Document:

Dealer Manager Agreement dated as of October 7, 2004

 Exhibit 4.53 
  
 CanWest (U.S.) Inc. 
 3815668 Canada Inc. 
  
 Dealer Manager Agreement

  
 New York, New York 
 October 7, 2004 
  
 Citigroup Global Markets Inc., 
     as Dealer Manager 
 388 Greenwich Street 
 New York, New York 10013 
  
 Ladies and Gentlemen: 
  
 CanWest
(U.S.) Inc., a Delaware corporation (“CanWest U.S.”), plans to make an offer and consent solicitation (such offer and consent solicitation as described in the Offering Memorandum (as defined below), the “Exchange
Offer”), to exchange 8% Senior Subordinated Notes due 2014 (the “New Notes”) to be issued by 3815668 Canada Inc., a corporation incorporated under the federal laws of Canada (“Holdco” and, together with
CanWest U.S., the “Company”), for any and all of the outstanding 12 1/8 % Senior Notes due 2010 (the “Trust Notes”) issued by Hollinger Participation Trust (the “Trust”), on the terms and subject to
the conditions set forth in the Offering Memorandum. In the Exchange Offer, CanWest U.S. is offering to exchange US$1,200 principal amount of New Notes (the “Total Exchange Price”) for each US$1,000 principal amount of Trust Notes
accepted for exchange. The New Notes will be unsecured senior subordinated obligations initially issued by Holdco (currently the parent of CanWest Media Inc.). On the Exchange Date (as defined below), immediately after the issuance of the New Notes,
Holdco will be amalgamated with the existing CanWest Media Inc. to form a new company (the “Amalgamation”), which will also be named CanWest Media Inc., and will become the obligor under the New Notes as a result of the
Amalgamation. 
  
 Concurrently with making the offers to exchange
described in the preceding paragraph, CanWest U.S. plans to solicit (as described in the Offering Memorandum, as amended or supplemented, the “Consent Solicitation”) from the holders of Trust Notes (i) consents to amend (the
“Proposed Trust Amendments”) the Trust Agreement (as defined below) and (ii) instructions (the “Proposed Instructions”) to The Bank of Nova Scotia Trust Company of New York, as trustee, including instructions to
consent to certain amendments (the “Proposed Indenture Amendments”) to the indenture (the “Old Notes Indenture”) governing the Fixed Rate Subordinated Debentures due 2010 (the “Old Notes”) of
Holdco, as described under the heading “The Proposed Amendments and Instructions” in the Offering Memorandum. The Proposed Trust Amendments, the Proposed Instructions and the Proposed Indenture Amendments are collectively referred to as
the “Proposed Amendments and Instructions.” The consents to the Proposed Amendments and Instructions are collectively referred to as the “Consents.” Subject to the terms and conditions set forth in the Offering
Memorandum, Consents from holders of a 

  

 
majority in aggregate principal amount outstanding of Trust Notes must be received in order to effect the Proposed Trust Amendments, and instructions from
holders of at least 66 2/3% in aggregate principal amount outstanding of Trust Notes must be received in order to effect the Proposed Indenture Amendments. The terms of the Proposed Trust Amendments and the Proposed Indenture Amendments provide
that, assuming that the required consents have been obtained, the Proposed Indenture Amendments and the Proposed Trust Amendments will become effective upon the acceptance of Trust Notes tendered in the Exchange Offer, but that their effect will be
retroactively revoked unless the New Notes are delivered on the Exchange Date. The Total Exchange Price includes an early tender payment (the “Early Tender Payment”) of US$30 principal amount of New Notes for each US$1,000 principal
amount of Trust Notes tendered in the Exchange Offer payable only to those holders of Trust Notes that tender on or prior to 5:00 p.m., New York City time, on October 29, 2004 (as such date and time may be extended, the “Early Tender Payment
Deadline”), on the terms and subject to the conditions set forth in the Offering Documents. Holders of Trust Notes that tender their Trust Notes after the Early Tender Payment Deadline will receive, with respect to each US$1,000 principal
amount of Trust Notes tendered in the Exchange Offer, New Notes in a principal amount equal to the Total Exchange Price less the Early Tender Payment. 
  
 The Trust Notes were issued pursuant to an amended and restated trust agreement dated as of August 24, 2001 (as amended, the “Trust
Agreement”), between Hollinger International Inc. and First Union Trust Company, National Association, as trustee. The New Notes are to be issued under an indenture (the “Indenture”) to be entered into by Holdco, the
guarantors party thereto (the “Guarantors”) and The Bank of New York (the “Note Trustee”) to be dated the date of the closing of the Exchange Offer without registration under the U.S. Securities Act of 1933, as
amended, and the rules and regulations of the U.S. Securities and Exchange Commission (the “Commission”) promulgated thereunder (the “Securities Act”) in reliance upon exemptions from the registration requirements
thereunder. The New Notes will have the benefit of a registration rights agreement (the “Registration Rights Agreement”) among Holdco, the Guarantors and the Dealer Manager (as defined below), pursuant to which Holdco will agree to
register the New Notes with the Commission under the Securities Act, subject to the terms and conditions therein specified. The Guarantors will grant guarantees (the “Guarantees”) with respect to Holdco’s obligations under the
New Notes, and effective upon the Amalgamation, the New Notes will be unconditionally guaranteed on a senior subordinated unsecured basis by substantially all present and future restricted subsidiaries of CanWest Media Inc. 
  
 In connection with the Exchange Offer, the Company has prepared a letter of
inquiry dated October 7, 2004 (the “Letter of Inquiry”) and an offering memorandum and consent solicitation statement dated October 7, 2004 (including any and all exhibits thereto and any information incorporated by reference
therein as of the date on which such document is first distributed to holders of Trust Notes (the “Commencement Date”), the “Offering Memorandum”) and a related letter of transmittal and consent (the “Letter
of Transmittal” and, together with the Offering Memorandum, the “Offering Documents”). The Letter of Inquiry and Offering Documents set forth certain information concerning the Company, the New Notes, the Trust Notes and
the Exchange Offer. The Company hereby confirms that it has authorized the use of the Letter of Inquiry and Offering Documents and any amendments or supplements thereto in connection with the Exchange Offer. Unless stated to the contrary, references
herein to the Offering Documents are to the Offering Documents at the Commencement Date, and are 

  

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not meant to include any information incorporated by reference therein subsequent to the Commencement Date, and any references herein to the terms
“amend,” “amendment” or “supplement” with respect to any of the Offering Documents shall be deemed to refer to and include any information (1) filed under the U.S. Securities Exchange Act of 1934, as amended, and the
rules and regulations of the Commission promulgated thereunder (the “Exchange Act”) subsequent to the execution of this Agreement that is incorporated by reference therein or (2) contained in an amendment or supplement to such
Offering Document, including any press release that refers to the Offering Memorandum, prepared subsequent to the Commencement Date by the Company, and to which the Dealer Manager has provided its prior written consent in accordance with the
provisions of Section 5(b) hereunder. 
  
 1. Appointment as
Dealer Manager. 
  
 (a) The Company agrees
that Citigroup Global Markets Inc. will act as the exclusive dealer manager for the Exchange Offer (in such capacity, the “Dealer Manager”) in accordance with the Dealer Manager’s customary practices, including without
limitation by soliciting tenders pursuant to the Exchange Offer, soliciting Consents pursuant to the Consent Solicitation and assisting in the distribution of the Offering Documents. 
  
 (b) The Dealer Manager agrees that all actions taken by it as Dealer Manager have complied and will comply
in all material respects with all applicable laws, regulations and rules of the U.S. and Canada, including, without limitation, the applicable rules and regulations of the registered national securities exchanges of which the Dealer Manager is a
member and of the National Association of Securities Dealers, Inc. 
  
 (c) The Dealer Manager, in its sole discretion, may continue to own or dispose of, in any manner it may elect, any Trust Notes it may beneficially own at the date hereof or hereafter acquire, in any such case subject
to applicable law. The Dealer Manager has no obligation to the Company, pursuant to this Agreement or otherwise, to tender or refrain from tendering Trust Notes beneficially owned by it in any Exchange Offer (or to deliver Consents in the Consent
Solicitation). The Dealer Manager acknowledges and agrees that if the Exchange Offer is not consummated for any reason, the Company shall have no obligation, pursuant to this Agreement or otherwise, to acquire any Trust Notes from the Dealer Manager
or otherwise to hold the Dealer Manager harmless with respect to any losses it may incur in connection with the resale to any third parties of any Trust Notes. 
  

(d) The Company agrees that it will not file, use or publish any material in connection with the Exchange Offer, use the name Citigroup
Global Markets Inc. or refer to Citigroup Global Markets Inc. or Citigroup Global Markets Inc.’s relationship with the Company, without prior written consent of the Dealer Manager to the form of such use or reference. There shall be no fee for
any such permitted use or reference other than as set forth herein. 
  
 2. Compensation. The Company shall pay to Citigroup Global Markets Inc. in respect of its services as Dealer Manager the fee set forth in Exhibit A hereto (the “Fee”). The Company 

  

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shall also promptly reimburse Citigroup Global Markets Inc., without regard to consummation of the Exchange Offer, for its reasonable out-of-pocket expenses
in preparing for and performing Citigroup Global Markets Inc.’s functions as Dealer Manager, including the reasonable fees, costs and out-of-pocket expenses of its counsel for their representation of Citigroup Global Markets Inc. in connection
therewith. 
  
 3. Representations and Warranties. The
Company represents and warrants to and agrees with the Dealer Manager as set forth below in this Section 3: 
  
 (a) At the Commencement Date and at all times from the final date on which withdrawal rights with respect to tenders of Trust Notes
terminate (the “Withdrawal Rights Termination Date”) up to and including each date on which the New Notes are issued in connection with the Exchange Offer (the “Exchange Date”), the Letter of Inquiry and the
Offering Documents as amended or supplemented at such time (i) complied and will comply in all material respects with all applicable requirements of the laws of those jurisdictions in which solicitations of tenders and consents are or will be made
in the Exchange Offer pursuant to this Agreement and (ii) did not and will not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading. 
  
 (b) None of
the Company, its affiliates, as defined in Rule 501(b) of Regulation D under the Securities Act (“Affiliates”), or any person acting on its or their behalf has (i) directly or indirectly, made offers or sales of any security, or
solicited offers to buy any security, under circumstances that would require the registration of the New Notes under the Securities Act or the filing of a prospectus under all applicable securities laws, regulations, rules, policies and instruments
of the Canadian province in which the Exchange Offer is made (the “Canadian Securities Laws”); or (ii) engaged in any directed selling efforts (within the meaning of Regulation S under the Securities Act) with respect to the New
Notes; and each of the Company, its Affiliates and each person acting on its or their behalf has complied with the offering restrictions requirement of Regulation S under the Securities Act. 
  
 (c) None of the Company, its Affiliates or any person acting
on its or their behalf has engaged, in connection with the offering of the New Notes, (i) in any form of general solicitation or general advertising (as those terms are used in Regulation D under the Securities Act), (ii) in any manner involving a
public offering within the meaning of Section 4(2) of the Securities Act or (iii) in any advertisement of the distribution of the New Notes in printed or electronic media of general and regular circulation, radio or television in any Province of
Canada (the “Canadian Provinces”). 
  
 (d) The New Notes satisfy the eligibility requirements of Rule 144A(d)(3) under the Securities Act. 
  
 (e) CanWest Media Inc. is subject to and in full compliance with the reporting requirements of Section 13 or Section 15(d) of the Exchange
Act. 
  

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 (f) The Company has not paid or agreed to pay to any person any compensation for (i)
soliciting another to purchase any of its securities or (ii) the solicitation of tenders or Consents by holders of Trust Notes pursuant to the Exchange Offer (except as contemplated by this Agreement). 
  
 (g) None of the Company or any of its subsidiaries set forth
in Exhibit B hereto (the “Subsidiaries”) or any of its or their respective directors, officers or controlling persons has taken, directly or indirectly, any action designed, or that might reasonably be expected, to cause or result,
under the Securities Act or otherwise, in stabilization or manipulation of the price of any of its securities. 
  
 (h) In connection with each sale pursuant to Section 4(b)(i)(A), the Company has taken or will take reasonable steps to ensure that the
purchaser is aware that such sale is being made in reliance on Rule 144A. 
  
 (i) Holdco is not and, after giving effect to the offering and issuance of the New Notes and the other transactions contemplated to occur in connection therewith (all as described in the Offering Memorandum), will not
be an “investment company” within the meaning of the Investment Company Act of 1940, as amended, without taking account any exemption arising out of the number of holders of the Company’s securities. 
  
 (j) The Company is not and does not expect to become a
“passive foreign investment company” as defined in Section 1297 of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder. 
  
 (k) Each of the Company and the Subsidiaries has been duly incorporated and is validly existing and all
filings required under applicable corporate law have been made as a corporation or other entity under the laws of its jurisdiction of organization, with the corporate power and authority to own, lease and operate its properties and conduct its
business as now conducted as described in the Offering Memorandum, and is duly qualified to do business as a foreign or extra-provincial entity and all filings required under applicable corporate law have been made in all other jurisdictions where
the ownership or leasing of its properties or the conduct of its business requires such qualification, except where the failure to make such filing or to be so qualified would not, individually or in the aggregate, have any effect that is materially
adverse to the business, condition (financial or other), properties or results of operations of the Company and the Subsidiaries, taken as a whole, whether or not arising from transactions in the ordinary course of business (a “Material
Adverse Effect”). 
  
 (l) All the
outstanding shares of capital stock or other equity interests of CanWest U.S. and each of the Subsidiaries have been duly authorized and validly issued and are fully paid and nonassessable, and, except as otherwise set forth in the Offering
Memorandum, all outstanding shares of capital stock or equity interests of each Subsidiary of the Company are owned by the Company, either directly or through wholly owned subsidiaries, free and clear of any security interest, claim, lien,
encumbrance or adverse interest of any nature, other than in favor of the lenders under senior secured credit facilities effective as of November 7, 2000 by and among CanWest Media Inc., as 

  

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borrower, CanWest Global Communications Corp., as guarantor, Canadian Imperial Bank of Commerce, as co-lead arranger, joint book runner and syndication
agent, The Bank of Nova Scotia, as co-lead arranger, joint book runner and administrative agent, Bank of America Canada, as arranger and documentation agent, and the other lenders party thereto, together with the related documents thereto
(including, without limitation, any guarantee agreements and security documents), in each case as such agreements or documents may be amended (including any amendment and restatement thereof), supplemented or otherwise modified from time to time,
including any agreement extending the maturity of, refinancing, replacing or otherwise restructuring (including increasing the amount of available borrowings thereunder or adding restricted subsidiaries as additional borrowers or guarantors
thereunder) all or any portion of the indebtedness under such agreement and related documents or any successor or replacement agreement or document and whether by the same or any other agent, lender or group of lenders (the “Credit
Facility”). 
  
 (m) The New Notes have
been duly authorized and, when executed and authenticated in accordance with the provisions of the Indenture and delivered to holders of the Trust Notes who tender Trust Notes in accordance with the terms of the Exchange Offer, will be entitled to
the benefits of the Indenture, and will be valid and binding obligations of Holdco, enforceable in accordance with their terms except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’
rights generally from time to time in effect and by equitable principles of general applicability; as of the Exchange Date, the Guarantees will be duly authorized and, when executed and authenticated in accordance with the provisions of the
Indenture and delivered to holders of the Trust Notes who tender Trust Notes in accordance with the terms of the Exchange Offer, will be entitled to the benefits of the Indenture, and will be valid and binding obligations of the Guarantors,
enforceable in accordance with their terms except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general
applicability. 
  
 (n) As of the Exchange Date,
the Indenture will be duly authorized, and assuming due authorization, execution and delivery thereof by the Note Trustee, when executed and delivered by Holdco and each of the Guarantors, will be a valid and binding agreement of Holdco and each of
the Guarantors, enforceable against Holdco and each of the Guarantors in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally from time to
time in effect and by equitable principles of general applicability. 
  
 (o) The Registration Rights Agreement has been duly authorized, and when executed and delivered by Holdco and each of the Guarantors, will be a valid and binding agreement of Holdco and each of the Guarantors,
enforceable against Holdco and each of the Guarantors in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally and by equitable principles
of general applicability; provided that no representation is made with respect to Section 7 thereof. 
  

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 (p) This Agreement has been duly authorized, executed and delivered by the Company.

  
 (q) The statements in the Offering Memorandum
under the heading “Certain Tax Considerations” fairly summarize the matters therein described; the statements under the headings “Description of the New Notes,” “Description of the Trust and the Trust Notes,” “The
Proposed Amendments and Instructions,” and “Comparison of the Trust Notes and the New Notes” fairly summarize the material terms of the Indenture, the New Notes, the Guarantees, the Trust Notes and the Trust Agreement (assuming the
Exchange Offer is consummated in accordance with its terms). 
  
 (r) No consent, approval, authorization, license, qualification, exemption, filing with or order of any court or governmental agency or body or third party is required in connection with the transactions contemplated
in this Agreement, the Indenture, the Registration Rights Agreement, the New Notes, the Guarantees, the supplement to the Trust Agreement, the Consent or the Offering Documents, or in connection with the conduct and consummation of the Exchange
Offer or the solicitation of Consents in the Consent Solicitation, except (i) such as may be required under state securities or “Blue Sky” laws or the laws of any jurisdiction outside the U.S. or Canada in connection with the issuance of
the New Notes in the manner contemplated herein and in the Offering Memorandum and the Registration Rights Agreement, (ii) in the case of the Registration Rights Agreement, such as will be obtained under the Securities Act and the U.S. Trust
Indenture Act of 1939, as amended, and the rules and regulations of the Commission promulgated thereunder (the “Trust Indenture Act”), (iii) such as may be required under the Credit Facility and (iv) such as will be obtained
pursuant to the exemption application filed under the Canada Business Corporations Act seeking relief for the provisions relating to trust indentures. 
  
 (s) The Company has not received from the Commission or any Canadian securities commission any written comments, questions or requests for
modification of disclosure in respect of any reports filed with the Commission or any Canadian securities commission pursuant to the Exchange Act or Canadian Securities Laws and incorporated by reference into the Offering Memorandum, except for
comments, questions or requests (i) that have been satisfied by the provision of supplemental information to the staff of the Commission or any Canadian securities commission, or (ii) in respect of which the Company has agreed with the staff of the
Commission or any Canadian securities commission to make a prospective change in future reports filed by it with the Commission or any Canadian securities commission pursuant to the Exchange Act or Canadian Securities Laws, of which agreement the
Dealer Manager and its counsel have been made aware. 
  
 (t) None of the execution and delivery of the Indenture, the supplement to the Trust Agreement, the Registration Rights Agreement, the New Notes, the Guarantees or this Agreement, the conduct and consummation of the Exchange Offer, the
consummation of any other transactions relating to the Exchange Offer as contemplated herein or in the Offering Memorandum, or the fulfillment of the terms hereof, or the performance of the Indenture, the Registration Rights Agreement, the New
Notes, the 

  

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Guarantees or the supplement to the Trust Agreement, will (i) violate, conflict with or constitute or result in a breach of or a default under (or an event
that, with notice or lapse of time, or both, would constitute a breach of or a default under) any of (A) the terms or provisions of any contract, indenture, mortgage, deed of trust, loan agreement, note, lease, license, franchise agreement, permit,
certificate or agreement or instrument to which the Company or any of the Guarantors is a party or which the Company or any of the Guarantors is subject and that would materially impair the ability of the Company, the Guarantors or the Dealer
Manager to consummate the transactions contemplated hereby, (B) the articles of incorporation, certificate of incorporation or bylaws of any of the Company or the Subsidiaries (or similar organizational document) or (C) (assuming compliance with
applicable state securities or “Blue Sky” laws and assuming all representations made by the Dealer Manager in Section 4 hereof are true and correct) any statute, judgment, decree, order, rule or regulation of any court or governmental
agency or other body applicable to the Company or the Subsidiaries or any of their respective properties or assets or (ii) result in the imposition of any lien upon or with respect to any of the properties or assets now owned or hereafter acquired
by the Company or any of the Subsidiaries except as expressly contemplated by the Indenture or the Registration Rights Agreement. 
  
 (u) The consolidated historical financial statements of Holdco and its consolidated subsidiaries in the Offering Memorandum (together, the
“Financial Statements”) present fairly the financial condition, results of operations and cash flows of Holdco as of the dates and for the periods indicated and have been prepared in conformity with Canadian generally accepted
accounting principles (“Canadian GAAP”) applied on a consistent basis throughout the periods involved (except as otherwise noted therein), or in the case of the audited consolidated financial statements of the TEN Group Pty. Limited
and controlled entities, in accordance with Australian generally accepted accounting principles, applied on a consistent basis and have been reconciled with U.S. generally accepted accounting principles applied on a consistent basis. The summary and
selected financial data included in the Offering Memorandum present fairly the information shown therein and have been prepared and compiled on a basis consistent with the audited and interim unaudited financial statements included therein, except
as otherwise stated therein 
  
 (v)
PricewaterhouseCoopers LLP (the “Holdco Auditors”), which has certified certain financial statements of Holdco and its consolidated subsidiaries and delivered its report with respect to the audited financial statements of Holdco in
the Offering Memorandum, are independent public accountants with respect to Holdco within the meaning of the Securities Act and are objective within the meaning of such term in the handbook of the Canadian Institute of Chartered Accountants.

  
 (w) Except as described in the Offering
Memorandum, there is not pending or, to the knowledge of the Company or any of the Subsidiaries, threatened any action, suit, proceeding, inquiry or investigation, governmental or otherwise (including under any Environmental Law), to which any of
the Company or any of the Subsidiaries is a party, or to which their respective properties or assets are subject, before or brought by any court, arbitrator or governmental agency or body, that, if determined adversely to the 

  

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Company or any such Subsidiary, would, individually or in the aggregate, have a Material Adverse Effect. 
  
 (x) Each of the Company and the Subsidiaries owns or leases
all such properties as are necessary to the conduct of its operations as presently conducted. 
  
 (y) The Company and each of its consolidated subsidiaries maintain a system of internal accounting controls sufficient to provide
reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with Canadian
GAAP and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at
reasonable intervals and appropriate action is taken with respect to any differences. 
  
 (z) None of the Company or any of the Subsidiaries is (i) in violation of its articles of incorporation, certificate of incorporation or
bylaws, as the case may be (or similar organizational document), (ii) in breach or violation of any statute, judgment, decree, order, rule or regulation (including Environmental Laws) applicable to it or any of its properties or assets, which
violation would, individually or in the aggregate, have a Material Adverse Effect, or (iii) in breach or default (nor has any event occurred which with notice or passage of time, or both, would constitute a default) in the performance or observance
of any obligation, agreement, covenant or condition contained in the Indenture, the Registration Rights Agreement, the New Notes, the Guarantees or this Agreement, or any other material contract, indenture, mortgage, deed of trust, loan agreement,
note, lease, license, franchise agreement, permit, certificate or agreement or instrument to which it is a party or to which it is subject, which breach or default would, individually or in the aggregate, have a Material Adverse Effect. 

 
 (aa) There are no stamp or other issuance or transfer
taxes or duties or other similar fees or charges required to be paid in connection with the execution and delivery of this Agreement, the issuance or sale by the Company of the New Notes, the solicitation or acceptance of Consents or tenders with
respect to the Trust Notes or the entering into of the supplement to the Trust Agreement. 
  
 (bb) Each of the Company and the Subsidiaries has filed all necessary federal, state, provincial, territorial and foreign income and
franchise tax returns, except where the failure to so file such returns would not, individually or in the aggregate, have a Material Adverse Effect, and has paid all taxes shown as due thereon, and other than tax deficiencies which the Company or
any Subsidiary is contesting in good faith and for which adequate reserves have been provided in accordance with Canadian generally accepted accounting principles, there is no tax deficiency that has been asserted against the Company or any
Subsidiary that would, individually or in the aggregate, have a Material Adverse Effect. 
  

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 (cc) No labor problem or dispute with the employees of the Company or any of the
Subsidiaries exists or to the knowledge of the Company is threatened or imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its or their respective principal suppliers, contractors or
customers, except as would not have a Material Adverse Effect, and except as set forth in or contemplated in the Offering Memorandum (exclusive of any amendment or supplement thereto). 
  
 (dd) The Company and each of the Subsidiaries possess all licenses, certificates, permits and other
authorizations issued by the appropriate national, local or foreign regulatory authorities necessary to conduct their respective businesses, and neither the Company nor any such Subsidiary has received any notice of proceedings relating to the
revocation or modification of any such certificate, authorization or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a Material Adverse Effect, except as set forth in or contemplated
in the Offering Memorandum (exclusive of any amendment or supplement thereto). 
  
 (ee) Except as disclosed in the Offering Memorandum and except as would not, individually or in the aggregate, have a Material Adverse
Effect, (i) neither the Company nor any of the Subsidiaries is subject to any order, decree or agreement requiring, or otherwise obligated or required to perform any response or corrective action relating to any Hazardous Materials and (ii) there
are no past or present actions, events, operations or activities which could reasonably be expected to prevent or interfere with compliance by the Company or any Subsidiary with any applicable Environmental Law or to result in liability (including,
without limitation, fines or penalties) under any applicable Environmental Law. 
  
 For purposes of this Agreement, the following terms shall have the following meanings: “Environmental Law” means any federal,
state, provincial, local or municipal or foreign statute, law, rule, regulation, ordinance, code or rule of civil or common law and any judicial or administrative interpretation thereof, including any judicial or administrative order, consent decree
or judgment binding on any of the Company or the Subsidiaries, relating to pollution or protection of the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata), natural resources
(including, without limitation, flora and fauna), health or safety including, without limitation, laws and regulations relating to the release of chemicals, pollutants, contaminants, wastes, substances and constituents, petroleum or petroleum
products subject to regulation or which can give rise to liability under Environmental Laws (collectively, “Hazardous Materials”) or to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or
handling of Hazardous Materials. 
  
 (ff) In the
ordinary course of its business, the Company periodically reviews the effect of Environmental Laws on the business, operations and properties of the Company and the Subsidiaries, in the course of which it identifies and evaluates associated costs
and liabilities (including, without limitation, any capital or operating expenditures required for clean-up, closure of properties or compliance with 

  

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Environmental Laws, or any permit, license or approval, any related constraints on operating activities and any potential liabilities to third parties); on
the basis of such review, the Company has reasonably concluded that such associated costs and liabilities would not, singly or in the aggregate, have a Material Adverse Effect, except as set forth in the Offering Memorandum (exclusive of any
amendment or supplement thereto). 
  
 (gg) Except
as set forth in the Offering Memorandum, the Company and each of the Subsidiaries has good and marketable title, free and clear of all liens, claims, encumbrances and restrictions except liens for taxes not yet due and payable, to all property and
assets described in the Offering Memorandum as being owned by it. All leases to which the Company or any of the Subsidiaries is a party are valid and binding and no default by the Company or any such Subsidiary, or, to the best of the Company’s
knowledge, by any other party to any such leases, has occurred or is continuing thereunder, which could result in any material adverse change in the business, financial condition or results of operations of the Company and the Subsidiaries, taken as
a whole, and the Company and the Subsidiaries enjoy peaceful and undisturbed possession under all such leases to which any of them is a party as lessee with such exceptions as do not materially interfere with the use made by the Company or such
Subsidiary. 
  
 Any certificate signed by any officer of the
Company and delivered to the Dealer Manager or counsel for the Dealer Manager in connection with the Exchange Offer shall be deemed a representation and warranty by the Company as to matters covered thereby to the Dealer Manager. 
  
 4. Offering by the Dealer Manager. (a) The Dealer Manager acknowledges
that the New Notes (i) have not been and will not be registered under the Securities Act and may not be offered or sold within the U.S. or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act and (ii) may only be offered or sold in Canada pursuant to exemption from the prospectus requirements of the Canadian Securities Laws. 
  
 (b) The Dealer Manager represents and warrants to and agrees
with the Company that: 
  
 (i) it has not
solicited and it will not solicit tenders of Trust Notes within the U.S. or from, or for the account or benefit of, U.S. persons (x) as part of its distribution at any time or (y) otherwise until 40 days after the delivery of the New Notes pursuant
to the Exchange Offer, except: 
  
 (A) from those
in respect of which Global Bondholder Services Corporation (the “Information Agent”) has informed the Dealer Manager that the Information Agent has received a certification, in the form attached to the Letter of Inquiry, that such
persons are “qualified institutional buyers” (as defined in Rule 144A under the Securities Act); or 
  
 (B) in accordance with Rule 903 of Regulation S under the Securities Act; 
  

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 (ii) it has not solicited and it will not solicit tenders for Trust Notes for New Notes
within the Canadian Provinces or from, or for the account or benefit of, a resident of Canada, except from those in respect of which the Information Agent has informed the Dealer Manager that the Information Agent has received a certification
including all required representations and warranties in the form attached to the Letter of Inquiry, that such persons are “accredited investors” or “sophisticated purchasers” (as defined under applicable Canadian Securities
Laws). 
  
 (iii) neither it nor any person acting
on its behalf has solicited tenders or will solicit tenders of Trust Notes in the U.S. by means of any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act); 
  
 (iv) neither it nor any of its Affiliates nor any person
acting on its or their behalf has engaged or will engage in any directed selling efforts with respect to the New Notes; 
  
 (v) it has not entered and will not enter into any contractual arrangement with any distributor (as that term is defined by Regulation S
under the Securities Act) with respect to the distribution of the New Notes, except with its Affiliates or with the prior written consent of the Company; 
  
 (vi) it and its Affiliates have complied and will comply with the offering restrictions requirement of Regulation S under the Securities
Act; and 
  
 (vii) it is an “accredited
investor” (as defined in Rule 501(a) of Regulation D under the Securities Act). 
  
 5. Agreements. The Company agrees with the Dealer Manager that: 
  
 (a) The Company will furnish to the Dealer Manager and to counsel for the Dealer Manager, without charge, during the period beginning on
the Commencement Date and continuing to and including the Exchange Date, copies of the Offering Documents and any amendments and supplements thereto in such quantities as the Dealer Manager may reasonably request. 
  
 (b) The Company will not amend or supplement the Offering
Documents, other than by filing documents under the Exchange Act that are incorporated by reference therein, without the prior written consent (which may be by e-mail) of the Dealer Manager (which consent shall not be unreasonably withheld);
provided, however, that prior to the Exchange Date, the Company will not file any document under the Exchange Act that is incorporated by reference in the Offering Documents unless, prior to such proposed filing, the Company has
furnished the Dealer Manager a copy of such document for review and the Dealer Manager has not reasonably objected to the filing of such document. The Company will promptly advise the Dealer Manager when any document filed under the Exchange Act
that is incorporated by reference in the Offering Documents shall have been filed with the Commission. 
  

 -12- 

 (c) If, at any time prior to the Exchange Date, any event occurs as a result of which it
is necessary, in the reasonable opinion of counsel for the Dealer Manager, to amend or supplement the Offering Memorandum, in order to make such Offering Memorandum not misleading in the light of the circumstances existing at the time it is
delivered to a holder of Trust Notes or if for any other reason it shall be necessary to amend or supplement the Offering Memorandum in order to comply with applicable laws, rules or regulations, the Company shall (subject to Section 5(b)) (i)
notify the Dealer Manager of any such event or non-compliance at which time the Dealer Manager shall be entitled to cease soliciting tenders until such time as the Company has complied with clause (ii) of this sentence; (ii) forthwith amend or
supplement such Offering Memorandum at its own expense so that, as so amended or supplemented, such Offering Memorandum will not include an untrue statement of a material fact necessary in order to make the statements therein, in the light of the
circumstances existing at the time it is delivered to a holder of Trust Notes, not misleading and will comply with all applicable laws, rules or regulations; and (iii) supply any such amendment or supplement to the Dealer Manager and counsel for the
Dealer Manager without charge in such quantities as the Dealer Manager may reasonably request. The Company will also promptly inform the Dealer Manager of any litigation or administrative action with respect to the Exchange Offer. 
  
 (d) The Company will arrange, if necessary, for the
qualification of the New Notes for offer or sale by the Dealer Manager under the laws of such jurisdictions as the Dealer Manager may designate and will maintain such qualifications in effect so long as required for such offer or sale;
provided that in no event shall the Company or any Guarantor be required to file a prospectus in Canada in respect of the New Notes; provided further that in no event shall the Company be obligated to qualify to do business in
any jurisdiction in which it is not now so qualified or to take any action that would subject it to service of process in suits, other than those arising out of the offering or sale of the New Notes, in any jurisdiction in which it is not now so
subject, or to take any other action that would subject it to taxation in excess of a nominal amount in respect of doing business in any jurisdiction in which it is not otherwise subject. The Company will promptly advise the Dealer Manager of the
receipt by the Company of any notification with respect to the suspension of the qualification of the New Notes for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose. 
  
 (e) Neither the Company nor any of its Affiliates, nor any
person acting on its or their behalf, will, directly or indirectly, make offers or sales of any security, or solicit offers to buy any security, under circumstances that would require the registration of the New Notes under the Securities Act.

  
 (f) Neither the Company nor any of its
Affiliates, nor any person acting on its or their behalf, will engage in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities Act) in connection with any offer or sale of the New Notes in
the U.S.. 
  
 (g) So long as any of the New Notes
are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, Holdco will, during any period in 

  

 -13- 

 
which it is not subject to and in compliance with Section 13 or 15(d) of the Exchange Act, provide to each holder of such restricted securities and to each
prospective purchaser (as designated by such holder) of such restricted securities, upon the request of such holder or prospective purchaser, any information required to be provided by Rule 144A(d)(4) under the Securities Act. This covenant is
intended to be for the benefit of the holders, and the prospective purchasers designated by such holders, from time to time of such restricted securities. 
  
 (h) None of the Company, any of its Affiliates or any person acting on its or their behalf will engage in any directed selling efforts
with respect to the New Notes; and each of them will comply with the offering restrictions requirement of Regulation S under the Securities Act. Terms used in this paragraph have the meanings given to them by Regulation S under the Securities Act.

  
 (i) The Company will cooperate with the
Dealer Manager and use its best efforts to permit the New Notes to be eligible for clearance and settlement through The Depository Trust Company. 
  
 (j) The Company will not for a period of 90 days following the Commencement Date, without prior written consent of the Dealer Manager,
offer, sell or contract to sell, or otherwise dispose (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash
settlement or otherwise) by the Company or any Affiliate of the Company or any person in privity with the Company or any Affiliate or the Company), directly or indirectly, or announce the offering of, any debt securities issued or guaranteed by the
Company (other than the New Notes). 
  
 (k) None
of the Company, its Affiliates or any person acting on its or their behalf will take, directly or indirectly, any action that is designed to cause or result, or which might reasonably be expected to cause or result, under the Exchange Act or
otherwise, in stabilization or manipulation of the price of any security of the Company to facilitate the sale of the New Notes or the tender of Trust Notes in the Exchange Offer. 
  
 (l) The Company agrees to pay the costs and expenses relating to the transactions contemplated hereunder,
including without limitation the following: (i) the preparation of this Agreement, the Registration Rights Agreement and the Indenture, the issuance of the New Notes and the fees of the Participation Trustee and the Note Trustee and any information
agent or exchange agent; (ii) the preparation, printing or reproduction of the Letter of Inquiry and the Offering Documents and each amendment or supplement thereto; (iii) the printing (or reproduction) and delivery (including postage, air freight
charges and charges for counting and packaging) of such copies of the Letter of Inquiry and the Offering Documents (and all amendments or supplements thereto) as may, in each case, be reasonably requested for use in connection with the Exchange
Offer; (iv) the preparation, printing, authentication, issuance and delivery of certificates for the New Notes, including any stamp or transfer taxes in connection with the original issuance and sale of the New Notes; (v) the printing (or
reproduction) and delivery of this Agreement, any blue sky memorandum and all other agreements or documents printed 

  

 -14- 

 
(or reproduced) and delivered in connection with the Exchange Offer; (vi) any registration or qualification of the New Notes for offer and sale under the
blue sky laws of the several states or any non-U.S. jurisdiction (including filing fees and the reasonable fees and expenses of counsel for the Dealer Manager relating to such registration and qualification); (vii) transportation and other expenses
incurred by or on behalf of Company representatives in connection with presentations to prospective participants in the Exchange Offer; (viii) the fees and expenses of the Company’s accountants and the fees and expenses of counsel (including
local and special counsel) for the Company; (ix) fees and expenses incurred in connection with designation of the New Notes as eligible for trading on PORTAL; and (x) all other costs and expenses incident to the performance by the Company of its
obligations hereunder and in connection with the Exchange Offer. 
  
 (m) The Company will, for a period of twelve months following the Commencement Date, furnish to the Dealer Manager, upon request, all reports or other communications (financial or other) generally made available to
stockholders, and deliver to the Dealer Manager (i) as soon as they are available, copies of any reports and financial statements furnished to or filed with the Commission or any securities exchange on which any class of securities of the Company is
listed and (ii) such additional information concerning the business and financial condition of the Company as the Dealer Manager may from time to time reasonably request (such statements to be on a consolidated basis to the extent the accounts of
the Company and the Subsidiaries are consolidated in reports furnished to stockholders). 
  
 6. Conditions to the Obligations of the Dealer Manager. The obligations of the Dealer Manager under this Agreement shall be subject to the accuracy of the representations and warranties on the part of the
Company contained herein at the Commencement Date and the Exchange Date, to the accuracy of the statements of the Company made in any certificates pursuant to the provisions hereof, to the performance by the Company of its obligations hereunder and
to the following additional conditions: 
  
 (a)
(i) At the Commencement Date and the Exchange Date, the Company shall have furnished to the Dealer Manager, in each case addressed to, and in form and substance satisfactory to the Dealer Manager, the opinion of Osler, Hoskin & Harcourt LLP,
Canadian Counsel to the Company, dated the Commencement Date and the Exchange Date, as applicable, addressing the matters set forth in Exhibit C-1 hereto. 
  
 (ii) At the Commencement Date and the Exchange Date, the Company shall have furnished to the Dealer Manager, in each case addressed to,
and in form and substance satisfactory to the Dealer Manager, the opinion of Cleary, Gottlieb, Steen & Hamilton, special U.S. Counsel to the Company, dated the Commencement Date and the Exchange Date, as applicable, addressing the matters set
forth in Exhibit C-2 hereto. 
  
 (iii) At the
Commencement Date and the Exchange Date, the Company shall have furnished to the Dealer Manager, in each case addressed to, and in form and substance satisfactory to the Dealer Manager, the opinion of The Bayard Firm, special Delaware Counsel to the
Company, dated the Commencement Date and the Exchange Date, as applicable, addressing the matters set forth in Exhibit C-3 hereto. 
  

 -15- 

 (iv) At the Exchange Date, the Company shall have furnished to the Dealer Manager, in
each case addressed to, and in form and substance satisfactory to the Dealer Manager, opinions of local counsel, dated the Exchange Date. 
  
 (v) In rendering such opinions, such counsel may rely, as to matters of fact, to the extent it deems proper, on certificates of officers
of the Company and public officials. References to the Offering Memorandum in Section 6(b) below include any amendment or supplement thereto at the Withdrawal Rights Termination Date. 
  
 (b) At the Exchange Date, the Company shall have furnished to the Dealer Manager a certificate of the
Company, signed by an executive officer of the Company, dated as of the Exchange Date, to the effect that the signer of such certificate has carefully examined the Offering Documents, any amendment or supplement to the Offering Documents and this
Agreement and that: 
  
 (i) the representations
and warranties of the Company in this Agreement are true and correct at all times during the period from the Withdrawal Rights Termination Date to the Exchange Date with the same effect as if made on the Commencement Date, and the Company has
complied with all the agreements and satisfied all the conditions on its part to be performed or satisfied hereunder at or prior to the Exchange Date; and 
  
 (ii) since the date of the most recent financial statements included or incorporated by reference in the Offering Documents (exclusive of
any amendment or supplement thereto), there has been no change that is materially adverse to the business, condition (financial or other), properties or results of operations of the Company and the Subsidiaries, taken as a whole, whether or not
arising from transactions in the ordinary course of business (a “Material Adverse Change”), except as set forth in or contemplated in the Offering Documents (exclusive of any amendment or supplement thereto). 
  
 (c) At each of the Commencement Date, the Withdrawal Rights
Termination Date and the Exchange Date, Holdco shall have requested and caused the Holdco Auditors to furnish to the Dealer Manager letters, dated respectively as of the Commencement Date, the Withdrawal Rights Termination Date and the Exchange
Date, substantially in the form attached hereto as Exhibit D hereto (with respect to the letter dated as of the Commencement Date) and in the form and substance satisfactory to the Dealer Manager (with respect to letters dated as of the Withdrawal
Rights Termination Date and the Exchange Date). 
  
 (d) Subsequent to the Commencement Date or, if earlier, the dates as of which information is given in the Offering Memorandum (exclusive of any amendment or supplement thereto), there shall not have been (i) any change or decrease specified
in the letter or letters referred to in paragraph (d) of this Section 6; or (ii) any change, or any development involving a prospective change, in or affecting the business, condition (financial or other), properties or results of operations of the
Company and the Subsidiaries, taken as a whole, whether or not arising from transactions in the ordinary 

  

 -16- 

 
course of business, not contemplated in the Offering Memorandum (exclusive of any amendment or supplement thereto), that is, in the opinion of the Dealer
Manager, so material and adverse as to make it impractical or inadvisable to market or deliver the New Notes or solicit tenders of Trust Notes as contemplated by the Offering Memorandum (exclusive of any amendment or supplement thereto). 

 
 (e) The New Notes shall have been designated as
PORTAL-eligible securities in accordance with the rules and regulations of the NASD and the New Notes shall be eligible for clearance and settlement through The Depository Trust Company. 
  
 (f) Subsequent to the execution and delivery of this Agreement and on or prior to the Exchange Date, there
shall not have been any decrease in the rating of any of the Holdco’s debt securities by any “nationally recognized statistical rating organization” (as defined for purposes of Rule 436(g) under the Securities Act) or any notice given
of any intended or potential decrease in any such rating or of a possible change in any such rating that does not indicate the direction of the possible change. 
  
 (g) Prior to the Exchange Date, the Company shall have obtained all consents, approvals, authorizations and
orders of, and shall have duly made all registrations, qualifications and filing with, any court or regulatory authority or other governmental agency or instrumentality required in connection with the making and consummation of the Exchange Offer
and the execution, delivery and performance of this Agreement. 
  
 (h) At the Exchange Date, Holdco shall have delivered to the Dealer Manager and its counsel any consent of the lenders under the Credit Agreement required in connection with the execution, delivery and performance of
this Agreement, the Indenture, the Registration Rights Agreement, the New Notes, the Guarantees, the supplement to the Trust Agreement, the Consent or the Offering Documents, or in connection with the conduct and consummation of the Exchange Offer
or the solicitation of Consents in the Consent Solicitation. 
  
 (i) Prior to the Exchange Date, the Company shall have delivered to the Dealer Manager and its counsel such further information, certificates and documents as they may reasonably request. 
  
 If (i) any of the conditions specified in this Section 6 shall not have been
fulfilled when and as provided in this Agreement or (ii) any of the opinions and certificates mentioned above or elsewhere in this Agreement shall not be reasonably satisfactory in form and substance to the Dealer Manager and its counsel, this
Agreement and all obligations of the Dealer Manager hereunder may be cancelled at, or at any time prior to, the Exchange Date by the Dealer Manager. Notice of such cancellation shall be given to the Company in writing or by telephone or facsimile
confirmed in writing.  
  
 7. Indemnification and
Contribution. 
  
 (a) The Company agrees to
indemnify and hold harmless the Dealer Manager, the directors, officers, employees and agents of the Dealer Manager and each person who controls the Dealer Manager within the meaning of either the Securities Act or the 

  

 -17- 

 
Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the
Securities Act, the Exchange Act or other federal, state or foreign statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) relate to, arise out of, or are based
upon (1) any untrue statement or alleged untrue statement of a material fact contained in the Offering Documents or in any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, (2) the failure by the Company or any of its Affiliates to make or consummate the
Exchange Offer or the withdrawal, rescission, termination, amendment or extension of the Exchange Offer or any other failure on the part of the Company or any of its Affiliates to comply with the terms and conditions contained in the Offering
Documents, (3) any action or failure to act by the Company or any of its Affiliates, or their respective directors, officers, agents or employees or by any indemnified party at the request or with the consent of the Company or any of its Affiliates,
or (4) any other action or failure to act by the Company or any of its Affiliates, or their respective directors, officers, agents or employees or by any indemnified party, except that this clause (4) shall not apply with respect to any losses that
are finally judicially determined to have resulted primarily from the gross negligence or willful misconduct of such indemnified party. The Company agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses
reasonably incurred by it in connection with investigating or defending any such loss, claim, damage, liability or action. This indemnity agreement will be in addition to any liability that the Company may otherwise have. 
  
 (b) Promptly after receipt by an indemnified party under
this Section 7 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 7, notify the indemnifying party in writing of the commencement
thereof; but the failure so to notify the indemnifying party (i) will not relieve it from liability under paragraph (a) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the
indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) above. The
indemnifying party shall be entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought
(in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified party or parties except as
set forth below); provided, however, that such counsel shall be satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to represent the indemnified
party in an action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel
chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest; (ii) the actual or potential defendants in, 

  

 -18- 

 
or targets of, any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that
there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party; (iii) the indemnifying party shall not have employed counsel satisfactory to the
indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the
indemnifying party. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or
proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent includes an
unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding. 
  
 (c) In the event that the indemnity provided in paragraph (a) of this Section 7 is unavailable to or insufficient to hold harmless an
indemnified party for any reason, the Company and the Dealer Manager agree to contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in connection with investigating or defending
same) (collectively, the “Losses”) to which the Company and the Dealer Manager may be subject in such proportion as is appropriate to reflect the relative benefits received by the Dealer Manager on the one hand and the Company on
the other from the Exchange Offer; provided, however, that in no case shall the Dealer Manager be responsible for any amount in excess of the Fee due (or anticipated to be due) to the Dealer Manager hereunder. If the allocation
provided by the immediately preceding sentence is unavailable for any reason, the Company and the Dealer Manager shall contribute in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the
Company on the one hand and of the Dealer Manager on the other in connection with the statements, omissions, actions or failure to act that resulted in such Losses, as well as any other relevant equitable considerations. Benefits received (or
anticipated to be received) by the Company shall be deemed to be equal to the principal amount of the securities in respect of which: (a) if the Exchange Offer is consummated, valid tenders of Trust Notes are received or (b) if the Exchange Offer is
not consummated, valid tenders are or were sought pursuant to the Exchange Offer, and benefits received (or anticipated to be received) by the Dealer Manager shall be deemed to be equal to the Fee paid by the Company to the Dealer Manager hereunder
(exclusive of amounts paid for reimbursement of expenses or paid under this Agreement). Relative fault shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact or any other alleged conduct relates to information provided by the Company or other conduct by the Company on the one hand or the Dealer Manager on the other, the intent of the parties and their relative
knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The Company and the Dealer Manager agree that it would not be just and equitable if contribution were determined by pro rata allocation or any
other method of allocation that does not take account of the equitable considerations referred to 

  

 -19- 

 
above. Notwithstanding the provisions of this paragraph (c), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 7, each person who controls the Dealer Manager within the meaning of either the Securities Act or
the Exchange Act and each director, officer, employee and agent of the Dealer Manager shall have the same rights to contribution as such Dealer Manager, and each person who controls the Company within the meaning of either the Securities Act or the
Exchange Act and each officer and director of the Company shall have the same rights to contribution as the Company, subject in each case to the applicable terms and conditions of this paragraph (c). 
  
 8. Non-Disclosure. The Company shall not disclose the provisions of
this Agreement to any other person without the prior written consent of the Dealer Manager, unless the Company reasonably determines that the failure to make such disclosure would violate applicable law. 
  
 9. Representation and Indemnities to Survive. The respective
agreements, representations, warranties, indemnities and other statements of the Company or its officers and of the Dealer Manager set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation
made by or on behalf of the Dealer Manager or the Company or any of the officers, directors or controlling persons referred to in Section 7 hereof, and will survive delivery of and payment for the New Notes. The provisions of the last sentence of
Section 2 and the provisions of Section 7 hereof shall survive the termination or cancellation of this Agreement. 
  
 10. Notices. All communications hereunder will be in writing and effective only on receipt, and, if sent to the Dealer Manager, will be mailed,
delivered or telefaxed to the Citigroup Global Markets Inc. General Counsel (fax no.: (212) 816-7912) and confirmed to Citigroup Global Markets Inc. at 388 Greenwich Street, New York, New York 10013, Attention: General Counsel; or, if sent to the
Company, will be mailed, delivered or telefaxed to the General Counsel (fax no. (204) 947-9841 and confirmed to it at CanWest Global Communications at 31st Floor, CanWest Global Place, 201 Portage Avenue, Winnipeg, MB R3B 3L7 Canada, attention of
the Legal Department. 
  
 11. Successors. This Agreement
will inure to the benefit of and be binding upon the parties hereto and their respective successors and the officers and directors and controlling persons referred to in Section 7 hereof, and, except as expressly set forth in Section 5(g) hereof, no
other person will have any right or obligation hereunder. 
  
 12.
Jurisdiction. The Company agrees that any suit, action or proceeding against the Company brought by the Dealer Manager, their respective directors, officers, employees and agents, or by any person who controls the Dealer Manager, arising out
of or based upon this Agreement or the transactions contemplated hereby may be instituted in any State or U.S. federal court in the City of New York and the County of New York, and waives any objection that it may now or hereafter have to the laying
of venue of any such proceeding, and irrevocably submits to the non-exclusive jurisdiction of such courts in any suit, action or proceeding. The Company hereby appoints CanWest International Corp., a Delaware corporation (and any successor entity)
as its authorized agent (the “Authorized Agent”) upon whom process may be 

  

 -20- 

 
served in any manner permitted by applicable law and in any suit, action or proceeding arising out of or based upon this Agreement or the transactions
contemplated herein which may be instituted in any State or U.S. federal court in the City of New York and County of New York, by the Dealer Manager, the respective directors, officers, employees and agents of the Dealer Manager, or by any person
who controls the Dealer Manager, and expressly accepts the non-exclusive jurisdiction of any such court in respect of any such suit, action or proceeding. The Company hereby represents and warrants that the Authorized Agent has accepted such
appointment and has agreed to act as said agent for service of process, and the Company agrees to take any and all action, including the filing of any and all documents that may be necessary to continue such appointment in full force and effect as
aforesaid. Service of process upon the Authorized Agent shall be deemed, in every respect, effective service of process upon the Company. Notwithstanding the foregoing, any action arising out of or based upon this Agreement may be instituted by the
Dealer Manager, the respective directors, officers, employees and agents of the Dealer Manager, or by any person who controls the Dealer Manager, in any court of competent jurisdiction in the Province of Manitoba. 
  
 13. Applicable Law. This Agreement will be governed by and construed
in accordance with the laws of the State of New York applicable to contracts made and to be performed within the State of New York. 
  
 14. Currency. Each reference in this Agreement to U.S. dollars (the “relevant currency”) is of the essence. To the fullest extent
permitted by law, the obligation of the Company in respect of any amount due under this Agreement will, notwithstanding any payment in any other currency (whether pursuant to a judgment or otherwise), be discharged only to the extent of the amount
in the relevant currency that the party entitled to receive such payment may, in accordance with its normal procedures, purchase with the sum paid in such other currency (after any premium and costs of exchange) on the day, other than a Saturday, a
Sunday or a legal holiday or a day on which banking institutions or trust companies are authorized or obligated by law to close in The City of New York, immediately following the day on which such party receives such payment. If the amount in the
relevant currency that may be so purchased for any reason falls short of the amount originally due, the Company will pay such additional amounts, in the relevant currency, as may be necessary to compensate for the shortfall. Any obligation of the
Company not discharged by such payment will, to the fullest extent permitted by applicable law, be due as a separate and independent obligation and, until discharged as provided herein, will continue in full force and effect. 
  
 15. Waiver of Immunity. To the extent that the Company has or
hereafter may acquire any immunity (sovereign or otherwise) from any legal action, suit or proceeding, from jurisdiction of any court or from set-off or any legal process (whether service or notice, attachment in aid or otherwise) with respect to
itself or any of its property, the Company hereby irrevocably waives and agrees not to plead or claim such immunity in respect of its obligations under this Agreement. 
  
 16. Counterparts. This Agreement may be signed in one or more counterparts, each of which shall constitute an
original and all of which together shall constitute one and the same instrument. 
  

 -21- 

 17. Headings. The section headings used herein are for convenience only and shall not affect the
construction hereof. 
  

 -22- 

 If the foregoing is in accordance with the Dealer Manager’s understanding of our agreement, the
Dealer Manager shall sign and return to the Company the enclosed duplicate hereof, whereupon this Agreement and the Dealer Manager’s acceptance shall represent a binding agreement between the Company and the Dealer Manager. 
  

			
	 Very truly yours,

	
	 3815668 CANADA INC.

		
	By	 	 
	 	 	 Name:

	 	 	 Title:

  

			
	 CANWEST (U.S.) INC.

		
	By	 	 
	 	 	 Name:

	 	 	 Title:

  

			
	The foregoing Agreement is hereby confirmed and accepted as of the date first above written.
	
	 CITIGROUP GLOBAL MARKETS INC.

		
	By:	 	Citigroup Global Markets Inc.
as Dealer Manager
		
	By	 	 
	 	 	 Name:

	 	 	 Title:

  

 -23- 

  
 Exhibit A 

 
 Dealer Manager Fee 
  
 The Fee paid to Citigroup Global Markets Inc. shall be equal to 1.5% of the
aggregate principal amount of New Notes for which Trust Notes are exchanged in the Exchange Offer, payable on the Exchange Date. 
  
 All payments due under this letter are to be made in U.S. Dollars, free and clear of, and without deduction for, any set-off, claim or applicable taxes
(with appropriate gross-up for any taxes deducted or withheld). The Company will pay such additional amount as will result in the Dealer Managers receiving and retaining (after any deduction or withholding) an amount equal to the payment that would
have been due if no such deduction or withholding had been required or made. For this purpose, “taxes” means all forms of taxation, duties (including stamp duty), levies, imposts, charges and withholdings (including any related or
incidental penalty, fine, interest or surcharge), whenever created or imposed, and whether required by the law or regulations of Canada, the U.S. or elsewhere. 
  

Capitalized terms used, but not defined, herein shall have the meanings ascribed to them by the agreement of which this exhibit is a part. 

 

 A-1 

  
 Exhibit B 

 
 Subsidiaries 
  
 Global Television Network Inc./Réseau de Télévision Global Inc.

 Global Communications Limited 
 Clarinet Music Inc. 

Global Television Centre Ltd. 
 CanWest Global Broadcasting
Inc./Radiodiffusion CanWest Global Inc. 
 CanWest Finance Inc./Financiere CanWest Inc. 
 CanWest Media Sales Limited 
 2846551 Canada Inc. 
 Global Centre Inc. 
 Multisound Publishers Ltd. 
 CanWest International Communications Inc. 
 CanWest Irish Holdings (Barbados) Inc. 
 CanWest Ireland Nominee Limited 
 CanWest MediaWorks Ireland Holdings

 Western Communications Inc. 
 Mobile Video Productions Inc.

 ONtv Holdings Inc. 
 BCTV Holdings Inc. 
 CHEK Holdings Inc. 
 CHBC Holdings Inc. 
 Studio Post & Transfer Sub Inc. 
 Apple Box Productions Sub Inc.

 WIC Television Production Sub Inc. 
 CanWest International
Management Inc. 
 CGS Debenture Holding (Netherlands) B.V. 
 CGS
International Holdings (Netherlands) B.V. 
 CGS Shareholding (Netherlands) B.V. 
 CGS NZ Radio Shareholding (Netherlands) B.V. 
 CGS NZ TV Shareholding (Netherlands) B.V. 
 Montreal Gazette Group Inc./Groupe Montréal Gazette Inc. 
 Ottawa
Citizen Group Inc. 
 Windsor Star Group Inc. 
 Regina Leader Post
Group Inc. 
 Saskatoon StarPhoenix Group Inc. 
 Edmonton Journal
Group Inc. 
 Pacific Newspaper Group Inc. 
 Calgary Herald Group
Inc. 
 Port Alberni Times Group Inc. 
 Nanaimo Daily News Group
Inc. 
 Victoria Times Colonist Group Inc. 
 Lower Mainland
Publishing Group Inc. 
 Southam Digital Inc./Southam Numerique Inc. 
 Vancouver Island Newspaper Group Inc. 
  

 B-1 

 CanWest Publications Inc./Publications CanWest Inc. 
 CanWest Interactive Inc. 
 CanWest-Montreal R. P. Holdings Inc./Société de Portefeuille CanWest-Montréal
R.P. Inc. 
 CanWest-Windsor R. P. Holdings Inc. 
 3919056 Canada
Ltd. 
 ReachCanada Contact Centre Limited 
 Fox Sports World
Canada Holdco Inc. 
 Lonestar Holdco Inc. 
 RetroVista Holdco
Inc. 
 Xtreme Sports Holdco Inc. 
 Global Television Specialty
Networks Inc. 
 Cool Records Inc. 
 MBS Productions Inc.

 Global Television Network Quebec Limited Partnership/Réseau de Télévision Global Québec, Société en Commandite

 CanWest International Distribution Limited 
 DejaView
Partnership 
 Fox Sports World Canada Partnership 
 Lonestar
Partnership 
 National Post Company, The/La Publication National Post 
 Xtreme Sports Partnership 
 Yellow Card Productions Inc. 
 CanWest International Holdings (Luxembourg) S.a.r.l. 
 CanWest International Investments (Luxembourg) S.a.r.l. 
 CGS International Holdings (Luxembourg) S.a.r.l. 
 CGS International
Investments (Luxembourg) S.a.r.l. 
 2922045 Canada Inc. 
 3683303
Canada Inc. 
 CanWest Granada Media Holdings Limited 
 CanWest
International Corp. 
 CanWest Ireland Sales Limited 
 CanWest
MediaWorks (NZ) Limited 
 CanWest Pacific Communications Pty Limited 
 CanWest RadioWorks Limited 
 CanWest TVWorks Limited 
 CTEQ Television Inc. 
 Prime Television Holdco Inc. 
 Prime TV 
 Ten Group Pty Limited, The 
 TV3 Ireland
Productions Limited 
 TV3 Television Network Limited 
 All Sport
Ventures Inc. 
 WIC Amalco Inc. 
 WIC Television Sales Ltd.

 WIC TV Amalco Inc. 
 3740421 Canada Inc. 
  

 -2- 

 3919048 Canada Ltd. 
 Abbotsford Times Publishers Ltd. 
 Alberni Valley Times Publishers Ltd. 
 Canadian Classified Publishers Ltd. 
 Chilliwack Times Publishers Ltd. 
 College Publishers Ltd. 
 Delta Optimist Publishers Ltd. 
 Langley Advance Publishers Ltd. 
 Lower Mainland Digest Publishers Ltd.

 Lower Mainland Homefinder Publishers Ltd. 
 North Shore
Publishers Ltd. 
 NOW Publishers Ltd. 
 Richmond Publishers Ltd.

 South Fraser Publishers Ltd. 
 Vancouver Courier Publishers
Ltd. 
 Vannet Publishers Ltd. 
  

 -3- 

  
 Exhibit C-1 

 
 [Attached hereto.] 
  

 C-1-1 

  
 Exhibit C-2 

 
 [Attached hereto.] 
  

 C-2-1 

  
 Exhibit C-3 

 
 [Attached hereto.] 
  

 C-3-1 

  
 Exhibit D 

 
 Letters of PricewaterhouseCoopers LLP, dated respectively as of the
Commencement Date, the Withdrawal Rights Termination Date and the Exchange Date, in form and substance satisfactory to the Dealer Manager, confirming that they are independent accountants within the meaning of the Exchange Act and the applicable
rules and regulations thereunder and stating in effect that: 
  
 (A) in their opinion the audited financial statements and financial statement schedules included in the Offering Memorandum and reported on by them comply as to form with the applicable accounting requirements of
Regulation S-X; and 
  
 (B) on the basis of a
reading of the latest unaudited financial statements made available by the Company and its subsidiaries; their limited review in accordance with the standards established under Statement on Auditing Standards No. 100 of the unaudited interim
financial information for the three-month period ended May 31, 2004; carrying out certain specified procedures (but not an examination in accordance with generally accepted auditing standards) which would not necessarily reveal matters of
significance with respect to the comments set forth in such letter; a reading of the minutes of the meetings of the stockholders, directors and executive, stockholders and audit and risk management committees of the Company and its subsidiaries; and
inquiries of certain officials of the Company who have responsibility for financial and accounting matters of the Company and its subsidiaries as to transactions and events subsequent to May 31, 2004, nothing came to their attention which caused
them to believe that: 
  
 1) any unaudited financial statements
included in the Offering Memorandum do not comply as to form with applicable accounting requirements of Regulation S-X and with the published rules and regulations of the Commission with respect to financial statements included in annual reports on
Form 20-F or quarterly reports on Form 6-K under the Exchange Act; and said unaudited financial statements are not in conformity with generally accepted accounting principles applied on a basis substantially consistent with that of the audited
financial statements included in the Offering Memorandum; or 
  
 2) with respect to the period subsequent to May 31, 2004, there were any changes, at a specified date not more than five days prior to the date of the letter, in the long-term debt of the Company and its subsidiaries or capital stock of the
Company or decreases in the stockholders’ equity of the Company as compared with the amounts shown on the May 31, 2004 consolidated balance sheet included in the Offering Memorandum, or for the period from June 1, 2004 to such specified date
there were any decreases, as compared with the corresponding period in the preceding year in net revenues or income before income taxes or in total or per share 

  

 D-1 

 
amounts of net income of the Company and its subsidiaries, except in all instances for changes or decreases set forth in such letter, in which case the
letter shall be accompanied by an explanation by the Company as to the significance thereof unless said explanation is not deemed necessary by the Dealer Manager; or 
  
 (3) the information included under the heading “Selected Historical Financial Data” is not in conformity with the
disclosure requirements of Regulation S-K; and 
  
 (C) they have performed certain other specified procedures as a result of which they determined that certain information of an accounting, financial or statistical nature (which is limited to accounting, financial or statistical information
derived from the general accounting records of the Company and its subsidiaries) set forth in the Offering Memorandum, including the information set forth under the caption “Selected Historical Financial Data in the Offering Memorandum, agrees
with the accounting records of the Company and its subsidiaries, excluding any questions of legal interpretation. 
  
 All references in the Offering Memorandum include any amendment or supplement thereto at the date of the applicable letter. 
  

 D-2Registration Rights Agreement, dated as of November 18, 2004

 Exhibit 4.54 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 Dated as of November 18, 2004 
  
 by and among 
  
 3815668 CANADA INC. 
 (immediately prior to its amalgamation with 
 CANWEST MEDIA INC.), 
  
 THE GUARANTORS 
 named herein 
  
 and 
  
 CITIGROUP GLOBAL MARKETS INC., 
 Initial Purchaser 
  

  
 U.S.$130,000,000 
  
 8% SENIOR SUBORDINATED NOTES DUE 2012 
  

  
 TABLE OF CONTENTS

  

					
	 	  	 	  	Page

	 1.
	  	DEFINITIONS	  	1
			
	 2.
	  	REGISTERED EXCHANGE OFFER	  	5
			
	 3.
	  	SHELF REGISTRATION	  	8
			
	 4.
	  	ADDITIONAL INTEREST	  	10
			
	 5.
	  	REGISTRATION PROCEDURES	  	11
			
	 6.
	  	REGISTRATION EXPENSES	  	20
			
	 7.
	  	INDEMNIFICATION	  	21
			
	 8.
	  	RULES 144 AND 144A	  	24
			
	 9.
	  	UNDERWRITTEN REGISTRATIONS	  	24
			
	 10.
	  	MISCELLANEOUS	  	25

  

 -i- 

  
 REGISTRATION RIGHTS AGREEMENT

  
 This Registration Rights Agreement (the
“Agreement”) is made and entered into as of November 18, 2004, by and among 3815668 Canada Inc. (immediately prior to its amalgamation with CanWest Media Inc. (the “Amalgamation”)), a corporation organized under the
federal laws of Canada (the “Company”), the Guarantors (as defined) and Citigroup Global Markets Inc. (the “Initial Purchaser”). 
  
 This Agreement is entered into in connection with the Purchase Agreement, dated October 7, 2004, by and among the Company,
the Guarantors and the Initial Purchaser (the “Purchase Agreement”) relating to, among other things, the sale by the Company to the Initial Purchaser of U.S.$130,000,000 aggregate principal amount of the Company’s 8% Senior
Subordinated Notes due 2012 (the “Notes”) and the unconditional guarantee of the Notes by the Guarantors on a joint and several basis (the “Guarantee”), such Guarantee to become effective upon the Amalgamation. In
order to induce the Initial Purchaser to enter into the Purchase Agreement, the Issuers (as defined) have agreed to provide the registration rights set forth in this Agreement for the benefit of the holders of Registrable Notes (as defined),
including, without limitation, the Initial Purchaser. The execution and delivery of this Agreement is a condition to the Initial Purchaser’s obligation to purchase the Notes under the Purchase Agreement. 
  
 The parties hereby agree as follows: 
  
 1. Definitions 
  
 As used in this Agreement, the following terms shall have the following meanings: 
  
 Additional Interest: See Section 4(a). 
  
 Advice: See the last paragraph of Section 5. 
  
 Agreement: See the first introductory paragraph to this Agreement.

  
 Amalgamation: See the first introductory paragraph to
this Agreement. 
  
 Applicable Period: See Section 2(b).

  
 Business Day: A day that is not a Saturday, a Sunday,
or a day on which banking institutions in New York, New York or Toronto, Canada are required to be closed. 
  
 Commission: The U.S. Securities and Exchange Commission. 
  

 Company: See the first introductory paragraph to this Agreement. 
  
 Effectiveness Date: The 240th day after the Issue Date, in the case of
the Exchange Registration Statement or the Initial Shelf Registration Statement if the Exchange Registration Statement has not been declared effective under the Securities Act and otherwise the 270th day after the delivery of the Shelf Notice in the
case of the Initial Shelf Registration Statement. 
  
 Effectiveness Period: See Section 3(a). 
  
 Event Date: See Section 4(b). 
  
 Exchange
Act: The U.S. Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder. 
  
 Exchange Registration Statement: See Section 2(a). 
  
 Filing Date: The 150th day after the Issue Date (regardless of whether the actual filing precedes such date). For purposes of this Agreement, the
terms “file”, “filed” and “filing” shall include any submission to the Commission for review on a confidential basis pursuant to the procedures applicable to foreign private issuers. 
  
 Guarantee: See the second introductory paragraph to this
Agreement. 
  
 Guarantors: The guarantors identified
on the signature pages attached hereto. 
  
 Holder:
Any registered holder of a Registrable Note or Registrable Notes. 
  
 Indemnified Person: See Section 7(c). 
  
 Indemnifying Person: See Section 7(c). 
  
 Indenture: The Indenture, dated as of November 18, 2004, by and among the Issuers, the Guarantors and The Bank of New York, as trustee, pursuant to which the Notes are being issued, as amended or supplemented from time to time in
accordance with the terms thereof. Initial Purchaser. See the first Introductory paragraph to this Agreement. 
  
 Initial Shelf Registration: See Section 3(a). 
  
 Inspectors: See Section 5(o). 
  
 Issue Date: The date on which the Notes were sold to the Initial Purchaser pursuant to the Purchase Agreement. 
  

 -2- 

 Issuers: The Company and the Guarantors, collectively. 
  
 NASD: National Association of Securities Dealers, Inc. 
  
 Notes: See the second introductory paragraph to this Agreement.

  
 Participant: See Section 7(a). 
  
 Participating Broker-Dealer: Any broker-dealer that is the beneficial
owner (as defined in Rule 13d-3 under the Exchange Act) of Registered Exchange Notes received by such broker-dealer in the Registered Exchange Offer. 
  
 Person: Any individual, corporation, partnership, limited liability company, joint venture, association, joint stock company, trust, unincorporated
organization or government (including any agency or political subdivision thereof). 
  
 Private Exchange: See Section 2(b). 
  
 Private Exchange Notes: See Section 2(b). 
  
 Prospectus: The prospectus included in any Registration Statement (including, without limitation, any prospectus subject to completion and a prospectus that includes any information previously omitted from a
prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of
the Registrable Notes covered by such Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in
such Prospectus. 
  
 Purchase Agreement: See the second
introductory paragraph to this Agreement. 
  
 Records: See
Section 5(o). 
  
 Registered Exchange Notes: See Section
2(a). 
  
 Registered Exchange Offer: See Section 2(a).

  
 Registrable Notes: Each Note upon original issuance
thereof and at all times subsequent thereto and each Registered Exchange Note as to which Section 2(c)(iv) hereof is applicable upon original issuance thereof and at all times subsequent thereto and each Private Exchange Note, until, in the case of
any such Note, Registered Exchange Note or Private Exchange Note, as the case may be, the earliest to occur of (i) a Registration Statement (other 

  

 -3- 

 
than with respect to any Registered Exchange Note as to which Section 2(c)(iv) hereof is applicable) covering such Note, Registered Exchange Note, or Private
Exchange Note as the case may be, has been declared effective by the Commission and such Note, Registered Exchange Note or Private Exchange Note, as the case may be, has been disposed of in accordance with such effective Registration Statement, (ii)
such Note, Registered Exchange Note or Private Exchange Note as the case may be, is sold in compliance with Rule 144, (iii) such Note, Registered Exchange Note or Private Exchange Note, is eligible to be sold pursuant to paragraph (k) of Rule 144,
(iv) in the case of any Note, such Note has been exchanged pursuant to the Registered Exchange Offer for a Registered Exchange Note or Registered Exchange Notes which may be resold without restriction under federal securities laws, or (v) such Note,
Registered Exchange Note or Private Exchange Note, as the case may be, ceases to be outstanding for purposes of the Indenture. 
  
 Registration Statement: Any registration statement of the Company, including, but not limited to, the Exchange Registration Statement, that covers
any of the Registrable Notes pursuant to the provisions of this Agreement, including the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits, and all material incorporated by
reference or deemed to be incorporated by reference in such registration statement. 
  
 Rule 144: Rule 144 under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other than Rule 144A) or regulation hereafter adopted by the Commission providing for offers and
sales of securities made in compliance with the Securities Act resulting in offers and sales by subsequent holders that are not affiliates of an issuer of such securities being free of the registration and prospectus delivery requirements of the
Securities Act. 
  
 Rule 144A: Rule 144A under the
Securities Act, as such Rule may be amended from time to time, or any similar rule (other than Rule 144) or regulation hereafter adopted by the Commission. 
  
 Rule 415: Rule 415 under the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by
the Commission. 
  
 Securities Act: The U.S. Securities Act
of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder. 
  
 Shelf Notice: See Section 2(c). 
  
 Shelf Registration: See Section 3(b). 
  
 Subsequent Shelf Registration: See Section 3(b). 
  

 -4- 

 TIA: The U.S. Trust Indenture Act of 1939, as amended. 
  
 Trustee: The trustee under the Indenture and, if existent, the trustee
under any indenture governing the Registered Exchange Notes and Private Exchange Notes (if any). 
  
 Underwritten registration or underwritten offering: A registration in which securities of one or more of the Issuers are sold to an underwriter for
reoffering to the public. 
  
 2. Exchange Offer 
  
 (a) Each of the Issuers agrees to file with the Commission
no later than the Filing Date, an offer to exchange (the “Registered Exchange Offer”) any and all of the Registrable Notes (other than Private Exchange Notes, if any) for a like aggregate principal amount of debt securities of the
Company which are identical in all material respects to, and representing the same continuing indebtedness as, the Notes (the “Registered Exchange Notes”) (and which are entitled to the benefits of the Indenture or a trust indenture
which is identical in all material respects to the Indenture (including, without limitation, the guarantee provisions thereof) (other than such changes to the Indenture or any such identical trust indenture as are necessary to comply with any
requirements of the Commission to effect or maintain the qualification thereof under the TIA or which eliminate the transfer restrictions on the Notes or provisions for the payment of additional interest in certain circumstances) and which, in
either case, has been qualified under the TIA), except that the Registered Exchange Notes shall have been registered pursuant to an effective Registration Statement under the Securities Act and shall contain no restrictive legend thereon or
provisions for the payment of additional interest under certain circumstances. The Registered Exchange Offer shall be registered under the Securities Act on the appropriate form (the “Exchange Registration Statement”) and shall
comply with all applicable tender offer rules and regulations under the Exchange Act. Each of the Issuers agrees to use its reasonable best efforts to (x) cause the Exchange Registration Statement to be declared effective under the Securities Act on
or before the Effectiveness Date; (y) keep the Registered Exchange Offer open for not less than 20 Business Days (or longer if required by applicable law) after the date that notice of the Registered Exchange Offer is first mailed to Holders; and
(z) consummate the Registered Exchange Offer on or prior to the 270th day following the Issue Date. If after such Exchange Registration Statement is initially declared effective by the Commission, the Registered Exchange Offer or the issuance of the
Registered Exchange Notes thereunder is interfered with by any stop order, injunction or other order or requirement of the Commission or any other governmental agency or court with respect to such Registered Exchange Offer, such Exchange
Registration Statement shall be deemed not to have become effective for purposes of this Agreement. Each Holder who participates in the Registered Exchange Offer will be required to represent (i) that any Registered Exchange Notes received by it
will be acquired in the ordinary course of its business, (ii) that at the time of the consummation of the Registered 

  

 -5- 

 
Exchange Offer such Holder will have no arrangement or understanding with any Person to participate in the distribution of the Registered Exchange Notes,
(iii) that such Holder is not an affiliate of any Issuer within the meaning of the Securities Act, and (iv) any additional representations that the Issuers may reasonably request. Upon consummation of the Registered Exchange Offer in accordance with
this Section 2, the provisions of this Agreement shall continue to apply, mutatis mutandis, solely with respect to Registrable Notes that are Private Exchange Notes, Registered Exchange Notes as to which Section 2(c)(iv) is applicable
and Registered Exchange Notes held by Participating Broker-Dealers, and the Issuers shall have no further obligation to register Registrable Notes (other than Private Exchange Notes and other than in respect of any Registered Exchange Notes as to
which clause 2(c)(iv) hereof applies) pursuant to Section 3 of this Agreement. 
  
 (b) The Issuers shall include within the Prospectus contained in the Exchange Registration Statement the information set forth on Annex
A in a section entitled “Plan of Distribution.” 
  
 Each of the Issuers shall use its reasonable best efforts to keep the Exchange Registration Statement effective and to amend and supplement the Prospectus contained therein, in order to permit such Prospectus to be lawfully delivered by all
Persons subject to the prospectus delivery requirements of the Securities Act for such period of time beginning when the Registered Exchange Notes are first issued in the Registered Exchange Offer and ending upon the earlier of the expiration of the
180th day after the Registered Exchange Offer has been completed and such Persons are no longer required to comply with the prospectus delivery requirements in connection with offers and sales of the Registered Exchange Notes (the
“Applicable Period”). 
  
 If, upon the
consummation of the Exchange Offer, the Initial Purchaser holds any Notes acquired by it that have the status of an unsold allotment in the initial distribution, the Issuers upon the request of the Initial Purchaser shall, simultaneously with the
delivery of the Registered Exchange Notes in the Registered Exchange Offer, issue and deliver to the Initial Purchaser, in exchange (the “Private Exchange”) for the Notes held by the Initial Purchaser, a like principal amount of
debt securities of the Company that are identical in all material respects to the Registered Exchange Notes, except for the existence of restrictions on transfer thereof under the Securities Act and securities laws of the several states of the U.S.
(the “Private Exchange Notes”) (which represent the same continuing indebtedness as the Notes and which are issued pursuant to the same indenture as the Registered Exchange Notes). The Private Exchange Notes shall bear the same
CUSIP number as the Registered Exchange Notes. Interest on the Registered Exchange Notes and Private Exchange Notes will accrue from the last interest payment date on which interest was paid on the Notes surrendered in exchange therefor or, if no
interest has been paid on the Notes, from the Issue Date. 
  

 -6- 

 In connection with the Registered Exchange Offer, the Issuers shall: 
  
 (1) mail, or cause to be mailed, to each Holder a copy of
the Prospectus forming part of the Exchange Registration Statement, together with an appropriate letter of transmittal and related documents; 
  
 (2) utilize the services of a depositary for the Registered Exchange Offer with an address in the Borough of Manhattan, The City of New
York, which may be the Trustee or an affiliate thereof; 
  
 (3) permit Holders to withdraw tendered Registrable Notes at any time prior to the close of business, New York time, on the last Business Day on which the Registered Exchange Offer shall remain open; and 

 
 (4) otherwise comply in all material respects with all
applicable laws. 
  
 As soon as practicable after the close of the
Registered Exchange Offer or the Private Exchange, as the case may be, the Issuers shall: 
  
 (1) accept for exchange all Registrable Notes validly tendered and not validly withdrawn pursuant to the Registered Exchange Offer or the
Private Exchange; 
  
 (2) deliver to the Trustee
for cancellation in accordance with the Indenture all Registrable Notes so accepted for exchange; and 
  
 (3) cause the Trustee to authenticate and deliver promptly to each Holder tendering such Registrable Notes, Registered Exchange Notes or
Private Exchange Notes, as the case may be, equal in principal amount to the Notes of such Holder so accepted for exchange. 
  
 The Registered Exchange Notes and the Private Exchange Notes may be issued under (i) the Indenture or (ii) an indenture identical in all material respects
to the Indenture, which in either event will provide that the Registered Exchange Notes will not be subject to the transfer restrictions set forth in the Indenture and that the Registered Exchange Notes, the Private Exchange Notes and the Notes, if
any, will vote and consent together on all matters as one class and that none of the Registered Exchange Notes, Private Exchange Notes or the Notes, if any, will have the right to vote or consent as a separate class on any matter. For greater
certainty, the Registered Exchange Notes and the Private Exchange Notes, if any, that will be issued in exchange and in substitution for the Notes will evidence the same continuing indebtedness as the Notes. 
  
 (c) If (i) because of any change in law or in currently
prevailing interpretations of the Staff of the Commission, the Company determines that it is not permitted to effect an Registered Exchange Offer, (ii) the Registered Exchange Offer is not consummated within 270 days of the Issue Date, (iii) any
holder of Private Exchange Notes so requests 

  

 -7- 

 
in writing to the Company or (iv) in the case of any Holder that participates in the Registered Exchange Offer (and tenders its Registrable Notes prior to
the expiration thereof), such Holder does not receive Registered Exchange Notes on the date of the exchange that may be sold without restriction under federal securities laws (other than due solely to the status of such Holder as an affiliate of any
Issuer within the meaning of the Securities Act) and so notifies the Company within 30 days following the consummation of the Registered Exchange Offer (and providing a reasonable basis for its conclusions), in the case of each of clauses (i)-(iv),
then the Issuers shall promptly deliver to the Holders and the Trustee written notice thereof (the “Shelf Notice”) and shall file a Shelf Registration pursuant to Section 3. 
  
 (d) Any distribution in Canada of the Registered Exchange
Notes will be effected solely to holders of Registrable Notes who would be eligible to acquire Registered Exchange Notes pursuant to exemptions from the requirement under applicable Canadian securities legislation that the Issuers prepare and file a
prospectus with the relevant Canadian securities regulatory authorities and, as a condition to the sale of their Registrable Notes pursuant to the Registered Exchange Offer, holders of Registrable Notes in Canada will be required to make certain
representations to the Issuers, including a representation that they are entitled under applicable provincial securities laws to acquire the Registered Exchange Notes without the benefit of a prospectus qualified under applicable provincial
securities laws. 
  
 3. Shelf Registration 
  
 If a Shelf Notice is delivered as contemplated by Section 2(c), then:

  
 (a) Shelf Registration. Under the
circumstances set forth below, the Issuers shall as promptly as reasonably practicable file with the Commission a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Registrable Notes (the
“Initial Shelf Registration”). If the Issuers shall not have yet filed the Exchange Registration Statement, each of the Issuers shall file with the Commission the Initial Shelf Registration on or prior to the Filing Date and shall
use its reasonable best efforts to cause such Initial Shelf Registration to be declared effective under the Securities Act on or prior to the Effectiveness Date. Otherwise, the Issuers shall file with the Commission the Initial Shelf Registration
within 90 days of the delivery of the Shelf Notice and shall use their best efforts to cause such Shelf Registration to be declared effective under the Securities Act on or prior to the Effectiveness Date. The Initial Shelf Registration shall be on
Form F-1 or another appropriate form permitting registration of the Registrable Notes for resale by Holders in the manner or manners designated by them (including, without limitation, one or more underwritten offerings). The Issuers shall not permit
any securities other than the Registrable Notes to be included in any Shelf Registration. The Issuers shall use their best efforts to keep the Initial Shelf Registration 

  

 -8- 

 
continuously effective under the Securities Act until the date which is 24 months from the Issue Date (or, if Rule 144(k) under the Securities Act is amended
to permit unlimited resales by non-affiliates within a lesser period, such lesser period) (subject to extension pursuant to the last paragraph of Section 5 hereof) (the “Effectiveness Period”) or such shorter period ending when (i)
all Registrable Notes covered by the Initial Shelf Registration have been sold in the manner set forth and as contemplated in the Initial Shelf Registration or (ii) a Subsequent Shelf Registration covering all of the Registrable Notes has been
declared effective under the Securities Act. 
  
 (b) Subsequent Shelf Registrations. If the Initial Shelf Registration or any Subsequent Shelf Registration ceases to be effective for any reason at any time during the Effectiveness Period (other than because of the sale of all of
the securities registered thereunder), the Issuers shall use their best efforts to obtain the prompt withdrawal of any order suspending the effectiveness thereof, and in any event shall within 30 days of such cessation of effectiveness amend the
Shelf Registration in a manner to obtain the withdrawal of the order suspending the effectiveness thereof, or file an additional “shelf” Registration Statement pursuant to Rule 415 covering all of the Registrable Notes (a
“Subsequent Shelf Registration”). If a Subsequent Shelf Registration is filed, the Issuers shall use their best efforts to cause the Subsequent Shelf Registration to be declared effective as soon as practicable after such filing and
to keep such Subsequent Shelf Registration continuously effective for a period equal to the number of days in the Effectiveness Period less the aggregate number of days during which the Initial Shelf Registration or any Subsequent Shelf
Registrations was previously continuously effective. As used herein the term “Shelf Registration” means the Initial Shelf Registration and any Subsequent Shelf Registration. 
  
 (c) Supplements and Amendments. The Issuers shall use
their best efforts to promptly supplement and amend any Shelf Registration if required by the rules, regulations or instructions applicable to the registration form used for such Shelf Registration, if required by the Securities Act, or if
reasonably requested by the Holders of a majority in aggregate principal amount of the Registrable Notes covered by such Shelf Registration or by any underwriter of such Registrable Notes, in each case, with each Issuer’s consent, which consent
shall not be unreasonably withheld or delayed. 
  

 -9- 

 4. Additional Interest 
  
 (a) The Issuers and the Initial Purchaser agree that the Holders of Registrable Notes will suffer damages if the Issuers fail to fulfill
their obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, each of the Issuers agrees to pay, as liquidated damages, additional interest
(“Additional Interest”) on the Registrable Notes under the circumstances and to the extent set forth below: 
  
 (i) if (A) neither the Exchange Registration Statement nor the Initial Shelf Registration has been filed on or prior to the Filing Date or
(B) notwithstanding that the Issuers have consummated or will consummate an Registered Exchange Offer, the Issuers are required to file a Shelf Registration and such Shelf Registration is not filed on or prior to the 90th day after delivery of the
Shelf Notice, then, in the case of subclause (A), commencing on the day after the Filing Date or, in the case of subclause (B), commencing on the 91st day following delivery of the Shelf Notice, Additional Interest shall accrue on the Registrable
Notes over and above the stated interest at a rate of 0.25% per annum for the first 90 days immediately following the Filing Date or such 90th day, as the case may be, such Additional Interest rate increasing by an additional 0.25% per annum at the
beginning of each subsequent 90-day period; 
  
 (ii) if (A) neither the Exchange Registration Statement nor the Initial Shelf Registration is declared effective on or prior to the Effectiveness Date applicable thereto or (B) notwithstanding that the Issuers have consummated or will
consummate an Registered Exchange Offer, the Issuers are required to file a Shelf Registration and such Shelf Registration is not declared effective by the Commission on or prior to the applicable Effectiveness Date, then, commencing on the day
after such applicable Effectiveness Date, Additional Interest shall accrue on the Registrable Notes over and above the stated interest at a rate of 0.25% per annum for the first 90 days immediately following the day after the applicable
Effectiveness Date, such Additional Interest rate increasing by an additional 0.25% per annum at the beginning of each subsequent 90-day period; and 
  
 (iii) if (A) the Issuers have not exchanged Registered Exchange Notes for all Notes validly tendered in accordance with the terms of the
Registered Exchange Offer on or prior to the 270th day after the Issue Date, (B) the Exchange Registration Statement ceases to be effective at any time prior to consummation of the Registered Exchange Offer or (C) if applicable, a Shelf Registration
has been declared effective and such Shelf Registration ceases to be effective at any time during the Effectiveness Period, then Additional Interest shall accrue on the Registrable Notes over and above the stated interest at a rate of 0.25% per
annum for the first 90 days commencing on the (x) 270th day after the Issue Date in the case of (A) above or (y) the day such Exchange Registration Statement or Shelf Registration ceases to be effective in the case of (B) and (C) above, such
Additional Interest rate increasing by an additional 0.25% per annum at the beginning of each such subsequent 90-day period; 
  
 provided, however, that the Additional Interest rate on the Registrable Notes may not exceed in the aggregate 1.0% per annum; provided further
that if more than one of the foregoing subparagraphs is applicable at the same time the Additional Interest then payable on the Registrable 

  

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Notes shall be the higher of the amounts provided by such applicable subparagraphs (and not the sum thereof); provided further that (1) upon
the filing of the Exchange Registration Statement or each Shelf Registration (in the case of (i) above), (2) upon the effectiveness of the Exchange Registration Statement or each Shelf Registration, as the case may be (in the case of (ii) above), or
(3) upon the exchange of Registered Exchange Notes for all Registrable Notes tendered (in the case of (iii)(A) above) or upon the effectiveness of an Exchange Registration Statement or Shelf Registration which had ceased to remain effective (in the
case of (iii)(B) and (C) above), Additional Interest on any Registrable Notes then accruing Additional Interest as a result of such clause (or the relevant subclause thereof), as the case may be, shall cease to accrue. 
  
 (b) The Issuers shall notify the Trustee within five (5)
Business Days after each and every date on which an event occurs in respect of which Additional Interest is required to be paid (an “Event Date”). Any amounts of Additional Interest due pursuant to (a)(i), (a)(ii) or (a)(iii) of
this Section 4 will be payable in cash on each regular interest payment date specified in the Indenture (to the Holders of Registrable Notes of record on the regular record date therefor (as specified in the Indenture) immediately preceding such
dates), commencing with the first such regular interest payment date occurring after any such Additional Interest commences to accrue. The amount of Additional Interest will be determined by multiplying the applicable Additional Interest rate by the
principal amount of the Notes subject thereto, multiplied by a fraction, the numerator of which is the number of days such Additional Interest rate was applicable during such period (determined on the basis of a 360-day year comprised of twelve
30-day months), and the denominator of which is 360. 
  
 (c) Additional Interest pursuant to this Section 4 shall be the sole and exclusive remedy for any failure by the Issuers to comply with Sections 2, 3 and 5 hereof. 
  
 5. Registration Procedures 
  
 In connection with the filing of any Registration Statement pursuant to Sections 2 or 3 hereof, each Issuer shall effect such registrations to permit the
sale of such securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Issuers hereunder, the Issuers shall: 

 
 (a) Prepare and file with the Commission prior to the
Filing Date, the Exchange Registration Statement or if the Exchange Registration Statement is not filed or is unavailable, a Shelf Registration as prescribed by Section 2 or 3, and use their reasonable best efforts in the case of the Exchange
Registration Statement and best efforts in the case of the Shelf Registration Statement to cause each such Registration Statement to become effective and remain effective as provided herein; provided that, if (1) a Shelf Registration 

  

 -11- 

 
is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 is required to be delivered
under the Securities Act by any Participating Broker-Dealer who seeks to sell Registered Exchange Notes during the Applicable Period and has advised the Company that it is a Participating Broker-Dealer, before filing any Registration Statement or
Prospectus or any amendments or supplements thereto, the Issuers shall, if requested, furnish to and afford the Holders of the Registrable Notes to be registered pursuant to such Shelf Registration or each such Participating Broker-Dealer, as the
case may be, covered by such Registration Statement, their counsel and the managing underwriters, if any, a reasonable opportunity to review copies of all such documents (including copies of any documents to be incorporated by reference therein and
all exhibits thereto) proposed to be filed (in each case at least five days prior to such filing). The Issuers shall not file any such Registration Statement or Prospectus or any amendments or supplements thereto if the Holders of a majority in
aggregate principal amount of the Registrable Notes covered by such Registration Statement, or any such Participating Broker-Dealer, as the case may be, their counsel, or the managing underwriters, if any, shall reasonably object on a timely basis.

  
 (b) Prepare and file with the Commission such
amendments and post-effective amendments to each Shelf Registration or Exchange Registration Statement, as the case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period or the Applicable
Period, as the case may be; cause the related Prospectus to be supplemented by any Prospectus supplement required by applicable law, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the
Securities Act; and comply with the provisions of the Securities Act and the Exchange Act applicable to it with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so
supplemented and with respect to the subsequent resale of any securities being sold by a Participating Broker-Dealer covered by any such Prospectus. The Issuers shall be deemed not to have used their best efforts to keep a Registration Statement
effective during the Applicable Period if they voluntarily take any action that would result in selling Holders of the Registrable Notes covered thereby or Participating Broker-Dealers seeking to sell Registered Exchange Notes not being able to sell
such Registrable Notes or such Registered Exchange Notes during that period unless such action is required by applicable law, rule or regulation or unless the Issuers comply with this Agreement, including, without limitation, the provisions of
paragraph 5(k) hereof and the last paragraph of Section 5. 
  
 (c) If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by
any Participating Broker-Dealer who seeks to sell Registered Exchange Notes during the Applicable Period from whom the Issuers have received written notice that it will be a Participating Broker-Dealer, notify the selling Holders of Registrable
Notes, and each such Participating Broker-Dealer, their 

  

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counsel and the managing underwriters, if any, promptly (but in any event within two Business Days), and confirm such notice in writing, (i) when a
Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective (including in such notice a written statement that
any Holder may, upon request, obtain, without charge, one conformed copy of such Registration Statement or post-effective amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and
exhibits), (ii) of the issuance by the Commission of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any preliminary prospectus or the initiation of any proceedings for that
purpose, (iii) if at any time when a prospectus is required by the Securities Act to be delivered in connection with sales of the Registrable Notes the representations and warranties of any Issuer contained in any agreement with the selling Holders
(including any underwriting agreement contemplated by Section 5(n) hereof) cease to be true and correct in any material respect, (iv) of the receipt by any Issuer of any notification with respect to the suspension of the qualification or exemption
from qualification of a Registration Statement or any of the Registrable Notes or the Registered Exchange Notes to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of any proceeding
for such purpose, (v) of the happening of any event, the existence of any condition or any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed to be
incorporated therein by reference untrue in any material respect or that requires the making of any changes in, or amendments or supplements to, such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement,
it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the Prospectus, it will not contain any
untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (vi) of the
Issuers’ determination that a post-effective amendment to a Registration Statement would be appropriate. 
  
 (d) If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement filed
pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Registered Exchange Notes during the Applicable Period, use their reasonable best efforts to prevent the issuance of any
order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of a Prospectus or suspending the qualification (or exemption from qualification) of any of the Registrable Notes or the Registered
Exchange Notes to be sold by any Participating Broker-Dealer, for sale in any jurisdiction, and, if any such order is issued, to use its best efforts to obtain the withdrawal of any such order at the earliest possible date. 
  

 -13- 

 (e) If a Shelf Registration is filed pursuant to Section 3 and if requested by the
managing underwriters, if any, or the Holders of a majority in aggregate principal amount of the Registrable Notes being sold in connection with an underwritten offering, (i) as promptly as practicable incorporate in a prospectus supplement or
post-effective amendment such information or revisions to information therein relating to such underwriters or selling Holders as the managing underwriters, if any, or such Holders or their counsel reasonably request to be included or made therein,
(ii) make all required filings of such prospectus supplement or such post-effective amendment as soon as practicable after the Issuers have received notification of the matters to be incorporated in such prospectus supplement or post-effective
amendment, and (iii) supplement or make amendments to such Registration Statement. 
  
 (f) If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement filed
pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Registered Exchange Notes during the Applicable Period, furnish to each selling Holder of Registrable Notes and to each
such Participating Broker-Dealer who so requests and to their counsel and each managing underwriter, if any, without charge, one conformed copy of the Registration Statement or Registration Statements and each post-effective amendment thereto,
including financial statements and schedules, and, if requested, all documents incorporated or deemed to be incorporated therein by reference and all exhibits. 
  

(g) If (1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement
filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer, deliver to each selling Holder of Registrable Notes or each such Participating Broker-Dealer, as the case may be, their respective
counsel, and the underwriters, if any, without charge, as many copies of the Prospectus or Prospectuses (including each form of preliminary prospectus) and each amendment or supplement thereto and any documents incorporated by reference therein as
such Persons may reasonably request; and, subject to the last paragraph of this Section 5, the Issuers hereby consent to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders of Registrable Notes and each
Participating Broker-Dealer, and the underwriters or agents, if any, and dealers (if any), in connection with the offering and sale of the Registrable Notes covered by, or the sale by Participating Broker-Dealers of the Registered Exchange Notes
pursuant to, such Prospectus and any amendment or supplement thereto. 
  
 (h) Prior to any public offering of Registrable Notes or any delivery of a Prospectus contained in the Exchange Registration Statement by any Participating Broker-Dealer who seeks to sell Registered Exchange Notes
during the Applicable Period, use their reasonable best efforts to register or qualify, and cooperate with the selling Holders 

  

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of Registrable Notes and each such Participating Broker-Dealer, the underwriters, if any, and their respective counsel in connection with the registration or
qualification (or exemption from such registration or qualification) of such Registrable Notes or Registered Exchange Notes, as the case may be, for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States
as any selling Holder, Participating Broker-Dealer, or the managing underwriter or underwriters, if any, reasonably request in writing; provided that where Registered Exchange Notes held by Participating Broker-Dealers or Registrable Notes
are offered pursuant to an underwritten offering, counsel to the underwriters shall, at the cost and expense of the Issuers, perform the Blue Sky investigations and file registrations and qualifications required to be filed pursuant to this Section
5(h); keep each such registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to be kept effective and do any and all other acts or things reasonably necessary or advisable to enable
the disposition in such jurisdictions of the Registered Exchange Notes by Participating Broker-Dealers or the Registrable Notes covered by the applicable Registration Statement; provided that no Issuer shall be required to (A) qualify
generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject or (C) subject itself to taxation in
excess of a nominal dollar amount in any such jurisdiction where it is not then so subject. 
  
 (i) If a Shelf Registration is filed pursuant to Section 3, cooperate with the selling Holders of Registrable Notes, any Participating
Broker-Dealer and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Notes to be sold, which certificates shall not bear any restrictive legends and shall be
in a form eligible for deposit with The Depository Trust Company; and enable such Registrable Notes to be in such denominations and registered in such names as the managing underwriter or underwriters, if any, or Holders may reasonably request.

  
 (j) Use its reasonable best efforts to cause
the Registrable Notes covered by the Registration Statement to be registered with or approved by such governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriters, if any, to consummate the
disposition of such Registrable Notes, in which case the Issuers will cooperate in all reasonable respects with the filing of such Registration Statement and the granting of such approvals. 
  
 (k) If (1) a Shelf Registration is filed pursuant to Section
3, or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Registered Exchange Notes during the
Applicable Period, upon the occurrence of any event contemplated by paragraph 5(c)(v) or 5(c)(vi) hereof, as promptly as practicable prepare and (subject to Section 5(a) hereof) file with the Commission, at the 

  

 -15- 

 
Issuers’ sole expense, a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus or any document
incorporated or deemed to be incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Notes being sold thereunder or to the purchasers of the Registered Exchange
Notes to whom such Prospectus will be delivered by a Participating Broker-Dealer, any such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading. 
  
 (l) Use its reasonable best efforts to cause the Registrable Notes covered by a Registration Statement to be rated with the appropriate
rating agencies, if so requested by the Holders of a majority in aggregate principal amount of Registrable Notes covered by such Registration Statement or the managing underwriter or underwriters, if any. 
  
 (m) Prior to the effective date of the first Registration
Statement relating to the Registrable Notes, (i) provide the Trustee with printed certificates for the Registrable Notes or the Registered Exchange Notes, as the case may be, in a form eligible for deposit with The Depository Trust Company and (ii)
provide a CUSIP number for the Registrable Notes or the Registered Exchange Notes, as the case may be. 
  
 (n) In connection with an underwritten offering of Registrable Notes pursuant to a Shelf Registration, enter into an underwriting
agreement as is customary in underwritten offerings of debt securities similar to the Notes and take all such other actions as are reasonably requested by the managing underwriter or underwriters in order to expedite or facilitate the registration
or the disposition of such Registrable Notes and, in such connection, (i) make such representations and warranties to the underwriters, with respect to the business of the Issuers and their subsidiaries and the Registration Statement, Prospectus and
documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, as are customarily made by issuers to underwriters in underwritten offerings of debt securities similar to the Notes, and confirm the same in writing if
and when requested; (ii) obtain the opinion of counsel to the Issuers and updates thereof in form and substance reasonably satisfactory to the managing underwriter or underwriters, addressed to the underwriters covering the matters customarily
covered in opinions requested in underwritten offerings of debt securities similar to the Notes and such other matters as may be reasonably requested by managing underwriters; (iii) obtain “cold comfort” letters and updates thereof in form
and substance reasonably satisfactory to the managing underwriter or underwriters from the independent certified public accountants of the Issuers (and, if necessary, any other independent certified public accountants of any subsidiary of any Issuer
or of any business acquired by any Issuer for which financial statements and financial data are, or are required to be, included in the Registration Statement), 

  

 -16- 

 
addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort”
letters in connection with underwritten offerings of debt securities similar to the Notes and such other matters as reasonably requested by the managing underwriter or underwriters; and (iv) if an underwriting agreement is entered into, the same
shall contain indemnification provisions and procedures no less favorable than those set forth in Section 7 hereof (or such other provisions and procedures acceptable to Holders of a majority in aggregate principal amount of Registrable Notes
covered by such Registration Statement and the managing underwriter or underwriters or agents) with respect to all parties to be indemnified pursuant to said Section. The above shall be done at each closing under such underwriting agreement, or as
and to the extent required thereunder. 
  
 (o) If
(1) a Shelf Registration is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Registration Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who
seeks to sell Registered Exchange Notes during the Applicable Period, make available for inspection by any selling Holder of such Registrable Notes being sold, and each Participating Broker-Dealer, any underwriter participating in any such
disposition of Registrable Notes, if any, and any attorney, accountant or other agent retained by any such selling Holder, each Participating Broker-Dealer, as the case may be, or underwriter (collectively, the “Inspectors”), at the
offices where normally kept, during reasonable business hours, all financial and other records, pertinent corporate documents and properties of each Issuer and its subsidiaries (collectively, the “Records”) as shall be reasonably
necessary to enable them to exercise any applicable due diligence responsibilities, and cause the officers, directors and employees of each Issuer and its subsidiaries to supply all information reasonably requested by any such Inspector in
connection with such Registration Statement. Records which an Issuer determines, in good faith, to be confidential and any Records which it notifies the Inspectors are confidential shall not be disclosed by the Inspectors unless (i) the disclosure
of such Records is necessary to avoid or correct a misstatement or omission in such Registration Statement, (ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) the
information in such Records has been made generally available to the public other than as a result of a disclosure or failure to safeguard by such Inspector or (iv) disclosure of such information is, in the opinion of counsel for any Inspector,
necessary or advisable in connection with any action, claim, suit or proceeding, directly or indirectly, involving or potentially involving such Inspector and arising out of, based upon, related to, or involving this Agreement, or any transactions
contemplated hereby or arising hereunder. Each selling Holder of such Registrable Notes and each Participating Broker-Dealer or other Inspector will be required to agree that information obtained by it as a result of such inspections shall be deemed
confidential and shall not be used by it as the basis for any market transactions in the securities of any Issuer unless and until such is made generally available to the public. Each Inspector, each selling Holder of such Registrable Notes and each

  

 -17- 

 
Participating Broker-Dealer will be required to further agree that it will, upon learning that disclosure of such Records is sought in a court of competent
jurisdiction pursuant to clauses (ii) or (iv) of the previous sentence or otherwise, give notice to the Issuers and allow the Issuers to undertake appropriate action to obtain a protective order or otherwise prevent disclosure of the Records deemed
confidential at its expense. 
  
 (p) Provide an
indenture trustee for the Registrable Notes or the Registered Exchange Notes, as the case may be, and cause the Indenture or the trust indenture provided for in Section 2(a), as the case may be, to be qualified under the TIA not later than the
effective date of the Registered Exchange Offer or the first Registration Statement relating to the Registrable Notes; and in connection therewith, cooperate with the trustee under any such indenture and the Holders of the Registrable Notes, to
effect such changes to such indenture as may be required for such indenture to be so qualified in accordance with the terms of the TIA; and execute, and use its reasonable best efforts to cause such trustee to execute, all documents as may be
required to effect such changes, and all other forms and documents required to be filed with the Commission to enable such indenture to be so qualified in a timely manner. 
  
 (q) Comply with all applicable rules and regulations of the Commission and make generally available to its
securityholders earnings statements satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 60 days after the end of any 12-month period (or
120 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Notes are sold to underwriters in a firm commitment or best efforts underwritten offering and (ii) if
not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter of the Company after the effective date of a Registration Statement, which statements shall cover said 12-month periods. 
  
 (r) Upon consummation of the Registered Exchange Offer or a
Private Exchange, obtain an opinion of counsel to the Issuers, in a form customary for underwritten transactions, addressed to the Trustee for the benefit of all Holders of Registrable Notes participating in the Registered Exchange Offer or the
Private Exchange, as the case may be, that the Registered Exchange Notes or the Private Exchange, as the case may be, the Guarantee and the related indenture constitute legally valid and binding obligations of the Issuers, enforceable against the
Issuers in accordance with their respective terms. 
  
 (s) If the Registered Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Registrable Notes by Holders to the Issuers (or to such other Person as directed by the Company) in exchange for the Registered Exchange
Notes, or the Private Exchange Notes, as the case may be, the Issuers shall mark, or cause to be marked, on such Registrable Notes that such Registrable Notes are being cancelled in exchange 

  

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for the Registered Exchange Notes or the Private Exchange Notes, as the case may be; in no event shall such Registrable Notes be marked as paid or otherwise
satisfied. 
  
 (t) Cooperate with each seller of
Registrable Notes covered by any Registration Statement and each underwriter, if any, participating in the disposition of such Registrable Notes and their respective counsel in connection with any filings required to be made with the NASD.

  
 (u) Use its reasonable best efforts to take
all other steps reasonably necessary to effect the registration of the Registrable Notes covered by a Registration Statement contemplated hereby. 
  
 The Issuers may require each seller of Registrable Notes as to which any registration is being effected to furnish to the Issuers such information
regarding such seller and the distribution of such Registrable Notes as the Issuers may, from time to time, reasonably request. The Issuers may exclude from such registration the Registrable Notes of any seller who fails to furnish such information
within a reasonable time after receiving such request. Each seller as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the Issuers all information required to be disclosed in order to make the information
previously furnished to the Issuers by such seller not materially misleading. 
  
 Each Holder of Registrable Notes and each Participating Broker-Dealer agrees by acquisition of such Registrable Notes or Registered Exchange Notes to be sold by such Participating Broker-Dealer, as the case may be,
that, upon receipt of any notice from the Issuers of the happening of any event of the kind described in Section 5(c)(ii), 5(c)(iv), 5(c)(v), or 5(c)(vi), such Holder will forthwith discontinue disposition of such Registrable Notes covered by such
Registration Statement or Prospectus or Registered Exchange Notes to be sold by such Holder or Participating Broker-Dealer, as the case may be, and, in each case, dissemination of such Prospectus until such Holder’s or Participating
Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 5(k), or until it is advised in writing (the “Advice”) by the Company that the use of the applicable Prospectus may be
resumed, and has received copies of any amendments or supplements thereto. In the event the Issuers shall give any such notice, each of the Effectiveness Period and the Applicable Period shall be extended by the number of days during such periods
from and including the date of the giving of such notice to and including the date when each seller of Registrable Notes covered by such Registration Statement or Registered Exchange Notes to be sold by such Participating Broker-Dealer, as the case
may be, shall have received (x) the copies of the supplemented or amended Prospectus contemplated by Section 5(k) or (y) the Advice. 
  

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 6. Registration Expenses 
  
 All fees and expenses incident to the performance of or compliance with this Agreement by the Issuers shall be borne by the Issuers whether or not the
Registered Exchange Offer or a Shelf Registration is filed or becomes effective, including, without limitation, (i) all registration and filing fees (including, without limitation, (A) fees with respect to filings required to be made with the NASD
in connection with an underwritten offering and (B) fees and expenses of compliance with state securities or Blue Sky laws (including, without limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the
Registrable Notes or Registered Exchange Notes and determination of the eligibility of the Registrable Notes or Registered Exchange Notes for investment under the laws of such jurisdictions (x) where the holders of Registrable Notes are located, in
the case of the Registered Exchange Notes, or (y) as provided in Section 5(h) hereof, in the case of Registrable Notes or Registered Exchange Notes to be sold by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses,
including, without limitation, expenses of printing certificates for Registrable Notes or Registered Exchange Notes in a form eligible for deposit with The Depositary Trust Company and of printing prospectuses if the printing of prospectuses is
requested by the managing underwriter or underwriters, if any, or by the Holders of a majority in aggregate principal amount of the Registrable Notes included in any Registration Statement or by any Participating Broker-Dealer, as the case may be,
(iii) reasonable messenger, telephone and delivery expenses incurred in connection with the Exchange Registration Statement and any Shelf Registration, (iv) reasonable fees and disbursements of counsel for the Issuers and fees and disbursements of
Cahill Gordon & Reindel LLP, special counsel for the Initial Purchaser and the sellers of Registrable Notes, or such other counsel as may be appointed the Initial Purchaser or a majority of the sellers of Registrable Notes, (v)
fees and disbursements of all independent certified public accountants referred to in Section 5(n)(iii) (including, without limitation, the expenses of any special audit and “cold comfort” letters required by or incident to such
performance), (vi) rating agency fees, (vii) Securities Act liability insurance, if any Issuer desires such insurance, (viii) fees and expenses of all other Persons retained by the Issuers, (ix) internal expenses of the Issuers (including, without
limitation, all salaries and expenses of officers and employees of the Issuers performing legal or accounting duties), (x) the expense of any annual or special audit, (xi) the fees and expenses incurred in connection with the listing of the
securities to be registered on any securities exchange, (xii) the fees and disbursements of underwriters, if any, customarily paid by issuers or sellers of securities (but not including any underwriting discounts or commissions or transfer taxes, if
any, attributable to the sale of the Registrable Notes which discounts, commissions or taxes shall be paid by Holders of such Registrable Notes) and (xiii) the expenses relating to printing, word processing and distributing all Registration
Statements, underwriting agreements, securities sales agreements, indentures and any other documents necessary in order to comply with this Agreement. 
  

 -20- 

 7. Indemnification 
  
 (a) The Issuers jointly and severally agree to indemnify and hold harmless each Holder of Registrable Notes and each Participating
Broker-Dealer, the officers, directors, employees and agents of each such Person, and each Person, if any, who controls any such Person within the meaning of the Securities Act or the Exchange Act (each, a “Participant”), from and
against any and all losses, claims, damages and liabilities, joint or several (including, without limitation, the reasonable legal fees and other reasonable expenses actually incurred in connection with any suit, action or proceeding or any claim
asserted) to which they or any of them may become subject under the Securities Act, the Exchange Act or other Federal or state statutory law or regulation, or pursuant to Canadian securities laws, at common law or otherwise, insofar as such losses,
claims, damages or liabilities are caused by, arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or Prospectus (as amended or supplemented if the Issuers shall
have furnished any amendments or supplements thereto) or are caused by, arise out of or are based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading, except insofar as such losses, claims, damages or liabilities are caused by any untrue statement or omission or alleged untrue statement or omission made in reliance upon and
in conformity with information relating to any Participant furnished to the Issuers in writing by or on behalf of such Participant expressly for use therein; provided, however, that the Issuers shall not be liable if such untrue
statement or omission or alleged untrue statement or omission was contained or made in any preliminary prospectus and corrected in the Prospectus or any amendment or supplement thereto and the Prospectus does not contain any other untrue statement
or omission or alleged untrue statement or omission of a material fact that was the subject matter of the related proceeding and any such loss, liability, claim, damage or expense suffered or incurred by the Participants resulted from any action,
claim or suit by any Person who purchased Registrable Notes or Registered Exchange Notes which are the subject thereof from such Participant and it is established in the related proceeding that such Participant failed to deliver or provide a copy of
the Prospectus (as amended or supplemented) to such Person with or prior to the confirmation of the sale of such Registrable Notes or Registered Exchange Notes sold to such Person if required by applicable law, unless such failure to deliver or
provide a copy of the Prospectus (as amended or supplemented) was a result of noncompliance by the Issuers with Section 5 of this Agreement. 
  
 (b) Each Participant will be required to agree, severally and not jointly, to indemnify and hold harmless each Issuer, its directors and
officers and each Person who controls each Issuer within the meaning of the Securities Act or the Exchange Act to the same extent as the foregoing indemnity from the Issuers to each Participant, but only with 

  

 -21- 

 
reference to information relating to such Participant furnished to the Issuers in writing by such Participant expressly for use in any Registration Statement
or Prospectus, any amendment or supplement thereto, or any preliminary prospectus. The liability of any Participant under this paragraph shall in no event exceed the proceeds received by such Participant from sales of Registrable Notes or Registered
Exchange Notes giving rise to such obligations. 
  
 (c) If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against any Person in respect of which indemnity may be sought pursuant to either of the two
preceding paragraphs, such Person (the “Indemnified Person”) shall promptly notify the Person against whom such indemnity may be sought (the “Indemnifying Person”) in writing, and the Indemnifying Person, upon
request of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others the Indemnifying Person may reasonably designate in such proceeding and shall pay the
reasonable fees and expenses actually incurred by such counsel related to such proceeding; provided, however, that the failure to so notify the Indemnifying Person (i) will not relieve it from liability under paragraph (a) or (b) above
unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii) shall not relieve it of any other obligation or liability which it
may have hereunder or otherwise. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying
Person and the Indemnified Person shall have mutually agreed in writing to the contrary, (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person or (iii) the named parties
in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and the Indemnified Person shall have reasonably concluded that (x) there may be one or more legal defenses available to it
and/or (y) other Indemnified Persons and such Indemnifying Person such that joint representation would not be appropriate and/or (z) the use of counsel chosen by the Indemnifying Person to represent the Indemnified Person would present such counsel
with a conflict of interest causing the representation to be inappropriate under applicable professional standards. It is understood that, unless there is a conflict among Indemnified Persons, the Indemnifying Person shall not, in connection with
any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed
as they are incurred. Any such separate firm for the Participants and such control Persons of Participants shall be designated in writing by Participants who sold a majority in interest of Registrable Notes sold by all such Participants and any such
separate firm for the Issuers, their respective directors, officers and such control Persons of the Issuers shall be designated in writing by the Company. The Indemnifying Person shall not 

  

 -22- 

 
be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there is a final non-appealable
judgment for the plaintiff, the Indemnifying Person agrees to indemnify any Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified
Person shall have requested an Indemnifying Person to reimburse the Indemnified Person for reasonable fees and expenses actually incurred by counsel as contemplated by the third sentence of this paragraph, the Indemnifying Person agrees that it
shall be liable for any settlement of any proceeding effected without its consent if (i) such settlement is entered into more than 30 days after receipt by such Indemnifying Person of the aforesaid request and (ii) such Indemnifying Person shall not
have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement; provided, however, that the Indemnifying Person shall not be liable for any settlement effected without its consent pursuant
to this sentence if the Indemnifying Person is contesting, in good faith, the request for reimbursement. No Indemnifying Person shall, without the prior written consent of the Indemnified Person (which consent shall not be unreasonably withheld),
effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party or indemnity could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an
unconditional release of such Indemnified Person, in form and substance satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to an admission of
fault, culpability or failure to act by or on behalf of an Indemnified Person. 
  
 (d) If the indemnification provided for in the first and second paragraphs of this Section 7 is unavailable to, or insufficient to hold
harmless, an Indemnified Person in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraphs, in lieu of indemnifying such Indemnified Person thereunder and in order to provide for
just and equitable contribution, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect the relative fault of the
Indemnifying Person or Persons on the one hand and the Indemnified Person or Persons on the other in connection with the statements or omissions (or alleged statements or omissions) that resulted in such losses, claims, damages or liabilities (or
actions in respect thereof) as well as any other relevant equitable considerations. The relative fault of the parties shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by the Issuers on the one hand or by the Participants or such other Indemnified Person, as the case may be, on the other, the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission and any other equitable considerations appropriate under the circumstances. 
  

 -23- 

 (e) The parties agree that it would not be just and equitable if contribution pursuant to
this Section 7 were determined by pro rata allocation (even if the Participants were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in
the immediately preceding paragraph. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the
limitations set forth above, any reasonable legal or other expenses actually incurred by such Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 7, in no event
shall a Participant be required to contribute any amount in excess of the amount by which proceeds received by such Participant from sales of Registrable Notes or Registered Exchange Notes, as the case may be, exceeds the amount of any damages that
such Participant has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 
  
 (f) The indemnity and contribution agreements contained in this Section 7 will be in addition to any liability which the Indemnifying
Persons may otherwise have to the Indemnified Persons referred to above. 
  
 8.
Rules 144 and 144A 
  
 Each of the Issuers covenants that it will
file the reports, if any, required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the Commission thereunder in a timely manner and, if at any time it is not required to file such reports, it
will, upon the request of any Holder of Registrable Notes, make publicly available other information so long as necessary to permit sales pursuant to Rule 144 and Rule 144A under the Securities Act. Each of the Issuers further covenants, for so long
as any Registrable Notes remain outstanding, to make available to any Holder or beneficial owner of Registrable Notes in connection with any sale thereof and any prospective purchaser of such Registrable Notes from such Holder or beneficial owner,
the information required by Rule 144A(d)(4) under the Securities Act in order to permit resales of such Registrable Notes pursuant to Rule 144A. 
  
 9. Underwritten Registrations 
  
 If any of the Registrable Notes covered by any Shelf Registration are to be sold in an underwritten offering, the investment banker or investment bankers
and manager or managers that will manage the offering will be selected by the Holders of a majority in aggregate principal amount of such Registrable Notes included in such offering and reasonably acceptable to the Issuers. 
  

 -24- 

 No Holder of Registrable Notes may participate in any underwritten registration hereunder unless such
Holder (a) agrees to sell such Holder’s Registrable Notes on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers
of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 
  
 10. Miscellaneous 
  
 (a) Remedies. In the event of a breach by any Issuer of any of its obligations under this Agreement, each Holder of Registrable
Notes and each Participating Broker-Dealer holding Registered Exchange Notes, in addition to being entitled to exercise all rights provided herein, in the Indenture or, in the case of the Initial Purchaser, in the Purchase Agreement, or granted by
law, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. Each Issuer agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of any of
the provisions of this Agreement and hereby further agrees that, in the event of any action for specific performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate. 
  
 (b) No Inconsistent Agreements. None of the Issuers
has entered, as of the date hereof, and none of the Issuers shall enter, after the date of this Agreement, into any agreement with respect to any of its securities that is inconsistent with the rights granted to the Holders of Registrable Notes in
this Agreement or otherwise conflicts with the provisions hereof. None of the Issuers has entered and none of the issuers shall enter into any agreement with respect to any of its securities which will grant to any Person piggy-back rights with
respect to a Registration Statement, other than the registration rights agreement to be entered into in connection with an additional $631,054,211 principal amount of Notes issued on the date hereof. 
  
 (c) Adjustments Affecting Registrable Notes. None of
the Issuers shall, directly or indirectly, take any action with respect to the Registrable Notes as a class that would adversely affect the ability of the Holders of Registrable Notes to include such Registrable Notes in a registration undertaken
pursuant to this Agreement. 
  
 (d) Amendments
and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, otherwise than with the prior written consent of (A) the Holders of
not less than a majority in aggregate principal amount of the then outstanding Registrable Notes and (B) in circumstances that would adversely affect Participating Broker-Dealers, the Participating Broker-Dealers holding not less than a majority in
aggregate principal amount of the Registered Exchange Notes held by all Participating 

  

 -25- 

 
Broker-Dealers; provided, however, that Section 7 and this Section 10(d) may not be amended, modified or supplemented without the prior written consent of
each Holder and each Participating Broker-Dealer (including any person who was a Holder or Participating Broker-Dealer of Registrable Notes or Registered Exchange Notes, as the case may be, disposed of pursuant to any Registration Statement).
Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Registrable Notes whose securities are being tendered pursuant to the Registered
Exchange Offer or sold pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit or compromise the rights of other Holders of Registrable Notes may be given by Holders of at least a majority in aggregate
principal amount of the Registrable Notes being tendered or being sold by such Holders pursuant to such Registration Statement. 
  
 (e) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery,
registered first-class mail, next-day air courier or telecopier: 
  
 1. if to a Holder of Registrable Notes or any Participating Broker-Dealer, at the most current address of such Holder or Participating Broker-Dealer, as the case may be, set forth on the records of the registrar under
the Indenture, with a copy, in the case of a notice to all Holders of Registrable Notes, in like manner to the Initial Purchaser as follows: 
  
 Citigroup Global Markets Inc. 
 388 Greenwich Street 
 New York, New York 10013 
 United States 
 Facsimile No.: (212) 723-8589 
 Attention:     General Counsel 
  
 with a copy (which shall not constitute notice) to:

  
 Cahill Gordon & Reindel
LLP 
 80 Pine Street 
 New York, New York 10005 
 United States 
 Facsimile No.: (212) 269-5420 
 Attention:     Geoffrey E. Liebmann, Esq. 
  
 2. if to the Initial Purchaser, at the address specified in Section 10(e)(1); 
  

 -26- 

 3. if to any Issuer, to such Issuer at the following address: 
  
 CanWest Media Inc. 
 201 Portage Avenue, 31st Floor 
 CanWest Global Place 
 Winnipeg, Manitoba R3B 3L7 
 Canada 
 Facsimile No.: (204) 947-9841 
 Attention: Legal Department 
  
 with a copy (which shall not constitute notice) to:

  
 Osler, Hoskin & Harcourt LLP 

Box 50 
 1 First Canadian Place 
 Toronto, Ontario M5X 1B8 
 Canada 
 Facsimile No.: (416) 862-6666 
 Attention: Doug Marshall, Esq. 
  
 and: 
  
 Cleary, Gottlieb, Steen & Hamilton 
 One Liberty Plaza 
 New York, New York 10006 
 United States 
 Facsimile No.: (212) 225-3999 
 Attention: David Lopez, Esq. 
  
 All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; one Business Day after being
timely delivered to a next-day air courier guaranteeing overnight delivery; and when receipt is acknowledged by the addressee, if telecopied. 
  
 Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee under the
Indenture at the address specified in such Indenture. 
  
 (f) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto and the Holders; provided, however, that this Agreement shall not inure to the
benefit of or be binding upon a successor or assign of a Holder unless and to the extent such successor or assign holds Registrable Notes. 
  

 -27- 

 (g) Counterparts. This Agreement may be executed in any number of counterparts and
by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
  
 (h) Headings. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the meaning hereof. 
  
 (i) Governing Law. THE VALIDITY AND INTERPRETATION OF THIS AGREEMENT, AND THE TERMS AND CONDITIONS SET FORTH HEREIN SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY PROVISIONS RELATING TO CONFLICTS OF LAW. EACH OF THE ISSUERS HEREBY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE FEDERAL AND NEW YORK
STATE COURTS LOCATED IN THE CITY OF NEW YORK IN CONNECTION WITH ANY DISPUTE RELATED TO THIS AGREEMENT OR ANY MATTERS CONTEMPLATED HEREBY. SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY REGISTERED MAIL ADDRESSED TO SUCH ISSUER AT THE ADDRESS
SET FORTH ABOVE SHALL BE EFFECTIVE SERVICE OF PROCESS AGAINST SUCH ISSUER FOR ANY SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT. EACH OF THE ISSUERS IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY OBJECTION TO THE LAYING OF VENUE OF ANY SUCH SUIT,
ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING HAS BEEN BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. A FINAL
JUDGMENT IN ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT MAY BE ENFORCED IN ANY OTHER COURTS TO WHOSE JURISDICTION SUCH ISSUER IS OR MAY BE SUBJECT, BY SUIT UPON JUDGMENT. 
  
 (j) Severability. If any term, provision, covenant or
restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and
shall in no way be affected, impaired or invalidated, and the parties hereto shall use their best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared
invalid, illegal, void or unenforceable. 
  

 -28- 

 (k) Notes Held by any Issuer or Its Affiliates. Whenever the consent or approval
of Holders of a specified percentage of Registrable Notes is required hereunder, Registrable Notes held by any Issuer or its affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such
consent or approval was given by the Holders of such required percentage. 
  
 (l) Third Party Beneficiaries. Holders of Registrable Notes and Participating Broker-Dealers are intended third party beneficiaries of this Agreement and this Agreement may be enforced by such Persons.

  
 (m) Entire Agreement. This Agreement,
together with the Purchase Agreement and the Indenture, is intended by the parties as a final and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and
all prior oral or written agreements, representations, or warranties, contracts, understandings, correspondence, conversations and memoranda among the Initial Purchaser on the one hand and the Issuers on the other, or between or among any agents,
representatives, parents, subsidiaries, affiliates, predecessors in interest or successors in interest with respect to the subject matter hereof and thereof are merged herein and replaced hereby. 
  
 (n) Agent for Service; Submission to Jurisdiction; Waiver
of Immunities. By the execution and delivery of this Agreement, each of the Issuers (i) acknowledges that it has, by separate written instrument, designated and appointed CanWest International Corp. (“CWIC”) (and any successor entity)
as its authorized agent upon which process may be served in any suit or proceeding arising out of or relating to this Agreement that may be instituted in any federal or state court in The City of New York, Borough of Manhattan, State of New York or
brought under federal or state securities laws, and acknowledges that CWIC has accepted such designation, (ii) submits to the jurisdiction of any such court in any such suit or proceeding and (iii) agrees that service of process upon CWIC and
written notice of said service to such Issuers in accordance with Section 10(e) shall be deemed in effective service of process upon such Issuers in any such suit or proceeding. Each of the Issuers further agrees to take any reasonable action,
including the execution and filing of any and all such documents and instruments, as may be necessary to continue such designation and appointment of CWIC in full force and effect so long as any of the Notes shall be outstanding; provided that the
Issuers may, by written notice to the Initial Purchaser, designate such additional or alternative agent for service of process under this Section 10(n) that (i) maintains an office located in the Borough of Manhattan, City of New York, State of New
York and (ii) is either (x) counsel for the Issuers, (y) a subsidiary of the Company or (z) a corporate service company which acts as agent for service of process for other persons in the ordinary course of its business. Such written notice shall
identify the name of such agent for service of process and the address of the 

  

 -29- 

 
office of such agent for service of process in the Borough of Manhattan, City of New York, State of New York. 
  
 (o) Judgment Currency. The Issuers shall, jointly and
severally, indemnify each Purchaser, each Participating Broker-Dealer, each underwriter who participates in an offering of Registrable Notes, their respective affiliates, each Person, if any, who controls any of such parties within the meaning of
the Securities Act or the Exchange Act and each of their respective officers, directors, employees and agents against any loss incurred by such party as a result of any judgment or order being given or made in favor of such party for any amount due
under this Agreement and such judgment or order being expressed and paid in a currency (the “Judgment Currency”) other than United States dollars and as a result of any variation as between (i) the rate of exchange at which the
United States dollar amount is converted into the Judgment Currency for the purpose of such judgment or order and (ii) the spot rate of exchange in The City of New York at which such party on the date of payment of such judgment or order is able to
purchase United States dollars with the amount of the Judgment Currency actually received by such party. The foregoing indemnity shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. The term “spot
rate of exchange” shall include any premiums and costs of exchange payable in connection with the purchase of, or conversion into, United States dollars. 
  

(p) Joint and Several Obligations. All of the obligations of the Issuers hereunder shall be joint and several obligations of
each of them. 
  
 [Signature pages follow] 
  

 -30- 

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

  

			
	COMPANY:
	
	3815668 CANADA INC.
		
	By:	 	 
	 	 	 Name: John Maguire

	 	 	 Title: Vice-President, Finance and Chief
           Financial Officer

		
	By:	 	 
	 	 	 Name:
[                    ]

	 	 	 Title:  
[                    ]

  

			
	 GUARANTORS:
  
 2846551 CANADA INC.
 3919056 CANADA LTD.
 APPLE BOX PRODUCTIONS SUB INC.
 BCTV HOLDINGS INC.
 CALGARY HERALD GROUP INC.
 CANWEST FINANCE INC./FINANCIERE CANWEST INC.
 CANWEST GLOBAL BROADCASTING
INC./RADIODIFFUSION CANWEST GLOBAL INC.
 CANWEST INTERACTIVE INC.
 CANWEST INTERNATIONAL COMMUNICATIONS INC.
 CANWEST INTERNATIONAL DISTRIBUTION LIMITED
 CANWEST INTERNATIONAL MANAGEMENT INC.
 CANWEST IRELAND NOMINEE LIMITED
 CANWEST IRISH HOLDINGS (BARBADOS) INC.
 CANWEST MEDIA SALES LIMITED
 CANWEST MEDIAWORKS IRELAND HOLDINGS
 CANWEST PUBLICATIONS INC./PUBLICATIONS CANWEST
INC.
 CANWEST-MONTREAL R. P. HOLDINGS INC./SOCIÉTÉ DE PORTEFEUILLE CANWEST-MONTRÉAL R.P.
INC.
 CANWEST-WINDSOR R. P. HOLDINGS INC.
 CGS DEBENTURE HOLDING (NETHERLANDS) B.V.
 CGS INTERNATIONAL HOLDINGS (NETHERLANDS) B.V.
 CGS NZ RADIO SHAREHOLDING (NETHERLANDS) B.V.
 CGS NZ TV SHAREHOLDING (NETHERLANDS) B.V.
 CGS SHAREHOLDING (NETHERLANDS) B.V.
 CHBC HOLDINGS INC.
 CHEK HOLDINGS INC.
 CLARINET MUSIC INC.
 COOL RECORDS INC.
 EDMONTON JOURNAL GROUP INC.
 FOX SPORTS WORLD CANADA HOLDCO
INC.

  

			
	 GLOBAL CENTRE INC.
 GLOBAL COMMUNICATIONS LIMITED
 GLOBAL TELEVISION CENTRE LTD.
 GLOBAL TELEVISION NETWORK INC./RÉSEAU DE TÉLÉVISION GLOBAL INC.
 GLOBAL TELEVISION NETWORK QUEBEC LIMITED PARTNERSHIP/RÉSEAU DE TÉLÉVISION GLOBAL QUÉBEC,
SOCIÉTÉ EN COMMANDITE
 GLOBAL TELEVISION SPECIALTY NETWORKS INC.
 LONESTAR HOLDCO INC.
 LOWER MAINLAND PUBLISHING GROUP INC.
 MBS PRODUCTIONS INC.
 MOBILE VIDEO PRODUCTIONS INC.
 MONTREAL GAZETTE GROUP INC./GROUPE MONTRÉAL GAZETTE INC.
 MULTISOUND PUBLISHERS LTD.
 NANAIMO DAILY NEWS GROUP INC.
 ONTV HOLDINGS INC.
 OTTAWA CITIZEN GROUP INC.
 PACIFIC NEWSPAPER GROUP INC.
 PORT ALBERNI TIMES GROUP INC.
 REACHCANADA CONTACT CENTRE LIMITED
 REGINA LEADER POST GROUP INC.
 RETROVISTA HOLDCO INC.
 SASKATOON STARPHOENIX GROUP INC.
 SOUTHAM DIGITAL INC./SOUTHAM NUMERIQUE
INC.
 STUDIO POST & TRANSFER SUB INC.
 VANCOUVER ISLAND NEWSPAPER GROUP INC.
 VICTORIA TIMES COLONIST GROUP INC.
 WESTERN COMMUNICATIONS INC.
 WIC TELEVISION PRODUCTION SUB INC.
 WINDSOR STAR GROUP INC.
 XTREME SPORTS HOLDCO INC.
 YELLOW CARD PRODUCTIONS INC.

		
	By:	 	 
	 	 	 Name: John Maguire

	 	 	 Title:   Authorized Signing Officer

  

			
	CITIGROUP GLOBAL MARKETS INC.
		
	By:	 	 
	 	 	 Name:

	 	 	 Title:

  

  
 ANNEX A 
  
 PLAN OF DISTRIBUTION 
  
 Each broker-dealer that receives Registered Exchange Notes for its own
account pursuant to the Registered Exchange Offer must acknowledge that it will deliver a Prospectus in connection with any resale of such Registered Exchange Notes. This Prospectus, as it may be amended or supplemented from time to time, may be
used by a broker-dealer in connection with resales of Registered Exchange Notes received in exchange for Notes where such Notes were acquired as a result of market-making activities or other trading activities. The Issuers have agreed that, for a
period of 180 days after the consummation of the Registered Exchange Offer, they will make this Prospectus, as amended or supplemented, available to any broker-dealer for use in connection with any such resale. 
  
 The Issuers will not receive any proceeds from any sale of Registered
Exchange Notes by brokers-dealers. Registered Exchange Notes received by broker-dealers for their own account pursuant to the Registered Exchange Offer may be sold from time to time in one or more transactions in the over-the-counter market, in
negotiated transactions, through the writing of options on the Registered Exchange Notes or a combination of such methods of resale, at market prices prevailing at the time of resale, at prices related to such prevailing market prices or negotiated
prices. Any such resale may be made directly to purchasers or to or through brokers or dealers who may receive compensation in the form of commissions or concessions from any such broker-dealer and/or the purchasers of any such Registered Exchange
Notes. Any broker-dealer that resells Registered Exchange Notes that were received by it for its own account pursuant to the Registered Exchange Offer and any broker or dealer that participates in a distribution of such Registered Exchange Notes may
be deemed to be an “underwriter” within the meaning of the Securities Act and any profit of any such resale of Registered Exchange Notes and any commissions or concessions received by any such persons may be deemed to be underwriting
compensation under the Securities Act. The Letter of Transmittal states that by acknowledging that it will deliver and by delivering a Prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning
of the Securities Act. 
  
 For a period of 180 days after the
consummation of the Registered Exchange Offer, the Issuers will promptly send additional copies of this Prospectus and any amendments or supplements to this Prospectus to any broker-dealer that requests such documents in the Letter of Transmittal.
The Issuers have agreed to pay all expenses incident to the Registered Exchange Offer (including the expenses of one counsel for the holder of the Notes) other than commissions or concessions of any brokers or dealers and will indemnify the holders
of the Notes (including any broker-dealers) against certain liabilities, including liabilities under the Securities Act. 
  

 A-1

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