain priority of Agent’s Liens on any Collateral, to maintain any insurance required hereunder or to verify Collateral; and (c) subject to the limits of Section 10.1.1(b), each inspection, audit or appraisal with respect
to any Obligor or Collateral, whether prepared by Agent’s personnel or a third party. All legal, accounting and consulting fees shall be charged to Borrowers by Agent’s professionals at their full hourly rates, regardless of any reduced or
alternative fee billing arrangements that Agent, any Lender or any of their Affiliates may have with such professionals with respect to this or any other transaction. If, for any reason (including inaccurate reporting on financial statements, a
Borrowing Base Certificate, or a Compliance Certificate), it is determined that a higher Applicable Margin or Unused Line Margin should have applied to a period than was actually applied, then the proper margin shall be applied retroactively and
Borrowers shall immediately pay to Agent, for the Pro Rata benefit of Lenders, an amount equal to the difference between the amount of interest and fees that would have accrued using the proper margin and the amount actually paid. All amounts
payable by Borrowers under this Section shall be due on demand. 
 3.5. Illegality. If any Lender determines that
any Applicable Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund LIBOR Loans, or to determine or charge interest rates based upon
LIBOR, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender to Agent, any
obligation of such Lender to make or continue LIBOR Loans or to convert Base Rate Loans to LIBOR Loans shall be suspended until such Lender notifies Agent that the circumstances giving rise to such determination no longer exist. Upon delivery of
such notice, Borrowers shall prepay or, if applicable, convert all LIBOR Loans of such Lender to Base Rate Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such LIBOR Loans to such day,
or immediately, if such Lender may not lawfully continue to maintain such LIBOR Loans. Upon any such prepayment or conversion, Borrowers shall also pay accrued interest on the amount so prepaid or converted. 

3.6. Inability to Determine Rates. If Agent determines, or if Required Lenders notify Agent, for any reason in connection
with a request for a Borrowing of, or conversion to or continuation 

  
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of, a LIBOR Loan that (a) Dollar deposits are not being offered to banks in the London interbank Eurodollar market for the applicable amount and Interest Period of such Loan,
(b) adequate and reasonable means do not exist for determining LIBOR for the requested Interest Period, or (c) LIBOR for the requested Interest Period does not adequately and fairly reflect the cost to such Lenders of funding such Loan,
then Agent will promptly so notify Borrower Agent and each Lender. Thereafter, the obligation of Lenders to make or maintain LIBOR Loans shall be suspended until Agent revokes such notice. Upon receipt of such notice, Borrower Agent may revoke any
pending request for a Borrowing of, conversion to or continuation of a LIBOR Loan or, failing that, will be deemed to have submitted a request for a Base Rate Loan. 
 3.7. Increased Costs; Capital Adequacy. 
 3.7.1. Change in
Law. If any Change in Law (other than any Change of Law by way of imposition or increase of Reserve Percentage included in determining LIBOR) shall: 
 (a) impose modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or
participated in by, any Lender (except any reserve requirement reflected in LIBOR) or Issuing Bank; 
 (b) subject any Lender or
Issuing Bank to any Tax with respect to any Loan, Loan Document, Letter of Credit or participation in LC Obligations, or change the basis of taxation of payments to such Lender or Issuing Bank in respect thereof (except for Indemnified Taxes or
Other Taxes covered by Section 5.9 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender or Issuing Bank); or 
 (c) impose on any Lender or Issuing Bank or the London interbank market any other condition, cost or expense affecting any Loan, Loan Document, Letter of Credit or participation in LC Obligations;

 and the result thereof shall be to increase the cost to such Lender of making or maintaining any LIBOR Loan (or of maintaining its obligation
to make any such Loan), or to increase the cost to such Lender or Issuing Bank of participating in, issuing or maintaining any Letter of Credit (or of maintaining its obligation to participate in or to issue any Letter of Credit), or to reduce the
amount of any sum received or receivable by such Lender or Issuing Bank hereunder (whether of principal, interest or any other amount) then, upon request of such Lender or Issuing Bank, Borrowers will pay to such Lender or Issuing Bank, as
applicable, such additional amount or amounts as will compensate such Lender or Issuing Bank, as applicable, for such additional costs incurred or reduction suffered. 
 3.7.2. Capital Adequacy. If any Lender or Issuing Bank determines that any Change in Law affecting such Lender or Issuing Bank or any Lending Office of such Lender or such Lender’s or Issuing
Bank’s holding company, if any, regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s, Issuing Bank’s or holding company’s capital as a consequence of this Agreement, or such
Lender’s or Issuing Bank’s Commitments, Loans, Letters of Credit or participations in LC Obligations, to a level below that which such Lender, Issuing Bank or holding company could have achieved but for such Change in Law (taking into
consideration such Lender’s, Issuing Bank’s and holding company’s policies with respect to capital adequacy), then from time to time Borrowers will pay to such Lender or Issuing Bank, as the case may be, such additional amount or
amounts as will compensate it or its holding company for any such reduction suffered. 

  
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 3.7.3. Compensation. Failure or delay on the part of any Lender or Issuing Bank to
demand compensation pursuant to this Section shall not constitute a waiver of its right to demand such compensation, but Borrowers shall not be required to compensate a Lender or Issuing Bank for any increased costs incurred or reductions suffered
more than nine months prior to the date that the Lender or Issuing Bank notifies Borrower Agent of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or Issuing Bank’s intention to claim compensation
therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine-month period referred to above shall be extended to include the period of retroactive effect thereof). 

3.8. Mitigation. If any Lender gives a notice under Section 3.5 or requests compensation under
Section 3.7, or if Borrowers are required to pay additional amounts with respect to a Lender under Section 5.9, then such Lender shall use reasonable efforts to designate a different Lending Office or to assign its rights and
obligations hereunder to another of its offices, branches or Affiliates, if, in the judgment of such Lender, such designation or assignment (a) would eliminate the need for such notice or reduce amounts payable or to be withheld in the future,
as applicable; and (b) would not subject the Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to it. Borrowers shall pay all reasonable costs and expenses incurred by any Lender in connection with any such
designation or assignment. 
 3.9. Funding Losses. If for any reason (other than default by a Lender) (a) any
Borrowing of, or conversion to or continuation of, a LIBOR Loan does not occur on the date specified therefor in a Notice of Borrowing or Notice of Conversion/Continuation (whether or not withdrawn), (b) any repayment or conversion of a LIBOR
Loan occurs on a day other than the end of its Interest Period, or (c) Borrowers fail to repay a LIBOR Loan when required hereunder, then Borrowers shall pay to Agent its customary administrative charge and to each Lender all losses and
expenses that it sustains as a consequence thereof, including loss of anticipated profits and any loss or expense arising from liquidation or redeployment of funds or from fees payable to terminate deposits of matching funds. Lenders shall not be
required to purchase Dollar deposits in the London interbank market or any other offshore Dollar market to fund any LIBOR Loan, but the provisions hereof shall be deemed to apply as if each Lender had purchased such deposits to fund its LIBOR Loans.

 3.10. Maximum Interest. Notwithstanding anything to the contrary contained in any Loan Document, the interest
paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by Applicable Law (“maximum rate”). If Agent or any Lender shall receive interest in an amount that exceeds the maximum
rate, the excess interest shall be applied to the principal of the Obligations or, if it exceeds such unpaid principal, refunded to Borrowers. In determining whether the interest contracted for, charged or received by Agent or a Lender exceeds the
maximum rate, such Person may, to the extent permitted by Applicable Law, (a) characterize any payment that is not principal as an expense, fee or premium rather than interest; (b) exclude voluntary prepayments and the effects thereof; and
(c) amortize, prorate, allocate and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 
 SECTION 4. LOAN ADMINISTRATION 
 4.1. Manner of Borrowing and
Funding Revolver Loans. 
 4.1.1. Notice of Borrowing. 

(a) Whenever Borrowers desire funding of a Borrowing of Revolver Loans, Borrower Agent shall give Agent a Notice of Borrowing. Such
notice must be received by Agent no later than 11:00 a.m. (i) on the Business Day of the requested funding date, in the case of Base Rate Loans, and 

  
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(ii) at least three Business Days prior to the requested funding date, in the case of LIBOR Loans. Notices received after 11:00 a.m. shall be deemed received on the next Business Day. Each Notice
of Borrowing shall be irrevocable and shall specify (A) the amount of the Borrowing, (B) the requested funding date (which must be a Business Day), (C) whether the Borrowing is to be made as Base Rate Loans or LIBOR Loans, and
(D) in the case of LIBOR Loans, the duration of the applicable Interest Period (which shall be deemed to be 30 days if not specified). 
 (b) Unless payment is otherwise timely made by Borrowers, the becoming due of any Obligations (whether principal, interest, fees or other charges, including Extraordinary Expenses, LC Obligations, Cash
Collateral and Bank Product Debt) shall be deemed to be a request for Base Rate Revolver Loans on the due date, in the amount of such Obligations. The proceeds of such Revolver Loans shall be disbursed as direct payment of the relevant Obligation.
In addition, Agent may, at its option, charge such Obligations against any operating, investment or other account of a Borrower maintained with Agent or any of its Affiliates. 
 (c) If Borrowers establish a controlled disbursement account with Agent or any Affiliate of Agent, then the presentation for payment of any check or other item of payment drawn on such account at a time
when there are insufficient funds to cover it shall be deemed to be a request for Base Rate Revolver Loans on the date of such presentation, in the amount of the check and items presented for payment. The proceeds of such Revolver Loans may be
disbursed directly to the controlled disbursement account or other appropriate account. 
 4.1.2. Fundings by Lenders.
Each Lender shall timely honor its Revolver Commitment by funding its Pro Rata share of each Borrowing of Revolver Loans that is properly requested hereunder. Except for Borrowings to be made as Swingline Loans, Agent shall endeavor to notify
Lenders of each Notice of Borrowing (or deemed request for a Borrowing) by 12:00 noon on the proposed funding date for Base Rate Loans or by 3:00 p.m. at least two Business Days before any proposed funding of LIBOR Loans. Each Lender shall fund to
Agent such Lender’s Pro Rata share of the Borrowing to the account specified by Agent in immediately available funds not later than 2:00 p.m. on the requested funding date, unless Agent’s notice is received after the times provided above,
in which event Lender shall fund its Pro Rata share by 11:00 a.m. on the next Business Day. Subject to its receipt of such amounts from Lenders, Agent shall disburse the proceeds of the Revolver Loans as directed by Borrower Agent. Unless Agent
shall have received (in sufficient time to act) written notice from a Lender that it does not intend to fund its Pro Rata share of a Borrowing, Agent may assume that such Lender has deposited or promptly will deposit its share with Agent, and Agent
may disburse a corresponding amount to Borrowers. If a Lender’s share of any Borrowing or of any settlement pursuant to Section 4.1.3(b) is not received by Agent, then Borrowers agree to repay to Agent on demand the amount of
such share, together with interest thereon from the date disbursed until repaid, at the rate applicable to the Borrowing. 

4.1.3. Swingline Loans; Settlement. 
 (a) Agent may, but shall not be obligated to, advance Swingline Loans to Borrowers, up to an aggregate outstanding amount of 15% of the aggregate Revolver Commitments, unless the funding is specifically
required to be made by all Lenders hereunder. Each Swingline Loan shall constitute a Revolver Loan for all purposes, except that payments thereon shall be made to Agent for its own account. The obligation of Borrowers to repay Swingline Loans shall
be evidenced by the records of Agent and need not be evidenced by any promissory note. 
 (b) To facilitate administration of
the Revolver Loans, Lenders and Agent agree (which agreement is solely among them, and not for the benefit of or enforceable by any Borrower) that settlement among them with respect to Swingline Loans and other Revolver Loans may take place on a

  
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date determined from time to time by Agent, which shall occur at least once each week. On each settlement date, settlement shall be made with each Lender in accordance with the Settlement Report
delivered by Agent to Lenders. Between settlement dates, Agent may in its discretion apply payments on Revolver Loans to Swingline Loans, regardless of any designation by Borrower or any provision herein to the contrary. Each Lender’s
obligation to make settlements with Agent is absolute and unconditional, without offset, counterclaim or other defense, and whether or not the Commitments have terminated, an Overadvance exists or the conditions in Section 6 are
satisfied. If, due to an Insolvency Proceeding with respect to a Borrower or otherwise, any Swingline Loan may not be settled among Lenders hereunder, then each Lender shall be deemed to have purchased from Agent a Pro Rata participation in each
unpaid Swingline Loan and shall transfer the amount of such participation to Agent, in immediately available funds, within one Business Day after Agent’s request therefor. 

4.1.4. Notices. Each Borrower authorizes Agent and Lenders to extend, convert or continue Loans, effect selections of interest
rates, and transfer funds to or on behalf of Borrowers based on telephonic or e-mailed instructions. Borrowers shall confirm each such request by prompt delivery to Agent of a Notice of Borrowing or Notice of Conversion/Continuation, if applicable,
but if it differs in any material respect from the action taken by Agent or Lenders, the records of Agent and Lenders shall govern. Neither Agent nor any Lender shall have any liability for any loss suffered by a Borrower as a result of Agent or any
Lender acting upon its understanding of telephonic or e-mailed instructions from a person believed in good faith by Agent or any Lender to be a person authorized to give such instructions on a Borrower’s behalf. 

4.2. Defaulting Lender. Agent may (but shall not be required to), in its discretion, retain any payments or other funds
received by Agent that are to be provided to a Defaulting Lender hereunder, and may apply such funds to such Lender’s defaulted obligations or readvance the funds to Borrowers in accordance with this Agreement. The failure of any Lender to fund
a Loan, to make any payment in respect of LC Obligations or to otherwise perform its obligations hereunder shall not relieve any other Lender of its obligations, and no Lender shall be responsible for default by another Lender. Lenders and Agent
agree (which agreement is solely among them, and not for the benefit of or enforceable by any Borrower) that, solely for purposes of determining a Defaulting Lender’s right to vote on matters relating to the Loan Documents (including the
granting of any consents or waivers) and to share in payments, fees and Collateral proceeds thereunder, a Defaulting Lender shall not be deemed to be a “Lender” until all its defaulted obligations have been cured. Notwithstanding anything
contained herein to the contrary, Borrowers reserve all of their rights and remedies against each Defaulting Lender to recover for any damages caused to Borrowers by such Defaulting Lender on account of such Default Lender’s failure to make any
payment or provide funds to Agent or any Borrower as required hereunder. 
 4.3. Number and Amount of LIBOR Loans;
Determination of Rate. Each Borrowing of LIBOR Loans when made shall be in a minimum amount of $1,000,000, plus any increment of $1,000,000 in excess thereof. No more than 5 Borrowings of LIBOR Loans may be outstanding at any time,
and all LIBOR Loans having the same length and beginning date of their Interest Periods shall be aggregated together and considered one Borrowing for this purpose. Upon determining LIBOR for any Interest Period requested by Borrowers, Agent shall
promptly notify Borrowers thereof by telephone or electronically and, if requested by Borrowers, shall confirm any telephonic notice in writing. 
 4.4. Borrower Agent. Each Borrower hereby designates Headwaters Resources, Inc., a Utah corporation (“Borrower Agent”) as its representative and agent for all purposes under the
Loan Documents, including requests for Loans and Letters of Credit, designation of interest rates, delivery or receipt of communications, preparation and delivery of Borrowing Base and financial reports, receipt and payment of Obligations, requests
for waivers, amendments or other accommodations, actions under the Loan Documents (including in respect of compliance with covenants), and all other dealings with Agent, 

  
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Issuing Bank or any Lender. Borrower Agent hereby accepts such appointment. Agent and Lenders shall be entitled to rely upon, and shall be fully protected in relying upon, any notice or
communication (including any notice of borrowing) delivered by Borrower Agent on behalf of any Borrower. Agent and Lenders may give any notice or communication with a Borrower hereunder to Borrower Agent on behalf of such Borrower. Each of Agent,
Issuing Bank and Lenders shall have the right, in its discretion, to deal exclusively with Borrower Agent for any or all purposes under the Loan Documents. Each Borrower agrees that any notice, election, communication, representation, agreement or
undertaking made on its behalf by Borrower Agent shall be binding upon and enforceable against it. 
 4.5. One
Obligation. The Loans, LC Obligations and other Obligations shall constitute one general obligation of Borrowers and (unless otherwise expressly provided in any Loan Document) shall be secured by Agent’s Lien upon all Collateral;
provided, however, that Agent and each Lender shall be deemed to be a creditor of, and the holder of a separate claim against, each Borrower to the extent of any Obligations jointly or severally owed by such Borrower. 

4.6. Effect of Termination. On the effective date of any termination of the Commitments, all Obligations shall be
immediately due and payable, and any Borrower or any Lender may terminate its and its Affiliates’ Bank Products (including, only with the consent of Agent, any Cash Management Services). All undertakings of Borrowers contained in the Loan
Documents shall survive any termination, and Agent shall retain its Liens in the Collateral and all of its rights and remedies under the Loan Documents until Full Payment of the Obligations. Notwithstanding Full Payment of the Obligations, Agent
shall not be required to terminate its Liens in any Collateral unless, with respect to any damages Agent may incur as a result of the dishonor or return of Payment Items applied to Obligations, Agent receives (a) a written agreement, executed
by Borrowers and any Person whose advances are used in whole or in part to satisfy the Obligations, indemnifying Agent and Lenders from any such damages; or (b) such Cash Collateral as Agent, in its discretion, deems necessary to protect
against any such damages. Sections 2.3, 3.4, 3.6, 3.7, 3.9, 5.5, 5.9, 5.10, 12, 14.2 and this Section, and the obligation of each Obligor and Lender with respect to each indemnity
given by it in any Loan Document, shall survive Full Payment of the Obligations and any release relating to this credit facility. 
 4.7. Assignment of Commitments Under Certain Circumstances. In the event that any Lender is a Defaulting Lender, then with respect to each such Defaulting Lender (a “Terminated
Lender”), Borrower Agent shall have the right, but not the obligation, at its own expense, upon notice to such Terminated Lender and Agent, to replace such Terminated Lender with an Eligible Assignee (in accordance with and subject to
restrictions of Section 13.2.4), and such Terminated Lender hereby agrees to transfer and assign without recourse (in accordance with and subject to the restrictions in Section 13.2.4) all its interests, rights and
obligations under the Loan Documents to such Eligible Assignee; provided, however, that no such Terminated Lender shall be obligated to make any such assignment unless (i) such assignment shall not conflict with any law,
rule, regulation or order of any Governmental Authority and (ii) such Terminated Lender shall have been paid in immediately available funds on the date of such assignment the principal of and interest accrued to the date of payment on the Loans
made by such Terminated Lender and all fees and other amounts accrued for such Terminated Lender’s account or owed to it hereunder. Each Lender agrees that, if it becomes a Terminated Lender, it shall execute and deliver to Agent an assignment
and acceptance agreement to evidence such sale and purchase and shall deliver to Agent any Notes subject to such assignment and acceptance; provided, however, that the failure of any Terminated Lender to execute an assignment and
acceptance shall not render such sale and purchase (and the corresponding assignment) invalid and Agent shall record such assignment in its books and records. 

  
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 SECTION 5. PAYMENTS 
 5.1. General Payment Provisions. All payments of Obligations shall be made in Dollars, without offset, counterclaim or defense of any kind, free of (and without deduction for) any Taxes, and
in immediately available funds, not later than 12:00 noon on the due date. Any payment after such time shall be deemed made on the next Business Day. Any payment of a LIBOR Loan prior to the end of its Interest Period shall be accompanied by all
amounts due under Section 3.9. Any prepayment of Loans shall be applied first to Base Rate Loans and then to LIBOR Loans. 
 5.2. Repayment of Revolver Loans. Revolver Loans shall be due and payable in full on the Revolver Termination Date, unless payment is sooner required hereunder. Revolver Loans may be prepaid
from time to time, without penalty or premium except as set forth in Section 3.9. If any Asset Disposition during any Dominion Trigger Period includes the disposition of Accounts or Inventory, then Net Proceeds equal to the greater of
(a) the net book value of such Accounts and Inventory, or (b) the reduction in the Borrowing Base upon giving effect to such disposition, shall be applied to the Revolver Loans. Notwithstanding anything herein to the contrary, if an
Overadvance exists, Borrowers shall, on the sooner of Agent’s demand or the first Business Day after any Borrower has knowledge thereof, repay the outstanding Revolver Loans in an amount sufficient to reduce the principal balance of Revolver
Loans to the Borrowing Base. 
 5.3. Intentionally Omitted. 

5.4. Payment of Other Obligations. Obligations other than Loans, including LC Obligations and Extraordinary Expenses, shall
be paid by Borrowers as provided in the Loan Documents or, if no payment date is specified, on demand. 
 5.5. Marshaling;
Payments Set Aside. None of Agent or Lenders shall be under any obligation to marshal any assets in favor of any Obligor or against any Obligations. If any payment by or on behalf of Borrowers is made to Agent, Issuing Bank or any Lender, or
Agent, Issuing Bank or any Lender exercises a right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to
any settlement entered into by Agent, Issuing Bank or such Lender in its discretion) to be repaid to a trustee, receiver or any other Person, then to the extent of such recovery, the Obligation originally intended to be satisfied, and all Liens,
rights and remedies relating thereto, shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred. 
 5.6. Post-Default Allocation of Payments. 
 5.6.1.
Allocation. Notwithstanding anything herein to the contrary, during an Event of Default, monies to be applied to the Obligations, whether arising from payments by Obligors, realization on Collateral, setoff or otherwise, shall be allocated as
follows: 
 (a) first, to all costs and expenses, including Extraordinary Expenses, owing to Agent; 

(b) second, to all Extraordinary Expenses owing to any Lender; 

(c) third, to all amounts owing to Agent on Swingline Loans; 

(d) fourth, to all amounts owing to Issuing Bank on LC Obligations; 

  
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 (e) fifth, to all Obligations constituting fees (excluding amounts relating to Bank
Products); 
 (f) sixth, to all Obligations constituting interest (excluding amounts relating to Bank Products);

 (g) seventh, to provide Cash Collateral for outstanding Letters of Credit; 

(h) eighth, to all other Obligations, other than Bank Product Debt; and 

(i) last, to Bank Product Debt. 
 Amounts shall be applied to each category of Obligations set forth above until Full Payment thereof and then to the next category. If amounts are insufficient to satisfy a category, they shall be applied
on a pro rata basis among the Obligations in the category. Amounts distributed with respect to any Bank Product Debt shall be the lesser of the applicable Bank Product Amount last reported to Agent or the actual Bank Product Debt as calculated by
the methodology reported to Agent for determining the amount due. Agent shall have no obligation to calculate the amount to be distributed with respect to any Bank Product Debt, but may rely upon written notice of the amount (setting forth a
reasonably detailed calculation) from the Secured Party. In the absence of such notice, Agent may assume the amount to be distributed is the Bank Product Amount last reported to it. The allocations set forth in this Section are solely to determine
the rights and priorities of Agent and Lenders as among themselves, and may be changed by agreement among all of the Lenders without the consent of any Obligor. This Section is not for the benefit of or enforceable by any Borrower. 

5.6.2. Erroneous Application. Agent shall not be liable for any application of amounts made by it in good faith and, if any such
application is subsequently determined to have been made in error, the sole recourse of any Lender or other Person to which such amount should have been made shall be to recover the amount from the Person that actually received it (and, if such
amount was received by any Lender, such Lender hereby agrees to return it). 
 5.7. Application of Payments. The
ledger balance in each Dominion Account as of the end of a Business Day shall be applied to the Obligations at the beginning of the next Business Day, at all times during a Dominion Trigger Period. If, as a result of such application, a credit
balance exists, the balance shall not accrue interest in favor of Borrowers and, as long as no Default or Event of Default exists, such credit balance shall be remitted by Agent as soon as practicable to the Designated Account. Each Borrower
irrevocably waives the right to direct the application of any payments or Collateral proceeds, and agrees that Agent shall have the continuing, exclusive right to apply and reapply same against the Obligations, in such manner as Agent deems
advisable. 
 5.8. Loan Account; Account Stated. 

5.8.1. Loan Account. Agent shall maintain in accordance with its usual and customary practices an account or accounts (“Loan
Account”) evidencing the Debt of Borrowers resulting from each Loan or issuance of a Letter of Credit from time to time. Any failure of Agent to record anything in the Loan Account, or any error in doing so, shall not limit or otherwise affect
the obligation of Borrowers to pay any amount owing hereunder. Agent may maintain a single Loan Account in the name of Borrower Agent, and each Borrower confirms that such arrangement shall have no effect on the joint and several character of its
liability for the Obligations. 

  
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 5.8.2. Entries Binding. Entries made in the Loan Account shall constitute presumptive
evidence of the information contained therein. If any information contained in the Loan Account is provided to or inspected by any Person, then such information shall be conclusive and binding on such Person for all purposes absent manifest error,
except to the extent such Person notifies Agent in writing within 30 days after receipt or inspection that specific information is subject to dispute. 
 5.9. Taxes. 
 5.9.1. Payments Free of Taxes. All payments by
Obligors of Obligations shall be free and clear of and without reduction for any Taxes. If Applicable Law requires any Obligor or Agent to withhold or deduct any Tax (including backup withholding or withholding Tax), the withholding or deduction
shall be based on information provided pursuant to Section 5.10 and Agent shall pay the amount withheld or deducted to the relevant Governmental Authority. If the withholding or deduction is made on account of Indemnified Taxes or Other
Taxes, the sum payable by Borrowers shall be increased so that Agent, Lender or Issuing Bank, as applicable, receives an amount equal to the sum it would have received if no such withholding or deduction (including deductions applicable to
additional sums payable under this Section) had been made. Without limiting the foregoing, Borrowers shall timely pay all Other Taxes to the relevant Governmental Authorities. 
 5.9.2. Payment. Borrowers shall indemnify, hold harmless and reimburse (within 10 days after demand therefor) Agent, Lenders and Issuing Bank for any Indemnified Taxes or Other Taxes (including
those attributable to amounts payable under this Section) withheld or deducted by any Obligor or Agent, or paid by Agent, any Lender or Issuing Bank, with respect to any Obligations, Letters of Credit or Loan Documents, whether or not such Taxes
were properly asserted by the relevant Governmental Authority, and including all penalties, interest and reasonable expenses relating thereto, as well as any amount that a Lender or Issuing Bank fails to pay indefeasibly to Agent under
Section 5.10. A certificate as to the amount of any such payment or liability delivered to Borrower Agent by Agent, or by a Lender or Issuing Bank (with a copy to Agent), shall be conclusive, absent manifest error. As soon as practicable
after any payment of Taxes by a Borrower, Borrower Agent shall deliver to Agent a receipt from the Governmental Authority or other evidence of payment satisfactory to Agent. 
 5.10. Lender Tax Information. 
 5.10.1. Status of Lenders.
Each Lender shall deliver documentation and information to Agent and Borrower Agent, at the times and in form required by Applicable Law or reasonably requested by Agent or Borrower Agent, sufficient to permit Agent or Borrowers to determine
(a) whether or not payments made with respect to Obligations are subject to Taxes, (b) if applicable, the required rate of withholding or deduction, and (c) such Lender’s entitlement to any available exemption from, or reduction
of, applicable Taxes for such payments or otherwise to establish such Lender’s status for withholding tax purposes in the applicable jurisdiction. 
 5.10.2. Documentation. If a Borrower is resident for tax purposes in the United States, any Lender that is a “United States person” within the meaning of section 7701(a)(30) of the Code
shall deliver to Agent and Borrower Agent IRS Form W-9 or such other documentation or information prescribed by Applicable Law or reasonably requested by Agent or Borrower Agent to determine whether such Lender is subject to backup withholding or
information reporting requirements. If any Foreign Lender is entitled to any exemption from or reduction of withholding tax for payments with respect to the Obligations, it shall deliver to Agent and Borrower Agent, on or prior to the date on which
it becomes a Lender hereunder (and from time to time thereafter upon request by Agent or Borrower Agent, but only if such Foreign Lender is legally entitled to do so), (a) IRS Form W-8BEN claiming eligibility for benefits of an income tax
treaty to which the United States is a party; (b) IRS Form W-8ECI; (c) IRS Form W-8IMY 

  
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and all required supporting documentation; (d) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under section 881(c) of the Code, IRS Form W-8BEN
and a certificate showing such Foreign Lender is not (i) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (ii) a “10 percent shareholder” of any Obligor within the meaning of section 881(c)(3)(B) of the
Code, or (iii) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code; or (e) any other form prescribed by Applicable Law as a basis for claiming exemption from or a reduction in withholding tax,
together with such supplementary documentation necessary to allow Agent and Borrowers to determine the withholding or deduction required to be made. 
 5.10.3. Lender Obligations. Each Lender and Issuing Bank shall promptly notify Borrowers and Agent of any change in circumstances that would change any claimed Tax exemption or reduction described
in Section 5.10.2. Each Lender and Issuing Bank shall indemnify, hold harmless and reimburse (within 10 days after demand therefor) Borrowers and Agent for any Taxes, losses, claims, liabilities, penalties, interest and expenses
(including reasonable attorneys’ fees) incurred by or asserted against a Borrower or Agent by any Governmental Authority due to such Lender’s or Issuing Bank’s failure to deliver, or inaccuracy or deficiency in, any documentation
required to be delivered by it pursuant to this Section 5.10.3. Each Lender and Issuing Bank authorizes Agent to set off any amounts due to Agent under this Section 5.10.3 against any amounts payable to such Lender or Issuing
Bank under any Loan Document. 
 5.11. Nature and Extent of Each Borrower’s Liability. 

5.11.1. Joint and Several Liability. Each Borrower agrees that it is jointly and severally liable for, and absolutely and
unconditionally guarantees to Agent and Lenders the prompt payment and performance of, all Obligations and all agreements under the Loan Documents. Each Borrower agrees that its guaranty obligations hereunder constitute a continuing guaranty of
payment and not of collection, that such obligations shall not be discharged until Full Payment of the Obligations, and that such obligations are absolute and unconditional, irrespective of (a) the genuineness, validity, regularity,
enforceability, subordination or any future modification of, or change in, any Obligations or Loan Document, or any other document, instrument or agreement to which any Obligor is or may become a party or be bound; (b) the absence of any action
to enforce this Agreement (including this Section) or any other Loan Document, or any waiver, consent or indulgence of any kind by Agent or any Lender with respect thereto; (c) the existence, value or condition of, or failure to perfect a Lien
or to preserve rights against, any security or guaranty for the Obligations or any action, or the absence of any action, by Agent or any Lender in respect thereof (including the release of any security or guaranty); (d) the insolvency of any
Obligor; (e) any election by Agent or any Lender in an Insolvency Proceeding for the application of Section 1111(b)(2) of the Bankruptcy Code; (f) any borrowing or grant of a Lien by any other Borrower, as debtor-in-possession under
Section 364 of the Bankruptcy Code or otherwise; (g) the disallowance of any claims of Agent or any Lender against any Obligor for the repayment of any Obligations under Section 502 of the Bankruptcy Code or otherwise; or (h) any
other action or circumstances that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, except Full Payment of all Obligations. 
 5.11.2. Waivers. 
 (a) Each Borrower expressly waives all rights that it
may have now or in the future under any statute, at common law, in equity or otherwise, to compel Agent or Lenders to marshal assets or to proceed against any Obligor, other Person or security for the payment or performance of any Obligations
before, or as a condition to, proceeding against such Borrower. Each Borrower waives all defenses available to a surety, guarantor or accommodation co-obligor other than Full Payment of all Obligations. It is agreed among each Borrower, Agent and
Lenders that the provisions of this Section 

  
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5.11 are of the essence of the transaction contemplated by the Loan Documents and that, but for such provisions, Agent and Lenders would decline to make Loans and issue Letters of Credit.
Each Borrower acknowledges that its guaranty pursuant to this Section is necessary to the conduct and promotion of its business, and can be expected to benefit such business. 
 (b) Agent and Lenders may, in their discretion, pursue such rights and remedies as they deem appropriate, including realization upon Collateral or any Real Estate Collateral by judicial foreclosure or
non-judicial sale or enforcement, without affecting any rights and remedies under this Section 5.11. If, in taking any action in connection with the exercise of any rights or remedies, Agent or any Lender shall forfeit any other rights
or remedies, including the right to enter a deficiency judgment against any Borrower or other Person, whether because of any Applicable Laws pertaining to “election of remedies” or otherwise, each Borrower consents to such action and
waives any claim based upon it, even if the action may result in loss of any rights of subrogation that any Borrower might otherwise have had. Any election of remedies that results in denial or impairment of the right of Agent or any Lender to seek
a deficiency judgment against any Borrower shall not impair any other Borrower’s obligation to pay the full amount of the Obligations. Each Borrower waives all rights and defenses arising out of an election of remedies, such as nonjudicial
foreclosure with respect to any security for the Obligations, even though that election of remedies destroys such Borrower’s rights of subrogation against any other Person. Agent may bid all or a portion of the Obligations at any foreclosure or
trustee’s sale or at any private sale, and the amount of such bid need not be paid by Agent but shall be credited against the Obligations. The amount of the successful bid at any such sale, whether Agent or any other Person is the successful
bidder, shall be conclusively deemed to be the fair market value of the Collateral, and the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations guaranteed
under this Section 5.11, notwithstanding that any present or future law or court decision may have the effect of reducing the amount of any deficiency claim to which Agent or any Lender might otherwise be entitled but for such bidding at
any such sale. 
 5.11.3. Extent of Liability; Contribution. (a) Notwithstanding anything herein to the contrary,
each Borrower’s liability under this Section 5.11 shall be limited to the greater of (i) all amounts for which such Borrower is primarily liable, as described below, and (ii) such Borrower’s Allocable Amount.

 (b) If any Borrower makes a payment under this Section 5.11 of any Obligations (other than amounts for which such
Borrower is primarily liable) (a “Guarantor Payment”) that, taking into account all other Guarantor Payments previously or concurrently made by any other Borrower, exceeds the amount that such Borrower would otherwise have paid if
each Borrower had paid the aggregate Obligations satisfied by such Guarantor Payments in the same proportion that such Borrower’s Allocable Amount bore to the total Allocable Amounts of all Borrowers, then such Borrower shall be entitled to
receive contribution and indemnification payments from, and to be reimbursed by, each other Borrower for the amount of such excess, pro rata based upon their respective Allocable Amounts in effect immediately prior to such Guarantor Payment. The
“Allocable Amount” for any Borrower shall be the maximum amount that could then be recovered from such Borrower under this Section 5.11 without rendering such payment voidable under Section 548 of the Bankruptcy
Code or under any applicable state fraudulent transfer or conveyance act, or similar statute or common law. 
 (c) Nothing
contained in this Section 5.11 shall limit the liability of any Borrower to pay Loans made directly or indirectly to that Borrower (including Loans advanced to any other Borrower and then re-loaned or otherwise transferred to, or for the
benefit of, such Borrower), LC Obligations relating to Letters of Credit issued to support such Borrower’s business, and all accrued interest, fees, expenses and other related Obligations with respect thereto, for which such Borrower shall be
primarily liable for all purposes hereunder. 

  
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 5.11.4. Joint Enterprise. Each Borrower has requested that Agent and Lenders make
this credit facility available to Borrowers on a combined basis, in order to finance Borrowers’ business most efficiently and economically. Borrowers’ business is a mutual and collective enterprise, and Borrowers believe that consolidation
of their credit facility will enhance the borrowing power of each Borrower and ease the administration of their relationship with Lenders, all to the mutual advantage of Borrowers. Borrowers acknowledge and agree that Agent’s and Lenders’
willingness to extend credit to Borrowers and to administer the Collateral on a combined basis, as set forth herein, is done solely as an accommodation to Borrowers and at Borrowers’ request. 

5.11.5. Subordination. Each Borrower hereby subordinates any claims, including any rights at law or in equity to payment,
subrogation, reimbursement, exoneration, contribution, indemnification or set off, that it may have at any time against any other Obligor, howsoever arising, to the Full Payment of all Obligations. 

SECTION 6. CONDITIONS PRECEDENT 
 6.1. Conditions Precedent to Initial Loans. In addition to the conditions set forth in Section 6.2, Lenders shall not be required to fund any requested Loan, issue any Letter of
Credit, or otherwise extend credit to Borrowers hereunder, until the date (“Closing Date”) that each of the following conditions has been satisfied: 
 (a) Notes shall have been executed by Borrowers and delivered to each Lender that requests issuance of a Note. Each other Loan Document shall have been duly executed and delivered to Agent by each of the
signatories thereto, and each Obligor shall be in compliance with all terms thereof. 
 (b) Agent shall have received
acknowledgments of all filings or recordations necessary to perfect its Liens in the Collateral, as well as UCC and Lien searches and other evidence satisfactory to Agent that such Liens are the only Liens upon the Collateral, except Permitted
Liens. 
 (c) Agent shall have received duly executed agreements establishing each Dominion Account and related lockbox, in form
and substance, and with financial institutions, satisfactory to Agent. 
 (d) Agent shall have received certificates, in form
and substance satisfactory to it, from a knowledgeable Senior Officer of each Borrower certifying that, after giving effect to the initial Loans and transactions hereunder, (i) such Borrower is Solvent; (ii) no Default or Event of Default
exists; (iii) the representations and warranties set forth in Section 9 are true and correct; and (iv) such Borrower has complied with all agreements and conditions to be satisfied by it under the Loan Documents. 

(e) Agent shall have received a certificate of a duly authorized officer of each Obligor, certifying (i) that attached copies of
such Obligor’s Organic Documents are true and complete, and in full force and effect, without amendment except as shown; (ii) that an attached copy of resolutions authorizing execution and delivery of the Loan Documents is true and
complete, and that such resolutions are in full force and effect, were duly adopted, have not been amended, modified or revoked, and constitute all resolutions adopted with respect to this credit facility; and (iii) to the title, name and
signature of each Person authorized to sign the Loan Documents. Agent may conclusively rely on this certificate until it is otherwise notified by the applicable Obligor in writing. 

(f) Agent shall have received a written opinion of Pillsbury Winthrop Shaw Pittman LLP, as well as local counsel to Borrowers and Parent
in Utah and Michigan, each in form and substance satisfactory to Agent. 

  
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 (g) Agent shall have received copies of the charter documents of each Obligor, certified by
the Secretary of State or other appropriate official of such Obligor’s jurisdiction of organization. Agent shall have received good standing certificates for each Obligor, issued by the Secretary of State or other appropriate official of such
Obligor’s jurisdiction of organization and each jurisdiction where such Obligor’s conduct of business or ownership of Property necessitates qualification. 
 (h) Agent shall have received copies of policies or certificates of insurance for the insurance policies carried by Borrowers, all in compliance with the Loan Documents, together with endorsements naming
Agent as lender loss payee or additional insured, as appropriate, each in form and substance satisfactory to Agent. 
 (i) Agent
shall have completed its business, financial and legal due diligence of Obligors, including a roll-forward of its previous field examination, with results satisfactory to Agent. No material adverse change in the business, operations, Properties,
prospects or condition (financial or otherwise) of any Obligor or in the quality, quantity or value of any Collateral shall have occurred since September 30, 2008. 
 (j) Agent shall have received, each in form and substance satisfactory to Agent, interim financial statements not more than 30 days prior to the Closing Date for: (i) Parent and its Subsidiaries on a
consolidated basis; and (ii) Parent and its Subsidiaries on a consolidating basis (but only on a group by group basis for each of the HRI Group, the Eldorado Group, the SCP Group, and the Tapco Group). 

(k) Borrowers shall have paid all fees and expenses to be paid to Agent and Lenders on the Closing Date. 

(l) The Intercreditor Agreement shall have been duly executed and delivered to Agent by each of the signatories thereto, and be in form
and substance satisfactory to each Lender in their sole discretion. 
 (m) Agent shall have received a listing of the
Borrowers’ Account Debtors, including the name and address of each such Account Debtor. 
 (n) Agent shall have received a
Borrowing Base Certificate prepared as of the Closing Date. Upon giving effect to the initial funding of Loans and issuance of Letters of Credit, and the payment by Borrowers of all fees and expenses incurred in connection herewith as well as any
payables stretched beyond their customary payment practices, Availability shall be at least $20,000,000. 
 (o) Consummation of
Refinancing. 
 (i) On or prior to the Closing Date, all Debt of the Parent and its Subsidiaries under the Existing Credit
Agreement and all documentation related thereto shall have been repaid in full, together with all fees and other amounts owing thereon, all commitments thereunder shall have been terminated and all letters of credit issued pursuant thereto shall
have been terminated. 
 (ii) On the Closing Date, all security interests in respect of, and Liens securing, the Debt under the
Existing Credit Agreement created pursuant to the security documentation relating thereto shall have been terminated and released, and the Agent shall have received all such releases as may have been requested by the Agent, which releases shall be
in form and substance satisfactory to the Agent. Without limiting the foregoing, there shall have been delivered to the Agent (i) proper termination statements (Form UCC-3 or the appropriate equivalent in each relevant jurisdiction)

  
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for filing under the UCC or equivalent statute or regulation of each relevant jurisdiction where a financing statement or application for registration (Form UCC-1 or the appropriate equivalent in
each relevant jurisdiction) was filed with respect to the Parent or any of its Subsidiaries in connection with the security interests created with respect to the Existing Credit Agreement, (ii) terminations or reassignments of any security
interest in, or Lien on, any patents, trademarks, copyrights, or similar interests of the Parent or any of its Subsidiaries on which filings have been made and (iii) terminations of all mortgages, leasehold mortgages, hypothecs and deeds of
trust created with respect to property of the Parent or any of its Subsidiaries, in each case, to secure the obligations under the Existing Credit Agreement, all of which shall be in form and substance satisfactory to the Agent. 

(p) On the Closing Date, (i) Agent shall have received true and correct copies of the Senior Secured Notes Documents certified as
such by an authorized officer of Parent, (ii) all Senior Secured Notes Documents and all the terms and conditions thereof shall be in form and substance reasonably satisfactory to Agent and (iii) the Senior Secured Notes shall
have been issued and all Senior Secured Notes Documents shall be in full force and effect. All conditions precedent to the Closing Date (as defined in the purchase agreement related to the Senior Secured Notes), as set forth in
the Senior Secured Notes, shall have been satisfied, and not waived unless consented to by the Agent, to the reasonable satisfaction of the Agent. 
 6.2. Conditions Precedent to All Credit Extensions. Agent, Issuing Bank and Lenders shall not be required to fund any Loans, arrange for issuance of any Letters of Credit or grant any other
accommodation to or for the benefit of Borrowers, unless the following conditions are satisfied: 
 (a) No Default or Event of
Default shall exist at the time of, or result from, such funding, issuance or grant; 
 (b) The representations and warranties
of each Obligor in the Loan Documents shall be true and correct on the date of, and upon giving effect to, such funding, issuance or grant (except for representations and warranties that expressly relate to an earlier date); 

(c) All conditions precedent in any other Loan Document shall be satisfied; 

(d) No event shall have occurred or circumstance exist since the Closing Date that has or could reasonably be expected to have a Material
Adverse Effect; and 
 (e) With respect to issuance of a Letter of Credit, the LC Conditions shall be satisfied. 

Each request (or deemed request) by Borrowers for funding of a Loan, issuance of a Letter of Credit or grant of an accommodation shall constitute a
representation by Borrowers that the foregoing conditions are satisfied on the date of such request and on the date of such funding, issuance or grant. As an additional condition to any funding, issuance or grant, Agent shall have received such
other information, documents, instruments and agreements as it deems appropriate in connection therewith. 
 SECTION 7. COLLATERAL

 7.1. Grant of Security Interest. To secure the prompt payment and performance of all Obligations, each
Borrower hereby grants to Agent, for the benefit of Secured Parties, a continuing security interest in and Lien upon all Property of such Borrower, including all of the following Property, whether now owned or hereafter acquired, and wherever
located: 

  
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 (a) all Accounts; 
 (b) all Chattel Paper, including electronic chattel paper; 
 (c) all Commercial
Tort Claims, including those shown on Schedule 9.1.16; 
 (d) all Deposit Accounts; 

(e) all Documents; 
 (f) all General Intangibles, including Intellectual Property; 
 (g) all Goods,
including Inventory, Equipment and fixtures; 
 (h) all Instruments; 

(i) all Investment Property; 
 (j) all Letter-of-Credit Rights; 
 (k) all Supporting Obligations; 

(l) all monies, whether or not in the possession or under the control of Agent, a Lender, or a bailee or Affiliate of Agent or a Lender,
including any Cash Collateral; 
 (m) all accessions to, substitutions for, and all replacements, products, and cash and
non-cash proceeds of the foregoing, including proceeds of and unearned premiums with respect to insurance policies, and claims against any Person for loss, damage or destruction of any Collateral; and 

(n) all books and records (including customer lists, files, correspondence, tapes, computer programs, print-outs and computer records)
pertaining to the foregoing. 
 7.2. Lien on Deposit Accounts; Cash Collateral. 

7.2.1. Deposit Accounts. To further secure the prompt payment and performance of all Obligations, each Borrower hereby grants to
Agent, for the benefit of Secured Parties, a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such Borrower, including any sums in any blocked or lockbox accounts or in any accounts into which such sums
are swept. Each Borrower hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any Deposit Account maintained by such Borrower, without inquiry into the authority or right of Agent to make
such request. 
 7.2.2. Cash Collateral. Any Cash Collateral may be invested, at Agent’s discretion, in Cash
Equivalents, but Agent shall have no duty to do so, regardless of any agreement or course of dealing with any Borrower, and shall have no responsibility for any investment or loss. Each Borrower hereby grants to Agent, for the benefit of Secured
Parties, a security interest in all Cash Collateral held from time to time and all proceeds thereof, as security for the Obligations, whether such Cash Collateral is held in a Cash Collateral Account or elsewhere. Agent may apply Cash Collateral to
the payment of any Obligations, in such order as Agent may elect, as they become due and payable. Each Cash Collateral Account and all Cash Collateral shall be under the sole dominion and control of Agent. No Borrower or other Person claiming
through or on behalf of any Borrower shall have any right to any Cash Collateral, until Full Payment of all Obligations. 

  
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 7.3. Lien on Real Estate. Within sixty (60) days after receipt of one or
more requests by Agent, the Borrowers will execute and deliver Mortgages, in form and substance satisfactory to Agent, upon the Real Estate Collateral owned by Borrowers (along with the corresponding Related Real Estate Documents) as specified by
Agent in each such request; provided that no Mortgage shall be required to be provided to Agent with respect to any specific Real Estate Collateral if the costs to the Borrowers of providing such Mortgage and corresponding Related Real Estate
Documents are unreasonably excessive (as determined by Agent in consultation with Borrower Agent) in relation to the benefits to Agent and the Lenders of the security afforded thereby. Any such Mortgages shall be duly recorded, at Borrowers’
expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Estate covered thereby. 
 7.4. Other Collateral. 
 7.4.1. Commercial Tort
Claims. Borrowers shall promptly notify Agent in writing if any Borrower has a Commercial Tort Claim (other than, as long as no Default or Event of Default exists, a Commercial Tort Claim for less than $100,000), shall promptly amend Schedule
9.1.16 to include such claim, and shall take such actions as Agent deems appropriate to subject such claim to a duly perfected, (subject to the priorities established in the Intercreditor Agreement) first priority Lien in favor of Agent (for the
benefit of Secured Parties). 
 7.4.2. Certain After-Acquired Collateral. Borrowers shall promptly notify Agent in
writing if, after the Closing Date, any Borrower obtains any interest in any Collateral consisting of Deposit Accounts, Intellectual Property, or Investment Property and, upon Agent’s request, shall promptly take such actions as Agent deems
appropriate to effect Agent’s duly perfected, (subject to the priorities established in the Intercreditor Agreement) first priority Lien upon such Collateral (other than Intellectual Property only to the extent of its registration or pending
registration outside of the United States), including obtaining any appropriate possession, control agreement or Lien Waiver. Borrowers shall promptly notify Agent in writing if, after the Closing Date, any Borrower obtains any interest in any
Collateral consisting of Chattel Paper, Documents, Instruments, or Letter-of-Credit Rights, in each case to the extent that the aggregate amount of such Collateral (along with all other Collateral of the same type previously obtained and not
disclosed) exceeds $100,000, and, upon Agent’s request, shall promptly take such actions as Agent deems appropriate to effect Agent’s duly perfected, (subject to the priorities established in the Intercreditor Agreement) first priority
Lien upon such Collateral, including obtaining any appropriate possession, control agreement or Lien Waiver. If any Collateral is in the possession of a third party, at Agent’s request, Borrowers shall obtain an acknowledgment that such third
party holds the Collateral for the benefit of Agent. 
 7.5. No Assumption of Liability. The Lien on Collateral
granted hereunder is given as security only and shall not subject Agent or any Lender to, or in any way modify, any obligation or liability of Borrowers relating to any Collateral. 

7.6. Further Assurances. Promptly upon request, Borrowers shall deliver such instruments, assignments, title certificates,
or other documents or agreements, and shall take such actions, as Agent reasonably deems appropriate under Applicable Law to evidence or perfect its Lien on any Collateral (other than Intellectual Property only to the extent of its registration or
pending registration outside of the United States), or otherwise to give effect to the intent of this Agreement. Each Borrower authorizes Agent to file any financing statement that Agent deems reasonably desirable to preserve and perfect
Agent’s security interest in the Collateral of such Borrower, and ratifies any action taken by Agent before the Closing Date to effect or perfect its Lien on any Collateral. 

  
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 7.7. Foreign Subsidiary Stock. Notwithstanding Section 7.1, the
Collateral shall include only 65% of the voting stock of any Foreign Subsidiary. 
 SECTION 8. COLLATERAL ADMINISTRATION 

8.1. Borrowing Base Certificates. By the 15th day of each month, Borrowers shall deliver to Agent (and
Agent shall promptly deliver same to Lenders) a Borrowing Base Certificate prepared as of the close of business of the previous month, and at such other times as Agent may request; provided that during any Reporting Trigger Period, Borrowers
shall be required to deliver to Agent: (i) weekly Borrowing Base Certificates by the second Business Day of each week which begins during such Reporting Trigger Period; and (ii) monthly Borrowing Base Certificates by the 15th day of each month, prepared as of the close of business of the
previous month. All calculations of Availability in any Borrowing Base Certificate shall originally be made by Borrowers and certified by a Senior Officer, provided that Agent may from time to time review and adjust any such calculation
(a) to reflect its reasonable estimate of declines in value of any Collateral, due to collections received in the Dominion Accounts or otherwise; (b) to adjust advance rates to reflect changes in dilution, quality, mix and other factors
affecting Collateral; and (c) to the extent the calculation is not made in accordance with this Agreement or does not accurately reflect the Availability Reserve. 
 8.2. Administration of Accounts. 
 8.2.1.
Records and Schedules of Accounts. Each Borrower shall keep accurate and complete records of its Accounts, including all payments and collections thereon, and shall submit to Agent sales, collection, reconciliation and other reports in form
satisfactory to Agent, on such periodic basis as Agent may request. Each Borrower shall also provide to Agent, on or before the 15th day of each month, a summary aged trial balance of all Accounts as of the end of the preceding month. Upon
Agent’s request, each Borrower shall provide to Agent a detailed aged trial balance of all Accounts as of the end of the preceding month, specifying each Account’s Account Debtor name, amount, invoice date and due date, showing any
discount, allowance, credit, authorized return or dispute, and upon request by Agent, including such proof of delivery, copies of invoices and invoice registers, copies of related documents, repayment histories, status reports and other information
as Agent may reasonably request. If Accounts in an aggregate face amount of $1,000,000 or more cease to be Eligible Accounts since delivery of the last Borrowing Base Certificate other than as a result of payment thereof, Borrowers shall notify
Agent of such occurrence promptly (and in any event within one Business Day) after any Borrower has knowledge thereof. Upon request by Agent, but no less than once per year, each Borrower shall provide to Agent a listing of each Account
Debtor’s address. 
 8.2.2. Taxes. If an Account of any Borrower includes a charge for any Taxes and an Event of
Default has occurred and is continuing, Agent is authorized, in its discretion, to pay the amount thereof to the proper taxing authority for the account of such Borrower and to charge Borrowers therefor; provided, however, that neither
Agent nor Lenders shall be liable for any Taxes that may be due from Borrowers or with respect to any Collateral. 
 8.2.3.
Account Verification. Whether or not a Default or Event of Default exists, Agent shall have the right at any time, in the name of Agent, any designee of Agent or any Borrower, to verify the validity, amount or any other matter relating to any
Accounts of Borrowers by mail, telephone or otherwise. Borrowers shall cooperate fully with Agent in an effort to facilitate and promptly conclude any such verification process. 

8.2.4. Maintenance of Dominion Account. Borrowers shall maintain Dominion Accounts pursuant to lockbox or other arrangements
acceptable to Agent. Borrowers shall obtain an 

  
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agreement (in form and substance satisfactory to Agent) from each lockbox servicer and Dominion Account bank, establishing Agent’s control over and Lien in the lockbox or Dominion Account,
which may be exercised by Agent at any time during a Dominion Trigger Period, requiring immediate deposit of all remittances received in the lockbox to a Dominion Account, and waiving offset rights of such servicer or bank, except for customary
administrative charges. As soon as reasonably practical after the date hereof, but in no even longer than six (6) months after the date hereof, Borrowers shall establish lockbox services and open Dominion Accounts at Bank of America and close
all lockboxes and Dominion Accounts which are not maintained with Bank of America. Agent and Lenders assume no responsibility to Borrowers for any lockbox arrangement or Dominion Account, including any claim of accord and satisfaction or release
with respect to any Payment Items accepted by any bank. 
 8.2.5. Proceeds of Revolver Priority Collateral. Borrowers
shall request in writing and otherwise take all necessary steps to ensure that all payments on Accounts or otherwise relating to Revolver Priority Collateral are made directly to a Dominion Account (or a lockbox relating to a Dominion Account). If
any Borrower or Subsidiary receives cash or Payment Items with respect to any Revolver Priority Collateral, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account. 

8.3. Administration of Inventory. 

8.3.1. Records and Reports of Inventory. Each Borrower shall keep accurate and complete records of its
Inventory, including costs and daily withdrawals and additions, and shall submit to Agent, (i) no later than the
15th day after the end of each calendar month, inventory
reconciliation reports in form satisfactory to Agent, prepared as of the last day of the previous month (such reconciliation reports to include, without limitation, a reconciliation of the Borrowing Base reported to Agent with the Borrowers’
general ledger and other financial statements), and (ii) promptly upon Agent’s request from time to time, such other Inventory reports. Each Borrower shall conduct a physical inventory at least once per calendar year (and on a more
frequent basis if requested by Agent when an Event of Default exists) and periodic cycle counts consistent with historical practices, and shall provide to Agent a report based on each such inventory and count promptly upon completion thereof,
together with such supporting information as Agent may request. Agent may participate in and observe each physical count. 

8.3.2. Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash,
credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all
Inventory returned since delivery of the last Borrowing Base Certificate exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to a Dominion Account. 

8.3.3. Acquisition, Sale and Maintenance. No Borrower shall acquire or accept any Inventory on consignment or approval, and shall
take all steps to assure that all Inventory is produced in accordance with Applicable Law, including the FLSA. No Borrower shall sell any Inventory on consignment or approval or any other basis under which the customer may return or require a
Borrower to repurchase such Inventory. Borrowers shall use, store and maintain all Inventory with reasonable care and caution, in accordance with applicable standards of any insurance and in conformity with all Applicable Law, and shall make current
rent payments (within applicable grace periods provided for in leases) at all locations where any Collateral is located. 

8.4. Administration of Equipment. 

  
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 8.4.1. Records and Schedules of Equipment. Each Borrower shall keep records of its
Equipment that are accurate and complete in all material respects, including kind, quality, quantity, cost, acquisitions and dispositions thereof, and shall submit to Agent, on such periodic basis as Agent may request, a current schedule thereof, in
form satisfactory to Agent. Promptly upon request, Borrowers shall deliver to Agent evidence of their ownership or interests in any Equipment. 
 8.4.2. Administration of Equipment. The Equipment necessary for the continued operation of Borrowers’ business is in good operating condition and repair, and all necessary replacements and
repairs have been made so that Borrowers can continue the operation of their business. 
 8.5. Administration of Deposit
Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than
as excused by the penultimate sentence of this Section 8.5 and other than any account exclusively used for payroll, payroll taxes or employee benefits). A Borrower shall be the sole account holder of each Deposit Account and shall not
allow any other Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend
Schedule 8.5 to reflect same. Notwithstanding the foregoing, Borrowers shall not be required to establish Agent’s control over a Deposit Account listed on Schedule 8.5 to the extent that: (i) the aggregate amount on deposit
with such Deposit Account does not exceed $15,000 at any time; and (ii) the aggregate amount on deposit with all such Deposit Accounts for which there is not in effect a Deposit Account Control Agreement does not exceed $200,000 at any time.
For clarification, each Borrower agrees that at no time shall the aggregate amount on deposit in all Deposit Accounts for which there is not in effect a Deposit Account Control Agreement exceed $200,000. 

8.6. General Provisions. 
 8.6.1. Location of Collateral. All tangible items of Collateral, other than Inventory in transit, shall at all times be kept by Borrowers at the business locations set forth in Schedule
8.6.1, except that Borrowers may (a) make sales or other dispositions of Collateral in accordance with Section 10.2.6; and (b) move Collateral to another location in the United States, upon 30 Business Days prior written
notice to Agent. 
 8.6.2. Insurance of Collateral; Condemnation Proceeds. 

(a) Each Borrower shall maintain insurance with respect to the Collateral, covering casualty, hazard, theft, malicious mischief, flood
and other risks, in amounts, with endorsements and with insurers (with a Best Rating of at least A7, unless otherwise approved by Agent) satisfactory to Agent. All proceeds under each policy shall be payable to Agent with respect to the Collateral.
From time to time upon request, Borrowers shall deliver to Agent the originals or certified copies of its insurance policies and, with respect to Real Estate Collateral, updated flood plain searches. Unless Agent shall agree otherwise, each policy
shall include satisfactory endorsements (i) showing Agent as lender loss payee; (ii) requiring 30 days prior written notice to Agent in the event of cancellation of the policy for any reason whatsoever; and (iii) specifying that the
interest of Agent shall not be impaired or invalidated by any act or neglect of any Borrower or the owner of the Property, nor by the occupation of the premises for purposes more hazardous than are permitted by the policy. If any Borrower fails to
provide and pay for any insurance, Agent may, at its option, but shall not be required to, procure the insurance and charge Borrowers therefor. Each Borrower agrees to deliver to Agent: (i) promptly as rendered, copies of all claims made to
insurance companies with respect to each casualty event causing more than $100,000 of damage or destruction to the Collateral; and (ii) such additional information and reports regarding 

  
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insurance as requested by Agent from time to time. While no Event of Default exists, Borrowers may settle, adjust or compromise any insurance claim, as long as the proceeds are delivered to Agent
in accordance with Section 8.6.2(b). If an Event of Default exists, only Agent shall be authorized to settle, adjust and compromise any claims involving any Collateral. 

(b) Any proceeds of insurance relating to the Collateral and any awards arising from condemnation of any Collateral shall be paid to
Agent. Any such proceeds or awards that relate to Inventory that is Collateral shall be applied to payment of the Revolver Loans, and then to any other Obligations outstanding. 

8.6.3. Protection of Collateral. All expenses of protecting, storing, warehousing, insuring, handling, maintaining and
shipping any Collateral, all Taxes payable with respect to any Collateral (including any sale thereof), and all other payments required to be made by Agent to any Person to realize upon any Collateral, shall be borne and paid by Borrowers. Agent
shall not be liable or responsible in any way for the safekeeping of any Collateral, for any loss or damage thereto (except for reasonable care in its custody while Collateral is in Agent’s actual possession), for any diminution in the value
thereof, or for any act or default of any warehouseman, carrier, forwarding agency or other Person whatsoever, but the same shall be at Borrowers’ sole risk. 
 8.6.4. Defense of Title to Collateral. Each Borrower shall at all times defend its title to Collateral and Agent’s Liens therein against all Persons, claims and demands whatsoever, except
Permitted Liens. 
 8.7. Power of Attorney. Each Borrower hereby irrevocably constitutes and appoints Agent (and
all Persons designated by Agent) as such Borrower’s true and lawful attorney (and agent-in-fact) for the purposes provided in this Section. Agent, or Agent’s designee, may, without notice and in either its or a Borrower’s name, but at
the cost and expense of Borrowers: 
 (a) Endorse a Borrower’s name on any Payment Item or other proceeds of Collateral
(including proceeds of insurance) that come into Agent’s possession or control; and 
 (b) During an Event of Default,
(i) notify any Account Debtors of the assignment of their Accounts, demand and enforce payment of Accounts by legal proceedings or otherwise, and generally exercise any rights and remedies with respect to Accounts; (ii) settle, adjust,
modify, compromise, discharge or release any Accounts or other Collateral, or any legal proceedings brought to collect Accounts or Collateral; (iii) sell or assign any Accounts and other Collateral upon such terms, for such amounts and at such
times as Agent deems advisable; (iv) collect, liquidate and receive balances in Deposit Accounts or investment accounts, and take control, in any manner, of proceeds of Collateral; (v) prepare, file and sign a Borrower’s name to a
proof of claim or other document in a bankruptcy of an Account Debtor, or to any notice, assignment or satisfaction of Lien or similar document; (vi) receive, open and dispose of mail addressed to a Borrower, and notify postal authorities to
deliver any such mail to an address designated by Agent; (vii) endorse any Chattel Paper, Document, Instrument, bill of lading, or other document or agreement relating to any Accounts, Inventory or other Collateral; (viii) use a
Borrower’s stationery and sign its name to verifications of Accounts and notices to Account Debtors; (ix) use information contained in any data processing, electronic or information systems relating to Collateral; (x) make and adjust
claims under insurance policies; (xi) take any action as may be necessary or appropriate to obtain payment under any letter of credit, banker’s acceptance or other instrument for which a Borrower is a beneficiary; and (xii) take all
other actions as Agent deems appropriate to fulfill any Borrower’s obligations under the Loan Documents. 

  
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 SECTION 9. REPRESENTATIONS AND WARRANTIES 

9.1. General Representations and Warranties. To induce Agent and Lenders to enter into this Agreement and to make available
the Commitments, Loans and Letters of Credit, each Borrower represents and warrants that: 
 9.1.1. Organization and
Qualification. Each Borrower and Subsidiary is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization. Each Borrower and Subsidiary is duly qualified, authorized to do business and in good
standing as a foreign entity in each jurisdiction where failure to be so qualified could reasonably be expected to have a Material Adverse Effect. 
 9.1.2. Power and Authority. Each Obligor is duly authorized to execute, deliver and perform its Loan Documents. The execution, delivery and performance of the Loan Documents have been duly
authorized by all necessary action, and do not (a) require any consent or approval of any holders of Equity Interests of any Obligor, other than those already obtained; (b) contravene the Organic Documents of any Obligor; (c) violate
or cause a default under any Applicable Law or Material Contract; or (d) result in or require the imposition of any Lien (other than Permitted Liens) on any Property of any Obligor. 

9.1.3. Enforceability. Each Loan Document is a legal, valid and binding obligation of each Obligor party thereto, enforceable in
accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by general principles of equity. 

9.1.4. Capital Structure. Schedule 9.1.4 shows, for each Borrower and Subsidiary (a) its name and its jurisdiction of
organization (as the same may be updated in writing by Borrowers from time to time after the Closing Date so long as such updates are done prior to or concurrently with any changes to such information (or within 10 days thereof in the case of the
formation of new Subsidiaries so long as Borrowers are in compliance with Section 10.1.9)), and (b) as of the Closing Date, its authorized and issued Equity Interests, the holders of its Equity Interests, and all agreements binding
on such holders with respect to their Equity Interests, provided that upon request by Agent on dates after the Closing Date, Borrowers shall provide updated information with respect to such items required under this clause (b). Except as
disclosed on Schedule 9.1.4, in the five years preceding the Closing Date, no Borrower or Domestic Subsidiary has acquired any substantial assets from any other Person nor been the surviving entity in a merger or combination. Each Borrower
has good title to its Equity Interests in its Subsidiaries, subject only to Permitted Liens, and all such Equity Interests are duly issued, fully paid and non-assessable. There are no outstanding purchase options, warrants, subscription rights,
agreements to issue or sell, convertible interests, phantom rights or powers of attorney relating to Equity Interests of any Borrower or Subsidiary. 
 9.1.5. Title to Properties; Priority of Liens. Each Borrower and Subsidiary has good and marketable title to (or valid leasehold interests in) all of its Real Estate, and good title to all of its
personal Property, including all Property reflected in any financial statements delivered to Agent or Lenders, in each case free of Liens except Permitted Liens. Each Borrower and Subsidiary has paid and discharged all lawful claims that, if unpaid,
could become a Lien on its Properties, other than Permitted Liens. All Liens of Agent in the Collateral, other than Exempt Property, are duly perfected, first priority Liens, subject only to Permitted Liens that are expressly allowed to have
priority over Agent’s Liens (for clarification, Permitted Liens that are expressly allowed to have priority over Agent’s Liens include the Liens of the Senior Secured Notes Collateral Agent to the extent such Liens have priority over
Agent’s Liens pursuant to the terms of the Intercreditor Agreement). 

  
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 9.1.6. Accounts. Agent may rely, in determining which Accounts are Eligible Accounts,
on all statements and representations made by Borrowers with respect thereto. Borrowers warrant, with respect to each Account at the time it is shown as an Eligible Account in a Borrowing Base Certificate, that: 

(a) it is genuine and in all respects what it purports to be, and has not been reduced to judgment; 

(b) it arises out of a completed, bona fide sale and delivery of goods or rendition of services in the Ordinary Course of Business, and
substantially in accordance with any purchase order, contract or other document relating thereto; 
 (c) it is for a sum
certain, maturing as stated in the invoice covering such sale or rendition of services, a copy of which has been furnished or is available to Agent on request; 
 (d) it is not subject to potential offset, Lien (other than Agent’s Lien and other Permitted Liens), deduction, defense, dispute, counterclaim or other adverse condition except as arising in the
Ordinary Course of Business and disclosed to Agent; and it is absolutely owing by the Account Debtor, without contingency in any respect; 
 (e) no purchase order, agreement, document or Applicable Law restricts assignment of the Account to Agent (regardless of whether, under the UCC, the restriction is ineffective), except with respect to
Accounts owing by the United States or any State, department, agency or instrumentality thereof and the Assignment of Claims Act or any similar State or local law, if applicable, have been complied with in a manner satisfactory to Agent, and the
applicable Borrower is the sole payee or remittance party shown on the invoice; 
 (f) no extension, compromise, settlement,
modification, credit, deduction or return has been authorized with respect to the Account, except discounts or allowances granted in the Ordinary Course of Business for prompt payment that are reflected on the face of the invoice related thereto and
in the reports submitted to Agent hereunder; and 
 (g) to the best of Borrowers’ knowledge, (i) there are no facts or
circumstances that are reasonably likely to impair the enforceability or collectibility of such Account; (ii) the Account Debtor had the capacity to contract when the Account arose, continues to meet the applicable Borrower’s customary
credit standards, is Solvent, is not contemplating or subject to an Insolvency Proceeding, and has not failed, or suspended or ceased doing business; and (iii) there are no proceedings or actions threatened or pending against any Account Debtor
that could reasonably be expected to have a material adverse effect on the Account Debtor’s financial condition. 
 9.1.7.
Financial Statements. The consolidated and consolidating balance sheets, and related statements of income, cash flow and shareholder’s equity, of Borrowers and Subsidiaries that have been and are hereafter delivered to Agent and Lenders,
are prepared in accordance with GAAP, and fairly present the financial positions and results of operations of Borrowers and Subsidiaries at the dates and for the periods indicated, subject to, in the case of unaudited financial statements, changes
resulting from audit, normal year end audit adjustments and the absence of footnotes. All projections delivered from time to time to Agent and Lenders have been prepared in good faith, based on reasonable assumptions in light of the circumstances at
such time, it being understood that forecasts and projections are subject to uncertainties and contingencies and no assurance can be given that any forecast or projection will be realized. Since September 30, 2008, or as disclosed to Agent in
writing through the Closing Date, there has been no change in the condition, financial or otherwise, of any Borrower or Subsidiary that could 

  
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reasonably be expected to have a Material Adverse Effect. No financial statement delivered to Agent or Lenders at any time contains any untrue statement of a material fact, nor fails to disclose
any material fact necessary to make such statement not materially misleading. Each Borrower and Subsidiary is Solvent. 
 9.1.8.
Surety Obligations. No Borrower or Subsidiary is obligated as surety or indemnitor under any bond or other contract that assures payment or performance of any obligation of any Person, except as permitted hereunder. 

9.1.9. Taxes. Each Borrower and Subsidiary has filed all federal, state and material local tax returns and other reports that it
is required by law to file (for clarification, subject to allowable extensions), and has paid, or made provision for the payment of, all Taxes upon it, its income and its Properties that are due and payable, except: (a) to the extent being
Properly Contested, (b) local Taxes in an amount which in the aggregate for all such local Taxes, does not exceed $50,000. The provision for Taxes on the books of each Borrower and Subsidiary is adequate for all years not closed by applicable
statutes, and for its current Fiscal Year. 
 9.1.10. Brokers. There are no brokerage commissions, finder’s fees or
investment banking fees payable in connection with any transactions contemplated by the Loan Documents. 
 9.1.11.
Intellectual Property. Each Borrower and Subsidiary owns or has the lawful right to use all Intellectual Property necessary for the conduct of its business, without conflict with any rights of others. There is no pending or, to any
Borrower’s knowledge, threatened Intellectual Property Claim with respect to any Borrower, any Subsidiary or any of their Property (including any Intellectual Property). Except as disclosed on Schedule 9.1.11 (as the same may be updated
in writing by Borrowers from time to time after the Closing Date), no Borrower or Subsidiary pays or owes any Royalty or other compensation to any Person with respect to any Intellectual Property. All Intellectual Property owned or used by any
Borrower or Subsidiary that is registered or subject to a pending application for registration, and all Licenses (other than license agreements for commercially available off-the-shelf software that is generally available to the public) of any
Borrower or Subsidiary, is shown on Schedule 9.1.11 (as the same shall be updated in writing by Borrowers after the Closing Date once each 120 days). 
 9.1.12. Governmental Approvals. Each Borrower and Subsidiary has, is in compliance with, and is in good standing with respect to, all Governmental Approvals necessary to conduct its business and to
own, lease and operate its Properties, except where noncompliance could not reasonably be expected to have a Material Adverse Effect. All necessary import, export or other licenses, permits or certificates for the import or handling of any goods or
other Collateral have been procured and are in effect, and Borrowers and Subsidiaries have complied with all foreign and domestic laws with respect to the shipment and importation of any goods or Collateral, except where noncompliance could not
reasonably be expected to have a Material Adverse Effect. 
 9.1.13. Compliance with Laws. Each Borrower and Subsidiary
has duly complied, and its Properties and business operations are in compliance, in all material respects with all Applicable Law, except where noncompliance could not reasonably be expected to have a Material Adverse Effect. There have been no
citations, notices or orders of material noncompliance issued to any Borrower or Subsidiary under any Applicable Law which could reasonably be expected to have a Material Adverse Effect. No Inventory has been produced by any Borrower or Guarantor in
violation of the FLSA. 
 9.1.14. Compliance with Environmental Laws. No Borrower’s or Subsidiary’s past or
present operations, Real Estate or other Properties are subject to any federal, state or local investigation to determine whether any remedial action is needed to address any environmental pollution, hazardous material or environmental clean-up
except as disclosed on Schedule 9.1.14 or that could not reasonably 

  
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be expected to have Material Adverse Effect. No Borrower or Subsidiary has received any Environmental Notice which could reasonably be expected to have a Material Adverse Effect. No Borrower or
Subsidiary has any contingent liability with respect to any Environmental Release, environmental pollution or hazardous material on any Real Estate now or previously owned, leased or operated by it which could reasonably be expected to have a
Material Adverse Effect. 
 9.1.15. Burdensome Contracts. No Borrower or Subsidiary is a party or subject to any
contract, agreement or charter restriction that could reasonably be expected to have a Material Adverse Effect. No Borrower or Subsidiary is party or subject to any Restrictive Agreement, except as shown on Schedule 9.1.15. No such
Restrictive Agreement prohibits the execution, delivery or performance of any Loan Document by an Obligor. 
 9.1.16.
Litigation. Except as shown on Schedule 9.1.16, there are no proceedings or investigations pending or, to any Borrower’s knowledge, threatened against any Borrower or Subsidiary, or any of their businesses, operations, Properties,
prospects or conditions, that (a) relate to any Loan Documents or transactions contemplated thereby; or (b) could reasonably be expected to have a Material Adverse Effect if determined adversely to any Borrower or Subsidiary. Except as
shown on such Schedule, no Obligor has a Commercial Tort Claim (other than, as long as no Default or Event of Default exists, a Commercial Tort Claim for less than $100,000). No Borrower or Subsidiary is in default with respect to any order,
injunction or judgment of any Governmental Authority. 
 9.1.17. No Defaults. No event or circumstance has occurred or
exists that constitutes a Default or Event of Default. No Borrower or Subsidiary is in default, and no event or circumstance has occurred or exists that with the passage of time or giving of notice would constitute a default, under any Material
Contract or in the payment of any Borrowed Money. There is no basis upon which any party (other than a Borrower or Subsidiary) could terminate a Material Contract prior to its scheduled termination date. 

9.1.18. ERISA. Except as disclosed on Schedule 9.1.18: 

(a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code, and other federal and state
laws, except where noncompliance could not reasonably be expected to have a Material Adverse Effect. Each Plan that is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS or an
application for such a letter is currently being processed (or will be processed prior to the end of the applicable remedial amendment period for such Plan) by the IRS with respect thereto and, to the knowledge of Borrowers, nothing has occurred
which would prevent, or cause the loss of, such qualification. Each Obligor and ERISA Affiliate has made all required contributions to each Plan subject to Section 412 of the Code, and no application for a funding waiver or an extension of any
amortization period pursuant to Section 412 of the Code has been made with respect to any Plan. 
 (b) There are no pending
or, to the knowledge of Borrowers, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited
transaction or a breach of fiduciary duties under ERISA or applicable state law rules with respect to any Plan that has resulted in or could reasonably be expected to have a Material Adverse Effect. 

(c) Except as could not reasonably be expected to result in an aggregate liability of the Obligors in excess of $1,000,000 for all such
events, (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability; (iii) no Obligor or ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and
no event has occurred 

  
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which, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Section 4201 or 4243 of ERISA with respect to a Multiemployer Plan; and (iv) no
Obligor or ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or 4212(c) of ERISA. 
 (d)
Except as could not reasonably be expected to result in an aggregate liability of the Obligors in excess of $1,000,000 for all such events, with respect to any Foreign Plan, (i) all employer and employee contributions required by law or by the
terms of the Foreign Plan have been made, or, if applicable, accrued, in accordance with normal accounting practices; (ii) the fair market value of the assets of each funded Foreign Plan, the liability of each insurer for any Foreign Plan
funded through insurance, or the book reserve established for any Foreign Plan, together with any accrued contributions, is sufficient to procure or provide for the accrued benefit obligations with respect to all current and former participants in
such Foreign Plan according to the actuarial assumptions and valuations most recently used to account for such obligations in accordance with applicable generally accepted accounting principles; and (iii) it has been registered as required and
has been maintained in good standing with applicable regulatory authorities. 
 9.1.19. Trade Relations. There exists no
actual or threatened termination, limitation or modification of any business relationship between any Borrower or Subsidiary and any customer or supplier, or any group of customers or suppliers, who individually or in the aggregate are material to
the business of such Borrower or Subsidiary. There exists no condition or circumstance that could reasonably be expected to impair the ability of any Borrower or Subsidiary to conduct its business at any time hereafter in substantially the same
manner as conducted on the Closing Date. 
 9.1.20. Labor Relations. Except as described on Schedule 9.1.20, no
Borrower or Subsidiary is party to or bound by any collective bargaining agreement, management agreement or consulting agreement. There are no material grievances, disputes or controversies with any union or other organization of any Borrower’s
or Subsidiary’s employees. To each Borrower’s knowledge, there are no asserted or threatened strikes, work stoppages or demands for collective bargaining which if occurred would have a Material Adverse Effect. 

9.1.21. Payable Practices. No Borrower or Subsidiary has made any material change in its historical accounts payable practices
from those in effect on the Closing Date. 
 9.1.22. Not a Regulated Entity. No Obligor is (a) an “investment
company” or a “person directly or indirectly controlled by or acting on behalf of an investment company” within the meaning of the Investment Company Act of 1940; or (b) subject to regulation under the Federal Power Act, the
Interstate Commerce Act, any public utilities code or any other Applicable Law regarding its authority to incur Debt. 
 9.1.23.
Margin Stock. No Borrower or Subsidiary is engaged, principally or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying any Margin Stock. No Loan proceeds or Letters of Credit will
be used by Borrowers to purchase or carry, or to reduce or refinance any Debt incurred to purchase or carry, any Margin Stock or for any related purpose governed by Regulations T, U or X of the Board of Governors. 

9.2. Complete Disclosure. No Loan Document contains any untrue statement of a material fact, nor fails to disclose any
material fact necessary to make the statements contained therein not materially misleading (it being understood that forecasts and projections are subject to uncertainties and contingencies and no assurance can be given that any forecast or
projection will be realized). There is no fact or circumstance that any Obligor has failed to disclose to Agent in writing that could reasonably be expected to have a Material Adverse Effect. 

  
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 SECTION 10. COVENANTS AND CONTINUING AGREEMENTS 

10.1. Affirmative Covenants. As long as any Commitments or Obligations are outstanding, each Borrower shall, and shall cause
each Subsidiary to: 
 10.1.1. Inspections; Appraisals. 

(a) Permit Agent from time to time, subject (except when a Default or Event of Default exists) to reasonable notice and during normal
business hours, to visit and inspect the Properties of any Borrower or Subsidiary, inspect, audit and make extracts from any Borrower’s or Subsidiary’s books and records, and discuss with its officers, employees, agents, advisors and
independent accountants such Borrower’s or Subsidiary’s business, financial condition, assets, prospects and results of operations. Lenders may participate in any such visit or inspection, at their own expense. Neither Agent nor any Lender
shall have any duty to any Borrower to make any inspection, nor to share any results of any inspection, appraisal or report with any Borrower. Borrowers acknowledge that all inspections, appraisals and reports are prepared by Agent and Lenders for
their purposes, and Borrowers shall not be entitled to rely upon them. 
 (b) Reimburse Agent for all charges, costs and
expenses of Agent in connection with (i) examinations of any Obligor’s books and records or any other financial or Collateral matters as Agent deems appropriate, up to four times per Loan Year; and (ii) appraisals of Inventory up to
two times per Loan Year; provided, however, that if an examination or appraisal is initiated during a Default or Event of Default, all charges, costs and expenses therefor shall be reimbursed by Borrowers without regard to such limits.
Subject to and without limiting the foregoing, Borrowers specifically agree to pay Agent’s then standard charges for each day that an employee of Agent or its Affiliates is engaged in any examination activities, and shall pay the standard
charges of Agent’s internal appraisal group. This Section shall not be construed to limit Agent’s right to conduct examinations or to obtain appraisals at any time in its discretion, nor to use third parties for such purposes. 

10.1.2. Financial and Other Information. Keep adequate records and books of account with respect to its business activities, in
which proper entries are made in accordance with GAAP reflecting all financial transactions; and furnish to Agent and Lenders: 

(a) as soon as available, and in any event within 120 days after the close of each Fiscal Year, balance sheets as of the end of such
Fiscal Year and the related statements of income, cash flow and shareholders’ equity for such Fiscal Year, on consolidated and consolidating bases for Parent and its Subsidiaries, which consolidated statements shall be audited and certified
(without qualification) by a firm of independent certified public accountants of recognized standing selected by Borrowers and acceptable to Agent, and shall set forth in comparative form corresponding figures for the preceding Fiscal Year and other
information acceptable to Agent; 
 (b) as soon as available, and in any event within 30 days after the end of each month
(including, without limitation, the last month of each Fiscal Year), unaudited balance sheets as of the end of such month and the related statements of income and cash flow for such month and for the portion of the Fiscal Year then elapsed, on
consolidated and consolidating bases for Parent and its Subsidiaries, setting forth in comparative form corresponding figures for the preceding Fiscal Year and certified by the chief financial officer of Borrower Agent as prepared in accordance with
GAAP and fairly presenting the financial position and results of operations for such month and period, subject to normal year-end adjustments and the absence of footnotes; 

  
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 (c) concurrently with delivery of financial statements under clauses (a) and
(b) above, or more frequently if requested by Agent while a Default or Event of Default exists, (i) a Compliance Certificate executed by the chief financial officer of Borrower Agent, (ii) a reconciliation of Accounts and Inventory to
the Borrower Base Certificates (previously submitted to Agent) and Borrowers’ general ledgers, (iii) a detailed calculation of Excess Availability for such month, (iv) a detailed calculation of the Line Usage for such month, and
(v) any updates to the extent required by Section 9.1.11; 
 (d) concurrently with delivery of financial
statements under clause (a) above, copies of all management letters and other material reports submitted to Borrowers by their accountants in connection with such financial statements; 

(e) not later than 30 days prior to the end of each Fiscal Year, substantially final draft projections of Parent’s and
Borrowers’ consolidated balance sheets, results of operations, cash flow and Availability for the next Fiscal Year, month by month; and not later than 45 days after the end of each Fiscal Year final projections of Parent’s and
Borrowers’ consolidated balance sheets, results of operations, cash flow and Availability for the next Fiscal Year, month by month; 
 (f) no later than the 15th day after the end of each calendar month, a listing of each Borrower’s trade payables prepared as of the last day of the previous month, specifying the trade creditor and balance due, and a detailed
trade payable aging, all in form satisfactory to Agent; 
 (g) at Agent’s request, (i) a detailed aging of
Borrowers’ Accounts, and (ii) a detailed report of Borrowers’ Inventory by location; 
 (h) promptly after the
sending or filing thereof, copies of any proxy statements, financial statements or reports that Parent or any Borrower has made generally available to its shareholders; copies of any regular, periodic and special reports or registration statements
or prospectuses that Parent or any Borrower files with the Securities and Exchange Commission or any other Governmental Authority, or any securities exchange; and copies of any press releases or other statements made available by Parent or a
Borrower to the public concerning material changes to or developments in the business of Parent or such Borrower; 
 (i)
promptly after the sending or filing thereof, copies of any annual report to be filed in connection with each Plan or Foreign Plan; and 
 (j) concurrently with delivery of financial statements under clauses (a) and (b) above, or more frequently if requested by Agent, an update, in form and detail satisfactory to Agent, as to the
status of the Boynton Litigation; 
 (k) such other reports and information (financial or otherwise) as Agent may request from
time to time in connection with any Collateral or any Borrower’s, Subsidiary’s or other Obligor’s financial condition or business. 
 Simultaneously with retaining accountants for their annual audit, Borrowers shall send a letter to the accountants, with a copy to Agent and Lenders, notifying the accountants that one of the primary
purposes for retaining their services and obtaining audited financial statements is for use by Agent and Lenders. Agent is authorized: (a) to send such notice if Borrowers fail to do so for any reason; and (b) to speak directly with such
accountants regarding the Borrowers and Guarantors (and Borrower Agent shall have a reasonable opportunity to participate in any such discussions between Agent and such accountants). 

  
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 10.1.3. Notices. Notify Agent and Lenders in writing, promptly after a
Borrower’s obtaining knowledge thereof, of any of the following that affects an Obligor: (a) the threat or commencement of any proceeding or investigation, whether or not covered by insurance, if an adverse determination is reasonably
possible and could reasonably be expected to have a Material Adverse Effect; (b) any pending or threatened labor dispute, strike or walkout which involves any group of employees of Borrowers, or the expiration of any material labor contract;
(c) any default under or termination of a Material Contract (for clarification, any renewal or replacement of a Material Contract which is consummated on substantially similar terms shall not constitute a termination for purposes of this clause
(c)); (d) the existence of any Default or Event of Default; (e) any judgment in an amount exceeding $1,000,000; (f) the assertion of any Intellectual Property Claim, if an adverse resolution could reasonably be expected to have a
Material Adverse Effect; (g) the institution of any proceeding against a Borrower or Guarantor with respect to, or the receipt of notice by a Borrower or Guarantor of potential liability or responsibility for, any violation or asserted
violation of any Applicable Law (including ERISA, OSHA, FLSA, or any Environmental Laws), if an adverse resolution could reasonably be expected to have a Material Adverse Effect; (h) any Environmental Release by an Obligor or on any Property
owned, leased or occupied by an Obligor if such Environmental Release could reasonably be expected to have a Material Adverse Effect; or receipt of any Environmental Notice if an adverse resolution could reasonably be expected to have a Material
Adverse Effect; (i) the occurrence of any ERISA Event; (j) the discharge of or any withdrawal or resignation by Borrowers’ independent accountants; or (k) any opening of a new office or place of business, at least 30 days prior
to such opening. 
 10.1.4. Landlord and Storage Agreements. Upon request, provide Agent with copies of all existing
agreements, and promptly after execution thereof provide Agent with copies of all future agreements, between an Obligor and any landlord, warehouseman, processor, shipper, bailee or other Person that owns any premises at which any Collateral may be
kept or that otherwise may possess or handle any Collateral. 
 10.1.5. Compliance with Laws. Comply with all Applicable
Laws, including ERISA, Environmental Laws, FLSA, OSHA, Anti-Terrorism Laws, and laws regarding collection and payment of Taxes, and maintain all Governmental Approvals necessary to the ownership of its Properties or conduct of its business, unless
failure to comply (other than failure to comply with Anti-Terrorism Laws) or maintain could not reasonably be expected to have a Material Adverse Effect. Without limiting the generality of the foregoing, if any Environmental Release occurs which
could reasonably be expected to have a Material Adverse Effect at or on any Properties of any Borrower or Subsidiary, it shall act promptly and diligently to investigate and report to Agent and, to the extent required by Applicable Law, all
appropriate Governmental Authorities the extent of, and to make appropriate remedial action to eliminate, such Environmental Release, whether or not directed to do so by any Governmental Authority. 

10.1.6. Taxes. Pay and discharge all Taxes prior to the date on which they become delinquent or penalties attach, unless such
Taxes are being Properly Contested. 
 10.1.7. Insurance. In addition to the insurance required hereunder with respect to
Collateral, maintain insurance with insurers (with a Best Rating of at least A7, unless otherwise approved by Agent) satisfactory to Agent, (a) with respect to the Properties and business of Borrowers and Subsidiaries of such type (including
product liability, workers’ compensation, larceny, embezzlement, or other criminal misappropriation insurance), in such amounts, and with such coverages and deductibles as are customary for companies similarly situated; and (b) business
interruption insurance in an amount not less than $50,000,000, with deductibles satisfactory to Agent. 
 10.1.8.
Licenses. Keep each License affecting any Collateral (including the manufacture, distribution or disposition of Inventory) or any other material Property of Borrowers and 

  
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Subsidiaries in full force and effect, except to the extent any such License is no longer required for the conduct of Borrowers’ business or the failure to maintain such License could not
reasonably be expected to have a Material Adverse Effect; once every 90 days, notify Agent of any modifications to any such Licenses, or entry into any such new Licenses affecting any Inventory; pay all Royalties under such Licenses when due; and
notify Agent of any default or breach asserted by any Person to have occurred under any such License. 
 10.1.9. Future
Subsidiaries. Promptly (and in any event within 10 days thereof) notify Agent upon any Person becoming a Subsidiary and, if such Person is not a Foreign Subsidiary, cause it to, at Agent’s election, become a Borrower hereunder or guaranty
the Obligations in a manner satisfactory to Agent, and to execute and deliver such documents, instruments and agreements and to take such other actions as Agent shall require to evidence and perfect a Lien in favor of Agent (for the benefit of
Secured Parties) on all assets of such Person, including delivery of such legal opinions, in form and substance satisfactory to Agent, as it shall deem appropriate. 
 10.2. Negative Covenants. As long as any Commitments or Obligations are outstanding, each Borrower shall not, and shall cause each Subsidiary not to: 

10.2.1. Permitted Debt. Create, incur, guarantee or suffer to exist any Debt, except: 

(a) the Obligations; 
 (b) Subordinated Debt; 
 (c) Permitted Purchase Money Debt; 

(d) Borrowed Money (other than the Obligations, Subordinated Debt and Permitted Purchase Money Debt), but only to the extent outstanding
on the Closing Date and not satisfied with proceeds of the initial Loans; 
 (e) Bank Product Debt and, to the extent approved
by Agent, Debt arising under Hedging Agreements; 
 (f) Permitted Contingent Obligations; 

(g) So long as upon fair and reasonable terms and no less favorable than would be obtained in a comparable arm’s length transaction
with a non-Affiliate: (i) Borrowed Money of any Borrower owing to another Borrower, and (ii) Borrowed Money of any Guarantor owing to another Guarantor. 
 (h) Debt and cash management obligations in respect of netting services, automatic clearinghouse arrangements, overdraft protectors, employee credit card programs and other cash management an similar
arrangements, in the Ordinary Course of Business; 
 (i) Debt arising from the honoring by a bank or other financial institution
of a check, draft or similar instrument drawn against insufficient funds in the Ordinary Course of Business or other cash management services in the Ordinary Course of Business; 

(j) Refinancing Debt as long as each Refinancing Condition is satisfied; 

  
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 (k) Subject to the terms of the Intercreditor Agreement, Debt of any Borrower or any
Guarantor outstanding at any time under the Senior Secured Notes Documents in an aggregate principal amount not to exceed $328,250,000 in the aggregate; 
 (l) Debt constituting Capital Leases in an aggregate principal amount not exceeding $30,000,000 at any time outstanding (including all Capital Leases existing on the Closing Date); 

(m) Debt with respect to deferred compensation to employees of Borrowers and Guarantors in the Ordinary Course of Business in an
aggregate amount not to exceed $1,000,000 at any one time outstanding; 
 (n) Subject to the aggregate cap on Permitted
Acquisitions, as set forth in the definition thereof, earn-out obligations, working capital adjustments, purchase price and similar adjustments and indemnification obligations under the agreements entered into in connection with any Permitted
Acquisition; and 
 (o) Debt that is not included in any of the preceding clauses of this Section, is not secured by a Lien and
does not exceed $5,000,0000 in the aggregate at any time. 
 For purposes of determining compliance with this Section 10.2.1, in the
event that an item of Debt meets the criteria of more than one of the categories of Debt described in clause (a) through (o) above, Borrowers may, in their sole discretion, classify and reclassify or later divide, classify or reclassify
such item of Debt (or any portion thereof) and will only be required to include the amount and type of such Debt in one or more of the above clauses. 
 10.2.2. Permitted Liens. Create or suffer to exist any Lien upon any of its Property, except the following (collectively, “Permitted Liens”): 

(a) Liens in favor of Agent; 
 (b) Purchase Money Liens securing Permitted Purchase Money Debt; 
 (c) Liens for
Taxes not yet due or being Properly Contested; 
 (d) statutory Liens (including statutory Liens of landlords and Liens of
carriers, warehousemen, mechanics and materialmen and other Liens imposed by law, but excluding Liens for Taxes or imposed under ERISA) arising in the Ordinary Course of Business, but only if (i) payment of the obligations secured thereby is
not yet due or is being Properly Contested, and (ii) such Liens do not materially impair the value or use of the Property or materially impair operation of the business of any Borrower or Subsidiary; 

(e) Liens incurred or deposits made in the Ordinary Course of Business to secure the performance of tenders, bids, leases, contracts
(except those relating to Borrowed Money), statutory obligations, surety or appeal bonds, performance bonds and other similar obligations, or arising as a result of progress payments under government contracts, as long as such Liens are at all times
junior to Agent’s Liens; 
 (f) Liens arising out of pledges or deposits of cash in the Ordinary Course of Business under
worker’s compensation laws, unemployment insurance, old age pensions, or other social security or retirement benefits, or similar legislation; 

  
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 (g) statutory Liens of suppliers imposed by law or pursuant to customary reservations or
retentions of title, provided that: (i) such Liens do not attach to Collateral with a value of more than $250,000 at any time, (ii) such Liens arise in the Ordinary Course of Business, and (iii) any such Liens are not perfected
and are subordinated under law to the Liens in favor of Agent; 
 (h) Liens arising in the Ordinary Course of Business that are
subject to Lien Waivers; 
 (i) Liens arising by virtue of a judgment or judicial order against any Borrower or Subsidiary, or
any Property of a Borrower or Subsidiary, as long as such Liens are (i) in existence for less than 20 consecutive days or being Properly Contested, and (ii) at all times junior to Agent’s Liens; 

(j) easements, reservations, rights-of-way, restrictions, survey exceptions, covenants or other agreements of record, and other similar
charges or encumbrances on Real Estate, that do not secure any monetary obligation and do not interfere with the Ordinary Course of Business; 
 (k) normal and customary rights of setoff upon deposits in favor of depository institutions, and Liens of a collecting bank on Payment Items in the course of collection; 

(l) any interest of title of a lessor under, and Liens arising from UCC financing statements (or equivalent filings, registrations or
agreements in foreign jurisdictions) relating to, leases permitted by this Agreement; 
 (m) so long as such Liens are subject
to the terms of the Intercreditor Agreement, Liens securing Debt arising under the Senior Secured Notes Documents; 
 (n)
existing Liens shown on Schedule 10.2.2; 
 (o) Liens arising in connection with Capitalized Leases permitted under
Section 10.2.1(l); 
 (p) Liens securing Debt permitted under Section 10.2.1(d), provided that
such Liens shall be subject to an intercreditor agreement in form an substance acceptable to the Required Lenders and shall be junior in priority to the Liens securing the Obligations; 

(q) Liens in respect of judgments that do not otherwise cause a Default or Event of Default; 

(r) leases or subleases of Real Estate granted to others not interfering in any material respect with the business of any Borrower or
Guarantor; and 
 (s) other Liens securing Debt in an aggregate amount not to exceed $100,000. 

10.2.3. Capital Expenditures. Make Capital Expenditures in excess of: (a) $67,500,000 in the aggregate during the 2009 Fiscal
Year of Parent; (b) $60,000,000 in the aggregate during the 2010 Fiscal Year of Parent; (c) $55,000,000 in the aggregate during the 2011 Fiscal Year of Parent; and (d) $60,000,000 in the aggregate during the 2012 Fiscal Year of Parent
(it being understood that all Capital Expenditures made by Parent or any of its Subsidiaries shall be included when determining compliance with the foregoing limits). 
 10.2.4. Distributions; Upstream Payments. 

  
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 (a) Declare or make any Distributions, except: (i) Upstream Payments; (ii) so long
as no Default or Event of Default has occurred and is continuing or would result therefrom, Borrowers may make distributions to Parent for the sole purpose of allowing Parent to, and Parent shall use the proceeds thereof solely to, pay mandatory
payments of principal, interest, fees and other obligations on account of Debt owing by Parent; (iii) so long as no Default or Event of Default has occurred and is continuing or would result therefrom, Borrowers may make distributions to Parent
for the sole purpose of allowing Parent to, and Parent shall use the proceeds thereof solely to, pay reasonable administrative and operating expenses, including, cash operating expenses, taxes, and Capital Expenditures arising solely out of the
consolidated operations of Parent and its Subsidiaries; and (iv) Borrowers may make a one time distribution to Parent in an aggregate amount not to exceed $5,000,000, so long as (A) no Default or Event of Default has occurred and is
continuing or would result therefrom, (B) after the Closing Date but prior to December 31, 2009, Parent has received a tax refund in an amount not less than $9,000,000, and (C) the aggregate Revolver Commitments at the time of such
distribution shall be $80,000,000 or more (it being acknowledged by Borrowers that nothing contained in this Section 10.2.4 shall imply any obligation on the part of Lenders to consent to any increase in the aggregate Revolver
Commitments); or 
 (b) create or suffer to exist any encumbrance or restriction on the ability of a Subsidiary to make any
Upstream Payment, except for restrictions under the Loan Documents, under the Secured Notes Documents, under Applicable Law or in effect on the Closing Date as shown on Schedule 9.1.15. 

10.2.5. Restricted Investments. Make any Restricted Investment. 

10.2.6. Disposition of Assets. Make any Asset Disposition, except a Permitted Asset Disposition. 

10.2.7. Loans. Make any loans or other advances of money to any Person, except (a) advances to an officer or employee for
salary, travel, relocation and other expenses, commissions and similar items in the Ordinary Course of Business; (b) prepaid expenses and extensions of trade credit made in the Ordinary Course of Business; (c) deposits with financial
institutions permitted hereunder; (d) intercompany loans by a Borrower to another Borrower, and (e) Investments permitted under clauses (a), (f), (j) and (k) of the definition of “Restricted Investment”. 

10.2.8. Restrictions on Payment of Certain Debt. Make any payments (whether voluntary or mandatory, or a prepayment, redemption,
retirement, defeasance or acquisition) with respect to any (a) Subordinated Debt, except regularly scheduled payments of principal, interest and fees, but only to the extent permitted under any subordination agreement relating to such Debt (and
a Senior Officer of Borrower Agent shall certify to Agent, not less than five Business Days prior to the date of payment, that all conditions under such agreement have been satisfied); (b) Borrowed Money (other than the Obligations and the Debt
evidenced by the Senior Secured Notes Documents) prior to its due date under the agreements evidencing such Debt as in effect on the Closing Date (or as amended thereafter with the consent of the Required Lenders); (c) Debt evidenced by the
Senior Secured Notes Documents, except mandatory payments due thereunder as in effect on the Closing Date (or as amended thereafter with the consent of the Required Lenders) and (d) payments (other than those set forth in clause (a) above)
on intercompany loans, except payments by an Obligor to a Borrower; provided, however, that for purposes of the foregoing clause (c) this Section 10.2.8, no mandatory prepayments shall be made to the extent such prepayments
are required on account of sales of Revolver Priority Collateral. For clarification, payments by Parent under the Senior Secured Notes Documents shall not constitute a payment by Borrowers under guarantees of such Debt that would constitute a breach
of this Section 10.2.8. Notwithstanding anything contained in this Agreement to the contrary, for purposes of determining the amount of a mandatory prepayment that shall be deemed to be required to be made on

  
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account of a sale of Revolver Priority Collateral, such amount shall equal the lesser of (x) the total proceeds of such sale of Revolver Priority Collateral, and (y) the greater of
(i) the value of such assets attributed to the Borrowing Base and (ii) net book value of such assets recorded on the applicable Obligor’s books in accordance with GAAP, in each case for this clause (y), as assessed on the date of such
asset sale. 
 10.2.9. Fundamental Changes. Merge, combine or consolidate with any Person, or liquidate, wind up its
affairs or dissolve itself, in each case whether in a single transaction or in a series of related transactions, except for mergers or consolidations of a wholly-owned Subsidiary with another wholly-owned Subsidiary or into a Borrower; change its
name or conduct business under any fictitious name; change its tax, charter or other organizational identification number; or change its form or state of organization. 
 10.2.10. Subsidiaries. Form or acquire any Subsidiary after the Closing Date, except in accordance with Sections 10.1.9 and 10.2.5; or permit any existing Subsidiary to issue any
additional Equity Interests except director’s qualifying shares or to the parent of such Subsidiary. 
 10.2.11. Organic
Documents. Amend, modify or otherwise change any of its Organic Documents as in effect on the Closing Date where such amendment, modification or other change would materially adversely affect the interests of Agent or the Lenders. 

10.2.12. Tax Consolidation. File or consent to the filing of any consolidated income tax return with any Person other than Parent,
Borrowers and Subsidiaries. 
 10.2.13. Accounting Changes. Make any material change in accounting treatment or reporting
practices, except as required by GAAP and in accordance with Section 1.2; or change its Fiscal Year. 
 10.2.14.
Restrictive Agreements. Become a party to any Restrictive Agreement, except the Senior Secured Notes Documents and except a Restrictive Agreement (a) in effect on the Closing Date; (b) relating to secured Debt permitted hereunder,
as long as the restrictions apply only to collateral for such Debt; (c) constituting customary restrictions on assignment in leases and other contracts; or (d) any restrictions imposed on any Property pursuant to an agreement that has been
entered into in connection with a Permitted Asset Disposition of such Property. 
 10.2.15. Hedging Agreements. Enter
into any Hedging Agreement, except to hedge risks arising in the Ordinary Course of Business and not for speculative purposes. 

10.2.16. Conduct of Business. Engage in any business, other than its business as conducted on the Closing Date and any activities
incidental thereto. 
 10.2.17. Affiliate Transactions. Enter into or be party to any transaction with an Affiliate,
except (a) transactions contemplated by the Loan Documents; (b) payment of reasonable compensation and provisions of other reasonable benefits to officers and employees for services actually rendered, and loans and advances permitted by
Section 10.2.7; (c) payment of customary directors’ fees and indemnities; (d) transactions: (i) solely among Borrowers; (ii) solely among Guarantors; and (iii) solely among Subsidiaries that are not
Borrowers or Guarantors; (e) transactions with Affiliates that were consummated prior to the Closing Date, as shown on Schedule 10.2.17; (f) transactions permitted under Section 10.2.7; (g) agreements and
arrangements entered into in the Ordinary Course of Business with officers and employees of Borrowers in connection with termination of their employment therewith; (h) indemnity and reimbursement provided on behalf of directors, officers and
employees of any Borrower or 

  
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Subsidiary in the Ordinary Course of Business; and (i) transactions with Affiliates in the Ordinary Course of Business, upon fair and reasonable terms fully disclosed to Agent and no less
favorable than would be obtained in a comparable arm’s-length transaction with a non-Affiliate. 
 10.2.18. Plans.
Become party to any Multiemployer Plan or Foreign Plan, other than any in existence on the Closing Date and other than as disclosed to Agent upon thirty (30) days’ prior written notice, except as may be required by Applicable Law.

 10.2.19. Amendments to Subordinated Debt or Senior Secured Notes Documents. 

(a) Amend, supplement or otherwise modify any document, instrument or agreement relating to any Subordinated Debt, if such modification
(a) increases the principal balance of such Debt, or increases any required payment of principal or interest; (b) accelerates the date on which any installment of principal or any interest is due, or adds any additional redemption, put or
prepayment provisions; (c) shortens the final maturity date or otherwise accelerates amortization; (d) increases the interest rate; (e) increases or adds any fees or charges; (f) modifies any covenant in a manner or adds any
representation, covenant or default that is more onerous or restrictive in any material respect for any Guarantor, any Borrower or any Subsidiary, or that is otherwise materially adverse to any Guarantor, any Borrower, any Subsidiary or Lenders; or
(g) results in the Obligations not being fully benefited by the subordination provisions thereof, except that any acceleration or prepayment that would be prohibited under clause (b) or (c) and any fees or charges prohibited under
clause (e) shall not be prohibited under this Section 10.2.19(a) where such acceleration or prepayment is made, or such fees or charges are incurred, in connection with a refinancing of such Subordinated Debt permitted under
Section 10.2.1(j). 
 (b) Amend, supplement or otherwise modify any document, instrument or agreement relating to
any Senior Secured Notes Document, if such modification (a) increases the principal balance of such Debt, or increases any required payment of principal or interest; (b) accelerates the date on which any installment of principal or any
interest is due, or adds any additional redemption, put or prepayment provisions; (c) shortens the final maturity date or otherwise accelerates amortization; (d) ) increases the interest rate or in the case of Debt under the Senior Secured
Notes, if the effect of such increase would result in the economic return on such Debt increasing by more than 5.00 percentage points per annum (excluding increases resulting from the accrual of interest at the default rate or similar component of
the interest rate that is applicable after the occurrence of an event of default); (e) increases or adds any fees or charges; or (f) modifies any covenant in a manner or adds any representation, covenant or default that is more onerous or
restrictive in any material respect for any Guarantor, any Borrower or any Subsidiary, or that is otherwise materially adverse to any Guarantor, any Borrower, any Subsidiary or Lenders, except that any acceleration or prepayment that would be
prohibited under clause (b) or (c) shall not be prohibited under this Section 10.2.19(b) where such acceleration or prepayment is made in connection with a refinancing of such Senior Secured Notes Documents permitted under
Section 10.2.1(j). Nothing contained in this Section 10.2.19(b) shall restrict amendments to the Senior Secured Notes Documents that (i) permit an increase in the aggregate Revolver Commitments or (ii) expand the
scope of Collateral included in the Revolver Priority Collateral. 
 10.3. Fixed Charge Coverage Ratio. As long as
any Commitments or Obligations are outstanding, if Excess Availability is ever less than an amount equal to 50% of the aggregate Revolver Commitments (the “FCCR Event”), Borrowers shall maintain a Fixed Charge Coverage Ratio, when
measured at the end of the month ending immediately before the FCCR Event and each month ending after the FCCR Event, on a trailing twelve (12) month basis, of at least: (a) 1.0 to 1.0 for each such month ending on or prior to
December 31, 2010, and (b) 1.1 to 1.0 for each such month ending after December 31, 2010. 

  
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 SECTION 11. EVENTS OF DEFAULT; REMEDIES ON DEFAULT 

11.1. Events of Default. Each of the following shall be an “Event of Default” hereunder, if the same shall occur
for any reason whatsoever, whether voluntary or involuntary, by operation of law or otherwise: 
 (a) A Borrower fails to pay
any Obligations when due (whether at stated maturity, on demand, upon acceleration or otherwise); 
 (b) Any representation,
warranty or other written statement of a Borrower or Guarantor made in connection with any Loan Documents or transactions contemplated thereby is incorrect or misleading in any material respect when given; 

(c) A Borrower breaches or fail to perform any covenant contained in Section 7.2, 7.3, 7.6, 8.1, 8.2.4, 8.2.5,
8.6.2 (to the extent insurance has not been maintained as required), 10.1.1, 10.1.2, 10.2 or 10.3; 
 (d) A Borrower or
Guarantor breaches or fails to perform any other covenant contained in any Loan Documents, and such breach or failure is not cured within 15 days after a Senior Officer of such Borrower or Guarantor has knowledge thereof or receives notice thereof
from Agent, whichever is sooner; provided, however, that such notice and opportunity to cure shall not apply if the breach or failure to perform is not capable of being cured within such period or is a willful breach by a Borrower or
Guarantor; 
 (e) A Guarantor repudiates, revokes or attempts to revoke its Guaranty; an Obligor denies or contests the validity
or enforceability of any Loan Documents or Obligations, or the perfection or priority of any Lien granted to Agent; or any Loan Document ceases to be in full force or effect for any reason (other than a waiver or release by Agent and Lenders);

 (f) Any breach or default of a Borrower or Guarantor occurs and is continuing under any document, instrument or agreement to
which it is a party or by which it or any of its Properties is bound, relating to any Debt (other than the Obligations and other than Debt evidenced by the Senior Secured Notes Documents) in excess of $5,000,000, if the maturity of or any payment
with respect to such Debt may be accelerated or demanded due to such breach; 
 (g) Any judgment or order for the payment of
money is entered against a Borrower or Guarantor in an amount that exceeds, individually or cumulatively with all unsatisfied judgments or orders against all Borrowers and Guarantors, $1,000,000 (net of any insurance coverage therefor acknowledged
in writing by the insurer), unless (i) a stay of enforcement of such judgment or order is in effect, by reason of a pending appeal or otherwise, or (ii) such judgment or order is satisfied within two (2) Business Days of it being
entered; 
 (h) A loss, theft, damage or destruction occurs with respect to any: (i) Revolver Priority Collateral if the
amount not covered by insurance exceeds $1,000,000, and (ii) other Collateral if the amount not covered by insurance exceeds $5,000,000; 
 (i) A Borrower or Guarantor is enjoined, restrained or in any way prevented by any Governmental Authority from conducting any material part of its business; a Borrower or Guarantor suffers the loss,
revocation or termination of any material license, permit, lease or agreement necessary to its business; there is a cessation of any material part of a Borrower’s or Guarantor’s business for a material period of time; any material
Collateral or Property of a Borrower or Guarantor is taken or impaired 

  
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through condemnation; a Borrower or Guarantor agrees to or commences any liquidation, dissolution or winding up of its affairs except as permitted in Section 10.2.9; or a Borrower or
Guarantor is not Solvent; 
 (j) An Insolvency Proceeding is commenced by a Borrower or Guarantor; a Borrower or Guarantor makes
an offer of settlement, extension or composition to its unsecured creditors generally; a trustee is appointed to take possession of any substantial Property of or to operate any of the business of a Borrower or Guarantor; or an Insolvency Proceeding
is commenced against a Borrower or Guarantor and such Borrower or Guarantor consents to institution of the proceeding, the petition commencing the proceeding is not timely contested by such Borrower or Guarantor, the petition is not dismissed within
30 days after filing, or an order for relief is entered in the proceeding; 
 (k) An ERISA Event occurs with respect to a
Pension Plan or Multiemployer Plan that has resulted or could reasonably be expected to result in liability of a Borrower or Guarantor to a Pension Plan, Multiemployer Plan or PBGC, or that constitutes grounds for appointment of a trustee for or
termination by the PBGC of any Pension Plan or Multiemployer Plan; a Borrower, Guarantor or ERISA Affiliate fails to timely pay any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer
Plan; or any event similar to the foregoing occurs or exists with respect to a Foreign Plan; except that no event or condition described in this Section 11.1(k) shall constitute an Event of Default if it, together with all other such
events or conditions at the time existing, has not resulted in, and could not reasonably be expected to result in, liability to Borrowers and Guarantors in excess of $1,000,000; 

(l) A Borrower or Guarantor or any of its Senior Officers is criminally indicted or convicted for (i) a felony committed in the
conduct of such Borrower’s or Guarantor’s business, or (ii) violating any state or federal law (including the Controlled Substances Act, Money Laundering Control Act of 1986 and Illegal Exportation of War Materials Act) that could
lead to forfeiture of any material Property or any Collateral; 
 (m) Any breach or default of a Borrower or Guarantor occurs
under the Senior Secured Notes, or any Senior Secured Notes Documents; or 
 (n) A Change of Control occurs; or any event occurs
or condition exists that has a Material Adverse Effect. 
 11.2. Remedies upon Default. If an Event of Default
described in Section 11.1(j) occurs with respect to any Borrower, then to the extent permitted by Applicable Law, all Obligations shall become automatically due and payable and all Commitments shall terminate, without any action by Agent
or notice of any kind. In addition, or if any other Event of Default exists, Agent may in its discretion (and shall upon written direction of Required Lenders) do any one or more of the following from time to time: 

(a) declare any Obligations immediately due and payable, whereupon they shall be due and payable without diligence, presentment, demand,
protest or notice of any kind, all of which are hereby waived by Borrowers to the fullest extent permitted by law; 
 (b)
terminate, reduce or condition any Commitment, or make any adjustment to the Borrowing Base; 
 (c) require Obligors to Cash
Collateralize LC Obligations, Bank Product Debt and other Obligations that are contingent or not yet due and payable, and, if Obligors fail promptly to deposit such Cash Collateral, Agent may (and shall upon the direction of Required Lenders)
advance the required 

  
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Cash Collateral as Revolver Loans (whether or not an Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied); and 

(d) exercise any other rights or remedies afforded under any agreement, by law, at equity or otherwise, including the rights and remedies
of a secured party under the UCC. Such rights and remedies include the rights to (i) take possession of any Collateral; (ii) require Borrowers to assemble Collateral, at Borrowers’ expense, and make it available to Agent at a place
designated by Agent; (iii) enter any premises where Collateral is located and store Collateral on such premises until sold (and if the premises are owned or leased by a Borrower, Borrowers agree not to charge for such storage); and
(iv) sell or otherwise dispose of any Collateral in its then condition, or after any further manufacturing or processing thereof, at public or private sale, with such notice as may be required by Applicable Law, in lots or in bulk, at such
locations, all as Agent, in its discretion, deems advisable. Each Borrower agrees that 10 days notice of any proposed sale or other disposition of Collateral by Agent shall be reasonable. Agent shall have the right to conduct such sales on any
Obligor’s premises, without charge, and such sales may be adjourned from time to time in accordance with Applicable Law. Agent shall have the right to sell, lease or otherwise dispose of any Collateral for cash, credit or any combination
thereof, and Agent may purchase any Collateral at public or, if permitted by law, private sale and, in lieu of actual payment of the purchase price, may set off the amount of such price against the Obligations. 

11.3. License. Agent is hereby granted an irrevocable, non-exclusive license or other right to use, license or sub-license
(without payment of royalty or other compensation to any Person) any or all Intellectual Property of Borrowers, computer hardware and software, trade secrets, brochures, customer lists, promotional and advertising materials, labels, packaging
materials and other Property, in advertising for sale, marketing, selling, collecting, completing manufacture of, or otherwise exercising any rights or remedies with respect to, any Collateral. Each Borrower’s rights and interests under
Intellectual Property shall inure to Agent’s benefit. 
 11.4. Setoff. At any time during an Event of
Default, Agent, Issuing Bank, Lenders, and any of their Affiliates are authorized, to the fullest extent permitted by Applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever
currency) at any time held and other obligations (in whatever currency) at any time owing by Agent, Issuing Bank, such Lender or such Affiliate to or for the credit or the account of a Borrower or Guarantor against any Obligations, irrespective of
whether or not Agent, Issuing Bank, such Lender or such Affiliate shall have made any demand under this Agreement or any other Loan Document and although such Obligations may be contingent or unmatured or are owed to a branch or office of Agent,
Issuing Bank, such Lender or such Affiliate different from the branch or office holding such deposit or obligated on such indebtedness. The rights of Agent, Issuing Bank, each Lender and each such Affiliate under this Section are in addition to
other rights and remedies (including other rights of setoff) that such Person may have. 
 11.5. Remedies Cumulative; No
Waiver. 
 11.5.1. Cumulative Rights. All agreements, warranties, guaranties, indemnities and other undertakings
of Borrowers under the Loan Documents are cumulative and not in derogation of each other. The rights and remedies of Agent and Lenders are cumulative, may be exercised at any time and from time to time, concurrently or in any order, and are not
exclusive of any other rights or remedies available by agreement, by law, at equity or otherwise. All such rights and remedies shall continue in full force and effect until Full Payment of all Obligations. 

11.5.2. Waivers. No waiver or course of dealing shall be established by (a) the failure or delay of Agent or any Lender to
require strict performance by Borrowers with any terms of the Loan Documents, or to exercise any rights or remedies with respect to Collateral or otherwise; (b) the making 

  
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of any Loan or issuance of any Letter of Credit during a Default, Event of Default or other failure to satisfy any conditions precedent; or (c) acceptance by Agent or any Lender of any
payment or performance by an Obligor under any Loan Documents in a manner other than that specified therein. It is expressly acknowledged by Borrowers that any failure to satisfy a financial covenant on a measurement date shall not be cured or
remedied by satisfaction of such covenant on a subsequent date. 
 SECTION 12. AGENT 

12.1. Appointment, Authority and Duties of Agent. 
 12.1.1. Appointment and Authority. Each Lender appoints and designates Bank of America as Agent hereunder. Agent may, and each Lender authorizes Agent to, enter into all Loan Documents to which
Agent is intended to be a party and accept all Security Documents, for Agent’s benefit and the Pro Rata benefit of Lenders. Each Lender agrees that any action taken by Agent or Required Lenders (unless this Agreement otherwise requires the
consent of all Lenders) in accordance with the provisions of the Loan Documents, and the exercise by Agent or Required Lenders (unless this Agreement otherwise requires the consent of all Lenders) of any rights or remedies set forth therein,
together with all other powers reasonably incidental thereto, shall be authorized by and binding upon all Lenders. Without limiting the generality of the foregoing, Agent shall have the sole and exclusive authority to (a) act as the disbursing
and collecting agent for Lenders with respect to all payments and collections arising in connection with the Loan Documents; (b) execute and deliver as Agent each Loan Document, including any intercreditor or subordination agreement, and accept
delivery of each Loan Document from any Obligor or other Person; (c) act as collateral agent for Secured Parties for purposes of perfecting and administering Liens under the Loan Documents, and for all other purposes stated therein;
(d) manage, supervise or otherwise deal with Collateral; and (e) take any Enforcement Action or otherwise exercise any rights or remedies with respect to any Collateral under the Loan Documents, Applicable Law or otherwise. The duties of
Agent shall be ministerial and administrative in nature, and Agent shall not have a fiduciary relationship with any Lender, Secured Party, Participant or other Person, by reason of any Loan Document or any transaction relating thereto. Agent alone
shall be authorized to determine whether any Accounts or Inventory constitute, in accordance with the definitions thereof, Eldorado Eligible Accounts, HRI Eligible Accounts, SCP Eligible Accounts, Tapco Eligible Accounts, Eldorado Eligible
Inventory, SCP Eligible Inventory, or Tapco Eligible Inventory, or whether to impose any reserve or release any discretionary reserve, and to exercise its Credit Judgment in connection therewith, which determinations and judgments, if exercised in
good faith, shall exonerate Agent from liability to any Lender or other Person for any error in judgment. 
 12.1.2.
Duties. Agent shall not have any duties except those expressly set forth in the Loan Documents. The conferral upon Agent of any right shall not imply a duty on Agent’s part to exercise such right, unless instructed to do so by Required
Lenders (or all Lenders if this Agreement otherwise so provides) in accordance with this Agreement. 
 12.1.3. Agent
Professionals. Agent may perform its duties through agents and employees. Agent may consult with and employ Agent Professionals, and shall be entitled to act upon, and shall be fully protected in any action taken in good faith reliance upon, any
advice given by an Agent Professional. Agent shall not be responsible for the negligence or misconduct of any agents, employees or Agent Professionals selected by it with reasonable care. 

12.1.4. Instructions of Required Lenders. The rights and remedies conferred upon Agent under the Loan Documents may be exercised
without the necessity of joinder of any other party, unless required by Applicable Law. Agent may request instructions from Required Lenders with respect to any act (including the failure to act) in connection with any Loan Documents, and may seek
assurances 

  
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to its satisfaction from Lenders of their indemnification obligations under Section 12.6 against all Claims that could be incurred by Agent in connection with any act. Agent shall be
entitled to refrain from any act until it has received such instructions or assurances, and Agent shall not incur liability to any Person by reason of so refraining. Instructions of Required Lenders shall be binding upon all Lenders, and no Lender
shall have any right of action whatsoever against Agent as a result of Agent acting or refraining from acting in accordance with the instructions of Required Lenders. Notwithstanding the foregoing, instructions by and consent of all Lenders shall be
required in the circumstances described in Section 14.1.1, and in no event shall Required Lenders, without the prior written consent of each Lender, direct Agent to accelerate and demand payment of Loans held by one Lender without
accelerating and demanding payment of all other Loans, nor to terminate the Commitments of one Lender without terminating the Commitments of all Lenders. In no event shall Agent be required to take any action that, in its opinion, is contrary to
Applicable Law or any Loan Documents or could subject any Agent Indemnitee to personal liability. 
 12.2. Agreements
Regarding Collateral and Field Examination Reports. 
 12.2.1. Lien Releases; Care of Collateral. Lenders
authorize Agent to release any Lien with respect to any Collateral (a) upon Full Payment of the Obligations; (b) that is the subject of an Asset Disposition which Borrowers certify in writing to Agent is a Permitted Asset Disposition or a
Lien which Borrowers certify is a Permitted Lien entitled to priority over Agent’s Liens (and Agent may rely conclusively on any such certificate without further inquiry); or (c) with the written consent of the Required Lenders (or all
Lenders to the extent required by Section 14.1(d)). Agent shall have no obligation whatsoever to any Lenders to assure that any Collateral exists or is owned by a Borrower, or is cared for, protected, insured or encumbered, nor to assure
that Agent’s Liens have been properly created, perfected or enforced, or are entitled to any particular priority, nor to exercise any duty of care with respect to any Collateral. 

12.2.2. Possession of Collateral. Agent and Lenders appoint each Lender as agent (for the benefit of Secured Parties) for the
purpose of perfecting Liens in any Collateral held or controlled by such Lender, to the extent such Liens are perfected by possession or control. If any Lender obtains possession or control of any Collateral, it shall notify Agent thereof and,
promptly upon Agent’s request, deliver such Collateral to Agent or otherwise deal with it in accordance with Agent’s instructions. 
 12.2.3. Reports. Agent shall promptly forward to each Lender, when complete, copies of any field audit, examination or appraisal report prepared by or for Agent with respect to any Obligor or
Collateral (“Report”). Each Lender agrees (a) that neither Bank of America nor Agent makes any representation or warranty as to the accuracy or completeness of any Report, and shall not be liable for any information contained
in or omitted from any Report; (b) that the Reports are not intended to be comprehensive audits or examinations, and that Agent or any other Person performing any audit or examination will inspect only specific information regarding Obligations
or the Collateral and will rely significantly upon Borrowers’ books and records as well as upon representations of Borrowers’ officers and employees; and (c) to keep all Reports confidential and strictly for such Lender’s
internal use, and not to distribute any Report (or the contents thereof) to any Person (except to such Lender’s Participants, attorneys and accountants) or use any Report in any manner other than administration of the Loans and other
Obligations. Each Lender agrees to indemnify and hold harmless Agent and any other Person preparing a Report from any action such Lender may take as a result of or any conclusion it may draw from any Report, as well as from any Claims arising as a
direct or indirect result of Agent furnishing a Report to such Lender. 
 12.3. Reliance By Agent. Agent shall be
entitled to rely, and shall be fully protected in relying, upon any certification, notice or other communication (including those by telephone, telex, 

  
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telegram, telecopy or e-mail) believed by it to be genuine and correct and to have been signed, sent or made by the proper Person, and upon the advice and statements of Agent Professionals.

 12.4. Action Upon Default. Agent shall not be deemed to have knowledge of any Default or Event of Default
unless it has received written notice from a Lender or Borrower specifying the occurrence and nature thereof. If any Lender acquires knowledge of a Default or Event of Default, it shall promptly notify Agent and the other Lenders thereof in writing.
Each Lender agrees that, except as otherwise provided in any Loan Documents or with the written consent of Agent and Required Lenders, it will not take any Enforcement Action, accelerate Obligations under any Loan Documents, or exercise any right
that it might otherwise have under Applicable Law to credit bid at foreclosure sales, UCC sales or other similar dispositions of Collateral. Notwithstanding the foregoing, however, a Lender may take action to preserve or enforce its rights against
an Obligor where a deadline or limitation period is applicable that would, absent such action, bar enforcement of Obligations held by such Lender, including the filing of proofs of claim in an Insolvency Proceeding. 

12.5. Ratable Sharing. If any Lender shall obtain any payment or reduction of any Obligation, whether through set-off or
otherwise, in excess of its share of such Obligation, determined on a Pro Rata basis or in accordance with Section 5.6.1, as applicable, such Lender shall forthwith purchase from Agent, Issuing Bank and the other Lenders such
participations in the affected Obligation as are necessary to cause the purchasing Lender to share the excess payment or reduction on a Pro Rata basis or in accordance with Section 5.6.1, as applicable. If any of such payment or
reduction is thereafter recovered from the purchasing Lender, the purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. No Lender shall set off against any Dominion Account without the
prior consent of Agent. 
 12.6. Indemnification of Agent Indemnitees. EACH LENDER SHALL INDEMNIFY AND HOLD
HARMLESS AGENT INDEMNITEES, TO THE EXTENT NOT REIMBURSED BY OBLIGORS (BUT WITHOUT LIMITING THE INDEMNIFICATION OBLIGATIONS OF OBLIGORS UNDER ANY LOAN DOCUMENTS), ON A PRO RATA BASIS, AGAINST ALL CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY
AGENT INDEMNITEE, PROVIDED THE CLAIM RELATES TO OR ARISES FROM AN AGENT INDEMNITEE ACTING AS OR FOR AGENT (IN ITS CAPACITY AS AGENT) AND WAS NOT CAUSED BY THE GROSS NEGLIGENCE OR WILFUL MISCONDUCT OF ANY AGENT INDEMNITEE. In Agent’s discretion,
it may reserve for any such Claims made against an Agent Indemnitee, and may satisfy any judgment, order or settlement relating thereto, from proceeds of Collateral prior to making any distribution of Collateral proceeds to Lenders. If Agent is sued
by any receiver, bankruptcy trustee, debtor-in-possession or other Person for any alleged preference or fraudulent transfer, then any monies paid by Agent in settlement or satisfaction of such proceeding, together with all interest, costs and
expenses (including attorneys’ fees) incurred in the defense of same, shall be promptly reimbursed to Agent by each Lender to the extent of its Pro Rata share. 
 12.7. Limitation on Responsibilities of Agent. Agent shall not be liable to Lenders for any action taken or omitted to be taken under the Loan Documents, except for losses directly and
solely caused by Agent’s gross negligence or willful misconduct. Agent does not assume any responsibility for any failure or delay in performance or any breach by any Obligor or Lender of any obligations under the Loan Documents. Agent does not
make to Lenders any express or implied warranty, representation or guarantee with respect to any Obligations, Collateral, Loan Documents or Obligor. No Agent Indemnitee shall be responsible to Lenders for any recitals, statements, information,
representations or warranties contained in any Loan Documents; the execution, validity, genuineness, effectiveness or enforceability of any Loan Documents; the genuineness, enforceability, collectibility, value, sufficiency, location or existence of
any Collateral, or the validity, extent, perfection or priority of any Lien therein; the validity, 

  
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enforceability or collectibility of any Obligations; or the assets, liabilities, financial condition, results of operations, business, creditworthiness or legal status of any Obligor or Account
Debtor. No Agent Indemnitee shall have any obligation to any Lender to ascertain or inquire into the existence of any Default or Event of Default, the observance or performance by any Obligor of any terms of the Loan Documents, or the satisfaction
of any conditions precedent contained in any Loan Documents. 
 12.8. Successor Agent and Co-Agents. 

12.8.1. Resignation; Successor Agent. Subject to the appointment and acceptance of a successor Agent as provided below, Agent may
resign at any time by giving at least 30 days written notice thereof to Lenders and Borrowers. Upon receipt of such notice, Required Lenders shall have the right to appoint a successor Agent which shall be (a) a Lender or an Affiliate of a
Lender; or (b) a commercial bank that is organized under the laws of the United States or any state or district thereof, has a combined capital surplus of at least $200,000,000 and (provided no Default or Event of Default exists) is reasonably
acceptable to Borrowers. If no successor agent is appointed prior to the effective date of the resignation of Agent, then Agent may appoint a successor agent from among Lenders. Upon acceptance by a successor Agent of an appointment to serve as
Agent hereunder, such successor Agent shall thereupon succeed to and become vested with all the powers and duties of the retiring Agent without further act, and the retiring Agent shall be discharged from its duties and obligations hereunder but
shall continue to have the benefits of the indemnification set forth in Sections 12.6 and 14.2. Notwithstanding any Agent’s resignation, the provisions of this Section 12 shall continue in effect for its benefit with
respect to any actions taken or omitted to be taken by it while Agent. Any successor to Bank of America by merger or acquisition of stock or this loan shall continue to be Agent hereunder without further act on the part of the parties hereto, unless
such successor resigns as provided above. 
 12.8.2. Separate Collateral Agent. It is the intent of the parties that
there shall be no violation of any Applicable Law denying or restricting the right of financial institutions to transact business in any jurisdiction. If Agent believes that it may be limited in the exercise of any rights or remedies under the Loan
Documents due to any Applicable Law, Agent may appoint an additional Person who is not so limited, as a separate collateral agent or co-collateral agent. If Agent so appoints a collateral agent or co-collateral agent, each right and remedy intended
to be available to Agent under the Loan Documents shall also be vested in such separate agent. Every covenant and obligation necessary to the exercise thereof by such agent shall run to and be enforceable by it as well as Agent. Lenders shall
execute and deliver such documents as Agent deems appropriate to vest any rights or remedies in such agent. If any collateral agent or co-collateral agent shall die or dissolve, become incapable of acting, resign or be removed, then all the rights
and remedies of such agent, to the extent permitted by Applicable Law, shall vest in and be exercised by Agent until appointment of a new agent. 
 12.9. Due Diligence and Non-Reliance. Each Lender acknowledges and agrees that it has, independently and without reliance upon Agent or any other Lenders, and based upon such documents,
information and analyses as it has deemed appropriate, made its own credit analysis of each Obligor and its own decision to enter into this Agreement and to fund Loans and participate in LC Obligations hereunder. Each Lender has made such inquiries
concerning the Loan Documents, the Collateral and each Obligor as such Lender feels necessary. Each Lender further acknowledges and agrees that the other Lenders and Agent have made no representations or warranties concerning any Obligor, any
Collateral or the legality, validity, sufficiency or enforceability of any Loan Documents or Obligations. Each Lender will, independently and without reliance upon the other Lenders or Agent, and based upon such financial statements, documents and
information as it deems appropriate at the time, continue to make and rely upon its own credit decisions in making Loans and participating in LC Obligations, and in taking or refraining from any action under any Loan Documents. Except for notices,
reports and other information expressly requested by a Lender, Agent shall have no duty or responsibility to provide any Lender with 

  
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any notices, reports or certificates furnished to Agent by any Obligor or any credit or other information concerning the affairs, financial condition, business or Properties of any Obligor (or
any of its Affiliates) which may come into possession of Agent or any of Agent’s Affiliates. 
 12.10. Replacement of
Certain Lenders. If a Lender (a) is a Defaulting Lender, or (b) fails to give its consent to any amendment, waiver or action for which consent of all Lenders was required and Required Lenders consented, then, in addition to any
other rights and remedies that any Person may have, Agent may, by notice to such Lender within 120 days after such event, require such Lender to assign all of its rights and obligations under the Loan Documents to Eligible Assignee(s) specified by
Agent, pursuant to appropriate Assignment and Acceptance(s) and within 20 days after Agent’s notice. Agent is irrevocably appointed as attorney-in-fact to execute any such Assignment and Acceptance if the Lender fails to execute same. Such
Lender shall be entitled to receive, in cash, concurrently with such assignment, all amounts owed to it under the Loan Documents, including all principal, interest and fees through the date of assignment (but excluding any prepayment charge other
than amounts owed under Section 3.9). 
 12.11. Remittance of Payments and Collections. 

12.11.1. Remittances Generally. All payments by any Lender to Agent shall be made by the time and on the day set forth in this
Agreement, in immediately available funds. If no time for payment is specified or if payment is due on demand by Agent and request for payment is made by Agent by 11:00 a.m. on a Business Day, payment shall be made by Lender not later than 2:00 p.m.
on such day, and if request is made after 11:00 a.m., then payment shall be made by 11:00 a.m. on the next Business Day. Payment by Agent to any Lender shall be made by wire transfer, in the type of funds received by Agent. Any such payment shall be
subject to Agent’s right of offset for any amounts due from such Lender under the Loan Documents. 
 12.11.2. Failure to
Pay. If any Lender fails to pay any amount when due by it to Agent pursuant to the terms hereof, such amount shall bear interest from the due date until paid at the rate determined by Agent as customary in the banking industry for interbank
compensation. In no event shall Borrowers be entitled to receive credit for any interest paid by a Lender to Agent, nor shall any Defaulting Lender be entitled to interest on any amounts held by Agent pursuant to Section 4.2. 

12.11.3. Recovery of Payments. If Agent pays any amount to a Lender in the expectation that a related payment will be received by
Agent from an Obligor and such related payment is not received, then Agent may recover such amount from each Lender that received it. If Agent determines at any time that an amount received under any Loan Document must be returned to an Obligor or
paid to any other Person pursuant to Applicable Law or otherwise, then, notwithstanding any other term of any Loan Document, Agent shall not be required to distribute such amount to any Lender. If any amounts received and applied by Agent to any
Obligations are later required to be returned by Agent pursuant to Applicable Law, each Lender shall pay to Agent, on demand, such Lender’s Pro Rata share of the amounts required to be returned. 

12.12. Agent in its Individual Capacity. As a Lender, Bank of America shall have the same rights and remedies under the
other Loan Documents as any other Lender, and the terms “Lenders,” “Required Lenders” or any similar term shall include Bank of America in its capacity as a Lender. Each of Bank of America and its Affiliates may accept deposits
from, maintain deposits or credit balances for, invest in, lend money to, provide Bank Products to, act as trustee under indentures of, serve as financial or other advisor to, and generally engage in any kind of business with, Obligors and their
Affiliates, as if Bank of America were any other bank, without any duty to account therefor (including any fees or other consideration received in connection therewith) to the other Lenders. In their individual capacity, Bank

  
 81 

 
of America and its Affiliates may receive information regarding Obligors, their Affiliates and their Account Debtors (including information subject to confidentiality obligations), and each
Lender agrees that Bank of America and its Affiliates shall be under no obligation to provide such information to Lenders, if acquired in such individual capacity and not as Agent hereunder. 

12.13. Agent Titles. Each Lender, other than Bank of America, that is designated (on the cover page of this Agreement or
otherwise) by Bank of America as an “Agent” or “Arranger” of any type shall not have any right, power, responsibility or duty under any Loan Documents other than those applicable to all Lenders, and shall in no event be deemed to
have any fiduciary relationship with any other Lender. 
 12.14. No Third Party Beneficiaries. This
Section 12 is an agreement solely among Lenders and Agent, and shall survive Full Payment of the Obligations. This Section 12 does not confer any rights or benefits upon Borrowers or any other Person. As between Borrowers and
Agent, any action that Agent may take under any Loan Documents or with respect to any Obligations shall be conclusively presumed to have been authorized and directed by Lenders. 
 SECTION 13. BENEFIT OF AGREEMENT; ASSIGNMENTS AND PARTICIPATIONS 

13.1. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of Borrowers, Agent, Lenders,
and their respective successors and assigns, except that (a) no Borrower shall have the right to assign its rights or delegate its obligations under any Loan Documents; and (b) any assignment by a Lender must be made in compliance with
Section 13.3. Agent may treat the Person which made any Loan as the owner thereof for all purposes until such Person makes an assignment in accordance with Section 13.3. Any authorization or consent of a Lender shall be
conclusive and binding on any subsequent transferee or assignee of such Lender. 
 13.2. Participations.

 13.2.1. Permitted Participants; Effect. Any Lender may, in the ordinary course of its business and in accordance with
Applicable Law, at any time sell to a financial institution (“Participant”) a participating interest in the rights and obligations of such Lender under any Loan Documents. Despite any sale by a Lender of participating interests to a
Participant, such Lender’s obligations under the Loan Documents shall remain unchanged, such Lender shall remain solely responsible to the other parties hereto for performance of such obligations, such Lender shall remain the holder of its
Loans and Commitments for all purposes, all amounts payable by Borrowers shall be determined as if such Lender had not sold such participating interests, and Borrowers and Agent shall continue to deal solely and directly with such Lender in
connection with the Loan Documents. Each Lender shall be solely responsible for notifying its Participants of any matters under the Loan Documents, and Agent and the other Lenders shall not have any obligation or liability to any such Participant. A
Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 5.9 unless Borrowers agree otherwise in writing. 
 13.2.2. Voting Rights. Each Lender shall retain the sole right to approve, without the consent of any Participant, any amendment, waiver or other modification of any Loan Documents other than that
which forgives principal, interest or fees, reduces the stated interest rate or fees payable with respect to any Loan or Commitment in which such Participant has an interest, postpones the Commitment Termination Date or any date fixed for any
regularly scheduled payment of principal, interest or fees on such Loan or Commitment, or releases any Borrower, Guarantor or substantial portion of the Collateral. 
 13.2.3. Benefit of Set-Off. Borrowers agree that each Participant shall have a right of set-off in respect of its participating interest to the same extent as if such interest were owing directly
to a 

  
 82 

 
Lender, and each Lender shall also retain the right of set-off with respect to any participating interests sold by it. By exercising any right of set-off, a Participant agrees to share with
Lenders all amounts received through its set-off, in accordance with Section 12.5 as if such Participant were a Lender. Assignments. 
 13.2.4. Permitted Assignments. A Lender may assign to an Eligible Assignee any of its rights and obligations under the Loan Documents, as long as (a) each assignment is of a constant, and not
a varying, percentage of the transferor Lender’s rights and obligations under the Loan Documents and, in the case of a partial assignment, is in a minimum principal amount of $10,000,000 (unless otherwise agreed by Agent in its discretion) and
integral multiples of $1,000,000 in excess of that amount; (b) except in the case of an assignment in whole of a Lender’s rights and obligations, the aggregate amount of the Commitments retained by the transferor Lender is at least
$10,000,000 (unless otherwise agreed by Agent in its discretion); and (c) the parties to each such assignment shall execute and deliver to Agent, for its acceptance and recording, an Assignment and Acceptance. Nothing herein shall limit the
right of a Lender to pledge or assign any rights under the Loan Documents to (i) any Federal Reserve Bank or the United States Treasury as collateral security pursuant to Regulation A of the Board of Governors and any Operating Circular issued
by such Federal Reserve Bank, or (ii) counterparties to swap agreements relating to any Loans; provided, however, that any payment by Borrowers to the assigning Lender in respect of any Obligations assigned as described in this
sentence shall satisfy Borrowers’ obligations hereunder to the extent of such payment, and no such assignment shall release the assigning Lender from its obligations hereunder. 

13.2.5. Effect; Effective Date. Upon delivery to Agent of an assignment notice in the form of Exhibit C and a processing
fee of $3,500 (unless otherwise agreed by Agent in its discretion), the assignment shall become effective as specified in the notice, if it complies with this Section 13.2. From such effective date, the Eligible Assignee shall for all
purposes be a Lender under the Loan Documents, and shall have all rights and obligations of a Lender thereunder. Upon consummation of an assignment, the transferor Lender, Agent and Borrowers shall make appropriate arrangements for issuance of
replacement and/or new Notes, as applicable. The transferee Lender shall comply with Section 5.10 and deliver, upon request, an administrative questionnaire satisfactory to Agent. 
 SECTION 14. MISCELLANEOUS 
 14.1. Consents, Amendments and
Waivers. 
 14.1.1. Amendment. No modification of any Loan Document, including any extension or amendment of a Loan
Document or any waiver of a Default or Event of Default, shall be effective without the prior written agreement of Agent (with the consent of Required Lenders) and each Obligor party to such Loan Document; provided, however, that

 (a) without the prior written consent of Agent, no modification shall be effective with respect to any provision in a Loan
Document that relates to any rights, duties or discretion of Agent; 
 (b) without the prior written consent of Issuing Bank, no
modification shall be effective with respect to any LC Obligations or Section 2.3; 
 (c) without the prior written
consent of each affected Lender, no modification shall be effective that would (i) increase the Commitment of such Lender; or (ii) reduce the amount of, or waive or delay payment of, any principal, interest or fees payable to such Lender;
and 

  
 83 

 (d) without the prior written consent of all Lenders (except a Defaulting Lender as provided
in Section 4.2), no modification shall be effective that would (i) extend the Revolver Termination Date; (ii) alter Section 5.6, 7.1 (except to add Collateral), 12.5 or 14.1.1; (iii) amend the
definitions of Borrowing Base (or any of the defined terms used in such definition), Pro Rata or Required Lenders; (iv) increase any advance rate, or increase total Commitments; (vi) release Collateral with a book value greater than
$1,000,000 during any calendar year, except as currently contemplated by the Loan Documents; or (vii) release any Obligor from liability for any Obligations, if such Obligor is Solvent at the time of the release. 

14.1.2. Limitations. The agreement of Borrowers shall not be necessary to the effectiveness of any modification of a Loan Document
that deals solely with the rights and duties of Lenders, Agent and/or Issuing Bank as among themselves and does not modify any right, obligation or liability of any Obligor. Only the consent of the parties to the Fee Letter or any agreement relating
to a Bank Product shall be required for any modification of such agreement, and any non-Lender that is party to a Bank Product agreement shall have no right to participate in any manner in modification of any other Loan Document. Any waiver or
consent granted by Agent or Lenders hereunder shall be effective only if in writing and only for the matter specified. 

14.1.3. Payment for Consents. No Borrower will, directly or indirectly, pay any remuneration or other thing of value, whether by
way of additional interest, fee or otherwise, to any Lender (in its capacity as a Lender hereunder) as consideration for agreement by such Lender with any modification of any Loan Documents, unless such remuneration or value is concurrently paid, on
the same terms, on a Pro Rata basis to all Lenders providing their consent. 
 14.2. Indemnity. EACH BORROWER SHALL
INDEMNIFY AND HOLD HARMLESS THE INDEMNITEES AGAINST ANY CLAIMS THAT MAY BE INCURRED BY OR ASSERTED AGAINST ANY INDEMNITEE, INCLUDING CLAIMS ARISING FROM THE NEGLIGENCE OF AN INDEMNITEE. In no event, however, shall any party to a Loan Document
have any obligation to indemnify or hold harmless an Indemnitee with respect to a Claim that is determined in a final, non-appealable judgment by a court of competent jurisdiction to result from the gross negligence or willful misconduct of such
Indemnitee. 
 14.3. Notices and Communications. 

14.3.1. Notice Address. Subject to Section 4.1.4, all notices and other communications by or to a party hereto shall
be in writing and shall be given to any Borrower, at Borrower Agent’s address shown on the signature pages hereof, and to any other Person at its address shown on the signature pages hereof (or, in the case of a Person who becomes a Lender
after the Closing Date, at the address shown on its Assignment and Acceptance), or at such other address as a party may hereafter specify by notice in accordance with this Section 14.3. Each such notice or other communication shall be
effective only (a) if given by facsimile transmission, when transmitted to the applicable facsimile number, if confirmation of receipt is received; (b) if given by mail, three Business Days after deposit in the U.S. mail, with first-class
postage pre-paid, addressed to the applicable address; or (c) if given by personal delivery, when duly delivered to the notice address with receipt acknowledged. Notwithstanding the foregoing, no notice to Agent pursuant to
Section 2.1.4, 2.3, 3.1.2, 4.1.1 or 5.3.3 shall be effective until actually received by the individual to whose attention at Agent such notice is required to be sent. Any written notice or other communication that is not sent in
conformity with the foregoing provisions shall nevertheless be effective on the date actually received by the noticed party. Any notice received by Borrower Agent shall be deemed received by all Borrowers. 

  
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 14.3.2. Electronic Communications; Voice Mail. Electronic mail and internet websites
may be used only for routine communications, such as financial statements, Borrowing Base Certificates and other information required by Section 10.1.2, administrative matters, distribution of Loan Documents for execution, and matters
permitted under Section 4.1.4. Agent and Lenders make no assurances as to the privacy and security of electronic communications. Electronic and voice mail may not be used as effective notice under the Loan Documents. 

14.3.3. Non-Conforming Communications. Agent and Lenders may rely upon any notices purportedly given by or on behalf of any
Borrower even if such notices were not made in a manner specified herein, were incomplete or were not confirmed, or if the terms thereof, as understood by the recipient, varied from a later confirmation. Each Borrower shall indemnify and hold
harmless each Indemnitee from any liabilities, losses, costs and expenses arising from any telephonic communication purportedly given by or on behalf of a Borrower. 
 14.4. Performance of Borrowers’ Obligations. Agent may, in its discretion at any time and from time to time, at Borrowers’ expense, pay any amount or do any act required of a
Borrower under any Loan Documents or otherwise lawfully requested by Agent to (a) enforce any Loan Documents or collect any Obligations; (b) protect, insure, maintain or realize upon any Collateral; or (c) defend or maintain the
validity or priority of Agent’s Liens in any Collateral, including any payment of a judgment, insurance premium, warehouse charge, finishing or processing charge, or landlord claim, or any discharge of a Lien. All payments, costs and expenses
(including Extraordinary Expenses) of Agent under this Section shall be reimbursed to Agent by Borrowers, on demand, with interest from the date incurred to the date of payment thereof at the Default Rate applicable to Base Rate Revolver Loans. Any
payment made or action taken by Agent under this Section shall be without prejudice to any right to assert an Event of Default or to exercise any other rights or remedies under the Loan Documents. 

14.5. Credit Inquiries. Each Borrower hereby authorizes Agent and Lenders (but they shall have no obligation) to respond to
usual and customary credit inquiries from third parties concerning any Borrower or Subsidiary. 
 14.6.
Severability. Wherever possible, each provision of the Loan Documents shall be interpreted in such manner as to be valid under Applicable Law. If any provision is found to be invalid under Applicable Law, it shall be ineffective only to
the extent of such invalidity and the remaining provisions of the Loan Documents shall remain in full force and effect. 

14.7. Cumulative Effect; Conflict of Terms. The provisions of the Loan Documents are cumulative. The parties acknowledge
that the Loan Documents may use several limitations, tests or measurements to regulate similar matters, and they agree that these are cumulative and that each must be performed as provided. Except as otherwise provided in another Loan Document (by
specific reference to the applicable provision of this Agreement), if any provision contained herein is in direct conflict with any provision in another Loan Document, the provision herein shall govern and control. 

14.8. Counterparts. Any Loan Document may be executed in counterparts, each of which shall constitute an original, but all
of which when taken together shall constitute a single contract. This Agreement shall become effective when Agent has received counterparts bearing the signatures of all parties hereto. Delivery of a signature page of any Loan Document by telecopy
or other electronic means shall be effective as delivery of a manually executed counterpart of such agreement. 
 14.9.
Entire Agreement. Time is of the essence of the Loan Documents. The Loan Documents constitute the entire contract among the parties relating to the subject matter hereof, and 

  
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supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. 
 14.10. Relationship with Lenders. The obligations of each Lender hereunder are several, and no Lender shall be responsible for the obligations or Commitments of any other Lender. Amounts
payable hereunder to each Lender shall be a separate and independent debt. It shall not be necessary for Agent or any other Lender to be joined as an additional party in any proceeding for such purposes. Nothing in this Agreement and no action of
Agent or Lenders pursuant to the Loan Documents shall be deemed to constitute Agent and Lenders to be a partnership, association, joint venture or any other kind of entity, nor to constitute control of any Borrower. 

14.11. No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated by any Loan
Document, Borrowers acknowledge and agree that (a)(i) this credit facility and any related arranging or other services by Agent, any Lender, any of their Affiliates or any arranger are arm’s-length commercial transactions between Borrowers and
such Person; (ii) Borrowers have consulted their own legal, accounting, regulatory and tax advisors to the extent they have deemed appropriate; and (iii) Borrowers are capable of evaluating and understanding, and do understand and accept,
the terms, risks and conditions of the transactions contemplated by the Loan Documents; (b) each of Agent, Lenders, their Affiliates and any arranger is and has been acting solely as a principal in connection with this credit facility, is not
the financial advisor, agent or fiduciary for Borrowers, any of their Affiliates or any other Person, and has no obligation with respect to the transactions contemplated by the Loan Documents except as expressly set forth therein; and
(c) Agent, Lenders, their Affiliates and any arranger may be engaged in a broad range of transactions that involve interests that differ from those of Borrowers and their Affiliates, and have no obligation to disclose any of such interests to
Borrowers or their Affiliates. To the fullest extent permitted by Applicable Law, each Borrower hereby waives and releases any claims that it may have against Agent, Lenders, their Affiliates and any arranger with respect to any breach or alleged
breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated by a Loan Document. 

14.12. Confidentiality. Each of Agent, Lenders and Issuing Bank agrees to maintain the confidentiality of all Information
(as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, advisors and representatives (provided such Persons are informed
of the confidential nature of the Information and instructed to keep the Information confidential); (b) to the extent requested by any governmental, regulatory or self-regulatory authority purporting to have jurisdiction over it or its
Affiliates; (c) to the extent required by Applicable Law or by any subpoena or other legal process; (d) to any other party hereto; (e) in connection with any action or proceeding, or other exercise of rights or remedies, relating to
any Loan Documents or Obligations; (f) subject to an agreement containing provisions substantially the same as this Section, to any Transferee or any actual or prospective party (or its advisors) to any Bank Product; (g) with the consent
of Borrower Agent; or (h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section or (ii) is available to Agent, any Lender, Issuing Bank or any of their Affiliates on a
nonconfidential basis from a source other than Borrowers. Notwithstanding the foregoing, Agent and Lenders may publish or disseminate general information describing this credit facility, including the names and addresses of Borrowers and a general
description of Borrowers’ businesses, and may use Borrowers’ logos, trademarks or product photographs in advertising materials. As used herein, “Information” means all information received from an Obligor or Subsidiary relating
to it or its business that is identified as confidential when delivered. Any Person required to maintain the confidentiality of Information pursuant to this Section shall be deemed to have complied if it exercises the same degree of care that it
accords its own confidential information. Each of Agent, Lenders and Issuing Bank acknowledges that (i) Information may include material non-public information concerning an Obligor or Subsidiary; (ii) it has developed compliance
procedures regarding 

  
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the use of material non-public information; and (iii) it will handle such material non-public information in accordance with Applicable Law, including federal and state securities laws.

 14.13. Intentionally Omitted. 
 14.14. GOVERNING LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, UNLESS OTHERWISE SPECIFIED, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF CALIFORNIA, WITHOUT GIVING EFFECT TO ANY
CONFLICT OF LAW PRINCIPLES (BUT GIVING EFFECT TO FEDERAL LAWS RELATING TO NATIONAL BANKS). 
 14.15. Consent to Forum;
Arbitration. 
 14.15.1. Forum. EACH BORROWER HEREBY CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF ANY FEDERAL
OR STATE COURT SITTING IN OR WITH JURISDICTION OVER LOS ANGELES COUNTY, CALIFORNIA, IN ANY PROCEEDING OR DISPUTE RELATING IN ANY WAY TO ANY LOAN DOCUMENTS, AND AGREES THAT ANY SUCH PROCEEDING SHALL BE BROUGHT BY IT SOLELY IN ANY SUCH COURT. EACH
BORROWER IRREVOCABLY WAIVES ALL CLAIMS, OBJECTIONS AND DEFENSES THAT IT MAY HAVE REGARDING SUCH COURT’S PERSONAL OR SUBJECT MATTER JURISDICTION, VENUE OR INCONVENIENT FORUM. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE
MANNER PROVIDED FOR NOTICES IN SECTION 14.3.1. Nothing herein shall limit the right of Agent or any Lender to bring proceedings against any Obligor in any other court, nor limit the right of any party to serve process in any other manner
permitted by Applicable Law. Nothing in this Agreement shall be deemed to preclude enforcement by Agent of any judgment or order obtained in any forum or jurisdiction. 
 14.15.2. Arbitration. Notwithstanding any other provision of this Agreement to the contrary, any controversy or claim among the parties relating in any way to any Obligations or Loan Documents,
including any alleged tort, shall at the request of any party hereto be determined by binding arbitration conducted in accordance with the United States Arbitration Act (Title 9 U.S. Code). Arbitration proceedings will be determined in accordance
with the Act, the then-current rules and procedures for the arbitration of financial services disputes of the American Arbitration Association (“AAA”), and the terms of this Section. In the event of any inconsistency, the terms of this
Section shall control. If AAA is unwilling or unable to serve as the provider of arbitration or to enforce any provision of this Section, Agent may designate another arbitration organization with similar procedures to serve as the provider of
arbitration. The arbitration proceedings shall be conducted in Los Angeles or Pasadena, California. The arbitration hearing shall commence within 90 days of the arbitration demand and close within 90 days thereafter. The arbitration award must be
issued within 30 days after close of the hearing (subject to extension by the arbitrator for up to 60 days upon a showing of good cause), and shall include a concise written statement of reasons for the award. The arbitrator shall give effect to
applicable statutes of limitation in determining any controversy or claim, and for these purposes, service on AAA under applicable AAA rules of a notice of claim is the equivalent of the filing of a lawsuit. Any dispute concerning this Section or
whether a controversy or claim is arbitrable shall be determined by the arbitrator. The arbitrator shall have the power to award legal fees to the extent provided by this Agreement. Judgment upon an arbitration award may be entered in any court
having jurisdiction. The arbitrator shall not have the power to commit errors of law or legal reasoning, and any award may be reviewed and vacated or corrected on appeal to a court of competent jurisdiction for any such error. The institution and
maintenance of an action for judicial relief or pursuant to a provisional or ancillary remedy shall not constitute a waiver of the right of any party, including the plaintiff, to submit the controversy or claim to arbitration if any other party
contests such action for judicial relief. No controversy or claim 

  
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shall be submitted to arbitration without the consent of all parties if, at the time of the proposed submission, such controversy or claim relates to an obligation secured by Real Estate, but if
all parties do not consent to submission of such a controversy or claim to arbitration, it shall be determined as provided in the next sentence. At the request of any party, a controversy or claim that is not submitted to arbitration as provided
above shall be determined by judicial reference; and if such an election is made, the parties shall designate to the court a referee or referees selected under the auspices of the AAA in the same manner as arbitrators are selected in AAA sponsored
proceedings and the presiding referee of the panel (or the referee if there is a single referee) shall be an active attorney or retired judge; and judgment upon the award rendered by such referee or referees shall be entered in the court in which
proceeding was commenced. None of the foregoing provisions of this Section shall limit the right of Agent or Lenders to exercise self-help remedies, such as setoff, foreclosure or sale of any Collateral or to obtain provisional or ancillary remedies
from a court of competent jurisdiction before, after or during any arbitration proceeding. The exercise of a remedy does not waive the right of any party to resort to arbitration or reference. At Agent’s option, foreclosure under a Mortgage may
be accomplished either by exercise of power of sale thereunder or by judicial foreclosure. 
 14.16. Waivers by
Borrowers. To the fullest extent permitted by Applicable Law, each Borrower waives (a) the right to trial by jury (which Agent and each Lender hereby also waives) in any proceeding or dispute of any kind relating in any way to any Loan
Documents, Obligations or Collateral; (b) presentment, demand, protest, notice of presentment, default, non-payment, maturity, release, compromise, settlement, extension or renewal of any commercial paper, accounts, documents, instruments,
chattel paper and guaranties at any time held by Agent on which a Borrower may in any way be liable, and hereby ratifies anything Agent may do in this regard; (c) notice prior to taking possession or control of any Collateral; (d) any bond
or security that might be required by a court prior to allowing Agent to exercise any rights or remedies; (e) the benefit of all valuation, appraisement and exemption laws; (f) any claim against Agent or any Lender, on any theory of
liability, for special, indirect, consequential, exemplary or punitive damages (as opposed to direct or actual damages) in any way relating to any Enforcement Action, Obligations, Loan Documents or transactions relating thereto; and (g) notice
of acceptance hereof. Each Borrower acknowledges that the foregoing waivers are a material inducement to Agent and Lenders entering into this Agreement and that Agent and Lenders are relying upon the foregoing in their dealings with Borrowers.
Each Borrower has reviewed the foregoing waivers with its legal counsel and has knowingly and voluntarily waived its jury trial and other rights following consultation with legal counsel. In the event of litigation, this Agreement may be filed as a
written consent to a trial by the court. 
 14.17. Patriot Act Notice. Agent and Lenders hereby notify
Borrowers that pursuant to the requirements of the Patriot Act, Agent and Lenders are required to obtain, verify and record information that identifies each Borrower, including its legal name, address, tax ID number and other information that will
allow Agent and Lenders to identify it in accordance with the Patriot Act. Agent and Lenders will also require information regarding each personal guarantor, if any, and may require information regarding Borrowers’ management and owners, such
as legal name, address, social security number and date of birth. 
 14.18. Intercreditor Agreement. The
provisions of this Agreement are in all respects subject to the terms and provisions of the Intercreditor Agreement, including the relative rights, obligations and priorities with respect to Collateral (but such Intercreditor Agreement shall not
impart any rights on any Borrower or Guarantor). 
 14.19. Inclusion of Energy Services Group. Each Lender
acknowledges that it is currently considering consenting to the inclusion of Headwaters Energy Services Corporation and each of its Subsidiaries as Borrowers hereunder. Each Borrower acknowledges and agrees that the consent of each

  
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Lender to include such Persons as Borrowers hereunder would be in the sole discretion of each Lender and would be subject to completion of business and legal due diligence by each Lender and
approval of each Lender’s credit committee (for clarification, the inclusion of such Persons as Borrowers shall require the consent of all Lenders). Nothing contained in this Section 14.19 shall constitute a commitment by any
Lender, or an agreement to deliver such a commitment. 
 [Remainder of page intentionally left blank; signatures begin on
following page] 

  
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 IN WITNESS WHEREOF, this Agreement has been executed and delivered as of the date set
forth above. 
  

			
	BORROWERS:
	
	 HEADWATERS RESOURCES, INC.,
 a Utah corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430

  

			
	 METAMORA PRODUCTS CORPORATION OF ELKLAND,
 a Pennsylvania corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430

 
			
	 HEADWATERS SERVICES CORPORATION,
 a Utah corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 HEADWATERS CONSTRUCTION MATERIALS, INC.,
 a Utah corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 HCM UTAH, LLC, 
 a Utah limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430

 
			
	 HEADWATERS CONSTRUCTION MATERIALS, LLC,
 a Texas limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 HCM STONE, LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 DUTCH QUALITY STONE, INC., 
 an Ohio corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430

  

 
			
	 ELDORADO SC-ACQUISITION CO.,
 a Utah corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 ELDORADO G-ACQUISITION CO.,
 a Utah corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 ELDORADO STONE LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430

 
			
	 ELDORADO STONE ACQUISITION CO., LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 ELDORADO STONE FUNDING CO., LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 STONECRAFT MANUFACTURING, LLC, 
 an Ohio limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430

 
			
	 CHIHUAHUA STONE, LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 ELDORADO STONE OPERATIONS, LLC,
 a Utah limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 L-B STONE, LLC, 
 a Utah limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430

  

 
			
	 TAPCO INTERNATIONAL CORPORATION,
 a Michigan corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 METAMORA PRODUCTS CORPORATION,
 a Michigan corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 MTP, INC., 

an Ohio corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430

 
			
	 ATLANTIC SHUTTER SYSTEMS, INC.,
 a South Carolina corporation

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 INSPIRE SERVICES, LLC,
 a Michigan limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430
	
	 STONECRAFT SALES, LLC,
 a Michigan limited liability company

		
	By:	 	 /s/ Steven G. Stewart

	Name:	 	 Steven G. Stewart

	Title:	 	 Chief Financial Officer

	Address:	 	
		 	10653 S. River Front Parkway, Suite 300
		 	South Jordan, UT 84095
		 	Attn: General Counsel
		 	Telecopy: (801) 984-3430

 
			
	AGENT AND LENDERS:
	
	 BANK OF AMERICA, N.A.,
 as Agent and Lender

		
	By:	 	 /s/ Todd Eggertsen

	Name:	 	Todd Eggertsen
	Title:	 	Vice President
		
	Address:	 	
		 	55 S. Lake Ave.; Suite 900
		 	Pasadena, California 91101
		 	Attn: Todd Eggertsen or Account Executive
		 	Telecopy: (626) 584-4602
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	 /s/ Daryl Hagstrom

	Name:	 	Daryl Hagstrom
	Title:	 	Senior Vice President
	Address:	 	
		 	U.S. Bank Asset Based Finance
		 	One U.S. Bank Plaza, 5th Floor
		 	SL-MO-T5BC
		 	St. Louis, Missouri 63101
		 	Attn: Daryl Hagstrom
		 	Telecopy: (314) 418-8555
	
	 ZIONS FIRST NATIONAL BANK,
 as a Lender

		
	By:	 	 /s/ Tracy A. Groll

	Name:	 	Tracy A. Groll
	Title:	 	Senior Vice President
	Address:	 	
		 	One South Main Street, Suite 300
		 	Salt Lake City, UT 84133
		 	Attn: Tracy A. Groll, Senior Vice President
		 	Telecopy: (801) 524-2136

 EXHIBIT A 
 to 
 Loan and Security Agreement 

REVOLVER NOTE 
  

					
	 [Date]
	  	$[        ]	  	[Pasadena, CA]

 HEADWATERS
CONSTRUCTION MATERIALS, INC., a Utah corporation (“HCM”), TAPCO INTERNATIONAL CORPORATION, a Michigan corporation (“Tapco”), HEADWATERS RESOURCES, INC., a Utah corporation (“HRI”, and together with
HCM, Tapco, each of HRI’s, HCM’s and Tapco’s Subsidiaries identified on the signature pages of the Loan Agreement and any other Person that at any time after the date hereof becomes a Borrower in accordance with the terms of the Loan
Agreement, each individually a “Borrower”, and collectively, the “Borrowers”), for value received, hereby unconditionally promise to pay, on a joint and several basis, to the order of
[                    ] (“Lender”), the principal sum of [        ] DOLLARS
($[        ]), or such lesser amount as may be advanced by Lender as Revolver Loans and owing as LC Obligations from time to time under the Loan Agreement described below, together with all accrued and
unpaid interest thereon. Terms are used herein as defined in the Loan and Security Agreement dated as of October 27, 2009, among Borrowers, Bank of America, N.A., as Agent, Lender, and certain other financial institutions, as such agreement may
be amended, modified, renewed or extended from time to time (“Loan Agreement”). 
 Principal of
and interest on this Note from time to time outstanding shall be due and payable as provided in the Loan Agreement. This Note is issued pursuant to and evidences Revolver Loans and LC Obligations under the Loan Agreement, to which reference is made
for a statement of the rights and obligations of Lender and the duties and obligations of Borrowers. The Loan Agreement contains provisions for acceleration of the maturity of this Note upon the happening of certain stated events, and for the
borrowing, prepayment and reborrowing of amounts upon specified terms and conditions. 
 The holder of this Note is hereby
authorized by Borrowers to record on a schedule annexed to this Note (or on a supplemental schedule) the amounts owing with respect to Revolver Loans and LC Obligations, and the payment thereof. Failure to make any notation, however, shall not
affect the rights of the holder of this Note or any obligations of Borrowers hereunder or under any other Loan Documents. 

Time is of the essence of this Note. Each Borrower and all endorsers, sureties and guarantors of this Note hereby severally waive demand,
presentment for payment, protest, notice of protest, notice of intention to accelerate the maturity of this Note, diligence in collecting, the bringing of any suit against any party, and any notice of or defense on account of any extensions,
renewals, partial payments, or changes in any manner of or in this Note or in any of its terms, provisions and covenants, or any releases or substitutions of any security, or any delay, indulgence or other act of any trustee or any holder hereof,
whether before or after maturity. Borrowers jointly and severally agree to pay, and to save the holder of this Note harmless against, any liability for the payment of all costs and expenses (including without limitation reasonable attorneys’
fees) if this Note is collected by or through an attorney-at-law. 
 In no contingency or event whatsoever shall the amount paid
or agreed to be paid to the holder of this Note for the use, forbearance or detention of money advanced hereunder exceed the highest lawful rate permitted under Applicable Law. If any such excess amount is inadvertently paid by Borrowers or
inadvertently received by the holder of this Note, such excess shall be returned to Borrowers or credited as a payment of principal, in accordance with the Loan Agreement. It is the intent hereof that Borrowers not pay or contract to pay, and that
holder of this Note not receive or contract to receive, directly or 

 
indirectly in any manner whatsoever, interest in excess of that which may be paid by Borrowers under Applicable Law. 
 This Note shall be governed by the laws of the State of California, without giving effect to any conflict of law principles (but giving effect to federal laws relating to national banks). 

IN WITNESS WHEREOF, this Revolver Note is executed as of the date set forth above. 

 

							
	Attest:	 		 	 HEADWATERS RESOURCES, INC.,
 a Utah corporation

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	METAMORA PRODUCTS CORPORATION OF ELKLAND,
		 		 	a Pennsylvania corporation
			
	  
	 		 	
	Secretary	 		 		 	
		 		 	By:	 	  

	[Seal]	 		 	Name:	 	  

		 		 	Title:	 	  

			
	Attest:	 		 	 HEADWATERS SERVICES CORPORATION,
 a Utah corporation 

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	HEADWATERS CONSTRUCTION MATERIALS, INC.,
		 		 	a Utah corporation
			
	  
	 		 	
	Secretary	 		 		 	
		 		 	By:	 	  

	[Seal]	 		 	Name:	 	  

		 		 	Title:	 	  

  
 – A - 2
– 

							
	Attest:	 		 	 HCM UTAH, LLC,
 a Utah limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	HEADWATERS CONSTRUCTION MATERIALS, LLC,
		 		 	a Texas limited liability company
			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 HCM STONE, LLC,
 a Utah limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 DUTCH QUALITY STONE, INC.,
 an Ohio corporation

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 ELDORADO SC-ACQUISITION CO.,
 a Utah corporation

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

  
 – A - 3
– 

							
	Attest:	 		 	 ELDORADO G-ACQUISITION CO.,
 a Utah corporation

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 ELDORADO STONE LLC,
 a Delaware limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 ELDORADO STONE ACQUISITION CO., LLC,
 a Utah limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 ELDORADO STONE FUNDING CO., LLC,
 a Utah limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 STONECRAFT MANUFACTURING, LLC,
 an Ohio limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

  
 – A - 4
– 

							
	Attest:	 		 	 CHIHUAHUA STONE, LLC,
 a Utah limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 ELDORADO STONE OPERATIONS, LLC,
 a Utah limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 L-B STONE, LLC,
 a Utah limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 TAPCO INTERNATIONAL CORPORATION,
 a Michigan corporation

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 METAMORA PRODUCTS CORPORATION,
 a Michigan corporation

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

  
 – A - 5
– 

							
	Attest:	 		 	 MTP, INC.,

an Ohio corporation

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 ATLANTIC SHUTTER SYSTEMS, INC.,
 a South Carolina corporation

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 INSPIRE SERVICES, LLC,
 a Michigan limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

			
	Attest:	 		 	 STONECRAFT SALES, LLC,
 a Michigan limited liability company

			
	  
	 		 	
	Secretary	 		 	By:	 	  

		 		 	Name:	 	  

	[Seal]	 		 	Title:	 	  

  
 – A - 6
– 

 EXHIBIT B 
 to 
 Loan and Security Agreement 

ASSIGNMENT AND ACCEPTANCE 
 Reference is made to the Loan and Security Agreement dated as of October 27, 2009, as amended (“Loan Agreement”), among HEADWATERS CONSTRUCTION MATERIALS, INC., a Utah
corporation (“HCM”), TAPCO INTERNATIONAL CORPORATION, a Michigan corporation (“Tapco”), HEADWATERS RESOURCES, INC., a Utah corporation (“HRI”, and together with HCM, Tapco, each of
HRI’s, HCM’s and Tapco’s Subsidiaries identified on the signature pages thereof and any other Person that at any time after the date hereof becomes a Borrower in accordance with the terms thereof, each individually a
“Borrower”, and collectively, the “Borrowers”), BANK OF AMERICA, N.A., as agent (“Agent”) for the financial institutions from time to time party to the Loan Agreement
(“Lenders”), and such Lenders. Terms are used herein as defined in the Loan Agreement. 

[                    ]
(“Assignor”) and [                    ] (“Assignee”) agree as follows: 

1. Assignor hereby assigns to Assignee and Assignee hereby purchases and assumes from Assignor (a) a principal amount of
$[        ] of Assignor’s outstanding Revolver Loans and $[        ] of Assignor’s participations in LC Obligations, and (b) the amount of
$[        ] of Assignor’s Revolver Commitment (which represents [    ]% of the total Revolver Commitments) (the foregoing items being, collectively, the “Assigned
Interest”), together with an interest in the Loan Documents corresponding to the Assigned Interest. This Agreement shall be effective as of the date (“Effective Date”) indicated in the corresponding Assignment Notice
delivered to Agent, provided such Assignment Notice is executed by Assignor, Assignee, Agent and Borrower Agent, if applicable. From and after the Effective Date, Assignee hereby expressly assumes, and undertakes to perform, all of Assignor’s
obligations in respect of the Assigned Interest, and all principal, interest, fees and other amounts which would otherwise be payable to or for Assignor’s account in respect of the Assigned Interest shall be payable to or for Assignee’s
account, to the extent such amounts accrue on or after the Effective Date. 
 2. Assignor
(a) represents that as of the date hereof, prior to giving effect to this assignment, its Revolver Commitment is $[        ], and the outstanding balance of its Revolver Loans and participations in
LC Obligations is $[        ]; (b) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the
Loan Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Agreement or any other instrument or document furnished pursuant thereto, other than that Assignor is the legal and beneficial owner
of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim; and
© makes no representation or warranty and assumes no responsibility with respect to the financial condition of
Borrowers or the performance by Borrowers of their obligations under the Loan Documents. [Assignor is attaching the Note[s] held by it and requests that Agent exchange such Note[s] for new Notes payable to Assignee [and Assignor].] 

3. Assignee (a) represents and warrants that it is legally authorized to enter into this Assignment and Acceptance;
(b) confirms that it has received copies of the Loan Agreement and 

 
such other Loan Documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Acceptance; © agrees that it shall, independently and without reliance upon Assignor and based on such documents and information
as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents; (d) confirms that it is an Eligible Assignee; (e) appoints and authorizes Agent to take such
action as agent on its behalf and to exercise such powers under the Loan Agreement as are delegated to Agent by the terms thereof, together with such powers as are incidental thereto; (f) agrees that it will observe and perform all obligations
that are required to be performed by it as a “Lender” under the Loan Documents; and (g) represents and warrants that the assignment evidenced hereby will not result in a non-exempt “prohibited transaction” under
Section 406 of ERISA. 
 4. This Agreement shall be governed by the laws of the State of California. If any provision is found to be
invalid under Applicable Law, it shall be ineffective only to the extent of such invalidity and the remaining provisions of this Agreement shall remain in full force and effect. 
 5. Each notice or other communication hereunder shall be in writing, shall be sent by messenger, by telecopy or facsimile transmission, or by first-class mail, shall be deemed given when sent and shall be
sent as follows: 
  

	 	(a)	If to Assignee, to the following address (or to such other address as Assignee may designate from time to time): 

 

							
		 	________________________________________	 	
		 	________________________________________	 	
		 	________________________________________	 	

  

	 	(b)	If to Assignor, to the following address (or to such other address as Assignor may designate from time to time): 

 

							
		 	________________________________________	 	
		 	________________________________________	 	
		 	________________________________________	 	
		 	________________________________________	 	

 Payments hereunder shall be made by wire transfer of immediately available Dollars as follows: 

If to Assignee, to the following account (or to such other account as Assignee may designate from time to time): 

 

							
		 	________________________________________	 	
		 	________________________________________	 	
		 	 ABA No._________________________________
	 		 	
		 	 ________________________________________
	 	
		 	 Account No.______________________________
	 		 	
		 	 Reference: ________________________________
	 		 	

 If to Assignor, to the following account (or to such other account as Assignor may designate from time to time):

  

							
		 	________________________________________	 	
		 	________________________________________	 	

  
 – B - 2
– 

							
		 	 ABA No._________________________________
	 		 	
		 	 ________________________________________
	 	
		 	 Account No.______________________________
	 		 	
		 	 Reference: ________________________________
	 		 	

  
 – B - 3
– 

 IN WITNESS WHEREOF, this Assignment and Acceptance is executed as of
[                    ]. 
  

			
	  

	(“Assignee”)	 	

			
		
	By:	 	  

			
	Name:	 	  

	Title:	 	  

			
	
	  

	(“Assignor”)	 	

			
		
	By:	 	  

			
	Name:	 	  

	Title:	 	  

  
 – B - 4
– 

 EXHIBIT C 
 to 
 Loan and Security Agreement 

ASSIGNMENT NOTICE 

Reference is made to (1) the Loan and Security Agreement dated as of October 27, 2009, as amended (“Loan Agreement”), among
HEADWATERS CONSTRUCTION MATERIALS, INC., a Utah corporation (“HCM”), TAPCO INTERNATIONAL CORPORATION, a Michigan corporation (“Tapco”), HEADWATERS RESOURCES, INC., a Utah corporation
(“HRI”, and together with HCM, Tapco, each of HRI’s, HCM’s and Tapco’s Subsidiaries identified on the signature pages thereof and any other Person that at any time after the date hereof becomes a Borrower in
accordance with the terms thereof, each individually a “Borrower”, and collectively, the “Borrowers”), BANK OF AMERICA, N.A., as agent (“Agent”) for the financial institutions from time to
time party to the Loan Agreement (“Lenders”), and such Lenders; and (2) the Assignment and Acceptance dated as of [            ],
20     (“Assignment Agreement”), between [                    ]
(“Assignor”) and [                    ] (“Assignee”). Terms are used herein as defined in the Loan
Agreement. 
 Assignor hereby notifies Borrowers and Agent of Assignor’s intent to assign to Assignee pursuant to the Assignment Agreement
(a) a principal amount of $[        ] of Assignor’s outstanding Revolver Loans and $[        ] of Assignor’s participations in LC
Obligations, and (b) the amount of $[        ] of Assignor’s Revolver Commitment (which represents [    ]% of the total Revolver Commitments) (the foregoing items
being, collectively, the “Assigned Interest”), together with an interest in the Loan Documents corresponding to the Assigned Interest. This Agreement shall be effective as of the date (“Effective Date”) indicated
below, provided this Assignment Notice is executed by Assignor, Assignee, Agent and Borrower Agent, if applicable. Pursuant to the Assignment Agreement, Assignee has expressly assumed all of Assignor’s obligations under the Loan Agreement to
the extent of the Assigned Interest, as of the Effective Date. 
 For purposes of the Loan Agreement, Agent shall deem Assignor’s Revolver
Commitment to be reduced by $[        ], and Assignee’s Revolver Commitment to be increased by $[        ]. 

The address of Assignee to which notices and information are to be sent under the terms of the Loan Agreement is: 

 

					
		  	 	  	
		  	 	  	
		  	 	  	

 The address of Assignee to which payments are to be sent under the terms of the Loan Agreement is
shown in the Assignment and Acceptance. 
 This Notice is being delivered to Borrowers and Agent pursuant to Section 13.3 of the
Loan Agreement. Please acknowledge your acceptance of this Notice by executing and returning to Assignee and Assignor a copy of this Notice. 

 IN WITNESS WHEREOF, this Assignment Notice is executed as of
[                    ]. 
  

			
	    
	  

(“Assignee”)

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	     

	(“Assignor”)
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 ACKNOWLEDGED AND AGREED, 
 AS OF THE DATE SET FORTH ABOVE: 

BORROWER AGENT:* 
 HEADWATERS
RESOURCES, INC., 
 a Utah Corporation, as Borrower Agent 
  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

 

	*	No signature required if Assignee is a Lender, U.S.-based Affiliate of a Lender or Approved Fund, or if an Event of Default exists. 

BANK OF AMERICA, N.A., 
 as Agent

  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 – C - 2
– 

 DISCLOSURE SCHEDULES 

Schedule P-1 
 Investments 
 Headwaters Resources, Inc. owns 90% of the Equity Interests in
FlexCrete Building Systems, LC. 

  
 Schedule P-l-
1 

 Schedule 1.1 
 Commitments of Lenders 
  

					
	 Lender
	  	Revolver Commitment	 
	 Bank of America, N.A.
	  	$	35,000,000.00	  
	 U.S. Bank National Association
	  	$	25,000,000.00	  
	 Zions First National Bank
	  	$	10,000,000.00	  
		  	 	 	 
	 Total Commitments
	  	$	70,000,000.00	  

  
 Schedule 1.1-
1 

 Schedule 7.3.1 

Real Estate Collateral 
  

											
	 Owner
	  	 Facility
	  	 Address
	  	City	  	State	  	Zip
	
	 HRI Group

	Headwaters Resources, Inc.	  	Pomona Terminal and Storage	  	1345 E. Philadelphia St., Ste 100	  	Pomona	  	CA	  	91776
	
	 SCP Group

	Headwaters Construction Materials, LLC	  	Ackerman Production Facility	  	2233 Ackerman Road	  	San Antonio	  	TX	  	78219
						
	Headwaters Construction Materials, LLC	  	Alleyton Production Facility	  	2088 FM 949	  	Alleyton	  	TX	  	78935
						
	Headwaters Construction Materials, LLC	  	Dallas Production Facility	  	2202 Chalk Hill Road	  	Dallas	  	TX	  	75212
						
	Headwaters Construction Materials, LLC	  	Palestine Production Facility	  	2500 W. Reagan	  	Palestine	  	TX	  	75802
	
	 Tapco Group

	Tapco International Corporation	  	Tapco HQ	  	29797 Beck Road	  	Wixom	  	MI	  	48393
						
	Tapco International Corporation	  	Imlay City Production Facility	  	558 Morrice Blvd.	  	Imlay City	  	MI	  	48444
						
	 Metamora Products Corporation &
 Metamora Products Corporation of Elkland
	  	Elkland Production Facility	  	Industrial Parkway	  	Elkland	  	PA	  	16920
						
	Metamora Products Corporation	  	Metamora Production Facility	  	4057 S. Oak Street	  	Metamora	  	MI	  	48455
						
	Metamora Products Corporation	  	Metamora Production Facility	  	4209 S. Oak Street	  	Metamora	  	MI	  	48455
						
	Metamora Products Corporation	  	R&D Facility	  	3939 S. Timbro Drive	  	Metamora	  	MI	  	48455
						
	Metamora Products Corporation	  	R&D Facility	  	3951 S. Timbro Drive	  	Metamora	  	MI	  	48455
						
	Tapco International Corporation	  	Franklin Production Facility	  	200 Shotwell Drive	  	Franklin	  	OH	  	45005

  
 Schedule
7.3.1- 1 

 Schedule 8.5 
 Deposit and Other Accounts* 
  

							
	 Entity
	 	 Account Number
	    	 Bank
	    	 Purpose

	Headwaters Incorporated	 	641403407	    	JPMorgan Chase Bank (UT)	    	Main HW operating account
	Headwaters Incorporated	 	641403415	    	JPMorgan Chase Bank (UT)	    	Payroll
	Headwaters Incorporated	 	641403662	    	JPMorgan Chase Bank (UT)	    	Medical claims processing
	Headwaters Incorporated	 	641408596	    	JPMorgan Chase Bank (UT)	    	Medical claims processing
	Headwaters Incorporated	 	650180888	    	JPMorgan Chase Bank (OH)	    	Main HW disbursement account
	Headwaters Incorporated	 	708134515	    	JPMorgan Chase Bank (UT)	    	Lease payment account
	Headwaters Resources, Inc.	 	649035342*	    	JPMorgan Chase Bank (TX)	    	Cash collection / receipting
	Headwaters Resources, Inc.	 	686601774*	    	JPMorgan Chase Bank (TX)	    	Cash collection / receipting
	Headwaters Resources, Inc.	 	708064985*	    	JPMorgan Chase Bank (UT)	    	Cash collection / receipting
	Headwaters Resources, Inc.	 	708064993*	    	JPMorgan Chase Bank (UT)	    	Cash collection / receipting
	Headwaters Resources, Inc.	 	708134192	    	JPMorgan Chase Bank (UT)	    	Lease payment account
	Headwaters Resources, Inc.	 	4663389101	    	JPMorgan Chase Bank Canada	    	Canada disbursements / receipts
	Headwaters Resources, Inc.	 	4793446456	    	Bank of America	    	Petty cash
	Headwaters Resources, Inc.	 	1200030086	    	Summit Bank	    	Petty cash
	Headwaters Resources, Inc.	 	2323850	    	Texas Bank & Trust	    	Petty cash
	Headwaters Resources, Inc.	 	472052	    	Pine Bluff National	    	Petty cash
	Headwaters Resources, Inc.	 	5745468562	    	Bank of America	    	Petty cash
	Headwaters Resources, Inc.	 	6145113053	    	Wells Fargo	    	Petty cash
	Headwaters Resources, Inc.	 	1235559	    	Merchants & Planters	    	Petty cash
	Headwaters Resources, Inc.	 	1592255820	    	Chase	    	Petty cash
	Headwaters Resources, Inc.	 	300015580	    	Amegy Bank	    	Petty cash
	Headwaters Resources, Inc.	 	5740487	    	First Star Bank	    	Petty cash
	Headwaters Resources, Inc.	 	741809818	    	Capital One	    	Petty cash
	Headwaters Resources, Inc.	 	3200132	    	First Star Bank	    	Petty cash
	Headwaters Resources, Inc.	 	2356335	    	First United Bank and Trust	    	Petty cash
	Headwaters Resources, Inc.	 	741809818	    	Capital One	    	Petty cash
	Headwaters Resources, Inc.	 	8002045055	    	City National Bank	    	Petty cash
	Headwaters Resources, Inc.	 	2000031907439	    	Wachovia	    	Petty cash
	Headwaters Resources, Inc.	 	24556224	    	Wachovia	    	Petty cash
	Headwaters Resources, Inc.	 	2018414521660	    	Wachovia	    	Petty cash
	Headwaters Resources, Inc.	 	02-66730876	    	Home Loan	    	Petty cash

  

	*	Account numbers followed by a “*” are Dominion Accounts. 

  
 Schedule 8.5-
1 

							
	 Entity
	 	 Account Number
	    	 Bank
	    	 Purpose

	Headwaters Resources, Inc.	 	1114024	    	River Hills Bank	    	Petty cash
	Headwaters Resources, Inc.	 	56-7873-3665	    	PNC Bank	    	Petty cash
	Headwaters Resources, Inc.	 	5175851390	    	BB&T Bank	    	Petty cash
	Headwaters Resources, Inc.	 	137626	    	First National- Sparta	    	Petty cash
	Headwaters Resources, Inc.	 	199516	    	First National Bank of Peterstown	    	Petty cash
	Headwaters Construction Materials, LLC	 	635889157*	    	JPMorgan Chase Bank (UT)	    	Cash collection / receipting
	Headwaters Construction Materials, LLC	 	641404041	    	JPMorgan Chase Bank (UT)	    	Disbursement / minor cash receipts
	Headwaters Construction Materials, LLC	 	0001390287	    	First National Bank	    	Minor Deposits
	Headwaters Construction Materials, LLC	 	3400800169	    	Capital One Bank	    	Minor Deposits
	Eldorado Stone LLC	 	641404025	    	JPMorgan Chase Bank (UT)	    	Main operating account / receipts
	Eldorado Stone LLC	 	641404033	    	JPMorgan Chase Bank (UT)	    	Payroll
	Eldorado Stone LLC	 	686723933*	    	JPMorgan Chase Bank (TX)	    	Cash collection / receipting
	Eldorado Stone LLC	 	686723966	    	JPMorgan Chase Bank (OH)	    	Disbursement
	Eldorado Stone LLC	 	687037846	    	JPMorgan Chase Bank (OH)	    	Manual payroll processing
	Eldorado Stone LLC	 	3410074389	    	Banco de Oro	    	Capital related
	Eldorado Stone LLC	 	472851003237	    	Key Bank	    	Used for free notary service
	Eldorado Stone LLC	 	195243	    	Graystone Tower Bank	    	Petty cash
	Eldorado Stone LLC	 	985227305	    	National City Bank	    	Used to pay omish vendors
	Tapco International Corporation	 	686628520	    	JPMorgan Chase Bank (UT)	    	Benefits payments
	Tapco International Corporation	 	686628538	    	JPMorgan Chase Bank (UT)	    	Payroll
	Tapco International Corporation	 	686628546	    	JPMorgan Chase Bank (UT)	    	Payroll
	Tapco International Corporation	 	686628553	    	JPMorgan Chase Bank (UT)	    	Payroll
	Tapco International Corporation	 	686628561	    	JPMorgan Chase Bank (UT)	    	Payroll
	Tapco International Corporation	 	686628579	    	JPMorgan Chase Bank (UT)	    	Payroll
	Tapco International Corporation	 	686628595*	    	JPMorgan Chase Bank (TX)	    	Cash collection / receipting
	Tapco International Corporation	 	686628637	    	JPMorgan Chase Bank (UT)	    	Main operating account
	Tapco International Corporation	 	686628652	    	JPMorgan Chase Bank (OH)	    	Disbursement
	Tapco International Corporation	 	11349961	    	Lloyds TSB	    	Deposits / disbursements
	Tapco International Corporation	 	02016334	    	Lloyds TSB	    	
	Tapco International Corporation	 	86053975	    	Lloyds TSB	    	
	Tapco International Corporation	 	1204881	    	Citizens & Northern Bank	    	
	Tapco International Corporation	 	14030764	    	Lapeer County Bank & Trust Co.	    	
	Tapco International Corporation	 	12039012	    	Lapeer County Bank & Trust Co.	    	
	Tapco International Corporation	 	681157205301	    	First Citizens	    	
	Tapco International Corporation	 	1204890	    	Citizens & Northern Bank	    	

  
 Schedule 8.5-
2 

 Schedule 8.6.1 

Business Locations 
  

									
	  	  	 Physical Address
	  	 City
	  	 State
	  	 Zip Code

	1.	  	10653 S. River Front Pkwy, Suites 300 & 250	  	South Jordan	  	UT	  	84095
	2.	  	1696 Marquette	  	Bay City	  	MI	  	48706
	3.	  	3045 W. 28TH Street	  	Pine Bluff	  	AR	  	71603
	4.	  	2233 Ackerman Road	  	San Antonio	  	TX	  	78219
	5.	  	2088 FM 949	  	Alleyton	  	TX	  	78935
	6.	  	2202 Chalk Hill Road	  	Dallas	  	TX	  	75212
	7.	  	2500 W. Reagan	  	Palestine	  	TX	  	75802
	8.	  	5559 Highway 90A West	  	Eagle Lake	  	TX	  	77434
	9.	  	10538 Beaumont Highway	  	Houston	  	TX	  	77078
	10.	  	18093 Dover Rd.	  	Mt. Eaton	  	OH	  	44659
	11.	  	18012 Dover Rd	  	Mt. Eaton	  	OH	  	44659
	12.	  	1535 Nandina Ave.	  	Perris	  	CA	  	92571
	13.	  	1200 Industry Street	  	Everett	  	WA	  	98203

 Schedule 8.6.1- 1 

  

									
	 	  	 Physical Address
	  	 City
	  	 State
	  	 Zip Code

	14.	  	9156 Molly Pitcher Highway	  	Greencastle	  	PA	  	17225
	15.	  	11710 Hopewell Rd.	  	Hagerstown	  	MD	  	21740
	16.	  	8300 County Rd. 189	  	Holmesville	  	OH	  	44633
	17.	  	17250 & 17300 Perris Blvd	  	Moreno Valley	  	CA	  	92551
	18.	  	Lot 58, Airport Industrial Park Subdivision	  	Pueblo	  	CO	  	81001
	19.	  	9550 Hermosa Avenue	  	Rancho Cucamonga	  	CA	  	91730
	20.	  	3997 Road 13.6 SW	  	Royal City	  	WA	  	99357
	21.	  	1825 Enterprise Parkway	  	Wooster	  	OH	  	44691
	22.	  	29797 Beck Road	  	Wixom	  	MI	  	48393
	23.	  	3217 Highway 301 No	  	Latta	  	SC	  	29565
	24.	  	558 Morrice Blvd.	  	Imlay City	  	MI	  	48444
	25.	  	Industrial Parkway	  	Elkland	  	PA	  	16920
	26.	  	4057 & 4209 S. Oak Street	  	Metamora	  	MI	  	48455
	27.	  	200 Shotwell Drive	  	Franklin	  	OH	  	45005
	28.	  	3939 & 3951 S. Timbro Drive	  	Metamora	  	MI	  	48455
	29.	  	4827 Dryden Road	  	Dryden	  	MI	  	48428

 Schedule 8.6.1- 2 

  

									
	  	  	 Physical Address
	  	 City
	  	 State
	  	 Zip Code

	30.	  	1370 Grand Avenue, Buildings A&B	  	San Marcos	  	CA	  	92078
	31.	  	1410 Grand Avenue, Suites A-E	  	San Marcos	  	CA	  	92078
	32.	  	1420 Grand Avenue, Suites A-H	  	San Marcos	  	CA	  	92078

 Schedule 8.6.1- 3

  

 Schedule 9.1.4 

I. Company Names and Capital Structure 
  

											
	 Company
	  	Jurisdiction of
Formation/
Organization	  	Authorized
Shares	  	 Issued
 Shares/Units
	  	 Equity Owner
	  	 Binding Agreements on

Holders

	
	 HRI Group

	Headwaters Resources, Inc.	  	Utah	  	100	  	100 Shares	  	Headwaters Incorporated	  	 Articles of Incorporation of ISG Resources, Inc. dated July 31, 1998;
 Bylaws of ISG Resources, Inc. adopted September 30, 1998.

						
	Headwaters Services Corporation	  	Utah	  	100	  	100 Shares	  	Headwaters Resources, Inc.	  	 Articles of Incorporation of ISG Capital Corporation dated October 29, 1998;
 Bylaws of ISG Capital Corporation adopted November 1, 1998.

						
	Headwaters Resources Limited	  	New
Brunswick	  	Unlimited	  	65 Shares	  	 Headwaters Resources,

Inc.
	  	 Articles of Incorporation of ISG Canada Limited dated January 19. 2000;
 By-Law Number 1 of ISG Canada Limited dated January 19, 2000.

  
 Schedule
9.1.4- 1 

											
	 Company
	  	Jurisdiction of
Formation/
Organization	  	Authorized
Shares	  	 Issued
 Shares/Units
	  	 Equity Owner
	  	
Binding Agreements on
Holders

	
	 SCP Group

	Headwaters Construction Materials, Inc.	  	Utah	  	100	  	100 Shares	  	Headwaters Incorporated	  	 Articles of Incorporation of American Construction Materials, Inc. dated July 31, 2003;

Amendment No. 1 to the Articles of Incorporation of American Construction Materials, Inc. dated September 9, 2004;
 Bylaws of American Construction Materials, Inc. adopted July 31, 2003.

						
	Headwaters Construction Materials, LLC	  	Texas	  		  	100 Units	  	Headwaters Construction Materials, Inc.	  	 Articles of Organization of HCM Block & Brick, LLC dated September 30, 2006;
 Certificate of First Amendment to Articles of Organization of HCM Block & Brick, LLC dated October 19, 2006;
 Company Agreement of Headwaters Construction Materials, LLC dated October 2, 2006.

						
	HCM Utah, LLC	  	Utah	  		  	100 Units	  	Headwaters Construction Materials, Inc.	  	 Articles of Organization of HCM Utah, LLC dated September 29, 2008;
 Operating Agreement of HCM Utah, LLC dated September 29, 2008.

  
 Schedule
9.1.4- 2 

											
	 Company
	  	Jurisdiction of
Formation/
Organization	  	Authorized
Shares	  	 Issued
 Shares/Units
	  	 Equity Owner
	  	 Binding Agreements on

Holders

	
	 Eldorado Group

	HCM Stone, LLC	  	Utah	  		  	100 Units	  	Headwaters Construction Materials, Inc.	  	 Articles of Organization of Eldorado Acquisition, LLC dated May 3, 2004;
 Certificate of Amendment of Articles of Organization of Eldorado Acquisition, LLC
dated August 17,2004;

First Amended and Restated Operating Agreement of HCM Stone, LLC dated October 15, 2004.

						
	Dutch Quality Stone, Inc.	  	Ohio	  	750	  	500 Shares	  	HCM Stone, LLC	  	 Articles of Incorporation of Dutch Quality Stone, Inc. dated March 15, 1996;
 Regulations of Dutch Quality Stone, Inc.

						
	Eldorado G-Acquisition Co.	  	Utah	  	100	  	100 Shares	  	HCM Stone, LLC	  	 Articles of Incorporation of Eldorado G-Acquisition Co. dated May 3, 2004;
 Bylaws of Eldorado G-Acquisition Co. adopted May 3, 2004.

						
	Eldorado SC-Acquisition Co.	  	Utah	  	100	  	100 Shares	  	HCM Stone, LLC	  	 Articles of Incorporation of Eldorado SC-Acquisition Co. dated May 3, 2004;
 Bylaws of Eldorado SC-Acquisition Co. adopted May 3, 2004.

  
 Schedule
9.1.4- 3 

											
	 Company
	  	Jurisdiction of
Formation/
Organization	  	Authorized
Shares	  	 Issued
 Shares/Units
	  	 Equity Owner
	  	
Binding Agreements on
Holders

	Eldorado Stone Acquisition Co., LLC	  	Utah	  		  	 96 Units
  
 4 Units
	  	 Eldorado SC-Acquisition Co.
  

Eldorado Stone G-Acquisition Co.
	  	 Articles of Organization of Eldorado Stone Acquisition Co., LLC dated March 30, 2005;

Second Amended and Restated Operating Agreement of Eldorado Stone Acquisition Co., LLC dated March 31, 2005 .

						
	Eldorado Stone Funding Co., LLC	  	Utah	  		  	 50 Units
  
 50 Units
	  	 Eldorado SC-Acquisition Co.
  

Eldorado Stone G-Acquisition Co.
	  	 Articles of Organization of Eldorado Stone Funding Co., LLC dated May 25, 2004;
 Operating Agreement of Eldorado Stone Funding Co., LLC dated May 25, 2004.

						
	Eldorado Stone LLC	  	Delaware	  		  	 63.3 Units
  
 36.7 Units
	  	 Eldorado SC-Acquisition Co.
  

Eldorado Stone Acquisition Co., LLC
	  	 Certificate of Formation of Eldorado Stone LLC dated May 22, 2000;
 First Amendment to the Amended and Restated Limited Liability Company Operating Agreement of Eldorado Stone LLC dated February 20, 2001;
 Amended and Restated Limited Liability Company Operating Agreement of Eldorado Stone LLC effective June 1, 2004.

						
	Eldorado Stone Philippines	  	Philippines	  	128,000	  	127,995 Shares	  	Eldorado Stone LLC	  	 Certificate of Incorporation of Eldorado Stone Philippines, Inc. dated April 2 1,2006;

By-laws of Eldorado Stone Philippines, Inc. dated April 17, 2006.

  
 Schedule
9.1.4- 4 

											
	 Company
	  	Jurisdiction of
Formation/
Organization	  	Authorized
Shares	  	 Issued
 Shares/Units
	  	 Equity Owner
	  	 Binding Agreements on

Holders

	Chihuahua Stone, LLC	  	Utah	  		  	100 Units	  	Eldorado Stone LLC	  	 Articles of Organization of Chihuahua Stone, LLC dated October 15, 2004;
 Limited Liability Company Agreement of Chihuahua Stone LLC dated July 10, 2003 First Amendment to the Limited Liability Company Agreement of Chihuahua Stone LLC dated August 25, 2004,

						
	Piedras Headwaters, S. De R.L. De C.V.	  	Mexico	  		  	 99 Units
 l
Unit
	  	 Chihuahua Stone, LLC
 Eldorado
Stone LLC
	  	Company Constitution of Piedras Headwaters dated March 11,2005.
						
	Eldorado Stone Operations, LLC	  	Utah	  		  	1000 Units	  	Eldorado Stone LLC	  	 Articles of Organization of Eldorado Stone Operations, LLC dated October 15, 2004;

Limited Liability Company Agreement of Eldorado Stone Operations LLC dated June 30, 2000;
 First Amendment to the Limited Liability Company Agreement of Eldorado Stone Operations LLC dated August 25 , 2004.

  
 Schedule
9.1.4- 5 

											
	 Company
	  	Jurisdiction of
Formation/
Organization	  	Authorized
Shares	  	 Issued
 Shares/Units
	  	 Equity Owner
	  	 Binding Agreements
on Holders

	L-B Stone, LLC	  	Utah	  		  	100 Units	  	Eldorado Stone LLC	  	 Articles of Organization of L-B Stone, LLC dated October 15, 2004; Limited Liability Company Agreement of L-B Stone LLC dated November
7, 2002;
 First Amendment to the Limited Liability Company Agreement of L-B Stone LLC effective August 25, 2004.

						
	Stonecraft Manufacturing, LLC	  	Ohio	  	100	  	100 Units	  	Eldorado Stone LLC	  	Articles of Organization of Stonecraft Manufacturing, LLC dated December 8, 2008; Operating Agreement of Stonecraft Manufacturing, LLC dated December 8, 2008.
	
	 Tapco Group

	Tapco International Corporation	  	Michigan	  	1,500	  	1000 Shares	  	Headwaters Incorporated	  	 Articles of Incorporation of Tapco International Corporation dated June 17, 1999;

Certificate of Amendment to Articles of Incorporation dated June 23, 1999;
 Bylaws of Tapco International Corporation adopted June 23, 1999.

  
 Schedule
9.1.4- 6 

											
	 Company
	  	Jurisdiction of
Formation/
Organization	  	Authorized
Shares	  	 Issued
 Shares/Units
	  	 Equity Owner
	  	 Binding Agreements
on Holders

	Atlantic Shutter Systems, Inc.	  	South
Carolina	  	100,000	  	1000 Shares	  	Tapco International Corporation	  	Articles of Incorporation of Mid Am Shutter Company dated Octobers, 2001; Articles of Amendment to Articles of Incorporation of Mid Am Shutter Company dated January 25, 2002; Bylaws
of Atlantic Shutter Systems, Inc.
						
	Inspire Services, LLC	  	Michigan	  		  	100 Units	  	Tapco International Corporation	  	Articles of Organization of Inspire Services, LLC dated September 23, 2008; Operating Agreement of Inspire Services, LLC effective October 1,2008.

  
 Schedule
9.1.4- 7 

											
	 Company
	  	Jurisdiction of
Formation/
Organization	  	Authorized
Shares	  	 Issued
 Shares/Units
	  	 Equity Owner
	  	 Binding Agreements
on Holders

	Metamora Products Corporation	  	Michigan	  	550,000	  	147,507 Shares	  	Tapco International Corporation	  	 Articles of Incorporation of Metamora Products Corporation dated December 5, 1966;

Amended Articles of Incorporation of Metamora Products Corporation dated January 7, 1967;
 Certificate of Amendment to Articles of Incorporation of Metamora Products Corporation dated September 11, 1976;
 Certificate of Amendment to Articles of Incorporation of Metamora Products Corporation dated April 18, 1986;
 Restated Bylaws of Metamora Products Corporation.

						
	Metamora Products Corporation of Elkland	  	Pennsylvania	  	400,000	  	400,000 Shares	  	Metamora Products Corporation	  	 Articles of Incorporation of Metamora Products Corporation of Elkland dated December 19, 1973;

Articles of Amendment to Articles of Incorporation of Metamora Products Corporation of Elkland dated January 10, 1983;

Restated Bylaws of Metamora Products Corporation of Elkland.

  
 Schedule
9.1.4- 8 

											
	 Company
	  	Jurisdiction of
Formation/
Organization	  	Authorized
Shares	  	 Issued
 Shares/Units
	  	 Equity Owner
	  	 Binding Agreements
on Holders

	MTP, Inc.	  	Ohio	  	750	  	45 Shares	  	Tapco International Corporation	  	 Articles of Incorporation of MTP, Inc. dated January 19, 1983;
 Code of Regulations of MTP, Inc.

						
	Stonecraft Sales, LLC	  	Michigan	  	100	  	100 Units	  	Tapco International Corporation	  	Articles of Organization of Stonecraft Sales, LLC dated December 8, 2008; Operating Agreement of Stonecraft Sales, LLC effective December 8, 2008.
						
	Tapco Europe Limited	  	United
Kingdom	  		  	501,000 Shares	  	Tapco International Corporation	  	

  
 Schedule
9.1.4- 9 

 II. Acquisitions of Substantial Assets 

 

					
	 Company Acquiring Assets:
	  	 Acquisition Date:
	  	 Description of Assets:

	Tapco International Corporation	  	Jul 10, 2006	  	 Wellcraft, Inc. purchase:
 •    Fixed Assets & Tooling

•    Accounts Receivable

•    Egress Inventory

•    Anchor Plate Inventory

•    Patents, Websites, Domain Names & Trademarks

•    Customer & Supplier Lists

			
	Tapco International Corporation	  	Aug 6, 2008	  	 Dinesol Building Products, Ltd. purchase:

•    Fixed Assets, Fabrication Equipment, Tooling & Molds

•    Intellectual Property

•    Inventory

•    Advertising & Promotional Material

•    Customer & Supplier Lists

•    Right to Use Name

			
	Headwaters Construction Materials, LLC	  	Dec 14, 2007	  	 Oldcastle APG Texas, Inc. purchase:
 •    Eagle Lake Concrete Block & Brick Production Facility
 •    Cordell Concrete Block & Brick Production Facility
 •    Equipment & inventory at the Facilities
 •    Contracts Relating to the Facilities

Schedule 9.1.4- 10 

  

 III. Merger / Name Change History 

 

							
	 Name of Current Entity
	  	 Date of Event
	  	 Nature of Event
	  	 Description

	
	 HRI Group

	Headwaters Resources, Inc.	  	31 Dec 2008	  	Internal Merger	  	“VFL Technology Corporation” merged into HRI
				
	Headwaters Services Corporation	  	28 Feb 2005	  	Name Change	  	Old name: “ISG Services Corporation”
	
	 SCP Group

	Headwaters Construction Materials, Inc.	  	29 Sept 2006	  	Internal Mergers	  	 “HCM Block & Brick Partner, LLC”
 “HCM Block & Brick, LLC”
 “HCM Mortar & Stucco Partner, LLC”

“HCM Mortar & Stucco Holding, LLC”

“HCM Block & Brick General, Inc.”

“HCM Mortar & Stucco, Inc.”
 . . .
merged into HCM

				
	HCM Utah, LLC	  	30 Sept 2008	  	Internal Mergers	  	 “Best Masonry & Tool Supply LLC”
 “Don’s Building Supply, LLC”
 . . . merged into HCM Utah

				
		  	30 Sept 2008	  	Conversion & Name Change	  	Converted from “HCM Utah, Inc.”
				
		  	28 Aug 2008	  	Internal Merger	  	“HCM FlexCrete, LLC” merged into HCM, LLC
				
	 Headwaters Construction
 Materials, LLC
	  	2 Oct 2006	  	Name Change	  	Old name: “HCM Block & Brick, LLC”
	  	  
 28 Sept 2006
	  	  

Conversion & Name Change
	  	  
 Converted from “HCM Block & Brick,
LP”

				
		  	28 Sept 2006	  	Internal Merger	  	“Palestine Concrete Tile Company, LP” merged into HCM B&B, LP

Schedule 9.1.4- 11 

  

							
	 Name of Current Entity
	  	 Date of Event
	  	 Nature of Event
	  	 Description

	
	 Eldorado Group

	 Eldorado Stone LLC
	  	2 Oct 2006	  	Internal Mergers	  	 “Tempe Stone, LLC”

“Northwest Stone & Brick LLC”

“Syndecrete, LLC”
 “Stonecraft
Industries, LLC”
 “L&S Stone, LLC”
 “Eagle Stone & Brick LLC”
 . . . merged into Eldorado Stone

				
	 Eldorado SC-Acquisition Co.
	  	31 Mar 2005	  	Internal Mergers	  	 “Eldorado Stone Corporation”
 “Northwest Stone & Brick Co., Inc.”
 . . . merged into Eldorado
SC-Acq.

				
	 Eldorado Stone Acquisition Co. LLC
	  	31 Mar 2005	  	Re-domiciled	  	Moved from Delaware to Utah
	
	 Tapco Group

	 Tapco International Corporation
	  	3 Oct 2006	  	Internal Mergers	  	 “Comaco, Inc.”

“Wamco Corporation”
 “Builders
Edge, Inc.”
 “Tapco Holdings, Inc.”
 “Vantage Building Products Corporation”
 . . . merged into Tapco
International

 Schedule 9.1.4- 12 

  

 Schedule 9.1.11 

Registered Patents, Registered Trademarks, Registered Copyrights and Licenses 

Registered Patents 
  

	
	 SCP Group

	NONE.
	
	 Eldorado Group

	NONE.

  

											
	 HRI Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	ARTIFICIAL REEFS MANUFACTURED FROM COAL COMBUSTION BY-PRODUCTS	  	US	  	07/873,650	  	23-Apr-92	  	5199377	  	6-Apr-93
						
	ASPHALTIC ROOFING MATERIAL AND METHOD WITH FLY ASH FILLER	  	CA	  	2068362.7	  	11-May-92	  	2068362	  	31-May-94
						
	METHOD AND APPARATUS FOR REDUCING CARBON CONTENT IN PARTICULATE MIXTURES	  	US	  	08/012,999	  	3-Feb-93	  	5299692	  	5-Apr-94
						
	ASPHALTIC ROOFING MATERIAL WITH CLASS F FLY ASH FILLER	  	US	  	08/051,162	  	22-Apr-93	  	5391417	  	21-Feb-95
						
	METHOD AND APPARATUS FOR CONTINOUSLY PROCESSING PARTICULATE CEMENTITIOUS MATERIAL AND FLY ASH SOLIDS AND MIXING THEM WITH A LIQUID TO PROVIDE A LIQUID SLURRY OF CONSISTENT
PROPORTIONS	  	US	  	08/166,723	  	13-Dec-93	  	5433520	  	18-Jul-95
						
	METHOD AND APPARATUS FOR REDUCING CARBON CONTENT IN FLY ASH	  	US	  	08/222,102	  	4-Apr-94	  	5513755	  	7-May-96

 Schedule 9.1.11- 1 

											
	 HRI Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	METHOD OF MAKING ASPHALTIC ROOFING MATERIAL CONTAINING CLASS F FLY ASH FILLER	  	US	  	08/334,244	  	4-Nov-94	  	5565239	  	15-Oct-96
						
	ULTRASONIC CONDITIONING AND WET SCRUBBING OF FLY ASH	  	US	  	09/040,515	  	17-Mar-98	  	5840179	  	24-Nov-98
						
	ULTRASONIC CONDITIONING AND WET SCRUBBING OF FLY ASH	  	US	  	09/135,683	  	18-Aug-98	  	5988396	  	23-Nov-99
						
	MASONRY, MORTAR, AND STUCCO CEMENT COMPOSITIONS	  	CA	  	2385606	  	21-Sep-00	  		  	
						
	CONTROL OF AMMONIA EMISSION FROM AMMONIA LADEN FLY ASH IN CONCRETE	  	EU	  	1916439.1	  	7-Mar-01	  	1296907	  	7-Mar-01
						
	CONTROL OF AMMONIA EMISSION FROM AMMONIA LADEN FLY ASH IN CONCRETE	  	UK	  	1916439.1	  	7-Mar-01	  		  	
						
	CONTROL OF AMMONIA EMISSION FROM AMMONIA LADEN FLY ASH IN CONCRETE	  	France	  	1916439.1	  	7-Mar-01	  		  	
						
	CONTROL OF AMMONIA EMISSION FROM AMMONIA LADEN FLY ASH IN CONCRETE	  	Germany	  	1916439.1	  	7-Mar-01	  		  	
						
	Fiber reinforced aerated concrete and methods of making same	  	US	  	09/871,089	  	31-May-01	  	6773500	  	10-Aug-04
						
	MASONRY, MORTAR, AND STUCCO CEMENT COMPOSITIONS	  	US	  	10/088,291	  	29-Jul-02	  	7101430	  	5-Sep-06
						
	METHOD FOR ACCELERATING SETTING OF CEMENT AND THE COMPOSITIONS PRODUCED THEREFROM	  	US	  	10/228,008	  	26-Aug-02	  	6827776	  	7-Dec-04
						
	METHOD OF DELAYING THE SET TIME OF CEMENT AND THE COMPOSITIONS PRODUCED THEREFROM	  	US	  	10/228,009	  	26-Aug-02	  	6740155	  	25-May-04
						
	CONTROL OF AMMONIA EMISSION FROM AMMONIA LADEN FLY ASH IN CONCRETE	  	US	  	10/130,333	  	23-Sep-02	  	6790264	  	14-Sep-04
						
	METHOD AND SYSTEM FOR REDUCING AMMONIA SLIP AFTER SELECT REDUCTION OF NOX	  	CA	  	2578048	  	6-Sep-05	  		  	
						
	METHOD AND SYSTEM FOR REDUCING AMMONIA SLIP AFTER SELECT REDUCTION OF NOX	  	China	  	580032331	  	6-Sep-05	  		  	
						
	METHOD AND SYSTEM FOR REDUCING AMMONIA SLIP AFTER SELECT REDUCTION OF NOX	  	EU	  	5796075.9	  	6-Sep-05	  		  	
						
	METHOD AND DEVICE FOR PRE-TREATING FLY ASH	  	CA	  	2,577,970	  	7-Sep-05	  	2577970	  	11-Jun-07

 Schedule 9.1.11- 2 

											
	 HRI Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	METHOD AND SYSTEM FOR PRE-TREATING FLY ASH	  	CHINA	  	580030130	  	7-Sep-05	  		  	
						
	METHOD AND SYSTEM FOR PRE-TREATING FLY ASH	  	EU	  	5795168.3	  	7-Sep-05	  		  	
						
	METHOD AND SYSTEM FOR PRE-TREATING FLY ASH	  	US	  	11/662034	  	7-Sep-05	  		  	
						
	METHOD AND SYSTEM FOR PRE-TREATING FLY ASH	  	PCT	  	PCT/US05/318 20	  	7-Sep-05	  		  	
						
	METHOD AND SYSTEM FOR PRE-TREATING FLY ASH	  	MX	  	2007/002529	  	1-Mar-07	  		  	
						
	METHOD AND SYSTEM FOR REDUCING AMMONIA SLIP AFTER SELECT REDUCTION OF NOX	  	US	  	11/662,035	  	6-Sep-05	  		  	
						
	METHOD AND SYSTEM FOR REDUCING AMMONIA SLIP AFTER SELECT REDUCTION OF NOX	  	Japan	  	2007-531360	  	8-Mar-07	  		  	
						
	METHOD AND SYSTEM FOR PRE-TREATING FLY ASH	  	Japan	  	2001-509338	  	8-May-07	  		  	
	
	 Tapco Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	ROOF VENT	  	US	  	07/293946	  	05-Jan-1989	  	4924761	  	15-May-1990
						
	WALL MOUNTING ASSEMBLY	  	US	  	07/347830	  	05-May-1989	  	4920708	  	01-May-1990
						
	WALL MOUNTING ASSEMBLY	  	CA	  	2011685	  	07-Mar-1990	  	2011685	  	21-Dec-1993
						
	RIDGE ROOF VENT	  	US	  	07/598246	  	16-Oct-1990	  	5060431	  	29-Oct-1991
						
	RIDGE VENT FOR HIP ROOF	  	US	  	07/786558	  	01-Jan-1991	  	5174076	  	29-Dec-1992
						
	LOUVERED PLASTIC BUILDING PRODUCT	  	CA	  	2051884	  	19-Sep-1991	  	2051884	  	08-Aug-1995
						
	PLASTIC BUILDING WALL MOUNT ASSEMBLY	  	US	  	07/904384	  	25-Jun-1992	  	5326060	  	05-Jul-1994
						
	HEAVY DUTY SHEET BENDING BRAKE	  	US	  	07/987249	  	07-Dec-1992	  	5343728	  	06-Sep-1994

 Schedule 9.1.11- 3

											
	 Tapco Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	CORNER TRIM PIECE	  	MX	  	9301570	  	19-Mar-1993	  	182645	  	13-Sep-1996
						
	PLASTIC BUILDING WALL MOUNT ASSEMBLY	  	CA	  	2099044	  	23-Jun-1993	  	2099044	  	08-Apr-2003
						
	PORTABLE SHEET BENDING BRAKE	  	US	  	08/111978	  	25-Aug-1993	  	5353620	  	11-Oct-1994
						
	PLASTIC GABLE VENT	  	US	  	08/111986	  	25-Aug-1993	  	5349799	  	27-Sep-1994
						
	PORTABLE SAW TABLE	  	US	  	07/119888	  	10-Sep-1993	  	5421231	  	06-Jun-1995
						
	PLASTIC WINDOW ASSEMBLY	  	US	  	08/142241	  	26-Oct-1993	  	5471803	  	05-Dec-1995
						
	COMBINATION SKYLIGHT / STATIC VENTILATOR	  	US	  	08/225554	  	11-Apr-94	  	5561952	  	8-Oct-96
						
	PLASTIC WINDOW ASSEMBLY	  	US	  	08/229544	  	19-Apr-1994	  	5491936	  	20-Feb-1996
						
	SHEET BENDING BRAKE	  	US	  	08/254177	  	06-Jun-1994	  	5505069	  	09-Apr-1996
						
	PLASTIC FOUNDATION VENT	  	US	  	08/262237	  	20-Jun-1994	  	5487701	  	30-Jan-1996
						
	HEAVY DUTY SHEET BENDING BRAKE	  	US	  	08/268808	  	30-Jun-1994	  	5582055	  	10-Dec-1996
						
	PLASTIC BUILDING PRODUCT	  	US	  	08/277734	  	20-Jul-1994	  	5596852	  	28-Jan-1997
						
	PLASTIC ROOF VENT AND METHOD OF MAKING	  	US	  	08/280848	  	26-Jul-1994	  	5535558	  	16-Jul-1996
						
	PORTABLE SHEET METAL WORK-ROLL APPARATUS	  	US	  	08/310431	  	22-Sep-94	  	5644940	  	8-Jul-97
						
	DENTIL MOLDING APPARATUS AND METHOD FOR SECURING A MOLDING INSERT AND MEMBER	  	US	  	08/351796	  	08-Dec-94	  	5579617	  	3-Dec-96
						
	COMBINED PORTABLE SHEET BENDING BRAKE AND CUTTER	  	US	  	08/373080	  	17-Jan-1995	  	5582053	  	10-Dec-1996
						
	SHUTTER ASSEMBLY AND METHOD OF ASSEMBLING SAME	  	US	  	08/465741	  	06-Jun-1995	  	5634998	  	03-Jun-1997
						
	MODULAR SHUTTER ASSEMBLY INCLUDING A DIE CUT PANEL	  	US	  	08/468192	  	06-Jun-1995	  	5704182	  	06-Jan-1998
						
	PORTABLE SAW TABLE	  	US	  	08/484977	  	07-Jun-1995	  	5651298	  	29-Jul-1997
						
	SUPPORT RAIL END CAP FOR A COMPONENT SHUTTER	  	US	  	08/488043	  	07-Jun-1995	  	5622018	  	22-Apr-1997

 Schedule 9.1.11- 4

											
	 Tapco Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	COMPONENT GABLE VENT APPARATUS AND METHOD OF ASSEMBLING SAME	  	US	  	08/494446	  	26-Jun-1995	  	5673526	  	07-Oct-1997
						
	ROOF VENT	  	US	  	08/373532	  	17-Jul-1995	  	5458538	  	17-Oct-1995
						
	MODULAR SOFFIT VENT	  	US	  	08/554889	  	09-Nov-1995	  	5791985	  	11-Aug-1998
						
	COMBINED PORTABLE SHEET BENDING BRAKE, COIL HOLDER AND CUT-OFF MECHANISM	  	US	  	08/611936	  	06-Mar-1996	  	5706692	  	13-Jan-1998
						
	DENTIL MOLDING APPARATUS AND METHOD FOR SECURING A MOLDING INSERT AND MEMBER	  	CA	  	2171598	  	12-Mar-96	  	2171598	  	13-Sep-05
						
	SHEET BENDING BRAKE	  	CA	  	2171598	  	12-Mar-1996	  	2171598	  	13-Sep-2005
						
	COMPONENT GABLE VENT APPARATUS AND METHOD OF ASSEMBLING SAME	  	CA	  	2172338	  	21-Mar-1996	  	2172338	  	5-Aug-08
						
	MODULAR SHUTTER ASSEMBLY INCLUDING A DIE CUT PANEL	  	CA	  	2172339	  	21-Mar-1996	  	2172339	  	28-Nov-2006
						
	LINEAL SHUTTER	  	CA	  	2206903	  	21-May-1996	  	2206903	  	17-Oct-2006
						
	MODULAR SOFFIT VENT	  	CA	  	2178435	  	06-Jun-1996	  	2178435	  	26-Apr-2005
						
	PLASTIC BUILDING WALL MOUNT ASSEMBLY	  	US	  	08/675472	  	03-Jul-1996	  	RE38881	  	22-Nov-2005
						
	COMPONENT SHUTTER PANEL ASSEMBLY	  	US	  	08/697817	  	30-Aug-1996	  	5761865	  	09-Jun-1998
						
	COMBINED SHEET BENDING BRAKE AND CUTTER	  	US	  	08/714215	  	16-Sep-1996	  	5706693	  	13 -Jan-1998
						
	GABLE VENT	  	US	  	08/724531	  	30-Sep-1996	  	5729935	  	24-Mar-1998
						
	DENTIL MOLDING APPARATUS AND METHOD FOR SECURING A MOLDING INSERT AND MEMBER	  	US	  	08/729023	  	10-Oct-1996	  	5850717	  	22-Dec-1998
						
	HEAVY DUTY SHEET BENDING BRAKE	  	US	  	08/756608	  	26-Nov-1996	  	5743129	  	28-Apr-1998
						
	AUTOMATIC INDEXER FOR A SHEET BENDING BRAKE	  	US	  	08/791192	  	31-Jan-1997	  	5761939	  	09-Jun-1998

 Schedule 9.1.11- 5

											
	 Tapco Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	ADJUSTABLE LEG SUPPORT ASSEMBLY	  	US	  	08/840225	  	11-Apr-1997	  	6070696	  	06-Jun-2000
						
	ORNAMENTAL SHUTTER	  	US	  	08/858232	  	19-May-1997	  	5782052	  	21-Jul-1998
						
	EXTERIOR MOUNTING PLATE ASSEMBLY	  	US	  	08/858835	  	19-May-1997	  	5775032	  	07-Jul-1998
						
	PORTABLE SAW TABLE	  	US	  	08/926855	  	10-Sep-1997	  	5868054	  	09-Feb-1999
						
	SPLIT-BLOCK RECESS MOUNT APPARATUS	  	US	  	08/949278	  	13-Oct-1997	  	5918431	  	06-Jul-1999
						
	DOOR SURROUND APPARATUS AND METHOD OF ASSEMBLY	  	US	  	08/969257	  	13-Nov-1997	  	6112481	  	05-Sep-2000
						
	MODULAR SHUTTER ASSEMBLY INCLUDING A DIE CUT PANEL	  	US	  	09/002756	  	05-Jan-1998	  	6023905	  	15-Feb-2000
						
	COIL HOLDER FOR A SHEET BENDING BRAKE	  	US	  	09/005275	  	09-Jan-1998	  	5992203	  	30-Nov-1999
						
	COMPONENT SHUTTER PANEL ASSEMBLY	  	US	  	09/023145	  	12-Feb-1998	  	5946873	  	07-Sep-1999
						
	HEAVY DUTY SHEET BENDING BRAKE	  	US	  	09/067131	  	27-Apr-1998	  	6085569	  	11-Jul-2000
						
	MODULAR SOFFIT VENT	  	US	  	09/132272	  	11-Aug-1998	  	5947816	  	07-Sep-1999
						
	SCORING TOOL	  	US	  	09/132583	  	11-Aug-1998	  	6408527	  	25-Jun-2002
						
	DOOR AND WINDOW SUROUND	  	US	  	09/163590	  	20-Sep-98	  	6276101	  	21-Aug-01
						
	DENTIL MOLDING APPARATUS AND METHOD FOR SECURING A MOLDING INSERT AND MEMBER	  	US	  	09/207092	  	07-Dec-1998	  	6421964	  	23-Jul-2002
						
	VENT APPARATUS	  	US	  	09/288842	  	08-Apr-1999	  	6196915	  	06-Mar-2001
						
	CUSTOM LENGTH SHUTTER ASSEMBLY	  	US	  	09/295123	  	20-Apr-1999	  	6122875	  	26-Sep-2000
						
	ELECTRICAL BLOCK	  	US	  	09/342572	  	29-Jun-1999	  	6310287	  	30-Oct-2001

 Schedule 9.1.11- 6 

											
	 Tapco Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	SUNBURST TRIM ASSEMBLY	  	US	  	29/107382	  	0l-Jul-1999	  	D424210	  	02-May-2000
						
	DECORATIVE TRIM ASSEMBLY	  	US	  	09/362774	  	28-Jul-1999	  	6212835	  	10-Apr-2001
						
	MODULAR SHUTTER ASSEMBLY INCLUDING A DIE CUT PANEL	  	US	  	09/455137	  	06-Dec-1999	  	6141938	  	07-Nov-2000
						
	HEAVY DUTY SHEET BENDING BRAKE	  	US	  	09/498281	  	04-Feb-2000	  	6389864	  	21-May-2002
						
	VENTILATION ASSEMBLY	  	US	  	09/583799	  	31-May-2000	  	6325712	  	04-Dec-2001
						
	VENT APPARATUS	  	US	  	09/648856	  	25-Aug-2000	  	6386972	  	14-May-2002
						
	PLASTIC BATTEN SHUTTER	  	US	  	09/696488	  	25-Oct-2000	  	6374560	  	23-Apr-2002
						
	MODULAR SHUTTER ASSEMBLY INCLUDING A DIE CUT PANEL	  	US	  	09/706011	  	03-Nov-2000	  	6397540	  	04-Jun-2002
						
	DECORATIVE MOLDING	  	US	  	09/723900	  	28-Nov-2000	  	6463707	  	15-Oct-2002
						
	PLASTIC WINDOW ASSEMBLY	  	US	  	09/724093	  	28-Nov-2000	  	6604333	  	12-Aug-2003
						
	VENT APPARATUS	  	US	  	09/799966	  	06-Mar-2001	  	6383072	  	07-May-2002
						
	DECORATIVE TRIM ASSEMBLES	  	US	  	09/800286	  	06-Mar-2001	  	6385927	  	14-May-2002
						
	ELECTRICAL BLOCK	  	US	  	09/819494	  	28-Mar-2001	  	6429371	  	06-Aug-2002
						
	PLASTIC BATTEN SHUTTER	  	CA	  	2351948	  	28-Jun-2001	  	2351948	  	16-Oct-2007
						
	VENTILATION ASSEMBLY	  	US	  	09/953652	  	17-Sep-2001	  	6579171	  	17-Jun-2003
						
	OPEN BACK BRAKE	  	US	  	10/003025	  	02-Nov-2001	  	6571594	  	03-Jun-2003
						
	FOLDING TABLE SAW	  	US	  	10/022984	  	17-Dec-2001	  	6705192	  	16-Mar-2004

 Schedule 9.1.11- 7

											
	 Tapco Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	DECORATIVE MOLDING	  	US	  	10/033783	  	27-Dec-2001	  	6725614	  	27-Apr-2004
						
	CORNER BRICK BLOCK	  	US	  	10/066817	  	04-Feb-2002	  	6631600	  	14-Oct-2003
						
	SHEET BENDING BRAKE	  	US	  	10/068408	  	06-Feb-2002	  	6675619	  	13-Jan-2004
						
	IMPACT-RESISTANT SHUTTER ASSEMBLY	  	US	  	10/264476	  	04-Oct-2002	  	7174683	  	13-Feb-2007
						
	LOCKING ASSEMBLY FOR SHUTTERS	  	US	  	10/264477	  	04-Oct-2002	  	7062884	  	20-Jun-2006
						
	DEVICE FOR PRECISION CUTS ON ALUMINUM AND VINYL SIDING AND OTHER CONSTRUCTION MATERIALS	  	US	  	10/339110	  	09-Jan-2003	  	6990882	  	31-Jan-2006
						
	PLASTIC WINDOW ASSEMBLY	  	US	  	10/368677	  	18-Feb-2003	  	7024830	  	ll-Apr-2006
						
	OPEN BACK BRAKE	  	US	  	10/404771	  	01-Apr-2003	  	6802198	  	12-0ct-2004
						
	SINGLE PIECE MOUNTING FRAME	  	US	  	10/435258	  	09-May-03	  	7510153	  	31-Mar-09
						
	PORTABLE TABLE SAW ASSEMBLY	  	US	  	10/448679	  	30-May-2003	  	7555976	  	7-Jul-09
						
	PLASTIC BATTEN SHUTTER	  	US	  	10/456439	  	06-Jun-2003	  	6968656	  	29-Nov-2005
						
	CONTINUOUS PRODUCTION OF PLASTIC SIDING PANELS WITH SEPARATE SHINGLE APPEARANCE	  	US	  	10/689137	  	20-Oct-2003	  	7008213	  	07-Mar-2006
						
	TABLE WITH ROTATABLE SUPPORTS	  	US	  	10/715811	  	18-Nov-2003	  	6854495	  	15-Feb-2005
						
	DEVICE HAVING PIVOTABLE WHEEL MECHANISM	  	US	  	10/716105	  	18-Nov-2003	  	6901783	  	07-Jun-2005
						
	WINDOW WELL	  	US	  	10/725219	  	01-Dec-2003	  	7171786	  	06-Feb-2007
						
	PIVOT LINK FOR SHEET BENDING BRAKE AND SHEET BENDING BRAKE INCLUDING PIVOT LINK	  	US	  	10/759351	  	16-Jan-2004	  	7228721	  	12-Jun-2007
						
	SAW TABLE	  	US	  	10/765551	  	26-Jan-2004	  	7047856	  	23-May-2006
						
	DECORATIVE TRIM ASSEMBLIES	  	US	  	10/766048	  	28-Jan-2004	  	7228663	  	12-Jun-2007

 Schedule 9.1.11- 8

											
	 Tapco Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	LOUVERED SHUTTER	  	US	  	10/779076	  	13-Feb-2004	  		  	
						
	SHAKE SIDING PANEL	  	US	  	29/207175	  	09-Jun-2004	  	D506839	  	28-Jun-2005
						
	SHAKE SIDING PANEL	  	US	  	29/207176	  	09-Jun-2004	  	D507666	  	19-Jul-2005
						
	SHAKE SIDING PANEL	  	US	  	29/207253	  	10-Jun-2004	  	D507837	  	26-Jul-2005
						
	MEASURING DEVICE FOR MEASURING A SHEET OF MATERIAL IN A SHEET BENDING BRAKE	  	US	  	10/870886	  	17-Jun-2004	  	7043950	  	16-May-2006
						
	ADJUSTABLE HOUSING ASSEMBLY	  	US	  	10/932664	  	02-Sep-2004	  	7549258	  	23-Jun-09
						
	SAW TABLE AND CLAMPING MECHANISM THEREFOR	  	US	  	10/961869	  	08-Oct-2004	  	7373865	  	20-May-08
						
	SHEET METAL BENDING BRAKE WITH IMPROVED HINGE	  	US	  	10/984124	  	09-Nov-04	  	7191631	  	20-Mar-07
						
	SPLIT-BLOCK RECESS MOUNT APPARATUS	  	PCT	  	04/038184	  	15-Nov-2004	  		  	
						
	SHEET METAL BENDING BRAKE WITH IMPROVED HINGE	  	EP	  	04819137.3	  	15-Nov-2004	  		  	
						
	SHEET METAL BENDING BRAKE WITH IMPROVED HINGE	  	CA	  	2550182	  	15-Nov-2004	  		  	
						
	WINDOW WELL	  	CA	  	2547129	  	18-Nov-2004	  		  	
						
	ADJUSTABLE CUTOFF	  	US	  	10/993161	  	19-Nov-2004	  	7117705	  	10-Oct-2006
						
	FOLDING TABLE	  	US	  	11/009614	  	10-Dec-2004	  	7055563	  	06-Jun-2006
						
	PLASTIC BATTEN SHUTTER	  	US	  	11/072874	  	04-Mar-2005	  	7296383	  	20-Nov-2007
						
	STORM SHUTTER STILE	  	US	  	29/239494	  	30-Sep-2005	  	D546975	  	17-Jul-2007
						
	STORM SHUTTER RAIL	  	US	  	29/239495	  	30-Sep-2005	  	D548063	  	07-Aug-2007
						
	STORM SHUTTER TRACK	  	US	  	29/239501	  	30-Sep-2005	  	D541140	  	24-Apr-2007

 Schedule 9.1.11- 9

											
	 Tapco Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	STORM SHUTTER STILE	  	US	  	29/239504	  	30-Sep-2005	  	D541954	  	01-May-2007
						
	FUNCTIONAL SHUTTER	  	US	  	11/326111	  	05-Jan-2006	  	7392628	  	1-Jul-08
						
	WINDOW WELL	  	CA	  	2538533	  	03-Mar-2006	  		  	
						
	STORM PANEL ASSEMBLY	  	US	  	11/380010	  	25-Apr-2006	  		  	
						
	EXTERIOR SIDING MOUNTING BRACKETS WITH A WATER DIVERSION DEVICE	  	US	  	11/438165	  	22-May-06	  	7516578	  	14-Apr-09
						
	SHUTTER ASSEMBLY	  	US	  	11/428739	  	05-Jul-2006	  		  	
						
	BI-DIRECTIONAL MOUNTING BRACKET ASSEMBLY FOR EXTERIOR SIDING	  	US	  	11/459657	  	25-Jul-2006	  	7566034	  	28-Jul-09
						
	ADJUSTABLE MOUNTING BRACKET ASSEMBLY FOR EXTERIOR SIDING	  	US	  	11/467656	  	28-Aug-2006	  	7566035	  	28-Jul-09
						
	BI-DIRECTIONAL MOUNTING BRACKET ASSEMBLY FOR EXTERIOR SIDING	  	CA	  	2557916	  	29-Aug-2006	  		  	
						
	SYSTEM AND METHOD FOR MAKING DECORATIVE BUILDING PANELS HAVING A VARIEGATED APPEARANCE	  	CA	  	2563142	  	10-Oct-2006	  		  	
						
	IMPACT-RESISTANT SHUTTER ASSEMBLY	  	US	  	11/564624	  	29-Nov-2006	  	7296384	  	20-Nov-2007
						
	SYSTEM FOR PROVIDING A DECORATIVE COVERING ON A SUPPORT USING PANELS WITH INTERLOCKS	  	US	  	11/613470	  	20-Dec-2006	  		  	
						
	WALL MOUNT ASSEMBLY	  	US	  	11/614635	  	21-Dec-2006	  	7408111	  	5-Aug-08
						
	SIDING PANEL INTERLOCK	  	CA	  	2572000	  	22-Dec-06	  		  	
						
	WATER DEFLECTION APPARATUS FOR USE WITH A WALL MOUNTING BRACKET	  	CA	  	TBA	  	22-Dec-2006	  		  	
						
	MULTIDIRECTIONAL MOUNTING BRACKET ASSEMBLY FOR EXTERIOR SIDING	  	US	  	11/623916	  	17-Jan-2007	  		  	
						
	DECORATIVE TRIM ASSEMBLIES	  	US	  	11/625682	  	22-Jan-2007	  		  	
						
	WINDOW WELL ASSEMBLY	  	US	  	11/681425	  	02-Mar-07	  		  	

 Schedule 9.1.11- 10 

											
	 Tapco Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	PIVOT LINK FOR SHEET BENDING BRAKE AND SHEET BENDING BRAKE INCLUDING PIVOT LINK	  	US	  	11/738583	  	23-Apr-2007	  		  	
						
	PIVOT LINK FOR SHEET BENDING BRAKE AND SHEET BENDING BRAKE INCLUDING PIVOT LINK	  	US	  	11/738583	  	23-Apr-07	  	7484396	  	3-Feb-09
						
	POLYMER MOLDING SYSTEM AND METHOD OF OPERATION FOR PRODUCING AN ARTICLE OF MANUFACTURE	  	US	  	11/750094	  	17-May-2007	  		  	
						
	FOAM CORE CEMENT SHUTTER	  	US	  	11/767075	  	22-Jun-2007	  		  	
						
	CEMENT SHUTTER HANGING SYSTEM	  	CA	  	2596187	  	07-Aug-2007	  		  	
						
	CORNER TRIM PIECE	  	US	  	29/284162	  	31-Aug-2007	  	D574969	  	12-Aug-08
						
	CORNER TRIM PIECE	  	US	  	29/284164	  	31-Aug-2007	  	D574970	  	12-Aug-08
						
	CORNER TRIM PIECE	  	US	  	29/284166	  	31-Aug-2007	  	D574520	  	12-Aug-08
						
	SPLIT TILE FOR ATTACHMENT TO A BUILDING STRUCTURE	  	US	  	11/868206	  	05-Oct-2007	  		  	
						
	SHUTTER ASSEMBLY WITH SLIDING T-LOCK	  	US	  	11/940100	  	14-Nov-07	  		  	
						
	IMPACT-RESISTANT SHUTTER ASSEMBLY	  	CA	  	124879	  	29-Feb-08	  		  	
						
	 LOCKING ASSEMBLY FOR SHUTTERS
  

SHUTTER
	  	 CA
  
 CA
	  	 124880
  
 124881
	  	 29-Feb-08
  

29-Feb-08
	  		  	
						
	SHEET METAL BENDING BRAKE	  	US	  	12/044839	  	07-Mar-2008	  	7549311	  	23-Jun-09
						
	SHEET METAL BENDING BRAKE	  	US	  	12/051376	  	19-Mar-2008	  		  	
						
	SAW TABLE AND CLAMPING MECHANISM THEREFOR	  	US	  	12/107653	  	22-Apr-08	  		  	
						
	PANEL FOR USE IN A SIDING SYSTEM FOR PROVIDING A DECORATIVE COVERING ON A SUPPORT SURFACE	  	US	  	12/188349	  	08-Aug-08	  		  	
						
	EXTERIOR TRIM PIECES WITH WEATHER STRIPPING AND COLORED PROTECTIVE LAYER	  	US	  	12/188833	  	08-Aug-08	  		  	

 Schedule 9.1.11- 11 

											
	 Tapco Group

	 Patent Name
	  	 Country
	  	 App No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	EXTERIOR TRIM PIECES WITH WEATHER STRIPPING AND COLORED PROTECTIVE LAYER	  	CA	  	2638588	  	08-Aug-08	  		  	
						
	FLUSH MOUNTED DECORATIVE SIDING SYSTEM WITH SNAP-LOCK ENGAGEMENT	  	CA	  	2638590	  	08-Aug-08	  		  	
						
	EXTERIOR TRIM SYSTEM WITH SNAP-IN CORNER TRIM PIECE	  	CA	  	2639253	  	29-Aug-08	  		  	
						
	EXTERIOR TRIM SYSTEM WITH CORNER TRIM PIECE	  	US	  	12/201095	  	29-Aug-08	  		  	
						
	LOCKABLE SHUTTER ASSEMBLY	  	US	  	12/338730	  	18-Dec-08	  		  	
						
	LOCKING ASSEMBLY FOR SHUTTERS	  	US	  	12/339399	  	19-Dec-08	  		  	
						
	EXTERIOR SIDING MOUNTING BRACKETS WITH A WATER DIVERSION DEVICE	  	US	  	12/390154	  	20-Feb-09	  		  	
						
	STONE WORK SIMULATION SYSTEM	  	US	  	12/408168	  	20-Mar-09	  		  	
						
	STONE WORK SIMULATION SYSTEM	  	CA	  	not yet assigned	  	20-Mar-09	  		  	
						
	ADJUSTABLE HOUSING ASSEMBLY	  	US	  	12/489216	  	22-Jun-09	  		  	
						
	SHEET METAL BENDING BRAKE WITH IMPROVED HINGE	  	US	  	12/490059	  	23-Jun-09	  		  	
						
	BI-DIRECTIONAL MOUNTING BRACKET ASSEMBLY FOR EXTERIOR SIDING	  	US	  	12/510016	  	27-Jul-09	  		  	
						
	ADJUSTABLE MOUNTING BRACKET ASSEMBLY FOR EXTERIOR SIDING	  	US	  	12/510824	  	28-Jul-09	  		  	

 Schedule 9.1.11- 12 

 Registered Trademarks 

 

	
	 SCP Group

	NONE.

  

											
	 HRI Group

	 Trademark
	  	 Country
	  	 Serial No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	POZZOLANIC (Design)	  	US	  	73/221,717	  	29-Jun-79	  	1152421	  	28-Apr-81
						
	POZZALIME	  	US	  	73/499,272	  	13-Sep-84	  	1395433	  	3-Jun-86
						
	GYPCEM	  	US	  	73/533,662	  	22-Apr-85	  	1402656	  	22-Jul-86
						
	FLEXCRETE	  	US	  	73/636,328	  	22-Dec-86	  	1448523	  	21-Jul-87
						
	PEANUT MAKER	  	US	  	73/636,329	  	22-Dec-86	  	1454791	  	l-Sep-87
						
	POWERLITE	  	US	  	73/835,676	  	2-Nov-89	  	1601725	  	19-Jun-90
						
	ALSIL	  	US	  	74/182,722	  	5-Jul-91	  	1744157	  	5-Jan-93
						
	FLO FIL	  	US	  	74/479,723	  	18-Jan-94	  	1911817	  	15-Aug-95
						
	C-STONE	  	US	  	74/665,571	  	25-Apr-95	  	2004062	  	l-Oct-96
						
	ALKA-PHIX (Design)	  	US	  	75/085,326	  	8-Apr-96	  	2039031	  	18-Feb-97
						
	ENVIROPOST	  	US	  	76/489,194	  	10-Feb-03	  	2985812	  	16-Aug-05
						
	ASM	  	US	  	76/523,926	  	19-Jun-03	  	3117547	  	18-Jul-06
						
	POZZALIME	  	US	  	78/693,224	  	16-Aug-05	  	3382935	  	12-Feb-08
						
	POZZALIME	  	US	  	77/683281	  	4-Mar-09	  		  	
						
	PERFORMANCE POZZOLAN	  	US	  	77/281412	  	17-Sep-07	  		  	
						
	P2 PERFORMANCE POZZOLAN (Design)	  	US	  	77/615057	  	14-Nov-08	  		  	
						
	P2 (Design)	  	US	  	77/615052	  	14-Nov-08	  		  	

 Schedule 9.1.11- 13 

											
	 Eldorado Group

	 Trademark
	  	 Country
	  	 Serial No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	DQ STONE DUTCH QUALITY (Design)	  	US	  	78/461908	  	4-Aug-04	  	3001611	  	27-Sep-05
						
	DUTCH QUALITY STONE	  	US	  	77/188179	  	23-May-07	  	3523176	  	28-Oct-08
						
	DQ STONE DUTCH QUALITY (Design)	  	US	  	77/188186	  	23-May-07	  	3589637	  	17-Mar-09
						
	ELDORADO	  	US	  	73/259769	  	28-Apr-80	  	1182120	  	15-Dec-81
						
	HYAK WALL	  	US	  	74/496938	  	4-Mar-94	  	2035928	  	4-Feb-97
						
	ELDORADO STONE & Diamond Design	  	European Union	  	1898162	  	13-Oct-00	  	1898162	  	5-Dec-01
						
	ELDORADO STONE & Diamond Design	  	Russian Federation	  	200072617 4	  	16-Oct-00	  	216608	  	9-Jul-02
						
	ELDORADO STONE & Diamond Design	  	Korea (South)	  	2000-48379	  	16-Oct-00	  	512396	  	14-Feb-02
						
	ELDORADO STONE & Diamond Design	  	Canada	  	1080647	  	27-Oct-00	  	TMA570924	  	20-Nov-02
						
	ELDORADO STONE (Design w/ Diamond)	  	US	  	78/033842	  	3-Nov-00	  	2498513	  	16-Oct-01
						
	ELDORADO STONE & Diamond Design	  	Mexico	  	457093	  	8-Nov-00	  	691314	  	27-Mar-01
						
	ELDORADO STONE & Diamond Design	  	Malaysia	  	2000-18280	  	18-Dec-00	  	18280	  	28-Aug-03
						
	ELDORADO STONE & Diamond Design	  	Oman	  	24449	  	20-Dec-00	  	24449	  	26-Oct-04
						
	ELDORADO STONE & Diamond Design	  	Philippines	  	4-2001-000511	  	25-Jan-01	  	4-2001-000511	  	13-Jan-06
						
	ELDORADO STONE & Diamond Design	  	Bahrain	  	1029/2001	  	20-May-01	  	29694	  	7-Feb-04
						
	COPPER CANYON BRICK & Design	  	Mexico	  	510407	  	2-Oct-01	  	771756	  	29-Sep-02
						
	COPPER CANYON STONE & Design	  	Mexico	  	512200	  	2-Oct-01	  	771763	  	29-Nov-02
						
	HILLSTONE	  	US	  	78/118979	  	2-Apr-02	  	2686690	  	11-Feb-03
						
	RUSTIC LEDGE	  	US	  	78/118991	  	2-Apr-02	  	2727198	  	17-Jun-03
						
	CLIFFSTONE	  	US	  	78/119003	  	2-Apr-02	  	3311629	  	16-Oct-07
						
	QUARRYSTONE	  	US	  	78/119010	  	2-Apr-02	  	3059689	  	14-Feb-06
						
	CREEK COBBLE	  	US	  	78/119018	  	2-Apr-02	  	2824924	  	23-Mar-04
						
	FIELDLEDGE	  	US	  	78/119051	  	2-Apr-02	  	2686691	  	11-Feb-03
						
	ELDORADO	  	Korea (South)	  	2002-0020407	  	10-Oct-02	  	99345	  	6-Apr-04

 Schedule 9.1.11- 14 

											
	 Eldorado Group

	 Trademark
	  	 Country
	  	 Serial No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	ELDORADO	  	Japan	  	86271/2002	  	10-Oct-02	  	4743626	  	23-Jan-04
						
	ELDORADO	  	Japan	  	86272/2002	  	10-Oct-02	  	4733263	  	12-Dec-03
						
	ELDORADO	  	Australia	  	931675	  	23-Oct-02	  	931675	  	23-Oct-02
						
	ELDORADO	  	European Union	  	2903797	  	23-Oct-02	  	2903797	  	28-Jan-04
						
	ELDORADO	  	Canada	  	1156913	  	24-Oct-02	  	TMA606724	  	31-Mar-04
						
	ELDORADO	  	Malaysia	  	-205964	  	25-Oct-02	  		  	
						
	ELDORADO	  	Oman	  	29257	  	26-Oct-02	  	29257	  	9-Jul-05
						
	ELDORADO	  	Philippines	  	4-2002-0009751	  	13-Nov-02	  	4-2002-009751	  	30-Jul-05
						
	ELDORADO	  	Bahrain	  	5273	  	18-Nov-02	  	5273	  	18-Nov-02
						
	ELDORADO	  	Russian Federation	  	2002728771	  	27-Nov-02	  	275325	  	20-Sep-04
						
	ELDORADO	  	Singapore	  	T03/00480Z	  	18-Jan-03	  	T03/00480Z	  	7-Jul-03
						
	ELDORADO	  	Singapore	  	T03/00481H	  	18-Jan-03	  	T03/00481H	  	20-Jan-04
						
	ELDORADO	  	Taiwan	  	92005109	  	20-Jan-03	  	1106645	  	16-Jun-04
						
	ELDORADO	  	Taiwan	  	92005110	  	20-Jan-03	  	191098	  	1-Dec-03
						
	ELDORADO	  	New Zealand	  	672410	  	31-Jan-03	  	672410	  	8-Dec-05
						
	ELDORADO	  	New Zealand	  	672411	  	31-Jan-03	  	672411	  	8-Dec-05
						
	ELDORADO	  	China	  	3453344	  	31-Jan-03	  	3453344	  	28-Aug-04
						
	ELDORADO	  	China	  	3453345	  	31-Jan-03	  	3453345	  	28-Oct-04
						
	ELDORADO	  	US	  	78/239600	  	18-Apr-03	  	2901565	  	9-Nov-04
						
	ELDORADO STONE SEE IT AND BELIEVE IT (Design)	  	US	  	78/239610	  	18-Apr-03	  	2969820	  	19-Jul-05
						
	SYNDECRETE (Design)	  	US	  	76/510,187	  	28-Apr-03	  	2822836	  	16-Mar-04
						
	ELDORADO	  	Egypt	  	159611	  	25-May-03	  	159611	  	25-May-03
						
	ELDORADO	  	Egypt	  	159617	  	25-May-03	  		  	

 Schedule 9.1.11- 15 

											
	 Eldorado Group

	 Trademark
	  	 Country
	  	 Serial No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	ELDORADO	  	Indonesia	  	D00200313 27913403	  	29-May-03	  	IDM000006976	  	6-May-04
						
	ELDORADO	  	Indonesia	  	J00200313 28013404	  	29-May-03	  	IDM000006977	  	6-May-04
						
	ELDORADO STONE & Design (Diamond)	  	Mexico	  	615349	  	20-Aug-03	  	952790	  	19-Sep-06
						
	ELDORADO STONE SEE IT AND BELIEVE IT & Design	  	Korea (South)	  	2005-0004004	  	7-Oct-05	  	45-0017008	  	4-Aug-06
						
	ELDORADO STONE & Diamond Design	  	Korea (South)	  	2005-0022732	  	7-Oct-05	  	41-0135827	  	8-Aug-06
						
	ELDORADO	  	Korea (South)	  	2005-0046537	  	7-Oct-05	  	40-0673298	  	8-Aug-06
						
	ELDORADO STONE SEE IT AND BELIEVE IT & Design	  	China	  	4959896	  	24-Oct-05	  		  	
						
	ELDORADO STONE SEE IT AND BELIEVE IT & Design	  	China	  	4959897	  	24-Oct-05	  		  	
						
	ELDORADO STONE & Diamond Design	  	China	  	4959898	  	24-Oct-05	  		  	
						
	ELDORADO STONE & Diamond Design	  	China	  	4959899	  	24-Oct-05	  		  	
						
	WHERE DO YOU ROCK?	  	US	  	76/656519	  	13-Mar-06	  	3238657	  	8-May-07
						
	TUNDRABRICK	  	US	  	76/657,452	  	29-Mar-06	  	3195583	  	9-Jan-07
						
	MODENABRICK	  	US	  	76/657,464	  	29-Mar-06	  	3200252	  	23-Jan-07
						
	ELDORADO BRICK	  	US	  	78/886,529	  	18-May-06	  	3236796	  	l-May-07
						
	VIABRICK	  	US	  	78/886,530	  	18-May-06	  	3204071	  	30-Jan-07
						
	CYPRESS RIDGE	  	US	  	77/148223	  	4-Apr-07	  	3521444	  	21-Oct-08
						
	CAMINOADOBE	  	US	  	77/152951	  	10-Apr-07	  	3581105	  	24-Feb-09
						
	LIVE BEYOND THE SURFACE	  	US	  	76/677,385	  	25-May-07	  	3505740	  	23-Sep-08
						
	ELDORADO	  	European Union	  	929596	  	2-Jul-07	  	929596	  	2-Jul-07
						
	ELDORADO	  	WIPO	  	929596	  	2-Jul-07	  	929596	  	2-Jul-07
						
	ELDORADO	  	Russian Federation	  	929596	  	2-Jul-07	  		  	
						
	ELDORADO ADOBE	  	Mexico	  	881365	  	10-Sep-07	  		  	
						
	ROUGHCUT	  	US	  	77/278689	  	13-Sep-07	  	3581901	  	24-Feb-09
						
	CYPRESS RIDGE	  	European Union	  	6283378	  	17-Sep-07	  		  	

 Schedule 9.1.11- 16 

											
	 Eldorado Group

	 Trademark
	  	Country	  	Serial No.	  	App Date	  	Reg. No.	  	Reg. Date
	 CYPRESS RIDGE
	  	Mexico	  	884183	  	21-Sep-07	  		  	
						
	 CAMINO ADOBE
	  	Mexico	  	885422	  	27-Sep-07	  	1011460	  	15-Nov-07
						
	 CYPRESS RIDGE
	  	Canada	  	1366162	  	3-Oct-07	  		  	
						
	 CYPRESS RIDGE
	  	CA	  	1366162	  	3-Oct-07	  	TMA723219	  	9-Sep-08
						
	 THE IMPACT OF GROUT
	  	US	  	77/315876	  	29-Oct-07	  	3457413	  	1-Jul-08
						
	THE MOST BELIEVABLE ARCHITECTURAL STONE VENEER IN THE WORLD	  	US	  	77/317920	  	31-Oct-07	  		  	
						
	 GEMSTONES
	  	US	  	77/414762	  	6-Mar-08	  		  	
						
	 ELDORADO STONE
	  	US	  	77/432956	  	27-Mar-08	  	3569287	  	3-Feb-09
						
	 ELDORADO STONE
	  	WIPO	  		  	27-Sep-08	  		  	
						
	 COASTALREEF
	  	US	  	77/621417	  	25-Nov-08	  	3643158	  	23-Jun-09
						
	 CAMINOADOBE
	  	Mexico	  	985123	  	21-Jan-09	  		  	
						
	 ArtWall
	  	US	  	77/697339	  	23-Mar-09	  		  	
						
	 CUT COURSE STONE
	  	US	  	77/697293	  	23-Mar-09	  		  	
						
	 GEMSTONE
	  	US	  	77/697347	  	23-Mar-09	  		  	
						
	 STONE JOURNALS
	  	US	  	77/697344	  	23-Mar-09	  		  	
	
	 Tapco Group

	 Trademark
	  	Country	  	Serial No.	  	App Date	  	Reg. No.	  	Reg. Date
	 PORT-O-BRAKE
	  	US	  	72/170704	  	10-Jun-1963	  	776556	  	08-Sep-1964
						
	 WOMAN & BRAKE LOGO
	  	US	  	72/201761	  	11-Sep-1964	  	790308	  	01-Jun-1965
						
	 PORT-O-COILER (Design)
	  	US	  	73/217351	  	29-May-1979	  	1168051	  	08-Sep-1981
						
	 PORT-O-BRAKE
	  	US	  	73/243490	  	19-Dec-1979	  	1158851	  	30-Jun-1981
						
	 SHUTTER-LOK
	  	US	  	73/276718	  	05-Sep-1980	  	1187685	  	26-Jan-1982
						
	 PORT-O-BENDER
	  	US	  	73/278364	  	18-Sep-1980	  	1175860	  	03-Nov-1981

 Schedule 9.1.11- 17

											
	 Tapco Group

	 Trademark
	  	Country	  	Serial No.	  	App Date	  	Reg. No.	  	Reg. Date
	VANTAGE	  	US	  	73/520793	  	01-Feb-1985	  	1365611	  	15-Oct-1985
						
	PORT-O-SLITTER	  	US	  	73/662168	  	21-May-1987	  	1505581	  	27-Sep-1988
						
	RAIN AWAY	  	US	  	73/751355	  	12-Sep-1988	  	1531995	  	28-Mar-1989
						
	MOUNT MASTER	  	US	  	74/039187	  	16-Mar-1990	  	1649514	  	02-Jul-1991
						
	SURFACE MASTER	  	US	  	74/039199	  	16-Mar-1990	  	1648867	  	25-Jun-1991
						
	MID-AMERICA MASTER SERIES	  	US	  	74/053125	  	26-Apr-1990	  	1687752	  	19-May-1992
						
	VANTAGE	  	US	  	74/229225	  	11-Dec-1991	  	1747122	  	19-Jan-1993
						
	VANTAGE	  	US	  	75/984006	  	11-Dec-1991	  	3407634	  	19-Jan-1993
						
	TAPCO MAX-I-MUM COMMERCIAL MODEL PORT-O-BENDER (Design)	  	US	  	74/242711	  	03-Feb-1992	  	1744296	  	05-Jan-1993
						
	MASTER	  	US	  	74/283225	  	09-Jun-1992	  	1756679	  	09-Mar-1993
						
	STYLE-A-SHUTTER	  	US	  	74/283582	  	09-Jun-1992	  	1756864	  	09-Mar-1993
						
	MASTER SHUTTER	  	US	  	74/286947	  	22-Jun-1992	  	1753924	  	23-Feb-1993
						
	PRO-EDGE SAW TABLE & CUTTING STATION (Design)	  	US	  	74/310588	  	03-Sep-1992	  	1771491	  	18-May-1993
						
	TAPCO	  	US	  	74/461669	  	22-Nov-1993	  	1908137	  	01-Aug-1995
						
	TAPCO (Design)	  	US	  	74/461670	  	22-Nov-1993	  	1917615	  	12-Sep-1995
						
	TAPCO PRO-III PORT-O-BENDER (Design)	  	US	  	74/486147	  	03-Feb-1994	  	1871077	  	03-Jan-1995

 Schedule 9.1.11- 18

											
	 Tapco Group

	 Trademark
	  	 Country
	  	 Serial No.
	  	 App Date
	  	 Reg. No.
	  	 Reg. Date

	HIP MASTER (Design)	  	US	  	74/576577	  	21-Sep-1994	  	1936844	  	21-Nov-1995
						
	HIP MASTER	  	US	  	74/576578	  	21-Sep-1994	  	1932909	  	07-Nov-1995
						
	BUILDERS EDGE (Design)	  	US	  	74/600155	  	17-Nov-1994	  	1950751	  	23-Jan-1996
						
	PROFESSIONAL CUT-OFF (Design)	  	US	  	74/661066	  	14-Apr-1995	  	1979053	  	04-Jun-1996
						
	DUOSEAL	  	CA	  	794763	  	13-Oct-1995	  	493307	  	21-Apr-1998
						
	ATLANTIC	  	US	  	75/365198	  	29-Sep-1997	  	2270262	  	17-Aug-1999
						
	PRO2000	  	CA	  	1009989	  	26-Mar-1999	  	545245	  	16-May-2001
						
	PRO2000 PORT-O-BENDER Logo	  	CA	  	1009990	  	26-Mar-1999	  	545244	  	16-May-2001
						
	CONFIGURATION OF PORTION OF BRAKE	  	US	  	76/304896	  	17-Aug-2001	  	2662342	  	17-Dec-2002
						
	FACING PORTION OF BRAKE (machine perspective)	  	US	  	76/304897	  	17-Aug-2001	  	2733947	  	08-Jul-2003
						
	FACING PORTION OF BRAKE (anvil perspective)	  	US	  	76/304925	  	17-Aug-2001	  	2662343	  	17-Dec-2002
						
	RIDGEMASTER	  	US	  	76/304578	  	24-Aug-2001	  	2697263	  	18-Mar-2003
						
	RIDGEMASTER KING OF THE RIDGE (Design)	  	US	  	76/304579	  	24-Aug-2001	  	2712820	  	06-May-2003
						
	SNAP STAND	  	US	  	78/211745	  	06-Feb-2003	  	2861575	  	06-Jul-2004
						
	INTEGRATED TOOL SYSTEMS	  	US	  	78/218306	  	24-Feb-2003	  	2982391	  	02-Aug-2005
						
	PROTRAX	  	US	  	78/218308	  	24-Feb-2003	  	2907252	  	30-Nov-2004

 Schedule 9.1.11- 19

											
	 Tapco Group

	 Trademark
	  	 Country
	  	 Serial No.
	  	 App Date
	  	 Reg. No.
	  	Reg. Date
	ENCORE	  	US	  	78/236354	  	10-Apr-2003	  	2870619	  	03-Aug-2004
						
	STONEFIELD	  	US	  	78/252349	  	20-May-03	  	2924293	  	10-Feb-04
						
	SNAP STAND	  	CA	  		  	27-Jun-2003	  	639527	  	10-May-2005
						
	PROTRAX	  	CA	  		  	23-Jul-2003	  	665897	  	09-Jun-2006
						
	VALUE FACTS	  	 CA
	  		  	23-Jul-2003	  	665906	  	09-Jun-2006
						
	INTEGRATED TOOL SYSTEMS	  	CA	  		  	23-Jul-2003	  	678506	  	18-Dec-2006
						
	ENCORE	  	CA	  		  	02-Sep-2003	  	663080	  	21-Apr-2006
						
	HAND TOOLS FOR THE PRO	  	CA	  		  	10-Oct-2003	  	700123	  	05-Nov-2007
						
	WELLCRAFT	  	US	  	76/552728	  	20-Oct-03	  	2939272	  	12-Apr-05
						
	FOUNDRY	  	US	  	78/329042	  	17-Nov-2003	  	2984096	  	09-Aug-2005
						
	MiniTrax	  	US	  	78/359104	  	28-Jan-2004	  	3009528	  	25-Oct-2005
						
	MaxTrax	  	US	  	78/359106	  	28-Jan-2004	  	3032962	  	20-Dec-2005
						
	INNOVATIVE EXTERIOR PRODUCTS	  	US	  	78/359111	  	28-Jan-2004	  	3107643	  	20-Jun-2006
						
	DISTINCTIVE CEDAR ACCENTS	  	US	  	78/359113	  	28-Jan-2004	  	3298724	  	25-Sep-2007
						
	FOUNDRY	  	CA	  	1216022	  	06-May-2004	  	tma688344	  	25-May-2007
						
	SOLID THRU	  	US	  	78/449513	  	12-Jul-2004	  	3370180	  	15-Jan-2008
						
	DESIGN ELEMENTS FOR THE HOME	  	US	  	78/452122	  	16-Jul-2004	  	3057245	  	07-Feb-2006
						
	PRO 14	  	US	  	78/467345	  	13-Aug-2004	  	3062508	  	28-Feb-2006
						
	PRO 19	  	US	  	78/467361	  	13-Aug-2004	  	3062509	  	28-Feb-2006

 Schedule 9.1.11- 20

											
	 Tapco Group

	 Trademark
	  	 Country
	  	 Serial No.
	  	App Date	  	 Reg. No.
	  	 Reg. Date

	WINDY	  	US	  	78/467370	  	13-Aug-2004	  	3057324	  	07-Feb-2006
						
	SIDE-WINDER	  	US	  	78/467377	  	13-Aug-04	  	3254729	  	26-Jun-07
						
	MAX-I-MUM	  	US	  	78/467380	  	13-Aug-2004	  	2998277	  	20-Sep-2005
						
	PRESSLOK	  	US	  	78/471217	  	20-Aug-2004	  	3122700	  	01-Aug-2006
						
	EASY-LOK	  	US	  	78/471226	  	20-Aug-2004	  	3257686	  	03-Jul-2007
						
	NUSHELL	  	US	  	78/471232	  	20-Aug-2004	  	3001902	  	27-Sep-2005
						
	DESIGN ELEMENTS FOR THE HOME	  	CA	  	1239247	  	01-Dec-2004	  	711567	  	10-Apr-08
						
	PRO 19	  	CA	  	1239731	  	06-Dec-2004	  	695611	  	05-Sep-2007
						
	WINDY	  	CA	  	1239732	  	06-Dec-2004	  	697209	  	25-Sep-2007
						
	SOLID THRU	  	CA	  	1241181	  	17-Dec-2004	  	729218	  	24-Nov-08
						
	BUILDERS EDGE	  	US	  	78/621602	  	03-May-2005	  	3331005	  	06-Nov-2007
						
	HOME DEFENSE	  	CA	  	1256849	  	06-May-2005	  	729216	  	24-Nov-08
						
	ATLANTIC PREMIUM SHUTTER (Logo)	  	US	  	78/628058	  	11-May-2005	  	3341132	  	20-Nov-2007
						
	THE TAPCO GROUP (Logo)	  	US	  	78/980029	  	7-Jun-05	  	3538995	  	25-Nov-08
						
	THE TAPCO GROUP	  	US	  	78/645288	  	07-Jun-2005	  	3518179	  	14-Oct-08
						
	THE TAPCO GROUP (Design)	  	US	  	78/645298	  	07-Jun-2005	  		  	
						
	TAPCO GROUP (Logo)	  	US	  	78/645855	  	07-Jun-2005	  	3529084	  	4-Nov-08

 Schedule 9.1.11- 21

											
	 Tapco Group

	 Trademark
	  	 Country
	  	 Serial No.
	  	App Date	  	 Reg. No.
	  	 Reg. Date

	 THE TAPCO GROUP
	  	US	  	78/980014	  	07-Jun-2005	  	3665213	  	4-Aug-09
						
	TAPCO GROUP (Logo)	  	US	  	78/980029	  	07-Jun-2005	  	3538995	  	25-Nov-08
						
	FINISH THE JOB	  	US	  	78/652398	  	16-Jun-2005	  	3320156	  	23-Oct-2007
						
	MID-AMERICA SIDING COMPONENTS	  	US	  	78/652400	  	16-Jun-2005	  	3234945	  	24-Apr-2007
						
	THE TAPCO GROUP (Logo)	  	CA	  	1262261	  	22-Jun-2005	  		  	
						
	THE TAPCO GROUP	  	CA	  	1262262	  	22-Jun-2005	  		  	
						
	THE TAPCO GROUP and logo	  	CA	  	1262265	  	22-Jun-2005	  		  	
						
	ATLANTIC SHUTTER & LOGO	  	CA	  	1262266	  	22-Jun-2005	  	729404	  	25-Nov-08
						
	WINWORKS	  	CA	  	1263453	  	04-Jul-2005	  		  	
						
	STORM DEFENSE	  	US	  	78/677488	  	25-Jul-2005	  		  	
						
	MAX SLATE	  	US	  	78/743,581	  	31-Oct-05	  	3145499	  	19-Sep-06
						
	MAX SHAKE	  	US	  	78/743,585	  	31-Oct-05	  	3145500	  	19-Sep-06
						
	MAX SLATE	  	US	  	78/743581	  	31-Oct-2005	  	3145499	  	19-Sep-06
						
	MAX SHAKE	  	US	  	78/743585	  	31-Oct-2005	  	3145500	  	27-Jun-06
						
	INSPIRE	  	US	  	78/744105	  	31-Oct-2005	  	3309040	  	09-Oct-2007
						
	INFLEX	  	US	  	78/757640	  	19-Nov-2005	  	3309145	  	09-Oct-2007
						
	HARBOR VIEW	  	US	  	78/757642	  	19-Nov-2005	  	3309146	  	09-Oct-2007
						
	MX SERIES	  	US	  	78/897537	  	31-May-2006	  	3357861	  	18-Dec-2007

 Schedule 9.1.11- 22

											
	 Tapco Group

	 Trademark
	  	 Country
	  	 Serial No.
	  	App Date	  	 Reg. No.
	  	 Reg. Date

	MX8	  	US	  	78/897541	  	31-May-2006	  	3363701	  	01-Jan-2008
						
	MX 10	  	US	  	78/897544	  	31-May-2006	  	3363702	  	01-Jan-2008
						
	MX 12	  	US	  	78/897548	  	31-May-2006	  	3363703	  	01-Jan-2008
						
	MX STAND	  	US	  	78/897553	  	31-May-2006	  	3490540	  	19-Aug-08
						
	INNER CIRCLE	  	US	  	78/897565	  	31-May-2006	  	3422950	  	6-May-08
						
	PK CENTRAL	  	US	  	78/897571	  	31-May-2006	  	3405512	  	01-Apr-2008
						
	IQM	  	US	  	78/939913	  	28-Jul-2006	  	3636929	  	9-Jun-09
						
	CORNER TRIM PIECE	  	CA	  	124879	  	29-Feb-2008	  		  	
						
	CORNER TRIM PIECE	  	CA	  	124880	  	29-Feb-2008	  		  	
						
	CORNER TRIM PIECE	  	CA	  	124881	  	29-Feb-2008	  		  	
						
	ASHCRAFT	  	US	  	77/431204	  	25-Mar-2008	  		  	
						
	ATLANTIC	  	US	  	77/459877	  	28-Apr-08	  	3543456	  	9-Dec-08
						
	WINWORKS	  	US	  	77/569866	  	15-Sep-08	  		  	
						
	ATLANTIC	  	BM	  	48582	  	15-Oct-08	  		  	
						
	ATLANTIC	  	VG	  	3686	  	5-Dec-08	  	4993	  	5-Apr-09
						
	INSPIRE	  	MAP	  	A0015211	  	10-Feb-09	  	993733	  	10-Feb-09
						
	TAPCOSLATE	  	US	  	77/758624	  	12-Jun-09	  		  	
						
	PORT-O-SLITTER	  	US	  	77/760100	  	15-Jun-09	  		  	
						
	TAPCOSLATE	  	EP	  	8368656	  	17-Jun-09	  		  	
						
	ATLANTIC	  	CA	  	1413142	  	02.Oct.2008	  		  	

 Schedule 9.1.11- 23 

 Registered Copyrights 

 

	
	 SCP Group

	NONE.

  

	
	 HRI Group

	NONE.

  

	
	 Tapco Group

	NONE.

  

							
	 Eldorado Group

	 Country
	  	 Matter
	  	File Date	  	Reg Date
	US	  	Automated Database Entitled ELDORADOSTONE.COM/ADOBE	  	13-Nov-07	  	29-Mar-09
				
	US	  	Group Registration for Automated Database Entitled GEMSTONES	  	13-Nov-07	  	
				
	US	  	Automated Database Entitled SYNDECRETE.COM	  	13-Nov-07	  	
				
	US	  	Group Registration for Automated Database entitled TUSCAN ROADS	  	13-Nov-07	  	
				
	US	  	Automated Database Entitled ELDORADOSTONE.COM	  	29-May-08	  	
				
	US	  	Automated Database Entitled WALKTHROUGH	  	29-May-08	  	
				
	US	  	Automated Database Entitled ELDORADO BRICK	  	29-May-08	  	
				
	US	  	Automated Database Entitled GEMSTONES	  	29-May-08	  	
				
	US	  	Automated Database Entitled ELDORADOSTONE.COM/ADOBE	  	29-May-08	  	
				
	US	  	Cypress Ridge Profile - Copyright Registration for Printed Product Catalogue	  	29-May-08	  	
				
	US	  	RoughCut Profile - Copyright Registration for Printed Product Catalogue	  	29-May-08	  	
				
	US	  	Eldorado Adobe - Copyright Registration for Printed Product Catalogue	  	29-May-08	  	

 Schedule 9.1.11- 24 

							
	 Eldorado Group

	 Country
	  	 Matter
	  	File Date	  	Reg Date
	US	  	New Eldorado Stone Product Catalog	  	6-Oct-08	  	
				
	US	  	Automated Database Entitled ELDORADOSTONE.COM	  	2-Mar-09	  	

 Schedule 9.1.11- 25 

 Patent Licenses 
 Headwaters uses the following patents under oral licensing agreements: 
  

											
	 HRI Group

	 Patent Name
	  	Country	  	App No.	  	App Date	  	Reg. No.	  	Reg. Date
	SLUDGE STABILIZING METHOD AND APPARATUS	  	US	  	07/366,993	  	16-Jun-89	  	4943165	  	24-Jul-90
						
	SLUDGE STABILIZING METHOD AND APPARATUS	  	US	  	07/520,941	  	9-May-90	  	5040900	  	20-Aug-91
						
	REDUCTION OF AMMONIA IN FLUE GAS AND FLY ASH	  	US	  	10/421191	  	23-Apr-03	  		  	
	
	 Tapco Group

	 Patent Name
	  	Country	  	App No.	  	App Date	  	Reg. No.	  	Reg. Date
	OUTDOOR WINDOW SHUTTER	  	US	  	08/857879	  	16-May-1997	  	5848505	  	15-Dec-1998
						
	ELECTRICAL BLOCK	  	US	  	09/789695	  	21-Feb-2001	  	6359220	  	19-Mar-2002
						
	IMPROVEMENTS IN CONTINUOUS PRODUCTION OF PLASTIC SIDING PANELS WITH SEPARATE SHINGLE APPEARANCE	  	US	  	09/919136	  	31-Jul-2001	  	6635218	  	21-Oct-2003
						
	WATER DEFLECTION APPARATUS	  	US	  	10/328018	  	26-Dec-02	  	6951081	  	4-Oct-05
						
	CONTINUOUS PRODUCTION OF PLASTIC SIDING PANELS WITH SEPARATE SHINGLE APPEARANCE	  	US	  	10/999559	  	30-Nov-2004	  	7296989	  	20-Nov-2007
						
	DECORATIVE MOLDING	  	US	  	11/035315	  	14-Jan-05	  		  	
						
	SHUTTER ASSEMBLY FOR STORM AND SECURITY PROTECTION	  	US	  	11/070619	  	02-Mar-05	  		  	
						
	GLUE MANIFOLD FOR A FUNCTIONAL SHUTTER	  	US	  	11/326098	  	05-Jan-2006	  		  	
						
	WATER DEFLECTION APPARATUS FOR USE WITH A WALL MOUNTING BRACKET	  	US	  	11/390071	  	28-Mar-06	  		  	
						
	LOCKING ASSEMBLY FOR SHUTTERS	  	US	  	11/410551	  	25-Apr-2006	  		  	
						
	ADJUSTABLE MOUNT ASSEMBLY	  	US	  	11/415951	  	01-May-2006	  		  	
						
	HOUSING ASSEMBLY	  	US	  	11/429045	  	05-May-2006	  		  	

 Schedule 9.1.11- 26 

											
	 Tapco Group

	 Patent Name
	  	Country	  	App No.	  	App Date	  	Reg. No.	  	Reg. Date
	EXTERIOR SIDING MOUNTING BRACKETS WITH A WATER DIVERSION DEVICE	  	US	  	11/438165	  	22-May-06	  	7516578	  	14-Apr-09
						
	EXTERIOR SILL	  	US	  	11/439030	  	23-May-2006	  		  	
						
	EXTERIOR SIDING MOUNTING BRACKET ASSEMBLY AND METHOD OF ASSEMBLY	  	US	  	11/423849	  	13-Jun-2006	  		  	
						
	CAP-ON-CAP MOUNTING BLOCK	  	US	  	11/482521	  	07-Jul-06	  		  	
						
	SHUTTER ASSEMBLY	  	US	  	11/458601	  	19-Jul-2006	  		  	
						
	LOCKABLE SHUTTER ASSEMBLY	  	US	  	11/470501	  	06-Sep-2006	  		  	
						
	CEMENT SHUTTER	  	US	  	11/536468	  	28-Sep-2006	  		  	
						
	SYSTEM AND METHOD FOR MAKING DECORATIVE BUILDING PANELS HAVING A VARIEGATED APPEARANCE	  	US	  	11/539822	  	09-Oct-2006	  		  	
						
	WINDOW WELL	  	US	  	11/670505	  	02-Feb-2007	  		  	
						
	PORTABLE HAND TOOL	  	US	  	11/749438	  	16-May-07	  	7516638	  	14-Apr-09
						
	CEMENT SHUTTER HANGING SYSTEM	  	US	  	11/834826	  	07-Aug-2007	  		  	
						
	UNIVERSAL MOUNTING BLOCK SYSTEM	  	US	  	11/981173	  	31-Oct-07	  		  	
						
	CONTINUOUS PRODUCTION OF PLASTIC SIDING PANELS WITH SEPARATE SHINGLE APPEARANCE	  	US	  	11/942502	  	19-Nov-2007	  		  	
						
	FOAM CORE CEMENT AND URETHANE SHUTTERS	  	US	  	11/960403	  	19-Dec-07	  		  	
						
	WALL MOUNT ASSEMBLY	  	US	  	11/963211	  	21-Dec-2007	  		  	
						
	FOAM CORE GYPSUM SHUTTER	  	US	  	12/124835	  	21-May-08	  		  	
						
	WALL MOUNT ASSEMBLY	  	US	  	12/147305	  	27-Jun-08	  		  	

 Schedule 9.1.11- 27 

			
	 LICENSED SOFTWARE

(Excludes Shrink-wrapped Products)

	 Software:
	  	Software Producer:
	
	 Headwaters
Incorporated

	 Microsoft Dynamics GP (formerly Microsoft Business Solutions Great Plains)
	  	Microsoft
	 Cognos Business Intelligence and Financial Performance Management
	  	IBM
	
	 Headwaters Resources,
Inc.

	 Microsoft Dynamics GP (formerly Microsoft Business Solutions Great Plains)
	  	Microsoft
	 Cognos Business Intelligence and Financial Performance Management
	  	IBM
	 SMSTurbo – Scale Management Software
	  	Creative Information Systems, Inc.
	
	 Headwaters Construction Materials,
LLC

	 Sage MAS 200 ERP
	  	Sage Software, Inc.
	 Cognos Business Intelligence and Financial Performance Management
	  	IBM
	
	 Eldorado Stone
LLC

	 Microsoft Dynamics GP (formerly Microsoft Business Solutions Great Plains)
	  	Microsoft
	 Cognos Business Intelligence and Financial Performance Management
	  	IBM
	
	 Tapco International
Corporation

	 OHMWARE, OHM EIS, OHMWeb Environment - WADE
	  	OHM Systems, Inc.
	 Cognos Business Intelligence and Financial Performance Management
	  	IBM

  

	
	 Other Licenses

	 NONE MATERIAL.

  
 Schedule
9.1.11- 28 

 Domain Names 
  

					
	 Tapco International
Corporation:
	  	 Eldorado Stone LLC:

	atlantic-shutters.com	  	shuttersbyatlantic.com	  	elderadostone.com
	atlanticpremiumshutters.com	  	shutterscapes.com	  	eldoradoadobe.com
	atlanticshutter.com	  	stonecraft.com	  	eldoradobrick.com
	atlanticshuttercompany.com	  	stonefieldclassicshutters.com	  	eldoradoculturedstone.com
	atlanticshuttersystems.com	  	swc-products.com	  	eldoradostone.biz
	buildersedge.com	  	tapco-products.com	  	eldoradostone.com
	cedar-vinyl-siding-shakes-shingles.com	  	tapco-tools.com	  	eldoradostone.net
	dinesolbp.com	  	tapcobrakes.com	  	eldoradostone.us
	dinesolbuildingproducts.com	  	tapcoeurope.com	  	esrockgear.com
	foundrybytapco.com	  	tapcogroup.com	  	piedras-del-pacifico.com
	foundrysiding.com	  	tapcogrouppk.com	  	piedrasdelpacifico.com
	greenfieldbuildingproducts.com	  	tapcohandtools.com	  	syndecrete.com
	headwatersbp.com	  	tapcoint.com	  	dutchqualitystone.com
	homeofopportunity.com	  	tapcointegratedtoolsystems.com	  	
	inspireroofing.com	  	tapcotools.com	  	
	 inspireroofingproducts.com

iqmsmartmaterial.com
	  	 tapcotoolsystems.com

thetapcogroup.com
	  	
	iqmtechnology.com	  	vantagebuilding.com	  	
	iqmtrim.com	  	vantageshutters.com	  	
	iqmtrimboard.com	  	well-craft.com	  	
	iqmtrimboards.com	  	wellcraftcorp.com	  	
	maxmanufacturing.com	  	wellcraftegress.com	  	
	maxslateroofing.com	  	wellcraftinc.com	  	
	mid-americaproducts.com	  	wellcraftusa.com	  	
	midamericabuilding.com	  	wellcraftwells.com	  	
	midamericacomponents.com motifportfolio.com	  		  	

  
 Schedule
9.1.11- 29 

 Schedule 9.1.14 

Environmental Matters 
  

															
	 Inspection
 Date
	  	 Agency
	  	 Facility
	  	Citation	 	  	Penalty	 	  	 Description

	
	 Headwaters Resources, Inc. (successor to VFL Technology Corporation)

						
	 Aug-07
	  	Delaware Department of Natural Resources and Environmental Control	  	Biosolids Waste Treatment Site owned by City of Wilmington, Delaware	  	 	NOV	  	  	$	115,000	  	  	Occurred 2003-2006 (primarily prior to being purchased by Headwaters. Mixing / material handling not in compliance with permit condition for sludge stabilization operation. Penalty
paid, operations corrected and Headwaters is currently working with DNREC and the City of Wilmington to finalize a post closure plan for the site.

  
 Schedule
9.1.14- 1 

 Schedule 9.1.15  

Restrictive Agreements 
 1. Senior Secured Notes Documents 

  
 Schedule
9.1.15- 1  

 Schedule 9.1.16 

Litigation and Commercial Tort Claims 
  

	I.	Litigation 

 Phillip E. Boynton, et al.
v. Headwaters Incorporated, Case No. CA-l:02-cv-01111-JPM-egb, United States District Court for the Western District of Tennessee. 

Headwaters Resources, Inc. vs. Ecologica Carmelo, Inc., Case No. 50-154-00170-08, American Arbitration Association 

Mainland Laboratory, LTD. v. Headwaters Resources, Inc. f/k/a ISG Resources, Inc. and Headwaters, Inc., Case No. CA-2:07-cv-00288, United States
District Court for the Southern District of Texas, Corpus Christi Division. 
 Coalco Corporation and Pelletco Company v. Headwaters Inc.,
f/k/a/ Covol Technologies, Inc.; Headwaters Inc., f/k/a Covol Technologies, Inc. v. Sellco Two Corporation, as Trustee of Pelletco Company, Gordon L. Deane, Douglas M. Kinney, Thomas Linden, and Donald R. Logan, as individuals, Case No.
CA-l:09-cv-10195-WGY, United States District Court for the District of Massachusetts. 
 J. Hall Incorporated, R. C. Heavy Haulers, Inc. and
R. C. Trucking, Inc. v. Yukon Coal Company, LLC, Suburban Coal Operations, LLC, Suburban Coal Sales, LLC, Century Coal, LLC and Covol Fuels No. 3, LLC, Case No. CA-6:09-cv-00240-GFVT, United States District Court for the Eastern District of
Kentucky, London Division. 
 Fentress Families Trust, et al. v. VFL Technology Corporation; Headwaters Incorporated; MJM Golf, LLC; et al.,
Case No. CL09000710-00, Virginia: In the Circuit Court for the City of Chesapeake. 
 In Re: Redbird Mountain Coal Company, LLC, Case
No. 09-61000, United States Bankruptcy Court for the Eastern District of Kentucky, London Division. 
  

	II.	Commercial Tort Claims 

 None. 

  
 Schedule
9.1.16- 1 

 Schedule 9.1.18 

Pension Plans 

None. 

  
 Schedule
9.1.18- 1 

 Schedule 9.1.20  

Labor Agreements 
  

							
	 Agreement
	  	 Company
	  	 Counterparty
	  	Term
	Laborers Contract	  	Headwaters Resources, Inc.	  	International Union of North America	  	1/1/09 -12/31/11
				
	Mountaineer Contract	  	American Electric Power (Headwaters Resources, Inc., as a subcontractor, is required to hire union workers and comply with this agreement while working on AEP’s
site.)	  	Tri-State Building and Construction Trades Council	  	1/1/08 -12/31/10
				
	Operating Engineers Local #18	  	Headwaters Resources, Inc.	  	Operating Engineers Local #18	  	4/1/03 - 7/30/10
				
	International Union of Operating Engineers, Local 150	  	Headwaters Resources, Inc.	  	International Union of Operating Engineers & Local 150	  	1/1/08 -12/31/10
				
	Operating Engineers Local 234	  	Headwaters Resources, Inc.	  	Operating Engineers Local 234	  	1/1/09 -12/31/11
				
	Laborers Contract	  	Headwaters Resources, Inc.	  	Laborers’ International Union of North America, Great Plains Laborers District Council	  	year-to-year

  
 Schedule
9.1.20- 1 

 Schedule 10.2.2  

Existing Liens 

A. Liens against Headwaters Resources Inc.: 
  

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	1.	    	Utah, Division of Corp. and Commercial Code	  	351774200807	  	9/29/08	    	Lyle Machinery
					
	2.	    	Utah, Division of Corp. and Commercial Code	  	33541200120	  	12/18/00	    	Zions Credit Corporation
					
	3.	    	Utah, Division of Corp. and Commercial Code	  	42240200122	  	4/2/01	    	Zions Credit Corporation
					
	4.	    	Utah, Division of Corp. and Commercial Code	  	223432200331	  	8/13/03	    	Zions Credit Corporation
					
	5.	    	Utah, Division of Corp. and Commercial Code	  	256339200438	  	11/4/04	    	Zions Credit Corporation
					
	6.	    	Utah, Division of Corp. and Commercial Code	  	258829200445	  	12/14/04	    	Zions Credit Corporation
					
	7.	    	Utah, Division of Corp. and Commercial Code	  	259025200435	  	12/16/04	    	Zions Credit Corporation
					
	8.	    	Utah, Division of Corp. and Commercial Code	  	262640200537	  	2/8/05	    	Zions Credit Corporation
					
	9.	    	Utah, Division of Corp. and Commercial Code	  	266666200537	  	3/31/05	    	Zions Credit Corporation
					
	10.	    	Utah, Division of Corp. and Commercial Code	  	268484200541	  	4/28/05	    	Zions Credit Corporation
					
	11.	    	Utah, Division of Corp. and Commercial Code	  	274727200546	  	7/21/05	    	Zions Credit Corporation
					
	12.	    	Utah, Division of Corp. and Commercial Code	  	275569200538	  	8/3/05	    	Zions Credit Corporation
					
	13.	    	Utah, Division of Corp. and Commercial Code	  	278437200544	  	9/16/05	    	Zions Credit Corporation
					
	14.	    	Utah, Division of Corp. and Commercial Code	  	279554200539	  	9/29/05	    	General Electric Capital Corporation

  
 Schedule
10.2.2- 1 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	 15.
	    	 Utah, Division of Corp. and Commercial Code
	  	 282093200537
	  	11/8/05	    	 Zions Credit Corporation

					
	 16.
	    	 Utah, Division of Corp. and Commercial Code
	  	 285578200540
	  	12/31/05	    	 Zions Credit Corporation

					
	 17.
	    	 Utah, Division of Corp. and Commercial Code
	  	 285579200541
	  	12/31/05	    	 Zions Credit Corporation

					
	 18.
	    	 Utah, Division of Corp. and Commercial Code
	  	 286045200638
	  	1/5/06	    	 General Electric Capital Corporation

					
	 19.
	    	 Utah, Division of Corp. and Commercial Code
	  	 286047200640
	  	1/5/06	    	 General Electric Capital Corporation

					
	 20.
	    	 Utah, Division of Corp. and Commercial Code
	  	 289812200643
	  	3/8/06	    	 Zions Credit Corporation

					
	 21.
	    	 Utah, Division of Corp. and Commercial Code
	  	 290574200637
	  	3/20/06	    	 Zions Credit Corporation

					
	 22.
	    	 Utah, Division of Corp. and Commercial Code
	  	 290622200635
	  	3/21/06	    	 Zions Credit Corporation

					
	 23.
	    	 Utah, Division of Corp. and Commercial Code
	  	 290707200637
	  	3/20/06	    	 Zions Credit Corporation

					
	 24.
	    	 Utah, Division of Corp. and Commercial Code
	  	 290766200639
	  	3/23/06	    	 Zions Credit Corporation

					
	 25.
	    	 Utah, Division of Corp. and Commercial Code
	  	 290856200638
	  	3/23/06	    	 Zions Credit Corporation

					
	 26.
	    	 Utah, Division of Corp. and Commercial Code
	  	 291527200641
	  	4/1/06	    	 General Electric Capital Corporation

					
	 27.
	    	 Utah, Division of Corp. and Commercial Code
	  	 291617200640
	  	3/31/06	    	 Zions Credit Corporation

					
	 28.
	    	 Utah, Division of Corp. and Commercial Code
	  	 293114200636
	  	4/20/06	    	 Zions Credit Corporation

					
	 29.
	    	 Utah, Division of Corp. and Commercial Code
	  	 292764200641
	  	4/17/06	    	 Zions Credit Corporation

					
	 30.
	    	 Utah, Division of Corp. and Commercial Code
	  	 294578200649
	  	5/10/06	    	 Zions Credit Corporation

					
	 31.
	    	 Utah, Division of Corp. and Commercial Code
	  	 296995200649
	  	6/14/06	    	 Zions Credit Corporation

					
	 32.
	    	 Utah, Division of Corp. and Commercial Code
	  	 298066200603
	  	6/29/06	    	 Zions Credit Corporation

  
 Schedule
10.2.2- 2 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	33.	    	Utah, Division of Corp. and Commercial Code	  	298478200606	  	7/5/06	    	Zions Credit Corporation
					
	34.	    	Utah, Division of Corp. and Commercial Code	  	298599200602	  	7/10/06	    	 Assignee Secured Party: Citizens State Bank
  

Assignor Secured Party: Kinetic Leasing, Inc.

					
	35.	    	Utah, Division of Corp. and Commercial Code	  	299461200605	  	7/19/06	    	Chase Equipment Leasing Inc.
					
	36.	    	Utah, Division of Corp. and Commercial Code	  	299840200604	  	7/26/06	    	Zions Credit Corporation
					
	37.	    	Utah, Division of Corp. and Commercial Code	  	303498200609	  	9/18/06	    	Zions Credit Corporation
					
	38.	    	Utah, Division of Corp. and Commercial Code	  	305452200601	  	10/12/06	    	General Electric Capital Corporation
					
	39.	    	Utah, Division of Corp. and Commercial Code	  	309239200606	  	12/12/06	    	Zions Credit Corporation
					
	40.	    	Utah, Division of Corp. and Commercial Code	  	310888200707	  	1/5/07	    	General Electric Capital Corporation
					
	41.	    	Utah, Division of Corp. and Commercial Code	  	311918200700	  	1/22/07	    	General Electric Capital Corporation
					
	42.	    	Utah, Division of Corp. and Commercial Code	  	315167200708	  	3/13/07	    	Key Equipment Finance Inc.
					
	43.	    	Utah, Division of Corp. and Commercial Code	  	315168200701	  	3/13/07	    	Key Equipment Finance Inc.
					
	44.	    	Utah, Division of Corp. and Commercial Code	  	316281200708	  	3/27/07	    	Key Equipment Finance Inc.
					
	45.	    	Utah, Division of Corp. and Commercial Code	  	316344200700	  	3/28/07	    	Key Equipment Finance Inc.
					
	46.	    	Utah, Division of Corp. and Commercial Code	  	316455200701	  	3/29/07	    	Zions Credit Corporation
					
	47.	    	Utah, Division of Corp. and Commercial Code	  	317221200703	  	4/9/07	    	Key Equipment Finance Inc.
					
	48.	    	Utah, Division of Corp. and Commercial Code	  	317309200700	  	4/9/07	    	Zions Credit Corporation

  
 Schedule
10.2.2- 3 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	49.	    	Utah, Division of Corp. and Commercial Code	  	317489200703	  	4/11/07	    	Key Equipment Finance Inc.
					
	50.	    	Utah, Division of Corp. and Commercial Code	  	319843200707	  	5/14/07	    	Key Equipment Finance Inc.
					
	51.	    	Utah, Division of Corp. and Commercial Code	  	320720200783	  	5/25/07	    	Zions Credit Corporation
					
	52.	    	Utah, Division of Corp. and Commercial Code	  	321668200709	  	6/11/07	    	Zions Credit Corporation
					
	53.	    	Utah, Division of Corp. and Commercial Code	  	322949200706	  	6/27/07	    	Zions Credit Corporation
					
	54.	    	Utah, Division of Corp. and Commercial Code	  	324838200705	  	7/25/07	    	Zions Credit Corporation
					
	55.	    	Utah, Division of Corp. and Commercial Code	  	325395200706	  	8/2/07	    	Key Equipment Finance Inc.
					
	56.	    	Utah, Division of Corp. and Commercial Code	  	325894200708	  	8/9/07	    	Zions Credit Corporation
					
	57.	    	Utah, Division of Corp. and Commercial Code	  	327303200705	  	8/31/07	    	U.S. Bancorp Equipment Finance, Inc.
					
	58.	    	Utah, Division of Corp. and Commercial Code	  	327304200708	  	8/31/07	    	U.S. Bancorp Equipment Finance, Inc.
					
	59.	    	Utah, Division of Corp. and Commercial Code	  	327509200709	  	9/4/07	    	 Assignee Secured Party: The Fifth Third Leasing Company
  

Assignor Secured Party: Key Equipment Finance Inc.
  

(Additional Debtors: Covol Engineered Fuels, LC and Headwaters Incorporated)

					
	60.	    	Utah, Division of Corp. and Commercial Code	  	328093200706	  	9/13/07	    	Zions Credit Corporation
					
	61.	    	Utah, Division of Corp. and Commercial Code	  	331580200705	  	11/2/07	    	Zions Credit Corporation
					
	62.	    	Utah, Division of Corp. and Commercial Code	  	331602200784	  	11/5/07	    	Zions Credit Corporation

  
 Schedule
10.2.2- 4 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	63.	    	Utah, Division of Corp. and Commercial Code	  	331910200792	  	11/8/07	    	Zions Credit Corporation
					
	64.	    	Utah, Division of Corp. and Commercial Code	  	334886200707	  	12/27/07	    	Zions Credit Corporation
					
	65.	    	Utah, Division of Corp. and Commercial Code	  	335071200708	  	12/31/07	    	Zions Credit Corporation
					
	66.	    	Utah, Division of Corp. and Commercial Code	  	335126200701	  	12/31/07	    	Zions Credit Corporation
					
	67.	    	Utah, Division of Corp. and Commercial Code	  	335882200803	  	1/11/08	    	Zions Credit Corporation
					
	68.	    	Utah, Division of Corp. and Commercial Code	  	337570200803	  	2/8/08	    	General Electric Capital Corporation
					
	69.	    	Utah, Division of Corp. and Commercial Code	  	337623200800	  	2/11/08	    	General Electric Capital Corporation
					
	70.	    	Utah, Division of Corp. and Commercial Code	  	340488200807	  	3/27/08	    	U.S. Bancorp Equipment Finance, Inc.
					
	71.	    	Utah, Division of Corp. and Commercial Code	  	343838200809	  	5/14/08	    	U.S. Bancorp Equipment Finance, Inc.
					
	72.	    	Utah, Division of Corp. and Commercial Code	  	344127200805	  	5/20/08	    	Key Equipment Finance Inc.
					
	73.	    	Utah, Division of Corp. and Commercial Code	  	344210200892	  	5/20/08	    	Key Equipment Finance Inc.
					
	74.	    	Utah, Division of Corp. and Commercial Code	  	345250200807	  	6/5/08	    	Key Equipment Finance Inc.
					
	75.	    	Utah, Division of Corp. and Commercial Code	  	346185200809	  	6/19/08	    	Zions Credit Corporation
					
	76.	    	Utah, Division of Corp. and Commercial Code	  	346186200802	  	6/19/08	    	Zions Credit Corporation
					
	77.	    	Utah, Division of Corp. and Commercial Code	  	346640200809	  	6/27/08	    	Zions Credit Corporation
					
	78.	    	Utah, Division of Corp. and Commercial Code	  	347142200805	  	7/8/08	    	General Electric Capital Corporation
					
	79.	    	Utah, Division of Corp. and Commercial Code	  	348191200802	  	7/25/08	    	General Electric Capital Corporation
					
	80.	    	Utah, Division of Corp. and Commercial Code	  	349908200807	  	8/25/08	    	General Electric Capital Corporation

  
 Schedule
10.2.2- 5 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	81.	    	Utah, Division of Corp. and Commercial Code	  	350184200809	  	8/28/08	    	General Electric Capital Corporation
					
	82.	    	Utah, Division of Corp. and Commercial Code	  	350521200892	  	9/4/08	    	Zions Credit Corporation
					
	83.	    	Utah, Division of Corp. and Commercial Code	  	350522200895	  	9/4/08	    	Zions Credit Corporation
					
	84.	    	Utah, Division of Corp. and Commercial Code	  	352034200801	  	10/2/08	    	Citibank, N.A.
					
	85.	    	Utah, Division of Corp. and Commercial Code	  	352218200809	  	10/6/08	    	Zions Credit Corporation
					
	86.	    	Utah, Division of Corp. and Commercial Code	  	353970200801	  	11/6/08	    	 Assignee Secured Party:

Park National Bank
  
 Assignor Secured Party:
 Trimarc Financial, Inc.

					
	87.	    	Utah, Division of Corp. and Commercial Code	  	354413200800	  	11/17/08	    	 Assignee Secured Party:

Caterpillar Financial Services Corp.
  

Assignor Secured Party:
 Bank of America Leasing
& Capital, LLC

					
	88.	    	Utah, Division of Corp. and Commercial Code	  	355988200800	  	12/19/08	    	Siemens Financial Services, Inc.
					
	89.	    	Utah, Division of Corp. and Commercial Code	  	357597200903	  	1/26/09	    	Zions Credit Corporation
					
	90.	    	Utah, Division of Corp. and Commercial Code	  	357598200906	  	1/26/09	    	Zions Credit Corporation
					
	91.	    	Utah, Division of Corp. and Commercial Code	  	357599200909	  	1/26/09	    	Zions Credit Corporation
					
	92.	    	Utah, Division of Corp. and Commercial Code	  	357603200909	  	1/26/09	    	Zions Credit Corporation
					
	93.	    	Utah, Division of Corp. and Commercial Code	  	357664200902	  	1/27/09	    	Zions Credit Corporation
					
	94.	    	Utah, Division of Corp. and Commercial Code	  	358002200903	  	2/2/09	    	Wells Fargo Equipment Finance, Inc.

  
 Schedule
10.2.2- 6 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	95.	    	Utah, Division of Corp. and Commercial Code	  	358928200908	  	2/20/09	    	VFS Leasing Co.
					
	96.	    	Utah, Division of Corp. and Commercial Code	  	360274200903	  	3/20/09	    	Deere Credit, Inc.
					
	97.	    	Utah, Division of Corp. and Commercial Code	  	360405200997	  	3/24/09	    	TCP Equipment Finance, Inc.
					
	98.	    	Utah, Division of Corp. and Commercial Code	  	360555200905	  	3/26/09	    	Komatsu Financial Limited Partnership
					
	99.	    	Utah, Division of Corp. and Commercial Code	  	360556200908	  	3/26/09	    	Komatsu Financial Limited Partnership
					
	100.	    	Utah, Division of Corp. and Commercial Code	  	360874200901	  	4/1/09	    	VFS Leasing Co.
					
	101.	    	Utah, Division of Corp. and Commercial Code	  	361136200901	  	4/7/09	    	Deere Credit, Inc.
					
	102.	    	Utah, Division of Corp. and Commercial Code	  	361137200904	  	4/7/09	    	Deere Credit, Inc.
					
	103.	    	Utah, Division of Corp. and Commercial Code	  	361233200905	  	4/8/09	    	VFS Leasing Co.
					
	104.	    	Utah, Division of Corp. and Commercial Code	  	361434200904	  	4/13/09	    	Commercial Credit Group Inc.
					
	105.	    	Utah, Division of Corp, and Commercial Code	  	361978200901	  	4/24/09	    	Commercial Credit Group Inc.
					
	106.	    	Utah, Division of Corp. and Commercial Code	  	362002200986	  	4/24/09	    	Commercial Credit Group Inc.
					
	107.	    	Utah, Division of Corp. and Commercial Code	  	362207200907	  	4/29/09	    	Deere Credit, Inc.
					
	108.	    	Utah, Division of Corp. and Commercial Code	  	362870200909	  	5/11/09	    	VFS Leasing Co.
					
	109.	    	Utah, Division of Corp. and Commercial Code	  	363576200903	  	5/20/09	    	VFS Leasing Co.
					
	110.	    	Utah, Division of Corp. and Commercial Code	  	363848200903	  	5/28/09	    	VFS Leasing Co.
					
	111.	    	Utah, Division of Corp. and Commercial Code	  	364214200903	  	6/4/09	    	Commercial Credit Group Inc.

  
 Schedule
10.2.2- 7 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	112.	    	Utah, Division of Corp. and Commercial Code	  	364349200906	  	6/8/09	    	 Assignee Secured Party:
 VFS
Leasing Co.
  
 Assignor Secured Party:

VFS US LLC

					
	113.	    	Utah, Division of Corp. and Commercial Code	  	364964200909	  	6/18/09	    	VFS Leasing Co.
					
	114.	    	Utah, Division of Corp. and Commercial Code	  	366088200904	  	7/14/09	    	Komatsu Financial Limited Partnership
					
	115.	    	Utah, Division of Corp. and Commercial Code	  	366231200904	  	7/16/09	    	Deere Credit, Inc.
					
	116.	    	Utah, Division of Corp. and Commercial Code	  	366805200909	  	7/29/09	    	Coactiv Capital Partners, Inc.
					
	117.	    	Utah, Division of Corp. and Commercial Code	  	366632200909	  	7/28/09	    	Coactiv Capital Partners, Inc.
					
	118.	    	Utah, Division of Corp. and Commercial Code	  	00701352	  	12/18/00	    	Zions Credit Corporation
					
	119.	    	Utah, Division of Corp. and Commercial Code	  	0170788	  	4/21/01	    	Zions Credit Corp
					
	120.	    	Arkansas, Secretary of State	  	7131059372	  	11/11/08	    	Riggs Rental Services, LLC
					
	121.	    	California, Secretary of State	  	0112760394	  	5/1/01	    	Zions Credit Corporation
					
	122.	    	Delaware, Secretary of State	  	20083355839	  	10/3/08	    	Wells Fargo Equipment Finance, Inc.
					
	123,	    	Delaware, Secretary of State	  	20083355847	  	10/3/08	    	Wells Fargo Equipment Finance, Inc.
					
	124.	    	Mississippi, Secretary of State	  	20080211127F	  	9/29/08	    	Lyle Machinery
					
	125.	    	Mississippi, Secretary of State	  	20080211215C	  	9/29/08	    	Lyle Machinery

  
 Schedule
10.2.2-8 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	126.	    	Ohio, Secretary of State	  	OH00134285033	  	4/28/09	    	 Four O Corporation, dba Oil Distributing Company
  

(Additional Debtor:
 VFL Technology
Corporation)

					
	127.	    	West Virginia, Secretary of State	  	20091897418978	  	3/6/09	    	Rudd Equipment Company
					
	128.	    	West Virginia, Secretary of State	  	200938183496	  	8/7/09	    	Cecil I. Walker Machinery Co.
					
	129.	    	West Virginia, Secretary of State	  	200938183559	  	8/7/09	    	Cecil I. Walker Machinery Co.
					
	130.	    	West Virginia, Secretary of State	  	200938198486	  	9/15/09	    	Cecil I. Walker Machinery Co.

 B. Liens filed against
Headwaters Construction Materials, Inc.: 
  

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	1.	    	Utah, Division of Corp. and Commercial Code	  	276868200542	  	8/22/05	    	Wells Fargo Equipment Finance, Inc.
					
	2.	    	Utah, Division of Corp. and Commercial Code	  	286361200632	  	1/11/06	    	General Electric Capital Corporation

 C. Liens against
Headwaters Construction Materials, Inc.: 
  

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	1.	    	Texas, Secretary of State	  	08-0025130241	  	7/28/08	    	Banc of America Leasing & Capital, LLC
					
	2.	    	Texas, Secretary of State	  	08-0025380238	  	7/29/08	    	Banc of America Leasing & Capital, LLC

  
 Schedule
10.2.2- 9 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	 3.
	    	Texas, Secretary of State	  	08-0026225267	  	8/5/08	    	Banc of America Leasing & Capital, LLC
					
	 4.
	    	Texas, Secretary of State	  	08-0027920321	  	8/20/08	    	Banc of America Leasing & Capital, LLC
					
	 5.
	    	Texas, Secretary of State	  	08-0036630501	  	11/12/08	    	Toyota Motor Credit Corporation
					
	 6.
	    	Texas, Secretary of State	  	09-0002923075	  	1/30/09	    	Toyota Motor Credit Corp
					
	 7.
	    	Texas, Secretary of State	  	09-0005360285	  	2/24/09	    	Toyota Motor Credit Corporation
					
	 8.
	    	Texas, Secretary of State	  	09-0013416943	  	5/12/09	    	VFS Leasing Co.
					
	 9.
	    	Texas, Secretary of State	  	09-0020168298	  	7/16/09	    	Toyota Motor Credit Corp
					
	 10.
	    	Texas, Secretary of State	  	09-0022295201	  	8/6/09	    	Toyota Motor Credit Corp
					
	 11.
	    	Texas, Secretary of State	  	09-0023969088	  	8/25/09	    	De Lage Landen Financial Services, Inc.
					
	 12.
	    	Texas, Secretary of State	  	09-0025937924	  	9/15/09	    	Toyota Motor Credit Corporation

 D. Liens against Eldorado
Stone LLC: 
  

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	 1.
	    	Delaware, Secretary of State	  	33181164	  	12/4/03	    	Les Schwab Tire Centers of Portland, Inc.
					
	 2.
	    	Delaware, Secretary of State	  	43016773	  	10/26/04	    	NMGH Financial Services, Inc.
					
	 3.
	    	Delaware, Secretary of State	  	43247543	  	11/17/04	    	Dell Financial Services, L.P.

  
 Schedule
10.2.2- 10 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	4.	    	Delaware, Secretary of State	  	43464312	  	12/6/04	    	Toyota Financial Services
					
	5.	    	Delaware, Secretary of State	  	52166339	  	7/6/05	    	General Electric Capital Corporation
					
	6.	    	Delaware, Secretary of State	  	52307511	  	7/22/05	    	General Electric Capital Corporation
					
	7.	    	Delaware, Secretary of State	  	54047065	  	12/21/05	    	General Electric Capital Corporation
					
	8.	    	Delaware, Secretary of State	  	61262294	  	4/14/06	    	Zions Credit Corporation
					
	9.	    	Delaware, Secretary of State	  	62124857	  	6/12/06	    	Inter-Tel Leasing, Inc.
					
	10.	    	Delaware, Secretary of State	  	63458601	  	10/5/06	    	Zions Credit Corporation
					
	11.	    	Delaware, Secretary of State	  	64113841	  	11/27/06	    	Zions Credit Corporation
					
	12.	    	Delaware, Secretary of State	  	20072402666	  	6/25/07	    	Crown Credit Company
					
	13.	    	Delaware, Secretary of State	  	20080363877	  	1/30/08	    	Zions Credit Corporation
					
	14.	    	Delaware, Secretary of State	  	20080756849	  	3/3/08	    	Zions Credit Corporation
					
	15.	    	Delaware, Secretary of State	  	20082580395	  	7/28/08	    	 Banc of America Leasing & Capital, LLC
  

(Additional Debtor:
 Headwaters
Incorporated)

					
	16.	    	Delaware, Secretary of State	  	20082582912	  	7/18/08	    	 Banc of America Leasing & Capital, LLC
  

(Additional Debtor:
 Headwaters
Incorporated)

  
 Schedule
10.2.2- 11 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	17.	    	Delaware, Secretary of State	  	20082659843	  	8/4/08	    	 Banc of America Leasing & Capital, LLC
  

(Additional Debtor:
 Headwaters
Incorporated)

					
	18.	    	Delaware, Secretary of State	  	20082846028	  	8/20/08	    	 Banc of America Leasing & Capital, LLC
  

(Additional Debtor:
 Headwaters
Incorporated)

					
	19.	    	Delaware, Secretary of State	  	20083241971	  	9/24/08	    	Mitel Leasing, Inc.
					
	20.	    	Delaware, Secretary of State	  	20083262217	  	9/25/08	    	Leaf Funding Inc.
					
	21.	    	Delaware, Secretary of State	  	20083881917	  	11/20/08	    	Caterpillar Financial Services Corporation
					
	22.	    	Washington, Department of State	  	200433739120	  	12/1/04	    	Toyota Financial Services
					
	23.	    	California, Secretary of State	  	05-7012621913	  	1/14/05	    	Inter-Tel Leasing, Inc.
					
	24.	    	California, Secretary of State	  	05-7035543183	  	7/26/05	    	Inter-Tel Leasing, Inc.
					
	25.	    	California, Secretary of State	  	05-7043833548	  	10/4/05	    	American Machinery Works, Inc.
					
	26.	    	California, Secretary of State	  	05-7043836218	  	10/4/05	    	American Machinery Works, Inc.
					
	27.	    	California, Secretary of State	  	05-7044637723	  	10/12/05	    	Inter-Tel Leasing, Inc.
					
	28.	    	California, Secretary of State	  	06-7095574376	  	12/14/06	    	Inter-Tel Leasing, Inc.
					
	29.	    	California, Secretary of State	  	06-7095927227	  	12/19/06	    	Inter-Tel Leasing, Inc.
					
	30.	    	California, Secretary of State	  	07-7105518600	  	3/8/07	    	Inter-Tel Leasing, Inc.

  
 Schedule
10.2.2- 12 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	31.	    	California, Secretary of State	  	07-7114606668	  	5/21/07	    	Inter-Tel Leasing, Inc.
					
	32.	    	California, Secretary of State	  	07-7121089267	  	7/12/07	    	Zions Credit Corporation
					
	33.	    	California, Secretary of State	  	07-7139645537	  	12/10/07	    	Inter-Tel Leasing, Inc.
					
	34.	    	California, Secretary of State	  	08-7156866966	  	5/1/08	    	Carlson Systems LLC
					
	35.	    	Colorado, Secretary of State	  	20052107704	  	10/20/05	    	American Machinery Works, Inc.
					
	36.	    	Georgia, UCC Central Indexing System	  	087-2005-1910	  	10/20/05	    	American Machinery Works, Inc.
					
	37.	    	Ohio, Secretary of State	  	OH00094573085	  	10/20/05	    	American Machinery Works, Inc.
					
	38.	    	Pennsylvania, Department of State	  	2005102103217	  	10/20/05	    	American Machinery Works, Inc.
					
	39.	    	Pennsylvania, Department of State	  	2006041003504	  	4/10/06	    	Citicapital Commercial Corporation
					
	40.	    	Pennsylvania, Department of State	  	2007040506739	  	4/5/07	    	Citicapital Commercial Corporation
					
	41.	    	Washington, Department of Licensing	  	200433739120	  	12/1/04	    	Toyota Financial Services

 E. Liens against Tapco
International Corporation: 
  

									
	  	    	 JURISDICTION
	  	 FILING/CASE NO.
	  	FILING
DATE	    	 SECURED PARTY

	1.	    	Michigan, Secretary of State	  	2008107306-4	  	7/8/08	    	Cisco Systems Capital Crp

  
 Schedule
10.2.2- 13 

 F. Liens against MTP, Inc.: 

 

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	1.	    	Ohio, Secretary of State	  	OH00049958490	  	5/30/02	    	U.S. Bancorp Equipment Finance, Inc.–Machine Tool Finance Group
					
	2.	    	Ohio, Secretary of State	  	OH00125389193	  	4/1/08	    	McWilliams Sales & Service, Inc.
					
	3.	    	Ohio, Secretary of State	  	OH00137162884	  	9/14/09	    	Milacron Marketing Company LLC
	
	  
 G. Liens against Northwest Stone & Brick, LLC
(predecessor to Eldorado Stone LLC):
  

	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	1.	    	Washington, Department of State	  	200529839383	  	10/21/05	    	American Machinery Works, Inc.
	  
 H. Liens against HCM Block & Brick, LP
(predecessor to Headwaters Construction Materials, LLC):
  

	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	1.	    	Utah, Division of Corp. and Commercial Code	  	326904200701	  	8/27/07	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

 Schedule 10.2.2- 14 

  

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	2.	    	Utah, Division of Corp. and Commercial Code	  	272917200542	  	6/27/05	    	Deere Credit, Inc.
					
	3.	    	Utah, Division of Corp. and Commercial Code	  	296634200642	  	6/9/06	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	4.	    	Utah, Division of Corp. and Commercial Code	  	298115200608	  	6/29/06	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	5.	    	Utah, Division of Corp. and Commercial Code	  	299890200609	  	7/27/06	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	6.	    	Utah, Division of Corp. and Commercial Code	  	303440200690	  	9/15/06	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	7.	    	Utah, Division of Corp. and Commercial Code	  	308330200607	  	11/28/06	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	8.	    	Utah, Division of Corp. and Commercial Code	  	314852200704	  	3/7/07	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	9.	    	Utah, Division of Corp. and Commercial Code	  	319011200702	  	5/2/07	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	10.	    	Utah, Division of Corp. and Commercial Code	  	321041200780	  	5/31/07	    	Zions Credit Corporation

 Schedule 10.2.2- 15

  

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	11.	    	Utah, Division of Corp. and Commercial Code	  	330231200779	  	10/12/07	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	12.	    	Texas, Secretary of State	  	06-0019528728	  	6/8/06	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	13.	    	Texas, Secretary of State	  	06-0020106823	  	6/13/06	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	14.	    	Texas, Secretary of State	  	06-0030715850	  	9/14/06	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	15.	    	Texas, Secretary of State	  	06-0033648969	  	10/10/06	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	16.	    	Texas, Secretary of State	  	07-0003486866	  	1/31/07	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	17.	    	Texas, Secretary of State	  	07-0014277088	  	4/27/07	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	18.	    	Texas, Secretary of State	  	07-0029052540	  	8/24/07	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

 Schedule 10.2.2- 16 

  

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	19.	    	Texas, Secretary of State	  	07-0034805815	  	10/10/07	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

					
	20.	    	Texas, Secretary of State	  	07-0035802196	  	10/19/07	    	 Zions Credit Corporation
  

(Additional Debtor: Southwest Concrete Products)

	  
 I. Liens against VFL Technology Corporation
(predecessor to Headwaters Resources, Inc.):
  

	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 SECURED PARTY

	1.	    	Pennsylvania, Department of State	  	36090946	  	4/4/02	    	 Minolta Business Systems
  

(Debtor's Name: VFL Technology corporation)

					
	2.	    	Pennsylvania, Department of State	  	20030763699	  	7/10/03	    	Orix Financial Services, Inc.
					
	3.	    	Pennsylvania, Department of State	  	2004121403757	  	11/24/04	    	J.W. Burress, inc.
					
	4.	    	Pennsylvania, Department of State	  	2005060304402	  	6/2/05	    	Carter Machinery Co., Inc.
					
	5.	    	Pennsylvania, Department of State	  	2005070602343	  	7/5/05	    	J.W. Burress, Inc.
					
	6.	    	Pennsylvania, Department of State	  	2005081601091	  	8/12/05	    	Carter Machinery Co., Inc.
					
	7.	    	Pennsylvania, Department of State	  	2005090702224	  	9/1/05	    	Carter Machinery Co., Inc.

 J. Liens against Best
Masonry & Tool Supply, LLC (predecessor to HCM Utah, LLC): 
 Schedule 10.2.2- 17 

  

									
	  	    	 JURISDICTION
	  	 FILING NO.
	  	FILING
DATE	    	 PARTY

	1.	    	Texas, Secretary of State	  	05-0021178165	  	7/7/05	    	Deere Credit Inc.

 Schedule 10.2.2- 18

  

 Schedule 10.2.17 

Existing Affiliate Transactions 
 Intercompany Notes 
  

							
	 Note Holder
	  	 Note Payer
	  	Amount	 
	Headwaters Incorporated	  	Tapco International Corporation	  	$	464,750,000	  
	Headwaters Incorporated	  	Eldorado Stone Funding Co., LLC	  	$	16,276,794	  
	Headwaters Incorporated	  	HCM Stone, LLC	  	$	70,387,367	  
	Headwaters Incorporated	  	Eldorado SC-Acquisition Co.	  	$	19,447,155	  
	Headwaters Incorporated	  	Eldorado G-Acquisition Co.	  	$	12,255,465	  
	Headwaters Incorporated	  	Eldorado Stone Funding Co., LLC	  	$	53,929,517	  
	Eldorado Stone Funding Co., LLC	  	Eldorado Stone LLC	  	$	82,968,487	  
	Eldorado Stone Funding Co., LLC	  	Headwaters Construction Materials, LLC (successor-in-interest to the original note payer, ACM Block & Brick, LP)	  	$	16,276,794	  

 Schedule 10.2.17- 1Form of Indenture for Senior Debt Securities

 Exhibit 4.1 
 SOLITARIO EXPLORATION & ROYALTY CORP. 
 TO 

 
  
 Trustee 
 Indenture 

Dated as of             , 20     

Senior Debt Securities 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
		
	 ARTICLE ONE - DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	  
			
	 SECTION 101.
	 	Definitions	  	 	1	  
			
	 SECTION 102.
	 	Compliance Certificates and Opinions	  	 	10	  
			
	 SECTION 103.
	 	Form of Documents Delivered to Trustee	  	 	11	  
			
	 SECTION 104.
	 	Acts of Holders	  	 	11	  
			
	 SECTION 105.
	 	Notices, etc., to Trustee and Company	  	 	13	  
			
	 SECTION 106.
	 	Notice to Holders; Waiver	  	 	13	  
			
	 SECTION 107.
	 	Counterparts; Effect of Headings and Table of Contents	  	 	14	  
			
	 SECTION 108.
	 	Successors and Assigns	  	 	15	  
			
	 SECTION 109.
	 	Severability Clause	  	 	15	  
			
	 SECTION 110.
	 	Benefits of Indenture	  	 	15	  
			
	 SECTION 111.
	 	Governing Law	  	 	15	  
			
	 SECTION 112.
	 	Legal Holidays	  	 	15	  
			
	 SECTION 113.
	 	Limited Liability; Immunity of Stockholders, Directors, Officers and Agents of the Company	  	 	15	  
			
	 SECTION 114.
	 	Conflict with Trust Indenture Act	  	 	16	  
		
	 ARTICLE TWO - SECURITIES FORMS
	  	 	16	  
			
	 SECTION 201.
	 	Forms of Securities	  	 	16	  
			
	 SECTION 202.
	 	Form of Trustee’s Certificate of Authentication	  	 	17	  
			
	 SECTION 203.
	 	Securities Issuable in Global Form	  	 	17	  
		
	 ARTICLE THREE - THE SECURITIES
	  	 	18	  
			
	 SECTION 301.
	 	Amount Unlimited; Issuable in Series	  	 	18	  
			
	 SECTION 302.
	 	Denominations	  	 	21	  
			
	 SECTION 303.
	 	Execution, Authentication, Delivery and Dating	  	 	21	  
			
	 SECTION 304.
	 	Temporary Securities	  	 	24	  
			
	 SECTION 305.
	 	Registration, Registration of Transfer, Conversion and Exchange	  	 	26	  
			
	 SECTION 306.
	 	Mutilated, Destroyed, Lost and Stolen Securities	  	 	30	  
			
	 SECTION 307.
	 	Payment of Interest; Interest Rights Preserved	  	 	31	  
			
	 SECTION 308.
	 	Persons Deemed Owners	  	 	33	  
			
	 SECTION 309.
	 	Cancellation	  	 	33	  
			
	 SECTION 310.
	 	Computation of Interest	  	 	34	  
			
	 SECTION 311.
	 	CUSIP Numbers	  	 	34	  
		
	 ARTICLE FOUR - SATISFACTION AND DISCHARGE
	  	 	34	  
			
	 SECTION 401.
	 	Satisfaction and Discharge of Indenture	  	 	34	  
			
	 SECTION 402.
	 	Application of Trust Funds	  	 	35	  

  
 (i)

							
	 ARTICLE FIVE - REMEDIES
	  	 	36	  
			
	 SECTION 501.
	 	Events of Default	  	 	36	  
			
	 SECTION 502.
	 	Acceleration of Maturity; Rescission and Annulment	  	 	37	  
			
	 SECTION 503.
	 	Collection of Indebtedness and Suits for Enforcement by Trustee	  	 	38	  
			
	 SECTION 504.
	 	Trustee May File Proofs of Claim	  	 	39	  
			
	 SECTION 505.
	 	Trustee May Enforce Claims Without Possession of Securities or Coupons	  	 	40	  
			
	 SECTION 506.
	 	Application of Money Collected	  	 	40	  
			
	 SECTION 507.
	 	Limitation on Suits	  	 	40	  
			
	 SECTION 508.
	 	Unconditional Right of Holders to Receive Principal, Premium or Make-Whole Amount, if any, and Interest	  	 	41	  
			
	 SECTION 509.
	 	Restoration of Rights and Remedies	  	 	41	  
			
	 SECTION 510.
	 	Rights and Remedies Cumulative	  	 	41	  
			
	 SECTION 511.
	 	Delay or Omission Not Waiver	  	 	42	  
			
	 SECTION 512.
	 	Control by Holders of Securities	  	 	42	  
			
	 SECTION 513.
	 	Waiver of Past Defaults	  	 	42	  
			
	 SECTION 514.
	 	Waiver of Usury, Stay or Extension Laws	  	 	43	  
			
	 SECTION 515.
	 	Undertaking for Costs	  	 	43	  
		
	 ARTICLE SIX - THE TRUSTEE
	  	 	43	  
			
	 SECTION 601.
	 	Notice of Defaults	  	 	43	  
			
	 SECTION 602.
	 	Certain Rights of Trustee	  	 	44	  
			
	 SECTION 603.
	 	Not Responsible for Recitals or Issuance of Securities	  	 	45	  
			
	 SECTION 604.
	 	May Hold Securities	  	 	46	  
			
	 SECTION 605.
	 	Money Held in Trust	  	 	46	  
			
	 SECTION 606.
	 	Compensation and Reimbursement	  	 	46	  
			
	 SECTION 607.
	 	Corporate Trustee Required; Eligibility; Conflicting Interests	  	 	47	  
			
	 SECTION 608.
	 	Resignation and Removal; Appointment of Successor	  	 	47	  
			
	 SECTION 609.
	 	Acceptance of Appointment by Successor	  	 	48	  
			
	 SECTION 610.
	 	Merger, Conversion, Consolidation or Succession to Business	  	 	49	  
			
	 SECTION 611.
	 	Appointment of Authenticating Agent	  	 	50	  
			
	 SECTION 612.
	 	Certain Duties and Responsibilities of the Trustee	  	 	51	  
		
	 ARTICLE SEVEN - HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	 	52	  
			
	 SECTION 701.
	 	Disclosure of Names and Addresses of Holders	  	 	52	  
			
	 SECTION 702.
	 	Reports by Trustee	  	 	53	  
			
	 SECTION 703.
	 	Reports by Company	  	 	53	  
			
	 SECTION 704.
	 	Company to Furnish Trustee Names and Addresses of Holders	  	 	53	  

  
 (ii)

							
	 ARTICLE EIGHT - CONSOLIDATION, MERGER, SALE, LEASE OR CONVEYANCE
	  	 	54	  
			
	 SECTION 801.
	 	Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions	  	 	54	  
			
	 SECTION 802.
	 	Rights and Duties of Successor Corporation	  	 	54	  
			
	 SECTION 803.
	 	Officers’ Certificate and Opinion of Counsel	  	 	55	  
		
	 ARTICLE NINE - SUPPLEMENTAL INDENTURES
	  	 	55	  
			
	 SECTION 901.
	 	Supplemental Indentures Without Consent of Holders	  	 	55	  
			
	 SECTION 902.
	 	Supplemental Indentures with Consent of Holders	  	 	56	  
			
	 SECTION 903.
	 	Execution of Supplemental Indentures	  	 	57	  
			
	 SECTION 904.
	 	Effect of Supplemental Indentures	  	 	58	  
			
	 SECTION 905.
	 	Conformity with Trust Indenture Act	  	 	58	  
			
	 SECTION 906.
	 	Reference in Securities to Supplemental Indentures	  	 	58	  
		
	 ARTICLE TEN - COVENANTS
	  	 	58	  
			
	 SECTION 1001.
	 	Payment of Principal, Premium or Make-Whole Amount, if any; and Interest	  	 	58	  
			
	 SECTION 1002.
	 	Maintenance of Office or Agency	  	 	58	  
			
	 SECTION 1003.
	 	Money for Securities Payments to Be Held in Trust	  	 	60	  
			
	 SECTION 1004.
	 	Existence	  	 	61	  
			
	 SECTION 1005.
	 	Maintenance of Properties	  	 	61	  
			
	 SECTION 1006.
	 	Insurance	  	 	62	  
			
	 SECTION 1007.
	 	Payment of Taxes and Other Claims	  	 	62	  
			
	 SECTION 1008.
	 	Statement as to Compliance	  	 	62	  
			
	 SECTION 1009.
	 	Waiver of Certain Covenants	  	 	62	  
		
	 ARTICLE ELEVEN - REDEMPTION OF SECURITIES
	  	 	62	  
			
	 SECTION 1101.
	 	Applicability of Article	  	 	62	  
			
	 SECTION 1102.
	 	Election to Redeem; Notice to Trustee	  	 	62	  
			
	 SECTION 1103.
	 	Selection by Trustee of Securities to Be Redeemed	  	 	63	  
			
	 SECTION 1104.
	 	Notice of Redemption	  	 	63	  
			
	 SECTION 1105.
	 	Deposit of Redemption Price	  	 	64	  
			
	 SECTION 1106.
	 	Securities Payable on Redemption Date	  	 	65	  
			
	 SECTION 1107.
	 	Securities Redeemed in Part	  	 	65	  
		
	 ARTICLE TWELVE - SINKING FUNDS
	  	 	66	  
			
	 SECTION 1201.
	 	Applicability of Article	  	 	66	  
			
	 SECTION 1202.
	 	Satisfaction of Sinking Fund Payments with Securities	  	 	66	  
			
	 SECTION 1203.
	 	Redemption of Securities for Sinking Fund	  	 	66	  
		
	 ARTICLE THIRTEEN - REPAYMENT AT THE OPTION OF HOLDERS
	  	 	67	  
			
	 SECTION 1301.
	 	Applicability of Article	  	 	67	  
			
	 SECTION 1302.
	 	Repayment of Securities	  	 	67	  
			
	 SECTION 1303.
	 	Exercise of Option	  	 	67	  

  
 (iii)

							
	 SECTION 1304.
	 	When Securities Presented for Repayment Become Due and Payable	  	 	68	  
			
	 SECTION 1305.
	 	Securities Repaid in Part	  	 	69	  
		
	 ARTICLE FOURTEEN - DEFEASANCE AND COVENANT DEFEASANCE
	  	 	69	  
			
	 SECTION 1401.
	 	Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance	  	 	69	  
			
	 SECTION 1402.
	 	Defeasance and Discharge	  	 	69	  
			
	 SECTION 1403.
	 	Covenant Defeasance	  	 	70	  
			
	 SECTION 1404.
	 	Conditions to Defeasance or Covenant Defeasance	  	 	70	  
			
	 SECTION 1405.
	 	Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions	  	 	72	  
		
	 ARTICLE FIFTEEN - MEETINGS OF HOLDERS OF SECURITIES
	  	 	73	  
			
	 SECTION 1501.
	 	Purposes for Which Meetings May Be Called	  	 	73	  
			
	 SECTION 1502.
	 	Call, Notice and Place of Meetings	  	 	73	  
			
	 SECTION 1503.
	 	Persons Entitled to Vote at Meetings	  	 	73	  
			
	 SECTION 1504.
	 	Quorum; Action	  	 	73	  
			
	 SECTION 1505.
	 	Determination of Voting Rights; Conduct and Adjournment of Meetings	  	 	75	  
			
	 SECTION 1506.
	 	Counting Votes and Recording Action of Meetings	  	 	75	  
		
	 ARTICLE SIXTEEN - CONVERSION OF SECURITIES
	  	 	76	  
			
	 SECTION 1601.
	 	Applicability of Article; Conversion Privilege and Conversion Price	  	 	76	  
			
	 SECTION 1602.
	 	Exercise of Conversion Privilege	  	 	77	  
			
	 SECTION 1603.
	 	Fractions of Shares	  	 	78	  
			
	 SECTION 1604.
	 	Adjustment of Conversion Price	  	 	78	  
			
	 SECTION 1605.
	 	Notice of Adjustments of Conversion Price	  	 	81	  
			
	 SECTION 1606.
	 	Notice of Certain Corporate Action	  	 	82	  
			
	 SECTION 1607.
	 	Company to Reserve Common Stock	  	 	82	  
			
	 SECTION 1608.
	 	Taxes on Conversion	  	 	82	  
			
	 SECTION 1609.
	 	Covenants as to Common Stock	  	 	82	  
			
	 SECTION 1610.
	 	Cancellation of Converted Securities	  	 	83	  
			
	 SECTION 1611.
	 	Provisions in Case of Consolidation, Merger or Sale of Assets; Special Distributions	  	 	83	  
			
	 SECTION 1612.
	 	Trustee Adjustment Disclaimer; Company Determination Final	  	 	84	  
			
	 SECTION 1613.
	 	When No Adjustment Required	  	 	85	  
			
	 SECTION 1614.
	 	Equivalent Adjustments	  	 	85	  

  

  
 (iv)

 SOLITARIO EXPLORATION & ROYALTY CORP. 

Reconciliation and tie between the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act” or “TIA”) and
the Indenture, dated as of             , 20    . 
  

			
	 Trust Indenture Act Section
	  	            Indenture Section    
        
		
	 § 310(a)(1)
	  	                607
		
	 (a)(2)
	  	                607
		
	 (b)
	  	                607, 608
		
	 § 312(c)
	  	                701
		
	 § 313(a)
	  	                702
		
	 (c)
	  	                702
		
	 § 314(a)
	  	                703
		
	 (a)(4)
	  	                1008
		
	 (c)(1)
	  	                102
		
	 (c)(2)
	  	                102
		
	 (e)
	  	                102
		
	 § 315(b)
	  	                601
		
	 § 316(a) (last sentence)
	  	                101(“Outstanding”)
		
	 (a)(1)(A)
	  	                502, 512
		
	 (a)(1)(B)
	  	                513
		
	 (b)
	  	                508
		
	 § 317(a)(1)
	  	                503
		
	 (a)(2)
	  	                504
		
	 § 318(a)
	  	                111
		
	 (c)
	  	                111

 
 NOTE: This reconciliation and tie shall
not, for any purpose, be deemed to be a part of the Indenture. 
 Attention should also be directed to Section 318(c) of
the Trust Indenture Act, which provides that the provisions of Sections 310 to and including 317 of the Trust Indenture Act are a part of and govern every qualified indenture, whether or not physically contained therein. 

  
 (v)

 INDENTURE, dated as of
            , 20    , between Solitario Exploration & Royalty Corp., a corporation organized under the laws of the State of Colorado (hereinafter called the
“Company”), having its principal office at 4251 Kipling Street, Suite 390, Wheat Ridge, Colorado 80033, and                     , as
Trustee hereunder (hereinafter called the “Trustee”), having a Corporate Trust Office at             . 
 RECITALS OF THE COMPANY 
 The Company deems it necessary to issue from time to
time for its lawful purposes senior debt securities (hereinafter called the “Securities”) evidencing its unsecured and senior indebtedness, and has duly authorized the execution and delivery of this Indenture to provide for the issuance
from time to time of the Securities, to be issued in one or more Series as provided in this Indenture. 
 This Indenture is
subject to the provisions of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act” or “TIA”), that are deemed to be incorporated into this Indenture and shall, to the extent applicable, be governed by such
provisions. 
 All things necessary to make this Indenture a valid and legally binding agreement of the Company, in accordance
with its terms, have been done. 
 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually covenanted and agreed,
for the equal and proportionate benefit of all Holders of the Securities or of a Series thereof, as follows: 
 ARTICLE ONE -
DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 SECTION 101. Definitions. For all purposes of this Indenture,
except as otherwise expressly provided or unless the context otherwise requires: 
 (1) the terms defined in this
Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 

(2) all other terms used herein which are defined in the TIA, either directly or by reference therein, have the meanings
assigned to them therein, and the terms “cash transactions” and “self-liquidating paper,” as used in TIA Section 311, shall have the meanings assigned to them in the rules of the Commission adopted under the TIA; 

(3) all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with GAAP;

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

 “Act,” when used with respect to any Holder, has the meaning specified in
Section 104. 
 “Affiliate” of any specified Person means any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and
policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Authenticating Agent” means any Person authorized by the Trustee pursuant to Section 611 hereof to act on behalf
of the Trustee to authenticate Securities of one or more Series. 
 “Authorized Newspaper” means a newspaper,
printed in the English language or in an official language of the country of publication, customarily published on each Business Day, whether or not published on Saturdays, Sundays or holidays, and of general circulation in each place in connection
with which the term is used or in the financial community of each such place. Whenever successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different Authorized
Newspapers in the same city meeting the foregoing requirements and in each case on any Business Day. 
 “Bankruptcy
Law” has the meaning specified in Section 501. 
 “Bearer Security” means any Security
established pursuant to Section 201 which is payable to the bearer. 
 “Board of Directors” when used with
reference to the Company, means the board of directors of the Company, or any committee of that board duly authorized to act hereunder, or any director or directors and/or officer or officers of the Company, to whom the board or committee shall have
duly delegated its authority. 
 “Board Resolution” means a copy of (1) a resolution certified by the
Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors or a duly authorized committee of the Board of Directors and to be in full force and effect on the date of such certification, or (2) a
certificate signed by the director or directors and/or officer or officers to whom the Board of Directors shall have duly delegated its authority, together with 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 authorizing such delegation, and, in each case, delivered to the Trustee. 

“Business Day,” when used with respect to any Place of Payment or any other particular location referred to in this
Indenture or in the Securities, means, unless otherwise specified with respect to any Securities issued pursuant to Section 301, any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions
in that Place of Payment or particular location are authorized or required by law, regulation or executive order to close. 

“Capital Stock” means, with respect to any Person, any capital stock (including preferred stock), shares, interests,
participations or other ownership interests (however designated) of such Person and any rights (other than debt securities convertible into or exchangeable for corporate stock), warrants or options to purchase any thereof. 

  
 2 

 “Clearstream” means Clearstream Banking Luxembourg, société
anonyme, or its successor. 
 “Closing Price” means the closing price of a share of Common Stock of the Company
as reported on the NYSE Amex Equities. 
 “Code” means the Internal Revenue Code of 1986, as amended, and the
regulations thereunder. 
 “Commission” means the Securities and Exchange Commission, as from time to time
constituted, created under the Exchange Act, or, if at any time after execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust Indenture Act, then the body performing such duties on
such date. 
 “Common Depository” has the meaning specified in Section 304. 

“Common Stock” means, with respect to any Person, all shares of capital stock issued by such Person other than Preferred
Stock. 
 “Company” means the Person named as the “Company” in the first paragraph of this Indenture
until a successor corporation shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor corporation. 

“Company Request” and “Company Order” mean, respectively, a written request or order signed in the name
of the Company by its Chairman of the Board, the Chief Executive Officer, the President, or a Vice President, and by its Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary, of the Company, and delivered to the Trustee.

 “Constituent Person” has the meaning specified in Section 1611. 

“Conversion Event” means the cessation of use of (i) a Foreign Currency both by the government of the country which
issued such currency and for the settlement of transactions by a central bank or other public institutions of or within the international banking community, (ii) the ECU both within the European Monetary System and for the settlement of
transactions by public institutions of or within the European Communities or (iii) any currency unit (or composite currency) other than the ECU for the purposes for which it was established. 

“Conversion Price” has the meaning specified in Section 1601. 

“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 [                    ]. 

“corporation” includes corporations, associations, companies and business trusts. 

  
 3 

 “coupon” means any interest coupon appertaining to a Bearer Security.

 “Covenant Defeasance” has the meaning specified in Section 1403. 

“Custodian” has the meaning specified in Section 501. 

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

“Defeasance” has the meaning specified in Section 1402. 

“Distribution Record Date” has the meaning specified in Section 1611. 

“Dividend Record Date” has the meaning specified in Section 1604. 

“Dollar” or the sign “$” means a dollar or other equivalent unit in such coin or currency of the United
States of America as at the time of payment is legal tender for the payment of public and private debts. 

“DTC” means The Depository Trust Company and any successor to DTC in its capacity as depository for any Securities.

 “ECU” means the European Currency Unit as defined and revised from time to time by the Council of the
European Communities. 
 “Euroclear” means Morgan Guaranty Trust Company of New York, Brussels office, or its
successor, as operator of the Euroclear System. 
 “European Communities” means the European Economic
Community, the European Coal and Steel Community and the European Atomic Energy Community. 
 “European Monetary
System” means the European Monetary System established by the Resolution of December 5, 1978 of the Council of the European Communities. 
 “Event of Default” has the meaning specified in Article Five. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, as in force at the date as of which this Indenture
was executed; provided, however, that in the event the Exchange Act is amended after such date, “Exchange Act” means to the extent required by any such amendment, the Exchange Act as so amended. 

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

“FINRA” means the Financial Industry Regulatory Authority, Inc. 

“Foreign Currency” means any currency, currency unit or composite currency, including, without limitation, the ECU
issued by the government of one or more countries other than the United States of America or by any recognized confederation or association of such governments. 

  
 4 

 “GAAP” means, except as otherwise provided herein, generally accepted
accounting principles, as in effect from time to time, as used in the United States applied on a consistent basis. 

“Global Security” means a Security evidencing all or a part of a series of Securities issued to and registered in the
name of the depository for such series, or its nominee, in accordance with Section 305, and bearing the legend prescribed in Section 203. 
 “Government Obligations” means (i) securities which are (A) direct obligations of the United States of America or the government which issued the Foreign Currency in which the
Securities of a particular series are payable, for the payment of which its full faith and credit is pledged or (B) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America
or such government which issued the Foreign Currency in which the Securities of such series are payable, the payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America or such other
government, which, in either case, are not callable or redeemable at the option of the issuer thereof, and (iii) a depository receipt issued by a bank or trust company as custodian with respect to any such Government Obligation or a specific
payment of interest on or principal of any such Government Obligation held by such custodian for the account of the holder of a depository receipt, provided that (except as required by law) such custodian is not authorized to make any
deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Obligation or the specific payment of interest on or principal of the Government Obligation evidenced
by such depository receipt. 
 “Holder” means, in the case of a Registered Security, the Person in whose name a
Security is registered in the Security Register and, in the case of a Bearer Security, the bearer thereof and, when used with respect to any coupon, shall mean the bearer thereof. 

“Indenture” means this instrument as originally executed or as it may be supplemented or amended from time to time by
one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, and shall include the terms of particular series of Securities established as contemplated by Section 301; provided, however,
that, if at any time more than one Person is acting as Trustee under this instrument, “Indenture” shall mean, with respect to any one or more series of Securities for which such Person is Trustee, this instrument as originally executed or
as it may be supplemented or amended from time to time by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof and shall include the terms of the or those particular series of Securities for which such
Person is Trustee established as contemplated by Section 301, exclusive, however, of any provisions or terms which relate solely to other series of Securities for which such Person is Trustee, regardless of when such terms or provisions were
adopted, and exclusive of any provisions or terms adopted by means of one or more indentures supplemental hereto executed and delivered after such Person had become such Trustee but to which such Person, as such Trustee, was not a party. 

“Indexed Security” means a Security the terms of which provide that the principal amount thereof payable at Stated
Maturity may be more or less than the principal face amount thereof at original issuance. 

  
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 “Interest,” when used with respect to an Original Issue Discount Security
which by its terms bears interest only after Maturity, shall mean interest payable after Maturity. 
 “Interest Payment
Date,” when used with respect to any Security, means the Stated Maturity of an installment of interest on such Security. 
 “Make-Whole Amount,” when used with respect to any Security, means the amount, if any, in addition to principal (and accrued interest thereon, if any) which is required by a Security,
under the terms and conditions specified therein or as otherwise specified as contemplated by Section 301, to be paid by the Company to the Holder thereof in connection with any optional redemption or accelerated payment of such Security.

 “mandatory sinking fund payment” has the meaning specified in Section 1201. 

“Market Value of the Distribution” has the meaning specified in Section 1604. 

“Maturity,” when used with respect to any Security, means the date on which the principal (or, if the context so
requires, in the case of an Original Issue Discount Security, or lesser amount or, in the case of an Indexed Security, an amount determined in accordance with the specified terms of that Security) of such Security or an installment of principal
becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, notice of redemption, notice of option to elect repayment or otherwise. 

“Officers’ Certificate” means a certificate signed by the Chairman of the Board of Directors, the Chief Executive
Officer, the President, or a Vice President (whether or not designated by a number or word or words added before or after the title “Vice President”), and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of
the Company, and delivered to the Trustee. 
 “Opinion of Counsel” means a written opinion of counsel, who may
be counsel for the Company or who may be an employee of or other counsel for the Company. 
 “optional sinking fund
payment” has the meaning specified in Section 1201. 
 “Original Issue Discount Security” means
any Security which provides for an amount (excluding any amounts attributable to accrued but unpaid interest thereon) less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to
Section 502. 
 “Outstanding,” when used with respect to Securities, means, as of the date of
determination, all Securities theretofore authenticated and delivered under this Indenture, except: 
 (i)
Securities theretofore canceled by the Trustee or delivered to the Trustee for cancellation; 

  
 6 

 (ii) Securities, or portions thereof, for whose payment or redemption
(including repayment at the option of the Holder) money in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company
shall act as its own Paying Agent) for the Holders of such Securities and any coupons appertaining thereto; provided, however, that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this
Indenture or provision therefor satisfactory to the Trustee has been made; 
 (iii) Securities, except to the
extent provided in Sections 1402 and 1403, with respect to which the Company has effected Defeasance and/or Covenant Defeasance as provided in Article Fourteen; and 

(iv) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities
have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in
whose hands such Securities are valid obligations of the Company. 
 provided, however, that in determining whether the Holders of
the requisite principal amount of the Outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder or are present at a meeting of Holders for quorum purposes, and for the purpose of making the
calculations required by TIA Section 313, (i) the principal amount of an Original Issue Discount Security that may be counted in making such determination or calculation and that shall be deemed to be Outstanding for such purpose shall be
equal to the amount of principal thereof that would be (or shall have been declared to be) due and payable, at the time of such determination, upon a declaration of acceleration of the maturity thereof pursuant to Section 502, (ii) the
principal amount of any Security denominated in a Foreign Currency that may be counted in making such determination or calculation and that shall be deemed Outstanding for such purpose shall be equal to the Dollar equivalent, determined pursuant to
Section 301 as of the date such Security is originally issued by the Company, of the principal amount (or, in the case of an Original Issue Discount Security, the Dollar equivalent as of such date of original issuance of the amount determined
as provided in clause (i) above) of such Security, (iii) the principal amount of any Indexed Security that may be counted in making such determination or calculation and that shall be deemed outstanding for such purpose shall be equal to
the principal face amount of such Indexed Security at original issuance, unless otherwise provided with respect to such Security pursuant to Section 301, and (iv) Securities owned by the Company or any other obligor upon the Securities or
any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making such calculation or in relying upon any such request, demand,
authorization, direction, notice, consent or waiver, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities owned as provided in clause (iv) above which have been pledged in
good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or any other obligor upon the
Securities or any Affiliate of the Company or of such other obligor. In case of a dispute as to such right, the advice of counsel shall be full protection in respect of any decision made by the Trustee in accordance with such advice. 

  
 7 

 “Paying Agent” means any Person authorized by the Company to pay the
principal of (and premium or Make-Whole Amount, if any) or interest on any Securities or coupons on behalf of the Company. 

“Person” means any individual, corporation, limited liability company, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof, or any other entity or organization. 
 “Place of Payment,” when used with respect to the Securities of or within any series, means the place or places where the principal of (and premium or Make-Whole Amount, if any) and
interest on such Securities are payable as specified as contemplated by Sections 301 and 1002. 
 “Predecessor
Security” of any particular Security means 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 306 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Security or a Security to which a mutilated, destroyed, lost or stolen coupon appertains shall be deemed to evidence the same debt as the
mutilated, destroyed, lost or stolen Security or the Security to which the mutilated, destroyed, lost or stolen coupon appertains. 
 “Preferred Stock” means, with respect to any Person, all capital stock issued by such Person that is entitled to a preference or priority over any other capital stock issued by such
Person with respect to any distribution of such Person’s assets, whether by dividend or upon any voluntary or involuntary liquidation, dissolution or winding up. 
 “Redemption Date,” when used with respect to any Security to be redeemed, in whole or in part, means the date fixed for such redemption by or pursuant to this Indenture. 

“Redemption Price,” when used with respect to any Security to be redeemed, means the price specified in the related
Officers’ Certificate or supplemental indenture contemplated by and pursuant to Section 301, at which it is to be redeemed pursuant to this Indenture. 
 “Reference Date” has the meaning specified in Section 1604. 

“Registered Security” shall mean any Security which is registered in the Security Register. 

“Regular Record Date” for the interest payable on any Interest Payment Date on the Registered Securities of or within
any series means the date specified for that purpose as contemplated by Section 301, whether or not a Business Day. 

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

  
 8 

 “Responsible Officer,” when used with respect to the Trustee, means any
Vice President (whether or not designated by a number or a word or words added before or after the title “Vice President”), Assistant Vice President, Trust Officer or Assistant Trust Officer working in its Corporate Trust Department, or
any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and working in its Corporate Trust Department, and also means, with respect to a particular corporate trust matter,
any other officer to whom such matter is referred because of such officer’s knowledge and familiarity with the particular subject and who shall have direct responsibility for the administration of this Indenture. 

“Rights” has the meaning specified in Section 1604. 

“Rights Record Date” has the meaning specified in Section 1604. 

“Security” and “Securities” has the meaning stated in the first recital of this Indenture and, more
particularly, means any Security or Securities authenticated and delivered under this Indenture; provided, however, that, if at any time there is more than one Person acting as Trustee under this Indenture, “Securities” with
respect to the Indenture as to which such Person is Trustee shall have the meaning stated in the first recital of this Indenture and shall more particularly mean Securities authenticated and delivered under this Indenture, exclusive, however, of
Securities of any series as to which such Person is not Trustee. 
 “Security Register” and “Security
Registrar” have the respective meanings specified in Section 305. 
 A “Series” of Securities
means all securities denoted as part of the same series authorized by or pursuant to a particular Board Resolution. 

“Short Term Rights” has the meaning specified in Section 1604. 

“Significant Subsidiary” means any Subsidiary which is a “significant subsidiary” (as defined in Article I,
Rule 1-02 of Regulation S-X, promulgated under the Securities Act of 1933, as amended) of the Company. 
 “Special
Record Date” for the payment of any Defaulted Interest on the Registered Securities of or within any series means a date fixed by the Company pursuant to Section 307. 

“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, with respect to any Person, any corporation, limited liability company, partnership or other entity
of which a majority of (i) the voting power of the voting equity securities or (ii) the outstanding equity interests are owned, directly or indirectly, by such Person. For the purposes of this definition, “voting equity
securities” means equity securities having voting power for the election of directors, whether at all times or only so long as no senior class of security has such voting power by reason of any contingency. 

  
 9 

 “Trading Day” means any day on which the NYSE Amex Equities is open for
business. 
 “Trigger Events” has the meaning specified in Section 1604. 

“Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended and as in force at the
date as of which this Indenture was executed, except as provided in Section 905. 
 “Trustee” means the
Person named as the “Trustee” in the first paragraph of this Indenture until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each
Person who is then a Trustee hereunder; provided, however, that if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean only the Trustee with respect to
Securities of that series. 
 “Unadjusted Distribution” has the meaning specified in Section 1604.

 “United States” means, unless otherwise specified with respect to any Securities pursuant to
Section 301, the United States of America (including the states and the District of Columbia), its territories, its possessions and other areas subject to its jurisdiction. 

“United States Person” means, unless otherwise specified with respect to any Securities pursuant to Section 301, an
individual who is a citizen or resident of the United States, a corporation, partnership or other entity created or organized in or under the laws of the United States or an estate or trust the income of which is subject to United States Federal
income taxation regardless of its source. 
 “Yield to Maturity” means the yield to maturity, computed at the
time of issuance of a Security (or, if applicable, at the most recent redetermination of interest on such Security) and as set forth in such Security in accordance with generally accepted United States bond yield computation principles. 

SECTION 102. Compliance Certificates and Opinions. Upon any application or request by the Company to the Trustee to take any
action under any provision of this Indenture, the Company shall furnish to the Trustee an Officers’ Certificate stating that all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied
with and an Opinion of Counsel stating that in the opinion of such counsel all such conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is
specifically required by any provision of this Indenture relating to such particular application or request, no additional certificate or opinion need be furnished. 
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (including certificates delivered pursuant to Section 1008) shall include:

 (1) a statement that each individual signing such certificate or opinion has read such condition or covenant
and the definitions herein relating thereto; 

  
 10 

 (2) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a
statement that, in the opinion of each such individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such condition or covenant has been complied with; and

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

Any certificate or opinion of an officer of the 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 the 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 as 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
104. Acts of Holders. 
 (a) Any request, demand, authorization, direction, notice, consent, waiver or other action
provided by this Indenture to be given or taken by Holders of the Outstanding Securities of all series or one or more series, as the case may be, may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by
such Holders in person or by agents duly appointed in writing. If Securities of a series are issuable as Bearer Securities, any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given
or taken by Holders of Securities of such series may, alternatively, be embodied in and evidenced by the record of Holders of Securities of such series voting in favor thereof, either in person or by proxies duly appointed in writing, at any meeting
of Holders of Securities of such series duly called and held in accordance with the provisions of 

  
 11 

 
Article Fifteen, or a combination of such instruments and any such record. Except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments or
record or both are delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments and any such record (and the action embodied therein and evidenced thereby) are herein sometimes referred to as
the “Act” of the Holders signing such instrument or instruments or so voting at any such meeting. Proof of execution of any such instrument or of a writing appointing any such agent, or of the holding by any Person of a Security, shall be
sufficient for any purpose of this Indenture and conclusive in favor of the Trustee and the Company and any agent of the Trustee or the Company, if made in the manner provided in this Section. The record of any meeting of Holders of Securities shall
be proved in the manner provided in Section 1506. 
 (b) The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or
writing acknowledged to him the execution thereof. Where such execution is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date
of the execution of any such instrument or writing, or the authority of the Person executing the same, may also be proved in any other reasonable manner which the Trustee deems sufficient. 

(c) The ownership of Registered Securities shall be proved by the Security Register. As to any matter relating to beneficial ownership
interests in any Global Security, the appropriate depository’s records shall be dispositive for purposes of this Indenture. 
 (d) The ownership of Bearer Securities may be proved by the production of such Bearer Securities or by a certificate executed, as depository, by any trust company, bank, banker or other depository,
wherever situated, if such certificate shall be deemed by the Trustee to be satisfactory, showing that at the date therein mentioned such Person had on deposit with such depository, or exhibited to it, the Bearer Securities therein described; or
such facts may be proved by the certificate or affidavit of the Person holding such Bearer Securities, if such certificate or affidavit is deemed by the Trustee to be satisfactory. The Trustee and the Company may assume that such ownership of any
Bearer Security continues until (1) another certificate or affidavit bearing a later date issued in respect of the same Bearer Security is produced, or (2) such Bearer Security is produced to the Trustee by some other Person, or
(3) such Bearer Security is surrendered in exchange for a Registered Security, or (4) such Bearer Security is no longer Outstanding. The ownership of Bearer Securities may also be proved in any other manner which the Trustee deems
sufficient. 
 (e) If the Company shall solicit from the Holders of Registered Securities any request, demand, authorization,
direction, notice, consent, waiver or other Act, the Company may, at its option, in or pursuant to a Board Resolution, fix in advance a record date for the determination of Holders entitled to give such request, demand, authorization, direction,
notice, consent, waiver or other Act, but the Company shall have no obligation to do so. Notwithstanding TIA Section 316(c), such record date shall be the record date specified in or pursuant to such Board Resolution, which shall be a date not
earlier than the date 30 days prior to 

  
 12 

 
the first solicitation of Holders generally in connection therewith and not later than the date such solicitation is completed. If such a record date is fixed, such request, demand,
authorization, direction, notice, consent, waiver or other Act may be given before or after such record date, but only the Holders of record at the close of business on such record date shall be deemed to be Holders for the purposes of determining
whether Holders of the requisite proportion of Outstanding Securities have authorized or agreed or consented to such request, demand, authorization, direction, notice, consent, waiver or other Act, and for that purpose the Outstanding Securities
shall be computed as of such record date; provided that no such authorization, agreement or consent by the Holders on such record date shall be deemed effective unless it shall become effective pursuant to the provisions of this Indenture not
later than eleven months after the record date. 
 (f) Any request, demand, authorization, direction, notice, consent, waiver or
other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or upon the conversion thereof or in exchange therefor or in lieu thereof
in respect of anything done, omitted or suffered to be done by the Trustee, any Security Registrar, any Paying Agent, any Authenticating Agent or the Company in reliance thereon, whether or not notation of such action is made upon such Security.

 SECTION 105. Notices, etc., to Trustee and Company. Any request, demand, authorization, direction, notice, consent,
waiver or Act of Holders or other document provided or permitted by this Indenture to be made upon, given or furnished to, or filed with, 
 (1) the Trustee by any Holder or by the Company shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at
[                    ] or at any other address previously furnished in writing to the Company by the Trustee, Attention:
[            ]; or 
 (2) the Company by the Trustee
or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at the address of its principal office specified in
the first paragraph of this Indenture or at any other address previously furnished in writing to the Trustee by the Company, Attention: [            ]; or 

(3) either the Trustee or the Company, by the other party or by any Holder, shall be sufficient for every purpose
hereunder if given by facsimile transmission, receipt confirmed by telephone followed by an original copy delivered by guaranteed overnight courier; if to the Trustee at facsimile number
[            ]; and if to the Company at facsimile number [            ]. 

SECTION 106. Notice to Holders; Waiver. Where this Indenture provides for notice of any event to Holders of Registered Securities
by the Company or the Trustee, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each such Holder affected by such event, at his address as it appears in
the Security Register, not later than the latest date, if any, and not earlier than the earliest date, if any, prescribed for the giving of such notice. In any case where notice to Holders of Registered Securities is given by mail, neither the
failure to mail such notice, nor any defect in 

  
 13 

 
any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders of Registered Securities or the sufficiency of any notice to Holders of
Bearer Securities given as provided herein. Any notice mailed to a Holder in the manner herein prescribed shall be conclusively deemed to have been received by such Holder, whether or not such Holder actually receives such notice. 

If by reason of the suspension of or irregularities in regular mail service or by reason of any other cause it shall be impracticable to
give such notice by mail, then such notification to Holders of Registered Securities as shall be made with the approval of the Trustee shall constitute a sufficient notification to such Holders for every purpose hereunder. 

Except as otherwise expressly provided herein or otherwise specified with respect to any Securities pursuant to Section 301, where
this Indenture provides for notice to Holders of Bearer Securities of any event, such notice shall be sufficiently given if published in an Authorized Newspaper in The City of New York and in such other city or cities as may be specified in such
Securities on a Business Day, such publication to be not later than the latest date, if any, and not earlier than the earliest date, if any, prescribed for the giving of such notice. Any such notice shall be deemed to have been given on the date of
such publication or, if published more than once, on the date of the first such publication. 
 If by reason of the suspension
of publication of any Authorized Newspaper or Authorized Newspapers or by reason of any other cause it shall be impracticable to publish any notice to Holders of Bearer Securities as provided above, then such notification to Holders of Bearer
Securities as shall be given with the approval of the Trustee shall constitute sufficient notice to such Holders for every purpose hereunder. Neither the failure to give notice by publication to any particular Holder of Bearer Securities as provided
above, nor any defect in any notice so published, shall affect the sufficiency of such notice with respect to other Holders of Bearer Securities or the sufficiency of any notice to Holders of Registered Securities given as provided herein.

 Any request, demand, authorization, direction, notice, consent or waiver required or permitted under this Indenture shall be
in the English language, except that any published notice may be in an official language of the country of publication. 
 Where
this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by
Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such waiver. 
 SECTION 107. Counterparts; Effect of Headings and Table of Contents. This Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same Indenture. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

  
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 SECTION 108. Successors and Assigns. All covenants and agreements in this Indenture
by the Company shall bind its successors and assigns, whether so expressed or not. 
 SECTION 109. Severability Clause.
In case any provision in this Indenture or in any Security or coupon shall be held invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 SECTION 110. Benefits of Indenture. Nothing in this Indenture or in the Securities or coupons, if any, express or
implied, shall give to any Person, other than the parties hereto, any Security Registrar, any Paying Agent, any Authenticating Agent and their successors hereunder and the Holders any benefit or any legal or equitable right, remedy or claim under
this Indenture. 
 SECTION 111. Governing Law. This Indenture and the Securities and coupons shall be governed by and
construed in accordance with the laws of the State of New York. This Indenture is subject to the provisions of the TIA that are required to be part of this Indenture and shall, to the extent applicable, be governed by such provisions. 

SECTION 112. Legal Holidays. In any case where any Interest Payment Date, Redemption Date, Repayment Date, sinking fund payment
date, Stated Maturity or Maturity of any Security or the last date on which a Holder has the right to convert or exchange a Security shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or
any Security or coupon other than a provision in the Securities of any series which specifically states that such provision shall apply in lieu hereof), payment of interest or principal (and premium or Make-Whole Amount, if any) or conversion or
exchange of such Security need not be made at such Place of Payment on such date, but (except as otherwise provided in the supplemental indenture with respect to such Security) may be made on the next succeeding Business Day at such Place of Payment
with the same force and effect as if made on the Interest Payment Date, Redemption Date, Repayment Date or sinking fund payment date, or at the Stated Maturity or Maturity, or on such last day for conversion or exchange, provided that no interest
shall accrue on the amount so payable for the period from and after such Interest Payment Date, Redemption Date, Repayment Date, sinking fund payment date, Stated Maturity or Maturity, as the case may be. 

SECTION 113. Limited Liability; Immunity of Stockholders, Directors, Officers and Agents of the Company. Notwithstanding any other
provision of this Indenture or of the Securities of any series to the contrary, no recourse under or upon any obligation, covenant or agreement contained in this Indenture or in any Security, or for the payment of any sums due on account of any
indebtedness evidenced thereby, including without limitation principal, premium or interest, if any, or for any claim based on this Indenture or any Security or otherwise in respect of this Indenture or any Security, shall be had, whether by levy or
execution or otherwise, against any past, present or future stockholder, employee, officer, director or agent, as such, of the Company or any successor, either directly or through the Company or any successor, under any rule of law, statute,
constitutional provision or by the enforcement of any assessment or penalty, or by any legal or equitable proceeding or otherwise, nor shall any such parties be personally liable for any such amounts, obligations or claims, or liable for any
deficiency judgment based thereon or with respect thereto, it being 

  
 15 

 
expressly understood that the sole remedies hereunder or under any other document with respect to the Securities against such parties with respect to such amounts, obligations or claims shall be
against the Company and that all such liability of and recourse against such parties is expressly waived and released by the acceptance of the Securities by the Holders and as part of the consideration for the issue of the Securities. 

SECTION 114. Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with another provision
hereof which is required or deemed to be included in this Indenture by any of the provisions of the Trust Indenture Act, such required provision shall control. If any provision of this Indenture modifies or excludes any provision of the Trust
Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 
 ARTICLE TWO - SECURITIES FORMS 
 SECTION 201. Forms of Securities. The
Registered Securities, if any, of each series and the Bearer Securities, if any, of each series and related coupons shall be substantially in the form of Exhibit A hereto or in such other form as shall be established in one or more indentures
supplemental hereto or approved from time to time by or pursuant to a Board Resolution in accordance with Section 301, shall have such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this
Indenture or any indenture supplemental hereto, and may have such letters, numbers or other marks of identification or designation and such legends or endorsements placed thereon as the Company may deem appropriate and as are not inconsistent with
the provisions of this Indenture, or as may be required to comply with any law or with any rule or regulation made pursuant thereto or with any rule or regulation of any over-the-counter market or securities exchange, on which the Securities may be
quoted or listed, or to conform to usage. 
 Unless otherwise specified as contemplated by Section 301, Bearer Securities
shall have interest coupons attached. 
 The definitive Securities and coupons shall be printed, lithographed or engraved or
produced by any combination of these methods on a steel engraved border or steel engraved borders or mechanically reproduced on safety paper or may be produced in any other manner, all as determined by the officers executing such Securities or
coupons, as evidenced by their execution of such Securities or coupons. 

  
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 SECTION 202. Form of Trustee’s Certificate of Authentication. Subject to
Section 611, the Trustee’s certificate of authentication shall be in substantially the following form: 
 This is one
of the Securities of the series designated therein referred to in the within- mentioned Indenture. 
  

									
		 		 	  
	 	,
				
		 		 	as Trustee	 	
					
	Dated:                     	 		 	By:	 	  
	 	
		 		 		 	Authorized Signatory	 	

 SECTION 203. Securities Issuable in Global Form. If Securities of or within a series are
issuable in the form of one or more Global Securities, then, notwithstanding clause (8) of Section 301 and the provisions of Section 302, any such Global Security or Securities may provide that it or they shall represent the aggregate
amount of all Outstanding Securities of such series (or such lesser amount as is permitted by the terms thereof) from time to time endorsed thereon and may also provide that the aggregate amount of Outstanding Securities of such series represented
thereby may from time to time be increased or decreased to reflect exchanges. Any endorsement of any Global Security to reflect the amount, or any increase or decrease in the amount, or changes in the rights of Holders thereof, of Outstanding
Securities represented thereby shall be made (or caused to be made) by the Trustee in such manner or by such Person or Persons as shall be specified therein or in the Company Order to be delivered to the Trustee pursuant to Section 303 or 304.
Subject to the provisions of Section 303 and, if applicable, Section 304, the Trustee shall deliver and redeliver any Global Security in permanent global form in the manner and upon instructions given by the Person or Persons specified
therein or in the applicable Company Order. If a Company Order pursuant to Section 303 or 304 has been, or simultaneously is, delivered, any instructions by the Company with respect to endorsement or delivery or redelivery of a Global Security
shall be in writing but need not comply with Section 102 and need not be accompanied by an Opinion of Counsel. 
 The
provisions of the last sentence of Section 303 shall apply to any Security represented by a Global Security if such Security was never issued and sold by the Company and the Company delivers to the Trustee the Global Security together with
written instructions (which need not comply with Section 102 and need not be accompanied by an Opinion of Counsel) with regard to the reduction in the principal amount of Securities represented thereby, together with the written statement
contemplated by the last sentence of Section 303. 
 Notwithstanding the provisions of Section 307, unless otherwise
specified as contemplated by Section 301, payment of principal of and any premium or Make-Whole Amount, if any, and interest on any Global Security in permanent global form shall be made to the registered Holder thereof. 

Notwithstanding the provisions of Section 308 and except as provided in the preceding paragraph, the Company, the Trustee and any
agent of the Company and the Trustee shall treat as the Holder of such principal amount of Outstanding Securities represented by a permanent Global Security (i) in the case of a permanent Global Security in registered form, the Holder of such
permanent Global Security in registered form, or (ii) in the case of a permanent Global Security in bearer form, Euroclear or Clearstream. 

  
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 Any Global Security authenticated and delivered hereunder shall bear a legend in
substantially the following form: 
 “This Security is a Global Security within the meaning set forth in the Indenture
hereinafter referred to and is registered in the name of a Depository or a nominee of a Depository. This Security is exchangeable for Securities registered in the name of a person other than the Depository or its nominee only in the limited
circumstances described in the Indenture, and may not be transferred except as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or
its nominee to a successor Depository or its nominee.” 
 ARTICLE THREE - THE SECURITIES 

SECTION 301. Amount Unlimited; Issuable in Series. The aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture is unlimited. 
 The Securities may be issued in one or more series, each of which shall be
authorized pursuant to Board Resolutions of the Company. There shall be established in one or more Board Resolutions or pursuant to authority granted by one or more Board Resolutions and, subject to Section 303, set forth in an Officers’
Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series: 
 (1) The title of the Securities of the series, including “CUSIP” numbers (which shall distinguish the Securities of such series from all other series of Securities); 

(2) Any limit upon the aggregate principal amount of the Securities of the series that may be authenticated and delivered
under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or upon conversion of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 304, 305, 306, 906, 1107 or
1305) and the minimum authorized denominations with respect to the Securities of such series; 
 (3) The price
(expressed as a percentage of the principal amount thereof) at which such Securities will be issued and, if other than the principal amount thereof, the portion of the principal amount thereof payable upon declaration of acceleration of the maturity
thereof or (if applicable) the portion of the principal amount of such Securities that is convertible into Common Stock or the method by which any such portion shall be determined. 

(4) If convertible, the terms on which such Securities are convertible, including the initial conversion price or rate and
the conversion period and any applicable limitations on the ownership or transferability of Common Stock or Preferred Stock receivable on conversion; 
 (5) The date or dates, or the method for determining such date or dates, on which the principal of such Securities will be payable; 

  
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 (6) The rate or rates (which may be fixed or variable), or the method by
which such rate or rates shall be determined, at which such Securities will bear interest, if any; 
 (7) The
date or dates, or the method for determining such date or dates, from which any such interest will accrue, the Interest Payment Dates on which any such interest will be payable, the Regular Record Dates for such Interest Payment Dates, or the method
by which such dates shall be determined, the Persons to whom such interest shall be payable, and the basis upon which interest shall be calculated if other than that of a 360-day year of twelve 30-day months; 

(8) The Make-Whole Amount, if any, or method for determining the Make-Whole Amount, if any, payable with respect to such
Securities, and the terms upon which such amount, if any, will be payable; 
 (9) The place or places where the
principal of (and premium or Make-Whole Amount, if any) and interest, if any, on such Securities will be payable, where such Securities may be surrendered for registration of transfer or conversion or exchange and where notices or demands to or upon
the Company in respect of such Securities and this Indenture may be served; 
 (10) The period or periods, if
any, within which, the price or prices at which and the other terms and conditions upon which such Securities may, pursuant to any optional or mandatory redemption provisions, be redeemed, as a whole or in part, at the option of the Company;

 (11) The obligation, if any, of the Company to redeem, repay or purchase such Securities pursuant to any
sinking fund or analogous provision or at the option of a Holder thereof, and the period or periods within which, the price or prices at which and the other terms and conditions upon which such Securities will be redeemed, repaid or purchased, as a
whole or in part, pursuant to such obligation; 
 (12) If other than Dollars, the currency or currencies in which
such Securities are denominated and payable, which may be a foreign currency or units of two or more foreign currencies or a composite currency or currencies, the manner of determining the equivalent thereof in Dollars for purposes of the definition
of “Outstanding” in Section 101, and the terms and conditions relating thereto; 
 (13) Whether
the amount of payments of principal of (and premium or Make-Whole Amount, if any, including any amount due upon redemption, if any) or interest on such Securities may be determined with reference to an index, formula or other method (which index,
formula or method may, but need not be, based on the yield on or trading price of other securities, including United States Treasury securities or on a currency, currencies, currency unit or units, or composite currency or currencies) and the manner
in which such amounts shall be determined; 
 (14) Whether the principal of (and premium or Make-Whole Amount, if
any) or interest on the Securities of the series are to be payable, at the election of the Company or a Holder thereof, in a currency or currencies, currency unit or units or composite currency or currencies other than that in which such Securities
are denominated or stated to be payable, the period or periods within which, and the terms and conditions upon which, such election may be made, and the time and manner of, and identity of the

  
 19 

 
exchange rate agent with responsibility for, determining the exchange rate between the currency or currencies, currency unit or units or composite currency or currencies in which such Securities
are denominated or stated to be payable and the currency or currencies, currency unit or units or composite currency or currencies in which such Securities are to be so payable; 

(15) Provisions, if any, granting special rights to the Holders of Securities of the series upon the occurrence of such
events as may be specified; 
 (16) Any deletions from, modifications of or additions to the Events of Default or
covenants of the Company with respect to Securities of the series, whether or not such Events of Default or covenants are consistent with the Events of Default or covenants set forth herein; 

(17) Whether and under what circumstances the Company will pay any additional amounts on such Securities in respect of any
tax, assessment or governmental charge and, if so, whether the Company will have the option to redeem such Securities in lieu of making such payment; 
 (18) Whether Securities of the series are to be issuable as Registered Securities, Bearer Securities (with or without coupons) or both, any restrictions applicable to the offer, sale or delivery of Bearer
Securities and the terms upon which Bearer Securities of the series may be exchanged for Registered Securities of the series and vice versa (if permitted by applicable laws and regulations), whether any Securities of the series are to be issuable
initially in temporary global form and whether any Securities of the series are to be issuable in permanent global form with or without coupons and, if so, whether beneficial owners of interests in any such permanent global Security may, or shall be
required to, exchange such interests for Securities of such series and of like tenor of any authorized form and denomination and the circumstances under which any such exchanges may, or shall be required to, occur, if other than in the manner
provided in the Indenture, and, if Registered Securities of the series are to be issuable as a Global Security, the identity of the depository for such series; 
 (19) The date as of which any Bearer Securities of the series and any temporary Global Security representing outstanding Securities of the series shall be dated if other than the date of original issuance
of the first Security of the series to be issued; 
 (20) The Person to whom any interest on any Registered
Security of the series shall be payable, if other than the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest the manner in which, or the
Person to whom, any interest on any Bearer Security of the series shall be payable, if otherwise than upon presentation and surrender of the coupons appertaining thereto as they severally mature, and the extent to which, or the manner in which, any
interest payable on a temporary Global Security on an Interest Payment Date will be paid if other than in the manner provided herein; provided, however, in each case, that the manner of determining such Person or making such payment
shall be acceptable to the Trustee (as not imposing on it any undue administrative burden or risk of liability); 

  
 20 

 (21) The applicability, if any, of the Defeasance and Covenant Defeasance
provisions of Article Fourteen hereof to the Securities of the series; 
 (22) The obligation, if any, of the
Company to permit the conversion of the Securities of such series into Common Stock or Preferred Stock, as the case may be, and the terms and conditions upon which such conversion shall be effected (including, without limitation, the initial
conversion price or rate, the conversion period, any adjustment of the applicable conversion price and any requirements relative to the reservation of such shares for purposes of conversion); 

(23) If the Securities of such series are to be issuable in definitive form (whether upon original issue or upon exchange
of a temporary Security of such series) only upon receipt of certain certificates or other documents or satisfaction of other conditions, then the form and/or terms of such certificates, documents or conditions; 

(24) Designation of the Trustee, if different from the Trustee under the Indenture, with respect to such series and the
terms applicable to such Trustee (which shall be accepted by such Trustee by its execution and delivery of a supplemental indenture as provided therein); and 
 (25) Any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture). 
 All Securities of any one series and the coupons appertaining to any Bearer Securities of such series shall be substantially identical except, in the case of Registered Securities, as to denomination and
except as may otherwise be provided in or pursuant to such Board Resolution (subject to Section 303) and set forth in such Officers’ Certificate or in any such indenture supplemental hereto. All Securities of any one series need not be
issued at the same time and, unless otherwise provided, a series may be reopened, without the consent of the Holders, for issuances of additional Securities of such series. 
 If any of the terms of the Securities of any series are established by action taken pursuant to one or more Board Resolutions, a copy of an appropriate record of such action(s) 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 the Officers’ Certificate setting forth the terms of the Securities of such series. 

SECTION 302. Denominations. The Securities of each series shall be issuable in such denominations as shall be specified as
contemplated by Section 301. With respect to Securities of any series denominated in Dollars, in the absence of any such provisions with respect to the Securities of any series, the Securities of such series, other than Global Securities (which
may be of any denomination), shall be issuable in denominations of $1,000 and any integral multiple thereof or the equivalent amounts thereof in the case of Securities denominated in the Foreign Currency or currency unit. 

SECTION 303. Execution, Authentication, Delivery and Dating. The Securities and any coupons appertaining thereto shall be executed
on behalf of the Company by its Chairman of the Board, its Chief Executive Officer, its President, or one of its Vice Presidents, under its corporate seal reproduced thereon, and attested by its Secretary or one of its Assistant Secretaries. The
signature of any of these officers on the Securities and coupons may be manual or facsimile signatures of the present or any future such authorized officer and may be imprinted or otherwise reproduced on the Securities. 

  
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 Securities and coupons bearing the manual or facsimile signatures of individuals who were at
any time the proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the
date of such Securities or coupons. 
 At any time and from time to time after the execution and delivery of this Indenture, the
Company may deliver Securities of any series, together with any coupon appertaining thereto, executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such Securities (accompanied
by a copy of the Board Resolution and the Officers’ Certificate or supplemental indenture contemplated by Section 301), and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities; provided,
however, that, in connection with its original issuance, no Bearer Security shall be mailed or otherwise delivered to any location in the United States; and provided further that, unless otherwise specified with respect to any
series of Securities pursuant to Section 301, a Bearer Security may be delivered in connection with its original issuance only if the Person entitled to receive such Bearer Security shall have furnished a certificate to Euroclear or
Clearstream, as the case may be, in the form set forth in Exhibit B-1 to this Indenture or such other certificate as may be specified by the Company with respect to any series of Securities pursuant to Section 301, dated no earlier than
15 days prior to the earlier of the date on which such Bearer Security is delivered and the date on which any temporary Security first becomes exchangeable for such Bearer Security in accordance with the terms of such temporary Security and this
Indenture. If any Security shall be represented by a permanent Global Security, then, for purposes of this Section and Section 304, 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 be delivery in connection with its original issuance of such beneficial owner’s interest in such permanent Global Security. Except as permitted by Section 306, the
Trustee shall not authenticate and deliver any Bearer Security unless all appurtenant coupons for interest then matured have been detached and canceled. 
 If all the Securities of any series are not to be issued at one time and if the Board Resolution or supplemental indenture establishing such series shall so permit, such Company Order may set forth
procedures acceptable to the Trustee for the issuance of such Securities and determining the terms of particular Securities of such series, such as interest rate or formula, maturity date, date of issuance and date from which interest shall accrue.
In authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to receive, and (subject to TIA Section 315(a) through 315(d)) shall be fully
protected in relying upon, 
 (i) an Opinion of Counsel stating that 

(a) the form or forms of such Securities and any coupons have been established in conformity with the provisions of this
Indenture; 

  
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 (b) the terms of such Securities and any coupons have been established in
conformity with the provisions of this Indenture; and 
 (c) such Securities, together with any coupons
appertaining thereto, when completed by appropriate insertions and executed and delivered by the Company to the Trustee for authentication in accordance with this Indenture, authenticated and delivered by the Trustee in accordance with this
Indenture and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute legal, valid and legally binding obligations of the Company, enforceable in accordance with their terms, subject to
applicable bankruptcy, insolvency, fraudulent transfer, reorganization and other similar laws of general applicability relating to or affecting the enforcement of creditors’ rights generally and to general equitable principles; and 

(ii) an Officers’ Certificate stating that all conditions precedent provided for in this Indenture relating to the
issuance of the Securities have been complied with and that, to the best of the knowledge of the signers of such certificate, that no Event of Default with respect to any of the Securities shall have occurred and be continuing. 

If such form or terms have been so established, the Trustee shall not be required to authenticate such Securities (or to enter into the
related supplemental indenture, if applicable) if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties, obligations or immunities under the Securities and this Indenture or otherwise in a manner
which is not reasonably acceptable to the Trustee. 
 Notwithstanding the provisions of Section 301 and of the preceding
paragraph, if all the Securities of any series are not to be issued at one time, it shall not be necessary to deliver an Officers’ Certificate otherwise required pursuant to Section 301 or a Company Order, or an Opinion of Counsel or an
Officers’ Certificate otherwise required pursuant to the preceding paragraph at the time of issuance of each Security of such series, but such order, opinion and certificates, with appropriate modifications to cover such future issuances, shall
be delivered at or before the time of issuance of the first Security of such series. 
 Each Registered Security shall be dated
the date of its authentication and each Bearer Security shall be dated as of the date specified as contemplated by Section 301. 
 No Security or coupon shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security or Security to which such coupon appertains a
certificate of authentication substantially in the form provided for herein duly executed by the Trustee (subject to Section 611) by manual signature of an authorized signatory, and such certificate upon any Security shall be conclusive
evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture. Notwithstanding the foregoing, if any Security (including a Global Security) shall have been
authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as 

  
 23 

 
provided in Section 309 together with a written statement (which need not comply with Section 102 and need not be accompanied by an Opinion of Counsel) stating that such Security has
never been issued and sold by the Company, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture. 

SECTION 304. Temporary Securities. 
 (a) Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall authenticate and deliver, temporary Securities which are printed,
lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued, in registered form, or, if authorized, in bearer form with one
or more coupons or without coupons, and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as conclusively evidenced by their execution of such Securities. In the
case of Securities of any series, such temporary Securities may be in global form. 
 Except in the case of temporary Global
Securities (which shall be exchanged as otherwise provided herein or as otherwise provided in or pursuant to a Board Resolution or supplemental indenture pursuant to Section 301), if temporary Securities of any series are issued, the Company
will cause definitive Securities of that series to be prepared without unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such
series upon surrender of the temporary Securities of such series at the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of
any series (accompanied by any non-matured coupons appertaining thereto), the Company shall execute (in accordance with a Company Order delivered at or prior to the authentication of the first definitive security to such series) and the Trustee
shall authenticate and deliver in exchange therefor a like principal amount of definitive Securities of the same series of authorized denominations; provided, however, that no definitive Bearer Security shall be delivered in exchange
for a temporary Registered Security; and provided further that a definitive Bearer Security shall be delivered in exchange for a temporary Bearer Security only in compliance with the conditions set forth in Section 303. Until so
exchanged, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of such series. 
 (b) Unless otherwise provided in or pursuant to a Board Resolution or supplemental indenture pursuant to Section 301, the following provisions of this Section 304(b) shall govern the exchange of
temporary Securities other than through the facilities of the DTC. If any such temporary Security is issued in global form, then such temporary Global Security shall, unless otherwise provided therein, be delivered to the London office of a
depository or common depository upon and pursuant to written direction of the Company (the “Common Depository”), for the benefit of Euroclear and Clearstream, for credit to the respective accounts of the beneficial owners of such
Securities (or to such other accounts as they may direct). 

  
 24 

 Without unnecessary delay but in any event not later than the date specified in, or
determined pursuant to the terms of, any such temporary Global Security (the “Exchange Date”), the Company shall deliver to the Trustee definitive Securities, in aggregate principal amount equal to the principal amount of such temporary
Global Security, executed by the Company. On or after the Exchange Date, such temporary Global Security shall be surrendered by the Common Depository to the Trustee, as the Company’s agent for such purpose, to be exchanged, in whole or from
time to time in part, for definitive Securities without charge, and the Trustee shall authenticate and deliver, in exchange for each portion of such temporary Global Security, an equal aggregate principal amount of definitive Securities of the same
series of authorized denominations and of like tenor as the portion of such temporary Global Security to be exchanged. The definitive Securities to be delivered in exchange for any such temporary Global Security shall be in bearer form, registered
form, permanent global bearer form or permanent global registered form, or any combination thereof, as specified as contemplated by Section 301, and, if any combination thereof is so specified, as requested by the beneficial owner thereof (as
directed by or pursuant to information provided by the Common Depository); provided, however, that, unless otherwise specified in such temporary Global Security, upon such presentation by the Common Depository, such temporary Global
Security shall be accompanied by a certificate dated the Exchange Date or a subsequent date and signed by Euroclear as to the portion of such temporary Global Security held for its account then to be exchanged and a certificate dated the Exchange
Date or a subsequent date and signed by Clearstream as to the portion of such temporary Global Security held for its account then to be exchanged, each in the form set forth in Exhibit B-2 to this Indenture or in such other form as may be
established pursuant to Section 301; and provided further that definitive Bearer Securities shall be delivered in exchange for a portion of a temporary Global Security only in compliance with the requirements of Section 303.

 Unless otherwise specified in such temporary Global Security, the interest of a beneficial owner of Securities of a series in
a temporary Global Security shall be exchanged for definitive Securities of the same series and of like tenor following the Exchange Date when the account holder instructs Euroclear or Clearstream, as the case may be, to request such exchange on his
behalf and delivers to Euroclear or Clearstream, as the case may be, a certificate in the form set forth in Exhibit B-1 to this Indenture (or in such other form as may be established pursuant to Section 301), dated no earlier than 15
days prior to the Exchange Date, copies of which certificate shall be available from the offices of Euroclear and Clearstream, the Trustee, any Authenticating Agent appointed for such series of Securities and each Paying Agent. Unless otherwise
specified in such temporary Global Security, any such exchange shall be made free of charge to the beneficial owners of such temporary Global Security, except that a Person receiving definitive Securities must bear the cost of insurance, postage,
transportation and the like unless such Person takes delivery of such definitive Securities in person at the offices of Euroclear or Clearstream. Definitive Securities in bearer form to be delivered in exchange for any portion of a temporary Global
Security shall be delivered only to an address located outside the United States. 
 Until exchanged in full as hereinabove
provided, the temporary Securities of any series shall in all respects be entitled to the same benefits under this Indenture as definitive Securities of the same series and of like tenor authenticated and delivered hereunder, except that, unless
otherwise specified as contemplated by Section 301, interest payable on a temporary Global 

  
 25 

 
Security on an Interest Payment Date for Securities of such series occurring prior to the applicable Exchange Date shall be payable to Euroclear and Clearstream on such Interest Payment Date upon
delivery by Euroclear and Clearstream to the Trustee of a certificate or certificates in the form set forth in Exhibit B-2 to this Indenture (or in such other forms as may be established pursuant to Section 301), for credit without
further interest on or after such Interest Payment Date to the respective accounts of Persons who are the beneficial owners of such temporary Global Security on such Interest Payment Date and who have each delivered to Euroclear or Clearstream, as
the case may be, a certificate dated no earlier than 15 days prior to the Interest Payment Date occurring prior to such Exchange Date in the form set forth as Exhibit B-1 to this Indenture (or in such other forms as may be established
pursuant to Section 301). Notwithstanding anything to the contrary herein contained, the certifications made pursuant to this paragraph shall satisfy the certification requirements of the preceding two paragraphs of this Section 304(b) and
of the third paragraph of Section 303 of this Indenture and the interests of the Persons who are the beneficial owners of the temporary Global Security with respect to which such certification was made will be exchanged for definitive
Securities of the same series and of like tenor on the Exchange Date or the date of certification if such date occurs after the Exchange Date, without further act or deed by such beneficial owners. Except as otherwise provided in this paragraph, no
payments of principal or interest owing with respect to a beneficial interest in a temporary Global Security will be made unless and until such interest in such temporary Global Security shall have been exchanged for an interest in a definitive
Security. Any interest so received by Euroclear and Clearstream and not paid as herein provided shall be returned to the Trustee prior to the expiration of two years after such Interest Payment Date in order to be repaid to the Company. 

With respect to Exhibit B-1 or B-2 to this Indenture, the Company may, in its discretion and if required or desirable under applicable
law, substitute one or more other forms of such exhibits for such exhibits, eliminate the requirement that any or all certificate be provided, or change the time that any certificate may be required, provided that such substitute form
or forms or notice of elimination or change of such certification requirement have theretofore been delivered to the Trustee with a Company Request and such form or forms, elimination or change is reasonably acceptable to the Trustee. 

SECTION 305. Registration, Registration of Transfer, Conversion and Exchange. The Company shall cause to be kept at the Corporate
Trust Office of the Trustee or in any office or agency of the Company in a Place of Payment a register for each series of Securities (the registers maintained in such office or in any such office or agency of the Company in a Place of Payment being
herein sometimes referred to collectively as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company shall provide for the registration of Registered Securities and of transfers of
Registered Securities. The Security Register shall be in written form or any other form capable of being converted into written form within a reasonable time. The Trustee, at its Corporate Trust Office, is hereby initially appointed “Security
Registrar” for the purpose of registering Registered Securities and transfers of Registered Securities on such Security Register as herein provided. In the event that the Trustee shall cease to be Security Registrar, it shall have the right to
examine, and be provided a copy of, the Security Register at all reasonable times. 

  
 26 

 Subject to the provisions of this Section 305, upon surrender for registration of
transfer of any Registered Security of any series at any office or agency of the Company in a Place of Payment for that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Registered Securities of the same series, of any authorized denominations and of a like aggregate principal amount, bearing a number not contemporaneously outstanding, and containing identical terms and provisions.

 Subject to the provisions of this Section 305, at the option of the Holder, Registered Securities of any series may be
exchanged for other Registered Securities of the same series, of any authorized denomination or denominations and of a like aggregate principal amount, containing identical terms and provisions, upon surrender of the Registered Securities to be
exchanged at any such office or agency. Whenever any such Registered Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Registered Securities which the Holder making the
exchange is entitled to receive. Unless otherwise specified with respect to any series of Securities as contemplated by Section 301, Bearer Securities may not be issued in exchange for Registered Securities. 

If (but only if) permitted by the applicable Board Resolution and (subject to Section 303) set forth in the applicable
Officers’ Certificate, or in any indenture supplemental hereto, delivered as contemplated by Section 301, at the option of the Holder, Bearer Securities of any series may be exchanged for Registered Securities of the same series of any
authorized denominations and of a like aggregate principal amount and tenor, upon surrender of the Bearer Securities to be exchanged at any such office or agency, with all unmatured coupons and all matured coupons in default thereto appertaining. If
the Holder of a Bearer Security is unable to produce any such unmatured coupon or coupons or matured coupon or coupons in default, any such permitted exchange may be effected if the Bearer Securities are accompanied by payment in funds acceptable to
the Company (or to the Trustee for the Security in case of matured coupons in default) in an amount equal to the face amount of such missing coupon or coupons, or the surrender of such missing coupon or coupons may be waived by the Company and the
Trustee if there is furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to any Paying Agent any such missing coupon in respect
of which such a payment shall have been made, such Holder shall be entitled to receive the amount of such payment; provided, however, that, except as otherwise provided in Section 1002, interest represented by coupons shall be
payable only upon presentation and surrender of those coupons at an office or agency located outside the United States. Notwithstanding the foregoing, in case a Bearer Security of any series is surrendered at any such office or agency in a permitted
exchange for a Registered Security of the same series and like tenor after the close of business at such office or agency on (i) any Regular Record Date and before the opening of business at such office or agency on the relevant Interest
Payment Date, or (ii) any Special Record Date and before the opening of business at such office or agency on the related proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to
such Interest Payment Date or proposed date for payment, as the case may be, and interest or Defaulted Interest, as the case may be, will not be payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of
the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance with the provisions of this Indenture. Whenever any Securities are so surrendered for exchange, the
Company shall execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 

  
 27 

 Notwithstanding the foregoing, except as otherwise specified as contemplated by
Section 301, any permanent Global Security shall be exchangeable only as provided in this paragraph. If the depository for any permanent Global Security is DTC, then, unless the terms of such Global Security expressly permit such Global
Security to be exchanged in whole or in part for definitive Securities, a Global Security may be transferred, in whole but not in part, only to a nominee of DTC, or by a nominee of DTC to DTC, or to a successor to DTC for such Global Security
selected or approved by the Company or to a nominee of such successor to DTC. If at any time DTC notifies the Company that it is unwilling or unable to continue as depository for the applicable Global Security or Securities or if at any time DTC
ceases to be a clearing agency registered under the Exchange Act if so required by applicable law or regulation, the Company shall appoint a successor depository with respect to such Global Security or Securities. If (w) a successor depository
for such Global Security or Securities is not appointed by the Company within 90 days after the Company receives such notice or becomes aware of such unwillingness, inability or ineligibility, (x) the Company delivers to the Trustee for
Securities of such series in registered form a Company Order stating that the Securities of such series shall be exchangeable, (y) an Event of Default has occurred and is continuing and the beneficial owners representing a majority in principal
amount of the applicable series of Securities represented by such Global Security or Securities advise DTC to cease acting as depository for such Global Security or Securities or (z) the Company, in its sole discretion, determines at any time
that all Outstanding Securities (but not less than all) of any series issued or issuable in the form of one or more Global Securities shall no longer be represented by such Global Security or Securities, then the Company shall execute, and the
Trustee shall authenticate and deliver definitive Securities of like series, rank, tenor and terms in definitive form in an aggregate principal amount equal to the principal amount of such Global Security or Securities. If any beneficial owner of an
interest in a permanent global Security is otherwise entitled to exchange such interest for Securities of such series and of like tenor and principal amount of another authorized form and denomination, as specified as contemplated by
Section 301 and provided that any applicable notice provided in the permanent Global Security shall have been given, then without unnecessary delay but in any event not later than the earliest date on which such interest may be so exchanged,
the Company shall execute, and the Trustee shall authenticate and deliver definitive Securities in aggregate principal amount equal to the principal amount of such beneficial owner’s interest in such permanent Global Security. On or after the
earliest date on which such interests may be so exchanged, such permanent Global Security shall be surrendered for exchange by DTC or such other depository as shall be specified in the Company Order with respect thereto to the Trustee, as the
Company’s agent for such purpose; provided, however, that no such exchanges may occur during a period beginning at the opening of business 15 days before any selection of Securities to be redeemed and ending on the relevant
Redemption Date if the Security for which exchange is requested may be among those selected for redemption; and provided further that no Bearer Security delivered in exchange for a portion of a permanent Global Security shall be mailed
or otherwise delivered to any location in the United States. If a Registered Security is issued in exchange for any portion of a permanent Global Security after the close of business at the office or agency where such exchange occurs on (i) any
Regular Record Date and before the opening of business at such office or agency on the relevant Interest Payment Date, or (ii) any Special 

  
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Record Date and the opening of business at such office or agency on the related proposed date for payment of Defaulted Interest, interest or Defaulted Interest, as the case may be, will not be
payable on such Interest Payment Date or proposed date for payment, as the case may be, in respect of such Registered Security, but will be payable on such Interest Payment Date or proposed date for payment, as the case may be, only to the Person to
whom interest in respect of such portion of such permanent Global Security is payable in accordance with the provisions of this Indenture. 
 All Securities issued upon any registration of transfer or conversion or exchange of Securities shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits
under this Indenture, as the Securities surrendered upon such registration of transfer or conversion or exchange. 
 Every
Registered Security presented or surrendered for registration of transfer or for conversion, exchange or redemption shall (if so required by the Company or the Security Registrar) be duly endorsed, or be accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar, duly executed by the Holder thereof or his attorney duly authorized in writing. 
 No service charge shall be made to the Holder for any registration of transfer or conversion or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of transfer or conversion or exchange of Securities, other than exchanges pursuant to Section 304, 906, 1107 or 1305 not involving any transfer. 

The Company or the Trustee, as applicable, shall not be required (i) to issue, register the transfer of or exchange any Security if
such Security may be among those selected for redemption during a period beginning at the opening of business 15 days before selection of the Securities to be redeemed under Section 1103 and ending at the close of business on (A) if such
Securities are issuable only as Registered Securities, the day of the mailing of the relevant notice of redemption and (B) if such Securities are issuable as Bearer Securities, the day of the first publication of the relevant notice of
redemption or, if such Securities are also issuable as Registered Securities and there is no publication, the mailing of the relevant notice of redemption, or (ii) to register the transfer of or exchange any Registered Security so selected for
redemption in whole or in part, except, in the case of any Registered Security to be redeemed in part, the portion thereof not to be redeemed, or (iii) to exchange any Bearer Security so selected for redemption except that such a Bearer
Security may be exchanged for a Registered Security of that series and like tenor, provided that such Registered Security shall be simultaneously surrendered for redemption, or (iv) to issue, register the transfer of or exchange any
Security which has been surrendered for repayment at the option of the Holder, except the portion, if any, of such Security not to be so repaid. 
 Furthermore, notwithstanding any other provision of this Section 305, the Company will not be required to exchange any Securities if, as a result of the exchange, the Company would suffer adverse
consequences under any United States law or regulation. 

  
 29 

 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities. If any mutilated
Security or a Security with a mutilated coupon appertaining to it is surrendered to the Trustee or the Company, together with, in proper cases, such security or indemnity as may be required by the Company or the Trustee to save each of them or any
agent of either of them harmless, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a new Security of the same series and principal amount, containing identical terms and provisions and bearing a number
not contemporaneously outstanding, with coupons corresponding to the coupons, if any, appertaining to the surrendered Security. 

If there shall be delivered to the Company and to the Trustee (i) evidence to their satisfaction of the destruction, loss or theft
of any Security or coupon, and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security or coupon
has been acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate and deliver, in lieu of any such destroyed, lost or stolen Security or in exchange for the Security to which a destroyed, lost
or stolen coupon appertains (with all appurtenant coupons not destroyed, lost or stolen), a new Security of the same series and principal amount, containing identical terms and provisions and bearing a number not contemporaneously outstanding, with
coupons corresponding to the coupons, if any, appertaining to such destroyed, lost or stolen Security or to the Security to which such destroyed, lost or stolen coupon appertains. 

Notwithstanding the provisions of the previous two paragraphs, in case any such mutilated, destroyed, lost or stolen Security or coupon
has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, with coupons corresponding to the coupons, if any, appertaining to such destroyed, lost or stolen Security or to the Security to
which such destroyed, lost or stolen coupon appertains, pay such Security or coupon if the applicant for such payment shall furnish to the Company and the Trustee for such Security such security or indemnity as may be required by them to save each
of them harmless, and in the case of destruction, loss or theft, evidence satisfactory to the Company and Trustee and any agent of any of them of the destruction, loss or theft of such Security and the ownership thereof; provided,
however, that payment of principal of (and premium or Make-Whole Amount, if any), and interest, if any, on, Bearer Securities shall, except as otherwise provided in Section 1002, be payable only at an office or agency located outside the
United States and, unless otherwise specified as contemplated by Section 301, any interest on Bearer Securities shall be payable only upon presentation and surrender of the coupons appertaining thereto. 

Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith. 
 Every new Security of any series with its coupons, if any, issued pursuant to this Section in lieu of any destroyed, lost or stolen Security, or in exchange for a Security to which a destroyed, lost or
stolen coupon appertains, shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security and its coupons, if any, or the destroyed, lost or stolen coupon shall be at any time
enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series and their coupons, if any, duly issued hereunder. 

  
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 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities or coupons. 
 SECTION 307. Payment of Interest; Interest Rights Preserved. Except as otherwise specified with respect to a series of Securities in accordance with the provisions of Section 301, interest on
any Registered Security that is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business
on the Regular Record Date for such interest payment at the office or agency of the Company maintained for such purpose pursuant to Section 1002; provided, however, that each installment of interest on any Registered Security may
at the Company’s option be paid by (i) mailing a check for such interest, payable to or upon the written order of the Person entitled thereto pursuant to Section 308, to the address of such Person as it appears on the Security
Register or (ii) transfer to an account maintained by the payee located inside the United States. 
 Unless otherwise
provided as contemplated by Section 301 with respect to the Securities of any series, payment of interest may be made, in the case of a Bearer Security, by transfer to an account maintained by the payee with a bank located outside the United
States. 
 Unless otherwise provided as contemplated by Section 301, every permanent Global Security will provide that
interest, if any, payable on any Interest Payment Date will be paid to DTC, Euroclear and/or Clearstream, as the case may be, with respect to that portion of such permanent Global Security held for its account by Cede & Co. or the Common
Depository, as the case may be, for the purpose of permitting such party to credit the interest received by it in respect of such permanent Global Security to the accounts of the beneficial owners thereof. 

In case a Bearer Security of any series is surrendered in exchange for a Registered Security of such series after the close of business
(at an office or agency in a Place of Payment for such series) on any Regular Record Date and before the opening of business (at such office or agency) on the next succeeding Interest Payment Date, such Bearer Security shall be surrendered without
the coupon relating to such Interest Payment Date and interest will not be payable on such Interest Payment Date in respect of the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon
when due in accordance with the provisions of this Indenture. 

  
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 Except as otherwise specified with respect to a series of Securities in accordance with the
provisions of Section 301, any interest on any Registered Security of any series that is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease
to be payable to the registered Holder thereof on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in clause (1) or
(2) below: 
 (1) The Company may elect to make payment of any Defaulted Interest to the Persons in whose
names the Registered Securities of such series (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner.
The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Registered Security of such series and the date of the proposed payment (which shall not be less than 20 days after such notice is
received by the Trustee), and at the same time the Company shall deposit with the Trustee an amount of money in the currency or currencies, currency unit or units or composite currency or currencies in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 301 for the Securities of such series) equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such
deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this clause provided. Thereupon the Trustee shall fix a Special Record
Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed
payment. The 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 Holder of Registered Securities of such series at his address as it appears in the Security Register not less than 10 days prior to such Special Record Date. The Trustee may, in its discretion, in the
name and at the expense of the Company, cause a similar notice to be published at least once in an Authorized Newspaper in each Place of Payment, but such publications shall not be a condition precedent to the establishment of such Special Record
Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been mailed as aforesaid, such Defaulted Interest shall be paid to the Persons in whose names the Registered Securities of such series (or
their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following clause (2). In case a Bearer Security of any series is surrendered at the office or
agency in a Place of Payment for such series in exchange for a Registered Security of such series after the close of business at such office or agency on any Special Record Date and before the opening of business at such office or agency on the
related proposed date for payment of Defaulted Interest, such Bearer Security shall be surrendered without the coupon relating to such proposed date of payment and Defaulted Interest will not be payable on such proposed date of payment in respect of
the Registered Security issued in exchange for such Bearer Security, but will be payable only to the Holder of such coupon when due in accordance with the provisions of this Indenture. 

(2) The Company may make payment of any Defaulted Interest on the Registered Securities of any series in any other lawful
manner not inconsistent with the requirements of any over-the-counter market or securities exchange on which such Securities may be quoted or listed, and upon such notice as may be required by such market or 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. 

  
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 Subject to the foregoing provisions of this Section and Section 305, each Security
delivered under this Indenture upon registration of transfer of or upon conversion of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other
Security. 
 SECTION 308. Persons Deemed Owners. Prior to due presentment of a Registered 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 such Registered Security is registered as the owner of such Security for the purpose of receiving payment of principal of (and premium
or Make-Whole Amount, if any), and (subject to Sections 305 and 307) interest on, such Registered Security and for all other purposes whatsoever, whether or not such Registered Security be overdue, and neither the Company, the Trustee nor any agent
of the Company or the Trustee shall be affected by notice to the contrary. All such payments so made to any such Person, or upon such Person’s order, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and
discharge the liability for money payable upon any such Security. 
 Title to any Bearer Security and any coupons appertaining
thereto shall pass by delivery. The Company, the Trustee and any agent of the Company or the Trustee may treat the Holder of any Bearer Security and the Holder of any coupon as the absolute owner of such Security or coupon for the purpose of
receiving payment thereof or on account thereof and for all other purposes whatsoever, whether or not such Security or coupon be overdue, and neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to
the contrary. 
 No holder of any beneficial interest in any Global Security held on its behalf by a depository shall have any
rights under this Indenture with respect to such Global Security and such depository (which is the Holder of such security) shall be treated by the Company, the Trustee, and any agent of the Company or the Trustee as the owner of such Global
Security for all purposes whatsoever. None of the Company, the Trustee, any Paying Agent or the Security Registrar will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial
ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 
 Notwithstanding the foregoing, with respect to any Global Security, nothing herein shall prevent the Company, the Trustee, or any agent of the Company or the Trustee, from giving effect to any written
certification, proxy or other authorization furnished by any depository, as a Holder, with respect to such Global Security or impair, as between such depository and owners of beneficial interests in such Global Security, the operation of customary
practices governing the exercise of the rights of such depository (or its nominee) as Holder of such Global Security. 
 SECTION
309. Cancellation. All Securities and coupons surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer or conversion or exchange or for credit against any sinking fund payment shall, if surrendered
to any Person other than the Trustee, be delivered to the Trustee, and any such Securities and coupons and Securities and coupons surrendered directly to the Trustee for any such purpose, upon direction by the 

  
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Company, shall be promptly cancelled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company
may have acquired in any manner whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued and sold, and all
Securities so delivered shall be promptly cancelled by the Trustee. If the Company shall so 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 surrendered to the Trustee for cancellation. No Securities shall be authenticated in lieu of or in exchange for any Securities cancelled as provided in this Section, except as expressly permitted by this Indenture.
Cancelled Securities and coupons held by the Trustee shall be disposed of by the Trustee in accordance with its customary practices (subject to the record retention requirements of the Exchange Act). 

SECTION 310. Computation of Interest. Except as otherwise specified as contemplated by Section 301 with respect to Securities
of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 
 SECTION 311. CUSIP Numbers. The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in
notices of redemption as a convenience to Holders; provided, however, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice
of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company will promptly notify the
Trustee of any change in the “CUSIP” numbers. 
 ARTICLE FOUR - SATISFACTION AND DISCHARGE 

SECTION 401. Satisfaction and Discharge of Indenture. This Indenture shall upon Company Request cease to be of further effect with
respect to any series of Securities specified in such Company Request (except as to any surviving rights of registration of transfer or conversion or exchange of Securities of such series herein expressly provided for), and the Trustee, upon receipt
of a Company Order, and at the expense of the Company, shall execute instruments in form and substance satisfactory to the Trustee and the Company acknowledging satisfaction and discharge of this Indenture as to such series when 

(1) either 
 (A) all Securities of such series theretofore authenticated and delivered and all coupons, if any, appertaining thereto (other than (i) coupons appertaining to Bearer Securities surrendered for
exchange for Registered Securities and maturing after such exchange, whose surrender is not required or has been waived as provided in Section 305, (ii) Securities and coupons of such series which have been destroyed, lost or stolen and
which have been replaced or paid as provided in Section 306, (iii) coupons appertaining to Securities called for redemption and maturing after the relevant Redemption Date, whose surrender has been waived as provided in Section 1106,
and (iv) Securities and coupons of such series for 

  
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whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in
Section 1003) have been delivered to the Trustee for cancellation; or 
 (B) all Securities of such series
and, in the case of (i) or (ii) below, any coupons appertaining thereto not theretofore delivered to the Trustee for cancellation 
 (i) have become due and payable, or 
 (ii) will become due and
payable at their Stated Maturity within one year, or 
 (iii) if redeemable at the option of the Company, are to
be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the case of (i), (ii) or (iii) above, has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose an amount in the currency
or currencies, currency unit or units or composite currency or currencies in which the Securities of such series are payable, sufficient to pay and discharge the entire indebtedness on such Securities and such coupons not theretofore delivered to
the Trustee for cancellation, for principal (and premium or Make-Whole Amount, if any) and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case
may be; 
 (2) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and

 (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture as to such series have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee and any predecessor Trustee under Section 606, the obligations of the Company to any
Authenticating Agent under Section 611 and, if money shall have been deposited with and held by the Trustee pursuant to subclause (B) of clause (1) of this Section, the obligations of the Trustee under Section 402 and the last
paragraph of Section 1003 shall survive such satisfaction and discharge. 
 SECTION 402. Application of Trust Funds.
Subject to the provisions of the last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the provisions of the Securities, the coupons and
this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium or Make-Whole Amount, if
any), and any interest for whose payment such money has been deposited with or received by the Trustee, but such money need not be segregated from other funds except to the extent required by law. 

  
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 ARTICLE FIVE - REMEDIES 

SECTION 501. Events of Default. “Event of Default,” wherever used herein with respect to any particular series of
Securities, means any one of the following events (whatever the reason for such Event of Default and whether or not it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or
any order, rule or regulation of any administrative or governmental body): 
 (1) default in the payment of any
interest on any Security of that series or of any coupon appertaining thereto, when such interest or coupon becomes due and payable, and continuance of such default for a period of 30 days; or 

(2) default in the payment of the principal of (or premium or Make-Whole Amount, if any, on) any Security of that series
when it becomes due and payable at its Maturity; or 
 (3) default in the deposit of any sinking fund payment, to
the extent applicable to such series of Securities, when and as due by the terms of any Security of that series; or 
 (4) default in the performance, or breach, of any covenant or warranty of the Company in this Indenture with respect to any Security of that series (other than a covenant or warranty a default in whose
performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of a series of Securities other than that series), and continuance of such default or
breach for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of that
series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice of Default” hereunder; or 

(5) default under any bond, debenture, note, mortgage, indenture or instrument under which there may be issued or by which
there may be secured or evidenced any indebtedness for money borrowed by the Company (or by any Subsidiary, the repayment of which the Company has guaranteed or for which the Company is directly responsible or liable as obligor or guarantor), having
an aggregate principal amount outstanding of at least $30,000,000, whether such indebtedness now exists or shall hereafter be created, which default shall have resulted in such indebtedness becoming or being declared due and payable prior to the
date on which it would otherwise have become due and payable, without such indebtedness having been discharged, or such acceleration having been rescinded or annulled, within a period of 30 days after there shall have been given, by registered or
certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 10% in principal amount of the Outstanding Securities of that series a written notice specifying such default and requiring the Company to
cause such indebtedness to be discharged or cause such acceleration to be rescinded or annulled and stating that such notice is a “Notice of 

  
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Default” hereunder; provided, however, that, subject to the provisions of Sections 601 and 602, the Trustee shall not be deemed to have knowledge of such default unless
either (A) a Responsible Officer of the Trustee shall have knowledge of such default or (B) the Trustee shall have received written notice thereof from the Company, from any Holder, from the holder of any such indebtedness or from the
trustee under any such mortgage, indenture or other instrument; or 
 (6) the Company or any Significant
Subsidiary pursuant to or within the meaning of any Bankruptcy Law: 
 (A) commences a voluntary case,

 (B) consents to the entry of an order for relief against it in an involuntary case, 

(C) consents to the appointment of a Custodian of it or for all or substantially all of its property, or 

(D) makes a general assignment for the benefit of its creditors; or 

(7) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(A) is for relief against the Company or any Significant Subsidiary in an involuntary case, 

(B) appoints a Custodian of the Company or any Significant Subsidiary or for all or substantially all of either of its
property, or 
 (C) orders the liquidation of the Company or any Significant Subsidiary, and the order or decree
remains unstayed and in effect for 90 days; or 
 (8) any other Event of Default provided with respect to
Securities of that series. 
 As used in this Section 501, the term “Bankruptcy Law” means title 11, U.S. Code or
any similar Federal or state law for the relief of debtors and the term “Custodian” means any receiver, trustee, assignee, liquidator or other similar official under any Bankruptcy Law. 

SECTION 502. Acceleration of Maturity; Rescission and Annulment. If an Event of Default with respect to Securities of any series
at the time Outstanding occurs and is continuing, then and in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if Securities of
that Series are Original Issue Discount Securities or Indexed Securities, such portion of the principal as may be specified in the terms thereof) of all the Securities of that series to be due and payable immediately, by a notice in writing to the
Company (and to the Trustee if given by the Holders), and upon any such declaration such principal or specified portion thereof shall become immediately due and payable. 

  
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 At any time after such a declaration of acceleration with respect to Securities of any
series has been made and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series,
by written notice to the Company and the Trustee, may rescind and annul such declaration of acceleration and its consequences if: 
 (1) the Company has paid or deposited with the Trustee a sum sufficient to pay in the currency, currency unit or composite currency in which the Securities of such series are payable (except as otherwise
specified pursuant to Section 301 for the Securities of such series): 
 (A) all overdue installments of
interest on all Outstanding Securities of that series and any related coupons, 
 (B) the principal of (and
premium or Make-Whole Amount, if any, on) any Outstanding Securities of that series which have become due otherwise than by such declaration of acceleration and interest thereon at the rate or rates borne by or provided for in such Securities,

 (C) to the extent that payment of such interest is lawful, interest upon overdue installments of interest at
the rate or rates borne by or provided for in such Securities, and 
 (D) all sums paid or advanced by the
Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel; and 
 (2) all Events of Default with respect to Securities of that series, other than the nonpayment of the principal of (or premium or Make-Whole Amount, if any) or interest on Securities of that series which
have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. 
 No such rescission
shall affect any subsequent default or impair any right consequent thereon. 
 SECTION 503. Collection of Indebtedness and
Suits for Enforcement by Trustee. The Company covenants that if: 
 (1) default is made in the payment of any
installment of interest on any Security of any series and any related coupon when such interest becomes due and payable and such default continues for a period of 30 days, or 

(2) default is made in the payment of the principal of (or premium or Make-Whole Amount, if any, on) any Security of any
series at its Maturity, 
 then the Company will, upon demand of the Trustee, pay to the Trustee, for the benefit of the Holders of such
Securities of such series and coupons, the whole amount then due and payable on such Securities and coupons for principal (and premium or Make-Whole Amount, if any) and interest, with interest upon any overdue principal (and premium or Make-Whole
Amount, if any) and, to the extent that payment of such interest shall be legally enforceable, upon any overdue installments of interest at the rate or rates borne by or provided for in such Securities, and, in addition thereto, such further amount
as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 

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

 If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee may in its discretion
proceed to protect and enforce its rights and the rights of the Holders of Securities of such series and any related coupons by such appropriate judicial proceedings as the Trustee shall deem necessary to protect and enforce any such rights, whether
for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 SECTION 504. Trustee May File Proofs of Claim. In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment, composition or other
judicial proceeding relative to the Company or any other obligor upon the Securities or the property of the Company or of such other obligor or their creditors, the Trustee (irrespective of whether the principal of the Securities of any series shall
then be due and payable as therein expressed or by declaration or otherwise and irrespective of whether the Trustee shall have made any demand on the Company for the payment of overdue principal, premium or Make-Whole Amount, if any, or interest)
shall be entitled and empowered, by intervention in such proceeding or otherwise: 
 (i) to file and prove a
claim for the whole amount, or such lesser amount as may be provided for in the Securities of such series, of principal (and premium or Make-Whole Amount, if any) and interest owing and unpaid in respect of the Securities and to file such other
papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel) and of the Holders
allowed in such judicial proceeding, and 
 (ii) to collect and receive any moneys or other property payable or
deliverable on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator (or other
similar official) in any such judicial proceeding is hereby authorized by each Holder of Securities of such series and coupons to make such payments to the Trustee, and in the event that the Trustee shall consent to the making of such payments
directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee and any predecessor Trustee, their agents and counsel, and any other amounts due the Trustee or
any predecessor Trustee under Section 606. 

  
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 Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to
or accept or adopt on behalf of any Holder of a Security or coupon any plan of reorganization, arrangement, adjustment or composition affecting the Securities or coupons or the rights of any Holder thereof, or to authorize the Trustee to vote in
respect of the claim of any Holder of a Security or coupon in any such proceeding. 
 In any proceedings brought by the Trustee
(and also any proceedings involving the interpretation of any provision of this Indenture to which the Trustee shall be a party) the Trustee shall be held to represent all the Holders of the Securities, and it shall not be necessary to make any
Holders of the Securities parties to any such proceedings. 
 SECTION 505. Trustee May Enforce Claims Without Possession of
Securities or Coupons. All rights of action and claims under this Indenture or any of the Securities or coupons may be prosecuted and enforced by the Trustee without the possession of any of the Securities or coupons or the production thereof in
any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after provision for the payment of the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities and coupons in respect of which such judgment has been recovered. 

SECTION 506. Application of Money Collected. Any money collected by the Trustee pursuant to this Article shall be applied in the
following order, at the date or dates fixed by the Trustee and, in case of the distribution of such money on account of principal (or premium or Make-Whole Amount, if any) or interest, upon presentation of the Securities or coupons, or both, as the
case may be, and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid: 
 FIRST:
To the payment of all amounts due the Trustee and any predecessor Trustee under Section 606; 
 SECOND: To the payment of
the amounts then due and unpaid upon the Securities and coupons for principal (and premium or Make-Whole Amount, 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 aggregate amounts due and payable on such Securities and coupons for principal (and premium or Make-Whole Amount, if any) and interest, respectively; and 

THIRD: To the payment of the remainder, if any, to the Company. 
 SECTION 507. Limitation on Suits. No Holder of any Security of any series or any related coupon shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless: 
 (1)
such Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that series; 

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

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

it being understood and intended that no one or more of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any
provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this Indenture, except in the
manner herein provided and for the equal and ratable benefit of all such Holders. 
 SECTION 508. Unconditional Right of
Holders to Receive Principal, Premium or Make-Whole Amount, if any, and Interest. Notwithstanding any other provision in this Indenture, the Holder of any Security or coupon shall have the right which is absolute and unconditional to receive
payment of the principal of (and premium or Make-Whole Amount, if any) and (subject to Sections 305 and 307) interest on such Security or payment of such coupon on the respective due dates expressed in such Security or coupon (or, in the case of
redemption, on the Redemption Date) and to institute suit for the enforcement of any such payment, and such rights shall not be impaired without the consent of such Holder. 
 SECTION 509. Restoration of Rights and Remedies. If the Trustee or any Holder of a Security or coupon has instituted any proceeding to enforce any right or remedy under this Indenture and such
proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, the Company, the Trustee and the Holders of Securities and coupons shall, subject to any
determination in such proceeding, be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

 SECTION 510. Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment
of mutilated, destroyed, lost or stolen Securities or coupons in the last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders of Securities or coupons is intended to be exclusive of
any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion
or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other appropriate right or remedy. 

  
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 SECTION 511. Delay or Omission Not Waiver. No delay or omission of the Trustee or of
any Holder of any Security or coupon to exercise any right or remedy accruing upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy
given by this Article or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders of Securities or coupons, as the case may be. 

SECTION 512. Control by Holders of Securities. The Holders of not less than a majority in principal amount of the Outstanding
Securities of any series shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee with respect to the Securities of such
series, provided that: 
 (1) such direction shall not be in conflict with any rule of law or with this
Indenture, 
 (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent
with such direction, and 
 (3) the Trustee need not take any action which might involve it in personal liability
or be unduly prejudicial to the Holders of Securities of such series not joining therein. 
 Nothing in this Indenture shall
impair the right of the Trustee in its discretion to take any action deemed proper by the Trustee and which is not inconsistent with such direction by Holders. 
 SECTION 513. Waiver of Past Defaults. The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of
such series and any related coupons waive any past default hereunder with respect to such series and its consequences, except a default 
 (1) in the payment of the principal of (or premium or Make-Whole Amount, if any) or interest on any Security of such series or any related coupons, or 

(2) in respect of a covenant or provision hereof which under Article Nine cannot be modified or amended without the
consent of the Holder of each Outstanding Security of such series affected; or 
 (3) in respect of a covenant or
provision hereof for the benefit or protection of the Trustee, without its express written consent. 
 Upon any such waiver,
such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or Event of Default or impair
any right consequent thereon. 

  
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 SECTION 514. Waiver of Usury, Stay or Extension Laws. The Company covenants (to the
extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force,
which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede
the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
 SECTION 515. Undertaking for Costs. All parties to this Indenture agree, and each Holder of any Security by his acceptance thereof shall be deemed to have agreed, that any court may in its
discretion require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to
pay the costs of such suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit having 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 Holder, or group of Holders, holding in the aggregate more than 10% in principal
amount of the Outstanding Securities of any series, or to any suit instituted by any Holder for the enforcement of the payment of the principal of (or premium or Make-Whole Amount, if any) or interest on any Security on or after the respective
Stated Maturities expressed in such Security (or, in the case of redemption, on or after the Redemption Date). 
 ARTICLE SIX -
THE TRUSTEE 
 SECTION 601. Notice of Defaults. Within 90 days after the occurrence of any default hereunder with respect
to the Securities of any series, the Trustee shall transmit in the manner and to the extent provided in TIA Section 313(c), notice of such default hereunder known to the Trustee, unless such default shall have been cured or waived;
provided, however, that, except in the case of a default in the payment of the principal of (or premium or Make-Whole Amount, if any) or interest on any Security of such series, or in the payment of any sinking or purchase fund
installment with respect to the Securities of such series, the Trustee shall be protected in withholding such notice if and so long as the board of directors, the executive committee, or a trust committee of directors and/or 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 and coupons of such series; and provided further that in the case of any default or breach of the character
specified in Section 501(4) with respect to the Securities and coupons of such series, no such notice to Holders shall be given until at least 60 days after the occurrence thereof. For the purpose of this Section, the term “default”
means any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to the Securities of such series. 

  
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 SECTION 602. Certain Rights of Trustee. Subject to the provisions of TIA
Section 315(a) through 315(d): 
 (1) the Trustee may conclusively rely and shall be fully protected in
acting or refraining from acting upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or document (whether in its original or facsimile
form) reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties; 
 (2) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or Company Order (other than delivery of any Security, together with any coupons
appertaining thereto, to the Trustee for authentication and delivery pursuant to Section 303 which shall be sufficiently evidenced as provided therein) and any resolution of the Board of Directors may be sufficiently evidenced by a Board
Resolution; 
 (3) whenever in the administration of this Indenture the Trustee shall deem it desirable that a
matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officers’ Certificate;

 (4) the Trustee may consult with counsel of its own selection 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, suffered or omitted by it hereunder in good faith and in reliance thereon; 

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

(6) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, coupon or other paper or document, unless requested in writing so to do by the Holders of not less than a majority in aggregate
principal amount of the Outstanding Securities of any series; provided 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 expenses or liabilities as a condition to proceeding; the
reasonable expenses of every such examination shall be paid by the Holders or, if paid by the Trustee, shall be repaid by the Holders upon demand. The Trustee, in its discretion, may make such further inquiry or investigation into such facts or
matters as it may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, relevant to the facts or matters that are the subject of
its inquiry, personally or by agent or attorney at the expense of the Company and shall incur no liability or additional liability of any kind by reason of such inquiry or investigation; 

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

  
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 (8) the Trustee shall not be liable for any action taken, suffered or
omitted by it in good faith and reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (9) any permissive right or power available to the Trustee under this Indenture or any supplement hereto shall not be construed to be a mandatory duty or obligation; 

(10) the Trustee shall not be charged with knowledge of any matter (including any default, other than as described in
Section 501(1), (2) or (3)) unless and except to the extent actually known to a Responsible Officer of the Trustee or to the extent written notice thereof is received by the Trustee at the Corporate Trust Office; 

(11) the Trustee shall have no liability for any inaccuracy in the books and records of, or for any actions or omissions
of, DTC, Euroclear or Clearstream or any depository acting on behalf of any of them; 
 (12) the rights,
privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent,
custodian and other Person employed by the Trustee to act hereunder; and 
 (13) 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. 
 The Trustee shall not be required to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or
powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
 Except during the continuance of an Event of Default, the Trustee undertakes to perform only such duties as are specifically set forth in this Indenture, and no implied covenants or obligations shall be
read into this Indenture against the Trustee. 
 SECTION 603. Not Responsible for Recitals or Issuance of Securities. The
recitals contained herein and in the Securities, except the Trustee’s certificate of authentication, and in any coupons shall be taken as the statements of the Company, and neither the Trustee nor any Authenticating Agent assumes any
responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Indenture or of the Securities or coupons, except that the Trustee represents that it is duly authorized to execute and deliver this
Indenture, authenticate the Securities and perform its obligations hereunder. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the Company of Securities or the proceeds thereof. The Trustee shall
have no responsibility with respect to any information, statement or recital in any offering prospectus or other disclosure materials prepared or distributed with respect to the Securities. 

  
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 SECTION 604. May Hold Securities. The Trustee, any Paying Agent, Security
Registrar, Authenticating Agent or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and coupons and, subject to TIA Sections 310(b) and 311, may otherwise deal with the Company
with the same rights it would have if it were not Trustee, Paying Agent, Security Registrar, Authenticating Agent or such other agent. 
 SECTION 605. Money Held in Trust. Money held by the Trustee in trust hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability
for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. 
 SECTION 606.
Compensation and Reimbursement. The Company agrees: 
 (1) to pay to the Trustee as agreed upon in
writing from time to time reasonable compensation for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust); 

(2) except as otherwise expressly provided herein, to reimburse each of the Trustee and any predecessor Trustee upon its
request for all reasonable expenses, and disbursements incurred by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the reasonable expenses and disbursements of its agents and counsel), except
any such expense or disbursement as shall be determined to have been caused by its own negligence, willful misconduct or bad faith; and 
 (3) to indemnify each of the Trustee and any predecessor Trustee for, and to hold it harmless against, any loss, liability, claim, damage or expense incurred without negligence, willful misconduct or bad
faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim or liability in connection with the exercise or
performance of any of its powers or duties hereunder. 
 When the Trustee incurs expenses or renders services in connection with
an Event of Default specified in Section 501(7) or Section 501(8), the expenses (including the reasonable charges and expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration
under any applicable Federal or state bankruptcy, insolvency or other similar law. 
 As security for the performance of the
obligations of the Company under this Section, the Trustee shall have a lien for payment of the Trustee’s fees and expenses prior to the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust
for the payment of principal of (or premium or Make-Whole Amount, if any) or interest on particular Securities or any coupons. 

The provisions of this Section shall survive the termination of this Indenture and the resignation or removal of the Trustee. 

  
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 SECTION 607. Corporate Trustee Required; Eligibility; Conflicting Interests. There
shall at all times be a Trustee hereunder which shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have at all times a combined capital and surplus of at least $50,000,000 (or which shall have a combined capital and
surplus of at least $10,000,000 and whose ultimate parent holding company shall have a combined capital and surplus of at least $50,000,000. If the Trustee publishes reports of condition at least annually, pursuant to law or the requirements of
Federal, state, territorial or District of Columbia supervising or examining authority, then for the purposes of this Section, the combined capital and surplus of the Trustee shall be deemed to be its combined capital and surplus as set forth in its
most recent report of condition so published. If at any time the Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this
Article. Neither the Company nor any Person directly or indirectly controlling, controlled by, or under common control with the Company shall serve as Trustee. 
 SECTION 608. Resignation and Removal; Appointment of Successor. 
 (a) No
resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of
Section 609. 
 (b) The Trustee may resign at any time with respect to the Securities of one or more series by giving
written notice thereof to the Company. If an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 60 days after the giving of such notice of resignation, the resigning Trustee may petition, at the
expense of the Company, any court of competent jurisdiction for the appointment of a successor Trustee. 
 (c) The Trustee may
be removed at any time with respect to the Securities of any series by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Trustee and to the Company. If an instrument of acceptance by a
successor Trustee shall not have been delivered to the Trustee within 60 days after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the Company, any court of competent jurisdiction for the appointment
of a successor Trustee. 
 (d) If at any time: 

(1) the Trustee shall fail to comply with the provisions of TIA Section 310(b) after written request therefor by the
Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or 

(2) the Trustee shall cease to be eligible under Section 607 and shall fail to resign after written request therefor
by the Company or by any Holder of a Security who has been a bona fide Holder of a Security for at least six months, or 
 (3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or
control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 

  
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then, in any such case, (i) the Company by or pursuant to a Board Resolution may remove the Trustee and appoint a successor Trustee with respect to all Securities, or (ii) subject to
TIA Section 315(e), any Holder of a Security who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the removal of the
Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 
 (e) If the Trustee shall
resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any cause with respect to the Securities of one or more series, the Company, by or pursuant to a Board Resolution, shall promptly appoint a
successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there
shall be only one Trustee with respect to the Securities of any particular series). 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 any
series shall be appointed by Act of the Holders of a majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance
of such appointment, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the Securities of any series shall
have been so appointed by the Company or the Holders of Securities and accepted appointment in the manner hereinafter provided, any Holder of a Security who has been a bona fide Holder of a Security of such series for at least six months may, on
behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to Securities of such series. 

(f) The Company shall give notice of each resignation and each removal of the Trustee with respect to the Securities of any series and
each appointment of a successor Trustee with respect to the Securities of any series in the manner provided for notices to the Holders of Securities in Section 106. Each notice shall include the name of the successor Trustee with respect to the
Securities of such series and the address of its Corporate Trust Office. 
 SECTION 609. 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 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, subject nevertheless to its claim, if any, provided for in Section 606. 

  
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 (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, pursuant to Article Nine
hereof, wherein each successor Trustee shall accept such appointment and which (1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers,
trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall
contain such provisions as shall be deemed necessary or desirable to confirm that all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not
retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one
Trustee, it being understood that nothing herein or in such supplemental indenture shall constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any
trust or trusts hereunder administered by any other such Trustee; and upon the execution and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each
such successor Trustee, without any further act, deed or conveyance, shall become vested with all the rights, powers, trusts and duties of the retiring Trustee with respect to the 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 all 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 609, as the case may be. 
 (d) No successor Trustee shall accept its appointment unless at the time of such
acceptance such successor Trustee shall be qualified and eligible under this Article. 
 SECTION 610. Merger, Conversion,
Consolidation or Succession to Business. Any corporation into which the Trustee may be merged or converted or with which it may be consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall
be a party, or any corporation succeeding to all or substantially all of the corporate trust business of the Trustee, shall be the successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under
this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Securities or coupons 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 or coupons so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities or
coupons. In case any Securities or coupons shall not have been authenticated by such predecessor Trustee, any such successor Trustee may authenticate and deliver such Securities or coupons, in either its own name or that of its predecessor Trustee,
with the full force and effect which this Indenture provides for the certificate of authentication of the Trustee. 

  
 49 

 SECTION 611. Appointment of Authenticating Agent. At any time when any of the
Securities remain Outstanding, the Trustee may appoint an Authenticating Agent or Agents with respect to one or more series of Securities which shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon
conversion or exchange, registration of transfer or partial redemption or repayment 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. Any such appointment shall be evidenced by an instrument in writing signed by a Responsible Officer of the Trustee, a copy of which instrument shall be promptly furnished to the Company. Wherever reference is made in this
Indenture to the authentication and delivery of Securities by the Trustee or the Trustee’s certificate of authentication, such reference shall be deemed to include authentication and delivery on behalf of the Trustee by an Authenticating Agent
and a certificate of authentication executed on behalf of the Trustee by an Authenticating Agent. Each Authenticating Agent shall be acceptable to the Company and shall at all times be a bank or trust company or corporation organized and doing
business and in good standing under the laws of the United States of America or of any state or the District of Columbia, authorized under such laws to act as Authenticating Agent, having a combined capital and surplus of not less than $50,000,000
and subject to supervision or examination by Federal or state authorities. If such Authenticating Agent publishes reports of condition at least annually, pursuant to law or the requirements of the aforesaid supervising or examining authority, then
for the purposes of this Section, the combined capital and surplus of such Authenticating Agent shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time an
Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, such Authenticating Agent shall resign immediately in the manner and with the effect specified in this Section. 

Any corporation into which an Authenticating Agent may be merged or converted or with which it may be consolidated, or any corporation
resulting from any merger, conversion or consolidation to which such Authenticating Agent shall be a party, or any corporation succeeding to the corporate agency or corporate trust business of an Authenticating Agent, shall continue to be an
Authenticating Agent, provided such corporation shall be otherwise eligible under this Section, without the execution or filing of any paper or further act on the part of the Trustee or the Authenticating Agent. 

An Authenticating Agent for any series of Securities may at any time resign by giving written notice of resignation to the Trustee for
such series and to the Company. The Trustee for any series of Securities may at any time terminate the agency of an Authenticating Agent by giving written notice of termination to such Authenticating Agent and to the Company. Upon receiving such a
notice of resignation or upon such a termination, or in case at any time such Authenticating Agent shall cease to be eligible in accordance with the provisions of this Section, the Trustee for such series may appoint a successor Authenticating Agent
which shall be acceptable to the Company and shall give notice of such appointment to all Holders of Securities of the series with respect to which such Authenticating Agent will serve in the manner set forth in Section 106. Any successor
Authenticating Agent upon acceptance of its appointment hereunder shall become vested with all the rights, powers and duties of its predecessor hereunder, with like effect as if originally named as an Authenticating Agent herein. No successor
Authenticating Agent shall be appointed unless eligible under the provisions of this Section. 

  
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 The Company agrees to pay to each Authenticating Agent from time to time reasonable
compensation including reimbursement of its reasonable expenses for its services under this Section, subject to Section 606. 
 If an appointment with respect to one or more series is made pursuant to this Section, the Securities of such series may have endorsed thereon, in addition to or in lieu of the Trustee’s certificate
of authentication, an alternate certificate of authentication substantially in the following form: 
 This is one of the
Securities of the series designated therein referred to in the within- mentioned Indenture. 
  

									
		 		 	  
	 	,
				
		 		 	as Trustee	 	
					
	Dated:                     	 		 	By:	 	  
	 	
					
		 		 		 	as Authenticating Agent	 	
					
	Dated:                     	 		 	By:	 	  
	 	
					
		 		 		 	as Authenticating Agent	 	

 SECTION 612. Certain Duties and Responsibilities of the Trustee. 

(a) With respect to the Securities of any series, except during the continuance of an Event of Default with respect to the Securities of
such series: 
 (1) the Trustee undertakes to perform such duties and only such duties as are specifically set
forth in this Indenture, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions
furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a
duty to examine the same to determine whether or not they conform to the requirements of this Indenture, but shall not be under any duty to verify the contents or accuracy thereof. 

(b) In case an Event of Default with respect to the Securities of any series has occurred and is continuing, the Trustee shall, with
respect to Securities of such series, exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct
of his own affairs. 

  
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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) this
Subsection shall not be construed to limit the effect of Subsection (a) of this Section; 
 (2) the Trustee shall not be
liable for any error of judgment made in good faith by a Responsible Officer, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (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 a majority in principal amount of the
Outstanding Securities of any series 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 such series; and 
 (4) no provision of this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity
against such risk or liability is not reasonably assured to it; and, the Trustee shall be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holder, unless such Holder shall have offered to the
Trustee security and indemnity satisfactory to it against any loss, liability or expense. 
 (d) Whether or not therein
expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 612. 

(e) The Trustee shall not be liable for interest on any money or assets held by it except to the extent the Trustee may agree in writing
with the Company. Assets held in trust by the Trustee need not be segregated from other assets except to the extent required by law. 
 ARTICLE SEVEN - HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 SECTION
701. Disclosure of Names and Addresses of Holders. Every Holder of Securities or coupons, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the Trustee nor any Authenticating Agent nor any
Paying Agent nor any Security Registrar shall be held accountable by reason of the disclosure of any information as to the names and addresses of the Holders of Securities in accordance with TIA Section 312, 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 TIA Section 312(b). 

  
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 SECTION 702. Reports by Trustee. The Trustee shall transmit to Holders such reports
concerning the Trustee and its actions under this Indenture as may be required by TIA Section 313 at the times and in the manner provided by the TIA, which shall initially be not less than every twelve months commencing on , 20 . A copy of
each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each over-the-counter market or securities exchange, if any, upon which any Securities are quoted or listed, with the Commission and with the Company.
The Company will notify the Trustee when any Securities are quoted or listed on any over-the-counter market or securities exchange or delisted therefrom. 
 SECTION 703. Reports by Company. The Company will: 
 (1)
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) which 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 it will file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such of the supplementary and
periodic information, documents and reports which may be required pursuant to Section 13 of the Exchange Act in respect of a security quoted or listed and registered on an over-the-counter market or national securities exchange as may be
prescribed from time to time in such rules and regulations; 
 (2) file with the Trustee and the Commission, in
accordance with rules and regulations prescribed from time to time by the Commission, such additional information, documents and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required
from time to time by such rules and regulations; 
 (3) transmit by mail to the Holders of Securities, within 30
days after the filing thereof with the Trustee, in the manner and to the extent provided in TIA Section 313(c), such summaries of any information, documents and reports required to be filed by the Company pursuant to paragraphs (1) and
(2) of this Section as may be required by rules and regulations prescribed from time to time by the Commission; and 
 (4) delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information
contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 

SECTION 704. Company to Furnish Trustee Names and Addresses of Holders. The Company will furnish or cause to be furnished to the
Trustee: 
 (a) semiannually, not later than 15 days after the Regular Record Date for interest for each series of Securities, a
list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders of Registered Securities of such series as of such Regular Record Date, or if there is no Regular Record Date for interest for such series of
Securities, semiannually, upon such dates as are set forth in the Board Resolution or indenture supplemental hereto authorizing such series, and 

  
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 (b) at such other times as the Trustee may request in writing, within 30 days after the
receipt by the Company of any such request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished, 
 provided, however, that, so long as the Trustee is the Security Registrar, no such list shall be required to be furnished. 

ARTICLE EIGHT - CONSOLIDATION, MERGER, SALE, LEASE OR CONVEYANCE 
 SECTION 801. Consolidations and Mergers of Company and Sales, Leases and Conveyances Permitted Subject to Certain Conditions. The Company may consolidate with, or sell, lease or convey all or
substantially all of its assets to, or merge with or into any other corporation, provided that in any such case, (1) either the Company shall be the continuing corporation, or the successor corporation shall be a corporation organized and
existing under the laws of the United States or a State thereof and such successor corporation shall expressly assume the due and punctual payment of the principal of (and premium or Make-Whole Amount, if any) and any interest on all of the
Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed by the Company by supplemental indenture, complying with Article Nine hereof,
satisfactory to the Trustee, executed and delivered to the Trustee by such corporation, (2) immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of the Company or any Subsidiary as a
result thereof as having been incurred by the Company or such Subsidiary at the time of such transaction, no Event of Default, and no event which, after notice or the lapse of time, or both, would become an Event of Default, shall have occurred and
be continuing and (3) the Company shall have delivered to the Trustee the Officer’s Certificate and Opinion of Counsel required pursuant to Section 803 below. 
 SECTION 802. Rights and Duties of Successor Corporation. In case of any such consolidation, merger, sale, lease or conveyance and upon any such assumption by the successor corporation, such
successor corporation shall succeed to and be substituted for the Company, with the same effect as if it had been named herein as the party of the first part, and the predecessor corporation, except in the event of a lease, shall be relieved of any
further obligation under this Indenture and the Securities. Such successor corporation thereupon may cause to be signed, and may issue either in its own name or in the name of the Company, any or all of the Securities issuable hereunder which
theretofore shall not have been signed by the Company and delivered to the Trustee; and, upon the order of such successor corporation, instead of the Company, and subject to all the terms, conditions and limitations in this Indenture prescribed, the
Trustee shall authenticate and shall deliver any Securities which previously shall have been signed and delivered by the officers of the Company to the Trustee for authentication, and any Securities which such successor corporation thereafter shall
cause to be signed and delivered to the Trustee for that purpose. All the Securities so issued shall in all respects have the same legal rank and benefit under this Indenture as the Securities theretofore or thereafter issued in accordance with the
terms of this Indenture as though all of such Securities had been issued at the date of the execution hereof. 

  
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 In case of any such consolidation, merger, sale, lease or conveyance, such changes in
phraseology and form (but not in substance) may be made in the Securities thereafter to be issued as may be appropriate. 

SECTION 803. Officers’ Certificate and Opinion of Counsel. Any consolidation, merger, sale, lease or conveyance permitted
under Section 801 is also subject to the condition that the Trustee receive an Officers’ Certificate and an Opinion of Counsel to the effect that any such consolidation, merger, sale, lease or conveyance, and the assumption by any
successor corporation, complies with the provisions of this Article and that all conditions precedent herein provided for relating to such transaction have been complied with. 
 ARTICLE NINE - SUPPLEMENTAL INDENTURES 
 SECTION 901. Supplemental Indentures
Without Consent of Holders. Without the consent of any Holders of Securities or coupons, the Company, when authorized by or pursuant to a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures
supplemental hereto, in form satisfactory to the Trustee, for any of the following purposes: 
 (1) to evidence
the succession of another Person to the Company and the assumption by any such successor of the covenants of the Company contained herein and in the Securities; or 

(2) 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; or

 (3) to add any additional Events of Default for the benefit of the Holders of all or any series of Securities
(and if such Events of Default are to be for the benefit of less than all series of Securities, stating that such Events of Default are expressly being included solely for the benefit of such series); provided, however, that in respect
of any such additional Events of Default such supplemental indenture may provide for a particular period of grace after default (which period may be shorter or longer than that allowed in the case of other defaults) or may provide for an immediate
enforcement upon such default or may limit the remedies available to the Trustee upon such default or may limit the right of the Holders of a majority in aggregate principal amount of that or those series of Securities to which such additional
Events of Default apply to waive such default; or 
 (4) to add to or change any of the provisions of this
Indenture to provide that Bearer Securities may be registrable as to principal, to change or eliminate any restrictions on the payment of principal of or premium or Make-Whole Amount, if any, or interest on Bearer Securities, to permit Bearer
Securities to be issued in exchange for Registered Securities, to permit Bearer Securities to be issued in exchange for Bearer 

  
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Securities of other authorized denominations or to permit or facilitate the issuance of Securities in uncertificated form, provided that any such action shall not adversely affect the
interests of the Holders of Securities of any series or any related coupons in any material respect; or 
 (5) to
change or eliminate any of the provisions of this Indenture, provided that any such change or elimination shall become effective only when there is no Security Outstanding of any series created prior to the execution of such supplemental
indenture which is entitled to the benefit of such provision; or 
 (6) to secure the Securities; or 

(7) to establish the form or terms of Securities of any series and any related coupons as permitted or contemplated by
Sections 201 and 301; or 
 (8) 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 one
Trustee; or 
 (9) to cure any ambiguity, to correct or supplement any provision herein which may be defective or
inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture which shall not be inconsistent with the provisions of this Indenture, provided such provisions
shall not adversely affect the interests of the Holders of Securities of any series or any related coupons in any material respect; or 
 (10) to supplement any of the provisions of this Indenture to such extent as shall be necessary to permit or facilitate the Defeasance and discharge of any series of Securities pursuant to Sections 401,
1402 and 1403; provided that any such action shall not adversely affect the interests of the Holders of Securities of such series and any related coupons or any other series of Securities in any material respect; or 

(11) to make provisions with respect to Holders’ rights of conversion with respect to any series of Securities
pursuant to Article Sixteen. 
 SECTION 902. Supplemental Indentures with Consent of Holders. With the consent of the
Holders of not less than a majority in principal amount of all Outstanding Securities affected by such supplemental indenture, by Act of said Holders delivered to the Company and the Trustee, the Company, when authorized by or pursuant to a Board
Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of modifying in any manner the
rights of the Holders of Securities and any related coupons under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected thereby:

 (1) change the Stated Maturity of the principal of (or premium or Make-Whole Amount, if any, on) or any
installment of principal of or interest on, any Security; or reduce the principal amount thereof or the rate or amount of interest thereon, or any premium or Make-Whole Amount payable upon the redemption thereof, or reduce the

  
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amount of the principal of an Original Issue Discount Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502 or the amount
thereof provable in bankruptcy pursuant to Section 504, or adversely affect any right of repayment at the option of the Holder of any Security, or change any Place of Payment where, or the currency or currencies, currency unit or units or
composite currency or currencies in which, any Security or any premium or Make-Whole Amount or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof
(or, in the case of redemption or repayment at the option of the Holder, on or after the Redemption Date or the Repayment Date, as the case may be), or (if Securities of such series are convertible) adversely affect the right of the Holder to
convert any Security as provided in Article Sixteen; or 
 (2) reduce the percentage in principal amount of the
Outstanding Securities of any series, the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver with respect to such series (or compliance with certain provisions of this
Indenture or certain defaults hereunder and their consequences) provided for in this Indenture, or reduce the requirements of Section 1504 for quorum or voting, or 

(3) modify any of the provisions of this Section, Section 513 or Section 1009, except to increase the required
percentage to effect such action or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby, provided, however, that this
clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the Trustee” and concomitant changes in this Section 902 and Section 1009, or the deletion of this proviso, in
accordance with the requirements of Sections 609(b) and 901(11). 
 It shall not be necessary for any Act of Holders under this
Section 902 to approve the particular form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of
Securities, or which modifies the rights of the Holders of 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 Securities of any other series.

 SECTION 903. Execution of Supplemental Indentures. In executing, or accepting the additional trusts created by, any
supplemental indenture permitted by this Article or the modification thereby of the trusts created by this Indenture, the Trustee shall be entitled to receive, and (subject to Section 612) shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights,
duties or immunities under this Indenture or otherwise. 

  
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 SECTION 904. Effect of Supplemental Indentures. Upon the execution of any
supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter
authenticated and delivered hereunder and of any coupon appertaining thereto shall be bound thereby. 
 SECTION 905.
Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act as then in effect. 

SECTION 906. Reference in Securities to Supplemental Indentures. Securities of any series authenticated and delivered after the
execution of any supplemental indenture pursuant to this Article may, and shall, if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so
determine, new Securities of any series so modified as to conform, in the opinion of the Trustee and the Company, to any such supplemental indenture may be prepared and executed by the Company and authenticated and delivered by the Trustee in
exchange for Outstanding Securities of such series. 
 ARTICLE TEN - COVENANTS 

SECTION 1001. Payment of Principal, Premium or Make-Whole Amount, if any; and Interest. The Company covenants and agrees for the
benefit of the Holders of each series of Securities that it will duly and punctually pay the principal of (and premium or Make-Whole Amount, if any) and interest on the Securities of that series in accordance with the terms of such series of
Securities, any coupons appertaining thereto and this Indenture. Unless otherwise specified as contemplated by Section 301 with respect to any series of Securities, any interest due on Bearer Securities on or before Maturity shall be payable
only upon presentation and surrender of the several coupons for such interest installments as are evidenced thereby as they severally mature. Unless otherwise specified with respect to Securities of any series pursuant to Section 301, at the
option of the Company (upon written notice to the Trustee), all payments of principal may be paid by check to the registered Holder of the Registered Security or other Person entitled thereto against surrender of such Security. 

SECTION 1002. Maintenance of Office or Agency. If Securities of a series are issuable only as Registered Securities, the Company
shall maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be presented or surrendered for payment or conversion, where Securities of that series may be surrendered for registration
of transfer or conversion or exchange and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served. If Securities of a series are issuable as Bearer Securities, the Company will
maintain: (A) in the Borough of Manhattan, The City of New York, an office or agency where any Registered Securities of that series may be presented or surrendered for payment or conversion, where any Registered Securities of that series may be
surrendered for registration of transfer, where Securities of that series may be surrendered for conversion or exchange, where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served
and where Bearer Securities of that series and related coupons may be presented 

  
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or surrendered for payment or conversion in the circumstances described in the following paragraph (and not otherwise); (B) subject to any laws or regulations applicable thereto, in a Place
of Payment for that series which is located outside the United States, an office or agency where Securities of that series and related coupons may be presented and surrendered for payment; provided, however, that if the Securities of
that series are listed on any stock exchange located outside the United States and such stock exchange shall so require, the Company will maintain a Paying Agent for the Securities of that series in any required city located outside the United
States, as the case may be, so long as the Securities of that series are listed on such exchange; and (C) subject to any laws or regulations applicable thereto, in a Place of Payment for that series located outside the United States an office
or agency where any Registered Securities of that series may be surrendered for registration of transfer, where Securities of that series may be surrendered for conversion or exchange and where notices and demands to or upon the Company in respect
of the Securities of that series and this Indenture may be served. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of each such office or agency. 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, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, except that Bearer
Securities of that series and the related coupons may be presented and surrendered for payment or conversion at the offices specified in the Security, in London, England, and the Company hereby appoints the same as its agent to receive such
respective presentations, surrenders, notices and demands, and the Company hereby appoints the Trustee its agent to receive all such presentations, surrenders, notices and demands. 

Unless otherwise specified with respect to any Securities pursuant to Section 301, no payment of principal, premium or Make-Whole
Amount or interest on Bearer Securities shall be made at any office or agency of the Company in the United States or by check mailed to any address in the United States or by transfer to an account maintained with a bank located in the United
States; provided, however, that, if the Securities of a series are payable in Dollars, payment of principal of and any premium or Make-Whole Amount and interest on any Bearer Security shall be made at the office of the Company’s
Paying Agent in the Borough of Manhattan, The City of New York, if (but only if) payment in Dollars of the full amount of such principal, premium or Make-Whole Amount, or interest, as the case may be, at all offices or agencies outside the United
States maintained for the purpose by the Company in accordance with this Indenture, is illegal or effectively precluded by exchange controls or other similar restrictions. 
 The Company may from time to time designate one or more other offices or agencies (in or outside the Place of Payment) where the Securities of one or more series may be presented or surrendered for any or
all of such purposes, and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligation to maintain an office or agency in
accordance with the requirements set forth above for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other
office or agency. Unless otherwise specified with respect to any Securities pursuant to Section 301 with respect to a series of Securities, the Company hereby designates as a Place of Payment for each series of Securities, each of (i) the
office or agency of the Company in the Borough of Manhattan, The City of New York, and (ii) the Corporate Trust 

  
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Office of the Trustee (as Paying Agent); and the Company hereby initially appoints the Trustee at its Corporate Trust Office as Paying Agent in such city; and the Company hereby initially
appoints as its agent to receive all such presentations, surrenders, notices and demands each of the Trustee, at its Corporate Trust Office. 
 Unless otherwise specified with respect to any Securities pursuant to Section 301, if and so long as the Securities of any series (i) are denominated in a Foreign Currency or (ii) may be
payable in a Foreign Currency, or so long as it is required under any other provision of the Indenture, then the Company will maintain with respect to each such series of Securities, or as so required, at least one exchange rate agent (of which it
shall give written notice to the Trustee). 
 SECTION 1003. Money for Securities Payments to Be Held in Trust. If the
Company shall at any time act as its own Paying Agent with respect to any series of any Securities and any related coupons, it will, on or before each due date of the principal of (and premium or Make-Whole Amount, if any), or interest on any of the
Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum in the currency or currencies, currency unit or units or composite currency or currencies in which the Securities of such series are payable
(except as otherwise specified pursuant to Section 301 for the Securities of such series) sufficient to pay the principal (and premium or Make-Whole Amount, if any) or interest so becoming due until such sums shall be paid to such Persons or
otherwise disposed of as herein provided, and will promptly notify the Trustee of its action or failure so to act. 
 Whenever
the Company shall have one or more Paying Agents for any series of Securities and any related coupons, it will, on or before each due date of the principal of (and premium or Make-Whole Amount, if any), or interest on any Securities of that series,
deposit with a Paying Agent a sum (in the currency or currencies, currency unit or units or composite currency or currencies described in the preceding paragraph) sufficient to pay the principal (and premium or Make-Whole Amount, 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 Make-Whole Amount, if any, or interest and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of
its action or failure so to act. 
 The Company will cause each Paying Agent for any series of Securities other than the Trustee
to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will 

(1) hold all sums held by it for the payment of principal of (and premium or Make-Whole Amount, if any) or interest on
Securities in trust for the benefit of the Persons entitled thereto until such sums shall be paid to such Persons or otherwise disposed of as herein provided; 
 (2) give the Trustee notice of any default by the Company (or any other obligor upon the Securities) in the making of any such payment of principal (and premium or Make-Whole Amount, if any) or interest
on the Securities of that series; and 
 (3) at any time during the continuance of any such default upon the
written request of the Trustee, forthwith pay to the Trustee all sums so held in trust by such Paying Agent. 

  
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 The Company may at any time, for the purpose of obtaining the satisfaction and discharge of
this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts 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 sums. 

Except as otherwise provided in the Securities of any series, and subject to applicable laws, any money deposited with the Trustee or any
Paying Agent, or then held by the Company, in trust for the payment of the principal of (and premium or Make-Whole Amount, if any) or interest on any Security of any series and remaining unclaimed for two years after such principal (and premium or
Make-Whole Amount, if any) or interest has become due and payable shall be paid to the Company upon Company Request or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an
unsecured general creditor, look only to the Company for payment of such principal of (and premium or Make-Whole Amount, if any) or interest on any Security, without interest thereon, and all liability of the Trustee or such Paying Agent with
respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of
the Company cause to be published once, in an Authorized Newspaper, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of
such money then remaining will be repaid to the Company. 
 SECTION 1004. Existence. Subject to Article Eight, the
Company will do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, all material rights (by articles of incorporation, by-laws and statute) and material franchises; provided,
however, that the Company shall not be required to preserve any such right or franchise if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company. 

SECTION 1005. Maintenance of Properties. The Company will cause all of its material properties used or useful in the conduct of
its business or the business of any Subsidiary to be maintained and kept in good condition, repair and working order, normal wear and tear, casualty and condemnation excepted, and supplied with all necessary equipment and will cause to be made all
necessary repairs, renewals, replacements, betterments and improvements thereof (and the Company may take out of service for a period of time, any of its properties that have been condemned or suffered any loss due to casualty in order to make such
repairs, betterments and improvements), all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; provided, however, that
the Company and its Subsidiaries shall not be prevented from (i) removing permanently any property that has been condemned or suffered a loss due to casualty based on the Company’s reasonable judgment that such removal is in the best
interest of the Company, or (ii) selling or otherwise disposing of their properties for value in the ordinary course of business. 

  
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 SECTION 1006. Insurance. The Company will cause each of its and its
Subsidiaries’ insurable properties to be insured against loss or damage in an amount deemed reasonable by the Board of Directors with insurers of recognized responsibility. 

SECTION 1007. Payment of Taxes and Other Claims. The Company will pay or discharge or cause to be paid or discharged, before the
same shall become delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon it or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary, and (2) all lawful claims for labor,
materials and supplies which, if unpaid, might by law become a lien upon the property of the Company or any Subsidiary; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or discharged any
such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings. 
 SECTION 1008. Statement as to Compliance. The Company will deliver to the Trustee, within 120 days after the end of each fiscal year, a brief certificate from the principal executive officer,
principal financial officer or principal accounting officer as to his or her knowledge of the Company’s compliance with all conditions and covenants under this Indenture and, in the event of any noncompliance, specifying such noncompliance and
the nature and status thereof. For purposes of this Section 1008, such compliance shall be determined without regard to any period of grace or requirement of notice under this Indenture. 

SECTION 1009. Waiver of Certain Covenants. The Company may omit in any particular instance to comply with any term, provision or
condition set forth in Sections 1004 to 1008, inclusive, if before or after the time for such compliance the Holders of at least a majority in principal amount of all outstanding Securities of such series, by Act of such Holders, either waive such
compliance in such instance or generally waive compliance with such covenant or condition, but no such waiver shall extend to or affect such covenant or condition except to the extent so expressly waived, and, until such waiver shall become
effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and effect. 
 ARTICLE ELEVEN - REDEMPTION OF SECURITIES 
 SECTION 1101. Applicability of
Article. Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 301 for Securities of any series) in
accordance with this Article. 
 SECTION 1102. Election to Redeem; Notice to Trustee. The election of the Company to
redeem any Securities shall be evidenced by or pursuant to a Board Resolution. In case of any redemption at the election of the Company of less than all of the Securities of any series, the Company shall, at least 45 days prior to the giving of the
notice of redemption in Section 1104 (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date and of the principal amount of Securities of such series to be redeemed. 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 such restriction. 

  
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 SECTION 1103. Selection by Trustee of Securities to Be Redeemed. If less than all the
Securities of any series issued on the same day with the same terms are to be redeemed, the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption Date by the Trustee, from the Outstanding Securities of
such series issued on such date with the same terms not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of portions (equal to the minimum
authorized denomination for Securities of that series or any integral multiple thereof) of the principal amount of Securities of such series of a denomination larger than the minimum authorized denomination for Securities of that series. 

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

For all purposes of this Indenture, unless the context otherwise requires, all provisions relating to the redemption of Securities shall
relate, in the case of any Security redeemed or to be redeemed only in part, to the portion of the principal amount of such Security which has been or is to be redeemed. 
 SECTION 1104. Notice of Redemption. Notice of redemption shall be given in the manner provided in Section 106, not less than 30 days nor more than 60 days prior to the Redemption Date, unless
a shorter period is specified by the terms of such series established pursuant to Section 301, to each Holder of Securities to be redeemed, but failure to give such notice in the manner herein provided to the Holder of any Security designated
for redemption as a whole or in part, or any defect in the notice to any such Holder, shall not affect the validity of the proceedings for the redemption of any other such Security or portion thereof. 

Any notice that is mailed to the Holders of Registered Securities in the manner herein provided shall be conclusively presumed to have
been duly given, whether or not the Holder receives the notice. 
 All notices of redemption shall state: 

(1) the Redemption Date, 
 (2) the Redemption Price, accrued interest to the Redemption Date payable as provided in Section 1106, if any, 
 (3) if less than all Outstanding Securities of any series are to be redeemed, the identification (and, in the case of partial redemption, the principal amount) of the particular Security or Securities to
be redeemed, 
 (4) in case any Security is to be redeemed in part only, the notice which relates to such
Security shall state that on and after the Redemption Date, upon surrender of such Security, the holder will receive, without a charge, a new Security or Securities of authorized denominations for the principal amount thereof remaining unredeemed,

  
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 (5) that on the Redemption Date the Redemption Price and accrued interest to
the Redemption Date payable as provided in Section 1106, if any, will become due and payable upon each such Security, or the portion thereof, to be redeemed and, if applicable, that interest thereon shall cease to accrue on and after said date,

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

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

(8) that, unless otherwise specified in such notice, Bearer Securities of any series, if any, surrendered for redemption
must be accompanied by all coupons maturing subsequent to the date fixed for redemption or the amount of any such missing coupon or coupons will be deducted from the Redemption Price, unless security or indemnity satisfactory to the Company, the
Trustee for such series and any Paying Agent is furnished, 
 (9) if Bearer Securities of any series are to be
redeemed and any Registered Securities of such series are not to be redeemed, and if such Bearer Securities may be exchanged for Registered Securities not subject to redemption on this Redemption Date pursuant to Section 305 or otherwise, the
last date, as determined by the Company, on which such exchanges may be made, 
 (10) the CUSIP number of such
Security, if any, and 
 (11) if applicable, that a Holder of Securities who desires to convert Securities for
redemption must satisfy the requirements for conversion contained in such Securities, the then existing conversion price or rate, the place or places where such Securities may be surrendered for conversion, and the date and time when the option to
convert shall expire. 
 Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the
Company or, at the Company’s request, by the Trustee in the name and at the expense of the Company. 
 SECTION 1105.
Deposit of Redemption Price. On or prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, which it may not do in the case of a sinking fund
payment under Article Twelve, segregate and hold in trust as provided in Section 1003) an amount of money in the currency or currencies, currency unit or units or composite currency or currencies in which the Securities of such series are
payable (except as otherwise specified pursuant to Section 301 for the Securities of such series) sufficient to pay on the Redemption Date the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued
interest on, all the Securities or portions thereof which are to be redeemed on that date. 
 If any Securities called for
redemption are converted, any money deposited with the Trustee or with any Paying Agent or so segregated and held in trust for the redemption of such Security shall be paid to the Company upon Company Request or, if then held by the Company, shall
be discharged from such trust. 

  
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 SECTION 1106. Securities Payable on Redemption Date. Notice of redemption having been
given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified in the currency or currencies, currency unit or units or composite currency or currencies in which
the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series) (together with accrued interest, if any, to the Redemption Date), and from and after such date (unless the
Company shall default in the payment of the Redemption Price and accrued interest) such Securities shall, if the same were interest-bearing, cease to bear interest and the coupons for such interest appertaining to any Bearer Securities so to be
redeemed, except to the extent provided below, shall be void. Upon surrender of any such Security for redemption in accordance with said notice, together with all coupons, if any, appertaining thereto maturing after the Redemption Date, such
Security shall be paid by the Company at the Redemption Price, together with accrued interest, if any, to the Redemption Date; provided, however, that installments of interest on Bearer Securities whose Stated Maturity is on or prior
to the Redemption Date shall be payable only at an office or agency located outside the United States (except as otherwise provided in Section 1002) and, unless otherwise specified as contemplated by Section 301, only upon presentation and
surrender of coupons for such interest; and provided further that except as otherwise provided with respect to Securities convertible into the Company’s Common Stock or Preferred Stock, installments of interest on Registered
Securities whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to
their terms and the provisions of Section 307. 
 If any Bearer Security surrendered for redemption shall not be
accompanied by all appurtenant coupons maturing after the Redemption Date, such Security may be paid after deducting from the Redemption Price an amount equal to the face amount of all such missing coupons, or the surrender of such missing coupon or
coupons may be waived by the Company and the Trustee if there be furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the
Trustee or any Paying Agent any such missing coupon in respect of which a deduction shall have been made from the Redemption Price, such Holder shall be entitled to receive the amount so deducted; provided, however, that interest
represented by coupons shall be payable only at an office or agency located outside the United States (except as otherwise provided in Section 1002) and, unless otherwise specified as contemplated by Section 301, only upon presentation and
surrender of those coupons. 
 If any Security called for redemption shall not be so paid upon surrender thereof for redemption,
the principal (and premium or Make-Whole Amount, if any) shall, until paid, bear interest from the Redemption Date at the rate borne by the Security. 
 SECTION 1107. Securities Redeemed in Part. Any Registered Security which is to be redeemed only in part (pursuant to the provisions of this Article or of Article Twelve) shall be surrendered at a
Place of Payment therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly
authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security without service charge a new Security or Securities of the same series, of any authorized

  
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denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. If a Global Security is
so surrendered, the Company shall execute and the Trustee shall authenticate and deliver to the depository, without service charge, a new Global Security in a denomination equal to and in exchange for the unredeemed portion of the principal of the
Global Security so surrendered. 
 ARTICLE TWELVE - SINKING FUNDS 

SECTION 1201. Applicability of Article. The provisions of this Article shall be applicable to any sinking fund for the retirement
of Securities of a series except as otherwise specified as contemplated by Section 301 for Securities of such series. 

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 such Securities of any series is herein referred to as an “optional sinking fund payment.” If provided for by the
terms of any Securities of any series, the cash amount of any mandatory sinking fund payment may be subject to reduction as provided in Section 1202. 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 1202. Satisfaction of Sinking Fund Payments with
Securities. The Company may, in satisfaction of all or any part of any mandatory sinking fund payment with respect to the Securities of a series, (1) deliver Outstanding Securities of such series (other than any previously called for
redemption) together in the case of any Bearer Securities of such series with all unmatured coupons appertaining thereto and (2) apply as a credit Securities of such series which 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, as provided for by the terms of such Securities, or which have otherwise been acquired by the Company;
provided that such Securities so delivered or applied as a credit have not been previously so credited. Such Securities shall be received and credited for such purpose by the Trustee at the applicable Redemption Price specified in such
Securities for redemption through operation of the sinking fund and the amount of such mandatory sinking fund payment shall be reduced accordingly. 
 SECTION 1203. Redemption of Securities for Sinking Fund. Not less than 60 days prior to each sinking fund payment date for Securities of any series, the Company will deliver to the Trustee an
Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that series pursuant to the terms of that series, the portion thereof, if any, which is to be satisfied by payment of cash in the currency or
currencies, currency unit or units or composite currency or currencies in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series) and the portion thereof, if any,
which is to be satisfied by delivering and crediting Securities of that series pursuant to Section 1202, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and will also deliver to the
Trustee any Securities to be so delivered and credited. If such Officers’ Certificate shall specify an optional amount to be added 

  
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in cash to the next ensuing mandatory sinking fund payment, the Company shall thereupon be obligated to pay the amount therein specified. 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 1103 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 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107. 

ARTICLE THIRTEEN - REPAYMENT AT THE OPTION OF HOLDERS 
 SECTION 1301. Applicability of Article. Repayment of Securities of any series before their Stated Maturity at the option of Holders thereof shall be made in accordance with the terms of such
Securities, if any, and (except as otherwise specified by the terms of such series established pursuant to Section 301) in accordance with this Article. 
 SECTION 1302. Repayment of Securities. Securities of any series subject to repayment in whole or in part at the option of the Holders thereof will, unless otherwise provided in the terms of such
Securities, be repaid at a price equal to the principal amount thereof, together with interest, if any, thereon accrued to the Repayment Date specified in or pursuant to the terms of such Securities. The Company covenants that on or prior to the
Repayment Date it will deposit with the Trustee or with a Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money in the currency or currencies, currency
unit or units or composite currency or currencies in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series) sufficient to pay the principal (or, if so provided
by the terms of the Securities of any series, a percentage of the principal) of, and (except if the Repayment Date shall be an Interest Payment Date) accrued interest on, all the Securities or portions thereof, as the case may be, to be repaid on
such date. 
 SECTION 1303. Exercise of Option. Securities of any series subject to repayment at the option of the
Holders thereof will contain an “Option to Elect Repayment” form on the reverse of such Securities. In order for any Security to be repaid at the option of the Holder, the Trustee must receive at the Place of Payment therefor specified in
the terms of such Security (or at such other place or places of which the Company shall from time to time notify the Holders of such Securities) not earlier than 60 days nor later than 30 days prior to the Repayment Date (1) the Security so
providing for such repayment together with the “Option to Elect Repayment” form on the reverse thereof duly completed by the Holder (or by the Holder’s attorney duly authorized in writing) or (2) a telegram, telex, facsimile
transmission or a letter from a member of a national securities exchange, or the FINRA, or a commercial bank or trust company in the United States setting forth the name of the Holder of the Security, the principal amount of the Security, the
principal amount of the Security to be repaid, the CUSIP number, if any, or a description of the tenor and terms of the Security, a statement that the option to elect repayment is being exercised thereby and a guarantee that the Security to be
repaid, together with the duly completed form entitled “Option to Elect Repayment” on the reverse of the Security, will be received by the Trustee not later than the fifth Business Day after the date of such telegram, telex, facsimile
transmission or letter; provided, however, that such telegram, telex, facsimile transmission or letter shall only be effective if such Security and form duly completed are 

  
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received by the Trustee by such fifth Business Day. If less than the entire principal amount of such Security is to be repaid in accordance with the terms of such Security, the principal amount
of such Security to be repaid, in increments of the minimum denomination for Securities of such series, and the denomination or denominations of the Security or Securities to be issued to the Holder for the portion of the principal amount of such
Security surrendered that is not to be repaid, must be specified. The principal amount of any Security providing for repayment at the option of the Holder thereof may not be repaid in part if, following such repayment, the unpaid principal amount of
such Security would be less than the minimum authorized denomination of Securities of the series of which such Security to be repaid is a part. Except as otherwise may be provided by the terms of any Security providing for repayment at the option of
the Holder thereof, exercise of the repayment option by the Holder shall be irrevocable unless waived by the Company. 
 SECTION
1304. When Securities Presented for Repayment Become Due and Payable. If Securities of any series providing for repayment at the option of the Holders thereof shall have been surrendered as provided in this Article and as provided by or
pursuant to the terms of such Securities, such Securities or the portions thereof, as the case may be, to be repaid shall become due and payable and shall be paid by the Company on the Repayment Date therein specified, and on and after such
Repayment Date (unless the Company shall default in the payment of such Securities on such Repayment Date) such Securities shall, if the same were interest-bearing, cease to bear interest and the coupons for such interest appertaining to any Bearer
Securities so to be repaid, except to the extent provided below, shall be void. Upon surrender of any such Security for repayment in accordance with such provisions, together with all coupons, if any, appertaining thereto maturing after the
Repayment Date, the principal amount of such Security so to be repaid shall be paid by the Company, together with accrued interest, if any, to the Repayment Date; provided, however, that coupons whose Stated Maturity is on or prior to
the Repayment Date shall be payable only at an office or agency located outside the United States (except as otherwise provided in Section 1002) and, unless otherwise specified pursuant to Section 301, only upon presentation and surrender
of such coupons; and provided further that, in the case of Registered Securities, installments of interest, if any, whose Stated Maturity is on or prior to the Repayment Date shall be payable (but without interest thereon, unless the Company shall
default in the payment thereof) to the Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 307.

 If any Bearer Security surrendered for repayment shall not be accompanied by all appurtenant coupons maturing after the
Repayment Date, such Security may be paid after deducting from the amount payable therefor as provided in Section 1302 an amount equal to the face amount of all such missing coupons, or the surrender of such missing coupon or coupons may be
waived by the Company and the Trustee if there be furnished to them such security or indemnity as they may require to save each of them and any Paying Agent harmless. If thereafter the Holder of such Security shall surrender to the Trustee or any
Paying Agent any such missing coupon in respect of which a deduction shall have been made as provided in the preceding sentence, such Holder shall be entitled to receive the amount so deducted; provided, however, that interest
represented by coupons shall be payable only at an office or agency located outside the United States (except as otherwise provided in Section 1002) and, unless otherwise specified as contemplated by Section 301, only upon presentation and
surrender of those coupons. 

  
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 If the principal amount of any Security surrendered for repayment shall not be so repaid
upon surrender thereof, such principal amount (together with interest, if any, thereon accrued to such Repayment Date) shall, until paid, bear interest from the Repayment Date at the rate of interest or Yield to Maturity (in the case of Original
Issue Discount Securities) set forth in such Security. 
 SECTION 1305. Securities Repaid in Part. Upon surrender of any
Registered Security which is to be repaid in part only, the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security, without service charge and at the expense of the Company, a new Registered Security or
Securities of the same series, of any authorized denomination specified by the Holder, in an aggregate principal amount equal to and in exchange for the portion of the principal of such Security so surrendered which is not to be repaid. 

ARTICLE FOURTEEN - DEFEASANCE AND COVENANT DEFEASANCE 
 SECTION 1401. Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance. If, pursuant to Section 301, provision is made for either or both of
(a) Defeasance of the Securities of or within a series under Section 1402 or (b) Covenant Defeasance of the Securities of or within a series under Section 1403, then the provisions of such Section or Sections, as the case may be,
together with the other provisions of this Article (with such modifications thereto as may be specified pursuant to Section 301 with respect to any Securities), shall be applicable to such Securities and any coupons appertaining thereto, and
the Company may at its option by Board Resolution, at any time, with respect to such Securities and any coupons appertaining thereto, elect to have Section 1402 (if applicable) or Section 1403 (if applicable) be applied to such Outstanding
Securities and any coupons appertaining thereto upon compliance with the conditions set forth below in this Article. 
 SECTION
1402. Defeasance and Discharge. Upon the Company’s exercise of the above option applicable to this Section with respect to any Securities of or within a series, the Company shall be deemed to have been discharged from its obligations
with respect to such Outstanding Securities and any coupons appertaining thereto on the date the conditions set forth in Section 1404 are satisfied (hereinafter, “Defeasance”). For this purpose, such Defeasance means that the Company
shall be deemed to have paid and discharged the entire indebtedness represented by such Outstanding Securities and any coupons appertaining thereto, which shall thereafter be deemed to be “Outstanding” only for the purposes of
Section 1405 and the other Sections of this Indenture referred to in clauses (A) and (B) below, and to have satisfied all of its other obligations under such Securities and any coupons appertaining thereto and this Indenture insofar
as such Securities and any coupons appertaining thereto are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated
or discharged hereunder: (A) the rights of Holders of such Outstanding Securities and any coupons appertaining thereto to receive, solely from the trust fund described in Section 1404 and as more fully set forth in such Section, payments
in respect of the principal of (and premium or Make-Whole Amount, if any) and interest, if any, on such Securities and any coupons appertaining thereto when such 

  
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payments are due, (B) the Company’s obligations with respect to such Securities under Sections 305, 306, 1002 and 1003, and the Company’s obligations under Section 606 hereof
(C) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (D) this Article. Subject to compliance with this Article Fourteen, the Company may exercise its option under this Section notwithstanding the prior
exercise of its option under Section 1403 with respect to such Securities and any coupons appertaining thereto. 
 SECTION
1403. Covenant Defeasance. Upon the Company’s exercise of the above option applicable to this Section with respect to any Securities of or within a series, the Company shall be released from its obligations under Sections 1004 to 1009,
inclusive, and, if specified pursuant to Section 301, its obligations under any other covenant contained herein or in any indenture supplemental hereto, with respect to such Outstanding Securities and any coupons appertaining thereto on and
after the date the conditions set forth in Section 1404 are satisfied (hereinafter, “Covenant Defeasance”), and such Securities and any coupons appertaining thereto shall thereafter be deemed to be not “Outstanding” for the
purposes of any direction, waiver, consent or declaration or Act of Holders (and the consequences of any thereof) in connection with Sections 1004 to 1009, inclusive, or such other covenant, but shall continue to be deemed “Outstanding”
for all other purposes hereunder. For this purpose, such Covenant Defeasance means that, with respect to such Outstanding Securities and any coupons appertaining thereto, the Company may omit to comply with and shall have no liability in respect of
any term, condition or limitation set forth in any such Section or such other covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such Section or such other covenant or by reason of reference in any such
Section or such other covenant to any other provision herein or in any other document and such omission to comply shall not constitute a default or an Event of Default under Section 501(4) or 501(8) or otherwise, as the case may be, but, except
as specified above, the remainder of this Indenture and such Securities and any coupons appertaining thereto shall be unaffected thereby. 
 SECTION 1404. Conditions to Defeasance or Covenant Defeasance. The following shall be the conditions to application of Section 1402 or Section 1403 to any Outstanding Securities of or
within a series and any coupons appertaining thereto: 
 (a) The Company shall irrevocably have deposited or caused to be
deposited with the Trustee (or another trustee satisfying the requirements of Section 607 who shall agree to comply with the provisions of this Article Fourteen applicable to it) as trust funds in trust for the purpose of making the following
payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of such Securities and any coupons appertaining thereto, (1) an amount in such currency, currencies or currency unit in which such Securities
and any coupons appertaining thereto are then specified as payable at Stated Maturity, or (2) Government Obligations applicable to such Securities and coupons appertaining thereto (determined on the basis of the currency, currencies or currency
unit in which such Securities and coupons appertaining thereto are then specified as payable at Stated Maturity) which through the scheduled payment of principal and interest in respect thereof in accordance with their terms will provide, not later
than the due date of any payment of principal of (and premium or Make-Whole Amount, if any) and interest, if any, on such Securities and any coupons appertaining thereto, money in an amount, or (3) a combination thereof, in any case, in an
amount, sufficient, without consideration of any reinvestment of such principal and interest, in the opinion of a nationally 

  
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recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other
qualifying trustee) to pay and discharge, (i) the principal of (and premium or Make-Whole Amount, if any) and interest, if any, on such Outstanding Securities and any coupons appertaining thereto on the Stated Maturity of such principal or
installment of principal or interest and (ii) any mandatory sinking fund payments or analogous payments applicable to such Outstanding Securities and any coupons appertaining thereto on the day on which such payments are due and payable in
accordance with the terms of this Indenture and of such Securities and any coupons appertaining thereto. 
 (b) Such Defeasance
or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which the Company is a party or by which it is bound. 

(c) No Event of Default or event which with notice or lapse of time or both would become an Event of Default with respect to such
Securities and any coupons appertaining thereto shall have occurred and be continuing on the date of such deposit or, insofar as Sections 501(6) and 501(7) are concerned, at any time during the period ending on the 91st day after the date of such
deposit (it being understood that this condition shall not be deemed satisfied until the expiration of such period). 
 (d) In
the case of an election under Section 1402, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling, or
(ii) since the date of execution of this Indenture, there has been a change in the applicable Federal income tax law, in either case to the effect that, and based thereon such opinion shall confirm that, the Holders of such Outstanding
Securities and any coupons appertaining thereto will not recognize income, gain or loss for Federal income tax purposes as a result of such Defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such Defeasance had not occurred. 
 (e) In the case of an election under
Section 1403, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Outstanding Securities and any coupons appertaining thereto will not recognize income, gain or loss for Federal income
tax purposes as a result of such Covenant Defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred. 

(f) The Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent to the Defeasance under Section 1402 or the Covenant Defeasance under Section 1403 (as the case may be) have been complied with and an Opinion of Counsel to the effect that either (i) as a result of a deposit
pursuant to subsection (a) above and the related exercise of the Company’s option under Section 1402 or Section 1403 (as the case may be), registration is not required under the Investment Company Act of 1940, as amended, by the
Company, with respect to the trust funds representing such deposit or by the Trustee for such trust funds or (ii) all necessary registrations under said Act have been effected. 

  
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 (g) Notwithstanding any other provisions of this Section, such Defeasance or Covenant
Defeasance shall be effected in compliance with any additional or substitute terms, conditions or limitations which may be imposed on the Company in connection therewith pursuant to Section 301. 

(h) The payment of amounts payable to the Trustee pursuant to this Indenture shall be paid or provided for to the reasonable satisfaction
of the Trustee. 
 SECTION 1405. Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous
Provisions. Subject to the provisions of the last paragraph of Section 1003, all money and Government Obligations (or other property as may be provided pursuant to Section 301) (including the proceeds thereof) deposited with the
Trustee (or other qualifying trustee, collectively for purposes of this Section 1405, the “Trustee”) pursuant to Section 1404 in respect of any Outstanding Securities of any series and any coupons appertaining thereto shall be
held in trust and applied by the Trustee, in accordance with the provisions of such Securities and any coupons appertaining thereto and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its
own Paying Agent) as the Trustee may determine, to the Holders of such Securities and any coupons appertaining thereto of all sums due and to become due thereon in respect of principal (and premium or Make-Whole Amount, if any) and interest, but
such money need not be segregated from other funds except to the extent required by law. 
 Unless otherwise specified with
respect to any Security pursuant to Section 301, if, after a deposit referred to in Section 1404(a) has been made, (a) the Holder of a Security in respect of which such deposit was made is entitled to, and does, elect pursuant to
Section 301 or the terms of such Security to receive payment in a currency or currency unit other than that in which the deposit pursuant to Section 1404(a) has been made in respect of such Security, or (b) a Conversion Event occurs
in respect of the currency or currency unit in which the deposit pursuant to Section 1404(a) has been made, the indebtedness represented by such Security and any coupons appertaining thereto shall be deemed to have been, and will be, fully
discharged and satisfied through the payment of the principal of (and premium or Make-Whole Amount, if any), and interest, if any, on such Security as the same becomes due out of the proceeds yielded by converting (from time to time as specified
below in the case of any such election) the amount or other property deposited in respect of such Security into the currency or currency unit in which such Security becomes payable as a result of such election or Conversion Event based on the
applicable market exchange rate for such currency or currency unit in effect on the second Business Day prior to each payment date, except, with respect to a Conversion Event, for such currency or currency unit in effect (as nearly as feasible) at
the time of the Conversion Event. 
 The Company shall pay and indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against the Government Obligations deposited pursuant to Section 1404 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders
of such Outstanding Securities and any coupons appertaining thereto. 

  
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 Anything in this Article to the contrary notwithstanding, subject to Section 606, the
Trustee shall deliver or pay to the Company from time to time upon Company Request any money or Government Obligations (or other property and any proceeds therefrom) held by it as provided in Section 1404 which, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect a Defeasance or Covenant Defeasance,
as applicable, in accordance with this Article. 
 ARTICLE FIFTEEN - MEETINGS OF HOLDERS OF SECURITIES 

SECTION 1501. Purposes for Which Meetings May Be Called. A meeting of Holders of Securities of any series may be called at any
time and from time to time pursuant to this Article to make, give or take any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be made, given or taken by Holders of Securities of such
series. 
 SECTION 1502. Call, Notice and Place of Meetings. 

(a) The Trustee may at any time call a meeting of Holders of Securities of any series for any purpose specified in Section 1501, to
be held at such time and at such place as the Trustee shall determine. Notice of every meeting of Holders of Securities of any series, setting forth the time and the place of such meeting and in general terms the action proposed to be taken at such
meeting, shall be given, in the manner provided in Section 106, not less than 20 nor more than 180 days prior to the date fixed for the meeting. 
 (b) In case at any time the Company, pursuant to a Board Resolution, or the Holders of at least 25% in principal amount of the Outstanding Securities of any series shall have requested the Trustee to call
a meeting of the Holders of Securities of such series for any purpose specified in Section 1501, by written request setting forth in reasonable detail the action proposed to be taken at the meeting, and the Trustee shall not have made the first
publication of the notice of such meeting within 20 days after receipt of such request or shall not thereafter proceed to cause the meeting to be held as provided herein, then the Company or the Holders of Securities of such series in the amount
above specified, as the case may be, may determine the time and the place for such meeting and may call such meeting for such purposes by giving notice thereof as provided in subsection (a) of this Section. 

SECTION 1503. Persons Entitled to Vote at Meetings. To be entitled to vote at any meeting of Holders of Securities of any series,
a Person shall be (1) a Holder of one or more Outstanding Securities of such series, or (2) a Person appointed by an instrument in writing as proxy for a Holder or Holders of one or more Outstanding Securities of such series by such Holder
or Holders. The only Persons who shall be entitled to be present or to speak at any meeting of Holders of Securities of any series shall be the Persons entitled to vote at such meeting and their counsel, any representatives of the Trustee and its
counsel and any representatives of the Company and its counsel. 
 SECTION 1504. Quorum; Action. The Persons entitled to
vote a majority in principal amount of the Outstanding Securities of a series shall constitute a quorum for a meeting of Holders of Securities of such series; provided, however, that if any action is to be taken at such meeting with
respect to a consent or waiver which this Indenture expressly provides may be 

  
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given by the Holders of not less than a specified percentage in principal amount of the Outstanding Securities of a series, the Persons entitled to vote such specified percentage in principal
amount of the Outstanding Securities of such series shall constitute a quorum. In the absence of a quorum within 30 minutes after the time appointed for any such meeting, the meeting shall, if convened at the request of Holders of Securities of such
series, be dissolved. In any other case the meeting may be adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such meeting. In the absence of a quorum at the reconvening of any
such adjourned meeting, such adjourned meeting may be further adjourned for a period of not less than 10 days; at the reconvening of any meeting adjourned or further adjourned for lack of a quorum, the Persons entitled to vote 25% in aggregate
principal amount of the then Outstanding Securities shall constitute a quorum for the taking of any action set forth in the notice of the original meeting. Notice of the reconvening of any adjourned meeting shall be given as provided in
Section 1502(a), except that such notice need be given only once not less than five days prior to the date on which the meeting is scheduled to be reconvened. 
 Except as limited by the proviso to Section 902, any resolution presented to a meeting or adjourned meeting duly reconvened at which a quorum is present as aforesaid may be adopted by the affirmative
vote of the Persons entitled to vote a majority in aggregate principal amount of the Outstanding Securities represented at such meeting; provided, however, that, except as limited by the proviso to Section 902, any resolution with
respect to any request, demand, authorization, direction, notice, consent, waiver or other action which this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage, which is less than a majority, in
principal amount of the Outstanding Securities of a series may be adopted at a meeting or an adjourned meeting duly reconvened and at which a quorum is present as aforesaid by the affirmative vote of the Holders of such specified percentage in
principal amount of the Outstanding Securities of that series. 
 Any resolution passed or decision taken at any meeting of
Holders of Securities of any series duly held in accordance with this Section shall be binding on all the Holders of Securities of such series and the related coupons, whether or not present or represented at the meeting. 

Notwithstanding the foregoing provisions of this Section 1504, if any action is to be taken at a meeting of Holders of Securities of
any series with respect to any request, demand, authorization, direction, notice, consent, waiver or other action that this Indenture expressly provides may be made, given or taken by the Holders of a specified percentage in principal amount of all
Outstanding Securities affected thereby, or of the Holders of such series and one or more additional series: 

(i) there shall be no minimum quorum requirement for such meeting; and 

(ii) the principal amount of the Outstanding Securities of such series that vote in favor of such request, demand,
authorization, direction, notice, consent, waiver or other action shall be taken into account in determining whether such request, demand, authorization, direction, notice, consent, waiver or other action has been made, given or taken under this
Indenture. 

  
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 SECTION 1505. Determination of Voting Rights; Conduct and Adjournment of Meetings.

 (a) Notwithstanding any provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem
advisable for any meeting of Holders of Securities of a series in regard to proof of the holding of Securities of such series and of the appointment of proxies and in regard to the appointment and duties of inspectors of votes, the submission and
examination of proxies, certificates and other evidence of the right to vote, and such other matters concerning the conduct of the meeting as it shall deem appropriate. Except as otherwise permitted or required by any such regulations, the holding
of Securities shall be proved in the manner specified in Section 104 and the appointment of any proxy shall be proved in the manner specified in Section 104 or by having the signature of the Person executing the proxy witnessed or
guaranteed by any trust company, bank or banker authorized by Section 104 to certify to the holding of Bearer Securities. Such regulations may provide that written instruments appointing proxies, regular on their face, may be presumed valid and
genuine without the proof specified in Section 104 or other proof. 
 (b) The Trustee shall, by an instrument in writing
appoint a temporary chairman of the meeting, unless the meeting shall have been called by the Company or by Holders of Securities as provided in Section 1502(b), in which case the Company or the Holders of Securities of the series calling the
meeting, as the case may be, shall in like manner appoint a temporary chairman. A permanent chairman and a permanent secretary of the meeting shall be elected by vote of the Persons entitled to vote a majority in principal amount of the Outstanding
Securities of such series represented at the meeting. 
 (c) At any meeting each Holder of a Security of such series or proxy
shall be entitled to one vote for each $1,000 principal amount of the Outstanding Securities of such series held or represented by him; provided, however, that no vote shall be cast or counted at any meeting in respect of any Security
challenged as not Outstanding and ruled by the chairman of the meeting to be not Outstanding. The chairman of the meeting shall have no right to vote, except as a Holder of a Security of such series or proxy. 

(d) Any meeting of Holders of Securities of any series duly called pursuant to Section 1502 at which a quorum is present may be
adjourned from time to time by Persons entitled to vote a majority in principal amount of the Outstanding Securities of such series represented at the meeting, and the meeting may be held as so adjourned without further notice. 

SECTION 1506. Counting Votes and Recording Action of Meetings. The vote upon any resolution submitted to any meeting of Holders of
Securities of any series shall be by written ballots on which shall be subscribed the signatures of the Holders of Securities of such series or of their representatives by proxy and the principal amounts and serial numbers of the Outstanding
Securities of such series held or represented by them. The permanent chairman of the meeting shall appoint two inspectors of votes who shall count all votes cast at the meeting for or against any resolution and who shall make and file with the
secretary of the meeting their verified written reports in duplicate of all votes cast at the meeting. A record, at least in duplicate, of the proceedings of each meeting of Holders of Securities of any Series shall be prepared by the secretary of
the meeting and there shall be attached to said record the original 

  
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reports of the inspectors of votes on any vote by ballot taken thereat and affidavits by one or more persons having knowledge of the fact, setting forth a copy of the notice of the meeting and
showing that said notice was given as provided in Section 1502 and, if applicable, Section 1504. Each copy shall be signed and verified by the affidavits of the permanent chairman and secretary of the meeting and one such copy shall be
delivered to the Company and another to the Trustee to be preserved by the Trustee, the latter to have attached thereto the ballots voted at the meeting. Any record so signed and verified shall be conclusive evidence of the matters therein stated.

 ARTICLE SIXTEEN - CONVERSION OF SECURITIES 
 SECTION 1601. Applicability of Article; Conversion Privilege and Conversion Price. Securities of any series which are convertible shall be convertible in accordance with their terms and (except as
otherwise specified as contemplated by Section 301 for Securities of any series) in accordance with this Article Sixteen. Subject to and upon compliance with the provisions of this Article Sixteen, at any time during the period specified
in the Securities, at the option of the Holder thereof, any Security or any portion of the principal amount thereof which is $1,000 or an integral multiple of $1,000 may be converted at the principal amount thereof, or of such portion thereof, into
fully paid and nonassessable shares (calculated as to each conversion to the nearest 1/100 of a share) of Common Stock of the Company, at the Conversion Price, determined as hereinafter provided, in effect at the time of conversion. In case a
Security or portion thereof is called for redemption, such conversion right in respect of the Security or portion so called shall expire at the close of business on the Business Day immediately preceding the Redemption Date, unless the Company
defaults in making the payment due upon redemption, in which case such conversion right shall terminate on the date such default is cured. 
 The price at which shares of Common Stock shall be delivered upon conversion (herein called the “Conversion Price”) of Securities of any series shall be specified in such Securities. The
Conversion Price shall be adjusted in certain instances as provided in Section 1604. 
 In case the Company shall, by
dividend or otherwise, declare or make a distribution on its Common Stock referred to in paragraph (4) of Section 1604, the Holder of each Security, upon the conversion thereof pursuant to this Article Sixteen subsequent to the close
of business on the date fixed for the determination of stockholders entitled to receive such distribution and prior to the effectiveness of the Conversion Price adjustment in respect of such distribution pursuant to paragraph (4) of
Section 1604, shall be entitled to receive for each share of Common Stock into which such Security is converted, the portion of the evidence of indebtedness, shares of Capital Stock or assets so distributed applicable to one share of Common
Stock; provided, however, that, at the election of the Company (whose election shall be evidenced by a Board Resolution filed with the Trustee) with respect to all Holders so converting, the Company may, in lieu of distributing to such
Holder any portion of such distribution not consisting of cash or securities of the Company, pay such Holder an amount in cash equal to the fair market value thereof (as determined in good faith by the Board of Directors, whose determination shall
be conclusive and described in a Board Resolution filed with the Trustee). If any conversion of a Security entitled to the benefits described in the immediately preceding sentence occurs prior to the payment date for a distribution to holders of
Common Stock which the Holder of the Security so converted is entitled to receive in accordance with the immediately preceding sentence, the Company may elect (such election to be evidenced by a Board Resolution filed with the Trustee) to distribute
to 

  
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such Holder a due bill for the evidences of indebtedness, shares of Capital Stock or assets to which such Holder is so entitled, provided that such due bill (i) meets any applicable
requirements of the principal over-the-counter market or national securities exchange or other market on which the Common Stock is then traded, and (ii) requires payment or delivery of such evidences of indebtedness or assets no later than the
date of payment or delivery thereof to holders of Common Stock receiving such distribution. 
 SECTION 1602. Exercise of
Conversion Privilege. In order to exercise the conversion privilege, the Holder of any Security to be converted shall surrender such Security, duly endorsed or assigned to the Company or in blank, at any office or agency maintained by the
Company pursuant to Section 1002, accompanied by written notice to the Company at such office or agency that the Holder elects to convert such Security or, if less than the entire principal amount thereof is to be converted, the portion thereof
to be converted and shall comply with any additional requirements set forth in such Security. Securities surrendered for conversion during the period from the close of business on any Regular Record Date next preceding any Interest Payment Date to
the opening of business on such Interest Payment Date shall (except for Securities the Maturity of which is prior to such Interest Payment Date) be accompanied by payment in funds acceptable to the Company of an amount equal to the interest payable
on such Interest Payment Date on the principal amount of Securities being surrendered for conversion and such interest shall be paid on such Interest Payment Date as provided in Section 307. Except as provided in the preceding sentence, no
payment or adjustment shall be made upon any conversion on account of any interest accrued on the Securities surrendered for conversion or on account of any dividends on the Common Stock issued upon conversion. 

The Company’s delivery to the Holder of the fixed number of shares of the Common Stock of the Company (and any cash in lieu of any
fractional share of Common Stock) into which the Security is convertible shall be deemed to satisfy the Company’s obligation to pay the principal amount of the Security and all accrued interest and original issue discount that has not
previously been paid. The shares of Common Stock of the Company so delivered shall be treated as issued first in payment of accrued interest and original issue discount and then in payment of principal. Thus, accrued interest and original issue
discount shall be treated as paid, rather than canceled, extinguished or forfeited. 
 Securities shall be deemed to have been
converted immediately prior to the close of business on the day of surrender of such Securities for conversion in accordance with the foregoing provisions, and at such time the rights of the Holders of such Securities as Holders shall cease, and the
Person or Persons entitled to receive the Common Stock issuable upon conversion shall be treated for all purposes as the record holder or holders of such Common Stock at such time. As promptly as practicable on or after the conversion date, the
Company shall issue and shall deliver at such office or agency a certificate or certificates for the number of full shares of Common Stock issuable upon conversion, together with payment in lieu of any fraction of a share, as provided in
Section 1603. 
 In the case of any Security which is converted in part only, as promptly as practicable on or after the
conversion date the Company shall execute and the Trustee shall authenticate and make available for delivery to the Holder thereof (or the Depositary in the case of a Global Security), at the expense of the Company, a new Security or Securities, of
authorized denominations in aggregate principal amount equal to the unconverted portion of the principal amount of such Security. 

  
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 SECTION 1603. Fractions of Shares. No fractional shares of Common Stock shall be
issued upon conversion of Securities. If more than one Security shall be surrendered for conversion at one time by the same Holder, the number of full shares of Common Stock which shall be issuable upon conversion thereof shall be computed on the
basis of the aggregate principal amount of the Securities (or specified portions thereof) so surrendered. Instead of any fractional share of Common Stock which would otherwise be issuable upon conversion of any Security or Securities (or specified
portions thereof), the Company shall pay a cash adjustment (rounded to the nearest cent) in respect of such fraction in an amount equal to the same fraction of the Closing Price per share of the Common Stock on the day of conversion (or, if such day
is not a Trading Day, on the Trading Day immediately preceding such day). 
 SECTION 1604. Adjustment of Conversion
Price. The Conversion Price shall be subject to adjustment from time to time as follows: 
 (1) If the
Company pays or makes a dividend or other distribution (a) on its Common Stock exclusively in Common Stock or (b) on any other class of Capital Stock of the Company, which dividend or distribution includes Common Stock of the Company, the
Conversion Price in effect at the opening of business on the day following the date fixed for the determination of stockholders entitled to receive such dividend or other distribution (the “Dividend Record Date”) shall be reduced by
multiplying such Conversion Price by a fraction of which the numerator shall be the number of shares of Common Stock of the Company outstanding at the close of business on the Dividend Record Date and the denominator shall be the sum of such number
of shares and the total number of shares constituting such dividend or other distribution. Such reduction shall become effective immediately after the opening of business on the day following the date fixed for such determination. For the purposes
of this paragraph (1), the number of shares of Common Stock of the Company at any time outstanding shall not include shares held in the treasury of the Company, but shall include shares issuable in respect of scrip certificates issued in lieu of
fractions of shares of Common Stock. The Company shall not pay any dividend or make any distribution on shares of Common Stock held in the treasury of the Company. 

(2) Subject to paragraph (6) of this Section, if the Company pays or makes a dividend or other distribution on its
Common Stock consisting exclusively of Short Term Rights (as defined below), or otherwise issues Short Term Rights to all holders of its Common Stock, the Conversion Price in effect at the opening of business on the day following the record date for
the determination of holders of Common Stock entitled to receive such Short Term Rights (the “Rights Record Date”) shall be reduced by multiplying such Conversion Price by a fraction of which the numerator shall be the number of shares of
Common Stock of the Company outstanding at the close of business on the Rights Record Date plus the number of shares of Common Stock of the Company which the aggregate of the offering price of the total number of shares of Common Stock so offered
for subscription or purchase would purchase at such current market price and the denominator shall be the number of shares of Common Stock of the Company 

  
 78 

 
outstanding at the close of business on the Rights Record Date plus the number of shares of Common Stock so offered for subscription or purchase. Such reduction shall become effective immediately
after the opening of business on the day following the Rights Record Date. For the purposes of this paragraph (2), the number of shares of Common Stock of the Company at any time outstanding shall not include shares held in the treasury of the
Company, but shall include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock of the Company. The Company shall not issue any rights, options or warrants in respect of shares of its Common Stock
held in the treasury of the Company. When used in this Section 1604, the term “Short Term Rights” shall mean rights, warrants or options entitling the holders thereof (for a period commencing no earlier than the Rights Record Date and
expiring not more than 45 days after the Rights Record Date) to subscribe for or purchase shares of Common Stock of the Company at a price per share less than the current market price per share (determined as provided in paragraph (7) of this
Section 1604) of the Common Stock of the Company on the Rights Record Date. 
 (3) In case outstanding
shares of Common Stock of the Company shall be subdivided into a greater number of shares of Common Stock, the Conversion Price in effect at the opening of business on the day following the day upon which such subdivision becomes effective shall be
proportionately reduced, and, conversely, in case outstanding shares of Common Stock of the Company shall be combined into a smaller number of shares of Common Stock, the Conversion Price in effect at the opening of business on the day following the
day upon which such combination becomes effective shall be proportionately increased, such reduction or increase, as the case may be, to become effective immediately after the opening of business on the day following the day upon which such
subdivision or combination becomes effective. 
 (4) Subject to the last sentence of this paragraph (4) of
this Section, if the Company, by dividend or otherwise, (a) distributes to all holders of its Common Stock evidences of its indebtedness, shares of any class of Capital Stock of the Company or other assets (other than cash dividends out of
current or retained earnings), or (b) distributes to substantially all holders of Common Stock rights or warrants to subscribe for securities (other than Short Term Rights to which paragraph (2) of this Section 1604 applies), the
Conversion Price shall be reduced by multiplying such Conversion Price by a fraction of which the numerator shall be the current market price per share (determined as provided in paragraph (7) of this Section 1604) of the Common Stock of
the Company on the Reference Date (as defined below) less the fair market value (as determined in good faith by the Board of Directors, whose determination shall be conclusive and described in a Board Resolution filed with the Trustee), on the
Reference Date, of the portion of the evidences of indebtedness and other assets so distributed or of such subscription rights or warrants applicable to one share of Common Stock (collectively, the “Market Value of the Distribution”) and
the denominator shall be such current market price per share of the Common Stock of the Company. Such reduction shall become effective immediately prior to the opening of business on the day (the “Reference Date”) following the later of
(a) the date fixed for the payment of such distribution and (b) the date 20 days after notice relating to such distribution is required to be given pursuant to Section 1606(a). If the Board of Directors determines the fair market
value of any distribution for purposes of this paragraph (4) by reference to the 

  
 79 

 
actual or when issued trading market for any securities comprising such distribution, it must in doing so consider the prices in such market over the same period used in computing the current
market price per share pursuant to paragraph (7) of this Section 1604. In the event that, with respect to any distribution to which this paragraph (4) of Section 1604 would otherwise apply, the Market Value of the Distribution is
greater than the current market price per share of the Common Stock (such distribution being referred to herein as an “Unadjusted Distribution”), then the adjustment provided by this paragraph (4) shall not be made and in lieu thereof
the provisions of Section 1611 shall apply with respect to such Unadjusted Distribution. 
 (5) The Company
may, but shall not be required to, make such reductions in the Conversion Price, in addition to those required by paragraphs (1), (2), (3), and (4) of this Section 1604, as it considers to be advisable in order that any event treated for
federal income tax purposes as a dividend of stock or stock rights shall not be taxable to the recipients. In addition, the Company, from time to time, may decrease the Conversion Price by any amount and for any reason, temporarily or otherwise,
including situations where the Board of Directors determines such decrease to be fair and appropriate with respect to transactions in which holders of Common Stock have the right to participate. 

(6) Rights or warrants issued or distributed by the Company to all holders of its Common Stock entitling the holders
thereof to subscribe for or purchase shares of Common Stock or Preferred Stock, which rights or warrants (i) are deemed to be transferred with such shares of Common Stock, (ii) are not exercisable and (iii) are also issued or
distributed in respect of future issuances of Common Stock, in each case in clauses (i) through (iii) until the occurrence of a specified event or events (“Trigger Events”), shall for purposes of this Section 1604 not be
deemed issued or distributed until the occurrence of the earliest Trigger Event. Each share of Common Stock issued upon conversion of Securities pursuant to this Article Sixteen shall be entitled to receive the appropriate number of Common Stock
purchase rights (the “Rights”), if any, and the certificates representing the Common Stock issued upon conversion shall bear such legends, if any. Notwithstanding anything to the contrary in this Article Sixteen, there shall not be any
adjustment to the Conversion Price as a result of (i) the distribution of separate certificates representing the Rights; (ii) the occurrence of certain events entitling holders of Rights to receive, upon exercise thereof, Common Stock or
other securities of the Company or other securities of another corporation; or (iii) the exercise of such Rights. No adjustment in the Conversion Price need be made for rights to purchase or the sale of Common Stock pursuant to a Company plan
providing for reinvestment of dividends or interest. 
 (7) For the purpose of any computation under paragraph
(2), (4) or (5) of this Section 1604, the “current market price” per share of Common Stock of the Company on any date shall be deemed to be the average of the daily Closing Prices for the 15 consecutive Trading Days selected
by the Company commencing not more than 30 Trading Days before, and ending not later than, the date in question. 

(8) No adjustment in the Conversion Price shall be required unless such adjustment would require an increase or decrease
of at least 1% in the Conversion Price; provided, however, that any adjustments which by reason of this paragraph (8) are not required to be made shall be carried forward and taken into account in any subsequent adjustment. All
calculations under this Article Sixteen shall be made to the nearest cent or to the nearest one-hundredth of a share of Common Stock, as the case may be. 

  
 80 

 (9) Anything herein to the contrary notwithstanding, in the event the
Company shall declare any dividend or distribution requiring an adjustment in the Conversion Price hereunder and shall, thereafter and before the payment of such dividend or distribution to stockholders, legally abandon its plan to pay such dividend
or distribution, the Conversion Price then in effect hereunder, if changed to reflect such dividend or distribution, shall upon the legal abandonment of such plan be changed to the Conversion Price which would have been in effect at the time of such
abandonment (after giving effect to all other adjustments not so legally abandoned pursuant to the provisions of this Article Sixteen) had such dividend or distribution never been declared. 

(10) Notwithstanding any other provision of this Section 1604, no adjustment to the Conversion Price shall reduce the
Conversion Price below the then par value per share of the Common Stock of the Company, and any such purported adjustment shall instead reduce the Conversion Price to such par value. Notwithstanding the foregoing sentence, the Company hereby
covenants that it will from time to time take all such action as may be required to assure that the par value per share of the Common Stock is at all times equal to or less than the Conversion Price. 

(11) In the event that this Article Sixteen requires adjustments to the Conversion Price under more than one of
paragraphs (1), (2), (3) or (4) of this Section 1604, and the record or effective dates for the transaction giving rise to such adjustments shall occur on the same date, then such adjustments shall be made by applying (to the
extent they are applicable), first, the provisions of paragraph (3) of this Section 1604, second, the provisions of paragraph (1) of this Section 1604, third, the provisions of paragraph (4) of this Section 1604 and,
fourth, the provisions of paragraph (2) of this Section 1604. Anything herein to the contrary notwithstanding, no single event shall require or result in duplicative adjustments in the Conversion Price pursuant to this Section 1604.
After an adjustment to the Conversion Price under this Article Sixteen, any subsequent event requiring an adjustment under this Article Sixteen shall cause an adjustment to the Conversion Price as so adjusted. If, after an adjustment, a Holder
of a Security upon conversion of such Security receives shares of two or more classes of Capital Stock of the Company, the Conversion Price shall thereafter be subject to adjustment upon the occurrence of an action taken with respect to any such
class of Capital Stock as is contemplated by this Article Sixteen with respect to the Common Stock in this Article Sixteen. 

SECTION 1605. Notice of Adjustments of Conversion Price. Whenever the Conversion Price is adjusted as herein provided: 

(1) the Company shall compute the adjusted Conversion Price in accordance with Section 1604 or Section 1611 and
shall prepare an Officer’s Certificate setting forth the adjusted Conversion Price and showing in reasonable detail the facts upon which such adjustment is based, and such certificate shall forthwith be filed (with a copy to the Trustee) at
each office or agency maintained for the purpose of conversion of any Securities pursuant to Section 1002; and 

  
 81 

 (2) a notice stating that the Conversion Price has been adjusted and setting
forth the adjusted Conversion Price shall forthwith be required, and as soon as practicable after it is required, such notice shall be mailed by the Company to all Holders at their last addresses as they shall appear in the Security Register.

 SECTION 1606. Notice of Certain Corporate Action. In case: 

(1) the Company shall take any action that would require a Conversion Price adjustment pursuant to Section 1604 or
Section 1611; or 
 (2) there shall occur any reclassification of the Common Stock of the Company (other
than a subdivision or combination of its outstanding shares of Common Stock), or any consolidation or merger to which the Company is a party, or the sale, transfer or lease of all or substantially all of the assets of the Company and for which
approval of any stockholders of the Company is required; or 
 (3) there shall occur the voluntary or involuntary
dissolution, liquidation or winding up of the Company, then the Company shall cause to be filed at each office or agency maintained for the purpose of conversion of Securities pursuant to Section 1002, and shall cause to be mailed to all
Holders at their last addresses as they shall appear in the Security Register, at least 10 days prior to the applicable record, effective or expiration date hereinafter specified, a notice stating (x) the date on which a record is to be taken
for the purpose of any dividend, distribution or granting of rights, warrants or options, or, if a record is not to be taken, the date as of which the holders of Common Stock of record to be entitled to such dividend, distribution, rights, options
or warrants are to be determined, or (y) the date on which such reclassification, consolidation, merger, sale, transfer, dissolution, liquidation or winding up is expected to become effective, and, if applicable, the date as of which it is
expected that holders of Common Stock of record shall be entitled to exchange their shares of Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer, dissolution, liquidation
or winding up. 
 SECTION 1607. Company to Reserve Common Stock. The Company shall at all times reserve and keep
available, free from preemptive rights, out of its authorized but unissued Common Stock, for the purpose of effecting the conversion of Securities, a number of shares of Common Stock for the conversion of all outstanding Securities of any series
which is convertible into Common Stock. 
 SECTION 1608. Taxes on Conversion. The Company will pay any and all taxes that
may be payable in respect of the issue or delivery of shares of Common Stock on conversion of Securities pursuant hereto. The Company shall not, however, be required to pay any tax which may be payable in respect of any transfer involved in the
issue and delivery of shares of Common Stock in a name other than that of the Holder of the Security or Securities to be converted, and no such issue or delivery shall be made unless and until the Person requesting such issue has paid to the Company
the amount of any such tax, or has established to the satisfaction of the Company that such tax has been paid. 
 SECTION 1609.
Covenants as to Common Stock. The Company covenants that all shares of Common Stock which may be issued upon conversion of Securities will upon issue be duly and validly issued, fully paid and nonassessable, free of preemptive or any similar rights,
and, except as provided in Section 1608, the Company will pay all taxes, liens and charges with respect to the issue thereof. 

  
 82 

 The Company will endeavor promptly to comply with all Federal and state securities laws
regulating the offer and delivery of shares of Common Stock upon conversion of Securities, if any, and will list or cause to have quoted such shares of Common Stock on each national securities exchange or in the over-the-counter market or such other
market on which the Common Stock is then listed or quoted. 
 SECTION 1610. Cancellation of Converted Securities. All
Securities delivered for conversion shall be delivered to the Trustee to be cancelled by or at the direction of the Trustee, which shall dispose of the same as provided in Section 309. 

SECTION 1611. Provisions in Case of Consolidation, Merger or Sale of Assets; Special Distributions. If any of the following shall
occur, namely: (i) any reclassification or change of outstanding shares of Common Stock issuable upon conversion of Securities (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a
result of a subdivision or combination), (ii) any consolidation or merger to which the Company is a party other than a merger in which the Company is the continuing corporation and which does not result in any reclassification of, or change
(other than a change in name, or par value, or from par value to no par value, or from no par value to par value or as a result of a subdivision or combination) in, outstanding shares of Common Stock or (iii) any sale or conveyance of all or
substantially all of the property or business of the Company as an entirety, then the Person formed by such consolidation or resulting from such merger or which acquires such properties or assets, as the case may be, shall as a condition precedent
to such transaction execute and deliver to the Trustee a supplemental indenture providing that the Holder of each Security then outstanding shall have the right thereafter, during the period such Security shall be convertible as specified in
Section 1601, to convert such Security only into the kind and amount of securities, cash and other property receivable, if any, upon such consolidation, merger, sale, transfer or lease by a holder of the number of shares of Common Stock of the
Company into which such Security might have been converted immediately prior to such consolidation, merger, sale, transfer or lease; provided that the kind and amount of securities, cash and other property so receivable shall be determined on the
basis of the following assumptions. The holder of Common Stock referred to in the foregoing sentence: 
 (1) is
not (a) a Person with which the Company consolidated, (b) a Person into which the Company merged or which merged into the Company, or (c) a Person to which such sale, transfer or lease was made (any Person described in the foregoing
clauses (a), (b), or (c), hereinafter referred to as a “Constituent Person”), or (d) an Affiliate of a Constituent Person; and 
 (2) failed to exercise his rights of election, if any, as to the kind or amount of securities, cash and other property receivable upon such consolidation, merger, sale, transfer or lease (provided that if
the kind or amount of securities, cash and other property receivable upon such consolidation, merger, sale transfer or lease is not the same for each share of Common Stock of the Company in respect of which such rights of election shall

  
 83 

 
not have been exercised, then for the purpose of this Section 1611 the kind and amount of securities, cash and other property receivable upon such consolidation, merger, sale, transfer or
lease shall be deemed to be the kind and amount so receivable per share by a plurality of such shares of Common Stock). 
 Such
supplemental indenture shall provide for adjustments which, for events subsequent to the effective date of such supplemental indenture, shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article Sixteen.
If, in the case of any such consolidation, merger, sale transfer or lease the stock or other securities and property (including cash) receivable thereupon by a holder of Common Stock includes shares of stock or other securities and property of a
corporation other than the successor or purchasing corporation, as the case may be, in such consolidation, merger, sale, transfer or lease then such supplemental indenture shall also be executed by such other corporation and shall contain such
additional provisions to protect the interests of the Holders of the Securities as the Board of Directors of the Company shall reasonably consider necessary by reason of the foregoing. The above provisions of this Section 1611 shall similarly
apply to successive consolidations, mergers, sales, transfers or leases. 
 In the event the Company shall execute a
supplemental indenture pursuant to this Section 1611, the Company shall promptly file with the Trustee an Officers’ Certificate briefly stating the reasons therefor, the kind or amount of shares of stock or securities or property
(including cash) receivable by Holders of the Securities upon the conversion of their Securities after any such reclassification, change, consolidation, merger, sale, transfer or lease and any adjustment to be made with respect thereto. 

If the Company makes a distribution to all holders of its Common Stock that constitutes an Unadjusted Distribution pursuant to the last
sentence of paragraph (4) of Section 1604, then, from and after the record date for determining the holders of Common Stock entitled to receive such distribution (the “Distribution Record Date”), a Holder of a Security who
converts such Security in accordance with the provisions of this Indenture shall, upon conversion, be entitled to receive, in addition to the shares of Common Stock into which the Security is convertible, the kind and amount of evidences of
indebtedness, shares of Capital Stock, or other assets or subscription rights or warrants, as the case may be, comprising the distribution that such Holder would have received if such Holder had converted the Security immediately prior to the
Distribution Record Date. 
 SECTION 1612. Trustee Adjustment Disclaimer; Company Determination Final. The Trustee has no
duty to determine when an adjustment under this Article Sixteen should be made, how it should be made or what it should be. The Trustee has no duty to determine whether a supplemental indenture under Section 1611 need be entered into or whether
any provisions of any supplemental indenture are correct. The Trustee shall not be accountable for and makes no representation as to the validity or value of any securities or assets issued upon conversion of Securities. The Trustee shall not be
responsible for the Company’s failure to comply with this Article Sixteen. Any determination that the Company or the Board of Directors must make pursuant to this Article Sixteen is conclusive, absent manifest error. 

  
 84 

 SECTION 1613. When No Adjustment Required. Except as expressly set forth in
Section 1604, no adjustment in the Conversion Price shall be made because the Company issues, in exchange for cash, property or services, shares of its Common Stock, or any securities convertible into or exchangeable for shares of its Common
Stock, or securities (including warrants, rights and options) carrying the right to subscribe for or purchase shares of its Common Stock or such convertible or exchangeable securities. 

(1) Notwithstanding anything herein to the contrary, no adjustment in the Conversion Price shall be made pursuant to
Section 1604 in respect of any dividend or distribution if the Holders may participate therein (on a basis to be determined in good faith by the Board of Directors) and receive the same consideration they would have received if they had
converted the Securities immediately prior to the record date with respect to such dividend or distribution. 
 SECTION 1614.
Equivalent Adjustments. In the event that, as a result of an adjustment made pursuant to Section 1604 above, the holder of any Security thereafter surrendered for conversion shall become entitled to receive any shares of Capital Stock of
the Company other than shares of its Common Stock, thereafter the Conversion Price of such other shares so receivable upon conversion of any Securities shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as
practicable to the provisions with respect to Common Stock contained in this Article Sixteen. 

  
 85 

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

 

					
	 SOLITARIO EXPLORATION & ROYALTY
 CORP.

			
	By:	 	  
	 	
			
	Name:	 		 	
			
	Title:	 		 	
		
	  
	 	,
	as Trustee	 	
			
	By:	 	  
	 	
			
	Name:	 		 	
			
	Title:	 		 	

  
 86 

 EXHIBIT A 
 FORM OF REDEEMABLE OR NON-REDEEMABLE SENIOR SECURITY 
 [Face of Security]

 [If the Holder of this Security (as indicated below) is The Depository Trust Company (“DTC”) or a nominee of DTC, this Security is
a Global Security and the following three legends apply: 
 This Security is a Global Security within the meaning set forth in the Indenture
hereinafter referred to and is registered in the name of a Depository or a nominee of a Depository. This Security is exchangeable for Securities registered in the name of a person other than the Depository or its nominee only in the limited
circumstances described in the Indenture, and may not be transferred except as a whole by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or
its nominee to a successor Depository or its nominee. 
 Unless this Security is presented by an authorized representative of The
Depository Trust Company a New York corporation (“DTC”) to the Company or its agent for registration of transfer, conversion, exchange or payment, and such Security issued is registered in the name of Cede & Co., or in such other
name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL, inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
 Unless and
until this Security is exchanged in whole or in part for Securities in certificated form, this Security may not be transferred except as a whole by DTC to a nominee thereof or by a nominee thereof to DTC or another nominee of DTC or by DTC or any
such nominee to a successor of DTC or a nominee of such successor.] 
 [If this Security is an Original Issue Discount Security,
insert — FOR PURPOSES OF SECTION 1273 and 1275 OF THE UNITED STATES INTERNAL REVENUE CODE, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT ON THIS SECURITY IS     % OF ITS PRINCIPAL AMOUNT, THE ISSUE DATE IS
            , 20    , AND THE YIELD TO MATURITY IS     %. THE METHOD USED TO DETERMINE THE AMOUNT OF ORIGINAL ISSUE DISCOUNT APPLICABLE TO THE SHORT
ACCRUAL PERIOD OF             , 20     TO             , 20    , IS
    % OF THE PRINCIPAL AMOUNT OF THIS SECURITY.] 
 SOLITARIO EXPLORATION & ROYALTY CORP.

 [Designation of Series] 
  

			
	No.                     	  	$                     

CUSIP No.                     

 SOLITARIO EXPLORATION & ROYALTY CORP., a Colorado corporation (herein referred to as the “Company,” which term includes
any successor corporation under the Indenture referred to on the reverse hereof), for value received, hereby promises to pay to              or registered assigns the principal sum of
             Dollars on              (the “Stated Maturity Date”) [or insert date fixed for earlier redemption
(the “Redemption Date,” and together with the Stated Maturity Date with respect to principal repayable on such date, the “Maturity Date.”)] 

  
 A-1

 [If the Security is to bear interest prior to Maturity, insert — 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 on
             and              in each year (each, an “Interest Payment Date”), commencing
            , at the rate of     % per annum, until the principal hereof is paid or duly provided for. The interest so payable, and punctually paid or duly provided for,
on any Interest Payment Date will, as provided in such Indenture, be paid to the Holder 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 [at the office or agency of the Company maintained for such purpose; provided, however, that such interest may be paid, at the Company’s option, by mailing a check to such Holder at its registered address or by
transfer of funds to an account maintained by such Holder within the United States]. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date, and may be paid to the
Holder 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 of this series not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any over-the-counter market or securities exchange on which
the Securities of this series may be quoted or listed, and upon such notice as may be required by such market or exchange, all as more fully provided in the Indenture. Interest will be computed on the basis of a 360-day year of twelve 30-day
months.] 
 [If the Security is not to bear interest prior to Maturity, insert — The principal of this Security shall not bear
interest except in the case of a default in payment of principal upon acceleration, upon redemption or at the [Stated] Maturity Date and in such case the overdue principal of this Security shall bear interest at the rate of     %
per annum (to the extent that the payment of such interest shall be legally enforceable), which shall accrue from the date of such default in payment to the date payment of such principal has been made or duly provided for. Interest on any overdue
principal shall be payable on demand. Any such interest on any overdue principal that is not so paid on demand shall bear interest at the rate of     % per annum (to the extent that the payment of such interest shall be legally
enforceable), which shall accrue from the date of such demand for payment to the date payment of such interest has been made or duly provided for, and such interest shall also be payable on demand.] 

The principal of this Security payable on the Stated Maturity Date [or the principal of, premium or Make-Whole Amount, if any, and, if the Redemption
Date is not an Interest Payment Date, interest on this Security payable on the Redemption Date] will be paid against presentation of this Security 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 the payment of public and private debts. 
 Interest payable on this
Security on any Interest Payment Date and on the [Stated] Maturity Date [or Redemption Date, as the case may be,] will include interest accrued from and including the next preceding Interest Payment Date in respect of which interest has been paid or
duly provided for (or from and including             , if no interest has been paid on this Security) to but excluding such Interest Payment Date or the [Stated] Maturity Date [or
Redemption Date, as the case may be.] If any Interest Payment Date or the [Stated] Maturity Date or [Redemption Date] falls on a day that is not a Business Day, as defined below, principal, premium or Make-Whole

  
 A-2

 
Amount, if any, and/or interest payable with respect to such Interest Payment Date or [Stated] Maturity Date [or Redemption Date, as the case may be,] will be paid on the next succeeding Business
Day with the same force and effect as if it were paid on the date such payment was due, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date or [Stated] Maturity Date [or Redemption Date, as
the case may be.] “Business Day” means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions in The City of New York are required or authorized by law, regulation or executive
order to close. 
 [If this Security is a Global Security, insert — All payments of principal, premium or Make-Whole Amount, if any,
and interest in respect of this Security will be made by the Company in immediately available funds.] 
 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 by manual signature of one of its authorized signatories, this Security shall not be entitled to any benefit under the
Indenture, or be valid or obligatory for any purpose. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under
its facsimile corporate seal. 
 Dated:
                      
  

			
	 SOLITARIO EXPLORATION & ROYALTY
 CORP.

		
	By:	 	  

		 	Name:
		
		 	Title:

  

	
	Attest:
	
	  

Secretary

  
 A-3

 [Reverse of Security] 

SOLITARIO EXPLORATION & ROYALTY CORP. 
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an 

Indenture, dated as of             , 20    (herein called the
“Indenture”) between the Company and             , as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture with respect to
the series of which this Security is a part), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the
Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the duly authorized series of Securities designated on the face hereof (collectively, the
“Securities”), [if applicable, insert — and the aggregate principal amount of the Securities to be issued under such series is limited to $ (except for Securities authenticated and delivered upon transfer of, or in
exchange for, or in lieu of other Securities).] All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
 If an Event of Default, as defined in the Indenture, shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect
provided in the Indenture. 
 [If applicable, insert — The Securities may not be redeemed prior to the Stated Maturity Date.]

 [If applicable, insert — The Securities are subject to redemption [ (l) (If applicable, insert —
on             in any year commencing with the year             and ending with the
year             through operation of the sinking fund for this series at a Redemption Price equal to 100% of the principal amount, and (2) ] [If applicable, insert — at
any time [on or after             ], as a whole or in part, at the election of the Company, at the following Redemption Prices (expressed as percentages of the principal amount):

 If redeemed on or before             ,     % and if redeemed
during the 12-month period beginning of the years indicated at the Redemption Prices indicated below. 
  

													
	 Year
	  	Redemption Price	 	  	Year	 	  	Redemption Price	 
		  				  				  			
		  				  				  			

 and thereafter at a Redemption Price equal to     % of the principal amount, together in the
case of any such redemption [If applicable, insert — (whether through operation of the sinking fund or otherwise)] with accrued interest to the Redemption Date; provided, however, that installments of interest on this Security
whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holder of this Security, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all
as provided in the Indenture.] 

  
 A-4

 [If applicable, insert — The Securities are subject to redemption
(1) on             in any year commencing with the year             and ending with the
year             through operation of the sinking fund for this series at the Redemption Prices for redemption through operation of the sinking fund (expressed as percentages of the
principal amount) set forth in the table below, and (2) at any time [on or after             ], as a whole or in part, at the election of the Company, at the Redemption Prices for
redemption otherwise than through operation of the sinking fund (expressed as percentages of the principal amount) set forth in the table below: If redeemed during the 12-month period
beginning             of the years indicated, 
  

									
	 Year
	  	Redemption Price 
for
Redemption Through
Operation of the Sinking Fund	 	  	Redemption Price 
for
Redemption Otherwise Than
Through Operation of the
Sinking Fund	 
		  				  			
		  				  			

 and thereafter at a Redemption Price equal to     % of the principal amount, together in the
case of any such redemption (whether through operation of the sinking fund or otherwise) with accrued interest to the Redemption Date; provided, however, that installments of interest on this Security whose Stated Maturity is on or
prior to such Redemption Date will be payable to the Holder of this Security, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates referred to on the face hereof, all as provided in the Indenture.]

 [If applicable, insert — Notwithstanding the foregoing, the Company may not, prior to
            , redeem any Securities as contemplated by [Clause (2) of] the preceding paragraph as a part of, or in anticipation of, any refunding operation by the application, directly
or indirectly, of moneys borrowed having an interest cost to the Company (calculated in accordance with generally accepted financial practice) of less than     % per annum.] 

[If applicable, insert — The sinking fund for the Securities provides for the redemption on
             in each year, beginning with the year              and ending with the year
            , of [not less than] $            ] [(“mandatory sinking fund”) and not more than
$            ] aggregate principal amount of the Securities. [The Securities acquired or redeemed by the Company otherwise than through [mandatory] sinking fund payments may be credited
against subsequent [mandatory] sinking fund payments otherwise required to be made in the [describe order] order in which they become due.]] 
 Notice of redemption will be given by mail to Holders of Securities, not less than 30 nor more than 60 days prior to the Redemption Date, all as provided in the Indenture. 

  
 A-5

 In the event of redemption of this Security in part only, a new Security or Securities for
the unredeemed portion hereof shall be issued in the name of the Holder hereof upon the cancellation hereof. 
 [If applicable,
insert conversion provisions set forth in any Board Resolution or indenture supplemental to the Indenture.] 
 The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of not less than a majority of the aggregate principal amount of all Securities issued under the Indenture at the time Outstanding and affected thereby. The Indenture also contains provisions permitting the
Holders of not less than a majority of the aggregate principal amount of the Outstanding Securities, on behalf of the Holders of all such Securities, to waive compliance by the Company with certain provisions of the Indenture. Furthermore,
provisions in the Indenture permit the Holders of not less than a majority of the aggregate principal amount, in certain instances, of the Outstanding Securities of any series to waive, on behalf of all of the Holders of Securities of such series,
certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and other Securities issued
upon the registration of transfer hereof or conversion or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 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 premium or Make-Whole Amount, if any) and interest on this Security at the times, places and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein [and herein] set forth, the transfer of this Security is registrable in the Security Register of the Company 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 premium or Make-Whole Amount, if any) 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 Security Registrar duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon one or more new Securities, of authorized denominations and for
the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 As provided in the Indenture
and subject to certain limitations therein [and herein] set forth, this Security is exchangeable for a like aggregate principal amount of Securities of different authorized denominations but otherwise having the same terms and conditions, as
requested by the Holder hereof surrendering the same. 
 The Securities of this series are issuable only in registered form
[without coupons] in denominations of $         and any integral multiple thereof. 

  
 A-6

 No service charge shall be made for any such registration of transfer or conversion 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. 

No recourse shall be had for the payment of the principal of or premium or Make-Whole Amount, if any, or the interest on this Security,
or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any past, present or future stockholder, employee, officer or director, as such, of the Company
or of any successor, either directly or through the Company or any successor, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance
hereof and as part of the consideration for the issue hereof, expressly waived and released. 
 The Indenture and the Securities
shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements made and to be performed entirely in such State. 

  
 A-7

 EXHIBIT B 
 FORMS OF CERTIFICATION 
 EXHIBIT B-1 

FORM OF CERTIFICATE TO BE GIVEN BY PERSON ENTITLED TO RECEIVE BEARER 

SECURITY OR TO OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE DATE 
 CERTIFICATE 
 [Insert title or sufficient description of Securities to be
delivered] 
 This is to certify that, as of the date hereof, and except as set forth below, the above-captioned Securities held
by you for our account (i) are owned by person(s) that are not citizens or residents of the United States, domestic partnerships, domestic corporations or any estate or trust the income of which is subject to United States Federal income
taxation regardless of its source (“United States person(s)”), (ii) are owned by United States person(s) that are (a) foreign branches of United States financial institutions (financial institutions, as defined in United States
Treasury Regulations Section 2.165-12(c)(1)(v) are herein referred to as “financial institutions”) purchasing for their own account or for resale, or (b) United States person(s) who acquired the Securities through foreign
branches of United States financial institutions and who hold the Securities through such United States financial institutions on the date hereof (and in either case (a) or (b), each such United States financial institution hereby agrees, on
its own behalf or through its agent, that you may advise Solitario Exploration & Royalty Corp. or its agent that such financial institution will comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the United
States Internal Revenue Code of 1986, as amended, and the regulations thereunder), or (iii) are owned by United States or foreign financial institution(s) for purposes of resale during the restricted period (as defined in United States Treasury
Regulations Section 1.163-5(c)(2)(i)(D)(7)), and, in addition, if the owner is a United States or foreign financial institution described in clause (iii) above (whether or not also described in clause (i) or (ii)), this is to further
certify that such financial institution has not acquired the Securities for purposes of resale directly or indirectly to a United States person or to a person within the United States or its possessions. 

As used herein, “United States” means the United States of America (including the States and the District of Columbia); and its
“possessions” include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. 
 We undertake to advise you promptly by tested telex or by telecopy on or prior to the date on which you intend to submit your certification relating to the above-captioned Securities held by you for our
account in accordance with your operating procedures if any applicable statement herein is not correct on such date, and in the absence of any such notification it may be assumed that this certification applies as of such date. 

This certificate excepts and does not relate to [U.S.$] of such interest in the above-captioned Securities in respect of which we are not
able to certify and as to which we understand an exchange for an interest in a permanent Global Security or an exchange for and delivery of definitive Securities (or, if relevant, collection of any interest) cannot be made until we do so certify.

  
 B-1

 We understand that this certificate may be required in connection with certain tax
legislation in the United States. If administrative or legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate or a copy thereof to any
interested party in such proceedings. 
 Dated:
                     
 [To be dated no earlier than the 15th day prior to (i) the Exchange Date or (ii) the relevant Interest Payment Date occurring prior to the Exchange Date, as applicable] 

 

	
	[Name of Person Making Certification]
	
	  

	(Authorized Signature)
	Name:
	Title:

  
 B-2

 EXHIBIT B-2 
 FORM OF CERTIFICATE TO BE GIVEN BY EUROCLEAR AND CLEARSTREAM S.A. IN 
 CONNECTION
WITH THE EXCHANGE OF A PORTION OF A TEMPORARY GLOBAL 
 SECURITY OR TO OBTAIN INTEREST PAYABLE PRIOR TO THE EXCHANGE DATE

 CERTIFICATE 
 [Insert title or sufficient description of Securities to be delivered] 
 This is
to certify that, based solely on written certifications that we have received in writing, by tested telex or by electronic transmission from each of the persons appearing in our records as persons entitled to a portion of the principal amount set
forth below (our “Member Organizations”) substantially in the form attached hereto, as of the date hereof, [U.S.$] principal amount of the above-captioned Securities (i) is owned by person(s) that are not citizens or residents of the
United States, domestic partnerships, domestic corporations or any estate or trust the income of which is subject to United States Federal income taxation regardless of its source (“United States person(s)”), (ii) is owned by United
States person(s) that are (a) foreign branches of United States financial institutions (financial institutions, as defined in U.S. Treasury Regulations Section 1.165-12(c)(1)(v) are herein referred to as “financial institutions”)
purchasing for their own account or for resale, or (b) United States person(s) who acquired the Securities through foreign branches of United States financial institutions and who hold the Securities through such United States financial
institutions on the date hereof (and in either case (a) or (b), each such financial institution has agreed, on its own behalf or through its agent, that we may advise Solitario Exploration & Royalty Corp. or its agent that such
financial institution will comply with the requirements of Section 165(j)(3)(A), (B) or (C) of the Internal Revenue Code of 1986, as amended, and the regulations thereunder), or (iii) is owned by United States or foreign
financial institution(s) for purposes of resale during the restricted period (as defined in United States Treasury Regulations Section 1.163-5(c)(2)(i)(D)(7)), and, to the further effect, that financial institutions described in clause
(iii) above (whether or not also described in clause (i) or (ii)) have certified that they have not acquired the Securities for purposes of resale directly or indirectly to a United States person or to a person within the United States or
its possessions. 
 As used herein, “United States” means the United States of America (including the States and the
District of Columbia); and its “Possessions” include Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands. 
 We further certify that (i) we are not making available herewith for exchange (or, if relevant, collection of any interest) any portion of the temporary Global Security representing the
above-captioned Securities excepted in the above-referenced certificates of Member Organizations and (ii) as of the date hereof we have not received any notification from any of our Member Organizations to the effect that the statements made by
such Member Organizations with respect to any portion of the part submitted herewith for exchange (or, if relevant, collection of any interest) are no longer true and cannot be relied upon as of the date hereof. 

We understand that this certification is required in connection with certain tax legislation in the United States. If administrative or
legal proceedings are commenced or threatened in connection with which this certificate is or would be relevant, we irrevocably authorize you to produce this certificate or a copy thereof to any interested party in such proceedings. 

  
 B-3

 Dated:
                     
 [To be dated no earlier than the Exchange Date or the relevant Interest Payment Date occurring prior to the Exchange Date, as applicable] 

[Morgan Guaranty Trust Company of New York, Brussels Office, as Operator of the Euroclear System Clearstream Banking Luxembourg]

  

			
	By:	 	  

		
		 	Name:
		
		 	Title:

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