Document:

Form of Subordinated Debt Indenture

 Exhibit 4.3 
 [Form of] 
 GULFPORT ENERGY CORPORATION 

to 

[TRUSTEE] 

Trustee 

SUBORDINATED DEBT INDENTURE 
 Dated as of [                    ] 

 GULFPORT ENERGY CORPORATION 

Certain Sections of this Indenture relating to 
 Sections 310 through 318, inclusive, of the 
 Trust Indenture Act of 1939

  

			
	 Trust Indenture Act Section
	  	 Indenture Section

	Section 310(a)(1)	  	609
	(a)(2)	  	609
	(a)(3)	  	Not Applicable
	(a)(4)	  	Not Applicable
	(b)	  	608
	Section 311(a)	  	613
	(b)	  	613
	Section 312(a)	  	701
		  	702
	(b)	  	702
	(c)	  	702
	Section 313(a)	  	703
	(b)	  	703
	(c)	  	703
	(d)	  	703
	Section 314(a)	  	704
	(a)(4)	  	101
	(b)	  	Not Applicable
	(c)(1)	  	102
	(c)(2)	  	102
	(c)(3)	  	Not Applicable
	(d)	  	Not Applicable
	(e)	  	102
	Section 315(a)	  	601
	(b)	  	602
	(c)	  	601
	(d)	  	601
	(e)	  	514
	Section 316(a)	  	101
	(a)(1)(A)	  	502
		  	512
	(a)(1)(B)	  	513
	(a)(2)	  	Not Applicable
	(b)	  	508
	(c)	  	104
	Section 317(a)(1)	  	503
	(a)(2)	  	504
	(b)	  	1003
	Section 318(a)	  	107

  
 Note:
This reconciliation and tie shall not, for any purpose, be deemed to be a part of the Indenture. 

  
 i 

 Table of Contents 

 

							
	 ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	  
	 SECTION 101.
	  	 Definitions
	  	 	1	  
	 SECTION 102.
	  	 Compliance Certificates and Opinions
	  	 	9	  
	 SECTION 103.
	  	 Form of Documents Delivered to Trustee
	  	 	9	  
	 SECTION 104.
	  	 Acts of Holders; Record Dates
	  	 	10	  
	 SECTION 105.
	  	 Notices, Etc., to Trustee and Company
	  	 	12	  
	 SECTION 106.
	  	 Notice to Holders; Waiver
	  	 	12	  
	 SECTION 107.
	  	 Conflict with Trust Indenture Act
	  	 	13	  
	 SECTION 108.
	  	 Effect of Headings and Table of Contents
	  	 	13	  
	 SECTION 109.
	  	 Successors and Assigns
	  	 	13	  
	 SECTION 110.
	  	 Separability Clause
	  	 	13	  
	 SECTION 111.
	  	 Benefits of Indenture
	  	 	13	  
	 SECTION 112.
	  	 Governing Law
	  	 	14	  
	 SECTION 113.
	  	 Legal Holidays
	  	 	14	  
	 SECTION 114.
	  	 No Adverse Interpretation of Other Agreements
	  	 	14	  
	 SECTION 115.
	  	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	 	14	  
	 SECTION 116.
	  	 Language of Notices, Etc.
	  	 	14	  
		
	 ARTICLE II SECURITY FORMS
	  	 	15	  
	 SECTION 201.
	  	 Forms Generally
	  	 	15	  
	 SECTION 202.
	  	 Form of Face of Security
	  	 	15	  
	 SECTION 203.
	  	 Form of Reverse of Security
	  	 	17	  
	 SECTION 204.
	  	 Form of Legend for Global Securities
	  	 	20	  
	 SECTION 205.
	  	 Form of Trustee’s Certificate of Authentication
	  	 	20	  
		
	 ARTICLE III THE SECURITIES
	  	 	20	  
	 SECTION 301.
	  	 Amount Unlimited; Issuable in Series
	  	 	20	  
	 SECTION 302.
	  	 Denominations
	  	 	23	  
	 SECTION 303.
	  	 Execution, Authentication, Delivery and Dating
	  	 	23	  
	 SECTION 304.
	  	 Temporary Securities
	  	 	25	  
	 SECTION 305.
	  	 Registration, Registration of Transfer and Exchange
	  	 	25	  
	 SECTION 306.
	  	 Mutilated, Destroyed, Lost and Wrongfully Taken Securities
	  	 	27	  
	 SECTION 307.
	  	 Payment of Interest; Interest Rights Preserved
	  	 	28	  
	 SECTION 308.
	  	 Persons Deemed Owners
	  	 	29	  
	 SECTION 309.
	  	 Cancellation
	  	 	29	  
	 SECTION 310.
	  	 Computation of Interest
	  	 	30	  
	 SECTION 311.
	  	 CUSIP Numbers
	  	 	30	  
		
	 ARTICLE IV SATISFACTION AND DISCHARGE
	  	 	30	  
	 SECTION 401.
	  	 Satisfaction and Discharge of Indenture
	  	 	30	  
	 SECTION 402.
	  	 Application of Trust Money
	  	 	31	  
		
	 ARTICLE V REMEDIES
	  	 	31	  
	 SECTION 501.
	  	 Events of Default
	  	 	31	  
	 SECTION 502.
	  	 Acceleration of Maturity; Rescission and Annulment
	  	 	33	  
	 SECTION 503.
	  	 Collection of Indebtedness and Suits for Enforcement by Trustee
	  	 	34	  

  
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	 SECTION 504.
	  	 Trustee May File Proofs of Claim
	  	 	35	  
	 SECTION 505.
	  	 Trustee May Enforce Claims Without Possession of Securities
	  	 	35	  
	 SECTION 506.
	  	 Application of Money Collected
	  	 	35	  
	 SECTION 507.
	  	 Limitation on Suits
	  	 	36	  
	 SECTION 508.
	  	 Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert
	  	 	36	  
	 SECTION 509.
	  	 Restoration of Rights and Remedies
	  	 	36	  
	 SECTION 510.
	  	 Rights and Remedies Cumulative
	  	 	37	  
	 SECTION 511.
	  	 Delay or Omission Not Waiver
	  	 	37	  
	 SECTION 512.
	  	 Control by Holders
	  	 	37	  
	 SECTION 513.
	  	 Waiver of Past Defaults
	  	 	37	  
	 SECTION 514.
	  	 Undertaking for Costs
	  	 	38	  
		
	 ARTICLE VI THE TRUSTEE
	  	 	38	  
	 SECTION 601.
	  	 Certain Duties and Responsibilities
	  	 	38	  
	 SECTION 602.
	  	 Notice of Defaults
	  	 	38	  
	 SECTION 603.
	  	 Certain Rights of Trustee
	  	 	38	  
	 SECTION 604.
	  	 Not Responsible for Recitals or Issuance of Securities
	  	 	40	  
	 SECTION 605.
	  	 May Hold Securities
	  	 	40	  
	 SECTION 606.
	  	 Money Held in Trust
	  	 	40	  
	 SECTION 607.
	  	 Compensation and Reimbursement
	  	 	40	  
	 SECTION 608.
	  	 Conflicting Interests
	  	 	41	  
	 SECTION 609.
	  	 Corporate Trustee Required; Eligibility
	  	 	41	  
	 SECTION 610.
	  	 Resignation and Removal; Appointment of Successor
	  	 	41	  
	 SECTION 611.
	  	 Acceptance of Appointment by Successor
	  	 	43	  
	 SECTION 612.
	  	 Merger, Conversion, Consolidation or Succession to Business
	  	 	44	  
	 SECTION 613.
	  	 Preferential Collection of Claims Against Company
	  	 	44	  
		
	 ARTICLE VII HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY
	  	 	44	  
	 SECTION 701.
	  	 Company to Furnish Trustee Names and Addresses of Holders
	  	 	44	  
	 SECTION 702.
	  	 Preservation of Information; Communications to Holders
	  	 	44	  
	 SECTION 703.
	  	 Reports by Trustee
	  	 	45	  
	 SECTION 704.
	  	 Reports by Company
	  	 	45	  
		
	 ARTICLE VIII CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE
	  	 	45	  
	 SECTION 801.
	  	 Company May Consolidate, Etc., Only on Certain Terms
	  	 	45	  
	 SECTION 802.
	  	 Successor Substituted
	  	 	46	  
		
	 ARTICLE IX SUPPLEMENTAL INDENTURES
	  	 	46	  
	 SECTION 901.
	  	 Supplemental Indentures Without Consent of Holders
	  	 	46	  
	 SECTION 902.
	  	 Supplemental Indentures With Consent of Holders
	  	 	48	  
	 SECTION 903.
	  	 Execution of Supplemental Indentures
	  	 	49	  
	 SECTION 904.
	  	 Effect of Supplemental Indentures
	  	 	49	  
	 SECTION 905.
	  	 Conformity with Trust Indenture Act
	  	 	49	  
	 SECTION 906.
	  	 Reference in Securities to Supplemental Indentures
	  	 	49	  
	 SECTION 907.
	  	 Subordination Unimpaired
	  	 	50	  
		
	 ARTICLE X COVENANTS
	  	 	50	  
	 SECTION 1001.
	  	 Payment of Principal, Premium and Interest
	  	 	50	  
	 SECTION 1002.
	  	 Maintenance of Office or Agency
	  	 	50	  

  
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	 SECTION 1003.
	  	 Money for Securities Payments to Be Held in Trust
	  	 	51	  
	 SECTION 1004.
	  	 Statement by Officers as to Default
	  	 	52	  
	 SECTION 1005.
	  	 Waiver of Certain Covenants
	  	 	52	  
		
	 ARTICLE XI REDEMPTION OF SECURITIES
	  	 	52	  
	 SECTION 1101.
	  	 Applicability of Article
	  	 	52	  
	 SECTION 1102.
	  	 Election to Redeem; Notice to Trustee
	  	 	52	  
	 SECTION 1103.
	  	 Selection by Trustee of Securities to Be Redeemed
	  	 	53	  
	 SECTION 1104.
	  	 Notice of Redemption
	  	 	54	  
	 SECTION 1105.
	  	 Deposit of Redemption Price
	  	 	54	  
	 SECTION 1106.
	  	 Securities Payable on Redemption Date
	  	 	55	  
	 SECTION 1107.
	  	 Securities Redeemed in Part
	  	 	55	  
		
	 ARTICLE XII SINKING FUNDS
	  	 	55	  
	 SECTION 1201.
	  	 Applicability of Article
	  	 	55	  
	 SECTION 1202.
	  	 Satisfaction of Sinking Fund Payments with Securities
	  	 	56	  
	 SECTION 1203.
	  	 Redemption of Securities for Sinking Fund
	  	 	56	  
		
	 ARTICLE XIII DEFEASANCE AND COVENANT DEFEASANCE
	  	 	56	  
	 SECTION 1301.
	  	 Company’s Option to Effect Defeasance or Covenant Defeasance
	  	 	56	  
	 SECTION 1302.
	  	 Defeasance and Discharge
	  	 	57	  
	 SECTION 1303.
	  	 Covenant Defeasance
	  	 	57	  
	 SECTION 1304.
	  	 Conditions to Defeasance or Covenant Defeasance
	  	 	58	  
	 SECTION 1305.
	  	 Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions
	  	 	59	  
	 SECTION 1306.
	  	 Reinstatement
	  	 	60	  
		
	 ARTICLE XIV SUBORDINATION OF SECURITIES
	  	 	60	  
	 SECTION 1401.
	  	 Securities Subordinate to Senior Debt
	  	 	60	  
	 SECTION 1402.
	  	 Payment Over of` Proceeds Upon Dissolution, Etc.
	  	 	61	  
	 SECTION 1403.
	  	 Prior Payment to Senior Debt Upon Acceleration of Securities
	  	 	62	  
	 SECTION 1404.
	  	 No Payment When Senior Debt in Default
	  	 	62	  
	 SECTION 1405.
	  	 Payment Permitted in Certain Situations
	  	 	63	  
	 SECTION 1406.
	  	 Subrogation to Rights of Holders of Senior Debt
	  	 	64	  
	 SECTION 1407.
	  	 Provisions Solely to Define Relative Rights
	  	 	64	  
	 SECTION 1408.
	  	 Trustee to Effectuate Subordination
	  	 	64	  
	 SECTION 1409.
	  	 No Waiver of Subordination Provisions
	  	 	65	  
	 SECTION 1410.
	  	 Notice to Trustee
	  	 	65	  
	 SECTION 1411.
	  	 Reliance on Judicial Order or Certificate of Liquidating Agent
	  	 	66	  
	 SECTION 1412.
	  	 Trustee Not Fiduciary for Holders of Senior Debt
	  	 	66	  
	 SECTION 1413.
	  	 Rights of Trustee as Holder of Senior Debt; Preservation of Trustees Rights
	  	 	66	  
	 SECTION 1414.
	  	 Article Applicable to Paying Agents
	  	 	66	  

  
 iii

 SUBORDINATED DEBT INDENTURE, dated as of
[                    ], between THE Gulfport Energy Corporation, a corporation duly organized and existing under the laws of the State of
Delaware (herein called the “Company”), having its principal office at 14313 North May Avenue, Suite 100, Oklahoma City, Oklahoma 73134 and [TRUSTEE], a
[                    ] banking corporation, as Trustee (herein called the “Trustee”). 

RECITALS OF THE COMPANY 
 The Company has duly authorized the execution and delivery of this Indenture to provide for the issuance from time to time of its unsecured debentures, notes or other evidences of indebtedness (herein
called the “Securities”), to be issued in one or more series as in this Indenture provided. 
 All
things necessary to make this Indenture a valid agreement of the Company, in accordance with its terms, have been done. 

NOW, THEREFORE, THIS INDENTURE WITNESSETH: 
 For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and proportionate benefit of all Holders of the Securities or of
series thereof, as follows: 
 ARTICLE I 
 DEFINITIONS AND OTHER PROVISIONS 
 OF GENERAL APPLICATION 

SECTION 101. Definitions. 
 For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires: 

(1) the terms defined in this Article have the meanings assigned to them in this Article and include the plural as well as
the singular; 
 (2) all other terms used herein which are defined in the Trust Indenture Act, either directly or
by reference therein, have the meanings assigned to them therein; 
 (3) all accounting terms not otherwise
defined herein have the meanings assigned to them in accordance with generally accepted accounting principles; 

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

  
 1 

 (6) when used with respect to any Security, the words “convert”,
“converted” and “conversion” are intended to refer to the right of the Holder or the Company to convert or exchange such Security into or for securities or other property in accordance with such terms, if any, as may hereafter be
specified for such Security as contemplated by Section 301, and these words are not intended to refer to any right of the Holder or the Company to exchange such Security for other Securities of the same series and like tenor pursuant to
Section 304, 305, 306, 906 or 1107 or another similar provision of this Indenture, unless the context otherwise requires; and references herein to the terms of any Security that may be converted mean such terms as may be specified for such
Security as contemplated in Section 301. 
 “Act”, when used with respect to any Holder, has the
meaning specified in Section 104. 
 “Affiliate” of any specified Person means any other Person
directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to
direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to
the foregoing. 
 “Applicable Procedures” of a Depositary means, with respect to any matter at any time,
the policies and procedures of such Depositary, if any, that are applicable to such matter at such time. 
 “Board of
Directors” means either the board of directors of the Company or any duly authorized committee of that board. 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the
Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Trustee. 
 “Business Day”, when used with respect to any Place of Payment, means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that
Place of Payment are authorized or obligated by law or executive order to close; provided that, when used with respect to any Security, “Business Day” may have such other meaning, if any, as may be specified for such Security as
contemplated by Section 301. 
 “Capital Stock” means: 

(i) in the case of a corporation, corporate stock; 

(ii) in the case of a limited liability company or similar entity, any membership or similar interests therein;

 (iii) in the case of an association or business entity, any and all shares, interests, participations, rights
or other equivalents (however designated) of corporate stock; 

  
 2 

 (iv) in the case of a partnership, partnership interests (whether general or
limited); and 
 (v) any other interest or participation that confers on a Person the right to receive a share of
the profits and losses of, or distributions of assets of, the issuing Person. 
 “Commission” means the
Securities and Exchange Commission, from time to time constituted, created under the Exchange Act, or, if at any time after the execution of this instrument such Commission is not existing and performing the duties now assigned to it under the Trust
Indenture Act, then the body performing such duties at such time. 
 “Company” means the Person named as
the “Company” in the first paragraph of this instrument until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person.

 “Company Request” or “Company Order” means a written request or order signed
in the name of the Company by any two of the following: a Chairman of the Board, a Vice Chairman of the Board, a President, a Vice President, a Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary of the Company, or any other
officer or officers of the Company designated in writing by or pursuant to authority of the Board of Directors and delivered to the Trustee from time to time. 
 “Corporate Trust Office” means the principal office of the Trustee in New York, New York at which at any particular time its corporate trust business shall be administered, which
at the date hereof is located at
[                                         
                                   ]. 

“Corporation” means a corporation, association, company (including a limited liability company), joint-stock
company, business trust or other similar entity. 
 “Covenant Defeasance” has the meaning specified in
Section 1303. 
 “Credit Agreement” means the credit agreement dated as of
                             ,         , among
the Company, the financial institutions party thereto as lenders, and                         , as administrative agent,
together with related documents thereto including any guarantee agreements and security documents, as amended, modified supplemented, restated, renewed, refunded, replaced, restructured repaid or refinanced from time to time (including any agreement
extending the maturity thereof or increasing the amount of available borrowings thereunder or adding entities as additional borrowers or guarantors thereunder) whether with the original agents and lenders or otherwise and whether provided under the
original credit agreement or other credit agreements or otherwise. 
 “Defaulted Interest” has the
meaning specified in Section 307. 
 “Defeasance” has the meaning specified in Section 1302.

 “Depositary” means, with respect to Securities of any series issuable in whole or in part in the form
of one or more Global Securities, a clearing agency that is designated to act as Depositary for such Securities as contemplated by Section 301. 

  
 3 

 “Equity Interests” means Capital Stock and all warrants, options or
other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Event of Default” has the meaning specified in Section 501. 
 “Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended from time to time. 

“Expiration Date” has the meaning specified in Section 104. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a
significant segment of the accounting profession, which are in effect from time to time. 
 “Global
Security” means a Security that evidences all or part of the Securities of any series and bears the legend set forth in Section 204 (or such legend as may be specified as contemplated by Section 301 for such Securities).

 “Holder” means a Person in whose name a Security is registered in the Security Register. 

“Indebtedness” means, with respect to any Person, without duplication, any indebtedness of such Person, whether
or not contingent: (i) in respect of borrowed money; (ii) evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof); (iii) in respect of banker’s
acceptances; (iv) representing capital lease obligations; (v) in respect of any guarantee by such Person of production or payment with respect to a production payment recorded as a liability or deferred revenue in accordance with GAAP;
(vi) representing the balance deferred and unpaid of the purchase price of any property, except any such balance that constitutes an accrued expense or trade payable; or (vii) representing any hedging obligation, if and to the extent any
of the foregoing indebtedness (other than letters of credit and hedging obligations) would appear as a liability upon a balance sheet of such Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes
(x) all indebtedness of any other Person, of the types described above in clauses (i) through (vii), secured by a lien on any asset of such Person (whether or not such indebtedness is assumed by such Person), and (y) to the extent not
otherwise included, the guarantee by such Person of any indebtedness of any other Person of the types described above in clauses (i) through (vii). Notwithstanding the foregoing, the following shall not constitute “Indebtedness”:
(a) accrued expenses and trade accounts payable arising in the ordinary course of business; (b) any obligation in respect of any production payment recorded as a liability or deferred revenue in accordance with GAAP, or any obligation in
respect of any royalty, overriding royalty, net profits interest, master limited partnership interest or other interest in oil and natural gas properties, reserves or the right to receive all or a portion of the production or the proceeds from the
sale of production attributable to such properties; (c) any obligation in respect of a farm-in agreement; (d) any indebtedness which has been defeased in accordance with GAAP or defeased pursuant to the deposit of cash or government
securities (in an amount sufficient to satisfy all 

  
 4 

 
such indebtedness obligations at maturity or redemption, as applicable, and all payments of interest and premium, if any) in a trust or account created or pledged for the sole benefit of the
holders of such indebtedness, and subject to no other liens, and the other applicable terms of the instrument governing such indebtedness; (e) oil or gas balancing liabilities incurred in the ordinary course of business and consistent with past
practice; (f) any obligation in respect of any oil and natural gas hedging contract; (g) any obligations in respect of completion bonds, performance bonds, bid bonds, appeal bonds, surety bonds, bankers acceptances, letters of credit,
insurance obligations or bonds and other similar bonds and obligations incurred by the Company or any Subsidiary in the ordinary course of business and any guaranties or letters of credit functioning as or supporting any of the foregoing bonds or
obligations; (h) any obligation arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business (provided, however,
that such obligation is extinguished within five business days of its incurrence); (i) any obligation arising from any agreement providing for indemnities, guarantees, purchase price adjustments, holdbacks, contingency payment obligations based
on the performance of the acquired or disposed assets or similar obligations (other than guarantees of Indebtedness) incurred by any Person in connection with the acquisition or disposition of assets; and (j) obligations in respect of operating
agreements, joint venture agreements, partnership agreements, oil and gas leases, farm-in agreements, farm-out agreements, assignments, purchase and sale agreements, division orders, contracts for the sale, purchase, processing, transportation or
exchange of oil or natural gas, unitization and pooling declarations and agreements, development agreements, area of mutual interest agreements, royalties, joint interest billing arrangements, net profits interests, participation agreements,
subleases, licenses or subleases and other agreements similar to any of the foregoing that are customary in the oil and gas business. 
 “Indenture” means this instrument as originally executed and as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into
pursuant to the applicable provisions hereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust Indenture Act that are deemed to be a part of and govern this instrument and any such
supplemental indenture, respectively. The term “Indenture” shall also include the terms of particular series of Securities established as contemplated by Section 301. 

“Interest”, when used with respect to an Original Issue Discount Security which by its terms bears interest only
after Maturity, means interest payable after Maturity. 
 “Interest Payment Date”, when used with
respect to any Security, means the Stated Maturity of an installment of interest on such Security. 
 “Investment
Company Act” means the Investment Company Act of 1940 and any statute successor thereto, in each case as amended from time to time. 
 “Maturity”, when used with respect to any Security, means the date on which the principal of such Security or an installment of principal becomes due and payable as therein or
herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption or otherwise. 

  
 5 

 “Notice of Default” means a written notice of the kind specified in
Section 501(4). 
 “Officers’ Certificate” means a certificate signed by any two of the
following: a Chairman of the Board, a Vice Chairman of the Board, a President, a Vice President, a Treasurer, an Assistant Treasurer, a Secretary or an Assistant Secretary of the Company, or any other officer or officers of the Company designated in
a writing by or pursuant to authority of the Board of Directors and delivered to the Trustee from time to time. One of the officers signing an Officers’ Certificate given pursuant to Section 1004 shall be the principal executive, financial
or accounting officer of the Company. 
 “Opinion of Counsel” means a written opinion of counsel, who
may be counsel for the Company, and who shall be acceptable to the Trustee. 
 “Original Issue Discount
Security” means any Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502. 

“Outstanding”, when used with respect to Securities, means, as of the date of determination, all Securities
theretofore authenticated and delivered under this Indenture, except: 
 (1) Securities theretofore canceled by
the Trustee or delivered to the Trustee for cancellation; 
 (2) Securities for whose payment or redemption money
in the necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of
such Securities; provided that, if such Securities are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; 

(3) Securities as to which Defeasance has been effected pursuant to Section 1302; 

(4) Securities which have been paid pursuant to Section 306 or in exchange for or in lieu of which other Securities
have been authenticated and delivered pursuant to this Indenture, other than any such Securities in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Securities are held by a bona fide purchaser in
whose hands such Securities are valid obligations of the Company; and 
 (5) Securities as to which any property
deliverable upon conversion thereof has been delivered (or such delivery has been duly provided for), or as to which any other particular conditions have been satisfied, in each case as may be provided for such Securities as contemplated in
Section 301; 
 provided, however, that in determining whether the Holders of the requisite principal amount of the Outstanding
Securities have given, made or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder as of any date, (A) the principal amount of an Original Issue Discount Security which shall be deemed to be
Outstanding shall be 

  
 6 

 
the amount of the principal thereof which would be due and payable as of such date upon acceleration of the Maturity thereof to such date pursuant to Section 502, (B) if, as of such
date, the principal amount payable at the Stated Maturity of a Security is not determinable, the principal amount of such Security which shall be deemed to be Outstanding shall be the amount as specified or determined as contemplated by
Section 301, (C) the principal amount of a Security denominated in one or more foreign currencies, composite currencies or currency units which shall be deemed to be Outstanding shall be the U.S. dollar equivalent, determined as of such
date in the manner provided as contemplated by Section 301, of the principal amount of such Security (or, in the case of a Security described in Clause (A) or (B) above, of the amount determined as provided in such Clause), and
(D) Securities owned by the Company or any other obligor upon the Securities or any Affiliate of the Company or of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall
be protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver or other action, only Securities which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded. Securities so
owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Securities and that the pledgee is not the Company or
any other obligor upon the Securities or any Affiliate of the Company or of such other obligor. 
 “Paying
Agent” means any Person authorized by the Company to pay the principal of or any premium or interest on any Securities on behalf of the Company. 
 “Person” means any individual, corporation, partnership, joint venture, trust, unincorporated organization or government or any agency or political subdivision thereof. 

“Place of Payment”, when used with respect to the Securities of any series and subject to Section 1002,
means the place or places where the principal of and any premium and interest on the Securities of that series are payable as specified as contemplated by Section 301. 
 “Predecessor Security” of any particular Security means every previous Security evidencing all or a portion of the same debt as that evidenced by such particular Security; and, for
the purposes of this definition, any Security authenticated and delivered under Section 306 in exchange for or in lieu of a mutilated, destroyed, lost or wrongfully taken Security shall be deemed to evidence the same debt as the mutilated,
destroyed, lost or wrongfully taken Security. 
 “Redemption Date”, when used with respect to any
Security to be redeemed, means the date fixed for such redemption by or pursuant to this Indenture. 
 “Redemption
Price”, when used with respect to any Security to be redeemed, means the price at which it is to be redeemed pursuant to this Indenture. 
 “Regular Record Date” for the interest payable on any Interest Payment Date on the Securities of any series means the date specified for that purpose as contemplated by
Section 301. 
 “Responsible Officer”, when used with respect to the Trustee, means any vice
president, any assistant secretary, any assistant treasurer, any trust officer, any assistant trust officer or any 

  
 7 

 
other officer of the Trustee, in each case, located in the Corporate Trust Office of the Trustee, and also means, with respect to a particular corporate trust matter, any other officer to whom
such matter is referred because of his knowledge of and familiarity with the particular subject. 

“Securities” has the meaning stated in the first recital of this Indenture and more particularly means any
Securities authenticated and delivered under this Indenture. 
 “Securities Act” means the Securities
Act of 1933 and any statute successor thereto, in each case as amended from time to time. 
 “Security
Register” and “Security Registrar” have the respective meanings specified in Section 305. 
 “Senior Debt” means: (a) indebtedness of the Company under or in respect of the Credit Agreement, whether for principal, interest (including interest accruing after the filing
of a petition initiating any proceeding pursuant to any bankruptcy law, whether or not the claim for such interest is allowed as a claim in such proceeding), reimbursement obligations, fees, commissions, expenses, indemnities or other amounts; and
(b) any other Indebtedness permitted under the terms of this Indenture, unless the instrument under which such Indebtedness is incurred expressly provides that it is on a parity with or subordinated in right of payment to the Securities.
Notwithstanding the foregoing, “Senior Debt” will not include: (i) Equity Interests; (ii) any liability for federal, state, local or other taxes due or owed by the Company; (iii) any Indebtedness of the Company to any of its
Subsidiaries or Affiliates; (iv) any trade payables; or (v) any Indebtedness that is incurred in violation of this Indenture. 
 “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 307. 

“Stated Maturity”, when used with respect to any Security or any installment of principal thereof or interest
thereon, means the date specified in such Security as the fixed date on which the principal of such Security or such installment of principal or interest is due and payable. 
 “Subsidiary” means any Person a majority of the combined voting power of the total outstanding ownership interests in which is, at the time of determination, beneficially owned or
held, directly or indirectly, by the Company or one or more other Subsidiaries. For this purpose, “voting power” means power to vote in an ordinary election of directors (or, in the case of a Person that is not a corporation, ordinarily to
appoint or approve the appointment of Persons holding similar positions), whether at all times or only as long as no senior class of ownership interests has such voting power by reason of any contingency. 

“Trust Indenture Act” means the Trust Indenture Act of 1939 as in force at the date as of which this instrument
was executed; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “Trust Indenture Act” means, to the extent required by any such amendment, the Trust Indenture Act of 1939 as so amended.

 “Trustee” means the Person named as the “Trustee” in the first paragraph of this instrument
until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean or include each Person who is 

  
 8 

 
then a Trustee hereunder, and if at any time there is more than one such Person, “Trustee” as used with respect to the Securities of any series shall mean the Trustee with respect to
Securities of that series. 
 “U.S. Government Obligation” has the meaning specified in
Section 1304. 
 “Vice President”, when used with respect to the Company or the Trustee, means any
vice president, whether or not designated by a number or a word or words added before or after the title “vice president”. 
 SECTION 102. Compliance Certificates and Opinions. 
 Upon any application
or request by the Company to the Trustee to take any action under any provision of this Indenture, the Company shall furnish to the Trustee such certificates and opinions as may be required under the Trust Indenture Act; provided, however, that no
such opinion shall be required in connection with the issuance of Securities of any Series. Each such certificate or opinion shall be given in the form of an Officers’ Certificate, if to be given by an officer of the Company, or an Opinion of
Counsel, if to be given by counsel, and shall comply with the requirements of the Trust Indenture Act and any other requirements set forth in this Indenture. 
 Every certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture shall include: 

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

 (4) a statement as to whether, in the opinion of each such individual, such condition or covenant has been
complied with. 
 SECTION 103. Form of Documents Delivered to Trustee. 

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

  
 9 

 Any certificate or opinion of an officer of the Company may be based, insofar as it relates
to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon
which his certificate or opinion is based are erroneous. Any such certificate or opinion of, or representation by, counsel may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or
officers of the Company stating that the information with respect to such factual matters is in the possession of the Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or
representations with respect to such matters are erroneous. 
 Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other instruments under this Indenture, they may, but need not, be consolidated and form one instrument. 

SECTION 104. Acts of Holders; Record Dates. 
 Any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders may be embodied in and evidenced by one
or more instruments of substantially similar tenor signed by such Holders in person or by agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are
delivered to the Trustee and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders
signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Indenture and (subject to Section 601) conclusive in favor of the Trustee
and the Company, if made in the manner provided in this Section. 
 Without limiting the generality of this Section, unless
otherwise provided in or pursuant to this Indenture, (i) a Holder, including a Depositary or its nominee that is a Holder of a Global Security, may give, make or take, by an agent or agents duly appointed in writing, any request, demand,
authorization, direction, notice, consent, waiver or other action provided or permitted in or pursuant to this Indenture to be given, made or taken by Holders, and a Depositary or its nominee that is a Holder of a Global Security may duly appoint in
writing as its agent or agents members of, or participants in, such Depositary holding interests in such Global Security in the records of such Depositary; and (ii) with respect to any Global Security the Depositary for which is The Depository
Trust Company (“DTC”), any consent or other action given, made or taken by an “agent member” of DTC by electronic means in accordance with the Automated Tender Offer Procedures system or other Applicable Procedures
of, and pursuant to authorization by, DTC shall be deemed to constitute the “Act” of the Holder of such Global Security, and such Act shall be deemed to have been delivered to the Company and the Trustee upon the delivery by DTC of an
“agent’s message or other notice of such consent or other action having been so given, made or taken in accordance with the Applicable Procedures of DTC. 
 The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such execution or by a certificate of a notary public or

  
 10 

 
other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution
is by a signer acting in a capacity other than his individual capacity, such certificate or affidavit shall also constitute sufficient proof of his authority. The fact and date of the execution of any such instrument or writing, or the authority of
the Person executing the same, may also be proved in any other manner which the Trustee deems sufficient. 
 The ownership of
Securities shall be proved by the Security Register. 
 Any request, demand, authorization, direction, notice, consent, waiver
or other Act of the Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done,
omitted or suffered to be done by the Trustee or the Company in reliance thereon, whether or not notation of such action is made upon such Security. 
 The Company may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled to give, make or take any request, demand, authorization,
direction, notice, consent, waiver or other action provided or permitted by this Indenture to be given, made or taken by Holders of Securities of such series, provided that the Company may not set a record date for, and the provisions of this
paragraph shall not apply with respect to, the giving, making or taking of any notice, declaration, request or direction referred to in the next paragraph. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities
of the relevant series on such record date, and no other Holders, shall be entitled to give, make or take the relevant action, whether or not such Holders remain Holders after such record date; provided, however, that no such action
shall be effective hereunder unless given, made or taken on or prior to the applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be
construed to prevent the Company from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person
be canceled and of no effect), and nothing in this paragraph shall be construed to render ineffective any action given, made or taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such
action is given, made or taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given
to the Trustee in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 106. 

The Trustee may set any day as a record date for the purpose of determining the Holders of Outstanding Securities of any series entitled
to join in the giving, making or taking of (i) any Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii) any request to institute proceedings referred to in Section 507(2) or (iv) any
direction referred to in Section 512, in each case with respect to Securities of such series. If any record date is set pursuant to this paragraph, the Holders of Outstanding Securities of such series on such record date, and no other Holders,
shall be entitled to give, make or take such notice, declaration, request or direction, whether or not such Holders remain Holders after such record date; provided, however, that no such action shall be effective hereunder unless
given, made or taken on or prior to the 

  
 11 

 
applicable Expiration Date by Holders of the requisite principal amount of Outstanding Securities of such series on such record date. Nothing in this paragraph shall be construed to prevent the
Trustee from setting a new record date for any action for which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be canceled and of no
effect), and nothing in this paragraph shall be construed to render ineffective any action given, made or taken by Holders of the requisite principal amount of Outstanding Securities of the relevant series on the date such action is given, made or
taken. Promptly after any record date is set pursuant to this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Company
in writing and to each Holder of Securities of the relevant series in the manner set forth in Section 106. 
 With respect
to any record date set pursuant to this Section, the party hereto which sets such record date may designate any day as the “Expiration Date” and from time to time may change the Expiration Date to any earlier or later day; provided that no
such change shall be effective unless notice of the proposed new Expiration Date is given to the other party hereto in writing, and to each Holder of Securities of the relevant series in the manner set forth in Section 106, on or prior to the
existing Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section, the party hereto which set such record date shall be deemed to have initially designated the 180th day after such record
date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date to an earlier day as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be later than the 180th day after the
applicable record date. 
 Without limiting the foregoing, a Holder entitled hereunder to give, make or take any action
hereunder with regard to any particular Security may do so, in person or by agent duly appointed in writing, with regard to all or any part of the principal amount of such Security. 

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

SECTION 106. Notice to Holders; Waiver. 
 Where this Indenture provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage
prepaid, to each Holder affected by such event, at his address as it appears in the Security Register, not later than the latest date (if any), and not earlier than the earliest date (if 

  
 12 

 
any), prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any
particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Indenture provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or
after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Trustee, but such filing shall not be a condition precedent to the validity of any action taken in reliance upon such
waiver. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable
to give such notice by mail, then such notification as shall be made with the approval of the Trustee shall constitute a sufficient notification for every purpose hereunder. 
 Where this Indenture provides for Notice of any event to a Holder of a Global Security, such notice shall be sufficiently given if given to the Depositary for such Security (or its designee), pursuant to
its Applicable Procedures, not later than the latest date (if any), and not earlier than the earliest date (if any), prescribed for the giving of such notice. 
 SECTION 107. Conflict with Trust Indenture Act. 
 If any provision hereof
limits, qualifies or conflicts with a provision of the Trust Indenture Act which is required under such Act to be a part of and govern this Indenture, the latter provision shall control. If any provision of this Indenture modifies or excludes any
provision of the Trust Indenture Act which may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified or to be excluded, as the case may be. 

SECTION 108. Effect of Headings and Table of Contents. 
 The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

SECTION 109. Successors and Assigns. 
 All covenants and agreements in this Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
 SECTION 110. Separability Clause. 
 In case any provision in this Indenture
or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 111. Benefits of Indenture. 
 Nothing in this Indenture or in the Securities, express or implied, shall give to any Person, other than the parties hereto and their successors hereunder, the holders of Senior Debt and the Holders, any
benefit or any legal or equitable right, remedy or claim under this 

  
 13 

 
Indenture, except as may otherwise be provided pursuant to Section 301 with respect to any Securities of a particular series or under this Indenture with respect to such Securities.

 SECTION 112. Governing Law. 
 This Indenture and the Securities and the rights and obligations of the parties hereto and thereto, including the interpretation, construction, validity and enforceability thereof, shall be governed by
and construed and interpreted in accordance with the law of the State of New York. 
 SECTION 113. Legal Holidays.

 In any case where any Interest Payment Date, Redemption Date or Maturity of any Security, or any date on which a Holder
has the right to convert his Security, shall not be a Business Day at any Place of Payment, then (notwithstanding any other provision of this Indenture or of the Securities (other than a provision of any Security which specifically states that such
provision shall apply in lieu of this Section)) payment of interest or principal (and premium, if any), or conversion of such Security need not be made at such Place of Payment on such date, but may be made on the next succeeding Business Day at
such Place of Payment with the same force and effect as if made on the Interest Payment Date or Redemption Date, or at the Maturity, or on such date for conversion, as the case may be. 

SECTION 114. No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret any other indenture, loan or other agreement of the Company or its Subsidiaries or of any
other Person. Any such indenture, loan or other agreement may not be used to interpret this Indenture. 
 SECTION 115. No
Personal Liability of Directors, Officers, Employees and Stockholders. 
 No past, present or future director, officer,
employee, incorporator or stockholder of the Company, as such, will have any liability for any obligations of the Company under the Securities or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their
creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. The waiver may not be effective to waive liabilities under the
federal securities laws. 
 SECTION 116. Language of Notices, Etc. 

Any request, demand, authorization, direction, notice, consent, waiver, other action or Act provided or permitted under this Indenture
shall be in the English language, except that any published notice may be in an official language of the country of publication. 

  
 14 

 ARTICLE II 
 SECURITY FORMS 
 SECTION 201. Forms Generally. 

The Securities of each series shall be in substantially the form set forth in this Article, or in such other form as shall be established
by or pursuant to a Board Resolution or in one or more indentures supplemental hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Indenture, and may have such
letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or Depositary therefor or as may, consistently herewith, be determined by the
officers executing such Securities, as evidenced by their execution thereof. If the form of Securities of any series is established by action taken pursuant to a Board Resolution, a copy of an appropriate record of such action shall be certified by
the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Company Order contemplated by Section 303 for the authentication and delivery of such Securities. 

The definitive Securities shall be printed, lithographed or engraved on steel engraved borders or may be produced in any other manner,
all as determined by the officers executing such Securities, as evidenced by their execution of such Securities. 
 SECTION
202. Form of Face of Security. 
 [Insert any legend required by the Internal Revenue Code and the regulations thereunder.]

 GULFPORT ENERGY CORPORATION 
 ..................................... 
 No
............. $ ............... 
 Gulfport Energy Corporation, a corporation duly organized and existing under the
laws of the State of Delaware (herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to
..................................... , or registered assigns, the principal sum of .................. ................... Dollars on
..................................... [if the Security is to bear interest prior to Maturity, insert — , and to pay interest thereon from ............ or from the most recent
Interest Payment Date to which interest has been paid or duly provided for, semi-annually on..................... and ......... in each year, commencing
........................, and at the Maturity .............................. thereof, at the rate of ..................% per annum, until the principal
hereof is paid or made available for payment [if applicable, insert — , provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at the
........................ rate of ... % per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for
payment, and such interest shall be payable on demand]. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be the ............ or ............ (whether or not a Business Day), as the case may
be, next preceding such Interest Payment Date. Any such interest so payable, but not punctually paid or duly provided for, on any Interest Payment Date will forthwith cease to be payable to the

  
 15 

 
Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid in any other lawful manner
not inconsistent with the requirements of any securities exchange on which this Security may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture]. 

[If the Security is not to bear interest prior to Maturity, insert — The principal of this Security shall not bear interest except
in the case of a default in payment of principal upon acceleration, upon redemption or at Stated Maturity and in such case the overdue principal and any overdue premium shall bear interest at the rate of . . . . % per annum (to the extent that the
payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment. Interest on any overdue principal or premium shall be payable on demand.] 

Payment of the principal of (and premium, if any) and [if applicable, insert — any such) interest on this Security will be made at
the office or agency of the Company maintained for that purpose in New York, New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, against surrender of
this Security in the case of any payment due at the Maturity of the principal thereof (other than any payment of interest that first becomes payable on a day other than an Interest Payment Date); provided, however, that at the option of the
Company, payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register; and provided, further, that if this Security is a Global Security, payment may be made
pursuant to the Applicable Procedures of the Depositary as permitted in said Indenture. 
 Reference is hereby made to the
further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose. 
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal. 
  

			
	GULFPORT ENERGY CORPORATION
		
	By:	 	 
		 	 Name:

Title:

 Attest: 

  
 16 

 SECTION 203. Form of Reverse of Security. 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”),
issued and to be issued in one or more series under a Subordinated Debt Indenture, dated as of                      (herein called the
“Indenture”, which term shall have the meaning assigned to it in such instrument), between the Company and [Trustee], as Trustee (herein called the “Trustee”, which term includes any successor trustee
under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee, the holders of Senior Debt and the Holders of the
Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof [if applicable, insert —, limited in aggregate principal amount to
$.......... 
 [If applicable, insert — The Securities of this series are subject to redemption upon not
less than 30 days’ nor more than 60 days’ notice, at any time [if applicable, insert — on or after ............, 20. .], as a whole or in part, at the election of the Company, at the following Redemption
Prices (expressed as percentages of the principal amount): If redeemed [if applicable, insert — on or before ............ %, and if redeemed] during the 12-month period beginning ......... of the years
indicated, 
  

			
	 Year
	  	Redemption
Price

 and thereafter at a Redemption Price equal to         % of the principal amount, together in the case of any such redemption with accrued interest to the Redemption
Date, but interest installments whose Stated Maturity is on or prior to such Redemption Date will be payable to the Holders of such Securities, or one or more Predecessor Securities, of record at the close of business on the relevant Record Dates
referred to on the face hereof, all as provided in the Indenture.] 
 [If the Security is subject to redemption of any kind,
insert — In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof.]

 The indebtedness evidenced by this Security is, to the extent provided in the Indenture, subordinate and subject in right of
payment to the prior payment in full of all Senior Debt, and this Security is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this Security, by accepting the same, (a) agrees to and shall be bound by such
provisions, (b) authorizes and directs the Trustee on his or her behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided and (c) appoints the Trustee his or her attorney-in-fact for any
and all such purposes. Each Holder hereof, by his or her acceptance hereof, waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture by each holder of Senior Debt, whether now outstanding or hereafter
created, incurred, assumed or guaranteed, and waives reliance by each such holder upon said provisions. 
 [If applicable,
insert — The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain
conditions set forth in the Indenture.] 

  
 17 

 [If the Security is not an Original Issue Discount Security, insert — If an Event of
Default with respect to Securities of this series shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture.] 

[If the Security is an Original Issue Discount Security, insert — If an Event of Default with respect to Securities of this series
shall occur and be continuing, an amount of principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. Such amount shall be equal to — insert formula for determining
the amount. Upon payment (i) of the amount of principal so declared due and payable and (ii) of interest on any overdue principal, premium and interest (in each case to the extent that the payment of such interest shall be legally
enforceable), all of the Company’s obligations in respect of the payment of the principal of and premium and interest, if any, on the Securities of this series shall terminate.] 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities at the time Outstanding of all series to be affected (considered together as one class for this purpose). The Indenture also contains provisions (i) permitting the Holders of a majority in principal amount of the Securities at the
time Outstanding of all series to be affected under the Indenture (considered together as one class for this purpose), on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the
Indenture and (ii) permitting the Holders of a majority in principal amount of the Securities at the time Outstanding of any series to be affected under the Indenture (with each such series considered separately for this purpose), on behalf of
the Holders of all Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any
proceeding with respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default
as Trustee and offered the Trustee indemnity reasonably satisfactory to it, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with
such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any 

  
 18 

 
suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein.

 No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the
obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

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

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue,
and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This Security is a
Global Security and is subject to the provisions of the Indenture relating to Global Securities, including the limitations in Section 305 thereof on transfers and exchanges of Global Securities. 

This Security and the Indenture shall be governed by and construed in accordance with the laws of the State of New York. 

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

  
 19 

 SECTION 204. Form of Legend for Global Securities. 

Unless otherwise specified as contemplated by Section 301 for the Securities evidenced thereby, every Global Security authenticated
and delivered hereunder shall bear a legend in substantially the following form: 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN
THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR
IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 SECTION 205. Form of Trustee’s Certificate of Authentication. 
 The
Trustee’s certificates of authentication shall be in substantially the following form: 
 This is one of the Securities of
the series designated herein and referred to in the within-mentioned Indenture. 
  

									
		 		 	[TRUSTEE], AS TRUSTEE
	Dated:	 		 	
					
		 		 		 	By:	 	 
		 		 		 		 	Authorized Signatory

 ARTICLE III 
 THE SECURITIES 
 SECTION 301. Amount Unlimited; Issuable in Series.

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

 The Securities may be issued in one or more series. There shall be established in or pursuant to a Board Resolution and,
subject to Section 303, set forth, or determined in the manner provided, in an Officers’ Certificate, or established in one or more indentures supplemental hereto, prior to the issuance of Securities of any series, 

(1) the title of the Securities of the series (which shall distinguish the Securities of the series from Securities of any
other series); 
 (2) any limit upon the aggregate principal amount of the Securities of the series which may be
authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the series pursuant to Section 304, 305, 306, 906 or
1107 and except for any Securities which, pursuant to Section 303, are deemed never to have been authenticated and delivered hereunder); 
 (3) the Person to whom any interest on a Security of the series shall be payable, if other than the Person in whose name that Security (or one or more

  
 20 

 
Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; 

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

(5) the rate or rates at which any Securities of the series shall bear interest, if any, the date or dates from which any
such interest shall accrue, the Interest Payment Dates on which any such interest shall be payable and the Regular Record Date for any such interest payable on any Interest Payment Date; 

(6) the place or places where the principal of and any premium and interest on any Securities of the series shall be
payable and the manner in which any payment may be made; 
 (7) the period or periods within which, the price or
prices at which and the terms and conditions upon which any Securities of the series may be redeemed, in whole or in part, at the option of the Company and, if other than by a Board Resolution, the manner in which any election by the Company to
redeem the Securities shall be evidenced; 
 (8) the obligation, if any, of the Company to redeem or purchase any
Securities of the series pursuant to any sinking fund or analogous provisions or at the option of the Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which any Securities of the
series shall be redeemed or purchased, in whole or in part, pursuant to such obligation; 
 (9) if other than
denominations of $1,000 and any multiple thereof, the denominations in which any Securities of the series shall be issuable; 
 (10) if the amount of principal of or any premium or interest on any Securities of the series may be determined with reference to an index or pursuant to a formula, the manner in which such amounts shall
be determined; 
 (11) if other than the currency of the United States of America, the currency, currencies,
composite currency, composite currencies or currency units in which the principal of or any premium or interest on any Securities of the series shall be payable and the manner of determining the equivalent thereof in the currency of the United
States of America for any purpose, including for the purposes of making payment in the currency of the United States of America and applying the definition of “Outstanding” in Section 101; 

(12) if the principal of or any premium or interest on any Securities of the series is to be payable, at the election of
the Company or the Holder thereof, in one or more currencies, composite currencies or currency units other than that or those in which such Securities are stated to be payable, the currency, currencies, composite currency, composite currencies or
currency units in which the principal of or any premium or interest on such Securities as to which such election is made shall be payable, the periods 

  
 21 

 
within which and the terms and conditions upon which such election is to be made and the amount so payable (or the manner in which such amount shall be determined); 

(13) if other than the entire principal amount thereof, the portion of the principal amount of any Securities of the
series which shall be payable upon declaration of acceleration of the Maturity thereof pursuant to Section 502; 
 (14) if the principal amount payable at the Stated Maturity of any Securities of the series will not be determinable as of any one or more dates prior to the Stated Maturity, the amount which shall be
deemed to be the principal amount of such Securities as of any such date for any purpose thereunder or hereunder, including the principal amount thereof which shall be due and payable upon any Maturity other than the Stated Maturity or which shall
be deemed to be Outstanding as of any date prior to the Stated Maturity (or, in any such case, the manner in which such amount deemed to be the principal amount shall be determined); 

(15) if applicable, that the Securities of the series, in whole or any specified part, shall be defeasible pursuant to
Section 1302 or Section 1303 or both such Sections, any provisions to permit a pledge of obligations other than U.S. Government Obligations (or the establishment of other arrangements) to satisfy the requirements of Section 1304(1)
for defeasance of such Securities and, if other than by a Board Resolution, the manner in which any election by the Company to defease such Securities shall be evidenced; 

(16) if applicable, that any Securities of the series shall be issuable in whole or in part in the form of one or more
Global Securities and, in such case, the respective Depositaries for such Global Securities, the form of any legend or legends which shall be borne by any such Global Security in addition to or in lieu of that set forth in Section 204, any
addition to, elimination of or other change in the circumstances set forth in Clause (2) of the last paragraph of Section 305 in which any such Global Security may be exchanged in whole or in part for Securities registered, and any
transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the Depositary for such Global Security or a nominee thereof and any other provisions governing exchanges or transfers of any such
Global Security; 
 (17) any addition to, elimination of or other change in the Events of Default which applies
to any Securities of the series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 502; 

(18) any addition to, elimination of or other change in the covenants set forth in Article X which applies to Securities
of the series; 
 (19) any provisions necessary to permit or facilitate the issuance, payment or conversion of
any Securities of the series that may be converted into securities or other property other than Securities of the same series and of like tenor, whether in addition to, 

  
 22 

 
or in lieu of, any payment of principal or other amount and whether at the option of the Company or otherwise; 

(20) if applicable, that Persons other than those specified in Section 111 shall have such benefits, rights, remedies
and claims with respect to any Securities of the series or under this Indenture with respect to such Securities, as and to the extent provided for such Securities; and 

(21) any other terms of the series (which terms shall not be inconsistent with the provisions of this Indenture, except as
permitted by Section 901(5)). 
 All Securities of any one series shall be substantially identical except as to
denomination and except as may otherwise be provided in or pursuant to the Board Resolution referred to above and (subject to Section 303) set forth, or determined in the manner provided, in the Officers’ Certificate referred to above or
in any such indenture supplemental hereto. 
 If any of the terms of the series are established by action taken pursuant to a
Board Resolution, a copy of an appropriate record of such action shall be certified by the Secretary or an Assistant Secretary of the Company and delivered to the Trustee at or prior to the delivery of the Officers’ Certificate setting forth
the terms of the series. 
 The Securities shall be subordinated in right of payment to Senior Debt as provided in Article XIV.

 SECTION 302. Denominations. 
 The Securities of each series shall be issuable only in registered form without coupons and only in such denominations as shall be specified as contemplated by Section 301. In the absence of any such
specified denomination with respect to the Securities of any series, the Securities of such series shall be issuable in denominations of $1,000 and any multiple thereof. 
 SECTION 303. Execution, Authentication, Delivery and Dating. 
 The
Securities shall be executed on behalf of the Company by a Chairman of the Board, a Vice Chairman of the Board, a President or a Vice President of the Company (or any other officer of the Company designated in writing by or pursuant to authority of
the Board of Directors and delivered to the Trustee from time to time), under its corporate seal reproduced thereon attested by a Secretary or Assistant Secretary of the Company. The signature of any of these officers on the Securities may be manual
or facsimile. 
 Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers
of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities.

 At any time and from time to time after the execution and delivery of this Indenture, the Company may deliver Securities of
any series executed by the Company to the Trustee for authentication, together with a Company Order for the authentication and delivery of such 

  
 23 

 
Securities, and the Trustee in accordance with the Company Order shall authenticate and deliver such Securities. If the form or terms of the Securities of the series have been established by or
pursuant to one or more Board Resolutions as permitted by Sections 201 and 301, in authenticating such Securities, and accepting the additional responsibilities under this Indenture in relation to such Securities, the Trustee shall be entitled to
receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating, 
 (1) if the form of such Securities has been established by or pursuant to Board Resolution as permitted by Section 201, that such form has been established in conformity with the provisions of this
Indenture; 
 (2) if the terms of such Securities have been established by or pursuant to Board Resolution as
permitted by Section 301, that such terms have been established in conformity with the provisions of this Indenture; and 
 (3) that such Securities, when authenticated and delivered by the Trustee and issued by the Company in the manner and subject to any conditions specified in such Opinion of Counsel, will constitute valid
and legally binding obligations of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting
creditors’ rights and to general equity principles. 
 If such form or terms have been so established, the Trustee shall
not be required to authenticate such Securities if the issue of such Securities pursuant to this Indenture will affect the Trustee’s own rights, duties or immunities under the Securities and this Indenture or otherwise in a manner which is not
reasonably acceptable to the Trustee. 
 Notwithstanding the provisions of Section 301 and of the preceding paragraph, if
all Securities of a series are not to be originally issued at one time, it shall not be necessary to deliver the Officers’ Certificate otherwise required pursuant to Section 301 or the Company Order and Opinion of Counsel otherwise
required pursuant to such preceding paragraph at or prior to the authentication of each Security of such series if such documents are delivered at or prior to the authentication upon original issuance of the first Security of such series to be
issued. 
 Each Security shall be dated the date of its authentication. 

No Security shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such
Security a certificate of authentication substantially in the form provided for herein executed by the Trustee by manual signature, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has
been duly authenticated and delivered hereunder. Notwithstanding the foregoing, if any Security shall have been authenticated and delivered hereunder but never issued and sold by the Company, and the Company shall deliver such Security to the
Trustee for cancellation as provided in Section 309, for all purposes of this Indenture such Security shall be deemed never to have been authenticated and delivered hereunder and shall never be entitled to the benefits of this Indenture.

  
 24 

 SECTION 304. Temporary Securities. 

Pending the preparation of definitive Securities of any series, the Company may execute, and upon Company Order the Trustee shall
authenticate and deliver, temporary Securities which are printed, lithographed, typewritten, mimeographed or otherwise produced, in any authorized denomination, substantially of the tenor of the definitive Securities in lieu of which they are issued
and with such appropriate insertions, omissions, substitutions and other variations as the officers executing such Securities may determine, as evidenced by their execution of such Securities. 

If temporary Securities of any series are issued, the Company will cause definitive Securities of that series to be prepared without
unreasonable delay. After the preparation of definitive Securities of such series, the temporary Securities of such series shall be exchangeable for definitive Securities of such series upon surrender of the temporary Securities of such series at
the office or agency of the Company in a Place of Payment for that series, without charge to the Holder. Upon surrender for cancellation of any one or more temporary Securities of any series, the Company shall execute and the Trustee shall
authenticate and deliver in exchange therefor one or more definitive Securities of the same series, of any authorized denominations and of like tenor and aggregate principal amount. Until so exchanged, the temporary Securities of any series shall in
all respects be entitled to the same benefits under this Indenture as definitive Securities of such series and tenor. 

SECTION 305. Registration, Registration of Transfer and Exchange. 

The Company shall cause to be kept at the Corporate Trust Office of the Trustee a register (the register maintained in such office and in
any other office or agency of the Company in a Place of Payment being herein sometimes collectively referred to as the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Company
shall provide for the registration of Securities and of transfers of Securities. The Trustee is hereby appointed “Security Registrar” for the purpose of registering Securities and transfers of Securities as herein provided. 

Upon surrender for registration of transfer of any Security of a series at the office or agency of the Company in a Place of Payment for
that series, the Company shall execute, and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Securities of the same series, of any authorized denominations and of like tenor and
aggregate principal amount. 
 At the option of the Holder, Securities of any series may be exchanged for other Securities of
the same series, of any authorized denominations and of like tenor and aggregate principal amount, upon surrender of the Securities to be exchanged at such office or agency. Whenever any Securities are so surrendered for exchange, the Company shall
execute, and the Trustee shall authenticate and deliver, the Securities which the Holder making the exchange is entitled to receive. 

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

Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Trustee)
be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed, by the Holder therefor or his attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Securities, other than exchanges pursuant to Section 304, 906 or 1107 not involving any transfer.

 If the Securities of any series (or of any series and specified tenor) are to be redeemed in part, the Company shall not be
required (A) to issue, register the transfer of or exchange any Securities of that series (or of that series and specified tenor, as the case may be) during a period beginning at the opening of business 15 days before the day of the mailing of
a notice of redemption of any such Securities selected for redemption under Section 1103 and ending at the close of business on the day of such mailing, or (B) to register the transfer of or exchange any Security so selected for redemption
in whole or in part, except the unredeemed portion of any Security being redeemed in part. 
 The provisions of Clauses (1),
(2), (3) and (4) below shall apply only to Global Securities: 
 (1) Each Global Security authenticated
under this Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof custodian therefor, and each such Global Security shall constitute
a single Security for all purposes of this Indenture. 
 (2) Notwithstanding any other provision in this
Indenture, and subject to such applicable provisions, if any, as may be specified as contemplated by Section 301, no Global Security may be exchanged in whole or in part for Securities registered, and no transfer of a Global Security in whole
or in part may be registered, in the name of any Person other than the Depositary for such Global Security or a nominee thereof unless (A) such Depositary has notified the Company that it (i) is unwilling or unable to continue as
Depositary for such Global Security or (ii) has ceased to be a clearing agency registered under the Exchange Act, (B) there shall have occurred and be continuing an Event of Default with respect to such Global Security or (C) the
Company has executed and delivered to the Trustee a Company Order stating that such Global Security shall be exchanged in whole for Securities that are not Global Securities (in which case such exchange shall promptly be effected by the Trustee). If
the Company receives a notice of the kind specified in Clause (A) above or has delivered a Company Order of the kind specified in Clause (C) above, it may, in its sole discretion, designate a successor Depositary for such Global Security
within 60 days after receiving such notice or 

  
 26 

 
delivery of such order, as the case may be. If the Company designates a successor Depositary as aforesaid, such Global Security shall promptly be exchanged in whole for one or more other Global
Securities registered in the name of the successor Depositary, whereupon such designated successor shall be the Depositary for such successor Global Security or Global Securities and the provisions of Clauses (1), (2), (3) and (4) of this
Section shall continue to apply thereto. 
 (3) Subject to Clause (2) above and to such applicable
provisions, if any, as may be specified as contemplated by Section 301, any exchange of a Global Security for other Securities may be made in whole or in part, and all Securities issued in exchange for a Global Security or any portion thereof
shall be registered in such names as the Depositary for such Global Security shall direct. 
 (4) Every Security
authenticated and delivered upon registration of transfer of, or in exchange for or in lieu of, a Global Security or any portion thereof, whether pursuant to this Section, Section 304, 306, 906 or 1107 or otherwise, shall be authenticated and
delivered in the form of, and shall be, a Global Security, unless such Security is registered in the name of a Person other than the Depositary for such Global Security or a nominee thereof. 

SECTION 306. Mutilated, Destroyed, Lost and Wrongfully Taken Securities. 

If (a) any mutilated Security is surrendered to the Trustee or (b) both (i) there shall be delivered to the Company and
the Trustee (A) a claim by a Holder as to the destruction, loss or wrongful taking of any Security of such Holder and a request thereby for a new replacement Security of the same series, and (B) such indemnity bond as may be required by
them to save each of them and any agent of either of them harmless and (ii) such other reasonable requirements as may be imposed by the Company as permitted by Section 8-405 of the Uniform Commercial Code have been satisfied, then, in the
absence of notice to the Company or the Trustee that such Security has been acquired by a “protected purchaser” within the meaning of Section 8-405 of the Uniform Commercial Code, the Company shall execute and upon its request the
Trustee shall authenticate and deliver, in lieu of any such mutilated, destroyed, lost or wrongfully taken Security, a new Security of the same series and of like tenor and principal amount and bearing a number not contemporaneously Outstanding.

 In case any such mutilated, destroyed, lost or wrongfully taken Security has become or is about to become due and payable,
the Company in its discretion may, instead of issuing a new Security, pay such Security. 
 Upon the issuance of any new
Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee)
connected therewith. 
 Every new Security of any series issued pursuant to this Section in lieu of any destroyed, lost or
wrongfully taken Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or wrongfully taken Security shall be at any 

  
 27 

 
time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that series duly issued hereunder.

 The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with
respect to the replacement or payment of mutilated, destroyed, lost or wrongfully taken Securities. 
 SECTION 307. Payment
of Interest; Interest Rights Preserved. 
 Except as otherwise provided as contemplated by Section 301 with respect to
any Securities of a series, interest on any Security which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such interest (or, if no business is conducted by the Trustee at its Corporate Trust Office on such date, at 5:00 P.M. New York City time on such date). 

Any interest on any Security of any series which is payable, but is not punctually paid or duly provided for, on any Interest Payment
Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular 
 Record Date by virtue of having been such Holder, and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in Clause (1) or (2) below: 

(1) The Company may elect to make payment of any Defaulted Interest payable on any Securities of a series to the Persons
in whose names such Securities (or their respective Predecessor Securities) are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall
notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each of such Securities and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money equal to the
aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be held in trust for the
benefit of the Persons entitled to such Defaulted Interest as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days
prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special Record Date and, in the name and at the expense
of the Company, shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be given to each Holder of such Securities in the manner set forth in Section 106, not less than 10 days prior to such
Special Record Date. Notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor having been so mailed, such Defaulted Interest shall be paid to the Persons in whose names such Securities (or their respective
Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the following Clause (2). 

  
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 (2) The Company may make payment of any Defaulted Interest on any Securities
of a series in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Securities may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the
Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 

Except as may otherwise be provided in this Section 307 or as contemplated in Section 301 with respect to any Securities of a
series, the Person to whom interest shall be payable on any Security that first becomes payable on a day that is not an Interest Payment Date shall be the Holder of such Security on the day such interest is paid. 

Subject to the foregoing provisions of this Section, each Security delivered under this Indenture upon registration of transfer of or in
exchange for or in lieu of any other 
 Security shall carry the rights to interest accrued and unpaid, and to accrue, which
were carried by such other Security. 
 In the case of any Security which is converted after any Regular Record Date and on or
prior to the next succeeding Interest Payment Date (other than any Security whose Maturity is prior to such Interest Payment Date), interest whose Stated Maturity is on such Interest Payment Date shall be payable on such Interest Payment Date
notwithstanding such conversion, and such interest (whether or not punctually paid or duly provided for) shall be paid to the Person in whose name that Security (or one or more Predecessor Securities) is registered at the close of business on such
Regular Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Security which is converted, interest whose Stated Maturity is after the date of conversion of such Security shall not be payable.
Notwithstanding the foregoing, the terms of any Security that may be converted may provide that the provisions of this paragraph do not apply, or apply with such additions, changes or omissions as may be provided thereby, to such Security.

 SECTION 308. Persons Deemed Owners. 
 Prior to due presentment of a Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name such Security is registered as
the owner of such Security for the purpose of receiving payment of principal of and any premium and (subject to Section 307) any interest on such Security and for all other purposes whatsoever, whether or not such Security be overdue, and
neither the Company, the Trustee nor any agent of the Company or the Trustee shall be affected by notice to the contrary. 

SECTION 309. Cancellation. 
 All Securities surrendered for payment, redemption, registration of transfer or exchange or conversion or for credit against any sinking fund payment shall, if surrendered to any Person other than the
Trustee, be delivered to the Trustee and shall be promptly canceled by it. The Company may at any time deliver to the Trustee for cancellation any Securities previously authenticated and delivered hereunder which the Company may have acquired in any
manner 

  
 29 

 
whatsoever, and may deliver to the Trustee (or to any other Person for delivery to the Trustee) for cancellation any Securities previously authenticated hereunder which the Company has not issued
and sold, and all Securities so delivered shall be promptly canceled by the Trustee. No Securities shall be authenticated in lieu of or in exchange for any Securities canceled as provided in this Section, except as expressly permitted by this
Indenture. All canceled Securities held by the Trustee shall be disposed of as directed by a Company Order; provided, however, that the Trustee shall not be required to destroy such canceled Securities. 

SECTION 310. Computation of Interest. 
 Except as otherwise specified as contemplated by Section 301 for Securities of any series, interest on the Securities of each series shall be computed on the basis of a 360-day year of twelve 30-day
months. 
 SECTION 311. CUSIP Numbers. 
 The Company in issuing the Securities may use CUSIP numbers (if then generally in use) and, if so, the Trustee shall use CUSIP numbers in notices of redemption as a convenience to Holders, provided that
any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of redemption and that reliance may be placed only on the other identification numbers
printed on the Securities. Any such redemption shall not be affected by any defect in or omission of such numbers. 
 ARTICLE
IV 
 SATISFACTION AND DISCHARGE 
 SECTION 401. Satisfaction and Discharge of Indenture. 
 This Indenture
shall upon Company Request cease to be of further effect (except as to any surviving rights of conversion, registration of transfer or exchange of any Security expressly provided for herein or in the terms of such Security), and the Trustee, at the
expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 
 (1) either 
 (A) all Securities theretofore authenticated and
delivered (other than (i) Securities which have been destroyed, lost or wrongfully taken and which have been replaced or paid as provided in Section 306 and (ii) Securities for whose payment money has theretofore been deposited in
trust or segregated and held in trust by the Company and thereafter repaid to the Company or discharged from such trust, as provided in Section 1003) have been delivered to the Trustee for cancellation; or 

(B) all such Securities not theretofore delivered to the Trustee for cancellation 

(i) have become due and payable, or 

  
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 (ii) will become due and payable at their Stated Maturity within one year,
or 
 (iii) are to be called for redemption within one year under arrangements satisfactory to the Trustee for
the giving of notice of redemption by the Trustee in the name, and at the expense, of the Company, 
 and the Company, in the
case of (i), (ii) or (iii) above, has deposited or caused to be deposited with the Trustee as trust funds in trust for the purpose money in an amount sufficient to pay and discharge the entire indebtedness on such Securities not
theretofore delivered to the Trustee for cancellation, for principal and any premium and interest to the date of such deposit (in the case of Securities which have become due and payable) or to the Stated Maturity or Redemption Date, as the case may
be; 
 (2) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and

 (3) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 
 Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under Section 607 and, if money shall have been deposited with the Trustee pursuant to
subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 402 and the last paragraph of Section 1003 shall survive. 
 SECTION 402. Application of Trust Money. 
 Subject to the provisions of the
last paragraph of Section 1003, all money deposited with the Trustee pursuant to Section 401 shall be held in trust and applied by it, in accordance with the provisions of the Securities and this Indenture, to the payment, either directly
or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal and any premium and interest for whose payment such money has been deposited with the
Trustee. All moneys deposited with the Trustee pursuant to Section 401 (and held by it or any Paying Agent) for the payment of Securities subsequently converted shall be returned to the Company upon Company Request. 

ARTICLE V 

REMEDIES 

SECTION 501. Events of Default. 
 “Event of Default”, wherever used herein with respect to Securities of any series, means any one of the following events (whatever the reason for such Event of Default and whether
it shall be occasioned by the provisions of Article XIV or be voluntary or involuntary or be 

  
 31 

 
effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body): 

(1) default in the payment of any interest upon any Security of that series when it becomes due and payable, and
continuance of such default for a period of 30 days; or 
 (2) default in the payment of the principal of or any
premium on any Security of that series at its Maturity; or 
 (3) default in the deposit of any sinking fund
payment, when and as due by the terms of a Security of that series; or 
 (4) default in the performance, or
breach, of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this
Indenture solely for the benefit of series of Securities other than that series), and continuance of such default or breach for a period of 90 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the
Company and the Trustee by the Holders of at least 10% in principal amount of the Outstanding Securities of that series a written notice specifying such default or breach and requiring it to be remedied and stating that such notice is a “Notice
of Default” hereunder; or 
 (5) the entry by a court having jurisdiction in the premises of (A) a
decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company a
bankrupt or insolvent, or approving as properly filed a petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a custodian, receiver,
liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or
any such other decree or order unstayed and in effect for a period of 90 consecutive days (provided that, if any Person becomes the successor to the Company pursuant to Article VIII and such Person is a corporation, partnership or trust organized
and validly existing under the law of a jurisdiction outside the United States, each reference in this Clause (5) to an applicable Federal or State law of a particular kind shall be deemed to refer to such law or any applicable comparable law
of such non-U.S. jurisdiction, for as long as such Person is the successor to the Company hereunder and is so organized and existing); or 
 (6) the commencement by the Company of a voluntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding
to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization
or other similar law or to the commencement of any 

  
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bankruptcy or insolvency case or proceeding against it, or the filing by it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or State law, or the
consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or
the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its debts generally as they become due, or the taking of corporate action by the Company in furtherance of any such action
(provided that, if any Person becomes the successor to the Company pursuant to Article VIII and such Person is a corporation, partnership or trust organized and validly existing under the law of a jurisdiction outside the United States, each
reference in this Clause (6) to an applicable Federal or State law of a particular kind shall be deemed to refer to such law or any applicable comparable law of such non-U.S. jurisdiction, for as long as such Person is the successor to the
Company hereunder and is so organized and existing); or 
 (7) any other Event of Default provided with respect
to Securities of that series. 
 SECTION 502. Acceleration of Maturity; Rescission and Annulment. 

If an Event of Default (other than an Event of Default specified in Section 501(5) or 501(6)) with respect to Securities of any
series at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Securities of that series may declare the principal amount of all the Securities
of that series (or, in the case of any Security of that series which specifies an amount to be due and payable thereon upon acceleration of the Maturity thereof, such amount as may be specified by the terms thereof) to be due and payable
immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default specified in
Section 501(5) or 501(6) with respect to Securities of any series at the time Outstanding occurs, the principal amount of all the Securities of that series (or, in the case of any Security of that series which specifies an amount to be due and
payable thereon upon acceleration of the Maturity thereof, such amount as may be specified by the terms thereof) shall automatically, and without any declaration or other action on the part of the Trustee or any Holder, become immediately due and
payable. 
 At any time after such a declaration of acceleration with respect to Securities of any series has been made and
before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Securities of that series, by written notice to the
Company and the Trustee, may rescind and annul such declaration and its consequences if 
 (1) the Company has
paid or deposited with the Trustee a sum sufficient to pay 
 (A) all overdue interest on all Securities of that
series, 

  
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 (B) the principal of (and premium, if any, on) any Securities of that series
which have become due otherwise than by such declaration of acceleration and any interest thereon at the rate or rates prescribed therefor in such Securities, 
 (C) to the extent that payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Securities, and 

(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel; and 
 (2) all Events of Default with respect to Securities of
that series, other than the non-payment of the principal of Securities of that series which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 513. 

No such rescission shall affect any subsequent default or impair any right consequent thereon. 

SECTION 503. Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if 
 (1) default is made in the payment of any interest on any Security when such interest becomes due and payable and such default continues for a period of 30 days, or 

(2) default is made in the payment of the principal of (or premium, if any, on) any Security at the Maturity thereof,

 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Securities, the whole amount then due and
payable on such Securities for principal and any premium and interest and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue principal and premium and on any overdue interest, at the rate or rates
prescribed therefor in such Securities, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel. 
 If an Event of Default with respect to Securities of any series occurs and is continuing, the Trustee
may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Securities of such series by such appropriate judicial proceedings as the Trustee shall deem most effectual to protect and enforce any such rights,
whether for the specific enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

  
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 SECTION 504. Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company (or any other obligor upon the Securities), its property or its creditors, the
Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such proceeding. In
particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other
similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee
any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 607. 

No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any
Holder any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided,
however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

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

All rights of action and claims under this Indenture or the Securities may be prosecuted and enforced by the Trustee without the
possession of any of the Securities or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall,
after provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Securities in respect of which such judgment has been
recovered. 
 SECTION 506. Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed by the
Trustee and, in case of the distribution of such money on account of principal or any premium or interest, upon presentation of the Securities and the notation thereon of the payment if only partially paid and upon surrender thereof if fully paid:

 FIRST: To the payment of all amounts due the Trustee under Section 607; and 

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

  
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 SECTION 507. Limitation on Suits. 

No Holder of any Security of any series shall have any right to institute any proceeding, judicial or otherwise, with respect to this
Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
 (1) such
Holder has previously given written notice to the Trustee of a continuing Event of Default with respect to the Securities of that series; 
 (2) the Holders of not less than 25% in principal amount of the Outstanding Securities of that series shall have made written request to the Trustee to institute proceedings in respect of such Event of
Default in its own name as Trustee hereunder; 
 (3) such Holder or Holders have offered to the Trustee indemnity
reasonably satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding; and 

(5) no direction inconsistent with such written request has been given to the Trustee during such 60-day period by the
Holders of a majority in principal amount of the Outstanding Securities of that series; 
 it being understood and intended that no one or more
of such Holders shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

SECTION 508. Unconditional Right of Holders to Receive Principal, Premium and Interest and to Convert. 

Notwithstanding any other provision in this Indenture, the Holder of any Security shall have the right, which is absolute and
unconditional, to receive payment of the principal of and any premium and (subject to Section 307) interest on such Security on the respective Stated Maturities expressed in such Security (or, in the case of redemption, on the Redemption Date),
and, if the terms of such Security so provide, to convert such Security in accordance with its terms, and to institute suit for the enforcement of any such payment and, if applicable, any such right to convert, and such rights shall not be impaired
without the consent of such Holder. 
 SECTION 509. Restoration of Rights and Remedies. 

If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has
been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the Trustee and the Holders shall be
restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

  
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 SECTION 510. Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or wrongfully taken Securities in
the last paragraph of Section 306, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law,
be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
 SECTION 511. Delay or Omission Not Waiver.

 No delay or omission of the Trustee or of any Holder of any Securities to exercise any right or remedy accruing upon any
Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised from time
to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 SECTION 512.
Control by Holders. 
 The Holders of a majority in principal amount of the Outstanding Securities of any series shall have
the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities of such series, provided that 

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

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

 SECTION 513. Waiver of Past Defaults. 
 The Holders of not less than a majority in principal amount of the Outstanding Securities of any series may on behalf of the Holders of all the Securities of such series waive any past default hereunder
with respect to such series and its consequences, except a default 
 (1) in the payment of the principal of or
any premium or interest on any Security of such series, or 
 (2) in respect of a covenant or provision hereof
which under Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Security of such series affected. 
 Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Indenture; but no such

  
 37 

 
waiver shall extend to any subsequent or other default or impair any right consequent thereon. A waiver of any past default and its consequences given by or on behalf of any Holder of the
Securities in connection with a purchase of, or tender or exchange offer for, such Holder’s Securities will not be rendered invalid by such purchase, tender or exchange. 
 SECTION 514. Undertaking for Costs. 
 In any suit for the enforcement of
any right or remedy under this Indenture, or in any suit against the Trustee for any action taken, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and
may assess costs, including reasonable attorneys’ fees and expenses, against any such party litigant, in the manner and to the extent provided in the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall be
deemed to authorize any court to require such an undertaking or to make such an assessment in any suit instituted by the Company or the Trustee or, if applicable, in any suit for the enforcement of the right to convert any Security in accordance
with its terms. 
 ARTICLE VI 
 THE TRUSTEE 
 SECTION 601. Certain Duties and Responsibilities.

 The duties and responsibilities of the Trustee shall be as provided by the Trust Indenture Act. Notwithstanding the
foregoing, no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if
it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. Whether or not therein expressly so provided, every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. 
 SECTION 602. Notice of Defaults. 
 If a default occurs hereunder with
respect to Securities of any series, the Trustee shall give the Holders of Securities of such series notice of such default as and to the extent provided by the Trust Indenture Act; provided, however, that in the case of any default of the
character specified in Section 501(4) with respect to Securities of such series, no such notice to Holders shall be given until at least 30 days after the occurrence thereof. For the purpose of this Section, the term “default” means
any event which is, or after notice or lapse of time or both would become, an Event of Default with respect to Securities of such series. 
 SECTION 603. Certain Rights of Trustee. 
 Subject to the provisions of
Section 601: 
 (1) the Trustee may rely and shall be protected in acting or refraining from acting upon any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness 

  
 38 

 
or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties; 

(2) any request or direction of the Company mentioned herein shall be sufficiently evidenced by a Company Request or
Company Order, and any resolution of the Board of Directors shall be sufficiently evidenced by a Board Resolution; 
 (3) whenever in the administration of this Indenture the Trustee shall deem it desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee
(unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, rely upon an Officers’ Certificate; 
 (4) the Trustee may consult with counsel of its selection and the written advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action
taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 
 (5) the Trustee shall be
under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity
reasonably satisfactory to it against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction; 
 (6) the Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent,
order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Company, personally or by agent or attorney; 

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

(8) the Trustee shall not be liable for any action taken, suffered or omitted to be taken by it in good faith and
reasonably believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture; 
 (9) the Trustee shall not be deemed to have notice of any default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which
is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities and this Indenture; and 

  
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 (10) the rights, privileges, protections, immunities and benefits given to
the Trustee, including its rights to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder. 
 SECTION 604. Not Responsible for Recitals or Issuance of Securities. 
 The
recitals contained herein and in the Securities, except the Trustee’s certificates of authentication, shall be taken as the statements of the Company, and the Trustee does not assume any responsibility for their correctness. The Trustee makes
no representations as to the validity or sufficiency of this Indenture or of the Securities. The Trustee shall not be accountable for the use or application by the Company of Securities or the proceeds thereof. 

SECTION 605. May Hold Securities. 
 The Trustee, any Paying Agent, any Security Registrar or any other agent of the Company, in its individual or any other capacity, may become the owner or pledgee of Securities and, subject to Sections 608
and 613, may otherwise deal with the Company with the same rights it would have if it were not Trustee, Paying Agent, Security Registrar or such other agent. 
 SECTION 606. Money Held in Trust. 
 Money held by the Trustee in trust
hereunder need not be segregated from other funds except to the extent required by law. The Trustee shall be under no liability for interest on any money received by it hereunder except as otherwise agreed in writing with the Company. 

SECTION 607. Compensation and Reimbursement. 
 The Company agrees 
 (1) to pay to the Trustee from time to time
such compensation as shall be agreed in writing between the parties for all services rendered by it hereunder (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust);

 (2) except as otherwise expressly provided herein, to reimburse the Trustee upon its request for all
reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any provision of this Indenture (including the reasonable compensation and the expenses and disbursements of its agents and counsel), except any such
expense, disbursement or advance as may be attributable to its negligence or bad faith; and 
 (3) to indemnify
each of the Trustee or any predecessor Trustee for, and to hold it harmless against, any and all losses, liabilities, damages, claims or expenses including taxes (other than taxes imposed on the income of the Trustee) incurred without negligence or
bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the costs and expenses of defending itself against any claim (whether asserted by the Company, a Holder or any

  
 40 

 
other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder. 
 When the Trustee incurs expenses or renders services in connection with an Event of Default specified in Section 501(5) or Section 501(6), the expenses (including the reasonable charges and
expenses of its counsel) and the compensation for the services are intended to constitute expenses of administration under any applicable Federal or State bankruptcy, insolvency or other similar law. 

The provisions of this Section shall survive the termination of this Indenture. 

SECTION 608. Conflicting Interests. 
 If the Trustee has or shall acquire a conflicting interest within the meaning of the Trust Indenture Act, the Trustee shall either eliminate such interest or resign, to the extent and in the manner
provided by, and subject to the provisions of, the Trust Indenture Act and this Indenture. To the extent permitted by the Trust Indenture Act, the Trustee shall not be deemed to have a conflicting interest by virtue of being a trustee under this
Indenture with respect to Securities of more than one series. 
 SECTION 609. Corporate Trustee Required; Eligibility.

 There shall at all times be one (and only one) Trustee hereunder with respect to the Securities of each series, which may
be Trustee hereunder for Securities of one or more other series. Each Trustee shall be a Person that is eligible pursuant to the Trust Indenture Act to act as such, has a combined capital and surplus of at least $50,000,000 and has its Corporate
Trust Office in the Borough of Manhattan, The City of New York. If any such Person publishes reports of condition at least annually, pursuant to law or to the requirements of its supervising or examining authority, then for the purposes of this
Section and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time
the Trustee with respect to the Securities of any series shall cease to be eligible in accordance with the provisions of this Section, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. 

SECTION 610. Resignation and Removal; Appointment of Successor. 

No resignation or removal of the Trustee and no appointment of a successor Trustee pursuant to this Article shall become effective until
the acceptance of appointment by the successor Trustee in accordance with the applicable requirements of Section 611. 

The Trustee may resign at any time with respect to the Securities of one or more series by giving written notice thereof to the Company.
If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been delivered to the Trustee within 60 days after the giving of such notice of resignation, the resigning Trustee may petition, at the expense of the
Company, any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

  
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 The Trustee may be removed at any time with respect to the Securities of any series by Act
of the Holders of a majority in principal amount of the Outstanding Securities of such series, delivered to the Trustee and to the Company. If the instrument of acceptance by a successor Trustee required by Section 611 shall not have been
delivered to the Trustee within 30 days after the giving of a notice of removal pursuant to this paragraph, the Trustee being removed may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor
Trustee with respect to the Securities of such series. 
 If at any time: 

(1) the Trustee shall fail to comply with Section 608 after written request therefor by the Company or by any Holder
who has been a bona fide Holder of a Security for at least six months, or 
 (2) the Trustee shall cease to be
eligible under Section 609 and shall fail to resign after written request therefor by the Company or by any such Holder, or 
 (3) the Trustee shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Trustee or of its property shall be appointed or any public officer shall take charge or
control of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
 then, in any such case,
(A) the Company by a Board Resolution may remove the Trustee with respect to all Securities, or (B) subject to Section 514, any Holder who has been a bona fide Holder of a Security for at least six months may, on behalf of himself and
all others similarly situated, petition any court of competent jurisdiction for the removal of the Trustee with respect to all Securities and the appointment of a successor Trustee or Trustees. 

If the Trustee shall resign, be removed or become incapable of acting, or if a vacancy shall occur in the office of Trustee for any
cause, with respect to the Securities of one or more series, the Company, by a Board Resolution, shall promptly appoint a successor Trustee or Trustees with respect to the Securities of that or those series (it being understood that any such
successor Trustee may be appointed with respect to the Securities of one or more or all of such series and that at any time there shall be only one Trustee with respect to the Securities of any particular series) and shall comply with the applicable
requirements of Section 611. If, within one year after such resignation, removal or incapability, or the occurrence of such vacancy, a successor Trustee with respect to the Securities of any series shall be appointed by Act of the Holders of a
majority in principal amount of the Outstanding Securities of such series delivered to the Company and the retiring Trustee, the successor Trustee so appointed shall, forthwith upon its acceptance of such appointment in accordance with the
applicable requirements of Section 611, become the successor Trustee with respect to the Securities of such series and to that extent supersede the successor Trustee appointed by the Company. If no successor Trustee with respect to the
Securities of any series shall have been so appointed by the Company or the Holders and accepted appointment in the manner required by Section 611, any Holder who has been a bona fide Holder of a Security of such series for at least six months
may, on behalf of himself and all others similarly situated, petition any court of competent jurisdiction for the appointment of a successor Trustee with respect to the Securities of such series. 

  
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 The Company shall give notice of each resignation and each removal of the Trustee with
respect to the Securities of any series and each appointment of a successor Trustee with respect to the Securities of any series to all Holders of Securities of such series in the manner provided in Section 106. Each notice shall include the
name of the successor Trustee with respect to the Securities of such series and the address of its Corporate Trust Office. 

SECTION 611. Acceptance of Appointment by Successor. 
 In case of the appointment hereunder of a successor Trustee with respect to all Securities, every such successor Trustee so appointed shall execute, acknowledge and deliver to the Company and to the
retiring Trustee an instrument accepting such appointment, and thereupon the resignation or removal of the retiring Trustee shall become effective and such successor Trustee, without any further act, deed or conveyance, shall become vested with all
the rights, powers, trusts and duties of the retiring Trustee; but, on the request of the Company or the successor Trustee, such retiring Trustee shall, upon payment of its charges, execute and deliver an instrument transferring to such successor
Trustee all the rights, powers and trusts of the retiring Trustee and shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder. 

In case of the appointment hereunder of a successor Trustee with respect to the Securities of one or more (but not all) series, the
Company, the retiring Trustee and each successor Trustee with respect to the Securities of one or more series shall execute and deliver an indenture supplemental hereto wherein each successor Trustee shall accept such appointment and which
(1) shall contain such provisions as shall be necessary or desirable to transfer and confirm to, and to vest in, each successor Trustee all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or
those series to which the appointment of such successor Trustee relates, (2) if the retiring Trustee is not retiring with respect to all Securities, shall contain such provisions as shall be deemed necessary or desirable to confirm that all the
rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series as to which the retiring Trustee is not retiring shall continue to be vested in the retiring Trustee, and (3) shall add to or
change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall
constitute such Trustees co-trustees of the same trust and that each such Trustee shall be trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other such Trustee; and upon the execution
and delivery of such supplemental indenture the resignation or removal of the retiring Trustee shall become effective to the extent provided therein and each such successor Trustee, without any further act, deed or conveyance, shall become vested
with all the rights, powers, trusts and duties of the retiring Trustee with respect to the Securities of that or those series to which the appointment of such successor Trustee relates; but, on request of the Company or any successor Trustee, such
retiring Trustee shall duly assign, transfer and deliver to such successor Trustee all property and money held by such retiring Trustee hereunder with respect to the Securities of that or those series to which the appointment of such successor
Trustee relates. 
 Upon request of any such successor Trustee, the Company shall execute any and all instruments for more fully
and certainly vesting in and confirming to such successor Trustee all such rights, powers and trusts referred to in the first or second preceding paragraph, as the case may be. 

  
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 No successor Trustee shall accept its appointment unless at the time of such acceptance
such successor Trustee shall be qualified and eligible under this Article. 
 SECTION 612. Merger, Conversion, Consolidation
or Succession to Business. 
 Any corporation into which the Trustee may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or consolidation to which the Trustee shall be a party, or any corporation succeeding to all or substantially all the corporate trust business of the Trustee, shall be the
successor of the Trustee hereunder, provided such corporation shall be otherwise qualified and eligible under this Article, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any
Securities shall have been authenticated, but not delivered, by the Trustee then in office, any successor by merger, conversion or consolidation to such authenticating Trustee may adopt such authentication and deliver the Securities so authenticated
with the same effect as if such successor Trustee had itself authenticated such Securities. 
 SECTION 613. Preferential
Collection of Claims Against Company. 
 If and when the Trustee shall be or become a creditor of the Company (or any other
obligor upon the Securities), the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against the Company (or any such other obligor). 

ARTICLE VII 

HOLDERS’ LISTS AND REPORTS BY TRUSTEE AND COMPANY 
 SECTION 701. Company to Furnish Trustee Names and Addresses of Holders. 

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

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

(2) at such other times as the Trustee may request in writing, within 30 days after the receipt by the Company of any such
request, a list of similar form and content as of a date not more than 15 days prior to the time such list is furnished; 
 excluding from any
such list names and addresses received by the Trustee in its capacity as Security Registrar. 
 SECTION 702. Preservation of
Information; Communications to Holders. 
 The Trustee shall preserve, in as current a form as is reasonably practicable,
the names and addresses of Holders contained in the most recent list furnished to the Trustee as provided in 

  
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Section 701 and the names and addresses of Holders received by the Trustee in its capacity as Security Registrar. The Trustee may destroy any list furnished to it as provided in
Section 701 upon receipt of a new list so furnished. 
 The rights of Holders to communicate with other Holders with
respect to their rights under this Indenture or under the Securities, and the corresponding rights and privileges of the Trustee, shall be as provided by the Trust Indenture Act. 

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

SECTION 703. Reports by Trustee. 
 The Trustee shall transmit to Holders such reports concerning the Trustee and its actions under this Indenture as may be required pursuant to the Trust Indenture Act at the times and in the manner
provided pursuant thereto. 
 Reports so required to be transmitted at stated intervals of not more than 12 months shall be
transmitted no later than July 1 and shall be dated as of May 1 in each calendar year, commencing in [                    ].

 A copy of each such report shall, at the time of such transmission to Holders, be filed by the Trustee with each stock
exchange upon which any Securities are listed, with the Commission and with the Company. The Company will notify the Trustee when any Securities are listed on any stock exchange and of any delisting thereof. 

SECTION 704. Reports by Company. 
 The Company shall file with the Trustee and the Commission, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust
Indenture Act at the times and in the manner provided pursuant to such Act; provided that any such information, documents or reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Exchange Act shall be filed
with the Trustee within 15 days after the same is so required to be filed with the Commission. 
 ARTICLE VIII 

CONSOLIDATION, MERGER, CONVEYANCE, TRANSFER OR LEASE 
 SECTION 801. Company May Consolidate, Etc., Only on Certain Terms. 
 The
Company shall not consolidate with or merge into any other Person or convey, transfer or lease all or substantially all its properties and assets to any Person, and the Company shall not permit any Person to consolidate with or merge into the
Company, unless: 
 (1) in case the Company shall consolidate with or merge into another Person or convey,
transfer or lease all or substantially all its properties and assets to any Person, 

  
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the Person formed by such consolidation or into which the Company is merged or the Person which acquires by conveyance or transfer, or which leases, all or substantially all the properties and
assets of the Company shall be a corporation, partnership or trust, shall be organized and validly existing under the laws of any domestic or foreign jurisdiction and shall expressly assume, by an indenture supplemental hereto, executed and
delivered to the Trustee, in form satisfactory to the Trustee, the due and punctual payment of the principal of and any premium and interest on all the Securities and the performance or observance of every covenant of this Indenture on the part of
the Company to be performed or observed and, for each Security that by its terms provides for conversion, shall have provided for the right to convert such Security in accordance with its terms; 

(2) immediately after giving effect to such transaction and treating any indebtedness which becomes an obligation of the
Company or any Subsidiary as a result of such transaction as having been incurred by the Company or such Subsidiary at the time of such transaction, no Event of Default, and no event which, after notice or lapse of time or both, would become an
Event of Default, shall have happened and be continuing; 
 (3) if, as a result of any such consolidation or
merger or such conveyance, transfer or lease, properties or assets of the Company would become subject to a pledge, lien or other similar encumbrance which would not be permitted by this Indenture, the Company or such successor Person, as the case
may be, shall take such steps as shall be necessary effectively to secure the Securities equally and ratably with (or prior to) all indebtedness secured thereby; and 

(4) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
such consolidation, merger, conveyance, transfer or lease and, if a supplemental indenture is required in connection with such transaction, such supplemental indenture comply with this Article and that all conditions precedent herein provided for
relating to such transaction have been complied with. 
 SECTION 802. Successor Substituted. 

Upon any consolidation of the Company with, or merger of the Company into, any other Person or any conveyance, transfer or lease of all
or substantially all the properties and assets of the Company in accordance with Section 801, the successor Person formed by such consolidation or into which the Company is merged or to which such conveyance, transfer or lease is made shall
succeed to, and be substituted for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein, and thereafter, except in the case of a lease, the
predecessor Person shall be relieved of all obligations and covenants under this Indenture and the Securities. 
 ARTICLE IX

 SUPPLEMENTAL INDENTURES 
 SECTION 901. Supplemental Indentures Without Consent of Holders. 
 Without
the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in form satisfactory to the Trustee, for any of the
following purposes: 
 (1) to evidence the succession of another Person to the Company and the assumption by any
such successor of the covenants of the Company herein and in the Securities; or 

  
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 (2) to add to the covenants of the Company for the benefit of the Holders of
all or any series of Securities (and if such covenants are to be for the benefit of less than all series of Securities, stating that such covenants are expressly being included solely for the benefit of such series) or to surrender any right or
power herein conferred upon the Company; or 
 (3) to add any additional Events of Default for the benefit of the
Holders of all or any series of Securities (and if such additional Events of Default are to be for the benefit of less than all series of Securities, stating that such additional Events of Default are expressly being included solely for the benefit
of such series); or 
 (4) to add to or change any of the provisions of this Indenture to such extent as shall be
necessary to permit or facilitate the issuance of Securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of Securities in uncertificated form; or

 (5) to add to, change or eliminate any of the provisions of this Indenture in respect of one or more series of
Securities, provided that any such addition, change or elimination (A) shall neither (i) apply to any Security of any series created prior to the execution of such supplemental indenture and entitled to the benefit of such provision nor
(ii) modify the rights of the Holder of any such Security with respect to such provision or (B) shall become effective only when there is no such Security Outstanding; or 

(6) to secure the Securities pursuant to the requirements of Section 801(3) or Section 1005 or otherwise; or

 (7) to establish the form or terms of Securities of any series as permitted by Sections 201 and 301; or

 (8) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to
the Securities of one or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, pursuant to the requirements
of Section 611; or 
 (9) to add to or change any of the provisions of this Indenture with respect to any
Securities that by their terms may be converted into securities or other property other than Securities of the same series and of like tenor, in order to permit or facilitate the issuance, payment or conversion of such Securities; or 

  
 47 

 (10) to cure any ambiguity, to correct or supplement any provision herein
which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or questions arising under this Indenture, provided that such action pursuant to this Clause (10) shall not
adversely affect the interests of the Holders of Securities of any series in any material respect. 
 SECTION 902.
Supplemental Indentures With Consent of Holders. 
 With the consent of the Holders of a majority in principal amount of the
Outstanding Securities of all series affected by such supplemental indenture, considered together as one class for this purpose (plus, if and as the terms applicable to any such affected series pursuant to Section 301 so provide, the consent of
the Holders of a majority in principal amount of the Outstanding Securities of such affected series or of any other Persons acting on behalf of such Holders), by Act of said Holders delivered to the Company and the Trustee, the Company, when
authorized by a Board Resolution, and the Trustee may enter into an indenture or indentures supplemental hereto for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of
modifying in any manner the rights of the Holders of Securities of such series under this Indenture; provided, however, that no such supplemental indenture shall, without the consent of the Holder of each Outstanding Security affected
thereby, 
 (1) change the Stated Maturity of the principal of, or any installment of principal of or interest
on, any Security, or reduce the principal amount thereof or the rate of interest thereon or any premium payable upon the redemption thereof, or reduce the amount of the principal of an Original Issue Discount Security or any other Security which
would be due and payable upon a declaration of acceleration of the Maturity thereof pursuant to Section 502, or permit the Company to redeem any Security if, absent such supplemental indenture, the Company would not be permitted to do so, or
change any Place of Payment where, or the coin or currency in which, any Security or any premium or interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity thereof
(or, in the case of redemption, on or after the Redemption Date), or 
 (2) if any Security provides that the
Holder may require the Company to repurchase or convert such Security, impair such Holder’s right to require repurchase or conversion of such Security on the terms provided therein, or 

(3) reduce the percentage in principal amount of the Outstanding Securities of any one or more series (considered
separately or together as one class, as applicable), the consent of whose Holders is required for any such supplemental indenture, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of this Indenture or
certain defaults hereunder and their consequences) provided for in this Indenture, or 
 (4) modify any of the
provisions of this Section, Section 513 or Section 1005, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each

  
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Outstanding Security affected thereby; provided, however, that this clause shall not be deemed to require the consent of any Holder with respect to changes in the references to “the
Trustee” and concomitant changes in this Section and Section 1006, or the deletion of this proviso, in accordance with the requirements of Sections 611 and 901(8). 
 A supplemental indenture which changes or eliminates any covenant or other provision of this Indenture which has expressly been included solely for the benefit of one or more particular series of
Securities, or which modifies the rights of the Holders of Securities of such series with respect to such covenant or other provision, shall be deemed not to affect the rights under this Indenture of the Holders of Securities of any other series.

 It shall not be necessary for any Act of Holders under this Section to approve the particular form of any proposed
supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof. A consent to any indenture supplemental hereto by or on behalf of any Holder of the Securities given in connection with a purchase of, or tender or
exchange offer for, such Holder’s Securities will not be rendered invalid by such purchase, tender or exchange. 

SECTION 903. Execution of Supplemental Indentures. 
 In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be
entitled to receive, and (subject to Section 601) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture. The Trustee may, but shall
not be obligated to, enter into any such supplemental indenture which affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise. 
 SECTION 904. Effect of Supplemental Indentures. 
 Upon the execution of any
supplemental indenture under this Article, this Indenture shall be modified in accordance therewith, and such supplemental indenture shall form a part of this Indenture for all purposes; and every Holder of Securities theretofore or thereafter
authenticated and delivered hereunder shall be bound thereby. 
 SECTION 905. Conformity with Trust Indenture Act.

 Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture
Act. 
 SECTION 906. Reference in Securities to Supplemental Indentures. 

Securities of any series authenticated and delivered after the execution of any supplemental indenture pursuant to this Article may, and
shall if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in such supplemental indenture. If the Company shall so determine, new Securities of any series so modified as to conform, in the opinion
of the Trustee and the Company, to any such supplemental indenture 

  
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may be prepared and executed by the Company and authenticated and delivered by the Trustee in exchange for Outstanding Securities of such series. 

SECTION 907. Subordination Unimpaired. 
 No supplemental indenture shall adversely affect the interests of any holder of Senior Debt then outstanding under Article XIV in any material respect unless each holder of Senior Debt so affected (or the
group or representative thereof authorized or required to consent thereto pursuant to the instrument creating or evidencing, or pursuant to which there is outstanding, such Senior Debt) consents to such supplemental indenture in writing. 

ARTICLE X 

COVENANTS 

SECTION 1001. Payment of Principal, Premium and Interest. 

The Company covenants and agrees for the benefit of each series of Securities that it will duly and punctually pay the principal of and
any premium and interest on the Securities of that series in accordance with the terms of the Securities and this Indenture. 

SECTION 1002. Maintenance of Office or Agency. 
 The Company will maintain in each Place of Payment for any series of Securities an office or agency where Securities of that series may be presented or surrendered for payment, where Securities of that
series may be surrendered for registration of transfer or exchange, where Securities may be surrendered for conversion and where notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be served.
The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company shall fail to maintain any such required office or agency or shall fail to furnish the
Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations,
surrenders, notices and demands. 
 The Company may also from time to time designate one or more other offices or agencies where
the Securities of one or more series may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the
Company of its obligation to maintain an office or agency in each Place of Payment for Securities of any series for such purposes. The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in
the location of any such other office or agency. 
 With respect to any Global Security, and except as otherwise may be
specified for such Global Security as contemplated by Section 301, the Corporate Trust Office of the Trustee shall be the Place of Payment where such Global Security may be presented or surrendered for payment or for registration of transfer or
exchange, or where successor Securities may be delivered in exchange therefor, provided, however, that any such payment, presentation, surrender or delivery effected pursuant to the Applicable Procedures of the Depositary for such

  
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Global Security shall be deemed to have been effected at the Place of Payment for such Global Security in accordance with the provisions of this Indenture. 

SECTION 1003. Money for Securities Payments to Be Held in Trust. 

If the Company shall at any time act as its own Paying Agent with respect to any series of Securities, it will, on or before each due
date of the principal of or any premium or interest on any of the Securities of that series, segregate and hold in trust for the benefit of the Persons entitled thereto a sum sufficient to pay the principal and any premium and interest so becoming
due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so to act. 
 Whenever the Company shall have one or more Paying Agents for any series of Securities, it will, prior to each due date of the principal of or any premium or interest on any Securities of that series,
deposit (or, if the Company has deposited any trust funds with a trustee pursuant to Section 1304(1), cause such trustee to deposit) with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture
Act, and (unless such Paying Agent is the Trustee) the Company will promptly notify the Trustee of its action or failure so to act. 
 The Company will cause each Paying Agent for any series of Securities other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee,
subject to the provisions of this Section, that such Paying Agent will (1) comply with the provisions of the Trust Indenture Act applicable to it as a Paying Agent and (2) during the continuance of any default by the Company (or any other
obligor upon the Securities of that series) in the making of any payment in respect of the Securities of that series, upon the written request of the Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in
respect of the Securities of that series. 
 The Company may at any time, for the purpose of obtaining the satisfaction and
discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust by the Company or such Paying Agent, such sums to be held by the Trustee upon the same trusts as
those upon which such sums were held by the Company or such Paying Agent; and, upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released from all further liability with respect to such money. 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of or
any premium or interest on any Security of any series and remaining unclaimed for two years after such principal, premium or interest has become due and payable shall be paid to the Company on Company Request, or (if then held by the Company) shall
be discharged from such trust; and the Holder of such Security shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money,
and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may, at the expense of the Company, cause to be published
once, in a newspaper published in the English language, 

  
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customarily published on each Business Day and of general circulation in The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not
be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will be repaid to the Company. 
 SECTION 1004. Statement by Officers as to Default. 
 The Company will
deliver to the Trustee, within 120 days after the end of each fiscal year of the Company ending after the date hereof, an Officers’ Certificate, stating whether or not to the best knowledge of the signers thereof the Company is in default in
the performance and observance of any of the terms, provisions and conditions of this Indenture (without regard to any period of grace or requirement of notice provided hereunder) and, if the Company shall be in default, specifying all such defaults
and the nature and status thereof of which they may have knowledge. 
 SECTION 1005. Waiver of Certain Covenants.

 Except as otherwise specified as contemplated by Section 301 for Securities of a specific series, the Company may,
with respect to the Securities of any one or more series, omit in any particular instance to comply with any term, provision or condition set forth in any covenant provided pursuant to Section 301(18), 901(2) or 901(6) for the benefit of the
Holders of such series or in Article VIII if, before the time for such compliance, the Holders of a majority in principal amount of the Outstanding Securities of all series affected by such waiver, considered together as one class for this purpose
(plus, if and as the terms applicable to any such affected series pursuant to Section 301 so provide, the consent of the Holders of a majority in principal amount of the Outstanding Securities of such affected series or of any other Persons
acting on behalf of such Holders) shall, by Act of such Holders, either waive such compliance in such instance or generally waive compliance with such term, provision or condition, but no such waiver shall extend to or affect such term, provision or
condition except to the extent so expressly waived, and, until such waiver shall become effective, the obligations of the Company and the duties of the Trustee in respect of any such term, provision or condition shall remain in full force and
effect. A waiver of compliance given by or on behalf of any Holder of the Securities in connection with a purchase of, or tender or exchange offer for, such Holder’s Securities will not be rendered invalid by such purchase, tender or exchange.

 ARTICLE XI 
 REDEMPTION OF SECURITIES 
 SECTION 1101. Applicability of Article.

 Securities of any series which are redeemable before their Stated Maturity shall be redeemable in accordance with their
terms and (except as otherwise specified as contemplated by Section 301 for such Securities) in accordance with this Article. 
 SECTION 1102. Election to Redeem; Notice to Trustee. 
 The election of the
Company to redeem any Securities shall be established in or pursuant to a Board Resolution or in another manner specified as contemplated by Section 301 for such 

  
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Securities. In case of any redemption at the election of the Company of less than all the Securities of any series (including any such redemption affecting only a single Security), the Company
shall, at least 60 days prior to the Redemption Date fixed by the Company (unless a shorter notice shall be satisfactory to the Trustee), notify the Trustee of such Redemption Date, of the principal amount of Securities of such series to be redeemed
and, if applicable, of the tenor of the Securities to be redeemed. In the case of any redemption of Securities prior to the expiration of any restriction on such redemption provided in the terms of such Securities or elsewhere in this Indenture, the
Company shall furnish the Trustee with an Officers’ Certificate evidencing compliance with such restriction. 
 SECTION
1103. Selection by Trustee of Securities to Be Redeemed. 
 If less than all the Securities of any series are to be redeemed
(unless all the Securities of such series and of a specified tenor are to be redeemed or unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to the Redemption
Date by the Trustee, from the Outstanding Securities of such series not previously called for redemption, by such method as the Trustee shall deem fair and appropriate and which may provide for the selection for redemption of a portion of the
principal amount of any Security of such series, provided that the unredeemed portion of the principal amount of any Security shall be in an authorized denomination (which shall not be less than the minimum authorized denomination) for such
Security. If less than all the Securities of such series and of a specified tenor are to be redeemed (unless such redemption affects only a single Security), the particular Securities to be redeemed shall be selected not more than 60 days prior to
the Redemption Date by the Trustee, from the Outstanding Securities of such series and specified tenor not previously called for redemption in accordance with the preceding sentence. 

If any Security selected for partial redemption is converted in part before termination of the conversion right with respect to the
portion of the Security so selected, the converted portion of such Security shall be deemed (so far as may be) to be the portion selected for redemption. Securities which have been converted during a selection of Securities to be redeemed shall be
treated by the Trustee as Outstanding for the purpose of such selection. 
 The Trustee shall promptly notify the Company and
each Security Registrar in writing of the Securities selected for redemption as aforesaid and, in case of any Securities selected for partial redemption as aforesaid, the principal amount thereof to be redeemed. 

The provisions of the two preceding paragraphs shall not apply with respect to any redemption affecting only a single Security, whether
such Security is to be redeemed in whole or in part. In the case of any such redemption in part, the unredeemed portion of the principal amount of the Security shall be in an authorized denomination (which shall not be less than the minimum
authorized denomination) for such Security. 
 For all purposes of this Indenture, unless the context otherwise requires, all
provisions relating to the redemption of Securities shall relate, in the case of any Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Securities which has been or is to be redeemed. 

  
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 SECTION 1104. Notice of Redemption. 

Notice of redemption shall be given in the manner provided in Section 106 not less than 30 days nor more than 60 days prior to the
Redemption Date, to each Holder of Securities to be redeemed, at his address appearing in the Security Register. 
 All notices
of redemption shall identify the Securities to be redeemed (including CUSIP numbers, if any) and shall state: 

(1) the Redemption Date, 
 (2) the Redemption Price, 
 (3) if less than all the Outstanding
Securities of any series consisting of more than a single Security are to be redeemed, the identification (and, in the case of partial redemption of any such Securities, the principal amounts) of the particular Securities to be redeemed and, if less
than all the Outstanding Securities of any series consisting of a single Security are to be redeemed, the principal amount of the particular Security to be redeemed, 

(4) that on the Redemption Date the Redemption Price will become due and payable upon each such Security to be redeemed
and, if applicable, that interest thereon will cease to accrue on and after said date, 
 (5) the place or places
where each such Security is to be surrendered for payment of the Redemption Price, 
 (6) for any Securities that
by their terms may be converted, the terms of conversion, the date on which the right to convert the Security to be redeemed will terminate and the place or places where such Securities may be surrendered for conversion, and 

(7) that the redemption is for a sinking fund, if such is the case. 

Notice of redemption of Securities to be redeemed at the election of the Company shall be given by the Company or, at the Company’s
request, by the Trustee in the name and at the expense of the Company and shall be irrevocable. 
 SECTION 1105. Deposit of
Redemption Price. 
 Prior to any Redemption Date, the Company shall deposit with the Trustee or with a Paying Agent (or, if
the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 1003) an amount of money sufficient to pay the Redemption Price of, and (except if the Redemption Date shall be an Interest Payment Date) accrued
interest on, all the Securities which are to be redeemed on that date, other than any Securities called for redemption on that date which have been converted prior to the date of such deposit. 

  
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 If any Security called for redemption is converted, any money deposited with the Trustee or
with any Paying Agent or so segregated and held in trust for the redemption of such Security shall (subject to any right of the Holder of such Security or any Predecessor Security to receive interest as provided in the last paragraph of
Section 307 or in the terms of such Security) be paid to the Company upon Company Request or, if then held by the Company, shall be discharged from such trust. 
 SECTION 1106. Securities Payable on Redemption Date. 
 Notice of redemption
having been given as aforesaid, the Securities so to be redeemed shall, on the Redemption Date, become due and payable at the Redemption Price therein specified, and from and after such date (unless the Company shall default in the payment of the
Redemption Price and accrued interest) such Securities shall cease to bear interest. Upon surrender of any such Security for redemption in accordance with said notice, such Security shall be paid by the Company at the Redemption Price, together with
accrued interest to the Redemption Date; provided, however, that, unless otherwise specified as contemplated by Section 301, installments of interest whose Stated Maturity is on or prior to the Redemption Date will be payable to the
Holders of such Securities, or one or more Predecessor Securities, registered as such at the close of business on the relevant Record Dates according to their terms and the provisions of Section 307. 

If any Security called for redemption shall not be so paid upon surrender thereof for redemption, the principal and any premium shall,
until paid, bear interest from the Redemption Date at the rate prescribed therefor in the Security. 
 SECTION 1107.
Securities Redeemed in Part. 
 Any Security which is to be redeemed only in part shall be surrendered at a Place of Payment
therefor (with, if the Company or the Trustee so requires, due endorsement by, or a written instrument of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder thereof or his attorney duly authorized in writing),
and the Company shall execute, and the Trustee shall authenticate and deliver to the Holder of such Security without service charge, a new Security or Securities of the same series and of like tenor, of any authorized denomination as requested by
such Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Security so surrendered. 
 ARTICLE XII 
 SINKING FUNDS 

SECTION 1201. Applicability of Article. 
 The provisions of this Article shall be applicable to any sinking fund for the retirement of Securities of any series except as otherwise specified as contemplated by Section 301 for such Securities.

 The minimum amount of any sinking fund payment provided for by the terms of any Securities is herein referred to as a
“mandatory sinking fund payment”, and any payment in excess of such minimum amount provided for by the terms of such Securities is herein referred 

  
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to as an “optional sinking fund payment”. If provided for by the terms of any Securities, the cash amount of any sinking fund payment may be subject to reduction as provided in
Section 1202. Each sinking fund payment shall be applied to the redemption of Securities as provided for by the terms of such Securities. 
 SECTION 1202. Satisfaction of Sinking Fund Payments with Securities. 
 The
Company (1) may deliver Outstanding Securities of a series (other than any previously called for redemption) and (2) may apply as a credit Securities of a series which have been converted in accordance with their terms or which have been
redeemed either at the election of the Company pursuant to the terms of such Securities or through the application of permitted optional sinking fund payments pursuant to the terms of such Securities, in each case in satisfaction of all or any part
of any sinking fund payment with respect to any Securities of such series required to be made pursuant to the terms of such Securities as and to the extent provided for by the terms of such Securities; provided that the Securities to be so credited
have not been previously so credited. The Securities to be so credited shall be received and credited for such purpose by the Trustee at the Redemption Price, as specified in the Securities so to be redeemed (or at such other prices as may be
specified for such Securities as contemplated in Section 301), for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly. 

SECTION 1203. Redemption of Securities for Sinking Fund. 
 Not less than 90 days (or such shorter period as shall be satisfactory to the Trustee) prior to each sinking fund payment date for any Securities, the Company will deliver to the Trustee an Officers’
Certificate specifying the amount of the next ensuing sinking fund payment for such Securities pursuant to the terms of such Securities, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which
is to be satisfied by delivering and crediting Securities pursuant to Section 1202 and will also deliver to the Trustee any Securities to be so delivered. Not less than 60 days prior to each such sinking fund payment date, the Trustee shall
select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 1103 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in
Section 1104. Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 1106 and 1107. 
 ARTICLE XIII 
 DEFEASANCE AND COVENANT DEFEASANCE 

SECTION 1301. Company’s Option to Effect Defeasance or Covenant Defeasance. 

The Company may elect, at its option at any time, to have Section 1302 or Section 1303 applied to any Securities or any series
of Securities, as the case may be, designated pursuant to Section 301(15) as being defeasible pursuant to such Section 1302 or 1303, in accordance with any applicable requirements provided pursuant to Section 301 and upon compliance
with the 

  
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conditions set forth below in this Article. Any such election shall be evidenced by a Board Resolution or in another manner specified as contemplated by Section 301 for such Securities.

 SECTION 1302. Defeasance and Discharge. 
 Upon the Company’s exercise of its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, the Company shall be deemed to have been discharged
from its obligations, and the provisions of Article XIV shall cease to be effective, with respect to such Securities as provided in this Section on and after the date the conditions set forth in Section 1304(1) are satisfied (hereinafter called
“Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness represented by such Securities and to have satisfied all its other obligations under
such 
 Securities and this Indenture insofar as such Securities are concerned (and the Trustee, at the expense of the Company,
shall execute proper instruments acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of such Securities to receive, solely from the trust fund
described in Section 1304 and as more fully set forth in such Section, payments in respect of the principal of and any premium and interest on such Securities when payments are due, (2) the Company’s obligations with respect to such
Securities under Sections 304, 305, 306, 1002 and 1003, (3) the rights, powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article. Subject to compliance with this Article, the Company may exercise its option (if
any) to have this Section applied to any Securities notwithstanding the prior exercise of its option (if any) to have Section 1303 applied to such Securities. 
 SECTION 1303. Covenant Defeasance. 
 Upon the Company’s exercise of
its option (if any) to have this Section applied to any Securities or any series of Securities, as the case may be, (1) the Company shall be released from its obligations under Section 801(3) and any covenants provided pursuant to
Section 301(18), 901(2) or 901(7) for the benefit of the Holders of such Securities, (2) the occurrence of any event specified in Sections 501(4) (with respect to Section 801(3), and any such covenants provided pursuant to
Section 301(18), 901(2) or 901(7)) and 501(7) shall be deemed not to be or result in an Event of Default and (3) the provisions of Article XIV shall cease to be effective, in each case with respect to such Securities as provided in this
Section on and after the date the conditions set forth in Section 1304 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such Covenant Defeasance means that, with respect to such Securities, the
Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such specified Section (to the extent so specified in the case of Section 501(4)) or Article XIV, whether directly or
indirectly by reason of any reference elsewhere herein to any such Section or Article or by reason of any reference in any such Section or Article to any other provision herein or in any other document, but the remainder of this Indenture and such
Securities shall be unaffected thereby. 

  
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 SECTION 1304. Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to the application of Section 1302 or Section 1303 to any Securities or any series of
Securities, as the case may be: 
 (1) The Company shall irrevocably have deposited or caused to be deposited
with the Trustee (or another trustee which satisfies the requirements contemplated by Section 609 and agrees to comply with the provisions of this Article applicable to it) as trust funds in trust for the purpose of making the following
payments, specifically pledged as security for, and dedicated solely to, the benefits of the Holders of such Securities, (A) money in an amount, or (B) U.S. Government Obligations which through the scheduled payment of principal and
interest in respect thereof in accordance with their terms will provide, not later than one day before the due date of any payment, money in an amount, or (C) such other obligations or arrangements as may be specified as contemplated by
Section 301 with respect to such Securities, or (D) a combination thereof, in each case sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to
the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such other qualifying trustee) to pay and discharge, the principal of and any premium and interest on such Securities on the respective Stated Maturities, in
accordance with the terms of this Indenture and such Securities. As used herein, “U.S. Government Obligation” means (x) any security which is (i) a direct obligation of the United States of America for the payment
of which the full faith and credit of the United States of America is pledged or (ii) an obligation of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is
unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in either case (i) or (ii), is not callable or redeemable at the option of the issuer thereof, and (y) any depositary receipt issued
by a bank (as defined in Section 3(a) (2) of the Securities Act) as custodian with respect to any U.S. Government Obligation which is specified in Clause (x) above and held by such bank for the account of the holder of such depositary
receipt, or with respect to any specific payment of principal of or interest on any U.S. Government Obligation which is so specified and held, provided that (except as required by law) such custodian is not authorized to make any deduction from the
amount payable to the holder of such depositary receipt from any amount received by the custodian in respect of the U.S. Government Obligation or the specific payment of principal or interest evidenced by such depositary receipt. 

(2) In the event of an election to have Section 1302 apply to any Securities or any series of Securities, as the case
may be, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (B) since the date of this instrument,
there has been a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the Holders of such Securities will not recognize gain or loss for Federal
income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same

  
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manner and at the same times as would be the case if such deposit, Defeasance and discharge were not to occur. 

(3) In the event of an election to have Section 1303 apply to any Securities or any series of Securities, as the case
may be, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the Holders of such Securities will not recognize gain or loss for Federal income tax purposes as a result of the deposit and Covenant Defeasance to be
effected with respect to such Securities and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such deposit and Covenant Defeasance were not to occur. 

(4) The Company shall have delivered to the Trustee an Officers’ Certificate to the effect that neither such
Securities nor any other Securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit. 
 (5) No event which is, or after notice or lapse of time or both would become, an Event of Default with respect to such Securities or any other Securities (other than such an event or Event of Default
solely with respect to such Securities resulting from the borrowing of funds to be applied to such deposit) shall have occurred and be continuing at the time of such deposit. 

(6) Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under,
any other agreement or instrument to which the Company is a party or by which it is bound. 
 (7) The Company
shall have delivered to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders of such Securities over the other creditors of the Company or with the intent of
defeating, hindering, delaying or defrauding creditors of the Company. 
 (8) The Company shall have delivered to
the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 

SECTION 1305. Deposited Money and U.S. Government Obligations to Be Held in Trust; Miscellaneous Provisions. 

Subject to the provisions of the last paragraph of Section 1003, all money and U.S. Government Obligations (including the proceeds
thereof) deposited with the Trustee or other qualifying trustee (solely for purposes of this Section and Section 1306, the Trustee and any such other trustee are referred to collectively as the “Trustee”) pursuant to
Section 1304 in respect of any Securities shall be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any such Paying Agent (including
the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of such Securities, of all sums due and to become due thereon in respect of principal and any premium and interest, but money so held in trust need not be
segregated from other funds except to the extent required by law. Money and U.S. Government Obligations (including 

  
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the proceeds thereof) so held in trust shall not be subject to the provisions of Article XIV, provided that the applicable conditions of the Section 1304 have been satisfied. 

The Company shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the U.S. Government
Obligations deposited pursuant to Section 1304 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of Outstanding Securities. 

Anything in this Article to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon Company
Request any money or U.S. Government Obligations held by it as provided in Section 1304 with respect to any Securities which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee, are in excess of the amount thereof which would then be required to be deposited to effect the Defeasance or Covenant Defeasance, as the case may be, with respect to such Securities. 

SECTION 1306. Reinstatement. 
 If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article with respect to any Securities by reason of any order or judgment of any court or governmental authority
enjoining, restraining or otherwise prohibiting such application, then the obligations under this Indenture and such Securities from which the Company has been discharged or released pursuant to Section 1302 or 1303 shall be revived and
reinstated as though no deposit had occurred pursuant to this Article with respect to such Securities, until such time as the Trustee or Paying Agent is permitted to apply all money held in trust pursuant to Section 1305 with respect to such
Securities in accordance with this Article; provided, however, that if the Company makes any payment of principal of or any premium or interest on any such Security following such reinstatement of its obligations, the Company shall be
subrogated to the rights (if any) of the Holders of such Securities to receive such payment from the money so held in trust. 

ARTICLE XIV 

SUBORDINATION OF SECURITIES 
 SECTION 1401. Securities Subordinate to Senior Debt. 
 The Company
covenants and agrees, and each Holder of a Security, by his acceptance thereof, likewise covenants and agrees, that, to the extent and in the manner hereinafter set forth in this Article, the indebtedness represented by the Securities and the
payment of the principal of (and premium, if any) and interest on each and all of the Securities are hereby expressly made subordinate and subject in right of payment to the prior payment in full of all Senior Debt. 

Notwithstanding the foregoing, if a deposit referred to in Section 1304(1) is made pursuant to Section 1302 or
Section 1303 with respect to any Securities (and provided all other conditions set out in Section 1302 or 1303, as applicable, shall have been satisfied with respect to such Securities), then no money or U.S. Government Obligations so
deposited, and no proceeds thereon, will be subject to any rights of holders of Senior Debt, including any such rights arising under this Article XIV. 

  
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 SECTION 1402. Payment Over of` Proceeds Upon Dissolution, Etc. 

In the event of (a) any insolvency or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other
similar case or proceeding in connection therewith, relative to the Company or to its creditors, as such, or to its assets, or (b) any liquidation, dissolution or other winding up of the Company, whether voluntary or involuntary and whether or
not involving insolvency or bankruptcy, or (c) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the Company, then and in any such event the holders of Senior Debt shall be entitled to receive
payment in full of all amounts due or to become due on or in respect of all Senior Debt (including any interest accruing thereon after the commencement of any such case or proceeding), or provision shall be made for such payment in cash or cash
equivalents or otherwise in a manner satisfactory to the holders of Senior Debt, before the Holders of the Securities are entitled to receive any payment on account of principal of (or premium, if any) or interest on the Securities, and to that end
the holders of Senior Debt shall be entitled to receive, for application to the payment thereof, any payment or distribution of any kind or character, whether in cash, property or securities, including any such payment or distribution which may be
payable or deliverable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities, which may be payable or deliverable in respect of the Securities in any such case, proceeding, dissolution,
liquidation or other winding up event. 
 In the event that, notwithstanding the foregoing provisions of this Section, the
Trustee or the Holder of any Security shall have received any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, including any such payment or distribution which may be payable or
deliverable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities, before all Senior Debt is paid in full or payment thereof provided for, and if such fact shall, at or prior to the
time of such payment or distribution, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such payment or distribution shall be paid over or delivered forthwith to the trustee in bankruptcy, receiver,
liquidating trustee, custodian, assignee, agent or other Person making payment or distribution of assets of the Company for application to the payment of all Senior Debt remaining unpaid, to the extent necessary to pay all Senior Debt in full, after
giving effect to any concurrent payment or distribution to or for the holders of Senior Debt. Any taxes that have been withheld or deducted from any payment or distribution in respect of the Securities, or any taxes that ought to have been withheld
or deducted from any such payment or distribution that have been remitted to the relevant taxing authority, shall not be considered to be an amount that the Trustee or the Holder of any Security receives for purposes of this Section. 

For purposes of this Article only, the words “cash, property or securities” shall not be deemed to include shares of stock of
the Company as reorganized or readjusted, or securities of the Company or any other corporation or other entity, provided for by a plan of reorganization or readjustment which are subordinated in right of payment to all Senior Debt which may at the
time be outstanding to substantially the same extent as, or to a greater extent than, the Securities are so subordinated as provided in this Article. The consolidation of the Company with, or the merger of the Company into, or the conveyance,
transfer or lease by the Company of all or substantially all its properties and assets to, another Person upon the terms and conditions set 

  
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forth in Article VIII, or the liquidation or dissolution of the Company following any such conveyance or transfer, shall not be deemed a dissolution, winding up, liquidation, reorganization,
assignment for the benefit of creditors or marshalling of assets and liabilities of the Company for the purposes of this Section if the Person formed by such consolidation or into which the Company is merged or the Person which acquires by
conveyance, transfer or lease all or substantially all of such properties and assets, as the case may be, shall, as a part of such consolidation, merger, conveyance, transfer or lease, comply with the conditions set forth in Article VIII.

 SECTION 1403. Prior Payment to Senior Debt Upon Acceleration of Securities. 

In the event that any Securities are declared due and payable before their Stated Maturity, then and in such event the holders of Senior
Debt shall be entitled to receive payment in full of all amounts due or to become due on or in respect of all Senior Debt or provision shall be made for such payment in cash, before the Holders of the Securities are entitled to receive any payment
(including any payment which may be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities) by the Company on account of the principal of (or premium, if any) or interest on the
Securities or on account of the purchase or other acquisition of Securities; provided, however, that nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article XII by delivering and crediting
pursuant to Section 1202 Securities which have been acquired (upon redemption or otherwise) prior to such declaration of acceleration. 
 In the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee or the Holder of any Security prohibited by the foregoing provisions of this Section, and if such fact
shall, at or prior to the time of such payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such payment shall be paid over and delivered forthwith to the Company. 

SECTION 1404. No Payment When Senior Debt in Default. 
 Subject to the last paragraph of this Section, (a) (i) in the event and during the continuation of any default in the payment of principal of (or premium, if any) or interest on any Senior Debt
beyond any applicable grace period with respect thereto, or (ii) in the event that any event of default with respect to any Senior Debt shall have occurred and be continuing permitting the holders of such Senior Debt (or a trustee on behalf of
the holders thereof) to declare such Senior Debt due and payable prior to the date on which it would otherwise have become due and payable, whether or not such Senior Debt has been so accelerated (provided that, in the case of Clause (i) or
Clause (ii), if such default in payment or event of default shall have been cured or waived or shall have ceased to exist and any such declaration of acceleration shall have been rescinded or annulled, then such default in payment or event of
default, as the case may be, shall be deemed not to have occurred for the purposes of this Section), or (b) in the event that any judicial proceeding shall be pending with respect to any such default in payment or event of default that shall be
deemed to have occurred for the purpose of this Section, then no payment (including any payment which may be payable by reason of the payment of any other indebtedness of the Company being subordinated to the payment of the Securities) shall be made

  
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by the Company on account of principal of (or premium, if any) or interest on the Securities or on account of the purchase or other acquisition of Securities; provided, however, that
nothing in this Section shall prevent the satisfaction of any sinking fund payment in accordance with Article XII by delivering and crediting pursuant to Section 1202 Securities which have been acquired (upon redemption or otherwise) prior to
such default in payment. 
 In the event that, notwithstanding the foregoing, the Company shall make any payment to the Trustee
or the Holder of any Security prohibited by the provisions of this Section, and if such fact shall, at or prior to the time of such payment, have been made known to the Trustee or, as the case may be, such Holder, then and in such event such payment
shall be paid over and delivered forthwith to the Company. 
 No default in payment or event of default with respect to any
Senior Debt shall be deemed to be a default in payment or event of default of the kind specified in Clause (a) (i) or (a) (ii) of this Section, and no judicial proceeding with respect to any such default in payment or event of
default shall be deemed to be a judicial proceeding of the kind specified in Clause (b) of this Section, if (x) the Company shall be disputing the occurrence or continuation of such default in payment or event of default, or any obligation
purportedly giving rise to such default in payment or event of default, and (y) no final judgment holding that such default in payment or event of default has occurred and is continuing shall have been issued. For this purpose, a “final
judgment” means a judgment that is issued by a court having jurisdiction over the Company or its property, is binding on the Company or its property, is in full force and effect and is not subject to judicial appeal or review (including because
the time within which a party may seek appeal or review has expired), provided that, if any such judgment has been issued but is subject to judicial appeal or review, it shall nevertheless be deemed to be a final judgment unless the Company shall in
good faith be prosecuting such appeal or a proceeding for such review and shall have obtained a stay of execution pending such appeal or review. Notwithstanding the foregoing, this paragraph shall not apply to any default in payment or event of
default with respect to any Senior Debt as to which the Company has waived the application of this paragraph in the instrument evidencing such Senior Debt or by which such Senior Debt is created, incurred, assumed or guaranteed by the Company.

 SECTION 1405. Payment Permitted in Certain Situations. 

Nothing contained in this Article or elsewhere in this Indenture or in any of the Securities shall prevent (a) the Company, at any
time except during the pendency of any case, proceeding, dissolution, liquidation or other winding up, assignment for the benefit of creditors or other marshalling of assets and liabilities of the Company referred to in Section 1402 or under
the conditions described in Section 1403 or 1404, from making payments at any time of or on account of the principal of (and premium, if any) or interest on the Securities, or on account of the purchase or other acquisition of Securities, or
(b) the application by the Trustee of any money deposited with it hereunder to the payment of or on account of the principal of (and premium, if any) or interest on the Securities or the retention of such payment by the Holders, if, at the time
of such application by the Trustee, it did not have knowledge that such payment would have been prohibited by the provisions of this Article. 

  
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 SECTION 1406. Subrogation to Rights of Holders of Senior Debt. 

Subject to the payment in full of all Senior Debt or the provision for such payment in cash or cash equivalents or otherwise in a manner
satisfactory to the holders of Senior Debt, the Holders of the Securities shall be subrogated to the extent of the payments or distributions made to the holders of such Senior Debt pursuant to the provisions of this Article (equally and ratably with
the holders of indebtedness of the Company which by its express terms is subordinated to indebtedness of the Company to substantially the same extent as the Securities are subordinated to the Senior Debt and is entitled to like rights of
subrogation) to the rights of the holders of such Senior Debt to receive payments and distributions of cash, property and securities applicable to the Senior Debt until the principal of (and premium, if any) and interest on the Securities shall be
paid in full. For purposes of such subrogation, no payments or distributions to the holders of the Senior Debt of any cash, property or securities to which the Holders of the Securities or the Trustee would be entitled except for the provisions of
this Article, and no payments over pursuant to the provisions of this Article to the holders of Senior Debt by Holders of the Securities or the Trustee, shall, as among the Company, its creditors other than holders of Senior Debt and the Holders of
the Securities, be deemed to be a payment or distribution by the Company to or on account of the Senior Debt. 
 SECTION
1407. Provisions Solely to Define Relative Rights. 
 The provisions of this Article are and are intended solely for the
purpose of defining the relative rights of the Holders of the Securities on the one hand and the holders of Senior Debt on the other hand. Nothing contained in this Article or elsewhere in this Indenture or in the Securities is intended to or shall
(a) impair, as among the Company, its creditors other than holders of Senior Debt and the Holders of the Securities, the obligation of the Company, which is absolute and unconditional (and which, subject to the rights under this Article of the
holders of Senior Debt, is intended to rank equally with all other general obligations of the Company), to pay to the Holders of the Securities the principal of (and premium, if any) and interest on the Securities as and when the same shall become
due and payable in accordance with their terms; or (b) affect the relative rights against the Company of the Holders of the Securities and creditors of the Company other than the holders of Senior Debt; or (c) prevent the Trustee or the
Holder of any Security from exercising all remedies otherwise permitted by applicable law upon default under this Indenture, subject to the rights, if any, under this Article of the holders of Senior Debt to receive cash, property and securities
otherwise payable or deliverable to the Trustee or such Holder. 
 SECTION 1408. Trustee to Effectuate Subordination.

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

  
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 SECTION 1409. No Waiver of Subordination Provisions. 

No right of any present or future holder of any Senior Debt to enforce subordination as herein provided shall at any time in any way be
prejudiced or impaired by any act or failure to act on the part of the Company or by any act or failure to act, in good faith, by any such holder, or by any non-compliance by the Company with the terms, provisions and covenants of this Indenture,
regardless of any knowledge thereof any such holder may have or be otherwise charged with. 
 Without in any way limiting the
generality of the foregoing paragraph, the holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the Trustee or the Holders of the Securities, without incurring responsibility to the Holders of the
Securities and without impairing or releasing the subordination provided in this Article or the obligations hereunder of the Holders of the Securities to the holders of Senior Debt do any one or more of the following: (i) change the manner,
place or terms of payment or extend the time of payment of, or renew or alter, Senior Debt or otherwise amend or supplement in any manner Senior Debt or any instrument evidencing the same or any agreement under which Senior Debt is outstanding;
(ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the collection of Senior Debt; and (iv) exercise or refrain from
exercising any rights against the Company and any other Person. 
 SECTION 1410. Notice to Trustee. 

The Company shall give prompt written notice to the Trustee of any fact known to the Company which would prohibit the making of any
payment to or by the Trustee in respect of the Securities. Notwithstanding the provisions of this Article or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts which would prohibit
the making of any payment to or by the Trustee in respect of the Securities, unless and until the Trustee shall have received written notice thereof from the Company or a holder of Senior Debt or from any trustee therefor; and, prior to the receipt
of any such written notice, the Trustee, subject to the provisions of Section 601, shall be entitled in all respects to assume that no such facts exist. 
 Subject to the provisions of Section 601, the Trustee shall be entitled to rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Debt (or a trustee
therefor) to establish that such notice has been given by a holder of Senior Debt (or a trustee therefor). In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder
of Senior Debt to participate in any payment or distribution pursuant to this Article, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of Senior Debt held by such Person, the
extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article, and if such evidence is not furnished, the Trustee may defer any payment to such
Person pending judicial determination as to the right of such Person to receive such payment. 

  
 65 

 SECTION 1411. Reliance on Judicial Order or Certificate of Liquidating Agent.

 Upon any payment or distribution of assets of the Company referred to in this Article, the Trustee, subject to the
provisions of Section 601, and the Holders of the Securities shall be entitled to rely upon any order or decree entered by any court of competent jurisdiction in which such insolvency, bankruptcy, receivership, liquidation, reorganization,
dissolution, winding up or similar case or proceeding is pending, or a certificate of the trustee in bankruptcy, receiver, liquidating trustee, custodian, assignee for the benefit of creditors, agent or other Person making such payment or
distribution, delivered to the Trustee or to the Holders of Securities, f or the purpose of ascertaining the Persons entitled to participate in such payment or distribution, the holder5 of Senior Debt and other indebtedness of the Company, the
amount thereof or payable thereon, the amount or amounts paid or distributed thereon and all other facts pertinent thereto or to this Article. 
 SECTION 1412. Trustee Not Fiduciary for Holders of Senior Debt. 
 The
Trustee shall not be deemed to owe any fiduciary duty to the holders of Senior Debt and shall not be liable to any such holders or creditors if it shall in good faith pay over or distribute to Holders of Securities or to the Company or to any other
Person cash, property or securities to which any holders of Senior Debt shall be entitled by virtue of this Article or otherwise. With respect to the holders of Senior Debt, the Trustee undertakes to perform or to observe only such of its covenants
or obligations as are specifically set forth in this Article and no implied covenants or obligations with respect to holders of Senior Debt shall be read into this Indenture against the Trustee. 

SECTION 1413. Rights of Trustee as Holder of Senior Debt; Preservation of Trustees Rights. 

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

Nothing in this Article shall apply to claims of, or payments to, the Trustee under or pursuant to Section 607. 

SECTION 1414. Article Applicable to Paying Agents. 
 In case at any time any Paying Agent other than the Trustee shall have been appointed by the Company and be then acting hereunder, the term “Trustee” as used in this Article shall in such case
(unless the context otherwise requires) be construed as extending to and including such Paying Agent within its meaning as fully for all intents and purposes as if such Paying Agent were named in this Article in addition to or in place of the
Trustee. 
 This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument. 

  
 66 

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

			
	GULFPORT ENERGY CORPORATION
		
	By:	 	 
	
	[TRUSTEE]
		
	By:Facility Agreement

 Exhibit 10.1 
 

 
 EXECUTION COPY 
 USD400,000,000 
 FACILITY AGREEMENT 

dated 8 July 2011 
 for 
 WABCO HOLDINGS INC. 

arranged by 

BANC OF AMERICA SECURITIES LIMITED 
 CITIGROUP GLOBAL MARKETS LIMITED 
 FORTIS BANK S.A./N.V. 

ING BELGIUM SA/NV 

SOCIETE GENERALE CORPORATE & INVESTMENT BANKING 
 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. 
 THE ROYAL BANK OF SCOTLAND NV, (BELGIUM)
BRANCH 
 and 
 CREDIT LYONNAIS 
 UNICREDIT BANK AG 

with 
 BANC OF
AMERICA SECURITIES LIMITED 
 acting as agent 

 
  

MULTICURRENCY REVOLVING FACILITY 
 AGREEMENT 
 INCORPORATING A US DOLLAR SWINGLINE 

FACILITY, A EURO SWINGLINE FACILITY AND A 
 LETTER OF CREDIT FACILITY 
  

 

 CONTENTS 

 

							
	Clause	 	 	  	Page	 
			
	 1.
	 	Definitions and Interpretation	  	 	5	  
			
	 2.
	 	The Facility	  	 	30	  
			
	 3.
	 	Purpose	  	 	32	  
			
	 4.
	 	Conditions of Utilisation	  	 	32	  
			
	 5.
	 	Utilisation - Revolving Facility Loans	  	 	34	  
			
	 6.
	 	Utilisation - Letters of Credit	  	 	35	  
			
	 7.
	 	Letters of Credit	  	 	39	  
			
	 8.
	 	Dollar Swingline Facility	  	 	44	  
			
	 9.
	 	Utilisation - Dollar Swingline Loans	  	 	45	  
			
	 10.
	 	Dollar Swingline Loans	  	 	46	  
			
	 11.
	 	Euro Swingline Facility	  	 	49	  
			
	 12.
	 	Utilisation - Euro Swingline Loans	  	 	49	  
			
	 13.
	 	Euro Swingline Loans	  	 	51	  
			
	 14.
	 	Optional Currencies	  	 	53	  
			
	 15.
	 	Repayment of Loans	  	 	55	  
			
	 16.
	 	Prepayment and Cancellation	  	 	56	  
			
	 17.
	 	Interest	  	 	60	  
			
	 18.
	 	Interest Periods	  	 	61	  
			
	 19.
	 	Changes to the Calculation of Interest	  	 	61	  
			
	 20.
	 	Fees	  	 	62	  
			
	 21.
	 	Tax Gross Up and Indemnities	  	 	64	  
			
	 22.
	 	Increased Costs	  	 	68	  
			
	 23.
	 	Other Indemnities	  	 	70	  
			
	 24.
	 	Mitigation by the Lenders	  	 	71	  
			
	 25.
	 	Costs and Expenses	  	 	72	  
			
	 26.
	 	Guarantee and Indemnity	  	 	73	  
			
	 27.
	 	Representations	  	 	77	  
			
	 28.
	 	Information Undertakings	  	 	82	  
			
	 29.
	 	Financial Covenants	  	 	87	  
			
	 30.
	 	General Undertakings	  	 	91	  
			
	 31.
	 	Events of Default	  	 	96	  
			
	 32.
	 	Changes to the Lenders	  	 	100	  
			
	 33.
	 	Changes to the Obligors	  	 	107	  
			
	 34.
	 	Role of the Agent and the Arranger	  	 	110	  

  
 - 2 -

							
			
	 35.
	 	Conduct of Business by the Finance Parties	  	 	117	  
			
	 36.
	 	Sharing among the Finance Parties	  	 	117	  
			
	 37.
	 	Payment Mechanics	  	 	119	  
			
	 38.
	 	Set-off	  	 	122	  
			
	 39.
	 	Notices	  	 	122	  
			
	 40.
	 	Calculations and Certificates	  	 	124	  
			
	 41.
	 	Partial Invalidity	  	 	125	  
			
	 42.
	 	Remedies and Waivers	  	 	125	  
			
	 43.
	 	Amendments and Waivers	  	 	125	  
			
	 44.
	 	Confidentiality	  	 	126	  
			
	 45.
	 	Counterparts	  	 	130	  
			
	 46.
	 	USA Patriot Act	  	 	130	  
			
	 47.
	 	Governing Law	  	 	131	  
			
	 48.
	 	Enforcement	  	 	131	  
		
	 Schedule 1 The Original Parties
	  	 	131	  
		
	 Part I The Original Obligors
	  	 	131	  
		
	 Part II The Original Lenders
	  	 	132	  
		
	 Schedule 2 Conditions Precedent
	  	 	134	  
		
	 Part I Conditions Precedent to Initial Utilisation
	  	 	134	  
		
	 Part II Conditions Precedent required to be delivered by an Additional Obligor
	  	 	136	  
		
	 Schedule 3 Requests
	  	 	138	  
		
	 Part I Utilisation Request - Revolving Facility Loans
	  	 	138	  
		
	 Part II Utilisation Request - Dollar Swingline Loans
	  	 	139	  
		
	 Part III Utilisation Request - Euro Swingline Loans
	  	 	140	  
		
	 Part IV Utilisation Request - Letters of Credit
	  	 	141	  
		
	 Schedule 4 Mandatory Cost Formula
	  	 	142	  
		
	 Schedule 5 Form of Transfer Certificate
	  	 	145	  
		
	 Schedule 6 Form of Assignment Agreement
	  	 	147	  
		
	 Schedule 7 Form of Accession Letter
	  	 	150	  
		
	 Schedule 8 Form of Resignation Letter
	  	 	151	  
		
	 Schedule 9 Form of Compliance Certificate
	  	 	152	  
		
	 Schedule 10 Existing Security
	  	 	154	  
		
	 Schedule 11 LMA Form of Confidentiality Undertaking
	  	 	155	  
		
	 Schedule 12 Timetables
	  	 	160	  
		
	 Schedule 13 Form of Letter of Credit
	  	 	165	  
		
	 Schedule 14 Facility Approved L/C Beneficiaries
	  	 	168	  
		
	 Schedule 15 Form of Demand
	  	 	169	  

  
 - 3 -

							
		
	 Schedule 16 Form of Commitment Increase Notice
	  	 	170	  
		
	 Schedule 17 Form of Further Lender Accession Letter
	  	 	171	  
		
	 Schedule 18 Designated Entities
	  	 	172	  
		
	 Schedule 19 Designated Entity Accession Letter
	  	 	173	  
		
	 Schedule 20 Existing Letters of Credit
	  	 	174	  

  
 - 4 -

 THIS AGREEMENT is dated 8 July 2011 and made between: 

 

	(1)	WABCO HOLDINGS INC. (the “Company”); 

  

	(2)	THE SUBSIDIARIES of the Company listed in Part I of Schedule 1 (The Original Parties) as original borrowers (together with the Company the
“Original Borrowers”); 

  

	(3)	THE COMPANY as original guarantor (the “Original Guarantor”); 

 

	(4)	BANC OF AMERICA SECURITIES LIMITED, CITIGROUP GLOBAL MARKETS LIMITED, FORTIS BANK S.A./N.V., ING BELGIUM SA/NV, SOCIETE GENERALE CORPORATE & INVESTMENT
BANKING (THE CORPORATE AND INVESTMENT BANKING DIVISION OF SOCIETE GENERALE), THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. and THE ROYAL BANK OF SCOTLAND NV, (BELGIUM) BRANCH, as mandated lead arrangers and bookrunners and CREDIT LYONNAIS
and UNICREDIT BANK AG as lead arrangers (whether acting individually or together the “Arranger”); 

  

	(5)	THE FINANCIAL INSTITUTIONS listed in Part II of Schedule 1 (The Original Parties) as lenders (the “Original Lenders”);

  

	(6)	BANC OF AMERICA SECURITIES LIMITED as coordinator (the “Coordinator”); 

 

	(7)	BANK OF AMERICA, N.A. as issuing bank (the “Issuing Bank”); 

 

	(8)	BANK OF AMERICA, N.A. as dollar swingline lender (the “Original Dollar Swingline Lender”), dollar swingline agent (the “Dollar Swingline
Agent”) and euro swingline lender (the “Original Euro Swingline Lender”); 

  

	(9)	BANC OF AMERICA SECURITIES LIMITED as euro swingline agent (the “Euro Swingline Agent”); and 

 

	(10)	BANC OF AMERICA SECURITIES LIMITED as agent of the other Finance Parties (the “Agent”). 

IT IS AGREED as follows: 

SECTION 1 

INTERPRETATION 
  

	1.	DEFINITIONS AND INTERPRETATION 

  

	1.1	Definitions 

 In this
Agreement: 
 “1940 Act” has the meaning given to it in Clause 27.19 (Investment Companies). 

“Accession Letter” means a document substantially in the form set out in Schedule 7 (Form of Accession Letter).

  
 - 5 -

 “Acceptable Bank” means: 

 

	 	(a)	a bank or financial institution which has a rating for its long-term unsecured and non credit-enhanced debt obligations of BBB+ or higher by Standard &
Poor’s Rating Services or Fitch Ratings Ltd or Baa1 or higher by Moody’s Investor Services Limited or a comparable rating from an internationally recognised credit rating agency; or 

 

	 	(b)	or any other bank or financial institution approved by the Agent and the Issuing Bank. 

“Additional Borrower” means a company which becomes an Additional Borrower in accordance with Clause 33 (Changes to
the Obligors). 
 “Additional Cost Rate” has the meaning given to it in Schedule 4 (Mandatory Cost
formula). 
 “Additional Guarantor” means a company which becomes an Additional Guarantor in accordance with
Clause 33 (Changes to the Obligors). 
 “Additional Obligor” means an Additional Borrower or an
Additional Guarantor. 
 “Affiliate” means, in relation to any person, a Subsidiary of that person or a Holding
Company of that person or any other Subsidiary of that Holding Company and in respect of The Royal Bank of Scotland plc, the term “Affiliate” means The Royal Bank of Scotland plc, each of its holding companies and subsidiaries and
each subsidiary of each of its holding companies (as each such term is defined under the Companies Act 2006). Notwithstanding the foregoing, the term “Affiliate” in respect of The Royal Bank of Scotland NV, (Belgium) Branch shall
not include (i) the UK government or any member or instrumentality thereof, including Her Majesty’s Treasury and UK Financial Investments Limited (or any directors, officers, employees or entities thereof) or (ii) any persons or
entities controlled by or under common control with the UK government or any member or instrumentality thereof (including Her Majesty’s Treasury and UK Financial Investments Limited) and which are not part of The Royal Bank of Scotland Group
plc and its subsidiary or subsidiary undertakings. 
 “Agent’s Spot Rate of Exchange” means the
Agent’s spot rate of exchange for the purchase of the relevant currency with the Base Currency in the London foreign exchange market at or about 11:00 a.m. on a particular day. 

“Applicable Margin” means the percentage rate per annum set out below opposite the corresponding Ratio of Consolidated
Net Indebtedness to Consolidated EBITDA, as determined under Clause 29 (Financial Covenants). 
  

					
	Ratio of Consolidated Net Indebtedness to Consolidated EBITDA	  	Applicable
Margin	 
		
	 Greater than or equal to 2.5:1
	  	 	1.55	% 
		
	 Greater than or equal to 2:1
	  	 	1.20	% 
		
	 Greater than or equal to 1.5:1
	  	 	1.00	% 
		
	 Greater than or equal to 1:1
	  	 	0.90	% 
		
	 Less than 1:1
	  	 	0.80	% 

  
 - 6 -

 Any change in the Applicable Margin from time to time shall take effect immediately after
receipt by the Agent of the relevant Compliance Certificate delivered pursuant to Clause 28.2 (Compliance Certificate). Immediately upon the occurrence of a Default and while it is continuing, the Applicable Margin shall be 1.55% and no
reduction shall be applied unless and until the Agent is satisfied that such Default has been remedied, whereupon such reduction shall take effect immediately. 
 “Assignment Agreement” means an agreement substantially in the form set out in Schedule 6 (Form of Assignment Agreement) or any other form agreed between the relevant assignor and
assignee. 
 “Authorisation” means an authorisation, consent, approval, resolution, licence, exemption, filing,
notarisation or registration. 
 “Availability Period” means the period from and including the date of this
Agreement to and including the date falling one Month before the Termination Date. 
 “Available Commitment”
means a Lender’s Commitment minus (subject as set out below): 
  

	 	(a)	the Base Currency Amount of its and any Designated Entity’s participation in any outstanding Utilisations; and 

 

	 	(b)	in relation to any proposed Utilisation, the Base Currency Amount of its and any Designated Entity’s participation in any other Utilisations that are due to be
made on or before the proposed Utilisation Date. 

 For the purposes of calculating a Lender’s Available
Commitment in relation to any proposed Utilisation, that Lender’s and any Designated Entity’s participation in any Utilisations that are due to be repaid or prepaid on or before the proposed Utilisation Date shall not be deducted from a
Lender’s Commitment. 
 “Available Dollar Swingline Facility” means (but without limiting Clause 9.4
(Relationship with the Revolving Facility)) the Swingline Amount minus: 
  

	 	(a)	any outstanding Dollar Swingline Loans; 

  

	 	(b)	in relation to any proposed Utilisation under the Dollar Swingline Facility, any other Dollar Swingline Loans that are due to be made under the Dollar Swingline
Facility on or before the proposed Utilisation Date; 

  

	 	(c)	the Base Currency Amount of any outstanding Euro Swingline Loans (except for any Euro Swingline Loans which are due to be repaid or prepaid on or before the proposed
Utilisation Date); and 

  
 - 7 -

	 	(d)	in relation to any proposed Utilisation under the Euro Swingline Facility, the Base Currency Amount of any other Euro Swingline Loans that are due to be made under the
Euro Swingline Facility on or before the proposed Utilisation Date. 

 For the purposes of calculating the
Available Dollar Swingline Facility in relation to any proposed Utilisation of the Dollar Swingline Facility the amount of any Dollar Swingline Loans and the Base Currency Amount of any Euro Swingline Loans that are due to be repaid on or before the
proposed Utilisation Date shall not be deducted from the Swingline Amount. 
 “Available Euro Swingline
Facility” means (but without limiting Clause 12.4 (Relationship with the Revolving Facility)) the euro equivalent of the Swingline Amount minus: 
  

	 	(a)	the Base Currency Amount of any outstanding Euro Swingline Loans; 

  

	 	(b)	in relation to any proposed Utilisation under the Euro Swingline Facility, the Base Currency Amount of any other Euro Swingline Loans that are due to be made under the
Euro Swingline Facility on or before the proposed Utilisation Date; 

  

	 	(c)	any outstanding Dollar Swingline Loans; and 

  

	 	(d)	in relation to any proposed Utilisation under the Dollar Swingline Facility, any other Dollar Swingline Loans that are due to be made under the Dollar Swingline
Facility on or before the proposed Utilisation Date. 

 For the purposes of calculating the Available Euro
Swingline Facility in relation to any proposed Utilisation of the Euro Swingline Facility, the amount of any Dollar Swingline Loans and the Base Currency Amount of any Euro Swingline Loans that are due to be repaid on or before the proposed
Utilisation Date shall not be deducted from the Swingline Amount. 
 “Available Facility” means the aggregate
for the time being of each Lender’s Available Commitment. 
 “Bank of America Prime Rate” means in respect
of any Dollar Swingline Loan for any day, the rate per annum which is the published prime rate of Bank of America, N.A. in New York City in force on such date displayed on such web page as the Agent shall notify the Company from time to time.

 “Base Currency” means US Dollars. 
 “Base Currency Amount” means, in relation to a Utilisation, the amount specified in the Utilisation Request delivered by a Borrower for that Utilisation (or, if the amount requested is
not denominated in the Base Currency, that amount converted into the Base Currency at the Agent’s Spot Rate of Exchange on the date the Agent receives the Utilisation Request adjusted to reflect any repayment, prepayment, consolidation or
division of the Utilisation and, in the case of a Letter of Credit, as adjusted under Clause 6.9 (Revaluation of Letters of Credit). 

  
 - 8 -

 “Belgian Obligor” means any Obligor incorporated in Belgium. 

“Borrower” means an Original Borrower or an Additional Borrower unless it has ceased to be a Borrower in accordance with
Clause 33 (Changes to the Obligors). 
 “Break Costs” means the amount (if any) by which: 

 

	 	(a)	the interest (excluding Margin and Mandatory Costs) which a Lender should have received for the period from the date of receipt of all or any part of its participation
in a Loan or Unpaid Sum to the last day of the current Interest Period in respect of that Loan or Unpaid Sum, had the principal amount or Unpaid Sum received been paid on the last day of that Interest Period; 

exceeds: 
  

	 	(b)	the amount which that Lender would be able to obtain by placing an amount equal to the principal amount or Unpaid Sum received by it on deposit with a leading bank in
the Relevant Interbank Market for a period starting on the Business Day following receipt or recovery and ending on the last day of the current Interest Period. 

 “Business Day” means a day (other than a Saturday or Sunday) on which banks are open for general business in London and New York City and: 

 

	 	(a)	(in relation to any date for payment or purchase of euro) any TARGET Day; or 

 

	 	(b)	(in relation to any date for payment or purchase of Hong Kong Dollars) Hong Kong; or 

 

	 	(c)	(in relation to any date for payment or purchase of Singapore Dollars) Singapore; or 

 

	 	(d)	(in relation to any date for payment or purchase of any other currency) the principal financial centre of the country of that currency. 

“Code” means the U.S. Internal Revenue Code of 1986 (or any successor legislation thereto) as amended from time to time,
and the regulations promulgated and rulings issued thereunder, all as the same may be in effect at such date. 

“Commitment” means: 
  

	 	(a)	in relation to an Original Lender, the amount in the Base Currency set opposite its name under the heading “Commitment” in Part II of Schedule 1
(The Original Parties) and the amount of any other Commitment transferred to it under this Agreement or assumed by it in accordance with Clause 2.2 (Increase in Total Commitments); and 

 

	 	(b)	in relation to any other Lender, the amount in the Base Currency of any Commitment transferred to it under this Agreement or assumed by it in accordance with Clause 2.2
(Increase in Total Commitments), 

  
 - 9 -

 to the extent not cancelled, reduced or transferred by it under this Agreement and which in
each case includes such Lender’s commitment in respect of the Swingline Facilities and Letters of Credit. 

“Commitment Increase Notice” means a notice substantially in the form set out in Schedule 16 (Form of Commitment
Increase Notice). 
 “Compliance Certificate” means a certificate substantially in the form set out in
Schedule 9 (Form of Compliance Certificate). 
 “Confidential Information” means all information relating
to the Company, any Obligor, the Group, the Finance Documents or the Facility of which a Finance Party becomes aware in its capacity as, or for the purpose of becoming, a Finance Party or which is received by a Finance Party in relation to, or for
the purpose of becoming a Finance Party under, the Finance Documents or the Facility from either: 
  

	 	(a)	any member of the Group or any of its advisers; or 

  

	 	(b)	another Finance Party, if the information was obtained by that Finance Party directly or indirectly from any member of the Group or any of its advisers,

 in whatever form, and includes information given orally and any document, electronic file or any other way of
representing or recording information which contains or is derived or copied from such information but excludes information that: 
  

	 	(i)	is or becomes public information other than as a direct or indirect result of any breach by that Finance Party of Clause 44 (Confidentiality); or

  

	 	(ii)	is identified in writing at the time of delivery as non-confidential by any member of the Group or any of its advisers; or 

 

	 	(iii)	is known by that Finance Party before the date the information is disclosed to it in accordance with paragraphs (a) or (b) above or is lawfully obtained by
that Finance Party after that date, from a source which is, as far as that Finance Party is aware, unconnected with the Group and which, in either case, as far as that Finance Party is aware, has not been obtained in breach of, and is not otherwise
subject to, any obligation of confidentiality. 

 “Confidentiality Undertaking” means a
confidentiality undertaking substantially in a recommended form of the LMA as set out in Schedule 11 (LMA Form of Confidentiality Undertaking) or in any other form agreed between the Company and the Agent. 

“Consolidated Total Assets” means, with respect to any person, the aggregate amount of assets of such person (less
applicable reserves and other properly deductible items). 
 “Debtdomain Information” means the documents and
information in the form approved by the Company concerning the Group which, at the Company’s request and 

  
 - 10 -

 
on its behalf, was prepared in relation to this transaction and distributed by the Arranger to selected financial institutions on Debtdomain before the date of this Agreement. 

“Default” means an Event of Default or any event or circumstance specified in Clause 31 (Events of Default) which
would (with the expiry of a grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) be an Event of Default. 

“Defaulting Lender” means any Lender: 
  

	 	(a)	which has failed to make its participation in a Loan available or has notified the Agent that it will not make its participation in a Loan available by the Utilisation
Date of that Loan in accordance with Clause 5.4 (Lenders’ participation), Clause 10.1 (Dollar Swingline Loan Participation) or Clause 13.1 (Euro Swingline Loan Participation) or has failed to provide cash collateral (or has
notified the Issuing Bank that it will not provide cash collateral) in accordance with Clause 7.6 (Cash collateral by Non-Acceptable L/C Lender); 

  

	 	(b)	which has otherwise rescinded or repudiated a Finance Document; or 

  

	 	(c)	with respect to which an Insolvency Event has occurred and is continuing, 

 unless, in the case of paragraph (a) above: 
  

	 	(i)	its failure to make such participation available or provide cash collateral is caused by: 

 

	 	(A)	administrative or technical error; or 

  

	 	(B)	a Disruption Event; and 

 such
participation is made available or cash collateral is provided within three Business Days of the date on which such participation is to be made available or cash collateral is to be provided; or 

 

	 	(ii)	the Lender is disputing in good faith whether it is contractually obliged to make the participation available or provide the cash collateral in question.

 “Designated Entity” has the meaning given to such term in Clause 32.11 (Designated
Entities). 
 “Designated Entity Accession Letter” means a document substantially in the form set out in
Schedule 19 (Designated Entity Accession Letter). 
 “Disruption Event” means either or both of:

  

	 	(a)	 a material disruption to those payment or communications systems or to those financial markets which are, in each case, required to operate in order
for payments to be made in connection with the Facilities (or otherwise in order 

  
 - 11 -

	 	
for the transactions contemplated by the Finance Documents to be carried out) which disruption is not caused by, and is beyond the control of, any of the Parties; or 

 

	 	(b)	the occurrence of any other event which results in a disruption (of a technical or systems-related nature) to the treasury or payments operations of a Party preventing
that, or any other Party: 

  

	 	(i)	from performing its payment obligations under the Finance Documents; or 

  

	 	(ii)	from communicating with other Parties in accordance with the terms of the Finance Documents, 

(and which (in either such case)) is not caused by, and is beyond the control of, the Party whose operations are disrupted. 

“Dollar Swingline Facility” means the dollar swingline loan sub-facility made available under this Agreement as described
in Clause 10 (Dollar Swingline Loans). 
 “Dollar Swingline Lender” means: 

 

	 	(a)	the Original Dollar Swingline Lender; or 

  

	 	(b)	any other person that becomes a Dollar Swingline Lender after the date of this Agreement in accordance with Clause 32 (Changes to the Lenders)

 which in each case has not ceased to be a Party in accordance with the terms of this Agreement. 

“Dollar Swingline Loan” means a loan made or to be made under the Dollar Swingline Facility or the principal amount
outstanding for the time being of that loan. 
 “Dollar Swingline Proportion” means in relation to each Lender
and a Dollar Swingline Loan, the proportion borne by its Available Commitment to the Available Facility immediately prior to the Utilisation of that Dollar Swingline Loan. 
 “Employee Plan” means an employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV or Section 302 of ERISA, or Section 412 of the
Code, and in respect of which an Obligor or any ERISA Affiliate is (or, if such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Environmental Claim” means any claim, proceeding or investigation by any person in respect of any Environmental Law.

 “Environmental Law” means any applicable law in any jurisdiction in which any member of the Group conducts
business which relates to the pollution or protection of the environment or harm to or the protection of human health or the health of animals or plants. 

  
 - 12 -

 “Environmental Permits” means any permit, licence, consent, approval and
other authorisation and the filing of any notification, report or assessment required under any Environmental Law for the operation of the business of any member of the Group conducted on or from the properties owned or used by the relevant member
of the Group. 
 “ERISA” means, at any date, the United States Employee Retirement Income Security Act of 1974
(and any successor legislation thereto), as amended from time to time, and the regulations promulgated and rulings issued thereunder, all as the same may be in effect at such date. 

“ERISA Affiliate” means any person that for purposes of Title I and Title IV of ERISA and Section 412 of the Code
would be deemed at any relevant time to be a single employer with an Obligor, pursuant to Section 414(b), (c), (m) or (o) of the Code or Section 4001 of ERISA. 

“ERISA Event” means: 
  

	 	(a)	any reportable event, as defined in Section 4043 of ERISA, with respect to an Employee Plan, as to which PBGC has not by regulation waived the requirement of
Section 4043(a) of ERISA that it be notified of such event; 

  

	 	(b)	the filing of a notice of intent to terminate any Employee Plan, if such termination would require material additional contributions in order to be considered a
standard termination within the meaning of Section 4041(b) of ERISA, the filing under Section 4041(c) of ERISA of a notice of intent to terminate any Employee Plan or the termination of any Employee Plan under Section 4041(c) of
ERISA; 

  

	 	(c)	the institution of proceedings under Section 4042 of ERISA by the PBGC for the termination of, or the appointment of a trustee to administer, any Employee Plan;

  

	 	(d)	any failure by any Employee Plan to satisfy the minimum funding standard (within the meaning of Section 412 of the Code or Section 302 of ERISA) applicable to
such Employee Plan, in each case whether or not waived; 

  

	 	(e)	the failure to make a required contribution to any Employee Plan that would reasonably be expected to result in the imposition of an encumbrance under Section 412
of the Code, or a filing under Section 412(c) of the Code or Section 302(c) of ERISA of any request for a minimum funding variance, with respect to any Employee Plan or Multiemployer Plan; 

 

	 	(f)	an engagement in a non-exempt prohibited transaction within the meaning of Section 4975 of the Code or Section 406 of ERISA; 

 

	 	(g)	the complete or partial withdrawal of any Obligor or any ERISA Affiliate from any Employee Plan or a Multiemployer Plan; and 

 

	 	(h)	an Obligor or an ERISA Affiliate incurring any liability under Title IV of ERISA with respect to any Employee Plan (other than premiums due and not delinquent under
Section 4007 of ERISA). 

  
 - 13 -

	 	(i)	a determination that any Employee Plan is, or is expected to be, in “at risk” status (as defined in Section 303(i)(4) of ERISA or Section 430(i)(4)
of the Code; and 

  

	 	(j)	the receipt by an Obligor or any of its ERISA Affiliates of any notice of the imposition of withdrawal liability or of a determination that a Multiemployer Plan is, or
is expected to be, in “endangered” or “critical” status within the meaning of Section 305 of ERISA. 

 “EURIBOR” means in relation to any Loan in euro: 
  

	 	(a)	the applicable Screen Rate; or 

  

	 	(b)	(if no Screen Rate is available for the Interest Period of that Loan) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Agent
at its request quoted by the Reference Banks to leading banks in the European interbank market; 

 as of the
Specified Time on the Quotation Day for the offering of deposits in euro for a period comparable to the Interest Period of the relevant Loan. 
 “Euro Swingline Facility” means the euro swingline loan sub-facility made available under this Agreement as described in Clause 13 (Euro Swingline Loans). 

“Euro Swingline Lender” means: 
  

	 	(a)	the Original Euro Swingline Lender; or 

  

	 	(b)	any other person that becomes a Euro Swingline Lender after the date of this Agreement in accordance with Clause 32 (Changes to the Lenders)

 which in each case has not ceased to be a Party in accordance with the terms of this Agreement. 

“Euro Swingline Loan” means a loan made or to be made under the Euro Swingline Facility or the principal amount
outstanding for the time being of that loan. 
 “Euro Swingline Proportion” means in relation to each Lender and
a Euro Swingline Loan, the proportion borne by its Available Commitment to the Available Facility immediately prior to the Utilisation of that Euro Swingline Loan. 
 “Event of Default” means any event or circumstance specified as such in Clause 31 (Events of Default). 
 “Existing Facility Agreement” means the five year credit agreement dated as of 31 May 2007 between, amongst others, the Company, JP Morgan Securities, Inc. and ABN AMRO Bank Inc. as
lead arrangers and joint bookrunners. 
 “Existing Letter of Credit” means each letter of credit originally
issued by Bank of America, N.A., and adopted under this Agreement pursuant to Clause 6.10 (Adoption of Existing Letters of Credit), the details of which are set out in Schedule 20 (Existing Letters of Credit). 

  
 - 14 -

 “Expiry Date” means, for a Letter of Credit, the last day of its Term.

 “Facility” means the Revolving Facility, the Dollar Swingline Facility or the Euro Swingline Facility.

 “Facility Approved Currency” means euro, Singapore Dollars or Hong Kong Dollars. 

“Facility Approved L/C Beneficiary” means one of the persons set out in Schedule 14 (Facility Approved L/C
Beneficiaries). 
 “Facility Office” means the office or offices notified by a Lender to the Agent in
writing on or before the date it becomes a Lender (or, following that date, by not less than five Business Days’ written notice) as the office or offices through which it will perform its obligations under this Agreement. 

“Federal Funds Rate” means, in relation to any day, the rate per annum equal to: 

 

	 	(a)	the weighted average of the rates on overnight Federal funds transactions with members of the US Federal Reserve System arranged by Federal funds brokers, as published
for that day (or, if that day is not a New York Business Day, for the immediately preceding New York Business Day) by the Federal Reserve Bank of New York; or 

 

	 	(b)	if a rate is not so published for any day which is a New York Business Day, the average of the quotations for that day on such transactions received by the Dollar
Swingline Agent from three Federal funds brokers of recognised standing selected by the Dollar Swingline Agent. 

“Fee Letter” means any letter or letters dated on or about the date of this Agreement between the Arranger and the
Company (or the Agent and the Company) setting out any of the fees referred to in Clause 20 (Fees). 
 “Finance
Document” means this Agreement, any Fee Letter, any Accession Letter, any Further Lender Accession Letter, any Designated Entity Accession Letter, any Commitment Increase Notice, any Resignation Letter and any other document designated as a
“Finance Document” by the Agent and the Company. 
 “Finance Party” means the Agent, the Arranger, a
Lender, a Swingline Lender, a Swingline Agent or the Issuing Bank. 
 “Financial Indebtedness” means, without
duplication, any indebtedness for or in respect of: 
  

	 	(a)	moneys borrowed; 

  

	 	(b)	any amount raised by acceptance under any acceptance credit facility or dematerialised equivalent; 

 

	 	(c)	any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures, loan stock or any similar instrument; 

  
 - 15 -

	 	(d)	the amount of any liability in respect of any lease or hire purchase contract which would, in accordance with US GAAP, be treated as a finance or capital lease;

  

	 	(e)	receivables sold or discounted (other than any receivables to the extent they are sold on a non-recourse basis); 

 

	 	(f)	any amount raised under any other transaction (including any forward sale or purchase agreement) having the commercial effect of a borrowing; 

 

	 	(g)	any derivative transaction entered into in connection with protection against or benefit from fluctuation in any rate or price (and, when calculating the value of any
derivative transaction, only the marked to market value shall be taken into account); 

  

	 	(h)	any counter-indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary letter of credit or any other instrument issued by a bank or
financial institution; 

  

	 	(i)	any amount raised by the issue of redeemable shares which are redeemable before the Termination Date; 

 

	 	(j)	any amount of any liability under an advance or deferred purchase agreement if one of the primary reasons behind the entry into this agreement is to raise finance; and

  

	 	(k)	(without double counting) the amount of any liability in respect of any guarantee or indemnity for any of the items referred to in paragraphs (a) to
(j) above. 

 “Financial Officer” means, in relation to the Company, the chief financial
officer, the principal accounting officer, the treasurer or the assistant treasurer of the Company or, in relation to any other Obligor, any of the chief financial officer, the principal accounting officer, the treasurer or the assistant treasurer
of the Company duly authorised by such Obligor. 
 “Further Lender Accession Letter” means a document
substantially in the form set out in Schedule 17 (Form of Further Lender Accession Letter). 
 “GAAP”
means generally accepted accounting principles in the applicable jurisdiction. 
 “Group” means the Company and
its Subsidiaries for the time being. 
 “Guarantor” means an Original Guarantor or an Additional Guarantor,
unless it has ceased to be a Guarantor in accordance with Clause 33 (Changes to the Obligors). 
 “HIBOR”
means, in relation to any Loan in Hong Kong Dollars, the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Agent by the Reference Banks as of the Specified Time on the Quotation Day for the offering of deposits
in Hong Kong Dollars for a period comparable to the Interest Period of the relevant Loan. 

  
 - 16 -

 “Holding Company” means, in relation to a person, any other person in
respect of which it is a Subsidiary. 
 “Increase Effective Date” means, in relation to a Further Lender
Accession Letter or a Commitment Increase Notice, the later of the proposed effective date of the increase in Commitments specified in such document and the date on which such document is executed by the Agent. 

“Insolvency Event” in relation to a Finance Party means that the Finance Party: 

 

	 	(a)	is dissolved (other than pursuant to a consolidation, amalgamation or merger); 

 

	 	(b)	becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due; 

 

	 	(c)	makes a general assignment, arrangement or composition with or for the benefit of its creditors; 

 

	 	(d)	institutes or has instituted against it, by a regulator, supervisor or any similar official with primary insolvency, rehabilitative or regulatory jurisdiction over it
in the jurisdiction of its incorporation or organisation or the jurisdiction of its head or home office, a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law
affecting creditors’ rights, or a petition is presented for its winding-up or liquidation by it or such regulator, supervisor or similar official; 

  

	 	(e)	has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law
affecting creditors’ rights, or a petition is presented for its winding-up or liquidation, and, in the case of any such proceeding or petition instituted or presented against it, such proceeding or petition is instituted or presented by a
person or entity not described in paragraph (d) above and: 

  

	 	(i)	results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation; or

  

	 	(ii)	is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution or presentation thereof; 

 

	 	(f)	has a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger);

  

	 	(g)	seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or
for all or substantially all its assets; 

  

	 	(h)	has a secured party take possession of all or substantially all its assets or has a distress, execution, attachment, sequestration or other legal process levied,
enforced or sued on or against all or substantially all its assets and such secured party maintains possession, or any such process is not dismissed, discharged, stayed or restrained, in each case within 30 days thereafter; 

  
 - 17 -

	 	(i)	causes or is subject to any event with respect to it which, under the applicable laws of any jurisdiction, has an analogous effect to any of the events specified in
paragraphs (a) to (h) above; or 

  

	 	(j)	takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing acts, 

except by way of an Undisclosed Administration. 
 “Interest Period” means, in relation to a Loan, each period determined in accordance with Clause 18 (Interest Periods) and, in relation to an Unpaid Sum, each period determined in
accordance with Clause 17.3 (Default interest). 
 “Intra-Group Reorganisation” means: 

 

	 	(a)	a solvent reorganisation involving the business or assets of, or shares of (or equivalent ownership interests in), any member of the Group where all of the business,
assets and shares of (or equivalent ownership interests in) the relevant member of the Group continue to be owned directly or indirectly by the Company in the same or a greater percentage as prior to such reorganisation, save for the shares of (or
equivalent ownerships in) any member of the Group which has been merged into another member of the Group; or 

  

	 	(b)	any other reorganisation involving one or more members of the Group approved by the Agent (acting on the instructions of the Majority Lenders).

 “IRS” means the U.S. Internal Revenue Service or any successor thereto. 

“Lender” means: 
  

	 	(a)	any Original Lender; and 

  

	 	(b)	any bank, financial institution, trust, fund or other entity which has become a Party in accordance with Clause 32 (Changes to the Lenders),

 which in each case has not ceased to be a Party in accordance with the terms of this Agreement. 

“Letter of Credit” means a letter of credit or bank guarantee substantially in the form set out in Schedule 13 (Form
of Letter of Credit) or in any other form requested by a Borrower and agreed by the Agent and the Issuing Bank. 

“L/C Proportion” means, in relation to a Lender in respect of any Letter of Credit, the proportion (expressed as a
percentage) borne by that Lender’s Available Commitment to the Available Facility immediately prior to the issue of that Letter of Credit, adjusted to reflect any assignment or transfer under this Agreement to or by that Lender. 

“LIBOR” means, in relation to any Loan: 
  

	 	(a)	the applicable Screen Rate; or 

  
 - 18 -

	 	(b)	(if no Screen Rate is available for the currency or Interest Period of that Loan) the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied
to the Agent at its request quoted by the Reference Banks to leading banks in the London interbank market, 

 as of
the Specified Time on the Quotation Day for the offering of deposits in the currency of that Loan and for a period comparable to the Interest Period for that Loan. 
 “LMA” means the Loan Market Association. 
 “Loan”
means a Revolving Facility Loan, a Dollar Swingline Loan or a Euro Swingline Loan. 
 “Majority Lenders” means:

  

	 	(a)	 if there are no Utilisations then outstanding, a Lender or Lenders whose Commitments aggregate more than 66 2/3 % of the Total Commitments (or, if the Total Commitments have
been reduced to zero, aggregated more than
66 2/3 % of the Total Commitments immediately
prior to the reduction); or 

  

	 	(b)	 at any other time, a Lender or Lenders whose participations in the Utilisations then outstanding aggregate more than 66 2/3 % of all the Utilisations then outstanding.

 “Mandatory Cost” means the percentage rate per annum calculated by the Agent in
accordance with Schedule 4 (Mandatory Cost formulae). 
 “Margin Stock” means margin stock or
“margin security” within the meaning of Regulations T, U and X. 
 “Material Adverse Effect” means a
material adverse effect on: 
  

	 	(a)	the business, operations, property or financial condition of the Group taken as a whole; 

 

	 	(b)	the ability of an Obligor to perform its payment obligations under the Finance Documents; 

 

	 	(c)	the ability of the Company to comply with the financial covenants under the Finance Documents; or 

 

	 	(d)	the validity or enforceability of the Finance Documents or the material rights or remedies of any Finance Party under the Finance Documents. 

“Material Company” means, at any time, a Subsidiary of the Company which: 

 

	 	(a)	is an Obligor; 

  

	 	(b)	has accounted for five per cent. or more of Consolidated EBITDA (as defined in Clause 29 (Financial covenants)) for the period of four fiscal quarters most
recently ended; and/or 

  
 - 19 -

	 	(c)	together with its own Subsidiaries, has accounted for 15 per cent. or more in aggregate of Consolidated EBITDA for the period of four fiscal quarters most recently
ended. 

 The application of the conditions set out in paragraphs (b) and (c) of this definition to
Subsidiaries of the Company shall be determined by reference to the latest audited financial statements of the Group (and, in the case of any Subsidiary of the Company having a functional currency other than US Dollars, the share of Consolidated
EBITDA of such Subsidiary shall be converted into US Dollars at the rates used in preparing the consolidated balance sheets of the Company included in the latest audited financial statements). 

If a Subsidiary has been acquired since the date as at which the latest audited consolidated financial statements of the Group were
prepared, the financial statements shall be adjusted in order to take into account the acquisition of that Subsidiary. Confirmation of the Company, acting in good-faith, that a Subsidiary is or is not a Material Company shall, in the absence of
manifest error, be conclusive and binding on all Parties. 
 “Month” means a period starting on one day in a
calendar month and ending on the numerically corresponding day in the next calendar month, except that: 
  

	 	(a)	if the numerically corresponding day is not a Business Day, that period shall end on the next Business Day in that calendar month in which that period is to end if
there is one, or if there is not, on the immediately preceding Business Day; and 

  

	 	(b)	if there is no numerically corresponding day in the calendar month in which that period is to end, that period shall end on the last Business Day in that calendar
month. 

 The above rules will only apply to the last Month of any period. 

“Multiemployer Plan” means a “multiemployer plan” (as defined in Section (3)(37) of ERISA) that is subject
to Title IV of ERISA that is contributed to for any employees of an Obligor or any ERISA Affiliate. 
 “New
Lender” has the meaning given to that term in Clause 32 (Changes to the Lenders). 
 “New York Business
Day” means a day (other than a Saturday or Sunday) on which banks are open for general business in New York City. 

“Non-Acceptable L/C Lender” means a Lender which: 

 

	 	(a)	is not an Acceptable Bank within the meaning of paragraph (a) of the definition of “Acceptable Bank” (other than a Lender which each Issuing Bank has
agreed is acceptable to it notwithstanding that fact); or 

  

	 	(b)	is a Defaulting Lender; or 

  
 - 20 -

	 	(c)	has failed to make (or has notified the Agent that it will not make) a payment to be made by it under Clause 7.5 (Indemnities) or Clause 34.10 (Lenders’
indemnity to the Agent) or any other payment to be made by it under the Finance Documents to or for the account of any other Finance Party in its capacity as Lender by the due date for payment. 

“Obligor” means a Borrower or a Guarantor. 
 “Optional Currency” means any Facility Approved Currency and any other currency (other than the Base Currency) which complies with the conditions set out in Clause 4.3 (Conditions
relating to Optional Currencies). 
 “Original Financial Statements” means: 

 

	 	(a)	in relation to the Company, the audited consolidated financial statements of the Group for the financial year ended 31 December 2010; and 

 

	 	(b)	in relation to each Original Obligor other than the Company, its audited financial statements for its financial year ended 31 December 2010.

 “Original Obligor” means an Original Borrower or an Original Guarantor. 

“Overall Commitment” of a Lender means: 
  

	 	(a)	its Commitment; or 

  

	 	(b)	in the case of a Dollar Swingline Lender or a Euro Swingline Lender which does not have a Commitment, the Commitment of a Lender which is its Designated Entity.

 “Participating Member State” means any member state of the European Union that adopts or has
adopted the euro as its lawful currency in accordance with legislation of the European Union relating to Economic and Monetary Union. 
 “Party” means a party to this Agreement. 
 “PBGC”
means the U.S. Pension Benefit Guaranty Corporation, or any entity succeeding to all or any of its functions under ERISA. 

“Quasi-Security” has the meaning given to it in Clause 30.3 (Negative Pledge). 

“Quotation Day” means, in relation to any period for which an interest rate is to be determined: 

 

	 	(a)	(if the currency is euro) two TARGET Days before the first day of that period; or 

 

	 	(b)	(for any other currency) two Business Days before the first day of that period, 

 unless market practice differs in the Relevant Interbank Market for a currency, in which case the Quotation Day for that currency will be determined by the Agent in accordance with market practice in the
Relevant Interbank Market (and if quotations would normally be given by leading banks in the Relevant Interbank Market on more than one day, the Quotation Day will be the last of those days). 

  
 - 21 -

 “Reference Banks” means: 

 

	 	(a)	in relation to LIBOR and Mandatory Costs the principal office in London of Bank of America, N.A., Citibank, N.A. and Fortis Bank S.A./N.V.; 

 

	 	(b)	in relation to EURIBOR, the principal office in London of Bank of America, N.A., Citibank, N.A. and Fortis Bank S.A./N.V.; 

 

	 	(c)	in relation to HIBOR, the principal office in London of Bank of America, N.A., The Royal Bank of Scotland plc, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Citibank, N.A.
and Fortis Bank S.A./N.V.; 

  

	 	(d)	in relation to SIBOR, the principal office in London of Bank of America, N.A., The Royal Bank of Scotland plc, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Citibank, N.A.
and Fortis Bank S.A./N.V.; or 

  

	 	(e)	such other banks as may be appointed by the Agent in consultation with the Company. 

“Register” has the meaning given to it in Clause 32.7 (The Register). 

“Regulations T, U and X” means, respectively, Regulations T, U and X of the Board of Governors of the Federal Reserve
System of the United States (or any successor). 
 “Relevant Interbank Market” means in relation to euro, the
European interbank market, and, in relation to any other currency, the London interbank market. 
 “Renewal
Request” means a written notice delivered to the Agent in accordance with Clause 6.7 (Renewal of a Letter of Credit). 
 “Repeating Representations” means each of the representations set out in Clauses 27.1 (Status) to 27.6 (Governing law and enforcement), Clause 27.8 (No default),
paragraph (c) of Clause 27.9 (No misleading information), Clause 27.10 (Financial Statements), Clause 27.11 (Pari passu ranking), Clause 27.12 (No proceedings pending or threatened), 27.15 (Material Adverse
Effect) and Clauses 27.17 (ERISA and Multiemployer Plans) to 27.22 (No listed securities). 

“Representative” means any delegate, agent, manager, administrator, nominee, attorney, trustee or custodian. 

“Resignation Letter” means a letter substantially in the form set out in Schedule 8 (Form of Resignation Letter).

 “Revolving Facility” means the revolving loan facility made available under this Agreement as described in
Clause 2.1 (The Revolving Facility). 
 “Revolving Facility Loan” means a loan made or to be made under
the Revolving Facility or the principal amount outstanding for the time being of that loan. 

  
 - 22 -

 “Rollover Loan” means one or more Revolving Facility Loans (but excluding
Swingline Loans): 
  

	 	(a)	made or to be made on the same day that (i) a maturing Revolving Facility Loan is due to be repaid or (ii) a Borrower is obliged to pay to the Agent for the
Issuing Bank the amount of any claim under a Letter of Credit; 

  

	 	(b)	the aggregate amount of which is equal to or less than (i) the amount of the maturing Revolving Facility Loan or (ii) the amount of the claim under the Letter
of Credit; 

  

	 	(c)	in the same currency as (i) the maturing Revolving Facility Loan (unless it arose as a result of the operation of Clause 14.2 (Unavailability of a
currency)) or (ii) the claim under the Letter of Credit; and 

  

	 	(d)	made or to be made to the same Borrower for the purpose of (i) refinancing a maturing Revolving Facility Loan or (ii) satisfying the obligations of the
Borrower to pay the amount of a claim under the Letter of Credit to the Agent for the Issuing Bank. 

“Screen Rate” means: 
  

	 	(a)	in relation to LIBOR, the British Bankers’ Association Interest Settlement Rate for the relevant currency and period, and 

 

	 	(b)	in relation to EURIBOR, the percentage rate per annum determined by the Banking Federation of the European Union for the relevant period, 

displayed on the appropriate page of the Reuters screen. If the agreed page is replaced or service ceases to be available, the Agent may
specify another page or service displaying the appropriate rate after consultation with the Company and the Lenders. 

“SEC” means the United States Securities and Exchange Commission or any successor thereto. 

“Securitisation Transaction” means: 
  

	 	(a)	any transfer of accounts receivable or interests therein: 

  

	 	(i)	to a trust, partnership, corporation or other entity (other than a Subsidiary), which transfer or pledge is funded by such entity in whole or in part by the issuance to
one or more lenders or investors of indebtedness or other securities that are to receive payments principally from the cash flow derived from such accounts receivable or interests in accounts receivable; or 

 

	 	(ii)	directly to one or more investors or other purchasers (other than any Subsidiary); or 

 

	 	(b)	any transaction in which the Company or a Subsidiary incurs Financial Indebtedness or other obligations secured by Liens on accounts receivable.

  
 - 23 -

 The “amount” of any Securitisation Transaction shall be deemed at any time to be:

  

	 	(A)	in the case of a transaction described in paragraph (a) above, the aggregate uncollected amount of the accounts receivable transferred pursuant to such
Securitisation Transaction, net of any such accounts receivable that have been written off as uncollectible; and 

  

	 	(B)	in the case of a transaction described in paragraph (b) above, the aggregate outstanding principal amount of the Financial Indebtedness secured by Liens on
accounts receivable incurred pursuant to such Securitisation Transaction or, if less, the aggregate uncollected amount of the accounts receivable subject to such Liens. 

For purposes of this definition, accounts receivable shall include any and all payments owing to the Company or any of its Subsidiaries by
any and all Obligors under long term contracts in respect of goods or other property sold or leased or services rendered. 

“Security” means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any
other agreement or arrangement having a similar effect. 
 “SIBOR” means, in relation to any Loan in Singapore
Dollars, the arithmetic mean of the rates (rounded upwards to four decimal places) as supplied to the Agent by the Reference Banks as of the Specified Time on the Quotation Day for the offering of deposits in Singapore Dollars for a period
comparable to the Interest Period of the relevant Loan. 
 “Specified Time” means a time determined in
accordance with Schedule 12 (Timetables). 
 “Subsidiary” means any person (referred to as the
“first person”) in respect of which another person (referred to as the “second person”): 
  

	 	(a)	holds a majority of the voting rights in that first person or has the right under the constitution of the first person to direct the overall policy of the first person
or alter the terms of its constitution; or 

  

	 	(b)	is a member of that first person and has the right to appoint or remove a majority of its board of directors or equivalent administration, management or supervisory
body; or 

  

	 	(c)	has the right to exercise a dominant influence (which must include the right to give directions with respect to operating and financial policies of the first person
which its directors are obliged to comply with whether or not for its benefit) over the first person by virtue of provisions contained in the articles (or equivalent) of the first person or by virtue of a control contract which is in writing and is
authorised by the articles (or equivalent) of the first person and is permitted by the law under which such first person is established; or 

  
 - 24 -

	 	(d)	is a member of that first person and controls alone, pursuant to an agreement with other shareholders or members, a majority of the voting rights in the first person or
the rights under its constitution to direct the overall policy of the first person or alter the terms of its constitution; or 

  

	 	(e)	has the power to exercise, or actually exercises dominant influence or control over the first person; or 

 

	 	(f)	together with the first person are managed on a unified basis, 

 and for the purposes of this definition, a person shall be treated as a member of another person if any of that person’s Subsidiaries is a member of that other person or, if any shares in that other
person are held by a person acting on behalf of it or any of its Subsidiaries. A subsidiary undertaking shall include any person the shares or ownership interests in which are subject to Security and where the legal title to the shares or ownership
interests so secured are registered in the name of the secured party or its nominee pursuant to such Security. 

“Swingline Agent” means the Dollar Swingline Agent or the Euro Swingline Agent. 

“Swingline Amount” means (subject always to Clauses 9.4 (Relationship with the Revolving Facility) and 12.4
(Relationship with the Revolving Facility)) USD50,000,000. 
 “Swingline Lender” means the Dollar
Swingline Lender or the Euro Swingline Lender. 
 “Swingline Loan” means a Dollar Swingline Loan or a Euro
Swingline Loan. 
 “TARGET2” means the Trans-European Automated Real-time Gross Settlement Express Transfer
payment system which utilises a single shared platform and which was launched on 19 November 2007. 
 “TARGET
Day” means any day on which TARGET2 is open for the settlement of payments in euro. 
 “Tax” means any
tax, levy, impost, duty or other charge or withholding of a similar nature (including any penalty or interest payable in connection with any failure to pay or any delay in paying any of the same). 

“Term” means each period determined under this Agreement for which the Issuing Bank is under a liability under a Letter
of Credit. 
 “Termination Date” means 1 September 2016. 

“Total Commitments” means the aggregate of the Commitments, being USD400,000,000 at the date of this Agreement.

 “Transfer Certificate” means a certificate substantially in the form set out in Schedule 5 (Form of
Transfer Certificate) or any other form agreed between the Agent and the Company. 

  
 - 25 -

 “Transfer Date” means, in relation to an assignment or a transfer, the
later of: 
  

	 	(a)	the proposed Transfer Date specified in the relevant Assignment Agreement or Transfer Certificate; and 

 

	 	(b)	the date on which the Agent executes the relevant Assignment Agreement or Transfer Certificate. 

“UK Bank Levy” means the United Kingdom bank levy (as defined in the Finance (No.3) Bill published by HM Treasury on
31 March 2011. 
 “Undisclosed Administration” means, in relation to a Lender, the appointment of an
administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official by a supervisory authority or regulator under Dutch law to the extent Dutch law requires that such appointment is not to be publicly
disclosed. 
 “Unfunded Pension Liability” means the excess of an Employee Plan’s benefit liabilities under
Section 4001(a)(16) of ERISA, over the current value of that plan’s assets, determined in accordance with the assumptions used for funding the Employee Plan pursuant to Section 412 of the Code for the applicable plan year. 

“Unpaid Sum” means any sum due and payable but unpaid by an Obligor under the Finance Documents. 

“U.S.” and “United States” means the United States of America, its territories, possessions and other
areas subject to the jurisdiction of the United States of America. 
 “U.S. Borrower” means a Borrower whose
jurisdiction of organisation is a state of the United States or the District of Columbia. 
 “US GAAP” means
generally accepted accounting principles in the United States of America. 
 “U.S. Guarantor” means a Guarantor
whose jurisdiction of organisation is a state of the United States or the District of Columbia. 
 “U.S.
Obligor” means any U.S. Borrower or U.S. Guarantor. 
 “Utilisation” means a Loan or a Letter of
Credit. 
 “Utilisation Date” means the date on which a Utilisation is to be made. 

“Utilisation Request” means 
  

	 	(a)	in the case of a Utilisation of the Revolving Facility, a notice substantially in the form set out in Part I of Schedule 3 (Requests); 

 

	 	(b)	in the case of a Utilisation of the Dollar Swingline Facility, a notice substantially in the form set out in Part II of Schedule 3 (Requests);

  

	 	(c)	in the case of a Utilisation of the Euro Swingline Facility, a notice substantially in the form set out in Part III of Schedule 3 (Requests); and

  
 - 26 -

	 	(d)	in the case of a Utilisation of a Letter of Credit under the Revolving Facility, a notice substantially in the form set out in Part IV of Schedule 3 (Requests).

 “VAT” means value added tax as provided for in the Value Added Tax Act 1994 and any other tax
of a similar nature. 
  

	1.2	Construction 

  

	 	(a)	Unless a contrary indication appears any reference in this Agreement to: 

  

	 	(i)	the “Agent”, the “Arranger”, any “Finance Party”, any “Lender”, any “Obligor” or
any “Party” shall be construed so as to include its successors in title, permitted assigns and permitted transferees; 

  

	 	(ii)	“assets” includes present and future properties, revenues and rights of every description; 

 

	 	(iii)	“euro equivalent” means at any time an amount of US Dollars converted into euros at the Agent’s Spot Rate of Exchange on the date the calculation
is made; 

  

	 	(iv)	a “Finance Document” or any other agreement or instrument is a reference to that Finance Document or other agreement or instrument as amended, novated,
supplemented, extended, replaced or restated; 

  

	 	(v)	“indebtedness” includes any obligation (whether incurred as principal or as surety) for the payment or repayment of money, whether present or future,
actual or contingent; 

  

	 	(vi)	an “Interest Period” includes each period determined under this Agreement by reference to which interest on a Dollar Swingline Loan and a Euro
Swingline Loan is calculated; 

  

	 	(vii)	a “Lender” includes the Dollar Swingline Lender and the Euro Swingline Lender unless the context otherwise requires; 

 

	 	(viii)	a “person” includes any individual, firm, company, corporation, government, state or agency of a state or any association, trust, joint venture,
consortium or partnership (whether or not having separate legal personality); 

  

	 	(ix)	a “regulation” includes any regulation, rule, official directive, request or guideline (whether or not having the force of law, but if not having the
force of law being of a type with which persons to which it applies are accustomed to comply) of any governmental, intergovernmental or supranational body, agency, department or of any regulatory, self-regulatory or other authority or organisation;

  

	 	(x)	a provision of law is a reference to that provision as amended or re-enacted; and 

 

	 	(xi)	a time of day is a reference to London time. 

  
 - 27 -

	 	(b)	Section, Clause and Schedule headings are for ease of reference only. 

  

	 	(c)	Unless a contrary indication appears, a term used in any other Finance Document or in any notice given under or in connection with any Finance Document has the same
meaning in that Finance Document or notice as in this Agreement. 

  

	 	(d)	a Borrower providing “cash cover” for a Letter of Credit means a Borrower paying an amount in the currency of the Letter of Credit to an
interest-bearing account in the name of the Borrower and the following conditions are met: 

  

	 	(i)	the account is with the Agent, an Affiliate of the Agent or the Issuing Bank; 

 

	 	(ii)	subject to the terms of this Agreement, withdrawals from the account may only be made to pay a Finance Party amounts due and payable to it under this Agreement in
respect of that Letter of Credit until no amount is or may be outstanding under that Letter of Credit or if the Agent determines that cash collateral is no longer required; and 

 

	 	(iii)	the Borrower has executed a security document, in form and substance satisfactory to the Agent or the Finance Party with which that account is held, creating a first
ranking security interest over that account. 

  

	 	(e)	A Default (other than an Event of Default) is “continuing” if it has not been remedied or waived and an Event of Default is
“continuing” if it has not been waived. 

  

	 	(f)	A Utilisation made or to be made to a Borrower includes a Letter of Credit issued on its behalf. 

 

	 	(g)	A Lender funding its participation in a Utilisation includes a Lender participating in a Letter of Credit. 

 

	 	(h)	A Lender is deemed to have a participation in each Dollar Swingline Loan equal to its Dollar Swingline Proportion and in each Euro Swingline Loan equal to its Euro
Swingline Proportion. 

  

	 	(i)	Amounts outstanding under this Agreement include amounts outstanding under or in respect of any Letter of Credit. 

 

	 	(j)	An outstanding amount of a Letter of Credit at any time is the maximum amount that is or may be payable by the Borrower in respect of that Letter of Credit at that
time. 

  

	 	(k)	The Interest Period of a Letter of Credit will be construed as a reference to the Term of that Letter of Credit. 

 

	 	(l)	An amount borrowed includes any amount utilised by way of Letter of Credit. 

  
 - 28 -

	 	(m)	A Borrower “repaying” or “prepaying” a Letter of Credit means: 

 

	 	(i)	that Borrower providing cash cover for that Letter of Credit; 

  

	 	(ii)	the maximum amount payable under the Letter of Credit being reduced in accordance with its terms; or 

 

	 	(iii)	the Issuing Bank being satisfied that it has no further liability under that Letter of Credit, 

and the amount by which a Letter of Credit is repaid or prepaid under sub-paragraphs (i) and (ii) above is the amount of the
relevant cash cover or reduction. 
  

	1.3	Currency Symbols and Definitions 

 “USD” and “US Dollars” denote the lawful currency of the United States of America, “EUR” and “euro” denote the single currency unit of
the Participating Member States, “SGD” and “Singapore Dollars” denote the lawful currency of Singapore and “HKD” and “Hong Kong Dollars” denote the lawful currency of Hong Kong.

  

	1.4	Third party rights 

  

	 	(a)	Unless expressly provided to the contrary in a Finance Document, a person who is not a Party has no right under the Contracts (Rights of Third Parties) Act 1999 (the
“Third Parties Act”) to enforce or to enjoy the benefit of any term of this Agreement. 

  

	 	(b)	Notwithstanding any term of any Finance Document, the consent of any person who is not a Party is not required to rescind or vary this Agreement at any time.

  
 - 29 -

 SECTION 2 
 THE FACILITY 
  

	2.	THE FACILITY 

  

	2.1	The Revolving Facility 

Subject to the terms of this Agreement, the Lenders make available to the Borrowers a multicurrency revolving credit facility in an
aggregate amount equal to the Total Commitments. 
  

	2.2	Increase in Total Commitments 

  

	 	(a)	The Company may, at any time after the date of this Agreement, request an increase in the Total Commitments of: 

 

	 	(i)	up to USD150,000,000 (provided that the Agent has been provided with a copy of a resolution of the Board of Directors of the Company (certified by a director or
by a Financial Officer as being correct, complete and in full force and effect) approving any increase pursuant to this Clause 2.2 in form and substance reasonably satisfactory to it); or 

 

	 	(ii)	if the Commitment of a Defaulting Lender has been repaid and cancelled in accordance with paragraph (d) of Clause 16.5 (Right of replacement or repayment and
cancellation in relation to a Single Lender), an amount not exceeding the amount of the Commitment so cancelled and repaid, 

 in each case by written notice to the Agent (an “Increase Request Notice”) not less than 15 Business Days prior to the proposed effective date of such increase. 

 

	 	(b)	Upon receipt of an Increase Request Notice, the Agent shall, on behalf of the Company, invite each Lender to assume a pro rata share of the amount of the
proposed increase to the Total Commitments (the “Total Increase Amount”). No Lender may increase its Commitment by an amount exceeding its pro rata share of the proposed Total Increase Amount except in accordance with
paragraph (c)(ii) below. Each Lender shall, if it agrees to increase its Commitment in accordance with this Clause 2.2, provide the Agent with a Commitment Increase Notice by no later than 5:00p.m. London time five Business Days after the date of
the Increase Request Notice (the “Final Acceptance Time”). For the avoidance of doubt, no Lender is under any obligation to agree to provide an increase in its Commitment. 

 

	 	(c)	After the Final Acceptance Time, if the existing Lenders have not agreed to increase their Commitments by an aggregate amount equal to the Total Increase Amount, the
Company may: 

  

	 	(i)	invite any bank, financial institution, trust, fund or other entity acceptable to the Agent, the Issuing Banks and the Swingline Lenders (each a “Further
Lender”) to accede to this Agreement as a Lender; and/or 

  
 - 30 -

	 	(ii)	invite any existing Lender which has agreed to increase its Commitment to provide a further increase beyond its pro rata share of the Total Increase Amount,

 in a total aggregate amount which is less than or equal to the Total Increase Amount less the aggregate amount
by which existing Lenders have agreed to increase their Commitments pursuant to paragraph (b) above. 
  

	 	(d)	Commitments increased or added under this Clause 2.2 must be: 

  

	 	(i)	if provided by an existing Lender, in a minimum amount of USD5,000,000 and in integral multiples of USD1,000,000; or 

 

	 	(ii)	if provided by a Further Lender, in a minimum amount of USD5,000,000 and in integral multiples of USD1,000,000, 

and in a total aggregate amount of not more than USD150,000,000. 

 

	 	(e)	A Lender’s Commitment shall be increased or a Further Lender’s Commitment shall become effective on the Increase Effective Date. 

 

	 	(f)	The Agent shall, subject to paragraph (g) below, as soon as reasonably practicable after receipt by it of a duly completed Commitment Increase Notice or Further
Lender Accession Letter appearing on its face to comply with and delivered in accordance with the terms of this Agreement, execute such Commitment Increase Notice or Further Lender Accession Letter. 

 

	 	(g)	The Agent shall not be obliged to execute a Further Lender Accession Letter unless it is satisfied that it has complied with all necessary “know your
customer” or other similar checks under all applicable laws and regulations in relation to the proposed Further Lender. 

  

	 	(h)	On the applicable Increase Effective Date in relation to a Further Lender: 

 

	 	(i)	such Further Lender shall become a Party as a Lender and such Further Lender and each of the other Finance Parties shall assume the same obligations towards one another
and acquire the same rights against one another as that Further Lender and those Finance Parties would have assumed and/or acquired had the Further Lender been an Original Lender; and 

 

	 	(ii)	the Obligors and such Further Lender shall assume the same obligations towards one another and acquire the same rights against one another as the Obligors and that
Further Lender would have assumed and/or acquired had the Further Lender been an Original Lender. 

  

	 	(i)	The Agent shall notify the Lenders and the Company of any increase in the Total Commitments pursuant to this Clause 2.2. 

  
 - 31 -

	2.3	Finance Parties’ rights and obligations 

  

	 	(a)	The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance Party to perform its obligations under the Finance Documents does
not affect the obligations of any other Party under the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents. 

 

	 	(b)	The rights of each Finance Party under or in connection with the Finance Documents are separate and independent rights and any debt arising under the Finance Documents
to a Finance Party from an Obligor shall be a separate and independent debt. 

  

	 	(c)	A Finance Party may, except as otherwise stated in the Finance Documents, separately enforce its rights under the Finance Documents. 

 

	3.	PURPOSE 

  

	3.1	Purpose 

 Each Borrower
shall apply all amounts borrowed by it under the Revolving Facility towards dividends, share repurchases (other than (i) any acquisition or repurchase of shares in contravention of Section 47A of the Companies Ordinance (Cap 32) of the
Laws of Hong Kong or (ii) any financing or refinancing of the acquisition of or subscription for shares in any Belgian Obligor (save as authorised by Article 329 of the Belgian company law and for share buy-backs carried out in accordance with
Belgian company law)), acquisitions, working capital, refinancing of existing indebtedness and other general corporate purposes. 
  

	3.2	Monitoring 

 No Finance
Party is bound to monitor or verify the application of any amount borrowed pursuant to this Agreement. 
  

	4.	CONDITIONS OF UTILISATION 

  

	4.1	Initial conditions precedent 

 No Borrower may deliver a Utilisation Request unless the Agent has received all of the documents and other evidence listed in Part I of Schedule 2 (Conditions precedent) (save for the Original
Financial Statements of WABCO Asia Private Ltd., which shall be provided to the Agent on or before the earlier of (i) the date WABCO Asia Private Ltd. first delivers a Utilisation Request to the Agent and (ii) 30 July 2011) in form
and substance reasonably satisfactory to the Agent. The Agent shall notify the Company and the Lenders promptly upon being so satisfied. 

  
 - 32 -

	4.2	Further conditions precedent 

 The Lenders will only be obliged to comply with Clause 5.4 (Lenders’ participation) if on the date of the Utilisation Request and on the proposed Utilisation Date: 

 

	 	(a)	in the case of a Rollover Loan, no Event of Default is continuing or would result from the proposed Loan and, in the case of any other Loan, no Default is continuing or
would result from the proposed Loan; and 

  

	 	(b)	the Repeating Representations to be made by each Obligor are true in all material respects. 

 

	4.3	Conditions relating to Optional Currencies 

  

	 	(a)	A currency will constitute an Optional Currency in relation to a Utilisation if: 

 

	 	(i)	it is readily available in the amount required and freely convertible into the Base Currency in the Relevant Interbank Market on the Quotation Day and the Utilisation
Date for that Utilisation; and 

 (ii) 

 

	 	(A)	it is a Facility Approved Currency; or 

  

	 	(B)	it has been approved by the Agent (acting on the consent of all the Lenders), 

 on or prior to receipt by the Agent of the relevant Utilisation Request for that Utilisation. 
  

	 	(b)	If the Agent has received a written request from the Company for a currency to be approved under paragraph (a)(ii) above (other than a Facility Approved Currency), the
Agent will confirm to the Company by the Specified Time: 

  

	 	(i)	whether or not the Lenders have granted their approval; and 

  

	 	(ii)	if approval has been granted, the minimum amount and integral multiples for any subsequent Utilisation in that currency. 

 

	4.4	Maximum number of Utilisations 

  

	 	(a)	A Borrower may not deliver a Utilisation Request if as a result of the proposed Utilisation 20 or more Loans would be outstanding concurrently at any time.

  

	 	(b)	Any Loan made by a single Lender under Clause 14.2 (Unavailability of a currency) shall not be taken into account in this Clause 4.4. 

  
 - 33 -

 SECTION 3 
 UTILISATION 
  

	5.	UTILISATION - REVOLVING FACILITY LOANS 

  

	5.1	Delivery of a Utilisation Request 

 A Borrower may utilise the Revolving Facility by delivery to the Agent of a duly completed Utilisation Request not later than the Specified Time. 

 

	5.2	Completion of a Utilisation Request 

  

	 	(a)	Each Utilisation Request is irrevocable and will not be regarded as having been duly completed unless: 

 

	 	(i)	the proposed Utilisation Date is a Business Day within the Availability Period; 

 

	 	(ii)	the currency and amount of the Utilisation comply with Clause 5.3 (Currency and amount); and 

 

	 	(iii)	the proposed Interest Period complies with Clause 18 (Interest Periods). 

 

	 	(b)	Only one Revolving Facility Loan may be requested in each Utilisation Request. 

 

	5.3	Currency and amount 

  

	 	(a)	The currency specified in a Utilisation Request must be the Base Currency or an Optional Currency. 

 

	 	(b)	The amount of the proposed Revolving Facility Loan must be: 

  

	 	(i)	if the currency selected is the Base Currency, a minimum of USD5,000,000 or if less, the Available Facility, in integral multiples of USD1,000,000; or

  

	 	(ii)	if the currency selected is euro, a minimum amount of EUR5,000,000, in integral multiples of EUR1,000,000, or if less, the Available Facility; or

  

	 	(iii)	if the currency selected is Singapore Dollars a minimum amount of SGD5,000,000, in integral multiples of SGD1,000,000, or, if less, the Available Facility;

  

	 	(iv)	if the currency selected is Hong Kong Dollars, a minimum amount of HKD5,000,000, in integral multiples of HKD1,000,000, or, if less, the Available Facility;

  

	 	(v)	 if the currency selected is an Optional Currency other than euro, Singapore Dollars or Hong Kong Dollars, the minimum amount

  
 - 34 -

	 	
specified by the Agent pursuant to paragraph (b)(ii) of Clause 4.3 (Conditions relating to Optional Currencies) or, if less, the Available Facility; and 

 

	 	(vi)	in any event such that its Base Currency Amount is less than or equal to the Available Facility. 

 

	5.4	Lenders’ participation 

  

	 	(a)	If the conditions set out in this Agreement have been met, each Lender shall make its participation in each Revolving Facility Loan available by the Utilisation Date
through its Facility Office by the Specified Time. 

  

	 	(b)	The amount of each Lender’s participation in each Revolving Facility Loan will be equal to the proportion borne by its Available Commitment to the Available
Facility immediately prior to making the Revolving Facility Loan. 

  

	 	(c)	The Agent shall determine the Base Currency Amount of each Revolving Facility Loan which is to be made in an Optional Currency and shall notify each Lender of the
amount, currency and the Base Currency Amount of each Revolving Facility Loan and the amount of its participation in that Revolving Facility Loan, in each case by the Specified Time. 

 

	5.5	Cancellation of Commitment 

The Commitments which, at that time, are unutilised shall be immediately cancelled at the end of the Availability Period. 

 

	6.	UTILISATION - LETTERS OF CREDIT 

  

	6.1	General 

  

	 	(a)	Clause 5 (Utilisation - Revolving Facility Loans) does not apply to a Utilisation by way of Letter of Credit. 

 

	 	(b)	In determining the amount of the Available Facility and a Lender’s L/C Proportion of a proposed Letter of Credit, for the purposes of this Agreement the Available
Commitment of a Lender will be calculated ignoring any cash cover provided for outstanding Letters of Credit. 

  

	6.2	The Revolving Facility 

The Revolving Facility may be utilised by way of Letters of Credit. 

 

	6.3	Delivery of a Utilisation Request for Letters of Credit 

 A Borrower may request a Letter of Credit to be issued by delivery to the Agent (with a copy to the Issuing Bank) of a duly completed Utilisation Request substantially in the form of Part IV of Schedule 3
(Utilisation Request - Letters of Credit) not later than the Specified Time. 

  
 - 35 -

	6.4	Completion of a Utilisation Request for Letters of Credit 

 Each Utilisation Request for a Letter of Credit is irrevocable (unless the beneficiary of the Letter of Credit is not approved in accordance with paragraph (h) below) and will not be regarded as
having been duly completed unless: 
  

	 	(a)	it specifies that it is for a Letter of Credit; 

  

	 	(b)	the proposed Utilisation Date is a Business Day within the Availability Period; 

 

	 	(c)	the currency and amount of the Letter of Credit comply with Clause 6.5 (Currency and amount); 

 

	 	(d)	the form of Letter of Credit is attached; 

  

	 	(e)	in the case of any Letter of Credit to be issued with a Term of more than one year, the Expiry Date of such Letter of Credit falls on or before the date falling 5 days
prior to Termination Date; 

  

	 	(f)	in the case of any Letter of Credit to be issued with a Term of one year and which is automatically renewable the Expiry Date for such Letter of Credit falls on or
before the Termination Date; 

  

	 	(g)	the delivery instructions for the Letter of Credit are specified; and 

  

	 	(h)	the beneficiary of the Letter of Credit is a Facility Approved L/C Beneficiary or any other beneficiary approved by the Issuing Bank. 

 

	6.5	Currency and amount 

  

	 	(a)	The currency specified in a Utilisation Request must be the Base Currency or an Optional Currency. 

 

	 	(b)	The amount of the proposed Letter of Credit must be an amount whose Base Currency Amount is not more than the Available Facility and which is: 

 

	 	(i)	if the currency selected is the Base Currency, a minimum of USD100,000 or, if less, the Available Facility; or 

 

	 	(ii)	if the currency selected is euro, a minimum of EUR100,000, or, if less, the Available Facility; or 

 

	 	(iii)	if the currency selected is Singapore Dollars, a minimum amount of SGD100,000, or, if less, the Available Facility; or 

 

	 	(iv)	if the currency selected is Hong Kong Dollars, a minimum amount of HKD100,000, or, if less, the Available Facility; or 

 

	 	(v)	if the currency selected is an Optional Currency other than euro, Singapore Dollars or Hong Kong Dollars, the minimum amount (and if required, integral multiple)
specified by the Agent pursuant to paragraph (b)(ii) of Clause 4.3 (Conditions relating to Optional Currencies) or, if less, the Available Facility, 

  
 - 36 -

 and in any case the amount of all outstanding Letters of Credit at any time may not exceed
USD50,000,000. 
  

	6.6	Issue of Letters of Credit 

  

	 	(a)	If the conditions set out in this Agreement have been met, the Issuing Bank shall issue the Letter of Credit on the Utilisation Date. 

 

	 	(b)	The Issuing Bank will only be obliged to comply with paragraph (a) above if on the date of the Utilisation Request or Renewal Request and on the proposed
Utilisation Date: 

  

	 	(i)	no Lender is a Non-Acceptable L/C Lender (unless it has deposited cash collateral in accordance with Clause 7.6 (Cash Collateral by Non-Acceptable L/C Lender) to
the satisfaction of the Issuing Bank; 

  

	 	(ii)	in the case of a Letter of Credit renewed in accordance with Clause 6.7 (Renewal of a Letter of Credit), no Event of Default is continuing or would result from
the proposed Utilisation and, in the case of any other Utilisation, no Default is continuing or would result from the proposed Utilisation; and 

  

	 	(iii)	the Repeating Representations to be made by each Obligor are true in all material respects. 

 

	 	(c)	The amount of each Lender’s participation in each Letter of Credit will be equal to the proportion borne by its Available Commitment to the Available Facility
immediately prior to the issue of the Letter of Credit. 

  

	 	(d)	The Agent shall determine the Base Currency Amount of each Letter of Credit which is to be issued in an Optional Currency and shall notify the Issuing Bank and each
Lender of the details of the requested Letter of Credit and its participation in that Letter of Credit by the Specified Time. 

  

	6.7	Renewal of a Letter of Credit 

  

	 	(a)	A Borrower may request any Letter of Credit issued on its behalf be renewed by delivery to the Agent of a Renewal Request by the Specified Time.

  

	 	(b)	If the Term of a Letter of Credit is one year, such Letter of Credit shall (unless the Borrower has requested otherwise) be renewed automatically for the same Term (or
in the case of the last renewal prior to the Termination Date, such shorter period as is necessary to ensure that the Term of the Letter of Credit does not extend beyond the Termination Date until the Termination Date provided that the
Conditions set out in Clause 6.6(b) (Issue of Letters of Credit) have been satisfied. 

  

	 	(c)	The Finance Parties shall treat any Renewal Request in the same way as a Utilisation Request for a Letter of Credit except that the conditions set out in paragraphs
(d) and (g) of Clause 6.4 (Completion of a Utilisation Request for Letters of Credit) shall not apply. 

  
 - 37 -

	 	(d)	The terms of each renewed Letter of Credit shall be the same as those of the relevant Letter of Credit immediately prior to its renewal, (and, for the avoidance of
doubt, the amount of such Letter of Credit can be less than the minimum amount set out in Clause 6.5 (Currency and amount)), except that: 

  

	 	(i)	its amount may be less than the amount of the Letter of Credit immediately prior to its renewal; and 

 

	 	(ii)	its Term shall start on the date which was the Expiry Date of the Letter of Credit immediately prior to its renewal, and shall end on the proposed Expiry Date specified
in the Renewal Request. 

  

	 	(e)	If the conditions set out in this Agreement have been met, the Issuing Bank shall amend and re-issue any Letter of Credit pursuant to a Renewal Request.

  

	6.8	Reduction of a Letter of Credit 

  

	 	(a)	If, on the proposed Utilisation Date of a Letter of Credit, any of the Lenders under the Revolving Facility is a Non-Acceptable L/C Lender and:

  

	 	(i)	that Lender has failed to provide cash collateral to the Issuing Bank in accordance with Clause 7.6 (Cash collateral by Non-Acceptable L/C Lender); and

  

	 	(ii)	the relevant Borrower has failed to provide cash cover to the Issuing Bank in accordance with Clause 7.7 (Cash cover by Borrower), 

the Issuing Bank may reduce the amount of that Letter of Credit by an amount equal to the amount of the participation of that
Non-Acceptable L/C Lender in respect of that Letter of Credit and that Non-Acceptable L/C Lender shall be deemed not to have any participation (or obligation to indemnify the Issuing Bank) in respect of that Letter of Credit for the purposes of the
Finance Documents. 
  

	 	(b)	The Issuing Bank shall notify the Agent of each reduction made pursuant to this Clause 6.8. 

 

	 	(c)	This Clause 6.8 shall not affect the participation of each other Lender in that Letter of Credit. 

 

	6.9	Revaluation of Letters of Credit 

  

	 	(a)	If any Letter of Credit is denominated in an Optional Currency, the Agent shall at three-monthly intervals after the date of this Agreement recalculate the Base
Currency Amount of that Letter of Credit by notionally converting into the Base Currency the outstanding amount of that Letter of Credit on the basis of the Agent’s Spot Rate of Exchange on the date of calculation. 

  
 - 38 -

	 	(b)	A Borrower shall, if requested by the Agent within five days of any calculation under paragraph (a) above, ensure that within three Business Days sufficient
Utilisations are prepaid to prevent the Base Currency Amount of the Utilisations exceeding the Total Commitments following any adjustment to a Base Currency Amount under paragraph (a) above. 

 

	6.10	Adoption of Existing Letters of Credit 

 On and from the date on which the Agent provides confirmation to each of the Company and the Lenders pursuant to Clause 4.1 (Initial conditions precedent) above, each of the Existing Letters of
Credit shall be deemed to be Letters of Credit requested and issued pursuant to and in accordance with this Agreement and all of the terms of this Agreement shall be construed and the amount of the Available Facility shall be reduced accordingly.

  

	7.	LETTERS OF CREDIT 

  

	7.1	Immediately payable 

 If a
Letter of Credit or any amount outstanding under a Letter of Credit becomes immediately payable under this Agreement, the Borrower that requested the issue of that Letter of Credit shall repay or prepay that amount immediately. 

 

	7.2	Assignments and transfers 

  

	 	(a)	Notwithstanding any other provision of this Agreement, the consent of the Issuing Bank is required for any assignment or transfer of any Lender’s rights and/or
obligations under the Facility, unless such assignment or transfer is to another Lender or to an Affiliate of a Lender. 

  

	 	(b)	If paragraph (a) and the conditions and procedure for transfer specified in Clause 32 (Changes to the Lenders) are satisfied, then on the Transfer Date the
Issuing Bank and the New Lender shall acquire the same rights and assume the same obligations between themselves as they would have acquired and assumed had the New Lender been an Original Lender with the rights and/or obligations acquired or
assumed by it as a result of the transfer and to that extent the Issuing Bank and the Existing Lender shall each be released from further obligations to each other under this Agreement. 

 

	7.3	Fee payable in respect of Letters of Credit 

  

	 	(a)	The Company shall pay (or procure that the relevant Borrower pays) to the Agent (for the account of the Issuing Bank) a fronting fee and a processing fee in respect of
each Letter of Credit requested by it in the amount and at the times agreed in the letter dated on or about the date of this Agreement between the Agent and the Company. A reference in this Agreement to a Fee Letter shall include the letter referred
to in this paragraph. 

  

	 	(b)	 Each Borrower shall pay to the Agent (for the account of each Lender) a Letter of Credit fee in US Dollars computed at the same rate as the Applicable
Margin on the outstanding amount of each Letter of Credit requested by it for the period from the date of this Agreement and on the cancelled amount of any 

  
 - 39 -

	 	
Lender’s Commitment at any time a cancellation in full is effective. This fee shall be distributed according to each Lender’s L/C Proportion of that Letter of Credit.

  

	 	(c)	The accrued Letter of Credit fee on a Letter of Credit shall be payable (i) on the last day of each successive period of three Months which ends during the period
beginning on the date of this Agreement and ending on the last day of the Availability Period, (ii) on the last day of the Availability Period and, (iii) if cancelled in full, on the cancelled amount of the relevant Lender’s
Commitment at the time the cancellation is effective. 

  

	 	(d)	If a Borrower cash covers any part of a Letter of Credit then: 

  

	 	(i)	the fronting fee payable to the Issuing Bank and the Letter of Credit fee payable for the account of each Lender shall continue to be payable until the expiry of the
Letter of Credit; 

  

	 	(ii)	the Borrower will be entitled to withdraw the interest accrued on the cash cover to pay those fees. 

 

	7.4	Claims under a Letter of Credit 

  

	 	(a)	Each Borrower irrevocably and unconditionally authorises the Issuing Bank to pay any claim made or purported to be made under a Letter of Credit requested by it and
which appears on its face to be in order and to satisfy the conditions of such Letter of Credit for a claim thereunder (a “claim”). 

  

	 	(b)	Each Borrower which requested a Letter of Credit shall immediately on demand pay to the Agent for the Issuing Bank an amount equal to the amount of any claim under that
Letter of Credit. 

  

	 	(c)	Each Borrower acknowledges that the Issuing Bank: 

  

	 	(i)	is not obliged to carry out any investigation or seek any confirmation from any other person before paying a claim; and 

 

	 	(ii)	deals in documents only and will not be concerned with the legality of a claim or any underlying transaction or any available set-off, counterclaim or other defence of
any person. 

  

	 	(d)	The obligations of a Borrower under this Clause will not be affected by: 

  

	 	(i)	the sufficiency, accuracy or genuineness of any claim or any other document; or 

 

	 	(ii)	any incapacity of, or limitation on the powers of, any person signing a claim or other document. 

 

	7.5	Indemnities 

  

	 	(a)	 Each Borrower shall immediately on demand indemnify the Issuing Bank against any reasonably documented cost, loss or liability incurred by the

  
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Issuing Bank (otherwise than by reason of the Issuing Bank’s gross negligence or wilful misconduct) in acting as the Issuing Bank under any Letter of Credit requested by that Borrower.

  

	 	(b)	Unless the Issuing Bank has been reimbursed by an Obligor pursuant to a Finance Document each Lender shall (according to its L/C Proportion) immediately on demand
indemnify the Issuing Bank against any cost, loss or liability incurred by the Issuing Bank (otherwise than by reason of the Issuing Bank’s gross negligence or wilful misconduct) in acting as the Issuing Bank under any Letter of Credit.

  

	 	(c)	If any Lender is not permitted (by its constitutional documents or any applicable law) to comply with paragraph (b) above, then that Lender will not be obliged to
comply with paragraph (b) and shall instead be deemed to have taken, on the date the Letter of Credit is issued (or if later, on the date the Lender’s participation in the Letter of Credit is transferred or assigned to the Lender in
accordance with the terms of this Agreement), an undivided interest and participation in the Letter of Credit in an amount equal to its L/C Proportion of that Letter of Credit. On receipt of demand from the Agent, that Lender shall pay to the Agent
(for the account of the Issuing Bank) an amount equal to its L/C Proportion of the amount demanded under paragraph (b) above. 

  

	 	(d)	The Borrower which requested a Letter of Credit shall immediately on demand reimburse any Lender for any payment it makes to the Issuing Bank under this Clause 7.5
(Indemnities) in respect of that Letter of Credit. 

  

	 	(e)	The obligations of each Lender under this Clause are continuing obligations and will extend to the ultimate balance of sums payable by that Lender in respect of any
Letter of Credit, regardless of any intermediate payment or discharge in whole or in part. 

  

	 	(f)	The obligations of any Lender under this Clause will not be affected by any act, omission, matter or thing which, but for this Clause, would reduce, release or
prejudice any of its obligations under this Clause (without limitation and whether or not known to it or any other person) including: 

  

	 	(i)	any time, waiver or consent granted to, or composition with, any Obligor, any beneficiary under a Letter of Credit or other person; 

 

	 	(ii)	the release of any other Obligor or any other person under the terms of any composition or arrangement; 

 

	 	(iii)	the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any rights against, or security over assets
of, any Obligor, any beneficiary under a Letter of Credit or other person or any non-presentation or non-observance of any formality or other requirement in respect of any instrument or any failure to realise the full value of any security;

  
 - 41 -

	 	(iv)	any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or status of an Obligor, any beneficiary under a Letter of
Credit or any other person; 

  

	 	(v)	any amendment (however fundamental) or replacement of a Finance Document, any Letter of Credit or any other document or security; 

 

	 	(vi)	any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document, any Letter of Credit or any other document or security; or

  

	 	(vii)	any insolvency or similar proceedings. 

  

	7.6	Cash collateral by Non-Acceptable L/C Lender 

  

	 	(a)	If, at any time, a Lender under the Revolving Facility is a Non-Acceptable L/C Lender, the Issuing Bank may, by notice to that Lender, request that Lender to pay and
that Lender shall pay, on or prior to the date falling 5 Business Days after the request by the Issuing Bank, an amount equal to that Lender’s L/C Proportion of the outstanding amount of a Letter of Credit and in the currency of that Letter of
Credit to an interest-bearing account held in the name of that Lender with the Issuing Bank. 

  

	 	(b)	The Non-Acceptable L/C Lender to whom a request has been made in accordance with paragraph (a) above shall enter into a security document or other form of
collateral arrangement over the account, in form and substance satisfactory to the Issuing Bank, as collateral for any amounts due and payable under the Finance Documents by that Lender to the Issuing Bank in respect of that Letter of Credit.

  

	 	(c)	Until no amount is or may be outstanding under that Letter of Credit, withdrawals from the account may only be made to pay to the Issuing Bank amounts due and payable
to the Issuing Bank by the Non-Acceptable L/C Lender under the Finance Documents in respect of that Letter of Credit. 

  

	 	(d)	Each Lender under the Revolving Facility shall notify the Agent and the Company: 

 

	 	(i)	on the date of this Agreement or on any later date on which it becomes such a Lender in accordance with Clause 2.2 (Increase in Total Commitments) or Clause 32
(Changes to the Lenders) whether it is a Non-Acceptable L/C Lender; and 

  

	 	(ii)	as soon as practicable upon becoming aware of the same, that it has become a Non-Acceptable L/C Lender, 

and an indication in Schedule 1 (The Original Parties), in a Transfer Certificate, in an Assignment Agreement, in a Further Lender
Accession Letter or in a Commitment Increase Notice to that effect will constitute a notice under paragraph (d)(i) to the Agent and, upon delivery in accordance with Clause 32.8 (Copy Documents to Company). 

  
 - 42 -

	 	(e)	Any notice received by the Agent pursuant to paragraph (d) above shall constitute notice to the Issuing Bank of that Lender’s status and the Agent shall, upon
receiving each such notice, promptly notify the Issuing Bank of that Lender’s status as specified in that notice. 

  

	 	(f)	If a Lender who has provided cash collateral in accordance with this Clause 7.6: 

 

	 	(i)	ceases to be a Non-Acceptable L/C Lender; and 

  

	 	(ii)	no amount is due and payable by that Lender in respect of a Letter of Credit, 

 that Lender may, at any time it is not a Non-Acceptable L/C Lender, by notice to the Issuing Bank request that an amount equal to the amount of the cash provided by it as collateral in respect of that
Letter of Credit (together with any accrued interest) standing to the credit of the relevant account held with the Issuing Bank be returned to it and the Issuing Bank shall pay that amount to the Lender within five Business Days after the request
from the Lender (and shall cooperate with the Lender in order to procure that the relevant security or collateral arrangement is released and discharged). 
  

	7.7	Cash cover by Borrower 

  

	 	(a)	If a Lender which is a Non-Acceptable L/C Lender fails to provide cash collateral (or notifies the Issuing Bank that it will not provide cash collateral) in accordance
with Clause 7.6 (Cash collateral by Non-Acceptable L/C Lender) and the Issuing Bank notifies the Obligors’ Agent (with a copy to the Agent) that it requires the Borrower of the relevant Letter of Credit or proposed Letter of Credit to
provide cash cover to an account (held in the name of the Borrower) with the Issuing Bank in an amount equal to that Lender’s L/C Proportion of the outstanding amount of that Letter of Credit and in the currency of that Letter of Credit then
that Borrower shall do so within five Business Days after the notice is given. 

  

	 	(b)	Notwithstanding paragraph (d) of Clause 1.2 (Construction) the Issuing Bank may agree to the withdrawal of amounts up to the level of that cash cover from
the account if: 

  

	 	(i)	it is satisfied that the relevant Lender is no longer a Non-Acceptable L/C Lender; or 

 

	 	(ii)	the relevant Lender’s obligations in respect of the relevant Letter of Credit are transferred to a New Lender in accordance with the terms of this Agreement; or

  

	 	(iii)	an Increase Lender has agreed to undertake the obligations in respect of the relevant Lender’s L/C Proportion of the Letter of Credit. 

 

	 	(c)	To the extent that a Borrower has complied with its obligations to provide cash cover in accordance with this Clause 7.7, the relevant Lender’s L/C Proportion in
respect of that Letter of Credit will remain (but that Lender’s obligations in relation to that Letter of Credit may be satisfied in accordance with paragraph (d)(ii) of Clause 1.2 (Construction)). 

  
 - 43 -

	7.8	Rights of contribution 

No Obligor will be entitled to any right of contribution or indemnity from any Finance Party in respect of any payment it may make under
this Clause 7. 
  

	8.	DOLLAR SWINGLINE FACILITY 

  

	8.1	General 

  

	 	(a)	Clause 4.2 (Further conditions precedent) and 4.3 (Conditions relating to Optional Currencies); 

 

	 	(b)	Clause 5 (Utilisation – Revolving Facility Loans); 

  

	 	(c)	Clause 6 (Utilisation – Letters of Credit); 

  

	 	(d)	Clause 14 (Optional currencies); 

  

	 	(e)	Clause 17 (Interest) as it applies to the calculation of interest on a Loan but not default interest on an overdue amount; 

 

	 	(f)	Clause 18 (Interest Periods); and 

  

	 	(g)	Clause 19 (Changes to the calculation of interest), 

 do not apply to Dollar Swingline Loans. 
  

	8.2	Dollar Swingline Facility 

Subject to the terms of this Agreement, the Dollar Swingline Lender makes available to the Borrowers a dollar swingline loan facility in
an aggregate amount equal to the Swingline Amount. 
  

	8.3	Purpose 

 Each Borrower
shall apply all amounts borrowed by it under the Dollar Swingline Facility towards dividends, share repurchases (other than (i) any acquisition or repurchase of shares in contravention of Section 47A of the Companies Ordinance (Cap 32) of
the Laws of Hong Kong or (ii) any financing or refinancing of the acquisition of or subscription for shares in any Belgian Obligor (save as authorised by Article 329 of the Belgian company law and for share buy-backs carried out in accordance
with Belgian company law)), acquisitions, working capital and other general corporate purposes. A Dollar Swingline Loan may not be applied in repayment or prepayment of another Swingline Loan. 

  
 - 44 -

	9.	UTILISATION - DOLLAR SWINGLINE LOANS 

  

	9.1	Delivery of a Utilisation Request for Dollar Swingline Loans 

 A Borrower may utilise the Dollar Swingline Facility by delivery to the Dollar Swingline Agent (copied to the Agent and to the Dollar Swingline Lender) of a duly completed Utilisation Request not later
than the Specified Time. 
  

	9.2	Completion of a Utilisation Request for Dollar Swingline Loans 

  

	 	(a)	Each Utilisation Request for a Dollar Swingline Loan is irrevocable and will not be regarded as having been duly completed unless: 

 

	 	(i)	it identifies the Borrower; 

  

	 	(ii)	it specifies that it is for a Dollar Swingline Loan; 

  

	 	(iii)	the proposed Utilisation Date is a New York Business Day within the Availability Period; 

 

	 	(iv)	the Dollar Swingline Loan is denominated in US Dollars; 

  

	 	(v)	the amount of the proposed Dollar Swingline Loan is not more than the Available Dollar Swingline Facility and is a minimum of USD500,000 or, if less, the Available
Dollar Swingline Facility; and 

  

	 	(vi)	the proposed Interest Period: 

  

	 	(A)	does not overrun the Termination Date; 

  

	 	(B)	is a period of not more than 10 New York Business Days; and 

  

	 	(C)	ends on a New York Business Day. 

  

	 	(b)	Only one Dollar Swingline Loan may be requested in each Utilisation Request. 

 

	9.3	Dollar Swingline Loan Conditions 

  

	 	(a)	If the conditions set out in this Agreement have been met, the Dollar Swingline Lender shall make each Dollar Swingline Loan available through its Facility Office in
New York City. 

  

	 	(b)	The Dollar Swingline Lender will only be obliged to comply with paragraph (a) above if on the date of the Utilisation Request and on the proposed Utilisation Date:

  

	 	(i)	there are no Defaulting Lenders (unless such Defaulting Lender has had its Commitment repaid and cancelled in full or it has been replaced pursuant to Clause 16.5
(Right of replacement or repayment and cancellation in relation to a single Lender)); 

  
 - 45 -

	 	(ii)	no Default is continuing or would result from the proposed Utilisation; and 

 

	 	(iii)	the Repeating Representations to be made by each Obligor are true in all material respects. 

 

	 	(c)	The Dollar Swingline Agent shall notify the Agent, the Dollar Swingline Lender and the other Lenders of the amount of each Dollar Swingline Loan by the Specified Time.

  

	9.4	Relationship with the Revolving Facility 

  

	 	(a)	This sub-clause applies when a Dollar Swingline Loan is outstanding or is to be borrowed. 

 

	 	(b)	The Revolving Facility may be used by way of Dollar Swingline Loans. The Dollar Swingline Facility is not independent of the Revolving Facility.

  

	 	(c)	Notwithstanding any other term of this Agreement a Lender is only obliged to participate in a Loan to the extent that it would not result in the Base Currency Amount of
its participation (and that of a Lender which is its Designated Entity) in the Loans exceeding its Overall Commitment. 

  

	 	(d)	Where, but for the operation of paragraph (c) above, the Base Currency Amount of a Lender’s participation (and that of a Lender which is its Designated
Entity) in the Loans would have exceeded its Overall Commitment, the excess will be apportioned among the other Lenders participating in the relevant Loan pro rata according to their Commitments. This calculation will be applied as often as
necessary until the Loan is apportioned among the relevant Lenders in a manner consistent with paragraph (c) above. 

  

	10.	DOLLAR SWINGLINE LOANS 

  

	10.1	Dollar Swingline Loan Participation 

  

	 	(a)	Although the Dollar Swingline Lender makes each Dollar Swingline Loan subject to the terms of this Agreement, each Lender agrees it is deemed to have a participation in
each Dollar Swingline Loan in an amount equal to its Dollar Swingline Proportion and it further agrees that if required pursuant to the operation of this Clause 10.1 it will fund such amount. 

 

	 	(b)	The Dollar Swingline Lender may, by written notice to the Dollar Swingline Agent not later than 9:00 a.m., New York time on any Business Day require each of the other
Lenders to fund its participation on such Business Day in all or a portion of the Dollar Swingline Loans outstanding in an amount equal to its Dollar Swingline Proportion of such Dollar Swingline Loans. 

 

	 	(c)	Such notice shall specify the amount of the Dollar Swingline Loans in which the Dollar Swingline Lender requires the Lenders to fund its participation. The Dollar
Swingline Agent will give written notice thereof to each Lender (with a copy to the Company) not later than 10:00 a.m., New York time, specifying in such notice the relevant Lender’s Dollar Swingline Proportion of each Dollar Swingline Loan.

  
 - 46 -

	 	(d)	Each Lender acknowledges and agrees that its obligation to fund participations in Dollar Swingline Loans pursuant to this Clause 10.1 is absolute and unconditional and
shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any set-off, withholding or reduction
whatsoever. 

  

	 	(e)	Each Lender shall comply with its obligation under this Clause 10.1 by wire transfer of immediately available funds to the Dollar Swingline Agent by 5:00 p.m., New York
time and the Dollar Swingline Agent shall promptly pay the amounts so received to the Dollar Swingline Lender. 

  

	 	(f)	Any amounts received by the Dollar Swingline Lender from any Borrower (or other party on behalf of any Borrower) in respect of a Dollar Swingline Loan after receipt by
the Dollar Swingline Lender of the proceeds of participations therein shall be promptly remitted to the Dollar Swingline Agent; any such amounts received by the Dollar Swingline Agent shall be promptly remitted by the Dollar Swingline Agent to the
Lenders that shall have made their payments pursuant to this Clause 10.1 and to the Dollar Swingline Lender, in the amount that is proportionate to their shares. 

 

	 	(g)	Any payment under this Clause does not reduce the obligations of the Obligors. 

 

	10.2	Repayment of Dollar Swingline Loans 

 Each Borrower that has drawn a Dollar Swingline Loan shall repay that Dollar Swingline Loan on the last day of its Interest Period. 

 

	10.3	Voluntary Prepayment of Dollar Swingline Loans 

  

	 	(a)	The Borrower to which a Dollar Swingline Loan has been made may prepay at any time (with accrued interest and, subject to any Break Costs, without premium or penalty)
the whole of that Dollar Swingline Loan. 

  

	 	(b)	Unless a contrary indication appears in this Agreement, any part of the Dollar Swingline Facility which is prepaid may be reborrowed in accordance with the terms of
this Agreement. 

  

	10.4	Interest 

  

	 	(a)	The rate of interest on each Dollar Swingline Loan for any day during its Interest Period is the aggregate of: 

 

	 	(i)	the Applicable Margin; and 

  

	 	(ii)	the rate per annum being the highest of: 

  

	 	(A)	The Bank of America Prime Rate; 

  
 - 47 -

	 	(B)	The Federal Funds Rate (as published by the Federal Reserve Bank of New York) plus 0.50 per cent. per annum; and 

 

	 	(C)	one month USD LIBOR plus 1.00 per cent. per annum; 

 or, if Bank of America, N.A. is the sole Lender with a funded participation in a Dollar Swingline Loan, the rate per annum being the highest of: 

 

	 	(A)	The Bank of America Prime Rate minus 0.75 per cent. per annum; 

  

	 	(B)	The Federal Funds Rate (as published by the Federal Reserve Bank of New York) plus 0.50 per cent. per annum; and 

 

	 	(C)	one month USD LIBOR plus 1.00 per cent. per annum. 

  

	 	(b)	The Dollar Swingline Agent shall promptly notify the Dollar Swingline Lender and the relevant Borrower of the determination of the rate of interest under paragraph
(a) above, such notification to be made daily by no later than 1:00 p.m. on each day of the relevant Interest Period. 

  

	 	(c)	If any day during an Interest Period is not a New York Business Day, the rate of interest on a Dollar Swingline Loan on that day will be the rate applicable to the
immediately preceding New York Business Day. 

  

	 	(d)	Each Borrower shall pay accrued interest on each Dollar Swingline Loan made to it on the last day of its Interest Period. 

 

	 	(e)	For the avoidance of doubt accrued interest and utilisation fee (if applicable) on each Dollar Swingline Loan is solely for the benefit of the Dollar Swingline Lender
until such time, if any, as a Lender funds its participation in such Dollar Swingline Loan pursuant to Clause 10.1 (Dollar Swingline Loan Participation) at which time such Lender becomes entitled to interest and utilisation fee (if
applicable) on the amount and from the date it has funded. 

  

	10.5	Interest Period 

  

	 	(a)	Each Dollar Swingline Loan has one Interest Period only. 

  

	 	(b)	The Interest Period for a Dollar Swingline Loan must be selected in the relevant Utilisation Request. 

 

	10.6	Dollar Swingline Agent 

Notwithstanding any other term of this Agreement and without limiting the liability of any Obligor under the Finance Documents, each
Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their reduction to zero) pay to or indemnify the Dollar Swingline Agent, within
three Business Days of demand, for or against any cost, loss or liability incurred by the Dollar Swingline Agent (other than by reason of the Dollar Swingline Agent’s gross negligence or wilful

  
 - 48 -

 
misconduct) in acting as Dollar Swingline Agent in respect of the Dollar Swingline Facility under the Finance Documents (unless the Dollar Swingline Agent has been reimbursed by an Obligor
pursuant to a Finance Document). 
  

	11.	EURO SWINGLINE FACILITY 

  

	11.1	General 

  

	 	(a)	Clause 4.2 (Further conditions precedent) and 4.3 (Conditions relating to Optional Currencies); 

 

	 	(b)	Clause 5 (Utilisation – Revolving Facility Loans); 

  

	 	(c)	Clause 6 (Utilisation – Letters of Credit); 

  

	 	(d)	Clause 14 (Optional currencies); 

  

	 	(e)	Clause 17 (Interest) as it applies to the calculation of interest on a Loan but not default interest on an overdue amount; and 

 

	 	(f)	Clause 18 (Interest Periods), 

 do not apply to Euro Swingline Loans. 
  

	11.2	Euro Swingline Facility 

Subject to the terms of this Agreement, the Euro Swingline Lender makes available to the Borrowers a euro swingline loan facility in an
aggregate amount equal to the Swingline Amount. 
  

	11.3	Purpose 

 Each Borrower
shall apply all amounts borrowed by it under the Euro Swingline Facility towards dividends, share repurchases (other than (i) any acquisition or repurchase of shares in contravention of Section 47A of the Companies Ordinance (Cap 32) of
the Laws of Hong Kong or (ii) any financing or refinancing of the acquisition of or subscription for shares in any Belgian Obligor (save as authorised by Article 329 of the Belgian company law and for share buy-backs carried out in accordance
with Belgian company law)), acquisitions, working capital and other general corporate purposes. A Euro Swingline Loan may not be applied in repayment or prepayment of another Swingline Loan. 

 

	12.	UTILISATION - EURO SWINGLINE LOANS 

  

	12.1	Delivery of a Utilisation Request for Euro Swingline Loans 

 A Borrower may utilise the Euro Swingline Facility by delivery to the Euro Swingline Agent (copied to the Agent and to the Euro Swingline Lender) of a duly completed Utilisation Request not later than the
Specified Time. 

  
 - 49 -

	12.2	Completion of a Utilisation Request for Euro Swingline Loans 

  

	 	(a)	Each Utilisation Request for a Euro Swingline Loan is irrevocable and will not be regarded as having been duly completed unless: 

 

	 	(i)	it identifies the Borrower; 

  

	 	(ii)	it specifies that it is for a Euro Swingline Loan; 

  

	 	(iii)	the proposed Utilisation Date is a TARGET Day within the Availability Period; 

 

	 	(iv)	the Euro Swingline Loan is denominated in euro; 

  

	 	(v)	the amount of the proposed Euro Swingline Loan is an amount whose Base Currency Amount is not more than the Available Euro Swingline Facility and is a minimum of the
euro equivalent of USD500,000 or, if less, the Available Euro Swingline Facility; and 

  

	 	(vi)	the proposed Interest Period: 

  

	 	(A)	does not overrun the Termination Date; 

  

	 	(B)	is a period of not more than 10 TARGET Days; and 

  

	 	(C)	ends on a TARGET Day. 

  

	 	(b)	Only one Euro Swingline Loan may be requested in each Utilisation Request. 

 

	12.3	Euro Swingline Loan Conditions 

  

	 	(a)	If the conditions set out in this Agreement have been met, the Euro Swingline Lender shall make each Euro Swingline Loan available through its Facility Office in
London. 

  

	 	(b)	The Euro Swingline Lender will only be obliged to comply with paragraph (a) above if on the date of the Utilisation Request and on the proposed Utilisation Date:

  

	 	(i)	there are no Defaulting Lenders (unless such Defaulting Lender has had its Commitment repaid and cancelled in full or it has been replaced pursuant to Clause 16.5
(Right of replacement or repayment and cancellation in relation to a single Lender)); 

  

	 	(ii)	no Default is continuing or would result from the proposed Utilisation; and 

 

	 	(iii)	the Repeating Representations to be made by each Obligor are true in all material respects. 

 

	 	(c)	The Euro Swingline Agent shall determine the Base Currency Amount of each Euro Swingline Loan and notify the Agent, the Euro Swingline Lender and the other Lenders of
the amount of each Euro Swingline Loan by the Specified Time. 

  
 - 50 -

	12.4	Relationship with the Revolving Facility 

  

	 	(a)	This sub-clause applies when a Euro Swingline Loan is outstanding or is to be borrowed. 

 

	 	(b)	The Revolving Facility may be used by way of Euro Swingline Loans. The Euro Swingline Facility is not independent of the Revolving Facility. 

 

	 	(c)	Notwithstanding any other term of this Agreement a Lender is only obliged to participate in a Loan to the extent that it would not result in the Base Currency Amount of
its participation (and that of a Lender which is its Designated Entity) in the Loans exceeding its Overall Commitment. 

  

	 	(d)	Where, but for the operation of paragraph (c) above, the Base Currency Amount of a Lender’s participation (and that of a Lender which is its Designated
Entity) in the Loans would have exceeded its Overall Commitment, the excess will be apportioned among the other Lenders participating in the relevant Loan pro rata according to their Commitments. This calculation will be applied as often as
necessary until the Loan is apportioned among the relevant Lenders in a manner consistent with paragraph (c) above. 

  

	13.	EURO SWINGLINE LOANS 

  

	13.1	Euro Swingline Loan Participation 

  

	 	(a)	Although the Euro Swingline Lender makes each Euro Swingline Loan subject to the terms of this Agreement, each Lender agrees it is deemed to have a participation in
each Euro Swingline Loan in an amount equal to its Euro Swingline Proportion and it further agrees that if required pursuant to the operation of this Clause 13.1, it will fund such amount. 

 

	 	(b)	The Euro Swingline Lender may, by written notice to the Euro Swingline Agent not later than 9:00 a.m., London time on any Business Day require each of the other Lenders
to fund its participation on such Business Day in all or a portion of the Euro Swingline Loans outstanding in an amount equal to the Euro Swingline Proportion of such Euro Swingline Loans. 

 

	 	(c)	Such notice shall specify the amount of the Euro Swingline Loans in which the Euro Swingline Lender requires the Lenders to fund its participation. The Euro Swingline
Agent will give written notice thereof to each Lender (with a copy to the Company) not later than 10:00 a.m., London time, specifying in such notice the relevant Lender’s Euro Swingline Proportion of each Euro Swingline Loan.

  

	 	(d)	Each Lender acknowledges and agrees that its obligation to acquire participations in Euro Swingline Loans pursuant to this Clause 13.1 is absolute and unconditional and
shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the Commitments, and that each such payment shall be made without any set-off, abatement, withholding or
reduction whatsoever. 

  
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	 	(e)	Each Lender shall comply with its obligation under this Clause 13.1 by wire transfer of immediately available funds to the Euro Swingline Agent by 5:00 p.m., London
time and the Euro Swingline Agent shall promptly pay the amounts so received to the Euro Swingline Lender. 

  

	 	(f)	Any amounts received by the Euro Swingline Lender from any Borrower (or other party on behalf of any Borrower) in respect of a Euro Swingline Loan after receipt by the
Euro Swingline Lender of the proceeds of participations therein shall be promptly remitted to the Euro Swingline Agent; any such amounts received by the Euro Swingline Agent shall be promptly remitted by the Euro Swingline Agent to the Lenders that
shall have made their payments pursuant to this Clause 13.1 and to the Euro Swingline Lender in the amount that is proportionate to their shares. 

  

	 	(g)	Any payment under this Clause does not reduce the obligations of the Obligors. 

 

	13.2	Repayment of Euro Swingline Loans 

 Each Borrower that has drawn a Euro Swingline Loan shall repay that Euro Swingline Loan on the last day of its Interest Period. 

 

	13.3	Voluntary Prepayment of Euro Swingline Loans 

  

	 	(a)	The Borrower to which a Euro Swingline Loan has been made may prepay at any time the whole of that Euro Swingline Loan. 

 

	 	(b)	Unless a contrary indication appears in this Agreement, any part of the Euro Swingline Facility which is prepaid may be reborrowed in accordance with the terms of this
Agreement. 

  

	13.4	Interest 

  

	 	(a)	The rate of interest on each Euro Swingline Loan for its Interest Period is the aggregate of: 

 

	 	(i)	the Applicable Margin; 

  

	 	(ii)	the rate per annum equal to the sum of the higher of: 

  

	 	(A)	the rate of interest per annum at which the overnight deposits in Euro in an amount approximately equal to the amount with respect to which such rate is being
determined, would be offered for such by the Euro Swingline Agent to major banks in the local market; and 

  

	 	(B)	the cost of funds to the Euro Swingline Agent with respect to such amounts for such day, expressed as a rate of interest per annum; plus 

  
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	 	(iii)	Mandatory Cost (if any). 

  

	 	(b)	The Euro Swingline Agent shall promptly notify the Euro Swingline Lenders and the relevant Borrower of the determination of the rate of interest under paragraph
(a) above. 

  

	 	(c)	Each Borrower shall pay accrued interest on each Euro Swingline Loan made to it on the last day of its Interest Period. 

 

	 	(d)	For the avoidance of doubt accrued interest and utilisation fee (if applicable) on each Euro Swingline Loan is solely for the benefit of the Euro Swingline Lender until
such time, if any, as a Lender funds its participation in such Euro Swingline Loan pursuant to Clause 13.1 (Euro Swingline Loan Participation) at which time such Lender becomes entitled to interest and utilisation fee (if applicable) on the
amount and from the date it has funded. 

  

	13.5	Interest Period 

  

	 	(a)	Each Euro Swingline Loan has one Interest Period only. 

  

	 	(b)	The Interest Period for a Euro Swingline Loan must be selected in the relevant Utilisation Request. 

 

	13.6	Euro Swingline Agent 

Notwithstanding any other term of this Agreement and without limiting the liability of any Obligor under the Finance Documents, each
Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their reduction to zero) pay to or indemnify the Euro Swingline Agent, within
three Business Days of demand, for or against any cost, loss or liability incurred by the Euro Swingline Agent (other than by reason of the Euro Swingline Agent’s gross negligence or wilful misconduct) in acting as Euro Swingline Agent in
respect of the Euro Swingline Facility under the Finance Documents (unless the Euro Swingline Agent has been reimbursed by an Obligor pursuant to a Finance Document). 
  

	14.	OPTIONAL CURRENCIES 

  

	14.1	Selection of currency 

 A
Borrower (or the Company on behalf of a Borrower) shall select the currency of a Utilisation in a Utilisation Request. 
  

	14.2	Unavailability of a currency 

 If before the Specified Time on any Quotation Day: 
  

	 	(a)	a Lender notifies the Agent that the Optional Currency requested is not readily available to it in the amount required; or 

  
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	 	(b)	a Lender notifies the Agent that compliance with its obligation to participate in a Loan in the proposed Optional Currency would contravene a law or regulation
applicable to it, 

 the Agent will give notice to the relevant Borrower and the Company to that effect by the
Specified Time on that day. In this event, any Lender that gives notice pursuant to this Clause 14.2 will be required to participate in the Loan in the Base Currency (in an amount equal to that Lender’s proportion of the Base Currency Amount
or, in respect of a Rollover Loan, an amount equal to that Lender’s proportion of the Base Currency Amount of the Rollover Loan that is due to be made) and its participation will be treated as a separate Loan denominated in the Base Currency
during that Interest Period, provided that: 
  

	 	(i)	any part of a Loan treated as a separate Loan under this Clause 14.2 will not be taken into account for the purposes of any limit on the number of Loans or currencies
outstanding at any one time; and 

  

	 	(ii)	a Loan will still be treated as a Rollover Loan if it is not denominated in the same currency as the maturing Loan by reason only of the operation of this Clause 14.2.

  

	14.3	Participation in a Loan 

Each Lender’s participation in a Loan will be determined in accordance with paragraph (b) of Clause 5.4 (Lenders’
participation). 

  
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 SECTION 4 
 REPAYMENT, PREPAYMENT AND CANCELLATION 
  

	15.	REPAYMENT OF LOANS 

  

	15.1	Each Borrower which has drawn a Revolving Facility Loan shall repay that Revolving Facility Loan on the last day of its Interest Period. The obligations of the
Borrowers under this Agreement are several and not joint. 

  

	15.2	Cashless rollover 

Without prejudice to each Borrower’s obligation under Clause 11.1 (General), if one or more Revolving Facility Loans are to be
made available to any Borrower: 
  

	 	(a)	on the same day that a maturing Revolving Facility Loan is due to be repaid by that Borrower; 

 

	 	(b)	in the same currency as the maturing Revolving Facility Loan (unless it arose as a result of the operation of Clause 14.2 (Unavailability of a currency); and

  

	 	(c)	in whole or in part for the purpose of refinancing the maturing Revolving Facility Loan, 

the aggregate amount of the new Revolving Facility Loans shall be treated as if applied in or towards repayment of the maturing Revolving
Facility Loan so that: 
  

	 	(i)	if the amount of the maturing Revolving Facility Loan exceeds the aggregate amount of the new Revolving Facility Loans: 

 

	 	(A)	the relevant Borrower will only be required to pay an amount in cash in the relevant currency equal to that excess; and 

 

	 	(B)	each Lender’s participation (if any) in the new Revolving Facility Loans shall be treated as having been made available and applied by the Borrower in or towards
repayment of that Lender’s participation (if any) in the maturing Revolving Facility Loan and that Lender will not be required to make its participation in the new Revolving Facility Loans available in cash; and 

 

	 	(ii)	if the amount of the maturing Revolving Facility Loan is equal to or less than the aggregate amount of the new Revolving Facility Loans: 

 

	 	(A)	the relevant Borrower will not be required to make any payment in cash; and 

 

	 	(B)	 each Lender will be required to make its participation in the new Revolving Facility Loans available in cash only to the extent that its participation
(if any) in the new Revolving Facility Loans exceeds that Lender’s participation (if any) in the maturing Revolving Facility Loan and the remainder of that Lender’s participation in the new Revolving Facility Loans

  
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shall be treated as having been made available and applied by the Borrower in or towards repayment of that Lender’s participation in the maturing Revolving Facility Loan.

  

	16.	PREPAYMENT AND CANCELLATION 

  

	16.1	Illegality 

  

	 	(a)	If, at any time, it is or will become unlawful in any applicable jurisdiction for a Lender to perform any of its obligations as contemplated by this Agreement or to
fund or maintain its participation in any Utilisation, that Lender shall promptly notify the Agent upon becoming aware of that event and shall take all reasonable steps to mitigate in accordance with Clause 24.1 (Mitigation) and without
prejudice to such Lender’s obligations under Clause 24.1 (Mitigation); 

  

	 	(i)	within 20 Business Days of the Agent notifying the Company, the Company may, by written notice to the Agent and that Lender, require that Lender to transfer its
Commitment to a replacement Lender in accordance with paragraph (d) of Clause 16.5(d) (Right of replacement or repayment and cancellation in relation to a single lender); and 

 

	 	(ii)	If the Company does not deliver a notice under paragraph (i) above within 20 Business Days of receipt of notice from the Agent, the Commitment of that Lender will
be immediately cancelled and each Borrower shall repay that Lender’s participation in the Utilisations made to that Borrower on the last day of the Interest Period for each Utilisation occurring after the Agent has notified the Company or, if
earlier, the date specified by the Lender in the notice delivered to the Agent. 

  

	 	(b)	If at any time it is or will become unlawful for the Issuing Bank to issue or leave outstanding any Letter of Credit, the Issuing Bank shall promptly notify the Agent
upon becoming aware of that event, and upon the Agent notifying the Company, the Facility shall cease to be available for the issue of Letters of Credit and each Borrower shall use its reasonable endeavours to procure the release of each Letter of
Credit requested by that Borrower and outstanding at such time as soon as practicable. 

  

	16.2	Change of control 

  

	 	(a)	If, at any time, any person or group of persons acting in concert gains control of the Company: 

 

	 	(i)	the Company shall promptly notify the Agent upon becoming aware of that event; 

 

	 	(ii)	a Lender shall not be obliged to fund a Utilisation (except for a Rollover Loan) including for the avoidance of doubt, during any Consultation Period (as defined in
sub-paragraph (iii) below) or any Notice Period (as defined in sub-paragraph (iv) below); 

  
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	 	(iii)	the Company may by notice to the Agent (upon receipt of which the Agent shall promptly notify the other Lenders) commence a consultation period of not less than 10 days
with the Lenders in respect of such change of control (a “Consultation Period”) with a view to agreeing whether the Facilities shall continue to be made available and on what terms; 

 

	 	(iv)	if no agreement is reached between the Company and the Lenders pursuant to paragraph (iii) above and if a Lender so requires and notifies the Agent at any time
following the end of a Consultation Period, the Agent shall, by not less than 20 days’ notice to the Company (the “Notice Period”), cancel the Commitment of that Lender and declare the participation of that Lender in all
outstanding Utilisations, together with accrued interest and all other amounts accrued under the Finance Documents, immediately due and payable, at which time the Commitment of that Lender will be cancelled and all such outstanding amounts will
become immediately due and payable. 

  

	 	(b)	For the purpose of paragraph (a) above “control” means: 

 

	 	(i)	the power (whether by way of ownership of shares, proxy, contract, agency or otherwise) to: 

 

	 	(A)	cast, or control the casting of, more than one-half of the maximum number of votes that might be cast at a general meeting of the Company; or 

 

	 	(B)	appoint or remove all, or the majority, of the directors or other equivalent officers of the Company; or 

 

	 	(C)	give directions with respect to the operating and financial policies of the Company which the directors or other equivalent officers of the Company are obliged to
comply with; or 

  

	 	(ii)	the holding of more than one-half of the issued share capital of the Company (excluding any part of that issued share capital that carries no right to participate
beyond a specified amount in a distribution of either profits or capital). 

  

	 	(iii)	For the purpose of paragraph (a) above “acting in concert” means, a group of persons who, pursuant to an agreement or understanding (whether
formal or informal), actively co-operate, through the acquisition by any of them, either directly or indirectly, of shares in the Company, to obtain or consolidate control of the Company. 

 

	16.3	Voluntary cancellation 

The Company may at any time, if it gives the Agent not less than three Business Days’ (or such shorter period as the Majority Lenders
may agree) prior irrevocable written notice, cancel the whole or any part (being a minimum amount of USD5,000,000, in integral multiples of USD1,000,000) of the Available Facility. Any cancellation under this Clause 16.3 shall reduce the Commitments
of the Lenders rateably. 

  
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	16.4	Voluntary Prepayment of Utilisations 

 The Borrower to which a Utilisation has been made may, if it gives the Agent not less than three Business Days’ (or such shorter period as the Majority Lenders may agree) prior notice, prepay the
whole or any part of a Revolving Facility Loan with accrued interest and, subject to Break Costs, without premium or penalty (but if in part, being an amount that reduces the Base Currency Amount of the Utilisations by a minimum amount of
USD1,000,000). 
  

	16.5	Right of replacement or repayment and cancellation in relation to a single Lender 

 

	 	(a)	If: 

  

	 	(i)	it is or will become unlawful for a Lender to perform any of its obligations as set out under Clause 16.1 (Illegality); 

 

	 	(ii)	any sum payable to any Lender by an Obligor is required to be increased under paragraph (c) of Clause 21.2 (Tax gross-up); 

 

	 	(iii)	any Lender claims indemnification from the Company under Clause 21.3 (Tax indemnity) or Clause 22.1 (Increased costs); or 

 

	 	(iv)	any Lender is a Defaulting Lender, 

 the Company may, whilst (in the case of paragraphs (ii), (iii) and (iv) above) the circumstance giving rise to the requirement for that increase or indemnification continues, give the Agent
notice of cancellation of the Commitment of that Lender and its intention to procure the repayment of that Lender’s participation in the Utilisations, in each case, or give the Agent notice of its intention to replace that Lender in accordance
with paragraph (d) below. 
  

	 	(b)	On receipt of a notice of cancellation referred to in paragraph (a) above, the Commitment of that Lender shall immediately be reduced to zero.

  

	 	(c)	On the last day of each Interest Period which ends after the Company has given notice of cancellation under paragraph (a) above (or, if earlier, the date specified
by the Company in that notice), each Borrower to which a Utilisation is outstanding shall repay that Lender’s participation in that Utilisation. 

  

	 	(d)	 The Company may, in the circumstances set out in paragraph (a) above, on 5 Business Days’ prior notice to the Agent and that Lender, replace
that Lender by requiring that Lender to (and to the extent permitted by law, that Lender shall) transfer pursuant to Clause 32 (Changes to the Lenders) all (and not part only) of its rights and obligations under this Agreement to a Lender or
other bank, financial institution, trust, fund or other entity selected by the Company which confirms its willingness to assume and does assume all the obligations of the transferring Lender in accordance with Clause 32 (Changes to the
Lenders) for a purchase price in cash or other cash payment payable at the 

  
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time of the transfer equal to the outstanding principal amount of such Lender’s participation in the outstanding Utilisations and all accrued interest (to the extent that the Agent has not
given a notification under Clause 32.10 (Pro rata interest settlement), Break Costs and other amounts payable in relation thereto under the Finance Documents. 

 

	 	(e)	The replacement of a Lender pursuant to paragraph (d) above shall be subject to the following conditions: 

 

	 	(i)	the Company shall have no right to replace the Agent; 

  

	 	(ii)	neither the Agent nor any Lender shall have any obligation to find a replacement Lender; and 

 

	 	(iii)	in no event shall the Lender replaced under paragraph (d) above be required to pay or surrender any of the fees received by such Lender pursuant to the Finance
Documents. 

  

	16.6	Restrictions 

  

	 	(a)	Any notice of cancellation or prepayment given by any Party under this Clause 16 shall be irrevocable and, unless a contrary indication appears in this Agreement, shall
specify the date or dates upon which the relevant cancellation or prepayment is to be made and the amount of that cancellation or prepayment. 

  

	 	(b)	Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and, subject to any Break Costs, without premium or penalty.

  

	 	(c)	Unless a contrary indication appears in this Agreement, any part of the Facility which is prepaid or repaid may be reborrowed in accordance with the terms of this
Agreement. 

  

	 	(d)	The Borrowers shall not repay or prepay all or any part of the Utilisations or cancel all or any part of the Commitments except at the times and in the manner expressly
provided for in this Agreement. 

  

	 	(e)	No amount of the Total Commitments cancelled under this Agreement may be subsequently reinstated (other than in accordance with Clause 2.2 (Increase in Total
Commitments)). 

  

	 	(f)	If the Agent receives a notice under this Clause 16 it shall promptly forward a copy of that notice to either the Company or the affected Lender, as appropriate.

  

	 	(g)	If all or part of a Utilisation under the Facility is repaid or prepaid and is not available for redrawing (other than by operation of Clause 4.2 (Further conditions
precedent)), an amount of the Commitments (equal to the Base Currency Amount of the amount of the Utilisation which is repaid or prepaid) in respect of the Facility will be deemed to be cancelled on the date of repayment or prepayment. Any
cancellation under this paragraph (g) shall reduce the Commitments of the Lenders rateably under the Facility. 

  
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 SECTION 5 
 COSTS OF UTILISATION 
  

	17.	INTEREST 

  

	17.1	Calculation of interest 

The rate of interest on each Revolving Facility Loan for each Interest Period is the percentage rate per annum which is the aggregate of
the: 
  

	 	(a)	Applicable Margin; 

  

	 	(b)	LIBOR or, in relation to any Revolving Facility Loan in euro, EURIBOR or, in relation to any Revolving Facility Loan in Hong Kong Dollars, HIBOR or, in relation to any
Revolving Facility Loan in Singapore Dollars, SIBOR; and 

  

	 	(c)	Mandatory Cost, if any. 

  

	17.2	Payment of interest 

 The
Borrower to which a Loan has been made shall pay accrued interest on that Revolving Facility Loan on the last day of each Interest Period (and, if the Interest Period is longer than six Months, on the dates falling at six Monthly intervals after the
first day of the Interest Period). 
  

	17.3	Default interest 

  

	 	(a)	If an Obligor fails to pay any amount payable by it under a Finance Document on its due date, interest shall accrue on the overdue amount from the due date up to the
date of actual payment (both before and after judgment) at a rate which, subject to paragraph (b) below, is one per cent higher than the rate which would have been payable if the overdue amount had, during the period of non-payment, constituted
a Loan in the currency of the overdue amount for successive Interest Periods, each of a duration selected by the Agent (acting reasonably). Any interest accruing under this Clause 17.3 shall be immediately payable by the Obligor on demand by the
Agent. 

  

	 	(b)	If any overdue amount consists of all or part of a Loan which became due on a day which was not the last day of an Interest Period relating to that Loan:

  

	 	(i)	the first Interest Period for that overdue amount shall have a duration equal to the unexpired portion of the current Interest Period relating to that Loan; and

  

	 	(ii)	the rate of interest applying to the overdue amount during that first Interest Period shall be one per cent. higher than the rate which would have applied if the
overdue amount had not become due. 

  

	 	(c)	Default interest (if unpaid) arising on an overdue amount will be compounded with the overdue amount at the end of each Interest Period applicable to that overdue
amount but will remain immediately due and payable. 

  
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	17.4	Notification of rates of interest 

 The Agent shall promptly notify the Lenders and the relevant Borrower of the determination of a rate of interest under this Agreement. 

 

	18.	INTEREST PERIODS 

  

	18.1	Selection of Interest Periods 

  

	 	(a)	A Borrower (or the Company on behalf of a Borrower) may select an Interest Period for a Loan in the Utilisation Request for that Loan. 

 

	 	(b)	Subject to this Clause 18, a Borrower (or the Company on behalf of a Borrower) may select an Interest Period of one, three, six or twelve Months or any other period
agreed between a Borrower (or the Company on its behalf) and the Agent (acting on the instructions of all the Lenders in relation to the relevant Loan). 

  

	 	(c)	An Interest Period for a Loan shall not extend beyond the Termination Date. 

 

	 	(d)	Each Interest Period for a Loan shall start on the Utilisation Date. 

  

	 	(e)	A Loan has one Interest Period only. 

  

	18.2	Non-Business Days 

 If an
Interest Period would otherwise end on a day which is not a Business Day, that Interest Period will instead end on the next Business Day in that calendar month (if there is one) or the preceding Business Day (if there is not). 

 

	19.	CHANGES TO THE CALCULATION OF INTEREST 

  

	19.1	Absence of quotations 

Subject to Clause 19.2 (Market disruption), if LIBOR or, if applicable, EURIBOR, HIBOR or SIBOR is to be determined by reference to
the Reference Banks but a Reference Bank does not supply a quotation by the Specified Time on the Quotation Day, the applicable LIBOR or EURIBOR, HIBOR or SIBOR shall be determined on the basis of the quotations of the remaining Reference Banks.

  

	19.2	Market disruption 

  

	 	(a)	If a Market Disruption Event occurs in relation to a Loan for any Interest Period, then the rate of interest on each Lender’s share of that Loan for the Interest
Period shall be the percentage rate per annum which is the sum of: 

  

	 	(i)	the Applicable Margin; 

  

	 	(ii)	the rate notified to the Agent by that Lender as soon as practicable and in any event before interest is due to be paid in respect of that Interest Period, to be that
which expresses as a percentage rate per annum the cost to that Lender of funding its participation in that Loan from whatever source it may reasonably select; and 

  
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	 	(iii)	the Mandatory Cost, if any, applicable to that Lender’s participation in the Loan. 

 

	 	(b)	In this Agreement “Market Disruption Event” means: 

  

	 	(i)	at or about noon on the Quotation Day for the relevant Interest Period the Screen Rate is not available and none or only one of the Reference Banks supplies a rate to
the Agent to determine LIBOR or, if applicable, EURIBOR, HIBOR or SIBOR for the relevant currency and the relevant Interest Period; or 

  

	 	(ii)	before close of business in London on the Quotation Day for the relevant Interest Period, the Agent receives notifications from a Lender or Lenders (whose
participations in a Loan exceed 50 per cent. of that Loan) that the cost to it of obtaining matching deposits in the Relevant Interbank Market would be in excess of LIBOR or, if applicable, EURIBOR, HIBOR or SIBOR. 

 

	19.3	Alternative basis of interest or funding 

  

	 	(a)	If a Market Disruption Event occurs and the Agent or the Company so requires, the Agent and the Company shall enter into negotiations (for a period of not more than 30
days) with a view to agreeing a substitute basis for determining the rate of interest. 

  

	 	(b)	Any alternative basis agreed pursuant to paragraph (a) above shall, with the prior consent of all the Lenders and the Company, be binding on all Parties.

  

	19.4	Break Costs 

  

	 	(a)	Each Borrower shall, within five Business Days of demand by a Finance Party, pay to that Finance Party its Break Costs attributable to all or any part of a Loan or
Unpaid Sum being paid by that Borrower on a day other than the last day of an Interest Period for that Loan or Unpaid Sum. 

  

	 	(b)	Each Lender shall provide to the Agent for the Company a certificate confirming the details and amount of any Break Costs claimed by it under this Clause 19.4 for any
Interest Period in which they accrue. 

  

	20.	FEES 

  

	20.1	Commitment fee 

  

	 	(a)	 The Company shall pay to the Agent (for the account of each Lender) a fee in the Base Currency computed at the rate of 35 per cent. per annum of
the Applicable Margin on that Lender’s Available Commitment from the date of this Agreement until the last day of the Availability Period. For the purposes of commitment fee only, (i) the Available Commitment of each Lender (other than a
Lender that is an Affiliate of a Swingline Lender) shall be increased by 

  
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the amount of its deemed participation in any Swingline Loan that is not funded and has not been requested to be funded and (ii) the Available Commitment of a Lender that is an Affiliate of
a Swingline Lender shall be decreased by the amount of any Swingline Loan funded by it. 

  

	 	(b)	The accrued commitment fee is payable (i) on the last day of each successive period of three Months which ends during the period beginning on the date of this
Agreement and ending on the last day of the Availability Period, (ii) on the last day of the Availability Period and, (iii) if cancelled in full, on the cancelled amount of the relevant Lender’s Commitment at the time the cancellation
is effective. 

  

	20.2	Utilisation fees 

  

	 	(a)	The Company shall pay to the Agent (subject to paragraph (e) of Clause 10.4 (Interest) and paragraph (d) of Clause 13.4 (Interest), for the
account of each Lender) a utilisation fee in US dollars computed at a rate of: 

  

	 	(i)	0.15 per cent. per annum on the aggregate Base Currency Amount of the Utilisations hereunder for each day on which such amount is greater than 33.33 per cent.
but less than or equal to 66.66 per cent. of the Total Commitments; and 

  

	 	(ii)	0.30 per cent. per annum on the aggregate Base Currency Amount of the Utilisations for each day on which such amount is greater than 66.66 per cent. of the
Total Commitments. 

  

	 	(b)	The accrued utilisation fee is payable on the last day of each successive period of three Months commencing on the date falling three Months after the date of this
Agreement. 

  

	20.3	Arrangement fee 

 The
Company shall pay to the Arranger an arrangement fee in the amount and at the times agreed in a Fee Letter. 
  

	20.4	Agency fee 

 The Company
shall pay to the Agent (for its own account) an agency fee in the amount and at the times agreed in a Fee Letter. 
  

	20.5	Coordination fee 

 The
Company shall pay to the Coordinator a coordination fee in the amount and at the times agreed in a Fee Letter. 
  

	20.6	Participation fee 

 The
Company shall pay to the Agent (for the account of each Lender) a participation fee in the amount and at the times agreed in a Fee Letter. 

  
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 SECTION 6 
 ADDITIONAL PAYMENT OBLIGATIONS 
  

	21.	TAX GROSS UP AND INDEMNITIES 

  

	21.1	Definitions 

  

	 	(a)	In this Agreement: 

“Belgian Qualifying Lender” means a Lender which is: 

 

	 	(i)	a “professional investor” (investisseur professionel/beroepsbelegger), as defined under Article 105, 3° of the Belgian Royal Decree of
implementation of the Income Tax Code 1992 (“RD ITC 1992”); or 

  

	 	(ii)	not regarded as resident of Belgium for Belgium tax purposes and does not use its participation in any Utilisation to carry out a business in Belgium; or

  

	 	(iii)	a credit institution acting through an establishment located in a member state of the European Economic Area, or in a jurisdiction with which Belgium has a double
taxation agreement, which is registered and duly allowed by the local competent supervisory authority to perform credit activities within the meaning of article 4, (1), a) of the 2006/48/EC Directive of 14 June 2006 relating to the taking up
and pursuit of the business of credit institutions. 

 “Protected Party” means a Finance Party
which is or will be subject to any liability, or required to make any payment, for or on account of Tax in relation to a sum received or receivable (or any sum deemed for the purposes of Tax to be received or receivable) under a Finance Document.

 “Tax Credit” means a credit against, relief or remission for, or repayment of any Tax. 

“Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under a Finance Document.

 “Tax Payment” means either the increase in a payment made by an Obligor to a Finance Party under Clause 21.2
(Tax gross-up) or a payment under Clause 21.3 (Tax indemnity). 
  

	 	(b)	Unless a contrary indication appears, in this Clause 21 a reference to “determines” or “determined” means a determination made in the absolute
discretion of the person making the determination. 

  

	21.2	Tax gross-up 

  

	 	(a)	Each Obligor shall make all payments to be made by it without any Tax Deduction, unless a Tax Deduction is required by law. 

  
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	 	(b)	The Company shall promptly upon becoming aware that an Obligor must make a Tax Deduction (or that there is any change in the rate or the basis of a Tax Deduction)
notify the Agent accordingly. Similarly, a Lender shall notify the Agent on becoming so aware in respect of a payment payable to that Lender. If the Agent receives such notification from a Lender it shall promptly notify the Company and that
Obligor. 

  

	 	(c)	If a Tax Deduction is required by law to be made by an Obligor, the amount of the payment due from that Obligor shall be increased to an amount which (after making any
Tax Deduction) leaves an amount equal to the payment which would have been due if no Tax Deduction had been required. 

  

	 	(d)	A payment shall not be increased under paragraph (c) above by reason of a Tax Deduction if: 

 

	 	(i)	with respect to payments made by or on behalf of a U.S. Borrower, to the extent that such Tax Deduction is required as a result of such Lender’s failure to comply
with its obligation under Clause 21.6(a) (Filings); 

  

	 	(ii)	with respect to any other payments to the extent that such Tax Deduction is required as a result of such Lender’s failure to comply with its obligations under
Clause 21.6(b) (Filings); or 

  

	 	(iii)	on the date on which the payment falls due, if the payment could have been made to the relevant Lender without a Tax Deduction if the Lender had been a Belgian
Qualifying Lender but on that date that Lender is not or has ceased to be a Belgian Qualifying Lender, other than as a result of any change after the date it became a Lender under this Agreement in (or in the interpretation, administration or
application of) any law or double taxation agreement. 

  

	 	(e)	If an Obligor is required to make a Tax Deduction, that Obligor shall make that Tax Deduction and any payment required in connection with that Tax Deduction within the
time allowed and in the minimum amount required by law. 

  

	 	(f)	Within 30 days of making either a Tax Deduction or any payment required in connection with that Tax Deduction, the Obligor making that Tax Deduction shall deliver to
the Agent for the Finance Party entitled to the payment evidence reasonably satisfactory to that Finance Party that the Tax Deduction has been made or (as applicable) any appropriate payment paid to the relevant taxing authority.

  

	21.3	Tax indemnity 

  

	 	(a)	The Company shall (within three Business Days of demand by the Agent) pay to a Protected Party an amount equal to the loss, liability or cost which that Protected Party
determines will be or has been (directly or indirectly) suffered for or on account of Tax by that Protected Party in respect of a Finance Document or the transaction occurring under such Finance Document. 

  
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	 	(b)	Paragraph (a) above shall not apply: 

  

	 	(i)	with respect to any Tax assessed on a Finance Party: 

  

	 	(A)	under the law of the jurisdiction in which that Finance Party is incorporated or, if different, the jurisdiction (or jurisdictions) in which that Finance Party is
treated as resident for tax purposes; or 

  

	 	(B)	under the law of the jurisdiction in which that Finance Party’s Facility Office is located in respect of amounts received or receivable in that jurisdiction,

 if that Tax is imposed on or calculated by reference to the net income received or receivable (but not any sum
deemed to be received or receivable) by that Finance Party; or 
  

	 	(ii)	to the extent a loss, liability or cost: 

  

	 	(A)	is compensated for by an increased payment under Clause 21.2 (Tax gross-up); or 

 

	 	(B)	is attributable to the UK Bank Levy but only in respect of amounts for which a Lender is liable as at the date of this Agreement; or 

 

	 	(C)	would have been compensated for by an increased payment under Clause 21.2 (Tax gross-up) but was not so compensated solely because one of the exclusions in
paragraph (d) of Clause 21.2 (Tax gross-up) applied. 

  

	 	(c)	A Protected Party making, or intending to make a claim under paragraph (a) above shall promptly notify the Agent of the event which will give, or has given, rise
to the claim, following which the Agent shall notify the Company. 

  

	 	(d)	A Protected Party shall, on receiving a payment from an Obligor under this Clause 21.3, notify the Agent. 

 

	21.4	Tax Credit 

 If an Obligor
makes a Tax Payment and the relevant Finance Party determines that: 
  

	 	(a)	a Tax Credit is attributable either to an increased payment of which that Tax Payment forms part, or to that Tax Payment; and 

 

	 	(b)	that Finance Party has obtained, utilised and retained that Tax Credit, 

 the Finance Party shall pay an amount to the Obligor which that Finance Party reasonably determines will leave it (after that payment) in the same after-Tax position as it would have been in had the Tax
Payment not been required to be made by the Obligor. 

  
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	21.5	Stamp taxes 

 The Company
shall pay and, within three Business Days of demand, indemnify each Finance Party against any cost, loss or liability that Finance Party incurs in relation to all stamp duty, registration, excise and other similar Taxes payable in respect of any
Finance Document or the transactions occurring under any of them (excluding, for the avoidance of doubt, any such Tax arising in connection with an assignment or transfer by that Lender of its rights or obligations under any Finance Document).

  

	21.6	Filings 

  

	 	(a)	Prior to becoming a Party to this Agreement, each Lender will provide the Agent with, as relevant, an original executed: 

 

	 	(i)	IRS Form W-9 (or any successor form); 

  

	 	(ii)	IRS Form W-8ECI (or any successor form); 

  

	 	(iii)	IRS Form W-8BEN (or any successor form) establishing a complete exemption under an applicable treaty from U.S. withholding Taxes on all payments made pursuant to this
Agreement; 

  

	 	(iv)	IRS Form W-8BEN (or any successor form) (along with a statement certifying that such Lender is not: 

 

	 	(A)	a “bank” within the meaning of Section 881(c)(3)(A) of the Code; 

 

	 	(B)	a “10 percent shareholder” of a Borrower within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code; or 

 

	 	(C)	a “controlled foreign corporation” that is related to a Borrower within the meaning of Section 881(c)(3)(C) of the Code; or 

 

	 	(v)	such other IRS forms or certifications that establish that the Lender is entitled to a complete exemption from U.S. withholding Taxes on all payments made pursuant to
this Agreement. 

  

	 	(b)	A Belgian Qualifying Lender and each Obligor which makes a payment to which that Belgian Qualifying Lender is entitled shall co-operate in completing any procedural
formalities necessary for that Obligor to obtain authorisation to make that payment with the minimum possible Tax Deduction. 

  

	21.7	VAT 

  

	 	(a)	 All amounts set out, or expressed in a Finance Document to be payable by any Party to a Finance Party which (in whole or in part) constitute the
consideration for a supply or supplies for VAT purposes shall be deemed to be exclusive of any VAT which is chargeable on such supply or supplies, and accordingly, subject to paragraph (b) below, if VAT is or becomes chargeable on any supply
made by any Finance Party to any Party under a Finance 

  
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Document, that Party shall pay to the Finance Party (in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of such VAT (and such
Finance Party shall promptly provide an appropriate VAT invoice to such Party). 

  

	 	(b)	If VAT is or becomes chargeable on any supply made by any Finance Party (the “Supplier”) to any other Finance Party (the “Recipient”)
under a Finance Document, and any Party other than the Recipient (the “Subject Party”) is required by the terms of any Finance Document to pay an amount equal to the consideration for such supply to the Supplier (rather than being
required to reimburse the Recipient in respect of that consideration), such Party shall also pay to the Supplier (in addition to and at the same time as paying such amount) an amount equal to the amount of such VAT. The Recipient will promptly pay
to the Subject Party an amount equal to any credit or repayment obtained by the Recipient from the relevant tax authority which the Recipient reasonably determines is in respect of such VAT. 

 

	 	(c)	Where a Finance Document requires any Party to reimburse or indemnify a Finance Party for any cost or expense, that Party shall reimburse or indemnify (as the case may
be) such Finance Party for the full amount of such cost or expense, including such part thereof as represents VAT, save to the extent that such Finance Party reasonably determines that it is entitled to credit or repayment in respect of such VAT
from the relevant tax authority. 

  

	 	(d)	Any reference in this Clause 21.7 to any Party shall, at any time when such Party is treated as a member of a group for VAT purposes, include (where appropriate and
unless the context otherwise requires) a reference to the representative member of such group at such time (the term “representative member” to have the same meaning as in the Value Added Tax Act 1994). 

 

	21.8	Survival of obligations 

Without prejudice to the survival of any other section of this Agreement, the agreements and obligations of each Obligor and each Finance
Party contained in this Clause 18 shall survive the payment in full by the Obligors of all obligations under this Agreement and the termination of this Agreement. 
  

	22.	INCREASED COSTS 

  

	22.1	Increased costs 

  

	 	(a)	Subject to Clause 22.3 (Exceptions) the Company shall, within five Business Days of a demand by the Agent, pay for the account of a Finance Party the amount of
any Increased Costs incurred by that Finance Party or any of its Affiliates as a result of: 

  

	 	(i)	the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation after the date of this Agreement;

  
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	 	(ii)	compliance with any law or regulation made after the date of this Agreement; or 

 

	 	(iii)	the implementation or application of, or compliance with, Basel III or any law or regulation that implements or applies Basel III. 

 

	 	(b)	In this Agreement: 

  

	 	(i)	“Increased Costs” means: 

  

	 	(A)	a reduction in the rate of return from the Facility or on a Finance Party’s (or its Affiliate’s) overall capital; 

 

	 	(B)	an additional or increased cost; or 

  

	 	(C)	a reduction of any amount due and payable under any Finance Document, 

 which is incurred or suffered by a Finance Party or any of its Affiliates to the extent that it is attributable to that Finance Party having entered into its Commitment or funding or performing its
obligations under any Finance Document or Letter of Credit; and 
  

	 	(ii)	“Basel III” means the agreements on capital requirements, a leverage ratio and liquidity standards contained in “Basel III: A global regulatory
framework for more resilient banks and banking systems”, “Basel III: International framework for liquidity risk measurement, standards and monitoring” and “Guidance for national authorities operating the countercyclical capital
buffer” published by the Basel Committee on Banking Supervision on 16 December 2010, each as amended, supplemented or restated. 

  

	22.2	Increased cost claims 

  

	 	(a)	A Finance Party intending to make a claim pursuant to Clause 22.1 (Increased costs) shall notify the Agent of the event giving rise to the claim, following which
the Agent shall promptly notify the Company. 

  

	 	(b)	Each Finance Party shall, as soon as practicable after a demand by the Agent, provide a certificate confirming the amount of its Increased Costs.

  

	22.3	Exceptions 

  

	 	(a)	Clause 22.1 (Increased costs) does not apply to the extent any Increased Cost is: 

 

	 	(i)	attributable to a Tax Deduction required by law to be made by an Obligor; 

  

	 	(ii)	compensated for by Clause 21.3 (Tax indemnity) (or would have been compensated for under Clause 21.3 (Tax indemnity) but was not so compensated solely
because any of the exclusions in paragraph (b) of Clause 21.3 (Tax indemnity) applied); 

  
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	 	(iii)	compensated for by the payment of the Mandatory Cost; 

  

	 	(iv)	attributable to the wilful breach by the relevant Finance Party or its Affiliates of any law or regulation; or 

 

	 	(v)	attributable to the implementation or application of or compliance with the “International Convergence of Capital Measurement and Capital Standards, a Revised
Framework” published by the Basel Committee on Banking Supervision in June 2004 in the form existing on the date of this Agreement (but excluding any amendment arising out of Basel III) (“Basel II”) or any other law or
regulation which implements Basel II (whether such implementation, application or compliance is by a government, regulator, Finance Party or any of its Affiliates). 

 

	 	(b)	In this Clause 22.3, a reference to a “Tax Deduction” has the same meaning given to the term in Clause 21.1 (Definitions).

  

	23.	OTHER INDEMNITIES 

  

	23.1	Currency indemnity 

  

	 	(a)	If any sum due from an Obligor under the Finance Documents (a “Sum”), or any order, judgment or award given or made in relation to a Sum, has to be
converted from the currency (the “First Currency”) in which that Sum is payable into another currency (the “Second Currency”) for the purpose of: 

 

	 	(i)	making or filing a claim or proof against that Obligor; 

  

	 	(ii)	obtaining or enforcing an order, judgment or award in relation to any litigation or arbitration proceedings, 

that Obligor shall as an independent obligation, within three Business Days of demand, indemnify each Finance Party to whom that Sum is
due against any cost, loss or liability arising out of or as a result of the conversion including any discrepancy between (A) the rate of exchange used to convert that Sum from the First Currency into the Second Currency and (B) the rate
or rates of exchange available to that person at the time of its receipt of that Sum. 
  

	 	(b)	Unless otherwise required by law, each Obligor waives any right it may have in any jurisdiction to pay any amount under the Finance Documents in a currency or currency
unit other than that in which it is expressed to be payable. 

  
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	23.2	Other indemnities 

 The
Company shall (or shall procure that an Obligor will), within three Business Days of demand, indemnify each Finance Party against any cost, loss or liability incurred by that Finance Party as a result of: 

 

	 	(a)	the occurrence of any Event of Default; 

  

	 	(b)	a failure by an Obligor to pay any amount due under a Finance Document on its due date, including without limitation, any cost, loss or liability arising as a result of
Clause 36 (Sharing among the Finance Parties); 

  

	 	(c)	funding, or making arrangements to fund, its participation in a Utilisation requested by a Borrower in a Utilisation Request but not made by reason of the operation of
any one or more of the provisions of this Agreement (other than by reason of default or negligence by that Finance Party alone); or 

  

	 	(d)	a Utilisation (or part of a Utilisation) not being prepaid in accordance with a notice of prepayment given by a Borrower or the Company. 

 

	23.3	Indemnity to the Agent 

The Company shall promptly indemnify the Agent against any cost, loss or liability in an amount certified by it in reasonable detail
incurred by the Agent (acting reasonably) as a result of: 
  

	 	(a)	investigating any event which it reasonably believes is a Default; or 

  

	 	(b)	acting or relying on any notice, request or instruction which it reasonably believes to be genuine, correct and appropriately authorised. 

 

	24.	MITIGATION BY THE LENDERS 

  

	24.1	Mitigation 

  

	 	(a)	Each Finance Party shall, in consultation with the Company, take all reasonable steps to mitigate any circumstances which arise and which would result in any amount
becoming payable under or pursuant to, or cancelled pursuant to, any of Clause 16.1 (Illegality), Clause 21 (Tax Gross Up and Indemnities), Clause 22 (Increased costs) or paragraph 3 of Schedule 4 (Mandatory Cost formula)
including (but not limited to) transferring its rights and obligations under the Finance Documents to another Affiliate, Facility Office or Designated Entity. 

 

	 	(b)	Paragraph (a) above does not in any way limit the obligations of any Obligor under the Finance Documents. 

 

	24.2	Limitation of liability 

  

	 	(a)	The Company shall promptly indemnify each Finance Party for all costs and expenses reasonably incurred by that Finance Party in an amount certified by it in reasonable
detail as a result of steps taken by it under Clause 24.1 (Mitigation). 

  
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	 	(b)	A Finance Party is not obliged to take any steps under Clause 24.1 (Mitigation) if, in the opinion of that Finance Party (acting reasonably), to do so might be
prejudicial to it. 

  

	25.	COSTS AND EXPENSES 

  

	25.1	Transaction expenses 

 The
Company shall promptly on demand pay the Agent and the Coordinator the amount of all costs and expenses (including legal fees) reasonably incurred by either of them in an amount certified by it in reasonable detail in connection with the
negotiation, preparation, printing, execution and syndication of: 
  

	 	(a)	this Agreement and any other documents referred to in this Agreement; and 

  

	 	(b)	any other Finance Documents executed after the date of this Agreement, 

 subject to a cap of USD15,000 (excluding legal fees). 
  

	25.2	Amendment costs 

 If
(a) an Obligor requests an amendment, waiver or consent or (b) an amendment is required pursuant to Clause 37.9 (Change of currency), the Company shall, within three Business Days of demand, reimburse the Agent for the amount of all
costs and expenses (including legal fees) reasonably incurred by the Agent in an amount certified by it in reasonable detail in responding to, evaluating, negotiating or complying with that request or requirement. 

 

	25.3	Enforcement costs 

 The
Company shall, within three Business Days of demand, pay to each Finance Party the amount of all costs and expenses (including legal fees) incurred by it in an amount certified by it in reasonable detail in connection with the enforcement of, or the
preservation of any rights under, any Finance Document. 

  
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 SECTION 7 
 GUARANTEE 
  

	26.	GUARANTEE AND INDEMNITY 

  

	26.1	Guarantee and indemnity 

Each Guarantor irrevocably and unconditionally jointly and severally: 

 

	 	(a)	guarantees to each Finance Party punctual performance by each Borrower of all that Borrower’s obligations under the Finance Documents; 

 

	 	(b)	undertakes with each Finance Party that whenever a Borrower does not pay any amount when due under or in connection with any Finance Document, that Guarantor shall
immediately on demand pay that amount as if it was the principal obligor; and 

  

	 	(c)	agrees with each Finance Party that if any obligation guaranteed by it is or becomes unenforceable, invalid or illegal it will, as an independent and primary
obligation, indemnify that Finance Party immediately on demand against any cost, loss or liability it incurs as a result of a Borrower not paying any amount which would, but for such unenforceability, invalidity or illegality, have been payable by
it under any Finance Document on the date when it would have been due. The amount payable by a Guarantor under this indemnity will not exceed the amount it would have had to pay under this Clause 26 if the amount claimed had been recoverable on the
basis of a guarantee. 

  

	26.2	Continuing guarantee 

This guarantee is a continuing guarantee and will extend to the ultimate balance of sums payable by any Borrower under the Finance
Documents, regardless of any intermediate payment or discharge in whole or in part. 
  

	26.3	Reinstatement 

 If any
discharge, release or arrangement (whether in respect of the obligations of any Obligor or any security for those obligations or otherwise) is made by a Finance Party in whole or in part on the basis of any payment, security or other disposition
which is avoided or must be restored in insolvency, liquidation, administration or otherwise, without limitation, then the liability of each Guarantor under this Clause 26 will continue or be reinstated as if the discharge, release or arrangement
had not occurred. 
  

	26.4	Waiver of defences 

 The
obligations of each Guarantor under this Clause 26 will not be affected by any act, omission, matter or thing which, but for this Clause, would reduce, release or prejudice any of its obligations under this Clause 26 (without limitation and whether
or not known to it or any Finance Party) including: 
  

	 	(a)	any time, waiver or consent granted to, or composition with, any Obligor or other person; 

  
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	 	(b)	the release of any other Obligor or any other person under the terms of any composition or arrangement with any creditor of any member of the Group;

  

	 	(c)	the taking, variation, compromise, exchange, renewal or release of, or refusal or neglect to perfect, take up or enforce, any rights against, or security over assets
of, any Obligor or other person or any non-presentation or non-observance of any formality or other requirement in respect of any instrument or any failure to realise the full value of any security; 

 

	 	(d)	any incapacity or lack of power, authority or legal personality of or dissolution or change in the members or status of an Obligor or any other person;

  

	 	(e)	any amendment, novation, supplement, extension or restatement (however fundamental and whether or not more onerous) or replacement of a Finance Document or any other
document or security including without limitation any change in the purpose of, any extension of, or any increase in, any facility or the addition of any new facility under any Finance Document or other document; 

 

	 	(f)	any unenforceability, illegality or invalidity of any obligation of any person under any Finance Document or any other document or security; or

  

	 	(g)	any insolvency or similar proceedings. 

  

	26.5	Immediate recourse 

 Each
Guarantor waives any right it may have of first requiring any Finance Party (or any trustee or agent on its behalf) to proceed against or enforce any other rights or security or claim payment from any person before claiming from that Guarantor under
this Clause 26. This waiver applies irrespective of any law or any provision of a Finance Document to the contrary. 
  

	26.6	Appropriations 

 Until all
amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full, each Finance Party (or any trustee or agent on its behalf) may: 

 

	 	(a)	refrain from applying or enforcing any other moneys, security or rights held or received by that Finance Party (or any trustee or agent on its behalf) in respect of
those amounts, or apply and enforce the same in such manner and order as it sees fit (whether against those amounts or otherwise) and no Guarantor shall be entitled to the benefit of the same; and 

 

	 	(b)	hold in an interest-bearing suspense account any moneys received from any Guarantor or on account of any Guarantor’s liability under this Clause 26.

  

	26.7	Deferral of Guarantors’ rights 

 Until all amounts which may be or become payable by the Obligors under or in connection with the Finance Documents have been irrevocably paid in full and unless the Agent otherwise directs, no Guarantor
will exercise any rights which it may have by reason of performance by it of its obligations under the Finance Documents or by reason of any amount being payable, or liability arising, under this Clause 26: 

 

	 	(a)	to be indemnified by an Obligor; 

  
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	 	(b)	to claim any contribution from any other guarantor of any Obligor’s obligations under the Finance Documents; 

 

	 	(c)	to take the benefit (in whole or in part and whether by way of subrogation or otherwise) of any rights of the Finance Parties under the Finance Documents or of any
other guarantee or security taken pursuant to, or in connection with, the Finance Documents by any Finance Party; 

  

	 	(d)	to bring legal or other proceedings for an order requiring any Obligor to make any payment, or perform any obligation, in respect of which any Guarantor has given a
guarantee, undertaking or indemnity under Clause 26.1 (Guarantee and Indemnity); 

  

	 	(e)	to exercise any right of set-off against any Obligor; and/or 

  

	 	(f)	to claim or prove as a creditor of any Obligor in competition with any Finance Party. 

If a Guarantor receives any benefit, payment or distribution in relation to such rights it shall hold that benefit, payment or
distribution to the extent necessary to enable all amounts which may be or become payable to the Finance Parties by the Obligors under or in connection with the Finance Documents to be repaid in full on trust for the Finance Parties and shall
promptly pay or transfer the same to the Agent or as the Agent may direct for application in accordance with Clause 37 (Payment mechanics). 
  

	26.8	Release of Guarantors’ right of contribution 

 If any Guarantor (a “Retiring Guarantor”) ceases to be a Guarantor in accordance with the terms of the Finance Documents for the purpose of any sale or other disposal of that Retiring
Guarantor then on the date such Retiring Guarantor ceases to be a Guarantor: 
  

	 	(a)	that Retiring Guarantor is released by each other Guarantor from any liability (whether past, present or future and whether actual or contingent) to make a contribution
to any other Guarantor arising by reason of the performance by any other Guarantor of its obligations under the Finance Documents; and 

  

	 	(b)	each other Guarantor waives any rights it may have by reason of the performance of its obligations under the Finance Documents to take the benefit (in whole or in part
and whether by way of subrogation or otherwise) of any rights of the Finance Parties under any Finance Document or of any other security taken pursuant to, or in connection with, any Finance Document where such rights or security are granted by or
in relation to the assets of the Retiring Guarantor. 

  
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	26.9	Additional security 

 This
guarantee is in addition to and is not in any way prejudiced by any other guarantee or security now or subsequently held by any Finance Party. 
  

	26.10	Guarantee Limitation - Fraudulent Conveyance 

 Any term or provision of this Clause 26 or any other term in this Agreement or any Finance Document notwithstanding, the maximum aggregate amount of the obligations for which any Guarantor shall be liable
under this Agreement or any other Finance Document shall in no event exceed an amount equal to the largest amount that would not render such Guarantor’s obligations under this Agreement subject to avoidance under applicable United States
federal or state fraudulent transfer, fraudulent conveyance or similar laws. 
  

	26.11	Guarantee Limitation - Deemed Dividends 

 Any term or provision of this Clause 26 or any other term in this Agreement or any Finance Document notwithstanding: 
  

	 	(a)	no member of the Group will have any obligation or liability, directly or indirectly, as guarantor or otherwise under this Agreement or any Finance Document with
respect to any obligation or liability arising under any Finance Document of any U.S. Borrower (the “U.S. Obligations”); and 

  

	 	(b)	not more than 65% of the stock or other equity interests (measured by the total combined voting power of the issued and outstanding voting stock or other equity
interests) of, and none of the assets or property of, any member of the Group may be pledged directly or indirectly as security for any U.S. Obligations, 

 in each case to the extent such obligation, liability or pledge would cause or result in any “deemed dividend” to any U.S. Obligor pursuant to Section 956 of the Code; provided that
this Clause shall not limit or reduce any obligation or liability of any Borrower. 

  
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 SECTION 8 
 REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT 
  

	27.	REPRESENTATIONS 

 Each
Obligor makes the representations and warranties set out in this Clause 27 to each Finance Party on the date of this Agreement. 
  

	27.1	Status 

  

	 	(a)	It is a corporation, duly incorporated and validly existing under the law of its jurisdiction of incorporation. 

 

	 	(b)	It and each of its Subsidiaries has the power to own its assets and carry on its business as it is being conducted, except for defects in ownership, title or property
the absence of which individually or in aggregate would not reasonably be expected to have a Material Adverse Effect. 

  

	27.2	Binding obligations 

 The
obligations expressed to be assumed by it in each Finance Document are, subject to any general principles of law as at the date of this Agreement limiting its obligations, which are specifically referred to in any legal opinion delivered pursuant to
Clause 4 (Conditions of Utilisation) or Clause 33 (Changes to the Obligors), legal, valid, binding and enforceable obligations. 
  

	27.3	Non-conflict with other obligations 

 The entry into and performance by it of, and the transactions contemplated by, the Finance Documents do not and will not conflict with: 

 

	 	(a)	any law or regulation applicable to it; 

  

	 	(b)	its constitutional documents; or 

  

	 	(c)	any of its obligations under any agreement or instrument binding upon it or any of its assets, except for any conflicts which, individually or in aggregate, would not
reasonably be expected to have a Material Adverse Effect. 

  

	27.4	Power and authority 

 It
has the power to enter into, perform and deliver, and has taken all necessary action to authorise its entry into, performance and delivery of, the Finance Documents to which it is a party and the transactions contemplated by those Finance Documents.

  

	27.5	Validity and admissibility in evidence 

 All Authorisations required: 
  

	 	(a)	to enable it lawfully to enter into, exercise its rights and comply with its obligations in the Finance Documents to which it is a party; and 

  
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	 	(b)	to make the Finance Documents to which it is a party admissible in evidence in its jurisdiction of incorporation, 

have been obtained or effected and are in full force and effect, except for those that may be required under paragraph (d)(iii) of Clause
1.2 (Construction). 
  

	27.6	Governing law and enforcement 

  

	 	(a)	The choice of English law as the governing law of the Finance Documents will be recognised and enforced in its jurisdiction of incorporation. 

 

	 	(b)	Any judgment obtained in England in relation to a Finance Document will be recognised and enforced in its jurisdiction of incorporation. 

 

	27.7	No filing or stamp taxes 

Under the law of its jurisdiction of incorporation it is not necessary that the Finance Documents be filed, recorded or enrolled with any
court or other authority in that jurisdiction (other than as may be required under sub-paragraph (d)(iii) of Clause 1.2 (Construction)) or that any stamp, registration or similar tax be paid on or in relation to the Finance Documents (other
than in relation to any transfer of any Lender’s rights or obligations thereunder) or the transactions contemplated by the Finance Documents, save for a Belgian documentary duty of EUR 0.15 to be paid in respect of each original copy of this
Agreement if executed in Belgium and for Belgian documentary and registration duties in respect of any Belgian security document. 
  

	27.8	No default 

  

	 	(a)	No Event of Default is continuing or might reasonably be expected to result from the making of any Utilisation. 

 

	 	(b)	No other event or circumstance is outstanding which constitutes a default under any other agreement or instrument which is binding on it or any of its Subsidiaries or
to which its (or any of its Subsidiaries’) assets are subject which might have a Material Adverse Effect. 

  

	27.9	No misleading information 

  

	 	(a)	Any factual information provided by it for the purposes of the Debtdomain Information was true and accurate in all material respects as at the date it was provided or
as at the date (if any) at which it is stated. 

  

	 	(b)	Nothing has occurred or been omitted from the Debtdomain Information and no information has been given or withheld that results in the information contained in the
Debtdomain Information being untrue or misleading in any material respect. 

  

	 	(c)	All written information (other than the Debtdomain Information) supplied by it is true, complete and accurate in all material respects as at the date it was given and
is not misleading in any material respect. 

  
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	27.10	Financial statements 

  

	 	(a)	In the case of the Company, its audited financial statements most recently delivered to the Agent under Clause 28.1(a) (Financial statements) were prepared in
accordance with US GAAP consistently applied. 

  

	 	(b)	In the case of each Obligor other than the Company, its audited financial statements most recently delivered to the Agent under Clause 28.1(c) (Financial
Statements) were prepared in accordance with applicable GAAP consistently applied. 

  

	 	(c)	Its audited financial statements most recently delivered to the Agent under Clause 28.1(a) (Financial statements) fairly represent its financial condition and
operations during the relevant financial year period as at the date to which they were drawn up. 

  

	27.11	Pari passu ranking 

 Its
payment obligations under the Finance Documents rank at least pari passu with the claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally. 

 

	27.12	No proceedings pending or threatened 

 No litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency which, if adversely determined, might reasonably be expected to have a Material Adverse Effect has
(to the best of its knowledge and belief) been started or threatened against it or any of its Subsidiaries (or against its directors or the directors of any of its Subsidiaries) other than as disclosed on Form 10-K, Form 10-Q or Form 8-K.

  

	27.13	Environmental compliance 

Each of it and its Subsidiaries has performed and observed in all material respects all Environmental Law, Environmental Permits and all
other material covenants, conditions, restrictions or agreements directly or indirectly concerned with any contamination, pollution or waste or the release or discharge of any toxic or hazardous substance in connection with any real property which
is or was at any time owned, leased or occupied by it or any of its Subsidiaries or on which it or any of its Subsidiaries has conducted any activity where failure to do so might reasonably be expected to have a Material Adverse Effect. 

 

	27.14	Environmental Claims 

 No
Environmental Claim (other than as disclosed on Form 10-K, Form 10-Q or Form 8-K) has been commenced or (to the best of its knowledge and belief) is threatened against it or any of its Subsidiaries where that claim would be reasonably likely to have
a Material Adverse Effect. 

  
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	27.15	Material Adverse Effect 

No event or series of events (other than as disclosed on Form 10-K, Form 10-Q or Form 8-K) has occurred in relation to itself and its
Subsidiaries and no circumstance has arisen in relation to itself and its Subsidiaries which has had a Material Adverse Effect since the date of its Original Financial Statements. 

 

	27.16	Financial Indebtedness and Security 

 Save as disclosed to the Lenders prior to the date of this Agreement, no Security or Quasi-Security exists over all or any of its present or future assets or the present or future assets of any of its
Subsidiaries other than as permitted by this Agreement, and neither it nor any of its Subsidiaries has any Indebtedness outstanding other than as permitted by this Agreement. 

 

	27.17	ERISA and Multiemployer Plans 

  

	 	(a)	No ERISA Event has occurred, is continuing, or is reasonably likely to occur with respect to which it or any ERISA Affiliate has or is reasonably likely to incur any
liability. 

  

	 	(b)	Each Employee Plan is in compliance in form and operation with ERISA and the Code and all other applicable laws and regulations save where any failure to comply would
not reasonably be expected to have a Material Adverse Effect. 

  

	 	(c)	Each Employee Plan which is intended to be qualified under Section 401(a) of the Code has been determined by the IRS to be so qualified or is in the process of
being submitted to the IRS for approval or will be so submitted during the applicable remedial amendment period, and, nothing has occurred since the date of such determination that would adversely affect such determination (or, in the case of an
Employee Plan with no determination, nothing has occurred that would materially adversely affect such qualification). 

  

	 	(d)	There exists no Unfunded Pension Liability with respect to any Employee Plan, except as would not have a Material Adverse Effect. 

 

	 	(e)	Neither it nor any ERISA Affiliate has incurred a complete or partial withdrawal from any Multiemployer Plan, and if each of the Obligors and each ERISA Affiliate were
to withdraw in a complete withdrawal as of the date hereof, the aggregate withdrawal liability that would be incurred would not reasonably be expected to have a Material Adverse Effect. 

 

	 	(f)	There are no actions, suits or claims pending against or involving an Employee Plan (other than routine claims for benefits) or, to the knowledge of it or any ERISA
Affiliate, threatened, which would reasonably be expected to be asserted successfully against any Employee Plan and, if so asserted successfully, would reasonably be expected either singly or in the aggregate to have a Material Adverse Effect.

  

	 	(g)	 It and each ERISA Affiliate has made all material contributions to or under each such Employee Plan it is required by law to make within the applicable

  
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time limits prescribed thereby, the terms of such Employee Plan, or any contract or agreement requiring contributions to an Employee Plan, except where any failure to comply would not reasonably
be expected to have a Material Adverse Effect. 

  

	 	(h)	Neither it nor any ERISA Affiliate has ceased operations at a facility so as to become subject to the provisions of Section 4068(a) of ERISA, withdrawn as a
substantial employer so as to become subject to the provisions of Section 4063 of ERISA or ceased making contributions to any Employee Plan subject to Section 4064(a) of ERISA to which it made contributions. 

 

	 	(i)	To the knowledge of it and each ERISA Affiliate, no Multiemployer Plan is or is reasonably likely to become insolvent or is in reorganization for purposes of Title IV
of ERISA, except where any such insolvency or reorganization would not reasonably be expected to have a Material Adverse Effect. 

  

	27.18	Federal Reserve Regulations 

  

	 	(a)	It is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying Margin Stock or extending credit for
the purpose of purchasing or carrying Margin Stock. 

  

	 	(b)	None of the proceeds of the Loans or other extensions of credit under this Agreement will be used, directly or indirectly, for any purpose which entails a violation of
Regulations T, U and X of the Board of Governors of the Federal Reserve System of the United States of America, and the Company represents that not more than 25% of the value of the assets of the Company and the Subsidiaries consists of Margin
Stock. 

  

	27.19	Investment Companies 

Neither it, nor a person controlling it or any of its Subsidiaries is or is required to be registered as an “investment company”
under the U.S. Investment Company Act of 1940 (the “1940 Act”). 
  

	27.20	No Belgian financial assistance 

 The proceeds of the Facilities have not been and will not be used to finance or refinance the acquisition of or subscription for shares in any Belgian Obligor (save as authorised by Article 329 of the
Belgian company law and for share buy-backs carried out in accordance with Belgian company law). 
  

	27.21	No cluster bombs or anti-personnel mines 

 Neither it nor any of its Subsidiaries carries out activities related to the manufacturing, use, repair, exhibition for sale, sale, import, export, stockpiling or transport of cluster bombs,
sub-munitions, inert munitions or armour plating containing depleted or industrial uranium, or anti-personnel mines. 

  
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	27.22	No listed securities 

 In
the case of a Belgian Obligor only, it has not issued listed securities, nor is it a Subsidiary of a Belgian company that has issued listed securities. 
  

	27.23	Deduction of Tax 

  

	 	(a)	In the case of a U.S. Obligor, it is not required to make any deduction for or on account of Tax from any payment it may make under any Finance Document to a Lender
which has complied with its obligations under Clause 21.6(a) (Filings). 

  

	 	(b)	In the case of an Obligor incorporated in Hong Kong, it is not required to make any deduction for or on account of Tax from any payment it may make under any Finance
Document. 

  

	 	(c)	In the case of a Belgian Obligor, it is not required to make any deduction for or on account of Tax from any payment it may make under any Finance Document to a Belgian
Qualifying Lender (assuming that any procedural formalities falling within Clause 21.6(b) (Filings) have been completed). 

  

	27.24	Repetition 

 The Repeating
Representations are deemed to be made by each Obligor (by reference to the facts and circumstances then existing) on: 
  

	 	(a)	the date of each Utilisation Request and the first day of each Interest Period; and 

 

	 	(b)	in the case of an Additional Obligor, the day on which it becomes (or it is proposed that it becomes) an Additional Obligor. 

 

	28.	INFORMATION UNDERTAKINGS 

The undertakings in this Clause 28 remain in force from the date of this Agreement for so long as any amount is outstanding under the
Finance Documents or any Commitment is in force. 
  

	28.1	Financial statements 

 The
Company shall supply to the Agent in sufficient copies for all the Lenders: 
  

	 	(a)	as soon as the same become available, but in any event within 15 days of each date the Company is required to file a report on Form 10-K for any financial year with the
Securities and Exchange Commission, its audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such financial year; 

 

	 	(b)	as soon as the same become available, but in any event within 180 days of the end of each financial year, the audited financial statements of each Obligor as of the end
of and for such financial year; and 

  
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	 	(c)	as soon as the same become available, but in any event within 15 days of each date the Company is required to file a report on Form 10-Q for any quarter of its
financial year with the Securities and Exchange Commission, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such quarter and the then elapsed portion of the
financial year. 

  

	28.2	Compliance Certificate 

  

	 	(a)	The Company shall supply to the Agent, with each set of financial statements delivered pursuant to paragraph (a) or (b) of Clause 28.1 (Financial
statements), a Compliance Certificate: 

  

	 	(i)	setting out (in reasonable detail) computations as to compliance with Clause 29 (Financial covenants) as at the date at which those financial statements were
drawn up; and 

  

	 	(ii)	certifying as to whether a Default has occurred since the date of the most recent certificate delivered under this Clause 28.2 and, if a Default has occurred,
specifying the details thereof and any action taken or proposed to be taken with respect thereto. 

  

	 	(b)	Each Compliance Certificate shall be signed by a Financial Officer of the Company and, if required to be delivered with the annual financial statements delivered
pursuant to paragraph (a) of Clause 28.1 (Financial statements), shall be certified by the Company’s auditors. 

  

	28.3	Requirements as to financial statements 

  

	 	(a)	Each set of financial statements delivered by the Company under Clause 28.1 (Financial Statements) shall be certified by a Financial Officer of the relevant
Obligor as giving (if audited) a true and fair view of, or (if unaudited) fairly representing, the financial condition (consolidated or otherwise) as at the date to which those financial statements were drawn up. 

 

	 	(b)	The Company must notify the Agent of any material change to the manner in which its financial statements are prepared (including any change in the accounting
principles, practices, policies or reference periods applicable to such financial statements). 

  

	 	(c)	If requested by the Agent, the Company must supply to the Agent: 

  

	 	(i)	a description of any change notified under sub-clause (b) above; and 

  

	 	(ii)	a reconciliation statement showing sufficient information: 

  

	 	(A)	to enable the Finance Parties to make a reasonable comparison between the financial position shown by the set of financial statements prepared on the changed basis and
its most recent such financial statements delivered to the Agent under this Agreement; and 

  
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	 	(B)	to test the financial covenants set out in Clause 29 (Financial covenants) and to test compliance with the relevant percentages set out in the Consolidated Total
Assets of the Company in Clause 30.3(c)(x) (Negative Pledge), and Clause 30.4(b)(vi) (Disposals) as if the new set of financial statements had been prepared on the same basis as that used in the Original Financial Statements.

  

	28.4	ERISA-Related Information 

The Company shall supply to the Agent (in sufficient copies for all the Lenders, if the Agent so requests): 

 

	 	(a)	promptly and in any event within 15 days after any Obligor or any ERISA Affiliate files a Schedule B (or such other schedule as contains actuarial information) to IRS
Form 5500 in respect of an Employee Plan with Unfunded Pension Liabilities, a copy of such IRS Form 5500 (including the Schedule B); 

  

	 	(b)	promptly and in any event within 15 days after any Obligor or any ERISA Affiliate knows or has reason to know that any ERISA Event which, individually or when
aggregated with any other ERISA Event, would reasonably be expected to have a Material Adverse Effect has occurred, the written statement of the Chief Financial Officer of such Obligor or ERISA Affiliate, as applicable, describing such ERISA Event
and the action, if any, which it proposes to take with respect to such ERISA Event and a copy of any notice filed with the PBGC or the IRS pertaining to such ERISA Event; provided that, in the case of ERISA Events under paragraph (e) of
the definition thereof, the 15-day period set forth above shall be a ten-day period, and, in the case of ERISA Events under paragraph (b) of the definition thereof, in no event shall notice be given later than the occurrence of the ERISA Event;

  

	 	(c)	promptly, and in any event within 15 days, after becoming aware that there has been (i) a material increase in Unfunded Pension Liabilities, taking into account
only Employee Plans with positive Unfunded Pension Liabilities; (ii) the existence of potential withdrawal liability under Section 4201 of ERISA, if each Obligor and its ERISA Affiliates were to completely or partially withdraw from all
Multiemployer Plans; (iii) the adoption of, or the commencement of contributions to, any Employee Plan subject to Section 412 of the Code by any Obligor or any ERISA Affiliate; or (iv) the adoption of any amendment to an Employee Plan
subject to Section 412 of the Code which results in a material increase in contribution obligations of any Obligor, a detailed written description thereof from the Chief Financial Officer of each affected Obligor or ERISA Affiliate, as
applicable; and 

  

	 	(d)	 copies of (i) any documents described in Section 101(k)(1) of ERISA that an Obligor or any ERISA Affiliate may request with respect to any
Multiemployer Plan and (ii) any notices described in Section 101(l)(1) of ERISA that an Obligor or any ERISA Affiliate may request with respect to any Multiemployer Plan; provided that, the Obligor or the applicable ERISA Affiliate
shall promptly make a request for such documents or notices from the administrator or sponsor of such Multiemployer Plan upon written request by 

  
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the Agent (on behalf of any Lender) and in any event at least annually not later than the anniversary date of the date hereof, and shall provide copies of such documents and notices promptly
after receipt thereof. 

  

	28.5	Information: miscellaneous 

The Company shall supply to the Agent (in sufficient copies for all the Lenders, if the Agent so requests): 

 

	 	(a)	all documents despatched by the Company to its shareholders (or any class of them) or its creditors generally at the same time as they are dispatched;

  

	 	(b)	promptly upon becoming aware of them, the details of any litigation, arbitration or administrative proceedings which are current, threatened or pending against any
member of the Group (or against the directors of any member of the Group) which if determined against such member of the Group (or against the directors of such member of the Group) would be likely to have a Material Adverse Effect; and

  

	 	(c)	promptly, such further information regarding the financial condition, business and operations of any member of the Group as any Finance Party (through the Agent) may
reasonably request. 

  

	28.6	Notification of default 

  

	 	(a)	Each Obligor shall notify the Agent of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence (unless that Obligor
is aware that a notification has already been provided by another Obligor). 

  

	 	(b)	Promptly upon a request by the Agent, the Company shall supply to the Agent a certificate signed by a Financial Officer on its behalf certifying that no Default is
continuing (or if a Default is continuing, specifying the Default and the steps, if any, being taken to remedy it). 

  

	28.7	Use of websites 

  

	 	(a)	The Company may satisfy its obligation under this Agreement to deliver any information in relation to those Lenders ( the “Website Lenders”) who accept
this method of communication by posting this information onto an electronic website designated by the Company and the Agent (the “Designated Website”) if: 

 

	 	(i)	the Agent expressly agrees (after consultation with each of the Lenders) that it will accept communication of the information by this method; 

 

	 	(ii)	both the Company and the Agent are aware of the address of and any relevant password specifications for the Designated Website; and 

 

	 	(iii)	the information is in a format previously agreed between the Company and the Agent. 

  
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 If any Lender (a “Paper Form Lender”) does not agree to the delivery of
information electronically then the Agent shall notify the Company accordingly and the Company shall supply the information to the Agent (in sufficient copies for each Paper Form Lender) in paper form. In any event the Company shall supply the Agent
with at least one copy in paper form of any information required to be provided by it. 
  

	 	(b)	The Agent shall supply each Website Lender with the address of and any relevant password specifications for the Designated Website following designation of that website
by the Company and the Agent. 

  

	 	(c)	The Company shall promptly upon becoming aware of its occurrence notify the Agent if: 

 

	 	(i)	the Designated Website cannot be accessed for a material period of time due to technical failure; 

 

	 	(ii)	the password specifications for the Designated Website change; 

  

	 	(iii)	any new information which is required to be provided under this Agreement is posted onto the Designated Website; 

 

	 	(iv)	any existing information which has been provided under this Agreement and posted onto the Designated Website is amended; or 

 

	 	(v)	the Company becomes aware that the Designated Website or any information posted onto the Designated Website is or has been infected by any electronic virus or similar
software. 

 If the Company notifies the Agent under paragraph (c)(i) or paragraph (c)(v) above, all information
to be provided by the Company under this Agreement after the date of that notice shall be supplied in paper form unless and until the Agent and each Website Lender is satisfied that the circumstances giving rise to the notification are no longer
continuing. 
  

	 	(d)	Any Website Lender may request, through the Agent, one paper copy of any information required to be provided under this Agreement which is posted onto the Designated
Website. The Company shall comply with any such request within ten Business Days. 

  

	28.8	“Know your customer” checks 

  

	 	(a)	If: 

  

	 	(i)	the introduction of or any change in (or in the interpretation, administration or application of) any law or regulation made after the date of this Agreement;

  

	 	(ii)	any change in the status of an Obligor; or 

  
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	 	(iii)	a proposed assignment or transfer by a Lender of any of its rights and obligations under this Agreement to a party that is not a Lender prior to such assignment or
transfer, 

 obliges the Agent or any Lender (or, in the case of paragraph (iii) above, any prospective new
Lender) to comply with “know your customer” or similar identification procedures in circumstances where the necessary information is not already available to it, each Obligor shall promptly upon the request of the Agent or any Lender
supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or, in the case of the event described in paragraph (iii) above,
on behalf of any prospective new Lender) in order for the Agent, such Lender or, in the case of the event described in paragraph (iii) above, any prospective new Lender to carry out and be satisfied it has complied with all necessary “know
your customer” or other similar checks under all applicable laws and regulations pursuant to the transactions contemplated in the Finance Documents. 
  

	 	(b)	Each Lender shall promptly upon the request of the Agent supply, or procure the supply of, such documentation and other evidence as is reasonably requested by the Agent
(for itself) in order for the Agent to carry out and be satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the transactions contemplated in the
Finance Documents. 

  

	 	(c)	The Company shall, by not less than ten Business Days’ prior written notice to the Agent, notify the Agent (which shall promptly notify the Lenders) of its
intention to request that one of its Subsidiaries becomes an Additional Obligor pursuant to Clause 33 (Changes to the Obligors). 

  

	 	(d)	Following the giving of any notice pursuant to paragraph (c) above, if the accession of such Additional Obligor obliges the Agent or any Lender to comply with
“know your customer” or similar identification procedures in circumstances where the necessary information is not already available to it, the Company shall promptly upon the request of the Agent or any Lender supply, or procure the supply
of, such documentation and other evidence as is reasonably requested by the Agent (for itself or on behalf of any Lender) or any Lender (for itself or on behalf of any prospective new Lender) in order for the Agent or such Lender or any prospective
new Lender to carry out and be satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations pursuant to the accession of such Subsidiary to this Agreement as an
Additional Obligor. 

  

	29.	FINANCIAL COVENANTS 

  

	29.1	Financial definitions 

 In
this Clause 29: 
 “Capital Lease” means, as applied to any person, any lease of any property (whether real,
personal or mixed) by that person as lessee which, in accordance with US GAAP, is or should be accounted for as a capital lease on the balance sheet of that person. 

  
 - 87 -

 “Capital Lease Obligations” means the obligations of a person to pay rent
or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as Capital Leases on a balance sheet of such
person under US GAAP applied on a consistent basis and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalised amount thereof at such time determined in accordance with US GAAP applied on a
consistent basis. 
 “Consolidated EBITDA” means, for any period, Consolidated Net Income for such period plus:

  

	 	(a)	without duplication and to the extent deducted in determining such Consolidated Net Income, the sum of: 

 

	 	(i)	Consolidated Net Interest Expense for such period; 

  

	 	(ii)	consolidated income tax expense for such period; 

  

	 	(iii)	all amounts attributable to depreciation and amortisation (including accelerated amortisation and amortisation of stock based compensation) for such period;

  

	 	(iv)	any extraordinary or non-recurring charges for such period related to plant closings or other restructurings of operations or to the write-down of assets;

  

	 	(v)	separation costs incurred in connection with the Spin-Off in an aggregate amount not to exceed USD75,000,000; 

 

	 	(vi)	fees and expenses incurred in connection with the negotiation and execution of the Finance Documents; and 

 

	 	(vii)	loss on sale of any plant and machinery, 

  

	 	(b)	and minus without duplication and to the extent not deducted in determining such Consolidated Net Income, extraordinary gains for such period, provided that for
any period including a fiscal quarter during which an acquisition or a divestiture was consummated outside of the ordinary course of business, Consolidated EBITDA and the components thereof shall be determined on a pro forma basis as if such
acquisition or divestiture, as the case may be, had occurred at the beginning of such period. 

“Consolidated Net Income” means, with respect to any person, for any period, the net income or loss of such person and
its consolidated Subsidiaries for such period. 
 “Consolidated Net Indebtedness” means, on any date,
(a) Consolidated Total Debt minus (b) the amount of Unrestricted Cash and Cash Equivalents. 

  
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 “Consolidated Net Interest Expense” means, with respect to any person, for
any period for which such amount is being determined, (a) total interest expense (including that properly attributable to Capital Leases and amortisation of debt discount and debt issuance costs) of such Person and its consolidated
Subsidiaries, including all capitalised interest, all commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financings and net costs under interest rate protection agreements (including
amortisation of discount) minus (b) total interest income of such person and its consolidated subsidiaries, and, to the extent Consolidated EBITDA for any period is determined on a pro forma basis to reflect an acquisition or divestiture
out of the ordinary course of business, Consolidated Net Interest Expense shall be calculated on a pro forma basis as if such acquisition or divestiture, as the case may be, had occurred at the beginning of such period. 

“Consolidated Total Debt” means, for any person, all Indebtedness of such person and its consolidated Subsidiaries.

 “Indebtedness” means, with respect to any person, without duplication: 

 

	 	(a)	all obligations of such person for money borrowed or raised (excluding all Securitisation Transactions that are accounted for as true sales of accounts receivable and
not as liabilities on the consolidated balance sheets of the Company, but including Securitisation Transactions accounted for as liabilities on the consolidated balance sheets of the Company); 

 

	 	(b)	all obligations of such person (other than accounts payable and other similar items arising in the ordinary course of business) for the deferred payment of the purchase
price of property or services which would appear as liabilities on a balance sheet of such person; 

  

	 	(c)	all Capital Lease Obligations of such person; 

  

	 	(d)	all guarantees by such person of obligations of others that otherwise constitute Indebtedness; and 

 

	 	(e)	all obligations (contingent or otherwise) of such person as an account party in respect of letters of credit issued to secure payment obligations that otherwise
constitute Indebtedness. 

 “Spin-Off” means the distribution on a pro rata basis to the
shareholders of American Standard Companies Inc., a Delaware corporation, in a tax-free transaction, on the terms described in the Form 10 filed by the Company with the Securities and Exchange Commission on 26 February 2007 and any amendments
thereto, of all the issued and outstanding shares of common stock of the Company. 
 “Unrestricted Cash and Cash
Equivalents” means cash and cash equivalents that are not, or are not required under the terms of any agreement or arrangement to be: 
  

	 	(a)	pledged to, subject to a Lien in favour of, or held in one or more accounts under the control of one or more creditors of the Company or any Subsidiary; or

  
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	 	(b)	otherwise segregated from the general assets of the Company and its Subsidiaries, in one or more special accounts or otherwise, for the purpose of securing or providing
a source of payment for Indebtedness or other obligations that are or from time to time may be owed to one or more creditors of the Company or any Subsidiary. Cash and cash equivalents held in ordinary deposit or securities accounts of the Company
or its Subsidiaries and not subject to any existing or contingent restrictions on transfer by the Company or its Subsidiaries shall be deemed to constitute Unrestricted Cash and Cash Equivalents notwithstanding any setoff rights created by law or by
applicable account agreements in favour of depositary institutions. 

 Provided that each of Consolidated
EBITDA, Consolidated Net Income, Consolidated Net Indebtedness, Consolidated Net Interest Expense, Consolidated Total Debt and Indebtedness shall be determined on a consolidated basis in accordance with US GAAP in force as at the date of
signing of this Agreement, irrespective of any subsequent updates or amendments which may be introduced thereafter. 
  

	29.2	Financial condition 

  

	 	(a)	The Company shall ensure that the ratio of (i) Consolidated Net Indebtedness of the Company on the last day of each quarter of each of its financial years to
(ii) Consolidated EBITDA of the Company for the period of twelve months ending on such day does not exceed 3.00 to 1.00. 

  

	 	(b)	The Company shall ensure that the ratio of (i) Consolidated EBITDA of the Company to (ii) Consolidated Net Interest Expense of the Company, in each case for
any period of twelve months ending on the last day of each quarter of each of its financial years, is not less than 3.00 to 1.00. 

  

	 	(c)	The Company will not permit any of its Subsidiaries to incur Indebtedness (excluding the Indebtedness under the Facility Agreement), (including any extensions, renewals
and replacements of such Indebtedness) of more than USD400,000,000 (the amount of any Indebtedness not denominated in the Base Currency to be converted into the Base Currency at the Agent’s Spot Rate of Exchange on the relevant date) in
aggregate, of which a principal amount of not more than USD150,000,000 (the amount of any Indebtedness not denominated in the Base Currency to be converted into the Base Currency at the Agent’s Spot Rate of Exchange on the relevant date) in
total shall be secured. 

  

	29.3	Financial testing 

 The
financial covenants set out in Clause 29.2 (Financial condition) shall be tested by reference to each of the financial statements and/or each Compliance Certificate delivered pursuant to Clause 28.2 (Compliance Certificate) and any
reconciliation statement delivered pursuant to sub-paragraph (c)(ii) of Clause 28.3 (Requirements as to financial statements). 

  
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	30.	GENERAL UNDERTAKINGS 

 The
undertakings in this Clause 30 remain in force from the date of this Agreement for so long as any amount is outstanding under the Finance Documents or any Commitment is in force. 

 

	30.1	Authorisations 

 Each
Obligor shall promptly: 
  

	 	(a)	obtain, comply with and do all that is necessary to maintain in full force and effect; and 

 

	 	(b)	supply certified copies to the Agent of, 

 any Authorisation required under any law or regulation of its jurisdiction of incorporation to enable it to perform its obligations under the Finance Documents and to ensure the legality, validity,
enforceability or admissibility in evidence in its jurisdiction of incorporation of any Finance Document. 
  

	30.2	Compliance with laws 

Each Obligor shall comply in all respects with all laws to which it may be subject, if failure so to comply is reasonably likely to
materially impair its ability to perform its obligations under the Finance Documents. 
  

	30.3	Negative pledge 

 In this
Clause 30.3, “Quasi-Security” means an arrangement or transaction described in paragraph (b) below. 
  

	 	(a)	No Obligor shall (and the Company shall ensure that no other member of the Group will) create or permit to subsist any Security over any of its assets.

  

	 	(b)	No Obligor shall (and the Company shall ensure that no other member of the Group will): 

 

	 	(i)	sell, transfer or otherwise dispose of any of its assets on terms whereby they are or may be leased to or re-acquired by an Obligor or any other member of the Group;

  

	 	(ii)	sell, transfer or otherwise dispose of any of its receivables on recourse terms; 

 

	 	(iii)	enter into any arrangement under which money or the benefit of a bank or other account may be applied, set-off or made subject to a combination of accounts; or

  

	 	(iv)	 enter into any other preferential arrangement having a similar effect, 

  
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in circumstances where the arrangement or transaction is entered into primarily as a method of raising Financial Indebtedness or of financing the acquisition of an asset. 

 

	 	(c)	Paragraphs (a) and (b) above do not apply to any Security (or as the case may be) Quasi-Security, listed below: 

 

	 	(i)	any Security or Quasi-Security listed in Schedule 10 (Existing Security) except to the extent the principal amount secured by that Security or Quasi-Security exceeds
the amount stated in that Schedule; 

  

	 	(ii)	any netting or set-off arrangement entered into by any member of the Group in the ordinary course of its banking arrangements for the purpose of netting debit and
credit balances; 

  

	 	(iii)	any payment or close out netting or set-off arrangement pursuant to any hedging transaction entered into by a member of the Group for the purpose of:

  

	 	(A)	hedging any risk to which any member of the Group is exposed in its ordinary course of trading; or 

 

	 	(B)	its interest rate or currency management operations which are carried out in the ordinary course of trading and for non-speculative purposes only.

 excluding, in each case, any Security or Quasi-Security under a credit support arrangement in relation to a
hedging transaction; 
  

	 	(iv)	any lien arising by operation of law and in the ordinary course of trading or by order of a court or tribunal (or by an agreement of similar effect);

  

	 	(v)	any Security or Quasi-Security over or affecting any asset acquired by a member of the Group after the date of this Agreement if: 

 

	 	(A)	the Security or Quasi-Security was not created in contemplation of the acquisition of that asset by a member of the Group; 

 

	 	(B)	the principal amount secured has not been increased in contemplation of, or since the acquisition of that asset by a member of the Group; and 

 

	 	(C)	the Security or Quasi-Security is removed or discharged within six months of the date of acquisition of such asset; 

 

	 	(vi)	any Security or Quasi-Security over or affecting any asset acquired by a member of the Group after the date of this Agreement if: 

 

	 	(A)	the Security or Quasi-Security was created on any asset acquired after the date of this Agreement for the sole purpose of financing or re-financing that acquisition and
securing a principal, capital or nominal amount not exceeding the cost of that acquisition; and 

  
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	 	(B)	the Security or Quasi-Security is removed or discharged within six months of the date of acquisition of such asset; 

 

	 	(vii)	any Security or Quasi-Security over or affecting any asset of any company which becomes a member of the Group after the date of this Agreement, where the Security or
Quasi-Security is created prior to the date on which that company becomes a member of the Group, if: 

  

	 	(A)	the Security or Quasi-Security was not created in contemplation of the acquisition of that company; 

 

	 	(B)	the principal amount secured has not increased in contemplation of or since the acquisition of that company; and 

 

	 	(C)	the Security or Quasi-Security is removed or discharged within three months of that company becoming a member of the Group; 

 

	 	(viii)	any Security or Quasi-Security entered into pursuant to any Finance Document; 

 

	 	(ix)	any Security or Quasi-Security arising under any retention of title, hire purchase or conditional sale arrangement or arrangements having similar effect in respect of
goods supplied to a member of the Group in the ordinary course of trading and on the supplier’s standard or usual terms and not arising as a result of any default or omission by any member of the Group; or 

 

	 	(x)	subject to Clause 29.2(a) (Financial Condition), any Security or Quasi-Security securing Indebtedness the principal amount of which (when aggregated with the
principal amount of any other Indebtedness which has the benefit of Security or Quasi-Security given by any member of the Group other than any permitted under paragraphs (i) to (ix) above), when converted into the Base Currency, does not
exceed an amount equal to ten per cent. of the Consolidated Total Assets of the Company at the end of the immediately preceding financial year. 

  

	30.4	Disposals 

  

	 	(a)	No Obligor shall (and the Company shall ensure that no other member of the Group will), enter into a single transaction or a series of transactions (whether related or
not) and whether voluntary or involuntary to sell, lease, transfer or otherwise dispose of any asset (other than cash). 

  

	 	(b)	Paragraph (a) above does not apply to any sale, lease, transfer or other disposal: 

 

	 	(i)	made in the ordinary course of trading of the disposing entity; 

  
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	 	(ii)	of assets in exchange for other assets comparable or superior as to type, value and quality; 

 

	 	(iii)	on normal commercial terms of obsolete assets or assets no longer required for the purpose of the business or operations of the relevant member of the Group;

  

	 	(iv)	assets sold pursuant to any Securitisation Transaction; 

  

	 	(v)	assets sold pursuant to an intra-group reorganisation; 

  

	 	(vi)	by an Obligor to another Obligor, or by a non-Obligor which is a member of the Group to another non-Obligor which is a member of the Group; 

 

	 	(vii)	where the higher of the market value or consideration receivable (when aggregated with the higher of the market value or consideration receivable for any other sale,
lease, transfer or other disposal by the Group, other than any permitted under paragraphs (i) to (iv) above), when converted into the Base Currency, does not exceed an amount equal to 10 per cent. of the Consolidated Total Assets of
the Company as at the end of the immediately preceding financial year; or 

  

	 	(viii)	any disposal which the Majority Lenders shall have agreed shall not be taken into account. 

 

	30.5	Merger 

 No Obligor shall
(and the Company shall ensure that no other member of the Group will) enter into any amalgamation, demerger, merger or corporate reconstruction other than as part of an Intra-Group Reorganisation. 

 

	30.6	Change of business 

 The
Company shall ensure that no substantial change is made to the general nature of the business of the Company or the Group from that carried on at the date of this Agreement. 

 

	30.7	Environmental Compliance 

Each Obligor shall (and the Company shall ensure that each member of the Group will) comply in all material respects with all
Environmental Law and obtain and maintain any Environmental Permits and take all reasonable steps in anticipation of known or expected future changes to or obligations under the same where failure to do so might reasonably be expected to have a
Material Adverse Effect. 

  
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	30.8	Environmental Claims 

 The
Company shall inform the Agent in writing as soon as reasonably practicable upon becoming aware of: 
  

	 	(a)	any Environmental Claim that has been commenced or (to the best of its knowledge and belief) is threatened against any member of the Group; or 

 

	 	(b)	any facts or circumstances which will or are reasonably likely to result in any Environmental Claim being commenced or threatened against any member of the Group,

 where the claim would be reasonably likely, if determined against that member of the Group, to have a Material
Adverse Effect. 
  

	30.9	Compliance with ERISA 

 No
Obligor shall: 
  

	 	(a)	allow, or permit any of its ERISA Affiliates to allow, (i) any Employee Plan with respect to which any Obligor or any of its ERISA Affiliates may have any
liability to terminate, (ii) any Obligor or ERISA Affiliates to withdraw from any Employee Plan or Multiemployer Plan, (iii) any ERISA Event to occur with respect to any Employee Plan, or (iv) any Employee Plan to fail to satisfy the
minimum funding standard (as defined in Section 302 of ERISA and Section 412 of the Code), whether or not waived, to the extent that any of the events described in (i), (ii), (iii) or (iv), singly or in the aggregate, could have a
Material Adverse Effect; 

  

	 	(b)	allow, or permit any of its ERISA Affiliates to allow, (i) the aggregate amount of Unfunded Pension Liability among all Employee Plans (taking into account only
Employee Plans with positive Unfunded Pension Liability) at any time to be in an amount that would reasonably be expected to have a Material Adverse Effect; or (ii) the aggregate potential withdrawal liability under Section 4201 of ERISA,
if the Obligor and its ERISA Affiliates were to completely or partially withdraw from all Multiemployer Plans, to be in an amount that would reasonably be expected to have a Material Adverse Effect; or 

 

	 	(c)	fail, or permit any of its ERISA Affiliates to fail, to comply in any material respect with ERISA or the related provisions of the Code, if any such non-compliance,
singly or in the aggregate, would be reasonably likely to have a Material Adverse Effect. 

  

	30.10	Federal Reserve Regulations 

 Each U.S. Borrower will use the Facilities without violating Regulations T, U and X. 
  

	30.11	Compliance with U.S. Regulations 

 No Obligor shall (and the Company shall ensure that no other member of the Group will) become an “investment company,” or an “affiliated person” of, or “promoter” or
“principal underwriter” for, an “investment company,” as such terms are defined in 

  
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the 1940 Act. Neither the making of any Loan, or the application of the proceeds or repayment of any Loan by any Obligor nor the consummation of the other transactions contemplated by this
agreement will violate any provision of such act or any rule, regulation or order of the SEC under the 1940 Act. 
  

	30.12	Use of Proceeds 

 No
Obligor shall cause or permit the proceeds of any Utilisation to be used, directly or indirectly, to make a loan or other advance to, invest in or contribute to or otherwise support the activities or business of any person, entity, country or
governmental authority that is subject of sanctions administered by the U.S. Treasury Department’s Office of Foreign Assets Control. 
  

	31.	EVENTS OF DEFAULT 

 Each
of the events or circumstances set out in this Clause 31 is an Event of Default (save as for Clause 31.15 (Acceleration)). 
  

	31.1	Non-payment 

 An Obligor
does not pay on the due date any amount payable pursuant to a Finance Document at the place at and in the currency in which it is expressed to be payable unless its failure to pay is caused by administrative or technical error or a Disruption Event
and payment is made within three Business Days of its due date. 
  

	31.2	Financial covenants 

 Any
of the financial covenants set out in Clause 29 (Financial covenants) is not satisfied. 
  

	31.3	Other obligations 

  

	 	(a)	An Obligor does not comply with any provision of the Finance Documents (other than those referred to in Clause 31.1 (Non-payment) and Clause 29 (Financial
covenants)). 

  

	 	(b)	No Event of Default under paragraph (a) above will occur if the failure to comply is capable of remedy and is remedied within 30 days of the earlier of
(A) the Agent giving notice to the Company and (B) the Company becoming aware of the failure to comply. 

  

	31.4	Misrepresentation 

 Any
representation or statement made or deemed to be made by an Obligor in the Finance Documents or any other document delivered by or on behalf of any Obligor under or in connection with any Finance Document is or proves to have been incorrect or
misleading in any material respect when made or deemed to be made. 
  

	31.5	Cross default 

  

	 	(a)	Any Financial Indebtedness of any Obligor or Material Company is not paid when due nor within any originally applicable grace period. 

  
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	 	(b)	Any Financial Indebtedness of any Obligor or Material Company is declared to be or otherwise becomes due and payable prior to its specified maturity as a result of an
event of default (however described). 

  

	 	(c)	Any commitment for any Financial Indebtedness of any Obligor or Material Company is cancelled or suspended by a creditor of any Obligor or Material Company as a result
of an event of default (however described). 

  

	 	(d)	Any creditor of any Obligor or Material Company becomes entitled to declare any Financial Indebtedness of any Obligor or Material Company due and payable prior to its
specified maturity as a result of an event of default (however described). 

  

	 	(e)	No Event of Default will occur under this Clause 31.5 if, at any one time, the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness
falling within paragraphs (a) to (d) above is less than USD75,000,000 (the amount of any Financial Indebtedness not denominated in the Base Currency to be converted into the Base Currency at the Agent’s Spot Rate of Exchange on the
relevant date). 

  

	31.6	Insolvency 

  

	 	(a)	An Obligor or Material Company is unable or admits inability to pay its debts as they fall due, suspends making payments on any of its debts or, by reason of actual or
anticipated financial difficulties, commences negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness. 

  

	 	(b)	The value of the assets of any Obligor or Material Company is less than its liabilities (taking into account contingent and prospective liabilities).

  

	 	(c)	A moratorium is declared in respect of any indebtedness of any Obligor or Material Company. 

 

	31.7	Insolvency proceedings 

Any corporate action, legal proceedings or other procedure or step is taken in relation to: 

 

	 	(a)	the suspension of payments, a moratorium of any indebtedness, winding-up, dissolution, administration or reorganisation (by way of voluntary arrangement, scheme of
arrangement or otherwise) of any Obligor or Material Company other than a solvent liquidation or reorganisation of any Material Company; 

  

	 	(b)	a composition, compromise, assignment or arrangement with any creditor of any Obligor or Material Company; 

 

	 	(c)	the appointment of a liquidator (other than in respect of a solvent liquidation of a Material Company), receiver, administrative receiver, administrator, judicial
manager, compulsory manager or other similar officer in respect of any Obligor or Material Company or any of its assets; or 

  
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	 	(d)	enforcement of any Security over any assets of any Obligor or Material Company. 

 This Clause 31.7 shall not apply to (i) any winding-up petition which is frivolous or vexatious and is discharged, stayed or dismissed within 30 days of commencement or (ii) a voluntary solvent
winding-up, amalgamation, reconstruction or reorganisation or otherwise part of a solvent scheme of arrangement, in each case which is on terms approved by the Majority Lenders. 

 

	31.8	Declared company 

 Any
Obligor incorporated in Singapore is declared by the Singapore Minister of Finance to be a company to which Part IX of the Companies Act, Chapter 50 of Singapore applies. 

 

	31.9	Creditors’ process 

Any expropriation, attachment, sequestration, distress or execution affects any asset or assets of a member of the Group having an
aggregate value of more than USD75,000,000 (any amount not denominated in the Base Currency to be converted into the Base Currency at the Agent’s Spot Rate of Exchange on the relevant date). 

 

	31.10	Ownership of the Obligors 

The percentage of shares held by the Company in any Obligor decreases below the percentage of shares in such Obligor held by it on the
date of this Agreement or the date such Obligor accedes to this Agreement. 
  

	31.11	Unlawfulness 

 It is or
becomes unlawful for an Obligor to perform any of its obligations under the Finance Documents. 
  

	31.12	Repudiation 

 An Obligor
repudiates a Finance Document or evidences an intention to repudiate a Finance Document. 
  

	31.13	Employee Plans 

 Any ERISA
Event shall have occurred, or Clause 30.9 (Compliance with ERISA) shall be breached, and the liability of an Obligor or its ERISA Affiliates, either individually or in the aggregate, related to such ERISA Event or breaches, individually or
when aggregated with all other ERISA Events, and all such breaches would have or would be reasonably expected to have a Material Adverse Effect. 
  

	31.14	Cessation of business 

The Group suspends or ceases to carry on (or threatens to suspend or cease to carry on) all or a material part of its business.

  
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	31.15	Acceleration 

 On and at
any time after the occurrence of an Event of Default, the Agent may, and shall if so directed by the Majority Lenders, by notice to the Company: 
  

	 	(a)	cancel the Total Commitments, at which time they shall immediately be cancelled; 

 

	 	(b)	declare that all or part of the Utilisations, together with accrued interest, and all other amounts accrued or outstanding under the Finance Documents be immediately
due and payable, at which time they shall become immediately due and payable; 

  

	 	(c)	declare that all or part of the Utilisations be payable on demand, at which time they shall immediately become payable on demand by the Agent on the instructions of the
Majority Lenders; 

  

	 	(d)	declare that full cash cover in respect of each Letter of Credit is immediately due and payable whereupon it shall become immediately due and payable; and/or

  

	 	(e)	declare that full cash cover in respect of each Letter of Credit is payable on demand, whereupon it shall become immediately payable on demand by the Agent on the
instructions of the Majority Lenders, 

 but, notwithstanding the foregoing, upon the occurrence of an Event of
Default specified in Clause 31.7 (Insolvency Proceedings), the Facility shall be cancelled and all Utilisations, together with accrued interest, and all other amounts accrued or outstanding under the Finance Documents shall become immediately
due and payable in each case without declaration, notice or demand by or to any person, all of which are expressly waived. 

  
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 SECTION 9 
 CHANGES TO PARTIES 
  

	32.	CHANGES TO THE LENDERS 

  

	32.1	Assignments and transfers by the Lenders 

 Subject to this Clause 32, a Lender (the “Existing Lender”) may: 
  

	 	(a)	assign any of its rights; or 

  

	 	(b)	transfer by novation any of its rights and obligations, 

 to another bank or financial institution or to a trust, fund or other entity which is regularly engaged in or established for the purpose of making, purchasing or investing in loans, securities or other
financial assets (the “New Lender”) provided that (unless such assignment or transfer is to an Affiliate of the Existing Lender or an Event of Default is continuing) such assignment or transfer is of a minimum amount of
USD2,500,000 or, if less, the total amount of such Lender’s Commitment or as the Company and the Agent may agree. 
  

	32.2	Conditions of assignment or transfer 

  

	 	(a)	The consent of the Company is required for an assignment or transfer by an Existing Lender, unless an Event of Default is continuing or, provided that five
days’ prior written notice has been given to the Company, the assignment or transfer is to another Lender or to an Affiliate of a Lender. 

  

	 	(b)	The consent of the Company to an assignment or transfer must not be unreasonably withheld or delayed. The Company will be deemed to have given its consent five Business
Days after the Existing Lender has requested it in writing unless consent is expressly refused by the Company within that time. 

  

	 	(c)	The consent of the Company to an assignment or transfer must not be withheld solely because the assignment or transfer may result in an increase to the Mandatory Cost.

  

	 	(d)	The consent of the Issuing Bank, each Swingline Lender and each Swingline Agent is required for a transfer by an Existing Lender of any of its rights and/or obligations
under the Facility unless the New Lender: 

  

	 	(i)	has a long-term senior unsecured rating with either S&P or Moody’s of A-/A3 or better: or 

 

	 	(ii)	in the case of the Issuing Bank consent, such New Lender deposits in a collateral account (held in the name of the relevant New Lender but under the sole dominion and
control of the Agent for the benefit of the Issuing Bank) cash in an amount equal to such New Lender’s L/C Proportion in any Letter of Credit as collateral for its obligations to the Issuing Bank, over which security, in a form reasonably
acceptable to the Agent and the Issuing Bank, has been granted. 

  
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	 	(e)	An assignment will only be effective on: 

  

	 	(i)	receipt by the Agent (whether in the Assignment Agreement or otherwise) of written confirmation from the New Lender (in form and substance satisfactory to the Agent)
that the New Lender will assume the same obligations to the other Finance Parties as it would have been under if it was an Original Lender; and 

  

	 	(ii)	performance by the Agent of all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to such
assignment to a New Lender, the completion of which the Agent shall promptly notify to the Existing Lender and the New Lender. 

  

	 	(f)	A transfer will only be effective if the procedure set out in Clause 32.5 (Procedure for transfer) is complied with. 

 

	 	(g)	If: 

  

	 	(i)	a Lender assigns or transfers any of its rights or obligations under the Finance Documents or changes its Facility Office; and 

 

	 	(ii)	as a result of circumstances existing at the date the assignment, transfer or change occurs, an Obligor would be obliged to make a payment to the New Lender or Lender
acting through its new Facility Office under Clause 21 (Tax Gross Up and Indemnities) or Clause 22 (Increased costs), 

 then the New Lender or Lender acting through its new Facility Office is only entitled to receive payment under those Clauses to the same extent as the Existing Lender or Lender acting through its previous
Facility Office would have been if the assignment, transfer or change had not occurred. 
  

	 	(h)	Each New Lender, by executing the relevant Transfer Certificate or Assignment Agreement, confirms, for the avoidance of doubt, that the Agent has authority to execute
on its behalf any amendment or waiver that has been approved by or on behalf of the requisite Lender or Lenders in accordance with this Agreement on or prior to the date on which the transfer or assignment becomes effective in accordance with this
Agreement and that it is bound by that decision to the same extent as the Existing Lender would have been had it remained a Lender. 

  

	32.3	Assignment or transfer fee 

  

	 	(a)	The New Lender shall, on the date upon which an assignment or transfer takes effect, pay to the Agent (for its own account) a fee of USD2,000. 

 

	 	(b)	No costs or fees shall be due or payable by the Company or any Obligor in relation to any assignment or transfer by an Existing Lender pursuant to this Clause 32
(Changes to the Lenders). 

  

  
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	32.4	Limitation of responsibility of Existing Lenders 

  

	 	(a)	Unless expressly agreed to the contrary, an Existing Lender makes no representation or warranty and assumes no responsibility to a New Lender for:

  

	 	(i)	the legality, validity, effectiveness, adequacy or enforceability of the Finance Documents or any other documents; 

 

	 	(ii)	the financial condition of any Obligor; 

  

	 	(iii)	the performance and observance by any Obligor of its obligations under the Finance Documents or any other documents; or 

 

	 	(iv)	the accuracy of any statements (whether written or oral) made in or in connection with any Finance Document or any other document, 

and any representations or warranties implied by law are excluded. 

 

	 	(b)	Each New Lender confirms to the Existing Lender and the other Finance Parties that it: 

 

	 	(i)	has made (and shall continue to make) its own independent investigation and assessment of the financial condition and affairs of each Obligor and its related entities
in connection with its participation in this Agreement and has not relied exclusively on any information provided to it by the Existing Lender in connection with any Finance Document; and 

 

	 	(ii)	will continue to make its own independent appraisal of the creditworthiness of each Obligor and its related entities whilst any amount is or may be outstanding under
the Finance Documents or any Commitment is in force. 

  

	 	(c)	Nothing in any Finance Document obliges an Existing Lender to: 

  

	 	(i)	accept a re-transfer or re-assignment from a New Lender of any of the rights and obligations assigned or transferred under this Clause 32; or 

 

	 	(ii)	support any losses directly or indirectly incurred by the New Lender by reason of the non-performance by any Obligor of its obligations under the Finance Documents or
otherwise. 

  

	32.5	Procedure for transfer 

  

	 	(a)	Subject to the conditions set out in Clause 32.2 (Conditions of assignment or transfer) a transfer is effected in accordance with paragraph (c) below when
the Agent executes an otherwise duly completed Transfer Certificate delivered to it by the Existing Lender and the New Lender and the Agent makes a corresponding entry in the Register pursuant to Clause 32.7 (The Register). The Agent shall,
subject to paragraph (b) below, as soon as reasonably practicable after receipt by it of a duly completed Transfer Certificate appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this
Agreement, execute that Transfer Certificate and make such corresponding entry in the Register. 

  
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	 	(b)	The Agent shall only be obliged to execute a Transfer Certificate delivered to it by the Existing Lender and the New Lender and make a corresponding entry in the
Register once it is satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the transfer to such New Lender. 

 

	 	(c)	Subject to Clause 32.10 (Pro rata interest settlement), on the Transfer Date: 

 

	 	(i)	to the extent that in the Transfer Certificate the Existing Lender seeks to transfer by novation its rights and obligations under the Finance Documents each of the
Obligors and the Existing Lender shall be released from further obligations towards one another under the Finance Documents and their respective rights against one another under the Finance Documents shall be cancelled (being the “Discharged
Rights and Obligations”); 

  

	 	(ii)	each of the Obligors and the New Lender shall assume obligations towards one another and/or acquire rights against one another which differ from the Discharged Rights
and Obligations only insofar as that Obligor and the New Lender have assumed and/or acquired the same in place of that Obligor and the Existing Lender; 

  

	 	(iii)	the Agent, the Arranger, the New Lender, the Issuing Bank, the Swingline Lenders, the Swingline Agents and the other Lenders shall acquire the same rights and assume
the same obligations between themselves as they would have acquired and assumed had the New Lender been an Original Lender with the rights and/or obligations acquired or assumed by it as a result of the transfer and to that extent the Agent, the
Arranger, the Issuing Bank, the Swingline Lenders, the Swingline Agents and the Existing Lender shall each be released from further obligations to each other under the Finance Documents; 

 

	 	(iv)	the benefit of each security document granted under or in connection with the Finance Documents in favour of the Existing Lender shall be maintained in favour of the
New Lender; and 

  

	 	(v)	the New Lender shall become a Party as a “Lender”. 

  

	32.6	Procedure for assignment 

  

	 	(a)	Subject to the conditions set out in Clause 32.2 (Conditions of assignment or transfer) an assignment may be effected in accordance with paragraph (c) below
when the Agent executes an otherwise duly completed Assignment Agreement delivered to it by the Existing Lender and the New Lender. The Agent shall, subject to paragraph (b) below, as soon as reasonably practicable after receipt by it of a duly
completed Assignment Agreement appearing on its face to comply with the terms of this Agreement and delivered in accordance with the terms of this Agreement, execute that Assignment Agreement. 

  
 - 103 -

	 	(b)	The Agent shall only be obliged to execute an Assignment Agreement delivered to it by the Existing Lender and the New Lender once it is satisfied it has complied with
all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to the assignment to such New Lender. 

 

	 	(c)	Subject to Clause 32.10 (Pro rata interest settlement), on the Transfer Date: 

 

	 	(i)	the Existing Lender will assign absolutely to the New Lender the rights under the Finance Documents expressed to be the subject of the assignment in the Assignment
Agreement; 

  

	 	(ii)	the Existing Lender will be released by each Obligor and the other Finance Parties from the obligations owed by it (the “Relevant Obligations”) and
expressed to be the subject of the release in the Assignment Agreement; and 

  

	 	(iii)	the New Lender shall become a Party as a “Lender” and will be bound by obligations equivalent to the Relevant Obligations. 

 

	 	(d)	Lenders may utilise procedures other than those set out in this Clause 32.6 to assign their rights under the Finance Documents (but not, without the consent of the
relevant Obligor or unless in accordance with Clause 32.5 (Procedure for transfer), to obtain a release by that Obligor from the obligations owed to that Obligor by the Lenders nor the assumption of equivalent obligations by a New Lender)
provided that they comply with the conditions set out in Clause 32.2 (Conditions of assignment or transfer). 

  

	 	(e)	The Parties acknowledge that, in the absence of express provision, security passes together with an assignment (Art. 1692 of the Belgian Civil Code), but not together
with a novation (Art. 1278 of the Belgian Civil Code). 

  

	32.7	The Register 

 The Agent,
acting solely for this purpose as an agent of the Obligors, shall maintain at one of its offices a copy of each Transfer Certificate delivered to it and a register (the “Register”) for the recordation of the names and addresses of
each Lender and the Commitments of and obligations owing to each Lender. No transfer of an interest in a Commitment hereunder shall be effective unless and until recorded in the Register. The entries in the Register shall be conclusive absent
manifest error and each Obligor, the Agent and each Lender shall treat each person whose name is recorded in the Register as a Lender notwithstanding any notice to the contrary. 

 

	32.8	Copy Documents to Company 

The Agent shall, as soon as reasonably practicable after it has executed a Transfer Certificate, an Assignment Agreement, a Designated
Entity Accession Letter, an Increase Confirmation Notice or a Further Lender Accession Letter send to the Company a copy of that Transfer Certificate, Assignment Agreement, Increase Confirmation Notice or Further Lender Accession Letter. 

  
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	32.9	Security over Lenders’ rights 

 In addition to the other rights provided to Lenders under this Clause 32.9, each Lender may without consulting with or obtaining consent from any Obligor at any time charge, assign or otherwise create
Security in or over (whether by way of collateral or otherwise) all or any of its rights under any Finance Document to secure obligations of that Lender including, without limitation: 

 

	 	(a)	any charge, assignment or other Security to secure obligations to a federal reserve or central bank; and 

 

	 	(b)	in the case of any Lender which is a fund, any charge, assignment or other Security granted to any holders (or trustee or representatives of holders) of obligations
owed, or securities issued, by that Lender as Security for those obligations or securities, 

 except that no such
charge, assignment or Security shall: 
  

	 	(i)	release a Lender from any of its obligations under the Finance Documents or substitute the beneficiary of the relevant charge, assignment or Security for the Lender as
a party to any of the Finance Documents; or 

  

	 	(ii)	require any payments to be made by an Obligor or grant to any person any more extensive rights than those required to be made or granted to the relevant Lender under
the Finance Documents. 

  

	32.10	Pro rata interest settlement 

 If the Agent has notified the Lenders that it is able to distribute interest payments on a “pro rata basis” to Existing Lenders and New Lenders then (in respect of any transfer pursuant
to Clause 32.5 (Procedure for transfer) or any assignment pursuant to Clause 32.6 (Procedure for assignment) the Transfer Date of which, in each case, is after the date of such notification and is not on the last day of an Interest
Period): 
  

	 	(a)	any interest or fees in respect of the relevant participation which are expressed to accrue by reference to the lapse of time shall continue to accrue in favour of the
Existing Lender up to but excluding the Transfer Date (“Accrued Amounts”) and shall become due and payable to the Existing Lender (without further interest accruing on them) on the last day of the current Interest Period (or, if the
Interest Period is longer than six Months, on the next of the dates which falls at six Monthly intervals after the first day of that Interest Period); and 

  

	 	(b)	the rights assigned or transferred by the Existing Lender will not include the right to the Accrued Amounts, so that, for the avoidance of doubt:

  

	 	(i)	when the Accrued Amounts become payable, those Accrued Amounts will be payable to the Existing Lender; and 

 

  
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	 	(ii)	the amount payable to the New Lender on that date will be the amount which would, but for the application of this Clause 32.10, have been payable to it on that date,
but after deduction of the Accrued Amounts. 

  

	32.11	Designated Entities 

  

	 	(a)	Any Lender (a “Related Lender”) may designate an Affiliate (a “Designated Entity”) in order to participate in Loans to Borrowers
incorporated in a particular jurisdiction or jurisdictions (“Designated Jurisdictions”) on its behalf. 

  

	 	(b)	An Affiliate of a Lender may become a Designated Entity by: 

  

	 	(i)	appearing in the list of Designated Entities in Schedule 18 (Designated Entities) of this Agreement and signing this Agreement as a Designated Entity; or

  

	 	(ii)	acceding as a Designated Entity by delivering a Designated Entity Accession Letter duly executed by that Affiliate and its Related Lender. 

An accession referred to in sub-paragraph (b)(ii) above shall become effective when the Agent executes such Designated Entity Accession
Letter. The Agent shall, subject to paragraph (c) below, as soon as reasonably practicable after receipt by it of a duly completed Designated Entity Accession Letter appearing on its face to comply with the terms of this Agreement and delivered
in accordance with the terms of this Agreement, execute that Designated Entity Accession Letter. 
  

	 	(c)	The Agent shall only be obliged to execute a Designated Entity Accession Letter delivered to it by a proposed Designated Entity and its Related Lender once it is
satisfied it has complied with all necessary “know your customer” or other similar checks under all applicable laws and regulations in relation to such proposed Designated Entity. 

 

	 	(d)	A Designated Entity does not have any Commitment and does not have any obligations under this Agreement prior to such Designated Entity participating in a Loan.

  

	 	(e)	The relevant Related Lender shall provide the Agent with five Business Days’ written notice if it requires a Designated Entity to participate in Loan(s) to
Borrowers incorporated in a Designated Jurisdiction, specifying the Base Currency Amount of the Designated Entity’s participation in the relevant Loan(s) and the Agent shall inform the Company of that Designated Entity’s participation on
the day of receipt of such notice. 

  

	 	(f)	On the date a Designated Entity participates in a Loan, subject to paragraph (g) below: 

 

	 	(i)	 such Designated Entity shall become a Party as a Lender and such Designated Entity and each of the other Finance Parties shall assume the same
obligations towards one another and acquire the same rights 

  
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against one another as that Designated Entity and those Finance Parties would have assume and/or acquired had the Designated Entity been an Original Lender; and 

 

	 	(ii)	the Obligors and such Designated Entity shall assume the same obligations towards one another and acquire the same rights against one another as the Obligors and that
Designated Entity would have assumed and/or acquired had the Designated Entity been an Original Lender. 

  

	 	(g)	For the purposes only of voting in connection with any Finance Document, the participation of a Designated Entity in any outstanding Loans shall be deemed to be a
participation of the Related Lender. 

  

	 	(h)	A Related Lender will: 

  

	 	(i)	so long as the relevant Designated Entity is able to do so, procure that, subject to the terms of this Agreement, that Designated Entity participates in Loans to
Borrower(s) in its Designated Jurisdiction; and 

  

	 	(ii)	subject to the terms of this Agreement, assume the obligations of the relevant Designated Entity if that Designated Entity becomes a Non-Acceptable L/C Lender or a
Defaulting Lender. 

  

	 	(i)	Any notice or communication to be made to a Designated Entity shall be served directly on the Designated Entity at the address supplied to the Agent by the Related
Lender or the Designated Entity with a copy to the Related Lender in accordance with this Agreement. 

  

	 	(j)	A Designated Entity may assign or transfer any of its rights and obligations under this Agreement in respect of its participation in any Loan (and the Related Lender
may assign or transfer any corresponding Commitment) in accordance with Clause 32 (Changes to the Lenders). 

  

	33.	CHANGES TO THE OBLIGORS 

  

	33.1	Assignments and transfers by Obligors 

 No Obligor may assign any of its rights or transfer any of its rights or obligations under the Finance Documents. 
  

	33.2	Additional Borrowers 

  

	 	(a)	Subject to compliance with the provisions of paragraphs (c) and (d) of Clause 28.8 (“Know your customer” checks), the Company may
request that any of its Subsidiaries becomes an Additional Borrower. That Subsidiary shall become an Additional Borrower if: 

  

	 	(i)	all the Lenders approve the addition of that Subsidiary responding within a reasonable timeframe; 

 

  
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	 	(ii)	the Company delivers to the Agent a duly completed and executed Accession Letter; 

 

	 	(iii)	the Company confirms that no Default is continuing or would occur as a result of that Subsidiary becoming an Additional Borrower; and 

 

	 	(iv)	the Agent has received all of the documents and other evidence listed in Part II of Schedule 2 (Conditions precedent) in relation to that Additional Borrower,
each in form and substance reasonably satisfactory to the Agent. 

  

	 	(b)	The Agent shall notify the Company and the Lenders promptly upon being satisfied that it has received (in form and substance reasonably satisfactory to it) all the
documents and other evidence listed in Part II of Schedule 2 (Conditions precedent). 

  

	33.3	Resignation of a Borrower 

  

	 	(a)	The Company may request that a Borrower (other than the Company) ceases to be a Borrower by delivering to the Agent a Resignation Letter. 

 

	 	(b)	The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: 

 

	 	(i)	no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); and 

 

	 	(ii)	the Borrower is under no actual or contingent obligations as a Borrower under any Finance Documents, 

at which time that company shall cease to be a Borrower and shall have no further rights or obligations under the Finance Documents.

  

	33.4	Additional Guarantors 

  

	 	(a)	Subject to compliance with the provisions of paragraphs (c) and (d) of Clause 28.8 (“Know your customer” checks), the Company may
request that any of its Subsidiaries become an Additional Guarantor. That Subsidiary shall become an Additional Guarantor if: 

  

	 	(i)	the Company delivers to the Agent a duly completed and executed Accession Letter; and 

 

	 	(ii)	the Agent has received all of the documents and other evidence listed in Part II of Schedule 2 (Conditions precedent) in relation to that Additional Guarantor,
each in form and substance reasonably satisfactory to the Agent. 

  

	 	(b)	The Agent shall notify the Company and the Lenders promptly upon being satisfied that it has received (in form and substance reasonably satisfactory to it) all the
documents and other evidence listed in Part II of Schedule 2 (Conditions precedent). 

  
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	33.5	Repetition of Representations 

 Delivery of an Accession Letter constitutes confirmation by the relevant Subsidiary that the Repeating Representations are true and correct in relation to it as at the date of delivery as if made by
reference to the facts and circumstances then existing. 
  

	33.6	Resignation of a Guarantor 

  

	 	(a)	The Company may request that a Guarantor (other than the Company) ceases to be a Guarantor by delivering to the Agent a Resignation Letter. 

 

	 	(b)	The Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if: 

 

	 	(i)	no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case); 

 

	 	(ii)	all the Lenders have consented to the Company’s request; and 

  

	 	(iii)	where the Guarantor is also a Borrower, it is under no actual or contingent obligations as a Borrower and has resigned and ceased to be a Borrower under Clause 33.3
(Resignation of a Borrower), 

 at which time that company shall cease to be a Guarantor and shall have no
further rights or obligations under the Finance Documents. 

  
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 SECTION 10 
 THE FINANCE PARTIES 
  

	34.	ROLE OF THE AGENT AND THE ARRANGER 

  

	34.1	Appointment of the Agent 

  

	 	(a)	Each other Finance Party appoints the Agent to act as its agent under and in connection with the Finance Documents. 

 

	 	(b)	Each other Finance Party authorises the Agent to exercise the rights, powers, authorities and discretions specifically given to the Agent under or in connection with
the Finance Documents together with any other incidental rights, powers, authorities and discretions. 

  

	34.2	Duties of the Agent 

  

	 	(a)	Subject to paragraph (b) below, the Agent shall promptly forward to a Party the original or a copy of any document which is delivered to the Agent for that Party
by any other Party. 

  

	 	(b)	Without prejudice to Clause 32.8 (Copy Documents to Company), paragraph (a) above shall not apply to any Transfer Certificate or to any Assignment
Agreement. 

  

	 	(c)	Except where a Finance Document specifically provides otherwise, the Agent is not obliged to review or check the adequacy, accuracy or completeness of any document it
forwards to another Party. 

  

	 	(d)	If the Agent receives notice from a Party referring to this Agreement, describing a Default and stating that the circumstance described is a Default, it shall promptly
notify the other Finance Parties. 

  

	 	(e)	If the Agent is aware of the non-payment of any principal, interest, commitment fee or other fee payable to a Finance Party (other than the Agent or the Arranger) under
this Agreement it shall promptly notify the other Finance Parties. 

  

	 	(f)	The Agent’s duties under the Finance Documents are solely mechanical and administrative in nature. 

 

	34.3	Role of the Arranger 

Except as specifically provided in the Finance Documents, the Arranger has no obligations of any kind to any other Party under or in
connection with any Finance Document. 
  

	34.4	No fiduciary duties 

  

	 	(a)	Nothing in this Agreement constitutes the Agent, the Arranger, the Issuing Bank, a Swingline Agent or a Swingline Lender as a trustee or fiduciary of any other person.

  
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	 	(b)	None of the Agent, the Arranger, the Issuing Bank, a Swingline Agent or a Swingline Lender shall be bound to account to any Lender for any sum or the profit element of
any sum received by it for its own account. 

  

	34.5	Business with the Group 

The Agent and the Arranger may accept deposits from, lend money to and generally engage in any kind of banking or other business with any
member of the Group. 
  

	34.6	Rights and discretions of the Agent, the Issuing Bank, the Swingline Agents and the Swingline Lenders 

 

	 	(a)	The Agent, the Issuing Bank, the Swingline Agents and the Swingline Lenders may (in the absence of manifest error) rely on: 

 

	 	(i)	any representation, notice or document believed by it to be genuine, correct and appropriately authorised; and 

 

	 	(ii)	any statement made by a director, Financial Officer, authorised signatory or employee of any person regarding any matters which may reasonably be assumed to be within
his knowledge or within his power to verify. 

  

	 	(b)	The Agent may assume (unless it has received notice to the contrary in its capacity as agent for the Lenders) that: 

 

	 	(i)	no Default has occurred (unless it has actual knowledge of a Default arising under Clause 31.1 (Non-payment)); 

 

	 	(ii)	any right, power, authority or discretion vested in any Party or the Majority Lenders has not been exercised; and 

 

	 	(iii)	any notice or request made by the Company (other than a Utilisation Request or any other notice or request which concerns the Company only and no other Obligor in any
respect) is made on behalf of and with the consent and knowledge of all the Obligors. 

  

	 	(c)	The Agent, the Issuing Bank, the Swingline Agents and the Swingline Lenders may engage, pay for and rely on the advice or services of any lawyers, accountants,
surveyors or other experts. 

  

	 	(d)	The Agent, the Issuing Bank, the Swingline Agents and the Swingline Lenders may act in relation to the Finance Documents through their respective personnel and agents.

  

	 	(e)	The Agent and each Swingline Agent may disclose to any other Party any information it reasonably believes it has received as Agent or Swingline Agent, as applicable,
under this Agreement. 

  

	 	(f)	Notwithstanding any other provision of any Finance Document to the contrary, none of the Issuing Bank, the Swingline Lender, the Swingline Agents, the Agent or the
Arranger is obliged to do or omit to do anything if it would or might in its reasonable opinion constitute a breach of any law or regulation or a breach of a fiduciary duty or duty of confidentiality. 

  
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	34.7	Majority Lenders’ instructions 

  

	 	(a)	Unless a contrary indication appears in a Finance Document, the Agent shall (i) exercise any right, power, authority or discretion vested in it as Agent in
accordance with any instructions given to it by the Majority Lenders (or, if so instructed by the Majority Lenders, refrain from exercising any right, power, authority or discretion vested in it as Agent) and (ii) not be liable for any act (or
omission) if it acts (or refrains from taking any action) in accordance with an instruction of the Majority Lenders. 

  

	 	(b)	Unless a contrary indication appears in a Finance Document, any instructions given by the Majority Lenders will be binding on all the Finance Parties.

  

	 	(c)	The Agent may refrain from acting in accordance with the instructions of the Majority Lenders (or, if appropriate, the Lenders) until it has received such security as
it may require for any cost, loss or liability (together with any associated VAT) which it may incur in complying with the instructions. 

  

	 	(d)	In the absence of instructions from the Majority Lenders, (or, if appropriate, the Lenders) the Agent may act (or refrain from taking action) as it considers to be in
the best interest of the Lenders. 

  

	 	(e)	The Agent is not authorised to act on behalf of a Lender (without first obtaining that Lender’s consent) in any legal or arbitration proceedings relating to any
Finance Document. 

  

	34.8	Responsibility for documentation 

 None of the Issuing Bank, the Swingline Agents, the Swingline lender, the Agent or the Arranger is responsible for: 
  

	 	(a)	the adequacy, accuracy and/or completeness of any information (whether oral or written) provided by the Agent, the Arranger, the Issuing Bank, the Swingline Agents, the
Swingline Lender, an Obligor or any other person given in or in connection with any Finance Document, the Debtdomain Information or the transactions contemplated by the Finance Documents; 

 

	 	(b)	the legality, validity, effectiveness, adequacy or enforceability of any Finance Document or any other agreement, arrangement or document entered into, made or executed
in anticipation of or in connection with any Finance Document; or 

  

	 	(c)	any determination as to whether any information provided or to be provided to any Finance Party is non-public information the use of which may be regulated or
prohibited by applicable law or regulation relating to insider dealing or otherwise. 

  
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	34.9	Exclusion of liability 

  

	 	(a)	Without limiting paragraph (b) below (and without prejudice to the provisions of paragraph (e) of Clause 37.10 (Disruption to Payment Systems etc.),
neither the Agent, any Swingline Lender, any Swingline Agent nor the Issuing Bank will be liable (in the case of the Agent including, without limitation, for negligence or any other category of liability whatsoever) for any action taken by it under
or in connection with any Finance Document, unless directly caused by its gross negligence or wilful misconduct. 

  

	 	(b)	No Party (other than the Agent) may take any proceedings against any officer, employee or agent of the Agent or the Issuing Bank or any Swingline Agent or any Swingline
Lender in respect of any claim it might have against the Agent or the Issuing Bank or any Swingline Agent or any Swingline Lender or in respect of any act or omission of any kind by that officer, employee or agent in relation to any Finance Document
and any officer, employee or agent of the Agent or the Issuing Bank or any Swingline Agent or any Swingline Lender may rely on this Clause subject to Clause 1.4 (Third Party Rights) and the provisions of the Third Parties Act.

  

	 	(c)	The Agent will not be liable for any delay (or any related consequences) in crediting an account with an amount required under the Finance Documents to be paid by the
Agent if the Agent has taken all necessary steps as soon as reasonably practicable to comply with the regulations or operating procedures of any recognised clearing or settlement system used by the Agent for that purpose. 

 

	 	(d)	Nothing in this Agreement shall oblige the Agent or the Arranger to carry out any “know your customer” or other checks in relation to any person on behalf of
any Lender and each Lender confirms to the Agent and the Arranger that it is solely responsible for any such checks it is required to carry out and that it may not rely on any statement in relation to such checks made by the Agent or the Arranger.

  

	34.10	Lenders’ indemnity to the Agent 

 Each Lender shall (in proportion to its share of the Total Commitments or, if the Total Commitments are then zero, to its share of the Total Commitments immediately prior to their reduction to zero)
indemnify the Agent, within three Business Days of demand, against any cost, loss or liability (including, without limitation, for negligence or any other category of liability whatsoever) incurred by the Agent (otherwise than by reason of the
Agent’s gross negligence or wilful misconduct) (or, in the case of any cost, loss or liability pursuant to Clause 37.10 (Disruption to Payment Systems etc.) notwithstanding the Agent’s negligence, gross negligence or any other
category of liability whatsoever but not including any claim based on the fraud of the Agent) in acting as Agent under the Finance Documents (unless the Agent has been reimbursed by an Obligor pursuant to a Finance Document). 

  
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	34.11	Resignation of the Agent 

  

	 	(a)	The Agent may resign and appoint one of its Affiliates acting through an office in the United Kingdom as successor by giving notice to the other Finance Parties and the
Company. 

  

	 	(b)	Alternatively the Agent may resign by giving 30 days’ notice to the other Finance Parties and the Company, in which case the Majority Lenders (after consultation
with the Company) may appoint a successor Agent. 

  

	 	(c)	If the Majority Lenders have not appointed a successor Agent in accordance with paragraph (b) above within 20 days after notice of resignation was given, the
retiring Agent (after consultation with the Company) may appoint a successor Agent (acting through an office in the United Kingdom). 

  

	 	(d)	The retiring Agent shall, at its own cost, make available to the successor Agent such documents and records and provide such assistance as the successor Agent may
reasonably request for the purposes of performing its functions as Agent under the Finance Documents. 

  

	 	(e)	The Agent’s resignation notice shall only take effect upon the appointment of a successor. 

 

	 	(f)	Upon the appointment of a successor, the retiring Agent shall be discharged from any further obligation in respect of the Finance Documents but shall remain entitled to
the benefit of this Clause 34 (and any agency fees for the account of the retiring Agent shall cease to accrue from (and shall be payable on) that date and any agency fees that have been paid in advance shall be repaid in proportion to the period of
effective appointment). Any successor and each of the other Parties shall have the same rights and obligations amongst themselves as they would have had if such successor had been an original Party. 

 

	 	(g)	After consultation with the Company, the Majority Lenders may, by notice to the Agent, require it to resign in accordance with paragraph (b) above. In this event,
the Agent shall resign in accordance with paragraph (b) above. 

  

	34.12	Replacement of the Agent 

  

	 	(a)	After consultation with the Company, the Majority Lenders may, by giving 30 days’ notice to the Agent replace the Agent by appointing a successor Agent (acting
through an office in the United Kingdom). 

  

	 	(b)	The retiring Agent shall at the expense of the Lenders) make available to the successor Agent such documents and records and provide such assistance as the successor
Agent may reasonably request for the purposes of performing its functions as Agent under the Finance Documents. 

  

	 	(c)	The appointment of the successor Agent shall take effect on the date specified in the notice from the Majority Lenders to the retiring Agent. As from this date, the
retiring Agent shall be discharged from any further obligation in respect of the Finance Documents but shall remain entitled to the benefit of this Clause 34 (and any agency fees for the account of the retiring Agent shall cease to accrue from (and
shall be payable on) that date). 

  
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	 	(d)	Any successor Agent and each of the other Parties shall have the same rights and obligations amongst themselves as they would have had if such successor had been an
original Party. 

  

	34.13	Confidentiality 

  

	 	(a)	In acting as agent for the Finance Parties, the Agent shall be regarded as acting through its agency division which shall be treated as a separate entity from any other
of its divisions or departments. 

  

	 	(b)	If information is received by another division or department of the Agent, it may be treated as confidential to that division or department and the Agent shall not be
deemed to have notice of it. 

  

	34.14	Relationship with the Lenders 

  

	 	(a)	Subject to Clause 32.10 (Pro rata Interest Settlement), the Agent may treat the person shown in its records as Lender at the opening of business (in the place of
the Agent’s principal office as notified to the Finance Parties from time to time) as the Lender acting through its Facility Office: 

  

	 	(i)	entitled to or liable for any payment due under any Finance Document on that day; and 

 

	 	(ii)	entitled to receive and act upon any notice, request, document or communication or make any decision or determination under any Finance Document made or delivered on
that day, 

 unless it has received not less than five Business Days’ prior notice from that Lender to the
contrary in accordance with the terms of this Agreement. 
  

	 	(b)	Each Lender shall supply the Agent with any information required by the Agent in order to calculate the Mandatory Cost in accordance with Schedule 4 (Mandatory Cost
formula). 

  

	 	(c)	Any Lender may by notice to the Agent appoint a person to receive on its behalf all notices, communications, information and documents to be made or despatched to that
Lender under the Finance Documents. Such notice shall contain the address, fax number and (where communication by electronic mail or other electronic means is permitted under Clause 39.5 (Electronic communication)) electronic mail address
and/or any other information required to enable the sending and receipt of information by that means (and, in each case, the department or officer, if any, for whose attention communication is to be made) and be treated as a notification of a
substitute address, fax number, electronic mail address, department and officer by that Lender for the purposes of Clause 39.2 (Addresses) and paragraph (a)(iii) of Clause 39.5 (Electronic communication) and the Agent shall be entitled
to treat such person as the person entitled to receive all such notices, communications, information and documents as though that person were that Lender. 

  
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	34.15	Credit appraisal by the Lenders 

 Without affecting the responsibility of any Obligor for information supplied by it or on its behalf in connection with any Finance Document, each Lender confirms to the Agent, the Issuing Bank, each
Swingline Agent, each Swingline Lender and the Arranger that it has been, and will continue to be, solely responsible for making its own independent appraisal and investigation of all risks arising under or in connection with any Finance Document
including but not limited to: 
  

	 	(a)	the financial condition, creditworthiness, condition, affairs, status and nature of each member of the Group; 

 

	 	(b)	the legality, validity, effectiveness, adequacy or enforceability of any Finance Document and any other agreement, arrangement or document entered into, made or
executed in anticipation of, under or in connection with any Finance Document; 

  

	 	(c)	whether that Lender has recourse, and the nature and extent of that recourse, against any Party or any of its respective assets under or in connection with any Finance
Document, the transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document; and 

 

	 	(d)	the adequacy, accuracy and/or completeness of the Debtdomain Information and any other information provided by the Agent, any Party or by any other person under or in
connection with any Finance Document, the transactions contemplated by the Finance Documents or any other agreement, arrangement or document entered into, made or executed in anticipation of, under or in connection with any Finance Document,

 and each Lender warrants to the Agent, the Issuing Bank, each Swingline Agent, each Swingline Lender and the
Arranger that it has not relied on and will not at any time rely on the Agent, the Issuing Bank, the Swingline Agents, the Swingline Lenders or the Arranger in respect of any of these matters. 

 

	34.16	Reference Banks 

 If a
Reference Bank (or, if a Reference Bank is not a Lender, the Lender of which it is an Affiliate) ceases to be a Lender, the Agent shall (in consultation with the Company) appoint another Lender or an Affiliate of a Lender to replace that Reference
Bank. 
  

	34.17	Agent’s Management Time 

 Any amount payable to the Agent under Clause 23.3 (Indemnity to the Agent), Clause 25 (Costs and expenses) and Clause 34.10 (Lenders’ indemnity to the Agent) shall include the
cost, in an amount certified in reasonable detail by the Agent, of utilising the Agent’s management time or other resources and will be calculated on the 

  
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basis of such reasonable daily or hourly rates as the Agent may notify to the Company and the Lenders, and is in addition to any fee paid or payable to the Agent under Clause 20 (Fees).

  

	34.18	Deduction from amounts payable by the Agent 

 If any Party owes an amount to the Agent under the Finance Documents the Agent may, after giving notice to that Party, deduct an amount not exceeding that amount from any payment to that Party which the
Agent would otherwise be obliged to make under the Finance Documents and apply the amount deducted in or towards satisfaction of the amount owed. For the purposes of the Finance Documents that Party shall be regarded as having received any amount so
deducted. 
  

	35.	CONDUCT OF BUSINESS BY THE FINANCE PARTIES 

 No provision of this Agreement will: 
  

	 	(a)	interfere with the right of any Finance Party to arrange its affairs (tax or otherwise) in whatever manner it thinks fit; 

 

	 	(b)	oblige any Finance Party to investigate or claim any credit, relief, remission or repayment available to it or the extent, order and manner of any claim; or

  

	 	(c)	oblige any Finance Party to disclose any information relating to its affairs (tax or otherwise) or any computations in respect of Tax. 

 

	36.	SHARING AMONG THE FINANCE PARTIES 

  

	36.1	Payments to Finance Parties 

 If a Finance Party (a “Recovering Finance Party”) receives or recovers any amount from an Obligor other than in accordance with Clause 37 (Payment mechanics) (a “Recovered
Amount”) and applies that amount to a payment due under the Finance Documents then: 
  

	 	(a)	the Recovering Finance Party shall, within three Business Days, notify details of the receipt or recovery, to the Agent; 

 

	 	(b)	the Agent shall determine whether the receipt or recovery is in excess of the amount the Recovering Finance Party would have been paid had the receipt or recovery been
received or made by the Agent and distributed in accordance with Clause 37 (Payment mechanics), without taking account of any Tax which would be imposed on the Agent in relation to the receipt, recovery or distribution; and

  

	 	(c)	the Recovering Finance Party shall, within three Business Days of demand by the Agent, pay to the Agent an amount (the “Sharing Payment”) equal to such
receipt or recovery less any amount which the Agent determines may be retained by the Recovering Finance Party as its share of any payment to be made, in accordance with Clause 37.5 (Partial payments). 

  
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	36.2	Redistribution of payments 

The Agent shall treat the Sharing Payment as if it had been paid by the relevant Obligor and distribute it between the Finance Parties
(other than the Recovering Finance Party) (the “Sharing Finance Parties”) in accordance with Clause 37.5 (Partial payments) towards the obligations of that Obligor to the Sharing Finance Parties. 

 

	36.3	Recovering Finance Party’s rights 

 On a distribution by the Agent under Clause 36.2 (Redistribution of payments) of a payment received by a Recovering Finance Party from an Obligor as between the relevant Obligor and the Recovering
Finance Party, an amount of the Recovered Amount equal to the Sharing Payment will be treated as not having been paid by that Obligor. 
  

	36.4	Reversal of redistribution 

If any part of the Sharing Payment received or recovered by a Recovering Finance Party becomes repayable and is repaid by that Recovering
Finance Party, then: 
  

	 	(a)	each Sharing Finance Party shall, upon request of the Agent, pay to the Agent for the account of that Recovering Finance Party an amount equal to the appropriate part
of its share of the Sharing Payment (together with an amount as is necessary to reimburse that Recovering Finance Party for its proportion of any interest on the Sharing Payment which that Recovering Finance Party is required to pay) (the
“Redistributed Amount”); and 

  

	 	(b)	as between the relevant Obligor and each relevant Sharing Finance Party, an amount equal to the relevant Redistributed Amount will be treated as not having been paid by
that Obligor. 

  

	36.5	Exceptions 

  

	 	(a)	This Clause 36 shall not apply to the extent that the Recovering Finance Party would not, after making any payment pursuant to this Clause, have a valid and enforceable
claim against the relevant Obligor. 

  

	 	(b)	A Recovering Finance Party is not obliged to share with any other Finance Party any amount which the Recovering Finance Party has received or recovered as a result of
taking legal or arbitration proceedings, if: 

  

	 	(i)	it notified that other Finance Party of the legal or arbitration proceedings; and 

 

	 	(ii)	that other Finance Party had an opportunity to participate in those legal or arbitration proceedings but did not do so as soon as reasonably practicable having received
notice and did not take separate legal or arbitration proceedings. 

  
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 SECTION 11 
 ADMINISTRATION 
  

	37.	PAYMENT MECHANICS 

  

	37.1	Payments to the Agent 

  

	 	(a)	On each date on which an Obligor or a Lender is required to make a payment under a Finance Document, that Obligor or Lender shall make the same available to the Agent
(unless a contrary indication appears in a Finance Document) for value on the due date at the time and in such funds specified by the Agent as being customary at the time for settlement of transactions in the relevant currency in the place of
payment. 

  

	 	(b)	Payment shall be made to such account in the principal financial centre of the country of that currency (or, in relation to euro, in a principal financial centre in a
Participating Member State or London) with such bank as the Agent specifies. 

  

	37.2	Distributions by the Agent 

Each payment received by the Agent under the Finance Documents for another Party shall, subject to Clause 37.3 (Distributions to an
Obligor), Clause 37.4 (Clawback) and Clause 34.18 (Deduction from amounts payable by the Agent) be made available by the Agent as soon as practicable after receipt to the Party entitled to receive payment in accordance with this
Agreement (in the case of a Lender, for the account of its Facility Office), to such account as that Party may notify to the Agent by not less than five Business Days’ notice with a bank in the principal financial centre of the country of that
currency (or, in relation to euro, in the principal financial centre of a Participating Member State or London). 
  

	37.3	Distributions to an Obligor 

 The Agent may (with the consent of the Obligor or in accordance with Clause 38 (Set-off)) apply any amount received by it for that Obligor in or towards payment (on the date and in the currency and
funds of receipt) of any amount due from that Obligor under the Finance Documents or in or towards purchase of any amount of any currency to be so applied. 
  

	37.4	Clawback 

  

	 	(a)	Where a sum is to be paid to the Agent under the Finance Documents for another Party, the Agent is not obliged to pay that sum to that other Party (or to enter into or
perform any related exchange contract) until it has been able to establish to its satisfaction that it has actually received that sum. However, the Agent may assume that the sum has been paid to it, and, in reliance on that assumption, make
available to that Party a corresponding amount. 

  

	 	(b)	If the Agent pays an amount to another Party and it proves to be the case that the Agent had not actually received that amount, then the Party to whom that amount (or
the proceeds of any related exchange contract) was paid by the Agent shall on demand refund the same to the Agent together with interest on that amount from the date of payment to the date of receipt by the Agent, calculated by the Agent to reflect
its cost of funds. 

  
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	37.5	Partial payments 

  

	 	(a)	If the Agent receives a payment that is insufficient to discharge all the amounts then due and payable by an Obligor under the Finance Documents, the Agent shall apply
that payment towards the obligations of that Obligor under the Finance Documents in the following order: 

  

	 	(i)	first, in or towards payment pro rata of any unpaid fees, costs and expenses of the Agent, the Issuing Bank, each Swingline Agent and each Swingline
Lender (but only if the Dollar Swingline Loans or the Euro Swingline Loans, as relevant, have not been funded by any other Lenders) under the Finance Documents; 

 

	 	(ii)	secondly, in or towards payment pro rata of any accrued interest, fee or commission due but unpaid under this Agreement; 

 

	 	(iii)	thirdly, in or towards payment pro rata of any principal due but unpaid under this Agreement and any amount due but unpaid under Clauses 7.4 (Claims
under a Letter of Credit) and 7.5 (Indemnities); and 

  

	 	(iv)	fourthly, in or towards payment pro rata of any other sum due but unpaid under the Finance Documents. 

 

	 	(b)	The Agent shall, if so directed by the Majority Lenders, vary the order set out in paragraphs (a)(ii) to (iv) above. 

 

	 	(c)	Paragraphs (a) and (b) above will override any appropriation made by an Obligor. 

 

	37.6	No set-off by Obligors 

All payments to be made by an Obligor under the Finance Documents shall be calculated and be made without (and free and clear of any
deduction for) set-off or counterclaim. 
  

	37.7	Business Days 

  

	 	(a)	Any payment which is due to be made on a day that is not a Business Day shall be made on the next Business Day in the same calendar month (if there is one) or the
preceding Business Day (if there is not). 

  

	 	(b)	During any extension of the due date for payment of any principal or Unpaid Sum under this Agreement interest is payable on the principal or Unpaid Sum at the rate
payable on the original due date. 

  
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	37.8	Currency of account 

  

	 	(a)	Subject to paragraphs (b) to (e) below, the Base Currency is the currency of account and payment for any sum due from an Obligor under any Finance Document.

  

	 	(b)	A repayment of a Utilisation or Unpaid Sum or a part of a Utilisation or Unpaid Sum shall be made in the currency in which that Utilisation or Unpaid Sum is denominated
on its due date. 

  

	 	(c)	Each payment of interest shall be made in the currency in which the sum in respect of which the interest is payable was denominated when that interest accrued.

  

	 	(d)	Each payment in respect of costs, expenses or Taxes shall be made in the currency in which the costs, expenses or Taxes are incurred. 

 

	 	(e)	Any amount expressed to be payable in a currency other than the Base Currency shall be paid in that other currency. 

 

	37.9	Change of currency 

  

	 	(a)	Unless otherwise prohibited by law, if more than one currency or currency unit are at the same time recognised by the central bank of any country as the lawful currency
of that country, then: 

  

	 	(i)	any reference in the Finance Documents to, and any obligations arising under the Finance Documents in, the currency of that country shall be translated into, or paid
in, the currency or currency unit of that country designated by the Agent (after consultation with the Company); and 

  

	 	(ii)	any translation from one currency or currency unit to another shall be at the official rate of exchange recognised by the central bank for the conversion of that
currency or currency unit into the other, rounded up or down by the Agent (acting reasonably). 

  

	 	(b)	If a change in any currency of a country occurs, this Agreement will, to the extent the Agent (acting reasonably and after consultation with the Company) specifies to
be necessary, be amended to comply with any generally accepted conventions and market practice in the Relevant Interbank Market and otherwise to reflect the change in currency. 

 

	37.10	Disruption to Payment Systems etc. 

 If either the Agent determines (in its discretion) that a Disruption Event has occurred or the Agent is notified by the Company that a Disruption Event has occurred: 

 

	 	(a)	the Agent may, and shall if requested to do so by the Company, consult with the Company with a view to agreeing with the Company such changes to the operation or
administration of the Facilities as the Agent may deem necessary in the circumstances; 

  
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	 	(b)	the Agent shall not be obliged to consult with the Company in relation to any changes mentioned in paragraph (a) if, in its opinion, it is not practicable to do so
in the circumstances and, in any event, shall have no obligation to agree to such changes; 

  

	 	(c)	the Agent may consult with the Finance Parties in relation to any changes mentioned in paragraph (a) but shall not be obliged to do so if, in its opinion, it is
not practicable to do so in the circumstances; 

  

	 	(d)	any such changes agreed upon by the Agent and the Company shall (whether or not it is finally determined that a Disruption Event has occurred) be binding upon the
Parties as an amendment to (or, as the case may be, waiver of) the terms of the Finance Documents notwithstanding the provisions of Clause 43 (Amendments and Waivers); 

 

	 	(e)	the Agent shall not be liable for any damages, costs or losses whatsoever (including, without limitation for negligence, gross negligence or any other category of
liability whatsoever but not including any claim based on the fraud of the Agent) arising as a result of its taking, or failing to take, any actions pursuant to or in connection with this Clause 37.10; and 

 

	 	(f)	the Agent shall notify the Finance Parties of all changes agreed pursuant to paragraph (d) above. 

 

	38.	SET-OFF 

 A Finance Party
may set off any matured obligation due from an Obligor under the Finance Documents (to the extent beneficially owned by that Finance Party) against any matured obligation owed by that Finance Party to that Obligor, regardless of the place of
payment, booking branch or currency of either obligation. If the obligations are in different currencies, the Finance Party may convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off.

  

	39.	NOTICES 

  

	39.1	Communications in writing 

Any communication to be made under or in connection with the Finance Documents shall be made in writing and, unless otherwise stated, may
be made by fax or letter. 
  

	39.2	Addresses 

 The address
and fax number (and the department or officer, if any, for whose attention the communication is to be made) of each Party for any communication or document to be made or delivered under or in connection with the Finance Documents is: 

 

	 	(a)	in the case of the Company and any other Original Obligor, that identified with its name below; 

 

	 	(b)	in the case of each Lender, each Swingline Agent, each Swingline Lender, the Issuing Bank or any other Obligor, that notified in writing to the Agent on or prior to the
date on which it becomes a Party; and 

  
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	 	(c)	in the case of the Agent, that identified with its name below, 

 or any substitute address or fax number or department or officer as the Party may notify to the Agent (or the Agent may notify to the other Parties, if a change is made by the Agent) by not less than five
Business Days’ notice. 
  

	39.3	Delivery 

  

	 	(a)	Any communication or document made or delivered by one person to another under or in connection with the Finance Documents will only be effective:

  

	 	(i)	if by way of fax, when received in legible form; or 

  

	 	(ii)	if by way of letter, when it has been left at the relevant address or five Business Days after being deposited in the post postage prepaid in an envelope addressed to
it at that address, 

 and, if a particular department or officer is specified as part of its address details
provided under Clause 39.2 (Addresses), if addressed to that department or officer. 
  

	 	(b)	Any communication or document to be made or delivered to the Agent will be effective only when actually received by the Agent and then only if it is expressly marked
for the attention of the department or officer identified with the Agent’s signature below (or any substitute department or officer as the Agent shall specify for this purpose). 

 

	 	(c)	All notices from or to an Obligor shall be sent through the Agent. 

  

	 	(d)	Any communication or document made or delivered to the Company in accordance with this Clause will be deemed to have been made or delivered to each of the Obligors.

  

	 	(e)	Any communication or document made or delivered to an Obligor (other than the Company) in accordance with this Clause shall be copied to the Company, c/o WABCO Europe
BVBA, at the address and fax number set out below. 

  

	39.4	Notification of address and fax number 

 Promptly upon receipt of notification of an address and fax number or change of address or fax number pursuant to Clause 39.2 (Addresses) or changing its own address or fax number, the Agent shall
notify the other Parties. 
  

	39.5	Electronic communication 

  

	 	(a)	Any communication to be made between the Agent and a Lender or the Agent and an Obligor under or in connection with the Finance Documents may be made by electronic mail
or other electronic means, if the Agent and the relevant Lender or, as the case may be, the relevant Obligor: 

  

	 	(i)	agree that, unless and until notified to the contrary, this is to be an accepted form of communication; 

  
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	 	(ii)	notify each other in writing of their electronic mail address and/or any other information required to enable the sending and receipt of information by that means; and

  

	 	(iii)	notify each other of any change to their address or any other such information supplied by them. 

 

	 	(b)	Any electronic communication made between the Agent and a Lender or the Agent and an Obligor will be effective only when actually received in readable form and in the
case of any electronic communication made by a Lender or, as the case may be, an Obligor, to the Agent only if it is addressed in such a manner as the Agent shall specify for this purpose. 

 

	39.6	English language 

  

	 	(a)	Any notice given under or in connection with any Finance Document must be in English. 

 

	 	(b)	All other documents provided under or in connection with any Finance Document must be: 

 

	 	(i)	in English; or 

  

	 	(ii)	if not in English, and if so required by the Agent, accompanied by a certified English translation and, in this case, the English translation will prevail unless the
document is a constitutional, statutory or other official document. 

  

	40.	CALCULATIONS AND CERTIFICATES 

  

	40.1	Accounts 

 In any
litigation or arbitration proceedings arising out of or in connection with a Finance Document, the entries made in the accounts maintained by a Finance Party are prima facie evidence of the matters to which they relate in the absence of
manifest error. 
  

	40.2	Certificates and determinations 

 Any certification or determination by a Finance Party of a rate or amount under any Finance Document is, in the absence of manifest error, conclusive evidence of the matters to which it relates.

  

	40.3	Day count convention 

 Any
interest, commission or fee accruing under a Finance Document will accrue from day to day and is calculated on the basis of the actual number of days elapsed and a year of 360 days or, in any case where the practice in the Relevant Interbank Market
differs, in accordance with that market practice (being 365 days in Hong Kong). 

  
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	41.	PARTIAL INVALIDITY 

 If,
at any time, any provision of the Finance Documents is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither: 
  

	 	(a)	the legality, validity or enforceability of the remaining provisions; nor 

  

	 	(b)	the legality, validity or enforceability of such provision under the law of any other jurisdiction, 

will in any way be affected or impaired. 
  

	42.	REMEDIES AND WAIVERS 

 No
failure to exercise, nor any delay in exercising, on the part of any Finance Party, any right or remedy under the Finance Documents shall operate as a waiver of any such right or remedy or constitute an election to affirm any of the Finance
Documents. No single or partial exercise of any right or remedy shall prevent any further or other exercise or the exercise of any other right or remedy. The rights and remedies provided in this Agreement are cumulative and not exclusive of any
rights or remedies provided by law. 
  

	43.	AMENDMENTS AND WAIVERS 

  

	43.1	Required consents 

  

	 	(a)	Subject to Clause 43.2 (Exceptions) any term of the Finance Documents may be amended or waived only with the consent of the Majority Lenders and the Company and
any such amendment or waiver will be binding on all Parties. 

  

	 	(b)	The Agent may effect, on behalf of any Finance Party, any amendment or waiver permitted by this Clause. 

 

	 	(c)	The Agent must promptly notify the other Parties of any amendment or waiver effected by it pursuant to paragraph (b) above. 

 

	43.2	Exceptions 

  

	 	(a)	An amendment or waiver that has the effect of changing or which relates to: 

 

	 	(i)	the definition of “Majority Lenders” in Clause 1.1 (Definitions); 

 

	 	(ii)	an extension to the date of payment of any amount under the Finance Documents; 

 

	 	(iii)	a reduction in the Applicable Margin (other than in accordance with the definition thereof) or a reduction in the amount of any payment of principal, interest, fees or
commission payable; 

  

	 	(iv)	an increase in or an extension of any Commitment; 

  
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	 	(v)	a change to the Borrowers or Guarantors other than in accordance with Clause 33 (Changes to the Obligors); 

 

	 	(vi)	any provision which expressly requires the consent of all the Lenders; 

  

	 	(vii)	Clause 2.3 (Finance Parties’ rights and obligations), Clause 32 (Changes to the Lenders) or this Clause 43; or 

 

	 	(viii)	the nature or scope of the guarantee and indemnity granted under Clause 26 (Guarantee and indemnity); 

shall not be made without the prior consent of all the Lenders. 

 

	 	(b)	An amendment or waiver which relates to the rights or obligations of the Agent, a Swingline Agent, the Issuing Bank or the Arranger (each in their capacity as such) may
not be effected without the consent of the Agent, the relevant Swingline Agent, the Issuing Bank or the Arranger as the case may be. 

  

	44.	CONFIDENTIALITY 

  

	44.1	Confidential Information 

Each Finance Party agrees to keep all Confidential Information confidential and not to disclose it to anyone, save to the extent permitted
by Clause 44.2 (Disclosure of Confidential Information) and Clause 44.3 (Disclosure to numbering service providers), and to ensure that all Confidential Information is protected with security measures and a degree of care that would
apply to its own confidential information. 
  

	44.2	Disclosure of Confidential Information 

 Any Finance Party may disclose: 
  

	 	(a)	to any of its Affiliates and any of its or their officers, directors, employees, professional advisers, auditors, partners, (in the case of any Finance Party
incorporated in Singapore or lending out of a Singapore branch only) third party service providers and Representatives such Confidential Information as that Finance Party shall consider appropriate if any person to whom the Confidential Information
is to be given pursuant to this paragraph (a) is informed in writing of its confidential nature and that some or all of such Confidential Information may be price-sensitive information except that there shall be no such requirement to so inform
if the recipient is subject to professional obligations to maintain the confidentiality of the information or is otherwise bound by requirements of confidentiality in relation to the Confidential Information; 

 

	 	(b)	to any person: 

  

	 	(i)	to (or through) whom it assigns or transfers (or may potentially assign or transfer) all or any of its rights and/or obligations under one or more Finance Documents and
to any of that person’s Affiliates, Representatives and professional advisers; 

  
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	 	(ii)	with (or through) whom it enters into (or may potentially enter into), whether directly or indirectly, any sub-participation in relation to, or any other transaction
under which payments are to be made or may be made by reference to, one or more Finance Documents and/or one or more Obligors and to any of that person’s Affiliates, Representatives and professional advisers; 

 

	 	(iii)	appointed by any Finance Party or by a person to whom sub paragraph (b)(i) or (ii) above applies to receive communications, notices, information or documents
delivered pursuant to the Finance Documents on its behalf (including, without limitation, any person appointed under paragraph (c) of Clause 34.14 (Relationship with the Lenders)); 

 

	 	(iv)	who invests in or otherwise finances (or may potentially invest in or otherwise finance), directly or indirectly, any transaction referred to in paragraph b(i) or
(b)(ii) above; 

  

	 	(v)	to whom information is required or requested to be disclosed by any court of competent jurisdiction or any governmental, banking, taxation or other regulatory authority
or similar body, the rules of any relevant stock exchange or pursuant to any applicable law or regulation; 

  

	 	(vi)	to whom or for whose benefit that Finance Party charges, assigns or otherwise creates Security (or may do so) pursuant to Clause 32.9 (Security over Lenders’
rights); 

  

	 	(vii)	to whom information is required to be disclosed in connection with, and for the purposes of, any litigation, arbitration, administrative or other investigations,
proceedings or disputes; 

  

	 	(viii)	who is a Party; or 

  

	 	(ix)	with the consent of the Company; 

in each case, such Confidential Information as that Finance Party shall consider appropriate if: 

 

	 	(A)	in relation to paragraphs (b)(i), (b)(ii) and b(iii) above, the person to whom the Confidential Information is to be given has entered into a Confidentiality
Undertaking except that there shall be no requirement for a Confidentiality Undertaking if the recipient is a professional adviser and is subject to professional obligations to maintain the confidentiality of the Confidential Information;

  

	 	(B)	in relation to paragraph (b)(iv) above, the person to whom the Confidential Information is to be given has entered into a Confidentiality Undertaking or is otherwise
bound by requirements of confidentiality in relation to the Confidential Information they receive and is informed that some or all of such Confidential Information may be price-sensitive information; 

  
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	 	(C)	in relation to paragraphs (b)(v), (b)(vi) and (b)(vii) above, the person to whom the Confidential Information is to be given is informed of its confidential nature and
that some or all of such Confidential Information may be price-sensitive information except that there shall be no requirement to so inform if, in the opinion of that Finance Party, it is not practicable so to do in the circumstances;

  

	 	(c)	to any person appointed by that Finance Party or by a person to whom paragraph (b)(i) or (b)(ii) above applies to provide administration or settlement services in
respect of one or more of the Finance Documents including without limitation, in relation to the trading of participations in respect of the Finance Documents, such Confidential Information as may be required to be disclosed to enable such service
provider to provide any of the services referred to in this paragraph (c) if the service provider to whom the Confidential Information is to be given has entered into a confidentiality agreement substantially in the form of the LMA Master
Confidentiality Undertaking for Use With Administration/Settlement Service Providers or such other form of confidentiality undertaking agreed between the Company and the relevant Finance Party; 

 

	 	(d)	to any rating agency (including its professional advisers) such Confidential Information as may be required to be disclosed to enable such rating agency to carry out
its normal rating activities in relation to the Finance Documents and/or the Obligors. 

  

	44.3	Disclosure to numbering service providers 

  

	 	(a)	Any Finance Party may disclose to any national or international numbering service provider appointed by that Finance Party to provide identification numbering services
in respect of this Agreement, the Facilities and/or one or more Obligors the following information: 

  

	 	(i)	names of Obligors; 

  

	 	(ii)	country of domicile of Obligors; 

  

	 	(iii)	place of incorporation of Obligors; 

  

	 	(iv)	date of this Agreement; 

  

	 	(v)	the names of the Agent and the Arranger; 

  

	 	(vi)	date of each amendment and restatement of this Agreement; 

  

	 	(vii)	amount of Total Commitments; 

  

	 	(viii)	currencies of the Facilities; 

  
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	 	(ix)	type of Facilities; 

  

	 	(x)	ranking of Facilities; 

  

	 	(xi)	Termination Date for Facilities; 

  

	 	(xii)	changes to any of the information previously supplied pursuant to paragraphs (i) to (xi) above; and 

 

	 	(xiii)	such other information agreed between such Finance Party and the Company, 

 to enable such numbering service provider to provide its usual syndicated loan numbering identification services. 
  

	 	(b)	The Parties acknowledge and agree that each identification number assigned to this Agreement, the Facilities and/or one or more Obligors by a numbering service provider
and the information associated with each such number may be disclosed to users of its services in accordance with the standard terms and conditions of that numbering service provider. 

 

	 	(c)	Each Obligor represents that none of the information set out in paragraphs (i) to (xiii) of paragraph (a) above is, nor will at any time be, unpublished
price-sensitive information. 

  

	 	(d)	The Agent shall notify the Company and the other Finance Parties of: 

  

	 	(i)	the name of any numbering service provider appointed by the Agent in respect of this Agreement, the Facilities and/or one or more Obligors; and

  

	 	(ii)	the number or, as the case may be, numbers assigned to this Agreement, the Facilities and/or one or more Obligors by such numbering service provider.

  

	44.4	Entire agreement 

 This
Clause 44 (Confidentiality) constitutes the entire agreement between the Parties in relation to the obligations of the Finance Parties under the Finance Documents regarding Confidential Information and supersedes any previous agreement,
whether express or implied, regarding Confidential Information. 
  

	44.5	Inside information 

 Each
of the Finance Parties acknowledges that some or all of the Confidential Information is or may be price-sensitive information and that the use of such information may be regulated or prohibited by applicable legislation including securities law
relating to insider dealing and market abuse and each of the Finance Parties undertakes not to use any Confidential Information for any unlawful purpose. 

  
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	44.6	Notification of disclosure 

Each of the Finance Parties agrees (to the extent permitted by law and regulation) to inform the Company: 

 

	 	(a)	of the circumstances of any disclosure of Confidential Information made pursuant to paragraph (b)(v) of Clause 44.2 (Disclosure of Confidential Information)
except where such disclosure is made to any of the persons referred to in that paragraph during the ordinary course of its supervisory or regulatory function; and 

 

	 	(b)	upon becoming aware that Confidential Information has been disclosed in breach of this Clause 44 (Confidentiality). 

 

	44.7	Continuing obligations 

The obligations in this Clause 44 (Confidentiality) are continuing and, in particular, shall survive and remain binding on each
Finance Party for a period of twelve months from the earlier of: 
  

	 	(a)	the date on which all amounts payable by the Obligors under or in connection with this Agreement have been paid in full and all Commitments have been cancelled or
otherwise cease to be available; and 

  

	 	(b)	the date on which such Finance Party otherwise ceases to be a Finance Party. 

 

	45.	COUNTERPARTS 

 Each
Finance Document may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single copy of the Finance Document. 

 

	46.	USA PATRIOT ACT 

 Each
Lender hereby notifies each Obligor that pursuant to the requirements of the USA Patriot Act, such Lender is required to obtain, verify and record information that identifies such Obligor, which information includes the name and address of such
Obligor and other information that will allow such Lender to identify such Obligor in accordance with the USA Patriot Act. 

  
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 SECTION 12 
 GOVERNING LAW AND ENFORCEMENT 
  

	47.	GOVERNING LAW 

 This
Agreement and any non-contractual obligations arising out of or in connection with it are governed by English law. 
  

	48.	ENFORCEMENT 

  

	48.1	Jurisdiction 

  

	 	(a)	The courts of England have exclusive jurisdiction to settle any dispute arising out of or in connection with this Agreement (including a dispute relating to the
existence, validity or termination of this Agreement or the consequences of its nullity or any non-contractual obligations arising out of or in connection with this Agreement) (a “Dispute”). 

 

	 	(b)	The Parties agree that the courts of England are the most appropriate and convenient courts to settle Disputes and accordingly no Party will argue to the contrary.

  

	 	(c)	This Clause 48.1 (Jurisdiction) is for the benefit of the Finance Parties only. As a result, and notwithstanding paragraph (a) of Clause 48.1, any Finance
Party may take proceedings relating to a Dispute in any other courts with jurisdiction. To the extent allowed by law, the Finance Parties may take concurrent proceedings in any number of jurisdictions. 

 

	48.2	Service of process 

Without prejudice to any other mode of service allowed under any relevant law, each Obligor: 

 

	 	(a)	irrevocably appoints WABCO Automotive U.K. Limited (attention: Derek Colquhoun and David Rickell) of Unit A1 Grange Valley, Grange Valley Road, Batley, West Yorkshire
WF17 6GH, England as its agent for service of process in relation to any proceedings before the English courts in connection with any Finance Document; and 

 

	 	(b)	agrees that failure by an agent for service of process to notify the relevant Obligor of the process will not invalidate the proceedings concerned.

 This Agreement has been entered into on the date stated at the beginning of this Agreement. 

  
 - 131 -

 SCHEDULE 1 
 THE ORIGINAL PARTIES 
 PART I 

THE ORIGINAL OBLIGORS 
  

			
	Name of Original Borrowers	 	Registration number (or equivalent, if any)
		
	WABCO Holdings Inc.	 	4283982 (Record No. with the Delaware Secretary of State)
		
	WABCO Europe BVBA	 	0475.956.135
		
	WABCO Financial Services Sprl	 	0881.425.934
		
	WABCO Asia Private Ltd.	 	200607693H
		
	WABCO Hong Kong Limited	 	1143938
		
	Name of Original Guarantor	 	Registration number (or equivalent, if any)
		
	WABCO Holdings Inc.	 	4283982 (Record No. with the Delaware Secretary of State)

  
 - 132 -

 PART II 
 THE ORIGINAL LENDERS 
  

					
	Name of Original Lender	  	Commitment	 
		
	 BANC OF AMERICA SECURITIES LIMITED
	  	USD	48,000,000	  
		
	 CITIBANK, N.A., LONDON BRANCH
	  	USD	48,000,000	  
		
	 FORTIS BANK S.A./N.V.
	  	USD	48,000,000	  
		
	 ING BELGIUM SA/NV
	  	USD	48,000,000	  
		
	 SOCIETE GENERALE
	  	USD	48,000,000	  
		
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
	  	USD	48,000,000	  
		
	 THE ROYAL BANK OF SCOTLAND NV, (BELGIUM) BRANCH
	  	USD	48,000,000	  
		
	 CREDIT LYONNAIS
	  	USD	32,000,000	  
		
	 UNICREDIT BANK AG
	  	USD	32,000,000	  
		
	 TOTAL:
	  	USD	400,000,000	  

  
 - 133 -

 SCHEDULE 2 
 CONDITIONS PRECEDENT 
 PART I 

CONDITIONS PRECEDENT TO INITIAL UTILISATION 
  

	1.	Original Obligors 

  

	 	(a)	A copy of the constitutional documents of each Original Obligor. 

  

	 	(b)	A copy of a resolution of the board of directors of each Original Obligor: 

 

	 	(i)	approving the terms of, and the transactions contemplated by, the Finance Documents to which it is a party and resolving that it execute the Finance Documents to which
it is a party; 

  

	 	(ii)	in the case of each Belgian Obligor, setting out the reasons why the board of directors of that Obligor considered that the entry into this Agreement is of benefit to
that Obligor; 

  

	 	(iii)	authorising a specified person or persons to execute the Finance Documents to which it is a party on its behalf; and 

 

	 	(iv)	authorising a specified person or persons, on its behalf, to sign and/or despatch all documents and notices (including, if relevant, any Utilisation Request) to be
signed and/or despatched by it under or in connection with the Finance Documents to which it is a party. 

  

	 	(c)	A specimen of the signature of each person authorised by the resolution referred to in paragraph (b) above. 

 

	 	(d)	A certificate of each Original Obligor (signed by a director or by a Financial Officer of the relevant Obligor duly authorised by the board of directors) confirming
that borrowing or guaranteeing, as appropriate, the Total Commitments (including any permitted increase in the Total Commitments pursuant to Clause 2.2 (Increase in Total Commitments) would not cause any borrowing, guaranteeing or similar
limit binding on it to be exceeded. 

  

	 	(e)	A certificate of an authorised signatory of each Original Obligor (signed by a director or by a Financial Officer of the relevant Obligor duly authorised by the board
of directors) certifying that each copy document relating to it specified in this Part I of this Schedule 2 is correct, complete and in full force and effect as at a date no earlier than the date of this Agreement. 

 

	2.	Legal opinions 

  

	 	(a)	A legal opinion of Clifford Chance LLP, legal advisers to the Arranger and the Agent in England, substantially in the form distributed to the Original Lenders prior to
signing this Agreement. 

  

	 	(b)	If an Original Obligor is incorporated in a jurisdiction other than England and Wales, a legal opinion of the legal advisers to the Arranger and the Agent in the
relevant jurisdiction, substantially in the form distributed to the Original Lenders prior to signing this Agreement. 

  
 - 134 -

	3.	Other documents and evidence 

  

	 	(a)	Evidence that any agent for service of process referred to in Clause 48.2 (Service of process), if not an Original Obligor, has accepted its appointment.

  

	 	(b)	A copy of any other Authorisation or other document, opinion or assurance which the Agent considers to be necessary or desirable (if it has notified the Company
accordingly) in connection with the entry into and performance of the transactions contemplated by any Finance Document or for the validity and enforceability of any Finance Document. 

 

	 	(c)	Subject to Clause 4.1 (Initial conditions precedent), the Original Financial Statements of each Original Obligor. 

 

	 	(d)	Evidence that the fees, costs and expenses then due from the Company pursuant to Clause 20 (Fees) and Clause 25 (Costs and expenses) have been paid or
will be paid by the first Utilisation Date. 

  

	 	(e)	Evidence satisfactory to the Agent that all amounts under the Existing Facility Agreement (other than amounts outstanding under the Existing Letters of Credit) have
been repaid or prepaid in full (or will be prepaid in full simultaneously with the proceeds of the first Utilisation hereunder) and that all facilities thereunder (other than the Existing Letters of Credit) have been cancelled (or will be cancelled
simultaneously with the first Utilisation hereunder). 

  

	 	(f)	A copy of a good standing certificate with respect to each U.S. Obligor, issued as of a recent date satisfactory to the Agent by the Secretary of State or other
appropriate official of each U.S. Obligor’s jurisdiction of incorporation or organisation. 

  

	 	(g)	A certificate in form and substance satisfactory to the Agent of the chief financial officer or director of finance of each U.S. Obligor as to the solvency of such U.S.
Obligor. 

  
 - 135 -

 PART II 
 CONDITIONS PRECEDENT REQUIRED TO BE 
 DELIVERED BY AN ADDITIONAL OBLIGOR

  

	1.	An Accession Letter, duly executed by the Additional Obligor and the Company. 

 

	2.	A copy of the constitutional documents of the Additional Obligor. 

  

	3.	A copy of a resolution of the board of directors (or its equivalent in the relevant jurisdiction) of the Additional Obligor: 

 

	 	(a)	approving the terms of, and the transactions contemplated by, the Accession Letter and the Finance Documents and resolving that it execute the Accession Letter;

  

	 	(b)	authorising a specified person or persons to execute the Accession Letter on its behalf; and 

 

	 	(c)	authorising a specified person or persons, on its behalf, to sign and/or despatch all other documents and notices (including, in relation to an Additional Borrower, any
Utilisation Request ) to be signed and/or despatched by it under or in connection with the Finance Documents. 

  

	4.	A specimen of the signature of each person authorised by the resolution referred to in paragraph 3 above. 

 

	5.	If applicable in its jurisdiction of incorporation, a copy of a resolution signed by all the holders of the issued shares of the Additional Guarantor, approving the
terms of, and the transactions contemplated by, the Finance Documents to which the Additional Guarantor is a party. 

  

	6.	A certificate of the Additional Obligor (signed by a director) confirming that borrowing or guaranteeing, as appropriate, the Total Commitments would not cause any
borrowing, guaranteeing or similar limit binding on it to be exceeded. 

  

	7.	A certificate of an authorised signatory of the Additional Obligor certifying that each copy document listed in this Part II of Schedule 2 is correct, complete and in
full force and effect as at a date no earlier than the date of the Accession Letter. 

  

	8.	A copy of any other Authorisation or other document, opinion or assurance which the Agent considers to be necessary or desirable in connection with the entry into and
performance of the transactions contemplated by the Accession Letter or for the validity and enforceability of any Finance Document. 

  

	9.	If available, the latest audited financial statements of the Additional Obligor. 

 

	10.	A legal opinion of Clifford Chance LLP, legal advisers to the Arranger and the Agent in England. 

 

	11.	If the Additional Obligor is incorporated in a jurisdiction other than England and Wales, a legal opinion of the legal advisers to the Arranger and the Agent in the
jurisdiction in which the Additional Obligor is incorporated. 

  
 - 136 -

	12.	If the proposed Additional Obligor is incorporated in a jurisdiction other than England and Wales, evidence that the agent for service of process specified in Clause
48.2 (Service of process), if not an Obligor, has accepted its appointment in relation to the proposed Additional Obligor. 

  
 - 137 -

 SCHEDULE 3 
 REQUESTS 
 PART I 

UTILISATION REQUEST – REVOLVING FACILITY LOANS 

 

			
	From:	  	[name of relevant Borrower]
		
	To:	  	[Agent]
		
	Dated:	  	
	
	Dear Sirs

 WABCO HOLDINGS INC. USD400,000,000 Facility Agreement 

dated 8 July 2011 (the “Agreement”) 
  

					
	1.	  	We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the same meaning in this Utilisation Request unless given a different
meaning in this Utilisation Request.
		
	2.	  	We wish to borrow a Revolving Facility Loan on the following terms:
			
		  	Proposed Utilisation Date:	  	[—] (or, if that is not a Business Day, the next
		  		  	Business Day)
			
		  	Currency of Revolving Facility Loan:	  	[—]
			
		  	Amount:	  	[—] or, if less, the Available Facility
			
		  	Interest Period:	  	[—]
		
	3.	  	We confirm that each condition specified in Clause 4.2 (Further conditions precedent) is satisfied on the date of this Utilisation Request.
		
	4.	  	The proceeds of this Revolving Facility Loan should be credited to [account].
		
	5.	  	This Utilisation Request is irrevocable.

  

	
	Yours faithfully
	
	  

	 authorised signatory for
 [name of relevant Borrower]

  
 - 138 -

 PART II 
 UTILISATION REQUEST – DOLLAR SWINGLINE LOANS 
  

			
	From:	  	[name of relevant Borrower]
		
	To:	  	[Dollar Swingline Agent]
		
	Cc:	  	[Dollar Swingline Lender] [Agent]
		
	Dated:	  	

 Dear Sirs 
 WABCO HOLDINGS INC. USD400,000,000 Facility Agreement 
 dated 8 July
2011 (the “Agreement”) 
  

					
	1.	  	We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the same meaning in this Utilisation Request unless given a different
meaning in this Utilisation Request.
		
	2.	  	We wish to borrow a Dollar Swingline Loan on the following terms:
			
		  	Proposed Utilisation Date:	  	[—] (or, if that is not a New York
		  		  	Business Day, the next New York
		  		  	Business Day)
			
		  	Facility to be utilised:	  	Dollar Swingline Facility
			
		  	Amount:	  	USD [—] or, if less, the Available
		  		  	Dollar Swingline Facility
			
		  	Interest Period:	  	[—]
		
	3.	  	We confirm that each condition specified in Clause 9.3(b) (Dollar Swingline Loan Conditions) is satisfied on the date of this Utilisation
Request.
		
	4.	  	The proceeds of this Dollar Swingline Loan should be credited to [account].
		
	5.	  	This Utilisation Request is irrevocable.

  

	
	Yours faithfully
	
	  

	 authorised signatory for
 [name of relevant Borrower]

  
 - 139 -

 PART III 
 UTILISATION REQUEST – EURO SWINGLINE LOANS 
  

			
	From:	  	[name of relevant Borrower]
		
	To:	  	[Euro Swingline Agent]
		
	Cc:	  	[Euro Swingline Lender] [Agent]
		
	Dated:	  	

 Dear Sirs 
 WABCO HOLDINGS INC. USD400,000,000 Facility Agreement 
 dated 8 July
2011 (the “Agreement”) 
  

					
	1.	  	We refer to the Agreement. This is a Utilisation Request. Terms defined in the Agreement have the same meaning in this Utilisation Request unless given a different
meaning in this Utilisation Request.
		
	2.	  	We wish to borrow a Euro Swingline Loan on the following terms:
			
	 	  	Proposed Utilisation Date:	  	[—] (or, if that is not a TARGET Day, the next
	 	  	 	  	TARGET Day)
			
	 	  	Facility to be utilised:	  	Euro Swingline Facility
			
	 	  	Amount:	  	Euro[—] or, if less, the Available Euro
	 	  	 	  	Swingline Facility
			
	 	  	Interest Period:	  	[—]
		
	3.	  	We confirm that each condition specified in Clause 12.3(b) (Euro Swingline Loan Conditions) is satisfied on the date of this Utilisation
Request.
		
	4.	  	The proceeds of this Euro Swingline Loan should be credited to [account].
		
	5.	  	This Utilisation Request is irrevocable.

  

	
	Yours faithfully
	
	  

	 authorised signatory for
 [name of relevant Borrower]

  
 - 140 -

 PART IV 
 UTILISATION REQUEST – LETTERS OF CREDIT 
  

			
	From:	  	[Borrower]
		
	To:	  	[Agent]
		
	Cc:	  	[Issuing Bank]
		
	Dated:	  	

 Dear Sirs 
 WABCO Holdings Inc. – USD400,000,000 Facility Agreement 
 dated
8 July 2011 (the “Agreement”) 
  

					
	1.	  	We wish to arrange for a [Letter of Credit] to be issued by the Issuing Bank on the following terms:
			
		  	Proposed Utilisation Date	  	[—] (or, if that is not a Business Day, the next
		  		  	Business Day)
			
		  	Currency of Letter of Credit	  	[—]
			
		  	Amount:	  	[—] or, if less, the Available Facility
			
		  	Beneficiary:	  	
			
		  	Term or Expiry Date:	  	[—]
		
	2.	  	We confirm that each condition specified in Clause 6.6(b) (Issue of Letters of Credit) is satisfied on the date of this Utilisation Request.
		
	3.	  	We attach a copy of the proposed Letter of Credit.
		
	4.	  	This Utilisation Request is irrevocable.

 Delivery Instructions: 
 [specify delivery instructions] 
  

	
	Yours faithfully
	
	  

	 Authorised signatory for
 [name of relevant Borrower]

  
 - 141 -

 SCHEDULE 4 
 MANDATORY COST FORMULA 
  

	1.	The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Bank of England and/or the
Financial Services Authority (or, in either case, any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank. 

 

	2.	On the first day of each Interest Period (or as soon as possible thereafter) the Agent shall calculate, as a percentage rate, a rate (the “Additional Cost
Rate”) for each Lender, in accordance with the paragraphs set out below. The Mandatory Cost will be calculated by the Agent as a weighted average of the Lenders’ Additional Cost Rates (weighted in proportion to the percentage
participation of each Lender in the relevant Loan) and will be expressed as a percentage rate per annum. 

  

	3.	The Additional Cost Rate for any Lender lending from a Facility Office in a Participating Member State will be the percentage notified by that Lender to the Agent. This
percentage will be certified by that Lender in its notice to the Agent to be its reasonable determination of the cost (expressed as a percentage of that Lender’s participation in all Loans made from that Facility Office) of complying with the
minimum reserve requirements of the European Central Bank in respect of loans made from that Facility Office. 

  

	4.	The Additional Cost Rate for any Lender lending from a Facility Office in the United Kingdom will be calculated by the Agent as follows: 

 

	 	(a)	in relation to a sterling Loan: 

  

					
	
AB + C(B – D) + E × 
0.01
	  	per cent. per annum	  	
	100 – (A + C)	  	  	

  

	 	(b)	in relation to a Loan in any currency other than sterling: 

  

					
	 E × 0.01
	  	per cent. per annum.	  	
	300	  	  	

 Where: 
  

	 	A	is the percentage of Eligible Liabilities (assuming these to be in excess of any stated minimum) which that Lender is from time to time required to maintain as an
interest free cash ratio deposit with the Bank of England to comply with cash ratio requirements. 

  

	 	B	is the percentage rate of interest (excluding the Applicable Margin and the Mandatory Cost and, if the Loan is an Unpaid Sum, the additional rate of interest specified
in paragraph (a) of Clause 17.3 (Default interest)) payable for the relevant Interest Period on the Loan. 

  

	 	C	is the percentage (if any) of Eligible Liabilities which that Lender is required from time to time to maintain as interest bearing Special Deposits with the Bank of
England. 

  
 - 142 -

	 	D	is the percentage rate per annum payable by the Bank of England to the Agent on interest bearing Special Deposits. 

 

	 	E	is designed to compensate Lenders for amounts payable under the Fees Rules and is calculated by the Agent as being the average of the most recent rates of charge
supplied by the Reference Banks to the Agent pursuant to paragraph 7 below and expressed in pounds per £1,000,000. 

  

	5.	For the purposes of this Schedule: 

  

	 	(a)	“Eligible Liabilities” and “Special Deposits” have the meanings given to them from time to time under or pursuant to the Bank of
England Act 1998 or (as may be appropriate) by the Bank of England; 

  

	 	(b)	“Fees Rules” means the rules on periodic fees contained in the FSA Fees Manual or such other law or regulation as may be in force from time to time in
respect of the payment of fees for the acceptance of deposits; 

  

	 	(c)	“Fee Tariffs” means the fee tariffs specified in the Fees Rules under Column 1 of the activity group A.1 Deposit acceptors (ignoring any minimum fee or
zero rated fee required pursuant to the Fees Rules but taking into account any applicable discount rate); and 

  

	 	(d)	“Tariff Base” has the meaning given to it in, and will be calculated in accordance with, the Fees Rules. 

 

	6.	In application of the above formulae, A, B, C and D will be included in the formulae as percentages (i.e. 5 per cent. will be included in the formula as 5 and not
as 0.05). A negative result obtained by subtracting D from B shall be taken as zero. The resulting figures shall be rounded to four decimal places. 

  

	7.	If requested by the Agent, each Reference Bank shall, as soon as practicable after publication by the Financial Services Authority, supply to the Agent, the rate of
charge payable by that Reference Bank to the Financial Services Authority pursuant to the Fees Rules in respect of the relevant financial year of the Financial Services Authority (calculated for this purpose by that Reference Bank as being the
average of the Fee Tariffs applicable to that Reference Bank for that financial year) and expressed in pounds per £1,000,000 of the Tariff Base of that Reference Bank. 

 

	8.	Each Lender shall supply any information required by the Agent for the purpose of calculating its Additional Cost Rate. In particular, but without limitation, each
Lender shall supply the following information on or prior to the date on which it becomes a Lender: 

  

	 	(a)	the jurisdiction of its Facility Office; and 

  

	 	(b)	any other information that the Agent may reasonably require for such purpose. 

 Each Lender shall promptly notify the Agent of any change to the information provided by it pursuant to this paragraph. 

  
 - 143 -

	9.	The percentages of each Lender for the purpose of A and C above and the rates of charge of each Reference Bank for the purpose of E above shall be determined by the
Agent based upon the information supplied to it pursuant to paragraphs 7 and 8 above and on the assumption that, unless a Lender notifies the Agent to the contrary, each Lender’s obligations in relation to cash ratio deposits and Special
Deposits are the same as those of a typical bank from its jurisdiction of incorporation with a Facility Office in the same jurisdiction as its Facility Office. 

 

	10.	The Agent shall have no liability to any person if such determination results in an Additional Cost Rate which over or under compensates any Lender and shall be
entitled to assume that the information provided by any Lender or Reference Bank pursuant to paragraphs 3, 7 and 8 above is true and correct in all respects. 

 

	11.	The Agent shall distribute the additional amounts received as a result of the Mandatory Cost to the Lenders on the basis of the Additional Cost Rate for each Lender
based on the information provided by each Lender and each Reference Bank pursuant to paragraphs 3, 7 and 8 above. 

  

	12.	Any determination by the Agent pursuant to this Schedule in relation to a formula, the Mandatory Cost, an Additional Cost Rate or any amount payable to a Lender shall,
in the absence of manifest error, be conclusive and binding on all Parties. 

  

	13.	The Agent may from time to time, after consultation with the Company and the Lenders, determine and notify to all Parties any amendments which are required to be made
to this Schedule in order to comply with any change in law, regulation or any requirements from time to time imposed by the Bank of England, the Financial Services Authority or the European Central Bank (or, in any case, any other authority which
replaces all or any of its functions) and any such determination shall, in the absence of manifest error, be conclusive and binding on all Parties. 

  
 - 144 -

 SCHEDULE 5 
 FORM OF TRANSFER CERTIFICATE 
  

			
	To:	  	[—] as Agent
		
	From:	  	[The Existing Lender] (the “Existing Lender”) and [The New Lender] (the “New Lender”)
		
	Dated:	  	

 WABCO HOLDINGS INC. – USD400,000,000 Facility Agreement 

dated 8 July 2011 (the “Agreement”) 
  

	1.	We refer to the Agreement. This is a Transfer Certificate. Terms defined in the Agreement have the same meaning in this Transfer Certificate unless given a different
meaning in this Transfer Certificate. 

  

	2.	We refer to Clause 32.5 (Procedure for transfer): 

  

	 	(a)	The Existing Lender and the New Lender agree to the Existing Lender transferring to the New Lender by novation all or part of the Existing Lender’s Commitment,
rights and obligations referred to in the Schedule in accordance with Clause 32.5 (Procedure for transfer). 

  

	 	(b)	The proposed Transfer Date is [—]. 

 

	 	(c)	The Facility Office and address, fax number and attention details for notices of the New Lender for the purposes of Clause 39.2 (Addresses) are set out in the
Schedule. 

  

	3.	The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out in paragraph (c) of Clause 32.4 (Limitation of
responsibility of Existing Lenders). 

  

	4.	The benefit of each security document granted in favour of the Existing Lender under or in connection with the Finance Documents shall be maintained in favour of the
New Lender, without prejudice to paragraph (a) of Clause 32.4 (Limitation of responsibility of Existing Lenders). 

  

	5.	This Transfer Certificate may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of
this Transfer Certificate. 

  

	6.	This Transfer Certificate and any non-contractual obligations arising out of or in connection with it are governed by English law. 

 

	7.	This Transfer Certificate has been entered into on the date stated at the beginning of this Transfer Certificate. 

  
 - 145 -

 THE SCHEDULE 
 Commitment/rights and obligations to be transferred 
 [insert relevant
details] 
 [Facility Office address, fax number and attention details for notices and account details for payments,]

  

			
	[Existing Lender]	 	[New Lender]
		
	By:	 	By:
	
	This Transfer Certificate is accepted by the Agent and the Transfer Date is confirmed as [—].
		
	[Agent]	 	
		
	By:	 	

  
 - 146 -

 SCHEDULE 6 
 FORM OF ASSIGNMENT AGREEMENT 
  

			
	To:	  	Banc of America Securities Limited as Agent and WABCO Holdings, Inc. as Company, for and on behalf of each Obligor
		
	From:	  	[the Existing Lender] (the “Existing Lender”) and [the New Lender] (the “New Lender”)
		
	Dated:	  	

 WABCO HOLDINGS INC. – USD400,000,000 Facility Agreement 

dated 8 July 2011 (the “Agreement”) 
  

	1.	We refer to the Agreement. This is an Assignment Agreement. Terms defined in the Agreement have the same meaning in this Assignment Agreement unless given a different
meaning in this Assignment Agreement. 

  

	2.	We refer to Clause 32.6 (Procedure for assignment): 

  

	 	(a)	The Existing Lender assigns absolutely to the New Lender all the rights of the Existing Lender under the Agreement and the other Finance Documents which relate to that
portion of the Existing Lender’s Commitments and participations in Loans under the Agreement as specified in the Schedule. 

  

	 	(b)	The Existing Lender is released from all the obligations of the Existing Lender which correspond to that portion of the Existing Lender’s Commitments and
participations in Loans under the Agreement specified in the Schedule. 

  

	 	(c)	The New Lender becomes a Party as a Lender and is bound by obligations equivalent to those from which the Existing Lender is released under paragraph (b) above.

  

	3.	The proposed Transfer Date is [—]. 

 

	4.	On the Transfer Date the New Lender becomes Party to the Finance Documents as a Lender. 

 

	5.	The Facility Office and address, fax number and attention details for notices of the New Lender for the purposes of Clause 39.2 (Addresses) are set out in the
Schedule. 

  

	6.	The New Lender expressly acknowledges the limitations on the Existing Lender’s obligations set out in paragraph (c) of Clause 32.4 (Limitation of
responsibility of Existing Lenders). 

  

	7.	This Assignment Agreement acts as notice to the Agent (on behalf of each Finance Party) and, upon delivery in accordance with Clause 32.8 (Copy Documents to
Company), to the Company (on behalf of each Obligor) of the assignment referred to in this Assignment Agreement. 

  
 - 147 -

	8.	In the absence of express provision, security passes together with an assignment (Art. 1692 of the Belgian Civil Code), but not together with a novation (Art. 1278 of
the Belgian Civil Code). 

  

	9.	This Assignment Agreement may be executed in any number of counterparts and this has the same effect as if the signatures on the counterparts were on a single copy of
this Assignment Agreement. 

  

	10.	This Assignment Agreement and any non-contractual obligations arising out of or in connection with it are governed by English law. 

 

	11.	This Assignment Agreement has been entered into on the date stated at the beginning of this Assignment Agreement. 

  
 - 148 -

 THE SCHEDULE 
 Rights to be assigned and obligations to be released and undertaken 

[insert relevant details] 
 [Facility office address, fax number and attention details for notices and account details for payments] 
  

			
	 [Existing Lender]
	 	[New Lender]
		
	 By:
	 	By:

 This Assignment Agreement is accepted by the Agent and the Transfer Date is confirmed as [—]. 
 Signature of this Assignment Agreement by the Agent constitutes confirmation by the Agent of
receipt of notice of the assignment referred to herein, which notice the Agent receives on behalf of each Finance Party. 
 [Agent]

 By: 

  
 - 149 -

 SCHEDULE 7 
 FORM OF ACCESSION LETTER 
  

			
	To:	 	Banc of America Securities Limited as Agent
		
	From:	 	[Subsidiary] and WABCO HOLDINGS INC.
		
	Dated:	 	

 Dear Sirs 
 WABCO HOLDINGS INC. – USD400,000,000 Facility Agreement 
 dated
8 July 2011 (the “Agreement”) 
  

	1.	We refer to the Agreement. This is an Accession Letter. Terms defined in the Agreement have the same meaning in this Accession Letter unless given a different meaning
in this Accession Letter. 

  

	2.	[Subsidiary] agrees to become an Additional [Borrower]/[Guarantor] and to be bound by the terms of the Agreement as an Additional [Borrower]/[Guarantor] pursuant
to Clause [33.2 (Additional Borrowers)]/[Clause 33.4 (Additional Guarantors)] of the Agreement. [Subsidiary] is a company duly incorporated under the laws of [name of relevant jurisdiction]. 

 

	3.	[Subsidiary’s] administrative details are as follows: 

 Address: 
 Fax No: 

Attention: 
  

	4.	This Accession Letter and any non-contractual obligations arising out of or in connection with it are governed by English law. 

This Accession Letter is entered into by deed. 
  

					
		 	WABCO HOLDINGS INC.	 	[Subsidiary]
			
		 	By:	 	By:

  
 - 150 -

 SCHEDULE 8 
 FORM OF RESIGNATION LETTER 
  

			
	To:	  	Banc of America Securities Limited as Agent
		
	From:	  	[resigning Obligor] and WABCO HOLDINGS INC.
		
	Dated:	  	

 Dear Sirs 
 WABCO HOLDINGS INC. – USD400,000,000 Facility Agreement 
 dated
8 July 2011 (the “Agreement”) 
  

					
	1.	  	We refer to the Agreement. This is a Resignation Letter. Terms defined in the Agreement have the same meaning in this Resignation Letter unless given a different
meaning in this Resignation Letter.
		
	2.	  	Pursuant to [Clause 33.3 (Resignation of a Borrower)]/[Clause 33.6 (Resignation of a Guarantor)], we request that [resigning Obligor] be released
from its obligations as a [Borrower]/[Guarantor] under the Agreement.
		
	3.	  	We confirm that no Default is continuing or would result from the acceptance of this request.
		
	4.	  	This Resignation Letter and any non-contractual obligations arising out of or in connection with it are governed by English law.
			
		  	WABCO HOLDINGS INC.	  	[Subsidiary]
			
	 	  	By:	  	By:

  
 - 151 -

 SCHEDULE 9 
 FORM OF COMPLIANCE CERTIFICATE 
  

			
	To:	  	Banc of America Securities Limited as Agent
		
	From:	  	WABCO HOLDINGS INC.
		
	Dated:	  	

 Dear Sirs 
 WABCO HOLDINGS INC. – USD400,000,000 Facility Agreement 
 dated
8 July 2011 (the “Agreement”) 
  

					
	1.	  	We refer to the Agreement. This is a Compliance Certificate. Terms defined in the Agreement have the same meaning when used in this Compliance Certificate unless
given a different meaning in this Compliance Certificate.
		
	2.	  	We confirm that as at [relevant test date]:
			
		  	(a)	  	Consolidated Net Indebtedness of the Company was [x] and the Consolidated EBITDA of the Company was [x]; the ratio of Consolidated Net Indebtedness to Consolidated
EBITDA was therefore [x:x];
			
		  	(b)	  	the Consolidated EBITDA of the Company was [x] and the Consolidated Net Interest Expense of the Company was [x]; the ratio of Consolidated EBITDA to Consolidated Net
Interest Expense was therefore [x:x]; and
			
		  	(c)	  	the Subsidiaries of the Company had USD[x] of outstanding Indebtedness in aggregate, of which the total principal amount secured was USD[x].
		
	3.	  	We set out below calculations establishing the figures in paragraph 2 above:
		
		  	[—]
		
	4.	  	[We confirm that no Default is continuing.]

 

					
	Signed:	 	  

		
		 	 Financial Officer

of
 Company

	
	[insert applicable certification language]
			
		 		 	  

		 		 	for and on behalf of
		 		 	[name of auditors of the Company]

  
 - 152 -

 NOTES: 
  

	*	If this statement cannot be made, the certificate should identify any Default that is continuing and the steps, if any, being taken to remedy it.

  
 - 153 -

 SCHEDULE 10 
 EXISTING SECURITY 
  

					
	Name of Group Company	  	Security	  	Total Principal Amount of Financial
Indebtedness Secured
			
	 Wabco TVS (India) Ltd
	  	Charge over net accounts receivable and net inventory in favour of the State Bank of India dated 18 September 2008	  	INR 450,000,000

  
 - 154 -

 SCHEDULE 11 
 LMA FORM OF CONFIDENTIALITY UNDERTAKING 
 THIS MASTER CONFIDENTIALITY UNDERTAKING is dated
[— ] and made between: 
  

	(1)	[—]; and 

  

	(2)	[—]. 

 Either party (in this capacity the “Purchaser”) may from time to time consider acquiring an interest from the other party (in this capacity the “Seller”) in the Agreement
which, subject to the Agreement, may be by way of novation, assignment, the entering into, whether directly or indirectly, of a sub-participation or any other transaction under which payments are to be made or may be made by reference to one or more
relevant Finance Documents and/or one or more relevant Obligors or by way of investing in or otherwise financing, directly or indirectly, any such novation, assignment, sub-participation or other transaction (each an “Acquisition”).
In consideration of the Seller agreeing to make available to the Purchaser certain information in relation to each Acquisition it is agreed as follows: 
  

	1.	CONFIDENTIALITY UNDERTAKING 

 The
Purchaser undertakes in relation to each Acquisition made or which may be made by it (a) to keep all Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition confidential and not to disclose it to
anyone, save to the extent permitted by paragraph 2 below and to ensure that all Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition is protected with security measures and a degree of care that would
apply to the Purchaser’s own confidential information and (b) until that Acquisition is completed, to use the Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition only for the Permitted
Purpose. 
  

	2.	PERMITTED DISCLOSURE 

 The
Purchaser may disclose in relation to each Acquisition made or which may be made by it: 
  

	2.1	to any of its Affiliates and any of its or their officers, directors, employees, professional advisers and auditors such Confidential Information as the Purchaser shall
consider appropriate if any person to whom such Confidential Information is to be given pursuant to this paragraph 2.1 is informed in writing of its confidential nature and that some or all of such Confidential Information may be price-sensitive
information except that there shall be no such requirement to so inform if the recipient is subject to professional obligations to maintain the confidentiality of the information or is otherwise bound by requirements of confidentiality in relation
to such Confidential Information; 

  

	2.2	subject to the requirements of the relevant Agreement, to any person: 

  

	 	(a)	 to (or through) whom the Purchaser assigns or transfers (or may potentially assign or transfer) all or any of its rights and/or obligations which it
may acquire under that Agreement such Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition as the Purchaser shall 

  
 - 155 -

	 	
consider appropriate if the person to whom such Confidential Information is to be given pursuant to this sub-paragraph (a) of paragraph 2.2 has delivered a letter to the Purchaser in
equivalent form to this undertaking; 

  

	 	(b)	with (or through) whom the Purchaser enters into (or may potentially enter into) any sub-participation in relation to, or any other transaction under which payments are
to be made or may be made by reference to that Agreement or any relevant Obligor such Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition as the Purchaser shall consider appropriate if the person to
whom such Confidential Information is to be given pursuant to this sub-paragraph (b) of paragraph 2.2 has delivered a letter to the Purchaser in equivalent form to this undertaking; 

 

	 	(c)	to whom information is required or requested to be disclosed by any governmental, banking, taxation or other regulatory authority or similar body, the rules of any
relevant stock exchange or pursuant to any applicable law or regulation such Confidential Information which the Seller supplies to the Purchaser in relation to that Acquisition as the Purchaser shall consider appropriate; and

  

	2.3	notwithstanding paragraphs 2.1 and 2.2 above, Confidential Information to such persons to whom, and on the same terms as, a Finance Party is permitted to disclose such
Confidential Information under the Agreement to which that Acquisition relates, as if such permissions were set out in full in this undertaking for the purposes of that Acquisition and as if references in those permissions to Finance Party were
references to the Purchaser for the purposes of that Acquisition. 

  

	3.	NOTIFICATION OF DISCLOSURE 

 The
Purchaser agrees in relation to each Acquisition made or which may be made by it (to the extent permitted by law and regulation) to inform the Seller: 
  

	3.1	of the circumstances of any disclosure of Confidential Information made pursuant to sub-paragraph (c) of paragraph 2.2 above except where such disclosure is made
to any of the persons referred to in that paragraph during the ordinary course of its supervisory or regulatory function; and 

  

	3.2	upon becoming aware that Confidential Information relating to that Acquisition has been disclosed in breach of this undertaking. 

 

	4.	RETURN OF COPIES 

 If the
Purchaser does not enter into an Acquisition and the Seller so requests in writing, the Purchaser shall return all Confidential Information supplied to the Purchaser by the Seller in relation to that Acquisition and destroy or permanently erase (to
the extent technically practicable) all copies of such Confidential Information made by the Purchaser and use its reasonable endeavours to ensure that anyone to whom the Purchaser has supplied any such Confidential Information destroys or
permanently erases (to the extent technically practicable) such Confidential Information and any copies made by them, in each case save to the extent that the Purchaser or the recipients are required to retain any such Confidential

  
 - 156 -

 
Information by any applicable law, rule or regulation or by any competent judicial, governmental, supervisory or regulatory body or in accordance with internal policy, or where the Confidential
Information has been disclosed under sub-paragraph (c) of paragraph 2.2 above. 
  

	5.	CONTINUING OBLIGATIONS 

 The
obligations in this undertaking are continuing and, in particular, shall survive and remain binding on the Purchaser in relation to each Acquisition made or which may be made by it until (a) if the Purchaser acquires an interest in the
Agreement to which that Acquisition relates by way of novation, the date on which the Purchaser acquires such an interest; (b) if the Purchaser enters into that Acquisition other than by way of novation, the date falling twelve months after
termination of that Acquisition; or (c) in any other case twelve months after the date on which Confidential Information in relation to that Acquisition was supplied to the Purchaser by the Seller. 

 

	6.	NO REPRESENTATION; CONSEQUENCES OF BREACH, ETC 

 The Purchaser acknowledges and agrees that, in relation to each Acquisition made or which may be made by it: 
  

	6.1	neither the Seller, nor any member of the relevant Group nor any of the Seller’s or the relevant Group’s respective officers, employees or advisers (each a
“Relevant Person”) (i) make any representation or warranty, express or implied, as to, or assume any responsibility for, the accuracy, reliability or completeness of any of the Confidential Information supplied by the Seller to
the Purchaser in relation to that Acquisition or any other information supplied by the Seller to the Purchaser in relation to that Acquisition or the assumptions on which it is based or (ii) shall be under any obligation to update or correct
any inaccuracy in the Confidential Information supplied by the Seller to the Purchaser in relation to that Acquisition or any other information supplied by the Seller to the Purchaser in relation to that Acquisition or be otherwise liable to the
Purchaser or any other person in respect of the Confidential Information supplied by the Seller to the Purchaser in relation to that Acquisition or any such information; and 

 

	6.2	the Seller or members of the relevant Group may be irreparably harmed by the breach of the terms of this undertaking and damages may not be an adequate remedy; each
Relevant Person may be granted an injunction or specific performance for any threatened or actual breach of the provisions of this undertaking by the Purchaser. 

 

	7.	ENTIRE AGREEMENT: NO WAIVER; AMENDMENTS, ETC 

  

	7.1	This undertaking constitutes the entire agreement between the Seller and the Purchaser in relation to the Purchaser’s obligations regarding Confidential
Information and supersedes any previous agreement, whether express or implied, regarding Confidential Information. 

  

	7.2	No failure or delay in exercising any right or remedy under this undertaking will operate as a waiver thereof nor will any single or partial exercise of any right or
remedy preclude any further exercise thereof or the exercise of any other right or remedy under this undertaking. 

  
 - 157 -

	7.3	The terms of this undertaking and the Purchaser’s obligations under this undertaking may only be amended or modified by written agreement between the parties.

  

	8.	INSIDE INFORMATION 

 The
Purchaser acknowledges that some or all of the Confidential Information is or may be price-sensitive information and that the use of such information may be regulated or prohibited by applicable legislation including securities law relating to
insider dealing and market abuse and the Purchaser undertakes not to use any Confidential Information for any unlawful purpose. 
  

	9.	NATURE OF UNDERTAKINGS 

 The
undertakings given by the Purchaser in this undertaking are given to the Seller and are also given for the benefit of the relevant Company and each other member of the relevant Group. 

 

	10.	THIRD PARTY RIGHTS 

  

	10.1	Subject to this paragraph 10 and to paragraphs 6 and 9, a person who is not a party to this undertaking has no right under the Contracts (Rights of Third Parties) Act
1999 (the “Third Parties Act”) to enforce or to enjoy the benefit of any term of this undertaking. 

  

	10.2	The Relevant Persons may enjoy the benefit of the terms of paragraphs 6 and 9 subject to and in accordance with this paragraph 10 and the provisions of the Third
Parties Act. 

  

	10.3	Notwithstanding any provisions of this undertaking, the parties to this undertaking do not require the consent of any Relevant Person to rescind or vary this
undertaking at any time. 

  

	11.	GOVERNING LAW AND JURISDICTION 

  

	11.1	This undertaking and any non-contractual obligations arising out of or in connection with it (including any non-contractual obligations arising out of the negotiation
of any Acquisition) are governed by English law. 

  

	11.2	The courts of England have non-exclusive jurisdiction to settle any dispute arising out of or in connection with this undertaking (including a dispute relating to any
non-contractual obligation arising out of or in connection with either this undertaking or the negotiation of any Acquisition). 

  

	12.	DEFINITIONS 

 In this undertaking
terms defined in the relevant Agreement (as defined below) shall, unless the context otherwise requires, have the same meaning and: 
 “Agreement” means the USD400,000,000 facility agreement dated 8 July 2011 between, amongst others, Banc of America Securities Limited as agent, certain financial institutions named
therein as lenders and WABCO Holdings Inc. 

  
 - 158 -

 “Company” means WABCO Holdings Inc. 

“Confidential Information” means, in relation to each Acquisition, all information relating to the Company, any Obligor,
the Group, the relevant Finance Documents, the Facility and/or that Acquisition which is received by the Purchaser in relation to the relevant Finance Documents or the relevant Facility from the Seller or any of its affiliates or advisers, in
whatever form, and includes information given orally and any document, electronic file or any other way of representing or recording information which contains or is derived or copied from such information but excludes information that: 

 

	 	(a)	is or becomes public information other than as a direct or indirect result of any breach by the Purchaser of this undertaking; or 

 

	 	(b)	is identified in writing at the time of delivery as non-confidential by the Seller or its advisers; or 

 

	 	(c)	is known by the Purchaser before the date the information is disclosed to the Purchaser by the Seller or any of its affiliates or advisers or is lawfully obtained by
the Purchaser after that date, from a source which is, as far as the Purchaser is aware, unconnected with the relevant Group and which, in either case, as far as the Purchaser is aware, has not been obtained in breach of, and is not otherwise
subject to, any obligation of confidentiality. 

 “Permitted Purpose” means, in relation to each
Acquisition, considering and evaluating whether to enter into that Acquisition. 
 This undertaking has been entered into on the date stated
at the beginning of this undertaking 

  
 - 159 -

 SCHEDULE 12 
 TIMETABLES 
 All times referred to in this Schedule 12 are London time unless otherwise
specified. 
  

							
	 	  	Loans in euro	  	 Loans in US
 Dollars
	  	 Loans in other
 currencies

				
	 Agent confirms to Company if a currency is approved as an Optional Currency in accordance with Clause 4.3(b) (Conditions
relating to Optional Currencies)
	  	—  	  	—  	  	U-5
				
	 Delivery of a duly completed Utilisation Request (Clause 5.1 (Delivery of a Utilisation
Request)
	  	U-3	  	U-3	  	U-4
	  	  
 9.30am
	  	9.30am	  	9.30am
				
	 Agent determines (in relation to a Utilisation) the Base Currency Amount of the Loan, if required under Clause 5.4
(Lenders’ participation)
	  	U-3	  	—  	  	U-4
	  	  
 Noon
	  		  	  
 Noon

				
	 Agent notifies the Lenders of the Loan in accordance with Clause 5.4 (Lenders’
participation)
	  	U-3	  	U-3	  	U-4
	  	  
 3.00pm
	  	3.00pm	  	3.00pm
				
	 Agent receives a notification from a Lender under Clause 14.2 (Unavailability of a currency)
	  	Quotation Day	  	Quotation Day	  	Quotation Day
	  	  
 10.00am
	  	10.00am	  	10.00am
				
	 Agent gives notice in accordance with Clause 14.2 (Unavailability of a currency)
	  	Quotation Day	  	Quotation Day	  	Quotation Day
	  	  
 10.30am
	  	10.30am	  	10.30am
				
	 LIBOR/HIBOR/SIBOR/EURI BOR is fixed
	  	Quotation Day
as of 11:00
a.m. Brussels
time in respect
of EURIBOR	  	Quotation Day
as of 11:00
a.m. in respect
of LIBOR	  	Quotation Day
as of 11:00
a.m. in respect
of HIBOR/
SIBOR
				
	 Each Lender to make its participation in a Loan available in accordance with clause 5.4 (Lenders’
Participation)
	  	Quotation Day
2:00 p.m.	  	Quotation Day
2:00 p.m.	  	U-2 5:00 p.m.
for HKD &
SGD.

  
 - 160 -

 “U” = date of utilisation 
 “U - X” = Business Days prior to date of utilisation 

  
 - 161 -

 SWINGLINE LOANS 

 

					
	 	  	 Dollar Swingline
 Loans
	 	 Euro Swingline
 Loans

			
	 Delivery of a duly completed Utilisation Request for a Dollar Swingline Loan (Clause 9.1 (Delivery of a Utilisation Request
for Dollar Swingline Loans))
	  	U  
 12:00am
	 	
		  	  
 (New York time)
	 	
			
	 Dollar Swingline Agent determines Federal Funds Rate under Clause 10.4 (Interest)
	  	U	 	
	  	  
 1:00pm
	 	
		  	  
 (New York time)
	 	
			
	 Dollar Swingline Agent notifies the Dollar Swingline Lender and the other Lenders of the amount of the Dollar
Swingline Loan in accordance with paragraph (c) of Clause 9.3 (Dollar Swingline Loan Conditions)
	  	U	 	
	  	  
 2:00pm

 
 (New York time)
	 	
			
	 Dollar Swingline Lender notifies the Dollar Swingline Agent that it requires the Lenders to fund its participation in
a Dollar Swingline Loan pursuant to Clause 10.1 (Dollar Swingline Loan Participation)
	  	N 9:00am	 	
	  	(New York time)	 	
			
	 Dollar Swingline Agent notifies the Lenders of the requirement to participate in a Dollar Swingline Loan pursuant to Clause 10.1
(Dollar Swingline Loan Participation)
	  	N 10:00am

(New York time)
	 	
			
	 Each Lender to make its participation in a Dollar Swingline Loan available pursuant to Clause 10.1 (Dollar Swingline Loan
Participation)
	  	N 5:00pm

(New York time)
	 	
			
	 Delivery of a duly completed Utilisation Request for a Euro Swingline Loan (Clause 12.1 (Delivery of a Utilisation Request for
Euro Swingline Loans))
	  		 	U 12:00am
			
	 Euro Swingline Agent determines the Euro Swingline rate for the Euro Swingline Loan and notifies the Euro Swingline Lender and
the relevant Borrower under Clause 13.4 (Interest)
	  		 	U 1.00pm
			
	 Euro Swingline Agent determines (in relation to a Utilisation) the Base Currency Amount of the Euro Swingline Loan, if required
under Clause 12.3 (Euro Swingline Loan Conditions) and notifies the Euro Swingline Lender [and the other Lenders of the amount of the Euro Swingline Loan in accordance with paragraph (c) of Clause 12.3 (Euro Swingline Loan
Conditions)
	  		 	U 2:00pm

  
 - 162 -

					
	 	  	 Dollar Swingline
 Loans
	  	 Euro Swingline
 Loans

			
	 Euro Swingline Lender notifies the Euro Swingline Agent that it requires the Lenders to fund its participation in a Euro
Swingline Loan pursuant to Clause 13.1 (Euro Swingline Loan Participation)
	  		  	N, 9.00am
			
	 Euro Swingline Agent notifies the Lenders of the requirement to participate in a Euro Swingline Loan pursuant to Clause 13.1
(Euro Swingline Loan Participation)
	  		  	N, 10.00am
			
	 Each Lender to make its participation in a Euro Swingline Loan available pursuant to Clause 13.1 (Euro Swingline Loan
Participation)
	  		  	N, 5:00pm

 “U” = date of utilisation 
 “U - X” = Business Days prior to date of utilisation 
 N = the date a Swingline Lender
gives notice to the relevant Swingline Agent that it requires the Lenders to fund its participation in a Swingline Loan 

  
 - 163 -

 LETTERS OF CREDIT 

 

			
	 	  	Letters of Credit
		
	 Delivery of a duly completed Utilisation Request (Clause 6.3 (Delivery of a Utilisation Request for Letters of
Credit))
	  	U-3  
 9.30 am

		
	 Agent determines (in relation to a Utilisation) the Base Currency Amount of the Letter of Credit, if required under Clause 6.6
(Issue of Letters of Credit) and notifies the Issuing Bank and the Lenders of the Letter of Credit in accordance with 6.6 (Issue of Letters of Credit)
	  	U-1  
 Noon

		
	 Delivery of a duly completed Renewal Request (Clause 6.7 (Renewal of a Letter of Credit)
	  	U-3  
 9.30 am

 “U” = date of utilisation or, in the case of a Letter of Credit to be renewed in accordance with Clause 6.7
(Renewal of a Letter of Credit), the first day of the proposed term of the renewed Letter of Credit. 
 “U - X” = Business Days
prior to date of utilisation 

  
 - 164 -

 SCHEDULE 13 
 FORM OF LETTER OF CREDIT 
  

	To:	[Beneficiary] 

 (the
“Beneficiary”) 
 [Date] 
 Irrevocable Letter of Credit no. [—] 
 At the request of [—], Bank of America, N.A. (the “Issuing Bank”) issues this irrevocable letter of credit (“Letter of
Credit”) in your favour on the following terms and conditions: 
  

	1.	Definitions 

 In this
Letter of Credit: 
 “Business Day” means a day (other than a Saturday or a Sunday) on which banks are open for
general business in [—]. 
 “Demand” means a demand for a
payment under this Letter of Credit in the form of the schedule to this Letter of Credit. 
 “Expiry Date” means
[—]. 
 “Facility Agreement” means the USD400,000,000
revolving facility agreement dated 8 July 2011 between, among others, Banc of America Securities Limited as agent, the Issuing Bank and WABCO Holdings, Inc. 
 “Total L/C Amount” means [—]. 
  

	2.	Issuing Bank’s agreement 

  

	 	(a)	The Beneficiary may request a drawing or drawings under this Letter of Credit by giving to the Issuing Bank a duly completed Demand. A Demand must be received by the
Issuing Bank by [—] p.m. ([London] time) on the Expiry Date. 

  

	 	(b)	Subject to the terms of this Letter of Credit, the Issuing Bank unconditionally and irrevocably undertakes to the Beneficiary that, within [ten] Business Days of
receipt by it of a Demand, it must pay to the Beneficiary the amount demanded in that Demand. 

  

	 	(c)	The Issuing Bank will not be obliged to make a payment under this Letter of Credit if as a result the aggregate of all payments made by it under this Letter of Credit
would exceed the Total L/C Account. 

  

	3.	Expiry 

  

	 	(a)	The Issuing Bank will be released from its obligations under this Letter of Credit on the date (if any) notified by the Beneficiary to the Issuing Bank as the date upon
which the obligations of the Issuing Bank under this Letter of Credit are released. 

  
 - 165 -

	 	(b)	Unless previously released under paragraph (a) above, on [—] p.m. ([London] time) on the Expiry Date the
obligations of the Issuing Bank under this Letter of Credit will cease with no further liability on the part of the Issuing Bank except for any Demand validly presented under the Letter of Credit that remains unpaid. 

 

	 	(c)	When the Issuing Bank is no longer under any further obligations under this Letter of Credit, the Beneficiary must return the original of this Letter of Credit to the
Issuing Bank. 

  

	4.	Payments 

 All payments
under this Letter of Credit shall be made in [—] and for value on the due date to the account of the Beneficiary specified in the Demand. 

 

	5.	Delivery of Demand 

 Each
Demand shall be in writing, and, unless otherwise stated, may be made by letter, fax or telex and must be received in legible form by the Issuing Bank at its address and by the particular department or officer (if any) as follows: 

[—] 
  

	6.	 [Automatic
Renewal1 

 This Letter of Credit shall be automatically renewed,
without amendment, on [each anniversary of its date of issue] provided that the conditions set out in Clause 6.6(b) of the Facility Agreement have been satisfied.] 

 

	7.	Assignment 

 The
Beneficiary’s rights under this Letter of Credit may not be assigned or transferred. 
  

	8.	ISP 98 

 Except to the
extent it is inconsistent with the express terms of this Letter of Credit, this Letter of Credit is subject to the International Standby Practices (ISP 98), International Chamber of Commerce Publication No. 590. 

 

	9.	Governing Law 

 This
Letter of Credit and any non-contractual obligations arising out of or in connection with it are governed by English law. 
  

	1 	 May be used for Letters of Credit with a term of one year. 

  
 - 166 -

	10.	Jurisdiction 

 The courts
of England have exclusive jurisdiction to settle any dispute arising out of or in connection with this Letter of Credit. 
  

	
	Yours faithfully,
	
	BANK OF AMERICA, N.A.
	
	By:

  
 - 167 -

 SCHEDULE 14 
 FACILITY APPROVED L/C BENEFICIARIES 
  

	1.	National Union Fire Insurance Company of Pittsburg, PA, 

 PO Box 923 
 Wall Street Station 

New York, NY 10268 
 United States 
  

	2.	Sparkasse Neuss 

 Oberstrasse
110-124 
 41460 Neuss 
 Germany 

  
 - 168 -

 SCHEDULE 15 
 FORM OF DEMAND 
  

	To:	BANK OF AMERICA, N.A. 

[Date] 
 Dear Sirs

 Letter of Credit no. [—] issued in favour of [BENEFICIARY] (the
“Letter of Credit”) 
 We refer to the Letter of Credit. Terms defined in the Letter of Credit have the same meaning when used in
this Demand. 
  

	1.	We certify that the sum of [—] is due [and has remained unpaid for at least
[—] Business Days] [under [set out underlying contract or agreement]]. We therefore demand payment of the sum of [—]. 

 

	2.	Payment should be made to the following account: 

 Name: 
 Account Number: 

Bank: 
  

	3.	The date of this Demand is not later than the Expiry Date. 

 Yours faithfully 
  

			
	Authorised Signatory	 	(Authorised Signatory)

 For 
 [BENEFICIARY] 

  
 - 169 -

 SCHEDULE 16 
 FORM OF COMMITMENT INCREASE NOTICE 
  

			
	To:	  	BANC OF AMERICA SECURITIES LIMITED
		
	From:	  	[—] (the “Lender”)
		
	 Dated:
	  	

 WABCO Holdings Inc. – USD400,000,000 Facility Agreement 

dated 8 July 2011 (the “Facility Agreement”) 

 

	1.	We refer to the Facility Agreement. This notice shall take effect as a Commitment Increase Notice for the purpose of the Facility Agreement. Terms defined in the
Facility Agreement have the same meaning in this notice unless given a different meaning herein. 

  

	2.	We hereby agree to increase our Commitment by an amount equal to USD[—], thereby making our Commitment an amount equal
to USD[—]. 

  

	3.	We confirm the proposed Increase Effective Date is [—]. 

 

	4.	This notice is a Finance Document. 

  

	5.	This notice and any non-contractual obligations arising out of or in connection with it are governed by and construed in accordance with English law.

  

	
	SIGNED
	
	  
 For and on behalf
of

	 [LENDER]

	
	 This notice is accepted by the Agent.

	
	  
 For and on behalf
of

	 BANC OF AMERICA SECURITIES LIMITED

	 as Agent for itself and on behalf of other Finance Parties

	
	Date:

  
 - 170 -

 SCHEDULE 17 
 FORM OF FURTHER LENDER ACCESSION LETTER 
  

			
	To:	  	BANC OF AMERICA SECURITIES LIMITED
		
	From:	  	[The Further Lender] (the “Further Lender”)
		
	Dated:	  	

 WABCO Holdings Inc. – USD400,000,000 Facility Agreement 

dated 8 July 2011 (the “Facility Agreement”) 

 

	1.	We refer to the Facility Agreement. This accession letter shall take effect as a Further Lender Accession Letter for the purpose of the Facility Agreement. Terms
defined in the Facility Agreement have the same meaning in this letter unless given a different meaning herein. 

  

	2.	We hereby agree to become a Lender and to assume a Commitment in an amount of USD [—]. 

 

	3.	We confirm the proposed Increase Effective Date is [[—]]. 

 

	4.	[For the purposes of clause 7.6(d)(i) of the Facility Agreement, we confirm that we are not a Non-Acceptable L/C Lender.] 

 

	5.	Our Facility Office address and related details are as follows: 

 [Facility Office address, fax number and attention details for notices and accounts details for payments] 
  

	6.	This Further Lender Accession Letter is a Finance Document. 

  

	7.	This letter and any non-contractual obligations arising out of or in connection with it are governed by and construed in accordance with English law.

 SIGNED 
  

	
	  

	 For and on behalf of

[Further Lender]

 This Further Lender Accession Letter is accepted by the Agent. 

 

	
	  

	 For and on behalf of

 BANC OF AMERICA SECURITIES LIMITED 
 as Agent for itself and on behalf of the other Finance Parties 
 Date: 

  
 - 171 -

 SCHEDULE 18 
 DESIGNATED ENTITIES 
  

					
	Related Lender	  	Designated Entity	  	Jurisdiction
			
	 Banc of America Securities Limited
	  	Bank of America, N.A.	  	United States
			
	 Banc of America Securities Limited
	  	Bank of America, N.A., Singapore branch	  	Singapore
			
	 Banc of America Securities Limited
	  	Bank of America, N.A., Hong Kong branch	  	Hong Kong
			
	 Citibank, N.A., London Branch
	  	Citibank, N.A., Singapore Branch	  	Singapore

  
 - 172 -

 SCHEDULE 19 
 DESIGNATED ENTITY ACCESSION LETTER 
  

			
	To:	  	BANC OF AMERICA SECURITIES LIMITED
		
	From:	  	[Designated Entity] (the “Designated Entity”)
		  	[Related Lender] (the “Related Lender”)
		
	Dated:	  	

 WABCO Holdings Inc. – USD400,000,000 Facility Agreement 

dated 8 July 2011 (the “Facility Agreement”) 

 

	1.	We refer to the Facility Agreement. This accession letter shall take effect as a Designated Entity Accession Letter for the purpose of the Facility Agreement. Terms
defined in the Facility Agreement have the same meaning in this letter unless given a different meaning herein. 

  

	2.	Following a request by [Related Lender], we hereby agree to accede to the Facility Agreement as a Designated Entity for the purposes of participating in Loans to
Borrowers incorporated in [Designated Jurisdiction] on its behalf. [Related Lender] hereby consents to such accession. 

  

	3.	[For the purposes of clause 7.6(d)(i) of the Facility Agreement, we confirm that we are not a Non-Acceptable L/C Lender.] 

 

	4.	Our Facility Office address and related details are as follows: [Facility Office address, fax number and attention details for notices and accounts details for
payments]. 

  

	5.	This Designated Entity Accession Letter is a Finance Document. 

  

	7.	This letter and any non-contractual obligations arising out of or in connection with it are governed by and construed in accordance with English law.

  

					
	SIGNED	 		 	
	  
	 		 	  

	For and on behalf of	 		 	For and on behalf of
	[Designated Entity]	 		 	[Related Lender]

 This Designated Entity Accession Letter is accepted by the Agent. 

 

	
	  

 For and on behalf of 
 BANC OF AMERICA SECURITIES LIMITED 
 as Agent for itself and on behalf of the other Finance
Parties 
 Date: 

  
 - 173 -

 SCHEDULE 20 
 EXISTING LETTERS OF CREDIT 
  

							
	Beneficiary	  	Amount	 	  	Expiry Date
			
	 National Union Fire Insurance Co. of

Pittsburg, PA
 PO Box 923
 Wall Street Station

New York
 NY 10268
	  	USD	  415,000	  	  	1 August 2012
			
	 National Union Fire Insurance Co. of

Pittsburg, PA
 PO Box 923
 Wall Street Station

New York
 NY 10268
	  	USD	  400,000	  	  	1 August 2012
			
	 Sparkasse Neuss

Oberstrasse 110-124

41460 Neuss
 Germany
	  	EUR	 460,162.69	  	  	27 September 2011

  
 - 174 -

 SIGNATURES 
 Documentary duty of EUR 0.15 per original paid by bank transfer from Clifford Chance on 31 December 2007. Droit d’écriture de 0,15 euro par original payé par transfert
bancaire de Clifford Chance le 31 décembre 2007. Recht of geschriften van 0,15 euro per origineel betaald per overschrijving door Clifford Chance op 31 december 2007. 

 

			
	THE COMPANY
	
	WABCO HOLDINGS INC.
		
	By:	 	  

		
	Name:	 	Jef Van Osta
		 	Authorised Signatory of WABCO Holdings Inc.
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	1 Centennial Avenue, Piscataway, New Jersey 08855, USA
		
	Fax:	 	+732 369 7490
	
	THE ORIGINAL BORROWERS
	
	WABCO HOLDINGS INC.
		
	By:	 	  

		
	Name:	 	Jef Van Osta
		 	Authorised Signatory of WABCO Holdings Inc.
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	1 Centennial Avenue, Piscataway, New Jersey 08855, USA
		
	Fax:	 	+732 369 7490

  
 - 175 -

			
	WABCO EUROPE BVBA
		
	By:	 	  

		
	Name:	 	Jef Van Osta
		 	Authorised Signatory of WABCO Europe BVBA
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	Chaussée De Wavre 1789, 1160 Brussels, Belgium
		
	Fax:	 	+32 2663 9889
	
	WABCO FINANCIAL SERVICES SPRL
		
	By:	 	  

		
	Name:	 	Jef Van Osta
		 	Authorised Signatory of WABCO Financial Services SPRL
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	Chaussée De Wavre 1789, 1160 Brussels, Belgium
		
	Fax:	 	+32 2663 9889
	
	WABCO ASIA PRIVATE LTD.
		
	By:	 	  

		
	Name:	 	Jef Van Osta
		 	Authorised Signatory of WABCO Asia Private Ltd.
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	25 International Business Park, #03-68/69 German Centre, Singapore, 609916
		
	Fax:	 	+65 6562 9111

  
 - 176 -

			
	WABCO HONG KONG LIMITED
		
	By:	 	  

		
	Name:	 	Jef Van Osta
		 	Authorised Signatory of WABCO Hong Kong Limited
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	Room 2501, 11/F AXA Centre, 151 Gloucester Road, Wan Chai, Hong Kong
		
	Fax:	 	+852 3752 1948
	
	THE ORIGINAL GUARANTOR
	
	WABCO HOLDINGS INC.
		
	By:	 	  

		
	Name:	 	Jef Van Osta
		 	Authorised Signatory of WABCO Holdings Inc.
		
	Title:	 	Treasurer, WABCO Holdings Inc.
		
	Address:	 	1 Centennial Avenue, Piscataway, New Jersey 08855, USA
		
	Fax:	 	+732 369 7490

  
 - 177 -

			
	THE ARRANGERS
	
	BANC OF AMERICA SECURITIES LIMITED
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	CITIGROUP GLOBAL MARKETS LIMITED
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	CREDIT LYONNAIS
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	FORTIS BANK S.A./N.V.
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	ING BELGIUM SA/NV
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	

  
 - 178 -

			
	SOCIETE GENERALE CORPORATE & INVESTMENT BANKING (THE CORPORATE AND INVESTMENT BANKING DIVISION OF SOCIETE GENERALE)
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	THE ROYAL BANK OF SCOTLAND NV, (BELGIUM) BRANCH
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	UNICREDIT BANK AG
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	THE AGENT
	
	BANC OF AMERICA SECURITIES LIMITED
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
		
	Attention:	 	

  
 - 179 -

			
	THE DOLLAR SWINGLINE AGENT
	
	BANK OF AMERICA, N.A.
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
		
	Attention:	 	
	
	THE EURO SWINGLINE AGENT
	
	BANC OF AMERICA SECURITIES LIMITED
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
		
	Attention:	 	
	
	THE ORIGINAL DOLLAR SWINGLINE LENDER
	
	BANK OF AMERICA, N.A.
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
		
	Attention:	 	

  
 - 180 -

			
	THE ORIGINAL EURO SWINGLINE LENDER
	
	BANK OF AMERICA, N.A.
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
		
	Attention:	 	
	
	THE ORIGINAL LENDERS
	
	BANC OF AMERICA SECURITIES LIMITED
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	CITIBANK, N.A., LONDON BRANCH
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	CREDIT LYONNAIS
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	

  
 - 181 -

			
	FORTIS BANK S.A./N.V.
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	ING BELGIUM SA/NV
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	SOCIETE GENERALE
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	
	
	THE ROYAL BANK OF SCOTLAND NV, (BELGIUM) BRANCH
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	

  
 - 182 -

			
	UNICREDIT BANK AG
		
	By:	 	
		
	Address:	 	
		
	Fax:	 	

  
 - 183 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}]]