Document:

Exhibit 10.6

 

 

 

 

 

PURCHASE AND SALE AGREEMENT

 

 

 

by and between

 

 

USPF IV LAUREL RETAIL OWNER, L.P.,

a Delaware limited partnership

 

 

and

 

 

ARC NYC400E67, LLC

a Delaware limited liability company

 

 

Property Name: The Laurel Retail Condominium

Location: 400 East 67th Street,
New York, NY 10065

 

 

 

Effective Date: August 8, 2014

 

    	 

    	 

    

 

PURCHASE AND SALE AGREEMENT

 

 

THIS PURCHASE AND
SALE AGREEMENT (this “Agreement”) is made to be effective as of August 8, 2014 (the “Effective
Date”) by and between USPF IV LAUREL RETAIL OWNER, L.P., a Delaware limited partnership (“Seller”),
and ARC NYC400E67, LLC, a Delaware limited liability company (“Buyer”).

 

W I T N E S S E T H:

 

In consideration of
the mutual covenants and agreements set forth herein the parties hereto do hereby agree as follows:

 

ARTICLE
1 - CERTAIN DEFINITIONS

 

In addition to terms
defined elsewhere in this Agreement, as used herein, the following terms shall have the following meanings:

 

“Act” is defined
in Section 4.2.5.

 

“Business Day”
shall mean any day other than Saturday, Sunday, any Federal holiday, or any holiday in the State in which the Property is located.
If any period expires or action is to be taken on a day which is not a Business Day, the time frame for the same shall be extended
until the next Business Day.

 

“Buyer’s Representatives”
shall mean Buyer and any officers, directors, employees, agents, consultants, representatives and attorneys of Buyer or any direct
or indirect owner of any beneficial interest in Buyer, but only if the same conduct due diligence or are otherwise involved in
the Transaction.

 

“Closing”
shall mean the closing of the Transaction.

 

“Closing Date”
shall mean the day that the Transaction closes, which shall not be later than the Scheduled Closing Date.

 

“Closing Documents”
shall mean all documents executed and delivered by Buyer or Seller as required by Section 6.2 and Section 6.3
or as otherwise executed and delivered by Buyer or Seller as part of the Closing.

 

“Condominium”
shall be The Laurel Condominium.

 

“Condominium Board”
shall be the board of managers of the Condominium pursuant to the Condominium Documents.

 

“Condominium Documents”
shall mean the Declaration dated October 6, 2008 recorded in the New York County Office of the Register of The City of New York
on November 3, 2008 at CRFN 2008000427186 (and the By-Laws attached thereto) also designated as Tax Lots 1208, 1209 and 1210, respectively,
Block 1461 on Tax Map Real Property Assessment Department of The City of New York for The Borough of Manhattan & County of
New York, as amended.

 

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“Contracts”
shall mean the contracts, equipment leases, and other agreements relating to the Real Property that are described in Exhibit B
attached hereto, together with any additional contracts, equipment leases and agreements and any modifications of any of the foregoing
that are entered into in accordance with the terms of Section 8.1.

 

“deemed to know”
(or words of similar import) shall have the following meaning: Buyer and the Buyer’s Representatives shall be “deemed
to know” any fact, circumstance or information or shall have “deemed knowledge” of the same to the
extent (a) any Buyer’s Representative has actual knowledge of a particular fact or circumstance or information that
is inconsistent with any Seller’s Warranty, or (b) this Agreement, the Closing Documents executed and delivered by Seller,
the documents and materials with respect to the Property delivered or made available to any Buyer’s Representative in connection
with the Transaction, any estoppel certificate executed by any tenant of the Property, or any reports prepared or obtained by any
Buyer’s Representatives in connection with Buyer’s due diligence discloses a particular fact or circumstance or contains
information which is inconsistent with any Seller’s Warranty. For purposes of this Agreement, documents and materials shall
be deemed to have been “made available” to Buyer’s Representatives only if the same are located at a designated
physical or on-line location.

 

“Deposit”
shall mean the sum of Seven Million Six Hundred Thousand Dollars ($7,600,000), together with any interest earned thereon.

 

“Disclosure Statement”
is defined in Section 4.2.5.

 

“Escrow Agent”
First American Title Insurance Company, in its capacity as escrow agent, whose mailing address is 633 Third Avenue, New York, New
York 10017, Attention: Stephen Farber (telephone number: (212) 551-9402, e-mail address: sfarber@firstam.com).

 

“Laws” shall
mean all municipal, county, State or Federal statutes, codes, ordinances, laws, rules or regulations.

 

“Leases” shall
mean, collectively, (i) that certain Lease, dated as of October 5, 2007, between 1240 First Avenue LLC and Cornell University for
and on behalf of its Joan & Sandford I. Weill Medical College, as affected by that certain Stipulation of Settlement Entered
by the Civil Court of the City of New York, New York County on July 6, 2011, (ii) that certain Lease, dated as of March 30, 2009,
between 1240 First Avenue LLC and Quik Park East 67th Street LLC, as affected by that certain First Amendment of Lease,
dated as of November 15, 2011, between USPF IV Laurel Retail Owner, L.P. and Quik Park East 67th Street LLC and (iii)
that certain Lease, dated as of January 8, 2010, between 1240 First Avenue LLC and TD Bank, NA.

 

“Liabilities”
shall mean, collectively, any and all conditions, losses, costs, damages, claims, liabilities, expenses, demands or obligations
of any kind or nature whatsoever.

 

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“Owner’s Title
Policy” shall mean an ALTA owner’s extended coverage title insurance policy issued by the Title Company in the
amount of the Purchase Price.

 

“Permitted Exceptions”
shall mean and include all of the following: (a) applicable zoning, building and land use Laws, (b) such state of facts
as would be disclosed by a physical inspection of the Property, (c) the lien of taxes, assessments and other governmental
charges or fees not yet due and payable, (d) any exceptions caused by any Buyer’s Representative, (e) any exception
that the Title Company agrees to affirmatively insure over in accordance with the terms hereof, (f) the rights of the Tenants
under the Leases, (g) any matters which Buyer is deemed to know about prior to the Effective Date, including, without limitation,
all matters listed in Seller’s Title Policy and/or in any title report obtained by Buyer on or before the Effective Date,
and (h) any matters deemed to constitute additional Permitted Exceptions under Section 3.1. Permitted Exceptions
shall not include any matters of record created by Seller in violation of Section 8.1. Notwithstanding any provision
to the contrary contained in this Agreement or any of the Closing Documents, any or all of the Permitted Exceptions may be omitted
by Seller in the Deed (as hereinafter defined) without giving rise to any liability of Seller, irrespective of any covenant or
warranty of Seller that may be contained in the Deed (which provisions shall survive the Closing and not be merged therein).

 

“Property”
shall mean, collectively, (a) the Real Property, (b) the “Personal Property” as defined in the Bill
of Sale attached hereto as Exhibit E, (c) the Leases, and (d) the “Intangible Property”
as defined in the Assignment Agreement attached hereto as Exhibit F.

 

“Protected Information”
shall mean any books, records or files (whether in a printed or electronic format) that consist of or contain any of the following:
Seller’s organizational documents or files or records relating thereto; appraisals; budgets; strategic plans for the Property;
internal analyses; information regarding the marketing of the Property for sale; submissions relating to obtaining internal authorization
for the sale of the Property by Seller or any direct or indirect owner of any beneficial interest in Seller; attorney and accountant
work product; attorney-client privileged documents; internal correspondence of Seller, any direct or indirect owner of any beneficial
interest in Seller, or any of their respective affiliates and correspondence between or among such parties; or other information
in the possession or control of Seller, Seller’s Property Manager or any direct or indirect owner of any beneficial interest
in Seller which such party reasonably deems confidential, proprietary, or privileged.

 

“Real Property”
shall mean the three (3) condominium units legally described in Exhibit A attached hereto, together with all
improvements and fixtures located thereon and owned by Seller as of the Closing and any rights, privileges and appurtenances pertaining
thereto.

 

“Remove” with
respect to any exception to title shall mean that Seller causes the Title Company to remove of record or affirmatively insure over
the same, without any additional cost to Buyer, whether such removal or insurance is made available in consideration of payment,
bonding, indemnity of Seller or otherwise; provided, however, Seller shall only be permitted to cause the Title Company
to insure over the following title exceptions: (a)  any liens evidencing monetary encumbrances not exceeding individually
or in the aggregate $100,000, and (b) other title encumbrances (other than Required Removal Exceptions) to the extent that Buyer
consents thereto (which consent shall not be unreasonably withheld, conditioned or delayed).

 

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“Report” is
defined in Section 4.2.5.

 

“Required Removal Exceptions”
shall mean, collectively, (i) liens evidencing monetary encumbrances (other than liens for non-delinquent real estate taxes
that are to be apportioned at Closing pursuant to the terms hereof) created as a result of the intentional acts or omissions of
Seller, its agents or affiliates, (including, without limitation the liens of any mortgages), (ii) liens evidencing monetary encumbrances
(other than liens for non-delinquent real estate taxes and liens described in item (i) of this definition) that do not individually
or in the aggregate exceed $100,000, (iii) title matters created by Seller, its agents or affiliates in violation of the terms
of this Agreement, and (iv) mechanics liens resulting from work performed by Seller for any of the Tenants; and (v) any exception
to title that Seller has specifically agreed in writing to Remove pursuant to the terms of Section 3.1(c).

 

“Scheduled Closing Date”
shall mean September 4, 2014, as the same may be extended pursuant to the express terms of this Agreement.

 

“Seller Parties”
shall mean and include, collectively, (a) Seller; (b) its counsel; (c) Seller’s Broker; (d) Seller’s
Property Manager; (e) any direct or indirect owner of any beneficial interest in Seller; (f) any officer, director, employee,
or agent of Seller, its counsel, Seller’s Broker, Seller’s Property Manager or any direct or indirect owner of any
beneficial interest in Seller; and (g) any other entity or individual affiliated or related in any way to any of the foregoing.

 

“Seller’s Broker”
shall mean Savills Studley.

 

“Seller’s Knowledge”
or words of similar import shall refer only to the current actual knowledge of (i) James L. Street, an officer of Prudential Investment
Management, Inc. responsible for the Transaction, (ii) Gregory Killeen, the asset manager employed by Prudential Investment Management,
Inc. with primary responsibility for the Property, (iii) Barry Howell, and (iv) David Pahl (collectively, the “Designated
Representatives”) and shall not be construed to impose upon the Designated Representatives any duty to investigate (beyond
inquiry of Seller’s Property Manager) the matters to which such knowledge, or the absence thereof, pertains, including, but
not limited to, the contents of the materials delivered or made available to Buyer’s Representatives or the contents of files
maintained by the Designated Representatives. There shall be no personal liability on the part of the Designated Representatives
arising out of any of the Seller’s Warranties.

 

“Seller’s Property
Manager” shall mean MadCap Partners LLC, a New York limited liability company.

 

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“Seller’s Title
Policy” shall mean the title insurance policy issued to Seller by Commonwealth Land Title Insurance Company provided
to Buyer prior to the Effective Date.

 

“Seller’s Warranties”
shall mean Seller’s representations and warranties set forth in Section 7.2 and in the Closing Documents executed
by Seller for the benefit of Buyer, as such representations and warranties may be deemed modified or waived by Buyer pursuant to
the terms of this Agreement.

 

“Survey” shall
mean the survey delivered by Seller to Buyer prior to the Effective Date.

 

“Tenants”
shall mean, collectively, (i) Cornell University for and on behalf of its Joan & Sandford I. Weill Medical College, (ii) Quik
Park East 67th Street LLC and (iii) TD Bank, N.A.

 

“Title
Company” shall mean First American Title Insurance Company.

 

“Transaction”
shall mean the transaction contemplated by this Agreement.

 

ARTICLE
2 - SALE OF PROPERTY

 

Subject to the terms
of this Agreement and the Closing Documents, Seller agrees to sell and Buyer agrees to purchase all of Seller’s right, title
and interest in and to the Property. In consideration therefor, Buyer shall pay to Seller Seventy-Six Million Dollars ($76,000,000)
(the “Purchase Price”). The Purchase Price shall be paid as follows:

 

2.1Payment of
Deposit. Buyer has paid the Deposit to Escrow Agent. .

 

2.2Applicable
Terms. Except as expressly otherwise set forth herein, the Deposit shall be applied against the Purchase Price at the Closing
and shall otherwise be held and delivered by Escrow Agent in accordance with the provisions of Exhibit C.

 

2.3Cash at Closing.
On the Scheduled Closing Date, Buyer shall (a) deposit into escrow with the Escrow Agent an amount equal to the balance of
the Purchase Price in immediately available funds as more particularly set forth in Section 6.1, as prorated and adjusted
as set forth in Article 5, Section 6.1, or as otherwise provided under this Agreement, and (b) authorize
and direct the Escrow Agent to simultaneously pay the Deposit into such escrow.

 

ARTICLE
3 - TITLE MATTERS

 

3.1Title Defects.

 

(a)Buyer
hereby confirms receipt of: (y) Seller’s Title Policy and (z) the Survey. From and after the Effective Date, Buyer
shall have the right to object in writing to any title and/or survey matters which are not Permitted Exceptions and which materially
adversely affect title to or the marketability of the Real Property (as reasonably determined by Buyer in good faith) if such
objection is made to Seller by written notice from Buyer within five (5) Business Days after Buyer becomes aware of such matters
(but, in any event, prior to the Scheduled Closing Date) (each such written notice, a “Buyer Objection Notice” and
each such matter to which Buyer objects in writing, an “Objectionable Matter”). Unless Buyer is entitled to and timely
objects to such title matters (other than Required Removal Exceptions), all such title matters shall be deemed to constitute additional
Permitted Exceptions.

 

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(b)If
this Agreement is not terminated by Buyer in accordance with the provisions hereof, Seller shall, at Closing, Remove all Required
Removal Exceptions. If Seller is unable to Remove any Required Removal Exceptions prior to the Closing, Buyer may at Closing elect
to either (i) exercise Buyer’s rights under Section 9.2, or (ii) accept such exceptions to title and
the Closing shall occur as herein provided without any reduction of or credit against the Purchase Price.

 

(c)With
respect to any Objectionable Matter that is not a Required Removal Exception, Seller may elect to Remove such Objectionable Matter
and Seller may notify Buyer in writing within five (5) Business Days after receipt of a Buyer Objection Notice listing any such
Objectionable Matters (but, in any event, prior to the Scheduled Closing Date) whether Seller elects to Remove the same. Failure
of Seller to respond in writing within such period shall be deemed an election by Seller not to Remove Buyer’s Objectionable
Matters. If Seller elects or is deemed to have elected not to Remove one or more of such Objectionable Matters, then, within five
(5) Business Days after Seller’s election or deemed election (but, in any event, prior to the Scheduled Closing Date), Buyer
may elect in writing to either (i) terminate this Agreement, in which event the Deposit shall be paid to Buyer and, thereafter,
the parties shall have no further rights or obligations hereunder except for obligations which expressly survive the termination
of this Agreement, or (ii) waive such Objectionable Matters and proceed to Closing without any reduction of or credit against
the Purchase Price. Failure of Buyer to respond in writing within such period shall be deemed an election by Buyer to waive such
Objectionable Matters and proceed to Closing. Any such Objectionable Matter so waived (or deemed waived) by Buyer shall constitute
a Permitted Exception.

 

(d)Seller
shall be entitled to one or more extensions of the Scheduled Closing Date (not to exceed forty-five (45) days in the aggregate)
with all other extensions of the Scheduled Closing Date contained herein) for the purpose of the Removal of any Objectionable Matter.
Seller shall have the right to replace the Title Company with another nationally recognized title insurance company reasonably
satisfactory to Buyer if the Title Company fails or refuses to Remove any Objectionable Matter that Seller elects or is required
to Remove.

 

3.2Title Insurance.
At Closing, the Title Company shall issue the Owner’s Title Policy to Buyer, insuring that title to the Real Property is
vested in Buyer subject only to the Permitted Exceptions. Buyer may request that the Title Company provide endorsements to the
Owner’s Title Policy, provided that (a) such endorsements shall be at no cost to, and shall impose no additional liability
on, Seller, (b) Buyer’s obligations under this Agreement shall not be conditioned upon Buyer’s ability to obtain
such endorsements, and (c) the Closing shall not be delayed as a result of Buyer’s request.

 

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ARTICLE
4 - BUYER’S DUE DILIGENCE/AS-IS SALE

 

4.1Buyer’s
Due Diligence. All due diligence performed by Buyer’s Representatives shall have been performed in accordance with and
subject to the terms of that certain Property Access Agreement, dated as of August 4, 2014, by and between Seller and Buyer (or
Buyer’s predecessor), which agreement is hereby incorporated herein and Buyer and Seller hereby ratify and confirm their
respective obligations under the aforementioned agreement. To the extent any provisions of the Property Access Agreement conflict
with the provisions of this Agreement, the provisions of this Agreement shall control. Buyer, in its sole and absolute discretion,
has performed such due diligence with respect to the Property and the Transaction as Buyer has elected, and Buyer is satisfied
with the results of all of such due diligence. Accordingly, Buyer shall be deemed to have waived its rights to terminate this Agreement,
except as otherwise expressly provided herein.

 

4.2As-Is Provisions.

 

4.2.1As-Is
Sale. Buyer acknowledges and agrees that:

 

(a)Buyer
has conducted such due diligence as Buyer has deemed necessary or appropriate.

 

(b)Subject
to Seller’s Warranties, the Property shall be sold, and Buyer shall accept possession of the Property as of the Closing,
“AS IS, WHERE IS, WITH ALL FAULTS”, with no right of setoff or reduction in the Purchase Price, except as expressly
set forth to the contrary in this Agreement and the Closing Documents.

 

(c)Except
for Seller’s Warranties, none of the Seller Parties shall be deemed to have made any verbal or written representations, warranties,
promises or guarantees (whether express, implied, statutory or otherwise) to Buyer with respect to the Property, any matter set
forth, contained or addressed in the materials delivered or made available to Buyer’s Representatives or the results of Buyer’s
due diligence.

 

(d)Buyer
has independently confirmed to its satisfaction all information that it considers material to its purchase of the Property or the
Transaction.

 

4.2.2Release.
By accepting the Deed and closing the Transaction, Buyer, on behalf of itself and its successors and assigns, shall thereby release
each of the Seller Parties from, and waive any and all Liabilities against each of the Seller Parties for, attributable to, or
in connection with the Property, whether arising or accruing before, on or after the Closing and whether attributable to events
or circumstances which arise or occur before, on or after the Closing, including, without limitation, the following: (a) any
and all statements or opinions heretofore or hereafter made, or information furnished, by any Seller Parties to any Buyer’s
Representatives; and (b) any and all Liabilities with respect to the structural, physical, or environmental condition of the
Property, including, without limitation, all Liabilities relating to the release, presence, discovery or removal of any hazardous
or regulated substance, chemical, waste or material that may be located in, at, about or under the Property, or connected with
or arising out of any and all claims or causes of action based upon CERCLA (Comprehensive Environmental Response, Compensation,
and Liability Act of 1980, 42 U.S.C. §§9601 et seq., as amended by SARA (Superfund Amendment and Reauthorization
Act of 1986) and as may be further amended from time to time), the Resource Conservation and Recovery Act of 1976, 42 U.S.C. §§6901
et seq., or any related claims or causes of action (collectively, “Environmental Liabilities”); and (c) any
implied or statutory warranties or guaranties of fitness, merchantability or any other statutory or implied warranty or guaranty
of any kind or nature regarding or relating to any portion of the Property. Notwithstanding the foregoing, the foregoing release
and waiver is not intended and shall not be construed as affecting or impairing any rights or remedies that Buyer may have against
Seller with respect to (i) a breach of any of Seller’s Warranties, (ii) any of the obligations of Seller under
this Agreement or the Closing Documents that expressly survive the Closing, or (iii) any acts constituting fraud by Seller.

 

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4.2.3Assumption
of Liability. By accepting the Deed and closing the Transaction, as between the Seller Parties and Buyer (but without limiting
any rights of Buyer as against the Tenant or any third parties), Buyer shall thereby assume and take responsibility and liability
for the following: (a) any and all Liabilities attributable to the Property to the extent that the same arise or accrue on
or after the Closing and are attributable to events or circumstances which arise or occur on or after the Closing; and (b) any
and all Liabilities with respect to the structural, physical or environmental condition of the Property, whether such Liabilities
are latent or patent, whether the same arise or accrue before, on or after the Closing, and whether the same are attributable to
events or circumstances which may arise or occur before, on or after the Closing, including, without limitation, all Environmental
Liabilities; and (c) any and all Liabilities that arose or accrued prior to the Closing or are attributable to events which
arose or occurred prior to the Closing, but only if Buyer is deemed to know about the same on or before the Closing; and (d) any
and all Liabilities to the extent that the same arise or accrue as a result of any tort claims in connection with any injury that
arose or occurred prior to Closing, but only if Buyer has the right to seek recovery from any tenants or previous tenants of the
Property with respect to such tort claims; and (e) any and all Liabilities with respect to which Buyer receives a credit at
Closing, but only to the extent of such credit. Buyer acknowledges and agrees that the Liabilities to be assumed by Buyer pursuant
to each of the foregoing clauses are intended to be independent of one another, so Buyer shall assume Liabilities described in
each of the clauses even though some of those Liabilities may be read to be excluded by another clause. Notwithstanding the foregoing,
(1) the foregoing release and waiver is not intended and shall not be construed as affecting or impairing any rights or remedies
that Buyer may have against Seller with respect to (i) a breach of any of Seller’s Warranties, (ii) any of the
obligations of Seller under this Agreement or the Closing Documents that expressly survive the Closing, or (iii) any acts
constituting fraud by Seller, and (2) any tort claims brought with respect to the Property, to the extent that the same arise or
accrue as a result of events that occurred prior to the Closing, shall not be assumed by Buyer as a result of clause (b) or clause
(c) except to the extent the same are caused by the acts or omissions of any Buyer’s Representatives.

 

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4.2.4Successors
and Assigns. The provisions of this Section 4.2 shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns.

 

4.2.5Intentionally
Omitted.

 

4.2.6Intentionally
Omitted.

 

4.2.7Reaffirmation
and Survival. The provisions of this Section 4.2 shall be deemed reaffirmed by Buyer by acceptance of the Deed
and shall survive the Closing.

 

4.3Limitation
on Seller’s Liability.

 

4.3.1Maximum
Aggregate Liability. Notwithstanding any provision to the contrary contained in this Agreement or the Closing Documents, the
maximum aggregate liability of the Seller Parties, and the maximum aggregate amount which may be awarded to and collected by Buyer,
in connection with the Transaction, the Property, under this Agreement, and under all Closing Documents (including, without limitation,
in connection with the breach of any of Seller’s Warranties for which a claim is timely made by Buyer) shall not exceed One
Million Nine Hundred and Forty Thousand Dollars ($1,940,000). Notwithstanding the foregoing, the foregoing liability cap shall
not apply to claims by Buyer against Seller for (i) fraud, (ii) reimbursements actually owed to the Tenants on account of periods
prior to the Closing Date for reimbursements under their Leases, (iii) amounts owed to Seller’s Broker in connection with
the Transaction, and (iv) amounts owed by Seller under Section 8.3 or Section 8.6(b).

 

4.3.2Survival.
The provisions of this Section 4.3 shall survive the Closing (and not be merged therein) or any earlier termination
of this Agreement.

 

ARTICLE
5 - ADJUSTMENTS AND PRORATIONS

 

5.1Proration
of Income.

 

5.1.1Rents.
For purposes of this Agreement, “Rents” shall mean all base rents, additional rent and any tax and operating
expense reimbursements and escalations due from the Tenants under the Leases. All collected Rents and other income from Property
operations shall be prorated between Seller and Buyer as of 12:01 a.m. on the Closing Date. Rents or other income from Property
operations not collected as of the Closing shall not be prorated at the time of Closing.

 

5.1.2Post-Closing
Collections. After Closing, Buyer shall make a good faith effort to collect any Rents or other revenues not collected as of
the Closing on Seller’s behalf and to tender the same to Seller upon receipt; provided, however, all Rents
collected by Buyer or Seller after the Closing shall first be applied to all amounts due under the Leases at the time of collection
(i.e., current Rents and sums due Buyer as the current owner and landlord) with the balance (if any) payable to Seller,
but only to the extent of amounts delinquent and actually due Seller. Buyer shall not have an exclusive right to collect Rents
or other revenue due Seller and Seller hereby retains its rights to pursue claims against Tenants or any other party for sums due
with respect to periods prior to the Closing Date; provided, however, with respect to any legal proceedings against
any tenant under a Lease, Seller (a) shall be required to notify Buyer in writing of its intention to pursue such legal proceedings;
(b) shall only be permitted to pursue any legal proceedings after the date which is ninety (90) days after the Closing Date;
and (c) shall not be permitted to pursue any legal proceedings against Tenants seeking eviction of the Tenants or the termination
of the underlying Leases. The terms of this section shall survive the Closing and not be merged therein.

 

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5.1.3Cash
Security Deposits. At Closing, Seller shall give Buyer a credit against the Purchase Price in the aggregate amount of any cash
security deposits and/or impound accounts, if any, held by Seller under the Leases.

 

5.2Proration
of Taxes and Other Property Expenses.

 

5.2.1Proration
of Ad Valorem Taxes. All general real estate and ad valorem taxes and other state, county or municipal taxes,
charges and assessments affecting the Property will be prorated as of 12:01 a.m. on the Closing Date, based on (if applicable)
the maximum discount available for early payment. In the event final, current bills for such taxes are not available at Closing,
such taxes will be prorated on the basis of the taxes for most recent year for which final bills are available.

 

5.2.2Common
Condominium Charges and Special Assessments. Seller shall pay all installments of Condominium common charges under the Condominium
Documents and special assessments due and payable prior to the Closing Date and Buyer shall pay all installments of Condominium
common charges under the Condominium Documents and special assessments due and payable on and after the Closing Date; provided,
however, if the owner of the Property has the election to pay any such special assessment over time, Seller may elect to
do so, which election shall be binding on Buyer.

 

5.2.3Other
Property Operating Expenses. Operating expenses for the Property shall be prorated as of 12:01 a.m. on the Closing Date. To
the extent that the amount of actual consumption of any utility services is not determined prior to the Closing Date, a proration
shall be made at Closing based on the last available reading and post-closing adjustments between Buyer and Seller shall be made
within twenty (20) days of the date that actual consumption for such pre-closing period is determined, which obligation shall survive
the Closing and not be merged therein. Seller shall not assign to Buyer any deposits which Seller has with any of the utility services
or companies servicing the Property. Buyer shall arrange with such services and companies to have accounts opened in Buyer’s
name beginning at 12:01 a.m. on the Closing Date.

 

5.2.4Expenses
Payable by Tenants. Notwithstanding anything to the contrary herein, there shall be no proration of real estate taxes or other
operating expenses (and, as between Buyer and Seller, Buyer shall be responsible for the same) if and to the extent the same are
payable by Tenants under the Leases, except to the extent that Seller has collected payment of such amounts.

 

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5.2.5Lease
Expenses. At Closing, (a) Buyer and Seller shall prorate any and all Lease Expenses (as hereinafter defined) paid or incurred
by Seller prior to Closing arising out of or in connection with any modifications of any Lease approved by Buyer in writing entered
into between the Effective Date and the Closing; and (b) Seller shall give Buyer a credit for any and all unpaid and due and
owing Lease Expenses owed to or for the benefit of Tenants with respect to the Leases. For purposes of determining Buyer’s
and Seller’s pro rata share of the amounts to be prorated pursuant to clause (a), such Lease Expenses
shall be amortized over the full term of the subject Lease or modification, as the case may be, and apportioned between Buyer and
Seller as of 12:01 a.m. on the Closing Date based upon the proportion of the affected term of the applicable Lease or modification
that falls within each of Buyer’s and Seller’s period of ownership of the Property. “Lease Expenses”
shall mean, collectively, any and all costs, expenses and fees paid or incurred by Seller prior to Closing in connection with the
Leases or any modification thereof, including, without limitation, (i) brokerage commissions, (ii) expenses incurred
for improvements to the premises, (iii) legal fees reasonably and actually incurred, (iv) free rent, rent abatements,
or rent concessions, and (v) expenses reasonably and actually incurred to satisfy or terminate the obligations of a tenant
under another lease.

 

5.3Closing Costs.
Closing costs shall be allocated between Buyer and Seller in accordance with local custom. For the avoidance of doubt:

 

(a)Buyer
shall pay the following closing costs: (i) all premiums and charges of the Title Company for extended coverage and all endorsements
desired by Buyer with respect to the Owner’s Title Policy, (ii) the cost of any update to the Survey, (iii) all
recording and filing charges in connection with the Deed, (iv) one half of all escrow or closing charges, (v) the commission
due any broker representing Buyer, (vi) all fees due its attorneys and all costs of Buyer’s due diligence, including
fees due its consultants, and (vii) all lenders’ fees, mortgage taxes, and similar charges, if any, related to any financing
to be obtained by Buyer.

 

(b)Seller
shall pay the following closing costs: (i) one half of all escrow or closing charges, (ii) the commission due Seller’s
Broker, (iii) all fees due its attorneys, (iv) any transfer taxes applicable to the transfer of the Property to Buyer, and
(v) all costs incurred in connection with causing the Title Company to Remove any Required Removal Exceptions.

 

The obligations of the parties under this
section shall survive the Closing (and not be merged therein) or any earlier termination of this Agreement.

 

5.4Delayed Adjustment;
Delivery of Financial Data. No later than March 31 of the first calendar year following the year in which the Closing occurs,
Buyer shall prepare and present to Seller a recalculation of any and all amounts due or subject to proration under this Article 5
(taking into consideration any errors and changes necessary because of the lack of complete or accurate information as of the Closing
Date) as well as supporting documentation for such recalculation. The parties shall make the appropriate adjusting payment between
them within thirty (30) days after delivery of any such recalculation. The provisions of this section shall survive the Closing
and not be merged therein.

 

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ARTICLE
6 - CLOSING

 

6.1Closing Mechanics.

 

(a)The
parties shall conduct an escrow-style closing through the Escrow Agent so that it will not be necessary for any party to attend
the Closing.

 

(b)Provided
all conditions precedent to Seller’s obligations hereunder have been satisfied, Seller agrees to convey the Property to Buyer
upon confirmation of receipt of the Purchase Price by the Escrow Agent as set forth below. Provided all conditions precedent to
Buyer’s obligations hereunder have been satisfied, Buyer agrees to pay the amount specified in Section 2.3 by
timely delivering the same to the Escrow Agent on the Scheduled Closing Date and unconditionally authorizing and directing the
Escrow Agent no later than 2:00 p.m. Eastern Time on the Scheduled Closing Date to deposit the same in Seller’s designated
account.

 

(c)The
items to be delivered by Seller or Buyer in accordance with the terms of Sections 6.2 or 6.3 shall be delivered
to Escrow Agent no later than 5:00 p.m. Eastern Time on the last Business Day prior to the Scheduled Closing Date except that (i) the
items in the paragraph entitled “Keys and Original Documents” shall be delivered by Seller at the Property or made
available for pick-up from Seller’s Property Manager on the Closing Date, and (ii) the Purchase Price shall be delivered
by Buyer in accordance with the terms of Section 6.1(b).

 

6.2Seller’s
Closing Deliveries. At Closing, Seller shall deliver the following:

 

(a)Deed.
A deed in the form of Exhibit D attached hereto (“Deed”), executed and acknowledged by Seller.

 

(b)Bill
of Sale. A bill of sale in the form of Exhibit E attached hereto, executed by Seller.

 

(c)Assignment
Agreement. An assignment and assumption of the Leases and Intangible Property, in the form of Exhibit F
attached hereto (“Assignment Agreement”), executed by Seller.

 

(d)Notice
to Tenants. A letter in the form of Exhibit G attached hereto, executed by Seller, which shall be sent by
Buyer after Closing to the Tenants.

 

(e)Intentionally
Omitted.

 

(f)Evidence
of Authority. Documentation to establish to the Title Company’s reasonable satisfaction the due authorization of Seller’s
consummation of the Transaction, including Seller’s execution of this Agreement and the execution and delivery of the Closing
Documents required to be delivered by Seller.

 

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(g)Other
Documents. A title affidavit in the form of Exhibit I-1 attached hereto, a gap indemnity in the form of
Exhibit I-2 attached hereto, applicable transfer or sales tax filings, and such other documents as may be reasonably
required by the Title Company or as may be agreed upon by Seller and Buyer to consummate the Transaction, each executed by Seller.

 

(h)Letters
of Credit as Tenant Security Deposits. If applicable, all original letters of credit which are security deposits under the
Leases and the transfer documentation as described in Section 8.1.

 

(i)Closing
Statement. A mutually acceptable form of a joint closing statement, setting forth the prorations and adjustments to the Purchase
Price respecting the Property to be made pursuant to this Agreement (the “Closing Statement”), executed by Seller.

 

(j)Keys
and Original Documents. Keys to all locks on the Real Property in Seller’s or Seller’s Property Manager’s
possession or control and originals or, if originals are not available, copies, of the Leases, all of the Contracts, and other
Property documents, to the extent not previously delivered to Buyer.

 

(k)Estoppels.
Each Tenant Estoppel (as hereinafter defined) and the Condominium Estoppel (as hereinafter defined).

 

(l)1099-S.
A completed Form 1099-S or other documents required by the Code (as hereinafter defined), duly executed and acknowledged by Seller.

 

(m)Affidavit
in Lieu of Registration Statement. A City of New York Department of Housing Preservation and Development Affidavit in Lieu
of Registration Statement.

 

6.3Buyer’s
Closing Deliveries. At the Closing, Buyer shall deliver the following:

 

(a)Purchase
Price. The Purchase Price, as adjusted for apportionments and other adjustments required under this Agreement, plus any other
amounts required to be paid by Buyer at Closing.

 

(b)Assignment
Agreement. The Assignment Agreement, executed by Buyer.

 

(c)Evidence
of Authority. Documentation to establish to Seller’s reasonable satisfaction the due authorization of Buyer’s consummation
of the Transaction, including Buyer’s execution of this Agreement and the Closing Documents required to be delivered by Buyer.

 

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(d)Other
Documents. Applicable transfer or sales tax filings and such other documents as may be reasonably required by the Title Company
or may be agreed upon by Seller and Buyer to consummate the Transaction.

 

(e)Closing
Statement. The Closing Statement, executed by Buyer.

 

6.4Conditions
to Buyer’s Obligations. Buyer’s obligation to close the Transaction is conditioned on all of the following:

 

(a)Representations
True. All Seller’s Warranties in this Agreement, as the same may be deemed modified as provided in Section 7.3,
shall be true and correct in all material respects on and as of the Scheduled Closing Date, as if made on and as of such date except
to the extent that they expressly relate to an earlier date.

 

(b)Title
Conditions Satisfied. At the time of the Closing, title to the Property shall be as provided in Article 3 of this
Agreement.

 

(c)Estoppel
Certificate. Buyer shall have received an executed estoppel certificate from each Tenant with respect to its Lease (each a
“Tenant Estoppel”) and an executed estoppel certificate from the Condominium Board with respect to the Property (the
“Condominium Estoppel”). Buyer shall be required to accept any such Tenant Estoppel if the same: (x) is dated
no earlier than forty-five (45) days prior to the initial Scheduled Closing Date, (y) is substantially in the form of Exhibit K
attached hereto with any modifications made by a Tenant which are consistent with the minimum requirements set forth in its Lease
or are otherwise reasonably acceptable to Buyer, and (z) does not disclose any information or facts that would (i) constitute
a default by Seller under a Lease, (ii) with the giving of notice or passage of time or both would constitute a default by Seller
under a Lease, and (iii) which differ in any material respect from the information or facts that Buyer is deemed to know (but excluding
such Tenant Estoppel for purposes of Buyer’s deemed knowledge under this clause (iii)) about prior to the Effective Date.
Either Buyer or Seller may elect to postpone the Scheduled Closing Date for a period not to exceed ten (10) days in order to provide
additional time for Seller to satisfy the foregoing estoppel requirement. Notwithstanding any provisions in this Agreement to the
contrary, if Buyer fails to object in writing to a Tenant Estoppel executed by a Tenant within five (5) Business Days after the
date a copy of the same has been delivered to Buyer, Buyer shall be deemed to have approved the same.

 

(d)Seller’s
Deliveries Complete. Seller shall have delivered all of the documents and other items required pursuant to Section 6.2
and shall have performed all other material obligations to be performed by Seller at or prior to the Closing.

 

6.5Conditions
to Seller’s Obligations. Seller’s obligation to close the Transaction is conditioned on all of the following:

 

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(a)Seller’s
Corporate Approval. The unconditional approval of the Transaction by the investment committee of Prudential Real Estate Investors,
the real estate investment management business unit of Prudential Investment Management, Inc.; provided, however, Seller shall
be required to exercise its right to terminate this Agreement as a result of the fact that it is unable to obtain the approval
referenced in this Section 6.5(a) no later than seven (7) calendar days following the Effective Date. If Seller terminates
this Agreement pursuant to this Section 6.5(c), Seller shall reimburse Buyer for its reasonable out of pocket third party
due diligence costs incurred by Buyer prior to the date of termination in connection with the Transaction in no event to exceed
$100,000.

 

(b)Representations
True. All representations and warranties made by Buyer in this Agreement shall be true and correct in all material respects
on and as of the Scheduled Closing Date, as if made on and as of such date except to the extent they expressly relate to an earlier
date.

 

(c)Buyer’s
Deliveries Complete. Buyer shall have delivered the funds required hereunder and all of the documents to be executed by Buyer
set forth in Section 6.3 and shall have performed all other material obligations to be performed by Buyer at or prior
to the Closing.

 

6.6Waiver of
Failure of Conditions Precedent. At any time on or before the date specified for the satisfaction of any condition, Seller
or Buyer may elect in writing to waive the benefit of any such condition to its obligations hereunder. By closing the Transaction
but subject to Section 7.3.3, Seller and Buyer shall be conclusively deemed to have waived the benefit of any remaining
unfulfilled conditions set forth in this Article 6, except to the extent that the same expressly survive Closing. In
the event any of the conditions set forth in this Article 6 are neither waived nor fulfilled, Seller or Buyer (as appropriate)
may terminate this Agreement (subject to the notice and cure rights set forth in Article 9 and elsewhere in this Agreement)
and exercise such rights and remedies, if any, that such party may have pursuant to the terms of Article 9. If this
Agreement is terminated as a result of the failure of any condition described in Section 6.4(b), (other than the failure
to Remove a Required Removal Exception), Section 6.4(c), or Section 6.5(a), then the Deposit shall be returned to
Buyer and, thereafter, neither party shall have any further rights or obligations hereunder except for obligations which expressly
survive termination of this Agreement.

 

ARTICLE
7 - REPRESENTATIONS AND WARRANTIES

 

7.1Buyer’s
Representations. Buyer represents and warrants to Seller as follows:

 

7.1.1Buyer’s
Authorization. Buyer (a) is duly organized (or formed), validly existing and in good standing under the Laws of its State
of organization and, to the extent required by applicable Laws, the State in which the Property is located, and (b) is authorized
to execute this Agreement and consummate the Transaction and fulfill all of its obligations hereunder and under all Closing Documents
to be executed by Buyer and such instruments, obligations and actions are valid and legally binding upon Buyer, enforceable in
accordance with their respective terms. The execution and delivery of this Agreement and all Closing Documents to be executed by
Buyer and the performance of the obligations of Buyer hereunder or thereunder will not (x) result in the violation of any
Law or any provision of Buyer’s organizational documents, (y) conflict with any order of any court or governmental instrumentality
binding upon Buyer, or (z) conflict or be inconsistent with, or result in any default under, any contract, agreement or commitment
to which Buyer is bound.

 

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7.1.2Buyer’s
Financial Condition. No petition has been filed by or against Buyer under the Federal Bankruptcy Code or any similar Laws.

 

7.1.3Patriot
Act Compliance. None of Buyer, any owner of more than a 25% ownership interest, directly
or indirectly, in Buyer, nor any other person, group, entity or nation (other than the investors in American Realty Capital New
York City REIT, Inc.) that Buyer is intentionally or knowingly acting for, or on behalf of, is named by any Executive Order (including
the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit,
or Support Terrorism) or the United States Treasury Department as a terrorist, “Specially Designated National and Blocked
Person,” or is otherwise a banned or blocked person, group, entity, or nation pursuant to any Law that is enforced or administered
by the Office of Foreign Assets Control, and Buyer is not intentionally or knowingly engaging in this Transaction on behalf of,
or instigating or facilitating this Transaction on behalf of, any such person, group, entity or nation.  Buyer is not engaging
in this Transaction, directly or indirectly, in violation of any Laws relating to drug trafficking, money laundering or predicate
crimes to money laundering.  None of the funds of Buyer have been or will be derived from any unlawful activity with the result
that the investment of direct or indirect equity owners in Buyer is prohibited by Law or that the Transaction or this Agreement
is or will be in violation of Law.  Buyer has and will continue to implement procedures, and has consistently and will continue
to consistently apply those procedures, to ensure the foregoing representations and warranties remain true and correct at all times
prior to Closing.

 

7.1.4Survival.
Buyer’s representations and warranties in this section shall survive the Closing and not be merged therein.

 

7.2Seller’s
Representations. Seller represents and warrants to Buyer as follows:

 

7.2.1Seller’s
Authorization. Seller (a) is duly organized (or formed), validly existing and in good standing under the Laws of its State
of organization and, to the extent required by applicable Laws, the State in which the Property is located, and (b) is authorized
to execute this Agreement and, subject to obtaining the approvals described in Section 6.5(a), consummate the Transaction
and fulfill all of its obligations hereunder and under all Closing Documents to be executed by Seller and such instruments, obligations
and actions are valid and legally binding upon Seller, enforceable in accordance with their respective terms. The execution and
delivery of this Agreement and all Closing Documents to be executed by Seller and the performance of the obligations of Seller
hereunder or thereunder will not (x) result in the violation of any Law or any provision of Seller’s organizational
documents, (y) conflict with any order of any court or governmental instrumentality binding upon Seller, or (z) conflict
or be inconsistent with, or result in any default under, any contract, agreement or commitment to which Seller is bound.

 

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7.2.2Seller’s
Financial Condition. No petition has been filed by Seller, nor has Seller received written notice of any petition filed against
Seller under the Federal Bankruptcy Code or any similar Laws.

 

7.2.3Patriot
Act Compliance. Seller is not acting, directly or indirectly for, or on behalf of, any person, group, entity or nation named
by any Executive Order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions With Persons
Who Commit, Threaten to Commit, or Support Terrorism) or the United States Treasury Department as a terrorist, “Specially
Designated National and Blocked Person,” or other banned or blocked person, entity, or nation pursuant to any Law that is
enforced or administered by the Office of Foreign Assets Control and Seller is not engaging in this Transaction, directly or indirectly,
on behalf of, or instigating or facilitating this Transaction, directly or indirectly, on behalf of, any such person, group, entity
or nation. Seller is not engaging in this Transaction, directly or indirectly, in violation of any Laws relating to drug trafficking,
money laundering or predicate crimes to money laundering. None of the funds of Seller have been or will be derived from any unlawful
activity with the result that the investment of direct or indirect equity owners in Seller is prohibited by Law or that the Transaction
or this Agreement is or will be in violation of Law. Seller has and will continue to implement procedures, and has consistently
and will continue to consistently apply those procedures, to ensure the foregoing representations and warranties remain true and
correct at all times prior to Closing.

 

7.2.4Delivery
of Documents. Seller has requested that Seller’s Property Manager give or otherwise make available to Buyer’s Representatives
all books, records, and other writings in such manager’s possession related in any material way to the use, ownership or
operation of the Property, other than Protected Information. To Seller’s Knowledge, the documents heretofore or hereafter
delivered or otherwise made available to Buyer’s Representatives prior to Closing (a) include the documents (other than
the Protected Information) that are used by Seller in the day-to-day operation and management of the Property, and (b) are
the same documents (other than the Protected Information) that are prepared by the Seller’s Property Manager for reporting
to Seller in connection with (i) the performance by Seller of its fiduciary obligations to its clients and investors, and
(ii) the preparation of financial statements and reports submitted to the clients and investors of Seller.

 

7.2.5Designated
Representatives. The Designated Representatives include those individuals who are currently responsible for the asset management
of the Property and the Transaction on behalf of Seller.

 

7.2.6Tenants
of the Property. As of the Effective Date, the only tenants of the Property are the Tenants and the Tenants are not entitled
to any free rent periods or rental abatements, concessions or other inducements for any period subsequent to the Closing Date;
provided, however, the foregoing is not intended (and shall not be construed) as a representation by Seller of the
parties that are in actual possession of any portion of the Property.

 

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7.2.7Personal
Property. Except as set forth in Exhibit M attached hereto, the personal property to be transferred to Buyer
is free and clear of liens, security interests and other encumbrances arising by, through or under Seller, except as a result of
instruments securing a loan that shall be paid in full by Seller at or prior to Closing.

 

7.2.8Rents.
Neither the Rents nor the Leases have been assigned, transferred or hypothecated by Seller, except by virtue of instruments securing
a loan that shall be paid in full by Seller at or prior to Closing.

 

7.2.9Third-Party
Rights. Seller has not entered into any agreements currently in effect pursuant to which Seller has granted any rights of first
refusal to purchase all or any part of the Property, options to purchase all or any part of the Property or other rights whereby
any individual or entity has the right to purchase all or any part of the Property (except for any options to purchase the Property
or a portion thereof that may be contained in the Leases).

 

7.2.10Notice
of Lease Defaults. As of the Effective Date, except as set forth on Exhibit M attached hereto and except
for defaults cured on or before the Effective Date, Seller has neither (i) received any written notice from any Tenant asserting
or alleging that Seller is in default under such Tenant’s Lease, nor (ii) sent to any Tenant any written notice alleging
or asserting that such Tenant is in default under its Lease. If Buyer receives an estoppel certificate from a Tenant that complies
with the terms of Section 6.4(c) as to such Tenant’s Lease, the representation and warranty of Seller contained
in this paragraph shall be without further force or effect with respect to such Tenant or its Lease as of the date of the Tenant’s
estoppel certificate to the extent such representation and warranty is covered by the applicable estoppel certificate.

 

7.2.11Seller’s
Knowledge Representations. To Seller’s Knowledge:

 

(a)As
of the Effective Date, except as listed in Exhibit M attached hereto, Seller has not received any written notice
of any current or pending litigation against Seller or the Property (including, without limitation, any condemnation proceedings)
which would, in the reasonable judgment of Seller, adversely affect the Property.

 

(b)As
of the Effective Date, Seller has not entered into or assumed any contracts, equipment leases or other agreements affecting the
Property which will be binding upon Buyer after the Closing other than (i) the Contracts listed in Exhibit B
attached hereto, (ii) the Lease, and (iii) liens, encumbrances, covenants, conditions, restrictions, easements and other
matters of record. True, correct and complete copies of the Contracts listed on Exhibit B attached hereto and the Leases have been
provided to Buyer. The Contracts and the Leases are in full force and effect and have not been modified, amended, reminted, renewed
or extended, except as otherwise set forth on Exhibit B attached hereto or in the definition of Leases contained in Article 1 hereof.
If Buyer receives an estoppel certificate from a Tenant that complies with the terms of Section 6.4(c) as to such Tenant’s
Lease, the representation and warranty of Seller contained in this paragraph shall be without further force or effect with respect
to such Tenant or its Lease as of the date of the Tenant’s estoppel certificate to the extent such representation and warranty
is covered by the applicable estoppel certificate.

 

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(c)As
of the Effective Date, except for defaults cured on or before the Effective Date and except as listed in Exhibit M
attached hereto, Seller has not received, or delivered, any written notice of default under the terms of any of the Contracts.

 

(d)Except
for violations cured or remedied on or before the Effective Date and except as listed in Exhibit M attached
hereto, as of the Effective Date, Seller has not received any written notice from any governmental authority of any violation of
any Law applicable to the Property.

 

(e)As
of the Effective Date, except as set forth in Exhibit M attached hereto, Seller has not received any written
notice of violation with regard to any law, covenant, condition or restriction relating to the present use or occupancy of the
Property from any person, authority or agency having jurisdiction over the Property.

 

7.2.12Intentionally
Omitted.

 

7.2.13Notification.
Should Seller receive a written notice or obtain Seller’s Knowledge, after the Effective Date and prior to the Closing Date,
that any of the representations set forth in this Section 7.2 are untrue, Seller will promptly notify Buyer of the same
in writing.

 

7.2.14Brokerage
Agreements. There are no agreements in effect relating to the payment of leasing commissions or similar fees in connection
with the Leases or the leasing of the Property (or any portion thereof). There are no Lease Expenses currently outstanding.

 

7.2.15Condemnation.
Seller has not received written notice of any pending or threatened condemnation or eminent domain proceedings that would affect
the Property.

 

7.2.16Security
Deposits. There are no security deposits (including, without limitation, those in the form of letters of credit) presently
held by or on behalf of Seller with respect to the Leases, except as set forth on Exhibit N attached hereto.

 

7.2.17Condominium.
The Seller, as a unit owner in the Condominium, as of the date hereof, has not received any written notice from the Condominium
or the Condominium Board concerning changes in Condominium common charges due pursuant to the Condominium Documents and/or special
assessments. Seller has neither (i) received any written notice from the Condominium or the Condominium Board asserting or alleging
that Seller is in default under the Condominium Documents, nor (ii) sent to the Condominium any written notice alleging or asserting
that the Condominium is in default under Condominium Documents

 

7.2.18Employees.
 Neither Seller, nor any Seller Parties, has any employees at the Real Estate.  

 

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7.3General Provisions.

 

7.3.1Seller’s
Warranties Deemed Modified. To the extent that Buyer is deemed to know prior to the Effective Date that Seller’s Warranties
are inaccurate, untrue or incorrect in any way, Buyer shall proceed to Closing notwithstanding such knowledge, such Seller’s
Warranties shall be deemed modified to reflect Buyer’s deemed knowledge.

 

7.3.2Breach
of Warranties prior to Closing. If after the Effective Date but prior to the Closing, either Buyer or Seller obtains actual
knowledge that any of the representations or warranties made herein are untrue, inaccurate or incorrect in any material respect,
such party shall give the other party written notice thereof within five (5) Business Days of obtaining such knowledge (but, in
any event, prior to the Closing). In the event of any breach of a Seller Warranty, Seller shall have the right to cure such misrepresentation
or breach and shall be entitled to a reasonable extension of the Scheduled Closing Date (not to exceed forty-five (45) days in
the aggregate with all other extensions of the Scheduled Closing Date by Seller permitted under this Agreement) for purposes of
such cure. The untruth, inaccuracy or incorrectness of Seller’s Warranties shall be deemed material for all purposes of this
Agreement only if Buyer’s aggregate damages resulting from the untruth, inaccuracy or incorrectness of Seller’s Warranties
are reasonably estimated to exceed $50,000. If any such untruth, inaccuracy or incorrectness of Seller’s Warranties shall
be deemed material and Seller fails to cure such untruth, inaccuracy or incorrectness, then Buyer shall have the remedies available
to Buyer pursuant to and subject to the terms of Section 9.2 hereof. If any of Seller’s Warranties are untrue, inaccurate
or incorrect but are not, in the aggregate, untrue, inaccurate or incorrect in any material respect as set forth herein, Buyer
shall be deemed to waive such misrepresentation or breach of warranty, and Buyer shall be required to consummate the Transaction
without any reduction of or credit against the Purchase Price.

 

7.3.3Survival;
Limitation on Seller’s Liability. Seller’s Warranties shall survive the Closing and not be merged therein for a
period of one hundred eighty (180) days and Seller shall only be liable to Buyer hereunder for a breach of a Seller’s Warranty
with respect to which Seller receives a written notice of a claim from Buyer on or before the one hundred eightieth (180th)
day after the Closing Date. Notwithstanding the foregoing, however, if the Closing occurs, Buyer hereby expressly waives, relinquishes
and releases any rights or remedies available to it at law, in equity, under this Agreement or otherwise, including any claim against
Seller for damages that Buyer may incur, as the result of any of Seller’s Warranties being untrue, inaccurate or incorrect
if (a) Buyer is deemed to know that any Seller’s Warranties were untrue, inaccurate or incorrect at the time of the
Closing, or (b) the untruth, inaccuracy or incorrectness of such Seller’s Warranties is not material.

 

7.3.4Survival.
The provisions of this Section 7.3 shall survive the Closing (and not be merged therein) or any earlier termination
of this Agreement.

 

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ARTICLE
8 - COVENANTS

 

8.1Contracts,
Title Instruments, and the Leases.

 

(a)Without
Buyer’s prior consent, between the Effective Date and the Closing, Seller shall not (i) extend, renew, replace or otherwise
modify any Contract or enter into any new service contract or agreement, or (ii) execute any instrument which affects title
to the Property, or (iii) enter into any new lease with respect to the Property or modify any Lease or any part thereof, or
terminate, amend, modify, extend or waive any rights under any Lease (except pursuant to the exercise by a Tenant of a renewal,
extension or expansion option or other right contained in its Lease). Seller shall furnish Buyer with a copy of the proposed agreement
which shall contain such information reasonably necessary to enable Buyer to make informed decisions with respect to the advisability
of the proposed transaction. If Buyer fails to object in writing to any such agreement within three (3) Business Days after receipt
thereof, Buyer shall be deemed to have approved the terms of the proposed transaction. Buyer, in its sole and absolute discretion,
shall be entitled to grant or withhold its consent with respect to any such transaction that is proposed between the Effective
Date and the Closing. Any notice from Buyer rejecting the proposed transaction shall include a description of the reasons for Buyer’s
rejection.

 

(b)Notwithstanding
the foregoing terms of this section, if the Lease requires that the landlord’s consent be given under the applicable circumstances
(or not be unreasonably withheld, conditioned or delayed), then Buyer shall be held to the same standard of approval.

 

(c)Between
the Effective Date and the Closing, Seller shall not negotiate or enter into any agreement pursuant to which Seller shall grant
any rights of first refusal to purchase all or any part of the Property, or any options to purchase all or any part of the Property
or other rights whereby any individual or entity has the right to purchase all or any part of the Property.

 

(d)Subject
to Section 8.1(a) hereof, Seller shall enforce the rights and remedies of the landlord under the Leases in a manner consistent
with its past practices, including without limitation, to apply all or any portion of any security deposits then held by Seller
toward any loss or damage incurred by Seller by reason of any defaults by the Tenants, and the exercise of any such rights or remedies
shall not affect the obligations of Buyer under this Agreement or entitle Buyer to a reduction in, or credit or allowance against,
the Purchase Price or give rise to any other claim on the part of Buyer.

 

(e)With
respect to any security deposits which are letters of credit, (i) at Closing, Seller shall execute and deliver to Buyer such
instruments as the issuers of such letters of credit shall reasonably require in order to transfer the same to Buyer, and (ii) after
Closing, Seller shall cooperate with Buyer to change the named beneficiary under such letters of credit to Buyer so long as Seller
does not incur any additional liability or expense in connection therewith. Buyer shall be liable for payment of any fees imposed
by the issuer of any letter of credit to be transferred. The provisions of this section shall survive the Closing and not be merged
therein.

 

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(f)On
or before the Closing, Seller shall terminate any management agreements currently in effect with respect to the Property at the
sole cost and expense of Seller.

 

(g)Maintain
the current insurance coverages for the Property and otherwise operate the Property in a manner substantially similar to the operation
of the Property prior to the Effective Date.

 

8.2Maintenance
of Property. Except to the extent Seller is relieved of such obligations by Article 10, between the Effective Date
and the Closing, Seller shall operate and maintain the Property in a manner consistent with Seller’s past practices with
respect to the Property; provided, however, Seller shall not be obligated to perform any capital improvements or
any deferred maintenance repairs. Seller shall not perform any capital improvement or any deferred maintenance repairs without
the prior consent of Buyer, except that Seller shall have the right to perform without Buyer’s consent any of the foregoing
required by any Law. Buyer hereby agrees that, except for breaches of this Section 8.2, Buyer, shall accept the Property
subject to, and Seller shall have no obligation to cure, (a) any violations of Laws, or (b) any physical conditions which
would give rise to violations of Laws, whether the same now exist or arise prior to Closing. Between the Effective Date and the
Closing, Seller will advise Buyer of any written notice Seller receives after the Effective Date from any governmental authority
of the violation of any Laws regulating the condition or use of the Property. Seller, on or before the Closing Date, shall pay
any fines (but not costs to cure) levied against the Property resulting from any violations of Law existing at the Property on
or before the Closing Date.

 

8.3Brokers.
Seller and Buyer expressly acknowledge that Seller’s Broker has acted as the exclusive broker with respect to the Transaction
and with respect to this Agreement. Seller shall pay any brokerage commission due to Seller’s Broker in accordance with the
separate agreement between Seller and Seller’s Broker. Seller agrees to hold Buyer harmless and indemnify Buyer from and
against any and all Liabilities (including reasonable attorneys’ fees, expenses and disbursements) suffered or incurred by
Buyer as a result of any claims by Seller’s Broker or any other party claiming to have represented Seller as broker in connection
with the Transaction. Buyer agrees to hold Seller harmless and indemnify Seller from and against any and all Liabilities (including
reasonable attorneys’ fees, expenses and disbursements) suffered or incurred by Seller as a result of any claims by any party
(other than Seller’s Broker) claiming to have represented Buyer as broker in connection with the Transaction. The provisions
of this section shall survive the Closing (and not be merged therein) or the earlier termination of this Agreement.

 

8.4Tax Protests;
Tax Refunds and Credits. Subject to any contrary provisions in the Leases, Seller shall have the right to control the progress
of and to make all decisions with respect to any contest of the real estate taxes and personal property taxes for the Property
due and payable during the tax year in which Closing occurs (the “Closing Tax Year”) and all tax years prior
to the Closing Tax Year, provided Seller shall keep Buyer reasonably informed regarding the status of any contest with respect
to the taxes attributable to the Closing Tax Year. Subject to any contrary provisions in the Leases, Buyer shall have the right
to control the progress of and to make all decisions with respect to any contest of the real estate taxes and personal property
taxes for the Property due and payable during all years subsequent to the Closing Tax Year. To the extent any real estate or personal
property tax refunds or credits are received after Closing with respect to the Property and such refunds or credits are attributable
to real estate and personal property taxes paid for any tax year prior to the Closing Tax Year, Seller shall be entitled to the
entirety of such refunds and credits (except to the extent due to any past or present tenant of the Property). To the extent any
such refunds or credits are attributable to real estate and personal property taxes paid during the Closing Tax Year, such amounts
shall be prorated between the parties in the manner provided in Section 5.2, less costs incurred in obtaining such
refund or credit and any amounts due to any past or present tenant of the Property. The provisions of this section shall survive
the Closing (and not be merged therein).

 

    	22

    	 

    

 

8.5Publicity.
Seller and Buyer each hereby covenant and agree that (a) prior to the Closing neither Seller nor Buyer shall issue any press
release or similar public statement with respect to the Transaction or this Agreement (a “Press Release”) without
the prior consent of the other, except to the extent required by applicable Law, and (b) after the Closing, any Press Release
issued by either Seller or Buyer shall be subject to the review and approval of both parties (which approval shall not be unreasonably
withheld, conditioned or delayed and such response shall be provided within two (2) Business Days after submission of a draft of
the Press Release to the other party for review), except to the extent required by applicable Law. If either Seller or Buyer is
required by applicable Law to issue a Press Release, such party shall, at least two (2) Business Days prior to the issuance of
the same, deliver a copy of the proposed Press Release to the other party for its review. The provisions of this section shall
survive the Closing (and not be merged therein) or the earlier termination of this Agreement.

 

8.6Confidentiality.

 

(a)Buyer
shall hold, and shall cause the other Buyer’s Representatives and any prospective investors in Buyer to hold in strict confidence
and not disclose to any other person without the prior written consent of Seller: (i) the terms of the Agreement, (ii) unless
and until the Closing occurs, any of the information in respect of the Property delivered or made available to any Buyer’s
Representatives, and (iii) the identity of any direct or indirect owner of any beneficial interest in Seller. In the event
the Closing does not occur or this Agreement is terminated, Buyer shall promptly return to Seller all copies of documents containing
any of such information without retaining any copy thereof or extract therefrom. Notwithstanding the foregoing, Buyer may disclose
such information (A) on a need-to-know basis to its employees, agents, consultants, and members of professional firms serving
it or potential lenders or investors, or (B) as any governmental agency (including, without limitation, the Securities and
Exchange Commission) may require in order to comply with applicable Laws or a court order, or (C) to the extent that such
information is a matter of public record. Buyer hereby agrees to indemnify, defend, and hold each of the Seller Parties free and
harmless from and against any and all Liabilities (including reasonable attorneys’ fees, expenses and disbursements) arising
out of or resulting from the breach of the terms of this section.

 

    	23

    	 

    

 

(b)Seller
shall hold, and shall cause the other Seller Parties to hold in strict confidence and not disclose to any other person without
the prior written consent of Seller: (i) the terms of the Agreement, and (ii) the identity of any direct or indirect owner of any
beneficial interest in Buyer. Notwithstanding the foregoing, Seller may disclose such information (A) on a need-to-know basis to
its employees, agents, consultants, and members of professional firms serving it or potential lenders or investors, or (B) as any
governmental agency (including without limitation, the Securities and Exchange Commission) may require in order to comply with
applicable Laws or a court order, or (C) to the extent that such information is a matter of public record. Seller hereby agrees
to indemnify, defend, and hold each of the Buyer’s Representatives free and harmless from and against any and all Liabilities
(including reasonable attorneys’ fees, expenses and disbursements) arising out of or resulting from the breach of the terms
of this section.

 

(c)The
provisions of this section shall survive the Closing (and not be merged therein) or earlier termination of this Agreement.

 

8.7Delivery
of Information Regarding Compliance. (a) No later than the seventh (7th) day following the Effective Date, Buyer
agrees to provide documentation reasonably necessary or desirable for Seller to verify that the representations and warranties
made in Section 7.1.3 are true, accurate and complete, which documentation shall include, without limitation, information
regarding the ownership of Buyer and a list of any person or entity that directly or indirectly owns more than a 25% interest in
Buyer. In addition, if after review of such information Seller determines that it needs additional information regarding the owners
of Buyer, Buyer agrees to provide Seller with the Social Security number, FEIN number, or a copy of the passport, as applicable,
for each such person or entity or such other information that Seller requires in lieu thereof.. Notwithstanding any provision in
this Agreement to the contrary, Seller may disclose such information, without notice to Buyer, to any government agency or regulators
in connection with any regulatory examination or if such disclosure is required by Law or its regulatory compliance policies.

 

(b)No later than
the seventh (7th) day following the Effective Date, Seller agrees to provide documentation reasonably necessary or desirable
for Buyer to verify that the representations and warranties made in Section 7.2.3 are true, accurate and complete, which
documentation shall include, without limitation, information regarding the ownership of Seller and a list of any person or entity
that directly or indirectly owns more than a 25% interest in Seller. In addition, if after review of such information Buyer determines
that it needs additional information regarding the owners of Seller, Seller agrees to provide Buyer with the Social Security number,
FEIN number, or a copy of the passport, as applicable, for each such person or entity or such other information that Buyer requires
in lieu thereof. Notwithstanding any provision in this Agreement to the contrary, Buyer may disclose such information, without
notice to Seller, to any government agency or regulators in connection with any regulatory examination or if Buyer reasonably believes
that such disclosure is required by Law or its regulatory compliance policies.

 

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ARTICLE
9 - DEFAULTS

 

9.1Seller’s
Remedies for Buyer Defaults. If, (i) on the Scheduled Closing Date Buyer fails to deliver the balance of the Purchase
Price in accordance with Sections 2.3 and 6.1, and fails to cure the same within two (2) Business Days after
the Scheduled Closing Date, or (ii) on or before the Scheduled Closing Date Buyer is in default of any of its other material
obligations hereunder or any of Buyer’s representations or warranties are, in the aggregate, untrue, inaccurate or incorrect
in any material respect, and any such circumstance described in this clause (ii) continues for five (5) Business Days
after written notice (which written notice shall detail such default or breach), then Seller shall have the right to elect as its
sole and exclusive remedy, to (a) terminate this Agreement by written notice to Buyer, promptly after which the Deposit shall
be paid to Seller as liquidated damages and, thereafter, the parties shall have no further rights or obligations hereunder except
for obligations which expressly survive the termination of this Agreement, or (b) waive the default or breach and proceed
to close the Transaction. Seller and Buyer have discussed the possible consequences to Seller in the event that the Closing does
not occur by reason of any of the events described in this section. The parties agree that it would be impractical or extremely
difficult to determine the actual damages to Seller in such event and that a reasonable estimate of such damages is an amount equal
to the Deposit. THE AMOUNT PAID TO AND RETAINED BY SELLER AS LIQUIDATED DAMAGES PURSUANT TO THE FOREGOING PROVISIONS SHALL BE SELLER’S
SOLE AND EXCLUSIVE REMEDY IF BUYER FAILS TO CLOSE THE PURCHASE OF THE PROPERTY. THE PARTIES HERETO EXPRESSLY AGREE AND ACKNOWLEDGE
THAT SELLER’S ACTUAL DAMAGES IN THE EVENT OF A DEFAULT BY BUYER WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO ASCERTAIN
AND THAT THE AMOUNT OF THE DEPOSIT PLUS ANY INTEREST ACCRUED THEREON REPRESENTS THE PARTIES’ REASONABLE ESTIMATE OF SUCH
DAMAGES.

 

9.2Buyer’s
Remedies for Seller Defaults. If, on or before the Scheduled Closing Date, Seller is in default of any of its material obligations
hereunder, or any of Seller’s Warranties are, in the aggregate, untrue, inaccurate or incorrect in any material respect,
and any such circumstance described in this sentence continues for five (5) Business Days after written notice (which written notice
shall detail such default or breach), then Buyer shall have the right to elect, as its sole and exclusive remedy, to (a) terminate
this Agreement by written notice to Seller, promptly after which (i) the Deposit shall be returned to Buyer and (ii) if the Seller
default of a material obligation hereunder is willful, all reasonable third party due diligence costs incurred by Buyer prior to
the date of termination in connection with the Transaction and this Agreement shall be reimbursed by Seller up to an aggregate
amount not to exceed $100,000, and, after such termination, the parties shall have no further rights or obligations hereunder except
for obligations which expressly survive the termination of this Agreement, or (b) waive the default or breach and proceed
to close the Transaction, or (c) seek specific performance of this Agreement by Seller; provided, however, if
specific performance of this Agreement is not available as a remedy to Buyer as a result of Seller’s intentional acts, then
Buyer shall be entitled to (x) the return of the Deposit, and (y) pursue a claim against Seller for damages but specifically excluding
any claim for special, consequential or punitive damages. As a condition precedent to Buyer exercising any right it may have to
bring an action for specific performance hereunder, Buyer must commence such an action within ninety (90) days after the occurrence
of Seller’s default. Buyer agrees that its failure to timely commence such an action for specific performance within such
ninety (90) day period shall be deemed a waiver by it of its right to commence an action for specific performance as well as a
waiver by it of any right it may have to file or record a notice of lis pendens or notice of pendency of action or similar
notice against any portion of the Property.

 

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9.3Indemnity
Obligations. Notwithstanding any provision in this Agreement to the contrary, in no event shall the provisions of this Article 9
limit the rights of either party against the other party due to the other party’s obligation to indemnify such party in accordance
with this Agreement or the damages recoverable pursuant to such indemnification obligations. This section shall survive the Closing
(and not be merged therein) or the earlier termination of this Agreement.

 

ARTICLE
10 - CASUALTY/CONDEMNATION

 

10.1Right to
Terminate. If, after the Effective Date, (a) written notice of a proposed condemnation or taking of all or any part of the
Property is received, a condemnation proceeding is commenced as to all or any part of the Property, a condemnation proceeding is
concluded as to all or any part of the Property, or all or any part of the Property is conveyed in lieu of condemnation (any of
the foregoing a “Condemnation”); or (b) any portion of the Property is damaged or destroyed (excluding
routine wear and tear and damage caused by any Buyer’s Representative) (a “Casualty”), Seller shall notify
Buyer in writing of such fact promptly after obtaining knowledge thereof. If the Property is the subject of a Major Casualty/Condemnation
(as hereinafter defined) that occurs after the Effective Date, Buyer shall have the right to terminate this Agreement by giving
written notice to Seller no later than ten (10) Business Days after the giving of Seller’s notice, and the Scheduled Closing
Date shall be extended, if necessary, to provide sufficient time for Buyer to make such election. The failure by Buyer to terminate
this Agreement within such ten (10) Business Day period shall be deemed an election not to terminate this Agreement, provided,
however, such ten (10) Business Day period shall be extended, if necessary, to provide the parties sufficient time to determine
if a Major Casualty has occurred. If this Agreement is terminated pursuant to this section, the Deposit shall be returned to Buyer
and, thereafter, the parties shall have no further rights or obligations hereunder except for obligations which expressly survive
the termination of this Agreement. For the purposes of this Agreement, “Major Casualty/Condemnation” shall mean
any Casualty or Condemnation with respect to which (i) the portion of the Property that is the subject of such Casualty or
Condemnation has a value in excess of Five Million Eight Hundred Thousand Dollars ($5,800,000), as reasonably determined by an
engineer selected by Seller and reasonably acceptable to Buyer, (ii) such Casualty or Condemnation gives rise to a right by any
Tenant to terminate its Lease, (iii) such Casualty results in a full or partial abatement of rent under the Leases and Seller,
in its sole and absolute discretion, does not elect to assign the proceeds of any rental loss insurance to Buyer or give Buyer
a credit at Closing for the cost of such rent abatement, or (iv) such Casualty is an uninsured casualty and Seller, in its
sole and absolute discretion, does not elect to cause the damage to be repaired or restored or give Buyer a credit at Closing for
the cost of such repair or restoration.

 

10.2Allocation
of Proceeds and Awards. If a Condemnation or Casualty occurs after the Effective Date and this Agreement is not terminated
as permitted pursuant to the terms of Section 10.1, then this Agreement shall remain in full force and effect, and
Buyer shall acquire the remainder of the Property upon the terms set forth herein. Any awards or proceeds from the condemning authority
or Seller’s insurance company, as the case may be (the “Casualty/Condemnation Proceeds”) shall be allocated
between Buyer and Seller as follows: (a) Seller shall be entitled to be reimbursed from the Casualty/Condemnation Proceeds
for (i) all costs, expenses and fees, including reasonable attorneys’ fees, expenses and disbursements, reasonably and
actually incurred by Seller in connection with negotiating the settlement of such award or proceeds, (ii) proceeds of any
rental loss, business interruption or similar insurance, or other compensation or loss of use, that are allocable to the period
prior to the Closing Date, and (iii) the reasonable and actual costs incurred by Seller in physically stabilizing the Property
following a Casualty; and (b) Buyer shall be entitled to (i) the balance of the Casualty/Condemnation Proceeds, and (ii) a
credit from Seller equal to Seller’s deductible with respect to a Casualty, if the same is an insured casualty.

 

    	26

    	 

    

 

10.3Insurance.
Seller shall maintain the property insurance coverage currently in effect for the Property, or comparable coverage, through the
Closing Date.

 

10.4Waiver.
The provisions of this Article 10 supersede the provisions of any applicable Laws with respect to the subject matter
of this Article 10.

 

ARTICLE
11 - MISCELLANEOUS

 

11.1Buyer’s
Assignment.

 

(a)Buyer
shall not assign this Agreement or its rights hereunder without the prior written consent of Seller, which consent Seller may grant
or withhold in its sole and absolute discretion, and any such attempted assignment shall be null and void ab initio; provided,
however, Buyer may assign this Agreement and/or its rights hereunder to an Affiliate without the consent of Seller or a
subsidiary of American Realty Capital New York City REIT, Inc. or New York REIT, Inc. As used herein, “Affiliate” means
any legal entity that is directly or indirectly through one or more intermediaries, controlled by or under common control with
Buyer. As used in this paragraph only, the term “control” (including the terms “controlled by” and “under
common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of management
and policies, whether through the ownership of voting securities, by contract or otherwise. Any transfer, directly or indirectly,
of any stock, partnership interest or other ownership interest in Buyer shall constitute an assignment of this Agreement; provided,
however, the foregoing shall not be construed to prohibit the transfer of stock in a public company. Buyer’s request
that Seller direct deed the Property to anyone or anything other than Buyer shall constitute an assignment of this Agreement.

 

(b)In
the event Buyer intends to assign its rights hereunder to an entity that is not an Affiliate, Buyer shall send Seller written notice
of its request at least ten (10) Business Days prior to the Scheduled Closing Date, which notice shall include the legal name and
structure of the proposed assignee and Buyer shall provide Seller any other information that Seller may reasonably request with
respect to the proposed assignee. Notwithstanding any provision in this Agreement to the contrary:

 

    	27

    	 

    

 

(i)Any
permitted assignment by Buyer shall not relieve Buyer of any of its obligations and liabilities hereunder, nor shall any such assignment
alter, impair or relieve such assignee from the waivers, acknowledgements and agreements of Buyer set forth herein, including those
set forth in Section 4.2, Article 7 and Article 8, all of which will be binding upon any assignee
of Buyer.

 

(ii)No
transfer by Buyer of any interest in this Agreement and no transfers of direct or indirect interests in Buyer shall be permitted
if the same would cause the representations and warranties made in Section 7.1 or Section 11.13 to be untrue,
inaccurate or incomplete and Buyer covenants to cooperate with Seller’s requests to provide the information required by Section 8.7
and other documentation reasonably necessary or desirable for Seller to verify that such representations and warranties are true,
accurate and complete at all times prior to Closing. If Buyer fails to provide the requested documentation to Seller at least ten
(10) Business Days prior to the Scheduled Closing Date, then Seller shall have the right, at its election, to postpone the Scheduled
Closing Date for a reasonable period until such verification has been made.

 

11.2Survival/Merger.
Except for the provisions of this Agreement which are explicitly stated to survive the Closing, (a) none of the terms of this
Agreement shall survive the Closing, and (b) the delivery of the Purchase Price, the Deed and the other Closing Documents
and the acceptance thereof shall effect a merger, and be deemed the full performance and discharge of every obligation on the part
of Buyer and Seller to be performed hereunder.

 

11.3Integration;
Waiver. This Agreement embodies and constitutes the entire understanding between the parties with respect to the Transaction
and all prior agreements, understandings, representations and statements, oral or written, are merged into this Agreement. Neither
this Agreement nor any provision hereof may be waived, modified, amended, discharged or terminated except by an instrument signed
by the party against whom the enforcement of such waiver, modification, amendment, discharge or termination is sought, and then
only to the extent set forth in such instrument. No waiver by either party hereto of any failure or refusal by the other party
to comply with its obligations hereunder shall be deemed a waiver of any other or subsequent failure or refusal to so comply.

 

11.4Governing
Law. This Agreement shall be governed by, and construed in accordance with, the law of the State in which the Real Property
is located.

 

11.5Captions
Not Binding; Exhibits. The captions in this Agreement are inserted for reference only and in no way limit the scope or intent
of this Agreement or of any of the provisions hereof. All Exhibits attached hereto shall be incorporated by reference as if set
out herein in full.

 

11.6Binding
Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors
and permitted assigns.

 

11.7Severability.
If any term or provision of this Agreement or the application thereof to any persons or circumstances shall, to any extent, be
invalid or unenforceable, the remainder of this Agreement or the application of such term or provision to persons or circumstances
other than those as to which it is held invalid or unenforceable shall not be affected thereby, and each term and provision of
this Agreement shall be valid and enforced to the fullest extent permitted by law.

 

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11.8Notices.
Any notices or other communications under this Agreement must be in writing, and shall be deemed duly given or made at the time
and on the date when received by e-mail transmittal of pdf files or similar electronic means or when personally delivered as shown
on a receipt therefor (which shall include delivery by a nationally recognized overnight delivery service) to the address for each
party set forth below. Any party, by written notice to the other in the manner herein provided, may designate an address different
from that set forth below.

 

	
        IF TO BUYER:

         

	
        c/o American Realty Capital

        405 Park Avenue, 12th Floor

        New York New York 10022

        Attention: Legal Department

        Telephone #: (212) 615-4500

        E-Mail Address: mead@arlcap.com

         

        c/o American Realty Capital

        405 Park Avenue, 12th Floor

        New York New York 10022

        Attention: President

        Telephone #: (212) 615-4500

        E-Mail Address: MHappel@arlcap.com

	 
	
        IF TO SELLER:

         

	
        USPF IV Laurel Retail Owner, L.P.

        c/o Prudential Real Estate Investors

        Two Prudential Plaza, Suite 3275

        180 N. Stetson Street

        Chicago, IL 60601

        Attention: Colette English-Dixon

        Telephone #: (312) 861-4440

        E-Mail Address: colette.english-dixon@prudential.com

         

	
        COPY TO:

         

	
        Prudential Real Estate
        Investors

        7 Giralda Farms

        Madison, New Jersey 07940

        Attention: Frances Felice, Esq.

        Telephone #: (973) 683-1714

        E-Mail Address: frances.felice@prudential.com

 

    	29

    	 

    

 

	
        COPY TO:

         

        Prudential Real Estate Investors

        3348 Peachtree Road NE, Suite 1100

        Atlanta, Georgia 30326

        Attention: Gregory Killeen

        Telephone #: (404) 704-3788

        E-Mail Address: gregory.killeen@prudential.com

         

        COPY TO:

         

	
        Goodwin Procter LLP

        Exchange Place

        Boston, MA 02109

        Attention: Minta E. Kay, Esq.

Telephone #: (617) 570-1877

E-Mail Address:mkay@goodwinprocter.com 

 

11.9Counterparts;
Electronic Signatures. This Agreement may be executed in counterparts, each of which shall be an original and all of which
counterparts taken together shall constitute one and the same agreement. Signatures to this Agreement transmitted by electronic
means shall be valid and effective to bind the party so signing. Each party agrees to promptly deliver an execution original to
this Agreement with its actual signature to the other party, but a failure to do so shall not affect the enforceability of this
Agreement.

 

11.10No Recordation.
Seller and Buyer each agrees that neither this Agreement nor any memorandum or notice hereof shall be recorded and Buyer agrees
(a) not to file any notice of pendency or other instrument against the Property or any portion thereof in connection herewith,
and (b) to indemnify Seller against all Liabilities (including reasonable attorneys’ fees, expenses and disbursements)
incurred by Seller by reason of the filing by Buyer of such notice of pendency or other instrument. Notwithstanding the foregoing,
if the same is permitted pursuant to applicable Laws, Buyer shall be entitled to record a notice of lis pendens if Buyer
is entitled to seek (and is actually seeking) specific performance of this Agreement by Seller in accordance with the terms of
Section 9.2.

 

11.11Additional
Agreements; Further Assurances. Each of the parties hereto shall execute and deliver such documents as the other party shall
reasonably request in order to consummate and make effective the Transaction; provided, however, the execution and
delivery of such documents shall not result in any additional liability or cost to the executing party.

 

11.12Construction.
The parties acknowledge that each party and its counsel have reviewed and revised this Agreement and that the normal rule of construction
to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of
this Agreement, any modification hereof or any of the Closing Documents.

 

11.13Intentionally
Omitted.

 

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11.14Time of
Essence. Time is of the essence with respect to the Closing and all of the provisions of this Agreement.

 

11.15Resolutions
of Disputes.

 

11.15.1
WAIVER OF JURY TRIAL. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL
OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OTHER DOCUMENT OR INSTRUMENT BETWEEN THE PARTIES
RELATING TO THIS AGREEMENT, THE PROPERTY OR ANY DEALINGS BETWEEN THE PARTIES HERETO RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT.
THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE
TO THE SUBJECT MATTER OF THAT RELATIONSHIP, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS, ANTITRUST CLAIMS, BREACH
OF DUTY CLAIMS, AND ALL OTHER COMMON-LAW OR STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT
TO ENTER INTO THIS AGREEMENT AND ALL OTHER AGREEMENTS AND INSTRUMENTS PROVIDED FOR HEREIN, AND THAT EACH WILL CONTINUE TO RELY
ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER
WITH LEGAL COUNSEL OF ITS OWN CHOOSING, OR HAS HAD AN OPPORTUNITY TO DO SO, AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY
TRIAL RIGHTS HAVING HAD THE OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL. THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED
EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS, OR MODIFICATIONS
TO THIS AGREEMENT OR ANY OTHER AGREEMENT OR DOCUMENT ENTERED INTO BETWEEN THE PARTIES IN CONNECTION WITH THIS AGREEMENT. IN THE
EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT WITHOUT A JURY.

 

11.15.2
Intentionally Omitted.

 

11.15.3
RELEASES. WITH RESPECT TO ANY RELEASE SET FORTH IN THIS AGREEMENT RELATING TO UNKNOWN AND UNSUSPECTED CLAIMS, THE PARTIES
HERETO HEREBY ACKNOWLEDGE THAT SUCH WAIVER AND RELEASE IS MADE WITH THE ADVICE OF COUNSEL AND WITH FULL KNOWLEDGE AND UNDERSTANDING
OF THE CONSEQUENCES AND EFFECTS OF SUCH RELEASE.

 

11.16Audit.
Seller shall provide Buyer and/or its auditors, at no cost or expense to Seller, in a timely fashion (Seller acknowledging that
Buyer may be required to make the below-referenced filing within seventy-one (71) days following Closing), with copies of, or access
to, such factual and financial information as may be reasonably requested by Buyer or its designated accountants, and as is in
the possession of or under the reasonable control of Seller and as relates to the Property, in connection with filings of Buyer
required by the Securities and Exchange Commission on account of Buyer’s purchase of the Property.

 

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11.17Withholding.
Buyer shall be entitled to deduct and withhold, or cause the Escrow Agent to deduct and withhold, from the Purchase Price, such
amounts as may be required to be deducted and withheld with respect to the making of such payment under
Section 1445 of the Internal Revenue Code of 1986, as amended (the “Code”) and under any similar
provision of state, local or foreign Law.  To the extent that amounts are so deducted and withheld by Buyer or Escrow
Agent, the same shall be treated for all purposes of this Agreement as having been paid to Seller.  In addition, Seller and
Buyer shall complete at Closing Form 8288-A and any other forms which Buyer shall file with the Internal Revenue Service in connection
therewith.

 

 

 

[Remainder of page intentionally blank]

 

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IN WITNESS WHEREOF,
each party hereto has caused this Agreement to be duly executed to be effective as of the day and year first above written.

 

SELLER:

 

USPF IV Laurel Retail Owner, L.P. ,
a Delaware limited partnership

 

		By:	USPF IV Laurel Retail GP LLC,

A Delaware limited
liability company, its general partner

 

		By:	U.S. Property Fund IV GmbH & Co., KG,

A German limited partnership

 

		By:	USPF IV-Verwaltungs-GmbH & Co., KG,

A German limited partnership,
its sole general partner

 

		By:	TMW USPF-Verwaltungs-GmbH,

A German corporation,
its sole general partner

 

		By:	/s/ Barry L. Howell

Barry L. Howell

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

		By:	/s/ James L. Street

James L. Street

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

BUYER:

 

ARC NYC400E67, LLC, a Delaware
limited liability company

 

By: /s/ Michael A. Happel

Name: Michael A. Happel

Title: Authorized Officer

 

    	33

    	 

    

 

LIMITED JOINDER

 

 

U.S. Property Fund IV GmbH & Co. KG hereby
executes and delivers this Limited Joinder for the sole purpose of being bound jointly and severally with Seller under Section
4.3 of this Agreement.

 

 

U.S. Property Fund IV GmbH & Co.,
KG,

A German limited partnership

 

		By:	USPF IV-Verwaltungs-GmbH & Co., KG,

A German limited partnership,
its sole general partner

 

		By:	TMW USPF-Verwaltungs-GmbH,

A German corporation,
its sole general partner

 

		By:	/s/ Barry L. Howell

Barry L. Howell

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

		By:	/s/ James L. Street

James L. Street

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

    	34

    	 

    

 

AGREEMENT OF ESCROW AGENT

 

The undersigned has
executed this Agreement solely to confirm its agreement to hold the Escrow Deposits in escrow in accordance with the provisions
and otherwise comply with the provisions of Exhibit C to this Agreement.

 

In witness whereof,
the undersigned has executed this Agreement as of August 8, 2014.

 

 

FIRST AMERICAN TITLE INSURANCE
COMPANY

 

By: /s/ Stephen Farber

Name: Stephen Farber

Title: VP

 

    	35

    	 

    

 

 

EXHIBIT A

 

LEGAL DESCRIPTION

 

Units RET1, RET2 and GAR (a/k/a the Garage
Unit) of The Laurel Condominium established pursuant to that certain Declaration dated October 6, 2008 recorded in the New York
County Office of the Regsiter of The City of New York on November 3, 2008 at CRFN 2008000427186, also designated as Tax Lots 1208,
1209 and 1210, respectively, Block 1461 on Tax Map Real Property Assessment Department of The City of New York for The Borough
of Manhattan & County of New York.

 

    	Exhibit A, Page 1

    	 

    

 

EXHIBIT B

 

LIST OF CONTRACTS 

 

 

Property Management Agreement

 

    	Exhibit B, Page 1

    	 

    

 

EXHIBIT C

 

ESCROW PROVISIONS

 

 

The Deposit and any
other sums (including, without limitation, any interest earned thereon) which the parties agree shall be held in escrow (herein
collectively called the “Escrow Deposits”), shall be held by the Escrow Agent, in trust, and disposed of only
in accordance with the following provisions:

 

1.The Escrow Agent
shall invest the Escrow Deposits in government insured interest-bearing instruments reasonably satisfactory to both Buyer and Seller
and shall promptly provide Buyer and Seller with confirmation of the investments made. Because Escrow Agent is not itself a bank,
it may commingle the Escrow Deposits with other escrow deposits in a trust account in order to facilitate placing the Escrow Deposits
in a segregated interest bearing account and to disburse the Escrow Deposits once they have been removed from said segregated interest
bearing account in accordance with the terms of this Agreement, but shall not otherwise commingle the Escrow Deposits with any
funds of the Escrow Agent or others.

 

2.If for any reason
the Closing does not occur and either party makes a written demand upon the Escrow Agent for payment of the Escrow Deposits, the
Escrow Agent shall give written notice to the other party of such demand. If the Escrow Agent does not receive a written objection
from the other party to the proposed payment within ten (10) days after the giving of such notice, the Escrow Agent is hereby authorized
to make such payment. If the Escrow Agent receives such written objection within such period, the Escrow Agent shall continue to
hold such amount until otherwise directed by written instructions signed by Seller and Buyer or a final judgment of a court.

 

3.If the Closing
occurs, the Escrow Agent shall deliver the Escrow Deposits to, or upon the instructions of, Seller on the Closing Date.

 

4.The parties acknowledge
that the Escrow Agent is acting solely as a stakeholder at their request and for their convenience, that the Escrow Agent shall
not be deemed to be the agent of either of the parties, and that the Escrow Agent shall not be liable to either of the parties
for any action or omission on its part taken or made in good faith, and not in disregard of this Agreement, but shall be liable
for any Liabilities (including reasonable attorneys’ fees, expenses and disbursements) incurred by Seller or Buyer resulting
from actions or omissions taken or made by the Escrow Agent in bad faith, in disregard of this Agreement or involving negligence
on the part of the Escrow Agent. Seller and Buyer shall jointly and severally indemnify and hold the Escrow Agent harmless from
and against all Liabilities (including reasonable attorneys’ fees, expenses and disbursements) incurred in connection with
the performance of the Escrow Agent’s duties hereunder, except with respect to actions or omissions taken or made by the
Escrow Agent in bad faith, in disregard of this Agreement or involving negligence on the part of the Escrow Agent.

 

5.Buyer shall pay
any income taxes on any interest earned on the Escrow Deposits. Buyer represents and warrants to the Escrow Agent that its taxpayer
identification number is ________.

 

    	Exhibit C, Page 1

    	 

    

 

6.Section 6045(e)
of the United States Internal Revenue Code and the regulations promulgated thereunder (herein collectively called the “Reporting
Requirements”) require an information return to be made to the United States Internal Revenue Service, and a statement
to be furnished to Seller, in connection with the Transaction. Escrow Agent is either (x) the person responsible for closing
the Transaction (as described in the Reporting Requirements) or (y) the disbursing title or escrow company that is most significant
in terms of gross proceeds disbursed in connection with the Transaction (as described in the Reporting Requirements). Accordingly:

 

(a)Escrow
Agent is hereby designated as the “Reporting Person” (as defined in the Reporting Requirements) for the Transaction.
Escrow Agent shall perform all duties that are required by the Reporting Requirements to be performed by the Reporting Person for
the Transaction.

 

(b)Seller
and Buyer shall furnish to Escrow Agent, in a timely manner, any information requested by Escrow Agent and necessary for Escrow
Agent to perform its duties as Reporting Person for the Transaction.

 

(c)Escrow
Agent hereby requests Seller to furnish to Escrow Agent Seller’s correct taxpayer identification number. Seller acknowledges
that any failure by Seller to provide Escrow Agent with Seller’s correct taxpayer identification number may subject Seller
to civil or criminal penalties imposed by Law. Accordingly, Seller hereby certifies to Escrow Agent, under penalties of perjury,
that Seller’s correct taxpayer identification number is __________.

 

(d)Each
of the parties hereto shall retain this Agreement for a period of four (4) years following the calendar year during which Closing
occurs.

 

7.The provisions
of this Exhibit C shall survive the Closing (and not be merged therein) or earlier termination of this Agreement.

 

[Remainder of page intentionally blank]

 

    	Exhibit C, Page 2

    	 

    

 

EXHIBIT D

 

FORM OF DEED

 

 

[TO BE SAME AS DEED INTO SELLER]

 

    	Exhibit D, Page 1

    	 

    

 

EXHIBIT E

 

FORM OF BILL OF SALE

 

 

THIS BILL OF SALE
(this “Bill of Sale”), is executed as of _____    , 2014 by USPF IV LAUREL RETAIL OWNER,
L.P., a Delaware limited partnership (“Seller”) for the benefit of ARCP [TBD], LLC, a Delaware limited
liability company (“Buyer”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
the terms of that certain Purchase and Sale Agreement, dated as of August ___, 2014, by and between Buyer (as successor by assignment
to ARC NYC400E67, LLC, a Delaware limited liability company) and Seller (as the same may have been amended, modified or assigned,
the “Sale Agreement”), Seller agreed to sell to Buyer, inter alia, certain real property, the improvements
located thereon and certain rights appurtenant thereto, all as more particularly described in the Sale Agreement (collectively,
the “Real Property”). Initially capitalized terms not otherwise defined herein shall have the respective meanings
ascribed to such terms in the Sale Agreement; and

 

WHEREAS, by deed of
even date herewith, Seller conveyed the Real Property to Buyer; and

 

WHEREAS, in connection
with the above described conveyance Seller desires to sell, transfer and convey to Buyer certain items of tangible personal property
as hereinafter described.

 

NOW, THEREFORE, in
consideration of the receipt of TEN AND NO/100 DOLLARS ($10.00) and other good and valuable consideration paid in hand by Buyer
to Seller, the receipt and sufficiency of which are hereby acknowledged, Seller has SOLD, TRANSFERRED, and CONVEYED and by these
presents does hereby SELL, TRANSFER, and CONVEY to Buyer and Buyer hereby accepts all right, title and interest in and to all tangible
personal property owned by Seller that is located on the Real Property and used in the ownership, operation and maintenance of
the Real Property, including all books, records and files of Seller relating to the Real Property, but specifically excluding any
Protected Information and any computer software that is licensed to Seller (herein collectively called the “Personal Property”).

 

This Bill of Sale is
made without any covenant, warranty or representation by, or recourse against, Seller other than Seller’s Warranties (as
defined in the Sale Agreement).

 

Seller’s liability
under this Bill of Sale shall be limited as set forth in Section 4.3 of the Sale Agreement.

 

[Remainder of page intentionally blank]

 

    	Exhibit E, Page 1

    	 

    

 

IN WITNESS WHEREOF,
the undersigned has executed this Bill of Sale to be effective as of the date first set forth hereinabove.

 

SELLER:

 

USPF IV Laurel Retail Owner, L.P. ,
a Delaware limited partnership

 

		By:	USPF IV Laurel Retail GP LLC,

A Delaware limited
liability company, its general partner

 

U.S. Property Fund IV GmbH & Co.,
KG,

A German limited partnership

 

		By:	USPF IV-Verwaltungs-GmbH & Co., KG,

A German limited partnership,
its sole general partner

 

		By:	TMW USPF-Verwaltungs-GmbH,

A German corporation,
its sole general partner

 

		By:	_________________________________

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

		By:	_________________________________

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

    	Exhibit E, Page 2

    	 

    

 

EXHIBIT F

 

FORM OF ASSIGNMENT OF LEASE AND INTANGIBLE
PROPERTY

 

 

THIS ASSIGNMENT
OF LEASE AND INTANGIBLE PROPERTY (this “Assignment”), is made as of ____   ,
2014 by and between USPF IV LAUREL RETAIL OWNER, L.P., a Delaware limited partnership (“Assignor”)
and ARCP [TBD], LLC, a Delaware limited liability company (“Assignee”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to
the terms of that certain Purchase and Sale Agreement, dated as of August ___, 2014, by and between Assignee (as successor by assignment
to American Realty Capital III, LLC, a Delaware limited liability company) and Assignor (as the same may have been amended, modified
or assigned, the “Sale Agreement”), Assignor agreed to sell to Assignee, inter alia, certain real property,
the improvements located thereon and certain rights appurtenant thereto, all as more particularly described in the Sale Agreement
(collectively, the “Real Property”). Initially capitalized terms not otherwise defined herein shall have the
respective meanings ascribed to such terms in the Sale Agreement; and

 

WHEREAS, the Sale Agreement
provides, inter alia, that Assignor shall assign to Assignee the Lease and rights to certain intangible property and that
Assignor and Assignee shall enter into this Assignment.

 

NOW, THEREFORE, in
consideration of the premises and the mutual covenants herein contained, the parties hereto hereby agree as follows:

 

1.Assignment
of Lease. Assignor hereby assigns, sets over and transfers to Assignee all of Assignor’s right, title and interest in,
to and under the Lease identified on Exhibit A attached hereto. Assignee hereby accepts the foregoing assignment
of the Lease and assumes the obligations with respect thereto as and to the extent provided in the Sale Agreement.

 

2.Assignment
of Intangible Property. Assignor hereby assigns, sets over and transfers to Assignee all of Assignor’s right, title and
interest in, to and under the following, if and only to the extent the same may be assigned or quitclaimed by Assignor without
expense to Assignor in excess of a nominal transfer fee:

 

(a)the
contracts, equipment leases, and other agreements relating to the Real Property that are described in Exhibit B
attached hereto; and

 

(b)any
licenses, permits and other written authorizations in effect as of the date hereof with respect to the Real Property; and

 

(c)any
guaranties and warranties in effect as of the date hereof with respect to any portion of the Real Property or the personal property
conveyed to Assignee by Assignor concurrently herewith.

 

    	Exhibit F, Page 1

    	 

    

 

Assignee hereby accepts the foregoing assignment
of the interests described in this Section 2 (collectively, the “Intangible Property”) and assumes
the obligations with respect thereto as and to the extent provided in the Sale Agreement.

 

3.Reservation
of Benefits. Notwithstanding anything to the contrary in this Assignment, to the extent that Assignor continues to have liability
after the date hereof with respect to the Property, Assignor reserves and retains such benefits under the Lease and the Intangible
Property as are necessary or desirable for Assignor to defend or protect itself with respect to or to assert any rights relating
to any matter for which Assignor may continue to have liability from and after the date hereof; provided, however,
said benefits reserved and retained by Assignor pursuant to this Section shall exist jointly with Assignee’s benefits under
the Lease and Intangible Property, and such benefits may be enforceable by each of Assignor and Assignee to the extent of their
respective liability or damages for any matters relating thereto. Assignee and Assignor agree to cooperate with the reasonable
requests of the other party in enforcing their respective benefits under the Lease and the Intangible Property to the extent such
benefits are reserved by Assignor pursuant to the terms of this Section.

 

4.Limitation
on Liability. Assignor’s liability under this Assignment shall be limited as set forth in Section 4.3 of
the Sale Agreement.

 

5.Miscellaneous.
This Assignment and the obligations of the parties hereunder shall be binding upon and inure to the benefit of the parties hereto,
their respective legal representatives, successors and assigns, shall be governed by and construed in accordance with the laws
of the State in which the Real Property is located applicable to agreements made and to be wholly performed within said State and
may not be modified or amended in any manner other than by a written agreement signed by the party to be charged therewith.

 

6.Severability.
If any term or provision of this Assignment or the application thereof to any persons or circumstances shall, to any extent, be
invalid or unenforceable, the remainder of this Assignment or the application of such term or provision to persons or circumstances
other than those as to which it is held invalid or unenforceable shall not be affected thereby, and each term and provision of
this Assignment shall be valid and enforced to the fullest extent permitted by law.

 

7.Counterparts.
This Assignment may be executed in counterparts, each of which shall be an original and all of which counterparts taken together
shall constitute one and the same agreement.

 

[Remainder of page intentionally blank]

 

    	Exhibit F, Page 2

    	 

    

 

IN WITNESS WHEREOF,
the undersigned have executed this Assignment to be effective as of the date first set forth hereinabove.

 

ASSIGNOR:

 

USPF IV Laurel Retail Owner, L.P. ,
a Delaware limited partnership

 

		By:	USPF IV Laurel Retail GP LLC,

A Delaware limited
liability company, its general partner

 

		By:	U.S. Property Fund IV GmbH & Co., KG,

A German limited partnership

 

		By:	USPF IV-Verwaltungs-GmbH & Co., KG,

A German limited partnership,
its sole general partner

 

		By:	TMW USPF-Verwaltungs-GmbH,

A German corporation,
its sole general partner

 

		By:	_________________________________

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

		By:	_________________________________

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

  

 

 

ASSIGNEE:

 

ARCP [TBD], LLC, a Delaware limited
liability company

 

By:[TBD], its manager

 

 

By: ___________________________________

Name: _________________________________

Title: __________________________________

 

    	Exhibit F, Page 3

    	 

    

 

EXHIBIT G

 

FORM OF NOTICE TO TENANT

 

 

____ ___, 2014

 

 

		Re:	Notice of Change of Ownership of

The Laurel Retail and
Garage Condominium

400 East 67th
Street, New York, NY 10065

 

Ladies and Gentlemen:

 

You are hereby notified as follows:

 

That as of the date hereof, USPF IV LAUREL
RETAIL OWNER, L.P., a Delaware limited partnership has transferred, sold, assigned, and conveyed all of its interest in and to
the above-described property (the “Property”) to ___________________________, a Delaware limited liability company
(the “New Owner”).

 

Future notices and
rental payments with respect to your leased premises at the Property should be made to the New Owner in accordance with your lease
terms at the following address:

 

_______________________________

_______________________________

_______________________________

Attn: _______________________________

 

 

If there is a security
deposit with respect to your lease, it has been transferred to the New Owner and the New Owner shall be responsible for holding
your security deposit in accordance with the terms of your lease and applicable laws.

 

We expect that New
Owner or its property management agent will contact you shortly with respect to other information regarding New Owner, the Property
and your lease.

 

Sincerely,

 

USPF IV Laurel Retail Owner, L.P. ,
a Delaware limited partnership

 

		By:	USPF IV Laurel Retail GP LLC,

A Delaware limited
liability company, its general partner

 

		By:	U.S. Property Fund IV GmbH & Co., KG,

A
German limited partnership

 

    	Exhibit G, Page 1

    	 

    

 

		By:	USPF IV-Verwaltungs-GmbH & Co., KG,

A German limited partnership,
its sole general partner

 

		By:	TMW USPF-Verwaltungs-GmbH,

A German corporation,
its sole general partner

 

		By:	_________________________________

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

		By:	_________________________________

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

    	Exhibit G, Page 2

    	 

    

 

EXHIBIT H

 

Intentionally Omitted

 

    	Exhibit H, Page 1

    	 

    

 

EXHIBIT I-1

 

FORM OF TITLE AFFIDAVIT

 

 

Dated as of: __ ___, 2014

Title Order No. 

 

The undersigned (“Owner’)
hereby represents and warrants as follows to and for the benefit of First American Title Insurance Company (the “Title
Company”):

 

1.Representatives
of Owner have reviewed the preliminary report/commitment with an effective date of ___    , 2014 (the “Title
Report”).

 

2.To
the knowledge of Owner, there are no unrecorded leases or occupancy agreements affecting the property described in Schedule A of
the Title Report (the “Property”), or other parties in possession of the Property, except for the lease with
the tenant shown on Exhibit A attached hereto.

 

3.To
the knowledge of Owner, there are no unrecorded claims against the Property, nor any set of facts by reason of which Owner’s
title to the Property might be disputed or questioned except for (a) the lease with the tenant shown on Exhibit A,
(b) matters shown on the Title Report, (c) matters as disclosed on the survey previously delivered to the Title Company,
and (d) current taxes not delinquent. To the knowledge of Owner and except as aforesaid, Owner has been in peaceable and undisputed
possession of the Property since title was acquired.

 

4.Except
as set forth on Exhibit B attached hereto:

 

(a)within
the last six (6) months, Owner has not (i) made, ordered or contracted for any construction, repairs, alterations or improvements
to be made on or to the Property which have not been paid for in full, (ii) ordered materials for any such construction, repairs,
alterations or improvements which have not been paid for in full, or (iii) attached any fixtures to the Property which have
not been paid for in full; and

 

(b)there
are no outstanding or disputed claims for any work or item referred to in paragraph (a).

 

5.To
the knowledge of Owner, Owner has not received written notice of any violation of any covenants, conditions or restrictions of
record affecting the Property and there are no disputes with any adjoining property owners as to the location of property lines,
or the encroachment of any improvements.

 

All references herein
to the “knowledge” of Owner or words of similar import shall refer only to the actual knowledge of James L.
Street and Gregory Killeen, and shall not be construed to refer to the knowledge of any other officer, director, shareholder, employee,
agent or representative of Owner, any direct or indirect owner of any beneficial interest in Owner, or any affiliate of any of
the foregoing, or to impose or have imposed upon such individuals any duty to investigate the matters to which such knowledge,
or the absence thereof, pertains. There shall be no personal liability on the part of the aforementioned individuals arising out
of any representations or warranties made herein.

 

    	Exhibit I-1, Page 1

    	 

    

 

This affidavit is made
for the purpose of aiding the Title Company in determining the insurability of title to the Property, and to induce the Title Company
to issue its policy of title insurance and for no other purpose. This affidavit may be relied upon by the Title Company but may
not be relied upon by any other person or entity.

 

[Remainder of page intentionally blank]

 

    	Exhibit I-1, Page 2

    	 

    

 

IN WITNESS WHEREOF,
Owner has executed this affidavit as of the date first set forth above.

 

 

USPF IV Laurel Retail Owner, L.P. ,
a Delaware limited partnership

 

		By:	USPF IV Laurel Retail GP LLC,

A Delaware limited
liability company, its general partner

 

		By:	U.S. Property Fund IV GmbH & Co., KG,

A German limited partnership

 

		By:	USPF IV-Verwaltungs-GmbH & Co., KG,

A German limited partnership,
its sole general partner

 

		By:	TMW USPF-Verwaltungs-GmbH,

A German corporation,
its sole general partner

 

		By:	_________________________________

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

		By:	_________________________________

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

    	Exhibit I-1, Page 3

    	 

    

 

EXHIBIT I-2

 

FORM OF GAP INDEMNITY

 

 

Dated as of: ___ ___, 2014

Title Order No. 

Title Commitment Effective Date: ___    ,
2014

 

WHEREAS, First American
Title Insurance Company (the “Title Company”) has been asked to issue its owner’s policy(ies) of title
insurance in the aggregate amount of $_____ in favor of ARCP [TBD], LLC, a Delaware limited liability company (“Buyer”)
covering premises being acquired from USPF IV LAUREL RETAIL OWNER. L.P., a Delaware limited partnership (“Seller”)
as more particularly described in Exhibit A attached hereto (the “Real Property”);

 

AND WHEREAS, the Title
Company is unwilling to give title insurance coverage to Buyer with respect to the Real Property until the instruments under which
Buyer acquires title are filed for record in the appropriate registry;

 

AND WHEREAS, the parties
to the transaction have requested that the Title Company disburse amounts to Seller that the Title Company holds in escrow prior
to such time as the deed for the Real Property is recorded in the applicable records of New York County, New York;

 

NOW, THEREFORE, it
is agreed that in consideration of the Title Company issuing its title insurance policy to Buyer effective as of the date closing
occurs without making exception therein to matters which may arise between the Title Commitment Effective Date referenced above
(being the last effective date of the title insurance commitment issued by the Title Company in connection with Buyer’s title
insurance) and the date the documents creating the interest being insured have been filed for record and which matters may constitute
an encumbrance on or affect said title, Seller agrees to promptly defend, remove, bond or otherwise dispose of any encumbrance,
lien or objectionable matter to title caused by the acts of Seller, its agents or representatives which may arise or to be filed,
as the case may be, against the Real Property during the period of time between the Title Commitment Effective Date referenced
above and the date of recording of all closing instruments, and to hold harmless, and indemnify the Title Company against all expenses,
costs, and reasonable attorneys’ fees, which may arise out of Seller’s failure to so remove, bond or otherwise dispose
of any said liens, encumbrances or objectionable matters caused by the acts of Seller, its agents or representatives; provided,
however, the Title Company shall use good faith and diligent efforts to cause all documents to be recorded as soon as possible
but, in any event, no later than three (3) business days after the date hereof and Seller shall have no obligations or liability
hereunder with respect to any objections to title which may arise or be filed after such three (3) business day period nor shall
Seller have any obligations or liability hereunder with respect to any objections to title which may arise or be filed as a result
of the acts or by permission of Buyer, its agents or representatives.

 

This indemnity is given
to induce the Title Company to issue its policy of title insurance and for no other purpose. This indemnity may be relied upon
by the Title Company but may not be relied upon, and is not enforceable, by any other person or entity.

 

    	Exhibit I-2, Page 1

    	 

    

 

IN WITNESS WHEREOF,
Seller has executed this Gap Indemnity as the date first set forth above.

 

 

USPF IV Laurel Retail Owner, L.P. ,
a Delaware limited partnership

 

		By:	USPF IV Laurel Retail GP LLC,

A Delaware limited
liability company, its general partner

 

		By:	U.S. Property Fund IV GmbH & Co., KG,

A German limited partnership

 

		By:	USPF IV-Verwaltungs-GmbH & Co., KG,

A German limited partnership,
its sole general partner

 

		By:	TMW USPF-Verwaltungs-GmbH,

A German corporation,
its sole general partner

 

		By:	_________________________________

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

		By:	_________________________________

As attorney-in-fact
pursuant to that certain

Power of Attorney dated
July 30, 2014

 

    	Exhibit I-2, Page 2

    	 

    

 

EXHIBIT J

 

INTENTIONALLY OMITTED

 

    	Exhibit J, Page 1

    	 

    

 

EXHIBIT K

 

FORM OF TENANT ESTOPPEL CERTIFICATE

 

TENANT’S ESTOPPEL CERTIFICATE

 

		LEASE:	Lease dated as of October 5, 2007 between 1240 First Avenue LLC, as owner, and Cornell University
for and on behalf of its Joan & Sanford I. Weill Medical College, as tenant (the “Lease”)

 

		LEASED PREMISES:	Space on the ground floor, the second floor and basement
levels 1 and 2 in the building erected at 1240 First Avenue, New York, New York (collectively, the “Premises”)

 

		LANDLORD:	USPF IV Laurel Retail Owner, L.P. (“Landlord”)

 

		TENANT:	Cornell University for and on behalf of its Joan and Sanford I. Weill Medical College (“Tenant”)

 

This Estoppel Certificate (“Estoppel
Certificate”) is given to Landlord, ___________________________ and any permitted assignee (“Buyer”) and
any lender (“Lender”) to which the Buyer or any party described in the foregoing clause grants a deed of trust, mortgage
or other lien upon the Property (defined below) (together, the “Benefitted Parties”), by Tenant with the understanding
that the Benefitted Parties will rely on this Estoppel Certificate in connection with Buyer’s acquisition of, and Lender’s
financing of, the Commercial Units (including the Premises) of the Property known as “The Laurel,” located at 1240
First Avenue, New York, New York (the “Property”). All capitalized terms not otherwise defined herein shall
have the meanings provided in the Lease.

 

In consideration of Buyer’s intended
purchase of the Property and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
Tenant hereby certifies to the Benefitted Parties as follows:

 

		1.	The Lease is in full force and effect and has not been amended, modified or supplemented except
pursuant to that certain stipulation of settlement dated July 6, 2011 relating to that certain proceeding entitled 1240 First
Avenue LLC v. Cornell University, Civil Court, New York County, Index Number L&T 77596/09 (the “Stipulation of
Settlement”). Tenant is in material compliance with all terms and conditions of the Stipulation of Settlement and has
neither given nor received written notice that it or the plaintiff under such litigation is in breach or default of such terms
or conditions. There are no other agreements or understandings, whether written or oral, between Tenant and Landlord with respect
to the Lease, the Premises or the Property.

 

		2.	The Commencement Date is March 1, 2008, the Rent Commencement Date is July 1, 2009 and the Expiration
Date is June 30, 2024, subject to the following renewal options: three (3) successive five (5)-year options to renew.

 

    	Exhibit K, Page 1

    	 

    

 

		3.	The minimum annual Base Rent presently payable under the Lease is at the following rates for the
periods indicated: (i) $2,000,000.00 per annum for the period commencing on the Rent Commencement Date through and including the
day immediately preceding the fifth (5th) anniversary of the Rent Commencement Date; (ii) $2,300,000.00 per annum for the period
commencing on the fifth (5th) anniversary of the Rent Commencement Date through and including the day immediately preceding the
tenth (10th) anniversary of the Rent Commencement Date; and (iii) $2,645,000.00 per annum for the period commencing on the tenth
(1Oth) anniversary of the Rent Commencement Date through and including the Expiration Date. The current monthly Base Rent is $166,666.67
and has been paid through August 31, 2011.

 

		4.	Additional rent in respect of escalations in Taxes has been paid through June 30, 2012. Tenant’s
obligation to pay additional rent on account of increases in Condominium Common Charges commenced on July 6, 2011 but no such charges
have yet been billed to Tenant. All additional rent billed to Tenant to date has been paid. There are no pending disputes or contests
between Landlord and Tenant in respect of additional rent payable under the Lease.

 

		5.	No rent has been or will be paid more than (1) month in advance of its due date.

 

		6.	The base year for Condominium Common Charges is the calendar year 2009. The base year for Taxes
is the July 1, 2010 - June 30, 2011 fiscal year of the City of New York.

 

		7.	There is no security deposit under the Lease.

 

		8.	All work required to be performed to the Premises by Landlord under the Lease has been completed,
however, there is a single meter measuring the heated and chilled water for all of the retail space and one sub-meter after the
retail space meter which measures the hot and chilled water delivered to the TD Bank space. As a result, the only way to accurately
measure the Tenant’s use of hot and chilled water is to take the meter reading of the retail space meter minus the meter
reading of the TD Bank meter (TD Bank and the Tenant are the only retail space tenants). All payments, free rent or other credits,
allowances or abatements required to be &riven under the Lease to Tenant with respect to work to be performed to the Premises
by Tenant have been received by Tenant. Tenant has accepted possession of and is in physical occupancy of the entire Premises.

 

		9.	The Lease or any rights in or to the Premises have not been assigned, subleased, transferred or
otherwise hypothecated. The undersigned does not have (a) any option or preferential right to purchase all or any part of the Premises
or the Property, or (b) any right title or interest with respect to the Premises or the Property other than as tenant under the
Lease.

 

		10.	To the best of Tenant’s knowledge: (i) there exists no breach, default or event or condition
which, with the giving of notice or the passage of time or both, would constitute a breach or default by Tenant or Landlord under
the Lease; and (ii) Tenant has no existing claims, defenses or offsets against rental due or to become due under the Lease.

 

    	Exhibit K, Page 2

    	 

    

 

		11.	No actions, whether voluntary or otherwise, are pending against Tenant under the bankruptcy laws
of the United States or any state.

 

		12.	Tenant has no option to expand, rent additional space within the Property or any right of first
refusal with regard to any additional space within the Property. Tenant has no right to occupy any additional space at the Property.

 

		13.	Lender shall not be liable for or bound by any modification or amendment of the Lease, or any waiver
of any terms of the Lease. that (i) materially modifies the economic terms of the Lease, or (ii) materially and adversely affects
Landlord’s obligations under the Lease or Lender’s rights, duties or obligations, unless such modification, amendment,
or waiver is consented to in writing by Lender.

 

		14.	Tenant is not aware of the presence of any hazardous materials at the Premises or the Property.
Tenant represents that, to the best of its knowledge, it has not brought any hazardous materials into the Premises or the Property,
nor to the best of its knowledge, has it caused or permitted any affiliate or third party to do so.

 

The person executing this certificate on
behalf of Tenant is duly authorized to execute this certificate. This certificate is binding on Tenant and its successors and assigns
and may be relied upon by Lender and its successors and assigns, any purchaser of the Premises, and any lender of said Purchaser.

 

Executed by Tenant on ____________, 2014

 

TENANT:

 

CORNELL UNIVERSITY FOR AND ON 

BEHALF
OF ITS JOAN & SANFORD I. WEILL 

MEDICAL COLLEGE

 

 

BY: ______________________________

Name:

Title:

 

    	Exhibit K, Page 3

    	 

    

 

TENANT’S ESTOPPEL CERTIFICATE

 

		LEASE:	Lease dated as of March 30, 2009 between 1240 First Avenue LLC, as owner, and Quik Park East 67th
Street LLC, as tenant (the “Lease”)

 

		LEASED PREMISES:	The-garage space in the building erected at 1240 First
Avenue, New York, New York (the “Premises”)

 

		LANDLORD:	USPF IV Laurel Retail Owner, L.P. (“Landlord”)

 

		TENANT:	Quik Park East 67th Street LLC (“Tenant”)

 

This Estoppel Certificate
(“Estoppel Certificate”) is given to Landlord, _______________ (“Buyer”) and any lender (“Lender”)
to which the Buyer or any party described in the foregoing clause grants a deed of trust, mortgage or other lien upon the Property
(defined below) (together, the “Benefitted Parties”), by Tenant with the understanding that the Benefitted Parties
will rely on this Estoppel Certificate in connection with Buyer’s acquisition of, and Lender’s financing of, the Commercial
Units (including the Premises) of the Property known as “The Laurel,” located at 1240 First Avenue, New York, New York
(the “Property”). All capitalized terms not otherwise defined herein shall have the meanings provided in the Lease.

 

In consideration of Buyer’s
intended purchase of the Property and for other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, Tenant hereby certifies to the Benefitted Parties as follows:

 

		1.	The Lease is in full force and effect and has not been amended, modified or supplemented

 

		2.	The Commencement Date is August 21, 2009, the Rent Commencement Date is February 17, 2010 and the
Expiration Date is November 30, 2011. Tenant has no renewal options.

 

		3.	The minimum Fixed Rent payable under the Lease is at the rate of $54,166.67 per month. Tenant has
paid Rent through _______________ except that Tenant has paid Net Profit Additional Rent through _____________.

 

		4.	No Additional Rent in respect of Tenant’s Tax Payment is currently due or payable. Any other
Additional Rent billed to Tenant to date has been paid. There are no pending disputes or contests between Landlord and Tenant in
respect of Additional Rent payable under the Lease.

 

		5.	No Rent has been or will be paid more than (1) month in advance of its due date.

 

		6.	The base year for Taxes is the July 1, 2009- June 30, 2010 fiscal year of the City of New York.

 

    	Exhibit K, Page 4

    	 

    

 

		7.	Tenant has delivered a letter of credit in the amount of $162,500.00. To the extent applicable, Tenant
waives collection of the deposit against Lender or any purchaser at a foreclosure sale, unless Lender or such purchaser actually
receives the deposit from Landlord.

 

		8.	All work required to be performed to the Premises by Landlord under the Lease has been completed.
All payments, free rent or other credits, allowances or abatements required to be given under the Lease to Tenant with respect
to work to be performed to the Premises by Tenant have been received by Tenant. Tenant has accepted possession of and is in physical
occupancy of the entire Premises.

 

		9.	The Lease or any rights in or to the Premises have not been assigned, subleased, transferred or otherwise
hypothecated. The undersigned does not have (a) any option or preferential right to purchase all or any part of the Premises or
the Property, or (b) any right, title or interest with respect to the Premises or the Property other than as tenant under the Lease.

 

		10.	To the best of Tenant’s knowledge: (i) there exists no breach, default or event or condition
which, with the giving of notice or the passage of time or both, would constitute a breach or default by Tenant or Landlord under
the Lease; and (ii) Tenant has no existing claims, defenses or offsets against rental due or to become due under the Lease.

 

		11.	No actions, whether voluntary or otherwise, are pending against Tenant under the bankruptcy laws of
the United States or any state.

 

		12.	Tenant has no option to expand, rent additional space within the Property or any right of first refusal
with regard to any additional space within the Property. Tenant has no right to occupy any additional space at the Property.

 

		13.	Lender shall not be liable for or bound by any modification or amendment of the Lease, or any waiver
of any terms of the Lease, that (i) materially modifies the economic terms of the Lease, or (ii) materially and adversely affects
Landlord’s obligations under the Lease or Lender’s rights, duties or obligations, unless such modification, amendment,
or waiver is consented to in writing by Lender.

 

		14.	Attached hereto as Exhibit A is a true copy of the Lease.

 

The person executing this certificate on behalf
of Tenant is duly authorized to execute this certificate. This certificate is binding on Tenant arid its successors and assigns
and may be relied upon by Lender and its successors and assigns, any purchaser of the Premises, and any lender of said Purchaser.

 

Executed by Tenant on _______, 2014.

 

    	Exhibit K, Page 5

    	 

    

 

TENANT:

 

QUIK PARK EAST 67th STREET
LLC

 

 

By: ______________________________

Name:

Title:

 

    	Exhibit K, Page 6

    	 

    

 

TENANT'S ESTOPPEL CERTIFICATE

 

		TO:	CERTIFICATE HOLDER: USPF IV Laurel Retail Owner, L.P.
and [INSERT BUYER]

 

		RE:	LEASE AGREEMENT

 

		DATED:	January 8, 20 I 0, as amended by a Letter Agreement
dated March 17, 2010, as amended by Subordination, Non-Disturbance and Attornment Agreement dated March 23, 2010, as amended by
a Letter Agreement dated March 29, 2010, as amended by an Estoppel Certificate dated December 16, 2010, as amended by an Estoppel
Certificate dated April 13, 2011, (herein after referred to as the "Lease")

 

	TENANT:		TD BANK, N.A.

 

TENANT'S NOTICE ADDRESS:

 

TD Bank,N.A

Enterprise Real Estate
I Lease Administration

12000 Horizon Way

Mount Laurel, NJ 08054

 

		cc:	TD Bank, N.A. Legal Department

75 John Roberts
Road

Building
A

South Portland,
ME 041 06

Attn: Real
Estate Attorney

 

	LANDLORD:		USPF IV Laurel Retail Owner, L.P.

 

	PREMISES:		1240 First Avenue
	 	 	Retail Unit
#2
	 	 	New York, NY

 

As of the date listed below, Tenant hereby
certifies the following to the Certificate Holder, to Tenant's present knowledge:

 

		1.	The Lease is in full force and effect.

 

		2.	Except as provided on Exhibit A, (i) any improvements to the Premises required by the Lease to
be provided by Landlord prior to delivery to Tenant have been completed in accordance with the provisions of the Lease, (ii) Tenant
has accepted the Premises and the improvements thereto and has taken possession of the Premises; and (iii) the Construction Allowance
(as defined in the Lease), if any, has been paid to Tenant.

 

		3.	Except as provided on Exhibit A, Landlord is not in default of the Lease, and no event has occurred
and no situation exists which, with notice or the passage of time or both, would constitute a default by Landlord under the Lease.
Except as provided on Exhibit A, no setoffs or credits against rent have presently accrued. Tenant has no present knowledge of
any circumstances which would give rise to any setoff or credit against rental obligations, and Tenant has no defenses to enforcement
of any of Tenant's covenants or obligations under the Lease.

 

    	Exhibit K, Page 7

    	 

    

 

		4.	Except as provided on Exhibit A, Tenant has not assigned or sublet the Premises, or transferred
its interest under the Lease.

 

		5.	The Lease is for a term beginning and ending on the dates specified on Exhibit A. Tenant has option(s)
to extend the term of the Lease for the period(s) set forth on Exhibit A.

 

		6.	The Lease has not been modified, altered or amended except as provided above and contains the entire
existing agreement between Landlord and Tenant.

 

		7.	Rent currently payable by the Tenant under the Lease is specified on Exhibit A and has been paid
through the date listed on Exhibit A.

 

		8.	Tenant has made no payment to Landlord as a security deposit except as indicated on Exhibit A and
Tenant has not prepaid any rent under the Lease more than thirty (30) days prior to its due date.

 

		9.	As of the date hereof, no actions, whether voluntary or otherwise, are pending against Tenant under
the bankruptcy laws of the United States or any state thereof.

 

		10.	Tenant does not have any preferential right or option to purchase all or any part of the Premises
except as provided in the Lease.

 

		11.	Except as provided on Exhibit A, there are no uncured defaults by Tenant under the Lease, and no
event has occurred and no situation exists which, with notice or the passage of time or both, would constitute a default by Tenant
under the Lease.

 

Tenant makes the foregoing statements subject
to the following qualifications: (i) Tenant has not verified the presence and/or absence of any particular co-tenancy in the Shopping
Center and makes no representation concerning co-tenancy or the present availability of any rent concessions and/or termination
right resulting from the failure of any co-tenancy requirement; (ii) Tenant has not verified whether the manner or nature of the
use of other tenants' premises entitles Tenant to any rent concessions and/or termination right and makes no representation with
respect thereto; (iii) Tenant does not represent that any specific item billed to Tenant by Landlord under any additional rent
or other charges section or article of the Lease (e.g., common area maintenance charges, real estate taxes, insurance charges,
electricity, HVAC and the like) is proper and appropriate since Tenant has not audited Landlord's books and records; (iv) Tenant
may be entitled to certain late delivery credits and/or rent abatements or credits pursuant to the terms of the Lease which are
not described on Exhibit A hereto; and (v) Tenant shall not be subject to any liability in damages or otherwise if any statement
made by Tenant herein is found to be untrue.

 

DATED: ____, 2014

 

    	Exhibit K, Page 8

    	 

    

 

TENANT:

 

TD BANK, N.A.

 

 

By: _____________________________

Elizabeth Anela, Vice President,

 

Lease Administration
Lead

 

    	Exhibit K, Page 9

    	 

    

 

ESTOPPEL

EXHIBIT A

 

1240 First Avenue

Retail Unit #2

New York, NY

 

This Exhibit is an integral part of the
Tenant's Estoppel Certificate to which the Exhibit is attached, given by Tenant to USPF IV Laurel Retail Owner, L.P. and [INSERT
BUYER] ("Certificate Holder") as of August 11, 2011.

 

	1) 	Construction Remaining to be	 
	 	Completed by Landlord:	None
	 	 	 
	2) 	Outstanding Construction Allowance: 	None
	 	 	 
	3) 	Default by Landlord: 	None
	 	 	 
	4) 	Setoff Rights which have Accrued: 	None
	 	 	 
	5) 	Assignment or Subletting: 	None
	 	 	 
	6) 	Commencement Date of the Term: 	March 26, 2010
	 	 	 
	7) 	Rent Commencement Date: 	September 22,2010
	 	 	 
	8) 	Expiration Date of Current Term:	September 30, 2025
	 	 	 
	9) 	Remaining Option( s) to Extend: 	Three, 5-year terms
	 	 	 
	10) 	Monthly Base/Minimum Rent: 	$ 68,416.67
	 	 	 
	11)	Rent Paid Through: 	August 31, 2011
	 	 	 
	12) 	Default by Tenant: 	None
	 	 	 
	13) 	Option to Lease 	None
	 	 	 
	14) 	Option to Purchase 	None
	 	 	 
	15) 	Security Deposit 	 

 

    	Exhibit K, Page 10

    	 

    

 

EXHIBIT L

 

Intentionally Deleted

 

    	Exhibit L, Page 1

    	 

    

 

EXHIBIT M

 

EXCEPTIONS TO SELLER’S WARRANTIES

 

 

Liens on Personal Property

 

None

 

 

Notices of Litigation

 

None

 

 

Notices of Contract Defaults

 

None

 

 

Notices of Governmental Violations

 

None

 

 

Notices of Lease Defaults

 

None

 

    	Exhibit M, Page 1

    	 

    

 

EXHIBIT
N

 

SECURITY
DEPOSITS

 

 

TD Bank –
None.

 

Cornell University
– None.

 

Quik Park -
$162,000 Letter of Credit

 

    	Exhibit N, Page 1EX-4.2

 Exhibit 4.2 

FS INVESTMENT CORPORATION 

Issuer 
 and 

U.S. BANK NATIONAL ASSOCIATION 

Trustee 
 Indenture

 Dated as of July 14, 2014 

Providing for the Issuance 

Of 
 Debt Securities

 FS Investment Corporation 

Reconciliation and tie between Trust Indenture Act of 1939 

and Indenture, dated as of July 14, 2014 
  

					
	 Trust Indenture

Act Section
	  	 Indenture

Section

	§310	  	(a)(1)	  	607
		  	(a)(2)	  	607
		  	(b)	  	609
	§312	  	(c)	  	701
	§314	  	(a)	  	704
		  	(a)(4)	  	1005
		  	(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. 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE ONE	  			
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	  			
			
	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.	 	 Conflict with TIA
	  	 	14	  
	SECTION 108.	 	 Effect of Headings and Table of Contents
	  	 	14	  
	SECTION 109.	 	 Successors and Assigns
	  	 	14	  
	SECTION 110.	 	 Separability Clause
	  	 	14	  
	SECTION 111.	 	 Benefits of Indenture
	  	 	14	  
	SECTION 112.	 	 Governing Law
	  	 	14	  
	SECTION 113.	 	 Legal Holidays
	  	 	14	  
	SECTION 114.	 	 Submission to Jurisdiction
	  	 	15	  
		
	ARTICLE TWO	  			
	SECURITIES FORMS	  			
			
	SECTION 201.	 	 Forms of Securities
	  	 	15	  
	SECTION 202.	 	 Form of Trustee’s Certificate of Authentication
	  	 	15	  
	SECTION 203.	 	 Securities Issuable in Global Form
	  	 	16	  
		
	ARTICLE THREE	  			
	THE SECURITIES	  			
			
	SECTION 301.	 	 Amount Unlimited; Issuable in Series
	  	 	17	  
	SECTION 302.	 	 Denominations
	  	 	21	  
	SECTION 303.	 	 Execution, Authentication, Delivery and Dating
	  	 	21	  
	SECTION 304.	 	 Temporary Securities
	  	 	23	  
	SECTION 305.	 	 Registration, Registration of Transfer and Exchange
	  	 	23	  
	SECTION 306.	 	 Mutilated, Destroyed, Lost and Stolen Securities
	  	 	26	  
	SECTION 307.	 	 Payment of Interest; Interest Rights Preserved; Optional Interest Reset
	  	 	26	  
	SECTION 308.	 	 Optional Extension of Maturity
	  	 	29	  
	SECTION 309.	 	 Persons Deemed Owners
	  	 	30	  
	SECTION 310.	 	 Cancellation
	  	 	30	  
	SECTION 311.	 	 Computation of Interest
	  	 	31	  
	SECTION 312.	 	 Currency and Manner of Payments in Respect of Securities
	  	 	31	  
	SECTION 313.	 	 Appointment and Resignation of Successor Exchange Rate Agent
	  	 	34	  
	SECTION 314.	 	 CUSIP Numbers
	  	 	35	  

  
 i 

							
	ARTICLE FOUR	  			
	SATISFACTION AND DISCHARGE	  			
			
	SECTION 401.	 	 Satisfaction and Discharge of Indenture
	  	 	35	  
	SECTION 402.	 	 Application of Trust Funds
	  	 	36	  
		
	ARTICLE FIVE	  			
	REMEDIES	  			
			
	SECTION 501.	 	 Events of Default
	  	 	36	  
	SECTION 502.	 	 Acceleration of Maturity; Rescission and Annulment
	  	 	38	  
	SECTION 503.	 	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	39	  
	SECTION 504.	 	 Trustee May File Proofs of Claim
	  	 	40	  
	SECTION 505.	 	 Trustee May Enforce Claims Without Possession of Securities
	  	 	41	  
	SECTION 506.	 	 Application of Money Collected
	  	 	41	  
	SECTION 507.	 	 Limitation on Suits
	  	 	42	  
	SECTION 508.	 	 Unconditional Right of Holders to Receive Principal, Premium and Interest
	  	 	42	  
	SECTION 509.	 	 Restoration of Rights and Remedies
	  	 	42	  
	SECTION 510.	 	 Rights and Remedies Cumulative
	  	 	43	  
	SECTION 511.	 	 Delay or Omission Not Waiver
	  	 	43	  
	SECTION 512.	 	 Control by Holders of Securities
	  	 	43	  
	SECTION 513.	 	 Waiver of Past Defaults
	  	 	43	  
	SECTION 514.	 	 Waiver of Stay or Extension Laws
	  	 	44	  
		
	ARTICLE SIX	  			
	THE TRUSTEE	  			
			
	SECTION 601.	 	 Notice of Defaults
	  	 	44	  
	SECTION 602.	 	 Certain Rights of Trustee
	  	 	45	  
	SECTION 603.	 	 Not Responsible for Recitals or Issuance of Securities
	  	 	48	  
	SECTION 604.	 	 May Hold Securities
	  	 	48	  
	SECTION 605.	 	 Money Held in Trust
	  	 	48	  
	SECTION 606.	 	 Compensation and Reimbursement and Indemnification of Trustee
	  	 	48	  
	SECTION 607.	 	 Corporate Trustee Required; Eligibility
	  	 	50	  
	SECTION 608.	 	 Disqualification; Conflicting Interests
	  	 	50	  
	SECTION 609.	 	 Resignation and Removal; Appointment of Successor
	  	 	50	  
	SECTION 610.	 	 Acceptance of Appointment by Successor
	  	 	51	  
	SECTION 611.	 	 Merger, Conversion, Consolidation or Succession to Business
	  	 	52	  
	SECTION 612.	 	 Appointment of Authenticating Agent
	  	 	53	  
		
	ARTICLE SEVEN	  			
	HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY	  			
			
	SECTION 701.	 	 Company to Furnish Trustee Names and Addresses of Holders
	  	 	55	  
	SECTION 702.	 	 Preservation of Information; Communications to Holders
	  	 	55	  
	SECTION 703.	 	 Reports by Trustee
	  	 	55	  

  
 ii 

							
	SECTION 704.	 	 Reports by Company
	  	 	56	  
	SECTION 705.	 	 Calculation of Original Issue Discount
	  	 	57	  
		
	ARTICLE EIGHT	  			
	CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER	  			
			
	SECTION 801.	 	 Company May Consolidate, Etc., Only on Certain Terms
	  	 	57	  
	SECTION 802.	 	 Successor Person Substituted
	  	 	57	  
		
	ARTICLE NINE	  			
	SUPPLEMENTAL INDENTURES	  			
			
	SECTION 901.	 	 Supplemental Indentures Without Consent of Holders
	  	 	58	  
	SECTION 902.	 	 Supplemental Indentures with Consent of Holders
	  	 	59	  
	SECTION 903.	 	 Execution of Supplemental Indentures
	  	 	60	  
	SECTION 904.	 	 Effect of Supplemental Indentures
	  	 	60	  
	SECTION 905.	 	 Conformity with Trust Indenture Act
	  	 	61	  
	SECTION 906.	 	 Reference in Securities to Supplemental Indentures
	  	 	61	  
		
	ARTICLE TEN	  			
	COVENANTS	  			
			
	SECTION 1001.	 	 Payment of Principal, Premium, if any, and Interest
	  	 	61	  
	SECTION 1002.	 	 Maintenance of Office or Agency
	  	 	61	  
	SECTION 1003.	 	 Money for Securities Payments to Be Held in Trust
	  	 	62	  
	SECTION 1004.	 	 Additional Amounts
	  	 	63	  
	SECTION 1005.	 	 Statement as to Compliance
	  	 	64	  
	SECTION 1006.	 	 Waiver of Certain Covenants
	  	 	64	  
		
	ARTICLE ELEVEN	  			
	REDEMPTION OF SECURITIES	  			
			
	SECTION 1101.	 	 Applicability of Article
	  	 	64	  
	SECTION 1102.	 	 Election to Redeem; Notice to Trustee
	  	 	65	  
	SECTION 1103.	 	 Selection by Trustee of Securities to Be Redeemed
	  	 	65	  
	SECTION 1104.	 	 Notice of Redemption
	  	 	66	  
	SECTION 1105.	 	 Deposit of Redemption Price
	  	 	67	  
	SECTION 1106.	 	 Securities Payable on Redemption Date
	  	 	67	  
	SECTION 1107.	 	 Securities Redeemed in Part
	  	 	67	  
		
	ARTICLE TWELVE	  			
	SINKING FUNDS	  			
			
	SECTION 1201.	 	 Applicability of Article
	  	 	68	  
	SECTION 1202.	 	 Satisfaction of Sinking Fund Payments with Securities
	  	 	68	  
	SECTION 1203.	 	 Redemption of Securities for Sinking Fund
	  	 	68	  

  
 iii 

							
	ARTICLE THIRTEEN	  			
	REPAYMENT AT THE OPTION OF HOLDERS	  			
			
	SECTION 1301.	 	 Applicability of Article
	  	 	69	  
	SECTION 1302.	 	 Repayment of Securities
	  	 	69	  
	SECTION 1303.	 	 Exercise of Option
	  	 	70	  
	SECTION 1304.	 	 When Securities Presented for Repayment Become Due and Payable
	  	 	70	  
	SECTION 1305.	 	 Securities Repaid in Part
	  	 	71	  
		
	ARTICLE FOURTEEN	  			
	DEFEASANCE AND COVENANT DEFEASANCE	  			
			
	SECTION 1401.	 	 Applicability of Article; Company’s Option to Effect Defeasance or Covenant Defeasance
	  	 	71	  
	SECTION 1402.	 	 Defeasance and Discharge
	  	 	71	  
	SECTION 1403.	 	 Covenant Defeasance
	  	 	72	  
	SECTION 1404.	 	 Conditions to Defeasance or Covenant Defeasance
	  	 	72	  
	SECTION 1405.	 	 Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions
	  	 	73	  
		
	ARTICLE FIFTEEN	  			
	MEETINGS OF HOLDERS OF SECURITIES	  			
			
	SECTION 1501.	 	 Purposes for Which Meetings May Be Called
	  	 	74	  
	SECTION 1502.	 	 Call, Notice and Place of Meetings
	  	 	75	  
	SECTION 1503.	 	 Persons Entitled to Vote at Meetings
	  	 	75	  
	SECTION 1504.	 	 Quorum; Action
	  	 	75	  
	SECTION 1505.	 	 Determination of Voting Rights; Conduct and Adjournment of Meetings
	  	 	76	  
	SECTION 1506.	 	 Counting Votes and Recording Action of Meetings
	  	 	77	  
		
	ARTICLE SIXTEEN	  			
	SUBORDINATION OF SECURITIES	  			
			
	SECTION 1601.	 	 Agreement to Subordinate
	  	 	78	  
	SECTION 1602.	 	 Distribution on Dissolution, Liquidation and Reorganization; Subrogation of Subordinated Securities
	  	 	78	  
	SECTION 1603.	 	 No Payment on Subordinated Securities in Event of Default on Senior Indebtedness
	  	 	80	  
	SECTION 1604.	 	 Payments on Subordinated Securities Permitted
	  	 	80	  
	SECTION 1605.	 	 Authorization of Holders to Trustee to Effect Subordination
	  	 	80	  
	SECTION 1606.	 	 Notices to Trustee
	  	 	80	  
	SECTION 1607.	 	 Trustee as Holder of Senior Indebtedness
	  	 	81	  
	SECTION 1608.	 	 Modifications of Terms of Senior Indebtedness
	  	 	81	  
	SECTION 1609.	 	 Reliance on Judicial Order or Certificate of Liquidating Agent
	  	 	82	  

  
 iv 

 INDENTURE, dated as of July 14, 2014, between FS INVESTMENT CORPORATION, a Maryland
corporation (hereinafter called the “Company”), having its principal office at Cira Centre, 2929 Arch Street, Suite 675, Philadelphia, Pennsylvania 19104, and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as Trustee
(hereinafter called the “Trustee”), having its office at One Federal Street, 3rd Floor, Boston, Massachusetts 02110. 
 RECITALS
OF THE COMPANY 
 The Company deems it necessary to issue from time to time for its lawful purposes debt securities (hereinafter called
the “Securities”) evidencing its secured or unsecured indebtedness, which may or may not be convertible into or exchangeable for any securities of any Person (as defined herein) (including the Company), 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, unlimited as to principal amount, to bear such rates of interest, to mature at such times and to have such
other provisions as shall be fixed as hereinafter provided. 
 This Indenture (as defined herein) is subject to the provisions of the Trust
Indenture Act of 1939, as amended, that are required to be part of 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 (as defined herein) 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 and, pursuant to Section 301, any such item may, with respect to any particular series of Securities, be amended or modified or specified as being
inapplicable; 
 (2) all other terms used herein that are defined in the Trust Indenture Act (as defined herein), either directly or by
reference therein, have the meanings assigned to them therein, and the terms “cash transaction” and “self-liquidating paper”, as used in Section 311 of the Trust Indenture Act, shall have the meanings assigned to them in the
rules of the Commission (as defined herein) adopted under the Trust Indenture Act; 

 (3) all accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with generally accepted accounting principles in the United States of America; and 
 (4) 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. 

Certain terms, used in other Articles herein, are defined in those Articles. 

“Act”, when used with respect to any Holder of a Security, has the meaning specified in Section 104. 

“Additional Amounts” means any additional amounts that are required by a Security or by or pursuant to a Board Resolution,
under circumstances specified therein, to be paid by the Company in respect of certain taxes imposed on certain Holders and that are owing to such Holders. 

“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 authenticating agent appointed by the Trustee pursuant to Section 612 to act on behalf
of the Trustee to authenticate Securities of one or more series. 
 “Authorized Newspaper” means a newspaper, 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. Where successive publications are required to be made in Authorized Newspapers, the successive publications may be made in the same or in different newspapers in the same city meeting
the foregoing requirements and in each case on any Business Day. 
 “Board of Directors” means the board of directors of
the Company, the executive committee or any committee of that board duly authorized to act hereunder. 
 “Board Resolution”
means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors (or by a committee of the Board of Directors, to the extent that any such other committee has been
authorized by the Board of Directors to establish or approve the matters contemplated) and to be in full force and effect on the date of such certification, and 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 pursuant to Section 301, each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in that Place of Payment or
particular location are authorized or obligated by law or executive order to close. 

  
 2 

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

“Company Request” and “Company Order” mean, respectively, a written request or order signed in the name of
the Company by the Chief Executive Officer, President, an Executive Vice President or a Vice President of the Company, and by the Chief Financial Officer, Chief Compliance Officer, Treasurer, Secretary or an Assistant Secretary of the Company, and
delivered to the Trustee. 
 “Conversion Date” has the meaning specified in Section 312(d). 

“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 Euro within the Economic and Monetary Union of the European Union or
(iii) any currency unit (or composite currency) other than the Euro for the purposes for which it was established. 

“Corporate Trust Office” means the principal office of the Trustee at which at any time its corporate trust business shall be
administered, which office at the date hereof for purposes of Section 1002 only is located at 111 Fillmore Ave., St. Paul, MN 55107, Attention: FS Investment Corporation, and for all other purposes is located at One Federal Street, 10th Floor, Boston, Massachusetts 02110, Attention: FS Investment Corporation, or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the
principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Holders and the Company). 

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

“Currency” means any currency or currencies, composite currency or currency unit or currency units issued by the government
of one or more countries or by any reorganized confederation or association of such governments. 
 “Default” means any
event that is, or after notice or passage of time or both would be, an Event of Default. 
 “Defaulted Interest” has the
meaning specified in Section 307. 
 “Depository” means the clearing agency registered under the Exchange Act that is
designated to act as the Depository for global Securities. DTC shall be the initial Depository, until a successor shall have been appointed and become such pursuant to the applicable provisions of this Indenture, and thereafter,
“Depository” shall mean or include such successor. 

  
 3 

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

“DTC” means The Depository Trust Company. 

“Election Date” has the meaning specified in Section 312(h). 

“Euro” means the euro or other equivalent unit in such official coin or currency of the European Union. 

“Event of Default” has the meaning specified in Article Five. 

“Exchange Act” means the United States Securities Exchange Act of 1934, and the rules and regulations promulgated by the
Commission thereunder and any statute successor thereto, in each case as amended from time to time. 
 “Exchange Rate
Agent”, with respect to Securities of or within any series, means, unless otherwise specified with respect to any Securities pursuant to Section 301, a bank that is a member of the New York Clearing House Association, designated
pursuant to Section 301 or Section 313. 
 “Exchange Rate Officer’s Certificate” means a certificate setting
forth (i) the applicable Market Exchange Rate or the applicable bid quotation and (ii) the Dollar or Foreign Currency amounts of principal (and premium, if any) and interest, if any (on an aggregate basis and on the basis of a Security
having the lowest denomination principal amount determined in accordance with Section 302 in the relevant Currency), payable with respect to a Security of any series on the basis of such Market Exchange Rate or the applicable bid quotation
signed by the Chief Financial Officer or any Vice President of the Company. 
 “Foreign Currency” means any Currency,
including, without limitation, the Euro 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. 

“Government Obligations” means securities that are (i) direct obligations of the United States of America or the
government that 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 (ii) obligations of a Person controlled or supervised by and acting as an
agency or instrumentality of the United States of America or such government that issued the Foreign Currency in which the Securities of such series are payable, the timely 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 shall also include 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

  
 4 

 
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 the Person in whose name a Security is registered in the Security Register. 

“Indenture” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or
more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, 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
from time to time be supplemented or amended 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 that relate solely to other series of Securities for which such Person is not 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 as to which all or certain interest payments and/or the principal amount payable at
Maturity are determined by reference to prices, changes in prices, or differences between prices, of securities, Currencies, intangibles, goods, articles or commodities or by such other objective price, economic or other measures as are specified in
or pursuant to Section 301 hereof. 
 “Interest”, when used with respect to an Original Issue Discount Security which
by its terms bears interest only after Maturity, means interest payable after Maturity, and, when used with respect to a Security which provides for the payment of Additional Amounts pursuant to Section 1004, includes such Additional Amounts.

 “Interest Payment Date”, when used with respect to any Security, means the Stated Maturity of an installment of interest
on such Security. 
 “Market Exchange Rate” means, unless otherwise specified with respect to any Securities pursuant to
Section 301, (i) for any conversion involving a currency unit on the one hand and Dollars or any Foreign Currency on the other, the exchange rate between the relevant currency unit and Dollars or such Foreign Currency calculated by the
method specified pursuant to Section 301 for the Securities of the relevant series, (ii) for any conversion of Dollars into any Foreign Currency, the noon buying rate for such Foreign Currency for cable transfers quoted in New York City as
certified for customs purposes by the Federal Reserve Bank of New York and (iii) for any conversion of one Foreign Currency into Dollars or another Foreign Currency, the spot rate at noon local time in the relevant market at which, in
accordance with normal banking 

  
 5 

 
procedures, the Dollars or Foreign Currency into which conversion is being made could be purchased with the Foreign Currency from which conversion is being made from major banks located in either
New York City, London or any other principal market for Dollars or such purchased Foreign Currency, in each case determined by the Exchange Rate Agent. Unless otherwise specified with respect to any Securities pursuant to Section 301, in the
event of the unavailability of any of the exchange rates provided for in the foregoing clauses (i), (ii) and (iii), the Exchange Rate Agent shall use, in its sole discretion and without liability on its part, such quotation of the Federal
Reserve Bank of New York as of the most recent available date, or quotations from one or more major banks in New York City, London or other principal market for such currency or currency unit in question, or such other quotations as the Exchange
Rate Agent shall deem appropriate. Unless otherwise specified by the Exchange Rate Agent, if there is more than one market for dealing in any currency or currency unit by reason of foreign exchange regulations or otherwise, the market to be used in
respect of such currency or currency unit shall be that upon which a nonresident issuer of securities designated in such currency or currency unit would purchase such currency or currency unit in order to make payments in respect of such securities
as determined by the Exchange Rate Agent, in its sole discretion. 
 “Maturity”, when used with respect to any Security,
means the date on which the principal 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, notice of exchange or conversion or otherwise. 
 “Notice of Default” has the meaning provided in
Section 501. 
 “Officers’ Certificate” means a certificate signed by the Chief Executive Officer, President, an
Executive Vice President or a Vice President of the Company, and by the Chief Financial Officer, Chief Compliance Officer, Treasurer, 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 and who shall be reasonably satisfactory to the Trustee. 
 “Original Issue Discount
Security” means any Security that provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 

“Outstanding”, when used with respect to Securities or any series of Securities, means, as of the date of determination, all
Securities or all Securities of such series, as the case may be, theretofore authenticated and delivered under this Indenture, except: 

(i) Securities theretofore cancelled by the Trustee or delivered to the Trustee for cancellation; 

(ii) Securities, or portions thereof, for whose payment or redemption or 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

  
 6 

 
own Paying Agent) for the Holders of such Securities, provided 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; 

(iv) Securities that have been changed into any other securities of the Company or any other Person in accordance with this
Indenture if the terms of such Securities provide for convertibility or exchangeability pursuant to Section 301; and 

(v) 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 protected 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 as of the date such Security
is originally issued by the Company as set forth in an Exchange Rate Officer’s Certificate delivered to the Trustee, of the principal amount (or, in the case of an Original Issue Discount Security or Indexed Security, the Dollar equivalent as
of such date of original issuance of the amount determined as provided in clause (i) above or (iii) below, respectively) 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 or upon any such determination as to the presence of a quorum, only Securities which a
Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so owned 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. 

  
 7 

 “Paying Agent” means any Person authorized by the Company to pay the principal
of (or premium, if any) or interest, if any, on any Securities on behalf of the Company. 
 “Person” means any individual,
corporation, partnership, joint venture, association, joint-stock company, limited liability company, trust, unincorporated organization or government or any agency or political subdivision thereof, or any other entity. 

“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, if any) and interest, if any, on such Securities are payable as specified and 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 shall be deemed to
evidence the same debt as the mutilated, destroyed, lost or stolen Security. 
 “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 at which it is to be redeemed
pursuant to this Indenture. 
 “Registered Security” means any Security that 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”, when used with respect to any Security to be repaid at the option of the Holder, means the date fixed for such repayment by or pursuant to this Indenture. 

“Repayment Price”, when used with respect to any Security to be repaid at the option of the Holder, means the price at which
it is to be repaid by or pursuant to this Indenture. 
 “Responsible Officer”, when used with respect to the Trustee, means
any officer of the Trustee assigned by the Trustee to administer its corporate trust matters and who shall have direct responsibility for the administration of this Indenture. 

“Security” or “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. 

  
 8 

 “Security Register” and “Security Registrar” have the
respective meanings specified in Section 305. 
 “Senior Indebtedness” means the principal of (and premium, if any)
and unpaid interest on (a) indebtedness of the Company (including indebtedness of others guaranteed by the Company), whether outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money borrowed, that has
been designated by the Company as “Senior Indebtedness” for purposes of this Indenture by a Company Order delivered to the Trustee, (b) Senior Securities, and (c) renewals, extensions, modifications and refinancings of any such
indebtedness. 
 “Senior Security” or “Senior Securities” means any Security or Securities designated
pursuant to Section 301 as a Senior Security. 
 “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 Trustee 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 as the fixed date on which the principal of such Security or such installment of
principal or interest is due and payable, as such date may be extended pursuant to the provisions of Section 308. 

“Subordinated Indebtedness” means the principal of (and premium, if any) and unpaid interest on (a) indebtedness of the
Company (including indebtedness of others guaranteed by the Company), whether outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money borrowed, which in the instrument creating or evidencing the same or
pursuant to which the same is outstanding it is provided that such indebtedness ranks junior in right of payment to the Company’s Senior Indebtedness, equally and pari passu in right of payment with all other Subordinated Indebtedness,
(b) Subordinated Securities, and (c) renewals, extensions, modifications and refinancings of any such Subordinated Indebtedness. 

“Subordinated Security” or “Subordinated Securities” means any Security or Securities designated pursuant to
Section 301 as a Subordinated Security. 
 “Subsidiary” means (1) any corporation a majority of the outstanding
voting stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries of the Company, (2) any other Person (other than a corporation) in which such Person, one or more Subsidiaries of such Person, or such
Person and one or more Subsidiaries of such Person, directly or indirectly, at the date of determination thereof has a majority ownership interest, or (3) a partnership in which such Person or a Subsidiary of such Person is, at the time, a
general partner and in which such Person, directly or indirectly, at the date of determination thereof has a majority ownership interest. For the purposes of this definition, “voting stock” means stock having voting power for the election
of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 

“Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended, as in force at the date as
of which this Indenture was executed, except as provided in Section 905. 

  
 9 

 “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. 

“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, any
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, any state thereof or the District of Columbia (other than a partnership that is
not treated as a United States person under any applicable Treasury regulations), any estate the income of which is subject to United States federal income taxation regardless of its source, or any trust if a court within the United States is able
to exercise primary supervision over the administration of the trust and one or more United States persons have the authority to control all substantial decisions of the trust. Notwithstanding the preceding sentence, to the extent provided in the
Treasury regulations, certain trusts in existence on August 20, 1996, and treated as United States persons prior to such date that elect to continue to be treated as United States persons, will also be United States persons. 

“Valuation Date” has the meaning specified in Section 312(c). 

“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 (other than pursuant to Section 1005) 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 or she has made such examination or investigation as is necessary to enable such individual 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 as 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 as 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. 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 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 

  
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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 or her 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 that the Trustee deems sufficient. 

(c) The ownership of Registered Securities shall be proved by the Security Register. 

(d) 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. Such record date shall be the record date specified in or pursuant to such Board Resolution. 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. 
 (e) 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 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. 

  
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 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, filed or mailed, first-class postage prepaid in writing to or with the Trustee at its Corporate Trust Office, Attention: FS Investment Corporation (Karen R. Beard), or at any other address
previously furnished in writing to the Company by the Trustee, 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, to
the attention of its Secretary or at any other address previously furnished in writing to the Trustee by the Company, or if in writing and sent by facsimile transmission or email to the facsimile number or email address designated by the Trustee,
followed by delivery of original documentation within one Business Day. 
 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, by overnight courier guaranteeing next day delivery, or by facsimile transmission or email, followed by delivery of original
documentation within one Business Day, to each such Holder affected by such event, at his address, facsimile number or email address, as applicable, as it appears in the Security Register, not later than the latest date, and not earlier than the
earliest date, prescribed for the giving of such notice. In any case where notice to Holders of Registered Securities is given by mail or by overnight courier guaranteeing next day delivery, or where notice is given by facsimile or email with the
original documentation to follow, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such notice with respect to other Holders of Registered Securities. Any
notice mailed or sent 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, facsimile or email, 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. 

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. 

  
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 SECTION 107. Conflict with TIA. 

If any provision of this Indenture limits, qualifies or conflicts with a provision of the TIA that is required under the TIA to be a part of
and govern this Indenture, the provision of the TIA shall control. If any provision of this Indenture modifies or excludes any provision of the TIA that may be so modified or excluded, the provision of the TIA shall be deemed to apply to this
Indenture as so modified or only to the extent not so excluded, as the case may be. 
 SECTION 108. Effect of Headings and Table of Contents. 

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

SECTION 109. 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 110.
Separability Clause. 
 In case any provision in this Indenture or in any Security shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 111. Benefits of
Indenture. 
 Nothing in this Indenture or in the Securities, 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 112. Governing Law. 
 This
Indenture and the Securities shall be governed by and construed in accordance with the law of the State of New York without regard to principles of conflicts of laws. This Indenture is subject to the provisions of the Trust Indenture Act that are
required to be part of this Indenture and shall, to the extent applicable, be governed by such provisions. 
 SECTION 113. 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 shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or any Security other than a provision in the Securities of any series which specifically states that such

  
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provision shall apply in lieu of this Section), payment of principal (or premium, if any) or interest, if any, need not be made at such Place of Payment on such date, but may be made on the next
succeeding Business Day at such Place of Payment with the same force and effect as if made on the Interest Payment Date, Redemption Date, Repayment Date or sinking fund payment date, or at the Stated Maturity or Maturity; 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 114. Submission to Jurisdiction. 

The Company hereby irrevocably submits to the non-exclusive jurisdiction of any New York state or federal court sitting in The City of New York
in any action or proceeding arising out of or relating to the Indenture and the Securities of any series, and the Company hereby irrevocably agrees that all claims in respect of such action or proceeding may be heard and determined in such New York
state or federal court. The Company hereby irrevocably waives, to the fullest extent it may effectively do so, the defense of an inconvenient forum to the maintenance of such action or proceeding. 

ARTICLE TWO 
 SECURITIES
FORMS 
 SECTION 201. Forms of Securities. 

The Registered Securities of each series, the temporary global Securities of each series, if any, and the permanent global Securities of each
series, if any, shall be in substantially the forms 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 stock exchange on which the Securities may be listed, or to conform to usage. 
 The definitive Securities
shall be printed, lithographed or engraved or produced by any combination of these methods on a steel engraved border or steel engraved borders or may be produced in any other manner, all as determined by the officers executing such Securities, as
evidenced by their execution of such Securities. 
 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. 

  
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	U.S. Bank National Association, as Trustee
		
	By	 	 
		 	Authorized Officer

 SECTION 203. Securities Issuable in Global Form. 

If Securities of or within a series are issuable in global form, as specified as contemplated by Section 301, then, notwithstanding clause
(8) of Section 301 and the provisions of Section 302, any such Security shall represent such of the Outstanding Securities of such series as shall be specified therein and may provide that it shall represent the aggregate amount of
Outstanding Securities of such series from time to time endorsed thereon and 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 a Security in global form to reflect the amount, or any increase or decrease in the amount, of Outstanding Securities represented thereby shall be made by the Trustee or the Security Registrar in such manner and upon instructions given 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 or the
Security Registrar shall deliver and redeliver any 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, delivery or redelivery of a Security in global form 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 Security in global form if such Security was never issued and sold by the Company and the Company delivers to the Trustee or the Security Registrar the Security in global form 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 premium, if any) and interest, if any, on any Security in permanent global form shall be made to the Person or Persons specified therein. 

Notwithstanding the provisions of Section 309 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, the Holder of such permanent global Security. 

Unless otherwise specified as contemplated by Section 301 for the Securities evidenced thereby, every global Security authenticated and
delivered hereunder shall bear a legend in substantially the following form: 

  
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 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO
AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON
OTHER THAN SUCH DEPOSITORY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 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 as Registered Securities and shall be designated as Senior
Securities or Subordinated Securities. Senior Securities are unsubordinated, shall rank equally and pari passu with all of the Company’s other Senior Indebtedness and senior to all of the Company’s Subordinated Indebtedness.
Subordinated Securities shall rank junior to the Company’s Senior Indebtedness and equally and pari passu with all of the Company’s other Subordinated Indebtedness. 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, or determined in the manner provided, in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior
to the issuance of Securities of any series, any or all of the following, as applicable (each of which (except for the matters set forth in clauses (1), (2) and (15) below), if so provided, may be determined from time to time by the
Company with respect to unissued Securities of the series when issued from time to time): 
 (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 in exchange for, or in lieu of, other
Securities of the series pursuant to Section 304, 305, 306, 906, 1107 or 1305, and except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); 

(3) the date or dates, or the method by which such date or dates will be determined or extended, on which the principal of the Securities of
the series shall be payable; 
 (4) the rate or rates at which the Securities of the series shall bear interest, if any, or the method by
which such rate or rates shall be determined, the date or dates from which such interest shall accrue or the method by which such date or dates shall be determined, the Interest Payment Dates on which such interest will be payable and the Regular
Record Date, if any, for the interest payable on any Registered Security on any Interest Payment Date, or the method by which such date shall be determined, the basis upon which such interest shall be calculated if other than that of a 360-day year
of twelve 30-day months; 

  
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 (5) the place or places, if any, other than or in addition to the Borough of Manhattan, The City
of New York, where the principal of (and premium, if any) and interest, if any, on Securities of the series shall be payable, any Registered Securities of the series may be surrendered for registration of transfer, Securities of the series may be
surrendered for exchange, where Securities of that series that are convertible or exchangeable may be surrendered for conversion or exchange, as applicable, and where notices or demands to or upon the Company in respect of the Securities of the
series and this Indenture may be served; 
 (6) the period or periods within which, or the date or dates on which, the price or prices at
which, the Currency or Currencies in which, and other terms and conditions upon which Securities of the series may be redeemed, in whole or in part, at the option of the Company, if the Company is to have the option; 

(7) the obligation, if any, of the Company to redeem, repay or purchase Securities of the series pursuant to any sinking fund or analogous
provision or at the option of a Holder thereof, and the period or periods within which or the date or dates on which, the price or prices at which, the Currency or Currencies in which, and other terms and conditions upon which Securities of the
series shall be redeemed, repaid or purchased, in whole or in part, pursuant to such obligation; 
 (8) if other than denominations of $1,000
and any integral multiple thereof, the denomination or denominations in which any Registered Securities of the series shall be issuable; 

(9) if other than the Trustee, the identity of each Security Registrar and/or Paying Agent; 

(10) if other than the principal amount thereof, the portion of the principal amount of Securities of the series that shall be payable upon
declaration of acceleration of the Maturity thereof pursuant to Section 502, upon redemption of the Securities of the series which are redeemable before their Stated Maturity, upon surrender for repayment at the option of the Holder, or which
the Trustee shall be entitled to claim pursuant to Section 504 or the method by which such portion shall be determined; 
 (11) if other
than Dollars, the Currency or Currencies in which payment of the principal of (or premium, if any) or interest, if any, on the Securities of the series shall be made or in which the Securities of the series shall be denominated and the particular
provisions applicable thereto in accordance with, in addition to or in lieu of any of the provisions of Section 312; 
 (12) whether the
amount of payments of principal of (or premium, if any) or interest, if any, on the Securities of the series may be determined with reference to an index, formula or other method (which index, formula or method may be based, without limitation, on
one or more Currencies, commodities, equity indices or other indices), and the manner in which such amounts shall be determined; 

  
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 (13) whether the principal of (or premium, if any) or interest, if any, on the Securities of the
series are to be payable, at the election of the Company or a Holder thereof, in one or more Currencies other than that in which such Securities are denominated or stated to be payable, the period or periods within which (including the Election
Date), and the terms and conditions upon which, such election may be made, and the time and manner of determining the exchange rate between the Currency or Currencies in which such Securities are denominated or stated to be payable and the Currency
or Currencies in which such Securities are to be paid, in each case in accordance with, in addition to or in lieu of any of the provisions of Section 312; 

(14) provisions, if any, granting special rights to the Holders of Securities of the series upon the occurrence of such events as may be
specified; 
 (15) any deletions from, modifications of or additions to the Events of Default or covenants (including any deletions from,
modifications of or additions to any of the provisions of Section 1006) 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; 
 (16) 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 and, if so, whether beneficial owners of interests in any such permanent global Security may exchange such interests for Securities of such series in certificated form and of like tenor of any
authorized form and denomination and the circumstances under which any such exchanges may occur, if other than in the manner provided in Section 305, and the circumstances under which and the place or places where such exchanges may be made and
if Securities of the series are to be issuable as a global Security, the identity of the depository for such series; 
 (17) the date as of
which 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; 

(18) the Person to whom any interest on any Registered Security of the series shall be payable, if other than the Person in whose name such
Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, 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; and the extent to which, or the manner in which, any interest payable on a permanent global Security on an Interest Payment Date will be paid if other than in the manner provided in Section 307; 

(19) the applicability, if any, of Sections 1402 and/or 1403 to the Securities of the series and any provisions in modification of, in addition
to or in lieu of any of the provisions of Article Fourteen; 
 (20) 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; 

  
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 (21) whether, under what circumstances and the Currency in which, the Company will pay Additional
Amounts as contemplated by Section 1004 on the Securities of the series to any Holder who is not a United States person (including any modification to the definition of such term) in respect of any tax, assessment or governmental charge and, if
so, whether the Company will have the option to redeem such Securities rather than pay such Additional Amounts (and the terms of any such option); 

(22) the designation of the initial Exchange Rate Agent, if any; 

(23) if the Securities of the series are to be issued upon the exercise of warrants, the time, manner and place for such Securities to be
authenticated and delivered; 
 (24) if the Securities of the series are to be convertible into or exchangeable for any securities of any
Person (including the Company), the terms and conditions upon which such Securities will be so convertible or exchangeable; 
 (25) if the
Securities of the series are to be secured, the terms and conditions upon which such Securities will be so secured; 
 (26) the appointment
of any calculation agent, foreign currency exchange agent or other additional agents; 
 (27) if the Securities of the series are to be
listed on a securities exchange, the name of such exchange may be indicated; 
 (28) the guarantees, if any, of the Securities of the series,
and the extent of the guarantees (including provisions relating to seniority, subordination and the release of the guarantors), if any, and any additions or changes to permit or facilitate guarantees of such Securities; and 

(29) any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture or the requirements of the
Trust Indenture Act). 
 All Securities of any one series shall be substantially identical except as to denomination and except as may
otherwise be provided in or pursuant to the Board Resolution referred to above (subject to Section 303) and set forth in the Officers’ Certificate referred to above 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. 

  
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 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 Registered Securities of such series, other than Registered Securities issued in global form (which may be of
any denomination) shall be issuable in denominations of $1,000 and any integral multiple thereof. 
 SECTION 303. Execution, Authentication, Delivery and
Dating. 
 The Securities shall be executed on behalf of the Company by its Chief Executive Officer, its President, its Chief Financial
Officer or any of its Executive Vice Presidents or Vice Presidents and attested by its Secretary or any of its Assistant Secretaries. The signature of any of these officers on the Securities may be manual or by facsimile, .pdf attachment or other
electronically transmitted signature (with an original manual signature to be sent to the Trustee via overnight mail immediately thereafter) of the present or any future such authorized officer and may be imprinted or otherwise reproduced on the
Securities. 
 Securities bearing the 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. 

At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of any series
executed by the Company, to the Trustee for authentication, together with a Company Order and an Officers’ Certificate and Opinion of Counsel in accordance with Section 102 for the authentication and delivery of such Securities, and the
Trustee in accordance with the Company Order shall authenticate and deliver such Securities. 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, 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, 

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

(b) that the terms of such Securities have been established in conformity with the provisions of this Indenture; and 

  
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 (c) that such Securities, 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 binding obligations of the Company, enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization and other similar laws of general
applicability relating to or affecting the enforcement of creditors’ rights, to general equitable principles and to such other qualifications as such counsel shall conclude do not materially affect the rights of Holders of such Securities; and

 (ii) an Officers’ Certificate stating, 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. 
 Notwithstanding the provisions of
Section 301 and of this Section 303, 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 the Company
Order, Opinion of Counsel or 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. 
 If such form or terms
have been so established, the Trustee shall not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties, obligations or immunities under the Securities
and this Indenture or otherwise in a manner that is not reasonably acceptable to the Trustee. Notwithstanding the generality of the foregoing, the Trustee will not be required to authenticate Securities denominated in a Foreign Currency if the
Trustee reasonably believes that it would be unable to perform its duties with respect to such Securities. 
 Each Registered Security shall
be dated the date of its authentication. 
 No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for
any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein duly executed by the Trustee or an Authenticating Agent 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 shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the Trustee for cancellation as provided in Section 310 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. 

  
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 SECTION 304. Temporary Securities. 

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 that 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 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 Securities in global form (which shall be
exchanged as provided in or pursuant to a Board Resolution), 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, the Company shall execute and the Trustee shall authenticate and deliver in exchange therefor a like principal
amount and like tenor of definitive Securities of the same series of authorized denominations. 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. 
 SECTION 305. Registration, Registration of Transfer 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, and for facilitating exchanges of temporary global Securities for permanent global Securities or definitive Securities, or both, or of permanent global Securities for definitive Securities, or
both, as herein provided. In the event that the Trustee shall cease to be Security Registrar, it shall have the right to examine the Security Register at all reasonable times. In acting hereunder and in connection with the Securities, the Security
Registrar shall act solely as an agent of the Company, and will not thereby assume any obligations towards or relationship of agency or trust for or with any Holder. 

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. 

  
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 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 Registered Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the Registered Securities that the Holder making the exchange is entitled to receive.

 Whenever any Securities are so surrendered for exchange, the Company shall execute, and the Trustee shall authenticate and deliver, the
Securities that the Holder making the exchange is entitled to receive. 
 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 any beneficial owner of an interest in a permanent global Security is 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 deliver to the Trustee definitive Securities in aggregate principal amount equal to the principal amount
of such beneficial owner’s interest in such permanent global Security, executed by the Company. On or after the earliest date on which such interests may be so exchanged, such permanent global Security shall be surrendered by the depository
specified as contemplated by Section 3.01 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, or to the Security Registrar, to be exchanged, in
whole or from time to time in part, for definitive Securities of the same series without charge and the Trustee shall authenticate and deliver, in exchange for each portion of such permanent 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 permanent global Security to be exchanged; 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. 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 Record Date and before the opening of business at such office or agency on the related proposed date for payment of Defaulted Interest or 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. 

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

Every Registered Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the
Security Registrar or any transfer agent) 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 or any transfer
agent duly authorized in writing. 
 No service charge shall be made for any registration of transfer or exchange of Securities, but the
Company or the Trustee may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to
Section 304, 906, 1107 or 1305 not involving any transfer. 
 The Company 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 the day of 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 issue, register the transfer of or exchange any Security that has been surrendered for repayment at the option of the Holder, except the portion, if any, of
such Security not to be so repaid. 
 The Trustee shall have no responsibility or obligation to any beneficial owner of a global Security, a
member of, or a participant in, DTC or other Person with respect to the accuracy of the records of DTC or its nominee or of any participant or member thereof, with respect to any ownership interest in the Securities or with respect to the delivery
to any participant, member, beneficial owner or other Person (other than DTC) of any notice (including any notice of redemption or purchase) or the payment of any amount or delivery of any Securities (or other security or property) under or with
respect to such Securities. All notices and communications to be given to the Holders and all payments to be made to Holders in respect of the Securities shall be given or made only to or upon the order of the registered Holders (which shall be DTC
or its nominee in the case of a global Security). The rights of beneficial owners in any global Security shall be exercised only through DTC subject to the applicable rules and procedures of DTC. The Trustee may rely and shall be fully protected in
relying upon information furnished by DTC with respect to its members, participants and any beneficial owners. 
 The Trustee shall have no
obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between
or among DTC participants, members or beneficial owners in any global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the
terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. Neither the Trustee nor any of its agents shall have any responsibility for any actions taken or not taken by DTC.

  
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 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities. 

If any mutilated Security 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. 
 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, 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 has been acquired by a protected purchaser, the Company shall, subject to the following paragraph, execute and upon its request the Trustee shall authenticate
and deliver, in lieu of any such destroyed, lost or stolen Security, a new Security of the same series and principal amount, containing identical terms and provisions and bearing a number not contemporaneously outstanding. 

Notwithstanding the provisions of the previous two paragraphs, in case any such mutilated, destroyed, lost or stolen Security has become or is
about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the
issuance of any new Security under this Section, the Company, the Paying Agent, or the Security Registrar 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 reasonable and documented fees and expenses of the Trustee, the Paying Agent, or the Security Registrar) connected therewith. 

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

SECTION 307. Payment of Interest; Interest Rights Preserved; Optional Interest Reset. 

(a) Except as otherwise specified with respect to a series of Securities in accordance with the provisions of Section 301, interest, if
any, 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

  
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close of business on the Regular Record Date for such interest at the office or agency of the Company maintained for such purpose pursuant to Section 1002; provided, however,
that each installment of interest, if any, 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 309, to the address of such Person as it appears on the Security Register or (ii) transfer to an account maintained by the payee located in the United States. 

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 in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series and except, if applicable, as
provided in Sections 312(b), 312(d) and 312(e)) 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. 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). 
 (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 securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given
by the Company to the Trustee of the proposed payment pursuant to this clause, such manner of payment shall be deemed practicable by the Trustee. 

  
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 (b) The provisions of this Section 307(b) may be made applicable to any series of Securities
pursuant to Section 301 (with such modifications, additions or substitutions as may be specified pursuant to such Section 301). The interest rate (or the spread or spread multiplier used to calculate such interest rate, if applicable) on
any Security of such series may be reset by the Company on the date or dates specified on the face of such Security (each an “Optional Reset Date”). The Company may exercise such option with respect to such Security by notifying the
Trustee of such exercise at least 45 but not more than 60 days prior to an Optional Reset Date for such Security. Not later than 35 days prior to each Optional Reset Date, the Trustee shall transmit, in the manner provided for in Section 106,
to the Holder of any such Security a notice (the “Reset Notice”) indicating whether the Company has elected to reset the interest rate (or the spread or spread multiplier used to calculate such interest rate, if applicable), and if so
(i) such new interest rate (or such new spread or spread multiplier, if applicable) and (ii) the provisions, if any, for redemption during the period from such Optional Reset Date to the next Optional Reset Date or if there is no such next
Optional Reset Date, to the Stated Maturity of such Security (each such period a “Subsequent Interest Period”), including the date or dates on which or the period or periods during which and the price or prices at which such redemption may
occur during the Subsequent Interest Period. 
 Notwithstanding the foregoing, not later than 20 days prior to the Optional Reset Date (or
if 20 days does not fall on a Business Day, the next succeeding Business Day), the Company may, at its option, revoke the interest rate (or the spread or spread multiplier used to calculate such interest rate, if applicable) provided for in the
Reset Notice and establish a higher interest rate (or a spread or spread multiplier providing for a higher interest rate, if applicable) for the Subsequent Interest Period by causing the Trustee to transmit, in the manner provided for in
Section 106, notice of such higher interest rate (or such higher spread or spread multiplier providing for a higher interest rate, if applicable) to the Holder of such Security. Such notice shall be irrevocable. All Securities with respect to
which the interest rate (or the spread or spread multiplier used to calculate such interest rate, if applicable) is reset on an Optional Reset Date, and with respect to which the Holders of such Securities have not tendered such Securities for
repayment (or have validly revoked any such tender) pursuant to the next succeeding paragraph, will bear such higher interest rate (or such higher spread or spread multiplier providing for a higher interest rate, if applicable). 

The Holder of any such Security will have the option to elect repayment by the Company of the principal of such Security on each Optional
Reset Date at a price equal to the principal amount thereof plus interest accrued to such Optional Reset Date. In order to obtain repayment on an Optional Reset Date, the Holder must follow the procedures set forth in Article Thirteen for repayment
at the option of Holders except that the period for delivery or notification to the Trustee shall be at least 25 but not more than 35 days prior to such Optional Reset Date and except that, if the Holder has tendered any Security for repayment
pursuant to the Reset Notice, the Holder may, by written notice to the Trustee, revoke such tender or repayment until the close of business on the tenth day before such Optional Reset Date. 

  
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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 in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, that were carried by such other Security. 

SECTION 308. Optional Extension of Maturity. 

The provisions of this Section 308 may be made applicable to any series of Securities pursuant to Section 301 (with such
modifications, additions or substitutions as may be specified pursuant to such Section 301). The Stated Maturity of any Security of such series may be extended at the option of the Company for the period or periods specified on the face of such
Security (each an “Extension Period”) up to but not beyond the date (the “Final Maturity”) set forth on the face of such Security. The Company may exercise such option with respect to any Security by notifying the Trustee of such
exercise at least 45 but not more than 60 days prior to the Stated Maturity of such Security in effect prior to the exercise of such option (the “Original Stated Maturity”). If the Company exercises such option, the Trustee shall transmit,
in the manner provided for in Section 106, to the Holder of such Security not later than 35 days prior to the Original Stated Maturity a notice (the “Extension Notice”), prepared by the Company, indicating (i) the election of the
Company to extend the Stated Maturity, (ii) the new Stated Maturity, (iii) the interest rate (or spread, spread multiplier or other formula to calculate such interest rate, if applicable), if any, applicable to the Extension Period and
(iv) the provisions, if any, for redemption during such Extension Period. Upon the Trustee’s transmittal of the Extension Notice, the Stated Maturity of such Security shall be extended automatically and, except as modified by the Extension
Notice and as described in the next paragraph, such Security will have the same terms as prior to the transmittal of such Extension Notice. 

Notwithstanding the foregoing, not later than 20 days before the Original Stated Maturity (or if 20 days does not fall on a Business Day, the
next succeeding Business Day) of such Security, the Company may, at its option, revoke the interest rate (or spread, spread multiplier or other formula to calculate such interest rate, if applicable) provided for in the Extension Notice and
establish a higher interest rate (or spread, spread multiplier or other formula to calculate such higher interest rate, if applicable) for the Extension Period by causing the Trustee to transmit, in the manner provided for in Section 106,
notice of such higher interest rate (or spread, spread multiplier or other formula to calculate such interest rate, if applicable) to the Holder of such Security. Such notice shall be irrevocable. All Securities with respect to which the Stated
Maturity is extended will bear such higher interest rate. 
 If the Company extends the Stated Maturity of any Security, the Holder will
have the option to elect repayment of such Security by the Company on the Original Stated Maturity at a price equal to the principal amount thereof, plus interest accrued to such date. In order to obtain repayment on the Original Stated Maturity
once the Company has extended the Stated Maturity thereof, the Holder must follow the procedures set forth in Article Thirteen for repayment at the option of Holders, except that the period for delivery or notification to the Trustee shall be at
least 25 but not more than 35 days prior to the Original Stated Maturity and except that, if the Holder has tendered any Security for repayment pursuant to an Extension Notice, the Holder may by written notice to the Trustee revoke such tender for
repayment until the close of business on the tenth day before the Original Stated Maturity. 

  
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 SECTION 309. 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 shall treat the Person in whose name such Registered Security is registered as the owner of such Registered Security for the purpose of receiving payment of principal of (and premium, if any) and (subject to Sections 305 and 307) interest,
if any, 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. 
 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 Security in global form or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

Notwithstanding the foregoing, with respect to any global temporary or permanent 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 310. Cancellation. 
 All
Securities surrendered for payment, redemption, repayment at the option of the Holder, registration of transfer 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 surrendered directly to the Trustee for any such purpose shall be promptly cancelled by the Trustee. 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 held by the Trustee shall be destroyed by the Trustee in accordance with its customary procedures, unless by a Company Order the Company directs the Trustee to deliver a certificate of such
destruction to the Company or to return them to the Company. 

  
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 SECTION 311. Computation of Interest. 

Except as otherwise specified as contemplated by Section 301 with respect to Securities of any series, interest, if any, on the Securities
of each series shall be computed on the basis of a 360-day year consisting of twelve 30-day months. 
 SECTION 312. Currency and Manner of Payments in
Respect of Securities. 
 (a) Unless otherwise specified with respect to any Securities pursuant to Section 301, with respect to
Registered Securities of any series not permitting the election provided for in paragraph (b) below or the Holders of which have not made the election provided for in paragraph (b) below, payment of the principal of (and premium, if any,
on) and interest, if any, on any Registered Security of such series will be made in the Currency in which such Registered Security is payable. The provisions of this Section 312 may be modified or superseded with respect to any Securities
pursuant to Section 301. 
 (b) It may be provided pursuant to Section 301 with respect to Registered Securities of any series that
Holders shall have the option, subject to paragraphs (d) and (e) below, to receive payments of principal of (or premium, if any, on) or interest, if any, on such Registered Securities in any of the Currencies which may be designated for
such election by delivering to the Trustee for such series of Registered Securities a written election with signature guarantees and in the applicable form established pursuant to Section 301, not later than the close of business on the
Election Date immediately preceding the applicable payment date. If a Holder so elects to receive such payments in any such Currency, such election will remain in effect for such Holder or any transferee of such Holder until changed by such Holder
or such transferee by written notice to the Trustee for such series of Registered Securities (but any such change must be made not later than the close of business on the Election Date immediately preceding the next payment date to be effective for
the payment to be made on such payment date and no such change of election may be made with respect to payments to be made on any Registered Security of such series with respect to which an Event of Default has occurred or with respect to which the
Company has deposited funds pursuant to Article Four or Fourteen or with respect to which a notice of redemption has been given by the Company or a notice of option to elect repayment has been sent by such Holder or such transferee). Any Holder of
any such Registered Security who shall not have delivered any such election to the Trustee of such series of Registered Securities not later than the close of business on the applicable Election Date will be paid the amount due on the applicable
payment date in the relevant Currency as provided in Section 312(a). The Trustee for each such series of Registered Securities shall notify the Exchange Rate Agent as soon as practicable after the Election Date of the aggregate principal amount
of Registered Securities for which Holders have made such written election. 
 (c) Unless otherwise specified pursuant to Section 301,
if the election referred to in paragraph (b) above has been provided for pursuant to Section 301, then, not later than the fourth Business Day after the Election Date for each payment date for Registered Securities of any series, the
Exchange Rate Agent will deliver to the Company a written notice specifying the Currency in which Registered Securities of such series are payable, the respective aggregate amounts of principal of (and premium, if any, on) and interest, if any, on
the Registered Securities to be paid on such payment date, specifying the amounts in such Currency so payable 

  
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in respect of the Registered Securities as to which the Holders of Registered Securities denominated in any Currency shall have elected to be paid in another Currency as provided in paragraph
(b) above. Unless the Trustee is acting as the Exchange Rate Agent, the Trustee shall have no obligation to complete the actual exchange of distribution amounts from one Currency to another Currency. If the election referred to in paragraph
(b) above has been provided for pursuant to Section 301 and if at least one Holder has made such election, then, unless otherwise specified pursuant to Section 301, on the second Business Day preceding such payment date the Company
will deliver to the Trustee for such series of Registered Securities an Exchange Rate Officer’s Certificate in respect of the Dollar or Foreign Currency or Currencies payments to be made on such payment date. Unless otherwise specified pursuant
to Section 301, the Dollar or Foreign Currency or Currencies amount receivable by Holders of Registered Securities who have elected payment in a Currency as provided in paragraph (b) above shall be determined by the Company on the basis of
the applicable Market Exchange Rate in effect on the second Business Day (the “Valuation Date”) immediately preceding each payment date, and such determination shall be conclusive and binding for all purposes, absent manifest error. 

(d) If a Conversion Event occurs with respect to a Foreign Currency in which any of the Securities are denominated or payable other than
pursuant to an election provided for pursuant to paragraph (b) above, then with respect to each date for the payment of principal of (and premium, if any) and interest, if any, on the applicable Securities denominated or payable in such Foreign
Currency occurring after the last date on which such Foreign Currency was used (the “Conversion Date”), the Dollar shall be the currency of payment for use on each such payment date. Unless otherwise specified pursuant to Section 301,
the Dollar amount to be paid by the Company to the Trustee of each such series of Securities and by such Trustee or any Paying Agent to the Holders of such Securities with respect to such payment date shall be, in the case of a Foreign Currency
other than a currency unit, the Dollar Equivalent of the Foreign Currency or, in the case of a currency unit, the Dollar Equivalent of the Currency Unit, in each case as determined by the Exchange Rate Agent in the manner provided in paragraph
(f) or (g) below. 
 (e) Unless otherwise specified pursuant to Section 301, if the Holder of a Registered Security
denominated in any Currency shall have elected to be paid in another Currency as provided in paragraph (b) above, and a Conversion Event occurs with respect to such elected Currency, such Holder shall receive payment in the Currency in which
payment would have been made in the absence of such election; and if a Conversion Event occurs with respect to the Currency in which payment would have been made in the absence of such election, such Holder shall receive payment in Dollars as
provided in paragraph (d) of this Section 312. 
 (f) The “Dollar Equivalent of the Foreign Currency” shall be determined
by the Exchange Rate Agent and shall be obtained for each subsequent payment date by converting the specified Foreign Currency into Dollars at the Market Exchange Rate on the Conversion Date. 

(g) The “Dollar Equivalent of the Currency Unit” shall be determined by the Exchange Rate Agent and subject to the provisions of
paragraph (h) below shall be the sum of each amount obtained by converting the Specified Amount of each Component Currency into Dollars at the Market Exchange Rate for such Component Currency on the Valuation Date with respect to each payment.

  
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 (h) For purposes of this Section 312, the following terms shall have the following meanings:

 A “Component Currency” shall mean any currency which, on the Conversion Date, was a component currency of
the relevant currency unit. 
 A “Specified Amount” of a Component Currency shall mean the number of units
of such Component Currency or fractions thereof which were represented in the relevant currency unit on the Conversion Date. If after the Conversion Date the official unit of any Component Currency is altered by way of combination or subdivision,
the Specified Amount of such Component Currency shall be divided or multiplied in the same proportion. If after the Conversion Date two or more Component Currencies are consolidated into a single currency, the respective Specified Amounts of such
Component Currencies shall be replaced by an amount in such single currency equal to the sum of the respective Specified Amounts of such consolidated Component Currencies expressed in such single currency, and such amount shall thereafter be a
Specified Amount and such single currency shall thereafter be a Component Currency. If after the Conversion Date any Component Currency shall be divided into two or more currencies, the Specified Amount of such Component Currency shall be replaced
by amounts of such two or more currencies, having an aggregate Dollar Equivalent value at the Market Exchange Rate on the date of such replacement equal to the Dollar Equivalent of the Specified Amount of such former Component Currency at the Market
Exchange Rate immediately before such division, and such amounts shall thereafter be Specified Amounts and such currencies shall thereafter be Component Currencies. If, after the Conversion Date of the relevant currency unit, a Conversion Event
(other than any event referred to above in this definition of “Specified Amount”) occurs with respect to any Component Currency of such currency unit and is continuing on the applicable Valuation Date, the Specified Amount of such
Component Currency shall, for purposes of calculating the Dollar Equivalent of the Currency Unit, be converted into Dollars at the Market Exchange Rate in effect on the Conversion Date of such Component Currency. 

An “Election Date” shall mean the Regular Record Date for the applicable series of Registered Securities or at
least 16 days prior to Maturity, as the case may be, or such other prior date for any series of Registered Securities as specified pursuant to clause 13 of Section 301 by which the written election referred to in Section 312(b) may be
made. 
 All decisions and determinations of the Exchange Rate Agent regarding the Dollar Equivalent of the Foreign Currency, the Dollar
Equivalent of the Currency Unit, the Market Exchange Rate and changes in the Specified Amounts as specified above shall be in its sole discretion and shall, in the absence of manifest error, be conclusive for all purposes and irrevocably binding
upon the Company, the Trustee for the appropriate series of Securities and all Holders of such Securities denominated or payable in the relevant Currency. The Exchange Rate Agent shall promptly give written notice to the Company and the Trustee for
the appropriate series of Securities of any such decision or determination. 

  
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 In the event that the Company determines in good faith that a Conversion Event has occurred with
respect to a Foreign Currency, the Company will immediately give written notice thereof to the Trustee of the appropriate series of Securities and to the Exchange Rate Agent (and such Trustee will promptly thereafter give notice in the manner
provided in Section 106 to the affected Holders) specifying the Conversion Date. In the event the Company so determines that a Conversion Event has occurred with respect to any other currency unit in which Securities are denominated or payable,
the Company will immediately give written notice thereof to the Trustee of the appropriate series of Securities and to the Exchange Rate Agent (and such Trustee will promptly thereafter give notice in the manner provided in Section 106 to the
affected Holders) specifying the Conversion Date and the Specified Amount of each Component Currency on the Conversion Date. In the event the Company determines in good faith that any subsequent change in any Component Currency as set forth in the
definition of Specified Amount above has occurred, the Company will similarly give written notice to the Trustee of the appropriate series of Securities and to the Exchange Rate Agent. 

The Trustee of the appropriate series of Securities shall be fully justified and protected in relying and acting upon information received by
it from the Company and the Exchange Rate Agent and shall not otherwise have any duty or obligation to determine the accuracy or validity of such information independent of the Company or the Exchange Rate Agent. 

SECTION 313. Appointment and Resignation of Successor Exchange Rate Agent. 

(a) Unless otherwise specified 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 this Indenture, then the Company will engage and maintain with respect to each such series of Securities, or as so
required, at least one Exchange Rate Agent. The Company will cause the Exchange Rate Agent to make the necessary foreign exchange determinations at the time and in the manner specified pursuant to Section 301 for the purpose of determining the
applicable rate of exchange and, if applicable, for the purpose of converting the issued Foreign Currency into the applicable payment Currency for the payment of principal (and premium, if any) and interest, if any, pursuant to Section 312.

 (b) No resignation of the Exchange Rate Agent and no appointment of a successor Exchange Rate Agent pursuant to this Section shall become
effective until the acceptance of appointment by the successor Exchange Rate Agent as evidenced by a written instrument delivered to the Company and the Trustee of the appropriate series of Securities accepting such appointment executed by the
successor Exchange Rate Agent. 
 (c) If the Exchange Rate Agent shall resign, be removed or become incapable of acting, or if a vacancy
shall occur in the office of the Exchange Rate Agent 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 Exchange Rate Agent or Exchange Rate
Agents with respect to the Securities of that or those series (it being understood that any such successor Exchange Rate Agent may be appointed with respect to the Securities of one or more or all of such series and that, unless otherwise specified
pursuant to Section 301, at any time there shall only be one Exchange Rate Agent with respect to the Securities of any particular series that are originally issued by the Company on the same date and that are initially denominated and/or
payable in the same Currency). 

  
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 SECTION 314. CUSIP Numbers. 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall indicate the
respective “CUSIP” numbers of the Securities in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the
Securities or as contained in any notice of 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 shall advise the Trustee as promptly as practicable in writing of any change in the CUSIP numbers. 
 ARTICLE FOUR 

SATISFACTION AND DISCHARGE 
 SECTION
401. Satisfaction and Discharge of Indenture. 
 Except as set forth below, 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 exchange of Securities of such series expressly provided for herein or pursuant hereto, any
surviving rights of tender for repayment at the option of the Holders and any right to receive Additional Amounts, as provided in Section 1004), and the Trustee, upon receipt of a Company Order, and at the expense of the Company, shall execute
proper instruments acknowledging satisfaction and discharge of this Indenture as to such series when 
 (1) either 

(A) all Securities of such series theretofore authenticated and delivered (other than (i) Securities of such series which
have been destroyed, lost or stolen and which have been replaced or paid as provided in Section 306 and (ii) Securities of such series for whose payment money has theretofore been deposited in trust with the Trustee or any Paying Agent 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 

(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, 

  
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 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 such purpose, solely for the benefit of the Holders, an amount in the Currency in which the Securities of such series are payable, sufficient to pay and discharge the entire
indebtedness on such Securities not theretofore delivered to the Trustee for cancellation, for principal (and premium, if any) and interest, if any, 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 irrevocably paid or caused to be irrevocably
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 612 and, if money shall have been deposited with 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 any termination of this Indenture. 
 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 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, if any) and interest, if any, 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. In acting under this Indenture and in connection with the Securities, the Paying Agent shall act solely as an agent of the Company, and will not thereby assume any obligations towards or relationship
of agency or trust for or with any Holder. 
 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), unless it is either inapplicable to a particular series or is specifically deleted or modified in or pursuant to the supplemental indenture or a Board Resolution establishing such series of Securities or is
in the form of Security for such series: 

  
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 (1) default in the payment of any interest upon any Security of that series when such interest
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, if any, on) any Security of that series when it becomes due and payable at its Maturity, and continuance of such default for a period of 5 days; or 

(3) default in the deposit of any sinking fund payment, when and as due by the terms of any Security of that series, and continuance of such
default for a period of 5 days; or 
 (4) default in the performance, or breach, of any covenant or agreement of the Company in this
Indenture with respect to any Security of that series (other than a covenant or agreement 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 90 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; 
 (5) the Company, pursuant to or within the meaning of any Bankruptcy Law: 

(A) commences a voluntary case or proceeding under any Bankruptcy Law, 

(B) consents to the commencement of any bankruptcy or insolvency case or proceeding against it, or files a petition or answer
or consent seeking reorganization or relief against it, 
 (C) consents to the entry of a decree or order for relief against
it in an involuntary case or proceeding, 
 (D) consents to the filing of such petition or to the appointment of or taking
possession by a Custodian of the Company or for all or substantially all of its property, or 
 (E) makes an assignment for
the benefit of creditors, or admits in writing of its inability to pay its debts generally as they become due or takes any corporate action in furtherance of any such action; or 

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

(A) is for relief against the Company in an involuntary case or proceeding, or 

  
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 (B) adjudges the Company bankrupt or insolvent, or approves as properly filed a
petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company, or 
 (C) appoints a
Custodian of the Company or for all or substantially all of its property, or 
 (D) orders the winding up or liquidation of
the Company, 
 and the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a period of 90
consecutive days; or 
 (7) if, pursuant to Sections 18(a)(1)(c)(ii) and 61 of the Investment Company Act of 1940, as amended, on the last
business day of each of twenty-four consecutive calendar months Securities of that series shall have an asset coverage (as such term is used in the Investment Company Act of 1940) of less than 100 per centum, giving effect to any exemptive
relief granted to the Company by the Commission; 
 (8) any other Event of Default provided with respect to Securities of that series. 

The term “Bankruptcy Law” means title 11, U.S. Code or any applicable federal or state bankruptcy, insolvency, reorganization or other similar law.
The term “Custodian” means any custodian, receiver, trustee, assignee, liquidator, sequestrator 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 (and the Trustee shall at the request of such Holders) declare the principal (or, if any Securities 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. 
 Any
application by the Trustee for written instructions from the requisite amount of Holders (as determined pursuant to this Indenture) may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee
under this Indenture and the date on and/or after which such action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in
such application on or after the date specified in such application unless prior to taking any such action (or the effective date in the case of an omission), the Trustee shall have received written instructions from the requisite amount of Holders
(as determined pursuant to this Indenture) in response to such application specifying the action to be taken or omitted. 

  
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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 provided in this Article, 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 and its consequences if: 
 (1) the Company has paid or
deposited with the Trustee a sum sufficient to pay in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series and except, if applicable, as
provided in Sections 312(b), 312(d) and 312(e)): 
 (A) all overdue installments of interest, if any, on all Outstanding
Securities of that series, 
 (B) the principal of (and premium, if any, on) all 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, if any) or interest on Securities of that series that 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 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, 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 Securities of such series, the whole amount then due
and payable on such Securities for principal (and premium, if any) and interest, if any, with interest upon any overdue principal (and premium, if any) and, to the extent that payment of such interest shall be legally enforceable, upon any overdue
installments of interest, if any, at the rate or rates borne by or 

  
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provided for in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the reasonable and documented costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee and its agents and counsel, the Paying Agent and the Security Registrar. 

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 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 by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights, whether for the specific enforcement of any
covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 
 SECTION 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 any overdue principal,
premium or interest) shall be entitled and empowered, by intervention in such proceeding or otherwise: 
 (i) to file and
prove a claim for the whole amount of principal (or in the case of Original Issue Discount Securities or Indexed Securities, such portion of the principal as may be provided for in the terms thereof) (and premium, if any) and interest, if any, owing
and unpaid in respect of the Securities and to file such other papers or documents, and take such other actions, including serving on a committee of creditors, 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 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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 Subject to Article Eight and Section 902 and unless otherwise provided as contemplated by
Section 301, 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 any plan of reorganization, arrangement, adjustment or composition affecting the
Securities or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder of a Security in any such proceeding. 

SECTION 505. Trustee May Enforce Claims Without Possession of Securities. 

All rights of action and claims under this Indenture or any of the Securities may be prosecuted and enforced by the Trustee without the
possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name and 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 in respect of which such judgment has
been recovered. 
 The Trustee shall be entitled to participate, in its capacity as Trustee, on behalf of (and at the request of) the
Holders, as a member of any official committee of creditors in the matters it deems advisable. 
 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, if any) or interest, if any, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully
paid: 
 FIRST: To the payment of all amounts due the Trustee and any predecessor Trustee under Section 606 and any
other agent hereunder; 
 SECOND: To the payment of the amounts then due and unpaid upon the Securities for principal (and
premium, if any) and interest, if any, in respect of which or for the benefit of which such money has been collected, giving effect to Article XVI, if applicable, but otherwise ratably, without preference or priority of any kind, according to the
aggregate amounts due and payable on such Securities for principal (and premium, if any) and interest, if any, respectively; and 

THIRD: To the payment of the remainder, if any, to the Company or any other Person or Persons entitled thereto. 

  
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 SECTION 507. Limitation on Suits. 

No Holder of any Security of any series 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; 
 (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, security, or both, 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 and/or security 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
and Interest. 
 Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right which is absolute
and unconditional to receive payment of the principal of (and premium, if any) and (subject to Sections 305 and 307) interest, if any, on such Security on the Stated Maturity or Maturities expressed in such Security (or, in the case of redemption,
on the Redemption Date or, in the case of repayment at the option of the Holders on the Repayment 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 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 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. 

  
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 SECTION 510. Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities 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 is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by
law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the
concurrent assertion or employment of any other appropriate right or remedy. 
 SECTION 511. Delay or Omission Not Waiver. 

No delay or omission of the Trustee or of any Holder of any Security to exercise any right or remedy accruing upon any 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, as the case may be. 
 SECTION 512. Control by Holders of Securities.

 Subject to Section 602, the Holders of 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 that is not inconsistent with such direction, 

(3) the Trustee need not take any action that might involve it in personal liability or be unjustly prejudicial to the Holders of Securities of
such series not consenting; and 
 (4) Prior to taking any such action hereunder, the Trustee may demand security or indemnity satisfactory
to it in accordance with Section 602. 
 SECTION 513. Waiver of Past Defaults. 

Subject to Section 502, 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 waive any past default hereunder with respect to Securities of such series and its consequences, except a default 

  
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 (1) in the payment of the principal of (or premium, if any) or interest, if any, on any Security
of such series, 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. 
 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. 

SECTION 514. Waiver of Stay or Extension Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, that 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. 

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 a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorney’s
fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section 515 does not apply to a suit by the Trustee, a suit by a Holder
pursuant to Section 508 hereof, or a suit by Holders of more than 10% in principal amount of the then Outstanding Securities, or to any action, suit or proceeding instituted by any Holder of Securities of any series for the enforcement of the
payment of the principal or premium, if any, or the interest on, any of the Securities of such series, on or after the respective due dates expressed in such Securities. 

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 a Responsible Officer of the Trustee, unless such Default shall have been cured or waived; provided, however, that, except in the
case of a Default in the payment of the principal of (or premium, if any) or interest, if any, on 

  
 44 

 
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 determines that the withholding of such notice is in the interest of the Holders of the
Securities 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 of such series, no such notice to Holders shall be given
until at least 90 days after the occurrence thereof. 
 SECTION 602. Certain Rights and Duties of Trustee. 

(1) Prior to the time when the occurrence of an Event of Default becomes known to a Responsible Officer of the Trustee and after the curing or
waiving of all such Events of Default with respect to a series of Securities that may have occurred: 
 (a) the duties and obligations of the
Trustee hereunder and with respect to the Securities of any series shall be determined solely by the express provisions of this Indenture, including without limitation Section 107 of this Indenture, and the Trustee shall not be liable with
respect to the Securities except for the performance of such duties and obligations as are specifically set forth in this Indenture, including without limitation Section 107 of this Indenture, and no implied covenants or obligations shall be
read into this Indenture against the Trustee; and 
 (b) in the absence of bad faith on the part of the Trustee, the Trustee may conclusively
rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture; but in the case of any such certificates
or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform on their face to the requirements of this Indenture
(but need not confirm or investigate the accuracy of any mathematical calculations or other facts stated therein). 
 (2) If an Event of
Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent Person would exercise or use under the circumstances in
the conduct of such person’s own affairs. 
 (3) No provision of this Indenture shall be construed to relieve the Trustee from liability
for its own grossly negligent action, its own grossly negligent failure to act or its own willful misconduct, except that the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer or Responsible Officers,
unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts. 
 (4) 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 believed by
it to be genuine and to have been signed or presented by the proper party or parties. 

  
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 (5) 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, 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. 
 (6) 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 require and, in the absence of bad faith on its part, rely
upon a Board Resolution, an Opinion of Counsel or an Officers’ Certificate. 
 (7) The Trustee may consult with counsel and the written
advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

(8) 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 pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities (including the
reasonable and documented fees and expenses of its agents and counsel) which might be incurred by it in compliance with such request or direction. 

(9) 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, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it
may see fit, and, if the Trustee shall determine to make such further inquiry or investigation, it shall be entitled upon reasonable notice and at reasonable times during normal business hours to examine the books, records and premises of the
Company, personally or by agent or attorney. 
 (10) 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 willful misconduct or gross negligence on the part of any agent or attorney appointed with due care by it hereunder. 

(11) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual
knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture. 

(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 to each agent, custodian and other Person retained to act hereunder. 

  
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 (13) The permissive rights of the Trustee enumerated herein shall not be construed as duties and
the Trustee shall not be answerable for other than its own grossly negligent action, its own grossly negligent failure to act or its own willful misconduct with respect to such permissive rights. 

(14) The Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the
direction of the Holders of not less than a majority in principal amount of the Outstanding Securities of a 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 such Securities. 
 (15) The Trustee shall not be liable for any
action taken or omitted to be taken by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture. 

(16) 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. 
 (17) Anything in this Indenture notwithstanding, in no event shall the
Trustee be liable for special, indirect, punitive or consequential loss or damage of any kind (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and
regardless of the form of action. 
 (18) The Trustee shall not be responsible or liable for any failure or delay in the performance of its
obligations under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including without limitation, acts of God; earthquakes; fire; flood; terrorism; wars and other military disturbances;
sabotage; epidemics; riots; interruptions; loss or malfunctions of utilities, computer (hardware or software) or communications services; accidents; labor disputes; acts of civil or military authorities and governmental action. 

Every provision of this Indenture relating to the conduct of, or affecting the liability of, or affording protection to, the Trustee shall be
subject to the relevant provisions of this Section 602 and the TIA. 
 The Trustee shall not be required to expend or risk its own
funds, give any bond or surety in respect of the performance of its powers and duties hereunder, 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. 

  
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 The parties hereto acknowledge that in order to help the United States government fight the
funding of terrorism and money laundering activities, pursuant to Federal regulations that became effective on October 1, 2003 (Section 326 of the USA PATRIOT Act) all financial institutions are required to obtain, verify, record and update
information that identifies each person establishing a relationship or opening an account. The parties to this Indenture agree that they will provide to the Trustee such information as it may request, from time to time, in order for the Trustee to
satisfy the requirements of the USA PATRIOT Act, including but not limited to the name, address, tax identification number and other information that will allow it to identify the individual or entity who is establishing the relationship or opening
the account and may also ask for formation documents such as articles of incorporation or other identifying documents to be provided. 
 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, 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, except that the Trustee represents that it is duly authorized to execute and deliver this Indenture, authenticate the Securities and perform its obligations hereunder and that the statements made
by it in a Statement of Eligibility on Form T-1 supplied to the Company are true and accurate, subject to the qualifications set forth therein. Neither the Trustee nor any Authenticating Agent shall be accountable for the use or application by the
Company of Securities or the proceeds thereof. 
 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, 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 with the Company. 
 SECTION 606. Compensation and
Reimbursement and Indemnification of Trustee. 
 The Company agrees: 

(1) To pay to the Trustee or any predecessor Trustee from time to time such reasonable compensation for all services rendered by it hereunder
as has been agreed upon from time to time in writing (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, disbursements and advances incurred or made by the Trustee or any predecessor Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents,
counsel, accountants and experts), except any such expense, disbursement or advance as may be attributable to its gross negligence or willful misconduct. 

  
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 (3) To indemnify each of the Trustee or any predecessor Trustee and their respective officers,
directors, employees, representatives and agents, for, and to hold it harmless against, any loss, liability or expense incurred without gross negligence or willful misconduct on its own part, arising out of or in connection with the acceptance or
administration of the trust or trusts hereunder, including the reasonable and documented costs and expenses (including reasonable and documented fees and expenses of its agents and counsel) of defending itself against any claim or liability in
connection with the exercise or performance of any of its powers or duties hereunder (whether asserted by any Holder, the Company or other Person). The Trustee shall notify the Company promptly of any third-party claim for which it may seek
indemnity of which it has received written notice. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations hereunder unless, and solely to the extent that, such failure prejudices the Company’s defense
of such claim. The Company shall defend the claim, with counsel satisfactory to the Trustee, and the Trustee shall provide reasonable cooperation at the Company’s expense in the defense; provided that if the defendants in any such claim include
both the Company and the Trustee and the Trustee shall have concluded that there may be legal defenses available to it which are different from or additional to those available to the Company, or the Trustee has concluded that there may be any other
actual or potential conflicting interests between the Company and the Trustee, the Trustee shall have the right to select separate counsel and the Company shall be required to pay the reasonable and documented fees and expenses of such separate
counsel. Any settlement which affects the Trustee may not be entered into without the written consent of the Trustee, unless the Trustee is given a full and unconditional release from liability with respect to the claims covered thereby and such
settlement does not include a statement or admission of fault, culpability or failure to act by or on behalf of the Trustee. Any settlement by the Trustee which affects the Company may not be entered into without the written consent of the Company.

 As security for the performance of the obligations of the Company under this Section, the Trustee shall have a claim 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, if any) or interest, if any, on particular Securities. 

When the Trustee incurs expenses or renders services after an Event of Default specified in Section 501 occurs, the expenses and
compensation for such services are intended to constitute expenses of administration under Title 11, U.S. Code, or any similar Federal, State or analogous foreign law for the relief of debtors. 

The provisions of this Section 606 shall survive the resignation or removal of the Trustee and the satisfaction, termination or discharge
of this Indenture. 

  
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 SECTION 607. Corporate Trustee Required; Eligibility. 

There shall at all times be a Trustee hereunder that shall be eligible to act as Trustee under TIA Section 310(a)(1) and shall have a
combined capital and surplus of at least $50,000,000. If such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of Federal, State, Territorial or the District of Columbia supervising or examining
authority, then for the purposes of this Section, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the
Trustee shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 

SECTION 608. Disqualification; Conflicting Interests. 

If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate
such interest or resign, to the extent and in the manner provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. 

SECTION 609. 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 610. All outstanding fees, expenses and indemnities of the Trustee shall be satisfied by the Company upon resignation or removal.

 (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. 
 (c) The Trustee may be removed at any time with respect to the Securities of any series by (i) the Company, by an
Officers’ Certificate delivered to the Trustee, provided that contemporaneously therewith (x) the Company immediately appoints a successor Trustee with respect to the Securities of such series meeting the requirements of
Section 607 hereof and (y) the terms of Section 610 hereof are complied with in respect of such appointment (the Trustee being removed hereby agreeing to execute the instrument contemplated by Section 610(b) hereof, if
applicable, under such circumstances) and provided further that no Default with respect to such Securities shall have occurred and then be continuing at such time, or (ii) 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. 
 (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 

  
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 (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, 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 an instrument of acceptance by a successor Trustee shall not have been delivered to the Trustee within 30 days
after the giving of a notice of resignation or the delivery of an Act of removal, the Trustee resigning or being removed may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

(f) 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. 
 (g) 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 610. 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 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 wherein each successor Trustee shall
accept such appointment and that (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. Whenever there is a successor Trustee with respect to one or more (but less than all) series of securities issued pursuant to this Indenture, the terms “Indenture” and
“Securities” shall have the meanings specified in the provisos to the respective definition of those terms in Section 101 which contemplate such situation. 

(c) Upon request of any such successor Trustee, the Company shall execute any and all instruments necessary to more fully and certainly vesting
in and confirming to such successor Trustee all such rights, powers and trusts referred to in paragraph (a) or (b) of this Section, as the case may be. 

(d) No successor Trustee shall accept its appointment unless at the time of such acceptance such successor Trustee shall be qualified and
eligible under this Article. 
 SECTION 611. 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,

  
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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 shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the
Securities so authenticated with the same effect as if such successor Trustee had itself authenticated such Securities. In case any Securities shall not have been authenticated by such predecessor Trustee, any such successor Trustee may authenticate
and deliver such Securities, 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; provided, however, that the right to adopt the
certificate of authentication of any predecessor Trustee or to authenticate Securities in the name of any predecessor Trustee shall apply only to its successor or successors by merger, conversion or consolidation. 

SECTION 612. Appointment of Authenticating Agent. 

At any time when any of the Securities remain Outstanding, the Trustee may appoint an Authenticating Agent or Agents (which may be an Affiliate
or Affiliates of the Company) with respect to one or more series of Securities that shall be authorized to act on behalf of the Trustee to authenticate Securities of such series issued upon original issue or upon exchange, registration of transfer
or partial redemption thereof, and Securities so authenticated shall be entitled to the benefits of this Indenture and shall be valid and obligatory for all purposes as if authenticated by the Trustee hereunder. 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, except as may otherwise be provided pursuant to Section 301, 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, eligible to serve as trustee hereunder pursuant
to Section 607. 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. 

  
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 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 promptly give written 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. 

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. 
 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. 

 

			
		 	U.S. Bank National Association, as Trustee
		
	By:	 	 
		 	as Authenticating Agent
		
	By:	 	 
		 	Authorized Officer

 If all of the Securities of a series may not be originally issued at one time, and the Trustee does not
have an office capable of authenticating Securities upon original issuance located in a Place of Payment where the Company wishes to have Securities of such series authenticated upon original issuance, the Trustee, if so requested by the Company in
writing (which writing need not comply with Section 102 and need not be accompanied by an Opinion of Counsel), shall appoint in accordance with this Section an Authenticating Agent (which, if so requested by the Company, shall be an Affiliate
of the Company) having an office in a Place of Payment designated by the Company with respect to such series of Securities, provided that the terms and conditions of such appointment are acceptable to the Trustee. 

  
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 ARTICLE SEVEN 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 

SECTION 701. Company to Furnish Trustee Names and Addresses of Holders. 

The Company will furnish or cause to be furnished to the Trustee: 

(a) Semi-annually, not later than March 15 and September 15 in each year, a list, in such form as the Trustee may reasonably require,
of the names and addresses of the Holders of Securities of each series as of the preceding March 1 or September 1, as the case may be; and 

(b) At such other times as the Trustee may request in writing, within thirty (30) calendar days after receipt by the Company of any such
request, a list of similar form and content as of a date not more than fifteen (15) calendar days prior to the time such list is furnished; 

Excluding from any such list names and addresses received by the Trustee in its capacity as Security Registrar. 

SECTION 702. Preservation of Information; Communications to Holders. 

(a) The Trustee shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders contained in the most
recent list furnished to the Trustee as provided in Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in
Section 701 upon receipt of a new list so furnished. 
 (b) The rights of Holders to communicate with other Holders with respect to
their rights under this Indenture or under the Securities, and the corresponding rights and duties of the Trustee, shall be as provided by the Trust Indenture Act. 

(c) Every Holder of Securities, by receiving and holding the same, agrees with the Company and the Trustee that neither the Company nor the
Trustee nor any Authenticating Agent nor any Paying Agent nor any Security Registrar nor any agent of any of them 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).

 SECTION 703. Reports by Trustee. 

Within 60 days after May 15 of each year commencing with the first May 15 after the first issuance of Securities pursuant to this
Indenture, the Trustee shall transmit by mail (at the expense of the Company) to all Holders of Securities in the manner and to the extent provided in TIA Section 313(c) a brief report dated as of such May 15 which meets the requirements
of TIA Section 313(a). 

  
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 A copy of each such report shall, at the time of such transmission to such Holders, be filed by
the Trustee with each stock exchange, if any, upon which the Securities are listed, with the Commission and with the Company. The Company will promptly notify the Trustee of the listing of the Securities on any stock exchange. In the event that, on
any such reporting date, no events have occurred under the applicable sections of the TIA within the 12 months preceding such reporting date, the Trustee shall be under no duty or obligation to provide such reports. 

SECTION 704. Reports by Company. 
 The
Company will: 
 (1) deliver to the Trustee, within 30 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 listed and registered on a national securities exchange as may be prescribed from time to time in such rules and regulations; and 

(2) deliver to 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. 

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
conclusively rely exclusively on Officers’ Certificates). Notwithstanding anything to the contrary set forth herein, for the purposes of this Section, any information, documents or reports filed electronically with the Commission and made
publicly available shall be deemed filed with and delivered to the Trustee at the same time as filed with the Commission. 
 The Trustee
shall transmit by mail to the Holders of Securities (at the expense of the Company), 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 subparagraphs (1) and (2) of this Section as may be required by rules and regulations prescribed from time to time by the Commission. In no event shall the Trustee be
obligated to determine whether or not any report, information or document shall have been filed with the Commission. 

  
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 SECTION 705. Calculation of Original Issue Discount. 

The Company shall file with the Trustee promptly at the end of each calendar year a written notice specifying the amount of original issue
discount (including daily rates and accrual periods), if any, accrued on Outstanding Securities as of the end of such year. 
 ARTICLE
EIGHT 
 CONSOLIDATION, MERGER, CONVEYANCE OR TRANSFER 

SECTION 801. Company May Consolidate, Etc., Only on Certain Terms. 

Unless otherwise provided in the terms of such Securities, the Company shall not consolidate with or merge with or into any other entity or
convey or transfer all or substantially all of its properties and assets to any Person, unless: 
 (1) either the Company shall be the
continuing entity, or the entity (if other than the Company) formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer the properties and assets of the Company substantially as an
entirety shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, the due and punctual payment of the principal of (and premium, if any) and interest, if any,
on all the Securities and the performance of every covenant of this Indenture on the part of the Company to be performed or observed; 
 (2)
immediately after giving effect to such transaction, no Default or Event of Default shall have happened and be continuing; and 
 (3) the
Company and the successor Person have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel each stating that such consolidation, merger, conveyance or transfer and such supplemental indenture comply with this Article and
that all conditions precedent herein provided for relating to such transaction have been complied with. 
 SECTION 802. Successor Person Substituted.

 Upon any consolidation or merger, or any conveyance or transfer of the properties and assets of the Company substantially as an
entirety in accordance with Section 801, the successor entity formed by such consolidation or into which the Company is merged or the successor Person to which such conveyance or transfer is made shall succeed to, and be substituted for, and
may exercise every right and power of, the Company under this Indenture with the same effect as if such successor had been named as the Company herein; and in the event of any such conveyance or transfer, the Company shall be discharged from all
obligations and covenants under this Indenture and the Securities and may be dissolved and liquidated. 

  
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 ARTICLE NINE 

SUPPLEMENTAL INDENTURES 
 SECTION 901.
Supplemental Indentures Without Consent of Holders. 
 Without the consent of any Holders of Securities, 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 reasonably 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 herein
and in the Securities contained; 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 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 that is entitled to the benefit of such provision; or 

(5) to secure the Securities; or 

(6) to establish the form or terms of Securities of any series as permitted by Sections 201 and 301, including the provisions and procedures
relating to Securities convertible into or exchangeable for any securities of any Person (including the Company); or 
 (7) 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 
 (8) to cure any ambiguity, to correct or supplement any provision
herein which may be inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture; provided that such action shall not adversely affect the interests of the
Holders of Securities of any series in any material respect; or 

  
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 (9) to add guarantors or co-obligors with respect to any series of Securities or to release
guarantors from their guarantees of Securities in accordance with the terms of the applicable series of Securities; 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 or any other series of Securities in any material respect. 
 SECTION 902.
Supplemental Indentures with Consent of Holders. 
 With the consent of the Holders of not less than a majority in aggregate 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 that affects such series of Securities or of modifying in any manner the rights
of the Holders of such series of Securities 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, if any) or any installment of principal of or interest on, any Security,
subject to the provisions of Section 308; or the terms of any sinking fund with respect to any Security; or reduce the principal amount thereof or the rate of interest (or change the manner of calculating the rate of interest, thereon, or any
premium payable upon the redemption thereof, or change any obligation of the Company to pay Additional Amounts pursuant to Section 1004 (except as contemplated by Section 801(1) and permitted by Section 901(1)), or reduce the portion
of the principal of an Original Issue Discount Security or Indexed Security that would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or upon the redemption thereof 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 in which, any Security or any premium or 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 adversely affect any right to convert or exchange any Security as may be provided pursuant to Section 301 herein, or modify the subordination provisions set forth in Article Sixteen in a manner that is
adverse to the Holder of any Outstanding Security, 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 (of 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 

  
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 (3) modify any of the provisions of this Section, Section 513 or Section 1006, except
to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Security affected thereby; provided, however, that this
clause shall not be deemed to require the consent of any Holder of a Security with respect to changes in the references to “the Trustee” and concomitant changes in this Section, or the deletion of this proviso, in accordance with the
requirements of Sections 610(b) and 901(8). 
 It shall not be necessary for any Act of Holders under this Section to approve the particular
form of any proposed supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. 
 A supplemental
indenture that changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of Securities, or that 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. 

The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Persons entitled to consent to any
indenture supplemental hereto. If a record date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to consent to such supplemental indenture, whether or not such Holders remain
Holders after such record date; provided, that unless such consent shall have become effective by virtue of the requisite percentage having been obtained prior to the date that is eleven months after such record date, any such consent previously
given shall automatically and without further action by any Holder be cancelled and of no further effect. 
 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 shall be fully protected in relying upon, in addition to the documents required by Section 102 of this Indenture, an Opinion of Counsel
stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall not be obligated to, enter into any such supplemental indenture that affects the Trustee’s own rights, duties or
immunities under this Indenture or otherwise. 
 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 shall be bound thereby. 

  
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 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, 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, if any, on) and interest, if any, on the Securities of that series in accordance with the terms of such series of Securities and this Indenture. Unless otherwise specified with respect to Securities of any series pursuant to
Section 301, at the option of the Company, 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. 

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, where Securities of that series may be surrendered for registration of transfer or exchange, where Securities of that series that are convertible or exchangeable may be surrendered for conversion or exchange, as
applicable, 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 in respect of any series of Securities 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, and the Company hereby appoints the Trustee at its Corporate Trust Office as its agent to receive such respective presentations, surrenders, notices
and demands. 
 The Company may also from time to time designate one or more other offices or agencies where 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 

  
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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 the office or agency of the Company in the Borough of Manhattan, The City of New York, and initially appoints the Trustee at its Corporate Trust Office in the Borough of Manhattan, The
City of New York as its agent to receive all such presentations, surrenders, notices and demands. 
 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 currency other than Dollars or (ii) may be payable in a currency other than Dollars, 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. 

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, it will, on or before each due date
of the principal of (or premium, if any) or interest, if any, 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 in which the Securities of such series are
payable (except as otherwise specified pursuant to Section 301 for the Securities of such series and except, if applicable, as provided in Sections 312(b), 312(d) and 312(e)), sufficient to pay the principal (and premium, if any) and interest,
if any, on Securities of such series 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, it will, on or before each due date of the principal
of (or premium, if any) or interest, if any, on any Securities of that series, deposit with a Paying Agent a sum (in the Currency or Currencies described in the preceding paragraph) sufficient to pay the principal (or premium, if any) or interest,
if any, so becoming due, such sum of money to be held in trust for the benefit of the Persons entitled to such principal, premium or interest and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or
failure so to act. 
 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 of money 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, any money deposited with the Trustee or any Paying Agent, or then held by the
Company, in trust for the payment of the principal of (or premium, if any) or interest, if any, on any Security of any series and remaining 

  
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unclaimed for two years after such principal, premium 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 thereof, and all liability of the Trustee or such Paying Agent with respect to such money held in
trust, 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. Additional Amounts. 

If the Securities of a series provide for the payment of Additional Amounts, the Company will pay to the Holder of any Security of such series
such Additional Amounts as may be specified as contemplated by Section 301. Whenever in this Indenture there is mentioned, in any context, the payment of the principal of (or premium, if any) or interest, if any, on any Security of any series
or the net proceeds received on the sale or exchange of any Security of any series, such mention shall be deemed to include mention of the payment of Additional Amounts provided for by the terms of such series established pursuant to
Section 301 to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to such terms and express mention of the payment of Additional Amounts (if applicable) in any provisions hereof shall
not be construed as excluding Additional Amounts in those provisions hereof where such express mention is not made. 
 Except as otherwise
specified as contemplated by Section 301, if the Securities of a series provide for the payment of Additional Amounts, at least 10 days prior to the first Interest Payment Date with respect to that series of Securities (or if the Securities of
that series will not bear interest prior to Maturity, the first day on which a payment of principal premium is made), and at least 10 days prior to each date of payment of principal, premium or interest if there has been any change with respect to
the matters set forth in the below-mentioned Officers’ Certificate, the Company will furnish the Trustee and the Company’s principal Paying Agent or Paying Agents, if other than the Trustee, with an Officers’ Certificate instructing
the Trustee and such Paying Agent or Paying Agents whether such payment of principal, premium or interest on the Securities of that series shall be made to Holders of Securities of that series who are not United States persons without withholding
for or on account of any tax, assessment or other governmental charge described in the Securities of that series. If any such withholding shall be required, then such Officers’ Certificate shall specify by country the amount, if any, required
to be withheld on such payments to such Holders of Securities of that series and the Company will pay to the Trustee or such Paying Agent the Additional Amounts required by the terms of such Securities. In the event that the Trustee or any Paying
Agent, as the case may be, shall not so receive the above-mentioned certificate, then the Trustee or such Paying Agent shall be entitled (i) to assume that no such withholding or deduction is required with respect to any payment of principal or
interest with respect to any Securities of a series until it shall have received a certificate advising otherwise and (ii) to make all payments of principal and interest with respect to the Securities of a series without withholding or
deductions until otherwise advised. The 

  
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Company covenants to indemnify the Trustee and any Paying Agent for, and to hold them harmless against, any loss, liability or expense reasonably incurred without gross negligence or willful
misconduct on their part arising out of or in connection with actions taken or omitted by any of them in reliance on any Officers’ Certificate furnished pursuant to this Section or in reliance on the Company’s not furnishing such an
Officers’ Certificate. 
 SECTION 1005. Statement as to Compliance. 

(1) The Company will deliver to the Trustee, within 120 days after the end of each fiscal year ending after the date hereof (which fiscal year
ends on December 31), so long as any Security is Outstanding hereunder, a brief certificate from the principal executive officer, principal financial officer or principal accounting officer of the Company as to his or her knowledge of the
Company’s compliance with all conditions and covenants under this Indenture. For purposes of this Section 1005, such compliance shall be determined without regard to any period of grace or requirement of notice under this Indenture. 

(2) The Company will, so long as any series of Securities are Outstanding, deliver to the Trustee, within 5 Business Days of any officer listed
in (1) above becoming aware of any Default, Event of Default or default in the performance of any covenant, agreement or condition contained in this Indenture, an Officers’ Certificate specifying such Default, Event of Default, default or
event of default and what action the Company is taking or proposes to take with respect thereto and the status thereof. 
 SECTION 1006. Waiver of
Certain Covenants. 
 As specified pursuant to Section 301(15), for Securities of any series, the Company may omit in any particular
instance to comply with any covenant or condition set forth in any covenants of the Company added to Article Ten pursuant to Section 301(14) or Section 301 (15) in connection with the Securities of a series, if before or after the
time for such compliance the Holders of at least a majority in aggregate 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 covenant or condition shall remain in full force and effect. 
 ARTICLE ELEVEN 

REDEMPTION OF SECURITIES 
 SECTION
1101. Applicability of Article. 
 Securities of any series that 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. 

  
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 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 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), an Officers’
Certificate notifying the Trustee in writing of such Redemption Date and of the principal amount of Securities of such series to be redeemed, and, if applicable, of the tenor of the Securities to be redeemed, and shall deliver to the Trustee such
documentation and records as shall enable the Trustee to select the Securities to be redeemed pursuant to Section 1103. In the case of any redemption of Securities of any series 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. 

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 in compliance with the requirements of DTC, from the Outstanding Securities of such series issued on such date with the same terms not previously called for
redemption, in compliance with the requirements of the principal national securities exchange on which the Securities are listed (if the Securities are listed on any national securities exchange), or if the Securities are not held through DTC or
listed on any national securities exchange, or DTC prescribed no method of selection, on a pro rata basis, or by such method as the Trustee shall deem fair and appropriate and subject to and otherwise in accordance with the procedures of the
applicable Depository; provided that such method complies with the rules of any national securities exchange or quotation system on which the Securities are listed, and 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;
provided, however, that no such partial redemption shall reduce the portion of the principal amount of a Security not redeemed to less than the minimum authorized denomination for Securities of such 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. 

  
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 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 and accrued interest, if any, to the Redemption Date payable as provided in Section 1106, 
 (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 that 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, 

(5) that on the Redemption Date, the Redemption Price and accrued interest, if any, to the Redemption Date payable as provided in
Section 1106 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, are to be surrendered for payment of the Redemption Price and accrued interest, if
any, 
 (7) that the redemption is for a sinking fund, if such is the case, and 

(8) the CUSIP number of such Security, if any. 

A notice of redemption published as contemplated by Section 106 need not identify particular Registered Securities to be redeemed. Notice
of redemption of Securities to be redeemed 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. 

  
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 SECTION 1105. Deposit of Redemption Price. 

On or prior to 12:00 p.m., New York City time, on 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 in which the
Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series and except, if applicable, as provided in Sections 312(b), 312(d) and 312(e)) sufficient to pay on the Redemption
Date the Redemption Price of, and (unless otherwise specified pursuant to Section 301) accrued interest on, all the Securities or portions thereof which are to be redeemed on that date; provided, however, that to the extent any such funds are
received by the Trustee or a Paying Agent from the Company after 12:00 p.m., New York City time, on the due date, such funds will be deemed deposited within one Business Day of receipt thereof. 

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 in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series and except, if applicable, as provided in
Sections 312(b), 312(d) and 312(e)) (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, if any) such Securities
shall if the same were interest-bearing cease to bear interest. Upon surrender of any such Security for redemption in accordance with said notice, 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 unless otherwise specified as contemplated by Section 301, 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 Security called for redemption shall not be so paid upon surrender thereof for redemption, the Redemption Price shall, until paid, bear
interest from the Redemption Date at the rate of interest set forth in such Security or, in the case of an Original Issue Discount Security, at the Yield to Maturity of such Security. 

SECTION 1107. Securities Redeemed in Part. 

Any Registered Security that 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 such
Holder’s attorney duly authorized in writing) and the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security at the expense of the Company and without service charge a new Security or Securities of
the same series and of like tenor, of any 

  
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authorized denomination as requested by such Holder in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. If a
temporary global Security or permanent global Security is so surrendered, such new Security so issued shall be a new temporary global Security or permanent global Security, respectively. However, if less than all the Securities of any series with
differing issue dates, interest rates and stated maturities are to be redeemed, the Company in its sole discretion shall select the particular Securities to be redeemed and shall notify the Trustee in writing thereof at least 45 days prior to the
relevant redemption date. 
 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, at its option, 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) 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; 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, 

  
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the portion thereof, if any, which is to be satisfied by payment of cash in the Currency in which the Securities of such series are payable (except as otherwise specified pursuant to
Section 301 for the Securities of such series and except, if applicable, as provided in Sections 312(b), 312(d) and 312(e)) 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 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 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 the Repayment Price 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 before 12:00 p.m.,
New York City time, on 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
in which the Securities of such series are payable (except as otherwise specified pursuant to Section 301 for the Securities of such series and except, if applicable, as provided in Sections 312(b), 312(d) and 312(e)) sufficient to pay the
Repayment Price of, and (unless otherwise specified pursuant to Section 301) accrued interest on, all the Securities or portions thereof, as the case may be, to be repaid on such date; provided, however, that to the extent any such funds are
received by the Trustee or a Paying Agent from the Company after 12:00 p.m., New York City time, on the due date, such funds will be distributed to the Holders within one Business Day of receipt thereof. 

  
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 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. To be repaid at the option of the Holder, any Security so providing for such repayment, with the “Option to Elect Repayment” form on the reverse of such Security duly completed by the Holder (or by the
Holder’s attorney duly authorized in writing), must be received by the Company 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 45 days nor later than 30 days prior to the Repayment Date. If less than the entire Repayment Price of such Security is to be repaid in accordance with the terms of such Security, the portion of the
Repayment Price 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 such Security
surrendered that is not to be repaid, must be specified. 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. Upon surrender of
any such Security for repayment in accordance with such provisions, the Repayment Price 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 installments of interest on Registered Securities, whose Stated Maturity is prior to (or, if specified pursuant to Section 301, on) 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 Security surrendered for repayment shall not be so repaid upon surrender thereof, the Repayment Price shall, until paid, bear interest
from the Repayment Date at the rate of interest set forth in such Security or, in the case of an Original Issue Discount Security, at the Yield to Maturity of such Security. 

  
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 SECTION 1305. Securities Repaid in Part. 

Upon surrender of any Registered Security that 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, and of like tenor, 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 that is not to be repaid. If a temporary global Security or permanent global Security is so surrendered, such new Security so issued shall be
a new temporary global Security or a new permanent global Security, respectively. 
 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 the Company may at its option by Board Resolution, at any time, with respect to such Securities,
elect to have either Section 1402 (if applicable) or Section 1403 (if applicable) be applied to such Outstanding Securities 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 on and after 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, 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) of this Section, and to have satisfied all its other obligations under such Securities and this Indenture insofar as such Securities are
concerned (and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following which shall survive until otherwise terminated or discharged hereunder: (A) the rights of Holders of
such Outstanding Securities to receive, solely from the trust fund described in Section 1404 and as more fully set forth in such Section, payments in respect of the principal of (and premium, if any, on) and interest, if any, on such Securities
when such payments are due, (B) the Company’s obligations with respect to such Securities under Sections 305, 306, 1002 and 1003 and with respect to the payment of Additional Amounts, if any, on such Securities as contemplated by
Section 1004, (C) the rights, powers, trusts, duties 

  
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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. Following a defeasance, payment of such Securities may not be accelerated because of an Event of Default. 

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, if specified pursuant to Section 301, the Company shall be released from its obligations under any covenant, with
respect to such Outstanding Securities on and after the date the conditions set forth in Section 1404 are satisfied (hereinafter, “covenant defeasance”), and such Securities 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 such 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, 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
shall be unaffected thereby. Following a covenant defeasance, payment of such Securities may not be accelerated because of an Event of Default solely by reference to such Sections specified above in this Section 1403. 

SECTION 1404. Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to application of either Section 1402 or Section 1403 to any Outstanding Securities of or
within a series: 
 (a) The Company shall have irrevocably deposited or caused to be irrevocably 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 the benefit of, and dedicated solely to, the Holders of such Securities, (1) an amount (in such Currency in which such Securities are then specified as payable at Stated Maturity), or (2) Government Obligations applicable to
such Securities (determined on the basis of the Currency in which such Securities 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 one day before the due date of any payment of principal of (and premium, if any, on) and interest, if any, on such Securities, money in an amount, or (3) a combination thereof in an amount, sufficient, in the opinion of
a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or other qualifying trustee) to pay and discharge,
(i) the principal of (and premium, if any, on) and interest, if any, on such Outstanding Securities 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 on the day on which such payments are due and payable in accordance with the terms of this Indenture and of such Securities. 

  
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 (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 Default or Event of Default with respect to such Securities shall have occurred and be continuing on the date of such deposit or,
insofar as Sections 501(5) and 501(6) 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 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 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 either the defeasance under Section 1402 or the covenant defeasance under Section 1403 (as the case may be) have been complied
with. 
 (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. 

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

  
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of any Outstanding Securities of any series shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either
directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal (and premium, if any) and
interest, if any, 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 312(b) or the terms of such Security to receive payment in a Currency 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 as contemplated
in Section 312(d) or 312(e) or by the terms of any Security in respect of which the deposit pursuant to Section 1404(a) has been made, the indebtedness represented by such Security shall be deemed to have been, and will be, fully
discharged and satisfied through the payment of the principal of (and premium, if any, on) 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 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 in effect on the second Business Day prior to each payment date, except, with respect to a Conversion Event, such conversion shall be based on the applicable Market Exchange Rate for such Currency 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 money or 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. 
 Anything in this Article to the contrary notwithstanding, 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 any series of Securities 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. 

  
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 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 in the Borough of Manhattan, The City of New York 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. 
 (b) In case at any time
the Company, pursuant to a Board Resolution, or the Holders of at least 10% 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 or mailing of the notice of such meeting within
21 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 in the Borough of Manhattan, The City of New York 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, waiver, request, demand, notice, authorization, direction or other action that this Indenture
expressly provides may be made, given or taken 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 of 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 any such adjourned meeting, such
adjourned meeting may be further adjourned for a period of not less than 10 days as determined by the chairman of the meeting prior to the adjournment of such adjourned meeting. Notice of the reconvening of

  
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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. Notice of the reconvening of any adjourned meeting shall state expressly the percentage, as provided above, of the principal amount of the Outstanding Securities of such series which shall constitute a quorum. 

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 Holders of a majority in principal amount of the Outstanding Securities of that series; provided, however, that, except as limited by the proviso to
Section 902, any resolution with respect to any consent, waiver, request, demand, notice, authorization, direction 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, 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 consent, waiver, request, demand, notice, authorization, direction 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 consent, waiver, request, demand, notice, authorization, direction 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. 
 SECTION 1505. Determination of Voting Rights; Conduct and Adjournment of Meetings.

 (a) Notwithstanding any other provisions of this Indenture, the Trustee may make such reasonable regulations as it may deem advisable
for any meeting of Holders of 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. 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. 

  
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 (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 of Holders, 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 such Holder; 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 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. 

  
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 ARTICLE SIXTEEN 

SUBORDINATION OF SECURITIES 
 SECTION
1601. Agreement to Subordinate. 
 The Company, for itself, its successors and assigns, covenants and agrees, and each Holder of
Subordinated Securities by his acceptance thereof, likewise covenants and agrees, that the payment of the principal of (and premium, if any) and interest, if any, on each and all of the Subordinated Securities is hereby expressly subordinated, to
the extent and in the manner hereinafter set forth, in right of payment to the prior payment in full of all Senior Indebtedness. 
 SECTION 1602.
Distribution on Dissolution, Liquidation and Reorganization; Subrogation of Subordinated Securities. 
 Upon any distribution of assets
of the Company upon any dissolution, winding up, liquidation or reorganization of the Company, whether in bankruptcy, insolvency, reorganization or receivership proceedings or upon an assignment for the benefit of creditors or any other marshalling
of the assets and liabilities of the Company or otherwise (subject to the power of a court of competent jurisdiction to make other equitable provision reflecting the rights conferred in this Indenture upon the 

Senior Indebtedness and the holders thereof with respect to the Securities and the holders thereof by a lawful plan of reorganization under
applicable bankruptcy law): 
 (a) the holders of all Senior Indebtedness shall be entitled to receive payment in full of the principal
thereof (and premium, if any) and interest due thereon (including post-petition interest) before the Holders of the Subordinated Securities are entitled to receive any payment upon the principal (or premium, if any) or interest, if any, on
indebtedness evidenced by the Subordinated Securities; and 
 (b) any payment or distribution of assets of the Company of any kind or
character, whether in cash, property or securities, to which the Holders of the Securities or the Trustee would be entitled except for the provisions of this Article Sixteen shall be paid by the liquidating trustee or agent or other person making
such payment or distribution, whether a trustee in bankruptcy, a receiver or liquidating trustee or otherwise, directly to the holders of Senior Indebtedness or their representative or representatives or to the trustee or trustees under any
indenture under which any instruments evidencing any of such Senior Indebtedness may have been issued, ratably according to the aggregate amounts remaining unpaid on account of the principal of (and premium, if any) and interest on the Senior
Indebtedness held or represented by each, to the extent necessary to make payment in full of all Senior Indebtedness remaining unpaid, after giving effect to any concurrent payment or distribution to the holders of such Senior Indebtedness; and 

  
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 (c) in the event that, notwithstanding the foregoing, any payment or distribution of assets of
the Company of any kind or character, whether in cash, property or securities, shall be received by the Trustee or the Holders of the Subordinated Securities before all Senior Indebtedness is paid in full, such payment or distribution shall be paid
over, upon written notice to the Trustee, to the holder of such Senior Indebtedness or their representative or representatives or to the trustee or trustees under any indenture under which any instrument evidencing any of such Senior Indebtedness
may have been issued, ratably as aforesaid, for application to payment of all Senior Indebtedness remaining unpaid until all such Senior Indebtedness shall have been paid in full, after giving effect to any concurrent payment or distribution to the
holders of such Senior Indebtedness. 
 Subject to the payment in full of all Senior Indebtedness, the Holders of the Subordinated
Securities shall be subrogated to the rights of the holders of Senior Indebtedness to receive payments or distributions of cash, property or securities of the Company applicable to Senior Indebtedness until the principal of (and premium, if any, on)
and interest, if any, on the Subordinated Securities shall be paid in full and no such payments or distributions to the Holders of the Subordinated Securities of cash, property or securities otherwise distributable to the holders of Senior
Indebtedness shall, as between the Company, its creditors other than the holders of Senior Indebtedness, and the Holders of the Subordinated Securities be deemed to be a payment by the Company to or on account of the Subordinated Securities. It is
understood that the provisions of this Article Sixteen are and are intended solely for the purpose of defining the relative rights of the Holders of the Subordinated Securities, on the one hand, and the holders of the Senior Indebtedness, on the
other hand. Nothing contained in this Article Sixteen or elsewhere in this Indenture or in the Subordinated Securities is intended to or shall impair, as between the Company, its creditors other than the holders of Senior Indebtedness, and the
Holders of the Subordinated Securities, the obligation of the Company, which is unconditional and absolute, to pay to the Holders of the Subordinated Securities the principal of (and premium, if any) and interest, if any, on the Subordinated
Securities as and when the same shall become due and payable in accordance with their terms, or to affect the relative rights of the Holders of the Subordinated Securities and creditors of the Company other than the holders of Senior Indebtedness,
nor shall anything herein or in the Subordinated Securities prevent the Trustee or the Holder of any Subordinated Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights,
if any, under this Article Sixteen of the holders of Senior Indebtedness in respect of cash, property or securities of the Company received upon the exercise of any such remedy. Upon any payment or distribution of assets of the Company referred to
in this Article Sixteen, the Trustee, subject to the provisions of Section 601, shall be entitled to rely upon a certificate of the liquidating trustee or agent or other person making any distribution to the Trustee for the purpose of
ascertaining the Persons entitled to participate in such distribution, the holders of Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other
facts pertinent thereto or to this Article Sixteen. 
 If the Trustee or any Holder of Subordinated Securities does not file a proper claim
or proof of debt in the form required in any proceeding referred to above prior to 30 days before the expiration of the time to file such claim in such proceeding, then the holder of any Senior Indebtedness is hereby authorized, and has the right,
to file an appropriate claim or claims for or on behalf of such Holder of Subordinated Securities. 

  
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 With respect to the holders of Senior Indebtedness, the Trustee undertakes to perform or to
observe only such of its covenants or obligations as are specifically set forth in this Article and no implied covenants or obligations with respect to holders of Senior Indebtedness shall be read into this Indenture against the Trustee. The Trustee
does not owe any fiduciary duties to the holders of Senior Indebtedness other than Securities issued under this Indenture. 
 SECTION 1603. No Payment on
Subordinated Securities in Event of Default on Senior Indebtedness. 
 No payment by the Company on account of principal (or premium, if
any), sinking funds or interest, if any, on the Subordinated Securities shall be made unless full payment of amounts then due for principal (premium, if any), sinking funds and interest on Senior Indebtedness has been made or duly provided for in
money or money’s worth. 
 SECTION 1604. Payments on Subordinated Securities Permitted. 

Nothing contained in this Indenture or in any of the Subordinated Securities shall (a) affect the obligation of the Company to make, or
prevent the Company from making, at any time except as provided in Sections 1602 and 1603, payments of principal of (or premium, if any) or interest, if any, on the Subordinated Securities, (b) without limiting clause (c) of this sentence,
prevent the application by the Trustee of any moneys deposited with it hereunder to the payment of or on account of the principal of (or premium, if any) or interest, if any, on the Subordinated Securities, unless the Trustee shall have received at
its Corporate Trust Office written notice of any event prohibiting the making of such payment more than three Business Days prior to the date fixed for such payment or (c) prevent the application by the Trustee of any moneys or the proceeds of
Government Obligations deposited with it pursuant to Section 1404(a) to the payment of or on account of the principal of (or premium, if any, on) or interest, if any, on the Subordinated Securities if all the conditions specified in
Section 1404 to the application of Section 1402 or Section 1403, as applicable, have been satisfied prior to the date the Trustee shall have received at its Corporate Trust Office written notice of any event prohibiting the making of
such payment. 
 SECTION 1605. Authorization of Holders to Trustee to Effect Subordination. 

Each Holder of Subordinated Securities by his acceptance thereof authorizes and directs the Trustee on his behalf to take such action as may be
necessary or appropriate to effectuate the subordination as provided in this Article Sixteen and appoints the Trustee his attorney-in-fact for any and all such purposes. 

SECTION 1606. Notices to Trustee. 

Notwithstanding the provisions of this Article or any other provisions of this Indenture, neither the Trustee nor any Paying Agent (other than
the Company) shall be charged with knowledge of the existence of any Senior Indebtedness or of any event that would prohibit the making of any payment of moneys to or by the Trustee or such Paying Agent, unless and until the Trustee or such Paying
Agent shall have received (in the case of the Trustee, at its Corporate Trust Office) written notice thereof from the Company or from the holder of any Senior Indebtedness or from the trustee for any such holder, together with proof satisfactory to
the Trustee of such holding of Senior Indebtedness or of the authority of such trustee; provided, however, that if at least three Business Days prior to the date upon which by the terms hereof any 

  
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such moneys may become payable for any purpose (including, without limitation, the payment of either the principal (or premium, if any) or interest, if any, on any Subordinated Security) the
Trustee shall not have received with respect to such moneys the notice provided for in this Section 1606, then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive such moneys
and to apply the same to the purpose for which they were received, and shall not be affected by any notice to the contrary, which may be received by it within three Business Days prior to such date. The Trustee shall be entitled to rely on the
delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness (or a trustee on behalf of such holder) to establish that such a notice has been given by a holder of Senior Indebtedness or a trustee on
behalf of any such holder. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of Senior Indebtedness to participate in any payment or distribution pursuant to
this Article Sixteen, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in
such payment or distribution and any other facts pertinent to the rights of such Person under this Article Sixteen and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the
right of such Person to receive such payment. 
 SECTION 1607. Trustee as Holder of Senior Indebtedness. 

The Trustee in its individual capacity shall be entitled to all the rights set forth in this Article Sixteen in respect of any Senior
Indebtedness at any time held by it to the same extent as any other holder of Senior Indebtedness and nothing in this Indenture shall be construed to deprive the Trustee of any of its rights as such holder. 

Nothing in this Article Sixteen shall apply to claims of, or payments to, the Trustee under or pursuant to Section 606. 

SECTION 1608. Modifications of Terms of Senior Indebtedness. 

Any renewal or extension of the time of payment of any Senior Indebtedness or the exercise by the holders of Senior Indebtedness of any of
their rights under any instrument creating or evidencing Senior Indebtedness, including, without limitation, the waiver of default thereunder, may be made or done all without notice to or assent from the Holders of the Subordinated Securities or the
Trustee. 
 No compromise, alteration, amendment, modification, extension, renewal or other change of, or waiver, consent or other action in
respect of, any liability or obligation under or in respect of, or of any of the terms, covenants or conditions of any indenture or other instrument under which any Senior Indebtedness is outstanding or of such Senior Indebtedness, whether or not
any of the foregoing are in accordance with the provisions of any applicable document, shall in any way alter or affect any of the provisions of this Article Sixteen or of the Subordinated Securities relating to the subordination thereof. 

  
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 SECTION 1609. Reliance on Judicial Order or Certificate of Liquidating Agent. 

Upon any payment or distribution of assets of the Company referred to in this Article Sixteen, the Trustee and the Holders of the Securities
shall be entitled to rely upon any order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation, reorganization, dissolution, winding up or similar case or proceeding is pending, or a
certificate of the trustee in bankruptcy, liquidating trustee, custodian, receiver, assignee for the benefit of creditors, agent or other person making such payment or distribution, delivered to the Trustee or to the Holders of Subordinated
Securities, for the purpose of ascertaining the persons entitled to participate in such payment or distribution, the holders of Senior Indebtedness and other indebtedness of the Company, the amount thereof or payable thereon, the amount or amounts
paid or distributed thereon and all other facts pertinent thereto or to this Article Sixteen. 
 * * * * * 

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 exchange of copies of this Indenture and delivery of signature pages by facsimile, .pdf transmission, e-mail or other electronic means shall constitute effective execution
and delivery of this Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile, .pdf transmission, e-mail or other electronic means shall be deemed to be their original signatures for all purposes. 

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

			
	FS INVESTMENT CORPORATION
		
	By:	 	/s/ Gerald F. Stahlecker
		 	Name: Gerald F. Stahlecker
		 	Title:   President
	
	U.S. BANK NATIONAL ASSOCIATION,
		 	as Trustee
		
	By:	 	/s/ Karen R. Beard
		 	Name: Karen R. Beard
		 	Title:   Vice President

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